First Trust Consumer Discretionary AlphaDEX Fund
FXD
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- First Trust Consumer Discretionary AlphaDEX Fund (FXD) is an exchange-traded fund that employs the AlphaDEX investment methodology to select stocks from the consumer discretionary sector. The fund invests in a portfolio of equity securities, primarily large- and mid-cap U.S. companies engaged in consumer discretionary activities including automobiles and components; consumer durables and apparel; consumer services such as hotels, restaurants, and leisure; and consumer staples retailers; as classified by the Russell U.S. Mega Cap Completeness Index and Russell 2000 Completeness Index. It offers investors targeted exposure to the consumer discretionary segment through a rules-based, quantitative selection process that emphasizes momentum and value factors to construct an enhanced index. Launched in May 2007 and domiciled in the United States with administrative operations managed by First Trust Advisors LP in Wheaton, Illinois, FXD tracks the Nasdaq AlphaDEX Consumer Discretionary Index. The fund's portfolio typically comprises 40 to 50 holdings, rebalanced quarterly to maintain alignment with its proprietary index methodology, and is available to retail and institutional investors via major U.S. stock exchanges. Geographically, it focuses exclusively on U.S.-domiciled companies, serving a broad investor base seeking sector-specific growth opportunities. Recent developments include ongoing enhancements to the AlphaDEX methodology amid market volatility in 2024-2025, with quarterly reconstitutions incorporating updated economic data on consumer spending trends; no major acquisitions, partnerships, or structural changes reported in the past two years, reflecting stable operations under First Trust Portfolios LP oversight. The fund maintains a competitive expense ratio and has navigated shifts in consumer behavior driven by inflation and e-commerce growth without significant strategic pivots.