First Trust Lunt U.S. Factor Rotation ETF (FCTR)

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	Fact Sheet
	Summary Prospectus
	Monthly Performance Report
	Investor Guide

Fund Summary

2019 Estimated Capital Gain Distributions
Certain First Trust Exchange-Traded Funds are expected to pay a short term and/or long-term capital gain distribution in December. For a list of exchange-traded funds expected to pay a capital gain distribution, please click here. Final determination of the source and tax status of all distributions paid in the current year are to be made after year-end and could differ from the expectations noted above.

Investment Objective/Strategy - The First Trust Lunt U.S. Factor Rotation ETF (the "Fund"), seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an equity index called the Lunt Capital Large Cap Factor Rotation Index (the "Index"). The Fund will normally invest at least 90% of its net assets (including investment borrowings) in common stocks that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index.

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

The Lunt Capital Large Cap Factor Rotation Index is designed to provide exposure to U.S. large-cap equities, rotating among four select factors (momentum, value, volatility and quality) when they come into favor using the proprietary Lunt Factor Allocation Methodology.
Index construction begins with a universe of eight factor-oriented sub-indices, representing the highest and lowest ranking stocks in each of the four factors.
- Each sub-index is comprised of 50 securities selected from the Nasdaq US 500 Large Cap Index.
Using the Lunt Factor Allocation proprietary methodology, the eight sub-indices are ranked to determine which side of each factor (high or low) is exhibiting stronger risk-adjusted relative strength.
Each of the sub-indices is given a score and the top four scoring sub-indices are selected for inclusion in the index.
- A high and a low sub-index from the same factor cannot be selected during the same monthly period.
- Each sub-index selected will hold a 25% weight in the index at the time of inclusion. If a selected sub-index is currently in the index, its weight remains unchanged. Newly selected sub-index(es) inherit the weighting of the outgoing sub-index(es). If all four sub-indexes change, each will receive a 25% weight.
The eight sub-indices are evaluated monthly. The momentum, value and volatility sub-indices are rebalanced semi-annually and the quality sub-indices are rebalanced annually.

Fund Overview

Ticker	FCTR
Fund Type	Large Cap Core
Investment Advisor	First Trust Advisors L.P.
Investor Servicing Agent	Bank of New York Mellon
CUSIP	33733E872
ISIN	US33733E8729
Intraday NAV	FCTRIV
Fiscal Year-End	12/31
Exchange	Cboe BZX
Inception	7/25/2018
Inception Price	$20.23
Inception NAV	$20.23
Rebalance Frequency	Monthly
Expense Ratio	0.65%

Current Fund Data (as of 12/9/2019)

Closing NAV¹	$22.32
Closing Market Price²	$22.36
Bid/Ask Midpoint	$22.34
Bid/Ask Premium	0.09%
Total Net Assets	$61,382,138
Outstanding Shares	2,750,002
Daily Volume	1,903
Average 30-Day Daily Volume	9,094
Closing Market Price 52-Week High/Low	$22.46 / $16.74
Closing NAV 52-Week High/Low	$22.45 / $16.70
Number of Holdings (excluding cash)	177

Fund Characteristics (as of 11/29/2019)⁷

Maximum Market Cap.	$1,187,463
Median Market Cap.	$26,062
Minimum Market Cap.	$7,215
Price/Earnings	20.11
Price/Book	2.48
Price/Cash Flow	12.76
Price/Sales	1.38

Top Holdings (as of 12/9/2019)*

Holding	Percent
DXC Technology Company	1.86%
Sysco Corporation	1.32%
MSCI Inc.	1.30%
Capital One Financial Corporation	1.24%
McCormick & Company, Incorporated	1.22%
Mastercard Incorporated	1.19%
Sarepta Therapeutics, Inc.	1.15%
Visa Inc. (Class A)	1.13%
Centene Corporation	1.11%
PepsiCo, Inc.	1.08%

* 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 12/10/2019)³	$0.0704
30-Day SEC Yield (as of 11/29/2019)⁴	1.12%
12-Month Distribution Rate (as of 11/29/2019)⁵	1.10%
Index Yield (as of 11/29/2019)⁶	1.83%

Bid/Ask Midpoint vs. NAV (as of 9/30/2019)

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
9/30/2019	64	0	0	0
6/30/2019	62	0	0	1
3/31/2019	61	0	0	0
12/31/2018	45	2	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
9/30/2019	0	0	0	0
6/30/2019	0	0	0	0
3/31/2019	0	0	0	0
12/31/2018	15	1	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 12/9/2019)

Financials	21.16%
Information Technology	14.86%
Health Care	14.66%
Consumer Staples	9.56%
Energy	8.09%
Real Estate	7.67%
Industrials	6.48%
Utilities	5.48%
Consumer Discretionary	5.03%
Materials	3.57%
Communication Services	3.44%

Month End Performance (as of 11/29/2019)

	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁸
Fund Performance *
Net Asset Value (NAV)	1.87%	27.38%	15.86%	N/A	N/A	N/A	8.74%
After Tax Held	1.74%	27.02%	15.28%	N/A	N/A	N/A	8.30%
After Tax Sold	1.11%	16.20%	9.35%	N/A	N/A	N/A	6.47%
Market Price	1.96%	27.50%	16.26%	N/A	N/A	N/A	8.81%

Index Performance **
The Lunt Capital Large Cap Factor Rotation Index	2.08%	28.32%	16.71%	N/A	N/A	N/A	9.53%
Nasdaq US 500 Large Cap Index	7.74%	28.25%	16.61%	N/A	N/A	N/A	10.01%

Quarter End Performance (as of 9/30/2019)

	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁸
Fund Performance *
Net Asset Value (NAV)	0.79%	24.14%	6.42%	N/A	N/A	N/A	7.65%
After Tax Held	0.65%	23.78%	5.89%	N/A	N/A	N/A	7.16%
After Tax Sold	0.47%	14.29%	3.77%	N/A	N/A	N/A	5.61%
Market Price	0.74%	24.19%	6.42%	N/A	N/A	N/A	7.70%

Index Performance **
The Lunt Capital Large Cap Factor Rotation Index	0.94%	24.86%	7.18%	N/A	N/A	N/A	8.42%
Nasdaq US 500 Large Cap Index	1.59%	21.03%	4.37%	N/A	N/A	N/A	6.18%

*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.

**Performance information for The Lunt Capital Large Cap Factor Rotation 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.

Nasdaq US 500 Large Cap Index - The Index is a float modified market capitalization weighted index that contains the top 500 securities from the NASDAQ US Benchmark Index.

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	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.
⁶	Index yield represents the weighted average trailing 12-month dividend of the constituents of The Lunt Capital Large Cap Factor Rotation Index.
⁷	All market capitalization numbers are in USD$ Millions.
⁸	Inception Date is 7/25/2018

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 Cboe BZX Exchange, Inc..

The fund's return may not match the return of The Lunt Capital Large Cap Factor Rotation 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 stocks in general may fall in value. There can be no assurance that the fund's investment objective will be achieved.

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

The fund is not actively managed and generally will not attempt to take defensive positions in declining markets.

Because of market movement, there can be no assurance that the securities held by the fund will stay within the given market capitalization range.

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

The fund's strategy may frequently involve buying and selling portfolio securities to rebalance the fund's exposure to the sub-indices, which may result in the fund paying higher levels of transaction costs and generating greater tax liabilities for shareholders.

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 cyber security.

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.

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.

The Index is the property of Lunt Capital Management, Inc., which has contracted with Nasdaq, Inc. to calculate and maintain the Index. The fund is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. or its affiliates (Nasdaq, with its affiliates, are referred to as the "Corporations"). The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the fund. The Corporations make no representation or warranty, express or implied to the owners of the fund or any member of the public regarding the advisability of investing in securities generally or in the fund particularly, or the ability of the index to track general stock performance.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value