First Trust Total US Market AlphaDEX ETF (TUSA) Exchange: NASDAQ

The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks 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 owned and 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 a modified market capitalization index designed to quantitatively identify and select U.S. exchange-listed securities issued by small, mid and large cap U.S. companies that exhibit growth and value factors and appear to have the greatest potential for capital appreciation. The Index's initial universe is composed of the component stocks of the NASDAQ US Large Cap Index, NASDAQ US Mid Cap Index and the 1,000 stocks comprising the NASDAQ US Small Cap Index with the largest market capitalizations. Eligible securities must also have a five-day global rolling average daily dollar trading volume over the last 60 trading days of greater than $500,000.Eligible securities are ranked separately within each class (small, mid and large cap stocks) on the sum of ranks for both growth and value factors. The growth factors used to rank securities are 3-, 6- and 12-month price appreciation, sales to price and one-year sales growth. The value factors used to rank securities are book value to price, cash flow to price and return on assets. A security must have data for all growth and/or all value factors to receive a rank for that style. Each security is classified as either a growth stock or a value stock as determined by the Index Provider. This classification determines whether a security's growth rank or value rank is used as its "selection score." Securities classified as growth stocks are assigned their growth rank as their selection score and securities classified as value stocks are assigned their value rank as their selection score. The securities within each class are then ranked based upon their selection score. The Index selects the following securities for inclusion in the Index:1.The 200 highest ranking securities from the NASDAQ US Large Cap Index2.The 400 highest ranking securities from the NASDAQ US Mid Cap Index3.The 600 highest ranking securities from the NASDAQ US Small Cap Index The Index assigns an aggregate weight of 50% to the securities selected from the NASDAQ US Large Cap Index, 30% to the securities selected from the NASDAQ US Mid Cap Index and 20% to the securities selected from the NASDAQ US Small Cap Index. The selected securities within each class are split into quintiles based upon their selection score. The top ranked quintile receives 5/15 (33.3%) of the portfolio weight assigned to the class with successive quintiles receiving 4/15 (26.7%), 3/15 (20.0%), 2/15 (13.3%) and 1/15 (6.7%), respectively. Securities are equally weighted within each quintile.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 1,198 securities. 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.