First Trust Rising Dividend Achievers ETF (RDVY)

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	Fact Sheet
	Summary Prospectus
	Monthly Performance Report
	Investor Guide

Fund Summary

2019 Estimated Capital Gain Distributions
Certain First Trust Exchange-Traded Funds are expected to pay a short term and/or long-term capital gain distribution in December. For a list of exchange-traded funds expected to pay a capital gain distribution, please click here. 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 Fund seeks investment results that correspond generally to the price and yield (before the fees and expenses) of the NASDAQ US Rising Dividend Achievers Index (the "Index"). The Fund will normally invest at least 90% of its net assets (plus the amount of any borrowings for investment purposes) in securities that comprise the Index. The Index is composed of the securities of 50 companies with a history of raising their dividends and exhibit the characteristics to continue to do so in the future ("Index Securities"). The Index is designed to provide access to a diversified portfolio of large capitalization income producing securities.

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

The index begins with the stocks in the NASDAQ US Benchmark Index, and eliminates those companies classified as a Real Estate Investment Trust by the Industry Classification Benchmark. The largest 1000 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:
- paid a dividend in the trailing twelve-month period greater than the dividend paid in the trailing twelve-month period three and five years prior.
- positive earnings per share in the most recent fiscal year greater than the earnings per share three fiscal years prior.
- a cash to debt ratio greater than 50%.
- a trailing twelve-month period payout ratio no greater than 65%.
Eligible securities are ranked by a combined factor of dollar dividend increase over the previous five year period, current dividend yield, and payout ratio.
The 50 eligible securities with the lowest aggregated rank are selected for inclusion in the index, subject to a maximum of 30% from any one sector.
The index stocks are equally weighted initially and on each rebalancing effective date. The index is reconstituted annually and rebalanced quarterly.

Fund Overview

Ticker	RDVY
Fund Type	Equity Income
Investment Advisor	First Trust Advisors L.P.
Investor Servicing Agent	Brown Brothers Harriman
CUSIP	33738R506
ISIN	US33738R5063
Intraday NAV	RDVYIV
Fiscal Year-End	09/30
Exchange	Nasdaq
Inception	1/6/2014
Inception Price	$19.93
Inception NAV	$19.93
Rebalance Frequency	Quarterly
Expense Ratio	0.50%

Current Fund Data (as of 12/9/2019)

Closing NAV¹	$34.69
Closing Market Price²	$34.72
Bid/Ask Midpoint	$34.71
Bid/Ask Premium	0.05%
Total Net Assets	$1,049,338,549
Outstanding Shares	30,250,002
Daily Volume	284,615
Average 30-Day Daily Volume	254,701
Closing Market Price 52-Week High/Low	$34.89 / $24.76
Closing NAV 52-Week High/Low	$34.88 / $24.82
Number of Holdings (excluding cash)	49

Fund Characteristics (as of 11/29/2019)⁸

Maximum Market Cap.	$1,187,463
Median Market Cap.	$38,711
Minimum Market Cap.	$2,547
Price/Earnings	14.64
Price/Book	2.27
Price/Cash Flow	11.17
Price/Sales	1.11

Top Holdings (as of 12/9/2019)*

Holding	Percent
Skyworks Solutions, Inc.	2.43%
State Street Corporation	2.43%
Best Buy Co., Inc.	2.32%
NVIDIA Corporation	2.31%
Apple Inc.	2.30%
Bristol-Myers Squibb Company	2.28%
Amgen Inc.	2.22%
Vishay Intertechnology, Inc.	2.15%
Lam Research Corporation	2.14%
Louisiana-Pacific Corporation	2.14%

* 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 11/30/2019)³

Among 1,082 funds in the Large Value category. This fund was rated 5 stars/1,082 funds (3 years), 5 stars/944 funds (5 years) based on risk adjusted returns.

Distribution Information

Dividend per Share Amt (as of 12/10/2019)⁴	$0.1274
30-Day SEC Yield (as of 11/29/2019)⁵	1.26%
12-Month Distribution Rate (as of 11/29/2019)⁶	1.53%
Index Yield (as of 11/29/2019)⁷	2.10%

Bid/Ask Midpoint vs. NAV (as of 9/30/2019)

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
9/30/2019	54	0	0	0
6/30/2019	49	0	0	0
3/31/2019	49	0	0	0
12/31/2018	38	2	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
9/30/2019	10	0	0	0
6/30/2019	14	0	0	0
3/31/2019	12	0	0	0
12/31/2018	21	1	1	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 12/9/2019)

Financials	30.49%
Information Technology	27.10%
Health Care	10.56%
Consumer Discretionary	10.37%
Industrials	9.81%
Materials	4.12%
Communication Services	3.82%
Consumer Staples	2.03%
Energy	1.70%

Month End Performance (as of 11/29/2019)

	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁹
Fund Performance *
Net Asset Value (NAV)	14.25%	32.44%	18.82%	14.02%	11.64%	N/A	11.84%
After Tax Held	14.07%	31.80%	17.96%	13.32%	10.77%	N/A	10.99%
After Tax Sold	8.43%	19.16%	11.06%	10.62%	8.78%	N/A	9.03%
Market Price	14.32%	32.51%	19.05%	14.01%	11.64%	N/A	11.85%

Index Performance **
NASDAQ US Rising Dividend Achievers Index	14.41%	33.16%	19.47%	14.63%	12.23%	N/A	12.43%
Dow Jones U.S. Select Dividend™ Index	6.85%	19.72%	10.13%	9.95%	9.62%	N/A	10.77%

Quarter End Performance (as of 9/30/2019)

	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁹
Fund Performance *
Net Asset Value (NAV)	2.89%	21.38%	2.72%	14.56%	10.65%	N/A	10.51%
After Tax Held	2.72%	20.79%	1.97%	13.86%	9.79%	N/A	9.65%
After Tax Sold	1.71%	12.64%	1.57%	11.08%	7.99%	N/A	7.92%
Market Price	2.96%	21.41%	2.68%	14.57%	10.66%	N/A	10.51%

Index Performance **
NASDAQ US Rising Dividend Achievers Index	3.04%	21.94%	3.26%	15.18%	11.24%	N/A	11.09%
Dow Jones U.S. Select Dividend™ Index	3.58%	17.71%	6.31%	10.00%	10.71%	N/A	10.77%

3-Year Statistics (as of 11/29/2019)

	Standard Deviation	Alpha	Beta	Sharpe Ratio	Correlation
RDVY	15.37%	1.63	1.31	0.82	0.92
Dow Jones U.S. Select Dividend™ Index	10.80%	---	1.00	0.78	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.

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 US Rising Dividend Achievers 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.

Dow Jones U.S. Select Dividend™ Index - The Index consists of 100 widely-traded, dividend-paying stocks derived from the Dow Jones U.S.Total Market Index^SM.

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	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 US Rising Dividend Achievers Index.
⁸	All market capitalization numbers are in USD$ Millions.
⁹	Inception Date is 1/6/2014

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 NASDAQ US Rising Dividend Achievers 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 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.

The fund may invest in securities issued by companies concentrated in a particular sector which involves additional risks including limited diversification. The fund may invest in small capitalization and 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. The fund may invest in depositary receipts which may be less liquid than the underlying shares in their primary trading market. There is no guarantee that any issuer will declare dividends in the future, or that, if declared, they will remain at current levels or increase over time.

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 NASDAQ US Rising Dividend Achievers Index^SM are registered trademarks and service marks of Nasdaq, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by First Trust Advisors L.P. 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.

©2019 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