First Trust Germany AlphaDEX Fund (FGM) is a Europe-focused ETF. As of October 9, 2026, ETF Copilot scores FGM 2.2 out of 10 — highest on Value (3.1), lowest on Quality (0.8). It trades at 11.6 times earnings, against its own median of 10.5. Its ten largest holdings are 39% of the fund.
What stands out in FGM's data
German stocks picked by a quantitative screen, not a market-cap index.
Its companies earn less on their operations than most German peers — the screen trades profitability for something else.
EBITDA margin of 18.5% trails the 26.4% category median and sits below its own 20.6% historical average. The fund charges 0.8% a year.
A rules-based sleeve that swaps broad German exposure for a different set of names.
Why did FGM move this week? It fell 2.2% in the week to October 9, 2026 — Deutsche Telekom and Nordex SE drove it
FGM fell 2.2% in the week to October 9, 2026. The holdings that moved it most were Deutsche Telekom (−7.3%), Nordex SE (−8.0%) and Schaeffler (−5.9%); Fuchs Petrolub Se-Pref (+3.5%) pushed the other way.
How is FGM rated? ETF Copilot scores First Trust Germany AlphaDEX Fund (FGM) 2.2 out of 10
As of October 9, 2026, ETF Copilot scores First Trust Germany AlphaDEX Fund (FGM) 2.2 out of 10 overall.
ETF Copilot scores (0–10 scale, higher is better):
- Overall: 2.2 / 10
- Growth: 2.6 / 10
- Value: 3.1 / 10
- Risk: 1.7 / 10
- Quality: 0.8 / 10
- Return: 2.3 / 10
Is FGM expensive right now? It trades at 11.6 times earnings, against its own median of 10.5
As of October 9, 2026, FGM is more expensive than 67% of its own last 9 years.
Trailing 12 months, built from FGM's holdings. How we calculate this →
What's inside FGM?
What's inside FGM: Size (Large 43%, Mid 51%, Small 7%); Geography (International 100%, US 0%); Tech 3.9%; AI 1.3%; Semiconductors 3.9%; Memory 2.6%.
What are FGM's top holdings? The ten largest are 39% of the fund
Delivery Hero, Thyssenkrupp, BMW, Porsche Automobil, Aurubis, United Internet, Hochtief, Volkswagen, Vonovia SE and Fresenius Medical Care are FGM's largest holdings, in that order.
Less concentrated than 57% of Europe ETFs.
Half of FGM's weight sits in its 14 largest positions, and once those weights are taken into account it behaves like 33 equally weighted holdings.
What is FGM's expense ratio? 0.80% a year
As of October 9, 2026, FGM charges 0.80% a year, yields 1.88% and holds $87M in assets across 40 positions.
| Measure | FGM |
|---|---|
| Expense ratio | 0.80% |
| Dividend yield | 1.88% |
| Assets under management | $87M |
| Holdings | 40 |
Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.
Cite this
ETF Copilot, “First Trust Germany AlphaDEX Fund (FGM) scores and holdings analysis”, as of October 9, 2026.
https://etf-copilot.com/etf/fgm
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