First Trust Capital Strength ETF (FTCS)

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	Fact Sheet
	Summary Prospectus
	Monthly Performance Report
	Investor Guide

Fund Summary

Investment Objective/Strategy - The First Trust Capital Strength ETF seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called The Capital Strength Index^SM.

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

From the stocks in the NASDAQ US Benchmark Index, the largest 500 companies with a minimum three-month average daily dollar trading volume of $5 million are selected.
To be eligible for inclusion in the index, companies must have:
- at least $1 billion in cash or short term investments.
- a long term debt to market cap ratio less than 30%.
- a return on equity greater than 15%.
Eligible companies are then ranked by a combined short-term (90 days) and long-term (260 days) realized volatility.
The 50 companies with the lowest combined volatility score are selected for inclusion in the index.
A maximum weight of 30% in any one Industry Classification Benchmark industry is allowed. If an industry has a weight greater than 30%, the highest ranking security by volatility will be removed and replaced with the next eligible security from a different industry. This process is repeated until no industry has a weight greater than 30%.
The index stocks are equally weighted initially and on each rebalancing effective date. The index is reconstituted and rebalanced on a quarterly basis.

Fund Overview

Ticker	FTCS
Fund Type	Large Cap Core
Investment Advisor	First Trust Advisors L.P.
Investor Servicing Agent	Bank of New York Mellon
CUSIP	33733E104
ISIN	US33733E1047
Intraday NAV	FTCSIV
Fiscal Year-End	12/31
Exchange	Nasdaq
Inception	7/6/2006
Inception Price	$20.00
Inception NAV	$20.00
Rebalance Frequency	Quarterly
Gross Expense Ratio*	0.58%
Net Expense Ratio*	0.58%

* As of 5/1/2020

Expenses are capped contractually at 0.65% per year, at least until April 30, 2021.

Current Fund Data (as of 7/7/2020)

Closing NAV¹	$59.61
Closing Market Price²	$59.57
Bid/Ask Midpoint	$59.62
Bid/Ask Premium	0.02%
Total Net Assets	$5,293,155,648
Outstanding Shares	88,800,002
Daily Volume	361,230
Average 30-Day Daily Volume	494,419
Closing Market Price 52-Week High/Low	$63.33 / $43.11
Closing NAV 52-Week High/Low	$63.30 / $43.01
Number of Holdings (excluding cash)	50

Fund Characteristics (as of 6/30/2020)⁹

Maximum Market Cap.	$1,581,165
Median Market Cap.	$66,408
Minimum Market Cap.	$8,494
Price/Earnings	21.06
Price/Book	5.81
Price/Cash Flow	16.09
Price/Sales	2.80

Top Holdings (as of 7/7/2020)*

Holding	Percent
eBay Inc.	2.82%
Facebook, Inc. (Class A)	2.49%
Apple Inc.	2.44%
Amazon.com, Inc.	2.34%
Accenture Plc	2.29%
Garmin Ltd.	2.23%
Take-Two Interactive Software, Inc.	2.19%
Electronic Arts Inc.	2.17%
Alphabet Inc. (Class A)	2.16%
Netflix, Inc.	2.16%

* Excluding cash. Holdings are subject to change.

NAV History (Since Inception)

Past performance is not indicative of future results.

Overall Morningstar Rating^TM (as of 6/30/2020)³

Among 1,230 funds in the Large Blend category. This fund was rated 4 stars/1,230 funds (3 years), 5 stars/1,058 funds (5 years), 4 stars/806 funds (10 years) based on risk adjusted returns.

Distribution Information

Dividend per Share Amt (as of 7/8/2020)⁴	$0.1531
30-Day SEC Yield (as of 5/29/2020)⁵	0.84%
Unsubsidized 30-Day SEC Yield (as of 5/29/2020)⁶	0.84%
12-Month Distribution Rate (as of 5/29/2020)⁷	1.27%
Index Yield (as of 5/29/2020)⁸	1.46%

For funds with certain equity strategies, due to the negative economic impact across many industries caused by the recent COVID-19 outbreak, certain of the issuers of the securities included in the fund may elect to reduce the amount of dividends and/or distributions paid in the future. As a result, the "12-Month Distribution Rate," which is based on the fund's trailing 12-month ordinary distributions, will likely be higher, and in some cases significantly higher, than the actual 12-month distribution rate achieved by the fund.

Bid/Ask Midpoint vs. NAV (as of 6/30/2020)

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
6/30/2020	47	0	0	0
3/31/2020	42	0	0	0
12/31/2019	54	0	0	0
9/30/2019	57	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
6/30/2020	16	0	0	0
3/31/2020	20	0	0	0
12/31/2019	10	0	0	0
9/30/2019	7	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 7/7/2020)

Health Care	26.44%
Industrials	17.43%
Consumer Goods	16.29%
Consumer Services	14.97%
Technology	13.24%
Financials	7.53%
Basic Materials	4.10%

Month End Performance (as of 5/29/2020)

	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception¹⁰
Fund Performance *
Net Asset Value (NAV)	5.18%	-2.83%	11.68%	9.66%	10.06%	13.29%	9.64%
After Tax Held	5.05%	-2.95%	11.08%	9.09%	9.45%	12.56%	9.01%
After Tax Sold	3.06%	-1.69%	6.90%	7.24%	7.65%	10.72%	7.73%
Market Price	4.94%	-2.88%	11.57%	9.61%	10.03%	13.27%	9.63%

Index Performance **
The Capital Strength Index^SM	5.35%	-2.58%	12.39%	10.35%	10.78%	N/A	N/A
S&P 500 Index	3.59%	-4.97%	12.84%	10.23%	9.86%	13.15%	8.73%

Quarter End Performance (as of 3/31/2020)

	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception¹⁰
Fund Performance *
Net Asset Value (NAV)	-17.47%	-17.47%	-6.81%	5.73%	6.62%	10.48%	8.46%
After Tax Held	-17.57%	-17.57%	-7.31%	5.18%	6.02%	9.77%	7.83%
After Tax Sold	-10.34%	-10.34%	-4.00%	4.19%	4.90%	8.27%	6.69%
Market Price	-17.41%	-17.41%	-6.79%	5.74%	6.62%	10.49%	8.47%

Index Performance **
The Capital Strength Index^SM	-17.37%	-17.37%	-6.21%	6.39%	7.30%	N/A	N/A
S&P 500 Index	-19.60%	-19.60%	-6.98%	5.10%	6.73%	10.53%	7.52%

3-Year Statistics (as of 5/29/2020)

	Standard Deviation	Alpha	Beta	Sharpe Ratio	Correlation
FTCS	15.44%	0.18	0.90	0.55	0.98
S&P 500 Index	16.94%	---	1.00	0.55	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 Capital Strength Index^SM 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 June 4, 2013, the fund's underlying index changed from the Credit Suisse U.S. Value Index, Powered by HOLT^TM to The Capital Strength Index^SM. On June 18, 2010, the fund's underlying index changed from the Deutsche Bank CROCI® US+ Index^TM to the Credit Suisse U.S. Value Index, Powered by HOLT^TM. Therefore, the fund's performance and historical returns shown for the periods prior to these dates are not necessarily indicative of the performance that the fund, based on its current index, would have generated.

The fund no longer uses the S&P 500 Value Index as a comparative index for the fund as the Advisor has determined that this index is no longer representative of the fund's investment strategy and portfolio holdings. The S&P 500 Value Index will be represented in performance comparisons of the fund until May 1, 2018.

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	The Morningstar Rating^TM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
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	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.
⁷	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.
⁸	Index yield represents the weighted average trailing 12-month dividend of the constituents of The Capital Strength Index(SM).
⁹	All market capitalization numbers are in USD$ Millions.
¹⁰	Inception Date is 7/6/2006

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 Nasdaq Stock Market LLC.

The fund's return may not match the return of The Capital Strength Index^SM. 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 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.

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 The Capital Strength 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. 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.

©2020 Morningstar, Inc. All Rights Reserved. The Morningstar Rating^TM information contained herein: (1) is proprietary to Morningstar;(2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value