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.
The fund's shares will change in value, and you could lose money by investing in the fund.
An index fund's return may not match the return of the applicable index.
A fund may not be fully invested at times. Securities held by an index fund will generally not be bought or sold in response to market fluctuations. The securities held by a fund may be issued by companies concentrated in a particular industry or country.
A fund may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.
An investment in a fund containing equity securities of foreign issuers is subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers. These risks may be heightened for securities of companies located in, or with significant operations in, emerging market countries.
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, shares may only be redeemed directly from the fund by authorized participants, in very large creation/redemption units.
Actively managed funds are subject to management risk. In managing a fund's investment portfolio, the advisor or sub-advisor (as applicable) will apply investment techniques and risk analyses that may not have the desired result.
There can be no guarantee that a fund will meet its investment objective. With the exception of MDIV, FDM, FVI, FVD and FVL, the funds are classified as "non-diversified." A non-diversified fund generally may invest a larger percentage of its assets in the securities of a smaller number of issuers. As a result, these funds may be more susceptible to the risks associated with these particular companies, or to a single economic, political or regulatory occurrence affecting these companies.
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.