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First Trust EIP Carbon Impact ETF (ECLN)
  • 2019 Estimated Capital Gain Distributions
    Certain First Trust Exchange-Traded Funds are expected to pay a short term and/or long-term capital gain distribution in December. For a list of exchange-traded funds expected to pay a capital gain distribution, please click here. Final determination of the source and tax status of all distributions paid in the current year are to be made after year-end and could differ from the expectations noted above.
Investment Objective/Strategy - The First Trust EIP Carbon Impact ETF (the "Fund") seeks to achieve a competitive risk-adjusted total return balanced between dividends and capital appreciation. Under normal market conditions, the Fund will invest at least 80% of its net assets (including investment borrowings) in the equity securities of companies identified by the Fund's investment sub-advisor, Energy Income Partners, LLC ("EIP" or the "Sub-Advisor"), as having or seeking to have a positive carbon impact.
There can be no assurance that the Fund's investment objectives will be achieved.
Fund Overview
TickerECLN
Fund TypeActive Equity Income and Green/Renewable
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon
Portfolio Manager/Sub-AdvisorEnergy Income Partners, LLC
CUSIP33738D705
ISINUS33738D7057
Intraday NAVECLNIV
Fiscal Year-End10/31
ExchangeNYSE Arca
Inception8/19/2019
Inception Price$20.09
Inception NAV$20.09
Expense Ratio0.95%
Current Fund Data (as of 11/19/2019)
Closing NAV1$20.42
Closing Market Price2$20.43
Bid/Ask Midpoint$20.41
Bid/Ask Discount0.06%
Total Net Assets$2,042,302
Outstanding Shares100,002
Daily Volume1,457
Average 30-Day Daily Volume857
Closing Market Price 52-Week High/Low$21.06 / $19.98
Closing NAV 52-Week High/Low$21.07 / $20.00
Number of Holdings (excluding cash)28
Fund Characteristics (as of 10/31/2019)4
Maximum Market Cap.$116,495
Median Market Cap.$22,556
Minimum Market Cap.$2,825
Top Holdings (as of 11/19/2019)*
Holding Percent
NextEra Energy Partners, LP 7.30%
Eversource Energy 6.13%
CMS Energy Corporation 5.89%
Xcel Energy Inc. 5.82%
NextEra Energy, Inc. 5.22%
Alliant Energy Corporation 4.97%
TC Pipelines, LP 4.68%
Sempra Energy 4.65%
Fortis Inc. 4.32%
WEC Energy Group, Inc. 4.28%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Distribution Information
30-Day SEC Yield (as of 10/31/2019)31.98%
Bid/Ask Midpoint vs. NAV (as of 9/30/2019)
Number of Days Bid/Ask Midpoint Above NAV
Quarter Ended 0-49
Basis Points
50-99
Basis Points
100-199
Basis Points
>=200
Basis Points
9/30/2019 19 0 0 0
Number of Days Bid/Ask Midpoint Below NAV
Quarter Ended 0-49
Basis Points
50-99
Basis Points
100-199
Basis Points
>=200
Basis Points
9/30/2019 10 0 0 0

The price used to calculate market return is determined by using the midpoint between the highest bid and the lowest offer on the stock exchange, on which shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated.

Composition By Industry (as of 11/19/2019)
Electric Power & Transmission 76.87%
Natural Gas Transmission 18.50%
Month End Performance (as of 10/31/2019)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception5
Fund Performance *
Net Asset Value (NAV) N/A N/A N/A N/A N/A N/A 3.04%
After Tax Held N/A N/A N/A N/A N/A N/A 3.04%
After Tax Sold N/A N/A N/A N/A N/A N/A 1.80%
Market Price N/A N/A N/A N/A N/A N/A 3.09%
Index Performance **
S&P 500 Index N/A N/A N/A N/A N/A N/A 4.24%
The Philadelphia Stock Exchange Utility Index N/A N/A N/A N/A N/A N/A 3.48%
Quarter End Performance (as of 9/30/2019)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception5
Fund Performance *
Net Asset Value (NAV) N/A N/A N/A N/A N/A N/A 4.68%
After Tax Held N/A N/A N/A N/A N/A N/A 4.68%
After Tax Sold N/A N/A N/A N/A N/A N/A 2.77%
Market Price N/A N/A N/A N/A N/A N/A 4.68%
Index Performance **
S&P 500 Index N/A N/A N/A N/A N/A N/A 2.03%
The Philadelphia Stock Exchange Utility Index N/A N/A N/A N/A N/A N/A 5.78%

*Performance data quoted represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate and shares when sold or redeemed, may be worth more or less than their original cost.

After Tax Held returns represent return after taxes on distributions. Assumes shares have not been sold. After Tax Sold returns represent the return after taxes on distributions and the sale of fund shares. Returns do not represent the returns you would receive if you traded shares at other times. Market Price returns are based on the midpoint of the bid/ask spread on the stock exchange on which shares of the fund are listed for trading as of the time that the fund’s NAV is calculated. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

**Indexes do not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the performance shown. Indexes are unmanaged and an investor cannot invest directly in an index.

S&P 500 Index - The Index is an unmanaged index of 500 stocks used to measure large-cap U.S. stock market performance.

The Philadelphia Stock Exchange Utility Index - The Index is a market capitalization weighted index composed of geographically diverse public U.S. utility stocks.

Footnotes
1 The NAV represents the fund's net assets (assets less liabilities) divided by the fund's outstanding shares .
2 Fund shares are purchased and sold on an exchange at their market price rather than net asset value (NAV), which may cause the shares to trade at a price greater than NAV (premium) or less than NAV (discount).
3 The 30-day SEC yield is calculated by dividing the net investment income per share earned during the most recent 30-day period by the maximum offering price per share on the last day of the period and includes the effects of fee waivers and expense reimbursements, if applicable.
4 All market capitalization numbers are in USD$ Millions.
5 Inception Date is 8/19/2019

You should consider the fund's investment objectives, risks, and charges and expenses carefully before investing. You can download a prospectus or summary prospectus, or contact First Trust Portfolios L.P. at 1-800-621-1675 to request a prospectus or summary prospectus which contains this and other information about the fund. The prospectus or summary prospectus should be read carefully before investing.

ETF Characteristics

The fund lists and principally trades its shares on the NYSE Arca, Inc.

Investors buying or selling fund shares on the secondary market may incur customary brokerage commissions. Market prices may differ to some degree from the net asset value of the shares. Investors who sell fund shares may receive less than the share's net asset value. Shares may be sold throughout the day on the exchange through any brokerage account. However, unlike mutual funds, shares may only be redeemed directly from the fund by authorized participants, in very large creation/redemption units. If the fund's authorized participants are unable to proceed with creation/redemption orders and no other authorized participant is able to step forward to create or redeem, fund shares may trade at a discount to the fund's net asset value and possibly face delisting.

Risk Considerations

The fund's shares will change in value, and you could lose money by investing in the fund. One of the principal risks of investing in the fund is market risk. Market risk is the risk that a particular stock owned by the fund, fund shares or stocks in general may fall in value. The fund is subject to management risk because it is an actively managed portfolio. In managing the fund's investment portfolio, the sub-advisor will apply investment techniques and risk analyses that may not have the desired result. There can be no assurance that the fund's investment objective will be achieved.

The fund may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.

The companies held by the fund may not ultimately undertake, or be successful in, their efforts to reduce the carbon impact of the production, transportation, conversion or storage of energy.

The fund is concentrated in the industries comprising the energy infrastructure sector, which involves additional risks, including limited diversification. The companies engaged in the energy infrastructure sector, which includes energy companies, MLPs and utilities companies, are subject to certain risks, including price and supply fluctuations caused by international politics, energy conservation, taxes, price controls, and other regulatory policies of various governments. An investment in the fund may be more volatile than an investment that is more broadly diversified.

An investment in a fund containing securities of non-U.S. issuers is 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. The fund may invest in depositary receipts which may be less liquid than the underlying shares in their primary trading market.

The fund is subject to inflation risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money.

An investment in MLP units involves risks which differ from an investment in common stock of a corporation. Holders of MLP units have limited control and voting rights. In addition, there is the risk that a MLP could be taxed as a corporation. Current and future tax and regulatory policies could adversely impact an MLP's business, financial condition, results of operations and cash flows, and ability to pay cash distributions or dividends. Rising interest rates could adversely impact the financial performance of MLPs, MLP related entities and energy companies.

Illiquid securities involve the risk that the securities will not be able to be sold at the time desired by the fund or at prices approximately the value at which the fund is carrying the securities on its books.

Changes in currency exchange rates and the relative value of non-US currencies may affect the value of a fund's investments and the value of a fund's shares.

As the use of Internet technology has become more prevalent in the course of business, the fund has become more susceptible to potential operational risks through breaches in cyber security.

The fund is classified as "non-diversified" and may invest a relatively high percentage of its assets in a limited number of issuers. As a result, the fund may be more susceptible to a single adverse economic or regulatory occurrence affecting one or more of these issuers, experience increased volatility and be highly concentrated in certain issuers.

The fund currently has fewer assets than larger funds, and like other relatively new funds, large inflows and outflows may impact the fund's market exposure for limited periods of time.

First Trust Advisors L.P. is the adviser to the fund. First Trust Advisors L.P. is an affiliate of First Trust Portfolios L.P., the fund's distributor.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value
 
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 advisors are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
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