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Diversified Fixed Income ETF, 38  Ticker: FYARTX
 
Description
A unit investment trust which seeks current monthly income and diversification across fixed income securities by investing in a broad range of exchange-traded funds which are further diversified among U.S. and foreign taxable fixed income securities of various maturities and credit quality.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: DIFI38
Portfolio Status: Secondary
Initial Offer Date: 04/11/2019
Secondary Date: 05/13/2019
Portfolio Ending Date: 07/16/2020
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $9.9266
POP(*): $10.0625
Remaining Deferred Sales Charge: $0.1350
* As of Trade Date: 07/16/2019 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 7/16/2019) Per Unit (as of 7/15/2019)
3.70% $0.37230
^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  Export Current Holdings | View Initial Holdings  
NameSymbolWeighting
 Vanguard Long-Term Corporate Bond ETF VCLT 4.65%
 iShares Long-Term Corporate Bond ETF IGLB 4.64%
 iShares Intermediate-Term Corporate Bond ETF IGIB 4.56%
 SPDR Bloomberg Barclays High Yield Bond ETF JNK 4.44%
 First Trust Tactical High Yield ETF HYLS 4.44%
 Invesco Senior Loan ETF BKLN 4.40%
 SPDR Blackstone/GSO Senior Loan ETF SRLN 4.40%
 Highland/iBoxx Senior Loan ETF SNLN 4.37%
 iShares JPMorgan USD Emerging Markets Bond ETF EMB 4.05%
 Schwab U.S. TIPS ETF SCHP 4.02%
 SPDR Bloomberg Barclays TIPS ETF IPE 4.00%
 SPDR Wells Fargo Preferred Stock ETF PSK 3.99%
 Vanguard Mortgage-Backed Securities ETF VMBS 3.98%
 SPDR Bloomberg Barclays Mortgage Backed Bond ETF MBG 3.98%
 First Trust Low Duration Opportunities ETF LMBS 3.97%
 iShares iBoxx $ High Yield Corporate Bond ETF HYG 3.94%
 First Trust Senior Loan Fund FTSL 3.91%
 SPDR Portfolio Long Term Corporate Bond ETF SPLB 3.62%
 iShares 7-10 Year Treasury Bond ETF IEF 3.56%
 PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund CORP 3.54%
 SPDR Bloomberg Barclays Emerging Markets Local Bond ETF EBND 3.54%
 SPDR Portfolio Intermediate Term Corporate Bond ETF SPIB 3.51%
 First Trust Preferred Securities and Income ETF FPE 3.51%
 iShares International Aggregate Bond ETF IAGG 3.51%
 Vanguard Short-Term Inflation-Protected Securities Index Fund VTIP 3.47%
 
Total Number of Holdings:    25
Underlying Securities information represented above is as of 07/15/2019 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

Emerging Markets Risk. Risks associated with investing in foreign securities may be more pronounced in emerging markets where the securities markets are substantially smaller, less liquid, less regulated and more volatile than the U.S. and developed foreign markets.

ETF Risk. ETFs are subject to various risks, including management's ability to meet the fund's investment objective, and to manage the fund's portfolio when the underlying securities are redeemed or sold, during periods of market turmoil and as investors' perceptions regarding ETFs or their underlying investments change. Unlike open-end funds, which trade at prices based on a current determination of the fund's net asset value, ETFs frequently trade at a discount from their net asset value in the secondary market. Certain ETFs may employ the use of leverage, which increases the volatility of such funds.

Floating Rate Risk. Certain of the funds invest in floating-rate securities. A floating-rate security is an instrument in which the interest rate payable on the obligation fluctuates on a periodic basis based upon changes in an interest rate benchmark. As a result, the yield on such a security will generally decline in a falling interest rate environment, causing the trust to experience a reduction in the income it receives from such securities.

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.

High-Yield or Junk Bonds Risk. Investing in high-yield securities or "junk" bonds should be viewed as speculative and you should review your ability to assume the risks associated with investments which utilize such securities. High-yield securities are subject to numerous risks, including higher interest rates, economic recession, deterioration of the junk bond market, possible downgrades and defaults of interest and/or principal. High-yield security prices tend to fluctuate more than higher rated securities and are affected by short-term credit developments to a greater degree.

Investment Grade Bonds Risk. Investment grade securities are subject to numerous risks including higher interest rates, economic recession, deterioration of the investment grade security market or investors' perception thereof, possible downgrades and defaults of interest and/or principal.

Mortgage-Backed Securities Risk. Rising interest rates tend to extend the duration of mortgage-backed securities, making them more sensitive to changes in interest rates, and may reduce the market value of the securities. In addition, mortgage-backed securities are subject to prepayment risk, the risk that borrowers may pay off their mortgages sooner than expected, particularly when interest rates decline.

Senior Loans Risk. The yield on senior loans will generally decline in a falling interest rate environment and increase in a rising interest rate environment. Senior loans are generally below investment grade quality ("junk" bonds). An investment in senior loans involves the risk that the borrowers may default on their obligations to pay principal or interest when due.

Term Risk - 14 months. Although this unit investment trust terminates in approximately 14 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.

TIPS Risk. TIPS are subject to numerous risks including changes in interest rates, economic recession and deterioration of the bond market or investors' perception thereof.

US Treasury Debt Instruments Risk. Debt instruments, such as U.S. Treasury obligations, are subject to numerous risks including higher interest rates, economic recession and deterioration of the bond market or investors' perceptions thereof.

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.

Additional Risk. For a discussion of additional risks of investing in the trust see the "Risk Factors" section of the prospectus.

Important Note. It is important to note that an investment can be made in the underlying funds directly rather than through the trust. These direct investments can be made without paying the trust's sales charge, operating expenses and organizational costs.

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.

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.

Fund Cusip Information
302651708 (Cash)
302651716 (Reinvest)
302651724 (Cash-Fee)
302651732 (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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