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Low Volatility, 18  Ticker: FRVZYX
A unit investment trust that seeks above-average capital appreciation by investing in well-capitalized companies which have displayed low price fluctuations over time while also retaining capital growth potential.
Please note that there is no assurance the objective will be met.
Product Code: LVOL18
Portfolio Status: Primary
Initial Offer Date: 12/04/2019
Portfolio Ending Date: 03/04/2021
Tax Structure: Regulated Investment Company
Distributions: Semi-Annual
Initial Offer Price: $10.0000
NAV(*): $10.2349
POP(*): $10.3769
Remaining Deferred Sales Charge: $0.1350
* As of Trade Date: 01/24/2020 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 1/24/2020) Per Unit (as of 1/24/2020)
2.31% $0.23920
^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 5.75%
Consumer Discretionary  Consumer Discretionary 1.97%
Consumer Staples  Consumer Staples 9.68%
Energy  Energy 1.87%
Financials  Financials 21.39%
Health Care  Health Care 7.95%
Industrials  Industrials 6.29%
Information Technology  Information Technology 4.17%
Materials  Materials 4.01%
Real Estate  Real Estate 11.69%
Utilities  Utilities 25.09%
Other  Other 0.14%
  Large Mid Small  
Growth  21.91% 4.09% 0.00%  
Value  51.48% 22.38% 0.00%  

 Style Weighting
Large-Cap Growth 21.91%
Large-Cap Value 51.48%
Mid-Cap Growth 4.09%
Mid-Cap Value 22.38%
Small-Cap Growth 0.00%
Small-Cap Value 0.00%
Undetermined 0.14%
U.S. Stocks 89.92%   Other 0.14%
Non-U.S. Stocks 9.94%      
The style and sector characteristics of the portfolio are determined as of 01/24/2020 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $88,912.20
Price/Earnings 18.88
Price/Book 2.39
As of 1/24/2020
All market capitalization numbers are in USD$ Millions

 Holdings  Export Current Holdings | View Initial Holdings  
 Citrix Systems, Inc. CTXS Information Technology  Information Technology Mid-Cap Growth 2.20%
 Evergy, Inc. EVRG Utilities  Utilities Mid-Cap Value 2.18%
 Lockheed Martin Corporation LMT Industrials  Industrials Large-Cap Growth 2.16%
 Atmos Energy Corporation ATO Utilities  Utilities Mid-Cap Value 2.15%
 Pinnacle West Capital Corporation PNW Utilities  Utilities Mid-Cap Value 2.15%
 The Southern Company SO Utilities  Utilities Large-Cap Value 2.12%
 Ameren Corporation AEE Utilities  Utilities Large-Cap Value 2.09%
 Duke Energy Corporation DUK Utilities  Utilities Large-Cap Value 2.08%
 Waste Management, Inc. WM Industrials  Industrials Large-Cap Growth 2.08%
 Consolidated Edison, Inc. ED Utilities  Utilities Large-Cap Value 2.07%
 CenterPoint Energy, Inc. CNP Utilities  Utilities Mid-Cap Value 2.07%
 DTE Energy Company DTE Utilities  Utilities Large-Cap Value 2.06%
 Exelon Corporation EXC Utilities  Utilities Large-Cap Value 2.06%
 Johnson & Johnson JNJ Health Care  Health Care Large-Cap Growth 2.05%
 Medtronic Plc MDT Health Care  Health Care Large-Cap Value 2.05%
 Republic Services, Inc. RSG Industrials  Industrials Large-Cap Value 2.05%
 PPL Corporation PPL Utilities  Utilities Large-Cap Value 2.04%
 The Allstate Corporation ALL Financials  Financials Large-Cap Value 2.03%
 Air Products and Chemicals, Inc. APD Materials  Materials Large-Cap Growth 2.03%
 Public Service Enterprise Group Incorporated PEG Utilities  Utilities Large-Cap Value 2.02%
 Loews Corporation L Financials  Financials Mid-Cap Value 2.02%
 Berkshire Hathaway Inc. (Class B) BRK/B Financials  Financials Large-Cap Value 2.01%
 Vornado Realty Trust VNO Real Estate  Real Estate Mid-Cap Value 2.01%
 Everest Re Group, Ltd. RE Financials  Financials Mid-Cap Value 2.00%
 Pfizer Inc. PFE Health Care  Health Care Large-Cap Value 1.99%
 Public Storage PSA Real Estate  Real Estate Large-Cap Growth 1.99%
 PepsiCo, Inc. PEP Consumer Staples  Consumer Staples Large-Cap Growth 1.98%
 Duke Realty Corporation DRE Real Estate  Real Estate Mid-Cap Value 1.98%
 Mondelez International, Inc. MDLZ Consumer Staples  Consumer Staples Large-Cap Value 1.98%
 Linde Plc LIN Materials  Materials Large-Cap Value 1.98%
 Global Life Inc. GL Financials  Financials Mid-Cap Value 1.97%
 The Hershey Company HSY Consumer Staples  Consumer Staples Large-Cap Growth 1.97%
 The TJX Companies, Inc. TJX Consumer Discretionary  Consumer Discretionary Large-Cap Growth 1.97%
 Accenture Plc ACN Information Technology  Information Technology Large-Cap Growth 1.97%
 AT&T Inc. T Communication Services  Communication Services Large-Cap Value 1.96%
 Aflac Incorporated AFL Financials  Financials Large-Cap Value 1.95%
 AvalonBay Communities, Inc. AVB Real Estate  Real Estate Large-Cap Value 1.95%
 Cincinnati Financial Corporation CINF Financials  Financials Mid-Cap Value 1.94%
 Chubb Limited CB Financials  Financials Large-Cap Value 1.94%
 The Travelers Companies, Inc. TRV Financials  Financials Large-Cap Value 1.94%
 General Mills, Inc. GIS Consumer Staples  Consumer Staples Large-Cap Value 1.91%
 Regency Centers Corporation REG Real Estate  Real Estate Mid-Cap Value 1.91%
 Verizon Communications Inc. VZ Communication Services  Communication Services Large-Cap Value 1.90%
 Omnicom Group Inc. OMC Communication Services  Communication Services Mid-Cap Growth 1.89%
 Exxon Mobil Corporation XOM Energy  Energy Large-Cap Value 1.87%
 Merck & Co., Inc. MRK Health Care  Health Care Large-Cap Growth 1.86%
 The Hartford Financial Services Group, Inc. HIG Financials  Financials Large-Cap Value 1.86%
 Simon Property Group, Inc. SPG Real Estate  Real Estate Large-Cap Growth 1.85%
 Walmart, Inc. WMT Consumer Staples  Consumer Staples Large-Cap Value 1.84%
 U.S. Bancorp USB Financials  Financials Large-Cap Value 1.73%
Total Number of Holdings:    50
Underlying Securities information represented above is as of 01/24/2020 but will vary with future fluctuations in the market.

 Standard Account Sales Charges *
Transactional sales charges: Initial:  0.07%
  Deferred:  1.30%
C&D Fee:    0.48%
Maximum Sales Charge:   1.85%
CUSIP Type Distribution
30312H227 Cash Semi-Annual
30312H235 Reinvest Semi-Annual
* Based on the offer price as of 01/24/2020 4:00pm ET

 Fee/Wrap Account Sales Charges *
C&D Fee:    0.49%
Maximum Sales Charge:   0.49%
CUSIP Type Distribution
30312H243 Cash-Fee Semi-Annual
30312H250 Reinvest-Fee Semi-Annual
* Based on the NAV price as of 01/24/2020 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 March 20, 2020
$0.04500 April 20, 2020
$0.04500 May 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.

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.

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.

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
30312H227 (Cash)
30312H235 (Reinvest)
30312H243 (Cash-Fee)
30312H250 (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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