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First Trust changes investment objectives of twelve AlphaDEX ETFs

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First Trust is changing the investment objectives of twelve of its exchange traded funds, which will ne all seek investment results that correspond generally to the price and yield – before the fees and expenses – of a new corresponding Nasdaq AlphaDEX Equity Index.

Each new index is a modified equal-dollar weighted index developed and maintained by Nasdaq that is designed to generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX selection methodology. Accordingly, each Fund’s Index Provider will change to Nasdaq. 

Until 8 April, 2016, each fund will continue to seek its current investment objective. On 8 April, 2016, each Ffnd will no longer list and trade its shares on the NYSE Arca and each Fund will instead list and trade its shares on The Nasdaq Stock Market under the same ticker symbol. Each Fund’s CUSIP number will not change in connection with the change in investment objective and listing exchange.

The funds in question and their new indexes are: 

First Trust Large Cap Core AlphaDEX® Fund (FEX) – Nasdaq AlphaDEX Large Cap Core Index
First Trust Large Cap Growth AlphaDEX® Fund (FTC) – Nasdaq AlphaDEX Large Cap Growth Index
First Trust Large Cap Value AlphaDEX® Fund (FTA) – Nasdaq AlphaDEX Large Cap Value Index
First Trust Mid Cap Core AlphaDEX® Fund (FNX) – Nasdaq AlphaDEX Mid Cap Core Index
First Trust Mid Cap Growth AlphaDEX® Fund (FNY) – Nasdaq AlphaDEX Mid Cap Growth Index
First Trust Mid Cap Value AlphaDEX® Fund (FNK) – Nasdaq AlphaDEX Mid Cap Value Index
First Trust Small Cap Core AlphaDEX® Fund (FYX) – Nasdaq AlphaDEX Small Cap Core Index
First Trust Small Cap Growth AlphaDEX® Fund (FYC) – Nasdaq AlphaDEX Small Cap Growth Index
First Trust Small Cap Value AlphaDEX® Fund (FYT) – Nasdaq AlphaDEX Small Cap Value Index
First Trust Multi Cap Growth AlphaDEX® Fund (FAD) – Nasdaq AlphaDEX Multi Cap Growth Index
First Trust Multi Cap Value AlphaDEX® Fund (FAB) – Nasdaq AlphaDEX Multi Cap Value Index
First Trust Mega Cap AlphaDEX® Fund (FMK) – Nasdaq AlphaDEX Mega Cap Index

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