First Trust Mid Cap Growth AlphaDEX ETF (FNY) seeks to outperform Mid Cap Growth segment.

From Nasdaq: 2024-05-02 06:20:06

The First Trust Mid Cap Growth AlphaDEX ETF (FNY) was launched in 2011 to provide exposure to the Mid Cap Growth category. Smart beta ETFs like FNY track non-cap weighted strategies based on stock selection methodologies, seeking better risk-return performance.

Managed by First Trust Advisors, FNY seeks to match the Nasdaq AlphaDEX Mid Cap Growth Index. With an expense ratio of 0.70%, it’s one of the more expensive ETFs in the segment. Its top sector allocation is in Industrials, with Microstrategy Incorporated, Vertiv Group Corp, and Carvana Co. being top holdings.

Year-to-date, FNY has gained 3.51% and 18.90% over the last 12 months. The ETF has traded between $55.49 and $75.79 in the past year, with a beta of 1.12 and standard deviation of 22.59% over the trailing three-year period, making it a medium risk choice.

Investors looking to outperform the Mid Cap Growth segment can consider FNY as an option. Alternatives like Vanguard Mid-Cap Growth ETF (VOT) and iShares Russell Mid-Cap Growth ETF (IWP) are also available. Investors seeking cheaper and lower-risk options can explore traditional market cap weighted ETFs.

Read more at Nasdaq: Is First Trust Mid Cap Growth AlphaDEX ETF (FNY) a Strong ETF Right Now?