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First Trust Multi-Manager Large Growth ETF (MMLG)
Investment Objective/Strategy - The First Trust Multi-Manager Large Growth ETF seeks to provide long-term capital appreciation. Under normal market conditions, the Fund will invest at least 80% of its net assets (including investment borrowings) in equity securities issued by large capitalization companies. The Fund considers large capitalization companies to be those companies with market capitalizations within the market capitalization range of the companies comprising the Russell 1000 Growth Index (as of the index's most recent reconstitution). The Fund's portfolio will be principally composed of common stocks issued by companies domiciled in the United States, common stocks issued by non-U.S. companies that are principally traded in the United States and American Depositary Receipts.
There can be no assurance that the Fund's investment objectives will be achieved.
Fund Overview
TickerMMLG
Fund TypeLarge Cap Growth
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon
Portfolio Manager/Sub-AdvisorSands Capital Management, Wellington Management Company LLP
CUSIP33740F789
ISINUS33740F7895
Intraday NAVMMLGIV
Fiscal Year-End08/31
ExchangeNYSE Arca
Inception7/21/2020
Inception Price$19.84
Inception NAV$19.84
Expense Ratio0.85%
Current Fund Data (as of 9/17/2020)
Closing NAV1$20.60
Closing Market Price2$20.59
Bid/Ask Midpoint$20.61
Bid/Ask Premium0.04%
Total Net Assets$2,060,117
Outstanding Shares100,002
Daily Volume108
Average 30-Day Daily Volume324
Closing Market Price 52-Week High/Low$22.22 / $19.40
Closing NAV 52-Week High/Low$22.45 / $19.41
Number of Holdings (excluding cash)90
Fund Characteristics (as of 8/31/2020)3
Maximum Market Cap.$2,206,911
Median Market Cap.$54,157
Minimum Market Cap.$3,768
Price/Earnings47.32
Price/Book9.13
Price/Cash Flow32.63
Price/Sales5.52
Top Holdings (as of 9/18/2020)*
Holding Percent
Amazon.com, Inc. 6.51%
Microsoft Corporation 5.38%
Facebook, Inc. (Class A) 3.95%
ServiceNow, Inc. 3.95%
Sea Limited (ADR) 3.88%
Adobe Incorporated 3.82%
Netflix, Inc. 3.73%
Visa Inc. (Class A) 2.93%
Apple Inc. 2.84%
Alphabet Inc. (Class A) 2.77%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Top Sector Exposure (as of 9/18/2020)
Information Technology 38.69%
Communication Services 22.25%
Health Care 14.04%
Consumer Discretionary 11.44%
Industrials 5.28%
Consumer Staples 5.09%
Financials 1.19%
Materials 0.98%
Real Estate 0.53%
Utilities 0.51%
Month End Performance (as of 8/31/2020)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception4
Fund Performance *
Net Asset Value (NAV) N/A N/A N/A N/A N/A N/A 10.18%
After Tax Held N/A N/A N/A N/A N/A N/A 10.18%
After Tax Sold N/A N/A N/A N/A N/A N/A 6.03%
Market Price N/A N/A N/A N/A N/A N/A 10.13%
Index Performance **
Russell 1000® Growth Index N/A N/A N/A N/A N/A N/A 11.98%
Russell 1000® Index N/A N/A N/A N/A N/A N/A 7.85%
Quarter End Performance (as of 6/30/2020)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception4
Fund Performance *
Net Asset Value (NAV) N/A N/A N/A N/A N/A N/A N/A
After Tax Held N/A N/A N/A N/A N/A N/A N/A
After Tax Sold N/A N/A N/A N/A N/A N/A N/A
Market Price N/A N/A N/A N/A N/A N/A N/A
Index Performance **
Russell 1000® Growth Index N/A N/A N/A N/A N/A N/A N/A
Russell 1000® Index N/A N/A N/A N/A N/A N/A N/A

*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.

Russell 1000® Growth Index - The Index measures the performance of the large-cap growth segment of the Russell 1000® Index.

Russell 1000® Index - The Index is an unmanaged index used to measure the large-cap U.S. equity universe.

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 All market capitalization numbers are in USD$ Millions.
4 Inception Date is 7/21/2020

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

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 a fund by authorized participants, in very large creation/redemption units. If a 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 a fund's net asset value and possibly face delisting.

A fund's shares will change in value, and you could lose money by investing in a fund. One of the principal risks of investing in a fund is market risk. Market risk is the risk that a particular stock owned by a fund, fund shares or stocks in general may fall in value. Some of the securities held by the fund may be illiquid. There can be no assurance that a fund's investment objective will be achieved. The outbreak of the respiratory disease designated as COVID-19 in December 2019 has caused significant volatility and declines in global financial markets, which have caused losses for investors. The COVID-19 pandemic may last for an extended period of time, and will continue to impact the economy for the foreseeable future.

In managing a fund's investment portfolio, the sub-advisors will apply investment techniques and risk analyses that may not have the desired result. Each sub-advisor of a multi-managed fund makes investment recommendations independently and they may not complement each other. This may result in an increase in a fund's portfolio turnover rate and higher transaction costs and risks.

To the extent that a fund has significant exposure to a single asset class, industry or sector, an adverse economic business or political development may affect the value of a fund's investments more than if a fund were more broadly diversified.

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. Depositary receipts may be less liquid than the underlying shares in their primary trading market.

Large inflows and outflows may impact a newer fund's market exposure for limited periods of times.

There can be no assurance that the securities held by a fund will stay within a fund's intended market capitalization range.

A fund classified as "non-diversified" may invest a relatively high percentage of its assets in a limited number of issuers. As a result, a 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.

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

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 professionals 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. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
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