FEX Fees and Costs — First Trust Large Cap Core AlphaDEX Fund
Data updated: 2026-10-13
The net expense ratio is 0.57%: a 0.50% management fee plus 0.07% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $296K in broker commissions, 0.0206% of average net assets, and portfolio turnover was 95%.
FEX Fees and Expenses
Annual operating expenses and sales charges of FEX. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.07% |
| Gross expense ratio | 0.57% |
| Fee waiver | — |
| Net expense ratio | 0.57% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
FEX Costs Over Time
On $10,000 invested in FEX, assuming 5% a year before costs, total costs come to $372 over 5 years, cutting the return by 0.62% 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 0.57%) | $60 | $188 | $327 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $10 | $34 |
| Total costs | $62 | $204 | $372 |
| Value after costs | $10,438 | $11,372 | $12,390 |
| Impact on return, per year | 0.62% | 0.62% | 0.62% |
FEX 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): 0.0206%
- Total broker commissions: $296K
- Bought from dealers (principal trades, not a cost): $1.2B
- Portfolio turnover (prospectus): 95%
FEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CANTOR FITZGERALD & CO. | $143K | 48.29% |
| J.P. Morgan Securities LLC | $103K | 34.83% |
| RBC CAPITAL MARKETS, LLC | $49K | 16.52% |
| BTIG, LLC | $520 | 0.18% |
| GOLDMAN SACHS & CO. LLC | $274 | 0.09% |
| BOFA SECURITIES, INC. | $272 | 0.09% |
FEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RBC CAPITAL MARKETS, LLC | $570.0M | 46.58% |
| CANTOR FITZGERALD & CO. | $539.8M | 44.11% |
| BOFA SECURITIES, INC. | $54.8M | 4.48% |
| VIRTU AMERICAS LLC | $26.7M | 2.18% |
| GOLDMAN SACHS & CO. LLC | $19.2M | 1.57% |
| Jane Street Execution Services, LLC | $13.3M | 1.09% |
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.