First Trust Developed Markets ex-US AlphaDEX Fund
FDT
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- First Trust Developed Markets ex-US AlphaDEX Fund (FDT) is an exchange-traded fund that employs the AlphaDEX investment methodology to select stocks from developed markets outside the United States. The fund normally invests at least 90% of its net assets in common stocks and depositary receipts that comprise the Nasdaq AlphaDEX Developed Markets Ex-US Index, a modified equal-weight index focusing on large- and mid-capitalization value and growth stocks; the underlying portfolio emphasizes sectors such as industrials (30.18%), basic materials (15.19%), and consumer cyclicals (13.17%), with primary regional exposure to Japan (28.56%), developed Asia (18.76%), and the Eurozone (15.73%). It is managed by a team including Roger Testin, Daniel Lindquist, Jon Erickson, David McGarel, Stan Ueland, Chris Peterson, and Erik Russo. Launched on April 18, 2011, and domiciled in the United States with shares listed on Nasdaq, FDT is advised by First Trust Advisors L.P., a privately held firm founded in 1991 and headquartered in Wheaton, Illinois, alongside its affiliate First Trust Portfolios L.P., which acts as sponsor and distributor; the fund's total net assets stand at approximately $688 million, with a net expense ratio of 0.80% and quarterly distributions, including a recent $0.7890 per share declared in December 2025. In October 2015, the fund underwent a significant index change from the Defined Developed Markets Ex-US Index to the Nasdaq AlphaDEX Developed Markets Ex-US Index, enhancing its stock selection process based on fundamental factors; more recently, First Trust Advisors faced a $10 million FINRA fine in November 2025 for violations related to excessive non-cash compensation in distributing investment products, including remedial compliance measures. The fund targets investors seeking exposure to foreign large-value equities, maintaining high non-U.S. stock allocation (96.96%) and delivering strong performance, with a 52-week high reached in December 2025 amid ongoing quarterly distributions.