60/40 Strategic Allocation, 2nd Qtr 2026  Ticker: FBWDVX
 
Description
A unit investment trust which seeks the potential for above-average total return by investing approximately 60% of its assets in common stocks which are selected by applying a disciplined investment strategy and 40% of its assets in exchange-traded funds which invest in fixed-income securities.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: 6S2Q26
Portfolio Status: Primary
Initial Offer Date: 04/13/2026
Portfolio Ending Date: 07/16/2027
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $9.8475
POP(*): $9.9822
Remaining Deferred Sales Charge: $0.1350
Remaining Fees & Expenses
C&D Fee:** $0.0500
Estimated Organization Costs:** $0.0120
* As of Trade Date: 04/16/2026 4:00pm ET
The Public Offering Price (POP) represents the net asset value per unit plus any 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.
** The C&D fee is a charge of $0.050 per unit collected at the end of the initial offering period. If the price you pay exceeds $10.00 per unit, the C&D fee will be less than 0.50%; if the price you pay is less than $10.00 per unit, the C&D fee will exceed 0.50%.Estimated organization costs will be deducted from the assets of the trust at the earlier of six months after the initial date of deposit or the end of the initial offering period.Estimated organization costs are assessed on a fixed dollar amount per unit basis which, as a percentage of average net assets, will vary over time.Actual expenses may be more or less than the estimates.Please see "Fee Table" in the trust prospectus for additional information.
If units are redeemed prior to the time when these fees are collected, these fees will not be deducted from the redemption proceeds.

 Historical 12-Month Distribution of Trust Holdings:^
Rate (as of 4/16/2026) Per Unit (as of 4/10/2026)
3.18% $0.31790
^ 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. 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.

 Holdings  Export Current Holdings  
NameSymbolWeighting
 VanEck J.P. Morgan EM Local Currency Bond ETF EMLC 1.60%
 Vanguard Long-Term Corporate Bond ETF VCLT 1.60%
 Invesco Senior Loan ETF BKLN 1.60%
 iShares 10+ Year Investment Grade Corporate Bond ETF IGLB 1.60%
 PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund HYS 1.60%
 State Street SPDR Portfolio Long Term Corporate Bond ETF SPLB 1.60%
 Vanguard Mortgage-Backed Securities ETF VMBS 1.60%
 First Trust Preferred Securities and Income ETF FPE 1.60%
 First Trust Tactical High Yield ETF HYLS 1.60%
 State Street SPDR Bloomberg Short Term High Yield Bond ETF SJNK 1.60%
 State Street SPDR Blackstone Senior Loan ETF SRLN 1.60%
 iShares 0-5 Year High Yield Corporate Bond ETF SHYG 1.60%
 State Street SPDR Portfolio Corporate Bond ETF SPBO 1.60%
 VanEck IG Floating Rate ETF FLTR 1.60%
 iShares Broad USD High Yield Corporate Bond ETF USHY 1.60%
 State Street SPDR Portfolio High Yield Bond ETF SPHY 1.60%
 Invesco Variable Rate Preferred ETF VRP 1.60%
 WisdomTree Floating Rate Treasury Fund USFR 1.60%
 Janus Henderson Mortgage-Backed Securities ETF JMBS 1.60%
 Franklin High Yield Corporate ETF FLHY 1.60%
 Franklin Senior Loan ETF FLBL 1.60%
 First Trust Limited Duration Investment Grade Corporate ETF FSIG 1.60%
 iShares High Yield Systematic Bond ETF HYDB 1.60%
 First Trust Core Investment Grade ETF FTCB 1.60%
 First Trust Structured Credit Income Opportunities ETF SCIO 1.60%
 The Allstate Corporation ALL 0.51%
 Berkshire Hathaway Inc. (Class B) BRK/B 0.51%
 Ross Stores, Inc. ROST 0.51%
 Howmet Aerospace Inc. HWM 0.51%
 Bristol-Myers Squibb Company BMY 0.50%
 Johnson & Johnson JNJ 0.50%
 Exxon Mobil Corporation XOM 0.50%
 AT&T Inc. T 0.50%
 The Coca-Cola Company KO 0.50%
 Automatic Data Processing, Inc. ADP 0.50%
 Walmart Inc. WMT 0.50%
 Union Pacific Corporation UNP 0.50%
 Xcel Energy Inc. XEL 0.50%
 The Walt Disney Company DIS 0.50%
 The Procter & Gamble Company PG 0.50%
 Duke Energy Corporation DUK 0.50%
 PG&E Corporation PCG 0.50%
 Atmos Energy Corporation ATO 0.50%
 Consolidated Edison, Inc. ED 0.50%
 Becton, Dickinson and Company BDX 0.50%
 International Business Machines Corporation IBM 0.50%
 Waste Management, Inc. WM 0.50%
 Comcast Corporation (Class A) CMCSA 0.50%
 Sysco Corporation SYY 0.50%
 PepsiCo, Inc. PEP 0.50%
 Cisco Systems, Inc. CSCO 0.50%
 Adobe Incorporated ADBE 0.50%
 The TJX Companies, Inc. TJX 0.50%
 EOG Resources, Inc. EOG 0.50%
 The Hartford Insurance Group, Inc. HIG 0.50%
 Newmont Corporation NEM 0.50%
 ConocoPhillips COP 0.50%
 The Progressive Corporation PGR 0.50%
 Exelon Corporation EXC 0.50%
 Devon Energy Corporation DVN 0.50%
 M&T Bank Corporation MTB 0.50%
 ResMed Inc. RMD 0.50%
 D.R. Horton, Inc. DHI 0.50%
 The Travelers Companies, Inc. TRV 0.50%
 Copart, Inc. CPRT 0.50%
 eBay Inc. EBAY 0.50%
 General Dynamics Corporation GD 0.50%
 Gilead Sciences, Inc. GILD 0.50%
 Elevance Health Inc. ELV 0.50%
 EQT Corporation EQT 0.50%
 Las Vegas Sands Corp. LVS 0.50%
 Chipotle Mexican Grill, Inc. CMG 0.50%
 Keurig Dr Pepper Inc. KDP 0.50%
 Cheniere Energy, Inc. LNG 0.50%
 Targa Resources Corp. TRGP 0.50%
 HCA Healthcare, Inc. HCA 0.50%
 Zoetis Inc. ZTS 0.50%
 Monster Beverage Corporation MNST 0.50%
 Alphabet Inc. (Class A) GOOGL 0.50%
 Baker Hughes Company (Class A) BKR 0.50%
 The Cigna Group CI 0.50%
 Parker-Hannifin Corporation PH 0.49%
 EMCOR Group, Inc. EME 0.49%
 Cboe Global Markets, Inc. CBOE 0.49%
 McKesson Corporation MCK 0.48%
 Agnico Eagle Mines Limited AEM 0.40%
 Eni S.p.A. (ADR) E 0.40%
 British American Tobacco Plc (ADR) BTI 0.40%
 Chubb Limited CB 0.40%
 Deutsche Telekom AG (ADR) DTEGY 0.40%
 HSBC Holdings plc (ADR) HSBC 0.40%
 Suncor Energy Inc. SU 0.40%
 DBS Group Holdings Ltd. (ADR) DBSDY 0.40%
 Canadian Natural Resources Limited CNQ 0.40%
 BAE Systems Plc (ADR) BAESY 0.40%
 Sanofi (ADR) SNY 0.40%
 Equinor ASA EQNR 0.40%
 NTT, Inc. (ADR) NTTYY 0.40%
 Rio Tinto plc (ADR) RIO 0.40%
 Engie S.A. (ADR) ENGIY 0.40%
 Air Liquide S.A. (ADR) AIQUY 0.40%
 Anheuser-Busch InBev S.A./N.V. (ADR) BUD 0.40%
 Tokio Marine Holdings, Inc. (ADR) TKOMY 0.40%
 Vinci S.A. (ADR) VCISY 0.40%
 Muenchener Rueckversicherungs-Gesellschaft AG (MunichRe) (ADR) MURGY 0.40%
 Fast Retailing Co., Ltd. (ADR) FRCOY 0.40%
 Itochu Corp. (ADR) ITOCY 0.40%
 Oversea-Chinese Banking Corporation Limited (ADR) OVCHY 0.40%
 Industria de Diseno Textil, S.A. (ADR) IDEXY 0.40%
 PDD Holdings Inc. (ADR) PDD 0.40%
 Prosus N.V. (ADR) PROSY 0.40%
 Shell Plc (ADR) SHEL 0.40%
 Chugai Pharmaceutical Co., Ltd. (ADR) CHGCY 0.40%
 AstraZeneca Plc AZN 0.40%
 Linde Plc LIN 0.39%
 Casey's General Stores, Inc. CASY 0.21%
 ESCO Technologies Inc. ESE 0.21%
 IES Holdings, Inc. IESC 0.21%
 Globe Life Inc. GL 0.20%
 McCormick & Company, Incorporated MKC 0.20%
 Universal Health Services, Inc. (Class B) UHS 0.20%
 Incyte Corporation INCY 0.20%
 Mueller Industries, Inc. MLI 0.20%
 AptarGroup, Inc. ATR 0.20%
 MGIC Investment Corporation MTG 0.20%
 Jack Henry & Associates, Inc. JKHY 0.20%
 Neurocrine Biosciences, Inc. NBIX 0.20%
 Murphy Oil Corporation MUR 0.20%
 The New York Times Company (Class A) NYT 0.20%
 Toll Brothers, Inc. TOL 0.20%
 SM Energy Company SM 0.20%
 SEI Investments Company SEIC 0.20%
 PulteGroup, Inc. PHM 0.20%
 Darden Restaurants, Inc. DRI 0.20%
 FactSet Research Systems Inc. FDS 0.20%
 Dollar Tree, Inc. DLTR 0.20%
 Edison International EIX 0.20%
 Ingredion Incorporated INGR 0.20%
 Cirrus Logic, Inc. CRUS 0.20%
 Mohawk Industries, Inc. MHK 0.20%
 Zimmer Biomet Holdings, Inc. ZBH 0.20%
 Bio-Rad Laboratories, Inc. (Class A) BIO 0.20%
 CNX Resources Corporation CNX 0.20%
 National Fuel Gas Company NFG 0.20%
 Exelixis, Inc. EXEL 0.20%
 The Hanover Insurance Group, Inc. THG 0.20%
 Crown Holdings, Inc. CCK 0.20%
 Kirby Corporation KEX 0.20%
 EnerSys ENS 0.20%
 Texas Roadhouse, Inc. TXRH 0.20%
 Deckers Outdoor Corporation DECK 0.20%
 CF Industries Holdings, Inc. CF 0.20%
 First Solar, Inc. FSLR 0.20%
 Archrock, Inc. AROC 0.20%
 BioMarin Pharmaceutical Inc. BMRN 0.20%
 SouthState Bank Corporation SSB 0.20%
 Argan, Inc. AGX 0.20%
 The Ensign Group, Inc. ENSG 0.20%
 Pilgrim's Pride Corporation PPC 0.20%
 The Mosaic Company MOS 0.20%
 Sprouts Farmers Market, Inc. SFM 0.20%
 Antero Resources Corporation AR 0.20%
 ONE Gas, Inc. OGS 0.20%
 US Foods Holding Corp. USFD 0.20%
 Permian Resources Corp. PR 0.20%
 Krystal Biotech, Inc. KRYS 0.20%
 VICI Properties Inc. VICI 0.20%
 BJ's Wholesale Club Holdings, Inc. BJ 0.20%
 Tradeweb Markets Inc. (Class A) TW 0.20%
 Ovintiv Inc. OVV 0.20%
 Enact Holdings, Inc. ACT 0.20%
 FirstCash Holdings, Inc. FCFS 0.20%
 Snap-on Incorporated SNA 0.19%
 Carpenter Technology Corporation CRS 0.19%
 United Therapeutics Corporation UTHR 0.19%
 Chemed Corporation CHE 0.11%
 Matson, Inc. MATX 0.11%
 Tootsie Roll Industries, Inc. TR 0.10%
 Harley-Davidson, Inc. HOG 0.10%
 1st Source Corporation SRCE 0.10%
 The Marzetti Company MZTI 0.10%
 Sonoco Products Company SON 0.10%
 Patterson-UTI Energy, Inc. PTEN 0.10%
 Brady Corporation BRC 0.10%
 Radian Group Inc. RDN 0.10%
 Urban Outfitters, Inc. URBN 0.10%
 CoreCivic, Inc. CXW 0.10%
 KB Home KBH 0.10%
 Abercrombie & Fitch Co. (Class A) ANF 0.10%
 M/I Homes, Inc. MHO 0.10%
 Weis Markets, Inc. WMK 0.10%
 Plexus Corp. PLXS 0.10%
 Spectrum Brands Holdings, Inc. SPB 0.10%
 Covista Inc. CVSA 0.10%
 Strategic Education, Inc. STRA 0.10%
 PriceSmart, Inc. PSMT 0.10%
 Federated Hermes, Inc. (Class B) FHI 0.10%
 Oceaneering International, Inc. OII 0.10%
 FTI Consulting, Inc. FCN 0.10%
 Mercury General Corporation MCY 0.10%
 Cal-Maine Foods, Inc. CALM 0.10%
 International Bancshares Corporation IBOC 0.10%
 EZCORP, Inc. EZPW 0.10%
 Rush Enterprises, Inc. (Class A) RUSHA 0.10%
 Avista Corporation AVA 0.10%
 H2O America HTO 0.10%
 Innoviva, Inc. INVA 0.10%
 Ingles Markets, Incorporated IMKTA 0.10%
 Central Garden & Pet Company (Class A) CENTA 0.10%
 AZZ Inc. AZZ 0.10%
 ACADIA Pharmaceuticals Inc. ACAD 0.10%
 Enterprise Financial Services Corp EFSC 0.10%
 Iridium Communications Inc. IRDM 0.10%
 Graphic Packaging Holding Company GPK 0.10%
 Stride, Inc. LRN 0.10%
 NetScout Systems, Inc. NTCT 0.10%
 Green Brick Partners, Inc. GRBK 0.10%
 Catalyst Pharmaceuticals, Inc. CPRX 0.10%
 Par Pacific Holdings, Inc. PARR 0.10%
 Taylor Morrison Home Corporation TMHC 0.10%
 NMI Holdings, Inc. (Class A) NMIH 0.10%
 Freshpet, Inc. FRPT 0.10%
 Laureate Education, Inc. (Class A) LAUR 0.10%
 DXC Technology Company DXC 0.10%
 Tidewater Inc. TDW 0.10%
 Core Natural Resources Inc. CNR 0.10%
 Liberty Energy Inc. (Class A) LBRT 0.10%
 Cactus, Inc. (Class A) WHD 0.10%
 Talos Energy Inc. TALO 0.10%
 Palomar Holdings, Inc. PLMR 0.10%
 Alignment Healthcare, Inc. ALHC 0.10%
 Compass, Inc. (Class A) COMP 0.10%
 Gulfport Energy Corporation GPOR 0.10%
 Erasca, Inc. ERAS 0.10%
 Crescent Energy Company CRGY 0.10%
 
Total Number of Holdings:    235
Underlying Securities information represented above is as of 04/13/2026 but will vary with future fluctuations in the market.

 Standard Account Sales Charges *
Transactional sales charges: Initial:  0.00%
  Deferred:  1.35%
C&D Fee:    0.50%
Maximum Sales Charge:   1.85%
CUSIP Type Distribution
30344J589 Cash Monthly
30344J597 Reinvest Monthly
* Based on the offer price as of 04/16/2026 4:00pm ET

 Fee/Wrap Account Sales Charges *
C&D Fee:    0.51%
Maximum Sales Charge:   0.51%
CUSIP Type Distribution
30344J605 Cash-Fee Monthly
30344J613 Reinvest-Fee Monthly
* Based on the NAV price as of 04/16/2026 4:00pm ET

 Estimated Fees & Expenses *
Estimated Organization Costs 0.120%
Estimated Annual Trust Operating Expenses 0.324%
As of Initial Offer Date
* The C&D fee is a charge of $0.050 per unit collected at the end of the initial offering period. If the price you pay exceeds $10.00 per unit, the C&D fee will be less than 0.50%; if the price you pay is less than $10.00 per unit, the C&D fee will exceed 0.50%.Estimated organization costs will be deducted from the assets of the trust at the earlier of six months after the initial date of deposit or the end of the initial offering period.Estimated organization costs and trust operating expenses are assessed on a fixed dollar amount per unit basis which, as a percentage of average net assets, will vary over time.Actual expenses may be more or less than the estimates.Please see "Fee Table" in the trust prospectus for additional information.

 Deferred Sales Charge Schedule
Amount Date
$0.04500 July 20, 2026
$0.04500 August 20, 2026
$0.04500 September 18, 2026

Risk Considerations

Unit investment trusts are designed to be held until trust termination. If redeemed early, additional fees, such as remaining deferred sales charges, will be assessed.

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.

Buy & Hold Risk – Taxable Trusts. This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan.

Covenant-Lite Loan Risk. Covenant-lite loans contain fewer or no maintenance covenants and may hinder the funds' ability to reprice credit risk and mitigate potential loss especially during a downturn in the credit cycle.

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.

Foreign Securities Risk. Securities of non-U.S. issuers are subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers.

High-Yield or Junk Bonds Risk. Investing in high-yield securities 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.

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

Market Disruption Risk. Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, the United States, Iran, and militant groups including Hamas in the Middle East have caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, the Middle East and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.

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.

Public Health Crisis Risk. A public health crisis, and the ensuing policies enacted by governments and central banks in response, could cause significant volatility and uncertainty in global financial markets, negatively impacting global growth prospects.

Senior Loans Risk. The yield on funds which invest in 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.

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.

US Treasury Obligations Risk. 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 organization 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 cybersecurity.

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.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by FactSet Research Systems Inc. and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, ©2026 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.