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Richard Bernstein Advisors Quality Income, 35  Ticker: FRMCPX
 
Description
A unit investment trust that seeks total return through a combination of dividend income and capital appreciation. The stocks are selected for the trust by Richard Bernstein Advisors LLC using their comprehensive Quality Income strategy.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: RBAQ35
Portfolio Status: Primary
Initial Offer Date: 09/27/2019
Portfolio Ending Date: 12/28/2020
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $9.9727
POP(*): $10.1097
Remaining Deferred Sales Charge: $0.1350
* As of Trade Date: 11/19/2019 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.

 Historical 12-Month Distribution of Trust Holdings:^
Rate (as of 11/19/2019) Per Unit (as of 11/18/2019)
3.14% $0.31710
^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. For trusts that include funds, distributions may include realized short term capital gains, realized long-term capital gains and/or return of capital. PLEASE NOTE: For trusts that hold preferred securities, the historical distribution rate is calculated using only the holdings that have 12 months of distribution history. Any holdings without a 12 month history of dividends were excluded from the calculation. 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.

 Holdings Analysis Click here to Perform a Benchmark Comparison  
 Sector Weighting
Communication Services  Communication Services 1.59%
Consumer Discretionary  Consumer Discretionary 8.23%
Consumer Staples  Consumer Staples 4.50%
Energy  Energy 0.00%
Financials  Financials 31.03%
Health Care  Health Care 3.91%
Industrials  Industrials 8.75%
Information Technology  Information Technology 4.08%
Materials  Materials 3.99%
Real Estate  Real Estate 19.13%
Utilities  Utilities 14.67%
Other  Other 0.12%
 
  Large Mid Small  
Growth  12.02% 8.48% 0.00%  
Value  21.93% 29.05% 28.40%  

 Style Weighting
Large-Cap Growth 12.02%
Large-Cap Value 21.93%
Mid-Cap Growth 8.48%
Mid-Cap Value 29.05%
Small-Cap Growth 0.00%
Small-Cap Value 28.40%
Undetermined 0.12%
 Composition
U.S. Stocks 90.38%   Other 0.12%
Non-U.S. Stocks 9.50%      
The style and sector characteristics of the portfolio are determined as of 11/19/2019 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $19,283.89
Price/Earnings 17.46
Price/Book 1.74
As of 11/19/2019
All market capitalization numbers are in USD$ Millions

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolSectorStyleWeighting
 Emerson Electric Co. EMR Industrials  Industrials Large-Cap Growth 4.50%
 Walgreens Boots Alliance, Inc. WBA Consumer Staples  Consumer Staples Large-Cap Value 4.50%
 Watsco, Inc. WSO Industrials  Industrials Mid-Cap Growth 4.25%
 Genuine Parts Company GPC Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 4.23%
 Paychex, Inc. PAYX Information Technology  Information Technology Large-Cap Growth 4.08%
 Carnival Corporation CCL Consumer Discretionary  Consumer Discretionary Large-Cap Value 4.00%
 Sonoco Products Company SON Materials  Materials Mid-Cap Value 3.99%
 National Retail Properties, Inc. NNN Real Estate  Real Estate Mid-Cap Value 3.99%
 Realty Income Corporation O Real Estate  Real Estate Large-Cap Value 3.98%
 Northern Trust Corporation NTRS Financials  Financials Large-Cap Value 3.95%
 Retail Opportunity Investments Corp. ROIC Real Estate  Real Estate Small-Cap Value 3.92%
 Sanofi (ADR) SNY Health Care  Health Care Large-Cap Value 3.91%
 Evergy, Inc. EVRG Utilities  Utilities Mid-Cap Value 3.82%
 EPR Properties EPR Real Estate  Real Estate Mid-Cap Value 3.80%
 Hawaiian Electric Industries, Inc. HE Utilities  Utilities Mid-Cap Value 3.75%
 NorthWestern Corporation NWE Utilities  Utilities Small-Cap Value 3.59%
 Pinnacle West Capital Corporation PNW Utilities  Utilities Mid-Cap Value 3.51%
 Public Storage PSA Real Estate  Real Estate Large-Cap Growth 3.44%
 OceanFirst Financial Corp. OCFC Financials  Financials Small-Cap Value 2.90%
 Provident Financial Services, Inc. PFS Financials  Financials Small-Cap Value 2.46%
 Cathay General Bancorp CATY Financials  Financials Small-Cap Value 2.12%
 PacWest Bancorp PACW Financials  Financials Mid-Cap Value 2.07%
 Great Western Bancorp, Inc. GWB Financials  Financials Small-Cap Value 2.07%
 People's United Financial, Inc. PBCT Financials  Financials Mid-Cap Value 2.06%
 Regions Financial Corporation RF Financials  Financials Mid-Cap Value 2.06%
 United Bankshares, Inc. UBSI Financials  Financials Small-Cap Value 1.97%
 Hope Bancorp, Inc. HOPE Financials  Financials Small-Cap Value 1.93%
 First Financial Bancorp. FFBC Financials  Financials Small-Cap Value 1.93%
 Umpqua Holdings Corporation UMPQ Financials  Financials Small-Cap Value 1.91%
 China Telecom Corporation Limited (ADR) CHA Communication Services  Communication Services Large-Cap Value 1.59%
 TrustCo Bank Corp NY TRST Financials  Financials Small-Cap Value 1.47%
 Hanmi Financial Corporation HAFC Financials  Financials Small-Cap Value 1.09%
 Associated Banc-Corp ASB Financials  Financials Small-Cap Value 1.04%
 
Total Number of Holdings:    33
Underlying Securities information represented above is as of 11/19/2019 but will vary with future fluctuations in the market.

 Standard Account Sales Charges *
Transactional sales charges: Initial:  0.02%
  Deferred:  1.34%
C&D Fee:    0.49%
Maximum Sales Charge:   1.85%
CUSIP Type Distribution
30311U229 Cash Monthly
30311U237 Reinvest Monthly
* Based on the offer price as of 11/19/2019 4:00pm ET

 Fee/Wrap Account Sales Charges *
C&D Fee:    0.50%
Maximum Sales Charge:   0.50%
CUSIP Type Distribution
30311U245 Cash-Fee Monthly
30311U252 Reinvest-Fee Monthly
* Based on the NAV price as of 11/19/2019 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 January 17, 2020
$0.04500 February 20, 2020
$0.04500 March 20, 2020

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.

Financials Risk. The companies engaged in the financials sector are subject to the adverse effects of volatile interest rates, economic recession, decreases in the availability of capital, increased competition from new entrants in the field, and potential increased regulation.

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.

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.

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.

Term Risk - 15 months. Although this unit investment trust terminates in approximately 15 months, 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.

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.

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.

Fund Cusip Information
30311U229 (Cash)
30311U237 (Reinvest)
30311U245 (Cash-Fee)
30311U252 (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 advisors are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
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