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Target VIP, 3rd Qtr 2020  Ticker: FLYEUX
 
Description
A unit investment trust that 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: VP3Q20
Portfolio Status: Secondary
Initial Offer Date: 07/10/2020
Secondary Date: 10/12/2020
Portfolio Ending Date: 10/08/2021
Tax Structure: Regulated Investment Company
Distributions: Semi-Annual
 
Initial Offer Price: $10.0000
NAV(*): $13.6302
POP(*): Not Avail
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 07/23/2021 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  Per Unit (as of 7/23/2021)
----- $0.15160
^ 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 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 distributions 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. Certain of the issuers may have reduced their dividends or distributions over the prior twelve months. The distribution per unit 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 5.30%
Consumer Discretionary  Consumer Discretionary 11.15%
Consumer Staples  Consumer Staples 3.33%
Energy  Energy 2.58%
Financials  Financials 16.98%
Health Care  Health Care 9.03%
Industrials  Industrials 8.02%
Information Technology  Information Technology 37.58%
Materials  Materials 2.92%
Real Estate  Real Estate 0.00%
Utilities  Utilities 2.91%
Other  Other 0.20%
 
  Large Mid Small  
Growth  41.73% 2.31% 8.64%  
Value  35.51% 1.03% 10.58%  

 Style Weighting
Large-Cap Growth 41.73%
Large-Cap Value 35.51%
Mid-Cap Growth 2.31%
Mid-Cap Value 1.03%
Small-Cap Growth 8.64%
Small-Cap Value 10.58%
Undetermined 0.20%
 Composition
U.S. Stocks 84.98%   Other 0.20%
Non-U.S. Stocks 14.82%      
The style and sector characteristics of the portfolio are determined as of 07/23/2021 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $629,196.02
Price/Earnings 18.35
Price/Book 3.27
As of 7/22/2021
All market capitalization numbers are in USD$ Millions

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolSectorStyleWeighting
 Apple Inc. AAPL Information Technology  Information Technology Large-Cap Growth 13.01%
 Microsoft Corporation MSFT Information Technology  Information Technology Large-Cap Growth 8.12%
 NVIDIA Corporation NVDA Information Technology  Information Technology Large-Cap Growth 5.47%
 Intel Corporation INTC Information Technology  Information Technology Large-Cap Value 5.19%
 American Express Company AXP Financials  Financials Large-Cap Value 4.45%
 JPMorgan Chase & Co. JPM Financials  Financials Large-Cap Value 3.85%
 The Travelers Companies, Inc. TRV Financials  Financials Large-Cap Value 3.11%
 Alphabet Inc. (Class A) GOOGL Communication Services  Communication Services Large-Cap Growth 2.57%
 Lowe's Companies, Inc. LOW Consumer Discretionary  Consumer Discretionary Large-Cap Growth 1.43%
 Biogen Inc. BIIB Health Care  Health Care Large-Cap Value 1.43%
 Adobe Incorporated ADBE Information Technology  Information Technology Large-Cap Growth 1.39%
 IDEXX Laboratories, Inc. IDXX Health Care  Health Care Large-Cap Growth 1.24%
 Volkswagen AG VOW.GY Consumer Discretionary  Consumer Discretionary Large-Cap Value 1.20%
 Eli Lilly and Company LLY Health Care  Health Care Large-Cap Growth 1.03%
 Shutterstock, Inc. SSTK Consumer Discretionary  Consumer Discretionary Small-Cap Growth 1.03%
 Anglo American Plc AAL.LN Materials  Materials Large-Cap Value 1.02%
 AbbVie Inc. ABBV Health Care  Health Care Large-Cap Growth 0.99%
 S&P Global Inc. SPGI Financials  Financials Large-Cap Growth 0.97%
 Atkore Inc. ATKR Industrials  Industrials Small-Cap Growth 0.92%
 Bayerische Motoren Werke (BMW) AG BMW.GY Consumer Discretionary  Consumer Discretionary Large-Cap Value 0.91%
 Rio Tinto Plc RIO.LN Materials  Materials Large-Cap Value 0.84%
 BASF SE BAS.GY Materials  Materials Large-Cap Value 0.83%
 Mr. Cooper Group Inc. COOP Financials  Financials Small-Cap Value 0.83%
 Perficient, Inc. PRFT Information Technology  Information Technology Small-Cap Growth 0.75%
 Regeneron Pharmaceuticals, Inc. REGN Health Care  Health Care Large-Cap Value 0.70%
 Allianz SE ALV.GY Financials  Financials Large-Cap Value 0.70%
 Amgen Inc. AMGN Health Care  Health Care Large-Cap Growth 0.69%
 Eni SpA ENI.IM Energy  Energy Large-Cap Value 0.69%
 Sleep Number Corporation SNBR Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.69%
 Swisscom AG SCMN.SW Communication Services  Communication Services Large-Cap Value 0.68%
 Monster Beverage Corporation MNST Consumer Staples  Consumer Staples Large-Cap Growth 0.68%
 National Grid Plc NG/.LN Utilities  Utilities Large-Cap Value 0.67%
 Rush Enterprises, Inc. (Class A) RUSHA Industrials  Industrials Small-Cap Value 0.66%
 Zurich Insurance Group AG ZURN.SW Financials  Financials Large-Cap Value 0.65%
 TotalEnergies SE TTE.FP Energy  Energy Large-Cap Value 0.64%
 eBay Inc. EBAY Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.63%
 Big Lots, Inc. BIG Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.63%
 Gibraltar Industries, Inc. ROCK Industrials  Industrials Small-Cap Growth 0.63%
 E.ON SE EOAN.GY Utilities  Utilities Large-Cap Value 0.63%
 Renewable Energy Group, Inc. REGI Energy  Energy Small-Cap Value 0.63%
 Vodafone Group Plc VOD.LN Communication Services  Communication Services Large-Cap Value 0.62%
 Vertex Pharmaceuticals Incorporated VRTX Health Care  Health Care Large-Cap Value 0.62%
 BP Plc BP/.LN Energy  Energy Large-Cap Value 0.61%
 Enel SpA ENEL.IM Utilities  Utilities Large-Cap Value 0.61%
 Muenchener Rueckversicherungs-Gesellschaft AG MUV2.GY Financials  Financials Large-Cap Value 0.61%
 Old Dominion Freight Line, Inc. ODFL Industrials  Industrials Large-Cap Growth 0.60%
 Applied Materials, Inc. AMAT Information Technology  Information Technology Large-Cap Growth 0.59%
 British American Tobacco Plc BATS.LN Consumer Staples  Consumer Staples Large-Cap Value 0.59%
 Vector Group Ltd. VGR Consumer Staples  Consumer Staples Small-Cap Growth 0.57%
 GlaxoSmithKline Plc GSK.LN Health Care  Health Care Large-Cap Value 0.57%
 Endesa, S.A. ELE.SM Utilities  Utilities Mid-Cap Value 0.56%
 Orange ORA.FP Communication Services  Communication Services Large-Cap Value 0.56%
 Virtus Investment Partners, Inc. VRTS Financials  Financials Small-Cap Value 0.56%
 Kadant Inc. KAI Industrials  Industrials Small-Cap Growth 0.55%
 Century Communities, Inc. CCS Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.55%
 GMS Inc. GMS Industrials  Industrials Small-Cap Value 0.55%
 Maxar Technologies Inc. MAXR Industrials  Industrials Small-Cap Value 0.54%
 1-800-FLOWERS.COM, Inc. FLWS Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.53%
 Brightsphere Investment Group Inc. BSIG Financials  Financials Small-Cap Growth 0.53%
 Boise Cascade Company BCC Industrials  Industrials Small-Cap Value 0.52%
 W.W. Grainger, Inc. GWW Industrials  Industrials Mid-Cap Growth 0.51%
 ServiceNow, Inc. NOW Information Technology  Information Technology Large-Cap Growth 0.51%
 Patrick Industries, Inc. PATK Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.49%
 Super Micro Computer, Inc. SMCI Information Technology  Information Technology Small-Cap Value 0.48%
 Methode Electronics, Inc. MEI Information Technology  Information Technology Small-Cap Value 0.47%
 NetEase, Inc. (ADR) NTES Communication Services  Communication Services Large-Cap Value 0.47%
 CBIZ, Inc. CBZ Industrials  Industrials Small-Cap Value 0.46%
 Alamo Group Inc. ALG Industrials  Industrials Small-Cap Value 0.46%
 RadNet, Inc. RDNT Health Care  Health Care Small-Cap Growth 0.46%
 Malibu Boats, Inc. (Class A) MBUU Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.45%
 M/I Homes, Inc. MHO Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.44%
 Bio-Rad Laboratories, Inc. (Class A) BIO Health Care  Health Care Mid-Cap Value 0.43%
 The Allstate Corporation ALL Financials  Financials Large-Cap Value 0.42%
 Kimberly-Clark Corporation KMB Consumer Staples  Consumer Staples Large-Cap Growth 0.40%
 ArcBest Corporation ARCB Industrials  Industrials Small-Cap Value 0.40%
 TTM Technologies, Inc. TTMI Information Technology  Information Technology Small-Cap Value 0.40%
 Tennant Company TNC Industrials  Industrials Small-Cap Growth 0.39%
 Electronic Arts Inc. EA Communication Services  Communication Services Large-Cap Value 0.38%
 Domino's Pizza, Inc. DPZ Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.38%
 Air Transport Services Group, Inc. ATSG Industrials  Industrials Small-Cap Value 0.37%
 Cadence Design Systems, Inc. CDNS Information Technology  Information Technology Large-Cap Growth 0.35%
 e.l.f. Beauty, Inc. ELF Consumer Staples  Consumer Staples Small-Cap Growth 0.35%
 NextEra Energy, Inc. NEE Utilities  Utilities Large-Cap Value 0.33%
 Stride Inc. LRN Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.32%
 Masco Corporation MAS Industrials  Industrials Mid-Cap Growth 0.31%
 The Clorox Company CLX Consumer Staples  Consumer Staples Mid-Cap Growth 0.30%
 Zumiez Inc. ZUMZ Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.30%
 Ameriprise Financial, Inc. AMP Financials  Financials Large-Cap Value 0.30%
 John B. Sanfilippo & Son, Inc. JBSS Consumer Staples  Consumer Staples Small-Cap Growth 0.29%
 America's Car-Mart, Inc. CRMT Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.28%
 Align Technology, Inc. ALGN Health Care  Health Care Large-Cap Growth 0.28%
 Dollar General Corporation DG Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.28%
 Newmont Corporation NEM Materials  Materials Large-Cap Value 0.23%
 Photronics, Inc. PLAB Information Technology  Information Technology Small-Cap Value 0.23%
 OraSure Technologies, Inc. OSUR Health Care  Health Care Small-Cap Value 0.21%
 KLA Corporation KLAC Information Technology  Information Technology Large-Cap Growth 0.20%
 West Pharmaceutical Services, Inc. WST Health Care  Health Care Mid-Cap Growth 0.20%
 DaVita Inc. DVA Health Care  Health Care Mid-Cap Growth 0.18%
 Skyworks Solutions, Inc. SWKS Information Technology  Information Technology Large-Cap Value 0.18%
 Tractor Supply Company TSCO Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.17%
 The Kroger Co. KR Consumer Staples  Consumer Staples Large-Cap Value 0.15%
 Fastenal Company FAST Industrials  Industrials Large-Cap Growth 0.15%
 Lumber Liquidators Holdings, Inc. LL Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.15%
 lululemon athletica inc. LULU Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.15%
 Beazer Homes USA, Inc. BZH Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.14%
 Jack Henry & Associates, Inc. JKHY Information Technology  Information Technology Mid-Cap Growth 0.12%
 Citrix Systems, Inc. CTXS Information Technology  Information Technology Mid-Cap Growth 0.12%
 WEC Energy Group, Inc. WEC Utilities  Utilities Large-Cap Value 0.07%
 CMS Energy Corporation CMS Utilities  Utilities Mid-Cap Value 0.04%
 Take-Two Interactive Software, Inc. TTWO Communication Services  Communication Services Mid-Cap Growth 0.02%
 Thungela Resources Ltd TGA.LN Energy  Energy Small-Cap Growth 0.01%
 
Total Number of Holdings:    111
Underlying Securities information represented above is as of 07/23/2021 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 COVID-19 global pandemic has caused significant volatility and declines in global financial markets, causing losses for investors. The development of vaccines has slowed the spread of the virus and allowed for the resumption of "reasonably" normal business activity in the United States, although many countries continue to impose lockdown measures. Additionally, there is no guarantee that vaccines will be effective against emerging variants of the disease.

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.

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

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
30314Q340 (Cash)
30314Q357 (Reinvest)
30314Q365 (Cash-Fee)
30314Q373 (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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