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60/40 Strategic Allocation, 1st Qtr 2021  Ticker: FCRTXX
A unit investment trust which seeks the potential for above-average total return by investing approximately 60% of its assets in common stocks which are selected by applying a disciplined investment strategy and 40% of its assets in exchange-traded funds which invest in fixed-income securities.
Please note that there is no assurance the objective will be met.
Product Code: 6S1Q21
Portfolio Status: Secondary
Initial Offer Date: 01/12/2021
Secondary Date: 04/13/2021
Portfolio Ending Date: 04/18/2022
Tax Structure: Regulated Investment Company
Distributions: Monthly
Initial Offer Price: $10.0000
NAV(*): $10.2475
POP(*): $10.3877
Remaining Deferred Sales Charge: $0.0900
* As of Trade Date: 04/16/2021 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 4/16/2021) Per Unit (as of 4/9/2021)
1.86% $0.19300
^ 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  Export Current Holdings | View Initial Holdings  
 First Trust Senior Loan Fund FTSL 1.72%
 SPDR Blackstone Senior Loan ETF SRLN 1.71%
 Invesco Senior Loan ETF BKLN 1.70%
 First Trust Low Duration Opportunities ETF LMBS 1.70%
 SPDR Portfolio Mortgage Backed Bond ETF SPMB 1.69%
 PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund CORP 1.67%
 iShares 10+ Year Investment Grade Corporate Bond ETF IGLB 1.66%
 iShares Core 10+ Year USD Bond ETF ILTB 1.64%
 SPDR Bloomberg Barclays Short Term High Yield Bond ETF SJNK 1.55%
 SPDR Bloomberg Barclays High Yield Bond ETF JNK 1.54%
 iShares Broad USD High Yield Corporate Bond ETF USHY 1.53%
 Janus Henderson Mortgage-Backed Securities ETF JMBS 1.52%
 iShares MBS ETF MBB 1.51%
 iShares International Aggregate Bond ETF IAGG 1.50%
 Vanguard Intermediate-Term Corporate Bond ETF VCIT 1.49%
 Vanguard Long-Term Corporate Bond ETF VCLT 1.47%
 SPDR Portfolio Long Term Corporate Bond ETF SPLB 1.47%
 iShares 0-5 Year High Yield Corporate Bond ETF SHYG 1.35%
 First Trust Tactical High Yield ETF HYLS 1.33%
 Vanguard Mortgage-Backed Securities ETF VMBS 1.32%
 iShares Trust iShares 5-10 Year Investment Grade Corporate Bond ETF IGIB 1.31%
 Vanguard Intermediate-Term Treasury ETF VGIT 1.31%
 iShares iBoxx $ Investment Grade Corporate Bond ETF LQD 1.30%
 Invesco Emerging Markets Sovereign Debt ETF PCY 1.30%
 VanEck Vectors J.P. Morgan EM Local Currency Bond ETF EMLC 1.29%
 Applied Materials, Inc. AMAT 0.66%
 D.R. Horton, Inc. DHI 0.65%
 Volkswagen AG (ADR) VWAGY 0.64%
 Deere & Company DE 0.61%
 Alphabet Inc. (Class C) GOOG 0.61%
 Intel Corporation INTC 0.60%
 Lam Research Corporation LRCX 0.59%
 Lowe's Companies, Inc. LOW 0.59%
 Exxon Mobil Corporation XOM 0.58%
 Tyson Foods, Inc. (Class A) TSN 0.58%
 EOG Resources, Inc. EOG 0.58%
 Caterpillar Inc. CAT 0.57%
 Microsoft Corporation MSFT 0.57%
 Aflac Incorporated AFL 0.57%
 The Kroger Co. KR 0.56%
 Lockheed Martin Corporation LMT 0.56%
 Berkshire Hathaway Inc. (Class B) BRK/B 0.56%
 AutoZone, Inc. AZO 0.55%
 Micron Technology, Inc. MU 0.55%
 T. Rowe Price Group, Inc. TROW 0.55%
 L3Harris Technologies Inc. LHX 0.55%
 Cigna Corporation CI 0.55%
 Archer-Daniels-Midland Company ADM 0.54%
 Automatic Data Processing, Inc. ADP 0.54%
 Amazon.com, Inc. AMZN 0.54%
 HCA Healthcare, Inc. HCA 0.54%
 The Allstate Corporation ALL 0.53%
 Philip Morris International Inc. PM 0.53%
 Public Service Enterprise Group Incorporated PEG 0.52%
 Exelon Corporation EXC 0.52%
 Cadence Design Systems, Inc. CDNS 0.52%
 Align Technology, Inc. ALGN 0.52%
 PACCAR Inc PCAR 0.51%
 The Hershey Company HSY 0.51%
 The Progressive Corporation PGR 0.51%
 Activision Blizzard, Inc. ATVI 0.51%
 Anthem, Inc. ANTM 0.51%
 Hormel Foods Corporation HRL 0.50%
 Newmont Corporation NEM 0.50%
 The Bank of New York Mellon Corporation BK 0.50%
 O'Reilly Automotive, Inc. ORLY 0.50%
 Target Corporation TGT 0.49%
 Costco Wholesale Corporation COST 0.49%
 The Sherwin-Williams Company SHW 0.49%
 Electronic Arts Inc. EA 0.49%
 Monster Beverage Corporation MNST 0.49%
 Humana Inc. HUM 0.48%
 Ball Corporation BLL 0.48%
 ASML Holding N.V. (New York Registry Shares) ASML 0.48%
 The Procter & Gamble Company PG 0.47%
 The Clorox Company CLX 0.47%
 Fastenal Company FAST 0.47%
 Regeneron Pharmaceuticals, Inc. REGN 0.47%
 Biogen Inc. BIIB 0.47%
 Dollar General Corporation DG 0.47%
 Zoetis Inc. ZTS 0.47%
 Walmart, Inc. WMT 0.45%
 Vertex Pharmaceuticals Incorporated VRTX 0.45%
 Centene Corporation CNC 0.45%
 ResMed Inc. RMD 0.44%
 Tokyo Electron Limited (ADR) TOELY 0.44%
 Merck & Co., Inc. MRK 0.43%
 Koninklijke Philips N.V. (New York Registry Shares) PHG 0.42%
 L'Oreal S.A. (ADR) LRLCY 0.42%
 Hermes International (ADR) HESAY 0.42%
 Sony Group Corp. (ADR) SONY 0.41%
 Accenture Plc ACN 0.41%
 Linde Plc LIN 0.41%
 Advanced Micro Devices, Inc. AMD 0.40%
 British American Tobacco Plc (ADR) BTI 0.40%
 Sanofi (ADR) SNY 0.40%
 Schneider Electric SE (ADR) SBGSY 0.40%
 Toyota Motor Corporation (ADR) TM 0.39%
 BHP Group Ltd (ADR) BHP 0.39%
 Nestle S.A. (ADR) NSRGY 0.39%
 Novo Nordisk A/S (ADR) NVO 0.39%
 Air Liquide S.A. (ADR) AIQUY 0.39%
 KDDI Corporation (ADR) KDDIY 0.39%
 GlaxoSmithKline Plc (ADR) GSK 0.38%
 Rio Tinto Plc (ADR) RIO 0.38%
 Royal Dutch Shell Plc (ADR) RDS/A 0.38%
 Nippon Telegraph and Telephone Corporation (ADR) NTTYY 0.37%
 Roche Holding AG (ADR) RHHBY 0.36%
 Zurich Insurance Group AG (ADR) ZURVY 0.36%
 Nintendo Co., Ltd. (ADR) NTDOY 0.36%
 Enel SpA (ADR) ENLAY 0.36%
 Shin-Etsu Chemical Co., Ltd. (ADR) SHECY 0.36%
 Iberdrola S.A. (ADR) IBDRY 0.35%
 Hoya Corporation (ADR) HOCPY 0.35%
 Murata Manufacturing Co. Ltd. (ADR) MRAAY 0.33%
 Williams-Sonoma, Inc. WSM 0.29%
 The Boston Beer Company, Inc. SAM 0.27%
 First Citizens BancShares, Inc. (Class A) FCNCA 0.27%
 Snap-on Incorporated SNA 0.26%
 The Hartford Financial Services Group, Inc. HIG 0.26%
 NVR, Inc. NVR 0.26%
 Lennar Corporation LEN 0.26%
 MasTec, Inc. MTZ 0.25%
 Medpace Holdings, Inc. MEDP 0.25%
 People's United Financial, Inc. PBCT 0.24%
 PulteGroup, Inc. PHM 0.24%
 Quanta Services, Inc. PWR 0.24%
 Dick's Sporting Goods, Inc. DKS 0.24%
 Generac Holdings Inc. GNRC 0.24%
 MDU Resources Group, Inc. MDU 0.23%
 Tractor Supply Company TSCO 0.23%
 Landstar System, Inc. LSTR 0.23%
 Lithia Motors, Inc. LAD 0.23%
 Freshpet, Inc. FRPT 0.23%
 Atmos Energy Corporation ATO 0.22%
 The J.M. Smucker Company SJM 0.22%
 Expeditors International of Washington, Inc. EXPD 0.22%
 Reliance Steel & Aluminum Co. RS 0.22%
 Watsco, Inc. WSO 0.22%
 United Therapeutics Corporation UTHR 0.22%
 First American Financial Corporation FAF 0.22%
 Knight-Swift Transportation Holdings Inc. KNX 0.22%
 Avangrid, Inc. AGR 0.22%
 Pinnacle West Capital Corporation PNW 0.21%
 The Toro Company TTC 0.21%
 Darling Ingredients Inc. DAR 0.21%
 Universal Health Services, Inc. (Class B) UHS 0.20%
 Lancaster Colony Corporation LANC 0.20%
 Kemper Corporation KMPR 0.20%
 Tetra Tech, Inc. TTEK 0.20%
 Church & Dwight Co., Inc. CHD 0.20%
 CACI International Inc. CACI 0.20%
 Bio-Rad Laboratories, Inc. (Class A) BIO 0.20%
 Prosperity Bancshares, Inc. PB 0.20%
 Molson Coors Beverage Company TAP 0.20%
 Molina Healthcare, Inc. MOH 0.20%
 Dolby Laboratories, Inc. DLB 0.20%
 The New York Times Company (Class A) NYT 0.19%
 Henry Schein, Inc. HSIC 0.19%
 NRG Energy, Inc. NRG 0.19%
 Ollie's Bargain Outlet Holdings, Inc. OLLI 0.19%
 Teradyne, Inc. TER 0.18%
 Pool Corporation POOL 0.18%
 Cabot Oil & Gas Corporation COG 0.18%
 Haemonetics Corporation HAE 0.18%
 National Instruments Corporation NATI 0.18%
 Monolithic Power Systems, Inc. MPWR 0.18%
 BioMarin Pharmaceutical Inc. BMRN 0.18%
 Chemed Corporation CHE 0.17%
 Power Integrations, Inc. POWI 0.17%
 LHC Group, Inc. LHCG 0.17%
 Erie Indemnity Company ERIE 0.17%
 Take-Two Interactive Software, Inc. TTWO 0.16%
 LGI Homes, Inc. LGIH 0.16%
 Vistra Corp. VST 0.16%
 TTEC Holdings, Inc. TTEC 0.14%
 M.D.C. Holdings, Inc. MDC 0.13%
 Amkor Technology, Inc. AMKR 0.13%
 Commercial Metals Company CMC 0.13%
 Asbury Automotive Group, Inc. ABG 0.13%
 Telephone and Data Systems, Inc. TDS 0.12%
 Insight Enterprises, Inc. NSIT 0.12%
 Saia, Inc. SAIA 0.12%
 FTI Consulting, Inc. FCN 0.12%
 Synaptics Incorporated SYNA 0.12%
 National Beverage Corp. FIZZ 0.12%
 Quidel Corporation QDEL 0.12%
 PS Business Parks, Inc. PSB 0.12%
 Tri Pointe Homes, Inc. TPH 0.12%
 Southwest Gas Holdings, Inc. SWX 0.12%
 Werner Enterprises, Inc. WERN 0.11%
 Worthington Industries, Inc. WOR 0.11%
 Trustmark Corporation TRMK 0.11%
 Simmons First National Corporation SFNC 0.11%
 Vishay Intertechnology, Inc. VSH 0.11%
 Sanmina Corporation SANM 0.11%
 United States Cellular Corporation USM 0.11%
 Silgan Holdings Inc. SLGN 0.11%
 Meritage Homes Corporation MTH 0.11%
 Hub Group, Inc. HUBG 0.11%
 California Water Service Group CWT 0.11%
 World Wrestling Entertainment, Inc. WWE 0.11%
 Matson, Inc. MATX 0.11%
 Hilltop Holdings Inc. HTH 0.11%
 The Ensign Group, Inc. ENSG 0.11%
 Murphy USA Inc. MUSA 0.11%
 ONE Gas, Inc. OGS 0.11%
 Schneider National, Inc. (Class B) SNDR 0.11%
 American National Group, Inc. ANAT 0.11%
 Graham Holdings Company GHC 0.10%
 Equity Commonwealth EQC 0.10%
 UniFirst Corporation UNF 0.10%
 World Fuel Services Corporation INT 0.10%
 Simpson Manufacturing Co., Inc. SSD 0.10%
 Gibraltar Industries, Inc. ROCK 0.10%
 ALLETE, Inc. ALE 0.10%
 Diodes Incorporated DIOD 0.10%
 Crocs, Inc. CROX 0.10%
 AAON, Inc. AAON 0.10%
 Stepan Company SCL 0.10%
 NetScout Systems, Inc. NTCT 0.10%
 Strategic Education, Inc. STRA 0.09%
 ICU Medical, Inc. ICUI 0.09%
 PriceSmart, Inc. PSMT 0.09%
 Stamps.com Inc. STMP 0.09%
 Badger Meter, Inc. BMI 0.09%
 ManTech International Corporation MANT 0.09%
 SPS Commerce, Inc. SPSC 0.09%
 Qualys, Inc. QLYS 0.09%
 CareDx, Inc. CDNA 0.09%
 Houlihan Lokey, Inc. HLI 0.09%
 Cannae Holdings, Inc. CNNE 0.09%
 Corcept Therapeutics Incorporated CORT 0.08%
 Ameresco, Inc. (Class A) AMRC 0.08%
 Renewable Energy Group, Inc. REGI 0.07%
Total Number of Holdings:    235
Underlying Securities information represented above is as of 04/15/2021 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.

Brexit Risk. About one year after the United Kingdom officially departed the European Union (commonly referred to as "Brexit"), the United Kingdom and the European Union reached a trade agreement that became effective on December 31, 2020. It is not currently possible to determine the extent of the impact the Brexit trade agreement may have on the portfolio's investments and this uncertainty could negatively impact current and future economic conditions in the United Kingdom and other countries, which could negatively impact the value of the portfolio's investments.

Covenant-Lite Loan Risk. Certain of the funds invest significantly in "covenant-lite" loans, which are loans made with minimal protections for the lender. Because covenant-lite loans are less restrictive on borrowers and provide less protection for lenders than typical corporate loans, the risk of default may be significantly higher.

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.

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.

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.

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.

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

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.

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.

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 cybersecurity.

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
30317D726 (Cash)
30317D734 (Reinvest)
30317D742 (Cash-Fee)
30317D759 (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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