Municipal Advantage Closed-End and ETF, 19

Description

A unit investment trust which seeks federally tax-exempt income by investing in a diversified pool of closed-end funds and exchange-traded funds that invest in municipal bonds. In addition, as of the initial date of deposit none of the funds selected for the portfolio were reporting the use of leverage. However, certain of the funds may elect to use leverage in the future.

Summary

Product Code:

MAPS19

Portfolio Status:

Secondary

Initial Offer Date:

02/27/2013

Secondary Date:

05/08/2013

Portfolio Ending Date:

03/02/2015

Tax Structure:

RIC

Distributions:

Monthly

Initial Offer Price:	$10.0000
NAV(*):	$9.3737
POP(*):	$9.7086

* As of Trade Date: 05/23/2013 4:00pm ET


Fact Sheet	Prospectus

Estimated Net Annual Distribution Per Unit

Estimated Net Annual Distribution *	$0.3400
Subsequent Years *	$0.3392
As of 05/20/2013

* The estimated net annual distribution for subsequent years is expected to be less than the amount for the first year because a portion of the securities included in the portfolio will be sold to pay for organization costs, the deferred sales charge and the creation and development fee. 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

Export Current Holdings | View Initial Holdings

Name	Symbol	Weighting
Market Vectors High Yield Municipal Index ETF	HYD	6.59%
SPDR Nuveen S&P High Yield Municipal Bond ETF	HYMB	6.59%
Western Asset Municipal Defined Opportunity Trust Inc.	MTT	6.53%
PowerShares Insured National Municipal Bond Portfolio	PZA	6.51%
Market Vectors Long Municipal Index ETF	MLN	6.46%
MainStay DefinedTerm Municipal Opportunities Fund	MMD	6.40%
SPDR Nuveen Barclays California Municipal Bond ETF	CXA	5.54%
iShares S&P New York AMT-Free Municipal Bond Fund	NYF	5.53%
iShares S&P California AMT-Free Municipal Bond Fund	CMF	5.52%
Market Vectors Intermediate Municipal Index ETF	ITM	5.05%
SPDR Nuveen Barclays Municipal Bond ETF	TFI	5.03%
iShares S&P National AMT-Free Municipal Bond Fund	MUB	5.03%
PowerShares Insured California Municipal Bond Portfolio	PWZ	4.79%
Nuveen AMT-Free Municipal Value Fund	NUW	4.77%
Nuveen Select Tax-Free Income Portfolio 3	NXR	4.09%
Western Asset Municipal High Income Fund Inc.	MHF	3.30%
Nuveen Select Tax-Free Income Portfolio	NXP	3.19%
Nuveen Select Maturities Municipal Fund	NIM	2.90%
PowerShares Insured New York Municipal Bond Portfolio	PZT	2.75%
SPDR Nuveen Barclays New York Municipal Bond ETF	INY	1.75%
Nuveen California Municipal Value Fund 2	NCB	1.52%

Total Number of Holdings: 21

Underlying Securities information represented above is as of 05/23/2013 but will vary with future fluctuations in the market.

ETFs are subject to various risks, including management's ability to meet the fund's investment objective, and to manage the fund's portfolio when the underlying securities are redeemed or sold, during periods of market turmoil and as investors' perceptions regarding ETFs or their underlying investments change. Unlike open-end funds, which trade at prices based on a current determination of the fund's net asset value, ETFs frequently trade at a discount from their net asset value in the secondary market.

Investing in high-yield securities or "junk" bonds should be viewed as speculative and you should review your ability to assume the risks associated with investments which utilize such securities. High-yield securities are subject to numerous risks, including higher interest rates, economic recession, deterioration of the junk bond market, possible downgrades and defaults of interest and/or principal. High-yield security prices tend to fluctuate more than higher rated securities and are affected by short-term credit developments to a greater degree.

Municipal bonds are subject to numerous risks, including higher interest rates, economic recession, deterioration of the municipal bond market, possible downgrades and defaults of interest and/or principal. Interest income from closed-end municipal bond funds is generally exempt from federal income tax. However, certain distributions may be subject to federal income tax and/or subject to the alternative minimum tax.

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.

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.

Product Watch Options

Click on the appropriate CUSIP below to add it to your product watch list:

30275S509	(Cash)
30275S517	(Reinvest)
30275S525	(Cash-Fee)
30275S533	(Reinvest-Fee)

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