Richard Bernstein Advisors Quality Income, 22  Ticker: FPUYZX
 
Description
A unit investment trust that seeks total return through a combination of dividend income and capital appreciation. The stocks are selected for the trust by Richard Bernstein Advisors LLC using their comprehensive Quality Income strategy.
 
Summary
Product Code: RBAQ22
Portfolio Status: Secondary
Initial Offer Date: 08/12/2016
Secondary Date: 11/07/2016
Portfolio Ending Date: 11/13/2017
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $9.8747
POP(*): $10.1227
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 03/27/2017 4:00pm ET
The Public Offering Price (POP) represents the net asset value per unit plus any applicable organization costs and sales charges. The Net Asset Value (NAV) represents the value per unit of a trust’s portfolio securities and other assets reduced by applicable deferred sales charges and other liabilities.

 Estimated Net Annual Distribution Per Unit
Estimated Net Annual Distribution Per Unit * $0.3126
As of 03/27/2017
* The estimates are based on annualizing the most recent dividends declared by the issuers of the securities included in the portfolio. 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 26.40%
Consumer Staples  Consumer Staples 5.15%
Energy  Energy 0.00%
Financials  Financials 8.15%
Health Care  Health Care 12.34%
Industrials  Industrials 3.50%
Information Technology  Information Technology 10.27%
Materials  Materials 0.00%
Real Estate  Real Estate 10.53%
Telecommunication Services  Telecommunication Services 0.00%
Utilities  Utilities 23.50%
Other  Other 0.16%
 
  Large Mid Small  
Growth  4.01% 12.57% 25.35%  
Value  24.91% 11.71% 21.29%  

 Style Weighting
Large-Cap Growth 4.01%
Large-Cap Value 24.91%
Mid-Cap Growth 12.57%
Mid-Cap Value 11.71%
Small-Cap Growth 25.35%
Small-Cap Value 21.29%
Undetermined 0.16%
 Composition
U.S. Stocks 83.14%   Other 0.16%
Non-U.S. Stocks 16.70%      
The style and sector characteristics of the portfolio are determined as of 03/27/2017 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $20,380.30
Weighted Average Price/Earnings 20.29
Weighted Average Price/Book 2.35
As of 3/27/2017
All market capitalization numbers are in USD$ Millions

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolSectorStyleWeighting
 Flowers Foods, Inc. FLO Consumer Staples  Consumer Staples Mid-Cap Growth 5.15%
 Carnival Corporation CCL Consumer Discretionary  Consumer Discretionary Large-Cap Value 5.09%
 Capella Education Company CPLA Consumer Discretionary  Consumer Discretionary Small-Cap Growth 4.89%
 Vectren Corporation VVC Utilities  Utilities Mid-Cap Value 4.54%
 Sanofi (ADR) SNY Health Care  Health Care Large-Cap Value 4.47%
 Cisco Systems, Inc. CSCO Information Technology  Information Technology Large-Cap Value 4.35%
 WesBanco, Inc. WSBC Financials  Financials Small-Cap Value 4.18%
 Xcel Energy Inc. XEL Utilities  Utilities Large-Cap Value 4.16%
 Paychex, Inc. PAYX Information Technology  Information Technology Large-Cap Growth 4.01%
 Consolidated Edison, Inc. ED Utilities  Utilities Large-Cap Value 3.97%
 Bank of Hawaii Corporation BOH Financials  Financials Small-Cap Growth 3.97%
 National HealthCare Corporation NHC Health Care  Health Care Small-Cap Value 3.94%
 Owens & Minor, Inc. OMI Health Care  Health Care Small-Cap Growth 3.93%
 Cracker Barrel Old Country Store, Inc. CBRL Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 3.92%
 PetMed Express, Inc. PETS Consumer Discretionary  Consumer Discretionary Small-Cap Growth 3.65%
 Garmin Ltd. GRMN Consumer Discretionary  Consumer Discretionary Mid-Cap Value 3.64%
 National Health Investors, Inc. NHI Real Estate  Real Estate Small-Cap Growth 3.58%
 Life Storage, Inc. LSI Real Estate  Real Estate Mid-Cap Value 3.53%
 Grupo Aeroportuario del Pacifico S.A.B. de C.V. (ADR) PAC Industrials  Industrials Mid-Cap Growth 3.50%
 LTC Properties, Inc. LTC Real Estate  Real Estate Small-Cap Growth 3.42%
 ALLETE, Inc. ALE Utilities  Utilities Small-Cap Value 3.18%
 Avista Corporation AVA Utilities  Utilities Small-Cap Value 3.05%
 Target Corporation TGT Consumer Discretionary  Consumer Discretionary Large-Cap Value 2.87%
 Northwest Natural Gas Company NWN Utilities  Utilities Small-Cap Value 2.46%
 The Cato Corporation CATO Consumer Discretionary  Consumer Discretionary Small-Cap Value 2.34%
 Artesian Resources Corporation ARTNA Utilities  Utilities Small-Cap Value 2.14%
 American Software, Inc. (Class A) AMSWA Information Technology  Information Technology Small-Cap Growth 1.91%
 
Total Number of Holdings:    27
Underlying Securities information represented above is as of 03/27/2017 but will vary with future fluctuations in the market.

Risk Considerations

Equity Risk. An investment in a portfolio containing common stocks is subject to certain risks, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market.

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

Buy & Hold Risk – Taxable Trusts. This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan.

Consumer Products Risk. 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.

Emerging Markets Risk. Risks associated with investing in foreign securities may be more pronounced in emerging markets where the securities markets are substantially smaller, less liquid, less regulated and more volatile than the U.S. and developed foreign markets.

Foreign Securities Risk. 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.

REITs Risk. An investment in a portfolio containing REIT securities is subject to additional risks including limited diversification. 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.

Small-Cap and Mid-Cap Risk. An investment in a portfolio containing small-cap and mid-cap companies is subject to additional risks, as the share prices of small-cap companies and certain mid-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.

Volatility Risk. 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.

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.