First Trust International Equity Opportunities ETF (FPXI)
Investment Objective/Strategy - The First Trust International Equity Opportunities ETF is an exchange-traded 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 equity index called the IPOX International Index.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The IPOX International Index is a rules based market-cap weighted index that measures the performance of the 50 largest and typically most liquid companies that are domiciled outside the U.S. within the IPOX Global Composite Index.
  • The IPOX Global Composite Index is constructed and managed to provide a broad and objective view of global aftermarket performance of recent IPOs and spin-offs in both emerging and developed countries during their first 1000 trading days.
  • After applying initial screens, all eligible constituents generally must have at least six full days of trading in order to enter the index on each rebalance.
  • All constituents of the IPOX Global Composite Index are then ranked by market capitalization and the 50 largest international companies are selected for the IPOX International Index. Constituent weights are capped at 10%.
  • The index is reconstituted and rebalanced quarterly.
Fund Overview
TickerFPXI
Fund TypeGrowth
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
CUSIP33734X853
ISINUS33734X8535
Intraday NAVFPXIIV
Fiscal Year-End09/30
ExchangeNasdaq
Inception11/4/2014
Inception Price$30.00
Inception NAV$30.00
Rebalance FrequencyQuarterly
Expense Ratio0.70%
Current Fund Data (as of 6/29/2022)
Closing NAV1$43.62
Closing Market Price2$43.46
Bid/Ask Midpoint$43.55
Bid/Ask Discount0.16%
30-Day Median Bid/Ask Spread30.34%
Total Net Assets$399,140,809
Outstanding Shares9,150,002
Daily Volume170,055
Average 30-Day Daily Volume80,391
Closing Market Price 52-Week High/Low$70.19 / $41.28
Closing NAV 52-Week High/Low$70.34 / $41.46
Number of Holdings (excluding cash)50
Top Holdings (as of 6/29/2022)*
Holding Percent
SoftBank Corp. 10.08%
Kuaishou Technology 9.06%
Li Auto Inc. (ADR) 7.48%
Saudi Arabian Oil Co. 6.55%
Meituan (Class B) 6.08%
PT GoTo Gojek Tokopedia Tbk 5.89%
Astellas Pharma Inc. 5.50%
Prosus N.V. 5.13%
Intact Financial Corporation 4.68%
Daimler Truck Holding AG 4.14%

* Excluding cash.  Holdings are subject to change.

Top Country Exposure (as of 6/29/2022)
Country Percent
China 26.22%
Japan 19.49%
Saudi Arabia 8.79%
Germany 8.36%
The Netherlands 7.28%
Indonesia 5.91%
Sweden 5.61%
Canada 5.34%
Spain 2.35%
Thailand 1.57%
NAV History (Since Inception)
Past performance is not indicative of future results.
Overall Morningstar RatingTM (as of 5/31/2022)4

Among 393 funds in the Foreign Large Growth category. This fund was rated 4 stars/393 funds (3 years), 4 stars/346 funds (5 years) based on risk adjusted returns.
Distribution Information
Dividend per Share Amt (as of 6/30/2022)5$0.2876
30-Day SEC Yield (as of 5/31/2022)61.21%
12-Month Distribution Rate (as of 5/31/2022)70.90%
Index Yield (as of 5/31/2022)81.92%
Fund Characteristics (as of 5/31/2022)10
Maximum Market Cap.$2,456,721
Median Market Cap.$13,460
Minimum Market Cap.$2,239
Price/Earnings13.67
Price/Book3.34
Price/Cash Flow10.33
Price/Sales2.78
Bid/Ask Premium/Discount (as of 6/29/2022)
  2021 Q1 2022 Q2 2022 Q3 2022
Days Traded at Premium 160 15 11 ---
Days Traded at Discount 92 47 50 ---
Top Sector Exposure (as of 6/29/2022)
Consumer Discretionary 32.06%
Communication Services 22.28%
Health Care 13.53%
Energy 7.40%
Information Technology 6.78%
Financials 6.18%
Industrials 6.10%
Utilities 4.04%
Consumer Staples 0.82%
Materials 0.81%
Hypothetical Growth of $10,000 Since Inception (as of 6/29/2022) *
Tracking Index: IPOX® International Index

Month End Performance (as of 5/31/2022)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception11
Fund Performance *
Net Asset Value (NAV) -10.45% -21.10% -31.47% 10.78% 8.77% N/A 6.76%
After Tax Held -10.45% -21.10% -31.65% 10.54% 8.42% N/A 6.33%
After Tax Sold -6.18% -12.49% -18.59% 8.31% 6.76% N/A 5.15%
Market Price -10.71% -21.00% -31.96% 10.59% 8.62% N/A 6.68%
Index Performance **
IPOX® International Index -10.27% -20.85% -30.99% 11.79% 9.68% N/A 7.60%
MSCI ACWI ex USA Index -5.46% -10.74% -12.31% 6.49% 4.42% N/A 4.18%
MSCI World ex USA Index -4.70% -10.32% -9.37% 7.15% 4.73% N/A 4.52%
Quarter End Performance (as of 3/31/2022)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception11
Fund Performance *
Net Asset Value (NAV) -15.55% -15.55% -24.82% 12.59% 12.12% N/A 7.91%
After Tax Held -15.55% -15.55% -25.01% 12.35% 11.76% N/A 7.46%
After Tax Sold -9.21% -9.21% -14.65% 9.75% 9.50% N/A 6.08%
Market Price -14.93% -14.93% -25.24% 12.69% 12.16% N/A 7.91%
Index Performance **
IPOX® International Index -14.59% -14.59% -23.72% 13.90% 13.28% N/A 8.89%
MSCI ACWI ex USA Index -5.44% -5.44% -1.48% 7.51% 6.76% N/A 5.10%
MSCI World ex USA Index -4.81% -4.81% 3.04% 8.55% 7.14% N/A 5.47%
3-Year Statistics (as of 5/31/2022)
  Standard Deviation Alpha Beta Sharpe Ratio Correlation
FPXI 21.30% 5.32 0.92 0.55 0.73
MSCI ACWI ex USA Index 16.95% --- 1.00 0.41 1.00
Standard Deviation is a measure of price variability (risk). Alpha is an indication of how much an investment outperforms or underperforms on a risk-adjusted basis relative to its benchmark.Beta is a measure of price variability relative to the market. Sharpe Ratio is a measure of excess reward per unit of volatility. Correlation is a measure of the similarity of performance.

*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 each listed 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.

MSCI ACWI ex USA Index - The Index captures large and mid and cap representation across 22 of 23 Developed Markets countries, excluding the United States, and 24 Emerging Markets countries.

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.

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 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
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
5 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.
6 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.
7 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.
8 Index yield represents the weighted average trailing 12-month dividend of the constituents of the IPOX® International Index.
9 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.
10 All market capitalization numbers are in USD$ Millions.
11 Inception Date is 11/4/2014

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.

Risk Considerations

You could lose money by investing in a fund. An investment in a fund is not a deposit of a bank and is not insured or guaranteed. There can be no assurance that a fund's objective(s) will be achieved. Investors buying or selling shares on the secondary market may incur customary brokerage commissions. Please refer to each fund's prospectus and SAI for additional details on a fund's risks. The order of the below risk factors does not indicate the significance of any particular risk factor.

Some Asian economies are highly dependent on trade with other countries and there is a high concentration of market capitalization and trading volume in a small number of Asian issuers as well as a high concentration of investors and financial intermediaries. Certain Asian countries experience expropriation and nationalization of assets, confiscatory taxation, currency manipulation, political instability, armed conflict and social instability as a result of religious, ethnic, socio-economic and/or political unrest. In particular, escalated tensions involving North Korea could have severe adverse effect on Asian economies. Recent developments between the U.S. and China have heightened concerns of increased tariffs and restrictions on trade.

Unlike mutual funds, shares of the fund 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 premium or discount to a fund's net asset value and possibly face delisting and the bid/ask spread may widen.

Changes in currency exchange rates and the relative value of non-US currencies may affect the value of a fund's investments and the value of a fund's shares.

A fund is susceptible to operational risks through breaches in cyber security. Such events could cause a fund to incur regulatory penalties, reputational damage, additional compliance costs associated with corrective measures and/or financial loss.

Depositary receipts may be less liquid than the underlying shares in their primary trading market and distributions may be subject to a fee. Holders may have limited voting rights, and investment restrictions in certain countries may adversely impact their value.

Investments in emerging market securities are generally considered speculative and involve additional risks relating to political, economic and regulatory conditions.

Equity securities may decline significantly in price over short or extended periods of time, and such declines may occur in the equity market as a whole, or they may occur in only a particular country, company, industry or sector of the market.

Political or economic disruptions in European countries, even in countries in which a fund is not invested, may adversely affect security values and thus the fund's holdings. A significant number of countries in Europe are member states in the European Union, and the member states no longer control their own monetary policies. In these member states, the authority to direct monetary policies, including money supply and official interest rates for the Euro, is exercised by the European Central Bank. The implications of the United Kingdom's withdrawal from the European Union are difficult to gauge and cannot yet be fully known.

An index fund will be concentrated in an industry or a group of industries to the extent that the index is so concentrated. A fund with significant exposure to a single asset class, or the securities of issuers within the same country, state, region, industry, or sector may have its value more affected by an adverse economic, business or political development than a broadly diversified fund.

A fund may be a constituent of one or more indices or models 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. Losses or costs associated with any index provider errors generally will be borne by a fund and its shareholders.

The stocks of companies that have recently conducted an initial public offering are often subject to price volatility and speculative trading. These stocks may have exhibited above average price appreciation in connection with the initial public offering prior to inclusion in a fund. The price of stocks included in a fund may not continue to appreciate and their performance may not replicate the performance exhibited in the past.

Market risk is the risk that a particular security, or shares of a fund in general may fall in value. Securities are subject to market fluctuations caused by such factors as general economic conditions, political events, regulatory or market developments, changes in interest rates and perceived trends in securities prices. Shares of a fund could decline in value or underperform other investments as a result. In addition, local, regional or global events such as war, acts of terrorism, spread of infectious disease or other public health issues, recessions, or other events could have significant negative impact on a fund. 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.

A fund faces numerous market trading risks, including the potential lack of an active market for fund shares due to a limited number of market makers. Decisions by market makers or authorized participants to reduce their role or step away in times of market stress could inhibit the effectiveness of the arbitrage process in maintaining the relationship between the underlying values of a fund's portfolio securities and a fund's market price.

An index fund's return may not match the return of the index for a number of reasons including operating expenses, costs of buying and selling securities to reflect changes in the index, and the fact that a fund's portfolio holdings may not exactly replicate the index.

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, lack of liquidity, 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. The fund also relies on third parties for a range of services, including custody, and any delay or failure related to those services may affect the fund's ability to meet its objective.

A fund that invests in securities included in or representative of an index will hold those securities regardless of investment merit and the fund generally will not take defensive positions in declining markets.

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

The market price of a fund's shares will generally fluctuate in accordance with changes in the fund's net asset value ("NAV") as well as the relative supply of and demand for shares on the exchange, and a fund's investment advisor cannot predict whether shares will trade below, at or above their NAV.

A fund may be unable to sell a restricted security on short notice or only sell them at a price below current value.

Securities of small- and mid-capitalization companies may experience greater price volatility and be less liquid than larger, more established companies.

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

In China, direct ownership of companies in certain sectors by foreign individuals and entities is prohibited. In order to allow for foreign investment in these businesses, many Chinese companies have created variable interest entities ("VIEs") structures to enable indirect foreign ownership. VIEs are not formally recognized under Chinese law. Intervention by the Chinese government with respect to VIEs could significantly affect the Chinese company's performance and the enforceability of the VIE's contractual arrangements that establish the links between the Chinese company and the shell company in which the Fund invests. VIEs are also subject to the investment risks associated with the underlying Chinese issuer or operating company. Chinese companies are not subject to the same degree of regulatory requirements or accounting standards and oversight as companies in more developed countries. As a result, information about the Chinese securities and VIEs in which the Fund invests may be less reliable and incomplete.

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.

IPOX® and IPOX® International Index are registered international trademarks and service marks of IPOX® Schuster LLC (“IPOX”) and have been licensed for use by First Trust. The Fund is not sponsored, endorsed, sold or promoted by IPOX, and IPOX makes no representation regarding the advisability of trading in such Fund.

©2022 Morningstar, Inc. All Rights Reserved. The Morningstar RatingTM information contained herein: (1) is proprietary to Morningstar;(2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value