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Interest Rate Hedge Portfolio, Series 146
Ticker Symbol: FFGGVX

38 Holdings (As of Day of Deposit)
Ticker Name Initial
Weight
Price*
EXCHANGE-TRADED FUNDS (60.13%)
AMLP Alerian MLP ETF 6.66% $34.79
FCVT First Trust SSI Strategic Convertible Securities ETF 3.32% 31.28
TDTT FlexShares iBoxx 3-Year Target Duration TIPS Index Fund 2.50% 23.40
FLHY Franklin High Yield Corporate ETF 2.50% 21.50
FLBL Franklin Senior Loan ETF 2.50% 23.20
MLPA Global X MLP ETF 6.65% 37.51
AMZA InfraCap MLP ETF 6.73% 26.79
KBWY Invesco KBW Premium Yield Equity REIT ETF 2.51% 19.11
VRP Invesco Variable Rate Preferred ETF 2.52% 22.26
SHYG iShares 0-5 Year High Yield Corporate Bond ETF 2.50% 39.86
ICVT iShares Convertible Bond ETF 3.34% 68.64
USRT iShares Core US REIT ETF 2.52% 47.89
REET iShares Global REIT ETF 2.51% 21.36
SRLN SPDR Blackstone Senior Loan ETF 2.50% 41.33
CWB SPDR Bloomberg Barclays Convertible Securities ETF 3.34% 63.52
RWR SPDR Dow Jones REIT ETF 2.52% 84.91
SPHY SPDR Portfolio High Yield Bond ETF 2.50% 21.82
VTIP Vanguard Short-Term Inflation-Protected Securities ETF 2.51% 48.23
COMMON S TOCKS (39.87%)
ABT Abbott Laboratories 2.01% $99.84
BLK BlackRock, Inc. 1.96% 584.65
CVX Chevron Corporation 1.97% 140.96
CI Cigna Corporation 2.01% 276.80
CMA Comerica Incorporated 2.00% 73.04
COP ConocoPhillips 2.00% 99.20
DVN Devon Energy Corporation 1.98% 55.18
FMC FMC Corporation 1.96% 103.29
GD General Dynamics Corporation 1.97% 220.43
MRK Merck & Co., Inc. 1.98% 86.18
PH Parker-Hannifin Corporation 2.01% 239.98
QCOM QUALCOMM Incorporated 2.01% 119.74
RF Regions Financial Corporation 2.00% 20.69
STLD Steel Dynamics, Inc. 1.99% 69.68
TGT Target Corporation 2.00% 148.71
TEL TE Connectivity Ltd. 2.03% 113.39
TXN Texas Instruments Incorporated 1.97% 160.46
TSN Tyson Foods, Inc.  2.01% 68.95
UNP Union Pacific Corporation 2.02% 200.86
UPS United Parcel Service, Inc.  1.99% 161.75

* As of the close of business on 9/26/22.
Market values are for reference only and are not indicative of your individual cost basis.


Not FDIC Insured • Not Bank Guaranteed • May Lose Value

Portfolio Summary
Initial Date of Deposit 9/27/2022
Initial Public Offering Price $10.00 per Unit
Portfolio Ending Date 9/27/2024
Historical 12-Month Distribution Rate of Trust Holdings:* 4.31%
Historical 12-Month Distribution Per Unit:* $0.4309
Cash CUSIP 30328H740
Reinvestment CUSIP 30328H757
Fee Accounts Cash CUSIP 30328H765
Fee Accounts Reinvestment CUSIP 30328H773

*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 price)
Standard Accounts
Transactional Sales Charges Initial: 0.00%
  Deferred: 2.25%
Creation & Development Fee (C&D Fee)   0.50%
Maximum Sales Charge   2.75%
Fee/Wrap Accounts
Maximum Sales Charge   0.50%

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 organization costs.

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.

Risk Considerations
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.

 

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, ©2022 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.

Fund Cusip Information
30328H740 (Cash)
30328H757 (Reinvest)
30328H765 (Cash-Fee)
30328H773 (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.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
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