Is First Trust Mid Cap Growth AlphaDEX ETF (FNY) a Strong ETF Right Now?

Core Insights - The First Trust Mid Cap Growth AlphaDEX ETF (FNY) is a smart beta ETF launched on April 19, 2011, providing broad exposure to the mid-cap growth segment of the market [1] Fund Overview - FNY is managed by First Trust Advisors and has accumulated assets exceeding $391.58 million, positioning it as an average-sized ETF in its category [5] - The ETF aims to replicate the performance of the Nasdaq AlphaDEX Mid Cap Growth Index, utilizing the AlphaDEX stock selection methodology [5] Cost Structure - The annual operating expenses for FNY are 0.70%, making it one of the more expensive options in the mid-cap growth ETF space [6] - The 12-month trailing dividend yield for FNY is 0.57% [6] Sector Allocation and Holdings - The ETF has a significant allocation in the Industrials sector, comprising approximately 21.4% of the portfolio, followed by Financials and Healthcare [7] - Hims & Hers Health, Inc. (HIMS) represents about 1.34% of the fund's total assets, with the top 10 holdings accounting for around 9.41% of total assets under management [8] Performance Metrics - As of July 15, 2025, FNY has increased by approximately 4.09% year-to-date and 11.12% over the past year [10] - The ETF has a beta of 1.15 and a standard deviation of 21.20% over the trailing three-year period, indicating a medium risk profile [10] Alternatives - Other ETFs in the mid-cap growth space include the Vanguard Mid-Cap Growth ETF (VOT) with $17.34 billion in assets and an expense ratio of 0.07%, and the iShares Russell Mid-Cap Growth ETF (IWP) with $19.42 billion in assets and an expense ratio of 0.23% [12]