75/25 Strategic Allocation, 1st Qtr 2018  Ticker: FSTVLX
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.
Product Code: 7S1Q18
Portfolio Status: Primary
Initial Offer Date: 01/11/2018
Portfolio Ending Date: 04/16/2019
Tax Structure: Regulated Investment Company
Distributions: Monthly
Initial Offer Price: $10.0000
NAV(*): $9.2840
POP(*): $9.4081
Remaining Deferred Sales Charge: $0.1350
* As of Trade Date: 03/23/2018 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
Year 1 * $0.2025
Subsequent Years * $0.2021
As of 03/19/2018
* The estimated net annual distribution for subsequent years is expected to be less than the amount for the first year because a portion of the securities included in the portfolio will be sold to pay for organization costs, the deferred sales charge and the creation and development fee.  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  
 First Trust Senior Loan Fund FTSL 1.16%
 SPDR Blackstone/GSO Senior Loan ETF SRLN 1.16%
 SPDR Bloomberg Barclays Short Term High Yield Bond ETF SJNK 1.15%
 Vanguard Intermediate-Term Corporate Bond ETF VCIT 1.13%
 iShares Emerging Markets High Yield Bond ETF EMHY 1.13%
 iShares 10+ Year Credit Bond ETF CLY 1.11%
 Vanguard Long-Term Corporate Bond ETF VCLT 1.10%
 SPDR Portfolio Long Term Corporate Bond ETF SPLB 1.10%
 SPDR Bloomberg Barclays Convertible Securities ETF CWB 1.04%
 VanEck Vectors J.P. Morgan EM Local Currency Bond ETF EMLC 1.04%
 SPDR Bloomberg Barclays TIPS ETF IPE 1.03%
 PowerShares Senior Loan Portfolio BKLN 1.03%
 iShares TIPS Bond ETF TIP 1.02%
 iShares U.S. Preferred Stock ETF PFF 1.02%
 PowerShares Preferred Portfolio PGX 1.02%
 Vanguard Mortgage-Backed Securities ETF VMBS 1.02%
 First Trust Tactical High Yield ETF HYLS 1.01%
 Highland/iBoxx Senior Loan ETF SNLN 0.90%
 First Trust Low Duration Opportunities ETF LMBS 0.90%
 Micron Technology, Inc. MU 0.89%
 iShares 7-10 Year Treasury Bond ETF IEF 0.89%
 iShares 10-20 Year Treasury Bond ETF TLH 0.89%
 SPDR Portfolio Intermediate Term Corporate Bond ETF SPIB 0.89%
 First Trust Preferred Securities and Income ETF FPE 0.88%
 iShares iBoxx $ Investment Grade Corporate Bond ETF LQD 0.87%
 iShares Core 10+ Year USD Bond ETF ILTB 0.87%
 Intel Corporation INTC 0.77%
 HCA Healthcare, Inc. HCA 0.75%
 Applied Materials, Inc. AMAT 0.71%
 Lam Research Corporation LRCX 0.71%
 Northrop Grumman Corporation NOC 0.71%
 NextEra Energy, Inc. NEE 0.70%
 The TJX Companies, Inc. TJX 0.69%
 Raytheon Company RTN 0.69%
 Skyworks Solutions, Inc. SWKS 0.69%
 General Dynamics Corporation GD 0.68%
 CME Group Inc. CME 0.68%
 Public Storage PSA 0.65%
 Prologis, Inc. PLD 0.65%
 PG&E Corporation PCG 0.64%
 Costco Wholesale Corporation COST 0.64%
 Valero Energy Corporation VLO 0.64%
 Amphenol Corporation APH 0.64%
 Illumina, Inc. ILMN 0.64%
 Centene Corporation CNC 0.64%
 Target Corporation TGT 0.63%
 Waste Management, Inc. WM 0.63%
 Sysco Corporation SYY 0.63%
 Northern Trust Corporation NTRS 0.63%
 Newmont Mining Corporation NEM 0.63%
 Dollar General Corporation DG 0.63%
 UnitedHealth Group Incorporated UNH 0.62%
 WEC Energy Group, Inc. WEC 0.62%
 Texas Instruments Incorporated TXN 0.62%
 T. Rowe Price Group, Inc. TROW 0.62%
 Intuitive Surgical, Inc. ISRG 0.62%
 T-Mobile US, Inc. TMUS 0.62%
 Eversource Energy ES 0.61%
 Best Buy Co., Inc. BBY 0.61%
 Anthem, Inc. ANTM 0.61%
 The Allstate Corporation ALL 0.60%
 O'Reilly Automotive, Inc. ORLY 0.60%
 Ross Stores, Inc. ROST 0.60%
 Verizon Communications Inc. VZ 0.59%
 Hormel Foods Corporation HRL 0.59%
 Nintendo Co., Ltd. (ADR) NTDOY 0.59%
 Tyson Foods, Inc. (Class A) TSN 0.58%
 Stanley Black & Decker, Inc. SWK 0.58%
 Mohawk Industries, Inc. MHK 0.58%
 Monster Beverage Corporation MNST 0.58%
 FedEx Corporation FDX 0.57%
 Nucor Corporation NUE 0.57%
 Express Scripts Holding Company ESRX 0.57%
 Facebook, Inc. (Class A) FB 0.57%
 Ventas, Inc. VTR 0.56%
 Welltower Inc. WELL 0.56%
 NTT DOCOMO, Inc. (ADR) DCM 0.56%
 Molson Coors Brewing Company TAP 0.56%
 Exxon Mobil Corporation XOM 0.55%
 Altria Group, Inc. MO 0.55%
 Corning Incorporated GLW 0.55%
 D.R. Horton, Inc. DHI 0.55%
 Dollar Tree, Inc. DLTR 0.55%
 TE Connectivity Ltd. TEL 0.53%
 NIDEC Corporation (ADR) NJDCY 0.53%
 CVS Health Corporation CVS 0.52%
 Eni SpA (ADR) E 0.52%
 Cigna Corporation CI 0.52%
 Nissan Motor Co., Ltd. (ADR) NSANY 0.52%
 Total S.A. (ADR) TOT 0.51%
 Cerner Corporation CERN 0.51%
 Biogen Inc. BIIB 0.51%
 The Toronto-Dominion Bank TD 0.51%
 Lloyds Banking Group Plc (ADR) LYG 0.51%
 L'Oreal S.A. (ADR) LRLCY 0.51%
 Eaton Corporation Plc ETN 0.50%
 Orange (ADR) ORAN 0.50%
 Nippon Telegraph and Telephone Corporation (ADR) NTTYY 0.50%
 Tokio Marine Holdings, Inc. (ADR) TKOMY 0.50%
 Canon Inc. (ADR) CAJ 0.49%
 Accenture Plc ACN 0.49%
 Toyota Motor Corporation (ADR) TM 0.48%
 Honda Motor Co., Ltd. (ADR) HMC 0.48%
 Bank of Montreal BMO 0.48%
 Royal Bank of Canada RY 0.48%
 LyondellBasell Industries N.V. LYB 0.48%
 Medtronic Plc MDT 0.47%
 Rio Tinto Plc (ADR) RIO 0.47%
 Hitachi, Ltd. (ADR) HTHIY 0.46%
 Novo Nordisk A/S (ADR) NVO 0.46%
 Suncor Energy Inc. SU 0.46%
 Vodafone Group Plc (ADR) VOD 0.45%
 Komatsu Ltd. (ADR) KMTUY 0.45%
 Telstra Corporation Limited (ADR) TLSYY 0.45%
 AXA S.A. (ADR) AXAHY 0.43%
 ABIOMED, Inc. ABMD 0.35%
 MKS Instruments, Inc. MKSI 0.33%
 ON Semiconductor Corporation ON 0.30%
 Universal Health Services, Inc. (Class B) UHS 0.29%
 Teradyne, Inc. TER 0.28%
 Akamai Technologies, Inc. AKAM 0.28%
 F5 Networks, Inc. FFIV 0.28%
 Rollins, Inc. ROL 0.28%
 Old Dominion Freight Line, Inc. ODFL 0.28%
 Huntington Ingalls Industries, Inc. HII 0.28%
 Gentex Corporation GNTX 0.27%
 Landstar System, Inc. LSTR 0.27%
 MEDNAX, Inc. MD 0.27%
 Columbia Sportswear Company COLM 0.27%
 Seaboard Corporation SEB 0.27%
 CBRE Group, Inc. CBRE 0.27%
 IDACORP, Inc. IDA 0.26%
 Atmos Energy Corporation ATO 0.26%
 PVH Corp. PVH 0.26%
 Skechers U.S.A., Inc. SKX 0.26%
 FLIR Systems, Inc. FLIR 0.26%
 Masimo Corporation MASI 0.26%
 First American Financial Corporation FAF 0.26%
 FNF Group FNF 0.26%
 Conagra Brands, Inc. CAG 0.25%
 The Gap, Inc. GPS 0.25%
 Pinnacle West Capital Corporation PNW 0.25%
 Expeditors International of Washington, Inc. EXPD 0.25%
 Reinsurance Group of America, Incorporated RGA 0.25%
 JetBlue Airways Corporation JBLU 0.25%
 Reliance Steel & Aluminum Co. RS 0.25%
 Arrow Electronics, Inc. ARW 0.24%
 MAXIMUS, Inc. MMS 0.24%
 The Toro Company TTC 0.24%
 Ingredion Incorporated INGR 0.24%
 Williams-Sonoma, Inc. WSM 0.24%
 Henry Schein, Inc. HSIC 0.24%
 EMCOR Group, Inc. EME 0.24%
 Annaly Capital Management, Inc. NLY 0.24%
 WellCare Health Plans, Inc. WCG 0.24%
 Aramark ARMK 0.24%
 PRA Health Sciences, Inc. PRAH 0.24%
 GCI Liberty, Inc. (Class A) GLIBA 0.24%
 Torchmark Corporation TMK 0.23%
 Hologic, Inc. HOLX 0.23%
 Quanta Services, Inc. PWR 0.23%
 Foot Locker, Inc. FL 0.23%
 Carlisle Companies Incorporated CSL 0.23%
 Carter's, Inc. CRI 0.23%
 SYNNEX Corporation SNX 0.23%
 MGIC Investment Corporation MTG 0.22%
 National Beverage Corp. FIZZ 0.22%
 Owens Corning OC 0.22%
 Snap-on Incorporated SNA 0.21%
 Tech Data Corporation TECD 0.21%
 RPC, Inc. RES 0.21%
 Pilgrim's Pride Corporation PPC 0.21%
 NVR, Inc. NVR 0.20%
 Thor Industries, Inc. THO 0.19%
 United Therapeutics Corporation UTHR 0.19%
 BofI Holding, Inc. BOFI 0.17%
 RingCentral, Inc. (Class A) RNG 0.17%
 Insperity, Inc. NSP 0.16%
 AMN Healthcare Services, Inc. AMN 0.16%
 Qualys, Inc. QLYS 0.16%
 Ciena Corporation CIEN 0.15%
 Aaron's, Inc. AAN 0.15%
 Urban Outfitters, Inc. URBN 0.14%
 Applied Industrial Technologies, Inc. AIT 0.14%
 American Eagle Outfitters, Inc. AEO 0.14%
 International Speedway Corporation ISCA 0.14%
 LifePoint Health, Inc. LPNT 0.14%
 Adtalem Global Education Inc. ATGE 0.14%
 FTI Consulting, Inc. FCN 0.14%
 Dick's Sporting Goods, Inc. DKS 0.14%
 Magellan Health, Inc. MGLN 0.14%
 Green Dot Corporation (Class A) GDOT 0.14%
 American States Water Company AWR 0.13%
 Benchmark Electronics, Inc. BHE 0.13%
 The Cheesecake Factory Incorporated CAKE 0.13%
 Plexus Corp. PLXS 0.13%
 Spire Inc. SR 0.13%
 Advanced Energy Industries, Inc. AEIS 0.13%
 Convergys Corporation CVG 0.13%
 Stamps.com Inc. STMP 0.13%
 Innospec Inc. IOSP 0.13%
 Apollo Commercial Real Estate Finance, Inc. ARI 0.13%
 Sprouts Farmers Market, Inc. SFM 0.13%
 Werner Enterprises, Inc. WERN 0.12%
 Universal Forest Products, Inc. UFPI 0.12%
 United Natural Foods, Inc. UNFI 0.12%
 Mercury Systems, Inc. MRCY 0.12%
 AVX Corporation AVX 0.12%
 J & J Snack Foods Corp. JJSF 0.12%
 Sanderson Farms, Inc. SAFM 0.12%
 Federated Investors, Inc. (Class B) FII 0.12%
 The Boston Beer Company, Inc. SAM 0.12%
 Callon Petroleum Company CPE 0.12%
 Evercore Inc. EVR 0.12%
 Piedmont Office Realty Trust, Inc. PDM 0.12%
 Cooper-Standard Holdings Inc. CPS 0.12%
 Spirit Airlines, Inc. SAVE 0.12%
 Matador Resources Company MTDR 0.12%
 Retail Properties of America, Inc RPAI 0.12%
 Columbia Property Trust, Inc. CXP 0.12%
 Hecla Mining Company HL 0.11%
 II-VI Incorporated IIVI 0.11%
 The Children's Place, Inc. PLCE 0.11%
 EnPro Industries, Inc. NPO 0.11%
 California Water Service Group CWT 0.11%
 LaSalle Hotel Properties LHO 0.11%
 Kronos Worldwide, Inc. KRO 0.11%
 Corcept Therapeutics Incorporated CORT 0.11%
 Cooper Tire & Rubber Company CTB 0.10%
 Diamond Offshore Drilling, Inc. DO 0.10%
 American Woodmark Corporation AMWD 0.10%
 Finisar Corporation FNSR 0.10%
 Cirrus Logic, Inc. CRUS 0.10%
 Big Lots, Inc. BIG 0.10%
 GameStop Corp. (Class A) GME 0.09%
Total Number of Holdings:    235
Underlying Securities information represented above is as of 03/22/2018 but will vary with future fluctuations in the market.

 Standard Account Sales Charges *
Transactional sales charges: Initial:  -0.11%
  Deferred:  1.43%
C&D Fee:    0.53%
Maximum Sales Charge:   1.85%
CUSIP Type Distribution
30306D463 Cash Monthly
30306D471 Reinvest Monthly
* Based on the offer price as of 03/23/2018 4:00pm ET

 Fee/Wrap Account Sales Charges *
C&D Fee:    0.54%
Maximum Sales Charge:   0.54%
CUSIP Type Distribution
30306D489 Cash-Fee Monthly
30306D497 Reinvest-Fee Monthly
* Based on the NAV price as of 03/23/2018 4:00pm ET
In addition to the sales charges listed, UITs are subject to annual operating expenses and organization costs.

 Deferred Sales Charge Schedule
Amount Date
$0.04500 April 20, 2018
$0.04500 May 18, 2018
$0.04500 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.

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.

Floating Rate Risk. Certain of the funds invest in floating-rate securities. A floating-rate security is an instrument in which the interest rate payable on the obligation fluctuates on a periodic basis based upon changes in an interest rate benchmark. As a result, the yield on such a security will generally decline in a falling interest rate environment, causing the trust to experience a reduction in the income it receives from such securities.

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.

High-Yield or Junk Bonds Risk. Investing in high-yield securities or "junk" bonds 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.

IRA Risk. There may be tax consequences unless units are purchased in an IRA or other qualified plan.

REITs Risk. An investment in a portfolio containing REIT securities is subject to additional risks including limited diversification. Companies involved in the real estate industry are subject to changes in the real estate market, vacancy rates and competition, volatile interest rates and economic recession.

Senior Loans Risk. The yield on 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.

US Treasury Note Risk. The value of U.S. Treasury notes will be adversely affected by decreases in bond prices and increases in interest rates.

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.

Although the portfolio terminates in approximately one year, 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.

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.