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First Trust International IPO ETF (FPXI)
Investment Objective/Strategy - The First Trust International IPO ETF 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 IPOX International Index.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The IPOX International Index is a rules based market-cap weighted index that measures the performance of the 50 largest and typically most liquid companies that are domiciled outside the U.S. within the IPOX Global Composite Index.
  • The IPOX Global Composite Index is constructed and managed to provide a broad and objective view of global aftermarket performance of recent IPOs and spin-offs in both emerging and developed countries during their first 1000 trading days.
  • After applying initial screens, all eligible constituents generally must have at least six full days of trading in order to enter the index on each rebalance.
  • All constituents of the IPOX Global Composite Index are then ranked by market capitalization and the 50 largest international companies are selected for the IPOX International Index. Constituent weights are capped at 10%.
  • The index is reconstituted and rebalanced quarterly.
Fund Overview
Fund TypeGrowth
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon
Fiscal Year-End09/30
Inception Price$30.00
Inception NAV$30.00
Rebalance FrequencyQuarterly
Expense Ratio0.70%
Current Fund Data (as of 11/16/2017)
Closing NAV1$34.82
Closing Share Price2$35.06
Bid/Ask Midpoint$35.03
Bid/Ask Premium0.58%
Total Net Assets$20,894,334
Outstanding Shares600,002
Daily Volume2,246
Average 30-Day Daily Volume4,268
Closing Share Price 52-Week High/Low$35.71 / $25.49
Closing NAV 52-Week High/Low$35.49 / $25.51
Number of Holdings50
Fund Characteristics (as of 10/31/2017)7
Maximum Market Cap.$473,318
Median Market Cap.$10,078
Minimum Market Cap.$1,520
Price/Cash Flow14.33
Top Holdings (as of 11/16/2017)
Holding Percent
Alibaba Group Holding Limited (ADR) 10.63%
JD.com, Inc. (ADR) 7.18%
Japan Post Bank Company, Ltd. 6.85%
Recruit Holdings Co. Ltd. 5.03%
China Vanke Co, Ltd. (Class H) 4.90%
CK Asset Holdings Ltd. 3.89%
Aena, S.A. 3.55%
ABN AMRO Group N.V. 3.46%
Ferrari N.V. 3.37%
Weibo Corporation (ADR) 3.22%

Holdings are subject to change.

Top Country Exposure (as of 11/16/2017)
Country Percent
China 35.29%
Japan 12.52%
The Netherlands 8.82%
Germany 7.46%
Hong Kong 6.76%
Italy 4.86%
Spain 3.56%
Canada 2.94%
Denmark 2.85%
Australia 2.69%
NAV History (Since Inception)
Past performance is not indicative of future results.
Distribution Information
Dividend per Share Amt (as of 11/20/2017)3$0.0682
30-Day SEC Yield (as of 10/31/2017)41.07%
12-Month Distribution Rate (as of 10/31/2017)50.71%
Index Yield (as of 10/31/2017)61.79%
Bid/Ask Midpoint vs. NAV (as of 9/30/2017)
Number of Days Bid/Ask Midpoint Above NAV
Quarter Ended 0-49
Basis Points
Basis Points
Basis Points
Basis Points
9/30/2017 52 9 0 0
6/30/2017 34 8 0 0
3/31/2017 29 5 0 0
12/31/2016 23 10 0 0
Number of Days Bid/Ask Midpoint Below NAV
Quarter Ended 0-49
Basis Points
Basis Points
Basis Points
Basis Points
9/30/2017 2 0 0 0
6/30/2017 14 7 0 0
3/31/2017 19 9 0 0
12/31/2016 28 1 1 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 11/16/2017)
Financials 22.46%
Information Technology 18.45%
Consumer Discretionary 17.44%
Industrials 13.84%
Real Estate 8.81%
Utilities 7.72%
Consumer Staples 4.21%
Materials 4.09%
Health Care 2.49%
Telecommunication Services 0.49%
Month End Performance (as of 10/31/2017)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) 5.27% 37.30% 30.92% N/A N/A N/A 6.71%
After Tax Held 5.18% 37.05% 30.44% N/A N/A N/A 6.12%
After Tax Sold 2.98% 21.10% 17.45% N/A N/A N/A 4.86%
Market Price 5.57% 37.23% 31.71% N/A N/A N/A 6.83%
Index Performance **
IPOX International Index 5.68% 38.10% 32.18% N/A N/A N/A 7.48%
MSCI World ex USA Index 3.97% 20.79% 22.74% N/A N/A N/A 5.94%
Quarter End Performance (as of 9/29/2017)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) 9.84% 35.14% 26.71% N/A N/A N/A 6.33%
After Tax Held 9.75% 34.90% 26.24% N/A N/A N/A 5.73%
After Tax Sold 5.57% 19.88% 15.08% N/A N/A N/A 4.56%
Market Price 10.10% 35.32% 26.77% N/A N/A N/A 6.52%
Index Performance **
IPOX International Index 10.14% 35.83% 28.15% N/A N/A N/A 7.10%
MSCI World ex USA Index 5.62% 19.17% 18.73% N/A N/A N/A 5.62%

*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 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. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.

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 IPOX International Index is for illustrative purposes only and does not represent actual fund performance.
Indexes do 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 0.70%.

MSCI World ex USA Index - The Index includes developed markets and is designed to provide a broad measure of stock performance throughout the world, with the exception of U.S.-based companies.

1 The NAV represents the fund's net assets (assets less liabilities) divided by the fund's outstanding shares .
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 to today's date. Subject to change in the future. There is no guarantee that the fund will declare dividends.
4 The 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 and includes the effects of fee waivers and expense reimbursements, if applicable.
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 IPOX International Index.
7 All market capitalization numbers are in USD$ Millions.
8 Inception Date is 11/4/2014

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 IPOX International Index.  Securities held by the fund will generally not be bought or sold in response to market fluctuations.

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. If the fund's authorized participants are unable to proceed with creation/redemption orders and no other authorized participant is able to step forward to create or redeem, fund shares may trade at a discount to the fund's net asset value and possibly face delisting.

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. There can be no assurance that the fund's investment objective will be achieved.

The fund may invest in securities issued by companies concentrated in a particular industry or country. The fund may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.

An investment in a fund containing securities of non-U.S. issuers is subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers. These risks may be heightened for securities of companies located in, or with significant operations in, emerging market countries. The fund may invest in depositary receipts which may be less liquid than the underlying shares in their primary trading market.

The stocks of companies that have recently conducted an initial public offering are often subject to price volatility and speculative trading. These stocks may have exhibited above-average price appreciation in connection with the initial public offering prior to inclusion in the fund. The price of stocks included in the fund may not continue to appreciate and their performance may not replicate the performance exhibited in the past.

Financial companies are especially subject to the adverse effects of economic recession, currency exchange rates, government regulation, decreases in the availability of capital, volatile interest rates, portfolio concentrations in geographic markets and in commercial and residential real estate loans, and competition from new entrants in their fields of business.

The fund may effect a portion of creations and redemptions for cash, rather than in-kind securities. As a result, the fund may be less tax-efficient.

The fund currently has fewer assets than larger funds, and like other relatively new funds, large inflows and outflows may impact the fund's market exposure for limited periods of time.

The fund is classified as "non-diversified" and may invest a relatively high percentage of its assets in a limited number of issuers. As a result, the fund may be more susceptible to a single adverse economic or regulatory occurrence affecting one or more of these issuers, experience increased volatility and be highly concentrated in certain issuers.

First Trust Advisors L.P. is the adviser to the fund. First Trust Advisors L.P. is an affiliate of First Trust Portfolios L.P., the fund's distributor.

A patent with respect to the IPOX® index methodology has been issued (U.S. Pat. No. 7,698,197). IPOX® is a registered international trademark of IPOX® Schuster LLC (www.ipoxschuster.com).

Not FDIC Insured • Not Bank Guaranteed • May Lose Value
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
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