Risk Considerations

Investors buying or selling fund shares on the secondary market may incur customary brokerage commissions. 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 the fund's net asset value and possibly face delisting.

There are risks involved with investing in ETFs, including the potential loss of money. Index-based ETFs are not actively managed and may not match the return of the specific index it seeks to replicate. Actively managed ETFs do not seek to replicate a specific index and are subject to management risk because the advisor or sub-advisor will apply investment techniques and risk analyses that may not have the desired result.

There is no assurance that any funds listed will achieve their investment objectives. Please be aware that each fund listed is subject to various risks which, depending on the investment objective, may include risks such as non-diversification, concentration, sector, interest rate, momentum investing, fixed-income or equity investing, commodities and futures, and foreign and emerging markets. For a complete description of relative risks for a specific fund please download and carefully read the appropriate First Trust prospectus or call First Trust Portfolios L.P. at 1.800.621.1675 to request a prospectus.

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