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First Trust International Developed Capital Strength ETF (FICS)
Investment Objective/Strategy - The First Trust International Developed Capital Strength ETF seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called The International Developed Capital Strength IndexSM. The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 90% of its net assets (including investment borrowings) in the common stocks and real estate investment trusts ("REITs") that comprise The International Developed Capital Strength IndexSM.
There can be no assurance that the Fund's investment objectives will be achieved.
  • Securities from the NASDAQ Developed ex-US Index with a minimum three-month average daily trading volume of $5 million are selected, excluding multiple share classes of the same issuer.
  • The Index then ranks the remaining securities by float-adjusted market capitalization and excludes all securities not in the top 500.
  • To be eligible for inclusion in the index, companies must:
    • have at least $500 million in cash or short-term investments.
    • have a long-term debt to market cap ratio less than 30%.
    • have a return on equity greater than 15%.
    • not currently be in bankruptcy proceedings.
    • not have entered into a definitive agreement/arrangement that would likely result in the security no longer being eligible.
  • Eligible securities are ranked by a combined short-term (three month) and long-term (12 month) realized volatility.
  • The 50 eligible securities with the lowest combined volatility score are selected for inclusion in the index.
  • A maximum weight of 30% in any one country or industry based on the Industry Classification Benchmark is allowed. If a country or industry has a weight greater than 30%, the highest ranking security by volatility will be removed and replaced with the next eligible security from a different country or industry. This process is repeated until no country or industry has a weight greater than 30%.
  • The index stocks are equally weighted initially and on each rebalancing effective date. The index is reconstituted and rebalanced semi-annually.
Fund Overview
Fund TypeInternational Equity
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBrown Brothers Harriman
Fiscal Year-End09/30
Inception Price$30.09
Inception NAV$30.09
Rebalance FrequencySemi-Annual
Expense Ratio0.70%
Current Fund Data (as of 5/20/2022)
Closing NAV1$29.93
Closing Market Price2$30.05
Bid/Ask Midpoint$29.94
Bid/Ask Premium0.03%
30-Day Median Bid/Ask Spread30.13%
Total Net Assets$32,926,926
Outstanding Shares1,100,002
Daily Volume140,129
Average 30-Day Daily Volume10,006
Closing Market Price 52-Week High/Low$36.75 / $28.43
Closing NAV 52-Week High/Low$36.69 / $29.12
Number of Holdings (excluding cash)50
Top Holdings (as of 5/20/2022)*
Holding Percent
Murata Manufacturing Co. Ltd. 2.29%
OBIC Co., Ltd. 2.27%
CGI Inc. (Class A) 2.26%
Bureau Veritas SA 2.23%
Aristocrat Leisure Limited 2.19%
CSL Limited 2.15%
Unilever Plc 2.13%
Heineken NV 2.12%
Sonic Healthcare Limited 2.12%
Alimentation Couche-Tard Inc. (Class A) 2.11%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Distribution Information
Dividend per Share Amt (as of 5/22/2022)4$0.0624
30-Day SEC Yield (as of 4/29/2022)51.29%
12-Month Distribution Rate (as of 4/29/2022)61.52%
Index Yield (as of 4/29/2022)72.32%
Fund Characteristics (as of 4/29/2022)9
Maximum Market Cap.$357,229
Median Market Cap.$32,796
Minimum Market Cap.$7,932
Price/Cash Flow13.74
Top Country Exposure (as of 5/20/2022)
Country Percent
Canada 20.34%
Switzerland 17.52%
United Kingdom 13.96%
Japan 10.18%
Australia 10.13%
France 8.07%
The Netherlands 4.13%
Germany 4.09%
Finland 4.05%
Sweden 3.50%
Bid/Ask Premium/Discount (as of 5/20/2022)
  2021 Q1 2022 Q2 2022 Q3 2022
Days Traded at Premium 237 58 33 ---
Days Traded at Discount 15 4 2 ---
Top Sector Exposure (as of 5/20/2022)
Industrials 29.57%
Financials 17.68%
Health Care 13.98%
Consumer Staples 12.14%
Technology 10.82%
Consumer Discretionary 10.11%
Energy 2.05%
Basic Materials 1.87%
Real Estate 1.78%
Hypothetical Growth of $10,000 Since Inception (as of 5/19/2022) *
Tracking Index: The International Developed Capital Strength IndexSM

Month End Performance (as of 4/29/2022)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) -7.20% -14.61% -2.83% N/A N/A N/A 3.70%
After Tax Held -7.27% -14.68% -3.37% N/A N/A N/A 3.23%
After Tax Sold -4.26% -8.65% -1.64% N/A N/A N/A 2.64%
Market Price -7.38% -14.50% -2.95% N/A N/A N/A 3.82%
Index Performance **
The International Developed Capital Strength IndexSM -5.35% -13.59% -1.25% N/A N/A N/A 5.56%
MSCI World ex USA Index -6.95% -11.06% -6.66% N/A N/A N/A 1.52%
Quarter End Performance (as of 3/31/2022)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) -9.93% -9.93% 6.19% N/A N/A N/A 8.34%
After Tax Held -9.99% -9.99% 5.60% N/A N/A N/A 7.82%
After Tax Sold -5.88% -5.88% 3.68% N/A N/A N/A 6.16%
Market Price -9.65% -9.65% 6.14% N/A N/A N/A 8.61%
Index Performance **
The International Developed Capital Strength IndexSM -9.06% -9.06% 7.72% N/A N/A N/A 10.20%
MSCI World ex USA Index -4.81% -4.81% 3.04% N/A N/A N/A 7.11%

*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 determined by using the midpoint of the national best bid offer price ("NBBO") 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 International Developed Capital Strength IndexSM 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.

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 market 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 The median bid-ask spread is calculated by identifying the national best bid and national best offer ("NBBO") for the fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.
4 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.
5 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.
6 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.
7 Index yield represents the weighted average trailing 12-month dividend of the constituents of The International Developed Capital Strength Index(SM).
8 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.
9 All market capitalization numbers are in USD$ Millions.
10 Inception Date is 12/15/2020

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.

Risk Considerations

A fund's return may not match the return of its underlying index. A fund invests in securities included in the index regardless of investment merit and the securities held by a 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 a fund by authorized participants in very large creation/redemption units. If a 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 a fund's net asset value and possibly face delisting.

A fund's shares will change in value, and you could lose money by investing in a fund. One of the principal risks of investing in a fund is market risk. Market risk is the risk that a particular stock owned by a fund, fund shares or stocks in general may fall in value. There can be no assurance that a fund's investment objective will be achieved. In February 2022, Russia invaded Ukraine which has caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain fund investments as well as fund performance. The COVID-19 global pandemic has caused and may continue to cause significant volatility and declines in global financial markets. While the U.S. has resumed “reasonably” normal business activity, many countries continue to impose lockdown measures. Additionally, there is no guarantee that vaccines will be effective against emerging variants of the disease.

As the use of Internet technology has become more prevalent in the course of business, funds have become more susceptible to potential operational risks through breaches in cyber security.

A fund may be a constituent of one or more indices which could greatly affect a fund's trading activity, size and volatility.

There is no assurance that the index provider or its agents will compile or maintain the index accurately.

As inflation increases, the present value of the Fund's assets and distributions may decline.

Because securities held by a fund that trade on non-US exchanges which are not open when the primary listing exchange is open, there are likely to be deviations between the current price of an underlying security and the last quoted price for the underlying security resulting in premiums or discounts to a fund's net asset value that may be greater than other ETFs.

Large capitalization companies may grow at a slower rate than the overall market.

A portfolio comprised of low volatility stocks may not produce investment exposure that has lower variability to changes in such stocks' price levels. Low volatility stocks are likely to underperform the broader market during periods of rapidly rising stock prices.

Large inflows and outflows may impact a new fund's market exposure for limited periods of time.

A fund classified as "non-diversified" may invest a relatively high percentage of its assets in a limited number of issuers. As a result, a 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.

Securities of non-U.S. issuers 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.

A fund and a fund's advisor may seek to reduce various operational risks through controls and procedures, but it is not possible to completely protect against such risks

High portfolio turnover may result in higher levels of transaction costs and may generate greater tax liabilities for shareholders.

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

A fund with significant exposure to a single asset class, country, region, industry, or sector may be more affected by an adverse economic or political development than a broadly diversified fund.

Trading on the exchange may be halted due to market conditions or other reasons. There can be no assurance that the requirements to maintain the listing of a fund on the exchange will continue to be met or be unchanged.

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® and The International Developed Capital Strength Index℠ are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. 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
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, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
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