- ISIN
- US33737M2017
- CUSIP
- 33737M201
- Issuer
- First Trust
- Inception Date
- Apr 19, 2011
- Region
- North America (U.S.)
- Category
- Small Cap Value Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- NASDAQ AlphaDEX Mid Cap Value Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $217M
Share Price Chart
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Performance
FNK Performance Chart
First Trust Mid Cap Value AlphaDEX Fund (FNK) is up 8.6% since the beginning of the year. FNK is currently trading at $60 per share. Investors who bought $1,000 worth of FNK shares 5 years ago would now be looking at an investment worth $1,481.
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Returns By Period
First Trust Mid Cap Value AlphaDEX Fund (FNK) has returned 8.64% so far this year and 20.32% over the past 12 months. Over the last ten years, FNK has returned 9.89% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
First Trust Mid Cap Value AlphaDEX Fund
- 1D
- 0.04%
- 1M
- 1.54%
- YTD
- 8.64%
- 6M
- 7.21%
- 1Y
- 20.32%
- 3Y*
- 13.22%
- 5Y*
- 8.17%
- 10Y*
- 9.89%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FNK Monthly Returns History
Based on dividend-adjusted daily data since Apr 20, 2011, FNK's average daily return is +0.04%, while the average monthly return is +0.89%. At this rate, an investment would double in approximately 6.5 years.
Historically, 60% of months were positive and 40% were negative. The best month was Apr 2020 with a return of +20.1%, while the worst month was Mar 2020 at -29.7%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 5 months.
On a daily basis, FNK closed higher 52% of trading days. The best single day was Mar 24, 2020 with a return of +11.1%, while the worst single day was Mar 16, 2020 at -11.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.05% | 2.34% | -4.17% | 5.37% | -1.30% | 1.41% | 8.64% | ||||||
| 2025 | 2.64% | -4.22% | -3.78% | -5.79% | 4.93% | 4.20% | 1.37% | 6.77% | -1.00% | -3.35% | 3.74% | 0.95% | 5.65% |
| 2024 | -2.95% | 2.80% | 6.65% | -6.25% | 4.33% | -3.21% | 9.07% | -1.85% | 0.17% | -2.40% | 8.88% | -7.10% | 6.65% |
| 2023 | 12.80% | -3.76% | -5.98% | -0.57% | -5.11% | 11.33% | 7.29% | -3.73% | -5.02% | -5.02% | 8.28% | 11.90% | 21.03% |
| 2022 | -2.46% | 0.83% | 0.90% | -4.93% | 3.25% | -10.74% | 9.59% | -3.50% | -10.94% | 10.85% | 8.01% | -5.38% | -7.24% |
| 2021 | 1.56% | 9.94% | 7.54% | 5.24% | 1.82% | -2.95% | 0.49% | 2.67% | -3.01% | 4.36% | -3.41% | 6.07% | 33.60% |
Benchmark Metrics
First Trust Mid Cap Value AlphaDEX Fund has an annualized alpha of -1.91%, beta of 1.01, and R2 of 0.60 versus S&P 500 Index. Calculated based on daily prices since April 20, 2011.
- This ETF participated in 121.51% of S&P 500 Index downside but only 105.68% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 1.01 and R2 of 0.60, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -1.91%
- Beta
- 1.01
- R²
- 0.60
- Upside Capture
- 105.68%
- Downside Capture
- 121.51%
Expense Ratio
FNK has an expense ratio of 0.70%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FNK ranks 41 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for First Trust Mid Cap Value AlphaDEX Fund (FNK) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FNK | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.37 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 2.78 | -0.55 |
| Martin ratioReturn relative to average drawdown | 6.46 | 12.44 | -5.98 |
Dividends
Dividend History
First Trust Mid Cap Value AlphaDEX Fund provided a 1.54% dividend yield over the last twelve months, with an annual payout of $0.93 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.93 | $0.85 | $0.87 | $0.90 | $0.71 | $0.60 | $0.58 | $0.65 | $0.54 | $0.51 | $0.45 | $0.38 |
Dividend yield | 1.54% | 1.53% | 1.63% | 1.76% | 1.66% | 1.27% | 1.61% | 1.82% | 1.76% | 1.40% | 1.38% | 1.45% |
Monthly Dividends
The table displays the monthly dividend distributions for First Trust Mid Cap Value AlphaDEX Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.00 | $0.25 | ||||||
| 2025 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.29 | $0.85 |
| 2024 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.29 | $0.87 |
| 2023 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.35 | $0.90 |
| 2022 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.26 | $0.71 |
| 2021 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.22 | $0.60 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the First Trust Mid Cap Value AlphaDEX Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the First Trust Mid Cap Value AlphaDEX Fund was 50.70%, occurring on Mar 23, 2020. Recovery took 200 trading sessions.
The current First Trust Mid Cap Value AlphaDEX Fund drawdown is 2.03%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -50.70%Mar 2020 | 1y 7mo | 9mo 19d | 2y 4moAug 2018 - Jan 2021 |
2016 bear market2016 | -27.38%Jan 2016 | 9mo 9d | 10mo 2d | 1y 7moApr 2015 - Nov 2016 |
2011 bear market2011 | -26.21%Oct 2011 | 2mo 28d | 4mo 2d | 7moJul 2011 - Feb 2012 |
2025 selloff2025 | -25.16%Apr 2025 | 4mo 13d | 9mo 3d | 1y 1moNov 2024 - Jan 2026 |
Bear market2022 | -20.40%Sep 2022 | 8mo 15d | 3mo 29d | 1y 9dJan 2022 - Jan 2023 |
Drawdown Indicators
| FNK | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.70% | -56.78% | +6.08% |
Max Drawdown (1Y)Largest decline over 1 year | -9.13% | -9.10% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -25.16% | -18.90% | -6.26% |
Max Drawdown (5Y)Largest decline over 5 years | -25.16% | -25.43% | +0.27% |
Max Drawdown (10Y)Largest decline over 10 years | -50.70% | -33.92% | -16.78% |
Current DrawdownCurrent decline from peak | -2.03% | -1.80% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -6.83% | -10.71% | +3.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 2.03% | +1.12% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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