Sabrient Defensive Equity, 20  Ticker: FBNLPX
 
Description
A unit investment trust that seeks above-average capital appreciation. The portfolio seeks to find companies that Sabrient believes are positioned to perform well in environments of falling stock prices but also those companies that have the potential to provide solid performance in rising markets. The stocks are selected for the trust by Sabrient Systems, LLC by applying a seven-step investment strategy process.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: SBDF20
Portfolio Status: Secondary
Initial Offer Date: 05/24/2019
Secondary Date: 08/21/2019
Portfolio Ending Date: 08/24/2020
Tax Structure: Regulated Investment Company
Distributions: Semi-Annual
 
Initial Offer Price: $10.0000
NAV(*): $9.9624
POP(*): $10.0988
Remaining Deferred Sales Charge: $0.0900
* As of Trade Date: 10/14/2019 4:00pm ET
The Public Offering Price (POP) represents the net asset value per unit plus any applicable organization costs and sales charges. The Net Asset Value (NAV) represents the value per unit of a trust’s portfolio securities and other assets reduced by applicable deferred sales charges and other liabilities.

 Historical 12-Month Distribution of Trust Holdings:^
Rate (as of 10/14/2019) Per Unit (as of 10/14/2019)
1.68% $0.16920
^There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The historical 12-month distribution per unit and historical 12-month distribution rate of the securities included in the trust are for illustrative purposes only and are not indicative of the trust's distribution or distribution rate. The historical 12-month distribution per unit is based on the weighted average of the trailing twelve month distributions paid by the securities included in the portfolio. The historical 12-month distribution rate is calculated by dividing the historical 12-month distributions by the trust's offering price. The historical 12-month distribution and rate are reduced to account for the effects of fees and expenses, which will be incurred when investing in a trust. For trusts that include funds, distributions may include realized short term capital gains, realized long-term capital gains and/or return of capital. PLEASE NOTE: For trusts that hold preferred securities, the historical distribution rate is calculated using only the holdings that have 12 months of distribution history. Any holdings without a 12 month history of dividends were excluded from the calculation. Certain of the issuers may have reduced their dividends or distributions over the prior twelve months. The distribution per unit and rate paid by the trust may be higher or lower than the amount shown above due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, or the sale of securities in the portfolio.

 Holdings Analysis Click here to Perform a Benchmark Comparison  
 Sector Weighting
Communication Services  Communication Services 6.09%
Consumer Discretionary  Consumer Discretionary 8.36%
Consumer Staples  Consumer Staples 3.65%
Energy  Energy 13.83%
Financials  Financials 25.13%
Health Care  Health Care 8.55%
Industrials  Industrials 15.79%
Information Technology  Information Technology 2.20%
Materials  Materials 12.23%
Real Estate  Real Estate 0.00%
Utilities  Utilities 3.63%
Other  Other 0.54%
 
  Large Mid Small  
Growth  10.25% 7.56% 12.32%  
Value  37.64% 17.24% 14.45%  

 Style Weighting
Large-Cap Growth 10.25%
Large-Cap Value 37.64%
Mid-Cap Growth 7.56%
Mid-Cap Value 17.24%
Small-Cap Growth 12.32%
Small-Cap Value 14.45%
Undetermined 0.54%
 Composition
U.S. Stocks 77.37%   Other 0.54%
Non-U.S. Stocks 22.09%      
The style and sector characteristics of the portfolio are determined as of 10/14/2019 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $35,445.28
Weighted Average Price/Earnings 15.43
Weighted Average Price/Book 1.84
As of 10/14/2019
All market capitalization numbers are in USD$ Millions

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolSectorStyleWeighting
 Pretium Resources Inc. PVG Materials  Materials Small-Cap Growth 2.90%
 SSR Mining Inc. SSRM Materials  Materials Small-Cap Value 2.64%
 Taylor Morrison Home Corporation (Class A) TMHC Consumer Discretionary  Consumer Discretionary Small-Cap Value 2.50%
 Assurant, Inc. AIZ Financials  Financials Mid-Cap Value 2.42%
 Arch Capital Group Ltd. ACGL Financials  Financials Mid-Cap Value 2.35%
 Newmont Goldcorp Corporation NEM Materials  Materials Large-Cap Value 2.34%
 Axalta Coating Systems Ltd. AXTA Materials  Materials Mid-Cap Growth 2.31%
 Valero Energy Corporation VLO Energy  Energy Large-Cap Value 2.27%
 Foundation Building Materials, Inc. FBM Industrials  Industrials Small-Cap Growth 2.23%
 The Allstate Corporation ALL Financials  Financials Large-Cap Value 2.22%
 RenaissanceRe Holdings Ltd. RNR Financials  Financials Mid-Cap Value 2.21%
 QUALCOMM Incorporated QCOM Information Technology  Information Technology Large-Cap Growth 2.20%
 Simpson Manufacturing Co., Inc. SSD Industrials  Industrials Small-Cap Growth 2.19%
 Charter Communications, Inc. CHTR Communication Services  Communication Services Large-Cap Value 2.18%
 The Hartford Financial Services Group, Inc. HIG Financials  Financials Large-Cap Value 2.17%
 Rent-A-Center, Inc. RCII Consumer Discretionary  Consumer Discretionary Small-Cap Growth 2.17%
 Citigroup Inc. C Financials  Financials Large-Cap Value 2.16%
 L3Harris Technologies Inc. LHX Industrials  Industrials Large-Cap Growth 2.12%
 Meridian Bancorp, Inc. EBSB Financials  Financials Small-Cap Value 2.10%
 eBay Inc. EBAY Consumer Discretionary  Consumer Discretionary Large-Cap Growth 2.09%
 America Movil, S.A.B. de C.V. (ADR) AMX Communication Services  Communication Services Large-Cap Growth 2.09%
 Carlisle Companies Incorporated CSL Industrials  Industrials Mid-Cap Value 2.08%
 Southern Copper Corporation SCCO Materials  Materials Large-Cap Value 2.04%
 Tyson Foods, Inc. (Class A) TSN Consumer Staples  Consumer Staples Large-Cap Value 2.00%
 Discover Financial Services DFS Financials  Financials Large-Cap Value 2.00%
 Cigna Corporation CI Health Care  Health Care Large-Cap Value 1.95%
 Chevron Corporation CVX Energy  Energy Large-Cap Value 1.94%
 The Travelers Companies, Inc. TRV Financials  Financials Large-Cap Value 1.93%
 UMB Financial Corporation UMBF Financials  Financials Small-Cap Value 1.91%
 Suncor Energy Inc. SU Energy  Energy Large-Cap Value 1.90%
 Delta Air Lines, Inc. DAL Industrials  Industrials Large-Cap Value 1.90%
 The Timken Company TKR Industrials  Industrials Small-Cap Value 1.88%
 Mercury General Corporation MCY Financials  Financials Small-Cap Value 1.88%
 The AES Corporation AES Utilities  Utilities Mid-Cap Growth 1.86%
 Total S.A. (ADR) TOT Energy  Energy Large-Cap Value 1.85%
 Cinemark Holdings, Inc. CNK Communication Services  Communication Services Mid-Cap Value 1.82%
 Royal Dutch Shell Plc (Class B) (ADR) RDS/B Energy  Energy Large-Cap Value 1.80%
 HD Supply Holdings, Inc. HDS Industrials  Industrials Mid-Cap Growth 1.80%
 Prudential Financial, Inc. PRU Financials  Financials Large-Cap Value 1.78%
 New Jersey Resources Corporation NJR Utilities  Utilities Mid-Cap Value 1.77%
 AbbVie Inc. ABBV Health Care  Health Care Large-Cap Growth 1.75%
 Anthem, Inc. ANTM Health Care  Health Care Large-Cap Value 1.66%
 The J.M. Smucker Company SJM Consumer Staples  Consumer Staples Mid-Cap Value 1.65%
 Pacira BioSciences Inc. PCRX Health Care  Health Care Small-Cap Growth 1.64%
 Foot Locker, Inc. FL Consumer Discretionary  Consumer Discretionary Mid-Cap Value 1.60%
 The Middleby Corporation MIDD Industrials  Industrials Mid-Cap Growth 1.59%
 Centene Corporation CNC Health Care  Health Care Large-Cap Value 1.55%
 Murphy Oil Corporation MUR Energy  Energy Small-Cap Value 1.54%
 Cabot Oil & Gas Corporation COG Energy  Energy Mid-Cap Value 1.34%
 DMC Global Inc. BOOM Energy  Energy Small-Cap Growth 1.19%
 
Total Number of Holdings:    50
Underlying Securities information represented above is as of 10/14/2019 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.04500 September 20, 2019
$0.04500 October 18, 2019
$0.04500 November 20, 2019

Risk Considerations

Equity Risk. An investment in a portfolio containing common stocks is subject to certain risks, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market.

Foreign Securities Risk. An investment in securities of foreign issuers should be made with an understanding of the additional risks involved, such as currency fluctuations, political risk, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers.

REITs Risk. An investment in a portfolio containing REIT securities is subject to additional risks including limited diversification. Companies involved in the real estate industry are subject to changes in the real estate market, vacancy rates and competition, volatile interest rates and economic recession.

Small-Cap and Mid-Cap Risk. An investment in a portfolio containing small-cap and mid-cap companies is subject to additional risks, as the share prices of small-cap companies and certain mid-cap companies are often more volatile than those of larger companies due to several factors, including limited trading volumes, products, financial resources, management inexperience and less publicly available information.

Volatility Risk. The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers.

Operational Risk. As the use of Internet technology has become more prevalent in the course of business, the trust has become more susceptible to potential operational risks through breaches in cybersecurity.

All data used for the sector and style classification comparisons is from Bloomberg Finance L.P, which we believe to be reliable, but do not take responsibility for its accuracy.

The style and capitalization characteristics used to describe the stocks are designed to help you understand how they fit into your overall investment plan. Due to changes in the value of the stocks the characteristics may vary over time. In general, growth stocks have high relative price-to-book ratios while value stocks have low relative price-to-book ratios. In determining market capitalization characteristics, we analyze the market capitalizations of the 3,000 largest stocks in the U.S. (excluding foreign securities, ADRs, limited partnerships and regulated investment companies) on a monthly basis. Companies with market capitalizations among the largest 10% are considered Large-Cap securities, the next 20% are considered Mid-Cap securities and the remaining securities are considered Small-Cap securities.

You should carefully consider the trust's investment objectives, risks, and charges and expenses before investing. Contact your financial advisor or call First Trust Portfolios, L.P. at 1.800.621.1675 to request a prospectus, which contains this and other information about the trust. Read it carefully before you invest.

This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state to any person to whom it is not lawful to make such an offer. Sales of any of these securities must include prospectus delivery and the services of a retail broker/dealer duly licensed in the appropriate states.

Not FDIC Insured, Not Bank Guaranteed and May Lose Value.