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Target VIP, 1st Qtr 2021  Ticker: FTKDWX
 
Description
A unit investment trust that seeks above-average total return; however, there is no assurance the objective will be met. The portfolio provides you with the convenience of owning six distinct strategies in one investment. It invests in a fixed portfolio of stocks which are selected by applying pre-determined screens and factors.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: VP1Q21
Portfolio Status: Secondary
Initial Offer Date: 01/11/2021
Secondary Date: 04/12/2021
Portfolio Ending Date: 04/08/2022
Tax Structure: Regulated Investment Company
Distributions: Semi-Annual
 
Initial Offer Price: $10.0000
NAV(*): $10.6611
POP(*): $10.8070
Remaining Deferred Sales Charge: $0.1350
* As of Trade Date: 04/12/2021 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 4/12/2021) Per Unit (as of 4/9/2021)
1.16% $0.12500
^ 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 9.27%
Consumer Discretionary  Consumer Discretionary 14.34%
Consumer Staples  Consumer Staples 4.04%
Energy  Energy 2.37%
Financials  Financials 15.32%
Health Care  Health Care 9.96%
Industrials  Industrials 4.55%
Information Technology  Information Technology 36.43%
Materials  Materials 2.92%
Real Estate  Real Estate 0.00%
Utilities  Utilities 0.80%
Other  Other 0.00%
 
  Large Mid Small  
Growth  39.76% 3.80% 6.76%  
Value  36.84% 1.30% 11.54%  

 Style Weighting
Large-Cap Growth 39.76%
Large-Cap Value 36.84%
Mid-Cap Growth 3.80%
Mid-Cap Value 1.30%
Small-Cap Growth 6.76%
Small-Cap Value 11.54%
Undetermined 0.00%
 Composition
U.S. Stocks 80.55%   Other 0.00%
Non-U.S. Stocks 19.45%      
The style and sector characteristics of the portfolio are determined as of 04/12/2021 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $355,485.26
Price/Earnings 19.72
Price/Book 3.11
As of 4/12/2021
All market capitalization numbers are in USD$ Millions

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolSectorStyleWeighting
 Apple Inc. AAPL Information Technology  Information Technology Large-Cap Growth 10.80%
 Intel Corporation INTC Information Technology  Information Technology Large-Cap Value 3.87%
 JPMorgan Chase & Co. JPM Financials  Financials Large-Cap Value 3.54%
 QUALCOMM Incorporated QCOM Information Technology  Information Technology Large-Cap Growth 3.50%
 The Travelers Companies, Inc. TRV Financials  Financials Large-Cap Value 3.36%
 NVIDIA Corporation NVDA Information Technology  Information Technology Large-Cap Growth 3.10%
 Verizon Communications Inc. VZ Communication Services  Communication Services Large-Cap Value 3.03%
 Lam Research Corporation LRCX Information Technology  Information Technology Large-Cap Growth 2.11%
 Sony Group Corp. (ADR) SONY Consumer Discretionary  Consumer Discretionary Large-Cap Value 1.95%
 Alphabet Inc. (Class C) GOOG Communication Services  Communication Services Large-Cap Growth 1.91%
 IDEXX Laboratories, Inc. IDXX Health Care  Health Care Large-Cap Growth 1.80%
 eBay Inc. EBAY Consumer Discretionary  Consumer Discretionary Large-Cap Growth 1.55%
 Micron Technology, Inc. MU Information Technology  Information Technology Large-Cap Value 1.50%
 Texas Instruments Incorporated TXN Information Technology  Information Technology Large-Cap Growth 1.50%
 Target Corporation TGT Consumer Discretionary  Consumer Discretionary Large-Cap Growth 1.47%
 General Motors Company GM Consumer Discretionary  Consumer Discretionary Large-Cap Value 1.23%
 KLA Corporation KLAC Information Technology  Information Technology Large-Cap Growth 1.20%
 Dollar General Corporation DG Consumer Discretionary  Consumer Discretionary Large-Cap Growth 1.08%
 JD.com, Inc. (ADR) JD Consumer Discretionary  Consumer Discretionary Large-Cap Value 1.06%
 Applied Materials, Inc. AMAT Information Technology  Information Technology Large-Cap Growth 1.03%
 Illinois Tool Works Inc. ITW Industrials  Industrials Large-Cap Growth 0.95%
 Regeneron Pharmaceuticals, Inc. REGN Health Care  Health Care Large-Cap Value 0.95%
 MSCI Inc. MSCI Financials  Financials Large-Cap Growth 0.94%
 Nordea Bank Abp NDA.SS Financials  Financials Large-Cap Value 0.92%
 HCA Healthcare, Inc. HCA Health Care  Health Care Large-Cap Growth 0.92%
 Cadence Design Systems, Inc. CDNS Information Technology  Information Technology Large-Cap Growth 0.89%
 Eni SpA ENI.IM Energy  Energy Large-Cap Value 0.83%
 Muenchener Rueckversicherungs-Gesellschaft AG MUV2.GY Financials  Financials Large-Cap Value 0.83%
 DNB ASA DNB.NO Financials  Financials Large-Cap Value 0.83%
 Vodafone Group Plc VOD.LN Communication Services  Communication Services Large-Cap Value 0.81%
 Allianz SE ALV.GY Financials  Financials Large-Cap Value 0.81%
 Sanofi SAN.FP Health Care  Health Care Large-Cap Value 0.81%
 National Grid Plc NG/.LN Utilities  Utilities Large-Cap Value 0.80%
 Deutsche Telekom AG DTE.GY Communication Services  Communication Services Large-Cap Value 0.79%
 Zoom Video Communications, Inc. (Class A) ZM Information Technology  Information Technology Large-Cap Growth 0.79%
 BP Plc BP/.LN Energy  Energy Large-Cap Value 0.79%
 Advanced Micro Devices, Inc. AMD Information Technology  Information Technology Large-Cap Growth 0.78%
 British American Tobacco Plc BATS.LN Consumer Staples  Consumer Staples Large-Cap Value 0.78%
 BASF SE BAS.GY Materials  Materials Large-Cap Value 0.78%
 Bayer AG BAYN.GY Health Care  Health Care Large-Cap Value 0.75%
 Total SE FP.FP Energy  Energy Large-Cap Value 0.75%
 Orange ORA.FP Communication Services  Communication Services Large-Cap Value 0.75%
 Koninklijke Ahold Delhaize N.V. AD.NA Consumer Staples  Consumer Staples Large-Cap Value 0.74%
 Zurich Insurance Group AG ZURN.SW Financials  Financials Large-Cap Value 0.74%
 Ameriprise Financial, Inc. AMP Financials  Financials Large-Cap Value 0.74%
 GlaxoSmithKline Plc GSK.LN Health Care  Health Care Large-Cap Value 0.72%
 Ultra Clean Holdings, Inc. UCTT Information Technology  Information Technology Small-Cap Growth 0.71%
 Century Communities, Inc. CCS Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.70%
 Rio Tinto Plc RIO.LN Materials  Materials Large-Cap Value 0.69%
 Perficient, Inc. PRFT Information Technology  Information Technology Small-Cap Growth 0.68%
 AMC Networks Inc. (Class A) AMCX Communication Services  Communication Services Small-Cap Growth 0.68%
 Glu Mobile Inc. GLUU Communication Services  Communication Services Small-Cap Growth 0.67%
 Hologic, Inc. HOLX Health Care  Health Care Mid-Cap Growth 0.65%
 Boot Barn Holdings, Inc. BOOT Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.63%
 Core-Mark Holding Company, Inc. CORE Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.61%
 Tesco Plc TSCO.LN Consumer Staples  Consumer Staples Mid-Cap Value 0.58%
 GMS Inc. GMS Industrials  Industrials Small-Cap Value 0.58%
 Malibu Boats, Inc. (Class A) MBUU Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.57%
 Oracle Corporation ORCL Information Technology  Information Technology Large-Cap Growth 0.57%
 Luminex Corporation LMNX Health Care  Health Care Small-Cap Value 0.56%
 ICF International, Inc. ICFI Industrials  Industrials Small-Cap Value 0.56%
 Monster Beverage Corporation MNST Consumer Staples  Consumer Staples Large-Cap Growth 0.56%
 M/I Homes, Inc. MHO Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.54%
 Methode Electronics, Inc. MEI Information Technology  Information Technology Small-Cap Value 0.54%
 Veritex Holdings, Inc. VBTX Financials  Financials Small-Cap Value 0.54%
 Aptiv Plc APTV Consumer Discretionary  Consumer Discretionary Large-Cap Value 0.53%
 Meta Financial Group, Inc. CASH Financials  Financials Small-Cap Value 0.52%
 Heartland Express, Inc. HTLD Industrials  Industrials Small-Cap Value 0.52%
 Schweitzer-Mauduit International, Inc. SWM Materials  Materials Small-Cap Value 0.50%
 The Greenbrier Companies, Inc. GBX Industrials  Industrials Small-Cap Value 0.50%
 Stewart Information Services Corporation STC Financials  Financials Small-Cap Value 0.49%
 Griffon Corporation GFF Industrials  Industrials Small-Cap Value 0.48%
 CSG Systems International, Inc. CSGS Information Technology  Information Technology Small-Cap Growth 0.48%
 Supernus Pharmaceuticals, Inc. SUPN Health Care  Health Care Small-Cap Value 0.48%
 e.l.f. Beauty, Inc. ELF Consumer Staples  Consumer Staples Small-Cap Growth 0.48%
 U.S. Physical Therapy, Inc. USPH Health Care  Health Care Small-Cap Growth 0.43%
 Align Technology, Inc. ALGN Health Care  Health Care Large-Cap Growth 0.42%
 Encore Capital Group, Inc. ECPG Financials  Financials Small-Cap Value 0.41%
 Stride Inc. LRN Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.40%
 Zumiez Inc. ZUMZ Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.39%
 Etsy, Inc. ETSY Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.39%
 Enova International, Inc. ENVA Financials  Financials Small-Cap Value 0.38%
 The Hershey Company HSY Consumer Staples  Consumer Staples Large-Cap Growth 0.38%
 Innoviva, Inc. INVA Health Care  Health Care Small-Cap Value 0.38%
 Old Dominion Freight Line, Inc. ODFL Industrials  Industrials Large-Cap Growth 0.36%
 Teradyne, Inc. TER Information Technology  Information Technology Mid-Cap Growth 0.34%
 OneSpan Inc. OSPN Information Technology  Information Technology Small-Cap Growth 0.33%
 Domino's Pizza, Inc. DPZ Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.33%
 U.S. Concrete, Inc. USCR Materials  Materials Small-Cap Value 0.33%
 America's Car-Mart, Inc. CRMT Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.31%
 Qorvo, Inc. QRVO Information Technology  Information Technology Mid-Cap Growth 0.31%
 The Sherwin-Williams Company SHW Materials  Materials Large-Cap Growth 0.30%
 Netflix, Inc. NFLX Communication Services  Communication Services Large-Cap Growth 0.30%
 Ebix, Inc. EBIX Information Technology  Information Technology Small-Cap Value 0.30%
 MSG Networks Inc. MSGN Communication Services  Communication Services Small-Cap Growth 0.30%
 The Clorox Company CLX Consumer Staples  Consumer Staples Mid-Cap Growth 0.28%
 Trimble Inc. TRMB Information Technology  Information Technology Mid-Cap Growth 0.28%
 Vanda Pharmaceuticals Inc. VNDA Health Care  Health Care Small-Cap Value 0.28%
 Global Life Inc. GL Financials  Financials Mid-Cap Value 0.27%
 Logitech International S.A. LOGI Information Technology  Information Technology Mid-Cap Growth 0.25%
 SpartanNash Company SPTN Consumer Staples  Consumer Staples Small-Cap Value 0.24%
 Bio-Rad Laboratories, Inc. (Class A) BIO Health Care  Health Care Mid-Cap Value 0.23%
 Collegium Pharmaceutical, Inc. COLL Health Care  Health Care Small-Cap Growth 0.23%
 Masco Corporation MAS Industrials  Industrials Mid-Cap Growth 0.22%
 Snap-on Incorporated SNA Industrials  Industrials Mid-Cap Value 0.22%
 Entegris, Inc. ENTG Information Technology  Information Technology Mid-Cap Growth 0.22%
 PetMed Express, Inc. PETS Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.21%
 Pool Corporation POOL Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.20%
 Deckers Outdoor Corporation DECK Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.19%
 NeoPhotonics Corporation NPTN Information Technology  Information Technology Small-Cap Growth 0.19%
 DaVita Inc. DVA Health Care  Health Care Mid-Cap Growth 0.18%
 Zynex, Inc. ZYXI Health Care  Health Care Small-Cap Growth 0.17%
 Copart, Inc. CPRT Industrials  Industrials Large-Cap Growth 0.16%
 Sealed Air Corporation SEE Materials  Materials Mid-Cap Growth 0.16%
 Marvell Technology Group Ltd. MRVL Information Technology  Information Technology Large-Cap Value 0.16%
 Avery Dennison Corporation AVY Materials  Materials Mid-Cap Growth 0.08%
 Celanese Corporation CE Materials  Materials Mid-Cap Growth 0.08%
 Take-Two Interactive Software, Inc. TTWO Communication Services  Communication Services Mid-Cap Growth 0.03%
 
Total Number of Holdings:    118
Underlying Securities information represented above is as of 04/12/2021 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.04500 April 20, 2021
$0.04500 May 20, 2021
$0.04500 June 18, 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.

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.

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.

Technology Risk. The companies engaged in the information technology sector are subject to fierce competition, high research and development costs, and their products and services may be subject to rapid obsolescence. Technology company stocks, especially those which are Internet-related, may experience extreme price and volume fluctuations that are often unrelated to their operating performance.

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 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.

The Dow Jones Industrial Average is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by First Trust Portfolios L.P. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by First Trust Portfolios L.P. This product is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product nor do they have any liability for any errors, omissions, or interruptions of the Dow Jones Industrial Average.

The Nasdaq 100®, Nasdaq 100 Index®, and Nasdaq® are trade or service marks of Nasdaq, Inc. (which with its affiliates are the Corporations) and are licensed for use by First Trust Portfolios L.P. The portfolio has not been passed on by the Corporations as to its legality or suitability. The portfolio is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PORTFOLIO.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by First Trust Portfolios L.P. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by First Trust Portfolios L.P. This product is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

"Value Line", "The Value Line Investment Survey", and "Timeliness" are trademarks or registered trademarks of Value Line, Inc. ("Value Line") and have been licensed for use for certain purposes by First Trust Portfolios L.P. This product is not sponsored, endorsed, recommended, sold or promoted by Value Line and Value Line makes no representation regarding the advisability of investing in products utilizing such strategy. First Trust Portfolios L.P. is not affiliated with any Value Line company.

Fund Cusip Information
30317A268 (Cash)
30317A276 (Reinvest)
30317A284 (Cash-Fee)
30317A292 (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.
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