First Trust Europe AlphaDEX Fund
FEP
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- First Trust Europe AlphaDEX Fund (FEP) is an exchange-traded fund that seeks investment results corresponding generally to the price and yield, before fees and expenses, of the Nasdaq AlphaDEX Europe Index. The fund normally invests at least 90% of its net assets in the securities comprising the tiered equal-weighted index, which selects 200 stocks from the S&P Europe BMI using the proprietary AlphaDEX selection methodology emphasizing stocks with strong fundamentals, value, and growth characteristics across mid- and large-cap European companies. It provides exposure primarily to equities in developed European markets, including the Eurozone (approximately 64%), United Kingdom (17%), and Europe ex-Euro (15%), with top holdings in sectors such as financials, industrials, materials, and consumer discretionary; the net expense ratio stands at 0.80% with a portfolio turnover of 86%. Launched on April 18, 2011, and managed by First Trust Advisors L.P., headquartered in Wheaton, Illinois, the fund is part of First Trust Exchange-Traded AlphaDEX Fund II and trades on Nasdaq with total net assets of approximately $367 million as of late 2025. In December 2025, the fund announced a significant quarterly dividend increase to $0.5446 per share from $0.18 previously, representing a 203.6% rise and yielding about 4.1% annualized, payable on December 31 to shareholders of record on December 12. Recent fund governance updates include trustee elections and re-elections in August 2025, upcoming elections announced in May 2025, and new board and audit committee appointments in March 2024 by First Trust Advisors L.P.; ongoing ETF distributions were declared in June, March, and December 2025. No major acquisitions, partnerships, or strategic shifts specific to FEP were reported in the last 1-2 years, though the underlying index transitioned to Nasdaq AlphaDEX Europe in 2015 for enhanced selection methodology.