First Trust India NIFTY 50 Equal Weight ETF (NFTY)

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Fund Summary

2018 Estimated Capital Gain Distributions
Certain First Trust Exchange-Traded Funds are expected to pay a long-term capital gain distribution in December. For a list of exchange-traded funds expected to pay a long-term capital gain distribution, please click here. Short-term capital gain distributions, if any, are expected to be nominal and are taxed like ordinary income. 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 India NIFTY 50 Equal Weight ETF (the "Fund"), formerly First Trust Taiwan AlphaDEX® 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 NIFTY 50 Equal Weight 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.

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

The NIFTY 50 Equal Weight Index is an equally weighted index that consists of the same companies as the NIFTY 50 Index, an index that tracks the performance of the 50 largest and most liquid Indian securities listed on the National Stock Exchange of India.
The NIFTY 50 Equal Weight Index gives equal exposure to all 50 constituents. The same weight, or importance, is given to each stock in the index, allowing for the performance of smaller companies to contribute as much as the larger companies within the index.
To maintain the equal weight focus, the index is rebalanced quarterly and reconstituted semi-annually.

Fund Overview

Ticker	NFTY
Fund Type	India Equity
Investment Advisor	First Trust Advisors L.P.
Investor Servicing Agent	Brown Brothers Harriman
CUSIP	33737J802
ISIN	US33737J8027
Intraday NAV	NFTYIV
Fiscal Year-End	12/31
Exchange	Nasdaq
Inception	2/14/2012
Inception Price	$30.00
Inception NAV	$30.00
Rebalance Frequency	Quarterly
Expense Ratio	0.80%

Current Fund Data (as of 11/19/2018)

Closing NAV¹	$34.20
Closing Share Price²	$34.34
Bid/Ask Midpoint	$34.45
Bid/Ask Premium	0.74%
Total Net Assets	$3,419,618
Outstanding Shares	100,002
Daily Volume	251
Average 30-Day Daily Volume	196
Closing Share Price 52-Week High/Low	$39.68 / $31.35
Closing NAV 52-Week High/Low	$39.47 / $31.19
Number of Holdings	50

Fund Characteristics (as of 10/31/2018)⁷

Maximum Market Cap.	$98,273
Median Market Cap.	$12,304
Minimum Market Cap.	$4,615
Price/Earnings	15.95
Price/Book	2.36
Price/Cash Flow	10.84
Price/Sales	1.21

Top Holdings (as of 11/19/2018)

Holding	Percent
UPL Ltd.	2.46%
ICICI Bank Limited	2.42%
Titan Company Limited	2.42%
Larsen & Toubro Ltd.	2.25%
State Bank of India	2.24%
Hindustan Unilever Limited	2.22%
Axis Bank Limited	2.18%
Housing Development Finance Corporation Ltd. (HDFC)	2.17%
HDFC Bank Limited	2.16%
Asian Paints Limited	2.14%

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 11/20/2018)³	$0.5415
30-Day SEC Yield (as of 10/31/2018)⁴	0.77%
12-Month Distribution Rate (as of 10/31/2018)⁵	1.69%
Index Yield (as of 10/31/2018)⁶	1.84%

Bid/Ask Midpoint vs. NAV (as of 9/30/2018)

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
9/30/2018	26	21	6	2
6/30/2018	13	8	5	0
3/31/2018	9	4	1	2
12/31/2017	6	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
9/30/2018	7	0	1	0
6/30/2018	24	11	3	0
3/31/2018	27	16	2	0
12/31/2017	23	31	3	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 11/19/2018)

Financials	22.67%
Materials	16.16%
Consumer Discretionary	13.60%
Energy	11.61%
Information Technology	10.08%
Communication Services	6.00%
Utilities	5.76%
Health Care	5.59%
Industrials	4.31%
Consumer Staples	4.22%

Month End Performance (as of 10/31/2018)

	3 Mos	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁸
Fund Performance *
Net Asset Value (NAV)	-15.29%	-11.70%	-11.69%	3.46%	2.86%	N/A	3.42%
After Tax Held	-15.29%	-11.70%	-12.26%	2.41%	1.83%	N/A	2.40%
After Tax Sold	-8.65%	-6.62%	-6.58%	2.19%	1.73%	N/A	2.19%
Market Price	-16.00%	-11.04%	-11.76%	3.66%	2.96%	N/A	3.42%

Index Performance **
NIFTY 50 Equal Weight	-15.80%	-20.95%	-19.63%	N/A	N/A	N/A	N/A
MSCI Taiwan Index	-10.62%	-6.96%	-8.98%	10.49%	6.29%	N/A	6.58%
NASDAQ AlphaDEX® Taiwan Index	-14.80%	-2.09%	-1.91%	7.93%	N/A	N/A	N/A
NASDAQ Taiwan Index	-11.32%	-7.48%	-8.49%	10.67%	5.82%	N/A	N/A
NIFTY 50 Index	-14.76%	-13.30%	-10.57%	5.70%	7.81%	N/A	5.07%

Quarter End Performance (as of 9/28/2018)

	3 Mos	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁸
Fund Performance *
Net Asset Value (NAV)	-5.38%	-5.04%	-2.00%	7.00%	4.77%	N/A	4.60%
After Tax Held	-5.38%	-5.04%	-2.63%	5.92%	3.72%	N/A	3.56%
After Tax Sold	-3.04%	-2.85%	-1.12%	4.91%	3.19%	N/A	3.09%
Market Price	-5.22%	-3.86%	-1.04%	7.62%	4.97%	N/A	4.69%

Index Performance **
NIFTY 50 Equal Weight	-5.59%	-15.09%	-7.39%	N/A	N/A	N/A	N/A
MSCI Taiwan Index	6.54%	5.49%	9.74%	17.31%	9.94%	N/A	8.70%
NASDAQ AlphaDEX® Taiwan Index	1.11%	12.32%	16.19%	14.41%	N/A	N/A	N/A
NASDAQ Taiwan Index	5.28%	5.04%	9.90%	17.68%	9.42%	N/A	N/A
NIFTY 50 Index	-2.65%	-7.05%	1.97%	9.03%	11.90%	N/A	6.25%

*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 NIFTY 50 Equal Weight 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 April 17, 2018, the fund's underlying index changed from the NASDAQ AlphaDEX® Taiwan Index to the NIFTY 50 Equal Weight Index. On July 14, 2015, the fund's underlying index changed from the Defined Taiwan Index to the NASDAQ AlphaDEX® Taiwan Index. 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.

MSCI Taiwan Index - The Index measures the performance of Taiwan's equity market.

NASDAQ AlphaDEX® Taiwan Index - The Index is an enhanced index which selects stocks from the NASDAQ Taiwan Index and uses the AlphaDEX® stock selection methodology to screen, weight and rebalance its holdings based onfundamental growth and value factors.

NASDAQ Taiwan Index - The Index is a float adjusted market capitalization-weighted index designed to track the performance of securities assigned to Taiwan.

NIFTY 50 Index - The Index tracks the performance of the 50 largest and most liquid Indian securities listed on the National Stock Exchange of India.

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 share 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 NIFTY 50 Equal Weight.
⁷	All market capitalization numbers are in USD$ Millions.
⁸	Inception Date is 2/14/2012

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 NIFTY 50 Equal Weight. 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.

Equity securities prices fluctuate for several reasons, including changes in investors' perceptions of the financial condition of an issuer or the general condition of the relevant stock market, such as market volatility, or when political or economic events affecting the issuers occur.

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 may invest in small or mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.

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. These risks may be heightened for securities of companies located in, or with significant operations in, emerging market countries. The fund may invest in depositary receipts which may be less liquid than the underlying shares in their primary trading market.

Indian companies are subject to certain risks, including greater price volatility, substantially less liquidity and significantly smaller market capitalization of securities markets, more substantial governmental involvement in the economy, higher rates of inflation, and greater political, economic and social uncertainty. Government controls have been reduced on imports and foreign investment, and privatization of domestic output has proceeded slowly. Rapid economic growth has put heavy stress on India’s infrastructural facilities. Furthermore, businesses still have to deal with an inefficient and sometimes slow-moving bureaucracy.

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 fund will be subject to tax in India on the purchase and sale of Indian securities held by the fund, which will reduce the fund's returns.

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.

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 may, under certain circumstances, effect a significant portion of creations and redemptions for cash, rather than in-kind securities. As a result, the fund may be less tax-efficient.

The fund is registered in India as a Foreign Portfolio Investor ("FPI") with the Securities and Exchange Board of India ("SEBI"). Investment by FPIs in Indian securities are subject to certain limits and restrictions under the applicable law which could adversely impact the ability of the fund to make investments in India.

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 First Trust India NIFTY 50 Equal Weight ETF is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited ("IISL"). IISL does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of the fund or any member of the public regarding the advisability of investing in securities generally or in the fund linked to the NIFTY 50 Equal Weight Index or particularly in the ability of the NIFTY 50 Equal Weight Index to track general stock market performance in India.

"AlphaDEX^®" is a registered trademark of First Trust Portfolios L.P. First Trust Portfolios L.P. has obtained a patent for the AlphaDEX^® stock selection methodology from the United States Patent and Trademark Office.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value