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Target VIP, 2nd Qtr 2019  Ticker: FUORAX
 
Description
This unit investment trust seeks above-average total return; however, there is no assurance the objective will be met. The portfolio provides you with the convenience of owning six distinct strategies in one investment. It invests in a fixed portfolio of stocks which are selected by applying pre-determined screens and factors.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: VP2Q19
Portfolio Status: Secondary
Initial Offer Date: 04/10/2019
Secondary Date: 07/10/2019
Portfolio Ending Date: 07/09/2020
Tax Structure: Regulated Investment Company
Distributions: Semi-Annual
 
Initial Offer Price: $10.0000
NAV(*): $9.6375
POP(*): $9.7694
Remaining Deferred Sales Charge: $0.0450
* As of Trade Date: 08/16/2019 4:00pm ET
The Public Offering Price (POP) represents the net asset value per unit plus any applicable organization costs and sales charges. The Net Asset Value (NAV) represents the value per unit of a trust’s portfolio securities and other assets reduced by applicable deferred sales charges and other liabilities.

 Historical 12-Month Distribution of Trust Holdings:^
Rate (as of 8/16/2019) Per Unit (as of 8/16/2019)
1.87% $0.18310
^There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The historical 12-month distribution per unit and historical 12-month distribution rate of the securities included in the trust are for illustrative purposes only and are not indicative of the trust's distribution or distribution rate. The historical 12-month distribution per unit is based on the weighted average of the trailing twelve month distributions paid by the securities included in the portfolio. The historical 12-month distribution rate is calculated by dividing the historical 12-month distributions by the trust's offering price. The historical 12-month distribution and rate are reduced to account for the effects of fees and expenses, which will be incurred when investing in a trust. For trusts that include funds, distributions may include realized short term capital gains, realized long-term capital gains and/or return of capital. PLEASE NOTE: For trusts that hold preferred securities, the historical distribution rate is calculated using only the holdings that have 12 months of distribution history. Any holdings without a 12 month history of dividends were excluded from the calculation. Certain of the issuers may have reduced their dividends or distributions over the prior twelve months. The distribution per unit and rate paid by the trust may be higher or lower than the amount shown above due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, or the sale of securities in the portfolio.

 Holdings Analysis Click here to Perform a Benchmark Comparison  
 Sector Weighting
Communication Services  Communication Services 4.17%
Consumer Discretionary  Consumer Discretionary 14.92%
Consumer Staples  Consumer Staples 11.97%
Energy  Energy 2.94%
Financials  Financials 10.56%
Health Care  Health Care 16.13%
Industrials  Industrials 9.12%
Information Technology  Information Technology 25.16%
Materials  Materials 0.36%
Real Estate  Real Estate 1.36%
Utilities  Utilities 2.87%
Other  Other 0.44%
 
  Large Mid Small  
Growth  57.92% 2.25% 12.80%  
Value  22.35% 0.66% 3.58%  

 Style Weighting
Large-Cap Growth 57.92%
Large-Cap Value 22.35%
Mid-Cap Growth 2.25%
Mid-Cap Value 0.66%
Small-Cap Growth 12.80%
Small-Cap Value 3.58%
Undetermined 0.44%
 Composition
U.S. Stocks 82.50%   Other 0.44%
Non-U.S. Stocks 17.06%      
The style and sector characteristics of the portfolio are determined as of 08/16/2019 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $142,733.27
Weighted Average Price/Earnings 18.10
Weighted Average Price/Book 2.82
As of 8/16/2019
All market capitalization numbers are in USD$ Millions

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolSectorStyleWeighting
 Merck & Co., Inc. MRK Health Care  Health Care Large-Cap Growth 6.59%
 Starbucks Corporation SBUX Consumer Discretionary  Consumer Discretionary Large-Cap Growth 5.38%
 PepsiCo, Inc. PEP Consumer Staples  Consumer Staples Large-Cap Growth 4.50%
 The Procter & Gamble Company PG Consumer Staples  Consumer Staples Large-Cap Growth 4.06%
 Intel Corporation INTC Information Technology  Information Technology Large-Cap Value 3.53%
 Apple Inc. AAPL Information Technology  Information Technology Large-Cap Growth 3.50%
 The Home Depot, Inc. HD Consumer Discretionary  Consumer Discretionary Large-Cap Growth 3.38%
 Cisco Systems, Inc. CSCO Information Technology  Information Technology Large-Cap Growth 2.86%
 Caterpillar Inc. CAT Industrials  Industrials Large-Cap Growth 2.82%
 Visa Inc. (Class A) V Information Technology  Information Technology Large-Cap Growth 2.26%
 Intuit Inc. INTU Information Technology  Information Technology Large-Cap Growth 2.23%
 Mastercard Incorporated MA Information Technology  Information Technology Large-Cap Growth 2.02%
 Broadcom Inc. AVGO Information Technology  Information Technology Large-Cap Growth 1.93%
 Amgen Inc. AMGN Health Care  Health Care Large-Cap Growth 1.88%
 Eli Lilly and Company LLY Health Care  Health Care Large-Cap Growth 1.57%
 American Tower Corporation AMT Real Estate  Real Estate Large-Cap Growth 1.36%
 Aon Plc AON Financials  Financials Large-Cap Growth 1.30%
 CSX Corporation CSX Industrials  Industrials Large-Cap Value 1.14%
 Alphabet Inc. (Class A) GOOGL Communication Services  Communication Services Large-Cap Value 1.00%
 Zurich Insurance Group AG ZURN.SW Financials  Financials Large-Cap Value 0.96%
 O'Reilly Automotive, Inc. ORLY Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.90%
 Endesa, S.A. ELE.SM Utilities  Utilities Large-Cap Value 0.86%
 Swiss Re AG SREN.SW Financials  Financials Large-Cap Value 0.86%
 Vodafone Group Plc VOD.LN Communication Services  Communication Services Large-Cap Value 0.85%
 Xilinx, Inc. XLNX Information Technology  Information Technology Large-Cap Growth 0.84%
 H & M Hennes & Mauritz AB HMB.SS Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.83%
 Casella Waste Systems, Inc. CWST Industrials  Industrials Small-Cap Growth 0.83%
 Engie S.A. ENGI.FP Utilities  Utilities Large-Cap Value 0.83%
 National Grid Plc NG/.LN Utilities  Utilities Large-Cap Value 0.81%
 British American Tobacco Plc BATS.LN Consumer Staples  Consumer Staples Large-Cap Value 0.77%
 AXA S.A. CS.FP Financials  Financials Large-Cap Value 0.77%
 BNP Paribas S.A. BNP.FP Financials  Financials Large-Cap Value 0.76%
 VeriSign, Inc. VRSN Information Technology  Information Technology Large-Cap Growth 0.76%
 Credit Agricole S.A. ACA.FP Financials  Financials Large-Cap Value 0.75%
 AutoZone, Inc. AZO Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.74%
 Discover Financial Services DFS Financials  Financials Large-Cap Value 0.74%
 HSBC Holdings Plc HSBA.LN Financials  Financials Large-Cap Value 0.72%
 Sampo Oyj (Class A) SAMPO.FH Financials  Financials Large-Cap Value 0.72%
 U.S. Physical Therapy, Inc. USPH Health Care  Health Care Small-Cap Growth 0.71%
 Royal Dutch Shell Plc (Class B) RDSB.LN Energy  Energy Large-Cap Value 0.71%
 Waste Management, Inc. WM Industrials  Industrials Large-Cap Growth 0.70%
 Intesa Sanpaolo SpA ISP.IM Financials  Financials Large-Cap Value 0.70%
 Cardiovascular Systems, Inc. CSII Health Care  Health Care Small-Cap Growth 0.70%
 Baxter International Inc. BAX Health Care  Health Care Large-Cap Growth 0.67%
 Imperial Brands Plc IMB.LN Consumer Staples  Consumer Staples Large-Cap Value 0.64%
 ICF International, Inc. ICFI Industrials  Industrials Small-Cap Growth 0.64%
 ING Groep N.V. INGA.NA Financials  Financials Large-Cap Value 0.63%
 Nordea Bank Abp NDA.SS Financials  Financials Large-Cap Value 0.63%
 Cadence Design Systems, Inc. CDNS Information Technology  Information Technology Large-Cap Growth 0.62%
 Daimler AG DAI.GY Consumer Discretionary  Consumer Discretionary Large-Cap Value 0.61%
 HCA Healthcare, Inc. HCA Health Care  Health Care Large-Cap Growth 0.60%
 Denny's Corporation DENN Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.59%
 BT Group Plc BT/A.LN Communication Services  Communication Services Large-Cap Value 0.58%
 ConocoPhillips COP Energy  Energy Large-Cap Value 0.58%
 Regeneron Pharmaceuticals, Inc. REGN Health Care  Health Care Large-Cap Value 0.58%
 Huron Consulting Group Inc. HURN Industrials  Industrials Small-Cap Growth 0.57%
 Lam Research Corporation LRCX Information Technology  Information Technology Large-Cap Growth 0.56%
 NIC Inc. EGOV Information Technology  Information Technology Small-Cap Growth 0.56%
 Sleep Number Corporation SNBR Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.55%
 Universal Corporation UVV Consumer Staples  Consumer Staples Small-Cap Value 0.54%
 MSCI Inc. MSCI Financials  Financials Large-Cap Growth 0.54%
 Atkore International Group Inc. ATKR Industrials  Industrials Small-Cap Growth 0.54%
 Comcast Corporation (Class A) CMCSA Communication Services  Communication Services Large-Cap Value 0.53%
 FormFactor, Inc. FORM Information Technology  Information Technology Small-Cap Growth 0.51%
 Perficient, Inc. PRFT Information Technology  Information Technology Small-Cap Growth 0.48%
 Dollar General Corporation DG Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.48%
 Medifast, Inc. MED Consumer Staples  Consumer Staples Small-Cap Growth 0.47%
 Addus HomeCare Corporation ADUS Health Care  Health Care Small-Cap Growth 0.47%
 Gannett Co., Inc. GCI Communication Services  Communication Services Small-Cap Value 0.47%
 The Chefs' Warehouse, Inc. CHEF Consumer Staples  Consumer Staples Small-Cap Growth 0.46%
 ePlus inc. PLUS Information Technology  Information Technology Small-Cap Growth 0.44%
 Helix Energy Solutions Group, Inc. HLX Energy  Energy Small-Cap Value 0.43%
 KLA Corporation KLAC Information Technology  Information Technology Large-Cap Growth 0.39%
 NextGen Healthcare Inc. NXGN Health Care  Health Care Small-Cap Growth 0.39%
 lululemon athletica inc. LULU Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.39%
 Tactile Systems Technology, Inc. TCMD Health Care  Health Care Small-Cap Growth 0.39%
 Copart, Inc. CPRT Industrials  Industrials Mid-Cap Growth 0.37%
 Lantheus Holdings, Inc. LNTH Health Care  Health Care Small-Cap Growth 0.37%
 Ball Corporation BLL Materials  Materials Large-Cap Growth 0.36%
 Kforce Inc. KFRC Industrials  Industrials Small-Cap Growth 0.35%
 Ambac Financial Group, Inc. AMBC Financials  Financials Small-Cap Value 0.35%
 Mesa Laboratories, Inc. MLAB Health Care  Health Care Small-Cap Growth 0.34%
 Vanda Pharmaceuticals Inc. VNDA Health Care  Health Care Small-Cap Growth 0.33%
 ANI Pharmaceuticals, Inc. ANIP Health Care  Health Care Small-Cap Growth 0.33%
 Ulta Beauty, Inc. ULTA Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.33%
 The Marcus Corporation MCS Communication Services  Communication Services Small-Cap Value 0.32%
 Fiserv, Inc. FISV Information Technology  Information Technology Large-Cap Growth 0.31%
 Fastenal Company FAST Industrials  Industrials Mid-Cap Growth 0.30%
 Nanometrics Incorporated NANO Information Technology  Information Technology Small-Cap Growth 0.28%
 The Estee Lauder Companies Inc. EL Consumer Staples  Consumer Staples Large-Cap Growth 0.26%
 Argan, Inc. AGX Industrials  Industrials Small-Cap Value 0.26%
 Northern Oil and Gas, Inc. NOG Energy  Energy Small-Cap Value 0.26%
 W&T Offshore, Inc. WTI Energy  Energy Small-Cap Growth 0.25%
 TPI Composites, Inc. TPIC Industrials  Industrials Small-Cap Growth 0.25%
 Fair Isaac Corporation FICO Information Technology  Information Technology Mid-Cap Growth 0.24%
 Photronics, Inc. PLAB Information Technology  Information Technology Small-Cap Value 0.24%
 Booz Allen Hamilton Holding Corporation BAH Information Technology  Information Technology Mid-Cap Growth 0.22%
 Malibu Boats, Inc. (Class A) MBUU Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.22%
 Waters Corporation WAT Health Care  Health Care Mid-Cap Growth 0.21%
 Heidrick & Struggles International, Inc. HSII Industrials  Industrials Small-Cap Value 0.21%
 Cable One, Inc. CABO Communication Services  Communication Services Mid-Cap Growth 0.21%
 Garmin Ltd. GRMN Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.20%
 Ciena Corporation CIEN Information Technology  Information Technology Mid-Cap Value 0.19%
 California Water Service Group CWT Utilities  Utilities Small-Cap Growth 0.19%
 EPAM Systems, Inc. EPAM Information Technology  Information Technology Mid-Cap Growth 0.19%
 California Resources Corporation CRC Energy  Energy Small-Cap Growth 0.19%
 Black Hills Corporation BKH Utilities  Utilities Mid-Cap Value 0.18%
 Penn Virginia Corporation PVAC Energy  Energy Small-Cap Value 0.18%
 Gildan Activewear Inc. GIL Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.17%
 Renewable Energy Group, Inc. REGI Energy  Energy Small-Cap Value 0.17%
 Inter Parfums, Inc. IPAR Consumer Staples  Consumer Staples Small-Cap Growth 0.15%
 Shoe Carnival, Inc. SCVL Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.15%
 Robert Half International Inc. RHI Industrials  Industrials Mid-Cap Growth 0.14%
 Shenandoah Telecommunications Company SHEN Communication Services  Communication Services Small-Cap Growth 0.13%
 The Kroger Co. KR Consumer Staples  Consumer Staples Mid-Cap Value 0.12%
 Greenhill & Co., Inc. GHL Financials  Financials Small-Cap Growth 0.12%
 Devon Energy Corporation DVN Energy  Energy Mid-Cap Value 0.10%
 Electronic Arts Inc. EA Communication Services  Communication Services Large-Cap Value 0.08%
 Cabot Oil & Gas Corporation COG Energy  Energy Mid-Cap Value 0.07%
 Nordea Bank Abp NDA.FH Financials  Financials Large-Cap Value 0.01%
 
Total Number of Holdings:    120
Underlying Securities information represented above is as of 08/16/2019 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.04500 July 19, 2019
$0.04500 August 20, 2019
$0.04500 September 20, 2019

Risk Considerations

Equity Risk. An investment in a portfolio containing common stocks is subject to certain risks, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market.

Sector Concentration Risk. A portfolio which is concentrated in an individual sector is subject to additional risks, including limited diversification.

Consumer Products Risk. The companies engaged in the consumer products sector are subject to global competition, changing government regulations and trade policies, currency fluctuations, and the financial and political risks inherent in producing products for foreign markets.

Foreign Securities Risk. An investment in securities of foreign issuers should be made with an understanding of the additional risks involved, such as currency fluctuations, political risk, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers.

Small-Cap and Mid-Cap Risk. An investment in a portfolio containing small-cap and mid-cap companies is subject to additional risks, as the share prices of small-cap companies and certain mid-cap companies are often more volatile than those of larger companies due to several factors, including limited trading volumes, products, financial resources, management inexperience and less publicly available information.

Term Risk - 15 months. Although this unit investment trust terminates in approximately 15 months, the strategy is long-term. Investors should consider their ability to pursue investing in successive portfolios, if available. There may be tax consequences unless units are purchased in an IRA or other qualified plan.

Volatility Risk. The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers.

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

All data used for the sector and style classification comparisons is from Bloomberg Finance L.P, which we believe to be reliable, but do not take responsibility for its accuracy.

The style and capitalization characteristics used to describe the stocks are designed to help you understand how they fit into your overall investment plan. Due to changes in the value of the stocks the characteristics may vary over time. In general, growth stocks have high relative price-to-book ratios while value stocks have low relative price-to-book ratios. In determining market capitalization characteristics, we analyze the market capitalizations of the 3,000 largest stocks in the U.S. (excluding foreign securities, ADRs, limited partnerships and regulated investment companies) on a monthly basis. Companies with market capitalizations among the largest 10% are considered Large-Cap securities, the next 20% are considered Mid-Cap securities and the remaining securities are considered Small-Cap securities.

You should carefully consider the trust's investment objectives, risks, and charges and expenses before investing. Contact your financial advisor or call First Trust Portfolios, L.P. at 1.800.621.1675 to request a prospectus, which contains this and other information about the trust. Read it carefully before you invest.

This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state to any person to whom it is not lawful to make such an offer. Sales of any of these securities must include prospectus delivery and the services of a retail broker/dealer duly licensed in the appropriate states.

Not FDIC Insured, Not Bank Guaranteed and May Lose Value.

The Dow Jones Industrial Average is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by First Trust Portfolios L.P. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by First Trust Portfolios L.P. This product is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product nor do they have any liability for any errors, omissions, or interruptions of the Dow Jones Industrial Average.

The Nasdaq 100®, Nasdaq 100 Index®, and Nasdaq® are trade or service marks of Nasdaq, Inc. (which with its affiliates are the Corporations) and are licensed for use by First Trust Portfolios L.P. The portfolio has not been passed on by the Corporations as to its legality or suitability. The portfolio is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PORTFOLIO.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by First Trust Portfolios L.P. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by First Trust Portfolios L.P. This product is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

"Value Line", "The Value Line Investment Survey", and "Timeliness" are trademarks or registered trademarks of Value Line, Inc. ("Value Line") and have been licensed for use for certain purposes by First Trust Portfolios L.P. This product is not sponsored, endorsed, recommended, sold or promoted by Value Line and Value Line makes no representation regarding the advisability of investing in products utilizing such strategy. First Trust Portfolios L.P. is not affiliated with any Value Line company.

Fund Cusip Information
30297W389 (Cash)
30297W397 (Reinvest)
30297W405 (Cash-Fee)
30297W413 (Reinvest-Fee)
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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 advisors 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.
First Trust Advisors L.P.
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