First Trust Mid Cap Core AlphaDEX Fund (FNX) Valuation
FNX valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 17.0 trailing earnings
- Forward P/E
- 12.6 analyst estimates
- Price / sales
- 1.21
- Price / book
- 2.17
- EV / EBITDA
- 10.4
- Earnings yield
- 5.88% inverse of P/E
- Dividend yield
- 1.57% of the holdings
- Return on equity
- 12.8% combined
- Net margin
- 7.1% combined
- Beta
- 1.01 weighted, vs S&P 500
FNX valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FNX | 17.0 | 12.6 | 1.21 | 2.17 | 1.57% | 12.8% | 7.1% | 9.5% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
FNX valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 19.8% | 10.5 | 9.7 | 1.47 | 1.46 | 2.29% | 14.0% |
| Consumer Cyclical | 15.0% | 13.5 | 11.6 | 0.74 | 2.36 | 1.23% | 17.5% |
| Technology | 13.5% | 28.2 | 17.0 | 1.47 | 4.45 | 0.23% | 15.8% |
| Healthcare | 13.3% | 43.8 | 17.6 | 2.50 | 5.06 | 0.08% | 11.6% |
| Industrials | 12.6% | 22.8 | 14.3 | 0.98 | 2.67 | 1.07% | 11.7% |
| Energy | 6.7% | 11.5 | 9.0 | 1.44 | 1.35 | 2.08% | 11.7% |
| Consumer Defensive | 5.0% | 18.5 | 11.5 | 0.56 | 2.40 | 2.41% | 13.0% |
| Real Estate | 4.2% | 27.3 | 19.5 | 3.15 | 1.59 | 5.97% | 5.8% |
| Basic Materials | 3.5% | 25.3 | 13.1 | 1.28 | 2.19 | 1.46% | 8.6% |
| Utilities | 3.1% | 18.3 | 14.0 | 2.05 | 1.50 | 3.70% | 8.2% |
| Communication Services | 2.1% | 14.9 | 10.9 | 1.33 | 1.25 | 2.33% | 8.4% |
FNX earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How FNX weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FNX largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| G | Genpact Limited | 0.46% | 11.1 | 18.3 | 1.2 | 2.01% | 0.72% |
| EPAM | EPAM Systems, Inc. | 0.46% | 16.6 | 8.3 | 1.1 | — | 0.48% |
| AR | Antero Resources Corporation | 0.44% | 11.1 | 9.0 | 2.1 | — | 0.69% |
| RRC | Range Resources Corporation | 0.43% | 11.9 | 10.0 | 3.1 | 0.93% | 0.63% |
| CON | Concentra Group Holdings Parent, Inc. | 0.43% | 24.9 | 18.0 | 2.1 | 0.65% | 0.30% |
| LYFT | Lyft, Inc. | 0.43% | 2.5 | 9.3 | 0.9 | — | 2.98% |
| ADT | ADT Inc. | 0.42% | 9.4 | 6.3 | 1.0 | 3.20% | 0.79% |
| APA | APA Corporation | 0.42% | 10.4 | 9.4 | 2.0 | 2.03% | 0.71% |
| PACS | PACS Group, Inc. | 0.42% | 27.4 | 15.5 | 1.3 | — | 0.27% |
| CNX | CNX Resources Corporation | 0.42% | 5.8 | 8.4 | 2.5 | — | 1.25% |
| MUR | Murphy Oil Corporation | 0.42% | 20.7 | 13.4 | 2.0 | 3.35% | 0.35% |
| URBN | Urban Outfitters, Inc. | 0.42% | 13.5 | 11.9 | 1.1 | — | 0.53% |
| AMTM | Amentum Holdings Inc. | 0.41% | 23.5 | 7.5 | 0.3 | — | 0.31% |
| CHYM | Chime Financial, Inc. | 0.41% | 33.7 | 20.6 | 4.6 | — | 0.21% |
| WTM | White Mountains Insurance Group, Ltd. | 0.41% | 4.9 | 13.9 | 1.7 | 0.05% | 1.44% |
| TRU | TransUnion | 0.41% | 19.5 | 12.8 | 2.9 | 0.67% | 0.36% |
| COKE | Coca-Cola Consolidated, Inc. | 0.40% | 27.9 | 17.4 | 1.8 | 0.48% | 0.25% |
| ESNT | Essent Group Ltd. | 0.40% | 9.0 | 8.2 | 4.4 | 2.16% | 0.78% |
| SWX | Southwest Gas Holdings, Inc. | 0.40% | 21.9 | 17.4 | 3.6 | 2.95% | 0.32% |
| RDN | Radian Group Inc. | 0.40% | 8.4 | 6.3 | 2.7 | 3.00% | 0.84% |
| OZK | Bank OZK | 0.40% | 7.6 | 7.6 | 3.2 | 4.25% | 0.90% |
| OSCR | Oscar Health, Inc. | 0.40% | 24.7 | 588.2 | 0.6 | — | 0.28% |
| MCY | Mercury General Corporation | 0.40% | 6.1 | 19.8 | 0.9 | 1.24% | 1.13% |
| DBX | Dropbox, Inc. | 0.40% | 19.7 | 10.8 | 3.1 | — | 0.35% |
| BYD | Boyd Gaming Corporation | 0.39% | 3.1 | 8.4 | 1.2 | 1.14% | 2.25% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About FNX valuation
Adding up its 443 holdings with company data, FNX trades at 17.0 times trailing earnings and 12.6 times analysts' forward estimates, with a price-to-book ratio of 2.17 and a dividend yield of 1.57%. Its earnings yield of 5.88% is 0.55 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 4.3% of the fund and earn 8.8% of its combined profit. By sector, Healthcare is the most expensive at 43.8 times earnings and Financial Services the cheapest at 10.5. Companies that lost money over the past year are 9.5% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 98.4% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FNX chart, FNX performance, FNX holdings, FNX dividends.
FNX valuation FAQ
What is the P/E ratio of FNX?
Based on its holdings, FNX has a trailing P/E of 17.0 and a forward P/E of 12.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FNX?
The trailing earnings yield is 5.88% (1 ÷ P/E) and the forward earnings yield 7.96%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FNX more expensive than the S&P 500?
FNX trades at 17.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 12.6 and 19.9.
What is the price-to-book ratio of FNX?
The holdings of FNX trade at 2.17 times book value, with a combined return on equity of 12.8%.
Which sector in FNX has the highest P/E?
Healthcare has the highest P/E at 43.8 and Financial Services the lowest at 10.5.