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First Trust Total US Market AlphaDEX® ETF (TUSA)
Investment Objective/Strategy - The First Trust Total US Market AlphaDEX® ETF 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 AlphaDEX® Total US Market Index.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The NASDAQ AlphaDEX® Total US Market Index is an "enhanced" index created and administered by Nasdaq, Inc. ("Nasdaq") which employs the AlphaDEX® stock selection methodology to select stocks that meet certain criteria from three indices - the NASDAQ US Large Cap Index, the NASDAQ US Mid Cap Index and the NASDAQ US Small Cap Index.
  • Nasdaq constructs the NASDAQ AlphaDEX® Total US Market Index by ranking the eligible stocks within the three indices on growth factors including 3-, 6- and 12- month price appreciation, sales to price and one year sales growth, and separately on value factors including book value to price, cash flow to price and return on assets. All stocks are ranked within each size class (Large, Mid, or Small) on the sum of ranks for the growth factors and, separately, all stocks are ranked on the sum of ranks for the value factors. A stock must have data for all growth and/or value factors to receive a rank for that style.
  • Nasdaq classifies each stock as either a value stock or a growth stock and each stock receives its style rank from the previous step as its selection score.
  • The top 200 stocks from the NASDAQ US Large Cap Index (50% of the total portfolio), the top 400 stocks from the NASDAQ US Mid Cap Index (30% of the total portfolio) and the top 600 stocks from the NASDAQ US Small Cap Index (20% of the total portfolio) based on the selection score determined in the previous step comprise the "selected stocks".
  • The selected stocks are divided into quintiles within their size class based on their rankings and the top ranked quintiles receive a higher weight within each sub-portfolio (Large, Mid, and Small). Within each sub-portfolio, stocks are equally weighted within each quintile.
  • The index is reconstituted and rebalanced quarterly.
Fund Overview
TickerTUSA
Fund TypeGrowth
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon
CUSIP33733E708
ISINUS33733E7085
Intraday NAVTUSAIV
Fiscal Year-End12/31
ExchangeNasdaq
Inception12/5/2006
Inception Price$20.00
Inception NAV$20.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*1.57%
Net Expense Ratio*0.70%
* As of 5/1/2019
Expenses are capped contractually at 0.70% per year, at least until April 30, 2020.
Current Fund Data (as of 1/17/2020)
Closing NAV1$36.82
Closing Market Price2$36.79
Bid/Ask Midpoint$36.78
Bid/Ask Discount0.11%
Total Net Assets$16,567,218
Outstanding Shares450,002
Daily Volume547
Average 30-Day Daily Volume1,673
Closing Market Price 52-Week High/Low$36.79 / $31.34
Closing NAV 52-Week High/Low$36.82 / $31.40
Number of Holdings (excluding cash)1200
Fund Characteristics (as of 12/31/2019)8
Maximum Market Cap.$922,946
Median Market Cap.$3,924
Minimum Market Cap.$342
Price/Earnings15.65
Price/Book2.01
Price/Cash Flow9.40
Price/Sales1.19
Top Holdings (as of 1/16/2020)*
Holding Percent
Tesla, Inc. 0.50%
Lennar Corporation 0.46%
Fortinet, Inc. 0.45%
Paycom Software, Inc. 0.45%
DexCom, Inc. 0.44%
Micron Technology, Inc. 0.44%
Splunk Inc. 0.44%
Charter Communications, Inc. 0.43%
D.R. Horton, Inc. 0.43%
Delta Air Lines, Inc. 0.43%

* 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 1/19/2020)3$0.1226
30-Day SEC Yield (as of 12/31/2019)41.17%
Unsubsidized 30-Day SEC Yield (as of 12/31/2019)51.17%
12-Month Distribution Rate (as of 12/31/2019)61.13%
Index Yield (as of 12/31/2019)71.62%
Bid/Ask Midpoint vs. NAV (as of 12/31/2019)
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
12/31/2019 6 0 0 0
9/30/2019 21 0 0 0
6/30/2019 22 0 0 0
3/31/2019 37 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
12/31/2019 57 0 0 1
9/30/2019 43 0 0 0
6/30/2019 41 0 0 0
3/31/2019 24 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 1/16/2020)
Financials 18.60%
Industrials 15.35%
Information Technology 14.67%
Consumer Discretionary 13.11%
Health Care 9.74%
Communication Services 6.37%
Energy 5.96%
Materials 5.23%
Utilities 4.56%
Consumer Staples 3.30%
Real Estate 3.11%
Month 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) 8.20% 25.36% 25.36% 10.42% 7.88% 9.03% 5.94%
After Tax Held 8.05% 24.76% 24.76% 9.95% 7.40% 8.51% 5.44%
After Tax Sold 4.85% 15.00% 15.00% 7.89% 5.95% 7.11% 4.55%
Market Price 8.05% 25.27% 25.27% 10.32% 7.85% 9.01% 5.94%
Index Performance **
NASDAQ AlphaDEX® Total US Market Index 8.37% 26.34% 26.34% 11.21% 8.73% N/A N/A
Russell 3000® Index 9.10% 31.02% 31.02% 14.57% 11.24% 13.42% 8.72%
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) 8.20% 25.36% 25.36% 10.42% 7.88% 9.03% 5.94%
After Tax Held 8.05% 24.76% 24.76% 9.95% 7.40% 8.51% 5.44%
After Tax Sold 4.85% 15.00% 15.00% 7.89% 5.95% 7.11% 4.55%
Market Price 8.05% 25.27% 25.27% 10.32% 7.85% 9.01% 5.94%
Index Performance **
NASDAQ AlphaDEX® Total US Market Index 8.37% 26.34% 26.34% 11.21% 8.73% N/A N/A
Russell 3000® Index 9.10% 31.02% 31.02% 14.57% 11.24% 13.42% 8.72%
3-Year Statistics (as of 12/31/2019)
  Standard Deviation Alpha Beta Sharpe Ratio Correlation
TUSA 14.67% -5.48 1.16 0.63 0.98
Russell 3000® Index 12.38% --- 1.00 1.03 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 AlphaDEX® Total US Market 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.

On January 9, 2015, the fund's underlying index changed from the Value Line® Equity Allocation Index to the NASDAQ AlphaDEX® Total US Market Index. Therefore, the fund's performance and historical returns shown for the periods prior to this date are not necessarily indicative of the performance that the fund, based on its current index, would have generated.

Russell 3000® Index - The Index is comprised of the 3000 largest and most liquid stocks based and traded in the U.S.
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 AlphaDEX® Total US Market Index.
8 All market capitalization numbers are in USD$ Millions.
9 Inception Date is 12/5/2006

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 AlphaDEX® Total US Market 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.

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 AlphaDEX® Total US Market 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. AlphaDEX® is a registered trademark owned by First Trust that has been licensed to Nasdaq, Inc. for use in the name of the Index. 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 advisors 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.
First Trust Advisors L.P.
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