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First Trust Active Factor Large Cap ETF (AFLG)
Investment Objective/Strategy - The First Trust Active Factor Large Cap ETF seeks to provide capital appreciation. Under normal market conditions, the Fund will invest at least 80% of its net assets (including investment borrowings) in U.S.-listed equity securities issued by large capitalization companies. The Fund is actively managed primarily relying on a multi-factor quantitative methodology with active risk management to construct a portfolio of securities exhibiting exposures to one or more investing factors. The multi-factor quantitative methodology currently used by the Fund may take into account the following factors: (i) value; (ii) momentum; (iii) quality; and (iv) low volatility.
There can be no assurance that the Fund's investment objectives will be achieved.
Fund Overview
TickerAFLG
Fund TypeLarge Cap Equity
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon
CUSIP33740F821
ISINUS33740F8216
Intraday NAVAFLGIV
Fiscal Year-End08/31
ExchangeNYSE Arca
Inception12/3/2019
Inception Price$19.87
Inception NAV$19.87
Expense Ratio0.55%
Current Fund Data (as of 5/29/2020)
Closing NAV1$18.67
Closing Market Price2$18.69
Bid/Ask Midpoint$18.66
Bid/Ask Discount0.06%
Total Net Assets$1,867,151
Outstanding Shares100,002
Daily Volume182
Average 30-Day Daily Volume612
Closing Market Price 52-Week High/Low$21.21 / $13.62
Closing NAV 52-Week High/Low$21.23 / $13.54
Number of Holdings (excluding cash)264
Fund Characteristics (as of 4/30/2020)6
Maximum Market Cap.$1,359,028
Median Market Cap.$20,984
Minimum Market Cap.$951
Price/Earnings16.56
Price/Book2.80
Price/Cash Flow11.03
Price/Sales1.64
Top Holdings (as of 5/29/2020)*
Holding Percent
Apple Inc. 5.96%
Microsoft Corporation 3.53%
Amazon.com, Inc. 2.61%
Alphabet Inc. (Class A) 2.15%
Johnson & Johnson 1.62%
Bristol-Myers Squibb Company 1.22%
Walmart, Inc. 1.22%
The Home Depot, Inc. 1.12%
Citrix Systems, Inc. 1.08%
Humana Inc. 0.95%

* 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 5/31/2020)3$0.0573
30-Day SEC Yield (as of 4/30/2020)41.83%
Distribution Rate (as of 4/30/2020)51.29%
Bid/Ask Midpoint vs. NAV (as of 3/31/2020)
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
3/31/2020 54 0 0 0
12/31/2019 19 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
3/31/2020 8 0 0 0
12/31/2019 0 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 Sector Exposure (as of 5/29/2020)
Information Technology 24.97%
Health Care 15.89%
Consumer Discretionary 10.99%
Financials 10.19%
Communication Services 8.68%
Industrials 8.00%
Consumer Staples 6.37%
Real Estate 4.88%
Utilities 3.99%
Materials 3.48%
Energy 2.56%
Month End Performance (as of 4/30/2020)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception7
Fund Performance *
Net Asset Value (NAV) -12.37% -13.14% N/A N/A N/A N/A -10.17%
After Tax Held -12.50% -13.27% N/A N/A N/A N/A -10.37%
After Tax Sold -7.33% -7.79% N/A N/A N/A N/A -6.02%
Market Price -12.37% -13.14% N/A N/A N/A N/A -10.17%
Index Performance **
S&P 500 Index -9.26% -9.29% N/A N/A N/A N/A -5.12%
Quarter End Performance (as of 3/31/2020)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception7
Fund Performance *
Net Asset Value (NAV) -22.64% -22.64% N/A N/A N/A N/A -19.99%
After Tax Held -22.75% -22.75% N/A N/A N/A N/A -20.17%
After Tax Sold -13.40% -13.40% N/A N/A N/A N/A -11.82%
Market Price -22.59% -22.59% N/A N/A N/A N/A -19.94%
Index Performance **
S&P 500 Index -19.60% -19.60% N/A N/A N/A N/A -15.90%

*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.

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.

**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.

S&P 500 Index - The Index is an unmanaged index of 500 stocks used to measure large-cap U.S. stock market performance.

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 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 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 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.
6 All market capitalization numbers are in USD$ Millions.
7 Inception Date is 12/3/2019

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.

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 impact of this COVID-19 pandemic may be short term or may last for an extended period of time, and in either case could result in a substantial economic downturn or recession.

The fund may invest in securities issued by companies concentrated in a particular industry or sector, which involves additional risks including limited diversification.

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

The fund currently has fewer assets than larger, more established funds, and like other relatively new funds, large inflows and outflows may impact the fund's market exposure for limited periods of time.

There can be no assurance that the securities held by the fund will stay within the fund's intended market capitalization range.

The fund is classified as "non-diversified" and may invest a relatively high percentage of its assets in a limited number of issuers. As a result, the fund may be more susceptible to a single adverse economic or regulatory occurrence affecting one or more of these issuers, experience increased volatility and be highly concentrated in certain issuers.

Actively managed funds 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.

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.

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 advisors 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.
First Trust Advisors L.P.
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