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First Trust Horizon Managed Volatility Domestic ETF (HUSV)
Investment Objective/Strategy - The First Trust Horizon Managed Volatility Domestic ETF is an actively managed exchange-traded fund. The Fund's investment objective is to provide capital appreciation. Under normal market conditions, the Fund will seek to achieve its investment objective by investing at least 80% of its net assets (including investment borrowings) in common stocks of domestic companies listed and traded on U.S. national securities exchanges that Horizon Investments, LLC believes exhibit low future expected volatility.
There can be no assurance that the Fund's investment objectives will be achieved.
Fund Overview
TickerHUSV
Fund TypeLarge Cap Core
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBrown Brothers Harriman
Portfolio Manager/Sub-AdvisorHorizon Investments, LLC
CUSIP33739P889
ISINUS33739P8894
Intraday NAVHUSVIV
Fiscal Year-End07/31
ExchangeNYSE Arca
Inception8/24/2016
Inception Price$19.96
Inception NAV$19.96
Expense Ratio0.70%
Current Fund Data (as of 3/24/2017)
Closing NAV1$21.12
Closing Share Price2$21.16
Bid/Ask Midpoint$21.13
Bid/Ask Premium0.02%
Total Net Assets$59,136,812
Outstanding Shares2,800,002
Daily Volume9,169
Average 30-Day Daily Volume9,024
Closing Share Price 52-Week High/Low$21.48 / $19.03
Closing NAV 52-Week High/Low$21.47 / $19.02
Number of Holdings70
Fund Characteristics (as of 2/28/2017)6
Maximum Market Cap.$576,666
Median Market Cap.$46,611
Minimum Market Cap.$9,130
Price/Earnings21.83
Price/Book3.57
Price/Cash Flow16.25
Price/Sales2.23
Top Holdings (as of 3/27/2017)
Holding Percent
McDonald's Corporation 3.85%
The Walt Disney Company 3.00%
PepsiCo, Inc. 2.76%
Waste Management, Inc. 2.56%
Altria Group, Inc. 2.49%
Johnson & Johnson 2.44%
Ecolab Inc. 2.38%
The Coca-Cola Company 2.38%
Republic Services, Inc. 2.37%
Verisk Analytics, Inc. (Class A) 2.36%

Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Distribution Information
Dividend per Share Amt3$0.0685
30-Day SEC Yield (as of 2/28/2017)41.10%
Distribution Rate (as of 2/28/2017)51.29%
Bid/Ask Midpoint vs. NAV (as of 12/31/2016)
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
12/31/2016 35 0 0 0
9/30/2016 23 1 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
12/31/2016 28 0 0 0
9/30/2016 3 0 0 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 3/27/2017)
Industrials 19.94%
Financials 19.84%
Consumer Staples 17.90%
Information Technology 14.23%
Consumer Discretionary 13.47%
Materials 7.64%
Health Care 3.58%
Utilities 2.39%
Energy 1.01%
Month End Performance (as of 2/28/2017)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception7
Fund Performance *
Net Asset Value (NAV) 7.77% 5.63% N/A N/A N/A N/A 6.64%
After Tax Held 7.61% 5.63% N/A N/A N/A N/A 6.48%
After Tax Sold 4.39% 3.19% N/A N/A N/A N/A 3.75%
Market Price 7.77% 5.62% N/A N/A N/A N/A 6.69%
Index Performance
S&P 500 Index 8.04% 5.94% N/A N/A N/A N/A 9.85%
Quarter End Performance (as of 12/30/2016)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception7
Fund Performance *
Net Asset Value (NAV) 1.98% N/A N/A N/A N/A N/A 0.96%
After Tax Held 1.82% N/A N/A N/A N/A N/A 0.80%
After Tax Sold 1.12% N/A N/A N/A N/A N/A 0.54%
Market Price 2.03% N/A N/A N/A N/A N/A 1.01%
Index Performance
S&P 500 Index 3.82% N/A N/A N/A N/A N/A 3.68%

*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.

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%.

S&P 500 Index - The Index is an unmanaged index of 500 stocks used to measure large-cap U.S. stock market performance.

Footnotes
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 Distribution Rate is calculated by dividing the fund's most recent ordinary distribution paid or declared, on an annualized basis, by the NAV price. Distribution rates may vary.
6 All market capitalization numbers are in USD$ Millions.
7 Inception Date is 8/24/2016

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 NYSE Arca, Inc.

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. The fund is subject to management risk because they are actively managed portfolios. In managing the fund's investment portfolio, the advisor will apply investment techniques and risk analyses that may not have the desired result. There can be no assurance that the fund's investment objectives will be achieved.

The fund is subject to market risk. Market risk is the risk that a particular security owned by a fund or shares of a fund in general may fall in value.

If the fund has lower average daily trading volumes, they may rely on a small number of third-party market makers to provide a market for the purchase and sale of shares. Any trading halt or other problem relating to the trading activity of these market makers could result in a dramatic change in the spread between a fund's net asset value and the price at which a fund's shares are trading on NYSE Arca which could result in a decrease in value of the fund's shares.

The fund invests in equity securities and the value of the shares will fluctuate with changes in the value of these equity securities. Equity securities prices fluctuate for several reasons, including changes in investors' perceptions of the financial condition of an issuer or the general condition of the relevant stock market.

A fund may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.

As the use of Internet technology has become more prevalent in the course of business, the fund has become more susceptible to potential operational risks through breaches in cyber security. Such events could cause the funds to incur regulatory penalties, reputational damage, additional compliance costs associated with corrective measures and/or financial loss.

High portfolio turnover may result in a fund paying higher levels of transaction costs and generating greater tax liabilities for shareholders. Portfolio turnover risk may cause a fund's performance to be less than expected.

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 their assets in a limited number of issuers. As a result, the funds 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.

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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