First Trust Cloud Computing ETF (SKYY)

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	Fact Sheet
	Summary Prospectus
	Monthly Performance Report

Fund Summary

Investment Objective/Strategy - The First Trust Cloud Computing ETF 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 the Fund's fees and expenses, of an equity index called the ISE Cloud Computing Index.

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 companies actively involved in the cloud computing industry. To be included in the index, a security must be engaged in a business activity supporting or utilizing the cloud computing space, listed on an index-eligible global stock exchange and have a market capitalization of at least $100 million.
All securities are then classified according to the following three business segments:
- Pure Play Cloud Computing Companies: Companies that are direct service providers for "the cloud" (network hardware/software, storage, cloud computing services) or companies that deliver goods and services that utilize cloud computing technology.
- Non Pure Play Cloud Computing Companies: Companies that focus outside the cloud computing space but provide goods and services in support of the cloud computing space.
- Technology Conglomerate Cloud Computing Companies: Large broad-based companies that indirectly utilize or support the use of cloud computing technology.
The overall weight for each of the three business segments is calculated as follows:
- 10% of the index weight is allocated to technology conglomerate companies.
- The index weight that is allocated to non pure play companies is calculated by dividing the non pure play companies' market capitalization by the sum of the pure play and non pure play market capitalizations.
- The remainder of the index weight is allocated to pure play companies.
Stocks are equally weighted within each of the three classifications.
The index is reconstituted and rebalanced semi-annually.

Fund Overview

Ticker	SKYY
Fund Type	Technology
Investment Advisor	First Trust Advisors L.P.
Investor Servicing Agent	Bank of New York Mellon
CUSIP	33734X192
ISIN	US33734X1928
Intraday NAV	SKYYIV
Fiscal Year-End	09/30
Exchange	Nasdaq
Inception	7/5/2011
Inception Price	$20.16
Inception NAV	$20.16
Rebalance Frequency	Semi-Annual
Expense Ratio	0.60%

Current Fund Data (as of 2/21/2019)

Closing NAV¹	$55.83
Closing Market Price²	$55.86
Bid/Ask Midpoint	$55.84
Bid/Ask Premium	0.01%
Total Net Assets	$1,996,099,798
Outstanding Shares	35,750,002
Daily Volume	169,596
Average 30-Day Daily Volume	277,155
Closing Market Price 52-Week High/Low	$56.87 / $45.37
Closing NAV 52-Week High/Low	$56.84 / $45.35
Number of Holdings	28

Fund Characteristics (as of 1/31/2019)⁸

Maximum Market Cap.	$843,896
Median Market Cap.	$46,030
Minimum Market Cap.	$2,015
Price/Earnings	38.87
Price/Book	4.31
Price/Cash Flow	23.84
Price/Sales	3.64

Top Holdings (as of 2/21/2019)

Holding	Percent
Zynga Inc.	5.99%
Netflix, Inc.	5.45%
Teradata Corporation	5.40%
VMware, Inc.	5.34%
Equinix, Inc.	4.83%
salesforce.com, inc.	4.73%
Oracle Corporation	4.67%
Facebook, Inc. (Class A)	4.64%
Open Text Corporation	4.62%
Cisco Systems, Inc.	4.51%

Holdings are subject to change.

NAV History (Since Inception)

Past performance is not indicative of future results.

Overall Morningstar Rating^TM (as of 1/31/2019)³

Among 183 funds in the Technology category. This fund was rated 5 stars/183 funds (3 years), 3 stars/174 funds (5 years).

Distribution Information

Dividend per Share Amt (as of 2/22/2019)⁴	$0.0436
30-Day SEC Yield (as of 1/31/2019)⁵	0.43%
12-Month Distribution Rate (as of 1/31/2019)⁶	0.34%
Index Yield (as of 1/31/2019)⁷	1.84%

Bid/Ask Midpoint vs. NAV (as of 12/31/2018)

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
12/31/2018	31	5	0	0
9/30/2018	45	0	0	0
6/30/2018	38	0	0	0
3/31/2018	41	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
12/31/2018	21	4	2	0
9/30/2018	18	0	0	0
6/30/2018	26	0	0	0
3/31/2018	20	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 2/21/2019)

Software	37.44%
Communications Equipment	14.40%
Entertainment	12.61%
Technology Hardware, Storage & Peripherals	9.05%
Interactive Media & Services	9.04%
IT Services	8.39%
Equity Real Estate Investment Trusts (REITs)	4.86%
Internet & Direct Marketing Retail	4.21%

Month End Performance (as of 1/31/2019)

	3 Mos	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁹
Fund Performance *
Net Asset Value (NAV)	3.85%	11.11%	10.28%	25.77%	15.42%	N/A	14.12%
After Tax Held	3.58%	11.11%	9.87%	25.49%	15.21%	N/A	13.98%
After Tax Sold	2.27%	6.58%	6.07%	20.45%	12.34%	N/A	11.60%
Market Price	3.85%	10.60%	10.21%	25.84%	15.42%	N/A	14.13%

Index Performance **
ISE Cloud Computing™ Index	4.05%	10.64%	11.05%	26.22%	15.97%	N/A	14.72%
S&P Composite 1500 Information Technology Index	-3.43%	7.27%	-0.93%	20.88%	16.68%	N/A	15.72%
S&P 500 Index	0.26%	8.01%	-2.31%	14.02%	10.96%	N/A	12.07%

Quarter End Performance (as of 12/31/2018)

	3 Mos	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁹
Fund Performance *
Net Asset Value (NAV)	-14.35%	6.23%	6.23%	17.82%	13.22%	N/A	12.70%
After Tax Held	-14.58%	5.84%	5.84%	17.56%	13.01%	N/A	12.56%
After Tax Sold	-8.50%	3.70%	3.70%	13.94%	10.50%	N/A	10.36%
Market Price	-13.99%	6.64%	6.64%	18.10%	13.32%	N/A	12.77%

Index Performance **
ISE Cloud Computing™ Index	-13.78%	7.47%	7.47%	18.42%	13.86%	N/A	13.36%
S&P Composite 1500 Information Technology Index	-17.33%	-0.75%	-0.75%	16.08%	14.46%	N/A	14.83%
S&P 500 Index	-13.52%	-4.38%	-4.38%	9.26%	8.49%	N/A	11.06%

3-Year Statistics (as of 1/31/2019)

	Standard Deviation	Alpha	Beta	Sharpe Ratio	Correlation
SKYY	13.49%	10.54	0.98	1.70	0.81
S&P Composite 1500 Information Technology Index	14.95%	5.57	1.06	1.28	0.79
S&P 500 Index	11.18%	---	1.00	1.14	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 ISE Cloud Computing™ 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.

S&P Composite 1500 Information Technology Index - The Index is a capitalization-weighted index of companies classified by GICS as information technology within the S&P Composite 1500 Index.

S&P 500 Index - The Index is an unmanaged index of 500 stocks used to measure large-cap U.S. stock market performance.

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 ISE Cloud Computing(TM) Index.
⁸	All market capitalization numbers are in USD$ Millions.
⁹	Inception Date is 7/5/2011

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 ISE Cloud Computing™ 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 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.

The fund invests in information technology companies, which are subject to certain risks, including rapidly changing technologies, short product life cycles, fierce competition, aggressive pricing and reduced profit margins, loss of patent, copyright and trademark protections, cyclical market patterns, evolving industry standards and frequent new product introductions. Certain companies may be smaller and less experienced companies, with limited product lines, markets or financial resources. Information technology company stocks, especially those which are Internet related, have experienced extreme price and volume fluctuations that are often unrelated to their operating performance.

The risks related to investing in cloud computing companies include interruptions or delays in service, security breaches involving sensitive, proprietary and confidential information, privacy concerns and laws, and other regulations that may limit or otherwise affect the operations of such companies.

Changes in currency exchange rates and the relative value of non-US currencies may affect the value of a fund's investments and the value of a fund's shares.

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 Cloud Computing ETF is not sponsored, endorsed, sold or promoted by Nasdaq, Inc., or its affiliates (Nasdaq, with its affiliates, are referred to as the "Corporations"). The Corporations' only relationship to First Trust is in the licensing of Nasdaq, Inc. and certain trade names of the Corporations and the use of the ISE Index which is determined, composed and calculated by Nasdaq, Inc. without regard to First Trust or 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