First Trust Brazil AlphaDEX® Fund (FBZ)

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	Fact Sheet
	Summary Prospectus
	Monthly Performance Report

Fund Summary

Investment Objective/Strategy - The First Trust Brazil AlphaDEX® 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 the Fund's fees and expenses, of an equity index called the NASDAQ AlphaDEX® Brazil Index.

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

The NASDAQ AlphaDEX® Brazil Index is an "enhanced" index created and administered by Nasdaq, Inc. ("Nasdaq") which employs the AlphaDEX® stock selection methodology to select stocks from the NASDAQ Brazil Index that meet certain criteria.
Nasdaq constructs the NASDAQ AlphaDEX® Brazil Index by ranking the eligible stocks from the NASDAQ Brazil Index on growth factors including 3-, 6- and 12- month price appreciation, sales to price and one year sales growth, and separately on value factors including book value to price, cash flow to price and return on assets. All stocks are ranked on the sum of ranks for the growth factors and, separately, all stocks are ranked on the sum of ranks for the value factors. A stock must have data for all growth and/or value factors to receive a rank for that style.
Each stock receives the best style rank from the previous step as its selection score.
The top 50 stocks based on the selection score determined in the previous step comprise the "selected stocks". The selected stocks are divided into quintiles based on their rankings and the top ranked quintiles receive a higher weight within the index. The stocks are equally-weighted within each quintile.
Each stock is then tested in order of its selection score rank to check if the weight assigned to that stock is outside the sector weighting constraints, which are set at 15% above the benchmark weight.
- If the weight assigned to the stock, when added with the weight assigned to all higher ranking stocks in its sector, is greater than the constraint, then the stock's weight is lowered to the highest rank in the next quintile. Stocks previously lower in rank then move up one rank. Such stocks in the lowest quintile that violate a constraint are removed from the portfolio and replaced by the highest scoring stock not originally selected, subject to sector constraints. This process continues until all the sector weightings meet the constraint.
The index is reconstituted and rebalanced semi-annually.

Fund Overview

Ticker	FBZ
Fund Type	International Equity
Investment Advisor	First Trust Advisors L.P.
Investor Servicing Agent	Brown Brothers Harriman
CUSIP	33737J133
ISIN	US33737J1337
Intraday NAV	FBZIV
Fiscal Year-End	12/31
Exchange	Nasdaq
Inception	4/18/2011
Inception Price	$29.69
Inception NAV	$29.69
Rebalance Frequency	Semi-Annual
Expense Ratio	0.80%

Current Fund Data (as of 7/23/2021)

Closing NAV¹	$14.21
Closing Market Price²	$14.19
Bid/Ask Midpoint	$14.21
Bid/Ask Discount	0.04%
30-Day Median Bid/Ask Spread³	0.83%
Total Net Assets	$12,082,704
Outstanding Shares	850,002
Daily Volume	1,380
Average 30-Day Daily Volume	15,139
Closing Market Price 52-Week High/Low	$15.23 / $10.11
Closing NAV 52-Week High/Low	$15.28 / $10.14
Number of Holdings (excluding cash)	51

Top Holdings (as of 7/23/2021)*

Holding	Percent
JBS SA	3.50%
Marfrig Global Foods S.A.	3.49%
Companhia Siderurgica Nacional S.A. (CSN)	3.46%
Bradespar SA (Preference)	3.42%
Companhia Paranaense de Energia-Copel (Preference B)	3.39%
Braskem SA (Preference A)	3.29%
Cia. de Transmissao de Enegia Eletrica Paulista (Preference)	3.28%
Embraer SA	3.26%
Banco Pan SA (Preference)	3.12%
Petroleo Brasileiro S.A. (Petrobras) (Preference Shares)	3.02%

* 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 7/26/2021)⁴	$0.2283
30-Day SEC Yield (as of 6/30/2021)⁵	2.05%
12-Month Distribution Rate (as of 6/30/2021)⁶	2.38%
Index Yield (as of 6/30/2021)⁷	3.52%

Fund Characteristics (as of 6/30/2021)⁹

Maximum Market Cap.	$115,841
Median Market Cap.	$8,385
Minimum Market Cap.	$1,789
Price/Earnings	10.58
Price/Book	1.85
Price/Cash Flow	7.25
Price/Sales	1.10

Bid/Ask Premium/Discount (as of 7/23/2021)

	2020	Q1 2021	Q2 2021	Q3 2021
Days Traded at Premium	74	20	30	13
Days Traded at Discount	179	41	33	3

Top Sector Exposure (as of 7/23/2021)

Materials	24.26%
Utilities	21.96%
Financials	14.89%
Consumer Staples	14.31%
Energy	5.74%
Consumer Discretionary	5.57%
Industrials	4.48%
Information Technology	4.05%
Communication Services	2.05%
Real Estate	1.35%
Health Care	1.34%

Hypothetical Growth of $10,000 Since Inception (as of 7/23/2021) *

Month End Performance (as of 6/30/2021)

	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception¹⁰
Fund Performance *
Net Asset Value (NAV)	21.63%	13.09%	41.60%	15.48%	12.11%	-1.14%	-1.23%
After Tax Held	20.88%	12.14%	40.10%	12.81%	8.71%	-3.26%	-3.31%
After Tax Sold	12.81%	7.72%	24.54%	10.92%	8.03%	-1.77%	-1.82%
Market Price	22.43%	13.55%	41.42%	15.68%	12.04%	-1.40%	-1.19%

Index Performance **
NASDAQ AlphaDEX® Brazil Index	21.28%	12.81%	43.92%	17.67%	14.31%	N/A	N/A
MSCI Brazil Index	22.91%	10.65%	46.55%	10.84%	9.69%	-2.43%	-2.46%
NASDAQ Brazil Index	24.66%	10.55%	48.04%	13.42%	10.97%	N/A	N/A

Quarter End Performance (as of 6/30/2021)

	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception¹⁰
Fund Performance *
Net Asset Value (NAV)	21.63%	13.09%	41.60%	15.48%	12.11%	-1.14%	-1.23%
After Tax Held	20.88%	12.14%	40.10%	12.81%	8.71%	-3.26%	-3.31%
After Tax Sold	12.81%	7.72%	24.54%	10.92%	8.03%	-1.77%	-1.82%
Market Price	22.43%	13.55%	41.42%	15.68%	12.04%	-1.40%	-1.19%

Index Performance **
NASDAQ AlphaDEX® Brazil Index	21.28%	12.81%	43.92%	17.67%	14.31%	N/A	N/A
MSCI Brazil Index	22.91%	10.65%	46.55%	10.84%	9.69%	-2.43%	-2.46%
NASDAQ Brazil Index	24.66%	10.55%	48.04%	13.42%	10.97%	N/A	N/A

3-Year Statistics (as of 6/30/2021)

	Standard Deviation	Alpha	Beta	Sharpe Ratio	Correlation
FBZ	38.82%	2.77	0.93	0.55	0.98
MSCI Brazil Index	39.12%	-2.16	0.95	0.44	1.00
NASDAQ Brazil Index	40.95%	---	1.00	0.49	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.

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 NASDAQ AlphaDEX® Brazil 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 July 14, 2015, the fund's underlying index changed from the Defined Brazil Index to the NASDAQ AlphaDEX® Brazil Index. Therefore, the fund's performance and historical returns shown for the periods prior to this date are not necessarily indicative of the performance that the fund, based on its current index, would have generated.

MSCI Brazil Index - The Index measures the performance of the Brazilian equity market.

NASDAQ Brazil Index - The Index is a float adjusted market capitalization-weighted index designed to track the performance of securities assigned to Brazil.

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	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	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 NASDAQ AlphaDEX® Brazil Index.
⁸	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.
⁹	All market capitalization numbers are in USD$ Millions.
¹⁰	Inception Date is 4/18/2011

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.

Risk Considerations

A fund's return may not match the return of its underlying index. A fund invests in securities included in the index regardless of investment merit and the securities held by a 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 a fund by authorized participants in very large creation/redemption units. If a 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 a fund's net asset value and possibly face delisting.

A fund's shares will change in value, and you could lose money by investing in a fund. One of the principal risks of investing in a fund is market risk. Market risk is the risk that a particular stock owned by a fund, fund shares or stocks in general may fall in value. There can be no assurance that a 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. While the development of vaccines has slowed the spread of the virus and allowed for the resumption of "reasonably" normal business activity in the United States, many countries continue to impose lockdown measures in an attempt to slow the spread. Additionally, there is no guarantee that vaccines will be effective against emerging variants of the disease.

Brazil has experienced substantial economic instability resulting from, among other things, periods of very high inflation, persistent structural public sector deficits and significant devaluations of its currency leading to a high degree of price volatility in both the Brazilian equity and foreign currency markets. Brazilian companies may be adversely affected by high interest and unemployment rates, and are particularly sensitive to fluctuations in commodity prices.

A fund that effects all or a portion of its creations and redemptions for cash rather than in-kind may be less tax-efficient

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.

As the use of Internet technology has become more prevalent in the course of business, funds have become more susceptible to potential operational risks through breaches in cyber security.

Depositary receipts may be less liquid than the underlying shares in their primary trading market.

Stocks with growth characteristics tend to be more volatile than certain other stocks and their prices may fluctuate more dramatically than the overall stock market.

A fund may be a constituent of one or more indices or models which could greatly affect a fund's trading activity, size and volatility.

There is no assurance that the index provider or its agents will compile or maintain the index accurately.

Securities of non-U.S. issuers are 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. These risks may be heightened for securities of companies located in, or with significant operations in, emerging market countries.

A fund and a fund's advisor may seek to reduce various operational risks through controls and procedures, but it is not possible to completely protect against such risks.

High portfolio turnover may result in higher levels of transaction costs and may generate greater tax liabilities for shareholders.

A fund with significant exposure to a single asset class, country, region, industry, or sector may be more affected by an adverse economic or political development than a broadly diversified fund.

Securities of small- and mid-capitalization companies may experience greater price volatility and be less liquid than larger, more established companies.

Trading on the exchange may be halted due to market conditions or other reasons. There can be no assurance that the requirements to maintain the listing of a fund on the exchange will continue to be met or be unchanged.

Value stocks are subject to the risk that valuations never improve or that the returns on value stocks are less than returns on other styles of investing or the overall stock market.

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.

Nasdaq® and NASDAQ AlphaDEX® Brazil Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. AlphaDEX® is a registered trademark owned by First Trust that has been licensed to Nasdaq, Inc. for use in the name of the Index. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.

"AlphaDEX^®" is a registered trademark of First Trust Portfolios L.P. First Trust Portfolios L.P. has obtained a patent for the AlphaDEX^® stock selection methodology from the United States Patent and Trademark Office.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value