First Trust Strategic Value Index Fund (FDV)

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	Fact Sheet
	Summary Prospectus
	Monthly Performance Report

Fund Summary

Investment Objective/Strategy - The First Trust Strategic Value Index Fund is an exchange-traded index fund. The investment objective of the Fund is to replicate as closely as possible, before fees and expenses, the price and yield of the Credit Suisse U.S. Value Index, Powered by HOLT™.

There can be no assurance that the Fund's investment objectives will be achieved.

From the stocks in the HOLT database, those 300 U.S. stocks with the highest market capitalization constitute the universe of eligible companies.
The stocks in the eligible universe are then ranked according to the HOLT proprietary valuation scoring model. The HOLT valuation score is a quantitative measure which uses factors to identify companies that are attractively valued according to the HOLT discounted cash flow model.
The 50 stocks of those companies with the highest HOLT valuation score that meet liquidity and tradeability requirements are selected for inclusion in the index.
The index stocks are equally weighted initially and on each rebalancing effective date. The index is rebalanced on a quarterly basis.

Fund Overview

Ticker	FDV
Fund Type	Large Cap Value
Investment Advisor	First Trust Advisors L.P.
Investor Servicing Agent	Bank of New York
CUSIP	33733E104
Intraday NAV	FDVIV
Fiscal Year-End	12/31
Exchange	NYSE Arca
Inception	7/6/2006
Inception Price	$20.00
Inception NAV	$20.00
Gross Expense Ratio (12/31/2012)	0.83%
Net Expense Ratio	0.65%
Rebalance Frequency	Quarterly

Pursuant to contract, First Trust has agreed to waive fees and/or pay fund expenses to prevent the net expense ratio of the fund from exceeding 0.65% per year, at least until April 30, 2013.

Current Fund Data (as of 5/21/2013)

Closing NAV¹	$29.70
Closing Share Price²	$29.74
Bid/Ask Midpoint	$29.71
Bid/Ask Premium	0.00%
Total Net Assets	$37,130,172
Outstanding Shares	1,250,002
Daily Volume	5,159
Average 30-Day Daily Volume	2,915
Closing Share Price 52-Week High/Low	$29.75 / $21.32
Closing NAV 52-Week High/Low	$29.77 / $21.47
Number of Holdings	50

Fund Characteristics (as of 4/30/2013)⁷

Median Market Cap.	$27,880
Maximum Market Cap.	$428,747
Minimum Market Cap.	$11,819
Price/Earnings	11.29
Price/Book	1.58
Price/Cash Flow	6.35
Price/Sales	0.81

Top 10 Holdings (as of 5/21/2013)

Holding	Percent
Cisco Systems, Inc.	2.23%
Apache Corporation	2.14%
Parker Hannifin Corporation	2.14%
JPMorgan Chase & Co.	2.13%
Corning Incorporated	2.11%
State Street Corporation	2.11%
Morgan Stanley	2.10%
Marathon Oil Corporation	2.07%
Cummins Inc.	2.07%
Valero Energy Corporation	2.07%

Bid/Ask Midpoint and NAV History (Since Inception)

Past performance is not indicative of future results.

Volume (Since Inception)

Distribution Information

Dividend per Share Amt³	$0.0778
30-Day SEC Yield (as of 4/30/2013)⁴	1.64%
12-Month Distribution Rate (as of 4/30/2013)⁵	1.87%
Index Yield (as of 4/30/2013)⁶	2.26%

Bid/Ask Midpoint vs. NAV (as of 3/31/2013)

Number of Days Bid/Ask Midpoint Above NAV

Quarter Ended	0-49 Basis Points	50-99 Basis Points	100-199 Basis Points	>=200 Basis Points
3/31/2013	30	0	0	0
12/31/2012	40	0	0	0
9/30/2012	29	0	0	0
6/30/2012	45	0	0	0

Number of Days Bid/Ask Midpoint Below NAV

Quarter Ended	0-49 Basis Points	50-99 Basis Points	100-199 Basis Points	>=200 Basis Points
3/31/2013	29	1	0	0
12/31/2012	22	0	0	0
9/30/2012	34	0	0	0
6/30/2012	18	0	0	0

The price used to calculate market return is determined by using the midpoint between the highest bid and the lowest offer on the stock exchange, on which shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated.

Sector Breakdown (as of 5/21/2013)

Consumer Discretionary	1.95%
Energy	22.08%
Financials	20.11%
Health Care	7.89%
Industrials	12.09%
Information Technology	30.11%
Materials	3.83%
Telecommunication Services	1.94%

Month End Performance (as of 4/30/2013)

	3 Mos	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁸
Fund Performance *
NAV	3.55%	12.11%	16.09%	11.30%	5.97%	N/A	6.72%
After Tax Held	3.43%	11.98%	15.21%	10.53%	5.31%	N/A	6.16%
After Tax Sold	2.01%	6.86%	9.20%	8.47%	4.36%	N/A	5.06%
Market Price	3.42%	12.12%	16.10%	11.29%	5.99%	N/A	6.71%

Index Performance **
Credit Suisse U.S. Value Index, Powered by HOLT™	3.73%	12.39%	16.94%	N/A	N/A	N/A	N/A
S&P 500 Value Index	7.02%	13.97%	20.33%	12.08%	3.68%	N/A	3.96%
S&P 500® Index	7.18%	12.74%	16.89%	12.80%	5.21%	N/A	5.61%

Quarter End Performance (as of 3/28/2013)

	3 Mos	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁸
Fund Performance *
NAV	11.64%	11.64%	12.11%	11.26%	6.68%	N/A	6.73%
After Tax Held	11.50%	11.50%	11.26%	10.49%	6.01%	N/A	6.17%
After Tax Sold	6.59%	6.59%	6.95%	8.44%	4.92%	N/A	5.07%
Market Price	11.64%	11.64%	12.07%	11.25%	6.68%	N/A	6.73%

Index Performance **
Credit Suisse U.S. Value Index, Powered by HOLT™	11.85%	11.85%	12.92%	N/A	N/A	N/A	N/A
S&P 500 Value Index	11.97%	11.97%	16.64%	12.12%	4.07%	N/A	3.74%
S&P 500® Index	10.61%	10.61%	13.96%	12.67%	5.81%	N/A	5.38%

3-Year Statistics (as of 4/30/2013)

	Standard Deviation	Alpha	Beta	Sharpe Ratio	Correlation
First Trust Strategic Value Index Fund	19.22%	-3.47	1.22	0.62	0.96
S&P 500 Value Index	15.95%	-1.14	1.05	0.76	0.99
S&P 500® Index	15.01%	---	---	0.84	---

Standard Deviation is a measure of price variability (risk). Alpha is an indication of how much an investment outperforms or underperforms on a risk-adjusted basis relative to its benchmark.Beta is a measure of price variability relative to the market. Sharpe Ratio is a measure of excess reward per unit of volatility. Correlation is a measure of the similarity of performance.

*Performance data quoted represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate and shares when sold or redeemed, may be worth more or less than their original cost. You can obtain performance information which is current through the most recent month-end by visiting ftportfolios.com.

Following the close of trading on June 18, 2010, the fund's underlying index changed from the Deutsche Bank CROCI® US+ IndexTM to the Credit Suisse U.S. Value Index, Powered by HOLT^TM. Therefore, the fund's performance and historical returns shown for the periods prior to this date are not necessarily indicative of the performance that the fund, based on its current index, would have generated.

After Tax Held returns represent return after taxes on distributions. Assumes shares have not been sold. After Tax Sold returns represent the return after taxes on distributions and the sale of fund shares. Returns do not represent the returns you would receive if you traded shares at other times. Market Price returns are based on the midpoint of the bid/ask spread. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. The fund's performance reflects fee waivers and expense reimbursements, absent which performance would have been lower.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

**Past performance is not a guarantee of future results. Performance information for the Credit Suisse U.S. Value Index, Powered by HOLT™ is for illustrative purposes only and does not represent actual fund performance. No representation is being made that any investment will achieve performance similar to that shown. The Index does not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the performance shown. Indexes are unmanaged and an investor cannot invest directly in an index. All index returns assume that dividends are reinvested when they are received.

The gross expense ratio for this fund is 0.83%. Pursuant to contract, First Trust has agreed to waive fees and/or pay fund expenses to prevent the net expense ratio of the fund from exceeding 0.65% per year, at least until April 30, 2013.

The S&P 500 Index is an unmanaged index of 500 stocks used to measure large-cap U.S. stock market performance.

The S&P 500 Value Index contains those securities with value characteristics from the S&P 500 Index.

Footnotes

¹	The NAV represents the fund's net assets (assets less liabilities) divided by the fund's shares outstanding.
²	Fund shares are purchased and sold on an exchange at their share price rather than net asset value (NAV), which may cause the shares to trade at a price greater than NAV (premium) or less than NAV (discount).
³	Most recent distribution paid or declared through today's date. Subject to change in the future.
⁴	30-day SEC yield is calculated by dividing the net investment income per share earned during the most recent 30-day period by the maximum offering price per share on the last day of the period.
⁵	12-Month Distribution Rate is calculated by dividing the sum of the fund's trailing 12-month ordinary distributions paid or declared by the NAV price. Distribution Rates May Vary.
⁶	Index yield represents the weighted average trailing 12-month dividend of the constituents of the Credit Suisse U.S. Value Index, Powered by HOLT(TM)
⁷	All market capitalization numbers are in USD$ Millions.
⁸	Inception Date is 7/6/2006

You should consider the fund's investment objectives, risks, and charges and expenses carefully before investing. You can download a prospectus or summary prospectus, or contact First Trust Portfolios L.P. at 1-800-621-1675 to request a prospectus or summary prospectus which contains this and other information about the fund. The prospectus or summary prospectus should be read carefully before investing.

ETF Characteristics

The fund lists and principally trades its shares on the NYSE Arca, Inc.

The fund's return may not match the return of the Credit Suisse U.S. Value Index, Powered by HOLT™. The fund may not be fully invested at times. Securities held by the fund will generally not be bought or sold in response to market fluctuations.

Investors buying or selling fund shares on the secondary market may incur customary brokerage commissions. Market prices may differ to some degree from the net asset value of the shares. Investors who sell fund shares may receive less than the share's net asset value. Shares may be sold throughout the day on the exchange through any brokerage account. However, unlike mutual funds, shares may only be redeemed directly from the fund by authorized participants, in very large creation/redemption units.

Risk Considerations

The fund's shares will change in value, and you could lose money by investing in the fund. One of the principal risks of investing in the fund is market risk. Market risk is the risk that a particular stock owned by the fund, fund shares or stocks in general may fall in value.

The fund may invest in securities issued by companies concentrated in a particular industry.

The fund is classified as "non-diversified." A non-diversified fund generally may invest a larger percentage of its assets in the securities of a smaller number of issuers. As a result, the fund may be more susceptible to the risks associated with these particular companies, or to a single economic, political or regulatory occurrence affecting these companies.

Credit Suisse Group AG, Credit Suisse Securities (USA) LLC, CSFB HOLT, LLC, their affiliates, and Standard & Poor's Financial Services LLC, a subsidiary of The McGraw-Hill Companies have not published or approved this document and accept no responsibility for its contents or use.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value