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75/25 Strategic Allocation, 1st Qtr 2026  Ticker: FRUZIX
 
Description
A unit investment trust which seeks the potential for above-average total return by investing approximately 75% of its assets in common stocks which are selected by applying a disciplined investment strategy and 25% 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: 7S1Q26
Portfolio Status: Secondary
Initial Offer Date: 01/13/2026
Secondary Date: 04/13/2026
Portfolio Ending Date: 04/16/2027
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $10.0567
POP(*): $10.1943
Remaining Deferred Sales Charge: $0.0900
* As of Trade Date: 05/01/2026 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.

 Historical 12-Month Distribution of Trust Holdings:^
Rate (as of 5/1/2026) Per Unit (as of 4/27/2026)
2.31% $0.23510
^ 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 | View Initial Holdings  
NameSymbolWeighting
 Corning Incorporated GLW 1.14%
 State Street SPDR Bloomberg Investment Grade Floating Rate ETF FLRN 0.98%
 State Street SPDR Bloomberg High Yield Bond ETF JNK 0.97%
 Vanguard Mortgage-Backed Securities ETF VMBS 0.97%
 iShares 0-5 Year High Yield Corporate Bond ETF SHYG 0.97%
 VanEck IG Floating Rate ETF FLTR 0.97%
 Invesco Variable Rate Preferred ETF VRP 0.97%
 WisdomTree Floating Rate Treasury Fund USFR 0.97%
 Franklin High Yield Corporate ETF FLHY 0.97%
 VanEck J.P. Morgan EM Local Currency Bond ETF EMLC 0.96%
 PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund HYS 0.96%
 First Trust Preferred Securities and Income ETF FPE 0.96%
 State Street SPDR Bloomberg Short Term High Yield Bond ETF SJNK 0.96%
 State Street SPDR Portfolio Corporate Bond ETF SPBO 0.96%
 iShares Broad USD High Yield Corporate Bond ETF USHY 0.96%
 State Street SPDR Portfolio High Yield Bond ETF SPHY 0.96%
 Janus Henderson Mortgage-Backed Securities ETF JMBS 0.96%
 First Trust Limited Duration Investment Grade Corporate ETF FSIG 0.96%
 iShares High Yield Systematic Bond ETF HYDB 0.96%
 First Trust Core Investment Grade ETF FTCB 0.96%
 Vanguard Long-Term Corporate Bond ETF VCLT 0.95%
 Invesco Senior Loan ETF BKLN 0.95%
 iShares 10+ Year Investment Grade Corporate Bond ETF IGLB 0.95%
 State Street SPDR Portfolio Long Term Corporate Bond ETF SPLB 0.95%
 First Trust Tactical High Yield ETF HYLS 0.95%
 State Street SPDR Blackstone Senior Loan ETF SRLN 0.95%
 Targa Resources Corp. TRGP 0.91%
 Micron Technology, Inc. MU 0.90%
 Caterpillar Inc. CAT 0.88%
 Baker Hughes Company (Class A) BKR 0.88%
 Diamondback Energy, Inc. FANG 0.85%
 EOG Resources, Inc. EOG 0.81%
 ConocoPhillips COP 0.80%
 Exxon Mobil Corporation XOM 0.75%
 Chevron Corporation CVX 0.73%
 Ross Stores, Inc. ROST 0.71%
 Alphabet Inc. (Class A) GOOGL 0.71%
 The Coca-Cola Company KO 0.68%
 Walmart Inc. WMT 0.68%
 Consolidated Edison, Inc. ED 0.68%
 AMETEK, Inc. AME 0.68%
 eBay Inc. EBAY 0.67%
 CME Group Inc. CME 0.67%
 Amazon.com, Inc. AMZN 0.66%
 Costco Wholesale Corporation COST 0.65%
 Fastenal Company FAST 0.65%
 The Travelers Companies, Inc. TRV 0.65%
 PG&E Corporation PCG 0.64%
 Gilead Sciences, Inc. GILD 0.64%
 Keurig Dr Pepper Inc. KDP 0.64%
 The Allstate Corporation ALL 0.63%
 Strategy Incorporated (Class A) MSTR 0.62%
 Merck & Co., Inc. MRK 0.61%
 PACCAR Inc PCAR 0.61%
 Sysco Corporation SYY 0.61%
 BHP Group Limited (ADR) BHP 0.61%
 The TJX Companies, Inc. TJX 0.61%
 McKesson Corporation MCK 0.61%
 The Hartford Insurance Group, Inc. HIG 0.61%
 Elevance Health Inc. ELV 0.61%
 Shell Plc (ADR) SHEL 0.61%
 Newmont Corporation NEM 0.60%
 Monster Beverage Corporation MNST 0.60%
 D.R. Horton, Inc. DHI 0.59%
 Rio Tinto plc (ADR) RIO 0.59%
 Berkshire Hathaway Inc. (Class B) BRK/B 0.58%
 General Dynamics Corporation GD 0.58%
 Parker-Hannifin Corporation PH 0.58%
 Ameriprise Financial, Inc. AMP 0.58%
 Delta Air Lines, Inc. DAL 0.58%
 Comcast Corporation (Class A) CMCSA 0.57%
 Regeneron Pharmaceuticals, Inc. REGN 0.57%
 Vertex Pharmaceuticals Incorporated VRTX 0.57%
 Tokio Marine Holdings, Inc. (ADR) TKOMY 0.57%
 The Walt Disney Company DIS 0.56%
 The Progressive Corporation PGR 0.56%
 Fast Retailing Co., Ltd. (ADR) FRCOY 0.56%
 General Motors Company GM 0.56%
 Zoetis Inc. ZTS 0.56%
 Las Vegas Sands Corp. LVS 0.55%
 Anheuser-Busch InBev S.A./N.V. (ADR) BUD 0.55%
 HCA Healthcare, Inc. HCA 0.55%
 American Express Company AXP 0.54%
 Uber Technologies, Inc. UBER 0.54%
 Expedia Group, Inc. EXPE 0.52%
 Iberdrola, S.A. (ADR) IBDRY 0.52%
 Enel SpA (ADR) ENLAY 0.52%
 Novartis AG (ADR) NVS 0.51%
 Chubb Limited CB 0.51%
 Vinci S.A. (ADR) VCISY 0.51%
 GSK Plc (ADR) GSK 0.50%
 Muenchener Rueckversicherungs-Gesellschaft AG (MunichRe) (ADR) MURGY 0.50%
 Automatic Data Processing, Inc. ADP 0.49%
 Banco Santander S.A. (ADR) SAN 0.49%
 Chugai Pharmaceutical Co., Ltd. (ADR) CHGCY 0.49%
 AstraZeneca Plc AZN 0.49%
 Agnico Eagle Mines Limited AEM 0.47%
 Sanofi (ADR) SNY 0.47%
 NTT, Inc. (ADR) NTTYY 0.46%
 Becton, Dickinson and Company BDX 0.45%
 International Business Machines Corporation IBM 0.45%
 HEICO Corporation HEI 0.45%
 Itochu Corp. (ADR) ITOCY 0.45%
 Banco Bilbao Vizcaya Argentaria, S.A. (ADR) BBVA 0.44%
 Industria de Diseno Textil, S.A. (ADR) IDEXY 0.43%
 Toyota Motor Corporation TM 0.42%
 PDD Holdings Inc. (ADR) PDD 0.41%
 Barrick Mining Corporation B 0.39%
 IQVIA Holdings Inc. IQV 0.39%
 Cognizant Technology Solutions Corporation CTSH 0.38%
 IES Holdings, Inc. IESC 0.37%
 Permian Resources Corp. PR 0.37%
 Recruit Holdings Co., Ltd. (ADR) RCRUY 0.37%
 Prosus N.V. (ADR) PROSY 0.36%
 Devon Energy Corporation DVN 0.35%
 Coterra Energy Inc. CTRA 0.35%
 Rheinmetall AG (ADR) RNMBY 0.35%
 Novo Nordisk A/S (ADR) NVO 0.34%
 Casey's General Stores, Inc. CASY 0.33%
 Coca-Cola Consolidated, Inc. COKE 0.33%
 Primoris Services Corporation PRIM 0.33%
 Range Resources Corporation RRC 0.31%
 EMCOR Group, Inc. EME 0.31%
 Accenture plc ACN 0.31%
 United Therapeutics Corporation UTHR 0.30%
 Antero Resources Corporation AR 0.30%
 Fluor Corporation FLR 0.29%
 NOV Inc. NOV 0.29%
 Dycom Industries, Inc. DY 0.29%
 Kirby Corporation KEX 0.29%
 Edison International EIX 0.28%
 Lumen Technologies, Inc. LUMN 0.27%
 Snap-on Incorporated SNA 0.27%
 Mueller Industries, Inc. MLI 0.27%
 The New York Times Company (Class A) NYT 0.27%
 Argan, Inc. AGX 0.27%
 Globe Life Inc. GL 0.26%
 SEI Investments Company SEIC 0.26%
 The Hanover Insurance Group, Inc. THG 0.26%
 The Ensign Group, Inc. ENSG 0.26%
 Cincinnati Financial Corporation CINF 0.25%
 Biogen Inc. BIIB 0.25%
 Lear Corporation LEA 0.25%
 Sprouts Farmers Market, Inc. SFM 0.25%
 VICI Properties Inc. VICI 0.25%
 BJ's Wholesale Club Holdings, Inc. BJ 0.25%
 Urban Outfitters, Inc. URBN 0.24%
 Toll Brothers, Inc. TOL 0.24%
 Ingredion Incorporated INGR 0.24%
 Exelixis, Inc. EXEL 0.24%
 Deckers Outdoor Corporation DECK 0.24%
 SouthState Bank Corporation SSB 0.24%
 Globus Medical, Inc. (Class A) GMED 0.24%
 MGIC Investment Corporation MTG 0.23%
 Darden Restaurants, Inc. DRI 0.23%
 NewMarket Corporation NEU 0.23%
 BioMarin Pharmaceutical Inc. BMRN 0.23%
 Krystal Biotech, Inc. KRYS 0.23%
 Incyte Corporation INCY 0.22%
 Patterson-UTI Energy, Inc. PTEN 0.22%
 Expeditors International of Washington, Inc. EXPD 0.22%
 PulteGroup, Inc. PHM 0.22%
 InterDigital, Inc. IDCC 0.22%
 The Mosaic Company MOS 0.22%
 SM Energy Company SM 0.21%
 Mohawk Industries, Inc. MHK 0.21%
 Texas Roadhouse, Inc. TXRH 0.21%
 First Solar, Inc. FSLR 0.21%
 Liberty Energy Inc. (Class A) LBRT 0.21%
 Fox Corporation (Class A) FOXA 0.21%
 Jack Henry & Associates, Inc. JKHY 0.20%
 Abercrombie & Fitch Co. (Class A) ANF 0.20%
 Remitly Global, Inc. RELY 0.20%
 Universal Health Services, Inc. (Class B) UHS 0.19%
 Plexus Corp. PLXS 0.19%
 Erie Indemnity Company ERIE 0.19%
 Archrock, Inc. AROC 0.19%
 Bright Horizons Family Solutions Inc. BFAM 0.19%
 Ulta Beauty, Inc. ULTA 0.19%
 Terns Pharmaceuticals, Inc. TERN 0.19%
 Clear Secure, Inc. (Class A) YOU 0.19%
 Photronics, Inc. PLAB 0.18%
 StoneX Group Inc. SNEX 0.18%
 Matador Resources Company MTDR 0.18%
 Medpace Holdings, Inc. MEDP 0.17%
 Murphy Oil Corporation MUR 0.16%
 EnerSys ENS 0.16%
 Matson, Inc. MATX 0.16%
 Tri Pointe Homes, Inc. TPH 0.16%
 UniFirst Corporation UNF 0.15%
 Rush Enterprises, Inc. (Class A) RUSHA 0.15%
 NetScout Systems, Inc. NTCT 0.15%
 Catalyst Pharmaceuticals, Inc. CPRX 0.15%
 Compass, Inc. (Class A) COMP 0.15%
 Harley-Davidson, Inc. HOG 0.14%
 PriceSmart, Inc. PSMT 0.14%
 AZZ Inc. AZZ 0.14%
 UiPath, Inc. (Class A) PATH 0.14%
 Otter Tail Corporation OTTR 0.13%
 WaFd Inc. WAFD 0.13%
 Radian Group Inc. RDN 0.13%
 Waters Corporation WAT 0.13%
 CNX Resources Corporation CNX 0.13%
 Federated Hermes, Inc. (Class B) FHI 0.13%
 Mercury General Corporation MCY 0.13%
 Cal-Maine Foods, Inc. CALM 0.13%
 International Bancshares Corporation IBOC 0.13%
 Avista Corporation AVA 0.13%
 Portland General Electric Company POR 0.13%
 Apple Hospitality REIT, Inc. APLE 0.13%
 Cactus, Inc. (Class A) WHD 0.13%
 Privia Health Group, Inc. PRVA 0.13%
 Enact Holdings, Inc. ACT 0.13%
 Brady Corporation BRC 0.12%
 Covista Inc. CVSA 0.12%
 The Western Union Company WU 0.12%
 Grand Canyon Education, Inc. LOPE 0.12%
 OPENLANE Inc. OPLN 0.12%
 NMI Holdings, Inc. (Class A) NMIH 0.12%
 ACI Worldwide, Inc. ACIW 0.11%
 M/I Homes, Inc. MHO 0.11%
 Strategic Education, Inc. STRA 0.11%
 Hub Group, Inc. HUBG 0.11%
 Dorman Products, Inc. DORM 0.11%
 Taylor Morrison Home Corporation TMHC 0.11%
 Palomar Holdings, Inc. PLMR 0.11%
 KB Home KBH 0.10%
 Champion Homes Inc. SKY 0.10%
 CorVel Corporation CRVL 0.10%
 ACADIA Pharmaceuticals Inc. ACAD 0.10%
 Laureate Education, Inc. (Class A) LAUR 0.10%
 The Marzetti Company MZTI 0.09%
 Haemonetics Corporation HAE 0.09%
 DXC Technology Company DXC 0.09%
 MAXIMUS, Inc. MMS 0.08%
 The Simply Good Foods Company SMPL 0.08%
 
Total Number of Holdings:    236
Underlying Securities information represented above is as of 04/30/2026 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.04500 April 20, 2026
$0.04500 May 20, 2026
$0.04500 June 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.

Brexit Risk. The United Kingdom's official departure from the European Union (commonly referred to as "Brexit") led to volatility in global financial markets, in particular those of the United Kingdom and across Europe, and the weakening in political, regulatory, consumer, corporate and financial confidence in the United Kingdom and Europe. It is not currently possible to determine the extent of the impact that Brexit may have on the portfolio's investments and this uncertainty could negatively impact current and future economic conditions in the United Kingdom and other countries, which could negatively impact the value of the portfolio's investments.

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 Risk. Market risk is the risk that a particular security, or units of a trust in general may fall in value. Securities are subject to market fluctuations caused by such factors as general economic conditions, political events, regulatory or market developments, changes in interest rates, and perceived trends in securities prices. Units of a trust could decline in value or underperform other investments as a result. In addition, local, regional, or global events such as war, acts of terrorism, spread of infectious disease or other public health issues, recessions, natural disasters, or other events could have significant negative impact on a trust.

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.

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.

Fund Cusip Information
30343H402 (Cash)
30343H410 (Reinvest)
30343H428 (Cash-Fee)
30343H436 (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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