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First Trust Dorsey Wright International Focus 5 ETF (IFV)
Investment Objective/Strategy - This exchange-traded fund seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Dorsey Wright International Focus Five Index.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The Dorsey Wright International Focus Five Index is designed to provide targeted exposure to five First Trust international ETFs that Dorsey, Wright & Associates, LLC (DWA) believes offer the greatest potential to outperform the other ETFs in the selection universe.
  • To construct the index, DWA begins with the universe of First Trust international ETFs, which includes country/region-based ETFs advised by First Trust Advisors L.P.
  • Using the DWA proprietary relative strength methodology, the ETFs are compared to each other to determine inclusion by measuring each ETF's price momentum relative to other ETFs in the universe.
  • Each ETF is given a score that allows DWA to objectively determine where it ranks relative to all other ETFs in the universe.
  • The relative strength analysis is conducted twice monthly. ETFs are replaced when they fall sufficiently out of favor, based on their relative strength, versus the other ETFs within the universe. The index is rebalanced so each position is equally weighted.
Fund Overview
TickerIFV
Fund TypeInternational Rotation
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBrown Brothers Harriman
CUSIP33738R886
ISINUS33738R8869
Intraday NAVIFVIV
Fiscal Year-End09/30
ExchangeNasdaq
Inception7/22/2014
Inception Price$20.09
Inception NAV$20.09
Rebalance FrequencyPeriodically
Fees and Expenses
Management Fees: 0.30%
Acquired Fund Fees and Expenses:* 0.76%
Total Annual Expenses: 1.06%
*Acquired fund fees and expenses reflect the fund's pro rata share of the indirect fees and expenses incurred by investing in one or more acquired funds.
Current Fund Data (as of 5/25/2017)
Closing NAV1$19.84
Closing Share Price2$19.86
Bid/Ask Midpoint$19.86
Bid/Ask Premium0.08%
Total Net Assets$645,902,574
Outstanding Shares32,550,002
Daily Volume135,846
Average 30-Day Daily Volume239,191
Closing Share Price 52-Week High/Low$20.67 / $15.65
Closing NAV 52-Week High/Low$20.62 / $15.70
Number of Holdings5
Fund Characteristics (as of 4/28/2017)7
Maximum Market Cap.$223
Median Market Cap.$159
Minimum Market Cap.$148
Top Holdings (as of 5/26/2017)
Holding Percent
First Trust Brazil AlphaDEX® Fund 20.40%
First Trust Switzerland AlphaDEX® Fund 20.16%
First Trust BICK Index Fund 19.94%
First Trust Germany AlphaDEX® Fund 19.74%
First Trust Chindia ETF 19.70%

Holdings are subject to change.

Top Country Breakdown (as of 5/26/2017)
Country Percent
Brazil 23.44%
Switzerland 20.17%
Germany 18.83%
China 16.74%
India 10.80%
South Korea 5.10%
Other 3.87%
South Africa 0.31%
Hong Kong 0.30%
United Kingdom 0.28%
NAV History (Since Inception)
Past performance is not indicative of future results.
Distribution Information
Dividend per Share Amt3$0.0314
30-Day SEC Yield (as of 4/28/2017)41.95%
12-Month Distribution Rate (as of 4/28/2017)50.97%
Index Yield (as of 4/28/2017)61.49%
Bid/Ask Midpoint vs. NAV (as of 3/31/2017)
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
3/31/2017 36 0 0 0
12/31/2016 34 0 0 0
9/30/2016 39 1 0 0
6/30/2016 44 0 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
3/31/2017 26 0 0 0
12/31/2016 28 1 0 0
9/30/2016 24 0 0 0
6/30/2016 20 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 5/26/2017)
Financials 20.03%
Consumer Discretionary 15.99%
Information Technology 15.55%
Materials 12.31%
Industrials 11.80%
Utilities 6.05%
Health Care 5.32%
Consumer Staples 4.48%
Telecommunication Services 4.11%
Energy 2.71%
Real Estate 1.65%
Month End Performance (as of 4/28/2017)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception8
Fund Performance *
Net Asset Value (NAV) 4.65% 13.42% 13.11% N/A N/A N/A -0.31%
After Tax Held 4.65% 13.42% 12.59% N/A N/A N/A -0.75%
After Tax Sold 2.63% 7.59% 7.39% N/A N/A N/A -0.45%
Market Price 4.76% 13.48% 13.11% N/A N/A N/A -0.31%
Index Performance **
Dorsey Wright International Focus Five Index 4.71% 13.53% 13.45% N/A N/A N/A -0.02%
MSCI All Country World ex US Index 6.40% 10.17% 12.59% N/A N/A N/A -0.50%
Quarter End Performance (as of 3/31/2017)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception8
Fund Performance *
Net Asset Value (NAV) 12.42% 12.42% 13.23% N/A N/A N/A -0.65%
After Tax Held 12.42% 12.42% 12.71% N/A N/A N/A -1.10%
After Tax Sold 7.03% 7.03% 7.46% N/A N/A N/A -0.71%
Market Price 12.37% 12.37% 13.11% N/A N/A N/A -0.69%
Index Performance **
Dorsey Wright International Focus Five Index 12.52% 12.52% 16.22% N/A N/A N/A -0.35%
MSCI All Country World ex US Index 7.86% 7.86% 13.13% N/A N/A N/A -1.29%

*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 Dorsey Wright International Focus Five 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.
Total Annual Expenses are 1.06%. Management fees are 0.30% and acquired fund fees and expenses are 0.76%.

MSCI All Country World ex US Index - The Index captures large, mid and small cap representation across 22 of 23 Developed Markets countries, excluding the United States, and 23 Emerging Markets countries.

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 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 Dorsey Wright International Focus Five Index.
7 All market capitalization numbers are in USD$ Millions.
8 Inception Date is 7/22/2014

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 Dorsey Wright International Focus Five 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 ETF 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 ETFs in which the fund invests may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.

The ETFs in which the fund invests invest in securities of non-U.S. issuers which are 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 ETFs in which the fund invests may invest in depositary receipts which may be less liquid than the underlying shares in their primary trading market.

The ETFs in which the fund invests may hold investments that are denominated in non-U.S. currencies, or in securities that provide exposure to such currencies, currency exchange rates or interest rates denominated in such currencies. Changes in currency exchange rates and the relative value of non-U.S. currencies will affect the value of the fund's investment and the value of fund shares.

The fund invests in securities of affiliated ETFs, which involves additional expenses that would not be present in a direct investment in such affiliated ETFs.

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.

The fund is not sponsored, endorsed, sold or promoted by DWA. DWA 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. DWA's only relationship to First Trust is the licensing of certain trademarks and trade names of DWA and of the index, which is determined, composed and calculated by DWA 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.
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