At a glance
FTA charges 0.58% a year, above the 0.31% average of the 8 funds most like it (the 7th cheapest of 9). It has $1.40B in assets, the 5th largest of that group; it paid 1.72% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +23.5% with distributions reinvested (S&P 500: +11.5%), 4th of those 9 funds; over three years it returned +20.6% a year. At its worst it fell 44.0% in the 2020 crash (S&P 500: 33.7%) and 19.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 4 months after the lows. Its ten largest positions make up 10.4% of the fund, out of 188 in all.
The short version
First Trust Large Cap Value AlphaDEX Fund (FTA) is an ETF that tracks the Nasdaq AlphaDEX Large Cap Value Index. The index uses rules to pick 187 large US value stocks and gives the highest-scoring ones more weight. Its weights don't follow company size, so no holding was above about 1.2% as of July 31, 2026. Its 0.58% expense ratio is well above the 0.31% average of similar funds.
Price history
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FTA +23.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| FTA official prospectus, to Dec 31, 2024 | — | +10.13% | — | +8.45% | +7.87% | +7.43% |
| FTA price data to Oct 27, 2026 | +19.8% | +23.5% | +20.6% | +11.0% | +11.3% | +8.5% |
- Over the year to Oct 27, 2026, FTA returned +23.5%, 4th of 9 among similar funds.
- Its 5-year annualized return was +11.0% and its 10-year +11.3%.
- In the 2020 COVID crash it fell 44% and regained its old high 8.1 months after the low.
- Its worst full calendar year was 2008 (-35.8%); its best was 2009 (+40.5%).
- The deepest fall in its price history was 62.4% (Jul 16, 2007 to Mar 6, 2009), recovered by Apr 5, 2011.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +19.8% | — |
| 2025 | +14.9% | — |
| 2024 | +10.1% | +10.13% |
| 2023 | +10.1% | +10.14% |
| 2022 | -3.8% | -3.76% |
| 2021 | +29.3% | +29.21% |
| 2020 | -0.4% | -0.56% |
| 2019 | +24.7% | +24.87% |
| 2018 | -13.6% | -13.57% |
| 2017 | +18.5% | +18.45% |
| 2016 | +24.0% | +23.92% |
| 2015 | -10.3% | -10.27% |
| 2014 | +10.7% | — |
| 2013 | +34.2% | — |
| 2012 | +18.2% | — |
| 2011 | +1.4% | — |
| 2010 | +18.7% | — |
| 2009 | +40.5% | — |
| 2008 | -35.8% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 60.1% over that stretch · deepest drop along the way 60.6%, back to its old high 22.7 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 43.9% over that stretch · deepest drop along the way 44%, back to its old high 8.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 15.4% over that stretch · deepest drop along the way 19.8%, back to its old high 4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.2300 | |
| 2025 | $1.6300 | +5.8% |
| 2024 | $1.5400 | +3.4% |
| 2023 | $1.4900 | +5.7% |
| 2022 | $1.4100 | +31.8% |
| 2021 | $1.0700 | -3.6% |
| 2020 | $1.1100 | +4.7% |
| 2019 | $1.0600 | 0.0% |
| 2018 | $1.0600 | +27.7% |
| 2017 | $0.8300 | +13.7% |
| 2016 | $0.7300 | -7.6% |
| 2015 | $0.7900 | +1.3% |
| 2014 | $0.7800 | +27.9% |
| 2013 | $0.6100 | -19.7% |
| 2012 | $0.7600 | +100.0% |
| 2011 | $0.3800 | +11.8% |
| 2010 | $0.3400 | -2.9% |
| 2009 | $0.3500 | -25.5% |
| 2008 | $0.4700 |
What's inside
As of Jul 31, 2026, the fund held 188 securities; the ten largest made up 10.42% of assets.
| Holding | Weight | |
|---|---|---|
| COGNIZANT TECHNOLOGY SOLUTIONS CORP | 1.23% | |
| ACCENTURE PLC | 1.15% | |
| PAYPAL HOLDINGS INC | 1.14% | |
| CONOCOPHILLIPS | 1.00% | |
| GLOBAL PAYMENTS INC | 1.00% | |
| GENERAL MOTORS COMPANY | 0.99% | |
| FIDELITY NATIONAL INFORMATION SERVICES INC | 0.99% | |
| EOG RESOURCES INC | 0.99% | |
| TRAVELERS COMPANIES INC (THE) | 0.98% | |
| AT&T INC | 0.97% | |
| ALLSTATE CORP (THE) | 0.95% | |
| VERIZON COMMUNICATIONS INC | 0.95% | |
| FISERV INC | 0.95% | |
| ZIMMER BIOMET HOLDINGS INC | 0.94% | |
| HARTFORD INSURANCE GROUP INC (THE) | 0.92% |
By country
United States 92.9%Ireland 2.98%Jersey 1.35%Switzerland 1.05%Bermuda 0.89%By asset type
Stocks 99.84%RA 0%By sector
Sectors of the companies held, for the 68.4% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $22.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.12%, +1.90%, +4.27%.
How it works
FTA is an index fund. It normally puts at least 90% of its net assets in the stocks of the Nasdaq AlphaDEX Large Cap Value Index, which Nasdaq owns and maintains. The index starts with the Nasdaq US 500 Large Cap Value Index. It drops duplicate share classes and stocks that trade too thinly. Then it ranks the remaining stocks on growth and value factors. Each stock is labeled value or growth and is scored on the matching rank. The top 187 scorers make the cut.
Those 187 stocks are split into five equal-sized groups (quintiles) by score, and higher-scoring groups get more weight. Weight comes from score, not company size. That is why the largest holdings as of July 31, 2026 were Cognizant (1.23%), Accenture (1.15%) and PayPal (1.14%), and the top ten made up only 10.42% of the fund.
The index is rebuilt and rebalanced every quarter, and the fund trades shortly afterward. Portfolio turnover was 75% in its latest fiscal year. Trading costs from that turnover come out of fund returns and are not part of the expense ratio. The fund can end up concentrated in whatever industries the index favors. As of July 31, 2026 it held 188 stocks, 92.9% of them in US companies, with 0.11% in cash and no derivatives.
What it really costs
- FTA charges 0.58% a year, versus an average of 0.31% for the similar funds below (7th of 9, cheapest first).
- Of that, 0.5% is the management fee; the rest covers other fund expenses.
In a retirement portfolio
FTA spreads money across about 188 large value stocks by score rather than size, which can offset a portfolio dominated by the biggest market-cap names.
FTA could add a value tilt beside a broad index fund. Among holdings with sector data as of July 31, 2026, it leaned toward financials (17.7%), energy (11.1%) and utilities (8.9%). Its downturns have been deep. It fell 60.6% in the 2008 financial crisis and lost 35.8% in calendar 2008. Its deepest drop, 62.4%, did not fully recover until April 2011. It fell 44% in the 2020 COVID crash and 19.8% in 2022, and recovered in about 8 and 4 months. Selling near lows like those locks in losses, which is why many retirees keep cash or bonds to draw on in bad years. FTA paid a trailing 12-month yield of 1.72%, in quarterly payments, as of October 27, 2026. It costs 0.58% a year. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who already own a broad index fund and want more weight in financials, energy and utilities than in the largest technology companies.
- Those who prefer weights set by a quarterly, rules-based score over market-cap weighting, with no stock above about 1.2% as of July 31, 2026.
- Long-term holders who can ride out steep stock drops, like its 44% fall in early 2020, without having to sell.
Look elsewhere if
- Cost-focused investors: FTA's 0.58% expense ratio compares with 0.22% for Dimensional US Large Cap Value ETF (DFLV) and a 0.31% peer average.
- Those seeking meaningful income: the trailing yield was 1.72% as of October 27, 2026, paid quarterly.
- Anyone who can't stomach deep losses: FTA fell 62.4% from July 2007 to March 2009 and didn't fully recover until April 2011.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| FTA this fund | — | 0.58% | $1.40B | +23.5% | +20.6% |
| FEX First Trust Large Cap Core AlphaDEX Fund | 58% | 0.58% | $1.57B | +17.4% | +22.9% |
| FAB First Trust Multi Cap Value AlphaDEX Fund | 50% | 0.64% | $168.5M | +22.2% | +19.1% |
| IMCV iShares Morningstar Mid-Cap Value ETF | 49% | 0.06% | $1.14B | +23.6% | +22.2% |
| VOE Vanguard Mid-Cap Value ETF | 44% | 0.07% | $37.23B | +25.1% | +21.7% |
| DFLV Dimensional US Large Cap Value ETF | 40% | 0.22% | $6.77B | +27.5% | +23.4% |
| CFA VictoryShares US 500 Volatility Wtd ETF | 36% | 0.35% | $533.5M | +11.2% | +17.3% |
| CFO VictoryShares US 500 Enhanced Volatility Wt… | 36% | 0.37% | $412.4M | +11.2% | +14.9% |
Questions investors ask
What does FTA invest in?
FTA invests in large US value stocks chosen by the Nasdaq AlphaDEX Large Cap Value Index. As of July 31, 2026 it held 188 stocks and about $1.4 billion in net assets. The largest positions were Cognizant, Accenture, PayPal, ConocoPhillips, Global Payments and General Motors, each near 1% of the fund. Among holdings with sector data, financials, energy and utilities were the biggest groups.
What is FTA's expense ratio?
FTA's expense ratio is 0.58% a year, according to its prospectus filed November 28, 2025. That includes a 0.50% management fee, with no fee waiver. Similar funds average 0.31%, and FTA ranks 7th of 9 on cost in its comparison group. Dimensional US Large Cap Value ETF (DFLV) charges 0.22%. Mid-cap value funds with overlapping holdings, such as VOE and IMCV, charge 0.07% and 0.06%.
Does FTA pay dividends?
Yes. FTA pays dividends quarterly. Over the 12 months to October 27, 2026 it paid $1.75 per share, a trailing yield of 1.72%. The income comes from the dividends of the roughly 188 stocks it holds, minus fund expenses, so payments can vary from quarter to quarter. Investors looking mainly for income may find that yield modest next to dividend-focused funds.
What's the difference between FTA and FEX?
Both are First Trust AlphaDEX ETFs charging 0.58%, and they share about 58% of their holdings. FTA picks from large-cap value stocks. FEX, the Large Cap Core AlphaDEX Fund, uses a broader large-cap core universe that mixes value and growth. As of October 27, 2026, FTA returned 23.5% over one year versus 17.4% for FEX. Over three years FEX led, at 22.9% a year versus 20.6%.
How has FTA performed over the long term?
FTA's results have been solid but uneven. Its prospectus reports average annual returns of 8.45% over five years and 7.87% over ten years as of December 31, 2024, and 7.43% since its 2007 launch. It lost money in 2015 (-10.27%) and 2018 (-13.57%). Its worst quarter was a 34.34% drop in early 2020. Based on price, its ten-year annualized return was 11.3% as of October 27, 2026.