MDEV - First Trust Indxx Medical Devices ETF
The First Trust Indxx Medical Devices ETF, referred to as "the Fund," aims to achieve investment outcomes that broadly align with the price movements and income generation (yield) of the Indxx Medical Devices Index, prior to accounting for the Fund's own operating expenses. A central aspect of its investment strategy involves committing at least 80% of its total net assets—including any capital borrowed for investment—to the common stocks and depositary receipts that constitute this Index. Employing an indexing methodology, the Fund strives to directly replicate the Index's performance, before any fees or charges are deducted.
As of Oct 13, 2026: spot at $21.39, ATM IV 63.1%, net GEX $0.
- Sector
- Financial Services
- Industry
- Asset Management
- Market Cap
- $2.0M
- Beta
- 0.86
- 52-Week Range
- 17.85-21.82
- Dividend Yield
- $0.02
- IPO Date
- Jun 24, 2021
- Exchange
- CBOE
What MDEV Looks Like to Options Traders Today
IV rank of 63.8% sits near the 1-year median, where strategy choice depends on directional conviction and the event calendar rather than vol regime alone; positive net gamma exposure ($0) means dealers hedge against trend, damping realized volatility and biasing price toward heavy-OI strikes; the 25-delta skew (0.037) prices calls richer than puts, often reflecting upside speculation or squeeze risk.
What This Page Covers
The MDEV overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks. Microstructure data is available on short interest, short volume, fail-to-deliver, and market structure.
MDEV fund facts: expense ratio 0.70%, assets under management $3.1M, NAV $20.86 as of the data source's update on Oct 8, 2026, 53 holdings in its latest file, launched Jun 22, 2021, issued by First Trust. See the MDEV holdings.
Frequently asked MDEV overview questions
- What is MDEV?
- MDEV is the ticker symbol for First Trust Indxx Medical Devices ETF, an listed exchange-traded fund. The First Trust Indxx Medical Devices ETF, referred to as "the Fund," aims to achieve investment outcomes that broadly align with the price movements and income generation (yield) of the Indxx Medical Devices Index, prior to accounting for the Fund's own operating expenses. A central aspect of its investment strategy involves committing at least 80% of its total net assets—including any capital borrowed for investment—to the common stocks and depositary receipts that constitute this Index. Listed on CBOE. MDEV is the ETF ticker shown on this page; ETF traders use the fund for diversified exposure to its underlying basket, for sector and factor rotation, and for hedging or replication strategies via the listed options chain.
- What does the MDEV options snapshot look like today?
- As of Oct 13, 2026, the MDEV options snapshot shows spot at $21.39, ATM IV 63.1%, IV rank 63.8%, net GEX $0, expected move 18.09%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.
- What are MDEV's key statistics?
- First Trust Indxx Medical Devices ETF (MDEV) carries a market capitalization of $2.0M, 52-week range of 17.85-21.82. Full holdings disclosure, expense ratio, and tracking-error history live on the per-ticker fundamentals page or the sponsor's site; daily NAV and premium/discount-to-NAV are accessible from the same view. These structural inputs frame how the ETF options market prices implied volatility relative to its constituents.
- What sector or industry does MDEV belong to?
- First Trust Indxx Medical Devices ETF operates in the Financial Services sector, in the Asset Management industry. Sector classification affects how the ticker correlates with sector ETFs, how it reacts to macro factors like rate moves and commodity prices, and how its options pricing compares to sector peers. Compare MDEV's implied volatility and skew against sector benchmarks to gauge whether the options market is pricing single-name or systemic risk relative to the broader peer group.
- How current is the MDEV data on this page?
- The options snapshot above is dated Oct 13, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. Fund-level fields (sponsor, expense ratio, holdings concentration where available) refresh from the vendor feed nightly. ETF-specific filings (N-CSR, N-PX, N-CEN) update on the SEC EDGAR cadence. FINRA microstructure data refreshes on the source's cadence; for ETFs the off-exchange volume signal is dominated by authorized-participant creation and redemption rather than directional flow.