0001445546-22-007489.txt : 20221101 0001445546-22-007489.hdr.sgml : 20221101 20221031174628 ACCESSION NUMBER: 0001445546-22-007489 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20221101 DATE AS OF CHANGE: 20221031 EFFECTIVENESS DATE: 20221101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST TRUST EXCHANGE-TRADED ALPHADEX FUND CENTRAL INDEX KEY: 0001383496 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FILING VALUES: FORM TYPE: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 333-140895 FILM NUMBER: 221347544 BUSINESS ADDRESS: STREET 1: 120 EAST LIBERTY DRIVE, SUITE 400 CITY: WHEATON STATE: IL ZIP: 60187 BUSINESS PHONE: 630-765-8000 MAIL ADDRESS: STREET 1: 120 EAST LIBERTY DRIVE, SUITE 400 CITY: WHEATON STATE: IL ZIP: 60187 0001383496 S000017698 First Trust Energy AlphaDEX Fund C000048898 First Trust Energy AlphaDEX Fund FXN 497K 1 fxn_497k.htm SUPPLEMENT TO SUMMARY PROSPECTUS EDGAR HTML

Rule 497(k)
File No. 333-140895

 

 

First Trust Exchange-Traded AlphaDEX® Fund

(the “Trust”)

First Trust Multi Cap Value AlphaDEX® Fund

First Trust Large Cap Core AlphaDEX® Fund

First Trust Mid Cap Core AlphaDEX® Fund

First Trust Small Cap Core AlphaDEX® Fund

First Trust Large Cap Growth AlphaDEX® Fund

First Trust Large Cap Value AlphaDEX® Fund

First Trust Multi Cap Growth AlphaDEX® Fund

First Trust Financials AlphaDEX® Fund

First Trust Energy AlphaDEX® Fund

First Trust Consumer Staples AlphaDEX® Fund

First Trust Health Care AlphaDEX® Fund

First Trust Utilities AlphaDEX® Fund

First Trust Industrials/Producer Durables AlphaDEX® Fund

First Trust Materials AlphaDEX® Fund

First Trust Consumer Discretionary AlphaDEX® Fund

First Trust Technology AlphaDEX® Fund

(each, a “Fund”)

Supplement To each Fund’s Prospectus, Summary Prospectus
and Statement of Additional Information

November 1, 2022

Notwithstanding anything to the contrary in each Fund’s prospectus, summary prospectus or statement of additional information, effective November 1, 2022, as approved by the Trust’s Board of Trustees, the management fee paid to First Trust Advisors L.P. (the “Advisor”) will be reduced at certain levels of a Fund’s net assets (“breakpoints”) and calculated pursuant to the schedule below:

 

Management Fee Breakpoints
0.5000% Fund net assets up to and including $2.5 billion
0.4875% Fund net assets greater than $2.5 billion up to and including $5 billion
0.4750% Fund net assets greater than $5 billion up to and including $7.5 billion
0.4625% Fund net assets greater than $7.5 billion up to and including $10 billion
0.4500% Fund net assets greater than $10 billion up to and including $15 billion
0.4250% Fund net assets greater than $15 billion

The Advisor and the Trust, on behalf of the Funds, had previously entered into an Expense Reimbursement, Fee Waiver and Recovery Agreement (the “Agreement”) pursuant to which the Advisor has agreed to waive a portion of its management fees and/or reimburse Fund expenses to the extent that the operating expenses of a Fund exceed a certain level as described in the Fund’s prospectus. In connection with the introduction of the breakpoints discussed above, by amendment of the Agreement, the Advisor has agreed to remove its ability to recover previous expenses borne and fees waived under the Agreement.

 

Please Keep this Supplement with your Fund Prospectus, Summary Prospectus

and Statement of Additional Information for Future Reference