First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund (FFR)

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	Fact Sheet
	Summary Prospectus
	Monthly Performance Report

Fund Summary

Investment Objective/Strategy - First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index 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 fees and expenses, of an equity index called the FTSE EPRA/NAREIT Developed Index.

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

The Index is designed to measure the stock performance of companies engaged in specific real estate activities of the North American, European and Asian real estate markets. Relevant real estate activities are defined as the ownership, trading and development of income-producing real estate.
The constituents of the Index are required to meet individual geographic criteria and are subject to size, liquidity, and free float screens.
The Index is a modified market capitalization weighted index, based on free float market capitalization. The Index is rebalanced and reconstituted quarterly.

Fund Overview

Ticker	FFR
Fund Type	Global REIT
Investment Advisor	First Trust Advisors L.P.
Investor Servicing Agent	Bank of New York Mellon
CUSIP	33736N101
ISIN	US33736N1019
Intraday NAV	FFRIV
Fiscal Year-End	09/30
Exchange	NYSE Arca
Inception	8/27/2007
Inception Price	$50.00
Inception NAV	$50.00
Rebalance Frequency	Quarterly
Gross Expense Ratio*	0.85%
Net Expense Ratio*	0.60%

* As of 2/1/2019

Expenses are capped contractually at 0.60% per year, at least until January 31, 2020.

Current Fund Data (as of 1/24/2020)

Closing NAV¹	$49.64
Closing Market Price²	$49.54
Bid/Ask Midpoint	$49.45
Bid/Ask Discount	0.39%
Total Net Assets	$59,153,150
Outstanding Shares	1,191,608
Daily Volume	6,868
Average 30-Day Daily Volume	5,394
Closing Market Price 52-Week High/Low	$50.84 / $45.28
Closing NAV 52-Week High/Low	$50.74 / $45.46
Number of Holdings (excluding cash)	337

Fund Characteristics (as of 12/31/2019)⁸

Maximum Market Cap.	$56,314
Median Market Cap.	$3,171
Minimum Market Cap.	$409
Price/Earnings	18.78
Price/Book	1.50
Price/Cash Flow	13.10
Price/Sales	6.61

Top Holdings (as of 1/24/2020)*

Holding	Percent
Prologis, Inc.	3.51%
Simon Property Group, Inc.	2.59%
Welltower Inc.	2.05%
Public Storage	1.93%
Vonovia SE	1.78%
AvalonBay Communities, Inc.	1.77%
Equity Residential	1.76%
Digital Realty Trust, Inc.	1.55%
Realty Income Corporation	1.46%
Mitsui Fudosan Company, Ltd.	1.39%

* Excluding cash. Holdings are subject to change.

Top Country Exposure (as of 1/24/2020)

Country	Percent
United States	54.76%
Japan	11.71%
Hong Kong	5.90%
United Kingdom	4.70%
Germany	3.96%
Australia	3.65%
Singapore	3.07%
Canada	2.97%
France	2.72%
Sweden	2.03%

NAV History (Since Inception)

Past performance is not indicative of future results.

Distribution Information

Dividend per Share Amt (as of 1/26/2020)³	$1.6227
30-Day SEC Yield (as of 12/31/2019)⁴	3.14%
Unsubsidized 30-Day SEC Yield (as of 12/31/2019)⁵	2.87%
12-Month Distribution Rate (as of 12/31/2019)⁶	4.95%
Index Yield (as of 12/31/2019)⁷	3.81%

Bid/Ask Midpoint vs. NAV (as of 12/31/2019)

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
12/31/2019	32	2	0	0
9/30/2019	30	0	0	0
6/30/2019	28	0	0	0
3/31/2019	24	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
12/31/2019	30	0	0	0
9/30/2019	34	0	0	0
6/30/2019	35	0	0	0
3/31/2019	37	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 Sub-Industry Exposure (as of 1/24/2020)

Diversified REITs	23.07%
Retail REITs	16.86%
Residential REITs	16.76%
Office REITs	12.84%
Industrial REITs	10.28%
Healthcare REITs	8.12%
Self Storage REITs	3.80%
Lodging/Resorts REITs	2.91%
Data Centers REITs	2.28%
Specialty REITs	1.59%

Month End Performance (as of 12/31/2019)

	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁹
Fund Performance *
Net Asset Value (NAV)	1.70%	21.82%	21.82%	8.52%	5.80%	8.43%	3.43%
After Tax Held	0.37%	19.43%	19.43%	6.86%	4.30%	6.98%	2.01%
After Tax Sold	1.01%	12.90%	12.90%	5.83%	3.78%	6.09%	1.95%
Market Price	1.30%	21.94%	21.94%	8.66%	5.73%	8.45%	3.42%

Index Performance **
FTSE EPRA/NAREIT Developed Index	1.96%	23.06%	23.06%	9.31%	6.53%	9.25%	4.29%
MSCI World REIT Index	-0.01%	26.07%	26.07%	9.70%	6.97%	9.85%	3.99%
S&P Global REIT Index	0.80%	23.12%	23.12%	7.56%	5.56%	9.31%	3.99%

Quarter End Performance (as of 12/31/2019)

	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁹
Fund Performance *
Net Asset Value (NAV)	1.70%	21.82%	21.82%	8.52%	5.80%	8.43%	3.43%
After Tax Held	0.37%	19.43%	19.43%	6.86%	4.30%	6.98%	2.01%
After Tax Sold	1.01%	12.90%	12.90%	5.83%	3.78%	6.09%	1.95%
Market Price	1.30%	21.94%	21.94%	8.66%	5.73%	8.45%	3.42%

Index Performance **
FTSE EPRA/NAREIT Developed Index	1.96%	23.06%	23.06%	9.31%	6.53%	9.25%	4.29%
MSCI World REIT Index	-0.01%	26.07%	26.07%	9.70%	6.97%	9.85%	3.99%
S&P Global REIT Index	0.80%	23.12%	23.12%	7.56%	5.56%	9.31%	3.99%

3-Year Statistics (as of 12/31/2019)

	Standard Deviation	Alpha	Beta	Sharpe Ratio	Correlation
FFR	9.82%	-0.47	0.92	0.71	0.96
MSCI World REIT Index	10.26%	---	1.00	0.79	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 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. The fund's performance reflects fee waivers and expense reimbursements, absent which performance would have been lower.

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 FTSE EPRA/NAREIT Developed 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.

FTSE EPRA/NAREIT Developed Index - The Index is designed to track the performance of listed real estate companies and REITS worldwide.

MSCI World REIT Index - The Index is a free float-adjusted market capitalization-weighted index that is designed to measure the real estate investment trusts from 23 developed markets around the world.

S&P Global REIT Index - The Index defines and measures the investable universe of publicly traded real estate investment trusts with constituents from 13 countries.

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	The unsubsidized 30-day SEC yield is calculated the same as the 30-day SEC yield, however it excludes contractual fee waivers and expense reimbursements.
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 FTSE EPRA/NAREIT Developed Index.
⁸	All market capitalization numbers are in USD$ Millions.
⁹	Inception Date is 8/27/2007

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.

The fund's return may not match the return of the FTSE EPRA/NAREIT Developed 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 stock 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.

An investment in a fund containing securities of non-U.S. issuers is 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. The fund may invest in depositary receipts which may be less liquid than the underlying shares in their primary trading market.

The fund is subject to the risks associated with investing in real estate and real estate investment trusts (REITs), which include fluctuations in the value of underlying properties, defaults by borrowers or tenants, market saturation, changes in general and local economic conditions, decreases in market rates for rents, increases in competition, property taxes, capital expenditures or operating expenses, dependency upon management skills, limited diversification, and other economic, political or regulatory occurrences. Increases in interest rates typically lower the present value of a REIT's future earnings stream, and may make financing property purchases and improvements more costly.

The value of the fund will generally decline when investors in REIT stocks anticipate or experience rising interest rates.

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.

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.

Source: London Stock Exchange Group plc and its group undertakings, including FTSE International Limited (collectively, the “LSE Group”), European Public Real Estate Association ("EPRA”), and the National Association of Real Estate Investments Trusts (“Nareit”) (and together the “Licensor Parties”). © LSE Group 2020. FTSE Russell is a trading name of certain LSE Group companies. “FTSE®” and “Russell®” are a trade mark(s) of the relevant LSE Group companies and are used by any other LSE Group company under license. “Nareit®” is a trade mark of Nareit, "EPRA®" is a trade mark of EPRA and all are used by the LSE Group under license. All rights in the FTSE EPRA/NAREIT Developed Index or data vest in the Licensor Parties. The Licensor Parties do not accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The Licensor Parties do not promote, sponsor or endorse the content of this communication.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value