First Trust Materials AlphaDEX® Fund (FXZ)

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Fund Summary

Investment Objective/Strategy - The First Trust Materials 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 fees and expenses, of an equity index called the StrataQuant® Materials Index.

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

Index Description According to the Index Provider

The StrataQuant^® Materials Index is an "enhanced" index developed, maintained and sponsored by ICE Data Indices, LLC or its affiliates ("IDI") which employs the AlphaDEX^® stock selection methodology to select stocks from the Russell 1000^® Index.
IDI constructs the StrataQuant^® Materials Index by ranking the stocks which are members of the Russell 1000^® Index on growth factors including three, six 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.
Each stock receives either its growth or value score rank as its selection score based on its style designation as determined by Russell. Stocks which Russell allocates between both growth and value receive the better of their growth or value score rank as their selection score.
IDI then ranks those stocks contained in the materials sector according to their score. The greater of the top 75% of the eligible u