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International Multi-Asset Diversified Income Index Fund (YDIV)
Investment Objective/Strategy - The International Multi-Asset Diversified Income Index Fund is an exchange-traded index 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 index called the NASDAQ International Multi-Asset Diversified Income Index (the "Index").
There can be no assurance that the Fund's investment objectives will be achieved.
  • The fund will normally invest at least 90% of its net assets (plus the amount of any borrowings for investment purposes) in non-U.S. dividend paying equity securities and/or depositary receipts (25%), non-U.S. real estate investment trusts ("REITs") (20%), non-U.S. preferred securities (20%), non-U.S. infrastructure companies (20%), and an exchange-traded fund ("ETF") that invests in non-U.S. fixed-income securities (15%), all of which comprise the index (each an "index segment"). The percentages provided reflect the approximate percentages of each of the index segments included in the index as of each quarterly rebalance. The percentages will vary from these amounts between rebalances of the index.
  • Each segment has its own set of eligibility criteria.
  • Every security in the index meets stringent eligibility criteria based on liquidity, size, volatility and yield.
  • The index is rebalanced quarterly.
Fund Overview
TickerYDIV
Fund TypeMulti Asset Income
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBrown Brothers Harriman
CUSIP33738R209
Intraday NAVYDIVIV
Fiscal Year-End09/30
ExchangeNASDAQ Stock Market
Inception8/22/2013
Inception Price$20.00
Inception NAV$19.97
Rebalance FrequencyQuarterly
Expense Ratio0.70%
Acquired fund fees and expenses of 0.01% are excluded from the Expense Ratio.
Current Fund Data (as of 10/29/2014)
Closing NAV1$20.12
Closing Share Price2$20.35
Bid/Ask Midpoint$20.28
Bid/Ask Premium0.82%
Total Net Assets$13,075,360
Outstanding Shares650,002
Daily Volume268
Average 30-Day Daily Volume5,485
Closing Share Price 52-Week High/Low$22.06 / $19.34
Closing NAV 52-Week High/Low$21.56 / $19.40
Number of Holdings125
Fund Characteristics (as of 9/30/2014)7
Median Market Cap.$4,879
Maximum Market Cap.$206,326
Minimum Market Cap.$611
Price/Earnings10.67
Price/Book1.41
Price/Cash Flow7.95
Price/Sales1.45
Top Holdings (as of 10/29/2014)
Holding Percent
iShares JPMorgan USD Emerging Markets Bond ETF 15.84%
BP Prudhoe Bay Royalty Trust 1.66%
San Miguel Corp, Series 2A, 7.50% Variable Rate 1.36%
Lloyds Banking Group Plc, 9.25% 1.21%
National Westminster Bank Plc, Series A, 9% 1.17%
Standard Bank Group Ltd, Variable rate 1.11%
Redefine Properties Limited 1.06%
Cominar Real Estate Investment Trust 1.04%
Dream Office Real Estate Investment Trust 1.04%
Permian Basin Royalty Trust 1.04%

Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Distribution Information
Dividend per Share Amt3$0.0817
30-Day SEC Yield (as of 9/30/2014)44.22%
12-Month Distribution Rate (as of 9/30/2014)56.76%
Index Yield (as of 9/30/2014)65.62%
Bid/Ask Midpoint vs. NAV (as of 9/30/2014)
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
9/30/2014 2 31 30 0
6/30/2014 10 29 15 1
3/31/2014 20 12 2 1
12/31/2013 15 17 8 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
9/30/2014 1 0 0 0
6/30/2014 8 0 0 0
3/31/2014 13 12 1 0
12/31/2013 19 5 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.

Fund Composition (as of 10/29/2014)
Dividend Paying Equities 30.20%
Preferred Securities 19.15%
REITs 19.02%
Fixed Income ETFs 16.68%
Infrastructure Companies 12.34%
Other 2.61%
Month End Performance (as of 9/30/2014)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception8
Fund Performance *
NAV -5.66% 2.69% 3.93% N/A N/A N/A 7.09%
After Tax Held -6.05% 1.19% 1.03% N/A N/A N/A 4.23%
After Tax Sold -3.20% 1.54% 2.22% N/A N/A N/A 4.11%
Market Price -5.83% 4.38% 4.61% N/A N/A N/A 7.86%
Index Performance **
NASDAQ Multi-Asset Income ex US Index -5.47% 3.74% 5.45% N/A N/A N/A 8.92%
Dow Jones EPAC Select Dividend Index -9.15% -1.14% 3.86% N/A N/A N/A 9.08%
MSCI World Index Ex-US -5.74% -0.66% 4.86% N/A N/A N/A 9.02%
Quarter End Performance (as of 9/30/2014)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception8
Fund Performance *
NAV -5.66% 2.69% 3.93% N/A N/A N/A 7.09%
After Tax Held -6.05% 1.19% 1.03% N/A N/A N/A 4.23%
After Tax Sold -3.20% 1.54% 2.22% N/A N/A N/A 4.11%
Market Price -5.83% 4.38% 4.61% N/A N/A N/A 7.86%
Index Performance **
NASDAQ Multi-Asset Income ex US Index -5.47% 3.74% 5.45% N/A N/A N/A 8.92%
Dow Jones EPAC Select Dividend Index -9.15% -1.14% 3.86% N/A N/A N/A 9.08%
MSCI World Index Ex-US -5.74% -0.66% 4.86% N/A N/A N/A 9.02%

*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 NASDAQ Multi-Asset Income ex US 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 0.70%.

The Dow Jones EPAC Select DividendTM Index consists of high dividend paying companies in the EPAC (Europe, Pacific, Asia and Canada) region, which covers developed markets excluding the United States.

The MSCI World Index Ex-U.S. 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.

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 NASDAQ Multi-Asset Income ex US Index
7 All market capitalization numbers are in USD$ Millions.
8 Inception Date is 8/22/2013

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 NASDAQ Multi-Asset Income ex US 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.

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 security owned by the fund, fund shares or securities 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 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.

REITs are subject to certain risks, including changes in the real estate market, vacancy rates and competition, volatile interest rates and economic recession.

Infrastructure companies are subject to certain risks, including price and supply fluctuations caused by international politics, energy conservation, taxes, price controls, and other regulatory policies of various governments.

Preferred securities combine some of the characteristics of both common stocks and bonds. Preferred securities are typically subordinated to bonds and other debt instruments in a company's capital structure, in terms of priority to corporate income, and therefore will be subject to greater credit risk than those debt instruments. Preferred securities are also subject to credit risk, interest rate risk and income risk.

Because the fund invests in exchange-traded funds that invest in fixed income securities, it is subject to additional risks pertaining to interest rates and credit risk. Credit risk may be heightened if the fund invests in "high yield" or "junk" debt. High-yield securities are subject to greater market fluctuations and risk of loss than securities with higher ratings, and therefore, may be highly speculative. These securities are issued by companies that may have limited operating history, narrowly focused operations, and/or other impediments to the timely payment of periodic interest and principal at maturity. The market for high-yield securities is smaller and less liquid than that for investment grade securities.

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.

Nasdaq®, OMX®, Nasdaq OMX® and NASDAQ International Multi-Asset Diversified Income IndexSM are registered trademarks and service marks of The NASDAQ OMX Group, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by First Trust Advisors L.P. The fund has not been passed on by the Corporations as to its legality or suitability. The fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value
 
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