First Trust Energy AlphaDEX Fund (FXN)

Market Price (10/22/2026): $23.95

First Trust Energy AlphaDEX Fund (FXN)

Market Price (10/22/2026): $23.95

Key Takeaways

FXN has returned +48.4% YTD vs +14.0% for SPY; +57.8% over the past 12 months (SPY +16.1%). details →
Priced in gold, FXN has returned -30.9% over the past 3 years, vs +44.7% in dollars — its dollar gains have lagged gold. details →
FXN has seen negligible net fund flows over the past month (+0.2% of assets). details →
Risk-adjusted returns trail SPY: 3-year Sharpe ratio of 0.3 vs 1.1. details →
Analysts expect -3% revenue growth across FXN's holdings (next fiscal year) vs +13% for SPY; expected earnings growth: -4% vs +19%. details →

Last updated: 10/21/2026.

Price Chart

ETF Price
Price/Gold

Asset Allocation with FXN

Risk Tolerance:

ConservativeModerateAggressive

Moderate — 55% equity / 25% bonds / 20% alternatives

10Y Return (ann.)

+8.6%

Volatility

22.3%

Sharpe

0.35

YTD

+28.1%

Modeled with monthly rebalancing to target weights; 10-year figures are annualized from monthly returns. Illustrative only — past performance is not indicative of future results.

	ETF	%	1D	1W	1M	YTD
Equity	FXN	25.0%	0.2%	1.5%	7.7%	48.4%
Bond	BND	50.0%	0.0%	0.5%	-0.6%	-1.5%
Gold	GLD	10.0%	0.3%	0.8%	-5.3%	-4.4%
Commodity	DBC	2.5%	-0.2%	0.6%	3.3%	49.8%
Real Estate	VNQ	5.0%	-0.9%	1.3%	-1.4%	6.3%
Bitcoin	BTCUSD	0.0%	-0.2%	1.4%	-4.0%	-5.4%
Cash	GOVT	7.5%	0.0%	0.5%	-0.6%	-1.8%
Conservative Portfolio		100.0%	0.0%	0.8%	1.1%	12.3%

	ETF	%	1D	1W	1M	YTD
Equity	FXN	55.0%	0.2%	1.5%	7.7%	48.4%
Bond	BND	25.0%	0.0%	0.5%	-0.6%	-1.5%
Gold	GLD	7.0%	0.3%	0.8%	-5.3%	-4.4%
Commodity	DBC	4.0%	-0.2%	0.6%	3.3%	49.8%
Real Estate	VNQ	5.0%	-0.9%	1.3%	-1.4%	6.3%
Bitcoin	BTCUSD	2.0%	-0.2%	1.4%	-4.0%	-5.4%
Cash	GOVT	2.0%	0.0%	0.5%	-0.6%	-1.8%
Moderate Portfolio		100.0%	0.1%	1.1%	3.7%	28.1%

	ETF	%	1D	1W	1M	YTD
Equity	FXN	80.0%	0.2%	1.5%	7.7%	48.4%
Bond	BND	5.0%	0.0%	0.5%	-0.6%	-1.5%
Gold	GLD	3.0%	0.3%	0.8%	-5.3%	-4.4%
Commodity	DBC	2.2%	-0.2%	0.6%	3.3%	49.8%
Real Estate	VNQ	4.5%	-0.9%	1.3%	-1.4%	6.3%
Bitcoin	BTCUSD	5.2%	-0.2%	1.4%	-4.0%	-5.4%
Cash	GOVT	0.0%	0.0%	0.5%	-0.6%	-1.8%
Aggressive Portfolio		100.0%	0.1%	1.4%	5.8%	39.6%

	ETF	%	Return	Volatility	Sharpe
Equity	FXN	25.0%	7.1%	38.1%	0.27
Bond	BND	50.0%	1.3%	5.2%	-0.27
Gold	GLD	10.0%	12.2%	15.4%	0.65
Commodity	DBC	2.5%	8.2%	17.3%	0.36
Real Estate	VNQ	5.0%	5.2%	17.5%	0.21
Bitcoin	BTCUSD	0.0%	62.6%	76.4%	0.96
Cash	GOVT	7.5%	0.4%	4.9%	-0.47
Conservative Portfolio		100.0%	5.4%	11.1%	0.27

	ETF	%	Return	Volatility	Sharpe
Equity	FXN	55.0%	7.1%	38.1%	0.27
Bond	BND	25.0%	1.3%	5.2%	-0.27
Gold	GLD	7.0%	12.2%	15.4%	0.65
Commodity	DBC	4.0%	8.2%	17.3%	0.36
Real Estate	VNQ	5.0%	5.2%	17.5%	0.21
Bitcoin	BTCUSD	2.0%	62.6%	76.4%	0.96
Cash	GOVT	2.0%	0.4%	4.9%	-0.47
Moderate Portfolio		100.0%	8.6%	22.3%	0.35

	ETF	%	Return	Volatility	Sharpe
Equity	FXN	80.0%	7.1%	38.1%	0.27
Bond	BND	5.0%	1.3%	5.2%	-0.27
Gold	GLD	3.0%	12.2%	15.4%	0.65
Commodity	DBC	2.2%	8.2%	17.3%	0.36
Real Estate	VNQ	4.5%	5.2%	17.5%	0.21
Bitcoin	BTCUSD	5.2%	62.6%	76.4%	0.96
Cash	GOVT	0.0%	0.4%	4.9%	-0.47
Aggressive Portfolio		100.0%	11.0%	32.1%	0.39

Figures are on an annualized basis, based on monthly return data for the last 10 years

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	FXN	25.0%	39.9%	-58.3%	-37.2%
Bond	BND	50.0%	-14.2%	-2.2%	1.3%
Gold	GLD	10.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.5%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	0.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	7.5%	-12.4%	4.4%	1.6%
Conservative Portfolio		100.0%	0.2%	-18.7%	-9.0%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	FXN	55.0%	39.9%	-58.3%	-37.2%
Bond	BND	25.0%	-14.2%	-2.2%	1.3%
Gold	GLD	7.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	4.0%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	2.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	2.0%	-12.4%	4.4%	1.6%
Moderate Portfolio		100.0%	15.8%	-36.7%	-21.8%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	FXN	80.0%	39.9%	-58.3%	-37.2%
Bond	BND	5.0%	-14.2%	-2.2%	1.3%
Gold	GLD	3.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.2%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	4.5%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	5.2%	-56.0%	-33.5%	-37.4%
Cash	GOVT	0.0%	-12.4%	4.4%	1.6%
Aggressive Portfolio		100.0%	27.2%	-51.1%	-32.4%

The table shows the return of different asset classes during market crises - specifically during the period where the S&P fell and bottomed

Learn More →

Tailored Asset Allocation
[1] Personalized 5 Level Risk Tolerance Assessment
[2] Asset Allocation for My Risk Tolerance

Learn More →

Protect Wealth
[1] Defensive Portfolios
[2] Tax-Efficient Strategies

Valuation & Yield

	Forward [4,5]	Now	Historical (CYE & TTM)
	10/31/27	10/22/26	2025	2024	2023	2022	2021
Share Price CYE		$24.27	$16.36	$15.82	$15.78	$15.63	$10.64
Dividend/Share TTM		$0.26	$0.42	$0.41	$0.52	$0.39	$0.10
Valuation [1]
P/S	1.82	2.00	1.92	2.05	1.84	1.72	1.74
P/E		15.50	15.75	13.75	9.10	7.05	16.43
P/E (Non-GAAP) [2]	11.40	11.83	14.89	13.84	10.85	14.04	18.23
P/FCF		13.39	15.20	17.21	13.37	9.28	11.49
Yields TTM
Earnings Yield	8.77%	6.45%	6.35%	7.28%	10.98%	14.19%	6.09%
Dividend Yield	1.07%	1.07%	2.55%	2.58%	3.27%	2.49%	0.98%
Total Yield (TY)	9.84%	7.52%	8.90%	9.86%	14.25%	16.69%	7.06%
Risk Premium [3]
Risk Free Rate (Rf)	5.12%	5.12%	4.18%	4.58%	3.88%	3.88%	1.52%
Risk Prem. (TY - Rf)	4.72%	2.40%	4.72%	5.28%	10.37%	12.81%	5.54%
Growth Rates [6]
Sales Growth	-3.1%	11.2%	4.5%	-4.0%	-13.0%	57.6%
Earnings Growth [7]	-4.3%	41.5%	-2.7%	-37.2%	-22.2%	376.9%

[1] P/E uses the aggregate method over profitable constituents; P/FCF aggregates net free cash flow across all constituents (negative-FCF names reduce it); P/S uses all constituents. Ratios reflect current ETF holdings at current weights. P/FCF has no Forward column (no analyst FCF estimate).
[2] P/E (Non-GAAP) uses analyst consensus net income (adjusted basis) for all periods. The standard P/E row above uses GAAP net income.
[3] The premium above the risk free rate (US 10Y) offered by the investment. Negative premiums can indicate stretched valuations.
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Highlights

YIELD

FXN's earnings yield is 6.45%, based on its 15.5x trailing P/E. With a 1.07% dividend yield, FXN is yielding 7.52% in total.

RISK

Compared to US Treasuries at 5.12%, FXN's total yield implies a reasonable 2.40% risk premium. Risk premiums at this level suggest valuations are not excessive.

FORWARD EXPECTATIONS

Based on analyst estimates, FXN's forward total yield is 9.84%, implying a 4.72% risk premium assuming stable Treasury rates.

Top 20 Holdings for FXN

Total Weights
Top 5: 21.6% | Top 10: 40.9% | Top 20: 71.4%

Ticker	Holding	ETF Weight	Sales Weight	Earnings Weight	Fwd P/S	Fwd P/E	Fwd Sales Growth	Fwd Earnings Growth
Total		99.92%	100.00%	100.00%	1.6	11.1	-3.1%	-4.3%
Top 20		71.45%	76.80%	82.88%	1.5	9.9	-5.8%	-7.9%
MPC	Marathon Petroleum	4.44%	8.74%	4.13%	0.8	8.7	-6.8%	-17.1%
RRC	Range Resources	4.35%	2.45%	5.46%	2.8	10.4	+3.8%	-0.5%
AR	Antero Resources	4.32%	3.53%	5.78%	1.8	8.2	+1.6%	+6.4%
PSX	Phillips 66	4.26%	9.67%	3.82%	0.7	9.5	-6.0%	-6.7%
VLO	Valero Energy	4.22%	7.96%	3.49%	0.9	9.2	-10.1%	-14.4%
CHRD	Chord Energy	4.22%	5.47%	6.23%	1.4	7.9	-20.7%	-21.5%
EXE	Expand Energy	4.14%	4.44%	7.66%	1.8	10.4	-4.8%	+2.4%
FSLR	First Solar	3.74%	1.86%	5.12%	3.3	7.7	+17.5%	+34.4%
OVV	Ovintiv	3.62%	3.14%	2.51%	2.1	9.5	-7.0%	-5.4%
APA	APA	3.58%	3.14%	5.07%	2.0	9.8	-9.9%	-25.6%
PR	Permian Resources	3.53%	1.69%	3.08%	3.0	13.1	+2.7%	-2.7%
DINO	HF Sinclair	3.51%	8.44%	4.39%	0.7	8.5	-8.1%	-20.4%
EOG	EOG Resources	3.44%	1.91%	4.19%	3.0	10.2	-7.0%	-15.2%
MTDR	Matador Resources	3.36%	3.12%	4.99%	1.5	6.1	+13.6%	+22.9%
EQT	EQT	3.34%	1.62%	3.94%	3.8	14.8	-2.7%	-7.6%
DVN	Devon Energy	3.25%	2.37%	3.36%	1.9	16.1	-7.6%	-14.3%
COP	ConocoPhillips	2.62%	1.63%	2.02%	2.6	14.5	-7.0%	-12.7%
OXY	Occidental Petroleum	2.55%	1.53%	4.35%	2.4	12.4	-6.3%	-31.7%
CVX	Chevron	2.50%	2.02%	1.69%	2.0	14.9	-8.1%	-13.8%
XOM	Exxon Mobil	2.46%	2.07%	1.60%	1.8	15.5	-1.3%	-18.9%

[1] Total and Top 20 rows are weighted aggregates across constituents.
[2] Forward P/S and P/E ratios use consensus sales and earnings for the 12 months ending 10/31/27. Individual constituent FY1 and FY2 consensus figures adjusted to align with 10/31/27.
[3] Forward Sales and Non-GAAP Earnings Growth are calculated as next fiscal year (FY2) consensus growth over current fiscal year (FY1) consensus. They are not derived from the forward P/S and P/E multiples shown.

Performance for FXN Top Holdings

Ticker	Holding	Weight	Mkt Price 10/21	1D Rtn	1M Rtn	YTD Rtn	1Y Rtn	3Y Rtn	5Y Rtn	10Y Rtn
FXN	First Trust Energy AlphaDEX Fund	100.00%	24.27	0.2%	6.3%	48.4%	57.8%	44.7%	113.8%	99.3%
MPC	Marathon Petroleum	4.44%	467.98	-1.5%	16.3%	191.1%	160.2%	229.1%	674.8%	1,330.8%
RRC	Range Resources	4.35%	42.94	-1.6%	13.5%	22.7%	17.9%	28.6%	82.0%	23.5%
AR	Antero Resources	4.32%	38.51	-0.8%	13.4%	11.8%	18.5%	37.7%	90.0%	45.4%
PSX	Phillips 66	4.26%	290.07	-0.3%	10.8%	129.5%	132.2%	182.0%	319.6%	424.4%
VLO	Valero Energy	4.22%	436.75	0.8%	11.1%	172.3%	182.8%	261.6%	529.5%	1,049.0%
CHRD	Chord Energy	4.22%	150.85	-0.9%	8.2%	67.4%	76.5%	3.9%	113.1%
EXE	Expand Energy	4.14%	92.83	0.2%	5.9%	-14.4%	-10.5%	14.7%	88.7%
FSLR	First Solar	3.74%	174.82	0.2%	-12.5%	-33.1%	-22.9%	16.0%	64.6%	313.8%
OVV	Ovintiv	3.62%	69.86	-0.6%	16.1%	81.0%	97.7%	51.6%	102.2%	57.8%
APA	APA	3.58%	49.38	-1.0%	12.7%	106.6%	126.3%	30.5%	107.1%
PR	Permian Resources	3.53%	24.84	0.0%	13.1%	81.2%	108.8%	86.4%	300.6%	94.1%
DINO	HF Sinclair	3.51%	125.57	0.2%	14.9%	178.9%	153.5%	152.3%	307.9%	616.9%
EOG	EOG Resources	3.44%	157.88	-0.0%	12.4%	55.1%	53.6%	31.9%	117.8%	133.4%
MTDR	Matador Resources	3.36%	57.75	0.5%	6.8%	39.1%	35.7%	-4.8%	43.6%	163.2%
EQT	EQT	3.34%	54.07	-1.4%	7.9%	1.8%	-1.8%	33.2%	171.3%	70.0%
DVN	Devon Energy	3.25%	49.87	-1.0%	4.8%	38.7%	59.5%	13.9%	56.2%	68.8%
COP	ConocoPhillips	2.62%	145.67	-0.2%	14.2%	59.0%	73.9%	28.5%	133.9%	383.6%
OXY	Occidental Petroleum	2.55%	62.70	-0.3%	9.5%	54.6%	56.3%	1.6%	98.6%	10.4%
CVX	Chevron	2.50%	226.78	0.5%	11.3%	53.0%	53.3%	54.1%	145.7%	241.3%
XOM	Exxon Mobil	2.46%	178.09	0.1%	12.5%	51.0%	62.6%	76.9%	236.2%	216.7%

Guidance Updates for FXN Top Holdings

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
FXN Return	52%	47%	1%	0%	3%	48%	246%
Peers Return	36%	-1%	24%	18%	17%	26%	190%
S&P 500 Return	27%	-19%	24%	23%	16%	12%	104%
Monthly Win Rates [3]
FXN Win Rate	67%	67%	42%	42%	58%	70%
Peers Win Rate	72%	43%	62%	63%	63%	50%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
FXN Max Drawdown	-18%	-25%	-18%	-19%	-28%	-13%
Peers Max Drawdown	-11%	-27%	-13%	-13%	-20%	-14%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: VGT, XLK, XLF, XLV, XLE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/21/2026 (YTD)

Sharpe Ratios Compared

One measure of reward vs. risk is a Sharpe ratio. A higher ratio indicates better risk-adjusted returns. Most funds have Sharpe ratios < 1.0.

Ticker	1Y	3Y	5Y
FXN	1.20	0.34	0.55
Equity Top Results (3Y)
IALT	2.30	2.30	2.30
VLUE	2.18	1.44	0.76
SPMO	0.89	1.43	0.86
SMH	1.69	1.38	0.95
CGDV	1.03	1.35	0.89

Results as of 9302026.

Event	FXN	S&P 500
2025 US Tariff Shock
% Loss	-25.4%	-18.8%
% Gain to Breakeven	34.0%	23.1%
Time to Breakeven	239 days	79 days
2023 SVB Regional Banking Crisis
% Loss	-15.2%	-6.7%
% Gain to Breakeven	18.0%	7.1%
Time to Breakeven	82 days	31 days
2020 COVID-19 Crash
% Loss	-61.5%	-33.7%
% Gain to Breakeven	159.5%	50.9%
Time to Breakeven	77 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-40.8%	-19.2%
% Gain to Breakeven	68.8%	23.8%
Time to Breakeven	1211 days	105 days
2016-2017 Trump Reflation Bond Selloff
% Loss	-15.1%	-3.7%
% Gain to Breakeven	17.8%	3.9%
Time to Breakeven	138 days	6 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-34.9%	-12.2%
% Gain to Breakeven	53.6%	13.9%
Time to Breakeven	320 days	62 days

Compare to VGT, XLK, XLF, XLV, XLE

In The Past

First Trust Energy AlphaDEX Fund's stock fell -25.4% during the 2025 US Tariff Shock. Such a loss loss requires a 34.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	FXN	S&P 500
2025 US Tariff Shock
% Loss	-25.4%	-18.8%
% Gain to Breakeven	34.0%	23.1%
Time to Breakeven	239 days	79 days
2020 COVID-19 Crash
% Loss	-61.5%	-33.7%
% Gain to Breakeven	159.5%	50.9%
Time to Breakeven	77 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-40.8%	-19.2%
% Gain to Breakeven	68.8%	23.8%
Time to Breakeven	1211 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-34.9%	-12.2%
% Gain to Breakeven	53.6%	13.9%
Time to Breakeven	320 days	62 days
2014-2016 Oil Price Collapse
% Loss	-61.4%	-6.8%
% Gain to Breakeven	159.3%	7.3%
Time to Breakeven	3716 days	15 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-36.9%	-17.9%
% Gain to Breakeven	58.5%	21.8%
Time to Breakeven	745 days	123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
% Loss	-22.9%	-15.4%
% Gain to Breakeven	29.7%	18.2%
Time to Breakeven	125 days	125 days
2008-2009 Global Financial Crisis
% Loss	-64.0%	-53.4%
% Gain to Breakeven	177.9%	114.4%
Time to Breakeven	703 days	1085 days

Compare to VGT, XLK, XLF, XLV, XLE

In The Past

First Trust Energy AlphaDEX Fund's stock fell -25.4% during the 2025 US Tariff Shock. Such a loss loss requires a 34.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

FXN Dip Buy History

FXN had 36 events since 5/10/2007 where the dip threshold of -5.0% within 60 trading days was triggered

19% median peak return within 1 year of dip event
151 days is the median time to peak return after a dip event
-19% median max drawdown within 1 year of dip event

60 Trading-Day Dip			FXN Subsequent Performance
Date	FXN	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			-2%	19%	-19%	151
6/17/2026	-6%	13%			-2%	90
2/21/2025	-5%	1%	22%	22%	-23%	371
12/18/2024	-6%	3%	7%	16%	-17%	30
6/28/2024	-5%	5%	-11%	3%	-28%	19
11/28/2023	-5%	1%	8%	17%	-6%	129
12/8/2022	-6%	1%	-2%	11%	-14%	314
9/1/2022	-8%	-4%	8%	14%	-14%	75
6/17/2022	-6%	-17%	6%	32%	-6%	151
8/16/2021	-5%	8%	71%	88%	-5%	295
8/28/2020	-5%	13%	59%	78%	-17%	307
1/27/2020	-6%	7%	0%	10%	-62%	353
12/3/2019	-9%	4%	-12%	20%	-62%	35
5/1/2019	-6%	8%	-47%	0%	-72%	0
10/23/2018	-9%	-2%	-37%	1%	-42%	15
8/15/2018	-8%	4%	-41%	13%	-43%	49
2/5/2018	-5%	3%	-7%	29%	-23%	240
3/3/2017	-7%	9%	-7%	7%	-21%	326
11/4/2016	-5%	-4%	9%	24%	-11%	35
8/31/2016	-8%	3%	-13%	18%	-16%	100
7/21/2016	-5%	4%	-8%	19%	-12%	141
12/7/2015	-6%	6%	19%	19%	-24%	365
6/29/2015	-7%	0%	-26%	0%	-45%	1
9/12/2014	-6%	2%	-43%	1%	-46%	4
2/3/2014	-6%	-1%	-5%	28%	-19%	140
6/24/2013	-5%	1%	38%	41%	0%	364
11/14/2012	-6%	-4%	40%	40%	0%	365
4/16/2012	-6%	5%	12%	24%	-13%	304
1/26/2012	-7%	3%	12%	12%	-18%	369
8/4/2011	-12%	-11%	-11%	5%	-25%	203
5/16/2011	-6%	0%	-23%	10%	-31%	67
5/20/2010	-9%	-3%	55%	68%	-3%	344
2/5/2010	-6%	-2%	45%	46%	-8%	362
7/23/2008	-8%	-8%	-42%	4%	-65%	7
3/24/2008	-5%	-9%	-52%	38%	-62%	91
1/16/2008	-6%	-8%	-49%	43%	-57%	159
8/15/2007	-6%	-7%	14%	53%	-4%	313

[1] Dip event: the stock fell more than 5.0% over 60 trading days. A new event is counted only when it comes more than 30 calendar days after the previous one.
[2] Analysis for period from 1/1/2005 to 10/21/2026

FXN had 16 events since 5/10/2007 where the dip threshold of -10% within 90 trading days was triggered

12% median peak return within 1 year of dip event
183 days is the median time to peak return after a dip event
-19% median max drawdown within 1 year of dip event

90 Trading-Day Dip			FXN Subsequent Performance
Date	FXN	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			3%	12%	-19%	183
4/3/2025	-14%	-9%	45%	58%	-14%	358
8/7/2024	-10%	-1%	-5%	10%	-21%	163
1/18/2024	-11%	8%	16%	24%	0%	78
3/8/2023	-10%	5%	10%	14%	-11%	224
9/26/2022	-11%	-10%	24%	33%	0%	50
9/24/2020	-12%	11%	105%	114%	0%	280
1/24/2020	-13%	11%	-1%	6%	-64%	356
5/23/2019	-14%	10%	-40%	2%	-69%	39
10/24/2018	-11%	-4%	-33%	6%	-39%	14
4/13/2017	-10%	7%	6%	13%	-16%	285
6/29/2015	-11%	-1%	-26%	0%	-45%	1
10/7/2014	-11%	1%	-30%	1%	-42%	1
5/14/2012	-11%	5%	27%	30%	-9%	276
8/4/2011	-13%	-8%	-11%	5%	-25%	203
5/19/2010	-12%	-2%	46%	59%	-8%	345
8/18/2008	-11%	-5%	-37%	10%	-62%	3

[1] Dip event: the stock fell more than 10% over 90 trading days. A new event is counted only when it comes more than 30 calendar days after the previous one.
[2] Analysis for period from 1/1/2005 to 10/21/2026

FXN had 9 events since 5/10/2007 where the dip threshold of -20% within 180 trading days was triggered

21% median peak return within 1 year of dip event
144 days is the median time to peak return after a dip event
-17% median max drawdown within 1 year of dip event

180 Trading-Day Dip			FXN Subsequent Performance
Date	FXN	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			5%	21%	-17%	144
4/4/2025	-26%	-8%	63%	77%	-4%	357
12/20/2018	-21%	-6%	-7%	22%	-21%	124
8/18/2017	-23%	12%	34%	43%	-1%	325
7/10/2015	-21%	9%	-21%	3%	-42%	4
12/8/2014	-22%	12%	-27%	18%	-28%	144
4/9/2012	-21%	4%	15%	19%	-17%	311
11/25/2011	-21%	-10%	5%	21%	-10%	90
9/28/2011	-20%	-8%	15%	28%	-9%	148
9/16/2008	-20%	-16%	-13%	13%	-55%	6

[1] Dip event: the stock fell more than 20% over 180 trading days. A new event is counted only when it comes more than 30 calendar days after the previous one.
[2] Analysis for period from 1/1/2005 to 10/21/2026

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Current Dip Buy Opportunities Across ETFs

ETFs currently down 5% or more from trailing 6M peaks.

Ticker	Name	Dip %	Mkt Price	Price Date	Peak Price	Peak Date	# Days
QQEW	First Trust Nasdaq-100 Select Equal Weight ETF	-5.2%	158.37	10212026	167.03	8132026	69
IJH	iShares Core S&P Mid-Cap ETF	-6.7%	73.39	10212026	78.67	8162026	66
MDY	State Street SPDR S&P MIDCAP 400 ETF Trust	-6.6%	669.42	10212026	716.91	8162026	66
SCHM	Schwab U.S. Mid-Cap ETF	-5.8%	34.73	10212026	36.87	6302026	113
IVOO	Vanguard S&P Mid-Cap 400 ETF	-6.4%	124.22	10212026	132.68	8162026	66
IJR	iShares Core S&P Small-Cap ETF	-8.4%	137.78	10212026	150.44	8162026	66
VB	Vanguard Small-Cap ETF	-6.2%	289.30	10212026	308.38	8162026	66
IWM	iShares Russell 2000 ETF	-9.4%	276.48	10212026	305.09	8162026	66
SCHA	Schwab U.S. Small-Cap ETF	-9.6%	32.67	10212026	36.13	6302026	113
VTWO	Vanguard Russell 2000 ETF	-9.1%	111.67	10212026	122.90	8162026	66
DFAS	Dimensional U.S. Small Cap ETF	-6.7%	78.80	10212026	84.48	8162026	66
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	-6.5%	52.94	10212026	56.64	8162026	66
NUSC	Nuveen ESG Small-Cap ETF	-6.6%	49.73	10212026	53.27	8162026	66
AKRE	Akre Focus ETF	-6.0%	58.13	10212026	61.85	8302026	52
IWP	iShares Russell Mid-Cap Growth ETF	-7.3%	136.88	10212026	147.70	8172026	65
VOT	Vanguard Mid-Cap Growth ETF	-6.3%	293.83	10212026	313.61	8162026	66
IJK	iShares S&P Mid-Cap 400 Growth ETF	-7.8%	109.87	10212026	119.11	8172026	65
MDYG	State Street SPDR S&P 400 Mid Cap Growth ETF	-7.8%	104.80	10212026	113.69	8172026	65
IWO	iShares Russell 2000 Growth ETF	-11.4%	350.51	10212026	395.65	8162026	66
VBK	Vanguard Small-Cap Growth ETF	-8.4%	335.17	10212026	365.91	8172026	65
IJT	iShares S&P Small-Cap 600 Growth ETF	-9.5%	162.09	10212026	179.07	8042026	78
SLYG	State Street SPDR S&P 600 Small Cap Growth ETF	-9.5%	108.16	10212026	119.50	8042026	78
IJJ	iShares S&P Mid-Cap 400 Value ETF	-5.7%	143.07	10212026	151.67	8162026	66
MDYV	State Street SPDR S&P 400 Mid Cap Value ETF	-5.6%	91.89	10212026	97.39	8162026	66
AVUV	Avantis U.S. Small Cap Value ETF	-6.1%	120.92	10212026	128.74	8042026	78
IWN	iShares Russell 2000 Value ETF	-7.2%	211.02	10212026	227.43	8162026	66
IJS	iShares S&P Small-Cap 600 Value ETF	-7.6%	130.00	10212026	140.68	8162026	66
SLYV	State Street SPDR S&P 600 Small Cap Value ETF	-7.7%	103.62	10212026	112.22	8162026	66
VIOV	Vanguard S&P Small-Cap 600 Value ETF	-7.1%	111.72	10212026	120.28	8162026	66
VGK	Vanguard FTSE Europe ETF	-5.8%	87.58	10212026	92.96	8252026	57
VSS	Vanguard FTSE All-World EX-US Small-Cap Index Fund	-5.5%	152.55	10212026	161.49	5112026	163
SCHC	Schwab International Small-Cap Equity ETF	-5.6%	48.97	10212026	51.86	8272026	55
IEMG	iShares Core MSCI Emerging Markets ETF	-9.7%	77.68	10212026	86.00	6222026	121
VWO	Vanguard FTSE Emerging Markets ETF	-5.1%	58.18	10212026	61.32	9072026	44
EEM	iShares MSCI Emerging Markets ETF	-10.7%	63.57	10212026	71.21	6222026	121
ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	-16.8%	31.02	10212026	37.30	6222026	121
EWY	iShares MSCI South Korea ETF	-28.4%	156.88	10212026	219.20	6212026	122
FXI	iShares China Large-Cap ETF	-13.9%	32.94	10212026	38.26	5132026	161
KWEB	KraneShares CSI China Internet ETF	-22.4%	23.74	10212026	30.59	5132026	161
RYLD	Global X Russell 2000 Covered Call ETF	-5.8%	15.22	10212026	16.16	8272026	55
MTUM	iShares MSCI USA Momentum Factor ETF	-13.2%	299.56	10212026	345.22	6222026	121
SPHQ	Invesco S&P 500 Quality ETF	-6.1%	84.59	10212026	90.10	6302026	113
FNDA	Schwab Fundamental U.S. Small Company ETF	-7.2%	35.74	10212026	38.52	8162026	66
SPMO	Invesco S&P 500 Momentum ETF	-11.4%	143.15	10212026	161.66	6222026	121
VLUE	iShares MSCI USA Value Factor ETF	-5.4%	194.48	10212026	205.51	9072026	44
ARKK	ARK Innovation ETF	-7.9%	85.42	10212026	92.78	10052026	16
URA	Global X Uranium ETF	-39.0%	35.55	10212026	58.26	5062026	168
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-19.3%	33.59	10212026	41.63	5132026	161
ROBO	ROBO Global Robotics & Automation Index ETF	-14.2%	77.55	10212026	90.34	6022026	141
LIT	Global X Lithium & Battery Tech ETF	-31.0%	63.20	10212026	91.62	5112026	163
ICLN	iShares Global Clean Energy ETF	-30.5%	16.50	10212026	23.75	6022026	141
ARKQ	ARK Autonomous Technology & Robotics ETF	-19.4%	115.85	10212026	143.82	5282026	146
ARKX	ARK Space & Defense Innovation ETF	-19.1%	30.55	10212026	37.74	5282026	146
NASA	Tema Space Innovators ETF	-48.6%	21.55	10212026	41.89	5272026	147
AGIX	KraneShares Artificial Intelligence ETF	-9.0%	45.09	10212026	49.56	10062026	15
DRSK	Aptus Defined Risk ETF	-7.7%	27.14	10212026	29.39	6012026	142
PCEF	Invesco CEF Income Composite ETF	-5.4%	19.26	10212026	20.35	8132026	69
YYY	Amplify CEF High Income ETF	-9.2%	10.32	10212026	11.37	8162026	66
GDE	WisdomTree Efficient Gold Plus Equity Strategy Fund	-10.2%	64.05	10212026	71.30	8252026	57
RAAX	VanEck Real Assets ETF	-5.4%	40.38	10212026	42.70	5112026	163
VGT	Vanguard Information Technology ETF	-5.8%	122.25	10212026	129.80	10062026	15
XLK	State Street Technology Select Sector SPDR ETF	-6.7%	188.54	10212026	202.00	10062026	15
XLI	State Street Industrial Select Sector SPDR ETF	-9.8%	168.31	10212026	186.51	8162026	66
XLC	State Street Communication Services Select Sector SPDR ETF	-7.3%	108.97	10212026	117.57	4222026	182
XLY	State Street Consumer Discretionary Select Sector SPDR ETF	-5.2%	115.53	10212026	121.82	5282026	146
XLU	State Street Utilities Select Sector SPDR ETF	-9.8%	42.00	10212026	46.55	4302026	174
IYJ	iShares U.S. Industrials ETF	-6.9%	158.17	10212026	169.86	8042026	78
IYM	iShares U.S. Basic Materials ETF	-6.7%	183.28	10212026	196.45	8252026	57
SMH	VanEck Semiconductor ETF	-16.8%	556.70	10212026	668.91	6222026	121
SOXX	iShares Semiconductor ETF	-22.1%	510.36	10212026	655.01	6222026	121
XBI	State Street SPDR S&P Biotech ETF	-9.9%	152.78	10212026	169.55	8192026	63
ITA	iShares U.S. Aerospace & Defense ETF	-18.7%	205.79	10212026	253.22	8162026	66
IYT	iShares U.S. Transportation ETF	-11.2%	79.95	10212026	90.01	7162026	97
IAI	iShares U.S. Broker-Dealers & Securities Exchanges ETF	-9.6%	179.11	10212026	198.06	9032026	48
KRE	State Street SPDR S&P Regional Banking ETF	-9.4%	70.62	10212026	77.93	8162026	66
MISL	First Trust Indxx Aerospace & Defense ETF	-15.9%	41.37	10212026	49.19	5282026	146
RING	iShares MSCI Global Gold Miners ETF	-18.8%	75.62	10212026	93.17	8252026	57
SOXQ	Invesco PHLX Semiconductor ETF	-21.4%	90.53	10212026	115.11	6222026	121
IGOV	iShares International Treasury Bond ETF	-5.2%	40.08	10212026	42.27	5102026	164
TLT	iShares 20+ Year Treasury Bond ETF	-6.8%	80.24	10212026	86.10	6292026	114
VGLT	Vanguard Long-Term Treasury ETF	-6.2%	51.48	10212026	54.89	6292026	114
SPTL	State Street SPDR Portfolio Long Term Treasury ETF	-6.3%	24.49	10212026	26.13	6292026	114
TLH	iShares 10-20 Year Treasury Bond ETF	-5.6%	94.19	10212026	99.78	6292026	114
EDV	Vanguard World Funds Extended Duration ETF	-10.3%	57.90	10212026	64.54	6242026	119
VCLT	Vanguard Long-Term Corporate Bond ETF	-6.2%	69.82	10212026	74.47	6292026	114
SPLB	State Street SPDR Portfolio Long Term Corporate Bond ETF	-6.4%	20.77	10212026	22.18	6292026	114
IGLB	iShares 10+ Year Investment Grade Corporate Bond ETF	-6.2%	46.48	10212026	49.56	6292026	114
LMUB	iShares Long-Term National Muni Bond ETF	-6.7%	47.23	10212026	50.63	7052026	108
GLD	SPDR Gold Trust	-12.9%	378.95	10212026	435.26	4222026	182
IAU	iShares Gold Trust	-12.9%	77.71	10212026	89.19	4222026	182
GLDM	SPDR Gold MiniShares Trust	-12.8%	81.79	10212026	93.81	4222026	182
SLV	iShares Silver Trust	-34.1%	52.26	10212026	79.35	5132026	161
PPLT	ETFS Physical Platinum Shares	-24.4%	14.77	10212026	19.55	5132026	161
PALL	ETFS Physical Palladium Shares	-29.7%	19.78	10212026	28.14	4222026	182
UNG	United States Natural Gas Fund LP	-17.7%	9.97	10212026	12.12	6042026	139
BNO	United States Brent Oil Fund LP ETV	-7.1%	55.85	10212026	60.13	5042026	170
VNQ	Vanguard Real Estate ETF	-8.6%	91.49	10212026	100.08	7282026	85
XLRE	State Street Real Estate Select Sector SPDR ETF	-8.6%	42.06	10212026	46.01	7282026	85
SCHH	Schwab U.S. REIT ETF	-9.9%	22.41	10212026	24.86	7262026	87
IYR	iShares U.S. Real Estate ETF	-9.5%	97.07	10212026	107.26	7282026	85
REET	iShares Global REIT ETF	-10.3%	25.91	10212026	28.89	7262026	87
USRT	iShares Core U.S. REIT ETF	-10.8%	62.28	10212026	69.82	7262026	87
ETHA	iShares Ethereum Trust ETF	-6.7%	56.43	10212026	60.45	9282026	23

ETF Fund Flows

Largest fund inflows and outflows across ETFs, with the asset-allocation rotation they imply.

Net fund flows · as of 2026-10-21

Asset allocation rotation · Past week

Equity ETFs drew the largest net inflows (+$5.2B), followed by Bond (+$3.7B), while Real Estate (−$223M) saw the largest outflows.
Within the mix, money rotated into Industry Subsector (+$6.4B) and out of US Small Cap Core (−$5.1B).
Relative to fund size, ALAI drew the largest inflow (+36.3% of AUM) and IHDG the largest outflow (−20.0%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$4.5B	+0.4%
2	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$4.33B	+10.3%
3	SMH	VanEck Semiconductor ETF	Equity Industry Subsector	+$2.08B	+3.1%
4	MUB	iShares National Muni Bond ETF	Bond Municipal	+$1.72B	+3.3%
5	EMXC	iShares MSCI Emerging Markets ex China ETF	Other	+$1.45B	+5.7%
6	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$1.16B	+0.2%
7	VT	Vanguard Total World Stock ETF	Other	+$1.07B	+1.3%
8	VTV	Vanguard Morningstar Value ETF	Equity US Large Value	+$868M	+0.5%
9	IBIT	iShares Bitcoin Trust ETF	Crypto	+$864M	+1.3%
10	BND	Vanguard Total Bond Market ETF	Bond US Aggregate Core	+$847M	+0.5%

#	Ticker	Name	Type	Net flow	% of AUM
1	ALAI	Alger AI Enablers & Adopters ETF	Other	+$691M	+36.3%
2	KRE	State Street SPDR S&P Regional Banking ETF	Equity Industry Subsector	+$738M	+18.5%
3	IWX	iShares Russell Top 200 Value ETF	Other	+$474M	+12.8%
4	CNEQ	Alger Concentrated Equity ETF	Other	+$614M	+10.5%
5	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$4.33B	+10.3%
6	VSDM	Vanguard Municipal Bond Funds - Vanguard Short Duration Tax-Exempt Bond ETF	Other	+$133M	+9.8%
7	VCRM	Vanguard Core Tax-Exempt Bond E	Other	+$246M	+9.3%
8	FLKR	Franklin FTSE South Korea ETF	Other	+$148M	+8.7%
9	SCMB	Schwab Municipal Bond ETF	Other	+$317M	+8.2%
10	VTEI	Vanguard Intermediate-Term Tax-Exempt Bond ETF	Other	+$154M	+7.3%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	-$5.06B	-6.8%
2	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	-$4.05B	-0.5%
3	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$2.35B	-0.3%
4	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	-$1.25B	-0.3%
5	XLU	State Street Utilities Select Sector SPDR ETF	Equity Broad Sector	-$1.06B	-4.4%
6	TCAF	T. Rowe Capital Appreciation Equity ETF	Other	-$1.02B	-11.9%
7	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	-$905M	-1.9%
8	DXJ	WisdomTree Japan Hedged Equity Fund	Other	-$815M	-11.3%
9	IWF	iShares Russell 1000 Growth ETF	Equity US Large Growth	-$772M	-0.6%
10	IGV	iShares Expanded Tech-Software Sector ETF	Equity Industry Subsector	-$682M	-4.8%

#	Ticker	Name	Type	Net flow	% of AUM
1	IHDG	WisdomTree International Hedged Quality Dividend Growth Fund	Other	-$418M	-20.0%
2	IYK	iShares U.S. Consumer Staples ETF	Other	-$295M	-18.3%
3	XHB	State Street SPDR S&P Homebuilders ETF	Other	-$195M	-14.0%
4	ITB	iShares U.S. Home Construction ETF	Other	-$311M	-13.6%
5	CQQQ	Invesco China Technology ETF	Other	-$268M	-13.0%
6	TCAF	T. Rowe Capital Appreciation Equity ETF	Other	-$1.02B	-11.9%
7	DXJ	WisdomTree Japan Hedged Equity Fund	Other	-$815M	-11.3%
8	ARKG	ARK Genomic Revolution ETF	Other	-$236M	-11.3% ⚠
9	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$103M	-8.7%
10	ICF	iShares Select U.S. REIT ETF	Other	-$152M	-7.9%

Asset allocation rotation · Past month

Equity ETFs drew the largest net inflows (+$71.9B), followed by Bond (+$35.5B), with every major asset class in net inflows.
Within the mix, money rotated into US Large Cap Core (+$31.3B) and out of Factor Smart Beta (−$8.4B).
Relative to fund size, CNEQ drew the largest inflow (+95.4% of AUM) and MTBA the largest outflow (−34.8%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$32.07B	+3.6%
2	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$17.6B	+2.2%
3	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$9.85B	+5.5%
4	MUB	iShares National Muni Bond ETF	Bond Municipal	+$6.91B	+14.4%
5	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$6.0B	+34.2%
6	IUSB	iShares Core Universal USD Bond ETF	Bond Core Plus Multisector	+$5.76B	+11.9%
7	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$5.31B	+40.5%
8	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$5.26B	+4.6%
9	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$4.64B	+0.9%
10	VTEB	Vanguard Tax-Exempt Bond ETF	Bond Municipal	+$4.5B	+9.1%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$3.2B	+95.4%
2	ALAI	Alger AI Enablers & Adopters ETF	Other	+$1.21B	+88.8%
3	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$5.31B	+40.5%
4	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	+$4.14B	+36.1%
5	VSDM	Vanguard Municipal Bond Funds - Vanguard Short Duration Tax-Exempt Bond ETF	Other	+$427M	+35.9%
6	VCRM	Vanguard Core Tax-Exempt Bond E	Other	+$807M	+35.5%
7	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$6.0B	+34.2%
8	VTEI	Vanguard Intermediate-Term Tax-Exempt Bond ETF	Other	+$534M	+30.8%
9	BLCR	iShares Large Cap Core Active ETF	Other	+$2.96B	+30.7%
10	GGOV	iShares Global Government Bond USD Hedged Active ETF	Bond International	+$1.11B	+27.1%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$28.19B	-2.7%
2	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$5.56B	-27.4%
3	COWZ	Pacer US Cash Cows 100 ETF	Equity Factor Smart Beta	-$3.71B	-19.6%
4	MBB	iShares MBS ETF	Bond Mortgage Backed	-$3.33B	-9.4%
5	DRAM	Roundhill Memory ETF	Other	-$2.44B	-9.7%
6	DIA	State Street SPDR Dow Jones Industrial Average ETF Trust	Equity US Large Concentrated	-$2.26B	-5.0%
7	VO	Vanguard Morningstar Mid-Cap ETF	Equity US Mid Cap Core	-$2.15B	-2.0%
8	VFLO	VictoryShares Free Cash Flow ETF	Other	-$1.94B	-17.4%
9	VUG	Vanguard Morningstar Growth ETF	Equity US Large Growth	-$1.85B	-0.8%
10	IQMM	ProShares - GENIUS Money Market ETF	Other	-$1.63B	-8.3%

#	Ticker	Name	Type	Net flow	% of AUM
1	MTBA	Simplify MBS ETF	Other	-$350M	-34.8%
2	AGIX	KraneShares Public-Private AI & Technology ETF	Equity Thematic	-$326M	-28.5%
3	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$5.56B	-27.4%
4	CALF	Pacer US Small Cap Cash Cows ETF	Other	-$784M	-21.8%
5	EUFN	iShares MSCI Europe Financials ETF	Other	-$774M	-20.8%
6	COWZ	Pacer US Cash Cows 100 ETF	Equity Factor Smart Beta	-$3.71B	-19.6%
7	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$263M	-19.5%
8	JNK	State Street SPDR Bloomberg High Yield Bond ETF	Bond High Yield Corporate	-$1.02B	-17.4%
9	VFLO	VictoryShares Free Cash Flow ETF	Other	-$1.94B	-17.4%
10	USO	United States Oil Fund, LP	Commodity Energy	-$309M	-16.6%

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$154.6B), followed by Bond (+$66.4B), with every major asset class in net inflows.
Within the mix, money rotated into US Large Cap Core (+$32.9B) and out of Intermediate Treasury (−$4.9B).
Relative to fund size, CNEQ drew the largest inflow (+209.3% of AUM) and FTXL the largest outflow (−78.6%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$30.94B	+3.0%
2	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$18.52B	+10.9%
3	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$17.38B	+16.1%
4	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$16.77B	+2.4%
5	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$10.01B	+9.1%
6	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$9.47B	+2.0%
7	MUB	iShares National Muni Bond ETF	Bond Municipal	+$8.78B	+19.2%
8	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$8.14B	+7.8%
9	BND	Vanguard Total Bond Market ETF	Bond US Aggregate Core	+$7.97B	+4.9%
10	GLD	SPDR Gold Shares	Commodity Gold	+$7.64B	+5.3%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$5.37B	+209.3%
2	ALAI	Alger AI Enablers & Adopters ETF	Other	+$2.02B	+164.8%
3	VTES	Vanguard Short-Term Tax-Exempt Bond ETF	Other	+$1.93B	+75.6%
4	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$1.25B	+74.2%
5	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$1.31B	+69.8%
6	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$5.77B	+68.9%
7	ARKK	ARK Innovation ETF	Equity Thematic	+$3.72B	+58.0% ⚠
8	BKGI	BNY Mellon Global Infrastructure Income ETF	Other	+$872M	+55.2%
9	VCRM	Vanguard Core Tax-Exempt Bond E	Other	+$1.01B	+53.5%
10	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$6.67B	+53.4%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$19.96B	-2.3%
2	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$6.93B	-28.4%
3	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$4.73B	-11.3%
4	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$4.25B	-14.3%
5	XLF	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$3.24B	-5.9%
6	DRAM	Roundhill Memory ETF	Other	-$2.68B	-10.6%
7	MBB	iShares MBS ETF	Bond Mortgage Backed	-$2.67B	-6.9%
8	USHY	iShares Broad USD High Yield Corporate Bond ETF	Bond High Yield Corporate	-$2.51B	-8.8%
9	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	-$2.23B	-2.8%
10	EMB	iShares J.P. Morgan USD Emerging Markets Bond ETF	Other	-$1.62B	-11.2%

#	Ticker	Name	Type	Net flow	% of AUM
1	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$1.03B	-78.6%
2	USO	United States Oil Fund, LP	Commodity Energy	-$946M	-49.8%
3	MTBA	Simplify MBS ETF	Other	-$558M	-38.8%
4	TAN	Invesco Solar ETF	Other	-$376M	-37.0%
5	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	-$547M	-34.5%
6	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$566M	-31.2%
7	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$6.93B	-28.4%
8	BKAG	BNY Mellon Core Bond ETF	Other	-$613M	-27.4%
9	CTA	Simplify Managed Futures Strategy ETF	Other	-$399M	-25.9%
10	IVES	Dan Ives Wedbush AI Revolution ETF	Other	-$244M	-23.4%

Largest ETF fund flows across ~2646 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.

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About FXN

Holdings Count: 40
Expense Ratio: 0.63%
Inception Date: 2007-05-08

First Trust Energy AlphaDEX Fund
The First Trust Energy AlphaDEX Fund functions as an exchange-traded fund. Its primary goal is to replicate the performance, in terms of both price movements and dividend income, of a specific equity benchmark known as the StrataQuant Energy Index, prior to accounting for any associated fees and operational expenses.
Asset Class: Sector Equity | ETF Website

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
CYPH	Cypherpunk Technologies	0.6	18.5%	187.1%
NUAI	New Era Energy & Digital	0.3	17.7%	13.3%
ENVX	Enovix	0.6	12.9%	-65.3%
ABTC	American Bitcoin	0.6	12.5%	-66.1%
SWRD	Stewards	-	11.9%	-48.4%
ALMR	Alamar Biosciences	1.8	11.7%	43.0%
CNTN	Canton Strategic	0.4	11.6%	-36.3%
ELMT	Elmet	0.6	11.5%	18.5%
NXTT	Next Technology	0.8	10.8%	-8.1%
ABSI	Absci	1.6	10.7%	187.7%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
AVEX	AEVEX	0.5	-32.5%	-64.1%
RCUS	Arcus Biosciences	2.4	-19.6%	-19.8%
RAPP	Rapport Therapeutics	1.2	-14.7%	-17.4%
MDXG	MiMedx	0.6	-11.6%	-44.8%
IART	Integra Lifesciences	0.9	-11.2%	-4.7%
CAPR	Capricor Therapeutics	0.3	-11.0%	-79.6%
LAD	Lithia Motors	6.1	-10.1%	-18.5%
FUN	Six Flags Entertainment	0.7	-10.1%	-53.9%
CTBI	Community Trust Bancorp	1.2	-9.3%	24.1%
MHO	M/I Homes	2.9	-8.1%	-10.9%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
BRZE	Braze	5.1	61.7%	33.2%
IRON	Disc Medicine	2.9	36.3%	-4.3%
SGMT	Sagimet Biosciences	0.5	32.4%	68.8%
CYPH	Cypherpunk Technologies	0.6	27.1%	187.1%
APPN	Appian	3.6	26.7%	37.6%
TRAX	First Tracks Biotherapeutics	1.5	25.3%	129.9%
VRDN	Viridian Therapeutics	2.5	25.2%	-26.1%
MAZE	Maze Therapeutics	1.9	24.2%	-21.4%
ALMR	Alamar Biosciences	1.8	24.0%	43.0%
EQPT	EquipmentShare.com	4.3	22.9%	-48.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
FMC	FMC	0.6	-37.8%	-63.0%
GLAS	Glass House Brands	0.2	-36.9%	-73.7%
AVEX	AEVEX	0.5	-31.7%	-64.1%
QMCO	Quantum	0.4	-26.2%	173.2%
FUN	Six Flags Entertainment	0.7	-20.9%	-53.9%
MDXG	MiMedx	0.6	-20.4%	-44.8%
GEMI	Gemini Space Station	0.4	-18.2%	-68.1%
TE	T1 Energy	0.7	-17.9%	-64.4%
TBN	Tamboran Resources	0.7	-17.8%	6.6%
FRVO	Fervo Energy	1.4	-17.6%	-75.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
MYPS	PLAYSTUDIOS	0.5	683.1%	453.7%
KOD	Kodiak Sciences	5.5	159.5%	213.7%
BRZE	Braze	5.1	79.0%	33.2%
FIGS	FIGS	3.3	54.3%	75.9%
PCRX	Pacira BioSciences	1.4	47.1%	40.4%
PACB	Pacific Biosciences of California	0.7	45.6%	14.4%
RXO	RXO	4.9	45.4%	127.7%
CBRL	Cracker Barrel Old Country Store	1.5	45.1%	165.1%
HPK	HighPeak Energy	1.4	44.5%	137.6%
DXC	DXC Technology	2.5	40.9%	5.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CTVA	Corteva	8.5	-84.2%	-80.9%
GLAS	Glass House Brands	0.2	-70.9%	-73.7%
EMAT	Evolution Metals & Technologies	0.9	-61.8%	-93.3%
EOSE	Eos Energy Enterprises	0.6	-58.6%	-85.3%
SHAZ	SharonAI	0.5	-55.7%	-69.7%
NUAI	New Era Energy & Digital	0.3	-52.4%	13.3%
CIFR	Cipher Digital	3.7	-52.2%	-38.1%
FMC	FMC	0.6	-52.0%	-63.0%
XNDU	Xanadu Quantum Technologies	0.9	-50.9%	-75.3%
BRUN	Boost Run	0.5	-50.8%	-59.9%

Peer Comparisons

Peers to compare with:

Profile

	FXN	VGT	XLK	XLF	XLV	XLE	Median
Name	First Trus.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
Asset Class	Equity	Equity	Equity	Equity	Equity	Equity	-
AUM ($ Bil)	0.4	178.0	120.7	52.2	46.2	44.8	49.2
Expense Ratio	0.63%	0.09%	0.08%	0.08%	0.08%	0.08%	0.08%
10-D Avg Volume (Mil)	1.28	4.26	8.77	34.05	9.15	30.93	8.96
Latest Day Volume (Mil)	1.07	5.89	15.29	42.80	8.54	37.26	11.92
Holdings Count	40	310	75	76	61	21	68
Inception Date	5/8/2007	1/26/2004	12/16/1998	12/16/1998	12/16/1998	12/16/1998	-

Fundamentals

	FXN	VGT	XLK	XLF	XLV	XLE	Median
Name	First Trus.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
Net Asset Value	23.91	120.34	183.45	55.51	176.68	68.24	-
Premium/Discount	1.5%	1.6%	2.8%	1.0%	1.3%	-0.1%	1.4%
Distribution Yield	1.5%	0.4%	0.4%	1.5%	1.4%	2.2%	1.4%
Sales Yield	57.8%	63.3%	94.6%	29.9%	57.4%	53.7%	57.6%
Earnings Yield	6.8%	8.7%	12.4%	6.5%	2.9%	5.3%	6.6%

Valuation

	FXN	VGT	XLK	XLF	XLV	XLE	Median
Name	First Trus.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
P/S (TTM)	1.7x	1.6x	1.1x	3.3x	1.7x	1.9x	1.7x
P/E (TTM)	14.7x	11.6x	8.1x	15.5x	34.2x	18.9x	15.1x
P/FCF (TTM)	14.1x	5.6x	3.5x	33.2x	23.8x	18.3x	16.2x
Forward P/E	11.1x	4.4x	2.9x	14.3x	19.0x	13.9x	12.5x
Forward P/S	1.6x	1.2x	0.8x	3.2x	1.7x	1.7x	1.6x

Risk

	FXN	VGT	XLK	XLF	XLV	XLE	Median
Name	First Trus.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
Volatility (1Y)	23.3%	24.8%	26.5%	14.4%	16.2%	22.1%	22.7%
Volatility (3Y)	25.6%	24.7%	25.2%	16.1%	15.0%	21.8%	23.2%
Volatility (5Y)	28.4%	26.0%	26.0%	18.3%	15.3%	25.5%	25.7%
Beta (1Y)	-0.21	1.70	1.76	0.59	0.26	-0.42	0.42
Beta (3Y)	0.70	1.50	1.50	0.78	0.45	0.44	0.74
Beta (5Y)	0.78	1.42	1.40	0.85	0.54	0.57	0.82
Sharpe Ratio (1Y)	2.10	1.14	1.16	0.57	1.46	2.25	1.31
Sharpe Ratio (3Y)	0.60	1.26	1.20	1.23	0.87	0.88	1.04
Sharpe Ratio (5Y)	0.69	0.83	0.86	0.60	0.64	0.95	0.76
Max Drawdown (1Y)	-13.4%	-16.4%	-15.9%	-14.8%	-10.5%	-15.0%	-14.9%
Max Drawdown (3Y)	-31.7%	-27.2%	-25.7%	-15.5%	-17.1%	-20.1%	-22.9%
Max Drawdown (5Y)	-31.7%	-35.1%	-33.6%	-25.8%	-17.1%	-26.0%	-28.9%

Returns

	FXN	VGT	XLK	XLF	XLV	XLE	Median
Name	First Trus.	Vanguard I.	State Stre.	State Stre.	State Stre.	State Stre.
1M Return	7.7%	-3.2%	-3.9%	2.3%	5.3%	10.3%	3.8%
3M Return	10.4%	7.0%	5.7%	0.4%	10.8%	14.8%	8.7%
6M Return	14.9%	18.9%	19.4%	7.7%	22.8%	21.4%	19.2%
YTD Return	48.4%	30.2%	31.3%	3.2%	16.6%	54.6%	30.7%
1Y Return	58.6%	28.9%	31.4%	7.5%	25.2%	60.4%	30.1%
2Y Return	52.3%	64.7%	66.1%	21.2%	20.4%	59.6%	56.0%
3Y Return	43.6%	132.2%	125.4%	74.3%	42.9%	65.2%	69.7%

Short Interest

Short Interest: As Of Date	9302026
Short Interest: Shares Quantity	0.5 Mil
Short Interest: % Change Since 9152026	665.1%
Average Daily Volume	0.5 Mil
Days-to-Cover Short Interest	1

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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First Trust Energy AlphaDEX Fund (FXN)

Market Price (10/22/2026): $23.95

First Trust Energy AlphaDEX Fund (FXN)

Market Price (10/22/2026): $23.95

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Performance for FXN Top Holdings

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In The Past

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In The Past

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Current Dip Buy Opportunities Across ETFs

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Asset allocation rotation · Past week

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Asset allocation rotation · Past 3 months

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