First Trust Mid Cap Value AlphaDEX ETF is Still Strong Despite Recent Dip
The First Trust Mid Cap Value AlphaDEX ETF (FNK) has dipped over the past few days but remains a very strong ETF.
FNK Outperformed Numerous ETFs in its Sector
The First Trust Mid Cap Value AlphaDEX ETF is a smart beta ETF that offers investors broad exposure to the Style Box – Mid Cap Value category of the US stock market. The ETF is managed by First Trust Advisors and has more than $200 million in assets under management, making it an average-sized ETF in the Style Box – Mid Cap Value sector.
Before fees and expenses, the fund is designed to match the performance of the Nasdaq AlphaDEX Mid Cap Value Index. The NASDAQ AlphaDEX Mid Cap Value Index uses the AlphaDEX stock selection methodology to choose stocks from the NASDAQ US 600 Mid Cap Value Index.
FNK is down by less than 1% over the past 24 hours but remains one of the best performing ETFs in its sector. It has annual operating expenses of 0.70%, making it one of the most expensive funds in the space. Currently, its 12-month trailing dividend yield comes in at 1.25%.
The fund invests mostly in stocks in the financial sector, followed by Discretionary and Industrial stocks.
FNK Could Rally Past $50 Soon
Despite its recent performance, FNK remains one of the top ETFs in its sector. Year-to-date, the ETF has added more than 34% to its value, making it one of the top performers amongst the funds in the Style Box – Mid Cap Value sector.
FNK’s MACD line is above the neutral zone, indicating that the ETF remains bullish despite a recent dip in its price. The RSI of 54 shows that FNK is heading into the overbought region, and it could rally higher over the coming days and weeks.
In the past 52-week period, FNK has traded between $33.66 and $48.03. It could rally towards the $50 level if it can maintain its recent momentum. FNK has a beta of 1.41 and a standard deviation of 32.39% for the past three years. Hence, making it a medium-risk fund in the space.