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Target VIP, 1st Qtr 2020  Ticker: FLNZDX
 
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: VP1Q20
Portfolio Status: Secondary
Initial Offer Date: 01/10/2020
Secondary Date: 04/13/2020
Portfolio Ending Date: 04/09/2021
Tax Structure: Regulated Investment Company
Distributions: Semi-Annual
 
Initial Offer Price: $10.0000
NAV(*): $9.6756
POP(*): $9.8080
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 08/14/2020 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 8/14/2020) Per Unit (as of 8/10/2020)
1.42% $0.13910
^ 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. Due to the negative economic impact across many industries caused by the recent COVID-19 outbreak, certain issuers of the securities included in the trust may elect to reduce the amount of dividends and/or distributions paid in the future. As a result, the "Historical 12-Month Distribution Rate of Trust Holdings," which is based on the trailing twelve-month distributions paid by the securities included in a trust, will likely be higher, and in some cases significantly higher, than the actual distribution rate achieved by the trust. 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. 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. 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.

 Holdings Analysis Click here to Perform a Benchmark Comparison  
 Sector Weighting
Communication Services  Communication Services 5.09%
Consumer Discretionary  Consumer Discretionary 6.47%
Consumer Staples  Consumer Staples 2.24%
Energy  Energy 3.12%
Financials  Financials 9.81%
Health Care  Health Care 10.91%
Industrials  Industrials 14.32%
Information Technology  Information Technology 44.80%
Materials  Materials 1.95%
Real Estate  Real Estate 0.00%
Utilities  Utilities 0.94%
Other  Other 0.35%
 
  Large Mid Small  
Growth  48.34% 2.99% 6.84%  
Value  32.29% 1.09% 8.10%  

 Style Weighting
Large-Cap Growth 48.34%
Large-Cap Value 32.29%
Mid-Cap Growth 2.99%
Mid-Cap Value 1.09%
Small-Cap Growth 6.84%
Small-Cap Value 8.10%
Undetermined 0.35%
 Composition
U.S. Stocks 79.47%   Other 0.35%
Non-U.S. Stocks 20.18%      
The style and sector characteristics of the portfolio are determined as of 08/13/2020 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $420,670.86
Price/Earnings 19.96
Price/Book 2.70
As of 8/13/2020
All market capitalization numbers are in USD$ Millions

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolSectorStyleWeighting
 Apple Inc. AAPL Information Technology  Information Technology Large-Cap Growth 11.97%
 Intel Corporation INTC Information Technology  Information Technology Large-Cap Value 5.72%
 Taiwan Semiconductor Manufacturing Company Ltd. (ADR) TSM Information Technology  Information Technology Large-Cap Growth 5.54%
 Microsoft Corporation MSFT Information Technology  Information Technology Large-Cap Growth 5.41%
 Caterpillar Inc. CAT Industrials  Industrials Large-Cap Value 3.17%
 Merck & Co., Inc. MRK Health Care  Health Care Large-Cap Growth 3.14%
 International Business Machines Corporation IBM Information Technology  Information Technology Large-Cap Value 3.07%
 Cisco Systems, Inc. CSCO Information Technology  Information Technology Large-Cap Value 2.99%
 Eli Lilly and Company LLY Health Care  Health Care Large-Cap Growth 2.18%
 Lockheed Martin Corporation LMT Industrials  Industrials Large-Cap Growth 2.09%
 Amgen Inc. AMGN Health Care  Health Care Large-Cap Growth 2.01%
 QUALCOMM Incorporated QCOM Information Technology  Information Technology Large-Cap Growth 1.83%
 S&P Global Inc. SPGI Financials  Financials Large-Cap Growth 1.58%
 Alphabet Inc. (Class A) GOOGL Communication Services  Communication Services Large-Cap Value 1.31%
 Target Corporation TGT Consumer Discretionary  Consumer Discretionary Large-Cap Growth 1.29%
 Cintas Corporation CTAS Industrials  Industrials Large-Cap Growth 1.10%
 Gibraltar Industries, Inc. ROCK Industrials  Industrials Small-Cap Growth 1.00%
 Starbucks Corporation SBUX Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.98%
 Walmart, Inc. WMT Consumer Staples  Consumer Staples Large-Cap Value 0.94%
 Endesa, S.A. ELE.SM Utilities  Utilities Large-Cap Value 0.94%
 Edwards Lifesciences Corporation EW Health Care  Health Care Large-Cap Growth 0.93%
 Facebook, Inc. (Class A) FB Communication Services  Communication Services Large-Cap Growth 0.92%
 Rio Tinto Plc RIO.LN Materials  Materials Large-Cap Value 0.88%
 Applied Materials, Inc. AMAT Information Technology  Information Technology Large-Cap Growth 0.84%
 NetEase, Inc. (ADR) NTES Communication Services  Communication Services Large-Cap Growth 0.83%
 Nordea Bank Abp NDA.SS Financials  Financials Large-Cap Value 0.83%
 Lam Research Corporation LRCX Information Technology  Information Technology Large-Cap Growth 0.76%
 Daimler AG DAI.GY Consumer Discretionary  Consumer Discretionary Large-Cap Value 0.75%
 Micron Technology, Inc. MU Information Technology  Information Technology Large-Cap Value 0.73%
 Biogen Inc. BIIB Health Care  Health Care Large-Cap Value 0.73%
 Intesa Sanpaolo SpA ISP.IM Financials  Financials Large-Cap Value 0.70%
 Orange ORA.FP Communication Services  Communication Services Large-Cap Value 0.67%
 KBC Groupe N.V. KBC.BB Financials  Financials Large-Cap Value 0.66%
 Electronic Arts Inc. EA Communication Services  Communication Services Large-Cap Value 0.63%
 CSG Systems International, Inc. CSGS Information Technology  Information Technology Small-Cap Growth 0.63%
 lululemon athletica inc. LULU Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.63%
 British American Tobacco Plc BATS.LN Consumer Staples  Consumer Staples Large-Cap Value 0.62%
 BNP Paribas S.A. BNP.FP Financials  Financials Large-Cap Value 0.62%
 AXA S.A. CS.FP Financials  Financials Large-Cap Value 0.62%
 Copart, Inc. CPRT Industrials  Industrials Large-Cap Growth 0.61%
 Total SE FP.FP Energy  Energy Large-Cap Value 0.60%
 Credit Agricole S.A. ACA.FP Financials  Financials Large-Cap Value 0.60%
 The Allstate Corporation ALL Financials  Financials Large-Cap Value 0.58%
 ING Groep N.V. INGA.NA Financials  Financials Large-Cap Value 0.56%
 MSCI Inc. MSCI Financials  Financials Large-Cap Growth 0.56%
 Masco Corporation MAS Industrials  Industrials Mid-Cap Growth 0.54%
 NIC Inc. EGOV Information Technology  Information Technology Small-Cap Growth 0.53%
 Patrick Industries, Inc. PATK Industrials  Industrials Small-Cap Growth 0.53%
 Telefonica, S.A. TEF.SM Communication Services  Communication Services Large-Cap Value 0.52%
 Addus HomeCare Corporation ADUS Health Care  Health Care Small-Cap Growth 0.52%
 BP Plc BP/.LN Energy  Energy Large-Cap Value 0.51%
 Eni SpA ENI.IM Energy  Energy Large-Cap Value 0.51%
 ANSYS, Inc. ANSS Information Technology  Information Technology Large-Cap Growth 0.51%
 Sykes Enterprises, Incorporated SYKE Information Technology  Information Technology Small-Cap Value 0.50%
 PepsiCo, Inc. PEP Consumer Staples  Consumer Staples Large-Cap Growth 0.49%
 HSBC Holdings Plc HSBA.LN Financials  Financials Large-Cap Value 0.49%
 Encore Capital Group, Inc. ECPG Financials  Financials Small-Cap Value 0.48%
 CBIZ, Inc. CBZ Industrials  Industrials Small-Cap Value 0.48%
 KLA Corporation KLAC Information Technology  Information Technology Large-Cap Growth 0.47%
 Kadant Inc. KAI Industrials  Industrials Small-Cap Growth 0.47%
 Banco Santander S.A. SAN.SM Financials  Financials Large-Cap Value 0.46%
 Alamo Group Inc. ALG Industrials  Industrials Small-Cap Growth 0.46%
 Tennant Company TNC Industrials  Industrials Small-Cap Growth 0.45%
 Sleep Number Corporation SNBR Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.45%
 TTM Technologies, Inc. TTMI Information Technology  Information Technology Small-Cap Value 0.45%
 CDW Corporation CDW Information Technology  Information Technology Mid-Cap Growth 0.45%
 Royal Dutch Shell Plc (Class A) RDSA.LN Energy  Energy Large-Cap Value 0.44%
 M/I Homes, Inc. MHO Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.42%
 Materion Corporation MTRN Materials  Materials Small-Cap Value 0.42%
 Herc Holdings, Inc. HRI Industrials  Industrials Small-Cap Value 0.42%
 Methode Electronics, Inc. MEI Information Technology  Information Technology Small-Cap Value 0.41%
 Century Communities, Inc. CCS Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.40%
 Societe Generale S.A. GLE.FP Financials  Financials Mid-Cap Value 0.39%
 GMS Inc. GMS Industrials  Industrials Small-Cap Value 0.39%
 Schweitzer-Mauduit International, Inc. SWM Materials  Materials Small-Cap Value 0.37%
 Texas Instruments Incorporated TXN Information Technology  Information Technology Large-Cap Growth 0.36%
 Huron Consulting Group Inc. HURN Industrials  Industrials Small-Cap Value 0.36%
 Ross Stores, Inc. ROST Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.35%
 Mettler-Toledo International Inc. MTD Health Care  Health Care Large-Cap Growth 0.34%
 Virtus Investment Partners, Inc. VRTS Financials  Financials Small-Cap Value 0.34%
 Veritex Holdings, Inc. VBTX Financials  Financials Small-Cap Value 0.34%
 Columbus McKinnon Corporation CMCO Industrials  Industrials Small-Cap Value 0.31%
 Kforce Inc. KFRC Industrials  Industrials Small-Cap Growth 0.28%
 AutoZone, Inc. AZO Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.27%
 Benchmark Electronics, Inc. BHE Information Technology  Information Technology Small-Cap Value 0.27%
 ConocoPhillips COP Energy  Energy Large-Cap Value 0.27%
 Photronics, Inc. PLAB Information Technology  Information Technology Small-Cap Value 0.27%
 H&E Equipment Services, Inc. HEES Industrials  Industrials Small-Cap Growth 0.27%
 Pan American Silver Corp. PAAS Materials  Materials Mid-Cap Value 0.25%
 Tactile Systems Technology, Inc. TCMD Health Care  Health Care Small-Cap Growth 0.25%
 AudioCodes Ltd. AUDC Information Technology  Information Technology Small-Cap Growth 0.24%
 Helix Energy Solutions Group, Inc. HLX Energy  Energy Small-Cap Value 0.23%
 America's Car-Mart, Inc. CRMT Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.23%
 Knoll, Inc. KNL Industrials  Industrials Small-Cap Value 0.23%
 Robert Half International Inc. RHI Industrials  Industrials Mid-Cap Growth 0.22%
 Teradyne, Inc. TER Information Technology  Information Technology Mid-Cap Growth 0.22%
 Zumiez Inc. ZUMZ Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.22%
 Waters Corporation WAT Health Care  Health Care Mid-Cap Growth 0.21%
 Chemed Corporation CHE Health Care  Health Care Mid-Cap Growth 0.21%
 Skyworks Solutions, Inc. SWKS Information Technology  Information Technology Large-Cap Growth 0.21%
 Cable One, Inc. CABO Communication Services  Communication Services Mid-Cap Growth 0.21%
 Tyler Technologies, Inc. TYL Information Technology  Information Technology Mid-Cap Growth 0.20%
 Eagle Pharmaceuticals, Inc. EGRX Health Care  Health Care Small-Cap Growth 0.20%
 Anika Therapeutics, Inc. ANIK Health Care  Health Care Small-Cap Value 0.19%
 Garmin Ltd. GRMN Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.18%
 FTI Consulting, Inc. FCN Industrials  Industrials Mid-Cap Value 0.18%
 DMC Global Inc. BOOM Energy  Energy Small-Cap Growth 0.18%
 Phillips 66 PSX Energy  Energy Large-Cap Value 0.17%
 Hibbett Sports, Inc. HIBB Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.16%
 Par Pacific Holdings, Inc. PARR Energy  Energy Small-Cap Value 0.16%
 Teledyne Technologies Incorporated TDY Industrials  Industrials Mid-Cap Growth 0.15%
 Comtech Telecommunications Corp. CMTL Information Technology  Information Technology Small-Cap Value 0.15%
 Leggett & Platt, Incorporated LEG Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.14%
 Allegion Public Limited Company ALLE Industrials  Industrials Mid-Cap Growth 0.14%
 Carlisle Companies Incorporated CSL Industrials  Industrials Mid-Cap Value 0.13%
 Viad Corp VVI Industrials  Industrials Small-Cap Value 0.13%
 Douglas Dynamics, Inc. PLOW Industrials  Industrials Small-Cap Growth 0.12%
 Lamb Weston Holdings, Inc. LW Consumer Staples  Consumer Staples Mid-Cap Growth 0.12%
 Howmet Aerospace Inc. HWM Industrials  Industrials Mid-Cap Value 0.09%
 Sysco Corporation SYY Consumer Staples  Consumer Staples Large-Cap Growth 0.07%
 VeriSign, Inc. VRSN Information Technology  Information Technology Large-Cap Growth 0.07%
 Cabot Oil & Gas Corporation COG Energy  Energy Mid-Cap Value 0.05%
 Arconic Corporation ARNC Materials  Materials Small-Cap Growth 0.03%
 
Total Number of Holdings:    123
Underlying Securities information represented above is as of 08/13/2020 but will vary with future fluctuations in the market.

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.

COVID-19 Economic Impact Risk. The recent outbreak of a respiratory disease designated as COVID-19 was first detected in China in December 2019. The global economic impact of the COVID-19 outbreak is impossible to predict but is expected to disrupt manufacturing, supply chains and sales in affected areas and negatively impact global economic growth prospects. The COVID-19 outbreak has also caused significant volatility and declines in global financial markets, which have caused losses for investors. The impact of the COVID-19 outbreak may be short term or may last for an extended period of time, and in either case could result in a substantial economic downturn or recession.

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.

Technology Risk. The companies engaged in the information technology sector are subject to fierce competition, high research and development costs, and their products and services may be subject to rapid obsolescence. Technology company stocks, especially those which are Internet-related, may experience extreme price and volume fluctuations that are often unrelated to their operating performance.

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 cybersecurity.

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 professional 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
30312N620 (Cash)
30312N638 (Reinvest)
30312N646 (Cash-Fee)
30312N653 (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 professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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