First Trust Exchange-Traded Fund VI

Book 2

 

First Trust SMID Cap Rising Dividend Achievers ETF (SDVY)

First Trust Dorsey Wright Momentum & Value ETF (DVLU)

First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL)

Annual Report
For the Year Ended
September 30, 2022

Table of Contents
First Trust Exchange-Traded Fund VI
Annual Report
September 30, 2022

2

3
Fund Performance Overview

4

6

8

10

11
Portfolio of Investments

12

15

17

19

20

22

24

27

34

35

41

43

Table of Contents
Caution Regarding Forward-Looking Statements
This report contains certain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the goals, beliefs, plans or current expectations of First Trust Advisors L.P. (“First Trust” or the “Advisor”) and its representatives, taking into account the information currently available to them. Forward-looking statements include all statements that do not relate solely to current or historical fact. For example, forward-looking statements include the use of words such as “anticipate,” “estimate,” “intend,” “expect,” “believe,” “plan,” “may,” “should,” “would” or other words that convey uncertainty of future events or outcomes.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of any series of First Trust Exchange-Traded Fund VI (the “Trust”) described in this report (each such series is referred to as a “Fund” and collectively, the “Funds”) to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. When evaluating the information included in this report, you are cautioned not to place undue reliance on these forward-looking statements, which reflect the judgment of the Advisor and its representatives only as of the date hereof. We undertake no obligation to publicly revise or update these forward-looking statements to reflect events and circumstances that arise after the date hereof.
Performance and Risk Disclosure
There is no assurance that any Fund described in this report will achieve its investment objective. Each Fund is subject to market risk, which is the possibility that the market values of securities owned by the Fund will decline and that the value of the Fund’s shares may therefore be less than what you paid for them. Accordingly, you can lose money by investing in a Fund. See “Risk Considerations” in the Additional Information section of this report for a discussion of certain other risks of investing in the Funds.
Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. For the most recent month-end performance figures, please visit www.ftportfolios.com or speak with your financial advisor. Investment returns, net asset value and share price will fluctuate and Fund shares, when sold, may be worth more or less than their original cost.
The Advisor may also periodically provide additional information on Fund performance on each Fund’s web page at www.ftportfolios.com.
How to Read This Report
This report contains information that may help you evaluate your investment. It includes details about each Fund and presents data and analysis that provide insight into each Fund’s performance and investment approach.
By reading the market overview by Robert F. Carey, Chief Market Strategist of the Advisor, you may obtain an understanding of how the market environment affected the performance of each Fund. The statistical information that follows may help you understand each Fund’s performance compared to that of relevant market benchmarks.
It is important to keep in mind that the opinions expressed by personnel of the Advisor are just that: informed opinions. They should not be considered to be promises or advice. The opinions, like the statistics, cover the period through the date on the cover of this report. The material risks of investing in each Fund are spelled out in the prospectus, the statement of additional information, and other Fund regulatory filings.
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Table of Contents
Shareholder Letter
First Trust Exchange-Traded Fund VI
Annual Letter from the Chairman and CEO
September 30, 2022
Dear Shareholders,
First Trust is pleased to provide you with the annual report for certain series of the First Trust Exchange-Traded Fund VI (the “Funds”), which contains detailed information about the Funds for the twelve months ended September 30, 2022.
It is times like these that really test the mettle of investors. Are you someone that is implementing an investment plan with a long time horizon, a trader by nature, or do you fall somewhere in between? Frankly, the current climate is challenging for just about any strategy. While most investors are accustomed to dealing with high levels of volatility in the stock market, some of the daily swings we have witnessed lately have not only been uncharacteristically sharp but have occasionally seemed nearly inexplicable, in my opinion.
In case you have not noticed, volatility is also elevated in the fixed-income market. Bond valuations are down big in 2022. Year-to-date through October 31, 2022, the ICE BofA 15+ Year U.S. Treasury Index experienced a price decline of 33.51%, according to Bloomberg. It was down 31.87% on a total return basis, which includes reinvested interest. To put this into perspective, over the past 40 years, the worst annual showing by the U.S. Long-Term Government Bond Index (20-Year) tracked by Morningstar was the -14.90% total return posted in 2009 (think 2008-2009 global financial crisis). For those who may be unaware, investors benefitted from a trend of declining bond yields from September 1981 through August 2020. While that is an incredible run, nothing lasts forever. Suffice it to say, a lot of pain has been endured by investors in the markets this year and we believe there could be more to come in the near-term. The aggressive interest rate hikes by the Federal Reserve (the “Fed”) are a signal to the markets that it is behind the inflation curve. Moving forward, the Fed will be looking to lower inflation while simultaneously engineering a soft landing in the economy. That will be easier said than done, in my opinion.
There are far more headwinds challenging the securities markets than tailwinds. Here are just a few of those headwinds: stubbornly high inflation; additional rate hikes expected from the Fed from their November and December 2022 meetings, which could potentially push bond yields higher; the ongoing war between Russia and Ukraine, which is impacting the supply and prices of crude oil and natural gas; China enforcing a zero-tolerance policy to combat the spread of the coronavirus by locking down entire cities to its own economic detriment; and the potential for food and energy shortages this coming winter. With the housing market looking like it is finally cooling off, due largely to a huge spike in mortgage rates this year, which were up more than double the rate at the start of the year, the last big tailwind standing may just be the strong U.S. labor market. If the job market can hang in there, the Fed’s goal of a soft landing for the economy may be attainable. I think we will have a clearer picture of things at the start of 2023.
Year-to-date through October 31, 2022, the S&P 500® Index (the “Index”) posted a total return of -17.70%, according to Bloomberg, which puts the Index in bear market territory. A bear market is defined as a 20% or greater decline in the price of a security or index from its most recent peak. While the 17.70% decline in the Index would technically qualify as a stock market correction, investors should continue to view the current downturn as a bear market, in my opinion. Keep in mind, since World War II, there have been 12 bear markets in the Index, excluding the current bear market, according to Yardeni Research. The average price decline of those 12 bear markets was 33.6%. The average price gain over the 12-months following the trough reached during those bear markets was 40.8%, according to Bloomberg. Bear markets come and go. You can’t catch the turn if you are not in the market when the turn comes.
Thank you for giving First Trust the opportunity to play a role in your financial future. We value our relationship with you and will report on the Funds again in six months.
Sincerely,
James A. Bowen
Chairman of the Board of Trustees
Chief Executive Officer of First Trust Advisors L.P.
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Table of Contents
Market Overview
First Trust Exchange-Traded Fund VI
Annual Report (Unaudited)
September 30, 2022
Robert F. Carey, CFA
Senior Vice President and Chief Market Strategist
First Trust Advisors L.P.
Mr. Carey is responsible for the overall management of research and analysis of the First Trust product line. Mr. Carey has more than 30 years of experience as an Equity and Fixed-Income Analyst and is a recipient of the Chartered Financial Analyst (“CFA”) designation. He is a graduate of the University of Illinois at Champaign-Urbana with a B.S. in Physics. He is also a member of the Investment Analysts Society of Chicago and the CFA Institute. Mr. Carey has appeared as a guest on such programs as Bloomberg TV, CNBC, and WBBM Radio, and has been quoted by several publications, including The Wall Street Journal, The Wall Street Reporter, Bloomberg News Service, and Registered Rep.
State of the Global Economy
The International Monetary Fund (“IMF”) reported in its October 2022 release that global gross domestic product (“GDP”) growth is expected to come in at 3.2% in 2022 and 2.7% in 2023, down from 6.0% in 2021. The IMF sees the U.S. economy growing 1.6% in 2022 and 1.0% in 2023, down from 5.7% in 2021. With respect to all Advanced Economies, the IMF is projecting GDP growth of 2.4% in 2022 and 1.1% in 2023, down from 5.2% in 2021. Lastly, it sees Emerging Markets and Developing Economies growing 3.7% in 2022 and 3.7% again in 2023, down from 6.6% in 2021. From 1970 to 2021, the average global GDP growth rate was 3.6%, according to the IMF. Looking ahead, the IMF notes that the global economy must navigate three key pressures: the war in Ukraine, world-wide inflation and continued economic headwinds in the U.S., Europe and China.
Russia’s war with Ukraine continues to destabilize the global economy, increasing the cost of living and impeding economic growth. European natural gas prices have spiked four-fold since 2021, according to the IMF. Russia has decreased natural gas deliveries to Europe by over 80% of their 2021 total, greatly increasing the likelihood of an energy shortage. Worldwide inflationary pressures continue to fester, with global inflation forecast to surge to 8.8% in 2022, up from 4.7% in 2021. Central banks have rapidly tightened monetary policy in response, and will likely have to continue to do so, in our opinion. These tighter financial conditions have produced significant headwinds to growth among most major economies and are likely to have at least some impact in 2023.
Performance of Global Stocks and Bonds
U.S. equities have turned negative over the past year. The S&P 500® (the “Index”), S&P MidCap 400® and S&P SmallCap 600® Indices posted total returns of -15.47%, -15.25% and -18.83%, respectively, for the 12-month period ended September 30, 2022, according to Bloomberg. Value stocks outperformed growth stocks over the period. The S&P 500® Value Index posted a total return of -9.63% versus -21.11% for the S&P 500® Growth Index; an indication that investors may be anticipating slower growth over the near-term and are opting for companies that are trading at more attractive valuations. Nine of the eleven sectors that comprise the Index were down on a total return basis, with Energy and Utilities posting the only positive returns. The top-performer was Energy, up 45.70%, while the worst showing came from Communication Services, down 39.05%.
A Bloomberg survey of 23 equity strategists found that the average 2022 year-end price target for the Index was 4,346 as of September 15, 2022, down from 4,376 on August 16, 2022, according to its own release. Heading into 2022 (December 16, 2021), strategists had an average target of 4,950. The highest and lowest estimates on September 15, 2022, were 5,100 and 3,400, respectively. On September 15, 2022, the Index closed at 3,901.35, which was 18.66% below its all-time closing high of 4,796.56 on January 3, 2022. As of September 30, 2022, Bloomberg’s 2022, 2023 and 2024 consensus earnings growth rate estimates for the Index stood at 9.61%, 6.14% and 8.44%, respectively.
The performance of foreign equities continues to lag that of major U.S. stock indices. Over the past 12 months, the MSCI World ex USA and MSCI Emerging Markets equity indices posted total returns of -23.91% (USD) and -28.11% (USD), respectively, according to Bloomberg. Major foreign bond indices were also in negative territory. The Bloomberg Global Aggregate Index of higher quality debt posted a total return of -20.43% (USD), while the EM Hard Currency Aggregate Index of emerging markets debt fell by 23.01% (USD), according to Bloomberg. Over that same period, the U.S. dollar surged by 18.98% against a basket of major currencies, as measured by the U.S. Dollar Index (DXY), pressuring the returns on unhedged foreign securities held by U.S. investors.
U.S. bond indices have not been immune to the aggressive tightening of monetary policy by central banks, particularly the U.S. Federal Reserve. The best performing index we track was the U.S. Treasury: Intermediate Index, which posted a total return of -9.23% for the 12-month period ended September 30, 2022. The worst performer was the U.S. Corporate Investment Grade Index which posted a total return of -18.53% for the same period. The yield on the benchmark 10-Year Treasury Note (“T-Note”) rose by 234 basis points (a 157.47% increase over the period) to close at 3.83% on September 30, 2022, according to Bloomberg. For comparative purposes, the average yield on the 10-Year T-Note was 2.10% for the 10-year period ended September 30, 2022.
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Table of Contents
Fund Performance Overview (Unaudited)
First Trust SMID Cap Rising Dividend Achievers ETF (SDVY)
The First Trust SMID Cap Rising Dividend Achievers ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Nasdaq US Small Mid Cap Rising Dividend Achievers™ Index (the “Index”). The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks that comprise the Index. The Index is designed to provide access to a diversified portfolio of 100 small and mid cap companies with a history of raising their dividends and exhibit the characteristics to continue to do so in the future. The shares of the Fund are listed and traded on The Nasdaq Stock Market LLC, under the ticker symbol “SDVY.”
Performance
    Average Annual
Total Returns
Cumulative
Total Returns
  1 Year Ended
9/30/22
Inception (11/1/17)
to 9/30/22
Inception (11/1/17)
to 9/30/22
Fund Performance      
NAV -16.78% 4.72% 25.41%
Market Price -16.90% 4.72% 25.41%
Index Performance      
Nasdaq US Small Mid Cap Rising Dividend Achievers™ Index -16.36% 5.34% 29.13%
S&P 1000® Index -16.35% 5.31% 28.94%
(See Notes to Fund Performance Overview on page 10.)
The Fund generated a net asset value (“NAV”) return of -16.78% during the 12-month period covered by this report. During the same period, the S&P 1000® Index (the “Benchmark”) generated a return of -16.35%. The most significant allocation in the Fund during the period covered by this report went to the Financials sector. Investments in this sector received an average weight of 30.6% and contributed -2.4% to the Fund’s overall return. The most significant contribution to the Fund’s return for the period came from investments in the Consumer Discretionary sector. This sector’s allocation was 19.5% and caused a -6.4% contribution to the Fund’s return. None of the invested sectors had a positive contribution to the Fund’s return during the period covered by this report.

Nasdaq® and Nasdaq US Small Mid Cap Rising Dividend Achievers™ Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
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Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust SMID Cap Rising Dividend Achievers ETF (SDVY) (Continued)
Sector Allocation % of Total
Investments
Financials 28.8%
Consumer Discretionary 23.8
Industrials 22.7
Information Technology 8.0
Materials 7.8
Energy 4.0
Communication Services 2.0
Consumer Staples 2.0
Real Estate 0.9
Total 100.0%
Top Ten Holdings % of Total
Investments
Landstar System, Inc. 1.1%
Boise Cascade Co. 1.1
Texas Pacific Land Corp. 1.1
Allegion PLC 1.1
Robert Half International, Inc. 1.1
Mueller Industries, Inc. 1.1
Chord Energy Corp. 1.1
UFP Industries, Inc. 1.0
Sturm Ruger & Co., Inc. 1.0
EMCOR Group, Inc. 1.0
Total 10.7%
  
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance. 
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
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Fund Performance Overview (Unaudited) (Continued)
First Trust Dorsey Wright Momentum & Value ETF (DVLU)
The First Trust Dorsey Wright Momentum & Value ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Dorsey Wright Momentum Plus Value™ Index (the “Index”). Under normal conditions, the Fund will invest at least 90% of its net assets (including investment borrowings) in the equity securities 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 a rules-based equity index designed to track the overall performance of the 50 most undervalued stocks comprising the Nasdaq US Large Mid Cap Index™ that exhibit high levels of “relative strength.” A relative strength analysis is a momentum-based investment strategy that emphasizes a security’s forward price momentum in the security selection process. The Index is owned and was developed by Nasdaq, Inc. The shares of the Fund are listed and traded on The Nasdaq Stock Market LLC, under the ticker symbol “DVLU.”
Performance
    Average Annual
Total Returns
Cumulative
Total Returns
  1 Year Ended
9/30/22
Inception (9/5/18)
to 9/30/22
Inception (9/5/18)
to 9/30/22
Fund Performance      
NAV -11.71% 2.16% 9.09%
Market Price -11.66% 2.17% 9.14%
Index Performance      
Dorsey Wright Momentum Plus Value™ Index -11.14% 2.79% 11.85%
S&P 500® Index -15.47% 7.31% 33.25%
(See Notes to Fund Performance Overview on page 10.)
The Fund generated a NAV return of -11.71% during the 12-month period covered by this report. During the same period, the S&P 500® Index (the “Benchmark”) generated a return of -15.47%. The greatest allocation in the Fund during the period covered by this report was to investments in the Financials industry. This sector received an allocation of 33.5% and contributed -3.6% to the Fund’s overall return. The greatest contribution to the Fund’s return for the period came from investments in the Energy sector, which received an allocation of 13.2% and contributed 2.7%. The most negative contribution to the Fund’s return for the period came from the Consumer Discretionary sector. Investments in this sector accounted for -4.3% of underperformance for the Fund during the period covered by this report.

Nasdaq® and Dorsey Wright Momentum Plus Value™ Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
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Fund Performance Overview (Unaudited) (Continued)
First Trust Dorsey Wright Momentum & Value ETF (DVLU) (Continued)
Sector Allocation % of Total
Investments
Financials 36.8%
Consumer Discretionary 15.5
Industrials 9.5
Materials 8.8
Health Care 8.2
Information Technology 5.6
Energy 5.0
Consumer Staples 4.9
Utilities 2.9
Communication Services 2.8
Total 100.0%
Top Ten Holdings % of Total
Investments
Unum Group 3.7%
Jabil, Inc. 3.2
UFP Industries, Inc. 3.1
Reliance Steel & Aluminum Co. 2.9
MetLife, Inc. 2.9
NRG Energy, Inc. 2.9
Nexstar Media Group, Inc. 2.8
McKesson Corp. 2.8
Prudential Financial, Inc. 2.8
American International Group, Inc. 2.7
Total 29.8%
  
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance. 
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
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Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL)
The First Trust Dorsey Wright Momentum & Low Volatility ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Dorsey Wright Momentum Plus Low Volatility™ Index (the “Index”). Under normal conditions, the Fund will invest at least 90% of its net assets (including investment borrowings) in the equity securities 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 a rules-based equity index designed to track the overall performance of the 50 stocks comprising the Nasdaq US Large Mid Cap Index™ that exhibit the lowest levels of volatility while still maintaining high levels of “relative strength.” A relative strength analysis is a momentum-based investment strategy that emphasizes a security’s forward price momentum in the security selection process. The Index is owned and was developed by Nasdaq, Inc. The shares of the Fund are listed and traded on The Nasdaq Stock Exchange LLC, under the ticker symbol “DVOL.”
Performance
    Average Annual
Total Returns
Cumulative
Total Returns
  1 Year Ended
9/30/22
Inception (9/5/18)
to 9/30/22
Inception (9/5/18)
to 9/30/22
Fund Performance      
NAV -12.02% 5.70% 25.28%
Market Price -11.94% 5.72% 25.38%
Index Performance      
Dorsey Wright Momentum Plus Low Volatility™ Index -11.49% 6.37% 28.55%
S&P 500® Index -15.47% 7.31% 33.25%
(See Notes to Fund Performance Overview on page 10.)
The Fund generated a NAV return of -12.02% during the 12-month period covered by this report. During the same period, the S&P 500® Index (the “Benchmark”) generated a return of -15.47%. During the period covered by this report, the Fund allocated 25.1% to the Real Estate sector, which was a greater allocation than that of any other sector during the same period. Investments in this sector caused a -3.9% contribution to the Fund’s return, the most significant contribution to the Fund’s return of any sector during the period. The second largest allocation in the Fund during the period was to the Industrials sector, which contributed -1.8% to the Fund’s return and was the second worst contribution of any sector in the Fund. No sector had a positive contribution to the Fund’s return during the period covered by this report.

Nasdaq® and Dorsey Wright Momentum Plus Low Volatility™ Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
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Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) (Continued)
Sector Allocation % of Total
Investments
Financials 24.6%
Industrials 19.6
Real Estate 14.8
Utilities 12.2
Health Care 11.6
Information Technology 6.5
Consumer Staples 5.6
Consumer Discretionary 3.0
Materials 1.1
Energy 1.0
Total 100.0%
Top Ten Holdings % of Total
Investments
Waste Management, Inc. 3.2%
Republic Services, Inc. 3.1
FirstEnergy Corp. 3.0
Ameren Corp. 3.0
McDonald’s Corp. 3.0
McKesson Corp. 3.0
AMETEK, Inc. 2.9
Constellation Brands, Inc., Class A 2.9
CenterPoint Energy, Inc. 2.8
Procter & Gamble (The) Co. 2.7
Total 29.6%
  
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance. 
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
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Table of Contents
Nasdaq® and Dorsey Wright Momentum Plus Low Volatility™ Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.

Table of Contents
Notes to Fund Performance Overview (Unaudited)
Total returns for the periods since inception are calculated from the inception date of each Fund. “Average Annual Total Returns” represent the average annual change in value of an investment over the periods indicated. “Cumulative Total Returns” represent the total change in value of an investment over the periods indicated.
Each Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is computed by dividing the value of all assets of the Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of outstanding shares. The price used to calculate market return (“Market Price”) is determined by using the midpoint of the national best bid and offer price (“NBBO”) as of the time that the Fund’s NAV is calculated. Under SEC rules, the NBBO consists of the highest displayed buy and lowest sell prices among the various exchanges trading the Fund at the time the Fund’s NAV is calculated. Prior to January 1, 2019, the price used was the midpoint between the highest bid and the lowest offer on the stock exchange on which shares of the Fund were listed for trading as of the time that the Fund’s NAV was calculated. Since shares of each Fund did not trade in the secondary market until after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund, the NAV of each Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that all distributions have been reinvested in each Fund at NAV and Market Price, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike each Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by each Fund. These expenses negatively impact the performance of each Fund. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower. The total returns presented reflect the reinvestment of dividends on securities in the indices. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. The investment return and principal value of shares of each Fund will vary with changes in market conditions. Shares of each Fund may be worth more or less than their original cost when they are redeemed or sold in the market. Each Fund’s past performance is no guarantee of future performance.
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First Trust Exchange-Traded Fund VI
Understanding Your Fund Expenses
September 30, 2022 (Unaudited)
As a shareholder of First Trust SMID Cap Rising Dividend Achievers ETF, First Trust Dorsey Wright Momentum & Value ETF, or First Trust Dorsey Wright Momentum & Low Volatility ETF (each a “Fund” and collectively, the “Funds”), you incur two types of costs: (1) transaction costs; and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees, if any, and other Fund expenses. This Example is intended to help you understand your ongoing costs of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held through the six-month period ended September 30, 2022.
Actual Expenses
The first line in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During the Six-Month Period” to estimate the expenses you paid on your account during this six-month period.
Hypothetical Example for Comparison Purposes
The second line in the following table provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not each Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Funds and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs such as brokerage commissions. Therefore, the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
  Beginning
Account Value
April 1, 2022
Ending
Account Value
September 30, 2022
Annualized
Expense Ratio
Based on the
Six-Month
Period
Expenses Paid
During the
Six-Month
Period (a)
First Trust SMID Cap Rising Dividend Achievers ETF (SDVY)
Actual $1,000.00 $840.30 0.60% $2.77
Hypothetical (5% return before expenses) $1,000.00 $1,022.06 0.60% $3.04
First Trust Dorsey Wright Momentum & Value ETF (DVLU)
Actual $1,000.00 $805.10 0.60% $2.72
Hypothetical (5% return before expenses) $1,000.00 $1,022.06 0.60% $3.04
First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL)
Actual $1,000.00 $843.00 0.60% $2.77
Hypothetical (5% return before expenses) $1,000.00 $1,022.06 0.60% $3.04
    
(a) Expenses are equal to the annualized expense ratios as indicated in the table multiplied by the average account value over the period (April 1, 2022 through September 30, 2022), multiplied by 183/365 (to reflect the six-month period).
Page 11

Table of Contents
First Trust SMID Cap Rising Dividend Achievers ETF (SDVY)
Portfolio of Investments
September 30, 2022
Shares   Description   Value
COMMON STOCKS – 99.8%
    Auto Components – 1.0%    
254,321   Standard Motor Products, Inc.   $8,265,433
    Banks – 12.0%    
210,647   Bank OZK   8,333,195
237,101   Citizens Financial Group, Inc.   8,146,790
111,278   Comerica, Inc.   7,911,866
186,825   Eagle Bancorp, Inc.   8,373,496
120,292   East West Bancorp, Inc.   8,076,405
605,776   First BanCorp   8,287,016
328,512   Hilltop Holdings, Inc.   8,163,523
47,808   M&T Bank Corp.   8,429,507
270,204   Pacific Premier Bancorp, Inc.   8,365,516
111,822   Popular, Inc.   8,057,893
223,701   Synovus Financial Corp.   8,391,025
151,511   Zions Bancorp N.A.   7,705,849
        98,242,081
    Building Products – 4.1%    
169,019   A.O. Smith Corp.   8,210,943
97,479   Allegion PLC   8,741,917
107,067   Owens Corning   8,416,537
119,015   UFP Industries, Inc.   8,588,122
        33,957,519
    Capital Markets – 3.9%    
97,456   Evercore, Inc., Class A   8,015,756
362,137   Franklin Resources, Inc.   7,793,188
266,190   Jefferies Financial Group, Inc.   7,852,605
81,813   Raymond James Financial, Inc.   8,084,761
        31,746,310
    Chemicals – 2.9%    
237,664   Avient Corp.   7,201,219
340,414   Huntsman Corp.   8,353,760
96,223   Westlake Corp.   8,359,854
        23,914,833
    Commercial Services &
Supplies – 1.0%
   
65,758   Tetra Tech, Inc.   8,451,876
    Construction & Engineering – 2.1%    
122,673   AECOM   8,387,153
74,056   EMCOR Group, Inc.   8,551,987
        16,939,140
    Consumer Finance – 1.0%    
571,732   SLM Corp.   7,998,531
    Containers & Packaging – 1.0%    
74,043   Packaging Corp. of America   8,314,288
    Diversified Consumer
Services – 1.0%
   
15,801   Graham Holdings Co., Class B   8,500,622
Shares   Description   Value
    Diversified Financial Services – 1.0%    
139,090   Voya Financial, Inc.   $8,414,945
    Electronic Equipment,
Instruments & Components – 1.0%
   
41,303   Littelfuse, Inc.   8,206,493
    Food Products – 1.0%    
2,394   Seaboard Corp.   8,145,968
    Hotels, Restaurants &
Leisure – 1.0%
   
96,594   Texas Roadhouse, Inc.   8,428,792
    Household Durables – 8.0%    
190,474   Century Communities, Inc.   8,148,478
381,732   Ethan Allen Interiors, Inc.   8,069,814
102,359   Installed Building Products, Inc.   8,290,055
350,213   La-Z-Boy, Inc.   7,904,307
297,540   MDC Holdings, Inc.   8,158,547
222,109   PulteGroup, Inc.   8,329,088
200,231   Toll Brothers, Inc.   8,409,702
60,269   Whirlpool Corp.   8,124,864
        65,434,855
    Insurance – 8.0%    
67,960   American Financial Group, Inc.   8,354,323
228,498   CNA Financial Corp.   8,431,576
30,882   Everest Re Group Ltd.   8,104,672
217,839   Fidelity National Financial, Inc.   7,885,772
172,899   First American Financial Corp.   7,970,644
400,481   Old Republic International Corp.   8,382,067
113,518   Principal Financial Group, Inc.   8,190,324
218,441   Unum Group   8,475,511
        65,794,889
    IT Services – 2.1%    
194,393   Genpact Ltd.   8,508,582
617,779   Western Union (The) Co.   8,340,016
        16,848,598
    Leisure Products – 4.9%    
182,018   Acushnet Holdings Corp.   7,915,963
159,529   Johnson Outdoors, Inc., Class A   8,185,433
81,070   Polaris, Inc.   7,754,345
770,909   Smith & Wesson Brands, Inc.   7,994,326
168,830   Sturm Ruger & Co., Inc.   8,574,876
        40,424,943
    Machinery – 9.2%    
84,304   AGCO Corp.   8,107,516
96,234   Crane Holdings Co.   8,424,324
141,072   Graco, Inc.   8,457,266
42,659   IDEX Corp.   8,525,401
146,497   Mueller Industries, Inc.   8,707,782
39,919   Nordson Corp.   8,473,606
 
Page 12
See Notes to Financial Statements

Table of Contents
First Trust SMID Cap Rising Dividend Achievers ETF (SDVY)
Portfolio of Investments (Continued)
September 30, 2022
Shares   Description   Value
COMMON STOCKS (Continued)
    Machinery (Continued)    
40,571   Snap-on, Inc.   $8,168,971
267,492   Terex Corp.   7,955,212
98,393   Toro (The) Co.   8,509,027
        75,329,105
    Marine – 2.0%    
658,345   Genco Shipping & Trading Ltd.   8,249,063
125,979   Matson, Inc.   7,750,228
        15,999,291
    Media – 2.0%    
320,218   Interpublic Group of (The) Cos., Inc.   8,197,581
130,501   Omnicom Group, Inc.   8,233,308
        16,430,889
    Metals & Mining – 2.8%    
232,554   Commercial Metals Co.   8,251,016
116,535   Steel Dynamics, Inc.   8,268,158
170,566   Worthington Industries, Inc.   6,505,387
        23,024,561
    Oil, Gas & Consumable Fuels – 4.0%    
201,885   California Resources Corp.   7,758,440
63,558   Chord Energy Corp.   8,692,828
385,083   Magnolia Oil & Gas Corp., Class A   7,628,494
4,930   Texas Pacific Land Corp.   8,761,744
        32,841,506
    Paper & Forest Products – 1.0%    
166,450   Louisiana-Pacific Corp.   8,520,576
    Personal Products – 1.0%    
73,485   Medifast, Inc.   7,962,835
    Professional Services – 1.1%    
113,964   Robert Half International, Inc.   8,718,246
    Real Estate Management &
Development – 0.9%
   
235,691   Marcus & Millichap, Inc.   7,725,951
    Road & Rail – 2.1%    
61,998   Landstar System, Inc.   8,950,651
417,098   Schneider National, Inc., Class B   8,467,090
        17,417,741
    Semiconductors &
Semiconductor Equipment – 2.9%
   
482,716   Amkor Technology, Inc.   8,230,308
94,198   Entegris, Inc.   7,820,318
Shares   Description   Value
    Semiconductors &
Semiconductor Equipment (Continued)
   
85,964   Universal Display Corp.   $8,110,703
        24,161,329
    Software – 1.0%    
411,191   NortonLifeLock, Inc.   8,281,387
    Specialty Retail – 4.9%    
798,428   American Eagle Outfitters, Inc.   7,768,704
260,031   Buckle (The), Inc.   8,232,581
78,307   Dick’s Sporting Goods, Inc.   8,194,045
326,923   Haverty Furniture Cos., Inc.   8,140,383
65,076   Williams-Sonoma, Inc.   7,669,207
        40,004,920
    Technology Hardware,
Storage & Peripherals – 1.0%
   
127,284   NetApp, Inc.   7,872,515
    Textiles, Apparel & Luxury
Goods – 2.9%
   
123,130   Columbia Sportswear Co.   8,286,649
496,156   Levi Strauss & Co., Class A   7,179,377
298,656   Steven Madden Ltd.   7,965,156
        23,431,182
    Thrifts & Mortgage Finance – 2.9%    
224,672   Essent Group Ltd.   7,834,313
612,618   MGIC Investment Corp.   7,853,763
419,874   Radian Group, Inc.   8,099,369
        23,787,445
    Trading Companies &
Distributors – 1.1%
   
147,716   Boise Cascade Co.   8,783,193
    Total Investments – 99.8%   818,322,788
    (Cost $1,005,213,394)    
    Net Other Assets and Liabilities – 0.2%   1,298,415
    Net Assets – 100.0%   $819,621,203
 
See Notes to Financial Statements
Page 13

Table of Contents
First Trust SMID Cap Rising Dividend Achievers ETF (SDVY)
Portfolio of Investments (Continued)
September 30, 2022

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2022 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
  Total
Value at
9/30/2022
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks* $818,322,788 $818,322,788 $ $
    
* See Portfolio of Investments for industry breakout.
Page 14
See Notes to Financial Statements

Table of Contents
First Trust Dorsey Wright Momentum & Value ETF (DVLU)
Portfolio of Investments
September 30, 2022
Shares   Description   Value
COMMON STOCKS – 97.5%
    Aerospace & Defense – 1.0%    
3,402   Textron, Inc.   $198,201
    Air Freight & Logistics – 0.7%    
973   FedEx Corp.   144,461
    Banks – 9.1%    
2,945   Comerica, Inc.   209,390
6,098   Popular, Inc.   439,422
20,469   Regions Financial Corp.   410,813
11,343   Synovus Financial Corp.   425,476
3,439   Wintrust Financial Corp.   280,450
        1,765,551
    Beverages – 2.4%    
9,670   Molson Coors Beverage Co., Class B   464,063
    Building Products – 3.1%    
8,201   UFP Industries, Inc.   591,784
    Chemicals – 5.9%    
3,519   CF Industries Holdings, Inc.   338,704
4,451   Eastman Chemical Co.   316,244
6,448   LyondellBasell Industries N.V., Class A   485,405
        1,140,353
    Construction & Engineering – 1.6%    
4,807   MasTec, Inc. (a)   305,244
    Consumer Finance – 1.1%    
14,811   SLM Corp.   207,206
    Distributors – 1.0%    
3,910   LKQ Corp.   184,357
    Electric Utilities – 2.9%    
14,861   NRG Energy, Inc.   568,730
    Electronic Equipment,
Instruments & Components – 3.2%
   
10,577   Jabil, Inc.   610,399
    Food & Staples Retailing – 2.5%    
10,613   Albertsons Cos., Inc., Class A   263,839
4,860   Kroger (The) Co.   212,625
        476,464
    Health Care Providers &
Services – 8.2%
   
4,259   Centene Corp. (a)   331,393
1,578   Cigna Corp.   437,848
1,342   Laboratory Corp of America Holdings   274,855
Shares   Description   Value
    Health Care Providers &
Services (Continued)
   
1,580   McKesson Corp.   $536,994
        1,581,090
    Hotels, Restaurants &
Leisure – 1.1%
   
4,527   Boyd Gaming Corp.   215,712
    Household Durables – 4.7%    
4,684   Mohawk Industries, Inc. (a)   427,134
3,559   Whirlpool Corp.   479,789
        906,923
    Insurance – 24.2%    
11,108   American International Group, Inc.   527,408
7,085   Arch Capital Group Ltd. (a)   322,651
1,467   Assurant, Inc.   213,111
10,275   Axis Capital Holdings Ltd.   505,016
2,169   Globe Life, Inc.   216,249
1,688   Hanover Insurance Group (The), Inc.   216,300
9,377   MetLife, Inc.   569,934
7,279   Principal Financial Group, Inc.   525,180
6,209   Prudential Financial, Inc.   532,608
2,217   Travelers (The) Cos., Inc.   339,644
18,578   Unum Group   720,827
        4,688,928
    IT Services – 2.4%    
19,333   DXC Technology Co. (a)   473,272
    Machinery – 1.9%    
6,210   Timken (The) Co.   366,638
    Media – 2.8%    
3,232   Nexstar Media Group, Inc.   539,259
    Metals & Mining – 2.9%    
3,270   Reliance Steel & Aluminum Co.   570,321
    Oil, Gas & Consumable Fuels – 5.0%    
5,259   Exxon Mobil Corp.   459,163
18,198   Kinder Morgan, Inc.   302,815
3,335   Occidental Petroleum Corp.   204,936
        966,914
    Professional Services – 1.2%    
921   CACI International, Inc., Class A (a)   240,436
    Specialty Retail – 7.4%    
4,828   AutoNation, Inc. (a)   491,828
2,034   Lithia Motors, Inc.   436,395
5,205   Penske Automotive Group, Inc.   512,328
        1,440,551
 
See Notes to Financial Statements
Page 15

Table of Contents
First Trust Dorsey Wright Momentum & Value ETF (DVLU)
Portfolio of Investments (Continued)
September 30, 2022
Shares   Description   Value
COMMON STOCKS (Continued)
    Textiles, Apparel & Luxury
Goods – 1.2%
   
8,484   Tapestry, Inc.   $241,200
    Total Common Stocks   18,888,057
    (Cost $20,557,061)    
REAL ESTATE INVESTMENT TRUSTS – 2.3%
    Mortgage Real Estate
Investment Trusts – 2.3%
   
61,340   Rithm Capital Corp.   449,009
    (Cost $648,020)    
    Total Investments – 99.8%   19,337,066
    (Cost $21,205,081)    
    Net Other Assets and Liabilities – 0.2%   32,149
    Net Assets – 100.0%   $19,369,215
    
(a) Non-income producing security.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2022 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
  Total
Value at
9/30/2022
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks* $18,888,057 $18,888,057 $ $
Real Estate Investment Trusts* 449,009 449,009
Total Investments $19,337,066 $19,337,066 $ $
    
* See Portfolio of Investments for industry breakout.
Page 16
See Notes to Financial Statements

Table of Contents
First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL)
Portfolio of Investments
September 30, 2022
Shares   Description   Value
COMMON STOCKS – 82.3%
    Aerospace & Defense – 2.6%    
4,480   Huntington Ingalls Industries, Inc.   $992,320
13,350   Raytheon Technologies Corp.   1,092,831
        2,085,151
    Beverages – 2.9%    
10,178   Constellation Brands, Inc., Class A   2,337,683
    Biotechnology – 2.6%    
15,739   AbbVie, Inc.   2,112,331
    Commercial Services &
Supplies – 6.2%
   
18,219   Republic Services, Inc.   2,478,513
16,121   Waste Management, Inc.   2,582,745
        5,061,258
    Containers & Packaging – 1.1%    
8,092   Packaging Corp. of America   908,651
    Electric Utilities – 3.0%    
66,759   FirstEnergy Corp.   2,470,083
    Electrical Equipment – 2.9%    
20,872   AMETEK, Inc.   2,367,093
    Electronic Equipment,
Instruments & Components – 1.3%
   
15,575   Amphenol Corp., Class A   1,042,902
    Gas Utilities – 1.7%    
21,965   National Fuel Gas Co.   1,351,946
    Health Care Providers &
Services – 9.0%
   
16,237   AmerisourceBergen Corp.   2,197,353
1,917   Chemed Corp.   836,886
7,105   McKesson Corp.   2,414,776
3,692   UnitedHealth Group, Inc.   1,864,608
        7,313,623
    Hotels, Restaurants &
Leisure – 3.0%
   
10,482   McDonald’s Corp.   2,418,617
    Household Products – 2.7%    
17,563   Procter & Gamble (The) Co.   2,217,329
    Insurance – 21.9%    
6,252   American Financial Group, Inc.   768,558
34,095   Arch Capital Group Ltd. (a)   1,552,686
8,822   Arthur J. Gallagher & Co.   1,510,503
13,796   Assurant, Inc.   2,004,145
11,549   Chubb Ltd.   2,100,532
11,908   Hanover Insurance Group (The), Inc.   1,525,891
Shares   Description   Value
    Insurance (Continued)    
14,652   Marsh & McLennan Cos., Inc.   $2,187,397
18,398   Progressive (The) Corp.   2,138,032
13,473   Travelers (The) Cos., Inc.   2,064,064
30,364   W.R. Berkley Corp.   1,960,907
        17,812,715
    IT Services – 5.2%    
5,976   Automatic Data Processing, Inc.   1,351,711
9,834   Jack Henry & Associates, Inc.   1,792,443
9,555   Paychex, Inc.   1,072,167
        4,216,321
    Machinery – 1.2%    
8,519   Dover Corp.   993,145
    Multi-Utilities – 5.8%    
30,198   Ameren Corp.   2,432,449
81,266   CenterPoint Energy, Inc.   2,290,076
        4,722,525
    Oil, Gas & Consumable Fuels – 0.9%    
27,160   Williams (The) Cos., Inc.   777,591
    Professional Services – 1.0%    
3,156   CACI International, Inc., Class A (a)   823,905
    Road & Rail – 2.5%    
10,665   Union Pacific Corp.   2,077,755
    Trading Companies &
Distributors – 3.1%
   
31,144   Fastenal Co.   1,433,870
2,285   WW Grainger, Inc.   1,117,799
        2,551,669
    Water Utilities – 1.7%    
10,697   American Water Works Co., Inc.   1,392,321
    Total Common Stocks   67,054,614
    (Cost $72,210,099)    
REAL ESTATE INVESTMENT TRUSTS – 17.5%
    Equity Real Estate Investment
Trusts – 14.8%
   
32,966   Apartment Income REIT Corp.   1,273,147
14,709   Camden Property Trust   1,756,990
16,141   Equity LifeStyle Properties, Inc.   1,014,300
46,638   First Industrial Realty Trust, Inc.   2,089,849
12,474   Mid-America Apartment Communities, Inc.   1,934,343
4,416   Public Storage   1,293,049
7,518   Sun Communities, Inc.   1,017,411
17,545   Terreno Realty Corp.   929,710
11,342   Welltower, Inc.   729,517
        12,038,316
 
See Notes to Financial Statements
Page 17

Table of Contents
First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL)
Portfolio of Investments (Continued)
September 30, 2022
Shares   Description   Value
REAL ESTATE INVESTMENT TRUSTS (Continued)
    Mortgage Real Estate
Investment Trusts – 2.7%
   
60,662   Blackstone Mortgage Trust, Inc., Class A   $1,415,851
41,174   Starwood Property Trust, Inc.   750,191
        2,166,042
    Total Real Estate Investment Trusts   14,204,358
    (Cost $18,319,199)    
    Total Investments – 99.8%   81,258,972
    (Cost $90,529,298)    
    Net Other Assets and Liabilities – 0.2%   194,589
    Net Assets – 100.0%   $81,453,561
    
(a) Non-income producing security.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2022 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
  Total
Value at
9/30/2022
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks* $67,054,614 $67,054,614 $ $
Real Estate Investment Trusts* 14,204,358 14,204,358
Total Investments $81,258,972 $81,258,972 $ $
    
* See Portfolio of Investments for industry breakout.
Page 18
See Notes to Financial Statements

Table of Contents
First Trust Exchange-Traded Fund VI
Statements of Assets and Liabilities
September 30, 2022
  First Trust
SMID
Cap Rising
Dividend
Achievers
ETF
(SDVY)
  First Trust
Dorsey Wright
Momentum &
Value ETF
(DVLU)
  First Trust
Dorsey Wright
Momentum &
Low Volatility ETF
(DVOL)
ASSETS:          
Investments, at value

$ 818,322,788   $ 19,337,066   $ 81,258,972
Cash

791,404   18,521   77,073
Receivables:          
Dividends

941,664   23,950   160,765
Dividend reclaims

87    
Total Assets

820,055,943   19,379,537   81,496,810
LIABILITIES:          
Payables:          
Investment advisory fees

434,740   10,322   43,249
Total Liabilities

434,740   10,322   43,249
NET ASSETS

$819,621,203   $19,369,215   $81,453,561
NET ASSETS consist of:          
Paid-in capital

$ 1,035,161,833   $ 32,959,122   $ 111,142,463
Par value

355,000   9,500   34,000
Accumulated distributable earnings (loss)

(215,895,630)   (13,599,407)   (29,722,902)
NET ASSETS

$819,621,203   $19,369,215   $81,453,561
NET ASSET VALUE, per share

$23.09   $20.39   $23.96
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share)

35,500,002   950,002   3,400,002
Investments, at cost

$1,005,213,394   $21,205,081   $90,529,298
See Notes to Financial Statements
Page 19

Table of Contents
First Trust Exchange-Traded Fund VI
Statements of Operations
For the Year Ended September 30, 2022
  First Trust
SMID
Cap Rising
Dividend
Achievers
ETF
(SDVY)
  First Trust
Dorsey Wright
Momentum &
Value ETF
(DVLU)
  First Trust
Dorsey Wright
Momentum &
Low Volatility ETF
(DVOL)
INVESTMENT INCOME:          
Dividends

$ 19,672,042   $ 549,320   $ 1,803,013
Interest

 8,940    159    772
Foreign withholding tax

(36,758)   (1,129)  
Other

   44  
Total investment income

19,644,224   548,394   1,803,785
EXPENSES:          
Investment advisory fees

 4,135,646    146,712    659,345
Total expenses

4,135,646   146,712   659,345
NET INVESTMENT INCOME (LOSS)

15,508,578   401,682   1,144,440
NET REALIZED AND UNREALIZED GAIN (LOSS):          
Net realized gain (loss) on:          
Investments

(33,667,645)   (1,910,979)   (6,255,044)
In-kind redemptions

9,129,522   331,109   10,836,919
Net realized gain (loss)

(24,538,123)   (1,579,870)    4,581,875
Net change in unrealized appreciation (depreciation) on:          
Investments

(182,334,771)   (1,474,104)   (18,738,146)
NET REALIZED AND UNREALIZED GAIN (LOSS)

(206,872,894)   (3,053,974)   (14,156,271)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS

$(191,364,316)   $(2,652,292)   $(13,011,831)
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Table of Contents
First Trust Exchange-Traded Fund VI
Statements of Changes in Net Assets
  First Trust
SMID
Cap Rising
Dividend Achievers
ETF
(SDVY)
  First Trust
Dorsey Wright
Momentum &
Value ETF
(DVLU)
  Year
Ended
9/30/2022
  Year
Ended
9/30/2021
  Year
Ended
9/30/2022
  Year
Ended
9/30/2021
OPERATIONS:              
Net investment income (loss)

$ 15,508,578   $ 1,215,419   $ 401,682   $ 403,881
Net realized gain (loss)

 (24,538,123)    4,399,493    (1,579,870)    7,489,708
Net change in unrealized appreciation (depreciation)

 (182,334,771)    (4,309,095)    (1,474,104)    (1,439,711)
Net increase (decrease) in net assets resulting from operations

(191,364,316)   1,305,817   (2,652,292)   6,453,878
DISTRIBUTIONS TO SHAREHOLDERS FROM:              
Investment operations

 (14,025,016)    (1,005,851)    (416,941)    (376,450)
SHAREHOLDER TRANSACTIONS:              
Proceeds from shares sold

 937,688,574    225,198,706    5,097,895    63,958,085
Cost of shares redeemed

 (123,351,150)    (24,875,461)    (8,523,685)    (58,491,461)
Net increase (decrease) in net assets resulting from shareholder transactions

814,337,424   200,323,245   (3,425,790)   5,466,624
Total increase (decrease) in net assets

 608,948,092    200,623,211    (6,495,023)    11,544,052
NET ASSETS:              
Beginning of period

 210,673,111    10,049,900    25,864,238    14,320,186
End of period

$819,621,203   $210,673,111   $19,369,215   $25,864,238
CHANGES IN SHARES OUTSTANDING:              
Shares outstanding, beginning of period

 7,450,002    550,002    1,100,002    950,002
Shares sold

 32,800,000    7,800,000    200,000    2,900,000
Shares redeemed

 (4,750,000)    (900,000)    (350,000)    (2,750,000)
Shares outstanding, end of period

35,500,002   7,450,002   950,002   1,100,002
Page 22
See Notes to Financial Statements

Table of Contents
First Trust
Dorsey Wright
Momentum &
Low Volatility
ETF (DVOL)
Year
Ended
9/30/2022
  Year
Ended
9/30/2021
     
$ 1,144,440   $ 436,137
 4,581,875    24,241,948
 (18,738,146)    750,009
(13,011,831)   25,428,094
     
 (1,071,096)    (398,380)
     
 93,110,294    173,667,860
 (118,688,168)    (202,257,238)
(25,577,874)   (28,589,378)
 (39,660,801)    (3,559,664)
     
 121,114,362    124,674,026
$81,453,561   $121,114,362
     
 4,400,002    5,550,002
 3,300,000    6,800,000
 (4,300,000)    (7,950,000)
3,400,002   4,400,002
See Notes to Financial Statements
Page 23

Table of Contents
First Trust Exchange-Traded Fund VI
Financial Highlights
For a share outstanding throughout each period
First Trust SMID Cap Rising Dividend Achievers ETF (SDVY)  
  Year Ended September 30,    Period
Ended
9/30/2018 (a)
2022   2021   2020   2019  
Net asset value, beginning of period

$ 28.28   $ 18.27   $ 20.37   $ 21.28   $ 19.94
Income from investment operations:                  
Net investment income (loss)

0.51   0.36   0.33   0.35   0.26
Net realized and unrealized gain (loss)

(5.21)   9.99   (2.08)   (0.92)   1.31
Total from investment operations

(4.70)   10.35   (1.75)   (0.57)   1.57
Distributions paid to shareholders from:                  
Net investment income

(0.49)   (0.34)   (0.35)   (0.34)   (0.23)
Net asset value, end of period

$23.09   $28.28   $18.27   $20.37   $21.28
Total return (b)

(16.78)%   56.77%   (8.56)%   (2.59)%   7.92%
Ratios to average net assets/supplemental data:                  
Net assets, end of period (in 000’s)

$ 819,621   $ 210,673   $ 10,050   $ 7,128   $ 4,257
Ratio of total expenses to average net assets

0.60%   0.60%   0.60%   0.60%   0.60%(c)
Ratio of net investment income (loss) to average net assets

2.25%   1.77%   1.83%   1.95%   1.49%(c)
Portfolio turnover rate (d)

86%   36%   76%   78%   72%
    
(a) Inception date is November 1, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established.
(b) Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year.
(c) Annualized.
(d) Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions.
Page 24
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Table of Contents
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Dorsey Wright Momentum & Value ETF (DVLU)  
  Year Ended September 30,    Period
Ended
9/30/2018 (a)
2022   2021   2020   2019  
Net asset value, beginning of period

$ 23.51   $ 15.07   $ 18.52   $ 19.46   $ 19.98
Income from investment operations:                  
Net investment income (loss)

0.40   0.29   0.25   0.33   0.02
Net realized and unrealized gain (loss)

(3.11)   8.42   (3.44)   (0.94)   (0.54)
Total from investment operations

(2.71)   8.71   (3.19)   (0.61)   (0.52)
Distributions paid to shareholders from:                  
Net investment income

(0.41)   (0.27)   (0.26)   (0.33)  
Net asset value, end of period

$20.39   $23.51   $15.07   $18.52   $19.46
Total return (b)

(11.71)%   57.98%   (17.19)%   (3.04)%   (2.60)%
Ratios to average net assets/supplemental data:                  
Net assets, end of period (in 000’s)

$ 19,369   $ 25,864   $ 14,320   $ 19,451   $ 13,625
Ratio of total expenses to average net assets

0.60%   0.60%   0.60%   0.60%   0.60%(c)
Ratio of net investment income (loss) to average net assets

1.64%   1.68%   1.56%   2.01%