Market Overview

First Trust to Launch First Trust Lunt U.S. Factor Rotation ETF

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An index-tracking ETF that focuses on U.S. large-cap equities using a
multi factor rotation discipline.

First
Trust Advisors L.P.
("First Trust"), a leading exchange-traded fund
("ETF") provider and asset manager, announced today that it has launched
a new ETF, the First Trust Lunt U.S. Factor Rotation ETF (Cboe BZX:
FCTR) (the "fund"). The fund seeks investment results that correspond
generally to the price and yield (before the fund's fees and expenses)
of an equity index called the Lunt Capital Large Cap Factor Rotation
Index (the "index"). The index is designed to provide exposure to U.S.
large cap equities, rotating among select factors when they come into
favor using the propriety risk-adjusted relative strength methodology
from Lunt Capital Management, Inc. ("Lunt Capital"). The index rotates
among eight sub-indices, each of which exhibits the characteristics of
the high and low side of four factors.

Factor-based investing is a strategy used to choose securities based on
those factors which are associated with historically higher returns. "In
recent years, the investment industry has highlighted the value of
single and multi-factor investment solutions. The fund embraces a
multi-factor approach with the important innovation of applying factor
rotation to momentum, quality, value, and volatility," said John Lunt,
President, Lunt Capital. Factor-based strategies attempt to offer
exposure to securities which target a desired deviation from the
risk-return profile relative to the broader market. Although
single-factor investing offers the ability to hone in on a desirable
characteristic of a stock, a multi-factor approach may provide the added
benefit of diversification and provide a solution that seeks to enhance
returns over time. "We are very pleased to join First Trust in launching
the First Trust Lunt U.S. Factor Rotation ETF. First Trust and Lunt
Capital both have a history of innovation, which made it a natural fit
to work together in the next evolution of factor investing—multi-factor
rotation," said John Lunt.

For more information about First Trust, please contact Ryan Issakainen
CFA, Senior Vice President, ETF Strategist at (630) 765-8689 or RIssakainen@FTAdvisors.com.

About First Trust

First Trust is a federally registered investment advisor and serves as
the fund's investment advisor. First Trust and its affiliate First Trust
Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately
held companies that provide a variety of investment services. First
Trust has collective assets under management or supervsion of
approximately $126 billion as of June 29, 2018 through unit investment
trusts, exchange-traded funds, closed-end funds, mutual funds and
separate managed accounts. First Trust is the supervisor of the First
Trust unit investment trusts, while FTP is the sponsor. FTP is also a
distributor of mutual fund shares and exchange-traded fund creation
units. First Trust and FTP are based in Wheaton, Illinois. For more
information, visit http://www.ftportfolios.com.

You should consider the fund's investment objectives, risks, and
charges and expenses carefully before investing. Contact First Trust
Portfolios L.P. at 1-800-621-1675 to obtain 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 Cboe BZX
Exchange, Inc.

The fund's return may not match the return of the Lunt Capital Large Cap
Factor Rotation Index. The 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 security
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 securities issued by companies concentrated in a
particular industry or sector, which involves additional risks including
limited diversification.

The fund is not actively managed and generally will not attempt to take
defensive positions in declining markets.

Because of market movement, there can be no assurance that the
securities held by the fund will stay within the given market
capitalization range.

The fund currently has fewer assets than larger funds, and like other
relatively new funds, large inflows and outflows may impact the fund's
market exposure for limited periods of time.

The fund's strategy may frequently involve buying and selling portfolio
securities to rebalance the fund's exposure to the sub-indices. High
portfolio turnover may result in the fund paying higher levels of
transaction costs and generating greater tax liabilities for
shareholders. Portfolio turnover risk may cause the fund's performance
to be less than you expect.

As the use of Internet technology has become more prevalent in the
course of business, the fund has become more susceptible to potential
operational risks through breaches in cyber security.

The fund is classified as "non-diversified" and may invest a relatively
high percentage of its assets in a limited number of issuers. As a
result, the fund may be more susceptible to a single adverse economic or
regulatory occurrence affecting one or more of these issuers, experience
increased volatility and be highly concentrated in certain issuers.

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 information presented is not intended to constitute an investment
recommendation for, or advice to, any specific person. By providing this
information, First Trust is not undertaking to give advice in any
fiduciary capacity within the meaning of ERISA and the Internal Revenue
Code. First Trust has no knowledge of and has not been provided any
information regarding any investor. Financial advisors must determine
whether particular investments are appropriate for their clients. First
Trust believes the financial advisor is a fiduciary, is capable of
evaluating investment risks independently and is responsible for
exercising independent judgment with respect to its retirement plan
clients.

The Index is the property of Lunt Capital Management, Inc., which has
contracted with Nasdaq, Inc. to calculate and maintain the Index. The
fund is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. or its
affiliates (Nasdaq, with its affiliates, are referred to as the
"Corporations"). The Corporations have not passed on the legality or
suitability of, or the accuracy or adequacy of descriptions and
disclosures relating to, the fund. The Corporations make no
representation or warranty, express or implied to the owners of the fund
or any member of the public regarding the advisability of investing in
securities generally or in the fund particularly, or the ability of the
index to track general stock performance.

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