First Trust Canada AlphaDEX Fund (FCAN) is an exchange-traded fund that seeks investment results corresponding generally to the price and yield (before the fund's fees and expenses) of the NASDAQ AlphaDEX Canada Index. The fund employs a full replication technique to track the index, which selects stocks from the NASDAQ Canada Index designed to generate positive alpha or risk-adjusted returns relative to traditional indices through the proprietary AlphaDEX selection methodology; it invests in growth and value stocks of Canadian companies across diversified sectors and market capitalizations. Formed on February 14, 2012, and domiciled in the United States, the fund operates under First Trust Exchange-Traded AlphaDEX Fund II with headquarters at 120 East Liberty Drive, Suite 400, Wheaton, Illinois.
In a significant strategic change, as of November 2, 2020, First Trust Canada AlphaDEX Fund was acquired by First Trust Exchange-Traded AlphaDEX Fund II - First Trust Developed Markets Ex-US AlphaDEX Fund, marking its delisting from independent trading under the FCAN ticker. No further major partnerships, funding rounds, new product launches, or operational expansions specific to FCAN have been reported in the last 1-2 years. The fund primarily targets investors seeking exposure to the Canadian equity markets through an enhanced indexing approach focused on diversified public companies.