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75/25 Strategic Allocation, 2nd Qtr 2025  Ticker: FRTQAX
 
Description
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.
 
Summary
Product Code: 7S2Q25
Portfolio Status: Secondary
Initial Offer Date: 04/11/2025
Secondary Date: 07/11/2025
Portfolio Ending Date: 07/16/2026
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $10.4831
POP(*): $10.6265
Remaining Deferred Sales Charge: $0.0900
* As of Trade Date: 07/30/2025 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 7/30/2025) Per Unit (as of 7/28/2025)
2.64% $0.28070
^ 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  
NameSymbolWeighting
 iShares Preferred & Income Securities ETF PFF 0.98%
 VanEck J.P. Morgan EM Local Currency Bond ETF EMLC 0.97%
 iShares High Yield Systematic Bond ETF HYDB 0.97%
 SPDR Bloomberg High Yield Bond ETF JNK 0.96%
 Vanguard Long-Term Corporate Bond ETF VCLT 0.96%
 iShares 10+ Year Investment Grade Corporate Bond ETF IGLB 0.96%
 PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund HYS 0.96%
 SPDR Portfolio Long Term Corporate Bond ETF SPLB 0.96%
 SPDR Bloomberg Short Term High Yield Bond ETF SJNK 0.96%
 iShares 0-5 Year High Yield Corporate Bond ETF SHYG 0.96%
 iShares Broad USD High Yield Corporate Bond ETF USHY 0.96%
 SPDR Portfolio High Yield Bond ETF SPHY 0.96%
 iShares iBoxx $ Investment Grade Corporate Bond ETF LQD 0.95%
 First Trust Tactical High Yield ETF HYLS 0.95%
 SPDR Blackstone Senior Loan ETF SRLN 0.95%
 Invesco Variable Rate Preferred ETF VRP 0.95%
 Schwab 5-10 Year Corporate Bond ETF SCHI 0.95%
 Amphenol Corporation APH 0.94%
 Invesco Senior Loan ETF BKLN 0.94%
 Vanguard Mortgage-Backed Securities ETF VMBS 0.93%
 VanEck IG Floating Rate ETF FLTR 0.93%
 Janus Henderson Mortgage-Backed Securities ETF JMBS 0.93%
 SPDR Bloomberg Investment Grade Floating Rate ETF FLRN 0.93%
 iShares Short Treasury Bond ETF SHV 0.92%
 SPDR Portfolio Short Term Corporate Bond ETF SPSB 0.92%
 WisdomTree Floating Rate Treasury Fund USFR 0.92%
 Caterpillar Inc. CAT 0.85%
 Veeva Systems Inc. (Class A) VEEV 0.79%
 ResMed Inc. RMD 0.76%
 Valero Energy Corporation VLO 0.76%
 Alphabet Inc. (Class A) GOOGL 0.74%
 Amazon.com, Inc. AMZN 0.73%
 Newmont Corporation NEM 0.72%
 D.R. Horton, Inc. DHI 0.71%
 Diamondback Energy, Inc. FANG 0.71%
 Cardinal Health, Inc. CAH 0.69%
 EOG Resources, Inc. EOG 0.67%
 ConocoPhillips COP 0.67%
 Prosus N.V. (ADR) PROSY 0.67%
 General Dynamics Corporation GD 0.66%
 Chevron Corporation CVX 0.66%
 Live Nation Entertainment, Inc. LYV 0.66%
 Exxon Mobil Corporation XOM 0.65%
 Illinois Tool Works Inc. ITW 0.65%
 Tractor Supply Company TSCO 0.65%
 Johnson & Johnson JNJ 0.64%
 PACCAR Inc PCAR 0.64%
 The Hershey Company HSY 0.64%
 Lennar Corporation LEN 0.64%
 Visa Inc. (Class A) V 0.63%
 Walmart Inc. WMT 0.62%
 The Hartford Insurance Group, Inc. HIG 0.62%
 HSBC Holdings Plc (ADR) HSBC 0.62%
 Cognizant Technology Solutions Corporation CTSH 0.62%
 Fortinet, Inc. FTNT 0.62%
 VICI Properties Inc. VICI 0.62%
 Automatic Data Processing, Inc. ADP 0.61%
 The Williams Companies, Inc. WMB 0.61%
 CME Group Inc. CME 0.61%
 Xcel Energy Inc. XEL 0.60%
 Altria Group, Inc. MO 0.60%
 The Travelers Companies, Inc. TRV 0.60%
 Mondelez International, Inc. MDLZ 0.60%
 PDD Holdings Inc. (ADR) PDD 0.60%
 Rheinmetall AG (ADR) RNMBY 0.60%
 AT&T Inc. T 0.59%
 Abbott Laboratories ABT 0.59%
 Waste Management, Inc. WM 0.59%
 McKesson Corporation MCK 0.59%
 Ameren Corporation AEE 0.59%
 Cencora Inc. COR 0.59%
 Republic Services, Inc. RSG 0.59%
 The Kroger Co. KR 0.58%
 Duke Energy Corporation DUK 0.58%
 Paychex, Inc. PAYX 0.58%
 DBS Group Holdings Ltd. (ADR) DBSDY 0.58%
 Nintendo Co., Ltd. (ADR) NTDOY 0.58%
 Ross Stores, Inc. ROST 0.57%
 Banco Bilbao Vizcaya Argentaria, S.A. (ADR) BBVA 0.57%
 The Kraft Heinz Company KHC 0.57%
 Costco Wholesale Corporation COST 0.56%
 Comcast Corporation (Class A) CMCSA 0.56%
 The TJX Companies, Inc. TJX 0.56%
 Exelon Corporation EXC 0.56%
 Shell Plc (ADR) SHEL 0.56%
 The Procter & Gamble Company PG 0.55%
 Aflac Incorporated AFL 0.55%
 Equinor ASA EQNR 0.55%
 Consolidated Edison, Inc. ED 0.54%
 Berkshire Hathaway Inc. (Class B) BRK/B 0.54%
 Tokio Marine Holdings, Inc. (ADR) TKOMY 0.54%
 Itochu Corp. (ADR) ITOCY 0.54%
 BAE Systems Plc (ADR) BAESY 0.53%
 Novartis AG (ADR) NVS 0.52%
 Rio Tinto Plc (ADR) RIO 0.52%
 Vinci S.A. (ADR) VCISY 0.52%
 Toyota Motor Corporation TM 0.51%
 TotalEnergies SE (ADR) TTE 0.51%
 Marsh & McLennan Companies, Inc. MMC 0.51%
 Linde Plc LIN 0.51%
 The Progressive Corporation PGR 0.50%
 L'Oreal S.A. (ADR) LRLCY 0.50%
 Anheuser-Busch InBev S.A./N.V. (ADR) BUD 0.50%
 Chugai Pharmaceutical Co., Ltd. (ADR) CHGCY 0.50%
 Iberdrola S.A. (ADR) IBDRY 0.49%
 Air Liquide S.A. (ADR) AIQUY 0.49%
 Muenchener Rueckversicherungs-Gesellschaft AG (MunichRe) (ADR) MURGY 0.49%
 NTT, Inc. (ADR) NTTYY 0.47%
 Sanofi (ADR) SNY 0.46%
 KDDI Corporation (ADR) KDDIY 0.45%
 Industria de Diseno Textil, S.A. (ADR) IDEXY 0.45%
 Fast Retailing Co., Ltd. (ADR) FRCOY 0.44%
 Chubb Limited CB 0.43%
 Carpenter Technology Corporation CRS 0.38%
 EMCOR Group, Inc. EME 0.38%
 Elevance Health Inc. ELV 0.38%
 Oshkosh Corporation OSK 0.34%
 Ulta Beauty, Inc. ULTA 0.34%
 Chord Energy Corporation CHRD 0.31%
 Valmont Industries, Inc. VMI 0.30%
 Gentex Corporation GNTX 0.30%
 Toll Brothers, Inc. TOL 0.30%
 Kyndryl Holdings, Inc. KD 0.30%
 PulteGroup, Inc. PHM 0.29%
 Kirby Corporation KEX 0.29%
 NewMarket Corporation NEU 0.29%
 Commvault Systems, Inc. CVLT 0.29%
 Archer-Daniels-Midland Company ADM 0.28%
 Casey's General Stores, Inc. CASY 0.28%
 Devon Energy Corporation DVN 0.28%
 SEI Investments Company SEIC 0.28%
 Globe Life Inc. GL 0.27%
 F5 Inc. FFIV 0.27%
 Mohawk Industries, Inc. MHK 0.27%
 Cincinnati Financial Corporation CINF 0.26%
 AptarGroup, Inc. ATR 0.26%
 NOV Inc. NOV 0.26%
 Cal-Maine Foods, Inc. CALM 0.26%
 Texas Roadhouse, Inc. TXRH 0.26%
 Fox Corporation (Class A) FOXA 0.26%
 Encompass Health Corporation EHC 0.25%
 MGIC Investment Corporation MTG 0.25%
 The New York Times Company (Class A) NYT 0.25%
 Unum Group UNM 0.25%
 Meritage Homes Corporation MTH 0.25%
 InterDigital, Inc. IDCC 0.25%
 Reliance Inc. RS 0.25%
 United Therapeutics Corporation UTHR 0.25%
 Taylor Morrison Home Corporation TMHC 0.25%
 Paycom Software, Inc. PAYC 0.25%
 DocuSign, Inc. DOCU 0.25%
 Chewy, Inc. (Class A) CHWY 0.25%
 Atmos Energy Corporation ATO 0.24%
 Expeditors International of Washington, Inc. EXPD 0.24%
 Loews Corporation L 0.24%
 Ingredion Incorporated INGR 0.24%
 FTI Consulting, Inc. FCN 0.24%
 Exelixis, Inc. EXEL 0.24%
 The Marzetti Company MZTI 0.23%
 Snap-on Incorporated SNA 0.23%
 Centene Corporation CNC 0.23%
 Portland General Electric Company POR 0.23%
 Grand Canyon Education, Inc. LOPE 0.23%
 Corcept Therapeutics Inc. CORT 0.23%
 Allison Transmission Holdings, Inc. ALSN 0.23%
 Sprouts Farmers Market, Inc. SFM 0.23%
 Enact Holdings, Inc. ACT 0.23%
 Coterra Energy Inc. CTRA 0.22%
 IES Holdings, Inc. IESC 0.22%
 Stride, Inc. LRN 0.22%
 Zimmer Biomet Holdings, Inc. ZBH 0.21%
 Pilgrim's Pride Corporation PPC 0.21%
 BJ's Wholesale Club Holdings, Inc. BJ 0.21%
 Sanmina Corporation SANM 0.19%
 Molson Coors Beverage Company TAP 0.19%
 Urban Outfitters, Inc. URBN 0.18%
 ACADIA Pharmaceuticals Inc. ACAD 0.18%
 CorVel Corporation CRVL 0.17%
 Agios Pharmaceuticals, Inc. AGIO 0.17%
 Federal Signal Corporation FSS 0.16%
 Peabody Energy Corporation BTU 0.16%
 Murphy Oil Corporation MUR 0.15%
 Abercrombie & Fitch Co. (Class A) ANF 0.15%
 ESCO Technologies Inc. ESE 0.15%
 StoneX Group Inc. SNEX 0.15%
 Bank OZK OZK 0.15%
 Avnet, Inc. AVT 0.14%
 Gibraltar Industries, Inc. ROCK 0.14%
 International Bancshares Corporation IBOC 0.14%
 McGrath RentCorp MGRC 0.14%
 United States Lime & Minerals, Inc. USLM 0.14%
 Lear Corporation LEA 0.14%
 Green Brick Partners, Inc. GRBK 0.14%
 Laureate Education, Inc. (Class A) LAUR 0.14%
 Warrior Met Coal, Inc. HCC 0.14%
 Liberty Energy Inc. (Class A) LBRT 0.14%
 Concentrix Corporation CNXC 0.14%
 1st Source Corporation SRCE 0.13%
 KB Home KBH 0.13%
 M/I Homes, Inc. MHO 0.13%
 S&T Bancorp, Inc. STBA 0.13%
 Adtalem Global Education Inc. ATGE 0.13%
 PriceSmart, Inc. PSMT 0.13%
 OSI Systems, Inc. OSIS 0.13%
 NMI Holdings, Inc. (Class A) NMIH 0.13%
 Alpha Metallurgical Resources, Inc. AMR 0.13%
 Clear Secure, Inc. (Class A) YOU 0.13%
 Otter Tail Corporation OTTR 0.12%
 TEGNA Inc. TGNA 0.12%
 Harley-Davidson, Inc. HOG 0.12%
 Brady Corporation BRC 0.12%
 Radian Group Inc. RDN 0.12%
 National HealthCare Corporation NHC 0.12%
 Rush Enterprises, Inc. (Class A) RUSHA 0.12%
 National Beverage Corp. FIZZ 0.12%
 Dorman Products, Inc. DORM 0.12%
 Tri Pointe Homes, Inc. TPH 0.12%
 DNOW Inc. DNOW 0.12%
 Black Hills Corporation BKH 0.11%
 Graham Holdings Company GHC 0.11%
 Rayonier Inc. RYN 0.11%
 Helmerich & Payne, Inc. HP 0.11%
 NorthWestern Energy Group, Inc. NWE 0.11%
 Molina Healthcare, Inc. MOH 0.11%
 The Andersons, Inc. ANDE 0.11%
 Avista Corporation AVA 0.11%
 Catalyst Pharmaceuticals, Inc. CPRX 0.11%
 ADMA Biologics, Inc. ADMA 0.11%
 Flowers Foods, Inc. FLO 0.10%
 Weis Markets, Inc. WMK 0.10%
 J & J Snack Foods Corp. JJSF 0.10%
 The Western Union Company WU 0.10%
 Palomar Holdings, Inc. PLMR 0.10%
 Remitly Global, Inc. RELY 0.10%
 Intapp, Inc. INTA 0.09%
 
Total Number of Holdings:    235
Underlying Securities information represented above is as of 07/29/2025 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.04500 July 18, 2025
$0.04500 August 20, 2025
$0.04500 September 19, 2025

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.

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.

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 should be viewed as speculative and you should review your ability to assume the risks associated with investments that utilize such bonds. 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 bonds 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.

Market Disruption Risk. Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East, have caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, the Middle East and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.

Public Health Crisis Risk. A public health crisis, and the ensuing policies enacted by governments and central banks in response, could cause significant volatility and uncertainty in global financial markets, negatively impacting global growth prospects.

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, ©2025 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.

Fund Cusip Information
30340Q306 (Cash)
30340Q314 (Reinvest)
30340Q322 (Cash-Fee)
30340Q330 (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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