FAB Fees and Costs — First Trust Multi Cap Value AlphaDEX Fund
Data updated: 2026-10-13
The net expense ratio is 0.66%: a 0.50% management fee plus 0.15% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $60K in broker commissions, 0.0456% of average net assets, and portfolio turnover was 90%.
FAB Fees and Expenses
Annual operating expenses and sales charges of FAB. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.15% |
| Gross expense ratio | 0.66% |
| Fee waiver | — |
| Net expense ratio | 0.66% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
FAB Costs Over Time
On $10,000 invested in FAB, assuming 5% a year before costs, total costs come to $444 over 5 years, cutting the return by 0.74% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.66%) | $69 | $217 | $377 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $0 | $11 | $41 |
| Total costs | $74 | $243 | $444 |
| Value after costs | $10,426 | $11,333 | $12,319 |
| Impact on return, per year | 0.74% | 0.74% | 0.74% |
FAB Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0456%
- Total broker commissions: $60K
- Bought from dealers (principal trades, not a cost): $161.5M
- Portfolio turnover (prospectus): 90%
FAB Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $38K | 63.01% |
| BTIG, LLC | $22K | 36.34% |
| CANTOR FITZGERALD & CO. | $159 | 0.27% |
| BOFA SECURITIES, INC. | $130 | 0.22% |
| GOLDMAN SACHS & CO. LLC | $98 | 0.16% |
FAB Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $100.6M | 62.28% |
| GOLDMAN SACHS & CO. LLC | $50.6M | 31.35% |
| RBC CAPITAL MARKETS, LLC | $10.3M | 6.37% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.