FNK Fees and Costs — First Trust Mid Cap Value AlphaDEX Fund
Data updated: 2026-10-13
The net expense ratio is 0.74%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $108K in broker commissions, 0.0519% of average net assets, and portfolio turnover was 100%.
FNK Fees and Expenses
Annual operating expenses and sales charges of FNK. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.74% |
| Fee waiver | — |
| Net expense ratio | 0.74% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
FNK Costs Over Time
On $10,000 invested in FNK, assuming 5% a year before costs, total costs come to $497 over 5 years, cutting the return by 0.83% 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 0.74%) | $78 | $243 | $422 |
| Trading costs (broker commissions) | $5 | $17 | $30 |
| Lost growth on money paid in costs | $0 | $13 | $46 |
| Total costs | $83 | $273 | $497 |
| Value after costs | $10,417 | $11,303 | $12,265 |
| Impact on return, per year | 0.83% | 0.83% | 0.83% |
FNK 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): 0.0519%
- Total broker commissions: $108K
- Bought from dealers (principal trades, not a cost): $87.6M
- Portfolio turnover (prospectus): 100%
FNK Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MIZUHO SECURITIES USA LLC | $54K | 50.48% |
| CANTOR FITZGERALD & CO. | $38K | 35.22% |
| OLD MISSION MARKETS LLC | $15K | 13.61% |
| BTIG, LLC | $368 | 0.34% |
| CITADEL SECURITIES LLC | $252 | 0.23% |
| BOFA SECURITIES, INC. | $121 | 0.11% |
FNK Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $73.3M | 83.71% |
| CITADEL SECURITIES LLC | $8.7M | 9.97% |
| BOFA SECURITIES, INC. | $2.8M | 3.17% |
| VIRTU AMERICAS LLC | $2.8M | 3.16% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.