First Trust Horizon Managed Volatility Small/Mid ETF (HSMV)
Holdings of the Fund as of 11/20/2025

Total Number of Holdings (excluding cash): 150

Security Name Identifier CUSIP Classification Shares / Quantity Market Value Weighting Descending sort
Ellington Financial Inc. EFC 28852N109 Financials 33,970 $464,030.20 1.75%
New Jersey Resources Corporation NJR 646025106 Utilities 9,224 $443,120.96 1.68%
OGE Energy Corp. OGE 670837103 Utilities 9,711 $428,546.43 1.62%
Four Corners Property Trust, Inc. FCPT 35086T109 Real Estate 17,773 $419,087.34 1.58%
Gaming and Leisure Properties, Inc. GLPI 36467J108 Real Estate 9,602 $411,061.62 1.55%
Starwood Property Trust, Inc. STWD 85571B105 Financials 23,007 $403,542.78 1.53%
IDACORP, Inc. IDA 451107106 Utilities 3,020 $382,845.40 1.45%
Agree Realty Corporation ADC 008492100 Real Estate 4,928 $363,144.32 1.37%
Annaly Capital Management, Inc. NLY 035710839 Financials 15,995 $345,811.90 1.31%
Ingredion Incorporated INGR 457187102 Consumer Staples 3,177 $339,271.83 1.28%
Graco Inc. GGG 384109104 Industrials 4,127 $328,839.36 1.24%
Old Republic International Corporation ORI 680223104 Financials 7,298 $328,993.84 1.24%
LTC Properties, Inc. LTC 502175102 Real Estate 8,799 $314,476.26 1.19%
Service Corporation International SCI 817565104 Consumer Discretionary 3,960 $310,820.40 1.18%
Post Holdings, Inc. POST 737446104 Consumer Staples 2,896 $310,103.68 1.17%
MSA Safety Incorporated MSA 553498106 Industrials 1,975 $302,056.50 1.14%
Black Hills Corporation BKH 092113109 Utilities 4,070 $284,859.30 1.08%
W.P. Carey Inc. WPC 92936U109 Real Estate 4,291 $284,407.48 1.08%
Balchem Corporation BCPC 057665200 Materials 1,857 $283,601.04 1.07%
Donaldson Company, Inc. DCI 257651109 Industrials 3,330 $282,950.10 1.07%
Assured Guaranty Ltd. AGO G0585R106 Financials 3,140 $276,477.00 1.05%
AptarGroup, Inc. ATR 038336103 Materials 2,329 $276,172.82 1.04%
WD-40 Company WDFC 929236107 Consumer Staples 1,375 $271,562.50 1.03%
Phillips Edison & Company, Inc. PECO 71844V201 Real Estate 7,755 $269,059.74 1.02%
Enact Holdings, Inc. ACT 29249E109 Financials 7,021 $267,851.15 1.01%
Avista Corporation AVA 05379B107 Utilities 6,478 $264,496.74 1.00%
Dolby Laboratories, Inc. DLB 25659T107 Information Technology 4,049 $265,249.99 1.00%
RLI Corp. RLI 749607107 Financials 4,092 $262,133.52 0.99%
NNN REIT Inc. NNN 637417106 Real Estate 6,389 $258,115.60 0.98%
FTI Consulting, Inc. FCN 302941109 Industrials 1,555 $251,941.10 0.95%
US Foods Holding Corp. USFD 912008109 Consumer Staples 3,546 $248,397.30 0.94%
Portland General Electric Company POR 736508847 Utilities 4,906 $241,375.20 0.91%
Reynolds Consumer Products Inc. REYN 76171L106 Consumer Staples 10,119 $240,123.87 0.91%
Encompass Health Corporation EHC 29261A100 Health Care 2,095 $236,295.05 0.89%
DT Midstream, Inc. DTM 23345M107 Energy 1,933 $224,904.55 0.85%
Essent Group Ltd. ESNT G3198U102 Financials 3,597 $221,611.17 0.84%
The Hanover Insurance Group, Inc. THG 410867105 Financials 1,235 $223,041.00 0.84%
Antero Midstream Corp. AM 03676B102 Energy 12,423 $219,762.87 0.83%
Madison Square Garden Sports Corp. (Class A) MSGS 55825T103 Communication Services 1,027 $219,490.44 0.83%
Crown Holdings, Inc. CCK 228368106 Materials 2,264 $217,049.68 0.82%
CSG Systems International, Inc. CSGS 126349109 Industrials 2,797 $217,103.14 0.82%
AECOM ACM 00766T100 Industrials 2,026 $215,039.64 0.81%
Blackstone Mortgage Trust, Inc. (Class A) BXMT 09257W100 Financials 11,741 $215,095.12 0.81%
GATX Corporation GATX 361448103 Industrials 1,385 $213,276.15 0.81%
MGIC Investment Corporation MTG 552848103 Financials 7,649 $214,172.00 0.81%
SEI Investments Company SEIC 784117103 Financials 2,720 $214,363.20 0.81%
COPT Defense Properties CDP 22002T108 Real Estate 7,109 $210,710.76 0.80%
Exponent, Inc. EXPO 30214U102 Industrials 2,992 $205,161.44 0.78%
Sabra Health Care REIT, Inc. SBRA 78573L106 Real Estate 11,160 $207,018.00 0.78%
Universal Corporation UVV 913456109 Consumer Staples 3,907 $205,156.57 0.78%
American Financial Group, Inc. AFG 025932104 Financials 1,492 $204,627.80 0.77%
Granite Construction Incorporated GVA 387328107 Industrials 1,988 $203,591.08 0.77%
Armstrong World Industries, Inc. AWI 04247X102 Industrials 1,121 $202,250.82 0.76%
Clean Harbors, Inc. CLH 184496107 Industrials 959 $200,546.08 0.76%
Omega Healthcare Investors, Inc. OHI 681936100 Real Estate 4,484 $199,941.56 0.76%
NewMarket Corporation NEU 651587107 Materials 266 $197,294.86 0.75%
The Ensign Group, Inc. ENSG 29358P101 Health Care 1,074 $192,611.16 0.73%
Equity Lifestyle Properties, Inc. ELS 29472R108 Real Estate 3,073 $190,187.97 0.72%
RenaissanceRe Holdings Ltd. RNR G7496G103 Financials 724 $189,318.76 0.72%
Innoviva, Inc. INVA 45781M101 Health Care 8,889 $188,091.24 0.71%
Casey's General Stores, Inc. CASY 147528103 Consumer Staples 335 $184,665.40 0.70%
Spire Inc. SR 84857L101 Utilities 2,163 $184,698.57 0.70%
Northwest Natural Holding Company NWN 66765N105 Utilities 3,840 $182,822.40 0.69%
Performance Food Group Company PFGC 71377A103 Consumer Staples 1,936 $182,564.80 0.69%
RPM International Inc. RPM 749685103 Materials 1,773 $181,803.42 0.69%
City Holding Company CHCO 177835105 Financials 1,487 $176,759.69 0.67%
Commerce Bancshares, Inc. CBSH 200525103 Financials 3,377 $178,440.68 0.67%
ITT Inc. ITT 45073V108 Industrials 997 $178,333.39 0.67%
ARMOUR Residential REIT, Inc. ARR 042315705 Financials 10,689 $174,337.59 0.66%
Franklin Electric Co., Inc. FELE 353514102 Industrials 1,919 $174,782.52 0.66%
Warner Music Group Corp. (Class A) WMG 934550203 Communication Services 5,921 $175,794.49 0.66%
Prosperity Bancshares, Inc. PB 743606105 Financials 2,603 $171,850.06 0.65%
Innospec Inc. IOSP 45768S105 Materials 2,385 $168,428.70 0.64%
Arrow Electronics, Inc. ARW 042735100 Information Technology 1,627 $165,742.49 0.63%
Avnet, Inc. AVT 053807103 Information Technology 3,732 $165,588.84 0.63%
Essential Properties Realty Trust, Inc. EPRT 29670E107 Real Estate 5,398 $166,636.26 0.63%
Autoliv, Inc. ALV 052800109 Consumer Discretionary 1,457 $164,189.33 0.62%
Genpact Limited G G3922B107 Industrials 3,744 $163,725.12 0.62%
Radian Group Inc. RDN 750236101 Financials 4,670 $163,169.80 0.62%
Reliance Inc. RS 759509102 Materials 619 $165,235.86 0.62%
Korn Ferry KFY 500643200 Industrials 2,571 $160,867.47 0.61%
NMI Holdings, Inc. (Class A) NMIH 629209305 Financials 4,295 $160,160.55 0.61%
Prestige Consumer Healthcare Inc. PBH 74112D101 Health Care 2,715 $160,646.55 0.61%
Primerica, Inc. PRI 74164M108 Financials 616 $161,127.12 0.61%
Flowers Foods, Inc. FLO 343498101 Consumer Staples 15,011 $157,465.39 0.60%
H&R Block, Inc. HRB 093671105 Consumer Discretionary 3,677 $159,324.41 0.60%
MSC Industrial Direct Co., Inc. (Class A) MSM 553530106 Industrials 1,905 $159,086.55 0.60%
ABM Industries Incorporated ABM 000957100 Industrials 3,758 $156,520.70 0.59%
Morningstar, Inc. MORN 617700109 Financials 729 $152,521.38 0.58%
The Marzetti Company MZTI 513847103 Consumer Staples 888 $152,505.12 0.58%
American Homes 4 Rent (Class A) AMH 02665T306 Real Estate 4,675 $149,600.00 0.57%
Chemed Corporation CHE 16359R103 Health Care 352 $151,124.16 0.57%
Choice Hotels International, Inc. CHH 169905106 Consumer Discretionary 1,744 $151,710.56 0.57%
Silgan Holdings Inc. SLGN 827048109 Materials 3,920 $150,802.40 0.57%
Sonoco Products Company SON 835495102 Materials 3,798 $151,046.46 0.57%
Hilltop Holdings Inc. HTH 432748101 Financials 4,481 $148,365.91 0.56%
The New York Times Company (Class A) NYT 650111107 Communication Services 2,337 $148,469.61 0.56%
Albertsons Companies, Inc. (Class A) ACI 013091103 Consumer Staples 8,136 $142,949.52 0.54%
MAXIMUS, Inc. MMS 577933104 Industrials 1,754 $143,933.24 0.54%
BJ's Wholesale Club Holdings, Inc. BJ 05550J101 Consumer Staples 1,528 $138,421.52 0.52%
Chesapeake Utilities Corporation CPK 165303108 Utilities 1,005 $137,574.45 0.52%
Churchill Downs Incorporated CHDN 171484108 Consumer Discretionary 1,309 $136,639.99 0.52%
Fidelity National Financial, Inc. FNF 31620R303 Financials 2,399 $137,654.62 0.52%
ONE Gas, Inc. OGS 68235P108 Utilities 1,636 $133,890.24 0.51%
CNO Financial Group, Inc. CNO 12621E103 Financials 3,312 $131,718.24 0.50%
J & J Snack Foods Corp. JJSF 466032109 Consumer Staples 1,463 $133,410.97 0.50%
American States Water Company AWR 029899101 Utilities 1,806 $129,797.22 0.49%
Landstar System, Inc. LSTR 515098101 Industrials 1,063 $129,165.13 0.49%
FirstCash Holdings, Inc. FCFS 33768G107 Financials 863 $127,767.15 0.48%
MGE Energy, Inc. MGEE 55277P104 Utilities 1,572 $127,426.32 0.48%
Reinsurance Group of America, Incorporated RGA 759351604 Financials 688 $127,149.28 0.48%
First American Financial Corporation FAF 31847R102 Financials 1,990 $124,792.90 0.47%
Hexcel Corporation HXL 428291108 Industrials 1,763 $124,379.65 0.47%
Affiliated Managers Group, Inc. AMG 008252108 Financials 482 $121,907.44 0.46%
KBR, Inc. KBR 48242W106 Industrials 3,053 $121,448.34 0.46%
Gentex Corporation GNTX 371901109 Consumer Discretionary 5,511 $120,305.13 0.45%
Graphic Packaging Holding Company GPK 388689101 Materials 7,746 $117,506.82 0.44%
Grand Canyon Education, Inc. LOPE 38526M106 Consumer Discretionary 704 $111,147.52 0.42%
Essential Utilities, Inc. WTRG 29670G102 Utilities 2,297 $88,824.99 0.34%
National Fuel Gas Company NFG 636180101 Utilities 1,045 $84,310.60 0.32%
California Water Service Group CWT 130788102 Utilities 1,528 $67,812.64 0.26%
US Dollar $USD Other 70,033 $70,033.27 0.26%
Elme Communities ELME 939653101 Real Estate 3,804 $64,325.64 0.24%
UGI Corporation UGI 902681105 Utilities 1,762 $61,899.06 0.23%
EPR Properties EPR 26884U109 Real Estate 1,087 $55,708.75 0.21%
CareTrust REIT, Inc. CTRE 14174T107 Real Estate 1,492 $54,025.32 0.20%
EastGroup Properties, Inc. EGP 277276101 Real Estate 303 $53,243.16 0.20%
Independence Realty Trust, Inc. IRT 45378A106 Real Estate 3,229 $54,053.46 0.20%
Brixmor Property Group Inc. BRX 11120U105 Real Estate 1,689 $43,880.22 0.17%
Southwest Gas Holdings, Inc. SWX 844895102 Utilities 544 $43,721.28 0.17%
Lamar Advertising Company LAMR 512816109 Real Estate 337 $43,065.23 0.16%
MDU Resources Group, Inc. MDU 552690109 Utilities 2,017 $41,308.16 0.16%
Otter Tail Corporation OTTR 689648103 Utilities 519 $42,018.24 0.16%
Acadia Realty Trust AKR 004239109 Real Estate 2,034 $39,968.10 0.15%
First Industrial Realty Trust, Inc. FR 32054K103 Real Estate 714 $39,469.92 0.15%
Kite Realty Group Trust KRG 49803T300 Real Estate 1,761 $39,076.59 0.15%
LXP Industrial Trust LXP 529043408 Real Estate 845 $39,030.55 0.15%
Ormat Technologies, Inc. ORA 686688102 Utilities 382 $40,709.74 0.15%
STAG Industrial, Inc. STAG 85254J102 Real Estate 1,049 $40,197.68 0.15%
Tanger Inc. SKT 875465106 Real Estate 1,216 $39,969.92 0.15%
Terreno Realty Corporation TRNO 88146M101 Real Estate 658 $39,545.80 0.15%
Cousins Properties Incorporated CUZ 222795502 Real Estate 1,511 $37,397.25 0.14%
Curbline Properties Corp. CURB 23128Q101 Real Estate 1,644 $38,157.24 0.14%
Healthcare Realty Trust Inc. HR 42226K105 Real Estate 2,156 $37,751.56 0.14%
Highwoods Properties, Inc. HIW 431284108 Real Estate 1,366 $37,127.88 0.14%
National Storage Affiliates Trust NSA 637870106 Real Estate 1,286 $36,380.94 0.14%
Rayonier Inc. RYN 754907103 Real Estate 1,746 $37,573.92 0.14%
Rexford Industrial Realty, Inc. REXR 76169C100 Real Estate 949 $38,206.74 0.14%
Urban Edge Properties UE 91704F104 Real Estate 1,970 $36,602.60 0.14%
CubeSmart CUBE 229663109 Real Estate 968 $34,489.84 0.13%
H2O America HTO 784305104 Utilities 792 $35,212.32 0.13%
Holdings are subject to change.

The holdings information set forth above for the date indicated reflects creation and redemption transactions from the prior business day and may differ from the holdings information currently available from the Fund's custodian and accounting agent. With respect to the market value of the Fund's holdings set forth above, the pricing sources are generally third party vendors. The Fund ultimately relies on pricing information provided by the Fund's accounting agent.