Water Utility & Infrastructure Select, 48  Ticker: FTRMIX
A unit investment trust that seeks above average capital appreciation by investing in a concentrated portfolio of companies that provide products and services related to the water industry.
Product Code: WA2Y48
Portfolio Status: Secondary
Initial Offer Date: 12/14/2017
Secondary Date: 03/14/2018
Portfolio Ending Date: 12/13/2019
Tax Structure: Regulated Investment Company
Distributions: Semi-Annual
Initial Offer Price: $10.0000
NAV(*): $9.3532
POP(*): $9.5685
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 12/13/2018 4:00pm ET
The Public Offering Price (POP) represents the net asset value per unit plus any applicable organization costs and 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.

 Estimated Net Annual Distribution Per Unit
Estimated Net Annual Distribution Per Unit * $0.0902
As of 12/10/2018
* The estimates are based on annualizing the most recent dividends declared by the issuers of the securities included in the portfolio. There is no guarantee that the issuers of the securities included in the portfolio will declare distributions in the future or that, if declared, they will either remain at current levels or increase over time.

 Holdings Analysis Click here to Perform a Benchmark Comparison  
 Sector Weighting
Communication Services  Communication Services 0.00%
Consumer Discretionary  Consumer Discretionary 0.00%
Consumer Staples  Consumer Staples 0.00%
Energy  Energy 0.00%
Financials  Financials 0.00%
Health Care  Health Care 12.93%
Industrials  Industrials 49.12%
Information Technology  Information Technology 7.86%
Materials  Materials 4.76%
Real Estate  Real Estate 0.00%
Utilities  Utilities 25.33%
Other  Other 0.00%
  Large Mid Small  
Growth  13.74% 25.28% 41.46%  
Value  9.02% 7.69% 2.81%  

 Style Weighting
Large-Cap Growth 13.74%
Large-Cap Value 9.02%
Mid-Cap Growth 25.28%
Mid-Cap Value 7.69%
Small-Cap Growth 41.46%
Small-Cap Value 2.81%
Undetermined 0.00%
U.S. Stocks 93.01%   Other 0.00%
Non-U.S. Stocks 6.99%      
The style and sector characteristics of the portfolio are determined as of 12/13/2018 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $12,059.28
Weighted Average Price/Earnings 26.78
Weighted Average Price/Book 2.92
As of 12/12/2018
All market capitalization numbers are in USD$ Millions

 Holdings  Export Current Holdings | View Initial Holdings  
 American States Water Company AWR Utilities  Utilities Small-Cap Growth 5.16%
 Badger Meter, Inc. BMI Information Technology  Information Technology Small-Cap Growth 4.82%
 Ecolab Inc. ECL Materials  Materials Large-Cap Growth 4.76%
 California Water Service Group CWT Utilities  Utilities Small-Cap Growth 4.70%
 Tetra Tech, Inc. TTEK Industrials  Industrials Small-Cap Growth 4.69%
 Roper Technologies, Inc. ROP Industrials  Industrials Large-Cap Growth 4.57%
 American Water Works Company, Inc. AWK Utilities  Utilities Large-Cap Value 4.52%
 Danaher Corporation DHR Health Care  Health Care Large-Cap Value 4.50%
 Agilent Technologies, Inc. A Health Care  Health Care Large-Cap Growth 4.41%
 Rexnord Corporation RXN Industrials  Industrials Small-Cap Growth 4.33%
 IDEX Corporation IEX Industrials  Industrials Mid-Cap Growth 4.31%
 Waters Corporation WAT Health Care  Health Care Mid-Cap Growth 4.02%
 Xylem Inc. XYL Industrials  Industrials Mid-Cap Growth 4.02%
 Aqua America, Inc. WTR Utilities  Utilities Mid-Cap Growth 3.94%
 Watts Water Technologies, Inc. WTS Industrials  Industrials Small-Cap Growth 3.87%
 Franklin Electric Co., Inc. FELE Industrials  Industrials Small-Cap Growth 3.82%
 Crane Co. CR Industrials  Industrials Mid-Cap Growth 3.76%
 SJW Group SJW Utilities  Utilities Small-Cap Growth 3.72%
 Mueller Water Products, Inc. MWA Industrials  Industrials Small-Cap Growth 3.31%
 Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP (ADR) SBS Utilities  Utilities Mid-Cap Value 3.29%
 AECOM ACM Industrials  Industrials Mid-Cap Value 3.06%
 Itron, Inc. ITRI Information Technology  Information Technology Small-Cap Growth 3.04%
 A.O. Smith Corporation AOS Industrials  Industrials Mid-Cap Growth 2.87%
 Aegion Corporation AEGN Industrials  Industrials Small-Cap Value 2.81%
 Pentair Plc PNR Industrials  Industrials Mid-Cap Growth 2.36%
 nVent Electric Plc NVT Industrials  Industrials Mid-Cap Value 1.34%
Total Number of Holdings:    26
Underlying Securities information represented above is as of 12/13/2018 but will vary with future fluctuations in the market.

Risk Considerations

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. An investment in securities of foreign issuers should be made with an understanding of the additional risks involved, such as currency fluctuations, political risk, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers.

Industrials Risk. The companies engaged in the industrials sector are subject to a deterioration in the general state of the economy, intense competition, domestic and international politics, excess capacity and changing spending trends.

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.

Water Utilities and Infrastructure Risk. An investment in a portfolio containing water utilities and infrastructure companies involves additional risks, including the imposition of rate caps, increased competition due to deregulation, the difficulty in obtaining an adequate return on invested capital or in financing large construction programs, the limitations on operations and increased costs and delays attributable to environmental considerations, and an increased focus on water conservation.

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 cyber security.

All data used for the sector and style classification comparisons is from Bloomberg Finance L.P, which we believe to be reliable, but do not take responsibility for its accuracy.

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 advisor 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.