First Trust NASDAQ® Clean Edge® Green Energy Index Fund (QCLN)

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	Fact Sheet
	Summary Prospectus
	Monthly Performance Report

Fund Summary

Investment Objective/Strategy - The First Trust NASDAQ® Clean Edge® Green Energy Index Fund is an exchange-traded index fund. The objective of the Fund is to seek investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an equity index called the NASDAQ® Clean Edge® Green Energy Index^SM.

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

The index is a modified market capitalization weighted index designed to track the performance of clean energy companies that are publicly traded in the United States and includes companies engaged in manufacturing, development, distribution and installation of emerging clean-energy technologies including, but not limited to, solar photovoltaics, biofuels and advanced batteries.
The NASDAQ^® Clean Edge^® Green Energy Index^SM is a modified market cap weighted index in which larger companies receive a larger index weighting. The index weighting methodology includes caps to prevent high concentrations among larger alternative energy stocks.
The index is reconstituted twice a year in March and September and rebalanced quarterly.

Fund Overview

Ticker	QCLN
Fund Type	Alternative Energy
Investment Advisor	First Trust Advisors L.P.
Investor Servicing Agent	Bank of New York Mellon
CUSIP	33733E500
ISIN	US33733E5006
Intraday NAV	QCLNIV
Fiscal Year-End	12/31
Exchange	Nasdaq
Inception	2/8/2007
Inception Price	$20.00
Inception NAV	$20.00
Rebalance Frequency	Quarterly
Gross Expense Ratio*	0.65%
Net Expense Ratio*	0.60%

* As of 5/1/2019

Expenses are capped contractually at 0.60% per year, at least until April 30, 2020.

Current Fund Data (as of 4/3/2020)

Closing NAV¹	$18.47
Closing Market Price²	$18.51
Bid/Ask Midpoint	$18.46
Bid/Ask Discount	0.06%
Total Net Assets	$134,798,608
Outstanding Shares	7,300,002
Daily Volume	55,228
Average 30-Day Daily Volume	142,931
Closing Market Price 52-Week High/Low	$31.11 / $17.10
Closing NAV 52-Week High/Low	$31.03 / $17.00
Number of Holdings (excluding cash)	40

Fund Characteristics (as of 3/31/2020)⁸

Maximum Market Cap.	$96,412
Median Market Cap.	$2,169
Minimum Market Cap.	$124
Price/Book	2.22
Price/Cash Flow	12.44
Price/Sales	1.82

Top Holdings (as of 4/2/2020)*

Holding	Percent
Tesla, Inc.	14.29%
Brookfield Renewable Partners LP	7.37%
Universal Display Corporation	5.88%
Albemarle Corporation	5.79%
ON Semiconductor Corporation	4.71%
SolarEdge Technologies, Inc.	3.95%
Cree, Inc.	3.87%
Enphase Energy, Inc.	3.87%
TerraForm Power, Inc. (Class A)	3.55%
Ormat Technologies, Inc.	3.43%

* 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 4/5/2020)³	$0.0538
30-Day SEC Yield (as of 2/28/2020)⁴	1.00%
Unsubsidized 30-Day SEC Yield (as of 2/28/2020)⁵	1.00%
12-Month Distribution Rate (as of 2/28/2020)⁶	0.80%
Index Yield (as of 2/28/2020)⁷	1.13%

Bid/Ask Midpoint vs. NAV (as of 3/31/2020)

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
3/31/2020	31	0	0	0
12/31/2019	50	0	0	0
9/30/2019	35	0	0	0
6/30/2019	39	0	0	1

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
3/31/2020	31	0	0	0
12/31/2019	14	0	0	0
9/30/2019	29	0	0	0
6/30/2019	23	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 4/2/2020)

Utilities	22.73%
Industrials	21.16%
Oil & Gas	18.46%
Consumer Goods	16.24%
Technology	13.02%
Basic Materials	7.15%
Financials	1.24%

Month End Performance (as of 2/28/2020)

	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁹
Fund Performance *
Net Asset Value (NAV)	15.07%	5.66%	27.36%	17.37%	8.39%	6.96%	2.67%
After Tax Held	15.01%	5.66%	26.85%	16.98%	7.98%	6.66%	2.45%
After Tax Sold	8.92%	3.35%	16.14%	13.48%	6.38%	5.45%	1.97%
Market Price	14.94%	5.50%	26.98%	17.31%	8.36%	6.98%	2.66%

Index Performance **
NASDAQ Clean Edge® Green Energy Index	15.05%	5.65%	27.33%	17.51%	8.36%	6.96%	2.83%
Russell 2000® Index	-8.80%	-11.36%	-4.92%	3.52%	5.12%	10.41%	6.10%

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)	16.65%	42.69%	42.69%	18.17%	8.61%	5.19%	2.27%
After Tax Held	16.59%	42.12%	42.12%	17.77%	8.20%	4.90%	2.04%
After Tax Sold	9.85%	25.23%	25.23%	14.13%	6.56%	3.97%	1.65%
Market Price	16.59%	43.01%	43.01%	18.14%	8.61%	5.20%	2.27%

Index Performance **
NASDAQ Clean Edge® Green Energy Index	16.61%	42.67%	42.67%	18.30%	8.58%	5.20%	2.43%
Russell 2000® Index	9.94%	25.52%	25.52%	8.59%	8.23%	11.83%	7.17%

3-Year Statistics (as of 2/28/2020)

	Standard Deviation	Alpha	Beta	Sharpe Ratio	Correlation
QCLN	17.14%	13.35	0.78	0.92	0.77
Russell 2000® Index	16.92%	---	1.00	0.18	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 NASDAQ Clean Edge® Green Energy 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.

Russell 2000® Index - The Index is comprised of the smallest 2000 companies in the Russell 3000 Index.

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 NASDAQ Clean Edge® Green Energy Index.
⁸	All market capitalization numbers are in USD$ Millions.
⁹	Inception Date is 2/8/2007

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 Nasdaq Stock Market LLC.

The fund's return may not match the return of the NASDAQ Clean Edge® Green Energy 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 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. The fund may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.

Renewable and alternative energy companies can be significantly affected by obsolescence of existing technology, short product cycles, legislation resulting in more strict government regulations and enforcement policies, fluctuations in energy prices and supply and demand of alternative energy fuels, energy conservation, the success of exploration projects, the supply of and demand for oil and gas, world events and economic conditions. Shares of clean energy companies have been significantly more volatile than shares of companies operating in other more established industries. This industry is relatively nascent and under-researched in comparison to more established and mature sectors.

The fund is classified as "non-diversified" and may invest a relatively high percentage of its assets in a limited number of issuers. As a result, the fund may be more susceptible to a single adverse economic or regulatory occurrence affecting one or more of these issuers, experience increased volatility and be highly concentrated in certain issuers.

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®, Clean Edge®, and NASDAQ® Clean Edge® Green Energy Index℠ are registered trademarks and service marks of Nasdaq, Inc. and Clean Edge, Inc., respectively (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