SMid Capital Strength Opportunity, 38  Ticker: FIOEBX
 
Description
A unit investment trust that seeks above-average capital appreciation by investing in a portfolio of small- and mid-capitalization companies which have strong balance sheets.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: SMCO38
Portfolio Status: Primary
Initial Offer Date: 05/22/2026
Portfolio Ending Date: 08/23/2027
Tax Structure: Regulated Investment Company
Distributions: Semi-Annual
 
Initial Offer Price: $10.0000
NAV(*): $10.2402
POP(*): $10.3823
Remaining Deferred Sales Charge: $0.1350
Remaining Fees & Expenses
C&D Fee:** $0.0500
Estimated Organization Costs:** $0.0210
* As of Trade Date: 06/18/2026 4:00pm ET
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 6/18/2026) Per Unit (as of 6/18/2026)
0.19% $0.01930
^ 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 Click here to Perform a Benchmark Comparison  
 Sector Weighting
Communication Services  Communication Services 0.00%
Consumer Discretionary  Consumer Discretionary 15.03%
Consumer Staples  Consumer Staples 2.62%
Energy  Energy 4.29%
Financials  Financials 9.74%
Health Care  Health Care 25.37%
Industrials  Industrials 32.11%
Information Technology  Information Technology 8.82%
Materials  Materials 2.02%
Real Estate  Real Estate 0.00%
Utilities  Utilities 0.00%
Other  Other 0.00%
 
  Large Mid Small  
Growth  0.00% 73.12% 19.31%  
Value  0.00% 7.57% 0.00%  

 Style Weighting
Large-Cap Growth 0.00%
Large-Cap Value 0.00%
Mid-Cap Growth 73.12%
Mid-Cap Value 7.57%
Small-Cap Growth 19.31%
Small-Cap Value 0.00%
Undetermined 0.00%
 Composition
U.S. Stocks 90.61%   Other 0.00%
Non-U.S. Stocks 9.39%      
The style and sector characteristics of the portfolio are determined as of 06/18/2026 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $12,614
Price/Earnings 19.47
Price/Book 4.58
As of 6/18/2026
All market capitalization numbers are in USD$ Millions. All figures are subject to change.

 Holdings  Export Current Holdings  
NameSymbolSectorStyleWeighting
 TG Therapeutics, Inc. TGTX Health Care  Health Care Mid-Cap Growth 3.21%
 Carpenter Technology Corporation CRS Industrials  Industrials Mid-Cap Growth 3.11%
 SharkNinja Inc. SN Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 2.98%
 ATI Inc. ATI Industrials  Industrials Mid-Cap Growth 2.93%
 Ligand Pharmaceuticals Inc. (Class B) LGND Health Care  Health Care Small-Cap Growth 2.91%
 Woodward, Inc. WWD Industrials  Industrials Mid-Cap Growth 2.85%
 Sterling Infrastructure, Inc. STRL Industrials  Industrials Mid-Cap Growth 2.85%
 Toll Brothers, Inc. TOL Consumer Discretionary  Consumer Discretionary Mid-Cap Value 2.78%
 Krystal Biotech, Inc. KRYS Health Care  Health Care Mid-Cap Growth 2.76%
 Acuity Inc. AYI Industrials  Industrials Mid-Cap Growth 2.73%
 Dycom Industries, Inc. DY Industrials  Industrials Mid-Cap Growth 2.72%
 Abercrombie & Fitch Co. (Class A) ANF Consumer Discretionary  Consumer Discretionary Small-Cap Growth 2.71%
 Applied Industrial Technologies, Inc. AIT Industrials  Industrials Mid-Cap Growth 2.68%
 Maplebear Inc. (Instacart) CART Consumer Staples  Consumer Staples Mid-Cap Growth 2.62%
 Harmony Biosciences Holdings, Inc. HRMY Health Care  Health Care Small-Cap Growth 2.58%
 InterDigital, Inc. IDCC Information Technology  Information Technology Mid-Cap Growth 2.55%
 Simpson Manufacturing Co., Inc. SSD Industrials  Industrials Mid-Cap Growth 2.52%
 Everus Construction Group, Inc. ECG Industrials  Industrials Mid-Cap Growth 2.51%
 Nextpower Inc. (Class A) NXT Industrials  Industrials Mid-Cap Growth 2.50%
 HCI Group, Inc. HCI Financials  Financials Small-Cap Growth 2.49%
 Exelixis, Inc. EXEL Health Care  Health Care Mid-Cap Growth 2.47%
 Evercore Inc. EVR Financials  Financials Mid-Cap Growth 2.46%
 Mueller Industries, Inc. MLI Industrials  Industrials Mid-Cap Growth 2.45%
 East West Bancorp, Inc. EWBC Financials  Financials Mid-Cap Value 2.43%
 Neurocrine Biosciences, Inc. NBIX Health Care  Health Care Mid-Cap Growth 2.41%
 ACADIA Pharmaceuticals Inc. ACAD Health Care  Health Care Small-Cap Growth 2.40%
 The Hanover Insurance Group, Inc. THG Financials  Financials Mid-Cap Value 2.36%
 Halozyme Therapeutics, Inc. HALO Health Care  Health Care Mid-Cap Growth 2.36%
 Autoliv, Inc. ALV Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 2.35%
 Cirrus Logic, Inc. CRUS Information Technology  Information Technology Mid-Cap Growth 2.30%
 EnerSys ENS Industrials  Industrials Mid-Cap Growth 2.26%
 TechnipFMC Plc FTI Energy  Energy Mid-Cap Growth 2.16%
 Chewy, Inc. (Class A) CHWY Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 2.16%
 The Ensign Group, Inc. ENSG Health Care  Health Care Mid-Cap Growth 2.14%
 United Therapeutics Corporation UTHR Health Care  Health Care Mid-Cap Growth 2.13%
 Magnolia Oil & Gas Corporation (Class A) MGY Energy  Energy Small-Cap Growth 2.13%
 Pegasystems Inc. PEGA Information Technology  Information Technology Small-Cap Growth 2.07%
 Five Below, Inc. FIVE Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 2.05%
 Century Aluminum Company CENX Materials  Materials Small-Cap Growth 2.02%
 Fabrinet FN Information Technology  Information Technology Mid-Cap Growth 1.90%
 
Total Number of Holdings:    40
Underlying Securities information represented above is as of 06/18/2026 but will vary with future fluctuations in the market.

 Standard Account Sales Charges *
Transactional sales charges: Initial:  0.07%
  Deferred:  1.30%
C&D Fee:    0.48%
Maximum Sales Charge:   1.85%
CUSIP Type Distribution
30344U626 Cash Semi-Annual
30344U634 Reinvest Semi-Annual
* Based on the offer price as of 06/18/2026 4:00pm ET

 Fee/Wrap Account Sales Charges *
C&D Fee:    0.49%
Maximum Sales Charge:   0.49%
CUSIP Type Distribution
30344U642 Cash-Fee Semi-Annual
30344U659 Reinvest-Fee Semi-Annual
* Based on the NAV price as of 06/18/2026 4:00pm ET

 Estimated Fees & Expenses *
Estimated Organization Costs 0.210%
Estimated Annual Trust Operating Expenses 0.215%
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
$0.04500 September 18, 2026
$0.04500 October 20, 2026
$0.04500 November 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.

Industrials Risk. The companies engaged in the industrials sector are subject to certain risks, including a deterioration in the general state of the economy, intense competition, domestic and international politics, excess capacity and changing spending trends.

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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