First Trust Mega Cap AlphaDex Fund

C000101702 Fund Overview

First Trust Mega Cap AlphaDex Fund is a US mutual fund managed by First Trust Exchange-Traded Alphadex Fund, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: First Trust Exchange-Traded Alphadex Fund
• Category: United States Large Cap Blend / Core Equity
• Assets under management: $18.49M
• 1-year return: 2.2%
• SEC CIK: 0001383496
• SEC series ID: S000032963
• Share class ID: C000101702

C000101702 Investment Objective and Strategy

First Trust Mega Cap AlphaDex Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by First Trust Exchange-Traded Alphadex Fund.

Investment objective

"The First Trust Mega Cap AlphaDEX® Fund (the ""Fund"" ) seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an equity index called the Nasdaq AlphaDEX ® Mega Cap Index (the ""Index"" )."

Principal investment strategy

"The Fund will normally invest at least 90% of its net assets (including investment borrowings) in common stocks that comprise the Index. The Fund, using an ""indexing"" investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Fund's investment advisor seeks a correlation of 0.95 or better (before fees and expenses) between the Fund's performance and the performance of the Index; a figure of 1.00 would represent perfect correlation. The Index is owned and is developed, maintained and sponsored by Nasdaq, Inc. (the ""Index Provider"" ). The Index is designed to select mega cap stocks from the NASDAQ US 500 Large Cap Index (the ""Base Index"" ) that may generate positive alpha, or risk-adjusted returns, relative to traditional indices through the use of the AlphaDEX ® selection methodology.

Alpha is an indication of how much an investment outperforms or underperforms on a risk-adjusted basis relative to its benchmark. The Index attempts to generate positive alpha by identifying stocks based on three factors: value, momentum and size. The Base Index is a comprehensive, rules-based index designed to measure stock market performance of large cap US companies, as determined by the Index Provider. The Fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated. Security selection for the Index will be conducted in the following manner: 1.The selection universe for the Index begins with all stocks in the Base Index. 2.The Index Provider then removes any stocks which do not trade on an eligible exchange; duplicate (multiple share classes) stocks; and stocks which do not meet the Index Provider's liquidity screens.

3.The remaining stocks are then ranked by market capitalization. The top 100 largest stocks by market capitalization, which the Index Provider defines as ""mega cap,"" are eligible for the portfolio. 4.The remaining stocks in the universe are then ranked on both growth and value factors. A stock's selection score is the better of the growth or value rank. 5.The top 50 stocks based on the selection score determined in step 4 comprise the ""selected stocks."" The selected stocks are then split into quintiles based on their selection score, with higher scoring quintiles receiving a greater weight in the Index, subject to sector constraints. The Index is reconstituted and rebalanced quarterly and the Fund will make corresponding changes to its portfolio shortly after the Index changes are made public.

The Index's quarterly rebalance and reconstitution schedule may cause the Fund to experience a higher rate of portfolio turnover. The securities of companies represented in the Index generally have market capitalizations that are consistent with the name of the Index. To determine the market capitalization range of such securities, the Fund uses the current range of the Index. However, the Fund will not sell a security because the security has exceeded or fallen below the current market capitalization range of the Index. As of September 30, 2018, the Index was composed of 50 securities with a market capitalization range of $17 billion to $1,087 billion. As of July 31, 2018, the Fund had significant investments in consumer discretionary companies and information technology companies."

C000101702 Performance

Total returns for C000101702 (as of 2026-10-01), from SEC filings.

C000101702 Risk Information

Risk metrics for C000101702, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 25.7%

C000101702 Costs and Fees

C000101702 costs about $70 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.70%
• Gross expense ratio: 0.70%
• Portfolio turnover: 164%
• Brokerage commissions: 2.90 bps of average net assets (SEC N-CEN)

C000101702 Cashflows

Over the 12 months to 2020-10, First Trust Mega Cap AlphaDex Fund had net inflows of $31.55M, from monthly SEC N-PORT filings.

C000101702 Debt Constituents

No individual debt constituents are reported in First Trust Mega Cap AlphaDex Fund's latest SEC N-PORT filing.

C000101702 Prospectus and SEC Filings

Official First Trust Mega Cap AlphaDex Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-11-25
• Prospectus (485BPOS) — filed 2019-12-03
• Prospectus (485BPOS) — filed 2018-12-04
• Portfolio holdings (N-PORT) — filed 2020-12-28
• Portfolio holdings (N-PORT) — filed 2020-09-25
• Portfolio holdings (N-PORT) — filed 2020-06-24
• Annual census (N-CEN) — filed 2020-10-14
• Annual census (N-CEN) — filed 2019-10-15

Related Funds

Other United States Large Cap Blend / Core Equity funds tracked on ABC INVEST:

• Vanguard Total Stock Market Index Fund (VTSMX)
• Vanguard 500 Index Fund (VFINX)
• iShares Core S&P 500 ETF (IVV)
• Fidelity 500 Index Fund (FXAIX)
• Vanguard Institutional Index Fund (VINIX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.