FNYETF

First Trust Mid Cap Growth AlphaDEX ETF (FNY) offers exposure to mid-cap growth stocks with $546.86 million in assets. The fund has a 0.73% expense ratio, which is relatively high compared to competitors, and has returned 5.2% year-to-date and 3.41% over the past year.

It carries a Zacks ETF Rank of 3 (Hold) and is considered a medium-risk option with 226 holdings. Cheaper alternatives like Vanguard Morningstar Mid-Cap Growth ETF (VOT) and iShares Russell Mid-Cap Growth ETF (IWP) offer similar exposure with lower expense ratios.

The First Trust Mid Cap Growth AlphaDEX ETF (FNY) is reviewed as a reasonable smart beta option for mid-cap growth investors, with $574.27 million in assets and a 0.73% expense ratio. However, it underperforms cheaper alternatives like Vanguard Morningstar Mid-Cap Growth ETF (VOT) at 0.05% and iShares Russell Mid-Cap Growth ETF (IWP) at 0.23%. FNY has returned 10.52% year-to-date and 8.14% over 12 months with a beta of 1.20, making it a medium-risk choice.

U.S. PCE inflation came in softer than expected in August at 3.4% annually, easing Fed rate hike concerns and pushing markets to expect a December increase rather than October. Q2 GDP was revised upward to 2.2%, showing economic resilience. The article recommends five growth ETFs trading at lower P/E multiples than the S&P 500 as potential beneficiaries of lower interest rate expectations.