First Trust Mega Cap AlphaDEX Fund
FMK
NASDAQ Global Select- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- United States of America
- IPO Date
- May 11, 2011
- CIK
- 0001383496
- Similar Companies
- Business
- First Trust Mega Cap AlphaDEX Fund (FMK) is an exchange-traded fund managed by First Trust Advisors L.P. that seeks investment results corresponding to the Nasdaq AlphaDEX Mega Cap Index. The fund invests at least 90% of its net assets in common stocks comprising the index, which selects approximately 50 mega-cap stocks from the Nasdaq US 500 Large Cap Index using an enhanced quantitative model designed to generate positive alpha relative to traditional market capitalization-weighted mega-cap indexes; it employs a tiered equal-weighting methodology across growth, value, and momentum factors. The fund provides exposure to large blend equities, primarily in U.S. companies across diversified sectors, with a focus on mega-cap issuers representing about 98% North American holdings. Inception date May 11, 2011, the fund is headquartered in Wheaton, Illinois, through its investment advisor First Trust Advisors L.P., a privately-held firm overseeing approximately $299 billion in assets under management as of September 30, 2025. It trades on U.S. exchanges with net assets of approximately $21 million, an expense ratio of 0.70%, and targets institutional and retail investors seeking alpha-oriented large-cap equity exposure. In recent developments, First Trust announced the adjournment of a special shareholder meeting to approve the proposed reorganization of FMK into First Trust Dow 30 Equal Weight ETF, reflecting ongoing strategic portfolio optimization efforts amid a series of fund reorganizations completed by First Trust in 2024 and 2025. Additional recent activities by First Trust include distributions declared for FMK and peer funds in December 2025, as well as broader expansions such as the launch of new actively managed ETFs like First Trust Enhanced Stocks, Bonds & Gold ETF in late 2025 and proposed reorganizations of Vest-advised mutual funds into First Trust ETFs. These changes underscore First Trust's focus on enhancing its ETF lineup through mergers, product innovations, and outcome-driven strategies.