What this ETF is trying to do

The First Trust China Alphadex Fund (FCA) is an exchange-traded fund (ETF) listed on the NASDAQ. This report looks at its recent price movements and cash payments based on data from October 2026.

What the numbers show

As of October 9, 2026, the current price of FCA is $25.75. An estimated price from roughly one year ago was $29.10.

When looking at how an ETF performs, it is important to know the difference between "price return" and "total return." Price return only tracks the change in the share price. Total return includes both the share price change and any cash distributions paid to investors.

• Year-to-Date (YTD): The price return is -8.93%, while the total return is -4.47%.

• One Year: The price return was -11.53%, while the total return was -6.77%.

• Three Years: The performance was much higher over a longer period, with a price return of 37.98% and a total return of 57.53%.

To visualize the one-year price change: if you had invested $10,000 in this ETF roughly one year ago at the estimated price of $29.10, your share value would be approximately $8,847.50 today based on the -11.53% price return.

Income and distribution explanation

This ETF has a distribution yield of 5.53%. This number describes the cash distributions relative to the ETF's price. However, a high yield does not mean an investor earned that percentage as their total return.

In the last 12 months, the fund made three distributions. The frequency is described as "irregular" or "less frequent." It is important to remember that receiving cash distributions does not guarantee that your original investment will stay at the same value.

NAV erosion explanation

The fund has an erosion-risk score of 75, which is labeled as "mild price erosion."

"NAV erosion" refers to a decline in the Net Asset Value, which is the actual value of the assets held within the ETF. While a falling market price does not always mean the NAV has declined, the StockValueFinder erosion-risk score is used to measure this risk. In this case, the risk is considered mild.

Pros

• Strong long-term performance: The three-year total return was 57.53%.

• Cash income: The fund offers a distribution yield of 5.53%.

Cons

• Recent price declines: Both the year-to-date and one-year price returns are negative.

• Irregular payments: Distributions are not made on a steady, frequent schedule.

• Erosion risk: There is a measurement of mild price erosion.

Beginner takeaway

When looking at FCA, remember that share prices can go up or down. While the fund has shown strong returns over three years, it has faced price declines over the last year. Also, keep in mind that while the distribution yield provides cash, it is separate from the total return of your investment.