First Trust S&P REIT Index Fund (FRI)

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	Fact Sheet
	Summary Prospectus
	Monthly Performance Report

Fund Summary

Investment Objective/Strategy - The First Trust S&P REIT Index Fund is an exchange-traded fund. This exchange-traded Fund seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an equity index called the S&P United States REIT Index.

There can be no assurance that the Fund's investment objectives will be achieved.

The S&P United States REIT Index measures the investable U.S. real estate investment trust market and maintains a constituency that reflects the market's overall composition.
All securities added to the S&P United States REIT Index must meet certain liquidity and market capitalization requirements.
The Standard & Poor's Index Committee, a team of Standard & Poor's economists and index analysts, maintains the S&P United States REIT Index. Maintenance includes implementation of daily corporate actions, quarterly updates of significant events, and annual portfolio reconstitution each September. Share adjustments that exceed 5% are made at the time of the change. Share adjustments of less than 5% are made on a quarterly basis.

Fund Overview

Ticker	FRI
Fund Type	REIT
Investment Advisor	First Trust Advisors L.P.
Investor Servicing Agent	Bank of New York Mellon
CUSIP	33734G108
ISIN	US33734G1085
Intraday NAV	FRIIV
Fiscal Year-End	12/31
Exchange	NYSE Arca
Inception	5/8/2007
Inception Price	$20.00
Inception NAV	$20.00
Rebalance Frequency	Quarterly
Gross Expense Ratio*	0.48%
Net Expense Ratio*	0.48%

* As of 5/1/2018

Expenses are capped contractually at 0.50% per year, at least until April 30, 2019.

Current Fund Data (as of 2/14/2019)

Closing NAV¹	$24.40
Closing Share Price²	$24.41
Bid/Ask Midpoint	$24.40
Bid/Ask Discount	0.01%
Total Net Assets	$117,137,386
Outstanding Shares	4,800,002
Daily Volume	23,354
Average 30-Day Daily Volume	49,969
Closing Share Price 52-Week High/Low	$24.51 / $20.47
Closing NAV 52-Week High/Low	$24.49 / $20.47
Number of Holdings	157

Fund Characteristics (as of 1/31/2019)⁸

Maximum Market Cap.	$56,332
Median Market Cap.	$2,862
Minimum Market Cap.	$173
Price/Earnings	29.84
Price/Book	2.26
Price/Cash Flow	14.47
Price/Sales	6.58

Top Holdings (as of 2/14/2019)

Holding	Percent
Simon Property Group, Inc.	6.67%
Prologis, Inc.	5.23%
Public Storage	3.66%
Welltower Inc.	3.41%
AvalonBay Communities, Inc.	3.17%
Equity Residential	3.16%
Digital Realty Trust, Inc.	2.75%
Ventas, Inc.	2.71%
Realty Income Corporation	2.42%
Boston Properties, Inc.	2.41%

Holdings are subject to change.

NAV History (Since Inception)

Past performance is not indicative of future results.

Distribution Information

Dividend per Share Amt (as of 2/15/2019)³	$0.3015
30-Day SEC Yield (as of 1/31/2019)⁴	3.73%
Unsubsidized 30-Day SEC Yield (as of 1/31/2019)⁵	3.71%
12-Month Distribution Rate (as of 1/31/2019)⁶	2.87%
Index Yield (as of 1/31/2019)⁷	4.20%

Bid/Ask Midpoint vs. NAV (as of 12/31/2018)

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
12/31/2018	25	2	1	0
9/30/2018	34	1	0	0
6/30/2018	23	0	0	0
3/31/2018	4	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
12/31/2018	34	0	1	0
9/30/2018	28	0	0	0
6/30/2018	41	0	0	0
3/31/2018	57	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.

Top Sub-Industry Exposure (as of 2/14/2019)

Retail REITs	19.01%
Residential REITs	18.34%
Specialized REITs	15.36%
Office REITs	13.19%
Health Care REITs	13.03%
Industrial REITs	9.07%
Hotel & Resort REITs	6.13%
Diversified REITs	5.87%

Month End Performance (as of 1/31/2019)

	3 Mos	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁹
Fund Performance *
Net Asset Value (NAV)	7.49%	11.60%	11.83%	7.46%	8.74%	15.03%	4.37%
After Tax Held	6.89%	11.60%	10.44%	6.09%	7.45%	13.82%	3.28%
After Tax Sold	4.40%	6.87%	6.94%	5.12%	6.24%	12.04%	2.88%
Market Price	7.44%	11.65%	11.98%	7.48%	8.79%	14.96%	4.37%

Index Performance **
S&P United States REIT Index	7.65%	11.76%	12.44%	8.03%	9.32%	15.65%	N/A
FTSE EPRA/NAREIT North America Index	7.33%	11.68%	11.63%	7.92%	8.89%	15.41%	4.62%
Russell 3000® Index	0.45%	8.58%	-2.26%	14.19%	10.41%	15.12%	7.37%

Quarter End Performance (as of 12/31/2018)

	3 Mos	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁹
Fund Performance *
Net Asset Value (NAV)	-6.12%	-4.19%	-4.19%	2.38%	7.24%	11.58%	3.42%
After Tax Held	-6.64%	-5.38%	-5.38%	1.08%	5.97%	10.40%	2.34%
After Tax Sold	-3.62%	-2.46%	-2.46%	1.26%	5.09%	9.01%	2.14%
Market Price	-6.03%	-4.18%	-4.18%	2.35%	7.24%	11.64%	3.42%

Index Performance **
S&P United States REIT Index	-6.09%	-3.79%	-3.79%	2.88%	7.78%	12.16%	N/A
FTSE EPRA/NAREIT North America Index	-6.13%	-3.89%	-3.89%	2.83%	7.24%	12.06%	3.67%
Russell 3000® Index	-14.30%	-5.24%	-5.24%	8.97%	7.91%	13.18%	6.66%

3-Year Statistics (as of 1/31/2019)

	Standard Deviation	Alpha	Beta	Sharpe Ratio	Correlation
FRI	15.01%	-3.60	0.84	0.48	0.65
FTSE EPRA/NAREIT North America Index	14.71%	-3.06	0.83	0.52	0.65
Russell 3000® Index	11.55%	---	1.00	1.12	1.00

Standard Deviation is a measure of price variability (risk). Alpha is an indication of how much an investment outperforms or underperforms on a risk-adjusted basis relative to its benchmark.Beta is a measure of price variability relative to the market. Sharpe Ratio is a measure of excess reward per unit of volatility. Correlation is a measure of the similarity of performance.

*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. The fund's performance reflects fee waivers and expense reimbursements, absent which performance would have been lower.

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.

**Performance information for the S&P United States REIT Index is for illustrative purposes only and does not represent actual fund performance.

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.

On November 6, 2008, the fund's underlying index changed from the S&P REIT Composite Index to the S&P United States REIT Index. Therefore, the fund's performance and historical returns shown for the periods prior to November 6, 2008 are not necessarily indicative of the performance that the fund, based on its current index, would have generated.

FTSE EPRA/NAREIT North America Index - The Index is modified market cap weighted based on free float market capitalization and tracks the performance of listed real estate companies or REITs in North America.

Russell 3000® Index - The Index is comprised of the 3000 largest and most liquid stocks based and traded in the U.S.

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 share 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	Most recent distribution paid or declared to today's date. Subject to change in the future. There is no guarantee that the fund will declare dividends.
⁴	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.
⁵	The unsubsidized 30-day SEC yield is calculated the same as the 30-day SEC yield, however it excludes contractual fee waivers and expense reimbursements.
⁶	12-Month Distribution Rate is calculated by dividing the sum of the fund's trailing 12-month ordinary distributions paid or declared by the NAV price. Distribution rates may vary.
⁷	Index yield represents the weighted average trailing 12-month dividend of the constituents of the S&P United States REIT Index.
⁸	All market capitalization numbers are in USD$ Millions.
⁹	Inception Date is 5/8/2007

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.

The fund's return may not match the return of the S&P United States REIT Index. Securities held by the fund will generally not be bought or sold in response to market fluctuations.

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. 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 fund is subject to the risks associated with investing in real estate and real estate investment trusts (REITs), which include fluctuations in the value of underlying properties, defaults by borrowers or tenants, market saturation, changes in general and local economic conditions, decreases in market rates for rents, increases in competition, property taxes, capital expenditures or operating expenses, dependency upon management skills, limited diversification, and other economic, political or regulatory occurrences. Increases in interest rates typically lower the present value of a REIT's future earnings stream, and may make financing property purchases and improvements more costly.

The value of the fund will generally decline when investors in REIT stocks anticipate or experience rising interest rates.

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.

Standard & Poor's^® and S&P^® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P") and have been licensed for use by First Trust Advisors L.P. The First Trust S&P REIT Index Fund is not sponsored, endorsed, sold or promoted by S&P or its affiliates, and S&P and its affiliates make no representation, warranty or condition regarding the advisability of buying, selling or holding shares of the First Trust S&P REIT Index Fund.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value