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Target VIP, May 2012  Ticker: FLDEAX
 
Description
This unit investment trust seeks above-average total return; however, there is no assurance the objective will be met. The portfolio provides you with the convenience of owning six distinct strategies in one investment. It invests in a fixed portfolio of stocks which are selected by applying pre-determined screens and factors.
 
Summary
Product Code: VPMY12
Portfolio Status: Secondary
Initial Offer Date: 05/01/2012
Secondary Date: 06/01/2012
Portfolio Ending Date: 08/09/2013
Tax Structure: RIC
Distributions: Semi-Annual
 
Initial Offer Price: $10.0000
NAV(*): $10.6450
POP(*): $10.9123
* As of Trade Date: 06/19/2013 4:00pm ET

 Estimated Net Annual Distribution Per Unit
Estimated Net Annual Distribution Per Unit * $0.2040
As of 06/17/2013
* There is no guarantee that the issuers of the securities included in the portfolio will declare distributions in the future or that, if declared, they will either remain at current levels or increase over time.

 Holdings Analysis Click here to Perform a Benchmark Comparison  
 Sector Weighting
Consumer Discretionary  Consumer Discretionary 24.18%
Consumer Staples  Consumer Staples 3.51%
Energy  Energy 7.83%
Financials  Financials 6.46%
Health Care  Health Care 11.42%
Industrials  Industrials 4.38%
Information Technology  Information Technology 26.38%
Materials  Materials 1.83%
Telecommunication Services  Telecommunication Services 7.42%
Utilities  Utilities 6.41%
Other  Other 0.18%
 
  Large Mid Small  
Growth  39.28% 2.22% 17.06%  
Value  38.09% 1.87% 1.30%  

 Style Weighting
Large-Cap Growth 39.28%
Large-Cap Value 38.09%
Mid-Cap Growth 2.22%
Mid-Cap Value 1.87%
Small-Cap Growth 17.06%
Small-Cap Value 1.30%
Undetermined 0.18%
 Composition
U.S. Stocks 78.71%   Other 0.18%
Non-U.S. Stocks 21.11%      
The style and sector characteristics of the portfolio are determined as of 06/18/2013 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolSectorStyleWeighting
 Apple Inc. AAPL Information Technology  Information Technology Large-Cap Value 5.34%
 International Business Machines Corporation IBM Information Technology  Information Technology Large-Cap Growth 4.77%
 The Home Depot, Inc. HD Consumer Discretionary  Consumer Discretionary Large-Cap Growth 4.45%
 Microsoft Corporation MSFT Information Technology  Information Technology Large-Cap Growth 4.09%
 Comcast Corporation (Class A) CMCSA Consumer Discretionary  Consumer Discretionary Large-Cap Value 3.98%
 Merck & Co., Inc. MRK Health Care  Health Care Large-Cap Value 3.71%
 Intel Corporation INTC Information Technology  Information Technology Large-Cap Value 3.36%
 Exxon Mobil Corporation XOM Energy  Energy Large-Cap Value 3.19%
 McDonald’s Corporation MCD Consumer Discretionary  Consumer Discretionary Large-Cap Growth 3.05%
 Gilead Sciences, Inc. GILD Health Care  Health Care Large-Cap Growth 2.60%
 BT Group PLC (ADR) BT Telecommunication Services  Telecommunication Services Large-Cap Growth 1.85%
 Colgate–Palmolive Company CL Consumer Staples  Consumer Staples Large-Cap Growth 1.65%
 Time Warner Cable, Inc. TWC Consumer Discretionary  Consumer Discretionary Large-Cap Growth 1.52%
 Schlumberger Limited SLB Energy  Energy Large-Cap Value 1.46%
 Lockheed Martin Corporation LMT Industrials  Industrials Large-Cap Growth 1.35%
 Seagate Technology STX Information Technology  Information Technology Large-Cap Growth 1.31%
 eBay Inc. EBAY Information Technology  Information Technology Large-Cap Growth 1.27%
 Amgen Inc. AMGN Health Care  Health Care Large-Cap Growth 1.10%
 AXA S.A. CS.FP Financials  Financials Large-Cap Value 1.09%
 American Tower Corporation AMT Financials  Financials Large-Cap Growth 1.05%
 Starbucks Corporation SBUX Consumer Discretionary  Consumer Discretionary Large-Cap Growth 1.01%
 Macy's, Inc. M Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.96%
 Repsol YPF, S.A. REP.SM Energy  Energy Large-Cap Value 0.91%
 Public Storage PSA Financials  Financials Large-Cap Growth 0.90%
 Swisscom AG SCMN.VX Telecommunication Services  Telecommunication Services Large-Cap Growth 0.90%
 Discover Financial Services DFS Financials  Financials Large-Cap Value 0.87%
 AstraZeneca Plc AZN.LN Health Care  Health Care Large-Cap Value 0.86%
 GlaxoSmithKline Plc GSK.LN Health Care  Health Care Large-Cap Growth 0.85%
 EDF SA (Electricite de France) EDF.FP Utilities  Utilities Large-Cap Value 0.85%
 SSE Plc SSE.LN Utilities  Utilities Large-Cap Value 0.83%
 Vivendi S.A. VIV.FP Telecommunication Services  Telecommunication Services Large-Cap Value 0.83%
 Total S.A. FP.FP Energy  Energy Large-Cap Value 0.82%
 Enel SpA ENEL.IM Utilities  Utilities Large-Cap Value 0.82%
 National Grid Plc NG/.LN Utilities  Utilities Large-Cap Value 0.82%
 Tyler Technologies, Inc. TYL Information Technology  Information Technology Small-Cap Growth 0.80%
 TeliaSonera AB TLSN.SS Telecommunication Services  Telecommunication Services Large-Cap Value 0.79%
 Vodafone Group Plc VOD.LN Telecommunication Services  Telecommunication Services Large-Cap Value 0.78%
 Deutsche Telekom AG DTE.GY Telecommunication Services  Telecommunication Services Large-Cap Value 0.78%
 Allegiant Travel Company ALGT Industrials  Industrials Small-Cap Growth 0.78%
 AutoZone, Inc. AZO Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.75%
 priceline.com Incorporated PCLN Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.74%
 Celgene Corporation CELG Health Care  Health Care Large-Cap Growth 0.74%
 Eni SpA ENI.IM Energy  Energy Large-Cap Value 0.73%
 Fortum Oyj FUM1V.FH Utilities  Utilities Large-Cap Value 0.69%
 McGraw Hill Financial Inc. MHFI Financials  Financials Large-Cap Growth 0.68%
 MarketAxess Holdings, Inc. MKTX Financials  Financials Small-Cap Growth 0.68%
 GDF Suez GSZ.FP Utilities  Utilities Large-Cap Value 0.67%
 The Medicines Co. MDCO Health Care  Health Care Small-Cap Growth 0.67%
 CA Inc. CA Information Technology  Information Technology Large-Cap Value 0.66%
 Dollar Tree, Inc. DLTR Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.66%
 Tata Motors Limited (ADR) TTM Consumer Discretionary  Consumer Discretionary Large-Cap Value 0.64%
 Schweitzer-Mauduit International, Inc. SWM Materials  Materials Small-Cap Growth 0.63%
 Manhattan Associates, Inc. MANH Information Technology  Information Technology Small-Cap Growth 0.63%
 Papa John's International, Inc. PZZA Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.63%
 Texas Capital Bancshares, Inc. TCBI Financials  Financials Small-Cap Growth 0.61%
 RWE AG RWE.GY Utilities  Utilities Large-Cap Value 0.59%
 Monro Muffler Brake, Inc. MNRO Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.59%
 Prestige Brands Holdings Inc. PBH Consumer Staples  Consumer Staples Small-Cap Growth 0.59%
 Bank of the Ozarks, Inc. OZRK Financials  Financials Small-Cap Growth 0.58%
 E.ON SE EOAN.GY Utilities  Utilities Large-Cap Value 0.58%
 Group 1 Automotive, Inc. GPI Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.57%
 Air Methods Corporation AIRM Health Care  Health Care Small-Cap Growth 0.57%
 CF Industries Holdings, Inc. CF Materials  Materials Mid-Cap Value 0.56%
 DealerTrack Technologies Inc. TRAK Information Technology  Information Technology Small-Cap Growth 0.56%
 Elizabeth Arden, Inc. RDEN Consumer Staples  Consumer Staples Small-Cap Growth 0.55%
 France Telecom S.A. FTE.FP Telecommunication Services  Telecommunication Services Large-Cap Value 0.54%
 Heartland Payment Systems, Inc. HPY Information Technology  Information Technology Small-Cap Growth 0.53%
 Vitamin Shoppe, Inc. VSI Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.53%
 MasterCard, Inc. MA Information Technology  Information Technology Large-Cap Growth 0.52%
 Cardtronics Inc. CATM Information Technology  Information Technology Small-Cap Growth 0.50%
 Asbury Automotive Group Inc. ABG Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.49%
 Cogent Communications Group Inc. CCOI Telecommunication Services  Telecommunication Services Small-Cap Growth 0.49%
 Krispy Kreme Doughnuts Inc. KKD Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.47%
 RBC Bearings Inc. ROLL Industrials  Industrials Small-Cap Growth 0.45%
 OSI Systems, Inc. OSIS Information Technology  Information Technology Small-Cap Growth 0.43%
 Marathon Petroleum Corporation MPC Energy  Energy Large-Cap Value 0.40%
 Huron Consulting Group Inc. HURN Industrials  Industrials Small-Cap Growth 0.39%
 SHFL entertainment, Inc. SHFL Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.37%
 Exlservice Holdings, Inc. EXLS Information Technology  Information Technology Small-Cap Growth 0.37%
 Rockwell Collins, Inc. COL Industrials  Industrials Mid-Cap Growth 0.36%
 Zumiez Inc. ZUMZ Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.34%
 The Clorox Company CLX Consumer Staples  Consumer Staples Mid-Cap Growth 0.33%
 Sonic Automotive, Inc. SAH Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.33%
 Flotek Industries, Inc. FTK Materials  Materials Small-Cap Growth 0.33%
 Kulicke & Soffa Industries, Inc. KLIC Information Technology  Information Technology Small-Cap Value 0.32%
 Luminex Corporation LMNX Health Care  Health Care Small-Cap Growth 0.32%
 Red Robin Gourmet Burgers Inc. RRGB Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.32%
 The Southern Company SO Utilities  Utilities Large-Cap Value 0.28%
 Ross Stores, Inc. ROST Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.27%
 Fastenal Company FAST Industrials  Industrials Large-Cap Growth 0.26%
 ServiceSource International, Inc. SREV Information Technology  Information Technology Small-Cap Growth 0.26%
 Brown–Forman Corporation BF/B Consumer Staples  Consumer Staples Large-Cap Growth 0.25%
 Cincinnati Bell Inc. CBB Telecommunication Services  Telecommunication Services Small-Cap Growth 0.24%
 Cintas Corporation CTAS Industrials  Industrials Mid-Cap Value 0.23%
 Old Dominion Freight Line, Inc. ODFL Industrials  Industrials Mid-Cap Growth 0.23%
 Dominion Resources, Inc. D Utilities  Utilities Large-Cap Value 0.22%
 FARO Technologies, Inc. FARO Information Technology  Information Technology Small-Cap Growth 0.22%
 8x8, Inc. EGHT Telecommunication Services  Telecommunication Services Small-Cap Growth 0.22%
 Mattel, Inc. MAT Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.21%
 Dillard’s, Inc. (Class A) DDS Consumer Discretionary  Consumer Discretionary Mid-Cap Value 0.20%
 DISH Network Corp. DISH Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.18%
 PetSmart, Inc. PETM Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.18%
 KLA–Tencor Corporation KLAC Information Technology  Information Technology Mid-Cap Value 0.17%
 Neenah Paper, Inc. NP Materials  Materials Small-Cap Growth 0.17%
 United Rentals, Inc. URI Industrials  Industrials Mid-Cap Growth 0.17%
 The Timken Company TKR Industrials  Industrials Mid-Cap Value 0.16%
 Advance Auto Parts, Inc. AAP Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.15%
 Myers Industries, Inc. MYE Materials  Materials Small-Cap Growth 0.14%
 Genesco Inc. GCO Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.14%
 Insight Enterprises, Inc. NSIT Information Technology  Information Technology Small-Cap Value 0.14%
 Coinstar, Inc. CSTR Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.14%
 Monster Beverage Corporation MNST Consumer Staples  Consumer Staples Mid-Cap Growth 0.14%
 Ascena Retail Group Inc. ASNA Consumer Discretionary  Consumer Discretionary Mid-Cap Value 0.13%
 Jabil Circuit, Inc. JBL Information Technology  Information Technology Mid-Cap Value 0.13%
 VAALCO Energy, Inc. EGY Energy  Energy Small-Cap Value 0.13%
 Garmin Ltd. GRMN Consumer Discretionary  Consumer Discretionary Mid-Cap Value 0.12%
 Helmerich & Payne, Inc. HP Energy  Energy Mid-Cap Value 0.11%
 Mitcham Industries, Inc. MIND Energy  Energy Small-Cap Value 0.08%
 Wisconsin Energy Corporation WEC Utilities  Utilities Mid-Cap Value 0.06%
 ZAGG Inc. ZAGG Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.06%
 
Total Number of Holdings:    120
Underlying Securities information represented above is as of 06/18/2013 but will vary with future fluctuations in the market.

An investment in an equity portfolio should be made with an understanding of the risks associated with an investment in common stocks including the risk that the financial condition of the issuers of the equities or the general condition of the stock market may worsen.

A portfolio which is concentrated in an individual sector is subject to additional risks, including limited diversification.

The companies engaged in the consumer products sector are subject to global competition, changing government regulations and trade policies, currency fluctuations, and the financial and political risks inherent in producing products for foreign markets.

An investment in securities of foreign issuers should be made with an understanding of the additional risks involved, such as currency fluctuations, political risk, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers.

An investment in a portfolio containing REIT securities is subject to additional risks, as companies involved in the real estate industry are subject to changes in the real estate market, vacancy rates and competition, volatile interest rates and economic recession.

An investment in a portfolio containing small-cap companies is subject to additional risks, as the share prices of small-cap companies are often more volatile than those of larger companies due to several factors, including limited trading volumes, products, financial resources, management inexperience and less publicly available information.

The companies engaged in the technology sector are subject to fierce competition, high research and development costs, and their products and services may be subject to rapid obsolescence. Technology company stocks, especially those which are Internet-related, may experience extreme price and volume fluctuations that are often unrelated to their operating performance.

The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers.

All data used for the sector and style classification comparisons is from Bloomberg Finance L.P, which we believe to be reliable, but do not take responsibility for its accuracy.

The style and capitalization characteristics used to describe the stocks are designed to help you understand how they fit into your overall investment plan. Due to changes in the value of the stocks the characteristics may vary over time. In general, growth stocks have high relative price-to-book ratios while value stocks have low relative price-to-book ratios. In determining market capitalization characteristics, we analyze the market capitalizations of the 3,000 largest stocks in the U.S. (excluding foreign securities, ADRs, limited partnerships and regulated investment companies) on a monthly basis. Companies with market capitalizations among the largest 10% are considered Large-Cap securities, the next 20% are considered Mid-Cap securities and the remaining securities are considered Small-Cap securities.

Although the portfolio terminates in approximately one year, the strategy is long-term. Investors should consider their ability to pursue investing in successive portfolios, if available. There may be tax consequences unless units are purchased in an IRA or other qualified plan. The rollover option is subject to modification, termination, or suspension.

You should carefully consider the trust's investment objectives, risks, and charges and expenses before investing. Contact your financial advisor or call First Trust Portfolios, L.P. at 1.800.621.1675 to request a prospectus, which contains this and other information about the trust. Read it carefully before you invest.

This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state to any person to whom it is not lawful to make such an offer. Sales of any of these securities must include prospectus delivery and the services of a retail broker/dealer duly licensed in the appropriate states.

Not FDIC Insured, Not Bank Guaranteed and May Lose Value.

The Dow Jones Industrial AverageSM is a product of Dow Jones Indexes, a licensed trademark of CME Group Index Services LLC ("CME"), and has been licensed for use. "Dow Jones®", "The Dow®", "Dow Jones Industrial AverageSM" and "Dow Jones Indexes" are service marks of Dow Jones Trademark Holdings, LLC ("Dow Jones"), and have been licensed to CME and have been sublicensed for use for certain purposes by First Trust. The portfolio based on the Dow Jones Industrial AverageSM, is not sponsored, endorsed, sold or promoted by Dow Jones, CME or their respective affiliates and none of them makes any representation regarding the advisability of investing in such products.

The NASDAQ 100®, NASDAQ 100 Index®, and NASDAQ® are trade or service marks of The NASDAQ OMX Group, Inc. (which with its affiliates are the Corporations) and are licensed for use by First Trust Portfolios L.P. The portfolio has not been passed on by the Corporations as to its legality or suitability. The portfolio is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PORTFOLIO.

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