Target VIP, 1st Qtr 2026  Ticker: FKADXX
 
Description
A unit investment trust that seeks above-average total return; however, there is no assurance the objective will be met. The portfolio provides you with the convenience of owning six distinct strategies in one investment. It invests in a fixed portfolio of stocks which are selected by applying pre-determined screens and factors.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: VP1Q26
Portfolio Status: Primary
Initial Offer Date: 01/12/2026
Portfolio Ending Date: 04/09/2027
Tax Structure: Regulated Investment Company
Distributions: Semi-Annual
 
Initial Offer Price: $10.0000
NAV(*): $9.8484
POP(*): $9.9831
Remaining Deferred Sales Charge: $0.1350
Remaining Fees & Expenses
C&D Fee:** $0.0500
Estimated Organization Costs:** $0.0420
* As of Trade Date: 01/14/2026 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.
** 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%.Estimated organization costs will be deducted from the assets of the trust at the earlier of six months after the initial date of deposit or the end of the initial offering period.Estimated organization costs are assessed on a fixed dollar amount per unit basis which, as a percentage of average net assets, will vary over time.Actual expenses may be more or less than the estimates.Please see "Fee Table" in the trust prospectus for additional information.
If units are redeemed prior to the time when these fees are collected, these fees will not be deducted from the redemption proceeds.

 Historical 12-Month Distribution of Trust Holdings:^
Rate (as of 1/14/2026) Per Unit (as of 1/8/2026)
1.38% $0.13820
^ 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 Analysis Click here to Perform a Benchmark Comparison  
 Sector Weighting
Communication Services  Communication Services 15.74%
Consumer Discretionary  Consumer Discretionary 7.67%
Consumer Staples  Consumer Staples 5.25%
Energy  Energy 3.80%
Financials  Financials 11.47%
Health Care  Health Care 12.39%
Industrials  Industrials 10.67%
Information Technology  Information Technology 28.00%
Materials  Materials 2.83%
Real Estate  Real Estate 0.00%
Utilities  Utilities 2.18%
Other  Other 0.00%
 
  Large Mid Small  
Growth  49.10% 2.50% 12.64%  
Value  29.11% 1.73% 4.92%  

 Style Weighting
Large-Cap Growth 49.10%
Large-Cap Value 29.11%
Mid-Cap Growth 2.50%
Mid-Cap Value 1.73%
Small-Cap Growth 12.64%
Small-Cap Value 4.92%
Undetermined 0.00%
 Composition
U.S. Stocks 78.52%   Other 0.00%
Non-U.S. Stocks 21.48%      
The style and sector characteristics of the portfolio are determined as of 01/09/2026 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $856,533
Price/Earnings 20.57
Price/Book 3.09
As of 1/13/2026
All market capitalization numbers are in USD$ Millions. All figures are subject to change.

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolSectorStyleWeighting
 Apple Inc. AAPL Information Technology  Information Technology Large-Cap Growth 8.30%
 Alphabet Inc. (Class A) GOOGL Communication Services  Communication Services Large-Cap Growth 6.15%
 Lam Research Corporation LRCX Information Technology  Information Technology Large-Cap Growth 4.38%
 Micron Technology, Inc. MU Information Technology  Information Technology Large-Cap Growth 4.36%
 Alphabet Inc. (Class C) GOOG Communication Services  Communication Services Large-Cap Growth 4.15%
 Merck & Co., Inc. MRK Health Care  Health Care Large-Cap Growth 3.33%
 UnitedHealth Group Incorporated UNH Health Care  Health Care Large-Cap Value 3.33%
 Verizon Communications Inc. VZ Communication Services  Communication Services Large-Cap Value 3.33%
 The Procter & Gamble Company PG Consumer Staples  Consumer Staples Large-Cap Growth 3.33%
 3M Company MMM Industrials  Industrials Large-Cap Growth 3.33%
 Applied Materials, Inc. AMAT Information Technology  Information Technology Large-Cap Growth 2.65%
 Applovin Corp. (Class A) APP Information Technology  Information Technology Large-Cap Growth 2.44%
 ASML Holding N.V. (New York Registry Shares) ASML Information Technology  Information Technology Large-Cap Growth 1.71%
 O’Reilly Automotive, Inc. ORLY Consumer Discretionary  Consumer Discretionary Large-Cap Value 1.14%
 The Hartford Insurance Group, Inc. HIG Financials  Financials Large-Cap Value 1.00%
 Caterpillar Inc. CAT Industrials  Industrials Large-Cap Growth 0.95%
 HCA Healthcare, Inc. HCA Health Care  Health Care Large-Cap Value 0.94%
 Newmont Corporation NEM Materials  Materials Large-Cap Value 0.92%
 Willis Towers Watson Plc WTW Financials  Financials Mid-Cap Growth 0.84%
 BP Plc BP/.LN Energy  Energy Large-Cap Value 0.83%
 British American Tobacco p.l.c. BATS.LN Consumer Staples  Consumer Staples Large-Cap Value 0.83%
 BASF SE BAS.GY Materials  Materials Large-Cap Value 0.83%
 Eni SpA ENI.IM Energy  Energy Large-Cap Value 0.83%
 TotalEnergies SE TTE.FP Energy  Energy Large-Cap Value 0.83%
 BNP Paribas S.A. BNP.FP Financials  Financials Large-Cap Value 0.83%
 Mercedes-Benz Group AG MBG.GY Consumer Discretionary  Consumer Discretionary Large-Cap Value 0.83%
 Orange ORA.FP Communication Services  Communication Services Large-Cap Value 0.83%
 Enel SpA ENEL.IM Utilities  Utilities Large-Cap Value 0.83%
 Equinor ASA EQNR.NO Energy  Energy Large-Cap Value 0.83%
 Intesa Sanpaolo SpA ISP.IM Financials  Financials Large-Cap Value 0.83%
 ING Groep N.V. INGA.NA Financials  Financials Large-Cap Value 0.83%
 AXA S.A. CS.FP Financials  Financials Large-Cap Value 0.83%
 Engie S.A. ENGI.FP Utilities  Utilities Large-Cap Value 0.83%
 Volkswagen AG VOW.GY Consumer Discretionary  Consumer Discretionary Large-Cap Value 0.83%
 Credit Agricole S.A. ACA.FP Financials  Financials Large-Cap Value 0.83%
 Volvo AB (Class B) VOLVB.SS Industrials  Industrials Large-Cap Value 0.83%
 Skandinaviska Enskilda Banken AB (Class A) SEBA.SS Financials  Financials Large-Cap Value 0.83%
 Nordea Bank Abp NDA.FH Financials  Financials Large-Cap Value 0.83%
 DNB Bank ASA DNB.NO Financials  Financials Large-Cap Value 0.83%
 IDEXX Laboratories, Inc. IDXX Health Care  Health Care Large-Cap Growth 0.69%
 KLA Corporation KLAC Information Technology  Information Technology Large-Cap Growth 0.63%
 PDD Holdings Inc. (ADR) PDD Consumer Discretionary  Consumer Discretionary Large-Cap Value 0.62%
 Perdoceo Education Corporation PRDO Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.58%
 Innodata, Inc. INOD Industrials  Industrials Small-Cap Growth 0.58%
 Loews Corporation L Financials  Financials Mid-Cap Value 0.57%
 Gilead Sciences, Inc. GILD Health Care  Health Care Large-Cap Growth 0.56%
 Sprinklr, Inc. (Class A) CXM Information Technology  Information Technology Small-Cap Growth 0.55%
 UFP Technologies, Inc. UFPT Health Care  Health Care Small-Cap Growth 0.54%
 Federal Agricultural Mortgage Corporation (Class C) AGM Financials  Financials Small-Cap Value 0.53%
 V2X Inc. VVX Industrials  Industrials Small-Cap Growth 0.53%
 H2O America HTO Utilities  Utilities Small-Cap Value 0.52%
 LegalZoom.com, Inc. LZ Industrials  Industrials Small-Cap Growth 0.52%
 LiveRamp Holdings, Inc. RAMP Information Technology  Information Technology Small-Cap Growth 0.51%
 MannKind Corporation MNKD Health Care  Health Care Small-Cap Value 0.51%
 WisdomTree, Inc. WT Financials  Financials Small-Cap Growth 0.51%
 TripAdvisor, Inc. TRIP Communication Services  Communication Services Small-Cap Growth 0.49%
 ANI Pharmaceuticals, Inc. ANIP Health Care  Health Care Small-Cap Growth 0.48%
 DXP Enterprises, Inc. DXPE Industrials  Industrials Small-Cap Growth 0.47%
 Pathward Financial, Inc. CASH Financials  Financials Small-Cap Growth 0.47%
 Exxon Mobil Corporation XOM Energy  Energy Large-Cap Value 0.45%
 Altria Group, Inc. MO Consumer Staples  Consumer Staples Large-Cap Value 0.44%
 Winmark Corporation WINA Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.44%
 Ameresco, Inc. (Class A) AMRC Industrials  Industrials Small-Cap Value 0.44%
 Arhaus, Inc. (Class A) ARHS Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.44%
 Collegium Pharmaceutical, Inc. COLL Health Care  Health Care Small-Cap Growth 0.43%
 Blue Bird Corporation BLBD Industrials  Industrials Small-Cap Growth 0.43%
 Ulta Beauty, Inc. ULTA Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.43%
 Innoviva, Inc. INVA Health Care  Health Care Small-Cap Value 0.42%
 Universal Technical Institute, Inc. UTI Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.42%
 Napco Security Technologies, Inc. NSSC Information Technology  Information Technology Small-Cap Growth 0.42%
 Arlo Technologies, Inc. ARLO Information Technology  Information Technology Small-Cap Growth 0.42%
 Shoals Technologies Group, Inc. (Class A) SHLS Industrials  Industrials Small-Cap Growth 0.42%
 CRA International, Inc. CRAI Industrials  Industrials Small-Cap Growth 0.40%
 American Superconductor Corporation AMSC Industrials  Industrials Small-Cap Growth 0.40%
 TriMas Corporation TRS Materials  Materials Small-Cap Growth 0.40%
 AdaptHealth Corp. AHCO Health Care  Health Care Small-Cap Value 0.40%
 Parker-Hannifin Corporation PH Industrials  Industrials Large-Cap Growth 0.39%
 Teradyne, Inc. TER Information Technology  Information Technology Large-Cap Growth 0.37%
 EZCORP, Inc. EZPW Financials  Financials Small-Cap Value 0.37%
 Biglari Holdings Inc. (Class A) BH/A Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.37%
 Monster Beverage Corporation MNST Consumer Staples  Consumer Staples Large-Cap Growth 0.35%
 Williams-Sonoma, Inc. WSM Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.34%
 Root, Inc. (Class A) ROOT Financials  Financials Small-Cap Growth 0.33%
 Pacira BioSciences, Inc. PCRX Health Care  Health Care Small-Cap Value 0.32%
 BJ’s Restaurants, Inc. BJRI Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.26%
 Mettler-Toledo International Inc. MTD Health Care  Health Care Mid-Cap Value 0.26%
 EverQuote, Inc. (Class A) EVER Communication Services  Communication Services Small-Cap Growth 0.26%
 American Axle & Manufacturing Holdings, Inc. AXL Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.23%
 Build-A-Bear Workshop, Inc. BBW Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.23%
 Daily Journal Corporation DJCO Information Technology  Information Technology Small-Cap Growth 0.23%
 Sun Country Airlines Holdings, Inc. SNCY Industrials  Industrials Small-Cap Value 0.23%
 LendingTree, Inc. TREE Financials  Financials Small-Cap Growth 0.21%
 Celestica Inc. CLS Information Technology  Information Technology Large-Cap Growth 0.18%
 Medpace Holdings, Inc. MEDP Health Care  Health Care Mid-Cap Growth 0.18%
 Lumen Technologies, Inc. LUMN Communication Services  Communication Services Mid-Cap Value 0.17%
 Kohl’s Corporation KSS Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.17%
 Hecla Mining Company HL Materials  Materials Mid-Cap Growth 0.17%
 Kinross Gold Corporation KGC Materials  Materials Large-Cap Value 0.17%
 Western Digital Corporation WDC Information Technology  Information Technology Large-Cap Growth 0.17%
 Macy's, Inc. M Consumer Discretionary  Consumer Discretionary Mid-Cap Value 0.17%
 Millicom International Cellular S.A. TIGO Communication Services  Communication Services Mid-Cap Value 0.17%
 Amkor Technology, Inc. AMKR Information Technology  Information Technology Mid-Cap Value 0.17%
 EnerSys ENS Industrials  Industrials Small-Cap Growth 0.17%
 Herbalife Ltd. HLF Consumer Staples  Consumer Staples Small-Cap Value 0.17%
 Sterling Infrastructure, Inc. STRL Industrials  Industrials Mid-Cap Growth 0.17%
 Comfort Systems USA, Inc. FIX Industrials  Industrials Large-Cap Growth 0.17%
 Sally Beauty Holdings, Inc. SBH Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.17%
 Monolithic Power Systems, Inc. MPWR Information Technology  Information Technology Large-Cap Growth 0.17%
 Fabrinet FN Information Technology  Information Technology Mid-Cap Growth 0.17%
 Seagate Technology Holdings Plc STX Information Technology  Information Technology Large-Cap Value 0.17%
 Hudbay Minerals Inc. HBM Materials  Materials Mid-Cap Value 0.17%
 IHS Holding Limited IHS Communication Services  Communication Services Small-Cap Value 0.17%
 AngloGold Ashanti Plc AU Materials  Materials Large-Cap Growth 0.17%
 Ferrovial SE FER Industrials  Industrials Large-Cap Growth 0.17%
 Dollar Tree, Inc. DLTR Consumer Staples  Consumer Staples Mid-Cap Growth 0.13%
 Expeditors International of Washington, Inc. EXPD Industrials  Industrials Mid-Cap Growth 0.07%
 Devon Energy Corporation DVN Energy  Energy Mid-Cap Value 0.02%
 Fox Corporation (Class A) FOXA Communication Services  Communication Services Mid-Cap Value 0.02%
 APA Corporation APA Energy  Energy Mid-Cap Value 0.01%
 Match Group Inc. MTCH Communication Services  Communication Services Mid-Cap Value 0.00%
 
Total Number of Holdings:    120
Underlying Securities information represented above is as of 01/09/2026 but will vary with future fluctuations in the market.

 Standard Account Sales Charges *
Transactional sales charges: Initial:  0.00%
  Deferred:  1.35%
C&D Fee:    0.50%
Maximum Sales Charge:   1.85%
CUSIP Type Distribution
30343G529 Cash Semi-Annual
30343G537 Reinvest Semi-Annual
* Based on the offer price as of 01/14/2026 4:00pm ET

 Fee/Wrap Account Sales Charges *
C&D Fee:    0.51%
Maximum Sales Charge:   0.51%
CUSIP Type Distribution
30343G545 Cash-Fee Semi-Annual
30343G552 Reinvest-Fee Semi-Annual
* Based on the NAV price as of 01/14/2026 4:00pm ET

 Estimated Fees & Expenses *
Estimated Organization Costs 0.420%
Estimated Annual Trust Operating Expenses 0.271%
As of Initial Offer Date
* 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%.Estimated organization costs will be deducted from the assets of the trust at the earlier of six months after the initial date of deposit or the end of the initial offering period.Estimated organization costs and trust operating expenses are assessed on a fixed dollar amount per unit basis which, as a percentage of average net assets, will vary over time.Actual expenses may be more or less than the estimates.Please see "Fee Table" in the trust prospectus for additional information.

 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.

Sector Concentration Risk. A portfolio which is concentrated in an individual sector is subject to additional risks, including limited diversification.

Buy & Hold Risk – Taxable Trusts. 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.

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.

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

Market Disruption Risk. 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.

Public Health Crisis Risk. A public health crisis, and the ensuing policies enacted by governments and central banks in response, could cause significant volatility and uncertainty in global financial markets, negatively impacting global growth prospects.

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.

Technology Risk. The companies engaged in the information technology sector are subject to fierce competition, high research and development costs, and their products and services may be subject to rapid obsolescence. Technology company stocks, especially those which are Internet-related, may experience extreme price and volume fluctuations that are often unrelated to their operating performance.

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.

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.

The style and capitalization characteristics used to describe the stocks are designed to help you understand how they fit into your overall investment plan. Due to changes in the value of the stocks the characteristics may vary over time. In general, growth stocks have high relative price-to-book ratios while value stocks have low relative price-to-book ratios. In determining market capitalization characteristics, we analyze the market capitalizations of the 3,000 largest stocks in the U.S. (excluding foreign securities, ADRs, limited partnerships and regulated investment companies) on a monthly basis. Companies with market capitalizations among the largest 10% are considered Large-Cap securities, the next 20% are considered Mid-Cap securities and the remaining securities are considered Small-Cap securities.

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.

The Dow Jones Industrial Average is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by First Trust Portfolios L.P. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by First Trust Portfolios L.P. This product is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product nor do they have any liability for any errors, omissions, or interruptions of the Dow Jones Industrial Average.

The Nasdaq 100®, Nasdaq 100 Index®, and Nasdaq® are trade or service marks of Nasdaq, Inc. (which with its affiliates are the Corporations) and are licensed for use by First Trust Portfolios L.P. The portfolio has not been passed on by the Corporations as to its legality or suitability. The portfolio is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PORTFOLIO.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by First Trust Portfolios L.P. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by First Trust Portfolios L.P. This product is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

"Value Line", "The Value Line Investment Survey", and "Timeliness" are trademarks or registered trademarks of Value Line, Inc. ("Value Line") and have been licensed for use for certain purposes by First Trust Portfolios L.P. This product is not sponsored, endorsed, recommended, sold or promoted by Value Line and Value Line makes no representation regarding the advisability of investing in products utilizing such strategy. First Trust Portfolios L.P. is not affiliated with any Value Line company.

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