FAB ETF — First Trust Multi Cap Value AlphaDEX Fund

First Trust Multi Cap Value AlphaDEX Fund (FAB)

Updated October 16, 2026.

FAB is an ETF linked to U.S. Multi-Cap Value Equities. its distribution rate is 2.09%, its trailing-12-month yield is 1.71%, its expense ratio is 0.66%. Dividend Vision Distribution Safety Score™ is 90/100 (Safe). Total return is 369.5% over the past 19.4 years, 252.9 points behind SPY at 622.4%.

First Trust Multi Cap Value AlphaDEX Fund is an ETF that tracks a U.S. multi-cap value equity index constructed using the AlphaDEX fundamental screening methodology to select stocks expected to generate positive risk-adjusted returns across large-, mid-, and small-cap segments. The fund carries a modest current distribution rate with quarterly distributions and an expense ratio of 0.66%. It appeals to income-focused equity investors seeking value exposure across multiple market capitalizations with a systematic, fundamentally-driven selection approach.

FAB performance versus SPY

Price and return data through 2026-10-16.

Total return is 369.5% over the past 19.4 years, 252.9 points behind SPY at 622.4%. Over the past year its total return — price change plus distributions reinvested — is 23.7%. Its deepest 1-year drawdown was 8.2%.

FAB key facts

Distribution Safety Score™

90 · Safe

Safety-Adjusted Yield

1.88%

Issuer

First Trust

Asset type

ETF

Asset class

Equity

Inception date

05/08/2007

Expense ratio

0.66%

Distribution rate

2.09%

Distribution frequency

Quarterly

Trailing yield

1.71%

Last close

$103.18 (as of 2026-10-16)

AUM

$155,600,105

Average volume

1272.0

Dividend

$0.5387

Ex-dividend date

09/24/2026

Payment date

09/30/2026

Beta

0.75

How Dividend Vision calculates yield and returns

Distribution rate (2.09%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (1.71%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: First Trust or company page; Index: U.S. Multi-Cap Value Equities; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

FAB risks and drawbacks

FAB's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 8.2%.

Who may consider FAB — and who may not

FAB may suit someone looking for a high Distribution Safety Score, moderate current income with a quality tilt. It is a weaker fit for investors who need monthly cash flow (FAB pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on FAB

• All tickers starting with F

Tagged: Index.

Frequently asked questions

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