First Trust Total US Market AlphaDEX® ETF (TUSA)

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	Fact Sheet
	Summary Prospectus
	Monthly Performance Report

Fund Summary

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

Ticker	TUSA
Fund Type	Growth
Investment Advisor	First Trust Advisors L.P.
Investor Servicing Agent	Bank of New York Mellon
CUSIP	33733E708
ISIN	US33733E7085
Intraday NAV	TUSAIV
Fiscal Year-End	12/31
Exchange	Nasdaq
Inception	12/5/2006
Inception Price	$20.00
Inception NAV	$20.00
Rebalance Frequency	Quarterly
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 6/14/2019)

Closing NAV¹	$33.12
Closing Market Price²	$33.31
Bid/Ask Midpoint	$33.08
Bid/Ask Discount	0.13%
Total Net Assets	$16,560,793
Outstanding Shares	500,002
Daily Volume	143
Average 30-Day Daily Volume	3,829
Closing Market Price 52-Week High/Low	$36.45 / $28.10
Closing NAV 52-Week High/Low	$36.40 / $27.40
Number of Holdings	1201

Fund Characteristics (as of 5/31/2019)⁸

Maximum Market Cap.	$947,737
Median Market Cap.	$3,350
Minimum Market Cap.	$325
Price/Earnings	13.73
Price/Book	1.98
Price/Cash Flow	8.35
Price/Sales	1.08

Top Holdings (as of 6/14/2019)*

Holding	Percent
Veeva Systems Inc. (Class A)	0.54%
Ball Corporation	0.47%
PayPal Holdings, Inc.	0.47%
Starbucks Corporation	0.47%
TE Connectivity Ltd.	0.47%
AutoZone, Inc.	0.46%
D.R. Horton, Inc.	0.46%
Lennar Corporation	0.46%
ServiceNow, Inc.	0.46%
Cadence Design Systems, Inc.	0.45%

* Excluding cash and cash equivalents. 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 6/18/2019)³	$0.0787
30-Day SEC Yield (as of 5/31/2019)⁴	1.12%
Unsubsidized 30-Day SEC Yield (as of 5/31/2019)⁵	0.18%
12-Month Distribution Rate (as of 5/31/2019)⁶	1.12%
Index Yield (as of 5/31/2019)⁷	1.62%

Bid/Ask Midpoint vs. NAV (as of 3/31/2019)

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
3/31/2019	37	0	0	0
12/31/2018	41	2	0	0
9/30/2018	31	0	0	0
6/30/2018	44	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
3/31/2019	24	0	0	0
12/31/2018	18	1	1	0
9/30/2018	32	0	0	0
6/30/2018	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 6/14/2019)

Information Technology	18.89%
Consumer Discretionary	15.89%
Industrials	15.12%
Financials	14.03%
Health Care	8.39%
Energy	6.11%
Materials	5.60%
Communication Services	4.93%
Real Estate	4.70%
Consumer Staples	3.32%
Utilities	3.02%

Month End Performance (as of 5/31/2019)

	3 Mos	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁹
Fund Performance *
Net Asset Value (NAV)	-5.58%	8.54%	-6.28%	9.12%	4.86%	10.15%	5.01%
After Tax Held	-5.67%	8.43%	-6.70%	8.64%	4.39%	9.62%	4.52%
After Tax Sold	-3.30%	5.06%	-3.71%	6.86%	3.55%	8.10%	3.77%
Market Price	-5.60%	8.71%	-6.27%	9.24%	4.89%	10.16%	5.02%

Index Performance **
NASDAQ AlphaDEX® Total US Market Index	-5.40%	8.95%	-5.62%	9.93%	N/A	N/A	N/A
Russell 3000® Index	-1.32%	10.92%	2.50%	11.55%	9.25%	13.93%	7.70%

Quarter End Performance (as of 3/29/2019)

	3 Mos	YTD	1 Year	3 Year	5 Year	10 Year	Since Fund Inception⁹
Fund Performance *
Net Asset Value (NAV)	14.54%	14.54%	2.63%	11.83%	6.12%	12.38%	5.54%
After Tax Held	14.43%	14.43%	2.18%	11.33%	5.64%	11.84%	5.05%
After Tax Sold	8.61%	8.61%	1.55%	9.00%	4.54%	10.06%	4.20%
Market Price	14.55%	14.55%	2.60%	11.83%	6.11%	12.41%	5.54%

Index Performance **
NASDAQ AlphaDEX® Total US Market Index	14.82%	14.82%	3.35%	12.67%	N/A	N/A	N/A
Russell 3000® Index	14.04%	14.04%	8.77%	13.48%	10.36%	16.00%	8.05%

3-Year Statistics (as of 5/31/2019)

	Standard Deviation	Alpha	Beta	Sharpe Ratio	Correlation
TUSA	14.42%	-3.66	1.17	0.59	0.98
Russell 3000® Index	12.05%	---	1.00	0.86	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.

The NASDAQ AlphaDEX^® Total US Market Index (the "Index") is a trademark of Nasdaq, Inc. and has been licensed for use by First Trust Portfolios L.P. AlphaDEX^® is a trademark owned by First Trust Portfolios L.P. and has been licensed to Nasdaq, Inc. for use in the name of the Index. The First Trust Total US Market AlphaDEX^® ETF is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. and Nasdaq, Inc. makes no representation or warranty regarding the advisability of investing in the First Trust Total US Market AlphaDEX^® ETF or as to the result to be obtained by any person from use of the Index in connection with the trading of the First Trust Total US Market AlphaDEX^® ETF.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value