First Trust Large Cap Growth AlphaDEX Fund (FTC)

On our desk, evaluating FTC requires looking past the standard large-growth index templates. Because the AlphaDEX methodology tilts heavily toward sectors like Industrials at roughly 26.6% alongside Technology near 32%, the fund avoids the extreme mega-cap single-stock concentration weighing down many peers. However, with portfolio P/E multiples sitting elevated compared to category averages, sentiment on the street remains divided on whether its quantitative screen can continually justify the premium valuation in a shifting Fed rate cut environment.

From a quantitative screening perspective, analyzing FTC means dissecting its underlying NASDAQ US 500 Large Cap Index base. The portfolio holds roughly 187 to 189 positions—such as Incyte, Dell, and various industrial names—spread evenly enough that top holdings represent less than 10% of total assets. When conducting factor attribution analysis or preparing positioning reports for clients, analysts must account for this granular multi-factor construction rather than treating it like a pure-play tech ETF.

Watching the technical posture of FTC around its moving averages shows a fairly resilient asset. Trading near $157 to $182 depending on seasonal snapshots, it holds a neutral technical stance right near its MA200 and slightly above its MA20, while monthly RSI values near 62 signal a constructive medium-term trend without screaming overbought. Risk managers on our team note that while AUM remains stable around $1.3 billion, external research providers like Zacks and Morningstar maintain a cautious neutrality regarding its structural alpha generation.