Innovative Health Care, 28

Description

A unit investment trust that seeks above-average capital appreciation. The portfolio provides access to health care companies that are involved in the areas that we believe are driving innovation.

Please note that there is no assurance the objective will be met.

Summary

Product Code:

INHC28

Portfolio Status:

Primary

Initial Offer Date:

03/16/2026

Portfolio Ending Date:

03/16/2028

Tax Structure:

Regulated Investment Company

Distributions:

Semi-Annual

Initial Offer Price:	$10.0000
NAV(*):	$9.5179
POP(*):	$9.7356
Remaining Deferred Sales Charge:	$0.2250
Remaining Fees & Expenses
C&D Fee:**	$0.0500
Estimated Organization Costs:**	$0.0590

* As of Trade Date: 05/06/2026 4:00pm ET


Fact Sheet	Prospectus

The Public Offering Price (POP) represents the net asset value per unit plus any 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.

** The C&D fee is a charge of $0.050 per unit collected at the end of the initial offering period. If the price you pay exceeds $10.00 per unit, the C&D fee will be less than 0.50%; if the price you pay is less than $10.00 per unit, the C&D fee will exceed 0.50%.Estimated organization costs will be deducted from the assets of the trust at the earlier of six months after the initial date of deposit or the end of the initial offering period.Estimated organization costs are assessed on a fixed dollar amount per unit basis which, as a percentage of average net assets, will vary over time.Actual expenses may be more or less than the estimates.Please see "Fee Table" in the trust prospectus for additional information.

If units are redeemed prior to the time when these fees are collected, these fees will not be deducted from the redemption proceeds.

Historical 12-Month Distribution of Trust Holdings:^

Rate (as of 5/6/2026)	Per Unit (as of 5/4/2026)
0.55%	$0.05380

^ 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 Analysis

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Sector	Weighting
Communication Services	0.00%
Consumer Discretionary	0.00%
Consumer Staples	0.00%
Energy	0.00%
Financials	0.00%
Health Care	100.00%
Industrials	0.00%
Information Technology	0.00%
Materials	0.00%
Real Estate	0.00%
Utilities	0.00%
Other	0.00%

	Large	Mid	Small
Growth	29.06%	31.14%	6.01%
Value	18.50%	12.71%	2.58%

Style	Weighting
Large-Cap Growth	29.06%
Large-Cap Value	18.50%
Mid-Cap Growth	31.14%
Mid-Cap Value	12.71%
Small-Cap Growth	6.01%
Small-Cap Value	2.58%
Undetermined	0.00%

Composition
U.S. Stocks	87.52%	Other	0.00%
Non-U.S. Stocks	12.48%

The style and sector characteristics of the portfolio are determined as of 05/06/2026 and will likely vary thereafter due to market fluctuations in the underlying securities.

Key Stats

Weighted Average Market Cap	$106,086
Price/Earnings	24.77
Price/Book	4.33

As of 5/6/2026

All market capitalization numbers are in USD$ Millions. All figures are subject to change.

Holdings

Export Current Holdings | View Initial Holdings

Name	Symbol	Sector	Style	Weighting
Illumina, Inc.	ILMN	Health Care	Mid-Cap Growth	3.06%
Zymeworks Inc.	ZYME	Health Care	Small-Cap Growth	3.05%
Exelixis, Inc.	EXEL	Health Care	Mid-Cap Growth	2.97%
Ligand Pharmaceuticals Inc. (Class B)	LGND	Health Care	Small-Cap Growth	2.96%
Neurocrine Biosciences, Inc.	NBIX	Health Care	Mid-Cap Growth	2.86%
United Therapeutics Corporation	UTHR	Health Care	Mid-Cap Growth	2.80%
Incyte Corporation	INCY	Health Care	Mid-Cap Growth	2.74%
IQVIA Holdings Inc.	IQV	Health Care	Mid-Cap Growth	2.72%
BeOne Medicines Ltd. (ADR)	ONC	Health Care	Large-Cap Growth	2.72%
Align Technology, Inc.	ALGN	Health Care	Mid-Cap Value	2.68%
HealthEquity, Inc.	HQY	Health Care	Mid-Cap Growth	2.68%
Eli Lilly and Company	LLY	Health Care	Large-Cap Growth	2.65%
Globus Medical, Inc. (Class A)	GMED	Health Care	Mid-Cap Value	2.63%
Halozyme Therapeutics, Inc.	HALO	Health Care	Mid-Cap Growth	2.62%
PTC Therapeutics, Inc.	PTCT	Health Care	Small-Cap Value	2.58%
Steris Plc	STE	Health Care	Mid-Cap Value	2.58%
Edwards Lifesciences Corporation	EW	Health Care	Large-Cap Value	2.56%
Thermo Fisher Scientific Inc.	TMO	Health Care	Large-Cap Value	2.54%
Merck & Co., Inc.	MRK	Health Care	Large-Cap Growth	2.51%
Koninklijke Philips N.V. (New York Registry Shares)	PHG	Health Care	Mid-Cap Value	2.48%
AstraZeneca Plc	AZN	Health Care	Large-Cap Growth	2.47%
Alnylam Pharmaceuticals, Inc.	ALNY	Health Care	Large-Cap Growth	2.43%
Bristol-Myers Squibb Company	BMY	Health Care	Large-Cap Growth	2.42%
Regeneron Pharmaceuticals, Inc.	REGN	Health Care	Large-Cap Value	2.42%
Intuitive Surgical, Inc.	ISRG	Health Care	Large-Cap Growth	2.42%
Johnson & Johnson	JNJ	Health Care	Large-Cap Growth	2.40%
DexCom, Inc.	DXCM	Health Care	Mid-Cap Growth	2.38%
Gilead Sciences, Inc.	GILD	Health Care	Large-Cap Growth	2.37%
Veeva Systems Inc. (Class A)	VEEV	Health Care	Mid-Cap Growth	2.35%
Danaher Corporation	DHR	Health Care	Large-Cap Value	2.34%
BioMarin Pharmaceutical Inc.	BMRN	Health Care	Mid-Cap Value	2.34%
AbbVie Inc.	ABBV	Health Care	Large-Cap Value	2.33%
Vertex Pharmaceuticals Incorporated	VRTX	Health Care	Large-Cap Growth	2.29%
ResMed Inc.	RMD	Health Care	Mid-Cap Growth	2.24%
Medtronic Plc	MDT	Health Care	Large-Cap Value	2.23%
Amgen Inc.	AMGN	Health Care	Large-Cap Growth	2.22%
Stryker Corporation	SYK	Health Care	Large-Cap Growth	2.16%
Boston Scientific Corporation	BSX	Health Care	Large-Cap Value	2.06%
Abbott Laboratories	ABT	Health Care	Large-Cap Value	2.02%
Insulet Corporation	PODD	Health Care	Mid-Cap Growth	1.72%

Total Number of Holdings: 40

Underlying Securities information represented above is as of 05/06/2026 but will vary with future fluctuations in the market.

Standard Account Sales Charges *

Transactional sales charges:	Initial:	-0.07%
	Deferred:	2.31%
C&D Fee:		0.51%
Maximum Sales Charge:		2.75%

CUSIP	Type	Distribution
30344G106	Cash	Semi-Annual
30344G114	Reinvest	Semi-Annual

* Based on the offer price as of 05/06/2026 4:00pm ET

Fee/Wrap Account Sales Charges *

C&D Fee:		0.53%
Maximum Sales Charge:		0.53%

CUSIP	Type	Distribution
30344G122	Cash-Fee	Semi-Annual
30344G130	Reinvest-Fee	Semi-Annual

* Based on the NAV price as of 05/06/2026 4:00pm ET

Estimated Fees & Expenses *

Estimated Organization Costs	0.590%
Estimated Annual Trust Operating Expenses	0.218%

As of Initial Offer Date

* The C&D fee is a charge of $0.050 per unit collected at the end of the initial offering period. If the price you pay exceeds $10.00 per unit, the C&D fee will be less than 0.50%; if the price you pay is less than $10.00 per unit, the C&D fee will exceed 0.50%.Estimated organization costs will be deducted from the assets of the trust at the earlier of six months after the initial date of deposit or the end of the initial offering period.Estimated organization costs and trust operating expenses are assessed on a fixed dollar amount per unit basis which, as a percentage of average net assets, will vary over time.Actual expenses may be more or less than the estimates.Please see "Fee Table" in the trust prospectus for additional information.

Deferred Sales Charge Schedule

Amount	Date
$0.07500	June 18, 2026
$0.07500	July 20, 2026
$0.07500	August 20, 2026

Risk Considerations

Unit investment trusts are designed to be held until trust termination. If redeemed early, additional fees, such as remaining deferred sales charges, will be assessed.

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.

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.

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.

Health Care Risk. The companies engaged in the health care sector are subject to fierce competition, high research and development costs, governmental regulations, loss of patent protection, and changing consumer spending trends. In addition, health crises, such as a pandemic outbreak, can severely impact the health care industry in particular.

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

Market Risk. Market risk is the risk that a particular security, or units of a trust in general may fall in value. Securities are subject to market fluctuations caused by such factors as general economic conditions, political events, regulatory or market developments, changes in interest rates, and perceived trends in securities prices. Units of a trust could decline in value or underperform other investments as a result. In addition, local, regional, or global events such as war, acts of terrorism, spread of infectious disease or other public health issues, recessions, natural disasters, or other events could have significant negative impact on a trust.

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.

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.

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