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American Agenda, Series 28

While most voters focus on the current state of affairs when casting their ballots in U.S. presidential and midterm elections, equity investors tend to concentrate on the impact an election may have on fiscal and monetary policy that can influence future economic growth. Seeing the big picture can help investors to stay focused on long-term investment goals.

The outcome of U.S. elections can have an impact on different sectors and industries. Our analysts at First Trust have identified certain areas of the market that we believe may offer strong relative value and growth potential under the current administration.

  • Aerospace & Defense | Aerospace is largely comprised of companies involved in the production, sale, and service of commercial aircraft. Air travel has continued to increase with average daily checkpoint travel numbers of nearly 2.4 million in 2023 compared to an average of 1.6 million in 2021 and 2.1 million in 2022.1 The defense market is dependent on a nation’s need for military weapons and systems designed to operate on land, sea, and in the air. The United States military is unquestionably the dominant force in the world. Defense spending is expected to increase around the globe, as nations continue to strengthen their militaries in response to heightened geopolitical tensions.2

  • Clean Energy | Clean energy is developed from renewable, zero-emissions sources, as well as energy that is stored through energy efficiency measures. As opposed to coal and oil, clean energy does not pollute the atmosphere. The clean energy industry generates hundreds of billions in economic activity and is anticipated to grow rapidly in the coming years.3 The potential for economic opportunity may exist for companies that invent, manufacture and export clean energy technologies.

  • Energy | U.S. energy consumption is anticipated to increase through 2050 due to economic growth, population growth, and increased travel. In addition, with higher international demand, the U.S. is expected to remain a net exporter of petroleum products and natural gas through 2050.4

  • Financials | We believe the trend that has perhaps had the most notable impact on this sector is industry consolidation, and that improved efficiency, lower operating costs, and increased volume are a few of the benefits. Consolidation across the financials sector could continue to play an important role as institutions react to regulatory mandates and competitive opportunities both here in the U.S. and abroad.

  • Health Care | From 2022-2031, it is projected that health care spending will grow at an average rate of 5.4% annually.5 In the last decade, biopharmaceutical companies have invested more than $1 trillion in research and development. In addition, there are currently approximately 8,000 medicines in clinical development around the world. Of these, 70% have the potential to be first-in-class treatments, which represents an entirely new approach to treating a disease.6

  • Information Technology | Gartner forecasts worldwide IT spending to total approximately $5 trillion in 2024, an increase of 6.8% from 2023. In addition, global end-user spending on public cloud services is anticipated to grow by 20.4% to reach approximately $678.8 billion in 2024, up from $563.6 billion in 2023.

  • U.S. Infrastructure | Infrastructure is the foundation that connects U.S. businesses and enables communities to prosper. For decades, the U.S. has been under-investing in our infrastructure. To close the nearly $2.6 trillion 10-year investment gap, meet future need, and restore our global competitive advantage, the U.S. must increase investment from all levels of government and the private sector from approximately 2.5% to 3.5% of U.S. Gross Domestic Product by 2025.77

2 Deloitte, 2023 Aerospace and Defense Industry Outlook
3 U.S. Department of Energy
4 U.S. Energy Information Administration, Annual Energy Outlook 2023
5 CMS.gov
7 American Society of Civil Engineers

Portfolio Objective

This unit investment trust seeks above-average capital appreciation; however, there is no assurance the objective will be met.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value

You should consider the portfolio's investment objectives, risks, and charges and expenses carefully 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 owning common stocks, 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.

An investment in a portfolio containing mid-cap companies is subject to additional risks, as the share prices of 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.

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

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.

Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups 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.

The ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease.

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.


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, ©2024 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.

Fund Cusip Information
30335K702 (Cash)
30335K710 (Reinvest)
30335K728 (Cash-Fee)
30335K736 (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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