Dividend Growers and Tax-Advantaged Income, 28  Ticker: FKFMRX
A unit investment trust that seeks current monthly income and capital appreciation by investing in tax-exempt municipal bonds as well as companies with a history of dividend growth and the potential to increase their dividends over time.
Please note that there is no assurance the objective will be met.
Product Code: MIDV28
Portfolio Status: Secondary
Initial Offer Date: 06/24/2021
Secondary Date: 09/07/2021
Portfolio Ending Date: 06/23/2023
Tax Structure: Regulated Investment Company
Distributions: Monthly
Initial Offer Price: $10.0000
NAV(*): $9.6536
POP(*): $9.8758
Remaining Deferred Sales Charge: $0.2250
* As of Trade Date: 10/15/2021 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 10/15/2021) Per Unit (as of 10/11/2021)
2.62% $0.25870
^ 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. 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  
 Vanguard Dividend Appreciation ETF VIG 5.20%
 iShares Core Dividend Growth ETF DGRO 5.18%
 WisdomTree U.S. Quality Dividend Growth Fund DGRW 5.14%
 ProShares MSCI EAFE Dividend Growers ETF EFAD 5.09%
 ProShares S&P 500 Dividend Aristocrats ETF NOBL 5.08%
 Invesco National AMT-Free Municipal Bond ETF PZA 4.93%
 SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF HYMB 4.93%
 VanEck Short High Yield Muni ETF SHYD 4.92%
 VanEck Long Muni ETF MLN 4.89%
 VanEck High Yield Muni ETF HYD 4.88%
 BNY Mellon Municipal Income, Inc. DMF 2.57%
 Invesco Advantage Municipal Income Trust II VKI 2.55%
 BlackRock Municipal Income Trust II BLE 2.49%
 MFS High Income Municipal Trust CXE 2.47%
 Eaton Vance Municipal Bond Fund EIM 2.47%
 Invesco Value Municipal Income Trust IIM 2.45%
 BNY Mellon Strategic Municipals, Inc. LEO 2.43%
 Nuveen Municipal Credit Income Fund NZF 2.42%
 Nuveen Municipal High Income Opportunity Fund NMZ 2.42%
 Pioneer Municipal High Income Advantage Fund, Inc. MAV 2.39%
 First American Financial Corporation FAF 1.19%
 The Home Depot, Inc. HD 1.15%
 JPMorgan Chase & Co. JPM 1.09%
 General Dynamics Corporation GD 1.09%
 U.S. Bancorp USB 1.08%
 Tyson Foods, Inc. (Class A) TSN 1.06%
 T. Rowe Price Group, Inc. TROW 1.05%
 Cisco Systems, Inc. CSCO 1.04%
 Texas Instruments Incorporated TXN 1.03%
 Snap-on Incorporated SNA 1.02%
 American Electric Power Company, Inc. AEP 1.01%
 Advance Auto Parts, Inc. AAP 1.00%
 Citigroup Inc. C 0.99%
 Lockheed Martin Corporation LMT 0.97%
 Mondelez International, Inc. MDLZ 0.97%
 Johnson & Johnson JNJ 0.96%
 3M Company MMM 0.96%
 Whirlpool Corporation WHR 0.95%
 ViacomCBS Inc. VIAC 0.95%
 M.D.C. Holdings, Inc. MDC 0.95%
 HP Inc. HPQ 0.94%
 Newmont Corporation NEM 0.92%
 LyondellBasell Industries N.V. LYB 0.92%
 United Parcel Service, Inc. (Class B) UPS 0.89%
 Amgen Inc. AMGN 0.83%
Total Number of Holdings:    45
Underlying Securities information represented above is as of 10/14/2021 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.07500 October 20, 2021
$0.07500 November 19, 2021
$0.07500 December 20, 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.

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.

Closed-End Fund and ETF Risk. Closed-end funds and 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, closed-end funds 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 and closed-end funds frequently trade at a discount from their net asset value in the secondary market. Certain closed-end funds in which the portfolio invests may employ the use of leverage, which increases the volatility of such funds.

COVID-19 Economic Impact Risk. The COVID-19 global pandemic has caused significant volatility and declines in global financial markets, causing losses for investors. The development of vaccines has slowed the spread of the virus and allowed for the resumption of "reasonably" normal business activity in the United States, although many countries continue to impose lockdown measures. Additionally, there is no guarantee that vaccines will be effective against emerging variants of the disease.

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.

Municipal Bonds Risk. Municipal bonds are subject to numerous risks, including higher interest rates, economic recession, deterioration of the municipal bond market, possible downgrades and defaults of interest and/or principal.

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.