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First Trust BICK Index Fund (BICK)
Investment Objective/Strategy - The First Trust BICK Index Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before the Fund's fees and expenses, of an equity index called the ISE BICK™ (Brazil, India, China, South Korea) Index.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The ISE BICK™ Index is designed to provide a benchmark for investors interested in tracking the largest and most liquid public companies that are domiciled in Brazil, India, Mainland China and South Korea.
  • Each component security must have a market capitalization of at least $100 million.
  • For each country, the securities are ranked in descending order by market capitalization and in descending order by liquidity.
  • The 25 top ranked securities for each country are selected for inclusion in the index. If a country has less than 25 eligible securities, all eligible securities are selected.
  • The index uses an equal weighted allocation methodology so that each country represents 25% of the index at each rebalance. All components within a country allocation are equally-weighted as well at the rebalance date.
  • Index components are reviewed quarterly for eligibility and any changes in component securities of the index are made after the market close on the third Friday of each March, June, September and December.
Fund Overview
TickerBICK
Fund TypeEmerging Markets
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon
CUSIP33733H107
Intraday NAVBICKIV
Fiscal Year-End09/30
ExchangeNASDAQ Stock Market
Inception4/12/2010
Inception Price$30.00
Inception NAV$30.00
Rebalance FrequencyQuarterly
Expense Ratio0.64%
Current Fund Data (as of 7/21/2014)
Closing NAV1$26.81
Closing Share Price2$26.71
Bid/Ask Midpoint$26.79
Bid/Ask Discount0.09%
Total Net Assets$18,765,832
Outstanding Shares700,002
Daily Volume2,121
Average 30-Day Daily Volume2,606
Closing Share Price 52-Week High/Low$27.04 / $21.15
Closing NAV 52-Week High/Low$27.26 / $21.34
Number of Holdings91
Fund Characteristics (as of 6/30/2014)7
Median Market Cap.$19,097
Maximum Market Cap.$223,420
Minimum Market Cap.$973
Price/Earnings14.18
Price/Book1.87
Price/Cash Flow3.94
Price/Sales1.07
Top Holdings (as of 7/22/2014)
Holding Percent
WNS Holdings Ltd. (ADR) 1.67%
Tata Steel Ltd. (GDR) 1.65%
Axis Bank Limited (GDR) 1.64%
ICICI Bank Limited (ADR) 1.61%
Dr. Reddy's Laboratories Limited (ADR) 1.58%
Tata Motors Limited (ADR) 1.58%
HDFC Bank Ltd. (ADR) 1.57%
Reliance Industries Ltd. (GDR) 1.57%
Wipro Ltd. (ADR) 1.53%
Infosys Limited (ADR) 1.52%

Holdings are subject to change.

Bid/Ask Midpoint and NAV History (Since Inception)
Past performance is not indicative of future results.
Distribution Information
Dividend per Share Amt3$0.1008
30-Day SEC Yield (as of 6/30/2014)40.86%
12-Month Distribution Rate (as of 6/30/2014)51.40%
Index Yield (as of 6/30/2014)62.26%
Bid/Ask Midpoint vs. NAV (as of 6/30/2014)
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
6/30/2014 13 0 0 0
3/31/2014 2 0 0 0
12/31/2013 4 0 0 0
9/30/2013 3 3 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
6/30/2014 43 7 0 0
3/31/2014 21 30 8 0
12/31/2013 27 31 2 0
9/30/2013 27 27 4 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.

Top Sector Exposure (as of 7/22/2014)
Financials 28.72%
Information Technology 16.56%
Consumer Discretionary 13.43%
Materials 12.54%
Energy 8.78%
Industrials 7.36%
Consumer Staples 4.16%
Telecommunication Services 3.96%
Health Care 2.47%
Utilities 2.02%
Month End Performance (as of 6/30/2014)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception8
Fund Performance *
NAV 8.80% 8.33% 27.66% -4.01% N/A N/A -1.01%
After Tax Held 8.62% 8.03% 26.83% -4.61% N/A N/A -1.65%
After Tax Sold 4.98% 4.71% 15.62% -3.29% N/A N/A -1.01%
Market Price 9.31% 8.05% 28.59% -4.19% N/A N/A -1.06%
Index Performance **
ISE BICK™ Index 9.19% 8.99% 28.99% -3.10% N/A N/A -0.08%
MSCI Emerging Markets Index 6.60% 6.14% 14.31% -0.39% N/A N/A 2.77%
MSCI All Country World Index 5.04% 6.18% 22.95% 10.25% N/A N/A 10.00%
Quarter End Performance (as of 6/30/2014)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception8
Fund Performance *
NAV 8.80% 8.33% 27.66% -4.01% N/A N/A -1.01%
After Tax Held 8.62% 8.03% 26.83% -4.61% N/A N/A -1.65%
After Tax Sold 4.98% 4.71% 15.62% -3.29% N/A N/A -1.01%
Market Price 9.31% 8.05% 28.59% -4.19% N/A N/A -1.06%
Index Performance **
ISE BICK™ Index 9.19% 8.99% 28.99% -3.10% N/A N/A -0.08%
MSCI Emerging Markets Index 6.60% 6.14% 14.31% -0.39% N/A N/A 2.77%
MSCI All Country World Index 5.04% 6.18% 22.95% 10.25% N/A N/A 10.00%
3-Year Statistics (as of 6/30/2014)
  Standard Deviation Alpha Beta Sharpe Ratio Correlation
BICK 25.80% -2.62 1.30 -0.05 0.98
MSCI Emerging Markets Index 19.50% --- 1.00 0.06 1.00
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.

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.

**Performance information for the ISE BICK™ Index is for illustrative purposes only and does not represent actual fund performance. 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.

The expense ratio for this fund is 0.64%.

The MSCI All Country World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets.

The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets.

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 ISE BICK(TM) Index
7 All market capitalization numbers are in USD$ Millions.
8 Inception Date is 4/12/2010

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 NASDAQ Stock Market LLC.

The fund's return may not match the return of the ISE BICK™ Index.  Securities held by the fund will generally not be bought or sold in response to market fluctuations.

The fund may not be fully invested at times. 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 may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.

The fund invests in securities of non-U.S. issuers. Such securities are subject to higher volatility than securities of domestic issuers. Risks may be heightened for securities of companies located in, or with significant operations in, emerging market countries. Because the fund's NAV is determined on the basis of U.S. dollars and the fund invests in foreign securities, you may lose money if the local currency of a foreign market depreciates against the U.S. dollar. Additionally, the fund invests in depositary receipts, usually in the form of ADRs or GDRs. Investment in ADRs or GDRs may be less liquid than the underlying shares in their primary trading market.

An investment in the fund should be made with an understanding of the risks specific to issuers located in Brazil, India, China and South Korea. Brazil has experienced substantial economic instability resulting from, among other things, periods of high inflation, public sector deficits and significant devaluations of its currency. Brazilian companies are particularly sensitive to fluctuations in commodity prices.

Companies domiciled in India are subject to certain risks, including, but not limited to, greater price volatility, less liquidity and smaller market capitalization of securities markets, governmental involvement in the economy, higher rates of inflation, economic and social uncertainty, and infrastructure problems. In addition, India's businesses may be affected by political uncertainty and a sometimes still slow-moving bureaucracy.

The economy of China differs, often unfavorably, from the U.S. economy in such respects as structure, general development, government involvement, wealth distribution, rate of inflation, growth rate, allocation of resources and capital reinvestment. China's economy is dependent on the economies of other Asian countries and can be significantly affected by currency fluctuations and increasing competition from Asia's other low-cost emerging economies.

The South Korean economy is dependent on the economies of Asia and the U.S. as key trading partners. Reduction in spending by these economies on South Korean products and services or negative changes in any of these economies may cause an adverse impact on the South Korean economy. South Korea's economy is dependent on the economies of other Asian countries and can be significantly affected by currency fluctuations and increasing competition from Asia's other low-cost emerging economies.

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.

The fund currently intends to effect a significant portion of creations and redemptions for cash, rather than in-kind securities. As a result, the fund may be less tax-efficient than if it were to sell and redeem its shares principally in-kind.

The First Trust BICK Index Fund is not sponsored, endorsed, sold or promoted by the International Securities Exchange (ISE). ISE makes no representation or warranty, express or implied, to the owners of the fund or any member of the public regarding the advisability of trading in the fund. ISE's only relationship to First Trust is the licensing of certain trademarks and trade names of the ISE and of the ISE BICKTM Index which is determined, composed and calculated by ISE without regard to First Trust or the fund.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value
 
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
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