First Trust South Korea AlphaDEX Fund
FKO
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- First Trust South Korea AlphaDEX Fund (FKO) 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 South Korea Index. The fund invests at least 90% of its net assets in common stocks, depositary receipts, real estate investment trusts and tracking stocks that comprise the index, which includes growth and value stocks of companies listed on South Korean exchanges across diversified sectors such as technology, healthcare, utilities and energy; it targets companies operating primarily in South Korea, with nearly 100% geographic allocation to the region. Managed by First Trust Advisors L.P., founded in 1991 and headquartered in Wheaton, Illinois, the fund provides investors exposure to South Korean equities selected using the proprietary AlphaDEX methodology, which ranks stocks based on fundamental growth and value factors. In a major strategic change, the fund's board of trustees approved its termination and liquidation on June 9, 2025, pursuant to a Plan of Liquidation and Termination determined to be in the best interests of the fund. Trading in FKO shares on Nasdaq halted at the close of business on July 11, 2025, with the fund closed to new creation purchases effective that date; shareholders of record as of July 17, 2025, received cash redemptions equal to their proportionate share of the fund's net assets as of the liquidation date around July 18, 2025. This followed a prior reorganization in November 2020, when the fund's assets were consolidated into First Trust Developed Markets ex-US AlphaDEX Fund (FDT), though FKO resumed independent operations thereafter. The fund catered to institutional and retail investors seeking targeted South Korea equity exposure amid low assets under management, recently around $2.02 million, and minimal trading volume.