First Trust S-Network Streaming and Gaming ETF (BNGE) Exchange: NYSE ARCA

The Fund will normally invest at least 80% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Index is developed, maintained and sponsored by S-Network Global Indexes, Inc. (the “Index Provider”). The Index Provider retains the right at any time, upon prior written notice, to modify the Index methodology.The Index is composed of common stock and depositary receipts issued by U.S. and non-U.S. companies that enable remote users to access online content; publish online content; participate in prospective wagering; spectate or participate in competitive video gaming; and that provide the products, services and technology that are necessary for the streaming and gaming industries. To be eligible for inclusion in the Index, a company’s stock must trade on a recognized global stock exchange, have a minimum market capitalization of $100 million, a free-float adjusted market capitalization value of at least $50 million, a minimum free float factor of 20%, a minimum average daily trading value for the previous three months of $3 million and must be principally engaged in one of the following three business segments:1.Content Streaming (companies that provide platforms for user-created content; companies that provide access to studio-created video content; companies that provide access to studio-created audio content)2.E-Sports (companies that design and develop video games; companies that enable professional gamers to compete in online competitions; companies that enable spectator services for online gaming)3.iGaming (companies that enable remote participation in prospective wagering)The top 15 securities from each of the three segments (based on market capitalization and average daily trading value) are selected for inclusion in the Index and will be weighted based upon their market capitalization.Certain companies that are not principally engaged in one or more of the three segments, but that derive significant revenues from businesses in one of the three segments may be included, provided: (i) such revenues represent more than 20% of the company’s total revenues and are independently reported in the company’s financial reports; (ii) applicable revenues are likely to have a material impact on the company’s overall share price performance; (iii) research and development investments in the technology are at the forefront of the company’s future initiatives; or (iv) the company’s applicable business is likely to have a significant impact on the sector as a whole.The Index is rebalanced and reconstituted quarterly and the Fund will make corresponding changes to its portfolio shortly after the Index changes are made public. The Index’s quarterly rebalance and reconstitution schedule may cause the Fund to experience a higher rate of portfolio turnover. The Fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated. As of May 24, 2021, the Index had significant exposure to consumer discretionary companies, although this may change from time to time. To the extent the Fund invests a significant portion of its assets in a given jurisdiction or investment sector, the Fund may be exposed to the risks associated with that jurisdiction or investment sector.The Fund is classified as “non-diversified” under the Investment Company Act of 1940, as amended (the “1940 Act”).