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First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund (FFR)
Investment Objective/Strategy - First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before fees and expenses, of an equity index called the FTSE EPRA/NAREIT Developed Index.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The Index is designed to measure the stock performance of companies engaged in specific real estate activities of the North American, European and Asian real estate markets. Relevant real estate activities are defined as the ownership, trading and development of income-producing real estate.
  • The constituents of the Index are required to meet individual geographic criteria and are subject to size, liquidity, and free float screens.
  • The Index is a modified market capitalization weighted index, based on free float market capitalization. The Index is rebalanced and reconstituted quarterly.
Fund Overview
Fund TypeGlobal REIT
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon
Fiscal Year-End09/30
ExchangeNYSE Arca
Inception Price$50.00
Inception NAV$50.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.85%
Net Expense Ratio*0.60%
* As of 2/1/2021
Expenses are capped contractually at 0.60% per year, at least until January 31, 2022.
Current Fund Data (as of 4/13/2021)
Closing NAV1$48.12
Closing Market Price2$48.13
Bid/Ask Midpoint$48.13
Bid/Ask Premium0.02%
30-Day Median Bid/Ask Spread30.50%
Total Net Assets$33,278,919
Outstanding Shares691,608
Daily Volume3,533
Average 30-Day Daily Volume2,592
Closing Market Price 52-Week High/Low$48.13 / $33.67
Closing NAV 52-Week High/Low$48.12 / $33.84
Number of Holdings (excluding cash)343
Top Holdings (as of 4/13/2021)*
Holding Percent
Prologis, Inc. 4.75%
Digital Realty Trust, Inc. 2.38%
Public Storage 2.34%
Vonovia SE 2.29%
Simon Property Group, Inc. 2.16%
Welltower Inc. 1.84%
AvalonBay Communities, Inc. 1.54%
Equity Residential 1.54%
Realty Income Corporation 1.44%
Alexandria Real Estate Equities, Inc. 1.35%

* Excluding cash.  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 4/14/2021)4$0.3210
30-Day SEC Yield (as of 3/31/2021)53.29%
Unsubsidized 30-Day SEC Yield (as of 3/31/2021)63.26%
12-Month Distribution Rate (as of 3/31/2021)70.69%
Index Yield (as of 3/31/2021)83.47%
For funds with certain equity strategies, due to the negative economic impact across many industries caused by the COVID-19 outbreak, certain of the issuers of the securities included in the fund may elect to reduce the amount of dividends and/or distributions paid in the future. As a result, the "12-Month Distribution Rate," which is based on the fund's trailing 12-month ordinary distributions, will likely be higher, and in some cases significantly higher, than the actual 12-month distribution rate achieved by the fund.
Fund Characteristics (as of 3/31/2021)10
Maximum Market Cap.$78,949
Median Market Cap.$3,123
Minimum Market Cap.$367
Price/Cash Flow15.73
Top Country Exposure (as of 4/13/2021)
Country Percent
United States 54.89%
Japan 11.41%
Hong Kong 5.73%
United Kingdom 4.76%
Germany 4.52%
Australia 3.42%
Singapore 3.21%
Canada 2.86%
Sweden 2.40%
France 1.85%
Bid/Ask Premium/Discount (as of 4/13/2021)
  2020 Q1 2021 Q2 2021 Q3 2021
Days Traded at Premium 74 33 6 ---
Days Traded at Discount 179 28 2 ---
Top Sub-Industry Exposure (as of 4/13/2021)
Diversified REITs 21.24%
Residential REITs 17.72%
Retail REITs 14.89%
Industrial REITs 12.77%
Office REITs 10.88%
Healthcare REITs 7.86%
Self Storage REITs 4.86%
Data Centers REITs 3.28%
Lodging/Resorts REITs 2.67%
Industrial/Office Mixed REITs 2.02%
Month End Performance (as of 3/31/2021)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) 5.90% 5.90% 34.77% 5.21% 4.05% 5.81% 2.84%
After Tax Held 5.90% 5.90% 34.31% 3.95% 2.70% 4.51% 1.52%
After Tax Sold 3.49% 3.49% 20.53% 3.45% 2.50% 3.98% 1.55%
Market Price 6.00% 6.00% 33.94% 5.25% 4.16% 5.76% 2.83%
Index Performance **
FTSE EPRA/NAREIT Developed Index 6.11% 6.11% 35.95% 6.10% 4.85% 6.64% 3.69%
MSCI World REIT Index 6.21% 6.21% 31.28% 8.39% 5.33% 7.24% 3.66%
S&P Global REIT Index 6.22% 6.22% 36.05% 5.90% 3.52% 6.23% 3.35%
Quarter End Performance (as of 3/31/2021)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) 5.90% 5.90% 34.77% 5.21% 4.05% 5.81% 2.84%
After Tax Held 5.90% 5.90% 34.31% 3.95% 2.70% 4.51% 1.52%
After Tax Sold 3.49% 3.49% 20.53% 3.45% 2.50% 3.98% 1.55%
Market Price 6.00% 6.00% 33.94% 5.25% 4.16% 5.76% 2.83%
Index Performance **
FTSE EPRA/NAREIT Developed Index 6.11% 6.11% 35.95% 6.10% 4.85% 6.64% 3.69%
MSCI World REIT Index 6.21% 6.21% 31.28% 8.39% 5.33% 7.24% 3.66%
S&P Global REIT Index 6.22% 6.22% 36.05% 5.90% 3.52% 6.23% 3.35%
3-Year Statistics (as of 3/31/2021)
  Standard Deviation Alpha Beta Sharpe Ratio Correlation
FFR 19.26% -3.22 1.08 0.29 0.96
MSCI World REIT Index 17.15% --- 1.00 0.47 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 determined by using the midpoint of the national best bid offer price ("NBBO") 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 FTSE EPRA/NAREIT Developed 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.

FTSE EPRA/NAREIT Developed Index - The Index is designed to track the performance of listed real estate companies and REITS worldwide.

MSCI World REIT Index - The Index is a free float-adjusted market capitalization-weighted index that is designed to measure the real estate investment trusts from 23 developed markets around the world.

S&P Global REIT Index - The Index defines and measures the investable universe of publicly traded real estate investment trusts with constituents from 13 countries.

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 median bid-ask spread is calculated by identifying the national best bid and national best offer ("NBBO") for the fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.
4 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.
5 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.
6 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.
7 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.
8 Index yield represents the weighted average trailing 12-month dividend of the constituents of the FTSE EPRA/NAREIT Developed Index.
9 Distribution Rate is calculated by dividing the fund's most recent ordinary distribution paid or declared, on an annualized basis, by the NAV price. Distribution rates may vary.
10 All market capitalization numbers are in USD$ Millions.
11 Inception Date is 8/27/2007

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 FTSE EPRA/NAREIT Developed 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 security owned by the fund, fund shares or securities in general may fall in value. There can be no assurance that the 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.

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 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.

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.

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.

Source: London Stock Exchange Group plc and its group undertakings, including FTSE International Limited (collectively, the “LSE Group”), European Public Real Estate Association ("EPRA”), and the National Association of Real Estate Investments Trusts (“Nareit”) (and together the “Licensor Parties”). © LSE Group 2020. FTSE Russell is a trading name of certain LSE Group companies. “FTSE®” and “Russell®” are a trade mark(s) of the relevant LSE Group companies and are used by any other LSE Group company under license. “Nareit®” is a trade mark of Nareit, "EPRA®" is a trade mark of EPRA and all are used by the LSE Group under license. All rights in the FTSE EPRA/NAREIT Developed Index or data vest in the Licensor Parties. The Licensor Parties do not accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The Licensor Parties do not promote, sponsor or endorse the content of this communication.

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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