First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW) Exchange: NASDAQ

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 Nasdaq, Inc. (the "Index Provider"). The Index Provider may, from time to time, exercise reasonable discretion as it deems appropriate in order to ensure Index integrity.The Index is the equal-weighted version of the Nasdaq-100 Index®. The Nasdaq-100 Index® includes 100 of the largest U.S. and international non-financial companies listed on Nasdaq based on market capitalization. In order to be eligible for inclusion in the Index, a security must meet the following criteria: (i) the issuer of the security's primary U.S. listing must be exclusively listed on Nasdaq (unless the security was dually listed on another U.S. market prior to January 1, 2004 and has continuously maintained such listing); (ii) the security must be issued by a non-financial company; (iii) the security must have an average daily trading volume of at least 200,000 shares over the previous three months; and (iv) if the issuer of the security is organized under the laws of a jurisdiction outside the United States, then such security must have listed options on a recognized options market in the United States or be eligible for listed-options trading on a recognized options market in the United States. The 100 securities with the largest capitalizations meeting these criteria are included in the Index and are each assigned a weight of 1.00%. Once selected for inclusion in the Index, in addition to the criteria set forth above, the issuer of a security must have an adjusted market capitalization equal to or exceeding 0.10% of the aggregate adjusted market capitalization of the Nasdaq-100 Index® at each month-end in order to remain eligible for inclusion in the Index. In the event a company does not meet this criterion for two consecutive month-ends, it will be removed from the Index. The Index may contain securities issued by mid and large capitalization companies.The Index is rebalanced quarterly and reconstituted annually and the Fund will make corresponding changes to its portfolio shortly after the Index changes are made public. The Index's quarterly rebalance 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 103 securities and the Fund had significant investments in information technology 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.