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First Trust Dorsey Wright International Focus 5 ETF (IFV)
Investment Objective/Strategy - This exchange-traded 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 Dorsey Wright International Focus Five Index.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The Dorsey Wright International Focus Five Index is designed to provide targeted exposure to five First Trust international ETFs that Dorsey, Wright & Associates, LLC (DWA) believes offer the greatest potential to outperform the other ETFs in the selection universe.
  • To construct the index, DWA begins with the universe of First Trust international ETFs, which includes country/region-based ETFs advised by First Trust Advisors L.P.
  • Using the DWA proprietary relative strength methodology, the ETFs are compared to each other to determine inclusion by measuring each ETF's price momentum relative to other ETFs in the universe.
  • Each ETF is given a score that allows DWA to objectively determine where it ranks relative to all other ETFs in the universe.
  • The relative strength analysis is conducted twice monthly. ETFs are replaced when they fall sufficiently out of favor, based on their relative strength, versus the other ETFs within the universe. The index is rebalanced so each position is equally weighted.
Fund Overview
Fund TypeInternational Rotation
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBrown Brothers Harriman
Fiscal Year-End09/30
Inception Price$20.09
Inception NAV$20.09
Rebalance FrequencyPeriodically
Fees And Expenses
Management Fees0.30%
Acquired Fund Fees and Expenses0.75%
Total Annual Expenses1.05%
Current Fund Data (as of 5/12/2021)
Closing NAV1$23.08
Closing Market Price2$23.16
Bid/Ask Midpoint$23.11
Bid/Ask Premium0.13%
30-Day Median Bid/Ask Spread30.50%
Total Net Assets$279,276,329
Outstanding Shares12,100,002
Daily Volume86,431
Average 30-Day Daily Volume40,379
Closing Market Price 52-Week High/Low$24.67 / $14.76
Closing NAV 52-Week High/Low$24.62 / $14.83
Number of Holdings (excluding cash)5
Top Holdings (as of 5/12/2021)*
Holding Percent
First Trust India NIFTY 50 Equal Weight ETF 21.14%
First Trust BICK Index Fund 19.74%
First Trust Germany AlphaDEX® Fund 19.72%
First Trust Switzerland AlphaDEX® Fund 19.70%
First Trust Chindia ETF 19.60%

* 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 5/13/2021)4$0.1087
30-Day SEC Yield (as of 4/30/2021)50.86%
12-Month Distribution Rate (as of 4/30/2021)61.28%
Index Yield (as of 4/30/2021)70.80%
For funds with certain equity strategies, due to the negative economic impact across many industries caused by the 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.
Fund Characteristics (as of 4/30/2021)9
Maximum Market Cap.$284
Median Market Cap.$109
Minimum Market Cap.$72
Top Country Exposure (as of 5/12/2021)
Country Percent
India 33.70%
Switzerland 19.72%
Germany 18.57%
China 14.25%
Other 4.61%
Brazil 4.44%
South Korea 3.35%
Luxembourg 1.17%
Hong Kong 0.12%
Isle of Man 0.07%
Bid/Ask Premium/Discount (as of 5/12/2021)
  2020 Q1 2021 Q2 2021 Q3 2021
Days Traded at Premium 87 35 15 ---
Days Traded at Discount 166 26 14 ---
Top Sector Exposure (as of 5/12/2021)
Consumer Discretionary 21.90%
Financials 17.17%
Materials 12.48%
Information Technology 9.94%
Health Care 8.98%
Industrials 8.37%
Communication Services 8.06%
Consumer Staples 3.81%
Real Estate 3.57%
Energy 3.07%
Utilities 2.65%
Hypothetical Growth of $10,000 Since Inception (as of 5/12/2021) *
Tracking Index: Dorsey Wright International Focus Five Index

Month End Performance (as of 4/30/2021)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) 4.03% 6.43% 58.96% 4.42% 8.26% N/A 3.99%
After Tax Held 4.03% 6.43% 57.94% 3.50% 7.45% N/A 3.30%
After Tax Sold 2.38% 3.81% 34.78% 2.94% 6.09% N/A 2.75%
Market Price 4.38% 6.41% 59.44% 4.43% 8.33% N/A 4.04%
Index Performance **
Dorsey Wright International Focus Five Index 4.11% 6.55% 59.50% 5.08% 8.80% N/A 4.45%
MSCI ACWI ex USA Index 6.31% 6.54% 42.98% 6.98% 9.83% N/A 5.09%
Quarter End Performance (as of 3/31/2021)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) 3.89% 3.89% 68.77% 3.29% 7.95% N/A 3.66%
After Tax Held 3.89% 3.89% 67.68% 2.38% 7.15% N/A 2.97%
After Tax Sold 2.31% 2.31% 40.60% 2.08% 5.85% N/A 2.50%
Market Price 3.66% 3.66% 68.67% 3.38% 7.97% N/A 3.68%
Index Performance **
Dorsey Wright International Focus Five Index 3.96% 3.96% 69.33% 3.93% 8.98% N/A 4.12%
MSCI ACWI ex USA Index 3.49% 3.49% 49.41% 6.56% 9.76% N/A 4.70%
3-Year Statistics (as of 4/30/2021)
  Standard Deviation Alpha Beta Sharpe Ratio Correlation
IFV 23.85% -2.97 1.28 0.24 0.95
MSCI ACWI ex USA Index 17.70% --- 1.00 0.38 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 Dorsey Wright International Focus Five 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.

MSCI ACWI ex USA Index - The Index captures large and mid and cap representation across 22 of 23 Developed Markets countries, excluding the United States, and 24 Emerging Markets countries.

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 Dorsey Wright International Focus Five 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 7/22/2014

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 Dorsey Wright International Focus Five 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 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 COVID-19 pandemic may last for an extended period of time, and will continue to impact the economy for the foreseeable future.

The ETFs in which the fund invests may invest in securities issued by companies concentrated in a particular country owhich involves additional risks including limited diversification.

The ETFs in which the fund invests may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.

The ETFs in which the fund invests invest in securities of non-U.S. issuers which 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. The ETFs in which the fund invests may invest in depositary receipts which may be less liquid than the underlying shares in their primary trading market.

The ETFs in which the fund invests may hold investments that are denominated in non-U.S. currencies, or in securities that provide exposure to such currencies, currency exchange rates or interest rates denominated in such currencies.

Changes in currency exchange rates and the relative value of non-U.S. currencies will affect the value of the fund's investment and the value of fund shares. The index employs a "momentum" style methodology that emphasizes selecting ETFs that have had higher recent price performance compared to other ETFs. Momentum can turn quickly and cause significant variation from other types of investments.

Pursuant to the methodology that the index employs, IFV may own a significant portion of the First Trust ETFs included in the index. Any such ETF may be removed from the index in the event that it does not comply with the eligibility requirements of the index. As a result, IFV may be forced to sell shares of certain First Trust ETFs at inopportune times or for prices other than at current market values or may elect not to sell such shares on the day that they are removed from the index, due to market conditions or otherwise. The risks of owning an ETF generally reflect the risks of owning the underlying securities, although lack of liquidity in an ETF could result in it being more volatile and ETFs have management fees that increase their costs.

The fund invests in securities of affiliated ETFs, which involves additional expenses that would not be present in a direct investment in such affiliated ETFs.

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 Dorsey Wright International Focus Five 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.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
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