| The First Trust Brazil AlphaDEX Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before the Funds fees and expenses, of an equity index called the NASDAQ AlphaDEX Brazil Index. The NASDAQ AlphaDEX Brazil Index is an "enhanced" index created and administered by The NASDAQ OMX Group, Inc. ("NASDAQ") which employs the AlphaDEX stock selection methodology to select stocks from the NASDAQ Brazil Index that meet certain criteria. NASDAQ constructs the NASDAQ AlphaDEX Brazil Index by ranking the eligible stocks from the NASDAQ Brazil Index on growth factors including 3-, 6- and 12- month price appreciation, sales to price and one year sales growth, and separately on value factors including book value to price, cash flow to price and return on assets. All stocks are ranked on the sum of ranks for the growth factors and, separately, all stocks are ranked on the sum of ranks for the value factors. A stock must have data for all growth and/or value factors to receive a rank for that style. |