First Trust® ETF Allocation, 23  Ticker: FEWKAX
 
Description
A unit investment trust that seeks above-average capital appreciation by investing in a diversified portfolio of First Trust equity exchange-traded funds.
 
Summary
Product Code: FTEA23
Portfolio Status: Secondary
Initial Offer Date: 01/16/2018
Secondary Date: 04/12/2018
Portfolio Ending Date: 01/16/2020
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $9.9014
POP(*): $10.1293
Remaining Deferred Sales Charge: $0.0750
* As of Trade Date: 06/15/2018 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 * $0.0680
As of 06/11/2018
* 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  Export Current Holdings | View Initial Holdings  
NameSymbolWeighting
 First Trust Large Cap Growth AlphaDEX® Fund FTC 15.60%
 First Trust Large Cap Value AlphaDEX® Fund FTA 13.94%
 First Trust Large Cap Core AlphaDEX® Fund FEX 13.75%
 First Trust Small Cap Core AlphaDEX® Fund FYX 12.48%
 First Trust Mid Cap Core AlphaDEX® Fund FNX 12.11%
 First Trust Europe AlphaDEX® Fund FEP 11.52%
 First Trust Technology AlphaDEX® Fund FXL 8.45%
 First Trust NASDAQ® ABA Community Bank Index Fund QABA 4.02%
 First Trust NYSE Arca Biotechnology Index Fund FBT 3.24%
 First Trust Financials AlphaDEX® Fund FXO 2.94%
 First Trust Energy AlphaDEX® Fund FXN 1.95%
 
Total Number of Holdings:    11
Underlying Securities information represented above is as of 06/15/2018 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.07500 April 20, 2018
$0.07500 May 18, 2018
$0.07500 June 20, 2018

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.

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.

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. Certain ETFs may employ the use of leverage, which increases the volatility of such funds.

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.

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 organizational 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 cyber security.

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.