Strategic International Opportunity Portfolio, Series 15
Diversification is one of the principal advantages of global investing. Because global markets
often follow different cycles than the U.S. markets, investing globally may provide gains when
domestic markets are flat or declining. It is important to note that diversification does not
guarantee a profit or protect against loss.
Our goal with the Strategic International Opportunity Portfolio is to provide a convenient way to add an
international dimension to your investment portfolio, significantly expanding your investment
opportunities and potentially enhancing your overall return.
Portfolio Selection Process
This unit investment trust invests in a diversified portfolio of common stocks from four distinct
segments of the international market. Each segment contains stocks selected specifically for that
component of the allocation. Our stock selection process evaluates companies based on multiple factors.
These factors are designed to identify those stocks which exhibit strong fundamental characteristics and
to eliminate those that do not meet our investment criteria. Through our selection process we seek to
find the companies in each segment that we believe have the best prospects for above-average capital
appreciation. The four segments are weighted based on the allocation below.
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.
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.
Because the portfolio is concentrated in companies headquartered in Europe, the portfolio may present more
risks than a portfolio which is broadly diversified over several regions.
An investment in a portfolio containing equity securities of foreign issuers is subject to additional risks,
including currency fluctuations, political risks, withholding, the lack of adequate financial information, and
exchange control restrictions impacting foreign issuers. Risks associated with investing in foreign securities
may be more pronounced in emerging markets where the securities markets are substantially smaller, less
liquid, less regulated and more volatile than the U.S. and developed foreign markets.
On January 31, 2020, the United Kingdom officially departed the European Union (commonly referred to as
“Brexit”). Brexit has led to volatility in global financial markets, in particular those of the United Kingdom
and across Europe, and may also lead to weakening in political, regulatory, consumer, corporate and financial
confidence in the United Kingdom and Europe.
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.
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.
The recent outbreak of a respiratory disease designated as COVID-19 was first detected in China in December
2019. The global economic impact of the COVID-19 outbreak is impossible to predict but is expected to
disrupt manufacturing, supply chains and sales in affected areas and negatively impact global economic
growth prospects. The COVID-19 outbreak has also caused significant volatility and declines in global
financial markets, which have caused losses for investors. The impact of the COVID-19 outbreak may be short
term or may last for an extended period of time, and in either case could result in a substantial economic
downturn or recession.
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.
Although this portfolio 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.