Target VIP, 4th Qtr 2026  Ticker: FPGUXX
 
Description
A unit investment trust that seeks above-average total return; however, there is no assurance the objective will be met. The portfolio provides you with the convenience of owning six distinct strategies in one investment. It invests in a fixed portfolio of stocks which are selected by applying pre-determined screens and factors.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: VP4Q26
Portfolio Status: Primary
Initial Offer Date: 10/12/2026
Portfolio Ending Date: 01/07/2028
Tax Structure: Regulated Investment Company
Distributions: Semi-Annual
 
Initial Offer Price: $10.0000
NAV(*): $9.0448
POP(*): $9.1644
Remaining Deferred Sales Charge: $0.1350
Remaining Fees & Expenses
C&D Fee:** $0.0500
Estimated Organization Costs:** $0.0420
* As of Trade Date: 11/06/2026 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 11/6/2026) Per Unit (as of 11/6/2026)
1.21% $0.11120
^ 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 7.03%
Consumer Discretionary  Consumer Discretionary 11.02%
Consumer Staples  Consumer Staples 2.31%
Energy  Energy 3.67%
Financials  Financials 27.51%
Health Care  Health Care 8.91%
Industrials  Industrials 5.74%
Information Technology  Information Technology 31.62%
Materials  Materials 1.17%
Real Estate  Real Estate 0.00%
Utilities  Utilities 1.00%
Other  Other 0.02%
 
  Large Mid Small  
Growth  37.43% 2.75% 13.29%  
Value  40.41% 0.82% 5.28%  

 Style Weighting
Large-Cap Growth 37.43%
Large-Cap Value 40.41%
Mid-Cap Growth 2.75%
Mid-Cap Value 0.82%
Small-Cap Growth 13.29%
Small-Cap Value 5.28%
Undetermined 0.02%
 Composition
U.S. Stocks 80.80%   Other 0.02%
Non-U.S. Stocks 19.18%      
The style and sector characteristics of the portfolio are determined as of 11/06/2026 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $918,916
Price/Earnings 14.63
Price/Book 2.54
As of 11/6/2026
All market capitalization numbers are in USD$ Millions. All figures are subject to change.

 Holdings  Export Current Holdings  
NameSymbolSectorStyleWeighting
 Apple Inc. AAPL Information Technology  Information Technology Large-Cap Growth 9.09%
 The Travelers Companies, Inc. TRV Financials  Financials Large-Cap Value 5.45%
 Alphabet Inc. (Class A) GOOGL Communication Services  Communication Services Large-Cap Growth 4.85%
 NIKE, Inc. (Class B) NKE Consumer Discretionary  Consumer Discretionary Large-Cap Value 4.03%
 Micron Technology, Inc. MU Information Technology  Information Technology Large-Cap Growth 4.01%
 American Express Company AXP Financials  Financials Large-Cap Growth 3.77%
 NVIDIA Corporation NVDA Information Technology  Information Technology Large-Cap Growth 3.66%
 The Goldman Sachs Group, Inc. GS Financials  Financials Large-Cap Value 3.55%
 Salesforce, Inc. CRM Information Technology  Information Technology Large-Cap Value 3.40%
 Advanced Micro Devices, Inc. AMD Information Technology  Information Technology Large-Cap Growth 2.92%
 Fortinet, Inc. FTNT Information Technology  Information Technology Large-Cap Growth 1.69%
 Applied Materials, Inc. AMAT Information Technology  Information Technology Large-Cap Growth 1.35%
 Lam Research Corporation LRCX Information Technology  Information Technology Large-Cap Growth 1.29%
 McKesson Corporation MCK Health Care  Health Care Large-Cap Value 1.15%
 Sanofi SAN.FP Health Care  Health Care Large-Cap Value 1.06%
 British American Tobacco p.l.c. BATS.LN Consumer Staples  Consumer Staples Large-Cap Value 1.00%
 Enel SpA ENEL.IM Utilities  Utilities Large-Cap Value 1.00%
 Zurich Insurance Group AG ZURN.SW Financials  Financials Large-Cap Value 1.00%
 Booking Holdings Inc. BKNG Consumer Discretionary  Consumer Discretionary Large-Cap Value 0.97%
 AXA S.A. CS.FP Financials  Financials Large-Cap Value 0.97%
 DNB Bank ASA DNB.NO Financials  Financials Large-Cap Value 0.97%
 Mercedes-Benz Group AG MBG.GY Consumer Discretionary  Consumer Discretionary Large-Cap Value 0.96%
 Orange ORA.FP Communication Services  Communication Services Large-Cap Value 0.96%
 Volkswagen AG VOW.GY Consumer Discretionary  Consumer Discretionary Large-Cap Value 0.94%
 Vinci S.A. DG.FP Industrials  Industrials Large-Cap Value 0.94%
 TotalEnergies SE TTE.FP Energy  Energy Large-Cap Value 0.93%
 BNP Paribas S.A. BNP.FP Financials  Financials Large-Cap Value 0.93%
 Poste Italiane SpA PST.IM Financials  Financials Large-Cap Value 0.93%
 Intesa Sanpaolo SpA ISP.IM Financials  Financials Large-Cap Value 0.92%
 Swedbank AB (Class A) SWEDA.SS Financials  Financials Large-Cap Value 0.92%
 Danske Bank A/S DANSKE.DC Financials  Financials Large-Cap Value 0.91%
 Credit Agricole S.A. ACA.FP Financials  Financials Large-Cap Value 0.88%
 Skandinaviska Enskilda Banken AB (Class A) SEBA.SS Financials  Financials Large-Cap Value 0.88%
 Vericel Corporation VCEL Health Care  Health Care Small-Cap Growth 0.87%
 GE Vernova Inc. GEV Industrials  Industrials Large-Cap Growth 0.87%
 Natwest Group Plc NWG.LN Financials  Financials Large-Cap Value 0.84%
 Rio Tinto Plc RIO.LN Materials  Materials Large-Cap Value 0.82%
 Dell Technologies Inc. (Class C) DELL Information Technology  Information Technology Large-Cap Value 0.80%
 The Coca-Cola Company KO Consumer Staples  Consumer Staples Large-Cap Growth 0.74%
 Addus HomeCare Corporation ADUS Health Care  Health Care Small-Cap Growth 0.69%
 First Commonwealth Financial Corporation FCF Financials  Financials Small-Cap Value 0.64%
 Enerpac Tool Group Corp. EPAC Industrials  Industrials Small-Cap Growth 0.61%
 Teradyne, Inc. TER Information Technology  Information Technology Large-Cap Growth 0.60%
 Ross Stores, Inc. ROST Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.60%
 Corpay, Inc. CPAY Financials  Financials Mid-Cap Growth 0.60%
 Inspire Medical Systems, Inc. INSP Health Care  Health Care Small-Cap Growth 0.57%
 LeMaitre Vascular, Inc. LMAT Health Care  Health Care Small-Cap Growth 0.56%
 A10 Networks, Inc. ATEN Information Technology  Information Technology Small-Cap Growth 0.56%
 Happen Inc. HAPN Financials  Financials Small-Cap Value 0.56%
 Blue Bird Corporation BLBD Industrials  Industrials Small-Cap Growth 0.56%
 Astrana Health Inc. ASTH Health Care  Health Care Small-Cap Growth 0.56%
 Interface, Inc. TILE Industrials  Industrials Small-Cap Growth 0.54%
 Omnicell, Inc. OMCL Health Care  Health Care Small-Cap Value 0.53%
 EZCORP, Inc. EZPW Financials  Financials Small-Cap Value 0.52%
 Shoals Technologies Group, Inc. (Class A) SHLS Industrials  Industrials Small-Cap Growth 0.52%
 Healthcare Services Group, Inc. HCSG Industrials  Industrials Small-Cap Growth 0.51%
 Meta Platforms, Inc. (Class A) META Communication Services  Communication Services Large-Cap Growth 0.51%
 National Bank Holdings Corporation (Class A) NBHC Financials  Financials Small-Cap Value 0.50%
 Perdoceo Education Corporation PRDO Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.49%
 Pathward Financial, Inc. CASH Financials  Financials Small-Cap Growth 0.48%
 Century Communities, Inc. CCS Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.48%
 CONMED Corporation CNMD Health Care  Health Care Small-Cap Value 0.46%
 Illumina, Inc. ILMN Health Care  Health Care Mid-Cap Growth 0.46%
 ExxonMobil Holdings Corp. XOM Energy  Energy Large-Cap Value 0.46%
 U.S. Physical Therapy, Inc. USPH Health Care  Health Care Small-Cap Growth 0.45%
 Marathon Petroleum Corporation MPC Energy  Energy Large-Cap Value 0.45%
 PROG Holdings Inc. PRG Financials  Financials Small-Cap Growth 0.45%
 Triumph Financial, Inc. TFIN Financials  Financials Small-Cap Growth 0.44%
 Valero Energy Corporation VLO Energy  Energy Large-Cap Value 0.43%
 Innoviva, Inc. INVA Health Care  Health Care Small-Cap Value 0.43%
 AnaptysBio, Inc. ANAB Health Care  Health Care Small-Cap Growth 0.42%
 Sweetgreen, Inc. (Class A) SG Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.42%
 Uniti Group Inc. UNIT Communication Services  Communication Services Small-Cap Growth 0.41%
 Revolve Group, Inc. RVLV Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.40%
 CRA International, Inc. CRAI Industrials  Industrials Small-Cap Growth 0.37%
 Phillips 66 PSX Energy  Energy Large-Cap Value 0.36%
 PagerDuty, Inc. PD Information Technology  Information Technology Small-Cap Growth 0.36%
 Ecovyst Inc. ECVT Materials  Materials Small-Cap Growth 0.35%
 Strategic Education, Inc. STRA Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.34%
 Gold.com Inc. GOLD Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.33%
 Mettler-Toledo International Inc. MTD Health Care  Health Care Large-Cap Growth 0.31%
 Seneca Foods Corporation SENEA Consumer Staples  Consumer Staples Small-Cap Value 0.30%
 Graham Corporation GHM Industrials  Industrials Small-Cap Growth 0.29%
 EverQuote, Inc. (Class A) EVER Communication Services  Communication Services Small-Cap Growth 0.29%
 TETRA Technologies, Inc. TTI Energy  Energy Small-Cap Growth 0.27%
 W.W. Grainger, Inc. GWW Industrials  Industrials Large-Cap Growth 0.26%
 Williams-Sonoma, Inc. WSM Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.25%
 Crocs, Inc. CROX Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.24%
 Altria Group, Inc. MO Consumer Staples  Consumer Staples Large-Cap Value 0.23%
 Hewlett Packard Enterprise Company HPE Information Technology  Information Technology Large-Cap Value 0.23%
 KLA Corporation KLAC Information Technology  Information Technology Large-Cap Growth 0.22%
 Rigel Pharmaceuticals, Inc. RIGL Health Care  Health Care Small-Cap Growth 0.22%
 FactSet Research Systems Inc. FDS Financials  Financials Mid-Cap Growth 0.21%
 Brinker International, Inc. EAT Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.20%
 Abercrombie & Fitch Co. (Class A) ANF Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.20%
 Hingham Institution for Savings HIFS Financials  Financials Small-Cap Value 0.19%
 Qualys, Inc. QLYS Information Technology  Information Technology Mid-Cap Growth 0.18%
 APA Corporation APA Energy  Energy Mid-Cap Value 0.18%
 Matson, Inc. MATX Industrials  Industrials Mid-Cap Value 0.17%
 Lincoln Educational Services Corporation LINC Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.17%
 DexCom, Inc. DXCM Health Care  Health Care Mid-Cap Growth 0.17%
 RingCentral, Inc. (Class A) RNG Information Technology  Information Technology Mid-Cap Value 0.17%
 Corsair Gaming, Inc. CRSR Information Technology  Information Technology Small-Cap Growth 0.16%
 International Seaways, Inc. INSW Energy  Energy Small-Cap Growth 0.15%
 Delek US Holdings, Inc. DK Energy  Energy Small-Cap Growth 0.15%
 Marvell Technology, Inc. MRVL Information Technology  Information Technology Large-Cap Growth 0.15%
 HF Sinclair Corp. DINO Energy  Energy Mid-Cap Value 0.15%
 Sandisk Corporation SNDK Information Technology  Information Technology Large-Cap Growth 0.15%
 United Microelectronics Corporation (ADR) UMC Information Technology  Information Technology Large-Cap Value 0.14%
 NetApp, Inc. NTAP Information Technology  Information Technology Large-Cap Growth 0.14%
 PBF Energy Inc. PBF Energy  Energy Mid-Cap Value 0.14%
 Seagate Technology Holdings Plc STX Information Technology  Information Technology Large-Cap Growth 0.13%
 Western Digital Corporation WDC Information Technology  Information Technology Large-Cap Growth 0.12%
 Expeditors International of Washington, Inc. EXPD Industrials  Industrials Mid-Cap Growth 0.10%
 Astera Labs, Inc. ALAB Information Technology  Information Technology Mid-Cap Growth 0.10%
 Dollar Tree, Inc. DLTR Consumer Staples  Consumer Staples Mid-Cap Growth 0.04%
 Fox Corporation (Class A) FOXA Communication Services  Communication Services Mid-Cap Value 0.01%
 
Total Number of Holdings:    117
Underlying Securities information represented above is as of 11/06/2026 but will vary with future fluctuations in the market.

 Standard Account Sales Charges *
Transactional sales charges: Initial:  -0.17%
  Deferred:  1.47%
C&D Fee:    0.55%
Maximum Sales Charge:   1.85%
CUSIP Type Distribution
30346M465 Cash Semi-Annual
30346M473 Reinvest Semi-Annual
* Based on the offer price as of 11/06/2026 4:00pm ET

 Fee/Wrap Account Sales Charges *
C&D Fee:    0.55%
Maximum Sales Charge:   0.55%
CUSIP Type Distribution
30346M481 Cash-Fee Semi-Annual
30346M499 Reinvest-Fee Semi-Annual
* Based on the NAV price as of 11/06/2026 4:00pm ET

 Estimated Fees & Expenses *
Estimated Organization Costs 0.420%
Estimated Annual Trust Operating Expenses 0.271%
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 January 20, 2027
$0.04500 February 19, 2027
$0.04500 March 19, 2027

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.

Information Technology Risk. The companies engaged in the information technology sector are subject to fierce competition, high research and development costs, and their products and services may be subject to rapid obsolescence. Technology company stocks, especially those which are Internet-related, may experience extreme price and volume fluctuations that are often unrelated to their operating performance.

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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