Making its debut on 04/19/2011, smart beta exchange traded fund First Trust Mid Cap Value AlphaDEX ETF (FNK) provides investors broad exposure to the Style Box - Mid Cap Value category of the market.What Are Smart Beta ETFs?Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replica ...