From Nasdaq: 2024-05-17 06:20:07

The First Trust Mid Cap Growth AlphaDEX ETF (FNY) offers exposure to the Mid Cap Growth segment of the US market. It is sponsored by First Trust Advisors and has assets totaling over $338.98 million. With a focus on companies with market capitalization between $2 billion and $10 billion, mid cap firms tend to offer growth potential with lower risk than small caps.

The ETF has an expense ratio of 0.70%, making it a more costly option in the space. Its heaviest sector allocation is towards Industrials at around 28.70%, followed by Information Technology and Consumer Discretionary. Top holdings include Microstrategy Incorporated (MSTR), Vertiv Group Corp (VRT), and Carvana Co. (CVNA).

Seeking to track the performance of the Nasdaq AlphaDEX Mid Cap Growth Index, FNY has gained about 9.35% year-to-date and roughly 27.15% in the past year. With a beta of 1.12 and a standard deviation of 22.38%, the ETF falls in the medium risk category. It currently holds about 226 individual holdings for diversification.

Investors considering FNY should note it carries a Zacks ETF Rank of 3 (Hold). Alternatives to consider include Vanguard Mid-Cap Growth ETF (VOT) and iShares Russell Mid-Cap Growth ETF (IWP), both tracking similar indices but with different asset sizes and expense ratios. Passively managed ETFs like FNY are favored for their low costs, transparency, and tax efficiency.

For more information on FNY and other ETFs, visit the Zacks ETF Center for screening products matching your investment goals and the latest industry updates. Users can also subscribe to Zacks’ free Fund Newsletter for weekly ETF insights and top-performing recommendations.

Read more at Nasdaq: Should First Trust Mid Cap Growth AlphaDEX ETF (FNY) Be on Your Investing Radar?