Interest Rate Hedge Portfolio, Series 146
Ticker Symbol: FFGGVX
|38 Holdings (As of Day of Deposit)
|EXCHANGE-TRADED FUNDS (60.13%)
||Alerian MLP ETF
||First Trust SSI Strategic Convertible Securities ETF
||FlexShares iBoxx 3-Year Target Duration TIPS Index Fund
||Franklin High Yield Corporate ETF
||Franklin Senior Loan ETF
||Global X MLP ETF
||InfraCap MLP ETF
||Invesco KBW Premium Yield Equity REIT ETF
||Invesco Variable Rate Preferred ETF
||iShares 0-5 Year High Yield Corporate Bond ETF
||iShares Convertible Bond ETF
||iShares Core US REIT ETF
||iShares Global REIT ETF
||SPDR Blackstone Senior Loan ETF
||SPDR Bloomberg Barclays Convertible Securities ETF
||SPDR Dow Jones REIT ETF
||SPDR Portfolio High Yield Bond ETF
||Vanguard Short-Term Inflation-Protected Securities ETF
|COMMON S TOCKS (39.87%)
||Devon Energy Corporation
||General Dynamics Corporation
||Merck & Co., Inc.
||Regions Financial Corporation
||Steel Dynamics, Inc.
||TE Connectivity Ltd.
||Texas Instruments Incorporated
||Tyson Foods, Inc.
||Union Pacific Corporation
||United Parcel Service, Inc.
* As of the close of business on 9/26/22.
Market values are for reference only and are not indicative of your individual
|Not FDIC Insured Not Bank Guaranteed May Lose Value
|Initial Date of Deposit
|Initial Public Offering Price
||$10.00 per Unit
|Portfolio Ending Date
|Historical 12-Month Distribution Rate of Trust Holdings:*
|Historical 12-Month Distribution Per Unit:*
|Fee Accounts Cash CUSIP
|Fee Accounts Reinvestment CUSIP
*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 12-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. 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 12 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.
|Sales Charges (based on a $10 public offering
|Transactional Sales Charges
|Creation & Development Fee (C&D Fee)
|Maximum Sales Charge
|Maximum Sales Charge
The deferred sales charge will be deducted in three monthly installments commencing 1/20/23. When the
public offering price is less than or equal to $10.00 per unit, there will be no initial sales charge. If the price
exceeds $10.00 per unit, you will pay an initial sales charge. The maximum sales charge for investors in fee
accounts consists of the C&D fee. Investors in fee accounts are not assessed any transactional sales charges.
Standard accounts sales charges apply to units purchased as an ineligible asset. 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%. In addition to the sales charges listed, UITs are subject to annual operating expenses and
You should carefully consider the portfolio investment objective, 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 portfolio. Read it carefully
before you invest.
An investment in this unmanaged unit investment trust should be made
with an understanding of the risks involved with an investment in a portfolio of common stocks and ETFs.
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.
Common stocks are 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.
Certain of the ETFs invest in convertible securities. Convertible securities are bonds, preferred stocks and
other securities that pay a fixed rate of interest (or dividends) and will repay principal at a fixed date in the
future. However, these securities may be converted into a specific number of common stocks at a specified
time. As such, an investment in convertible securities entails some of the risks associated with both common
stocks and bonds.
Certain of the ETFs invest in high-yield securities or “junk” bonds. 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.
Certain of the ETFs invest in limited duration bonds. Limited
duration bonds are subject to interest rate risk, which is the risk that the value of a security will fall if interest
rates increase. While limited duration bonds are generally subject to less interest rate sensitivity than longer
duration bonds, there can be no assurance that interest rates will rise during the life of the trust.
Certain of the ETFs invest in MLPs. MLPs are subject to the risks generally applicable to companies in the energy
and natural resources sectors, including commodity pricing risk, supply and demand risk, depletion risk and
exploration risk. U.S. taxing authorities could challenge the trust’s treatment of the MLPs for federal income
tax purposes. These tax risks could have a negative impact on the after-tax income available for distribution by
the MLPs and/or the value of the trust’s investments.
Certain of the ETFs invest in REITs. Companies involved in the real estate industry are subject to changes in the
real estate market, vacancy rates and competition, volatile interest rates and economic recession.
Certain of the ETFs invest in TIPS. TIPS are subject to numerous risks including changes in interest rates,
economic recession and deterioration of the bond market or investors’ perception thereof.
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.
In February 2022, Russia invaded Ukraine which has caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.
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.
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.
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.
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.
This unit investment trust is not an absolute return investment vehicle.
For a discussion of additional risks of investing in the trust see the “Risk Factors” section of the prospectus.