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75/25 Strategic Allocation, 2nd Qtr 2023  Ticker: FMTVLX
A unit investment trust which seeks the potential for above-average total return by investing approximately 75% of its assets in common stocks which are selected by applying a disciplined investment strategy and 25% 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: 7S2Q23
Portfolio Status: Secondary
Initial Offer Date: 04/11/2023
Secondary Date: 07/11/2023
Portfolio Ending Date: 07/16/2024
Tax Structure: Regulated Investment Company
Distributions: Monthly
Initial Offer Price: $10.0000
NAV(*): $9.8335
POP(*): $9.9681
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 09/27/2023 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 9/27/2023) Per Unit (as of 9/25/2023)
2.55% $0.25400
^ 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  
 SPDR Blackstone Senior Loan ETF SRLN 1.01%
 VanEck IG Floating Rate ETF FLTR 1.01%
 Invesco Variable Rate Preferred ETF VRP 1.01%
 First Trust Senior Loan Fund FTSL 1.00%
 SPDR Bloomberg Investment Grade Floating Rate ETF FLRN 1.00%
 iShares Short Treasury Bond ETF SHV 0.99%
 Invesco Senior Loan ETF BKLN 0.99%
 PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund HYS 0.99%
 SPDR Bloomberg Short Term High Yield Bond ETF SJNK 0.99%
 First Trust Tactical High Yield ETF HYLS 0.98%
 iShares 0-5 Year High Yield Corporate Bond ETF SHYG 0.98%
 iShares Broad USD High Yield Corporate Bond ETF USHY 0.98%
 SPDR Portfolio High Yield Bond ETF SPHY 0.98%
 Vanguard Total International Bond ETF BNDX 0.97%
 SPDR ICE Preferred Securities ETF PSK 0.95%
 iShares Trust iShares 5-10 Year Investment Grade Corporate Bond ETF IGIB 0.94%
 iShares Broad USD Investment Grade Corporate Bond ETF USIG 0.94%
 Vanguard Intermediate-Term Corporate Bond ETF VCIT 0.94%
 Vanguard Mortgage-Backed Securities ETF VMBS 0.94%
 Schwab 5-10 Year Corporate Bond ETF SCHI 0.94%
 iShares MBS ETF MBB 0.93%
 SPDR Portfolio Mortgage Backed Bond ETF SPMB 0.93%
 Janus Henderson Mortgage-Backed Securities ETF JMBS 0.93%
 Chevron Corporation CVX 0.91%
 SPDR Portfolio Long Term Corporate Bond ETF SPLB 0.90%
 Vanguard Long-Term Corporate Bond ETF VCLT 0.89%
 Caterpillar Inc. CAT 0.77%
 Charter Communications, Inc. (Class A) CHTR 0.76%
 PACCAR Inc PCAR 0.75%
 Lam Research Corporation LRCX 0.74%
 Old Dominion Freight Line, Inc. ODFL 0.74%
 Aflac Incorporated AFL 0.73%
 Applied Materials, Inc. AMAT 0.72%
 ON Semiconductor Corporation ON 0.72%
 Costco Wholesale Corporation COST 0.70%
 Cognizant Technology Solutions Corporation CTSH 0.70%
 The TJX Companies, Inc. TJX 0.69%
 D.R. Horton, Inc. DHI 0.69%
 Cencora Inc. COR 0.69%
 Vertex Pharmaceuticals Incorporated VRTX 0.68%
 Arista Networks, Inc. ANET 0.68%
 The Cigna Group CI 0.68%
 Walmart Inc. WMT 0.67%
 Lennar Corporation LEN 0.67%
 W.W. Grainger, Inc. GWW 0.66%
 Hess Corporation HES 0.66%
 Diamondback Energy, Inc. FANG 0.66%
 Toyota Motor Corporation TM 0.65%
 Fastenal Company FAST 0.65%
 EOG Resources, Inc. EOG 0.65%
 Valero Energy Corporation VLO 0.65%
 DuPont de Nemours Inc. DD 0.65%
 Intel Corporation INTC 0.64%
 Nucor Corporation NUE 0.64%
 Cisco Systems, Inc. CSCO 0.64%
 Pioneer Natural Resources Company PXD 0.64%
 CME Group Inc. CME 0.64%
 Exxon Mobil Corporation XOM 0.63%
 Regeneron Pharmaceuticals, Inc. REGN 0.63%
 Visa Inc. (Class A) V 0.63%
 UnitedHealth Group Incorporated UNH 0.62%
 The Procter & Gamble Company PG 0.62%
 Deere & Company DE 0.62%
 Johnson & Johnson JNJ 0.60%
 The Travelers Companies, Inc. TRV 0.60%
 Archer-Daniels-Midland Company ADM 0.59%
 Super Micro Computer, Inc. SMCI 0.59%
 Merck & Co., Inc. MRK 0.58%
 Abbott Laboratories ABT 0.58%
 Hitachi, Ltd. (ADR) HTHIY 0.58%
 Novo Nordisk A/S (ADR) NVO 0.57%
 General Motors Company GM 0.57%
 Tokyo Electron Limited (ADR) TOELY 0.56%
 Dow Inc. DOW 0.56%
 Accenture Plc ACN 0.55%
 Equinor ASA EQNR 0.55%
 The Kraft Heinz Company KHC 0.55%
 Industria de Diseno Textil, S.A. (ADR) IDEXY 0.55%
 Canadian Natural Resources Limited CNQ 0.54%
 Public Storage PSA 0.53%
 Eni SpA (ADR) E 0.53%
 Tractor Supply Company TSCO 0.53%
 Verizon Communications Inc. VZ 0.52%
 KDDI Corporation (ADR) KDDIY 0.52%
 Corteva Inc. CTVA 0.52%
 Shell Plc (ADR) SHEL 0.52%
 WEC Energy Group, Inc. WEC 0.51%
 TotalEnergies SE (ADR) TTE 0.51%
 Nippon Telegraph and Telephone Corporation (ADR) NTTYY 0.51%
 Keysight Technologies, Inc. KEYS 0.51%
 Xcel Energy Inc. XEL 0.50%
 United Parcel Service, Inc. (Class B) UPS 0.50%
 Shin-Etsu Chemical Co., Ltd. (ADR) SHECY 0.50%
 The Hershey Company HSY 0.49%
 Sanofi (ADR) SNY 0.49%
 Pfizer Inc. PFE 0.48%
 Air Liquide S.A. (ADR) AIQUY 0.48%
 Takeda Pharmaceutical Company Limited (ADR) TAK 0.48%
 Glencore Plc (ADR) GLNCY 0.48%
 Daikin Industries, Ltd. (ADR) DKILY 0.48%
 General Mills, Inc. GIS 0.47%
 Bayerische Motoren Werke AG (ADR) BMWYY 0.47%
 Sony Group Corp. (ADR) SONY 0.46%
 Rio Tinto Plc (ADR) RIO 0.46%
 Ulta Beauty, Inc. ULTA 0.46%
 Mercedes-Benz Group AG (ADR) MBGYY 0.46%
 BHP Group Ltd (ADR) BHP 0.45%
 British American Tobacco Plc (ADR) BTI 0.45%
 L'Oreal S.A. (ADR) LRLCY 0.45%
 Iberdrola S.A. (ADR) IBDRY 0.44%
 Deutsche Post AG (ADR) DHLGY 0.44%
 Hermes International (ADR) HESAY 0.44%
 Dollar Tree, Inc. DLTR 0.43%
 Deutsche Telekom AG (ADR) DTEGY 0.42%
 Moderna, Inc. MRNA 0.38%
 Saia, Inc. SAIA 0.36%
 Lithia Motors, Inc. LAD 0.34%
 Murphy USA Inc. MUSA 0.33%
 UFP Industries Inc. UFPI 0.32%
 Williams-Sonoma, Inc. WSM 0.32%
 Comfort Systems USA, Inc. FIX 0.32%
 PBF Energy Inc. PBF 0.32%
 TopBuild Corp. BLD 0.32%
 Medpace Holdings, Inc. MEDP 0.32%
 United States Steel Corporation X 0.31%
 Toll Brothers, Inc. TOL 0.31%
 Unum Group UNM 0.31%
 PulteGroup, Inc. PHM 0.31%
 Jabil Inc. JBL 0.31%
 Coca-Cola Consolidated Inc. COKE 0.30%
 Dollar General Corporation DG 0.30%
 HF Sinclair Corp. DINO 0.30%
 Eagle Materials Inc. EXP 0.29%
 Penske Automotive Group, Inc. PAG 0.29%
 EQT Corporation EQT 0.29%
 RPM International Inc. RPM 0.28%
 Watsco, Inc. WSO 0.28%
 Asbury Automotive Group, Inc. ABG 0.28%
 SPS Commerce, Inc. SPSC 0.28%
 Civitas Resources, Inc. CIVI 0.28%
 J.B. Hunt Transport Services, Inc. JBHT 0.27%
 Snap-on Incorporated SNA 0.27%
 Old Republic International Corporation ORI 0.27%
 Deckers Outdoor Corporation DECK 0.27%
 Liberty Broadband Corporation (Class C) LBRDK 0.27%
 Arrow Electronics, Inc. ARW 0.26%
 Expeditors International of Washington, Inc. EXPD 0.26%
 RLI Corp. RLI 0.26%
 Commercial Metals Company CMC 0.26%
 Reliance Steel & Aluminum Co. RS 0.26%
 Westlake Corporation WLK 0.26%
 Packaging Corporation of America PKG 0.26%
 Schneider National, Inc. (Class B) SNDR 0.26%
 The New York Times Company (Class A) NYT 0.25%
 Landstar System, Inc. LSTR 0.25%
 Coterra Energy Inc. CTRA 0.25%
 Steel Dynamics, Inc. STLD 0.24%
 BJ's Wholesale Club Holdings, Inc. BJ 0.24%
 Atmos Energy Corporation ATO 0.23%
 Amkor Technology, Inc. AMKR 0.23%
 Inter Parfums, Inc. IPAR 0.23%
 The Ensign Group, Inc. ENSG 0.23%
 Knight-Swift Transportation Holdings Inc. KNX 0.23%
 Prosperity Bancshares, Inc. PB 0.22%
 Monolithic Power Systems, Inc. MPWR 0.22%
 Graphic Packaging Holding Company GPK 0.22%
 Flowers Foods, Inc. FLO 0.21%
 Tyson Foods, Inc. (Class A) TSN 0.21%
 Silgan Holdings Inc. SLGN 0.20%
 The Mosaic Company MOS 0.20%
 Boise Cascade Company BCC 0.20%
 CONSOL Energy Inc. CEIX 0.20%
 Alpha Metallurgical Resources, Inc. AMR 0.20%
 QuidelOrtho Corporation QDEL 0.20%
 Campbell Soup Company CPB 0.19%
 M/I Homes, Inc. MHO 0.18%
 Onto Innovation Inc. ONTO 0.18%
 Matson, Inc. MATX 0.18%
 Cirrus Logic, Inc. CRUS 0.17%
 Earthstone Energy, Inc. (Class A) ESTE 0.17%
 MGIC Investment Corporation MTG 0.16%
 Badger Meter, Inc. BMI 0.16%
 NMI Holdings, Inc. (Class A) NMIH 0.16%
 Arch Resources Inc. ARCH 0.16%
 Warrior Met Coal, Inc. HCC 0.16%
 KB Home KBH 0.15%
 Axcelis Technologies, Inc. ACLS 0.15%
 NewMarket Corporation NEU 0.15%
 Sprouts Farmers Market, Inc. SFM 0.15%
 Vista Outdoor Inc. VSTO 0.15%
 Arcosa, Inc. ACA 0.15%
 Mueller Industries, Inc. MLI 0.14%
 Radian Group Inc. RDN 0.14%
 M.D.C. Holdings, Inc. MDC 0.14%
 Rush Enterprises, Inc. (Class A) RUSHA 0.14%
 Otter Tail Corporation OTTR 0.13%
 Brady Corporation BRC 0.13%
 The Brink's Company BCO 0.13%
 Cathay General Bancorp CATY 0.13%
 Avnet, Inc. AVT 0.13%
 Meritage Homes Corporation MTH 0.13%
 Encore Wire Corporation WIRE 0.13%
 LCI Industries LCII 0.13%
 Genworth Financial, Inc. GNW 0.13%
 CBIZ, Inc. CBZ 0.13%
 CVB Financial Corp. CVBF 0.13%
 Grand Canyon Education, Inc. LOPE 0.13%
 Tri Pointe Homes, Inc. TPH 0.13%
 Acushnet Holdings Corp. GOLF 0.13%
 FirstCash Holdings, Inc. FCFS 0.13%
 Plexus Corp. PLXS 0.12%
 AMN Healthcare Services, Inc. AMN 0.12%
 Hub Group, Inc. HUBG 0.12%
 Innospec Inc. IOSP 0.12%
 CorVel Corporation CRVL 0.12%
 NetScout Systems, Inc. NTCT 0.12%
 Chewy, Inc. (Class A) CHWY 0.12%
 Werner Enterprises, Inc. WERN 0.11%
 Sanmina Corporation SANM 0.11%
 Cabot Corporation CBT 0.11%
 Steven Madden, Ltd. SHOO 0.11%
 Skyline Champion Corporation SKY 0.11%
 Cavco Industries, Inc. CVCO 0.11%
 Cal-Maine Foods, Inc. CALM 0.11%
 Diodes Incorporated DIOD 0.11%
 EchoStar Corporation (Class A) SATS 0.11%
 Peabody Energy Corporation BTU 0.11%
 Ingles Markets, Incorporated IMKTA 0.10%
 Weis Markets, Inc. WMK 0.09%
 O-I Glass, Inc. OI 0.09%
 Tootsie Roll Industries, Inc. TR 0.08%
 Forward Air Corporation FWRD 0.08%
 Vir Biotechnology, Inc. VIR 0.05%
 Hawaiian Electric Industries, Inc. HE 0.04%
Total Number of Holdings:    234
Underlying Securities information represented above is as of 09/26/2023 but will vary with future fluctuations in the market.

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. The United Kingdom's official departure from the European Union (commonly referred to as "Brexit") led to volatility in global financial markets, in particular those of the United Kingdom and across Europe, and the weakening in political, regulatory, consumer, corporate and financial confidence in the United Kingdom and Europe. It is not currently possible to determine the extent of the impact that Brexit 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 ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease.

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. Securities of non-U.S. issuers are subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers.

High-Yield or Junk Bonds Risk. Investing in high-yield securities or "junk" bonds should be viewed as speculative and you should review your ability to assume the risks associated with investments which utilize such securities. High-yield securities are subject to numerous risks, including higher interest rates, economic recession, deterioration of the junk bond market, possible downgrades and defaults of interest and/or principal. High-yield security prices tend to fluctuate more than higher rated securities and are affected by short-term credit developments to a greater degree.

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.

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.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by FactSet Research Systems Inc. and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, ©2023 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.

Fund Cusip Information
30330V547 (Cash)
30330V554 (Reinvest)
30330V562 (Cash-Fee)
30330V570 (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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