First Trust NYSE Arca Biotechnology Index Fund (FBT) Exchange: NYSE ARCA

The Fund will normally invest at least 90% 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 Fund's investment advisor seeks a correlation of 0.95 or better (before fees and expenses) between the Fund's performance and the performance of the Index; a figure of 1.00 would represent perfect correlation. The Index is developed, maintained and sponsored by ICE Data Indices, LLC (the "Index Provider"). NYSE Arca serves as the Index calculation agent (the "Index Calculation Agent"). The Index Calculation Agent reserves the right to, at any time, change the number of stocks comprising the Index by adding or deleting one or more stocks, or replacing one or more stocks contained in the Index with one or more substitute stocks of its choice, if in the Index Calculation Agent's discretion such addition, deletion or substitution is necessary or appropriate to maintain the quality and/or character of the Index.The Index is an equal-dollar weighted index designed to measure the performance of a cross section of small, mid and large capitalization companies in the biotechnology industry that are primarily involved in the use of biological processes to develop products or provide services. Such processes include, but are not limited to, recombinant DNA technology, molecular biology, genetic engineering, monoclonal antibody based technology, lipid/liposome technology and genomics. In order to be eligible for inclusion in the Index, a security must be listed on a qualifying U.S. securities exchange, be issued by a company with a market capitalization of at least $1 billion, have an average daily trading value of at least $1 million over the prior three months and have a current last-traded price of greater than $3. The securities selected for inclusion in the Index are equally weighted. Once included in the Index, it is required that a security maintain a market capitalization of at least $900 million, an average daily trading value of at least $900,000 over the prior three months and a current last-traded price of greater than $1. 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 March 31, 2020, the Index was composed of 30 securities and the Fund had significant investments in health care 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.