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FNY ETF ANALYSIS

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FNY ETF FUNDAMENTALS
FNY ETF PERFORMANCE

FNY ISSUER

First Trust Mid Cap Growth AlphaDEX Fund (FNY) is managed and sponsored by First Trust Advisors L.P., a well-established asset management company with a reputation for innovative investment solutions. FNY's primary objective is to track the performance of the Nasdaq US 600 Mid Cap Index™, a benchmark developed and maintained by Nasdaq, Inc. This index selection process employs the AlphaDEX® methodology, designed to identify growth stocks within the mid-cap segment that have the potential to generate positive alpha, or risk-adjusted returns, compared to traditional indices. FNY's investment strategy involves selecting the top 225 stocks from the Nasdaq US 600 Mid Cap Index™ based on their growth and value factors, which are determined by the Index Provider.

FNY DIVIDEND

While the primary objective of the First Trust Mid Cap Growth AlphaDEX Fund (FNY) is to replicate the performance of the Nasdaq US 600 Mid Cap Index using an indexing investment approach, it also has implications for dividend distribution. FNY typically invests at least 90% of its net assets in common stocks from the Index, which includes growth stocks selected using the AlphaDEX® methodology. The ETF follows the dividend eligibility criteria of its underlying index, meaning it includes companies that may generate positive alpha and outperform on a risk-adjusted basis. As the Index is rebalanced quarterly, FNY may experience a relatively higher portfolio turnover rate due to changes in constituent stocks' performance and eligibility. Investors seeking mid-cap growth stocks with potential for alpha returns should consider FNY for their portfolios.

FNY TRACKING

Tracking the NYSE U.S. 100 Index is the primary objective of the First Trust Mid Cap Growth AlphaDEX Fund (FNY). FNY invests in mid-cap U.S. stocks that exhibit growth characteristics, emphasizing the top 100 companies listed on the NYSE. This strategy allows FNY to offer investors exposure to mid-cap growth opportunities within the U.S. equity market, leveraging the performance of dynamic mid-sized companies.

FNY CORRELATION

The correlation aspect of the First Trust Mid Cap Growth AlphaDEX Fund (FNY) is essential for understanding its performance relative to the mid-cap growth stocks it seeks to replicate. FNY aims to mimic the performance of the Nasdaq US 600 Mid Cap Index using an AlphaDEX® selection methodology. The correlation of FNY with this index is expected to be strong, as it strives to generate positive alpha, indicating its potential to outperform traditional mid-cap indices. Investors interested in the correlation between FNY and the Nasdaq US 600 Mid Cap Index can leverage ETF Insider's web app for in-depth data and visualizations, helping them make informed investment decisions and identify potential overlaps within their portfolios.

FNY SECTOR

The First Trust Mid Cap Growth AlphaDEX Fund (FNY) primarily invests in mid-cap growth stocks selected from the Nasdaq US 600 Mid Cap IndexTM. The Index aims to identify growth stocks that have the potential to generate positive alpha, meaning they can outperform traditional indices on a risk-adjusted basis. FNY utilizes the AlphaDEX® selection methodology to choose stocks, emphasizing factors like growth and value. As of October 31, 2022, the Index consisted of 225 securities with market capitalizations ranging from $2.184 billion to $16.684 billion, making it concentrated in mid-cap companies. The Fund's sector allocation may vary over time, but as of that date, it had significant investments in industrial companies, while its concentration is subject to changes in the Index. Investors considering FNY should be aware of potential sector-specific and jurisdictional risks associated with the Fund's investments.

FNY EXPOSURE

The exposure characteristics of the First Trust Mid Cap Growth AlphaDEX Fund (FNY) highlight its focus on the mid-cap growth segment of the U.S. equity market. FNY aims to replicate the performance of the Nasdaq US 600 Mid Cap IndexTM with an emphasis on selecting growth stocks through its AlphaDEX® selection methodology. This approach seeks to generate positive alpha or risk-adjusted returns relative to traditional indices. The Index is reconstituted and rebalanced quarterly, potentially leading to a higher rate of portfolio turnover for the Fund. FNY''s exposure provides investors with a unique strategy to access mid-cap companies with growth potential in the U.S. market. To explore this exposure and gain deep insights, ETF Insider''s web app offers a comprehensive visualization tool that reveals correlations, overlaps, and more for FNY and other U.S. ETFs, making it an invaluable resource for ETF investors.

ETF Insider is a data-driven portfolio analytics and optimization platform that introduces a more efficient and practical way to visualize, analyze and optimize portfolios.

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FREQUENTLY ASKED QUESTIONS

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