The First Trust Target VIQ Fund, specifically designed for the qualified employer plan marketplace, seeks to provide above-average total return by adhering to five specialized investment strategies. It invests in a portfolio of stocks which are selected by applying pre-determined screens and factors and is automatically rebalanced annually. In addition to this annual rebalancing of the individual component strategies back to their original weighting, new stocks are also selected by reapplying the underlying strategies.

Share Classes

Three share classes of the First Trust Target VIQ Fund are currently offered. For more information, click on the desired share class below.

How the Fund Pursues it's Objective

Like First Trust's other blended Target strategies, the 5 Target VIQ strategies are:

• Completely transparent – investors always know what they own
• Non–emotional - quantitative and disciplined strategies
• Diversified – the blended strategies cover all styles, sectors and markets
• Annually rebalanced – automated buy and sell discipline

• The NYSE® International Target 25 Strategy
• The S&P Target SMid 60 Strategy
• The Target Diversified Dividend Strategy
• The Target Growth Strategy
• The Value Line® Diversified Target 40 Strategy

What are the Risks of Investing in the Fund?:

The Fund is not a mutual fund and its units are not deposits of the Trust or the Advisor, and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other agency. The units are securities which have not been registered under the 1933 Act and the Fund is exempted from investment company registration under the 1940 Act. Therefore, participating plans and their participants will not be entitled to the protections under these Acts. As defined in the Declaration of Trust establishing the Fund, the Fund is available for investment by eligible qualified retirement plans only. Management of the Trust, however, is generally subject to the fiduciary duty and prohibited transaction rules under ERISA.

As with any investment, you can lose money by investing in the Fund. Before investing you should consider carefully the following risks that you assume when you invest in the fund.

Market Risk. Market risk is the risk that a particular stock owned by the Fund, units of the Fund or stocks in general may fall in value. Units are subject to market fluctuations caused by such factors as economic, political, regulatory or market developments, changes in interest rates and perceived trends in stock prices. Overall stock values could decline generally or could underperform other investments.

Smaller Company Risk. The Fund invests in small and/or mid capitalization companies. Such companies may be more vulnerable to adverse general market or economic developments, and their securities may be less liquid and may experience greater price volatility than larger, more established companies as a result of several factors, including limited trading volumes, products or financial resources, management inexperience and less publicly available information. Accordingly, such companies are generally subject to greater market risk than larger, more established companies.

Non-U.S. Securities Risk. The Fund invests in securities of non-U.S. issuers. Investing in securities of non-U.S. issuers, which are generally denominated in non-U.S. currencies, may involve certain risks not typically associated with investing in securities of U.S. issuers. Some of these risks may include, but are not limited to, the following: (i) there may be less publicly available information about non-U.S. issuers or markets due to less rigorous disclosure or accounting standards or regulatory practices; (ii) non-U.S. markets may be smaller, less liquid and more volatile than the U.S. market; (iii) potential adverse effects of fluctuations in currency exchange rates or controls on the value of the Fund's investments; (iv) the economies of non-U.S. countries may grow at slower rates than expected or may experience a downturn or recession; (v) the impact of economic, political, social or diplomatic events; (vi) certain non-U.S. countries may impose restrictions on the ability of non-U.S. issuers to make distribution payments to investors located in the United States due to blockage of non-U.S. currency exchanges or otherwise; and (vii) withholding and other non- U.S. taxes may decrease the Fund's return. These risks may be more pronounced to the extent that the Fund invests a significant amount of its assets in companies located in one country.