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U.S. Energy Independence, 23  Ticker: FPQYCX
 
Description
A unit investment trust that seeks above-average capital appreciation by investing in a portfolio of companies within the energy industry.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: USEI23
Portfolio Status: Primary
Initial Offer Date: 08/28/2020
Portfolio Ending Date: 08/29/2022
Tax Structure: Regulated Investment Company
Distributions: Semi-Annual
 
Initial Offer Price: $10.0000
NAV(*): $12.7021
POP(*): $13.0099
Remaining Deferred Sales Charge: $0.0750
* As of Trade Date: 01/15/2021 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 1/15/2021) Per Unit (as of 1/11/2021)
2.70% $0.35150
^ 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. Due to the negative economic impact across many industries caused by the COVID-19 outbreak, certain issuers of the securities included in the trust may elect to reduce the amount of dividends and/or distributions paid in the future. As a result, the "Historical 12-Month Distribution Rate of Trust Holdings," which is based on the trailing twelve-month distributions paid by the securities included in a trust, will likely be higher, and in some cases significantly higher, than the actual distribution rate achieved by the trust. 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. 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. For trusts that include funds, distributions may include realized short term capital gains, realized long-term capital gains and/or return of capital.

 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 88.55%
Financials  Financials 0.00%
Health Care  Health Care 0.00%
Industrials  Industrials 11.45%
Information Technology  Information Technology 0.00%
Materials  Materials 0.00%
Real Estate  Real Estate 0.00%
Utilities  Utilities 0.00%
Other  Other 0.00%
 
  Large Mid Small  
Growth  2.69% 3.10% 13.01%  
Value  29.71% 41.51% 9.98%  

 Style Weighting
Large-Cap Growth 2.69%
Large-Cap Value 29.71%
Mid-Cap Growth 3.10%
Mid-Cap Value 41.51%
Small-Cap Growth 13.01%
Small-Cap Value 9.98%
Undetermined 0.00%
 Composition
U.S. Stocks 100.00%   Other 0.00%
Non-U.S. Stocks 0.00%      
The style and sector characteristics of the portfolio are determined as of 01/14/2021 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $34,708.74
Price/Book 1.99
As of 1/14/2021
All market capitalization numbers are in USD$ Millions

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolSectorStyleWeighting
 Devon Energy Corporation DVN Energy  Energy Mid-Cap Value 9.01%
 Pioneer Natural Resources Company PXD Energy  Energy Mid-Cap Value 6.69%
 Renewable Energy Group, Inc. REGI Energy  Energy Small-Cap Growth 5.63%
 Cimarex Energy Co. XEC Energy  Energy Small-Cap Growth 4.28%
 Helmerich & Payne, Inc. HP Energy  Energy Small-Cap Value 4.04%
 ONEOK, Inc. OKE Energy  Energy Mid-Cap Value 4.03%
 Diamondback Energy, Inc. FANG Energy  Energy Mid-Cap Value 3.80%
 EOG Resources, Inc. EOG Energy  Energy Large-Cap Value 3.37%
 Hess Corporation HES Energy  Energy Mid-Cap Value 3.33%
 Halliburton Company HAL Energy  Energy Mid-Cap Value 3.31%
 Concho Resources Inc. CXO Energy  Energy Mid-Cap Value 3.28%
 Marathon Petroleum Corporation MPC Energy  Energy Large-Cap Value 3.17%
 Cheniere Energy, Inc. LNG Energy  Energy Mid-Cap Growth 3.10%
 Cactus, Inc. (Class A) WHD Energy  Energy Small-Cap Growth 3.10%
 Exxon Mobil Corporation XOM Energy  Energy Large-Cap Value 3.09%
 Range Resources Corporation RRC Energy  Energy Small-Cap Value 3.08%
 ConocoPhillips COP Energy  Energy Large-Cap Value 3.05%
 CSX Corporation CSX Industrials  Industrials Large-Cap Value 3.00%
 Phillips 66 PSX Energy  Energy Large-Cap Value 2.99%
 Norfolk Southern Corporation NSC Industrials  Industrials Large-Cap Value 2.91%
 HollyFrontier Corporation HFC Energy  Energy Small-Cap Value 2.86%
 Kansas City Southern KSU Industrials  Industrials Mid-Cap Value 2.85%
 Valero Energy Corporation VLO Energy  Energy Mid-Cap Value 2.75%
 Chevron Corporation CVX Energy  Energy Large-Cap Value 2.75%
 Kinder Morgan, Inc. KMI Energy  Energy Large-Cap Value 2.75%
 Union Pacific Corporation UNP Industrials  Industrials Large-Cap Growth 2.69%
 The Williams Companies, Inc. WMB Energy  Energy Large-Cap Value 2.63%
 Cabot Oil & Gas Corporation COG Energy  Energy Mid-Cap Value 2.46%
 
Total Number of Holdings:    28
Underlying Securities information represented above is as of 01/14/2021 but will vary with future fluctuations in the market.

 Standard Account Sales Charges *
Transactional sales charges: Initial:  1.79%
  Deferred:  0.58%
C&D Fee:    0.38%
Maximum Sales Charge:   2.75%
CUSIP Type Distribution
30315G705 Cash Semi-Annual
30315G713 Reinvest Semi-Annual
* Based on the offer price as of 01/15/2021 4:00pm ET

 Fee/Wrap Account Sales Charges *
C&D Fee:    0.39%
Maximum Sales Charge:   0.39%
CUSIP Type Distribution
30315G721 Cash-Fee Semi-Annual
30315G739 Reinvest-Fee Semi-Annual
* Based on the NAV price as of 01/15/2021 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
$0.07500 December 18, 2020
$0.07500 January 20, 2021
$0.07500 February 19, 2021

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.

COVID-19 Economic Impact Risk. The COVID-19 global pandemic has resulted in major disruptions to economies and markets around the world. Financial markets have experienced extreme volatility and severe losses, negatively impacting global economic growth prospects. The duration of the COVID-19 outbreak and its effects cannot be determined with certainty and may exacerbate other political, social and economic risks.

Energy Risk. The companies engaged in the energy sector are subject to certain risks, including price and supply fluctuations caused by international politics, energy conservation, taxes, price controls, and other regulatory policies of various governments. Falling oil and gas prices may negatively impact the profitability and business prospects of certain energy companies.

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.

Large-Cap Risk. Large capitalization companies may grow at a slower rate than the overall market.

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.

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 professional 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
30315G705 (Cash)
30315G713 (Reinvest)
30315G721 (Cash-Fee)
30315G739 (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 professionals 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. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
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