Is First Trust Mid Cap Core AlphaDEX ETF (FNX) a Strong ETF Right Now?

Core Insights - The First Trust Mid Cap Core AlphaDEX ETF (FNX) debuted on May 8, 2007, and provides broad exposure to the Style Box - Mid Cap Blend category of the market [1] - Smart beta ETFs aim to outperform traditional market cap weighted indexes by selecting stocks based on fundamental characteristics rather than market capitalization [2][3] - FNX has accumulated over $1.15 billion in assets, making it an average-sized ETF in its category, and seeks to match the performance of the Nasdaq AlphaDEX Mid Cap Core Index [5] Fund Details - FNX has an annual operating expense of 0.58%, which is relatively high compared to other ETFs, and a 12-month trailing dividend yield of 1.23% [6] - The ETF's largest sector allocation is in Financials at approximately 20.1%, followed by Industrials and Consumer Discretionary [7] - The top 10 holdings of FNX account for about 4.95% of its total assets, with Riot Platforms, Inc. (RIOT) being the largest individual holding at 0.58% [8] Performance Metrics - As of August 20, 2025, FNX has increased by approximately 3.97% year-to-date and 6.85% over the past year, with a trading range between $94.92 and $127.28 in the last 52 weeks [10] - The fund has a beta of 1.10 and a standard deviation of 20.62% over the trailing three-year period, indicating a medium risk profile [10] Alternatives - Other ETFs in the mid-cap space include Vanguard Mid-Cap ETF (VO) and iShares Core S&P Mid-Cap ETF (IJH), which have significantly larger asset bases and lower expense ratios of 0.04% and 0.05%, respectively [12]