Annual Report
September 30, 2023
First Trust Exchange-Traded Fund II
Book 1
First Trust STOXX® European Select Dividend Index Fund
(FDD)
First Trust Alerian Disruptive Technology Real Estate ETF
(DTRE)
First Trust Dow Jones Global Select Dividend Index Fund
(FGD)
First Trust Global Wind Energy ETF (FAN)
First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD)
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure
Index Fund (GRID)
First Trust Indxx Global Natural Resources Income ETF
(FTRI)
First Trust Indxx Global Agriculture ETF (FTAG)
First Trust Indxx NextG ETF (NXTG)
First Trust S-Network Future Vehicles & Technology ETF
(CARZ)
First Trust Cloud Computing ETF (SKYY)
First Trust International Equity Opportunities ETF (FPXI)
First Trust Nasdaq Cybersecurity ETF (CIBR)
First Trust IPOX® Europe Equity Opportunities ETF (FPXE)
First Trust Dow Jones International Internet ETF (FDNI)

Table of Contents
First Trust Exchange-Traded Fund II
Annual Report
September 30, 2023
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134

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 II (the “Trust”) described in this report (each such series is referred to as a “Fund” and collectively, as 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 webpage 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 its prospectus, statement of additional information, and other Fund regulatory filings.
Page 1

Shareholder Letter
First Trust Exchange-Traded Fund II
Annual Letter from the Chairman and CEO
September 30, 2023
Dear Shareholders,
First Trust is pleased to provide you with the annual report for certain series of the First Trust Exchange-Traded Fund II (the “Funds”), which contains detailed information about the Funds for the twelve months ended September 30, 2023.
A famous financial industry quote came to mind as I was sizing up the current business climate:“Wall Street has a few prudent principles; the trouble is that they are always forgotten when they are most needed.” The past year has been a time when those who stuck with their principles were rewarded, in my opinion. The financial markets continue to battle a myriad of headwinds, from geopolitical uncertainty resulting from war (Israel and Hamas and the conflict between Russia and Ukraine), to slowing global economic growth and inflation. Inflation, for one, has remained persistently high. A common measure of inflation is the 12-month rate of change in the Consumer Price Index (“CPI”). The CPI stood at 3.7% on September 30, 2023, significantly lower than its most recent high of 9.1% set on June 30, 2022, but up from its most recent low of 3.0% on June 30, 2023. Considering this, as well as other better-than-expected economic data, the Federal Reserve recently noted that the Federal Funds target rate will need to remain elevated for a longer period than previously expected.
As many investors are likely aware, a higher Federal Funds target rate has deep implications for consumers. Perhaps the most obvious area impacted by higher rates is housing. The national average for a 30-year mortgage stood at 7.99% as of October 18, 2023, up from 3.22% on October 20, 2021. Higher mortgage rates, coupled with high home prices, are stretching U.S. home affordability. The monthly payment on a median-priced home ($407,100 in August 2023) with a 20% down payment, and a mortgage rate of 7.99%, comes in at $2,387. It is not just mortgage rates that are pressuring the budgets of U.S. households. Debt payments on car loans and credit cards are showing signs of weakness as well. Data from the Federal Reserve Bank of New York revealed that the rate of new credit card and new auto loan delinquencies stood at 7.2% and 7.3%, respectively, in the second quarter of 2023 (most recent data), surpassing pre-pandemic levels.
While headwinds to the global economy exist, not all the news is bad. Driven by technological developments in artificial intelligence, the U.S. equity markets have had a phenomenal year. Year-to-date through September 30, 2023, the S&P 500® Index has enjoyed a total return of 13.07%. Additionally, the U.S. exported a record 20.4 billion cubic feet per day (“Bcf/d”) of natural gas and 11.6 Bcf/d of liquefied natural gas (“LNG”) over the first six months of the year, making the U.S. the world’s largest exporter of LNG during the period. It can be tempting to deviate from fundamentals when times get tough, but we continue to encourage investors to hold fast to their principles; they will serve you for years to come.
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.
Page 2

Market Overview
First Trust Exchange-Traded Fund II
Annual Report
September 30, 2023 
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 latest global growth forecast from the International Monetary Fund (“IMF”) released in October 2023 sees real gross domestic product growth rising by 3.0% worldwide in 2023, up from its 2.9% projection in January 2023. The IMF is currently forecasting a 2.1% growth rate for the U.S., up from its January 2023 estimate of 1.4%. Emerging Market and Developing Economies are expected to grow by 4.0% this year, unchanged from the IMF’s 4.0% estimate in January 2023. The IMF notes that risks to their global outlook remain tilted to the downside, citing the real estate crisis in China, the potential for increased volatility among commodity prices, and uncomfortably high inflation, among other reasons, for their outlook.
In the U.S., inflation, as measured by the Consumer Price Index (“CPI”), stood at 3.7% on a trailing 12-month basis at the end of September 2023, according to the U.S. Bureau of Labor Statistics. While this is significantly lower than the most recent high of 9.1% in June 2022, the September 2023 CPI reading reflects a re-acceleration in the metric when compared to its most recent low of 3.0% set on June 30, 2023.
Performance of Global Stocks and Bonds
The major U.S. stock indices delivered positive results over the past 12 months. The S&P 500® (the “Index”), S&P MidCap 400® and S&P SmallCap 600® Indices posted total returns of 21.62%, 15.51% and 10.08%, respectively, for the 12-month period ended September 30, 2023. Nine of the 11 major sectors that comprise the Index were positive on a total return basis. The top performer was the Information Technology sector, up 41.10%, while the worst showing came from the Utilities sector, down 7.02%.
A Bloomberg survey of twenty-two equity strategists found that their average 2023 year-end price target for the Index was 4,370 as of October 18, 2023, according to its own release. The highest and lowest estimates were 4,900 and 3,700, respectively. The Index closed trading on September 29, 2023, at 4,288.05. Bloomberg’s consensus year-over-year earnings growth rate estimates for the Index for the 2023 and 2024 calendar years stood at -2.83% and 11.89%, respectively, as of October 13, 2023.
The broader foreign stock indices experienced positive total returns over the past year. For the 12-month period ended September 30, 2023, the MSCI World ex USA and MSCI Emerging Markets equity indices posted total returns of 24.00% (USD) and 11.70% (USD), respectively, according to Bloomberg. The major foreign bond indices were also up over the same period. The Bloomberg Global Aggregate Index of higher quality debt posted a total return of 2.24% (USD), while the Bloomberg EM Hard Currency Aggregate Index of emerging markets debt rose by 8.57% (USD), according to Bloomberg. The U.S. dollar fell 5.30% over the past 12 months against a basket of major currencies, as measured by the U.S. Dollar Index. The decrease in the dollar provided a boost to the performance of both foreign stock and bond indices, in our opinion.
Results were also positive in the U.S. bond market over the period. The top performing major debt group we track was intermediate U.S. high yield bonds. The Bloomberg Intermediate U.S. High Yield Index posted a total return of 10.34% for the 12-month period ended September 30, 2023. The worst performing U.S. debt group that we track was the Ginnie Mae 30-Year Bond. The Bloomberg Ginnie Mae 30-Year Index posted a total return of 0.29%. The yield on the benchmark 10-Year Treasury Note (“T-Note”) rose by 74 basis points in the period to close at 4.57% on September 29, 2023, according to Bloomberg. For comparative purposes, the average yield on the 10-Year T-Note was 2.27% for the 10-year period ended September 30, 2023.
Page 3

Fund Performance Overview (Unaudited)
First Trust STOXX® European Select Dividend Index Fund (FDD)
First Trust STOXX® European Select Dividend Index 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 STOXX® Europe Select Dividend 30 Index (the “STOXX Index”). The shares of the Fund are listed and trade on the NYSE Arca, Inc. under the ticker symbol “FDD.” 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 STOXX Index.
The STOXX Index is compiled and maintained by STOXX Limited (the “Index Provider”). According to the Index Provider, the STOXX Index consists of 30 high dividend-yielding securities selected from the STOXX® Europe 600 Index, including secondary lines of those companies (where there are multiple lines of equity capital in a company), which covers 18 European countries:Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom. In addition, a company must have a non-negative five-year dividend-per-share growth rate and a dividend-to-earnings ratio of 60% or less.
Performance
 
 
Average Annual Total Returns
Cumulative Total Returns
 
1 Year
Ended
9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(8/27/07)
to 9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(8/27/07)
to 9/30/23
Fund Performance
 
 
 
 
 
 
 
NAV
23.52%
1.52%
2.99%
-1.49%
7.82%
34.32%
-21.49%
Market Price
23.81%
1.51%
2.91%
-1.51%
7.78%
33.27%
-21.74%
Index Performance
 
 
 
 
 
 
 
STOXX® Europe Select Dividend 30 Index
23.18%
1.82%
3.31%
-1.09%
9.45%
38.52%
-16.17%
STOXX® Europe 600 Index
28.82%
3.95%
3.95%
2.44%
21.36%
47.32%
47.33%
MSCI Europe Index
28.85%
3.96%
3.83%
2.26%
21.41%
45.57%
43.30%
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated a net asset value (“NAV”) return of 23.52% during the 12-month period covered by this report. During the same period, the MSCI Europe Index (the “Benchmark”) generated a return of 28.85%. The largest allocations were investments in the United Kingdom (“UK”) and France. The allocation to the UK was 20.7% and contributed 3.1% to the Fund’s return. The allocation to France was 17.6% and contributed 6.9% to the Fund’s return, which was the greatest contribution of any country represented in the Fund. The largest negative contribution to the Fund’s overall return came from the small allocation to Luxembourg. These investments received an allocation of 1.3% and caused a -2.4% drag on the Fund’s performance. However, within the investments in Luxembourg, almost the entire impact on the Fund’s return came from one security, Aroundtown S.A. The Fund’s currency exposure had a 9.6% impact on the Fund’s performance during the period covered by this report.

The STOXX® Europe Select Dividend 30 Index (“STOXX Index”) is the intellectual property (including registered trademarks) of STOXX Ltd., Zug, Switzerland (“STOXX”), Deutsche Börse Group or their licensors, which is used under license. The Fund is neither sponsored nor promoted, distributed or in any other manner supported by STOXX Deutsche Börse Group or their licensors, research partners or data providers and STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not give any warranty, and exclude any liability (whether in negligence or otherwise) with respect thereto generally or specifically in relation to any errors, omissions or interruptions in the STOXX Index or its data.
Page 4

Fund Performance Overview (Unaudited) (Continued)
First Trust STOXX® European Select Dividend Index Fund (FDD) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Financials
33.6%
Materials
18.9
Utilities
12.9
Consumer Discretionary
10.9
Industrials
9.1
Communication Services
5.8
Real Estate
4.7
Energy
4.1
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Glencore PLC
4.9%
Taylor Wimpey PLC
4.9
AP Moller - Maersk A/S, Class A
4.6
Yara International ASA
4.5
ACS Actividades de Construccion y Servicios
S.A.
4.4
Rio Tinto PLC
4.3
Endesa S.A.
4.2
Legal & General Group PLC
4.1
Aker BP ASA
4.1
Credit Agricole S.A.
3.7
Total
43.7%
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.
Page 5

Fund Performance Overview (Unaudited) (Continued)
First Trust Alerian Disruptive Technology Real Estate ETF (DTRE)
First Trust Alerian Disruptive Technology Real Estate ETF (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 Alerian Disruptive Technology Real Estate Index (the “Index”). The shares of the Fund are listed and trade on the NYSE Arca, Inc. under the ticker symbol “DTRE.” The Fund will normally invest at least 90% of its net assets (plus any borrowings for investment purposes) in the common stocks, real estate investment trusts (“REITs”) and depositary receipts that comprise the Index.
The Index is owned and is developed, maintained and sponsored by VettaFi LLC (the “Index Provider”). According to the Index Provider, the Index includes common stocks, REITs and depositary receipts of companies listed on a global securities exchange and included in the Global Industry Classification Standard Real Estate sector within the S-Network Global 5000 Index and the S-Network Global REIT Index and derive at least 50 percent of their revenues from the following disruptive technology business segments: (i) Rapid Data Transfer; (ii) Distributed Data Handling; or (iii) E-Commerce Warehousing.
Performance
 
 
Average Annual Total Returns
Cumulative Total Returns
 
1 Year
Ended
9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(8/27/07)
to 9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(8/27/07)
to 9/30/23
Fund Performance
 
 
 
 
 
 
 
NAV
4.42%
-0.57%
2.46%
1.55%
-2.81%
27.49%
28.08%
Market Price
5.93%
-0.55%
2.44%
1.54%
-2.74%
27.23%
27.81%
Index Performance
 
 
 
 
 
 
 
Alerian Disruptive Technology Real Estate
Index(1)(2)
4.19%
N/A
N/A
N/A
N/A
N/A
N/A
FTSE EPRA/NAREIT Developed Index
2.72%
-0.30%
2.97%
2.21%
-1.48%
33.98%
42.24%
S&P Global REIT Index(3)
2.03%
0.01%
3.12%
2.10%
0.04%
35.99%
39.79%
MSCI World REIT Index(3)
-2.17%
1.39%
4.13%
2.31%
7.16%
49.81%
44.32%
MSCI World Real Estate Index(2)(3)
-0.95%
0.14%
N/A
N/A
0.68%
N/A
N/A
(1)
On September 30, 2022, the Fund’s underlying index changed from the FTSE EPRA/NAREIT Developed Index to the Alerian Disruptive
Technology Real Estate Index. Therefore, the Fund’s performance and historical returns shown for the periods prior to this date are not
necessarily indicative of the performance that the Fund, based on its current index, would have generated.
(2)
Performance data is not available for all the periods shown in the table for the index because performance data does not exist for some of the
entire periods.
(3)
Prior to February 1, 2023, the Fund’s primary benchmark indices were the S&P Global REIT Index and the MSCI World REIT Index. Effective
February 1, 2023, the Fund’s primary benchmark index became the MSCI World Real Estate Index. The Fund’s investment advisor believes the
MSCI World Real Estate Index better reflects the investment strategies of the Fund.
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated a NAV return of 4.42% during the 12-month period covered by this report. During the same period, the MSCI World Real Estate Index (the “Benchmark”) generated a return of -0.95%. The Fund invested 74.8% of its assets in securities within the United States. These investments accounted for 4.1% of the Fund’s return. Investments in Japan caused the most drag on the Fund’s return, with an allocation of 8.9% in the Fund and a contribution to return of -1.1%. The Fund’s currency exposure had a 0.9% impact on performance during the period covered by this report.

Alerian and Alerian Disruptive Technology Real Estate Index are service marks of VettaFi LLC and have been licensed for use by First Trust Advisors L.P. The Fund is not issued, sponsored, endorsed, sold or promoted by VettaFi LLC or its affiliates (collectively, “VettaFi”). VettaFi makes no representation or warranty, express or implied, to the purchasers or 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 market performance.
Page 6

Fund Performance Overview (Unaudited) (Continued)
First Trust Alerian Disruptive Technology Real Estate ETF (DTRE) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Real Estate
100.0%
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Digital Realty Trust, Inc.
7.6%
Equinix, Inc.
6.7
Prologis, Inc.
6.6
American Tower Corp.
6.2
SBA Communications Corp.
6.1
Crown Castle, Inc.
5.9
STAG Industrial, Inc.
5.1
Rexford Industrial Realty, Inc.
4.8
DigitalBridge Group, Inc.
4.8
Terreno Realty Corp.
4.8
Total
58.6%
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.
Page 7

Fund Performance Overview (Unaudited) (Continued)
First Trust Dow Jones Global Select Dividend Index Fund (FGD)
First Trust Dow Jones Global Select Dividend Index 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 Dow Jones Global Select Dividend Index (the “Index”). The shares of the Fund are listed and trade on the NYSE Arca, Inc. under the ticker symbol “FGD.” 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 Index is compiled and maintained by S&P Dow Jones Indices LLC (the “Index Provider”). According to the Index Provider, the Index is an indicated annual dividend yield weighted index of 100 stocks selected from the developed-market portion of the Dow Jones World IndexSM. Indicated annual dividend yield is a stock’s unadjusted indicated annual dividend (not including any special dividends) divided by its unadjusted price.
Performance
 
 
Average Annual Total Returns
Cumulative Total Returns
 
1 Year
Ended
9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(11/21/07)
to 9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(11/21/07)
to 9/30/23
Fund Performance
 
 
 
 
 
 
 
NAV
18.65%
2.21%
3.23%
2.91%
11.56%
37.38%
57.66%
Market Price
18.40%
2.17%
3.15%
2.87%
11.31%
36.36%
56.73%
Index Performance
 
 
 
 
 
 
 
Dow Jones Global Select Dividend Index
18.47%
2.46%
3.41%
3.09%
12.94%
39.87%
62.11%
Dow Jones World Developed Markets
IndexSM
22.00%
6.94%
8.23%
6.25%
39.87%
120.58%
161.52%
MSCI World Index
21.95%
7.26%
8.26%
6.01%
41.95%
121.25%
152.18%
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated a NAV return of 18.65% during the 12-month period covered by this report. During the same period, the MSCI World Index (the “Benchmark”) generated a return of 21.95%. The Fund’s investments were spread across many countries. The greatest allocation was 12.7% to South Korea, which caused a 5.0% contribution to the Fund’s return. The 11.0% allocation to Canada contributed 1.2% to the Fund’s return. Securities in the United States carried an average weight of 9.0% and contributed only 0.5% to the Fund’s return. Investments in Japan received an allocation of 8.8% and contributed 3.7% to the Fund’s return. There weren’t many negative contributors to the Fund’s return. The greatest source of drag was -1.0% from investments in Sweden. The Fund’s currency exposure had a 5.1% impact on performance during the period covered by this report.

Dow Jones Global Select Dividend Index (“Index”) is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and has been licensed for use by First Trust. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark  of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by First Trust. The Fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the Index.
Page 8

Fund Performance Overview (Unaudited) (Continued)
First Trust Dow Jones Global Select Dividend Index Fund (FGD) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Financials
35.5%
Industrials
12.8
Materials
11.3
Energy
9.1
Communication Services
7.7
Consumer Discretionary
7.4
Utilities
6.7
Consumer Staples
6.0
Real Estate
3.5
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Mitsui OSK Lines Ltd.
2.6%
Nippon Yusen KK
2.2
Peyto Exploration & Development Corp.
2.0
Hapag-Lloyd AG
1.8
Sitio Royalties Corp., Class A
1.8
Industrial Bank of Korea
1.6
AP Moller - Maersk A/S, Class A
1.5
BNK Financial Group, Inc.
1.5
Woori Financial Group, Inc.
1.5
Enagas S.A.
1.4
Total
17.9%
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.
Page 9

Fund Performance Overview (Unaudited) (Continued)
First Trust Global Wind Energy ETF (FAN)
First Trust Global Wind Energy ETF (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 ISE Clean Edge Global Wind EnergyTM Index (the “Index”). The shares of the Fund are listed and trade on the NYSE Arca, Inc. under the ticker symbol “FAN.” 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 Index is developed, maintained and sponsored by Nasdaq, Inc. (the “Index Provider”). According to the Index Provider, the Index provides a benchmark for investors interested in tracking public companies throughout the world that are active in the wind energy industry. According to the Index Provider, in order to be eligible for inclusion in the Index, a security must be issued by a company that is actively engaged in some aspect of the wind energy industry, such as the development or management of a wind farm, the production or distribution of electricity generated by wind power, or involvement in the design, manufacture or distribution of machinery or materials designed specifically for the wind energy industry. In addition, in order to be eligible for inclusion in the Index a security must have a market capitalization of at least $100 million, a minimum three-month average daily dollar trading volume of $500,000, a minimum free float of 25%, be listed on an Index-eligible global exchange and have seasoned on an Index-eligible global exchange for at least three months.
Performance
 
 
Average Annual Total Returns
Cumulative Total Returns
 
1 Year
Ended
9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(6/16/08)
to 9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(6/16/08)
to 9/30/23
Fund Performance
 
 
 
 
 
 
 
NAV
-2.21%
5.00%
5.95%
-2.68%
27.61%
78.30%
-33.98%
Market Price
-2.62%
4.97%
5.86%
-2.72%
27.44%
76.75%
-34.36%
Index Performance
 
 
 
 
 
 
 
ISE Clean Edge Global Wind EnergyTM
Index
-1.69%
5.86%
6.79%
-1.89%
32.92%
92.90%
-25.31%
Russell 3000® Index
20.46%
9.14%
11.28%
9.72%
54.88%
191.20%
313.17%
MSCI World Index
21.95%
7.26%
8.26%
6.49%
41.95%
121.25%
161.41%
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated a NAV return of -2.21% during the 12-month period covered by this report. During the same period, the MSCI World Index (the “Benchmark”) generated a return of 21.95%. Investments in the Utilities and Capital Goods sectors constituted almost the entire Fund during the period covered by this report. The Utilities sector received an allocation of 62.5% and contributed -9.1% to the Fund’s return. Investments in the Capital Goods sector carried an average weight of 33.7% and contributed 6.8% to the Fund’s return. The Fund’s currency exposure had a 4.6% impact on performance during the period covered by this report.

Nasdaq®, Clean Edge®, and ISE Clean Edge Global Wind EnergyTM Index are registered trademarks and service marks of Nasdaq, Inc. and Clean Edge, Inc., respectively (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 its 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.
Page 10

Fund Performance Overview (Unaudited) (Continued)
First Trust Global Wind Energy ETF (FAN) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Utilities
59.7%
Industrials
35.7
Materials
4.3
Energy
0.3
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Vestas Wind Systems A/S
8.1%
EDP Renovaveis S.A.
7.8
Orsted A/S
7.4
Northland Power, Inc.
7.1
China Longyuan Power Group Corp., Ltd.,
Class H
5.0
Boralex, Inc., Class A
3.3
ERG S.p.A.
2.3
Nordex SE
2.3
SKF AB, Class B
2.2
Prysmian S.p.A.
2.1
Total
47.6%
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.
Page 11

Fund Performance Overview (Unaudited) (Continued)
First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD)
First Trust Alerian U.S. NextGen Infrastructure ETF (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 Alerian U.S. NextGen Infrastructure Index (the “Index”). The shares of the Fund are listed and trade on the NYSE Arca, Inc. under the ticker symbol “RBLD.” The Fund will normally invest in at least 90% of its net assets (plus any borrowings for investment purposes) in the common stocks and real estate investment trusts (“REITs”) that comprise the Index.
The Index is developed, maintained and sponsored by VettaFi LLC (the “Index Provider”). According to the Index Provider, the Index seeks to provide exposure to U.S. infrastructure companies with securities listed on recognized U.S. securities exchanges that build, operate and own infrastructure assets. U.S. infrastructure companies are companies that are domiciled and incorporated in the United States and are included in the Global Industry Classification (“GICS”) sub-industries or custom segments within the S-Network US Equity WR 3000 Index. According to the Index Provider, in addition to comprising one of the GICS sub-industries or custom segments, in order to be eligible for inclusion in the Index a company’s stock must trade on a recognized U.S. stock exchange and meet the size, float and liquidity standards of the Index.
Performance
 
 
Average Annual Total Returns
Cumulative Total Returns
 
1 Year
Ended
9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(10/13/08)
to 9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(10/13/08)
to 9/30/23
Fund Performance
 
 
 
 
 
 
 
NAV
18.23%
-0.26%
2.38%
5.37%
-1.29%
26.50%
118.68%
Market Price
18.27%
-0.19%
2.38%
5.37%
-0.97%
26.55%
118.71%
Index Performance
 
 
 
 
 
 
 
Alerian U.S. NextGen Infrastructure
Index(1)(2)
18.98%
N/A
N/A
N/A
N/A
N/A
N/A
MSCI World Industrials Index
27.56%
5.52%
7.33%
9.39%
30.82%
102.78%
283.31%
Russell 3000® Index
20.46%
9.14%
11.28%
12.23%
54.88%
191.20%
462.52%
MSCI USA Infrastructure Index(2)
-2.21%
3.25%
5.75%
N/A
17.35%
74.84%
N/A
(1)
On July 29, 2022, the Fund’s underlying index changed from the ISE Global Engineering and ConstructionTM Index to Alerian U.S. NextGen
Infrastructure Index. Therefore, the Fund’s performance and historical returns shown for the periods prior to this date are not necessarily
indicative of the performance that the Fund, based on its current index, would have generated. Since the Fund’s current underlying index had an
inception date of April 30, 2021, it was not in existence for all the periods shown.
(2)
Performance data is not available for all the periods shown in the table for the index because performance data does not exist for some of the
entire periods.
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated a NAV return of 18.23% during the 12-month period covered by this report. During the same period, the MSCI World Industrials Index (the “Benchmark”) generated a return of 27.56%. The Fund allocated 94.9% to securities within the United States. Within these investments, 38.8% of the Fund was allocated to the Industrials sector which contributed 11.0% to the Fund’s overall return. There were very few negative contributors to the Fund’s return, but the most negative contributor were the investments in the Utilities sector. These investments received an allocation of 30.0% and accounted for -0.5% drag on the Fund’s performance.

Alerian and Alerian U.S. NextGen Infrastructure Index (“Index”) are service marks of VettaFi LLC and have been licensed for use by First Trust Advisors L.P. The Fund is not issued, sponsored, endorsed, sold or promoted by VettaFi LLC or its affiliates (collectively, “VettaFi”). VettaFi makes no representation or warranty, express or implied, to the purchasers or 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 market performance.
Page 12

Fund Performance Overview (Unaudited) (Continued)
First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Industrials
43.7%
Utilities
28.7
Energy
8.7
Information Technology
8.2
Materials
6.0
Real Estate
4.7
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Vertiv Holdings Co.
1.5%
Vistra Corp.
1.3
Akamai Technologies, Inc.
1.2
Constellation Energy Corp.
1.2
Okta, Inc.
1.2
Lennox International, Inc.
1.2
Targa Resources Corp.
1.2
Halliburton Co.
1.2
Caterpillar, Inc.
1.1
Cheniere Energy, Inc.
1.1
Total
12.2%
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.
Page 13

Fund Performance Overview (Unaudited) (Continued)
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund (GRID)
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index 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 Nasdaq Clean Edge Smart Grid InfrastructureTM Index (the “Index”). The shares of the Fund are listed and trade on Nasdaq, Inc. under the ticker symbol “GRID.” 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.
Clean Edge, Inc. and Nasdaq, Inc. serve as index providers to the Index (the “Index Providers”). According to the Index Providers, the Index is designed to act as a transparent and liquid benchmark for the grid and electric energy infrastructure sector. The Index includes companies that are primarily engaged and involved in electric grid, electric meters and devices, networks, energy storage and management, and enabling software used by the smart grid infrastructure sector.
Performance
 
 
Average Annual Total Returns
Cumulative Total Returns
 
1 Year
Ended
9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(11/16/09)
to 9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(11/16/09)
to 9/30/23
Fund Performance
 
 
 
 
 
 
 
NAV
26.39%
15.80%
12.04%
9.76%
108.19%
211.76%
264.06%
Market Price
26.39%
15.58%
12.08%
9.75%
106.30%
212.72%
263.48%
Index Performance
 
 
 
 
 
 
 
Nasdaq Clean Edge Smart Grid
InfrastructureTM Index
26.72%
16.82%
12.92%
10.66%
117.59%
237.20%
307.47%
Russell 3000® Index
20.46%
9.14%
11.28%
12.17%
54.88%
191.20%
392.02%
S&P Composite 1500® Industrials Index
25.78%
7.72%
10.27%
12.08%
45.03%
165.86%
386.68%
MSCI World Industrials Index
27.56%
5.52%
7.33%
8.74%
30.82%
102.78%
219.79%
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated a NAV return of 26.39% during the 12-month period covered by this report. During the same period, the S&P Composite 1500® Industrials Index (the “Benchmark”) generated a return of 25.78%. The greatest allocation in the Fund during the period covered by this report was to investments in the Electrical Equipment industry. This industry received an allocation of 34.4% and contributed 15.5% to the Fund’s overall return, which was by far the greatest contribution to return of any industry. No industry had a significantly negative contribution to the Fund’s return. The Fund’s currency exposure had a 3.9% impact on performance during the period covered by this report.

Nasdaq®, Clean Edge®, and Nasdaq Clean Edge Smart Grid InfrastructureTM Index are registered trademarks and service marks of Nasdaq, Inc. and Clean Edge, Inc. respectively (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 its 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.
Page 14

Fund Performance Overview (Unaudited) (Continued)
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund (GRID) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Industrials
52.5%
Information Technology
20.8
Utilities
19.8
Consumer Discretionary
6.9
Materials
0.0*
Total
100.0%
*
Amount is less than 0.01%.
Top Ten Holdings
% of Total
Long-Term
Investments
Schneider Electric SE
8.3%
ABB Ltd.
8.0
Eaton Corp. PLC
7.9
National Grid PLC
7.9
Johnson Controls International PLC
7.0
Aptiv PLC
4.2
Quanta Services, Inc.
3.8
Samsung SDI Co., Ltd.
3.5
Enphase Energy, Inc.
3.2
Hubbell, Inc.
3.0
Total
56.8%
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.
Page 15

Fund Performance Overview (Unaudited) (Continued)
First Trust Indxx Global Natural Resources Income ETF (FTRI)
First Trust Indxx Global Natural Resources Income ETF (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 Indxx Global Natural Resources Income Index (the “Index”). The shares of the Fund are listed and traded on Nasdaq, Inc. under the ticker symbol “FTRI.” 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 Index is owned and is developed, maintained and sponsored by Indxx, Inc. (the “Index Provider”). According to the Index Provider, the Index is a free float adjusted market capitalization weighted index designed to measure the market performance of the 50 highest dividend yielding companies involved in the upstream (i.e., generally exploration and production) segment of the natural resources sector.
Performance
 
 
Average Annual Total Returns
Cumulative Total Returns
 
1 Year
Ended
9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(3/11/10)
to 9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(3/11/10)
to 9/30/23
Fund Performance
 
 
 
 
 
 
 
NAV
10.17%
6.50%
-1.01%
-2.29%
37.04%
-9.70%
-26.97%
Market Price
9.75%
6.42%
-1.04%
-2.33%
36.51%
-9.88%
-27.34%
Index Performance
 
 
 
 
 
 
 
Indxx Global Natural Resources Income
Index(1)
11.72%
7.68%
N/A
N/A
44.78%
N/A
N/A
MSCI ACWI Materials Index
16.80%
5.12%
4.86%
3.64%
28.36%
60.75%
62.45%
MSCI ACWI Index
20.80%
6.46%
7.56%
7.99%
36.76%
107.21%
183.52%
(1)
Effective on the close of business December 18, 2015, the Fund’s underlying index changed from the ISE Global CopperTM Index to the Indxx
Global Natural Resources Income Index. Therefore, the Fund’s performance and total returns shown for the period prior to December 18, 2015,
are not necessarily indicative of the performance the Fund, based on its current index, would have generated. Since the Fund’s current underlying
index had an inception date of June 1, 2015, it was not in existence for all the periods disclosed.
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated a NAV return of 10.17% during the 12-month period covered by this report. During the same period, the MSCI ACWI Materials Index (the “Benchmark”) generated a return of 16.80%. The Fund allocated 35.5% to the Metals & Mining industry and 30.6% to Oil, Gas & Consumable Fuels. Metals & Mining contributed 6.0% to the Fund’s return, while investments in Oil, Gas & Consumable Fuels industry contributed 7.6%. The Chemicals industry received an allocation of 12.0% and contributed -2.1% to the Fund’s return. Investments in the Food Products industry received a 10.1% allocation and caused a -1.6% drag on the Fund’s return. The Fund’s currency exposure had a -0.1% impact on performance during the period covered by this report.

Indxx and Indxx Global Natural Resources Income Index (“Index”) are trademarks of Indxx, Inc. (“Indxx”) and have been licensed for use for certain purposes by First Trust. The Fund is not sponsored, endorsed, sold or promoted by Indxx, and Indxx makes no representation regarding the advisability of trading in such product. The Index is determined, composed and calculated by Indxx without regard to First Trust or the Fund.
Page 16

Fund Performance Overview (Unaudited) (Continued)
First Trust Indxx Global Natural Resources Income ETF (FTRI) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Energy
40.2%
Materials
39.7
Consumer Staples
13.3
Industrials
5.1
Utilities
1.7
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Petroleo Brasileiro S.A., ADR
10.1%
Woodside Energy Group Ltd.
9.7
Archer-Daniels-Midland Co.
9.2
Nutrien Ltd.
7.0
Ecopetrol S.A., ADR
4.5
Agnico Eagle Mines Ltd.
4.4
CF Industries Holdings, Inc.
3.9
Suzano S.A., ADR
3.4
Newcrest Mining Ltd.
3.3
Tyson Foods, Inc., Class A
3.3
Total
58.8%
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.
Page 17

Fund Performance Overview (Unaudited) (Continued)
First Trust Indxx Global Agriculture ETF (FTAG)
First Trust Indxx Global Agriculture ETF (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 Indxx Global Agriculture Index (the “Index”). The shares of the Fund are listed and traded on Nasdaq, Inc. under the ticker symbol “FTAG.” 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 Index is owned and is developed, maintained and sponsored by Indxx, Inc. (the “Index Provider”). According to the Index Provider, the Index is a market capitalization weighted index designed to measure the performance of companies that are directly or indirectly engaged in improving agricultural yields. The Index is composed of farmland companies and firms involved in chemicals and fertilizers, seeds, irrigation equipment, and farm machinery.
Performance
 
 
Average Annual Total Returns
Cumulative Total Returns
 
1 Year
Ended
9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(3/11/10)
to 9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(3/11/10)
to 9/30/23
Fund Performance
 
 
 
 
 
 
 
NAV
1.35%
2.21%
-6.81%
-10.66%
11.54%
-50.61%
-78.31%
Market Price
1.08%
2.19%
-6.84%
-10.69%
11.44%
-50.78%
-78.39%
Index Performance
 
 
 
 
 
 
 
Indxx Global Agriculture Index(1)
2.23%
3.32%
N/A
N/A
17.72%
N/A
N/A
MSCI ACWI Index
20.80%
6.46%
7.56%
7.99%
36.76%
107.21%
183.52%
MSCI ACWI Materials Index
16.80%
5.12%
4.86%
3.64%
28.36%
60.75%
62.45%
(1)
Effective on the close of business December 18, 2015, the Fund’s underlying index changed from the ISE Global PlatinumTM Index to the Indxx
Global Agriculture Index. Therefore, the Fund’s performance and total returns shown for the period prior to December 18, 2015, are not
necessarily indicative of the performance the Fund, based on its current Index, would have generated. Since the Fund’s new underlying index had
an inception date of June 1, 2015, it was not in existence for all the periods disclosed.
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated a NAV return of 1.35% during the 12-month period covered by this report. During the same period, the MSCI ACWI Materials Index (the “Benchmark”) generated a return of 16.80%. The Chemicals industry received the greatest allocation in the Fund during the period covered by this report. With an average weight of 50.9%, the allocation to this industry caused a -3.0% contribution to Fund’s performance. Meanwhile, the greatest positive contributor to the Fund’s return came from the second largest allocation, the Machinery industry. Investments in the Machinery industry received an allocation of 23.0% and contributed 3.4% to the Fund’s overall performance. The Fund’s currency exposure had a 0.9% impact on performance during the period covered by this report.

Indxx and Indxx Global Agriculture Index (“Index”) are trademarks of Indxx, Inc. (“Indxx”) and have been licensed for use for certain purposes by First Trust. The Fund is not sponsored, endorsed, sold or promoted by Indxx, and Indxx makes no representation regarding the advisability of trading in such product. The Index is determined, composed and calculated by Indxx without regard to First Trust or the Fund.
Page 18

Fund Performance Overview (Unaudited) (Continued)
First Trust Indxx Global Agriculture ETF (FTAG) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Materials
48.1%
Industrials
30.7
Health Care
9.3
Consumer Staples
7.2
Consumer Discretionary
4.7
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Deere & Co.
9.5%
Bayer AG
9.3
BASF SE
8.1
Corteva, Inc.
7.2
Mahindra & Mahindra Ltd.
4.7
Industries Qatar QSC
4.6
Nutrien Ltd.
4.6
Wilmar International Ltd.
3.6
Kubota Corp.
3.6
CF Industries Holdings, Inc.
3.4
Total
58.6%
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.
Page 19

Fund Performance Overview (Unaudited) (Continued)
First Trust Indxx NextG ETF (NXTG)
The First Trust Indxx NextG ETF (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 Indxx 5G & NextG Thematic IndexSM (the “Index”). The shares of the Fund are listed and trade on Nasdaq, Inc. under the ticker symbol “NXTG.” 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 Index is owned and is developed, maintained and sponsored by Indxx, Inc. (the “Index Provider”). According to the Index Provider, the Index is designed to track the performance of companies that have devoted, or have committed to devote, material resources to the research, development and application of fifth generation (5G) and next generation digital cellular technologies as they emerge.
Performance
 
 
Average Annual Total Returns
Cumulative Total Returns
 
1 Year
Ended
9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(2/17/11)
to 9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(2/17/11)
to 9/30/23
Fund Performance
 
 
 
 
 
 
 
NAV
24.01%
8.11%
9.29%
8.09%
47.67%
143.16%
166.89%
Market Price
23.90%
8.16%
9.29%
8.07%
47.99%
143.17%
166.09%
Index Performance
 
 
 
 
 
 
 
Indxx 5G & NextG Thematic IndexSM(1)(2)
25.29%
N/A
N/A
N/A
N/A
N/A
N/A
MSCI ACWI Information Technology
Index
35.88%
14.86%
16.94%
14.66%
99.94%
378.14%
462.05%
MSCI ACWI Index
20.80%
6.46%
7.56%
7.29%
36.76%
107.21%
142.84%
(1)
On May 30, 2019, the Fund’s underlying index changed from the Nasdaq CTA SmartphoneTM Index to the Indxx 5G & NextG Thematic
IndexSM. Therefore, the Fund’s performance and historical returns shown for the periods prior to this date are not necessarily indicative of the
performance that the Fund, based on its current index, would have generated.
(2)
Performance data is not available for all the periods shown in the table for the index because performance data does not exist for some of the
entire periods.
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated a NAV return of 24.01% during the 12-month period covered by this report. During the same period, the MSCI ACWI Information Technology Index (the “Benchmark”) generated a return of 35.88%. The industry with the greatest allocation in the Fund during the period covered by this report was the Semiconductors & Semiconductor Equipment industry. This industry received an average weight of 24.4% and contributed 11.8% to the Fund’s overall return, the greatest contribution to return of any industry in the Fund. The only industry with a negative contribution to the Fund’s return was the Specialized Real Estate Investment Trusts industry. This industry had a -0.6% contribution to the Fund’s return. The Fund’s currency exposure had a 1.0% impact on performance during the period covered by this report.

Indxx and Indxx 5G & NextG Thematic IndexSM (“Index”) are trademarks of Indxx, Inc. (“Indxx”) and have been licensed for use for certain purposes by First Trust. The Fund is not sponsored, endorsed, sold or promoted by Indxx and Indxx makes no representation regarding the advisability of trading in such product. The Index is determined, composed and calculated by Indxx without regard to First Trust or the Fund.
Page 20

Fund Performance Overview (Unaudited) (Continued)
First Trust Indxx NextG ETF (NXTG) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Information Technology
62.7%
Communication Services
27.9
Real Estate
6.1
Consumer Discretionary
2.1
Industrials
1.2
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
VMware, Inc., Class A
1.6%
Digital Realty Trust, Inc.
1.5
Tech Mahindra Ltd.
1.5
Xiaomi Corp., Class B
1.5
NEC Corp.
1.5
Arista Networks, Inc.
1.5
NVIDIA Corp.
1.5
Intel Corp.
1.5
Ciena Corp.
1.5
Infosys Ltd., ADR
1.5
Total
15.1%
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.
Page 21

Fund Performance Overview (Unaudited) (Continued)
First Trust S-Network Future Vehicles & Technology ETF (CARZ)
The First Trust S-Network Future Vehicles & Technology ETF (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 S-Network Electric & Future Vehicle Ecosystem Index (the “Index”). The shares of the Fund are listed and trade on Nasdaq, Inc. under the ticker symbol “CARZ.” The Fund will normally invest at least 90% of its net assets (plus any borrowings for investment purposes) in the common stocks and depositary receipts that comprise the Index.
The Index is owned and is developed, maintained and sponsored by VettaFi LLC (the “Index Provider”). According to the Index Provider, to be eligible for inclusion in the Index, a company must be listed on a major recognized stock exchange and engaged in one of the following sectors: (a) electric and autonomous vehicle manufacturing; (b) enabling technologies; or (c) enabling materials.
Performance
 
 
Average Annual Total Returns
Cumulative Total Returns
 
1 Year
Ended
9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(5/9/11)
to 9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(5/9/11)
to 9/30/23
Fund Performance
 
 
 
 
 
 
 
NAV
29.47%
9.30%
4.92%
6.31%
55.98%
61.59%
113.38%
Market Price
29.03%
9.26%
4.85%
6.30%
55.70%
60.54%
113.19%
Index Performance
 
 
 
 
 
 
 
S-Network Electric & Future Vehicle
Ecosystem Index(1)
29.82%
N/A
N/A
N/A
N/A
N/A
N/A
MSCI ACWI Index(2)
20.80%
6.46%
7.56%
7.35%
36.76%
107.21%
140.77%
MSCI World Index(2)
21.95%
7.26%
8.26%
8.22%
41.95%
121.25%
166.22%
(1)
On January 26, 2022, the Fund’s underlying index changed from the Nasdaq Global AutoTM Index to the S-Network Electric & Future Vehicle
Ecosystem Index. Therefore, the Fund’s performance and historical returns shown for the periods prior to this date are not necessarily indicative
of the performance that the Fund, based on its current index, would have generated. Since the Fund’s current underlying index had an inception
date of May 11, 2021, it was not in existence for all the periods shown.
(2)
Prior to February 1, 2023, the Fund’s benchmark was the MSCI World Index. Effective February 1, 2023, the Fund’s benchmark became the
MSCI ACWI Index. The Fund’s investment advisor believes the MSCI ACWI Index better reflects the investment strategies of the Fund.
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated a NAV return of 29.47% during the 12-month period covered by this report. During the same period, the MSCI ACWI Index (the “Benchmark”) generated a return of 20.80%. The Semiconductors & Semiconductor Equipment industry received the greatest allocation by far, with an average weight in the Fund of 37.6%. The allocation to this industry contributed 16.9% to the Fund’s overall return, the greatest contribution of any industry to the Fund’s return during the period covered by this report. The Ground Transportation industry allocation was the only negative impact to the Fund’s return. The allocation to this industry included only one company, TuSimple Holdings, Inc., and this security caused a -0.4% drag on the Fund’s return. The Fund’s currency exposure had a 1.4% impact on performance during the period covered by this report.

S-Network and S-Network Electric & Future Vehicle Ecosystem Index (“Index”) are service marks of VettaFi LLC and have been licensed for use by First Trust Advisors L.P. The Fund is not issued, sponsored, endorsed, sold or promoted by VettaFi LLC or its affiliates (collectively, “VettaFi”). VettaFi makes no representation or warranty, express or implied, to the purchasers or 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 market performance.
Page 22

Fund Performance Overview (Unaudited) (Continued)
First Trust S-Network Future Vehicles & Technology ETF (CARZ) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Information Technology
53.6%
Consumer Discretionary
27.9
Industrials
6.3
Materials
6.1
Communication Services
6.1
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Alphabet, Inc., Class A
5.3%
NVIDIA Corp.
4.8
Microsoft Corp.
4.7
Tesla, Inc.
4.6
Apple, Inc.
4.6
Samsung Electronics Co., Ltd.
4.6
Advanced Micro Devices, Inc.
4.5
Taiwan Semiconductor Manufacturing Co.,
Ltd., ADR
4.2
Toyota Motor Corp.
3.3
Intel Corp.
2.9
Total
43.5%
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.
Page 23

Fund Performance Overview (Unaudited) (Continued)
First Trust Cloud Computing ETF (SKYY)
The First Trust Cloud Computing ETF (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 ISE CTA Cloud ComputingTM Index (the “Index”). The shares of the Fund are listed and trade on Nasdaq, Inc. under the ticker symbol “SKYY.” 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 Index is developed, maintained and sponsored by Nasdaq, Inc. (the “Index Provider”). According to the Index Provider, the Index is designed to track the performance of companies involved in the cloud computing industry. To be eligible for inclusion in the Index, a security must be issued by a “cloud computing” company as classified by the Consumer Technology Association (“CTA”). A cloud computing company is a company engaged in one or more of the following activities:Infrastructure-as-a-Service, Platform-as-a-Service or Software-as-a-Service. According to the Index Provider, in order to be eligible for inclusion in the Index, a security’s issuer must not be identified by the U.S. Securities and Exchange Commission as having used to audit its financial statements an accounting firm that has been identified by the Public Company Accounting Oversight Board (“PCAOB”) under the Holding Foreign Companies Accountable Act (“HFCAA”).
Performance
 
 
Average Annual Total Returns
Cumulative Total Returns
 
1 Year
Ended
9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(7/5/11)
to 9/30/23
5 Years
Ended
9/30/23
10 Years
Ended
9/30/23
Inception
(7/5/11)
to 9/30/23
Fund Performance
 
 
 
 
 
 
 
NAV
25.92%
6.52%
12.37%
11.81%
37.13%
220.99%
292.05%
Market Price
25.88%
6.51%
12.37%
11.81%
37.05%
220.98%
292.05%
Index Performance
 
 
 
 
 
 
 
ISE CTA Cloud ComputingTM Index(1)
26.68%
7.18%
12.99%
12.43%
41.46%
239.02%
319.62%
S&P 500® Index
21.62%
9.92%
11.91%
12.16%
60.44%
208.21%
307.11%
S&P Composite 1500® Information
Technology Index
40.46%
18.01%
19.89%
18.28%
128.90%
513.58%
680.30%
(1)
On June 24, 2019, the Fund’s underlying index changed its methodology and changed its name from “ISE Cloud ComputingTM Index” to “ISE
CTA Cloud ComputingTM Index.”
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated a NAV return of 25.92% during the 12-month period covered by this report. During the same period, the S&P 500® Index (the “Benchmark”) generated a return of 21.62%. The two largest allocations, as well as the top two contributors, to the Fund’s return were the IT Services industry and the Software industry. Investments in the Software industry received an allocation of 49.5% and contributed 15.9% to Fund return. The IT Services industry received an allocation of 23.9% and contributed 5.9% to the Fund’s return. The most negative contributor to the Fund’s return came from the Diversified Telecommunication Services industry. The Fund invested in only one security within this industry, Lumen Technologies, Inc. This security alone accounted for a -3.4% drag on the Fund’s return.

Nasdaq® and ISE CTA Cloud ComputingTM 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 its 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.
Page 24

Fund Performance Overview (Unaudited) (Continued)
First Trust Cloud Computing ETF (SKYY) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Information Technology
87.7%
Communication Services
6.3
Consumer Discretionary
3.6
Industrials
1.2
Health Care
0.6
Financials
0.6
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Nutanix, Inc., Class A
4.4%
Pure Storage, Inc., Class A
3.8
Microsoft Corp.
3.8
Alphabet, Inc., Class A
3.8
International Business Machines Corp.
3.8
Arista Networks, Inc.
3.7
Amazon.com, Inc.
3.6
Oracle Corp.
3.5
MongoDB, Inc.
3.0
Akamai Technologies, Inc.
2.7
Total
36.1%
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.
Page 25

Fund Performance Overview (Unaudited) (Continued)
First Trust International Equity Opportunities ETF (FPXI)
First Trust International Equity Opportunities 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 IPOX® International Index (the “Index”). The shares of the Fund are listed and trade on Nasdaq, Inc. under the ticker symbol “FPXI.” 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 Index is owned and is developed, maintained and sponsored by IPOX® Schuster LLC (the “Index Provider”). According to the Index Provider, the Index is a market-cap weighted portfolio measuring the performance of the top 50 companies domiciled outside the United States ranked quarterly by market capitalization in the IPOX® Global Composite Index (the “Base Index”) and represents, on average, 25% of the total market capitalization of the Base Index, a fully market capitalization-weighted index constructed and managed to provide a broad and objective view of global aftermarket performance of initial public offerings and spin-offs in all world countries (both developed and emerging market countries).
Performance
 
 
Average Annual Total
Returns
Cumulative Total Returns
 
1 Year
Ended
9/30/23
5 Years
Ended
9/30/23
Inception
(11/4/14)
to 9/30/23
5 Years
Ended
9/30/23
Inception
(11/4/14)
to 9/30/23
Fund Performance
 
 
 
 
 
NAV
8.72%
2.58%
3.88%
13.61%
40.32%
Market Price
8.50%
2.52%
3.84%
13.23%
39.92%
Index Performance
 
 
 
 
 
IPOX® International Index
9.30%
3.51%
4.74%
18.82%
51.05%
MSCI ACWI ex USA Index
20.39%
2.58%
3.44%
13.57%
35.18%
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated a NAV return of 8.72% during the 12-month period covered by this report. During the same period, the MSCI World ex USA Index (the “Benchmark”) generated a return of 20.39%. During the period covered by this report, the Fund’s greatest allocation was 31.6% to the Consumer Discretionary sector. Investments in this sector contributed 4.5% to the Fund’s performance, the greatest contribution of any sector in the Fund. Meanwhile, the most negatively contributing sector was the Industrials sector. Investments in the Industrials sector received an allocation of 13.6%, the second largest allocation. Investments in this sector caused a -0.9% drag on the Fund’s return. The Fund’s currency exposure had a 2.5% impact on performance during the period covered by this report.

IPOX® and IPOX® International Index (“Index”) are registered international trademarks and service marks of IPOX® Schuster LLC (“IPOX”) and have been licensed for use by First Trust. The Fund is not sponsored, endorsed, sold or promoted by IPOX, and IPOX makes no representation regarding the advisability of trading in such Fund.
Page 26

Fund Performance Overview (Unaudited) (Continued)
First Trust International Equity Opportunities ETF (FPXI) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Consumer Discretionary
27.5%
Industrials
14.8
Communication Services
12.7
Health Care
11.9
Information Technology
11.6
Financials
8.1
Materials
5.4
Energy
3.0
Real Estate
2.9
Consumer Staples
2.1
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
PDD Holdings, Inc., ADR
8.2%
Novo Nordisk A/S, ADR
7.2
nVent Electric PLC
4.3
Alibaba Group Holding Ltd., ADR
3.9
Dr. Ing hc F Porsche AG (Preference Shares)
3.8
Spotify Technology S.A.
3.7
Universal Music Group N.V.
3.7
LG Energy Solution Ltd.
3.6
NetEase, Inc., ADR
3.6
Saudi Aramco Base Oil Co.
3.5
Total
45.5%
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.
Page 27

Fund Performance Overview (Unaudited) (Continued)
First Trust Nasdaq Cybersecurity ETF (CIBR)
The First Trust Nasdaq Cybersecurity ETF (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 Nasdaq CTA CybersecurityTM Index (the “Index”). The shares of the Fund are listed and trade on Nasdaq, Inc. under the ticker symbol “CIBR.” 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 Index is owned by Nasdaq, Inc. (the “Index Provider”). The Index Provider and the Consumer Technology Association (“CTA”) have jointly developed the eligibility and selection criteria and rules for the Index. According to the Index Provider and CTA, the Index includes securities of companies classified as “cybersecurity” companies by the CTA. CTA gives the cybersecurity classification to those companies that meet one of three elements: (1) companies focused on developing technologies that are designed and implemented to protect computer and communication networks from attacks and outside unauthorized use; (2) companies involved in the deployment of technologies for cybersecurity industry use including government, private and public corporations, financial institutions and various other industries; or (3) companies focused on the protection of priority data from being accessed and exploited by unauthorized external parties.
Performance
 
 
Average Annual Total
Returns
Cumulative Total Returns
 
1 Year
Ended
9/30/23
5 Years
Ended
9/30/23
Inception
(7/6/15)
to 9/30/23
5 Years
Ended
9/30/23
Inception
(7/6/15)
to 9/30/23
Fund Performance
 
 
 
 
 
NAV
18.29%
10.50%
11.13%
64.71%
138.41%
Market Price
18.28%
10.43%
11.12%
64.20%
138.24%
Index Performance
 
 
 
 
 
Nasdaq CTA CybersecurityTM Index
19.18%
11.31%
11.93%
70.88%
153.07%
S&P 500® Index
21.62%
9.92%
11.31%
60.44%
141.60%
S&P Composite 1500® Information Technology Index
40.46%
18.01%
20.05%
128.90%
350.25%
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated a NAV return of 18.29% during the 12-month period covered by this report. During the same period, the S&P Composite 1500® Information Technology Index (the “Benchmark”) generated a return of 40.46%. The Fund allocated 48.8% to the Software industry during the period covered by this report and investments in that industry contributed 5.3% to the Fund’s overall return, which was more than any other industry. The Semiconductors & Semiconductor Equipment industry was a close second in terms of contribution with a 4.9% contribution to the Fund’s return from only a single holding, a 6.4% allocation to Broadcom, Inc. No industry had a negative contribution to the Fund’s return. The Fund’s currency exposure had a 0.5% impact on performance during the period covered by this report.

Nasdaq® and Nasdaq CTA CybersecurityTM 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 its 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.
Page 28

Fund Performance Overview (Unaudited) (Continued)
First Trust Nasdaq Cybersecurity ETF (CIBR) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Information Technology
88.3%
Industrials
11.7
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Infosys Ltd., ADR
6.1%
Fortinet, Inc.
6.1
Palo Alto Networks, Inc.
6.0
Cisco Systems, Inc.
5.8
Broadcom, Inc.
5.6
Splunk, Inc.
3.7
Crowdstrike Holdings, Inc., Class A
3.2
Akamai Technologies, Inc.
3.2
Zscaler, Inc.
3.1
Check Point Software Technologies Ltd.
3.1
Total
45.9%
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.
Page 29

Fund Performance Overview (Unaudited) (Continued)
First Trust IPOX® Europe Equity Opportunities ETF (FPXE)
The First Trust IPOX® Europe Equity Opportunities ETF (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 IPOX®-100 Europe Index (the “Index”). The shares of the Fund are listed and trade on Nasdaq, Inc. under the ticker symbol “FPXE.” 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 Index is owned, developed, maintained and sponsored by IPOX® Schuster LLC (the “Index Provider”). According to the Index Provider, the Index seeks to measure the performance of the equity securities of the 100 largest and typically most liquid initial public offerings (“IPOs”) (including spin-offs and equity carve-outs) of companies that are economically tied to Europe.
Performance
 
 
Average Annual
Total Returns
Cumulative
Total Returns
 
1 Year
Ended
9/30/23
Inception
(10/4/18)
to 9/30/23
Inception
(10/4/18)
to 9/30/23
Fund Performance
 
 
 
NAV
23.49%
2.62%
13.75%
Market Price
23.63%
2.51%
13.15%
Index Performance
 
 
 
IPOX®-100 Europe Index
24.10%
3.83%
20.64%
MSCI Europe Index
28.85%
4.31%
23.44%
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated a NAV return of 23.49% during the 12-month period covered by this report. During the same period, the MSCI Europe Index (the “Benchmark”) generated a return of 28.85%. Three sectors had nearly the same allocation within the Fund during the period covered by this report. The Consumer Discretionary sector received an allocation of 19.7% and contributed 2.9% to the Fund’s return; the Health Care sector received an allocation of 18.0% and accounted for 3.6% of the Fund’s return; and the Industrials sector, which had an allocation of 17.8% and contributed 3.3% to Fund’s return. The greatest contribution to return, however, came from investments in the Energy sector. This sector received an allocation of 10.3% and contributed 5.4% to the Fund’s overall return. The Fund’s currency exposure had a 7.7% impact on performance during the period covered by this report.

IPOX® and IPOX®-100 Europe Index (“Index”) are registered international trademarks of IPOX® Schuster LLC (“IPOX”) and have been licensed for use by First Trust. The Fund is not sponsored, endorsed, sold or promoted by IPOX, and IPOX makes no representation regarding the advisability of trading in such Fund. IPOX® is an international trademark of IPOX Schuster LLC. Index of Initial Public Offerings (IPOX) and IPOX Derivatives Patent No. US 7,698,197.
Page 30

Fund Performance Overview (Unaudited) (Continued)
First Trust IPOX® Europe Equity Opportunities ETF (FPXE) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Health Care
21.5%
Industrials
20.3
Consumer Discretionary
17.5
Communication Services
10.3
Energy
8.0
Financials
7.9
Information Technology
5.3
Materials
3.9
Consumer Staples
3.6
Utilities
1.7
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Novo Nordisk A/S, Class B
9.7%
nVent Electric PLC
7.7
Prosus N.V.
5.6
Dr. Ing hc F Porsche AG (Preference Shares)
4.4
Spotify Technology S.A.
4.3
Technip Energies N.V.
3.9
Global-e Online Ltd.
3.4
Verallia S.A.
2.5
Universal Music Group N.V.
2.5
Kempower Oyj
2.2
Total
46.2%
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.
Page 31

Fund Performance Overview (Unaudited) (Continued)
First Trust Dow Jones International Internet ETF (FDNI)
The First Trust Dow Jones International Internet ETF (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 Dow Jones International Internet Index (the “Index”). The shares of the Fund are listed and trade on Nasdaq, Inc. under the ticker symbol “FDNI.” 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 Index is developed, maintained and sponsored by S&P Dow Jones Indices LLC (the “Index Provider”). According to the Index Provider, the Index is designed to measure the performance of securities of non-US issuers whose primary business focus is Internet-related.
Performance
 
 
Average Annual
Total Returns
Cumulative
Total Returns
 
1 Year
Ended
9/30/23
Inception
(11/5/18)
to 9/30/23
Inception
(11/5/18)
to 9/30/23
Fund Performance
 
 
 
NAV
7.99%
2.11%
10.78%
Market Price
5.94%
1.90%
9.68%
Index Performance
 
 
 
Dow Jones International Internet Index
7.54%
2.84%
14.69%
MSCI ACWI ex-USA Information Technology Index
28.97%
10.95%
66.40%
MSCI ACWI ex-USA Index
20.39%
4.08%
21.67%
(See Notes to Fund Performance Overview on page 34.)
Performance Review
The Fund generated NAV return of 7.99% during the period covered by this report. During the same period, the MSCI ACWI ex-USA Information Technology Index (the “Benchmark”) generated a return of 28.97%. Over 95% of the Fund’s assets were allocated across three sectors. The Consumer Discretionary sector had an allocation of 49.9%, the Communication Services sector has an allocation of 33.3%, and the Information Technology sector had an allocation of 12.2%. The greatest contribution to the Fund’s return came from the allocation to the Communication Services sector which generated a 5.5% contribution to the Fund’s return. The most negative contribution to the Fund’s return came from investments in the Financials sector. This sector’s allocation was only 2.9% but, due primarily to the performance of Adyen N.V., the Financials sector caused a -2.6% drag on the Fund’s overall return. The Fund’s currency exposure had a 2.5% impact on performance during the period covered by this report.

Dow Jones International Internet Index (“Index”) is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and has been licensed for use by First Trust. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by First Trust. The Fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product nor do they have any liability for any errors, omissions, or interruptions of the Index.
Page 32

Fund Performance Overview (Unaudited) (Continued)
First Trust Dow Jones International Internet ETF (FDNI) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Consumer Discretionary
46.5%
Communication Services
37.2
Information Technology
11.5
Financials
3.2
Health Care
1.0
Consumer Staples
0.6
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Tencent Holdings Ltd.
10.4%
Alibaba Group Holding Ltd.
10.4
Shopify, Inc., Class A
7.9
Meituan, Class B
7.7
Prosus N.V.
5.4
PDD Holdings, Inc., ADR
4.9
Baidu, Inc., Class A
4.7
NetEase, Inc.
4.6
JD.com, Inc., Class A
4.4
Naspers Ltd., Class N
3.6
Total
64.0%
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.
Page 33

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. For certain Funds, the total returns would have been lower if certain fees had not been waived and expenses reimbursed by the Advisor.
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 the Securities and Exchange Commission’s 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. 
Page 34

First Trust Exchange-Traded Fund II
Understanding Your Fund Expenses
September 30, 2023 (Unaudited)
As a shareholder of First Trust STOXX® European Select Dividend Index Fund, First Trust Alerian Disruptive Technology Real Estate ETF, First Trust Dow Jones Global Select Dividend Index Fund, First Trust Global Wind Energy ETF, First Trust Alerian U.S. NextGen Infrastructure ETF, First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund, First Trust Indxx Global Natural Resources Income ETF, First Trust Indxx Global Agriculture ETF, First Trust Indxx NextG ETF, First Trust S-Network Future Vehicles & Technology ETF, First Trust Cloud Computing ETF, First Trust International Equity Opportunities ETF, First Trust Nasdaq Cybersecurity ETF, First Trust IPOX® Europe Equity Opportunities ETF or First Trust Dow Jones International Internet 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 (in U.S. dollars) 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, 2023.
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, 2023
Ending
Account Value
September 30, 2023
Annualized
Expense Ratio
Based on the
Six-Month
Period (a)
Expenses Paid
During the
Six-Month
Period (b)
First Trust STOXX® European Select Dividend Index Fund (FDD)
Actual
$1,000.00
$988.60
0.58%
$2.89
Hypothetical (5% return before expenses)
$1,000.00
$1,022.16
0.58%
$2.94
First Trust Alerian Disruptive Technology Real Estate ETF (DTRE)
Actual
$1,000.00
$956.40
0.60%
$2.94
Hypothetical (5% return before expenses)
$1,000.00
$1,022.06
0.60%
$3.04
First Trust Dow Jones Global Select Dividend Index Fund (FGD)
Actual
$1,000.00
$973.20
0.56%
$2.77
Hypothetical (5% return before expenses)
$1,000.00
$1,022.26
0.56%
$2.84
First Trust Global Wind Energy ETF (FAN)
Actual
$1,000.00
$822.70
0.60%
$2.74
Hypothetical (5% return before expenses)
$1,000.00
$1,022.06
0.60%
$3.04
First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD)
Actual
$1,000.00
$1,021.60
0.65%
$3.29
Hypothetical (5% return before expenses)
$1,000.00
$1,021.81
0.65%
$3.29
Page 35

First Trust Exchange-Traded Fund II
Understanding Your Fund Expenses (Continued)
September 30, 2023 (Unaudited)
 
Beginning
Account Value
April 1, 2023
Ending
Account Value
September 30, 2023
Annualized
Expense Ratio
Based on the
Six-Month
Period (a)
Expenses Paid
During the
Six-Month
Period (b)
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund (GRID)
Actual
$1,000.00
$970.90
0.57%
$2.82
Hypothetical (5% return before expenses)
$1,000.00
$1,022.21
0.57%
$2.89
First Trust Indxx Global Natural Resources Income ETF (FTRI)
Actual
$1,000.00
$987.80
0.70%
$3.49
Hypothetical (5% return before expenses)
$1,000.00
$1,021.56
0.70%
$3.55
First Trust Indxx Global Agriculture ETF (FTAG)
Actual
$1,000.00
$918.40
0.70%
$3.37
Hypothetical (5% return before expenses)
$1,000.00
$1,021.56
0.70%
$3.55
First Trust Indxx NextG ETF (NXTG)
Actual
$1,000.00
$987.30
0.70%
$3.49
Hypothetical (5% return before expenses)
$1,000.00
$1,021.56
0.70%
$3.55
First Trust S-Network Future Vehicles & Technology ETF (CARZ)
Actual
$1,000.00
$1,017.10
0.70%
$3.54
Hypothetical (5% return before expenses)
$1,000.00
$1,021.56
0.70%
$3.55
First Trust Cloud Computing ETF (SKYY)
Actual
$1,000.00
$1,134.30
0.60%
$3.21
Hypothetical (5% return before expenses)
$1,000.00
$1,022.06
0.60%
$3.04
First Trust International Equity Opportunities ETF (FPXI)
Actual
$1,000.00
$946.60
0.70%
$3.42
Hypothetical (5% return before expenses)
$1,000.00
$1,021.56
0.70%
$3.55
First Trust Nasdaq Cybersecurity ETF (CIBR)
Actual
$1,000.00
$1,064.60
0.59%
$3.05
Hypothetical (5% return before expenses)
$1,000.00
$1,022.11
0.59%
$2.99
First Trust IPOX® Europe Equity Opportunities ETF (FPXE)
Actual
$1,000.00
$964.90
0.70%
$3.45
Hypothetical (5% return before expenses)
$1,000.00
$1,021.56
0.70%
$3.55
First Trust Dow Jones International Internet ETF (FDNI)
Actual
$1,000.00
$864.40
0.65%
$3.04
Hypothetical (5% return before expenses)
$1,000.00
$1,021.81
0.65%
$3.29
(a)
These expense ratios reflect expense caps for certain Funds. See Note 3 in the Notes to Financial Statements.
(b)
Expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value over the period
(April 1, 2023 through September 30, 2023), multiplied by 183/365 (to reflect the six-month period).
Page 36

First Trust STOXX® European Select Dividend Index Fund (FDD)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 98.3%
Belgium — 5.3%
123,688
Ageas S.A./N.V.
$5,103,920
65,623
Cofinimmo S.A.
4,502,757
 
9,606,677
Denmark — 4.6%
4,607
AP Moller - Maersk A/S,
Class A
8,182,879
France — 14.4%
76,820
BNP Paribas S.A.
4,908,001
86,415
Covivio S.A.
3,846,351
531,002
Credit Agricole S.A.
6,563,911
488,377
Orange S.A.
5,607,416
220,736
Rubis SCA
4,956,846
 
25,882,525
Germany — 10.7%
18,463
Allianz SE
4,405,666
56,109
Bayerische Motoren Werke AG
(Preference Shares)
5,238,066
229,626
Evonik Industries AG
4,206,027
76,700
Mercedes-Benz Group AG
5,343,091
 
19,192,850
Italy — 5.5%
478,375
Poste Italiane S.p.A. (b) (c)
5,041,436
1,030,332
Snam S.p.A.
4,846,378
 
9,887,814
Jersey — 4.8%
1,496,592
Glencore PLC
8,580,388
Netherlands — 6.0%
133,152
ASR Nederland N.V.
5,000,327
177,231
NN Group N.V.
5,703,771
 
10,704,098
Norway — 8.4%
258,901
Aker BP ASA
7,164,364
207,491
Yara International ASA
7,861,910
 
15,026,274
Spain — 8.4%
216,965
ACS Actividades de
Construccion y Servicios S.A.
7,815,190
359,531
Endesa S.A.
7,326,701
 
15,141,891
Sweden — 2.6%
613,769
Tele2 AB, Class B
4,700,925
Switzerland — 5.0%
78,718
Holcim AG
5,054,945
8,432
Zurich Insurance Group AG
3,869,868
 
8,924,813
United Kingdom — 22.6%
583,126
Close Brothers Group PLC
6,303,680
661,892
IG Group Holdings PLC
5,196,773
Shares
Description
Value
 
United Kingdom (Continued)
2,682,502
Legal & General Group PLC
$7,282,292
120,919
Rio Tinto PLC
7,633,418
285,908
SSE PLC
5,616,299
5,990,158
Taylor Wimpey PLC
8,573,030
 
40,605,492
Total Common Stocks
176,436,626
(Cost $190,877,238)
MONEY MARKET FUNDS — 0.3%
506,130
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
5.20% (d)
506,130
(Cost $506,130)
Total Investments — 98.6%
176,942,756
(Cost $191,383,368)
Net Other Assets and
Liabilities — 1.4%
2,573,926
Net Assets — 100.0%
$179,516,682
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index. For a
breakdown of the portfolio securities by sector, please see the
Fund Performance Overview.
(b)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the
“1933 Act”) and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. This
security is not restricted on the foreign exchange where it
trades freely without any additional registration. As such, it
does not require the additional disclosure required of
restricted securities.
(c)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
(d)
Rate shown reflects yield as of September 30, 2023.
Currency Exposure Diversification
% of Total
Investments
Euro
51.1%
British Pound Sterling
27.8
Norwegian Krone
8.5
Swiss Franc
5.0
Danish Krone
4.6
Swedish Krona
2.7
United States Dollar
0.3
Total
100.0%
See Notes to Financial Statements
Page 37

First Trust STOXX® European Select Dividend Index Fund (FDD)
Portfolio of Investments (Continued)
September 30, 2023 

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$176,436,626
$176,436,626
$
$
Money Market
Funds
506,130
506,130
Total Investments
$176,942,756
$176,942,756
$
$
*
See Portfolio of Investments for country breakout.
See Notes to Financial Statements
Page 38

First Trust Alerian Disruptive Technology Real Estate ETF (DTRE)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 99.2%
Belgium — 0.8%
6,956
Warehouses De Pauw C.V.A.
$172,383
Cayman Islands — 1.5%
215,166
ESR Group Ltd. (b) (c)
302,240
Japan — 8.4%
191
Daiwa House REIT Investment
Corp.
337,164
631
GLP J-REIT
564,539
64
Mitsui Fudosan Logistics Park,
Inc.
201,713
338
Nippon Prologis REIT, Inc.
631,488
 
1,734,904
Singapore — 5.9%
334,764
Frasers Logistics & Commercial
Trust (c)
262,032
189,194
Keppel DC REIT
287,874
546,777
Mapletree Logistics Trust
671,971
 
1,221,877
United Kingdom — 4.8%
86,027
Segro PLC
755,098
136,861
Tritax Big Box REIT PLC
233,445
 
988,543
United States — 77.8%
7,727
American Tower Corp.
1,270,705
31,661
Americold Realty Trust, Inc.
962,811
13,184
Crown Castle, Inc.
1,213,324
12,859
Digital Realty Trust, Inc.
1,556,196
56,017
DigitalBridge Group, Inc.
984,779
5,544
EastGroup Properties, Inc.
923,242
1,898
Equinix, Inc.
1,378,442
18,716
First Industrial Realty Trust, Inc.
890,694
91,510
LXP Industrial Trust
814,439
11,982
Prologis, Inc.
1,344,500
20,038
Rexford Industrial Realty, Inc.
988,875
6,238
SBA Communications Corp.
1,248,661
30,190
STAG Industrial, Inc.
1,041,857
17,133
Terreno Realty Corp.
973,154
95,891
Uniti Group, Inc.
452,606
 
16,044,285
Total Common Stocks
20,464,232
(Cost $20,699,014)
Shares
Description
Value
MONEY MARKET FUNDS — 0.4%
85,965
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
5.20% (d)
$85,965
(Cost $85,965)
Total Investments — 99.6%
20,550,197
(Cost $20,784,979)
Net Other Assets and
Liabilities — 0.4%
81,436
Net Assets — 100.0%
$20,631,633
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index. For a
breakdown of the portfolio securities by sector, please see the
Fund Performance Overview.
(b)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the
“1933 Act”) and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. This
security is not restricted on the foreign exchange where it
trades freely without any additional registration. As such, it
does not require the additional disclosure required of
restricted securities.
(c)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
(d)
Rate shown reflects yield as of September 30, 2023.
Currency Exposure Diversification
% of Total
Investments
United States Dollar
78.5%
Japanese Yen
8.4
Singapore Dollar
6.0
British Pound Sterling
4.8
Hong Kong Dollar
1.5
Euro
0.8
Total
100.0%
See Notes to Financial Statements
Page 39

First Trust Alerian Disruptive Technology Real Estate ETF (DTRE)
Portfolio of Investments (Continued)
September 30, 2023 

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$20,464,232
$20,464,232
$
$
Money Market Funds
85,965
85,965
Total Investments
$20,550,197
$20,550,197
$
$
*
See Portfolio of Investments for country breakout.
See Notes to Financial Statements
Page 40

First Trust Dow Jones Global Select Dividend Index Fund (FGD)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 99.1%
Australia — 4.6%
608,418
Fortescue Metals Group Ltd.
$8,183,540
3,066,381
Harvey Norman Holdings Ltd.
7,629,824
283,531
JB Hi-Fi Ltd.
8,279,901
674,509
Super Retail Group Ltd.
5,199,773
 
29,293,038
Belgium — 1.0%
148,592
Ageas S.A./N.V.
6,131,570
Bermuda — 1.5%
1,090,131
CK Infrastructure Holdings Ltd.
5,157,657
139,589
Lazard Ltd., Class A
4,328,655
 
9,486,312
Canada — 12.9%
119,478
Bank of Nova Scotia (The)
5,355,288
142,173
BCE, Inc.
5,427,329
1,459,362
Birchcliff Energy Ltd.
8,316,188
119,308
Canadian Imperial Bank of
Commerce
4,605,425
190,816
Canadian Utilities Ltd., Class A
4,031,967
205,182
Great-West Lifeco, Inc.
5,870,328
166,257
IGM Financial, Inc.
4,216,863
304,073
Labrador Iron Ore Royalty Corp.
7,197,458
210,417
Laurentian Bank of Canada
4,689,360
268,727
Manulife Financial Corp.
4,910,586
1,222,903
Peyto Exploration &
Development Corp.
12,325,818
195,650
Power Corp. of Canada
4,981,098
164,717
TC Energy Corp.
5,664,591
254,618
TELUS Corp.
4,157,870
 
81,750,169
Cayman Islands — 0.8%
914,770
CK Hutchison Holdings Ltd.
4,894,536
Denmark — 1.5%
5,306
AP Moller - Maersk A/S,
Class A
9,424,432
Finland — 1.9%
504,854
Fortum Oyj
5,868,658
759,192
Metsa Board Oyj, Class B
6,104,197
 
11,972,855
France — 2.4%
597,630
ALD S.A. (b) (c)
4,634,579
370,867
Nexity S.A.
5,477,625
75,217
TotalEnergies SE
4,955,089
 
15,067,293
Germany — 5.6%
21,307
Allianz SE
5,084,305
134,136
BASF SE
6,090,967
274,120
Freenet AG
6,428,061
Shares
Description
Value
 
Germany (Continued)
63,684
Hapag-Lloyd AG (b) (c)
$11,594,211
87,985
Mercedes-Benz Group AG
6,129,230
 
35,326,774
Hong Kong — 3.6%
1,791,405
Henderson Land Development
Co., Ltd.
4,723,886
1,919,274
Hysan Development Co., Ltd.
3,720,440
3,170,185
New World Development Co.,
Ltd.
6,169,573
18,606,424
PCCW Ltd.
8,482,360
 
23,096,259
Israel — 1.3%
1,525,484
ICL Group Ltd.
8,426,696
Italy — 5.0%
4,345,665
A2A S.p.A.
7,746,251
1,217,997
Anima Holding S.p.A. (b) (c)
5,112,278
239,569
Azimut Holding S.p.A.
5,237,920
483,987
Eni S.p.A.
7,806,424
544,777
Poste Italiane S.p.A. (b) (c)
5,741,224
 
31,644,097
Japan — 9.4%
295,854
Aozora Bank Ltd.
6,048,139
426,500
Haseko Corp.
5,442,556
325,570
Japan Tobacco, Inc.
7,494,384
587,100
Mitsui OSK Lines Ltd.
16,146,821
132,900
MS&AD Insurance Group
Holdings, Inc.
4,886,814
539,500
Nippon Yusen KK
14,029,022
266,700
Sumitomo Corp.
5,325,434
 
59,373,170
Jersey — 1.6%
4,979,296
Centamin PLC
5,075,893
205,789
Janus Henderson Group PLC
5,313,472
 
10,389,365
Luxembourg — 0.6%
133,606
APERAM S.A.
3,898,637
Mauritius — 1.0%
31,912,800
Golden Agri-Resources Ltd.
6,186,461
Netherlands — 3.5%
132,314
ASR Nederland N.V.
4,968,857
51,503
LyondellBasell Industries N.V.,
Class A
4,877,334
175,356
NN Group N.V.
5,643,428
508,507
SBM Offshore N.V.
6,682,605
 
22,172,224
New Zealand — 0.9%
2,036,997
Spark New Zealand Ltd.
5,872,419
See Notes to Financial Statements
Page 41

First Trust Dow Jones Global Select Dividend Index Fund (FGD)
Portfolio of Investments (Continued)
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) (Continued)
Norway — 2.4%
973,777
Norsk Hydro ASA
$6,117,599
234,334
Yara International ASA
8,879,001
 
14,996,600
South Korea — 13.1%
1,833,789
BNK Financial Group, Inc.
9,308,918
104,515
DB Insurance Co., Ltd.
6,924,293
1,361,733
DGB Financial Group, Inc.
7,941,929
218,417
Hana Financial Group, Inc.
6,871,055
102,916
Hyundai Motor Co. (Preference
Shares)
8,076,778
1,188,480
Industrial Bank of Korea
9,873,174
146,333
KB Financial Group, Inc.
5,996,899
84,397
KT&G Corp.
5,397,555
39,541
Samsung Fire & Marine
Insurance Co., Ltd.
7,633,341
206,450
Samsung Securities Co., Ltd.
5,622,527
1,023,712
Woori Financial Group, Inc.
9,300,955
 
82,947,424
Spain — 7.5%
224,488
ACS Actividades de
Construccion y Servicios S.A.
8,086,172
243,212
Cia de Distribucion Integral
Logista Holdings S.A.
6,222,689
548,314
Enagas S.A.
9,089,775
3,251,717
Mapfre S.A.
6,635,105
162,293
Naturgy Energy Group S.A.
4,420,011
373,079
Redeia Corp., S.A.
5,875,151
1,817,306
Telefonica S.A.
7,431,770
 
47,760,673
Sweden — 1.2%
5,397,863
Samhallsbyggnadsbolaget i
Norden AB
1,975,247
2,800,586
Telia Co., AB
5,785,450
 
7,760,697
Switzerland — 2.4%
32,852
Helvetia Holding AG
4,608,288
56,853
Swiss Re AG
5,858,278
11,016
Zurich Insurance Group AG
5,055,795
 
15,522,361
United Kingdom — 5.3%
2,302,482
abrdn PLC
4,375,447
1,995,389
Ashmore Group PLC
4,572,158
191,600
British American Tobacco PLC
6,024,319
2,301,554
Legal & General Group PLC
6,248,118
1,013,210
Phoenix Group Holdings PLC
5,961,077
98,408
Rio Tinto PLC
6,212,335
 
33,393,454
United States — 8.1%
168,613
Altria Group, Inc.
7,090,177
Shares
Description
Value
 
United States (Continued)
307,350
AT&T, Inc.
$4,616,397
256,941
Kohl’s Corp.
5,385,483
424,429
Northwest Bancshares, Inc.
4,341,909
51,432
Prudential Financial, Inc.
4,880,382
473,238
Sitio Royalties Corp., Class A
11,457,092
119,508
Universal Corp.
5,641,973
599,458
Western Union (The) Co.
7,900,856
 
51,314,269
Total Common Stocks
628,101,785
(Cost $699,398,873)
MONEY MARKET FUNDS — 0.0%
208,085
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
5.20% (d)
208,085
(Cost $208,085)
Total Investments — 99.1%
628,309,870
(Cost $699,606,958)
Net Other Assets and
Liabilities — 0.9%
5,742,442
Net Assets — 100.0%
$634,052,312
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index. For a
breakdown of the portfolio securities by sector, please see the
Fund Performance Overview.
(b)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the
“1933 Act”) and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. This
security is not restricted on the foreign exchange where it
trades freely without any additional registration. As such, it
does not require the additional disclosure required of
restricted securities.
(c)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
(d)
Rate shown reflects yield as of September 30, 2023.
See Notes to Financial Statements
Page 42

First Trust Dow Jones Global Select Dividend Index Fund (FGD)
Portfolio of Investments (Continued)
September 30, 2023 
Currency Exposure Diversification
% of Total
Investments
Euro
26.9%
South Korean Won
13.2
Canadian Dollar
13.0
United States Dollar
10.5
Japanese Yen
9.5
British Pound Sterling
6.1
Hong Kong Dollar
5.3
Australian Dollar
4.7
Swiss Franc
2.5
Norwegian Krone
2.4
Danish Krone
1.5
Israeli Shekel
1.3
Swedish Krona
1.2
Singapore Dollar
1.0
New Zealand Dollar
0.9
Total
100.0%

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$628,101,785
$628,101,785
$
$
Money Market
Funds
208,085
208,085
Total Investments
$628,309,870
$628,309,870
$
$
*
See Portfolio of Investments for country breakout.
See Notes to Financial Statements
Page 43

First Trust Global Wind Energy ETF (FAN)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 99.7%
Bermuda — 0.8%
21,014,920
Concord New Energy Group
Ltd.
$1,744,322
Brazil — 0.8%
1,353,749
Aeris Industria E Comercio De
Equipamentos Para Geracao
De Energia S.A. (b)
223,535
704,458
Omega Energia S.A. (b)
1,376,248
 
1,599,783
Canada — 12.5%
315,769
Boralex, Inc., Class A
6,783,832
577,210
Innergex Renewable Energy,
Inc. (c)
4,321,903
893,924
Northland Power, Inc.
14,558,144
 
25,663,879
Cayman Islands — 0.2%
1,560,005
China High Speed Transmission
Equipment Group Co.,
Ltd. (b)
448,223
China — 6.9%
8,218,790
China Datang Corp. Renewable
Power Co., Ltd., Class H
1,952,119
11,796,104
China Longyuan Power Group
Corp., Ltd., Class H
10,273,266
1,929,966
China Suntien Green Energy
Corp., Ltd., Class H
667,889
2,596,861
Goldwind Science &
Technology Co., Ltd.
1,309,880
 
14,203,154
Denmark — 16.2%
488,769
Cadeler A/S (b) (c)
1,664,163
275,729
Orsted A/S (d) (e)
15,051,951
767,455
Vestas Wind Systems A/S (b)
16,488,242
 
33,204,356
France — 3.3%
274,857
Engie S.A.
4,222,310
87,551
Neoen S.A. (d) (e)
2,556,599
 
6,778,909
Germany — 8.1%
21,747
Energiekontor AG
1,770,385
384,147
Nordex SE (b)
4,729,494
119,034
PNE AG
1,653,652
107,585
RWE AG
3,998,111
55,225
SGL Carbon SE (b) (c)
385,644
311,146
Siemens Energy AG (b)
4,072,514
 
16,609,800
Greece — 1.4%
187,802
Terna Energy S.A.
2,908,811
Italy — 6.4%
659,369
Enel S.p.A.
4,057,226
Shares
Description
Value
 
Italy (Continued)
195,910
ERG S.p.A.
$4,730,755
108,299
Prysmian S.p.A.
4,368,142
 
13,156,123
Japan — 4.1%
66,700
Hitachi Ltd.
4,139,739
822,610
Toray Industries, Inc.
4,282,592
 
8,422,331
Marshall Islands — 0.5%
96,960
Eneti, Inc.
977,357
Norway — 0.2%
805,009
Aker Horizons ASA (b) (c)
345,434
Portugal — 2.0%
973,044
EDP - Energias de Portugal S.A.
4,049,163
South Korea — 1.3%
51,072
CS Bearing Co., Ltd. (b)
430,709
44,705
CS Wind Corp.
1,805,560
32,243
Dongkuk Structures &
Construction Co., Ltd. (b)
69,294
392,708
Unison Co., Ltd. (b)
396,375
 
2,701,938
Spain — 11.5%
27,857
Acciona S.A.
3,554,834
968,381
EDP Renovaveis S.A.
15,884,581
373,414
Iberdrola S.A.
4,182,821
 
23,622,236
Sweden — 3.6%
676,932
Orron Energy AB (b)
452,917
520,004
OX2 AB (b) (c)
2,474,952
273,636
SKF AB, Class B
4,562,040
 
7,489,909
Switzerland — 2.3%
22,046
BKW AG
3,889,692
9,096
Gurit Holding AG (b)
923,164
 
4,812,856
Taiwan — 1.7%
631,342
Century Iron & Steel Industrial
Co., Ltd.
3,539,998
United Kingdom — 0.9%
323,970
ReNew Energy Global PLC,
Class A (b) (c)
1,759,157
United States — 15.0%
88,538
Alliant Energy Corp.
4,289,666
34,177
American Superconductor
Corp. (b)
258,036
47,323
Arcosa, Inc.
3,402,524
87,394
Clearway Energy, Inc., Class C
1,849,257
38,808
General Electric Co.
4,290,225
60,630
Hexcel Corp.
3,949,438
66,496
NextEra Energy, Inc.
3,809,556
See Notes to Financial Statements
Page 44

First Trust Global Wind Energy ETF (FAN)
Portfolio of Investments (Continued)
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) (Continued)
United States (Continued)
30,866
Owens Corning
$4,210,431
58,125
Timken (The) Co.
4,271,606
138,388
TPI Composites, Inc. (b)
366,728
 
30,697,467
Total Common Stocks
204,735,206
(Cost $274,793,967)
MONEY MARKET FUNDS — 0.0%
87,620
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
5.20% (f)
87,620
(Cost $87,620)
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 2.4%
$2,484,375
Bank of America Corp., 5.29%
(f), dated 09/29/23, due
10/02/23, with a maturity
value of $2,485,835.
Collateralized by
U.S. Treasury Securities,
interest rates of 1.38% to
4.00%, due 11/15/40 to
02/15/53. The value of the
collateral including accrued
interest is $2,534,063. (g)
2,484,375
2,386,949
JPMorgan Chase & Co., 5.30%
(f), dated 09/29/23, due
10/02/23, with a maturity
value of $2,388,355.
Collateralized by
U.S. Treasury Securities,
interest rates of 1.25% to
4.38%, due 05/15/24 to
08/15/28. The value of the
collateral including accrued
interest is $2,434,688. (g)
2,386,949
Total Repurchase Agreements
4,871,324
(Cost $4,871,324)
Total Investments — 102.1%
209,694,150
(Cost $279,752,911)
Net Other Assets and
Liabilities — (2.1)%
(4,406,122
)
Net Assets — 100.0%
$205,288,028
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index. For a
breakdown of the portfolio securities by sector, please see the
Fund Performance Overview.
(b)
Non-income producing security.
(c)
All or a portion of this security is on loan (see Note 2E -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $4,632,655 and the total value of the collateral
held by the Fund is $4,871,324.
(d)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the
“1933 Act”) and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. This
security is not restricted on the foreign exchange where it
trades freely without any additional registration. As such, it
does not require the additional disclosure required of
restricted securities.
(e)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
(f)
Rate shown reflects yield as of September 30, 2023.
(g)
This security serves as collateral for securities on loan.
Currency Exposure Diversification
% of Total
Investments
Euro
32.0%
United States Dollar
18.3
Danish Krone
15.0
Canadian Dollar
12.2
Hong Kong Dollar
7.8
Japanese Yen
4.0
Swedish Krona
3.6
Swiss Franc
2.3
New Taiwan Dollar
1.7
South Korean Won
1.3
Norwegian Krone
1.0
Brazilian Real
0.8
Total
100.0%
See Notes to Financial Statements
Page 45

First Trust Global Wind Energy ETF (FAN)
Portfolio of Investments (Continued)
September 30, 2023 

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$204,735,206
$204,735,206
$
$
Money Market
Funds
87,620
87,620
Repurchase
Agreements
4,871,324
4,871,324
Total Investments
$209,694,150
$204,822,826
$4,871,324
$
*
See Portfolio of Investments for country breakout.

Offsetting Assets and Liabilities
Offsetting assets and liabilities requires entities to disclose both gross and net information about instruments and transactions eligible for offset, and to disclose instruments and transactions subject to master netting or similar agreements (see Note 2C - Offsetting on the Statements of Assets and Liabilities in the Notes to Financial Statements).
The Fund’s loaned securities were all subject to an enforceable Securities Lending Agency Agreement. Securities lent in accordance with the Securities Lending Agency Agreement on a gross basis were as follows:
Securities Lending Agency Agreement
Total gross amount presented on the Statements
of Assets and Liabilities(1)
$4,632,655
Non-cash Collateral(2)
(4,632,655
)
Net Amount
$
(1)
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
(2)
At September 30, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
The Fund’s investments in repurchase agreements were all subject to an enforceable Master Repurchase Agreement. Repurchase Agreements on a gross basis were as follows:
Repurchase Agreements
Total gross amount presented on the Statements
of Assets and Liabilities(3)
$4,871,324
Non-cash Collateral(4)
(4,871,324
)
Net Amount
$
(3)
The amount is included in “Investments, at value” on the
Statements of Assets and Liabilities.
(4)
At September 30, 2023, the value of the collateral received
from each seller exceeded the value of the repurchase
agreements.
See Notes to Financial Statements
Page 46

First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 99.8%
Building Products — 9.2%
663
Allegion PLC
$69,085
582
Builders FirstSource, Inc. (b)
72,453
303
Carlisle Cos., Inc.
78,556
1,533
Carrier Global Corp.
84,622
1,184
Johnson Controls
International PLC
63,001
241
Lennox International, Inc.
90,240
1,356
Masco Corp.
72,478
610
Owens Corning
83,210
417
Trane Technologies PLC
84,613
 
698,258
Construction & Engineering
— 2.9%
930
AECOM
77,227
411
Quanta Services, Inc.
76,886
1,680
WillScot Mobile Mini Holdings
Corp. (b)
69,871
 
223,984
Construction Materials —
1.9%
179
Martin Marietta Materials, Inc.
73,476
365
Vulcan Materials Co.
73,737
 
147,213
Electric Utilities — 14.4%
1,501
Alliant Energy Corp.
72,723
933
American Electric Power Co.,
Inc.
70,180
855
Constellation Energy Corp.
93,263
873
Duke Energy Corp.
77,051
1,148
Edison International
72,657
823
Entergy Corp.
76,128
1,346
Evergy, Inc.
68,242
1,115
Eversource Energy
64,837
1,931
Exelon Corp.
72,973
2,044
FirstEnergy Corp.
69,864
1,105
NextEra Energy, Inc.
63,305
4,515
PG&E Corp. (b)
72,827
3,034
PPL Corp.
71,481
1,140
Southern (The) Co.
73,781
1,266
Xcel Energy, Inc.
72,441
 
1,091,753
Electrical Equipment — 7.7%
515
AMETEK, Inc.
76,096
399
Eaton Corp. PLC
85,099
882
Emerson Electric Co.
85,175
245
Hubbell, Inc.
76,785
533
Regal Rexnord Corp.
76,155
Shares
Description
Value
 
Electrical Equipment
(Continued)
238
Rockwell Automation, Inc.
$68,037
3,073
Vertiv Holdings Co.
114,316
 
581,663
Energy Equipment & Services
— 3.3%
2,349
Baker Hughes Co.
82,966
2,158
Halliburton Co.
87,399
1,419
Schlumberger N.V.
82,728
 
253,093
Gas Utilities — 0.9%
677
Atmos Energy Corp.
71,715
Ground Transportation —
2.9%
2,416
CSX Corp.
74,292
349
Norfolk Southern Corp.
68,728
387
Union Pacific Corp.
78,805
 
221,825
Independent Power and
Renewable Electricity
Producers — 2.1%
3,731
AES (The) Corp.
56,711
3,050
Vistra Corp.
101,199
 
157,910
Industrial Conglomerates —
3.0%
792
3M Co.
74,147
732
General Electric Co.
80,922
390
Honeywell International, Inc.
72,049
 
227,118
IT Services — 8.2%
876
Akamai Technologies, Inc. (b)
93,329
1,205
Cloudflare, Inc., Class A (b)
75,963
1,054
GoDaddy, Inc., Class A (b)
78,502
200
MongoDB, Inc. (b)
69,172
1,108
Okta, Inc. (b)
90,313
442
Snowflake, Inc., Class A (b)
67,525
1,172
Twilio, Inc., Class A (b)
68,597
376
VeriSign, Inc. (b)
76,151
 
619,552
Machinery — 17.9%
318
Caterpillar, Inc.
86,814
320
Cummins, Inc.
73,107
543
Dover Corp.
75,754
1,088
Fortive Corp.
80,686
941
Graco, Inc.
68,580
383
IDEX Corp.
79,672
327
Illinois Tool Works, Inc.
75,311
1,222
Ingersoll Rand, Inc.
77,866
408
Lincoln Electric Holdings, Inc.
74,170
See Notes to Financial Statements
Page 47

First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD)
Portfolio of Investments (Continued)
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) (Continued)
Machinery (Continued)
329
Nordson Corp.
$73,423
915
Otis Worldwide Corp.
73,484
950
PACCAR, Inc.
80,769
204
Parker-Hannifin Corp.
79,462
1,220
Pentair PLC
78,995
280
Snap-on, Inc.
71,417
842
Stanley Black & Decker, Inc.
70,374
725
Westinghouse Air Brake
Technologies Corp.
77,046
735
Xylem, Inc.
66,907
 
1,363,837
Metals & Mining — 4.0%
1,936
Freeport-McMoRan, Inc.
72,194
481
Nucor Corp.
75,204
288
Reliance Steel & Aluminum Co.
75,522
755
Steel Dynamics, Inc.
80,951
 
303,871
Multi-Utilities — 9.5%
955
Ameren Corp.
71,463
2,677
CenterPoint Energy, Inc.
71,877
1,339
CMS Energy Corp.
71,114
869
Consolidated Edison, Inc.
74,326
1,536
Dominion Energy, Inc.
68,613
718
DTE Energy Co.
71,283
2,893
NiSource, Inc.
71,399
1,272
Public Service Enterprise Group,
Inc.
72,390
1,090
Sempra
74,153
890
WEC Energy Group, Inc.
71,689
 
718,307
Oil, Gas & Consumable Fuels
— 5.4%
518
Cheniere Energy, Inc.
85,967
4,628
Kinder Morgan, Inc.
76,732
1,247
ONEOK, Inc.
79,097
1,024
Targa Resources Corp.
87,778
2,378
Williams (The) Cos., Inc.
80,115
 
409,689
Specialized REITs — 4.7%
414
American Tower Corp.
68,082
706
Crown Castle, Inc.
64,973
689
Digital Realty Trust, Inc.
83,383
102
Equinix, Inc.
74,079
334
SBA Communications Corp.
66,857
 
357,374
Shares
Description
Value
 
Water Utilities — 1.8%
560
American Water Works Co., Inc.
$69,345
1,966
Essential Utilities, Inc.
67,493
 
136,838
Total Common Stocks
7,584,000
(Cost $7,384,601)
WARRANTS (a) — 0.0%
Construction & Engineering
— 0.0%
298
Webuild S.p.A., expiring 8/31/30
(EUR) (b) (c) (d)
3
(Cost $0)
Total Investments — 99.8%
7,584,003
(Cost $7,384,601)
Net Other Assets and
Liabilities — 0.2%
18,522
Net Assets — 100.0%
$7,602,525
(a)
Securities are issued in U.S. dollars unless otherwise
indicated in the security description.
(b)
Non-income producing security.
(c)
Pursuant to procedures adopted by the Trust’s Board of
Trustees, this security has been determined to be illiquid by
First Trust Advisors L.P., the Fund’s advisor.
(d)
This security is fair valued by the Advisor’s Pricing
Committee in accordance with procedures approved by the
Trust’s Board of Trustees, and in accordance with provisions
of the Investment Company Act of 1940 and rules
thereunder, as amended. At September 30, 2023, securities
noted as such are valued at $3 or 0.0% of net assets.
Abbreviations throughout the Portfolio of Investments:
EUR
Euro

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$7,584,000
$7,584,000
$
$
Warrants*
3
3
Total Investments
$7,584,003
$7,584,000
$3
$
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 48

First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund (GRID)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 99.7%
Austria — 0.1%
11,159
Verbund AG
$909,025
Belgium — 0.8%
82,767
Elia Group S.A./N.V.
8,107,377
Brazil — 3.6%
659,771
Alupar Investimento S.A.
3,774,958
4,821
Centrais Eletricas Brasileiras
S.A., ADR
35,241
425,323
Cia de Transmissao de Energia
Eletrica Paulista (Preference
Shares)
1,979,998
599,951
Cia Paranaense de Energia
5,297,038
663,302
Energisa S.A.
6,169,116
2,102,573
Equatorial Energia S.A.
13,410,488
745,805
Transmissora Alianca de Energia
Eletrica S.A.
5,127,775
196,536
WEG S.A.
1,418,142
 
37,212,756
Canada — 2.0%
45,556
Fortis, Inc.
1,730,340
17,980
Hammond Power Solutions
675,913
687,378
Hydro One Ltd. (b) (c)
17,500,115
4,711
Stella-Jones, Inc.
226,558
 
20,132,926
China — 0.3%
93,697
BYD Co., Ltd., Class H
2,895,520
Denmark — 0.6%
116,298
NKT A/S (d)
6,083,247
France — 9.8%
173,326
Engie S.A.
2,662,607
60,622
Nexans S.A.
4,938,336
505,709
Schneider Electric SE
83,931,066
292,170
SPIE S.A.
8,500,839
 
100,032,848
Germany — 1.8%
190,464
E.ON SE
2,255,322
113,737
Infineon Technologies AG
3,770,390
65,179
Siemens AG
9,348,399
41,317
SMA Solar Technology AG (d)
2,684,284
 
18,058,395
Ireland — 16.6%
377,827
Eaton Corp. PLC
80,582,943
1,329,867
Johnson Controls
International PLC
70,762,223
330,174
nVent Electric PLC
17,495,920
 
168,841,086
Italy — 4.9%
675,987
Enel S.p.A.
4,159,480
Shares
Description
Value
 
Italy (Continued)
556,565
Prysmian S.p.A.
$22,448,544
3,045,999
Terna - Rete Elettrica Nazionale
22,954,888
 
49,562,912
Japan — 1.4%
2,400
Daihen Corp.
81,263
7,035
GS Yuasa Corp.
125,363
87,824
Hitachi Ltd.
5,450,800
85,799
Meidensha Corp.
1,290,085
25,125
NGK Insulators Ltd.
333,229
94,900
Osaki Electric
431,191
229,870
Panasonic Holdings Corp.
2,587,268
152,200
Renesas Electronics Corp. (d)
2,327,711
74,400
Sumitomo Electric Industries
Ltd.
896,892
22,900
Takaoka Toko Co., Ltd.
321,955
 
13,845,757
Jersey — 4.1%
428,980
Aptiv PLC (d)
42,293,138
Netherlands — 0.6%
42,378
Alfen N.V. (b) (c) (d) (e)
1,798,887
19,797
NXP Semiconductors N.V.
3,957,816
7,269
STMicroelectronics N.V.
313,730
 
6,070,433
Portugal — 0.3%
215,505
EDP - Energias de Portugal S.A.
896,789
765,532
REN - Redes Energeticas
Nacionais SGPS S.A.
1,958,648
 
2,855,437
South Korea — 4.0%
341
Hyosung Heavy Industries
Corp. (d)
42,960
38,239
Hyundai Electric & Energy
System Co., Ltd.
1,887,296
34,518
Iljin Electric Co., Ltd.
332,288
25,979
LS Electric Co., Ltd.
1,798,161
93,685
Samsung SDI Co., Ltd.
35,546,702
161,649
Taihan Electric Wire Co.,
Ltd. (d)
1,453,092
 
41,060,499
Spain — 1.9%
511,437
Iberdrola S.A.
5,728,895
878,537
Redeia Corp., S.A.
13,834,972
 
19,563,867
Switzerland — 8.3%
2,281,928
ABB Ltd.
81,768,983
46,313
Landis+Gyr Group AG
3,354,511
 
85,123,494
Taiwan — 1.3%
50,546
Advantech Co., Ltd.
540,214
534,590
Allis Electric Co., Ltd.
857,848
See Notes to Financial Statements
Page 49

First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund (GRID)
Portfolio of Investments (Continued)
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) (Continued)
Taiwan (Continued)
40,520
Chung-Hsin Electric &
Machinery Manufacturing
Corp.
$134,939
423,874
Fortune Electric Co., Ltd.
3,558,491
67,368
Ta Ya Electric Wire & Cable
80,243
170,966
Voltronic Power Technology
Corp.
8,394,576
 
13,566,311
United Kingdom — 8.0%
6,704,586
National Grid PLC
80,167,085
89,857
SSE PLC
1,765,126
 
81,932,211
United States — 29.3%
64,393
Advanced Energy Industries,
Inc.
6,640,206
48,914
AES (The) Corp.
743,493
65,564
American Superconductor
Corp. (d)
495,008
44,333
Analog Devices, Inc.
7,762,265
3,927
Arcosa, Inc.
282,351
76,092
Atkore, Inc. (d)
11,352,166
1,757
AZZ, Inc.
80,084
3,525
Belden, Inc.
340,339
362,542
Cisco Systems, Inc.
19,490,258
2,661
Digi International, Inc. (d)
71,847
53,520
Emerson Electric Co.
5,168,426
3,459
EnerSys
327,464
274,532
Enphase Energy, Inc. (d)
32,985,020
1,883
ESCO Technologies, Inc.
196,661
89,795
Fluence Energy, Inc. (d)
2,064,387
5,829
Generac Holdings, Inc. (d)
635,128
87,656
General Electric Co.
9,690,371
62,179
Honeywell International, Inc.
11,486,948
97,529
Hubbell, Inc.
30,566,564
80,196
International Business Machines
Corp.
11,251,499
83,654
Itron, Inc. (d)
5,067,759
2,005
Littelfuse, Inc.
495,877
5,391
MasTec, Inc. (d)
387,990
30,387
MYR Group, Inc. (d)
4,094,952
44,089
NVIDIA Corp.
19,178,274
147,428
Oracle Corp.
15,615,574
6,066
Preformed Line Products Co.
986,210
99,286
QUALCOMM, Inc.
11,026,703
207,367
Quanta Services, Inc.
38,792,145
116,320
SolarEdge Technologies, Inc. (d)
15,064,603
84,315
Tesla, Inc. (d)
21,097,299
79,928
Texas Instruments, Inc.
12,709,351
21,860
Trimble, Inc. (d)
1,177,380
1,810
Valmont Industries, Inc.
434,780
Shares
Description
Value
 
United States (Continued)
3,899
WESCO International, Inc.
$560,754
27,666
Willdan Group, Inc. (d)
565,216
 
298,885,352
Total Common Stocks
1,017,032,591
(Cost $1,020,375,062)
MONEY MARKET FUNDS — 0.0%
253,077
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.19% (f) (g)
253,077
(Cost $253,077)
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 0.1%
$744,739
BNP Paribas S.A., 5.20% (f),
dated 09/29/23, due 10/02/23,
with a maturity value of
$745,062. Collateralized by
U.S. Treasury Securities,
interest rates of 4.00% to
5.44%, due 07/31/24 to
02/15/26. The value of the
collateral including accrued
interest is $759,554. (g)
744,739
(Cost $744,739)
Total Investments — 99.8%
1,018,030,407
(Cost $1,021,372,878)
Net Other Assets and
Liabilities — 0.2%
1,832,386
Net Assets — 100.0%
$1,019,862,793
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index. For a
breakdown of the portfolio securities by sector, please see the
Fund Performance Overview.
(b)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the
“1933 Act”) and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. This
security is not restricted on the foreign exchange where it
trades freely without any additional registration. As such, it
does not require the additional disclosure required of
restricted securities.
(c)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
(d)
Non-income producing security.
See Notes to Financial Statements
Page 50

First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund (GRID)
Portfolio of Investments (Continued)
September 30, 2023 
(e)
All or a portion of this security is on loan (see Note 2E -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $940,406 and the total value of the collateral
held by the Fund is $997,816.
(f)
Rate shown reflects yield as of September 30, 2023.
(g)
This security serves as collateral for securities on loan.
Abbreviations throughout the Portfolio of Investments:
ADR
American Depositary Receipt
Currency Exposure Diversification
% of Total
Investments
United States Dollar
50.6%
Euro
19.7
Swiss Franc
8.4
British Pound Sterling
8.0
South Korean Won
4.0
Brazilian Real
3.7
Canadian Dollar
2.0
Japanese Yen
1.4
New Taiwan Dollar
1.3
Danish Krone
0.6
Hong Kong Dollar
0.3
Total
100.0%

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common
Stocks*
$1,017,032,591
$1,017,032,591
$
$
Money Market
Funds
253,077
253,077
Repurchase
Agreements
744,739
744,739
Total
Investments
$1,018,030,407
$1,017,285,668
$744,739
$
*
See Portfolio of Investments for country breakout.

Offsetting Assets and Liabilities
Offsetting assets and liabilities requires entities to disclose both gross and net information about instruments and transactions eligible for offset, and to disclose instruments and transactions subject to master netting or similar agreements (see Note 2C - Offsetting on the Statements of Assets and Liabilities in the Notes to Financial Statements).
The Fund’s loaned securities were all subject to an enforceable Securities Lending Agency Agreement. Securities lent in accordance with the Securities Lending Agency Agreement on a gross basis were as follows:
Securities Lending Agency Agreement
Total gross amount presented on the Statements
of Assets and Liabilities(1)
$940,406
Non-cash Collateral(2)
(940,406
)
Net Amount
$
(1)
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
(2)
At September 30, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
The Fund’s investments in repurchase agreements were all subject to an enforceable Master Repurchase Agreement. Repurchase Agreements on a gross basis were as follows:
Repurchase Agreements
Total gross amount presented on the Statements
of Assets and Liabilities(3)
$744,739
Non-cash Collateral(4)
(744,739
)
Net Amount
$
(3)
The amount is included in “Investments, at value” on the
Statements of Assets and Liabilities.
(4)
At September 30, 2023, the value of the collateral received
from each seller exceeded the value of the repurchase
agreements.
See Notes to Financial Statements
Page 51

First Trust Indxx Global Natural Resources Income ETF (FTRI)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 98.6%
Australia — 17.7%
180,562
Champion Iron Ltd.
$731,382
119,759
GrainCorp Ltd., Class A
543,614
90,473
Mineral Resources Ltd.
3,934,013
484,390
Newcrest Mining Ltd.
7,636,478
622,475
Northern Star Resources Ltd.
4,186,307
446,799
Whitehaven Coal Ltd.
2,042,487
944,850
Woodside Energy Group Ltd.
22,167,370
 
41,241,651
Brazil — 13.6%
102,331
Cia de Saneamento de Minas
Gerais Copasa MG
352,399
1,554,187
Petroleo Brasileiro S.A., ADR
23,297,263
51,727
SLC Agricola S.A.
405,353
716,988
Suzano S.A., ADR
7,707,621
 
31,762,636
Canada — 12.4%
224,172
Agnico Eagle Mines Ltd.
10,188,617
100,121
Dundee Precious Metals, Inc.
619,191
259,671
Nutrien Ltd.
16,037,281
29,788
West Fraser Timber Co., Ltd.
2,162,632
 
29,007,721
Chile — 0.5%
580,585
Empresas CMPC S.A.
1,068,919
China — 8.0%
13,018,534
China Petroleum & Chemical
Corp., Class H
7,115,270
1,831,360
China Shenhua Energy Co., Ltd.,
Class H
5,940,090
585,400
Jiangxi Copper Co., Ltd.,
Class H
917,987
3,098,883
Zijin Mining Group Co., Ltd.,
Class H
4,740,755
 
18,714,102
Colombia — 4.4%
884,097
Ecopetrol S.A., ADR (b)
10,237,843
Germany — 0.5%
16,181
Aurubis AG
1,199,910
Hong Kong — 0.5%
1,537,837
Guangdong Investment Ltd.
1,174,349
India — 1.9%
1,232,112
Coal India Ltd.
4,379,985
Indonesia — 0.6%
7,599,768
Adaro Energy Indonesia Tbk PT
1,401,445
Ireland — 2.5%
89,111
Pentair PLC
5,769,937
Japan — 0.3%
16,200
Japan Petroleum Exploration
Co., Ltd.
610,319
Shares
Description
Value
 
Jersey — 0.3%
630,656
Centamin PLC
$642,891
Luxembourg — 0.3%
23,213
APERAM S.A.
677,358
Norway — 2.4%
165,840
Aker BP ASA
4,589,160
392,783
DNO ASA
388,132
212,092
Var Energi ASA
619,027
 
5,596,319
Poland — 0.8%
75,341
KGHM Polska Miedz S.A.
1,930,671
Portugal — 0.2%
116,173
Navigator (The) Co., S.A.
438,236
South Africa — 2.3%
484,380
Gold Fields Ltd., ADR
5,260,367
Sweden — 1.8%
146,240
Boliden AB
4,208,957
United States — 27.6%
46,617
Alliance Resource Partners,
L.P. (c)
1,050,281
17,270
Andersons (The), Inc.
889,578
279,529
Archer-Daniels-Midland Co.
21,082,077
31,012
California Water Service Group
1,467,178
104,111
CF Industries Holdings, Inc.
8,926,477
59,646
Chesapeake Energy Corp.
5,143,274
41,930
Civitas Resources, Inc.
3,390,879
67,210
FMC Corp.
4,501,054
15,660
SJW Group
941,323
46,269
Southern Copper Corp.
3,483,593
151,053
Tyson Foods, Inc., Class A
7,626,666
32,548
UFP Industries, Inc.
3,332,915
14,612
Watts Water Technologies, Inc.,
Class A
2,525,246
 
64,360,541
Total Common Stocks
229,684,157
(Cost $246,988,468)
MONEY MARKET FUNDS — 1.0%
2,344,642
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.19% (d) (e)
2,344,642
(Cost $2,344,642)
See Notes to Financial Statements
Page 52

First Trust Indxx Global Natural Resources Income ETF (FTRI)
Portfolio of Investments (Continued)
September 30, 2023 
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 3.0%
$6,899,678
BNP Paribas S.A., 5.20% (d),
dated 09/29/23, due 10/02/23,
with a maturity value of
$6,902,667. Collateralized by
U.S. Treasury Securities,
interest rates of 4.00% to
5.44%, due 07/31/24 to
02/15/26. The value of the
collateral including accrued
interest is $7,036,928. (e)
$6,899,678
(Cost $6,899,678)
Total Investments — 102.6%
238,928,477
(Cost $256,232,788)
Net Other Assets and
Liabilities — (2.6)%
(6,089,246
)
Net Assets — 100.0%
$232,839,231
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index. For a
breakdown of the portfolio securities by sector, please see the
Fund Performance Overview.
(b)
All or a portion of this security is on loan (see Note 2E -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $9,021,978 and the total value of the collateral
held by the Fund is $9,244,320.
(c)
Security is a Master Limited Partnership (“MLP”).
(d)
Rate shown reflects yield as of September 30, 2023.
(e)
This security serves as collateral for securities on loan.
Abbreviations throughout the Portfolio of Investments:
ADR
American Depositary Receipt
Currency Exposure Diversification
% of Total
Investments
United States Dollar
63.7%
Australian Dollar
17.3
Hong Kong Dollar
8.3
Norwegian Krone
2.3
Indian Rupee
1.8
Swedish Krona
1.8
Canadian Dollar
1.2
Euro
1.0
Polish Zloty
0.8
Indonesia Rupiah
0.6
Chilean Peso
0.4
Brazilian Real
0.3
British Pound Sterling
0.3
Japanese Yen
0.2
Total
100.0%

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$229,684,157
$229,684,157
$
$
Money Market
Funds
2,344,642
2,344,642
Repurchase
Agreements
6,899,678
6,899,678
Total Investments
$238,928,477
$232,028,799
$6,899,678
$
*
See Portfolio of Investments for country breakout.

Offsetting Assets and Liabilities
Offsetting assets and liabilities requires entities to disclose both gross and net information about instruments and transactions eligible for offset, and to disclose instruments and transactions subject to master netting or similar agreements (see Note 2C - Offsetting on the Statements of Assets and Liabilities in the Notes to Financial Statements).
The Fund’s loaned securities were all subject to an enforceable Securities Lending Agency Agreement. Securities lent in accordance with the Securities Lending Agency Agreement on a gross basis were as follows:
See Notes to Financial Statements
Page 53

First Trust Indxx Global Natural Resources Income ETF (FTRI)
Portfolio of Investments (Continued)
September 30, 2023 
Securities Lending Agency Agreement
Total gross amount presented on the Statements
of Assets and Liabilities(1)
$9,021,978
Non-cash Collateral(2)
(9,021,978
)
Net Amount
$
(1)
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
(2)
At September 30, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
The Fund’s investments in repurchase agreements were all subject to an enforceable Master Repurchase Agreement. Repurchase Agreements on a gross basis were as follows:
Repurchase Agreements
Total gross amount presented on the Statements
of Assets and Liabilities(3)
$6,899,678
Non-cash Collateral(4)
(6,899,678
)
Net Amount
$
(3)
The amount is included in “Investments, at value” on the
Statements of Assets and Liabilities.
(4)
At September 30, 2023, the value of the collateral received
from each seller exceeded the value of the repurchase
agreements.
See Notes to Financial Statements
Page 54

First Trust Indxx Global Agriculture ETF (FTAG)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 99.9%
Australia — 1.0%
50,610
Incitec Pivot Ltd.
$102,175
9,928
Nufarm Ltd.
30,320
 
132,495
Belgium — 0.5%
2,242
Tessenderlo Group S.A.
64,711
Bermuda — 3.3%
3,913
Bunge Ltd.
423,582
Canada — 4.6%
9,533
Nutrien Ltd.
588,719
Chile — 1.7%
3,710
Sociedad Quimica y Minera de
Chile S.A., ADR
221,376
Germany — 19.8%
22,722
BASF SE
1,031,781
24,695
Bayer AG
1,186,644
12,147
Evonik Industries AG
222,495
4,989
K+S AG
90,618
 
2,531,538
India — 9.4%
10,830
Chambal Fertilisers and
Chemicals Ltd.
36,106
7,652
Coromandel International Ltd.
105,628
4,616
EID Parry India Ltd.
29,014
2,869
Escorts Kubota Ltd.
110,042
4,058
Gujarat Narmada Valley
Fertilizers & Chemicals Ltd.
29,912
31,763
Mahindra & Mahindra Ltd.
594,495
12,963
Sumitomo Chemical India Ltd.
65,938
6,620
Tata Chemicals Ltd.
82,207
19,504
UPL Ltd.
144,739
 
1,198,081
Israel — 1.5%
33,660
ICL Group Ltd.
185,936
Japan — 7.0%
30,800
Kubota Corp.
454,251
5,200
Mitsui Chemicals, Inc.
134,906
3,600
Nissan Chemical Corp.
153,188
1,200
Sakata Seed Corp.
34,890
43,200
Sumitomo Chemical Co., Ltd.
117,655
 
894,890
Malaysia — 2.5%
207,801
Petronas Chemicals Group Bhd
318,213
Mexico — 0.9%
52,328
Orbia Advance Corp. S.A.B. de
C.V.
108,725
Shares
Description
Value
 
Netherlands — 4.5%
34,662
CNH Industrial N.V.
$419,410
5,500
OCI N.V.
153,455
 
572,865
Qatar — 4.6%
157,157
Industries Qatar QSC
591,929
Russia — 0.0%
1,918
PhosAgro PJSC (b) (c) (d)
0
Singapore — 3.6%
166,800
Wilmar International Ltd.
455,131
Switzerland — 0.8%
267
Bucher Industries AG
102,267
Turkey — 1.6%
8,690
Gubre Fabrikalari T.A.S. (e)
114,383
2,605
Turk Traktor ve Ziraat
Makineleri A.S.
83,695
 
198,078
United Arab Emirates — 1.6%
215,664
Fertiglobe PLC
204,916
United States — 31.0%
708
AdvanSix, Inc.
22,005
1,945
AGCO Corp.
230,055
312
Alamo Group, Inc.
53,932
5,012
CF Industries Holdings, Inc.
429,729
1,070
Compass Minerals International,
Inc.
29,906
17,981
Corteva, Inc.
919,908
275
CVR Partners, L.P. (f)
22,718
3,199
Deere & Co.
1,207,239
3,240
FMC Corp.
216,983
286
Lindsay Corp.
33,656
8,631
Mosaic (The) Co.
307,264
1,459
Scotts Miracle-Gro (The) Co.
75,401
1,170
SiteOne Landscape Supply,
Inc. (e)
191,236
2,699
Toro (The) Co.
224,287
 
3,964,319
Total Investments — 99.9%
12,757,771
(Cost $15,940,191)
Net Other Assets and
Liabilities — 0.1%
11,755
Net Assets — 100.0%
$12,769,526
See Notes to Financial Statements
Page 55

First Trust Indxx Global Agriculture ETF (FTAG)
Portfolio of Investments (Continued)
September 30, 2023 
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index. For a
breakdown of the portfolio securities by sector, please see the
Fund Performance Overview.
(b)
Pursuant to procedures adopted by the Trust’s Board of
Trustees, this security has been determined to be illiquid by
First Trust Advisors L.P., the Fund’s advisor.
(c)
This security is fair valued by the Advisor’s Pricing
Committee in accordance with procedures approved by the
Trust’s Board of Trustees, and in accordance with provisions
of the Investment Company Act of 1940 and rules
thereunder, as amended. At September 30, 2023, securities
noted as such are valued at $0 or 0.0% of net assets.
(d)
This security’s value was determined using significant
unobservable inputs (see Note2A- Portfolio Valuation in the
Notes to Financial Statements).
(e)
Non-income producing security.
(f)
Security is a Master Limited Partnership (“MLP”).
Abbreviations throughout the Portfolio of Investments:
ADR
American Depositary Receipt
Currency Exposure Diversification
% of Total
Investments
United States Dollar
39.4%
Euro
21.6
Indian Rupee
9.4
Japanese Yen
7.0
Qatar Riyal
4.6
Canadian Dollar
4.6
Singapore Dollar
3.6
Malaysia Ringgit
2.5
United Arab Emirates Dirham
1.6
Turkish Lira
1.6
Israeli Shekel
1.5
Australian Dollar
1.0
Mexican Peso
0.8
Swiss Franc
0.8
Russian Ruble
0.0
Total
100.0%
Investment is valued at $0.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks:
Russia
$—**
$
$
$—**
Other Country
Categories*
12,757,771
12,757,771
Total Investments
$12,757,771
$12,757,771
$
$—**
*
See Portfolio of Investments for country breakout.
**
Investment is valued at $0.
Level 3 investments are fair valued by the Advisor’s Pricing Committee and are footnoted in the Portfolio of Investments. All Level 3 values are based on unobservable inputs.
See Notes to Financial Statements
Page 56

First Trust Indxx NextG ETF (NXTG)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 99.8%
Australia — 0.5%
734,246
Telstra Group Ltd.
$1,817,522
Brazil — 0.5%
239,592
Telefonica Brasil S.A., ADR
2,048,512
Canada — 1.4%
46,296
BCE, Inc.
1,767,309
48,925
Rogers Communications, Inc.,
Class B
1,878,475
112,088
TELUS Corp.
1,830,379
 
5,476,163
Cayman Islands — 1.5%
3,599,673
Xiaomi Corp., Class B (b) (c) (d)
5,672,360
China — 2.4%
43,515,790
China Tower Corp., Ltd.,
Class H (b) (d)
4,167,674
1,588,722
ZTE Corp., Class H
4,798,048
 
8,965,722
Finland — 2.3%
90,992
Elisa Oyj
4,222,275
1,252,664
Nokia Oyj, ADR
4,684,963
 
8,907,238
France — 0.6%
186,427
Orange S.A.
2,140,506
Germany — 2.0%
104,750
Deutsche Telekom AG
2,200,320
126,619
Infineon Technologies AG
4,197,430
756,850
Telefonica Deutschland Holding
AG
1,356,305
 
7,754,055
Guernsey — 1.2%
53,536
Amdocs Ltd.
4,523,257
Hong Kong — 1.4%
5,221,497
Lenovo Group Ltd.
5,380,890
India — 7.7%
210,146
Bharti Airtel Ltd.
2,344,368
366,287
HCL Technologies Ltd.
5,446,584
323,713
Infosys Ltd., ADR
5,538,729
127,521
Tata Consultancy Services Ltd.
5,418,640
385,246
Tech Mahindra Ltd.
5,672,829
1,050,027
Wipro Ltd., ADR
5,082,131
 
29,503,281
Indonesia — 0.5%
7,599,598
Telkom Indonesia Persero Tbk
PT
1,843,966
Italy — 1.9%
397,479
Infrastrutture Wireless Italiane
S.p.A. (b) (d)
4,733,944
7,879,451
Telecom Italia S.p.A. (c)
2,466,676
 
7,200,620
Shares
Description
Value
 
Japan — 10.5%
36,932
Fujitsu Ltd.
$4,349,593
67,148
KDDI Corp.
2,056,587
89,771
Kyocera Corp.
4,557,632
354,565
Mitsubishi Electric Corp.
4,386,983
102,459
NEC Corp.
5,663,904
4,279,650
Nippon Telegraph & Telephone
Corp.
5,057,456
288,759
Renesas Electronics Corp. (c)
4,416,212
460,298
SoftBank Corp.
5,206,998
51,876
Sony Group Corp.
4,248,944
 
39,944,309
Malaysia — 0.6%
2,269,355
CelcomDigi Bhd
2,112,152
Mexico — 0.4%
1,892,109
America Movil S.A.B. de C.V.,
Series B
1,638,326
Netherlands — 3.2%
632,323
Koninklijke KPN N.V.
2,085,125
26,662
NXP Semiconductors N.V.
5,330,267
106,521
STMicroelectronics N.V.
4,615,703
 
12,031,095
New Zealand — 0.5%
679,021
Spark New Zealand Ltd.
1,957,536
Norway — 0.6%
209,703
Telenor ASA
2,381,953
Philippines — 0.6%
69,420
Globe Telecom, Inc.
2,200,050
Qatar — 0.6%
724,452
Ooredoo QPSC
2,127,580
Russia — 0.0%
755,018
Mobile TeleSystems PJSC,
ADR (c) (e) (f) (g)
0
Singapore — 0.5%
1,166,652
Singapore Telecommunications
Ltd.
2,065,324
South Africa — 1.0%
298,264
MTN Group Ltd.
1,777,730
344,893
Vodacom Group Ltd.
1,926,501
 
3,704,231
South Korea — 4.8%
182,482
KT Corp., ADR (h)
2,339,419
51,429
LG Electronics, Inc.
3,845,551
91,905
Samsung Electronics Co., Ltd.
4,658,590
51,633
Samsung SDS Co., Ltd.
5,173,249
56,035
SK Telecom Co., Ltd.
2,159,345
 
18,176,154
See Notes to Financial Statements
Page 57

First Trust Indxx NextG ETF (NXTG)
Portfolio of Investments (Continued)
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) (Continued)
Spain — 1.0%
52,342
Cellnex Telecom S.A. (b) (d)
$1,824,513
509,644
Telefonica S.A.
2,084,160
 
3,908,673
Sweden — 2.2%
245,008
Tele2 AB, Class B
1,876,544
957,796
Telefonaktiebolaget LM
Ericsson, Class B (h)
4,675,212
939,232
Telia Co., AB
1,940,265
 
8,492,021
Switzerland — 0.5%
3,458
Swisscom AG
2,055,873
Taiwan — 9.1%
428,123
Advantech Co., Ltd.
4,575,593
1,255,122
ASE Technology Holding Co.,
Ltd.
4,257,551
523,589
Chunghwa Telecom Co., Ltd.
1,881,517
473,084
Delta Electronics, Inc.
4,755,681
830,567
Far EasTone
Telecommunications Co., Ltd.
1,870,548
200,198
MediaTek, Inc.
4,558,341
1,485,530
Taiwan Mobile Co., Ltd.
4,353,437
50,011
Taiwan Semiconductor
Manufacturing Co., Ltd., ADR
4,345,956
2,985,484
United Microelectronics Corp.
4,180,353
 
34,778,977
Thailand — 0.6%
341,300
Advanced Info Service PCL
2,137,079
United Arab Emirates — 0.5%
348,555
Emirates Telecommunications
Group Co. PJSC
1,939,659
United Kingdom — 1.6%
2,702,471
BT Group PLC
3,847,955
2,289,117
Vodafone Group PLC
2,145,558
 
5,993,513
United States — 37.1%
41,290
Advanced Micro Devices,
Inc. (c)
4,245,438
26,303
American Tower Corp.
4,325,528
27,511
Analog Devices, Inc.
4,816,901
27,680
Apple, Inc.
4,739,093
30,792
Arista Networks, Inc. (c)
5,663,573
132,395
AT&T, Inc.
1,988,573
6,215
Broadcom, Inc.
5,162,055
117,520
Ciena Corp. (c)
5,553,995
100,606
Cisco Systems, Inc.
5,408,579
43,251
Crown Castle, Inc.
3,980,390
47,824
Digital Realty Trust, Inc.
5,787,660
6,662
Equinix, Inc.
4,838,344
34,203
F5, Inc. (c)
5,511,471
Shares
Description
Value
 
United States (Continued)
316,337
Hewlett Packard Enterprise Co.
$5,494,774
157,075
Intel Corp.
5,584,016
37,186
International Business Machines
Corp.
5,217,196
166,272
Juniper Networks, Inc.
4,620,699
30,780
Keysight Technologies, Inc. (c)
4,072,502
83,693
Marvell Technology, Inc.
4,530,302
61,896
Microchip Technology, Inc.
4,830,983
76,518
Micron Technology, Inc.
5,205,520
17,901
Motorola Solutions, Inc.
4,873,368
12,979
NVIDIA Corp.
5,645,735
50,466
Qorvo, Inc. (c)
4,817,989
42,958
QUALCOMM, Inc.
4,770,915
21,828
SBA Communications Corp.
4,369,311
47,484
Skyworks Solutions, Inc.
4,681,448
16,326
T-Mobile US, Inc. (c)
2,286,456
60,050
Verizon Communications, Inc.
1,946,220
37,538
VMware, Inc., Class A (c)
6,249,326
 
141,218,360
Total Common Stocks
380,096,957
(Cost $408,268,476)
MONEY MARKET FUNDS — 0.4%
1,631,948
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.19% (i) (j)
1,631,948
(Cost $1,631,948)
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 1.3%
$4,802,403
BNP Paribas S.A., 5.20% (i),
dated 09/29/23, due 10/02/23,
with a maturity value of
$4,804,484. Collateralized by
U.S. Treasury Securities,
interest rates of 4.00% to
5.44%, due 07/31/24 to
02/15/26. The value of the
collateral including accrued
interest is $4,897,933. (j)
4,802,403
(Cost $4,802,403)
Total Investments — 101.5%
386,531,308
(Cost $414,702,827)
Net Other Assets and
Liabilities — (1.5)%
(5,601,216
)
Net Assets — 100.0%
$380,930,092
See Notes to Financial Statements
Page 58

First Trust Indxx NextG ETF (NXTG)
Portfolio of Investments (Continued)
September 30, 2023 
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index. For a
breakdown of the portfolio securities by sector, please see the
Fund Performance Overview.
(b)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the
“1933 Act”) and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. This
security is not restricted on the foreign exchange where it
trades freely without any additional registration. As such, it
does not require the additional disclosure required of
restricted securities.
(c)
Non-income producing security.
(d)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
(e)
Pursuant to procedures adopted by the Trust’s Board of
Trustees, this security has been determined to be illiquid by
First Trust Advisors L.P., the Fund’s advisor.
(f)
This security is fair valued by the Advisor’s Pricing
Committee in accordance with procedures approved by the
Trust’s Board of Trustees, and in accordance with provisions
of the Investment Company Act of 1940 and rules
thereunder, as amended. At September 30, 2023, securities
noted as such are valued at $0 or 0.0% of net assets.
(g)
This security’s value was determined using significant
unobservable inputs (see Note2A- Portfolio Valuation in the
Notes to Financial Statements).
(h)
All or a portion of this security is on loan (see Note 2E -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $6,231,889 and the total value of the collateral
held by the Fund is $6,434,351.
(i)
Rate shown reflects yield as of September 30, 2023.
(j)
This security serves as collateral for securities on loan.
Abbreviations throughout the Portfolio of Investments:
ADR
American Depositary Receipt
Currency Exposure Diversification
% of Total
Investments
United States Dollar
47.0%
Japanese Yen
10.3
Euro
8.3
New Taiwan Dollar
7.9
Hong Kong Dollar
5.2
Indian Rupee
4.9
South Korean Won
4.1
Swedish Krona
2.2
British Pound Sterling
1.5
Canadian Dollar
1.4
South African Rand
1.0
Norwegian Krone
0.6
Philippines Peso
0.6
Thai Baht
0.6
Qatar Riyal
0.5
Malaysia Ringgit
0.5
Singapore Dollar
0.5
Swiss Franc
0.5
New Zealand Dollar
0.5
United Arab Emirates Dirham
0.5
Indonesia Rupiah
0.5
Australian Dollar
0.5
Mexican Peso
0.4
Total
100.0%
See Notes to Financial Statements
Page 59

First Trust Indxx NextG ETF (NXTG)
Portfolio of Investments (Continued)
September 30, 2023 

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common
Stocks:
Russia
$—**
$
$
$—**
Thailand
2,137,079
2,137,079
Other Country
Categories*
377,959,878
377,959,878
Money Market
Funds
1,631,948
1,631,948
Repurchase
Agreements
4,802,403
4,802,403
Total
Investments
$386,531,308
$379,591,826
$6,939,482
$—**
*
See Portfolio of Investments for country breakout.
**
Investment is valued at $0.
Level 3 investments are fair valued by the Advisor’s Pricing Committee and are footnoted in the Portfolio of Investments. All Level 3 values are based on unobservable inputs.

Offsetting Assets and Liabilities
Offsetting assets and liabilities requires entities to disclose both gross and net information about instruments and transactions eligible for offset, and to disclose instruments and transactions subject to master netting or similar agreements (see Note 2C - Offsetting on the Statements of Assets and Liabilities in the Notes to Financial Statements).
The Fund’s loaned securities were all subject to an enforceable Securities Lending Agency Agreement. Securities lent in accordance with the Securities Lending Agency Agreement on a gross basis were as follows:
Securities Lending Agency Agreement
Total gross amount presented on the Statements
of Assets and Liabilities(1)
$6,231,889
Non-cash Collateral(2)
(6,231,889
)
Net Amount
$
(1)
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
(2)
At September 30, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
The Fund’s investments in repurchase agreements were all subject to an enforceable Master Repurchase Agreement. Repurchase Agreements on a gross basis were as follows:
Repurchase Agreements
Total gross amount presented on the Statements
of Assets and Liabilities(3)
$4,802,403
Non-cash Collateral(4)
(4,802,403
)
Net Amount
$
(3)
The amount is included in “Investments, at value” on the
Statements of Assets and Liabilities.
(4)
At September 30, 2023, the value of the collateral received
from each seller exceeded the value of the repurchase
agreements.
See Notes to Financial Statements
Page 60

First Trust S-Network Future Vehicles & Technology ETF (CARZ)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 99.4%
Australia — 1.7%
20,043
Allkem Ltd. (b)
$151,547
21,196
IGO Ltd.
172,530
370,518
Nickel Industries Ltd.
178,669
65,878
Pilbara Minerals Ltd.
182,132
 
684,878
Austria — 0.4%
31,419
ams-OSRAM AG (b) (c)
148,145
Belgium — 0.5%
1,959
Solvay S.A.
217,160
Canada — 0.9%
11,042
Lithium Americas Corp. (b)
187,825
3,856
Magna International, Inc.
206,720
 
394,545
Cayman Islands — 4.3%
2,745
Ambarella, Inc. (b)
145,567
2,277
Baidu, Inc., ADR (b)
305,915
184,009
Geely Automobile Holdings Ltd.
217,119
30,612
Himax Technologies, Inc., ADR
178,774
6,841
Li Auto, Inc., ADR (b)
243,882
21,479
NIO, Inc., ADR (b) (c)
194,170
16,461
XPeng, Inc., ADR (b) (c)
302,224
103,206
Yadea Group Holdings
Ltd. (d) (e)
191,626
 
1,779,277
Chile — 0.4%
2,947
Sociedad Quimica y Minera de
Chile S.A., ADR (c)
175,847
China — 2.0%
7,858
BYD Co., Ltd., Class H
242,836
34,734
Ganfeng Lithium Group Co.,
Ltd., Class H (d) (e)
142,601
188,859
Great Wall Motor Co., Ltd.,
Class H
225,253
35,004
Tianqi Lithium Corp.,
Class H (c)
196,007
 
806,697
France — 1.7%
4,280
Schneider Electric SE
710,339
Germany — 3.8%
2,913
Bayerische Motoren Werke AG
296,828
2,966
Continental AG
209,346
10,559
Infineon Technologies AG
350,032
6,980
Mercedes-Benz Group AG
486,242
1,537
Wacker Chemie AG
220,431
 
1,562,879
Indonesia — 0.5%
1,023,450
Merdeka Copper Gold Tbk
PT (b)
190,717
Shares
Description
Value
 
Japan — 7.6%
7,200
Aisin Corp.
$272,216
14,000
Denso Corp.
224,933
33,792
Honda Motor Co., Ltd.
380,341
56,209
Nissan Motor Co., Ltd.
248,359
19,100
Panasonic Holdings Corp.
214,977
11,900
Renesas Electronics Corp. (b)
181,996
12,810
Subaru Corp.
249,103
74,960
Toyota Motor Corp.
1,343,050
 
3,114,975
Jersey — 0.5%
2,285
Aptiv PLC (b)
225,278
Netherlands — 3.8%
3,688
Alfen N.V. (b) (d) (e)
156,550
1,060
Ferrari N.V.
313,273
2,107
NXP Semiconductors N.V.
421,232
17,647
Stellantis N.V.
339,749
7,396
STMicroelectronics N.V.
319,211
7,107
Yandex N.V.,
Class A (b) (f) (g) (h)
0
 
1,550,015
South Korea — 8.5%
1,046
Ecopro BM Co., Ltd.
196,115
1,264
Hyundai Mobis Co., Ltd.
225,279
1,447
Hyundai Motor Co.
204,922
3,365
Kia Corp.
202,987
439
LG Chem Ltd.
161,526
5,525
Lotte Energy Materials Corp. (c)
162,958
2,410
LX Semicon Co., Ltd.
148,058
36,858
Samsung Electronics Co., Ltd.
1,868,302
423
Samsung SDI Co., Ltd.
160,498
3,261
SK IE Technology Co.,
Ltd. (b) (d) (e)
178,831
 
3,509,476
Sweden — 0.7%
13,705
Volvo AB, Class B
282,992
Switzerland — 0.8%
2,555
TE Connectivity Ltd.
315,619
Taiwan — 4.1%
19,703
Taiwan Semiconductor
Manufacturing Co., Ltd., ADR
1,712,191
United Kingdom — 0.3%
49,070
Polestar Automotive Holding
UK PLC, Class A,
ADR (b) (c)
129,545
United States — 56.9%
19,636
Adeia, Inc.
209,712
17,944
Advanced Micro Devices,
Inc. (b)
1,845,002
956
Albemarle Corp.
162,558
4,485
Allegro MicroSystems, Inc. (b)
143,251
See Notes to Financial Statements
Page 61

First Trust S-Network Future Vehicles & Technology ETF (CARZ)
Portfolio of Investments (Continued)
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) (Continued)
United States (Continued)
16,702
Alphabet, Inc., Class A (b)
$2,185,624
4,055
Analog Devices, Inc.
709,990
10,917
Apple, Inc.
1,869,100
70,249
Aurora Innovation, Inc. (b)
165,085
4,923
BorgWarner, Inc.
198,741
8,118
Cerence, Inc. (b)
165,364
26,115
ChargePoint Holdings,
Inc. (b) (c)
129,791
2,829
Cirrus Logic, Inc. (b)
209,233
1,130
Cummins, Inc.
258,160
34,702
Fisker, Inc. (b) (c)
222,787
31,846
Ford Motor Co.
395,527
11,264
General Motors Co.
371,374
24,000
indie Semiconductor, Inc.,
Class A (b)
151,200
33,859
Intel Corp.
1,203,687
1,504
Lear Corp.
201,837
8,141
Livent Corp. (b)
149,876
32,460
Lucid Group, Inc. (b) (c)
181,451
30,571
Luminar Technologies,
Inc. (b) (c)
139,098
6,924
Marvell Technology, Inc.
374,796
6,887
MaxLinear, Inc. (b)
153,236
4,337
Microchip Technology, Inc.
338,503
8,842
Micron Technology, Inc.
601,521
6,070
Microsoft Corp.
1,916,602
5,352
Mobileye Global, Inc.,
Class A (b)
222,376
104,107
Nikola Corp. (b) (c)
163,448
4,524
NVIDIA Corp.
1,967,895
3,486
ON Semiconductor Corp. (b)
324,024
4,169
PACCAR, Inc.
354,448
18,699
Plug Power, Inc. (b) (c)
142,112
2,163
Qorvo, Inc. (b)
206,502
9,037
QUALCOMM, Inc.
1,003,649
3,562
Rambus, Inc. (b)
198,724
9,056
Rivian Automotive, Inc.,
Class A (b)
219,880
1,399
Silicon Laboratories, Inc. (b)
162,130
1,767
SiTime Corp. (b)
201,880
2,023
Skyworks Solutions, Inc.
199,448
2,449
Synaptics, Inc. (b)
219,038
7,485
Tesla, Inc. (b)
1,872,897
7,361
Texas Instruments, Inc.
1,170,473
3,436
Wolfspeed, Inc. (b)
130,912
 
23,412,942
Total Common Stocks
40,923,517
(Cost $44,585,999)
Shares
Description
Value
MONEY MARKET FUNDS — 1.3%
545,162
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.19% (i) (j)
$545,162
(Cost $545,162)
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 3.9%
$1,604,271
BNP Paribas S.A., 5.20% (i),
dated 09/29/23, due 10/02/23,
with a maturity value of
$1,604,966. Collateralized by
U.S. Treasury Securities,
interest rates of 4.00% to
5.44%, due 07/31/24 to
02/15/26. The value of the
collateral including accrued
interest is $1,636,184. (j)
1,604,271
(Cost $1,604,271)
Total Investments — 104.6%
43,072,950
(Cost $46,735,432)
Net Other Assets and
Liabilities — (4.6)%
(1,900,724
)
Net Assets — 100.0%
$41,172,226
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index. For a
breakdown of the portfolio securities by sector, please see the
Fund Performance Overview.
(b)
Non-income producing security.
(c)
All or a portion of this security is on loan (see Note 2E -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $2,077,389 and the total value of the collateral
held by the Fund is $2,149,433.
(d)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the
“1933 Act”) and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. This
security is not restricted on the foreign exchange where it
trades freely without any additional registration. As such, it
does not require the additional disclosure required of
restricted securities.
(e)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
See Notes to Financial Statements
Page 62

First Trust S-Network Future Vehicles & Technology ETF (CARZ)
Portfolio of Investments (Continued)
September 30, 2023 
(f)
Pursuant to procedures adopted by the Trust’s Board of
Trustees, this security has been determined to be illiquid by
First Trust Advisors L.P., the Fund’s advisor.
(g)
This security is fair valued by the Advisor’s Pricing
Committee in accordance with procedures approved by the
Trust’s Board of Trustees, and in accordance with provisions
of the Investment Company Act of 1940 and rules
thereunder, as amended. At September 30, 2023, securities
noted as such are valued at $0 or 0.0% of net assets.
(h)
This security’s value was determined using significant
unobservable inputs (see Note2A- Portfolio Valuation in the
Notes to Financial Statements).
(i)
Rate shown reflects yield as of September 30, 2023.
(j)
This security serves as collateral for securities on loan.
Abbreviations throughout the Portfolio of Investments:
ADR
American Depositary Receipt
Currency Exposure Diversification
% of Total
Investments
United States Dollar
71.8%
South Korean Won
8.2
Japanese Yen
7.2
Euro
6.9
Hong Kong Dollar
2.8
Australian Dollar
1.6
Swedish Krona
0.7
Indonesia Rupiah
0.4
Swiss Franc
0.4
Total
100.0%

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks:
Netherlands
$1,550,015
$1,550,015
$
$—**
Other Country
Categories*
39,373,502
39,373,502
Money Market Funds
545,162
545,162
Repurchase
Agreements
1,604,271
1,604,271
Total Investments
$43,072,950
$41,468,679
$1,604,271
$—**
*
See Portfolio of Investments for country breakout.
**
Investment is valued at $0.
Level 3 investments are fair valued by the Advisor’s Pricing Committee and are footnoted in the Portfolio of Investments. All Level 3 values are based on unobservable inputs.

Offsetting Assets and Liabilities
Offsetting assets and liabilities requires entities to disclose both gross and net information about instruments and transactions eligible for offset, and to disclose instruments and transactions subject to master netting or similar agreements (see Note 2C - Offsetting on the Statements of Assets and Liabilities in the Notes to Financial Statements).
The Fund’s loaned securities were all subject to an enforceable Securities Lending Agency Agreement. Securities lent in accordance with the Securities Lending Agency Agreement on a gross basis were as follows:
Securities Lending Agency Agreement
Total gross amount presented on the Statements
of Assets and Liabilities(1)
$2,077,389
Non-cash Collateral(2)
(2,077,389
)
Net Amount
$
(1)
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
(2)
At September 30, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
The Fund’s investments in repurchase agreements were all subject to an enforceable Master Repurchase Agreement. Repurchase Agreements on a gross basis were as follows:
Repurchase Agreements
Total gross amount presented on the Statements
of Assets and Liabilities(3)
$1,604,271
Non-cash Collateral(4)
(1,604,271
)
Net Amount
$
(3)
The amount is included in “Investments, at value” on the
Statements of Assets and Liabilities.
(4)
At September 30, 2023, the value of the collateral received
from each seller exceeded the value of the repurchase
agreements.
See Notes to Financial Statements
Page 63

First Trust Cloud Computing ETF (SKYY)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 99.9%
Canada — 2.2%
432,776
Open Text Corp.
$15,190,438
786,144
Shopify, Inc., Class A (b)
42,899,878
 
58,090,316
Germany — 1.2%
249,460
SAP SE, ADR (c)
32,260,167
Israel — 1.2%
352,813
Wix.com Ltd. (b)
32,388,233
Netherlands — 0.9%
281,570
Elastic N.V. (b)
22,874,747
United States — 94.4%
93,451
Adobe, Inc. (b)
47,650,665
663,191
Akamai Technologies, Inc. (b)
70,656,369
767,732
Alphabet, Inc., Class A (b)
100,465,410
757,491
Amazon.com, Inc. (b)
96,292,256
90,383
Appfolio, Inc., Class A (b)
16,506,647
715,545
Appian Corp., Class A (b)
32,636,007
1,209,413
AppLovin Corp., Class A (b)
48,328,143
535,481
Arista Networks, Inc. (b)
98,491,020
810,779
Asana, Inc., Class A (b)
14,845,363
256,150
Atlassian Corp., Class A (b)
51,616,787
228,930
Blackbaud, Inc. (b)
16,098,358
290,105
BlackLine, Inc. (b)
16,092,124
657,991
Box, Inc., Class A (b)
15,929,962
1,215,243
Cisco Systems, Inc.
65,331,464
1,071,724
Cloudflare, Inc., Class A (b)
67,561,481
1,579,658
Confluent, Inc., Class A (b)
46,773,673
106,876
Crowdstrike Holdings, Inc.,
Class A (b)
17,888,905
180,594
Datadog, Inc., Class A (b)
16,450,307
929,427
Dell Technologies, Inc., Class C
64,037,520
1,495,065
DigitalOcean Holdings, Inc. (b)
35,926,412
346,393
DocuSign, Inc. (b)
14,548,506
761,081
Domo, Inc., Class B (b)
7,466,205
626,970
Dropbox, Inc., Class A (b)
17,072,393
1,719,997
Eventbrite, Inc., Class A (b)
16,959,170
702,278
Everbridge, Inc. (b)
15,745,073
2,197,178
Fastly, Inc., Class A (b)
42,119,902
1,103,459
Gitlab, Inc., Class A (b)
49,898,416
1,792,549
HashiCorp, Inc., Class A (b)
40,923,894
3,076,561
Hewlett Packard Enterprise Co.
53,439,865
95,645
HubSpot, Inc. (b)
47,105,163
711,987
International Business Machines
Corp.
99,891,776
32,159
Intuit, Inc.
16,431,319
22,358,531
Lumen Technologies, Inc. (b)
31,749,114
318,955
Microsoft Corp.
100,710,041
228,475
MongoDB, Inc. (b)
79,020,364
681,495
NetApp, Inc.
51,711,841
3,361,463
Nutanix, Inc., Class A (b)
117,247,829
Shares
Description
Value
 
United States (Continued)
868,356
Oracle Corp.
$91,976,268
71,612
Palo Alto Networks, Inc. (b)
16,788,717
59,093
Paycom Software, Inc.
15,321,042
86,898
Paylocity Holding Corp. (b)
15,789,367
2,857,109
Pure Storage, Inc., Class A (b)
101,770,223
506,356
Q2 Holdings, Inc. (b)
16,340,108
111,938
Qualys, Inc. (b)
17,076,142
1,512,723
RingCentral, Inc., Class A (b)
44,821,983
236,025
Salesforce, Inc. (b)
47,861,150
88,773
ServiceNow, Inc. (b)
49,620,556
417,532
Smartsheet, Inc., Class A (b)
16,893,345
111,087
Snowflake, Inc., Class A (b)
16,970,761
431,067
Splunk, Inc. (b)
63,043,549
325,431
Sprout Social, Inc., Class A (b)
16,232,498
577,898
Squarespace, Inc., Class A (b)
16,741,705
785,905
Toast, Inc., Class A (b)
14,720,001
217,716
Trade Desk (The), Inc.,
Class A (b)
17,014,505
820,450
Twilio, Inc., Class A (b)
48,020,939
83,485
Veeva Systems, Inc., Class A (b)
16,985,023
71,264
Workday, Inc., Class A (b)
15,311,070
467,333
Workiva, Inc. (b)
47,359,526
245,299
Zoom Video Communications,
Inc., Class A (b)
17,156,212
111,655
Zscaler, Inc. (b)
17,372,401
1,912,579
Zuora, Inc., Class A (b)
15,759,651
 
2,498,566,486
Total Common Stocks
2,644,179,949
(Cost $2,724,572,124)
MONEY MARKET FUNDS — 0.0%
761,564
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.19% (d) (e)
761,564
(Cost $761,564)
See Notes to Financial Statements
Page 64

First Trust Cloud Computing ETF (SKYY)
Portfolio of Investments (Continued)
September 30, 2023 
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 0.1%
$2,241,086
BNP Paribas S.A., 5.20% (d),
dated 09/29/23, due 10/02/23,
with a maturity value of
$2,242,057. Collateralized by
U.S. Treasury Securities,
interest rates of 4.00% to
5.44%, due 07/31/24 to
02/15/26. The value of the
collateral including accrued
interest is $2,285,666. (e)
$2,241,086
(Cost $2,241,086)
Total Investments — 100.0%
2,647,182,599
(Cost $2,727,574,774)
Net Other Assets and
Liabilities — (0.0)%
(1,137,587
)
Net Assets — 100.0%
$2,646,045,012
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index. For a
breakdown of the portfolio securities by sector, please see the
Fund Performance Overview.
(b)
Non-income producing security.
(c)
All or a portion of this security is on loan (see Note 2E -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $2,974,360 and the total value of the collateral
held by the Fund is $3,002,650.
(d)
Rate shown reflects yield as of September 30, 2023.
(e)
This security serves as collateral for securities on loan.
Abbreviations throughout the Portfolio of Investments:
ADR
American Depositary Receipt

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common
Stocks*
$2,644,179,949
$2,644,179,949
$
$
Money Market
Funds
761,564
761,564
Repurchase
Agreements
2,241,086
2,241,086
Total
Investments
$2,647,182,599
$2,644,941,513
$2,241,086
$
*
See Portfolio of Investments for country breakout.

Offsetting Assets and Liabilities
Offsetting assets and liabilities requires entities to disclose both gross and net information about instruments and transactions eligible for offset, and to disclose instruments and transactions subject to master netting or similar agreements (see Note 2C - Offsetting on the Statements of Assets and Liabilities in the Notes to Financial Statements).
The Fund’s loaned securities were all subject to an enforceable Securities Lending Agency Agreement. Securities lent in accordance with the Securities Lending Agency Agreement on a gross basis were as follows:
Securities Lending Agency Agreement
Total gross amount presented on the Statements
of Assets and Liabilities(1)
$2,974,360
Non-cash Collateral(2)
(2,974,360
)
Net Amount
$
(1)
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
(2)
At September 30, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
See Notes to Financial Statements
Page 65

First Trust Cloud Computing ETF (SKYY)
Portfolio of Investments (Continued)
September 30, 2023 
The Fund’s investments in repurchase agreements were all subject to an enforceable Master Repurchase Agreement. Repurchase Agreements on a gross basis were as follows:
Repurchase Agreements
Total gross amount presented on the Statements
of Assets and Liabilities(3)
$2,241,086
Non-cash Collateral(4)
(2,241,086
)
Net Amount
$
(3)
The amount is included in “Investments, at value” on the
Statements of Assets and Liabilities.
(4)
At September 30, 2023, the value of the collateral received
from each seller exceeded the value of the repurchase
agreements.
See Notes to Financial Statements
Page 66

First Trust International Equity Opportunities ETF (FPXI)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 99.7%
Australia — 0.9%
491,869
Lottery (The) Corp.
$1,492,688
Bermuda — 2.4%
50,825
Arch Capital Group Ltd. (b)
4,051,261
Canada — 2.3%
91,177
Brookfield Asset Management
Ltd., Class A
3,038,226
24,971
Open Text Corp.
876,482
 
3,914,708
Cayman Islands — 26.1%
74,943
Alibaba Group Holding Ltd.,
ADR (b)
6,500,556
92,302
KE Holdings, Inc., ADR
1,432,527
78,063
Li Auto, Inc., ADR (b)
2,782,946
162,902
MINISO Group Holding Ltd.,
ADR
4,219,162
59,386
NetEase, Inc., ADR
5,948,102
62,591
New Oriental Education &
Technology Group, Inc.,
ADR (b)
3,664,703
349,354
NU Holdings Ltd., Class A (b)
2,532,817
139,707
PDD Holdings, Inc., ADR (b)
13,701,065
13,184
SharkNinja, Inc. (b) (c)
611,210
38,987
XP, Inc., Class A
898,650
79,718
XPeng, Inc., ADR (b) (c)
1,463,622
 
43,755,360
Denmark — 7.2%
132,888
Novo Nordisk A/S, ADR
12,084,835
Germany — 6.0%
106,087
Daimler Truck Holding AG
3,681,107
67,107
Dr. Ing hc F Porsche AG
(Preference Shares) (d) (e)
6,314,451
 
9,995,558
Indonesia — 1.2%
5,297,521
Amman Mineral Internasional
PT (b)
2,030,916
Ireland — 4.3%
134,325
nVent Electric PLC
7,117,882
Israel — 2.8%
60,497
Global-e Online Ltd. (b)
2,404,151
14,066
Monday.com Ltd. (b)
2,239,588
 
4,643,739
Italy — 0.9%
37,072
Lottomatica Group S.p.A. (b)
345,185
38,997
Stevanato Group S.p.A.
1,158,991
 
1,504,176
Japan — 9.9%
216,400
Renesas Electronics Corp. (b)
3,309,571
12,900
Socionext, Inc.
1,275,843
Shares
Description
Value
 
Japan (Continued)
264,717
SoftBank Corp.
$2,994,540
233,119
Takeda Pharmaceutical Co., Ltd.,
ADR (c)
3,606,351
143,200
TDK Corp.
5,310,589
 
16,496,894
Luxembourg — 5.6%
77,854
Allegro.eu S.A. (b) (d) (e)
574,462
73,662
InPost S.A. (b)
856,670
532,883
Samsonite International
S.A. (b) (d) (e)
1,830,500
40,031
Spotify Technology S.A. (b)
6,190,394
 
9,452,026
Netherlands — 6.3%
50,895
Iveco Group N.V. (b)
476,853
158,959
Technip Energies N.V.
3,961,160
234,713
Universal Music Group N.V.
6,136,758
 
10,574,771
Norway — 0.6%
367,785
Var Energi ASA
1,073,443
Saudi Arabia — 6.5%
23,569
Elm Co.
4,901,764
149,151
Saudi Aramco Base Oil Co.
5,917,601
 
10,819,365
South Korea — 7.4%
27,016
Ecopro BM Co., Ltd.
5,065,250
17,237
LG Energy Solution Ltd. (b)
6,086,728
21,008
SK IE Technology Co.,
Ltd. (b) (d) (e)
1,152,061
 
12,304,039
Sweden — 2.1%
92,079
Nordnet AB publ
1,216,983
114,670
Swedish Orphan Biovitrum
AB (b)
2,344,713
 
3,561,696
Taiwan — 0.8%
588,841
Pegatron Corp.
1,397,290
United Arab Emirates — 2.0%
1,767,906
Emaar Development PJSC
3,369,228
United Kingdom — 4.4%
33,844
Abcam PLC, ADR (b)
765,890
850,305
Haleon PLC
3,536,194
185,817
Rentokil Initial PLC
1,383,425
209,742
Wise PLC, Class A (b)
1,754,504
 
7,440,013
Total Common Stocks
167,079,888
(Cost $152,439,050)
See Notes to Financial Statements
Page 67

First Trust International Equity Opportunities ETF (FPXI)
Portfolio of Investments (Continued)
September 30, 2023 
Shares
Description
Value
MONEY MARKET FUNDS — 0.5%
794,441
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.19% (f) (g)
$794,441
(Cost $794,441)
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 1.4%
$2,337,837
BNP Paribas S.A., 5.20% (f),
dated 09/29/23, due 10/02/23,
with a maturity value of
$2,338,850. Collateralized by
U.S. Treasury Securities,
interest rates of 4.00% to
5.44%, due 07/31/24 to
02/15/26. The value of the
collateral including accrued
interest is $2,384,342. (g)
2,337,837
(Cost $2,337,837)
Total Investments — 101.6%
170,212,166
(Cost $155,571,328)
Net Other Assets and
Liabilities — (1.6)%
(2,721,181
)
Net Assets — 100.0%
$167,490,985
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index. For a
breakdown of the portfolio securities by sector, please see the
Fund Performance Overview.
(b)
Non-income producing security.
(c)
All or a portion of this security is on loan (see Note 2E -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $3,136,461 and the total value of the collateral
held by the Fund is $3,132,278.
(d)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the
“1933 Act”) and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. This
security is not restricted on the foreign exchange where it
trades freely without any additional registration. As such, it
does not require the additional disclosure required of
restricted securities.
(e)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
(f)
Rate shown reflects yield as of September 30, 2023.
(g)
This security serves as collateral for securities on loan.
Abbreviations throughout the Portfolio of Investments:
ADR
American Depositary Receipt
Currency Exposure Diversification
% of Total
Investments
United States Dollar
51.3%
Euro
12.8
Japanese Yen
7.6
South Korean Won
7.2
Saudi Arabia Riyal
6.4
British Pound Sterling
3.9
Swedish Krona
2.1
United Arab Emirates Dirham
2.0
Canadian Dollar
1.8
Indonesia Rupiah
1.2
Hong Kong Dollar
1.1
Australian Dollar
0.9
New Taiwan Dollar
0.8
Norwegian Krone
0.6
Polish Zloty
0.3
Total
100.0%

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$167,079,888
$167,079,888
$
$
Money Market
Funds
794,441
794,441
Repurchase
Agreements
2,337,837
2,337,837
Total Investments
$170,212,166
$167,874,329
$2,337,837
$
*
See Portfolio of Investments for country breakout.
See Notes to Financial Statements
Page 68

First Trust International Equity Opportunities ETF (FPXI)
Portfolio of Investments (Continued)
September 30, 2023 

Offsetting Assets and Liabilities
Offsetting assets and liabilities requires entities to disclose both gross and net information about instruments and transactions eligible for offset, and to disclose instruments and transactions subject to master netting or similar agreements (see Note 2C - Offsetting on the Statements of Assets and Liabilities in the Notes to Financial Statements).
The Fund’s loaned securities were all subject to an enforceable Securities Lending Agency Agreement. Securities lent in accordance with the Securities Lending Agency Agreement on a gross basis were as follows:
Securities Lending Agency Agreement
Total gross amount presented on the Statements
of Assets and Liabilities(1)
$3,136,461
Non-cash Collateral(2)
(3,132,278
)
Net Amount
$4,183
(1)
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
(2)
The collateral requirements are determined at the beginning
of each business day based on the market value of the loaned
securities from the end of the prior day. On September 29,
2023, the last business day of the period, there was sufficient
collateral based on the end of day market value from the prior
business day; however, as a result of market movement from
September 28 to September 29, the value of the related
securities loaned was above the collateral value received. See
Note 2E - Securities Lending in the Notes to Financial
Statements.
The Fund’s investments in repurchase agreements were all subject to an enforceable Master Repurchase Agreement. Repurchase Agreements on a gross basis were as follows:
Repurchase Agreements
Total gross amount presented on the Statements
of Assets and Liabilities(3)
$2,337,837
Non-cash Collateral(4)
(2,337,837
)
Net Amount
$
(3)
The amount is included in “Investments, at value” on the
Statements of Assets and Liabilities.
(4)
At September 30, 2023, the value of the collateral received
from each seller exceeded the value of the repurchase
agreements.
See Notes to Financial Statements
Page 69

First Trust Nasdaq Cybersecurity ETF (CIBR)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 99.9%
Canada — 4.3%
16,751,552
BlackBerry Ltd. (b)
$78,899,810
3,828,901
Open Text Corp.
134,381,528
 
213,281,338
France — 3.0%
1,053,246
Thales S.A.
148,212,764
India — 6.1%
17,742,707
Infosys Ltd., ADR
303,577,717
Israel — 6.5%
1,144,924
Check Point Software
Technologies Ltd. (b)
152,595,471
928,057
CyberArk Software Ltd. (b)
151,987,895
1,162,993
Radware Ltd. (b)
19,677,841
 
324,261,207
Japan — 2.8%
3,624,073
Trend Micro, Inc.
137,454,803
United Kingdom — 1.7%
17,077,622
Darktrace PLC (b)
84,054,572
United States — 75.5%
2,155,507
A10 Networks, Inc.
32,397,270
1,466,319
Akamai Technologies, Inc. (b)
156,221,626
1,359,952
Booz Allen Hamilton Holding
Corp.
148,601,955
333,938
Broadcom, Inc.
277,362,224
5,373,863
Cisco Systems, Inc.
288,898,875
2,369,612
Cloudflare, Inc., Class A (b)
149,380,340
945,189
Crowdstrike Holdings, Inc.,
Class A (b)
158,205,735
941,556
F5, Inc. (b)
151,722,334
5,118,589
Fortinet, Inc. (b)
300,358,803
7,609,641
Gen Digital, Inc.
134,538,453
5,291,734
Juniper Networks, Inc.
147,057,288
1,580,307
Leidos Holdings, Inc.
145,641,093
2,255,837
NetScout Systems, Inc. (b)
63,208,553
1,845,229
Okta, Inc. (b)
150,404,616
1,119,180
OneSpan, Inc. (b)
12,031,185
1,266,706
Palo Alto Networks, Inc. (b)
296,966,555
990,013
Qualys, Inc. (b)
151,026,483
2,039,205
Rapid7, Inc. (b)
93,354,805
1,309,673
Science Applications
International Corp.
138,222,888
8,804,779
SentinelOne, Inc., Class A (b)
148,448,574
1,270,778
Splunk, Inc. (b)
185,851,282
3,396,422
Tenable Holdings, Inc. (b)
152,159,706
Shares
Description
Value
 
United States (Continued)
3,667,523
Varonis Systems, Inc. (b)
$112,006,152
987,473
Zscaler, Inc. (b)
153,640,924
 
3,747,707,719
Total Investments — 99.9%
4,958,550,120
(Cost $4,560,350,800)
Net Other Assets and
Liabilities — 0.1%
6,033,713
Net Assets — 100.0%
$4,964,583,833
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index. For a
breakdown of the portfolio securities by sector, please see the
Fund Performance Overview.
(b)
Non-income producing security.
Abbreviations throughout the Portfolio of Investments:
ADR
American Depositary Receipt
Currency Exposure Diversification
% of Total
Investments
United States Dollar
89.8%
Euro
3.0
Japanese Yen
2.8
Canadian Dollar
2.7
British Pound Sterling
1.7
Total
100.0%

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common
Stocks*
$4,958,550,120
$4,958,550,120
$
$
*
See Portfolio of Investments for country breakout.
See Notes to Financial Statements
Page 70

First Trust IPOX® Europe Equity Opportunities ETF (FPXE)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 99.8%
Austria — 0.2%
1,645
Eurotelesites AG (b)
$7,200
Bahamas — 0.1%
214
OneSpaWorld Holdings Ltd. (b)
2,401
Belgium — 0.9%
2,364
Euronav N.V.
38,390
Bermuda — 3.9%
801
Arch Capital Group Ltd. (b)
63,848
1,775
Conduit Holdings Ltd.
9,973
254
Fidelis Insurance Holdings
Ltd. (b)
3,729
13,067
Hafnia Ltd.
81,297
353
SiriusPoint Ltd. (b)
3,590
 
162,437
Cayman Islands — 1.4%
240
Bitdeer Technologies Group,
Class A (b)
2,314
719
IHS Holding Ltd. (b)
3,990
805
MoonLake
Immunotherapeutics (b)
45,885
317
Patria Investments Ltd., Class A
4,622
 
56,811
Cyprus — 0.0%
1,795
HeadHunter Group PLC,
ADR (b) (c) (d) (e)
0
Denmark — 10.6%
1,185
Better Collective A/S (b)
26,573
2,139
H Lundbeck A/S
11,553
4,436
Novo Nordisk A/S, Class B
404,899
 
443,025
Finland — 2.7%
1,790
Kempower Oyj (b)
91,937
2,186
Puuilo Oyj
18,616
 
110,553
France — 2.6%
205
La Francaise des Jeux
SAEM (f) (g)
6,676
2,627
Verallia S.A. (f) (g)
103,541
 
110,217
Germany — 9.3%
1,768
Daimler Truck Holding AG
61,348
1,957
Dr. Ing hc F Porsche AG
(Preference Shares) (f) (g)
184,144
5,675
E.ON SE
67,199
226
Hensoldt AG
6,676
167
HOCHTIEF AG
16,906
302
Ionos SE (b)
4,579
773
TeamViewer SE (b) (f) (g)
13,043
Shares
Description
Value
 
Germany (Continued)
271
Thyssenkrupp Nucera AG & Co.
KGaa (b)
$5,321
1,074
Traton SE
22,630
86
Vitesco Technologies Group
AG (b)
6,978
 
388,824
Ireland — 9.1%
1,224
Dole PLC
14,174
176
ICON PLC (b)
43,340
6,055
nVent Electric PLC
320,854
 
378,368
Israel — 5.7%
426
Cellebrite DI Ltd. (b)
3,259
3,529
Global-e Online Ltd. (b)
140,243
223
JFrog Ltd. (b)
5,655
513
Monday.com Ltd. (b)
81,680
122
Oddity Tech Ltd., Class A (b)
3,459
380
Riskified Ltd., Class A (b)
1,702
 
235,998
Italy — 4.0%
215
Carel Industries S.p.A. (f) (g)
5,160
362
Eurogroup Laminations
S.p.A. (b)
1,600
2,167
Industrie De Nora S.p.A.
37,298
2,703
Lottomatica Group S.p.A. (b)
25,168
75
Sanlorenzo S.p.A.
2,815
2,844
Stevanato Group S.p.A.
84,524
1,291
Technoprobe S.p.A. (b)
10,169
 
166,734
Jersey — 0.4%
2,554
Yellow Cake PLC (b) (f) (g)
17,450
Luxembourg — 5.0%
2,271
Allegro.eu S.A. (b) (f) (g)
16,757
1,074
InPost S.A. (b)
12,490
1,168
Spotify Technology S.A. (b)
180,620
 
209,867
Netherlands — 14.6%
126
Argenx SE (b)
61,358
534
Ermenegildo Zegna N.V.
7,433
173
Immatics N.V. (b)
2,003
3,711
Iveco Group N.V. (b)
34,770
88
Pharvaris N.V. (b)
1,837
7,954
Prosus N.V.
234,790
6,568
Technip Energies N.V.
163,670
3,912
Universal Music Group N.V.
102,282
 
608,143
Norway — 4.3%
381
DOF Group ASA (b)
1,817
6,148
Hoegh Autoliners ASA
44,256
1,063
Kahoot! ASA (b)
3,455
See Notes to Financial Statements
Page 71

First Trust IPOX® Europe Equity Opportunities ETF (FPXE)
Portfolio of Investments (Continued)
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) (Continued)
Norway (Continued)
6,455
Orkla ASA
$48,265
3,007
Telenor ASA
34,156
16,090
Var Energi ASA
46,961
 
178,910
Poland — 0.0%
147
Grupa Pracuj S.A.
1,918
Portugal — 0.0%
300
Greenvolt-Energias Renovaveis
S.A. (b)
1,692
Sweden — 10.6%
7,546
Alleima AB
39,617
1,896
BioArctic AB (b) (f) (g)
49,111
2,844
BoneSupport Holding
AB (b) (f) (g)
33,137
327
Engcon AB
2,225
2,547
EQT AB
50,565
3,170
Hemnet Group AB
55,969
6,737
Munters Group AB (f) (g)
86,636
5,371
Nordnet AB publ
70,987
2,676
Swedish Orphan Biovitrum
AB (b)
54,718
 
442,965
Switzerland — 5.1%
1,015
Accelleron Industries AG
26,413
1,053
Alcon, Inc.
81,608
1,351
On Holding AG, Class A (b)
37,585
821
SIG Group AG
20,306
1,022
Softwareone Holding AG
20,265
1,789
Sportradar Holding AG,
Class A (b)
17,908
215
Stadler Rail AG
8,399
 
212,484
United Kingdom — 9.1%
494
Abcam PLC, ADR (b)
11,179
8,074
Airtel Africa PLC (f) (g)
12,373
985
ARM Holdings PLC, ADR (b)
52,717
172
Ashtead Technology
Holdings PLC
917
1,067
Baltic Classifieds Group PLC
2,539
516
Bytes Technology Group PLC
3,140
4,519
Darktrace PLC (b)
22,242
3,920
Deliveroo (b) (f) (g)
5,720
8,980
Dowlais Group PLC
11,767
2,140
Dr. Martens PLC
3,690
1,532
Finablr PLC (b) (c) (d) (e) (f)
0
19,840
Haleon PLC
82,509
105
Immunocore Holdings PLC,
ADR (b)
5,450
25,365
M&G PLC
61,061
Shares
Description
Value
 
United Kingdom (Continued)
1,149
Network International
Holdings PLC (b) (f) (g)
$5,470
2,435
Petershill Partners PLC (f) (g)
4,486
5,420
Rentokil Initial PLC
40,353
6,117
Wise PLC, Class A (b)
51,169
 
376,782
United States — 0.1%
424
Soho House & Co., Inc. (b)
2,938
Virgin Islands — 0.1%
55
Establishment Labs Holdings,
Inc. (b)
2,699
Total Investments — 99.8%
4,156,806
(Cost $3,836,844)
Net Other Assets and
Liabilities — 0.2%
7,364
Net Assets — 100.0%
$4,164,170
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index. For a
breakdown of the portfolio securities by sector, please see the
Fund Performance Overview.
(b)
Non-income producing security.
(c)
Pursuant to procedures adopted by the Trust’s Board of
Trustees, this security has been determined to be illiquid by
First Trust Advisors L.P., the Fund’s advisor.
(d)
This security is fair valued by the Advisor’s Pricing
Committee in accordance with procedures approved by the
Trust’s Board of Trustees, and in accordance with provisions
of the Investment Company Act of 1940 and rules
thereunder, as amended. At September 30, 2023, securities
noted as such are valued at $0 or 0.0% of net assets.
(e)
This security’s value was determined using significant
unobservable inputs (see Note2A- Portfolio Valuation in the
Notes to Financial Statements).
(f)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the
“1933 Act”) and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. This
security is not restricted on the foreign exchange where it
trades freely without any additional registration. As such, it
does not require the additional disclosure required of
restricted securities.
(g)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
Abbreviations throughout the Portfolio of Investments:
ADR
American Depositary Receipt
See Notes to Financial Statements
Page 72

First Trust IPOX® Europe Equity Opportunities ETF (FPXE)
Portfolio of Investments (Continued)
September 30, 2023 
Currency Exposure Diversification
% of Total
Investments
Euro
32.4%
United States Dollar
27.7
Swedish Krona
11.3
Danish Krone
10.0
British Pound Sterling
8.1
Norwegian Krone
6.3
Swiss Franc
3.8
Polish Zloty
0.4
Total
100.0%

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks:
Cyprus
$—**
$
$
$—**
United Kingdom
376,782
376,782
—**
Other Country
Categories*
3,780,024
3,780,024
Total Investments
$4,156,806
$4,156,806
$
$—**
*
See Portfolio of Investments for country breakout.
**
Investment is valued at $0.
Level 3 investments are fair valued by the Advisor’s Pricing Committee and are footnoted in the Portfolio of Investments. All Level 3 values are based on unobservable inputs.
See Notes to Financial Statements
Page 73

First Trust Dow Jones International Internet ETF (FDNI)
Portfolio of Investments
September 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 96.8%
Australia — 2.9%
11,629
carsales.com Ltd.
$208,904
1,591
REA Group Ltd.
157,859
10,996
SEEK Ltd.
156,032
5,634
WiseTech Global Ltd.
235,636
 
758,431
Canada — 8.4%
2,624
Descartes Systems Group (The),
Inc. (b)
192,591
36,910
Shopify, Inc., Class A (b)
2,014,730
 
2,207,321
Cayman Islands — 50.9%
240,401
Alibaba Group Holding Ltd. (b)
2,627,820
70,030
Baidu, Inc., Class A (b)
1,192,959
31,414
JD Health International,
Inc. (b) (c) (d)
162,868
75,890
JD.com, Inc., Class A
1,115,438
77,159
Kuaishou Technology (b) (c) (d)
619,266
133,959
Meituan, Class B (b) (c) (d)
1,960,388
57,583
NetEase, Inc.
1,172,845
12,682
PDD Holdings, Inc., ADR (b)
1,243,724
10,619
Sea Ltd., ADR (b)
466,705
67,652
Tencent Holdings Ltd.
2,645,278
8,688
Vipshop Holdings Ltd., ADR (b)
139,095
 
13,346,386
Germany — 1.9%
6,157
Delivery Hero SE (b) (c) (d)
176,863
2,315
Scout24 SE (c) (d)
160,705
6,755
Zalando SE (b) (c) (d)
150,905
 
488,473
Indonesia — 0.6%
30,345,054
GoTo Gojek Tokopedia Tbk
PT (b)
166,893
Ireland — 3.4%
5,452
Flutter Entertainment PLC (b)
892,863
Isle Of Man — 0.9%
19,719
Entain PLC
224,425
Israel — 0.6%
1,754
Wix.com Ltd. (b)
161,017
Japan — 3.5%
82,476
LY Corp.
229,314
13,172
M3, Inc.
239,395
13,982
Nexon Co., Ltd.
250,140
45,573
Rakuten Group, Inc.
186,970
 
905,819
Luxembourg — 2.6%
4,387
Spotify Technology S.A. (b)
678,406
Netherlands — 8.0%
957
Adyen N.V. (b) (c) (d)
714,019
Shares
Description
Value
 
Netherlands (Continued)
46,796
Prosus N.V.
$1,381,344
15,088
Yandex N.V.,
Class A (b) (e) (f) (g)
0
 
2,095,363
New Zealand — 1.2%
4,346
Xero Ltd. (b)
314,159
South Africa — 3.5%
5,781
Naspers Ltd., Class N
923,784
South Korea — 4.2%
9,327
Kakao Corp.
303,781
1,015
Krafton, Inc. (b)
113,279
4,659
NAVER Corp.
695,708
 
1,112,768
United Kingdom — 1.9%
28,416
Auto Trader Group PLC (c) (d)
214,125
12,436
IG Group Holdings PLC
97,640
25,493
Rightmove PLC
174,868
 
486,633
United States — 2.3%
35,263
Coupang, Inc. (b)
599,471
Total Investments — 96.8%
25,362,212
(Cost $38,033,802)
Net Other Assets and
Liabilities — 3.2%
845,587
Net Assets — 100.0%
$26,207,799
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index. For a
breakdown of the portfolio securities by sector, please see the
Fund Performance Overview.
(b)
Non-income producing security.
(c)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the
“1933 Act”) and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. This
security is not restricted on the foreign exchange where it
trades freely without any additional registration. As such, it
does not require the additional disclosure required of
restricted securities.
(d)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
(e)
Pursuant to procedures adopted by the Trust’s Board of
Trustees, this security has been determined to be illiquid by
First Trust Advisors L.P., the Fund’s advisor.
See Notes to Financial Statements
Page 74

First Trust Dow Jones International Internet ETF (FDNI)
Portfolio of Investments (Continued)
September 30, 2023 
(f)
This security is fair valued by the Advisor’s Pricing
Committee in accordance with procedures approved by the
Trust’s Board of Trustees, and in accordance with provisions
of the Investment Company Act of 1940 and rules
thereunder, as amended. At September 30, 2023, securities
noted as such are valued at $0 or 0.0% of net assets.
(g)
This security’s value was determined using significant
unobservable inputs (see Note2A- Portfolio Valuation in the
Notes to Financial Statements).
Abbreviations throughout the Portfolio of Investments:
ADR
American Depositary Receipt
Currency Exposure Diversification
% of Total
Investments
Hong Kong Dollar
45.3%
Euro
13.7
United States Dollar
13.0
Canadian Dollar
8.7
South Korean Won
4.4
Australian Dollar
4.2
South African Rand
3.6
Japanese Yen
3.6
British Pound Sterling
2.8
Indonesia Rupiah
0.7
Total
100.0%

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
9/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks:
Netherlands
$2,095,363
$2,095,363
$
$—**
Other Country
Categories*
23,266,849
23,266,849
Total Investments
$25,362,212
$25,362,212
$
$—**
*
See Portfolio of Investments for country breakout.
**
Investment is valued at $0.
Level 3 investments are fair valued by the Advisor’s Pricing Committee and are footnoted in the Portfolio of Investments. All Level 3 values are based on unobservable inputs.
See Notes to Financial Statements
Page 75

First Trust Exchange-Traded Fund II
Statements of Assets and Liabilities
September 30, 2023 
 
First Trust
STOXX®
European Select
Dividend Index
Fund
(FDD)
First Trust
Alerian
Disruptive
Technology Real
Estate ETF
(DTRE)
First Trust Dow
Jones Global
Select Dividend
Index Fund
(FGD)
ASSETS:
Investments, at value
$176,942,756
$20,550,197
$628,309,870
Cash
3
24,110
Foreign currency, at value
39
6,326
656,188
Receivables:
Reclaims
2,030,787
11,470
1,913,301
Dividends
816,682
74,443
3,804,968
Investment securities sold
60,352
Capital shares sold
1,519
Securities lending income
Prepaid expenses
1,481
1,481
Total Assets
179,791,745
20,702,791
634,711,437
 
LIABILITIES:
Payables:
Licensing fees
79,959
126,385
Investment advisory fees
60,705
10,672
216,967
Audit and tax fees
49,591
52,826
Shareholder reporting fees
21,312
48,649
Deferred foreign capital gains tax
Collateral for securities on loan
Other liabilities
63,496
60,486
214,298
Total Liabilities
275,063
71,158
659,125
NET ASSETS
$179,516,682
$20,631,633
$634,052,312
 
NET ASSETS consist of:
Paid-in capital
$279,497,814
$28,605,641
$927,273,793
Par value
164,533
5,416
306,500
Accumulated distributable earnings (loss)
(100,145,665
)
(7,979,424
)
(293,527,981
)
NET ASSETS
$179,516,682
$20,631,633
$634,052,312
NET ASSET VALUE, per share
$10.91
$38.09
$20.69
Number of shares outstanding (unlimited number of shares authorized,
par value $0.01 per share)
16,453,334
541,608
30,650,002
Investments, at cost
$191,383,368
$20,784,979
$699,606,958
Foreign currency, at cost (proceeds)
$39
$6,438
$657,341
Securities on loan, at value
$
$
$
See Notes to Financial Statements
Page 76

First Trust Global
Wind Energy ETF
(FAN)
First Trust Alerian
U.S. NextGen
Infrastructure ETF
(RBLD)
First Trust NASDAQ®
Clean Edge® Smart
Grid Infrastructure
Index Fund
(GRID)
First Trust Indxx
Global Natural
Resources Income
ETF
(FTRI)
First Trust Indxx
Global Agriculture
ETF
(FTAG)
$209,694,150
$7,584,003
$1,018,030,407
$238,928,477
$12,757,771
12,077
2,044,768
512,610
32,807
5,279
139,126
1,023,682
141
521,296
4,319
939,890
97,605
8,832
198,689
5,922
655,697
1,808,522
9,368
5,435
1,983
2,921
1,481
417
1,019
210,426,330
7,606,738
1,021,812,890
242,373,817
12,808,919
57,468
241,773
55,847
4,213
349,424
138,195
7,600
27,937
30,762
40,940
59,304
152,071
31,793
4,871,324
997,816
9,244,320
84,786
271,018
5,138,302
4,213
1,950,097
9,534,586
39,393
$205,288,028
$7,602,525
$1,019,862,793
$232,839,231
$12,769,526
$353,174,304
$16,377,968
$1,087,297,409
$347,903,473
$37,213,221
141,000
1,500
108,500
183,500
4,899
(148,027,276
)
(8,776,943
)
(67,543,116
)
(115,247,742
)
(24,448,594
)
$205,288,028
$7,602,525
$1,019,862,793
$232,839,231
$12,769,526
$14.56
$50.68
$94.00
$12.69
$26.06
14,100,002
150,002
10,850,002
18,350,002
489,928
$279,752,911
$7,384,601
$1,021,372,878
$256,232,788
$15,940,191
$5,247
$
$138,417
$1,029,128
$141
$4,632,655
$
$940,406
$9,021,978
$
See Notes to Financial Statements
Page 77

First Trust Exchange-Traded Fund II
Statements of Assets and Liabilities (Continued)
September 30, 2023 
 
First Trust
Indxx NextG
ETF
(NXTG)
First Trust
S-Network
Future Vehicles
& Technology
ETF
(CARZ)
First Trust
Cloud
Computing ETF
(SKYY)
ASSETS:
Investments, at value
$386,531,308
$43,072,950
$2,647,182,599
Cash
138,347
10,425
2,190,628
Foreign currency, at value
56,573
22
Receivables:
Reclaims
384,557
32,335
618,323
Dividends
826,873
52,892
413,205
Investment securities sold
170,165
Capital shares sold
Securities lending income
4,192
8,202
2,619
Prepaid expenses
Total Assets
387,941,850
43,346,991
2,650,407,374
 
LIABILITIES:
Payables:
Licensing fees
Investment advisory fees
226,806
25,332
1,359,712
Audit and tax fees
Shareholder reporting fees
Deferred foreign capital gains tax
350,601
Collateral for securities on loan
6,434,351
2,149,433
3,002,650
Other liabilities
Total Liabilities
7,011,758
2,174,765
4,362,362
NET ASSETS
$380,930,092
$41,172,226
$2,646,045,012
 
NET ASSETS consist of:
Paid-in capital
$425,628,776
$60,826,818
$4,284,925,075
Par value
56,000
8,000
348,500
Accumulated distributable earnings (loss)
(44,754,684
)
(19,662,592
)
(1,639,228,563
)
NET ASSETS
$380,930,092
$41,172,226
$2,646,045,012
NET ASSET VALUE, per share
$68.02
$51.47
$75.93
Number of shares outstanding (unlimited number of shares authorized,
par value $0.01 per share)
5,600,002
800,002
34,850,002
Investments, at cost
$414,702,827
$46,735,432
$2,727,574,774
Foreign currency, at cost (proceeds)
$56,808
$22
$
Securities on loan, at value
$6,231,889
$2,077,389
$2,974,360
See Notes to Financial Statements
Page 78

First Trust
International
Equity
Opportunities
ETF
(FPXI)
First Trust
Nasdaq
Cybersecurity
ETF
(CIBR)
First Trust
IPOX® Europe
Equity
Opportunities
ETF
(FPXE)
First Trust Dow
Jones
International
Internet ETF
(FDNI)
$170,212,166
$4,958,550,120
$4,156,806
$25,362,212
209,825
8,338,583
626
13,801
15,963
1
143,685
181,461
6,545
139,931
2,769
12,812
833,503
33
1,516
170,723,086
4,967,070,197
4,166,747
26,222,328
99,823
2,486,364
2,577
14,529
3,132,278
3,232,101
2,486,364
2,577
14,529
$167,490,985
$4,964,583,833
$4,164,170
$26,207,799
$515,746,826
$5,303,134,957
$7,851,515
$64,696,682
43,500
1,092,500
2,000
12,500
(348,299,341
)
(339,643,624
)
(3,689,345
)
(38,501,383
)
$167,490,985
$4,964,583,833
$4,164,170
$26,207,799
$38.50
$45.44
$20.82
$20.97
4,350,002
109,250,002
200,002
1,250,002
$155,571,328
$4,560,350,800
$3,836,844
$38,033,802
$15,898
$
$1
$
$3,136,461
$
$
$
See Notes to Financial Statements
Page 79

First Trust Exchange-Traded Fund II
Statements of Operations
For the Year Ended September 30, 2023 
 
First Trust
STOXX®
European Select
Dividend Index
Fund
(FDD)
First Trust
Alerian
Disruptive
Technology Real
Estate ETF
(DTRE)
First Trust Dow
Jones Global
Select Dividend
Index Fund
(FGD)
INVESTMENT INCOME:
Dividends
$15,429,416
$815,309
$52,206,282
Securities lending income (net of fees)
Foreign withholding tax
(1,822,769
)
(20,785
)
(5,688,332
)
Total investment income
13,606,647
794,524
46,517,950
 
EXPENSES:
Investment advisory fees
734,957
148,364
(a)
2,530,568
Licensing fees
110,244
379,585
Accounting and administration fees
93,414
319,058
Shareholder reporting fees
45,196
131,885
Audit and tax fees
41,642
46,833
Custodian fees
20,960
87,766
Transfer agent fees
9,187
31,632
Listing fees
7,812
7,812
Trustees’ fees and expenses
7,298
7,596
Legal fees
5,810
20,757
Registration and filing fees
107
Other expenses
4,647
9,073
Total expenses
1,081,167
148,364
3,572,672
Less fees waived and expenses reimbursed by the investment advisor
Net expenses
1,081,167
148,364
3,572,672
NET INVESTMENT INCOME (LOSS)
12,525,480
646,160
42,945,278
 
NET REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments
(15,874,728
)
18,588
(42,686,223
)
In-kind redemptions
(2,469,772
)
601,663
1,508,810
Foreign currency transactions
(97,884
)
(10,823
)
(783,875
)
Foreign capital gains tax
Net realized gain (loss)
(18,442,384
)
609,428
(41,961,288
)
Net change in unrealized appreciation (depreciation) on:
Investments
41,255,472
(21,780
)
78,895,796
Foreign currency translation
153,579
(722
)
242,878
Deferred foreign capital gains tax
Net change in unrealized appreciation (depreciation)
41,409,051
(22,502
)
79,138,674
NET REALIZED AND UNREALIZED GAIN (LOSS)
22,966,667
586,926
37,177,386
NET INCREASE (DECREASE) IN NET ASSETS RESULTING
FROM OPERATIONS
$35,492,147
$1,233,086
$80,122,664
(a)
Fund is subject to a unitary fee (see Note 3 in the Notes to Financial Statements).
See Notes to Financial Statements
Page 80

First Trust Global
Wind Energy ETF
(FAN)
First Trust Alerian
U.S. NextGen
Infrastructure ETF
(RBLD)
First Trust NASDAQ®
Clean Edge® Smart
Grid Infrastructure
Index Fund
(GRID)
First Trust Indxx
Global Natural
Resources Income
ETF
(FTRI)
First Trust Indxx
Global Agriculture
ETF
(FTAG)
$6,582,058
$150,370
$16,057,530
$18,361,801
$730,651
94,793
390
70,444
32,276
(720,508
)
(1,022,671
)
(1,010,054
)
(69,926
)
5,956,343
150,760
15,105,303
17,384,023
660,725
1,062,742
49,422
(a)
3,163,012
1,834,556
(a)
137,757
(a)
265,685
711,652
134,790
395,074
86,183
159,059
59,215
35,703
36,656
(5,291
)
13,284
38,971
8,442
6,002
7,367
7,672
9,010
22,417
86
4,155
9,572
1,687,529
49,422
4,543,929
1,834,556
137,757
(93,417
)
1,594,112
49,422
4,543,929
1,834,556
137,757
4,362,231
101,338
10,561,374
15,549,467
522,968
(7,718,268
)
9,717
(14,507,142
)
(26,340,255
)
(1,002,598
)
5,634,166
(253,749
)
28,320,948
4,659,455
(289,304
)
(41,458
)
(217
)
(209,329
)
(127,885
)
(2,813
)
(47,523
)
(20,409
)
(2,125,560
)
(244,249
)
13,604,477
(21,856,208
)
(1,315,124
)
(2,250,122
)
1,307,407
84,424,019
22,018,416
1,699,938
45,309
614
55,723
(32
)
(2,326
)
(139,990
)
12,667
(2,204,813
)
1,308,021
84,479,742
21,878,394
1,710,279
(4,330,373
)
1,063,772
98,084,219
22,186
395,155
$31,858
$1,165,110
$108,645,593
$15,571,653
$918,123
See Notes to Financial Statements
Page 81

First Trust Exchange-Traded Fund II
Statements of Operations (Continued)
For the Year Ended September 30, 2023 
 
First Trust
Indxx NextG
ETF
(NXTG)
First Trust
S-Network
Future Vehicles
& Technology
ETF
(CARZ)
First Trust
Cloud
Computing ETF
(SKYY)
INVESTMENT INCOME:
Dividends
$12,600,644
$718,016
$14,567,953
Securities lending income (net of fees)
43,619
247,436
116,779
Foreign withholding tax
(1,293,204
)
(57,075
)
(163,344
)
Total investment income
11,351,059
908,377
14,521,388
 
EXPENSES:
Investment advisory fees
3,107,696
(a)
301,560
(a)
16,416,717
(a)
Licensing fees
Accounting and administration fees
Shareholder reporting fees
Audit and tax fees
Custodian fees
Transfer agent fees
Listing fees
Trustees’ fees and expenses
Legal fees
Registration and filing fees
Other expenses
Total expenses
3,107,696
301,560
16,416,717
Less fees waived and expenses reimbursed by the investment advisor
Net expenses
3,107,696
301,560
16,416,717
NET INVESTMENT INCOME (LOSS)
8,243,363
606,817
(1,895,329
)
 
NET REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments
(12,825,361
)
(3,573,085
)
(720,051,353
)
In-kind redemptions
18,731,126
1,596,753
198,530,743
Foreign currency transactions
(194,910
)
(18,350
)
Foreign capital gains tax
(166,819
)
Net realized gain (loss)
5,544,036
(1,994,682
)
(521,520,610
)
Net change in unrealized appreciation (depreciation) on:
Investments
88,707,952
11,556,359
1,145,964,050
Foreign currency translation
38,287
1,513
Deferred foreign capital gains tax
(349,596
)
Net change in unrealized appreciation (depreciation)
88,396,643
11,557,872
1,145,964,050
NET REALIZED AND UNREALIZED GAIN (LOSS)
93,940,679
9,563,190
624,443,440
NET INCREASE (DECREASE) IN NET ASSETS RESULTING
FROM OPERATIONS
$102,184,042
$10,170,007
$622,548,111
(a)
Fund is subject to a unitary fee (see Note 3 in the Notes to Financial Statements).
See Notes to Financial Statements
Page 82

First Trust
International
Equity
Opportunities
ETF
(FPXI)
First Trust
Nasdaq
Cybersecurity
ETF
(CIBR)
First Trust
IPOX® Europe
Equity
Opportunities
ETF
(FPXE)
First Trust Dow
Jones
International
Internet ETF
(FDNI)
$3,167,092
$47,788,494
$127,393
$313,090
26,542
1,097,021
836
(261,956
)
(1,855,827
)
(11,423
)
(3,489
)
2,931,678
47,029,688
116,806
309,601
1,669,660
(a)
28,557,421
(a)
38,511
(a)
197,609
(a)
1,669,660
28,557,421
38,511
197,609
1,669,660
28,557,421
38,511
197,609
1,262,018
18,472,267
78,295
111,992
(32,709,988
)
(245,616,561
)
(386,563
)
(16,217,973
)
7,704,700
147,351,647
427,636
(424,354
)
(128,069
)
32,782
1,045
(4,564
)
(25,133,357
)
(98,232,132
)
42,118
(16,646,891
)
51,580,391
872,782,513
1,146,049
18,912,910
35,373
15,076
378
126
51,615,764
872,797,589
1,146,427
18,913,036
26,482,407
774,565,457
1,188,545
2,266,145
$27,744,425
$793,037,724
$1,266,840
$2,378,137
See Notes to Financial Statements
Page 83

First Trust Exchange-Traded Fund II
Statements of Changes in Net Assets
 
First Trust STOXX® European
Select Dividend Index Fund
(FDD)
First Trust Alerian Disruptive
Technology Real Estate ETF
(DTRE)
 
Year
Ended
9/30/2023
Year
Ended
9/30/2022
Year
Ended
9/30/2023
Year
Ended
9/30/2022
OPERATIONS:
Net investment income (loss)
$12,525,480
$13,604,823
$646,160
$694,047
Net realized gain (loss)
(18,442,384
)
(6,159,050
)
609,428
(4,691,501
)
Net change in unrealized appreciation (depreciation)
41,409,051
(79,745,328
)
(22,502
)
(3,423,023
)
Net increase (decrease) in net assets resulting from
operations
35,492,147
(72,299,555
)
1,233,086
(7,420,477
)
 
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Investment operations
(11,339,350
)
(13,077,255
)
(637,446
)
(1,182,167
)
 
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold
18,364,170
14,995,535
2,663,290
Cost of shares redeemed
(24,050,718
)
(54,599,138
)
(3,993,914
)
(4,687,732
)
Net increase (decrease) in net assets resulting from
shareholder transactions
(5,686,548
)
(39,603,603
)
(3,993,914
)
(2,024,442
)
Total increase (decrease) in net assets
18,466,249
(124,980,413
)
(3,398,274
)
(10,627,086
)
 
NET ASSETS:
Beginning of period
161,050,433
286,030,846
24,029,907
34,656,993
End of period
$179,516,682
$161,050,433
$20,631,633
$24,029,907
 
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period
17,153,334
20,603,334
641,608
691,608
Shares sold
1,550,000
1,050,000
50,000
Shares redeemed
(2,250,000
)
(4,500,000
)
(100,000
)
(100,000
)
Shares outstanding, end of period
16,453,334
17,153,334
541,608
641,608
See Notes to Financial Statements
Page 84

First Trust Dow Jones Global Select
Dividend Index Fund (FGD)
First Trust Global Wind Energy ETF
(FAN)
First Trust Alerian U.S. NextGen
Infrastructure ETF (RBLD)
Year
Ended
9/30/2023
Year
Ended
9/30/2022
Year
Ended
9/30/2023
Year
Ended
9/30/2022
Year
Ended
9/30/2023
Year
Ended
9/30/2022
$42,945,278
$32,771,228
$4,362,231
$4,120,598
$101,338
$168,848
(41,961,288
)
7,477,426
(2,125,560
)
1,428,826
(244,249
)
(25,295
)
79,138,674
(181,567,622
)
(2,204,813
)
(98,719,034
)
1,308,021
(2,108,137
)
80,122,664
(141,318,968
)
31,858
(93,169,610
)
1,165,110
(1,964,584
)
(39,597,608
)
(33,007,963
)
(4,348,626
)
(4,523,536
)
(97,141
)
(174,012
)
173,130,265
183,686,839
18,629,681
29,990,153
2,488,028
(75,179,466
)
(18,237,594
)
(52,955,982
)
(74,286,166
)
(2,150,019
)
(2,454,490
)
97,950,799
165,449,245
(34,326,301
)
(44,296,013
)
(2,150,019
)
33,538
138,475,855
(8,877,686
)
(38,643,069
)
(141,989,159
)
(1,082,050
)
(2,105,058
)
495,576,457
504,454,143
243,931,097
385,920,256
8,684,575
10,789,633
$634,052,312
$495,576,457
$205,288,028
$243,931,097
$7,602,525
$8,684,575
26,700,002
20,200,002
16,100,002
18,450,002
200,002
200,002
7,600,000
7,250,000
1,050,000
1,500,000
50,000
(3,650,000
)
(750,000
)
(3,050,000
)
(3,850,000
)
(50,000
)
(50,000
)
30,650,002
26,700,002
14,100,002
16,100,002
150,002
200,002
See Notes to Financial Statements
Page 85

First Trust Exchange-Traded Fund II
Statements of Changes in Net Assets (Continued)
 
First Trust NASDAQ® Clean
Edge® Smart Grid Infrastructure
Index Fund (GRID)
First Trust Indxx Global Natural
Resources Income ETF (FTRI)
 
Year
Ended
9/30/2023
Year
Ended
9/30/2022
Year
Ended
9/30/2023
Year
Ended
9/30/2022
OPERATIONS:
Net investment income (loss)
$10,561,374
$6,836,821
$15,549,467
$14,595,715
Net realized gain (loss)
13,604,477
(14,555,581
)
(21,856,208
)
(13,746,646
)
Net change in unrealized appreciation (depreciation)
84,479,742
(138,492,254
)
21,878,394
(36,933,878
)
Net increase (decrease) in net assets resulting from
operations
108,645,593
(146,211,014
)
15,571,653
(36,084,809
)
 
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Investment operations
(10,318,462
)
(6,402,097
)
(15,107,267
)
(14,042,378
)
 
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold
503,705,236
287,294,194
97,759,506
226,862,215
Cost of shares redeemed
(120,599,580
)
(146,513,572
)
(65,132,103
)
(13,299,327
)
Net increase (decrease) in net assets resulting from
shareholder transactions
383,105,656
140,780,622
32,627,403
213,562,888
Total increase (decrease) in net assets
481,432,787
(11,832,489
)
33,091,789
163,435,701
 
NET ASSETS:
Beginning of period
538,430,006
550,262,495
199,747,442
36,311,741
End of period
$1,019,862,793
$538,430,006
$232,839,231
$199,747,442
 
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period
7,150,002
5,950,002
16,350,002
2,800,002
Shares sold
5,000,000
2,900,000
7,050,000
14,550,000
Shares redeemed
(1,300,000
)
(1,700,000
)
(5,050,000
)
(1,000,000
)
Shares outstanding, end of period
10,850,002
7,150,002
18,350,002
16,350,002
See Notes to Financial Statements
Page 86

First Trust Indxx Global Agriculture
ETF (FTAG)
First Trust Indxx NextG ETF (NXTG)
First Trust S-Network Future Vehicles
& Technology ETF (CARZ)
Year
Ended
9/30/2023
Year
Ended
9/30/2022
Year
Ended
9/30/2023
Year
Ended
9/30/2022
Year
Ended
9/30/2023
Year
Ended
9/30/2022
$522,968
$380,604
$8,243,363
$18,081,910
$606,817
$1,669,415
(1,315,124
)
926,105
5,544,036
97,093,376
(1,994,682
)
(2,822,496
)
1,710,279
(5,684,565
)
88,396,643
(292,040,782
)
11,557,872
(18,396,263
)
918,123
(4,377,856
)
102,184,042
(176,865,496
)
10,170,007
(19,549,344
)
(569,279
)
(278,287
)
(6,776,282
)
(25,616,645
)
(653,962
)
(1,776,897
)
32,602,633
25,784,327
72,484,061
11,459,812
38,858,818
(9,949,092
)
(11,185,760
)
(211,317,883
)
(480,555,665
)
(20,218,555
)
(41,107,013
)
(9,949,092
)
21,416,873
(185,533,556
)
(408,071,604
)
(8,758,743
)
(2,248,195
)
(9,600,248
)
16,760,730
(90,125,796
)
(610,553,745
)
757,302
(23,574,436
)
22,369,774
5,609,044
471,055,888
1,081,609,633
40,414,924
63,989,360
$12,769,526
$22,369,774
$380,930,092
$471,055,888
$41,172,226
$40,414,924
839,928
189,928
8,450,002
14,150,002
1,000,002
1,100,002
1,000,000
350,000
900,000
200,000
650,000
(350,000
)
(350,000
)
(3,200,000
)
(6,600,000
)
(400,000
)
(750,000
)
489,928
839,928
5,600,002
8,450,002
800,002
1,000,002
See Notes to Financial Statements
Page 87

First Trust Exchange-Traded Fund II
Statements of Changes in Net Assets (Continued)
 
First Trust Cloud Computing
ETF (SKYY)
First Trust International Equity
Opportunities ETF (FPXI)
 
Year
Ended
9/30/2023
Year
Ended
9/30/2022
Year
Ended
9/30/2023
Year
Ended
9/30/2022
OPERATIONS:
Net investment income (loss)
$(1,895,329
)
$46,431,490
$1,262,018
$4,766,765
Net realized gain (loss)
(521,520,610
)
(276,788,774
)
(25,133,357
)
(231,818,512
)
Net change in unrealized appreciation (depreciation)
1,145,964,050
(2,264,731,256
)
51,615,764
(133,525,530
)
Net increase (decrease) in net assets resulting from
operations
622,548,111
(2,495,088,540
)
27,744,425
(360,577,277
)
 
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Investment operations
(47,254,977
)
(1,774,581
)
(4,260,436
)
 
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold
141,128,878
946,949,156
35,411,414
Cost of shares redeemed
(1,072,205,046
)
(1,689,481,713
)
(179,900,143
)
(512,411,220
)
Net increase (decrease) in net assets resulting from
shareholder transactions
(931,076,168
)
(742,532,557
)
(179,900,143
)
(476,999,806
)
Total increase (decrease) in net assets
(308,528,057
)
(3,284,876,074
)
(153,930,299
)
(841,837,519
)
 
NET ASSETS:
Beginning of period
2,954,573,069
6,239,449,143
321,421,284
1,163,258,803
End of period
$2,646,045,012
$2,954,573,069
$167,490,985
$321,421,284
 
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period
49,000,002
59,200,002
9,000,002
18,150,002
Shares sold
2,150,000
10,000,000
700,000
Shares redeemed
(16,300,000
)
(20,200,000
)
(4,650,000
)
(9,850,000
)
Shares outstanding, end of period
34,850,002
49,000,002
4,350,002
9,000,002
See Notes to Financial Statements
Page 88

First Trust Nasdaq Cybersecurity ETF
(CIBR)
First Trust IPOX® Europe Equity
Opportunities ETF (FPXE)
First Trust Dow Jones International
Internet ETF (FDNI)
Year
Ended
9/30/2023
Year
Ended
9/30/2022
Year
Ended
9/30/2023
Year
Ended
9/30/2022
Year
Ended
9/30/2023
Year
Ended
9/30/2022
$18,472,267
$34,366,684
$78,295
$111,291
$111,992
$1,565
(98,232,132
)
(11,789,081
)
42,118
(3,117,820
)
(16,646,891
)
(11,260,348
)
872,797,589
(1,344,839,444
)
1,146,427
(1,554,377
)
18,913,036
(25,653,568
)
793,037,724
(1,322,261,841
)
1,266,840
(4,560,906
)
2,378,137
(36,912,351
)
(18,090,451
)
(33,554,011
)
(74,090
)
(115,891
)
(121,095
)
126,745,936
2,858,661,276
1,384,468
5,152,332
3,599,371
(668,192,009
)
(1,542,060,355
)
(2,159,634
)
(2,268,546
)
(10,433,740
)
(41,357,597
)
(541,446,073
)
1,316,600,921
(2,159,634
)
(884,078
)
(5,281,408
)
(37,758,226
)
233,501,200
(39,214,931
)
(966,884
)
(5,560,875
)
(3,024,366
)
(74,670,577
)
4,731,082,633
4,770,297,564
5,131,054
10,691,929
29,232,165
103,902,742
$4,964,583,833
$4,731,082,633
$4,164,170
$5,131,054
$26,207,799
$29,232,165
122,700,002
97,750,002
300,002
350,002
1,500,002
2,600,002
2,900,000
58,400,000
50,000
200,000
150,000
(16,350,000
)
(33,450,000
)
(100,000
)
(100,000
)
(450,000
)
(1,250,000
)
109,250,002
122,700,002
200,002
300,002
1,250,002
1,500,002
See Notes to Financial Statements
Page 89

First Trust Exchange-Traded Fund II
Financial Highlights
For a share outstanding throughout each period
First Trust STOXX® European Select Dividend Index Fund (FDD)
 
Year EndedSeptember 30,
 
2023
2022
2021
2020
2019
Net asset value, beginning of period
$9.39
$13.88
$10.27
$12.75
$13.12
Income from investment operations:
Net investment income (loss)
0.78
 (a)
0.73
0.52
0.52
0.66
Net realized and unrealized gain (loss)
1.44
(4.52
)
3.61
(2.50
)
(0.37
)
Total from investment operations
2.22
(3.79
)
4.13
(1.98
)
0.29
Distributions paid to shareholders from:
Net investment income
(0.70
)
(0.70
)
(0.52
)
(0.50
)
(0.66
)
Net asset value, end of period
$10.91
$9.39
$13.88
$10.27
$12.75
Total return (b)
23.52
%
(27.88
)%
40.19
%
(15.64
)%
2.35
%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$179,517
$161,050
$286,031
$180,227
$293,918
Ratio of total expenses to average net assets
0.59
%
0.58
%
0.58
%
0.57
%
0.58
%
Ratio of net investment income (loss) to average net assets
6.82
%
5.36
%
4.06
%
3.84
%
4.84
%
Portfolio turnover rate (c)
49
%
57
%
58
%
98
%
24
%
(a)
Based on average shares outstanding.
(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)
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.
See Notes to Financial Statements
Page 90

First Trust Exchange-Traded Fund II
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Alerian Disruptive Technology Real Estate ETF (DTRE)
 
Year EndedSeptember 30,
 
2023
2022
2021
2020
2019
Net asset value, beginning of period
$37.45
$50.11
$38.82
$49.44
$45.07
Income from investment operations:
Net investment income (loss)
1.05
 (a)
0.89
0.89
0.62
1.25
Net realized and unrealized gain (loss)
0.63
(11.90
)
10.74
(9.27
)
4.55
Total from investment operations
1.68
(11.01
)
11.63
(8.65
)
5.80
Distributions paid to shareholders from:
Net investment income
(1.04
)
(1.65
)
(0.34
)
(1.97
)
(1.43
)
Net asset value, end of period
$38.09
$37.45
$50.11
$38.82
$49.44
Total return (b)
4.42
%
(22.72
)%
29.95
%
(18.12
)%
13.19
%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$20,632
$24,030
$34,657
$32,671
$56,436
Ratio of total expenses to average net assets
0.60
%
0.96
%
0.92
%
0.85
%
0.89
%
Ratio of net expenses to average net assets
0.60
%
0.60
%
0.60
%
0.60
%
0.60
%
Ratio of net investment income (loss) to average net assets
2.61
%
2.08
%
2.21
%
2.52
%
2.61
%
Portfolio turnover rate (c)
39
%
70
%  (d)
11
%
7
%
7
%
(a)
Based on average shares outstanding.
(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. The total returns would have been lower if certain
fees had not been waived and expenses reimbursed by the investment advisor.
(c)
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.
(d)
The variation in the portfolio turnover rate is due to the change in the Fund’s underlying index effective September 30, 2022, which resulted in a
complete rebalance of the Fund’s portfolio.
See Notes to Financial Statements
Page 91

First Trust Exchange-Traded Fund II
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Dow Jones Global Select Dividend Index Fund (FGD)
 
Year EndedSeptember 30,
 
2023
2022
2021
2020
2019
Net asset value, beginning of period
$18.56
$24.97
$17.85
$22.90
$25.16
Income from investment operations:
Net investment income (loss)
1.48
 (a)
1.33
1.22
1.30
1.39
Net realized and unrealized gain (loss)
2.00
(6.38
)
7.10
(5.04
)
(2.24
)
Total from investment operations
3.48
(5.05
)
8.32
(3.74
)
(0.85
)
Distributions paid to shareholders from:
Net investment income
(1.35
)
(1.36
)
(1.20
)
(1.31
)
(1.41
)
Net asset value, end of period
$20.69
$18.56
$24.97
$17.85
$22.90
Total return (b)
18.65
%
(20.98
)%
46.94
%
(16.33
)%
(3.21
)%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$634,052
$495,576
$504,454
$344,489
$532,532
Ratio of total expenses to average net assets
0.56
%
0.56
%
0.57
%
0.57
%
0.59
%
Ratio of net investment income (loss) to average net assets
6.79
%
5.74
%
5.11
%
6.16
%
6.20
%
Portfolio turnover rate (c)
40
%
35
%
38
%
67
%
31
%
(a)
Based on average shares outstanding.
(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)
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.
See Notes to Financial Statements
Page 92

First Trust Exchange-Traded Fund II
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Global Wind Energy ETF (FAN)
 
Year EndedSeptember 30,
 
2023
2022
2021
2020
2019
Net asset value, beginning of period
$15.15
$20.92
$17.45
$13.13
$12.50
Income from investment operations:
Net investment income (loss)
0.28
 (a)
0.25
0.28
0.26
0.30
Net realized and unrealized gain (loss)
(0.58
)
(5.75
)
3.52
4.33
0.64
Total from investment operations
(0.30
)
(5.50
)
3.80
4.59
0.94
Distributions paid to shareholders from:
Net investment income
(0.29
)
(0.27
)
(0.33
)
(0.27
)
(0.31
)
Net asset value, end of period
$14.56
$15.15
$20.92
$17.45
$13.13
Total return (b)
(2.21
)%
(26.43
)%
21.76
%
35.42
%
7.58
%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$205,288
$243,931
$385,920
$205,075
$75,502
Ratio of total expenses to average net assets
0.64
%
0.61
%
0.62
%
0.66
%
0.71
%
Ratio of net expenses to average net assets
0.60
%
0.60
%
0.60
%
0.60
%
0.60
%
Ratio of net investment income (loss) to average net assets
1.64
%
1.28
%
1.34
%
1.86
%
2.32
%
Portfolio turnover rate (c)
25
%
21
%
31
%
42
%
30
%
(a)
Based on average shares outstanding.
(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. The total returns would have been lower if certain
fees had not been waived and expenses reimbursed by the investment advisor.
(c)
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.
See Notes to Financial Statements
Page 93

First Trust Exchange-Traded Fund II
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD)
 
Year EndedSeptember 30,
 
2023
2022
2021
2020
2019
Net asset value, beginning of period
$43.42
$53.95
$42.07
$47.05
$56.78
Income from investment operations:
Net investment income (loss)
0.67
 (a)
1.01
0.87
1.28
0.87
Net realized and unrealized gain (loss)
7.24
(10.50
)
11.79
(4.93
)
(9.71
)
Total from investment operations
7.91
(9.49
)
12.66
(3.65
)
(8.84
)
Distributions paid to shareholders from:
Net investment income
(0.65
)
(1.04
)
(0.78
)
(1.33
)
(0.89
)
Net asset value, end of period
$50.68
$43.42
$53.95
$42.07
$47.05
Total return (b)
18.23
%
(17.80
)%
30.19
%
(7.52
)%
(15.64
)%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$7,603
$8,685
$10,790
$6,310
$9,409
Ratio of total expenses to average net assets
0.65
%
0.86
%
1.42
%
1.43
%
1.21
%
Ratio of net expenses to average net assets
0.65
%
0.69
%
0.70
%
0.70
%
0.70
%
Ratio of net investment income (loss) to average net assets
1.33
%
1.68
%
1.81
%
2.68
%
1.64
%
Portfolio turnover rate (c)
32
%
92
%  (d)
18
%
20
%
14
%
(a)
Based on average shares outstanding.
(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. The total returns would have been lower if certain
fees had not been waived and expenses reimbursed by the investment advisor.
(c)
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.
(d)
The variation in the portfolio turnover rate is due to the change in the Fund’s underlying index effective July 29, 2022, which resulted in a
complete rebalance of the Fund’s portfolio.
See Notes to Financial Statements
Page 94

First Trust Exchange-Traded Fund II
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund (GRID)
 
Year EndedSeptember 30,
 
2023
2022
2021
2020
2019
Net asset value, beginning of period
$75.30
$92.48
$62.87
$49.51
$47.62
Income from investment operations:
Net investment income (loss)
1.27
 (a)
0.93
0.64
0.58
0.67
Net realized and unrealized gain (loss)
18.64
(17.24
)
29.73
13.27
1.84
Total from investment operations
19.91
(16.31
)
30.37
13.85
2.51
Distributions paid to shareholders from:
Net investment income
(1.21
)
(0.87
)
(0.76
)
(0.49
)
(0.62
)
Net asset value, end of period
$94.00
$75.30
$92.48
$62.87
$49.51
Total return (b)
26.39
%
(17.70
)%
48.35
%
28.10
%
5.32
%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$1,019,863
$538,430
$550,262
$56,579
$27,232
Ratio of total expenses to average net assets
0.57
%
0.58
%
0.63
%
0.75
%
0.82
%
Ratio of net expenses to average net assets
0.57
%
0.58
%
0.63
%
0.70
%
0.70
%
Ratio of net investment income (loss) to average net assets
1.34
%
1.02
%
1.11
%
1.30
%
1.40
%
Portfolio turnover rate (c)
23
%
33
%
20
%
53
%
31
%
(a)
Based on average shares outstanding.
(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. The total returns would have been lower if certain
fees had not been waived and expenses reimbursed by the investment advisor.
(c)
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.
See Notes to Financial Statements
Page 95

First Trust Exchange-Traded Fund II
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Indxx Global Natural Resources Income ETF (FTRI)
 
Year EndedSeptember 30,
 
2023
2022
2021
2020
2019
Net asset value, beginning of period
$12.22
$12.97
$9.57
$11.47
$12.73
Income from investment operations:
Net investment income (loss)
0.79
 (a)
1.17
0.80
0.53
0.72
Net realized and unrealized gain (loss)
0.46
(0.67
)
3.29
 (b)
(1.86
)
(1.28
)
Total from investment operations
1.25
0.50
4.09
(1.33
)
(0.56
)
Distributions paid to shareholders from:
Net investment income
(0.78
)
(1.25
)
(0.69
)
(0.57
)
(0.70
)
Net asset value, end of period
$12.69
$12.22
$12.97
$9.57
$11.47
Total return (c)
10.17
%
3.27
%
42.87
%
(11.80
)%
(4.42
)%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$232,839
$199,747
$36,312
$5,740
$7,452
Ratio of total expenses to average net assets
0.70
%
0.70
%
0.70
%
0.70
%
0.70
%
Ratio of net investment income (loss) to average net assets
5.93
%
11.85
%
9.06
%
4.94
%
5.95
%
Portfolio turnover rate (d)
82
%
69
%
99
%
66
%
84
%
(a)
Based on average shares outstanding.
(b)
The per share amount does not correlate with the aggregate realized and unrealized gain (loss) due to the timing of the Fund share sales and
repurchases in relation to market value fluctuation of the underlying investments.
(c)
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.
(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.
See Notes to Financial Statements
Page 96

First Trust Exchange-Traded Fund II
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Indxx Global Agriculture ETF (FTAG)
 
Year EndedSeptember 30,
 
2023
2022
2021
2020
2019
Net asset value, beginning of period
$26.63
$29.53
$21.73
$22.87
$26.21
Income from investment operations:
Net investment income (loss)
0.76
 (a)
0.56
0.45
0.45
0.51
Net realized and unrealized gain (loss)
(0.37
)  (b)
(2.97
)
7.78
(1.20
)
(3.17
)
Total from investment operations
0.39
(2.41
)
8.23
(0.75
)
(2.66
)
Distributions paid to shareholders from:
Net investment income
(0.96
)
(0.49
)
(0.43
)
(0.39
)
(0.64
)
Return of capital
(0.04
)
Total distributions
(0.96
)
(0.49
)
(0.43
)
(0.39
)
(0.68
)
Net asset value, end of period
$26.06
$26.63
$29.53
$21.73
$22.87
Total return (c)
1.35
%
(8.28
)%
37.94
%
(3.19
)%
(10.16
)%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$12,770
$22,370
$5,609
$3,040
$3,200
Ratio of total expenses to average net assets
0.70
%
0.70
%
0.70
%
0.70
%
0.70
%
Ratio of net investment income (loss) to average net assets
2.66
%
2.50
%
1.84
%
2.16
%
1.93
%
Portfolio turnover rate (d)
14
%
26
%
12
%
17
%
20
%
(a)
Based on average shares outstanding.
(b)
The per share amount does not correlate with the aggregate realized and unrealized gain (loss) due to the timing of the Fund share sales and
repurchases in relation to market value fluctuation of the underlying investments.
(c)
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.
(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.
See Notes to Financial Statements
Page 97

First Trust Exchange-Traded Fund II
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Indxx NextG ETF (NXTG)
 
Year EndedSeptember 30,
 
2023
2022
2021
2020
2019
Net asset value, beginning of period
$55.75
$76.44
$59.05
$50.26
$49.63
Income from investment operations:
Net investment income (loss)
1.23
 (a)
1.72
0.95
0.69
0.37
Net realized and unrealized gain (loss)
12.14
(20.13
)
17.10
8.79
0.50
Total from investment operations
13.37
(18.41
)
18.05
9.48
0.87
Distributions paid to shareholders from:
Net investment income
(1.10
)
(1.88
)
(0.62
)
(0.69
)
(0.24
)
Net realized gain
(0.40
)
(0.04
)
Total distributions
(1.10
)
(2.28
)
(0.66
)
(0.69
)
(0.24
)
Net asset value, end of period
$68.02
$55.75
$76.44
$59.05
$50.26
Total return (b)
24.01
%
(24.71
)%
30.62
%
18.97
%
1.78
%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$380,930
$471,056
$1,081,610
$590,535
$196,015
Ratio of total expenses to average net assets
0.70
%
0.70
%
0.70
%
0.70
%
0.70
%
Ratio of net investment income (loss) to average net assets
1.86
%
2.12
%
1.42
%
1.52
%
1.73
%
Portfolio turnover rate (c)
14
%
21
%
27
%
30
%
59
%
(a)
Based on average shares outstanding.
(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)
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.
See Notes to Financial Statements
Page 98

First Trust Exchange-Traded Fund II
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust S-Network Future Vehicles & Technology ETF (CARZ)
 
Year EndedSeptember 30,
 
2023
2022
2021
2020
2019
Net asset value, beginning of period
$40.41
$58.17
$39.00
$32.04
$36.33
Income from investment operations:
Net investment income (loss)
0.69
 (a)
1.38
0.60
0.34
1.02
Net realized and unrealized gain (loss)
11.18
(17.67
)
19.04
7.07
(4.28
)
Total from investment operations
11.87
(16.29
)
19.64
7.41
(3.26
)
Distributions paid to shareholders from:
Net investment income
(0.81
)
(1.47
)
(0.47
)
(0.45
)
(1.03
)
Net asset value, end of period
$51.47
$40.41
$58.17
$39.00
$32.04
Total return (b)
29.47
%
(28.66
)%
50.43
%
23.33
%
(8.97
)%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$41,172
$40,415
$63,989
$29,246
$17,623
Ratio of total expenses to average net assets
0.70
%
0.70
%
0.70
%
0.70
%
0.70
%
Ratio of net investment income (loss) to average net assets
1.41
%
2.57
%
1.17
%
1.09
%
3.19
%
Portfolio turnover rate (c)
39
%
133
%  (d)
42
%
36
%
24
%
(a)
Based on average shares outstanding.
(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)
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.
(d)
The variation in the portfolio turnover rate is due to the change in the Fund’s underlying index effective January 26, 2022, which resulted in a
complete rebalance of the Fund’s portfolio.
See Notes to Financial Statements
Page 99

First Trust Exchange-Traded Fund II
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Cloud Computing ETF (SKYY)
 
Year EndedSeptember 30,
 
2023
2022
2021
2020
2019
Net asset value, beginning of period
$60.30
$105.40
$78.48
$56.39
$56.71
Income from investment operations:
Net investment income (loss)
(0.05
)  (a)
0.79
0.15
0.16
0.59
Net realized and unrealized gain (loss)
15.68
(45.08
)
26.95
22.10
(0.31
)
Total from investment operations
15.63
(44.29
)
27.10
22.26
0.28
Distributions paid to shareholders from:
Net investment income
(0.81
)
(0.18
)
(0.17
)
(0.60
)
Net asset value, end of period
$75.93
$60.30
$105.40
$78.48
$56.39
Total return (b)
25.92
%
(42.32
)%
34.55
%
39.54
%
0.57
%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$2,646,045
$2,954,573
$6,239,449
$4,963,825
$2,168,198
Ratio of total expenses to average net assets
0.60
%
0.60
%
0.60
%
0.60
%
0.60
%
Ratio of net investment income (loss) to average net
assets
(0.07
)%
0.96
%
0.16
%
0.24
%
1.02
%
Portfolio turnover rate (c)
34
%
42
%
33
%
35
%
85
%
(a)
Based on average shares outstanding.
(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)
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.
See Notes to Financial Statements
Page 100

First Trust Exchange-Traded Fund II
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust International Equity Opportunities ETF (FPXI)
 
Year EndedSeptember 30,
 
2023
2022
2021
2020
2019
Net asset value, beginning of period
$35.71
$64.09
$56.64
$36.39
$35.10
Income from investment operations:
Net investment income (loss)
0.21
 (a)
0.54
0.40
0.11
0.30
Net realized and unrealized gain (loss)
2.91
(28.51
)
7.39
20.32
 (b)
1.29
Total from investment operations
3.12
(27.97
)
7.79
20.43
1.59
Distributions paid to shareholders from:
Net investment income
(0.33
)
(0.41
)
(0.34
)
(0.18
)
(0.30
)
Net asset value, end of period
$38.50
$35.71
$64.09
$56.64
$36.39
Total return (c)
8.72
%
(43.78
)%
13.73
%
56.24
%  (b)
4.60
%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$167,491
$321,421
$1,163,259
$356,803
$30,931
Ratio of total expenses to average net assets
0.70
%
0.70
%
0.70
%
0.70
%
0.70
%
Ratio of net investment income (loss) to average net assets
0.53
%
0.74
%
0.76
%
0.38
%
0.86
%
Portfolio turnover rate (d)
133
%
119
%
118
%
114
%
98
%
(a)
Based on average shares outstanding.
(b)
The Fund received a payment from the advisor in the amount of $806, which represents less than $0.01 per share. Since the advisor reimbursed
the Fund, there was no effect on the Fund’s total return.
(c)
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.
(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.
See Notes to Financial Statements
Page 101

First Trust Exchange-Traded Fund II
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Nasdaq Cybersecurity ETF (CIBR)
 
Year EndedSeptember 30,
 
2023
2022
2021
2020
2019
Net asset value, beginning of period
$38.56
$48.80
$34.78
$27.63
$28.49
Income from investment operations:
Net investment income (loss)
0.16
 (a)
0.31
0.04
0.50
0.06
Net realized and unrealized gain (loss)
6.88
(10.25
)
14.04
7.16
(0.86
)
Total from investment operations
7.04
(9.94
)
14.08
7.66
(0.80
)
Distributions paid to shareholders from:
Net investment income
(0.16
)
(0.30
)
(0.06
)
(0.51
)
(0.06
)
Net asset value, end of period
$45.44
$38.56
$48.80
$34.78
$27.63
Total return (b)
18.29
%
(20.53
)%
40.50
%
28.27
%
(2.78
)%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$4,964,584
$4,731,083
$4,770,298
$2,178,988
$979,650
Ratio of total expenses to average net assets
0.59
%
0.60
%
0.60
%
0.60
%
0.60
%
Ratio of net investment income (loss) to average net
assets
0.38
%
0.63
%
0.07
%
1.54
%
0.20
%
Portfolio turnover rate (c)
30
%
54
%
35
%
46
%
58
%
(a)
Based on average shares outstanding.
(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)
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.
See Notes to Financial Statements
Page 102

First Trust Exchange-Traded Fund II
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust IPOX® Europe Equity Opportunities ETF (FPXE)
 
Year EndedSeptember 30,
Period
Ended 
9/30/2019  (a)
 
2023
2022
2021
2020
Net asset value, beginning of period
$17.10
$30.55
$24.88
$19.66
$19.70
Income from investment operations:
Net investment income (loss)
0.30
 (b)
0.36
0.25
0.22
0.33
Net realized and unrealized gain (loss)
3.72
(13.43
)
5.75
5.30
(0.06
)
Total from investment operations
4.02
(13.07
)
6.00
5.52
0.27
Distributions paid to shareholders from:
Net investment income
(0.30
)
(0.38
)
(0.33
)
(0.30
)
(0.31
)
Net asset value, end of period
$20.82
$17.10
$30.55
$24.88
$19.66
Total return (c)
23.49
%
(42.95
)%
24.19
%
28.33
%
1.32
%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$4,164
$5,131
$10,692
$2,488
$1,966
Ratio of total expenses to average net assets
0.70
%
0.70
%
0.70
%
0.70
%
0.70
%  (d)
Ratio of net investment income (loss) to average net assets
1.42
%
1.31
%
0.51
%
0.74
%
1.77
%  (d)
Portfolio turnover rate (e)
119
%
118
%
118
%
63
%
67
%
(a)
Inception date is October 4, 2018, which is consistent with the commencement of investment operations and is the date the initial creation units
were established.
(b)
Based on average shares outstanding.
(c)
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.
(d)
Annualized.
(e)
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.
See Notes to Financial Statements
Page 103

First Trust Exchange-Traded Fund II
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Dow Jones International Internet ETF (FDNI)
 
Year EndedSeptember 30,
Period
Ended 
9/30/2019  (a)
 
2023
2022
2021
2020
Net asset value, beginning of period
$19.49
$39.96
$39.08
$21.02
$19.69
Income from investment operations:
Net investment income (loss)
0.08
 (b)
0.00
 (b)  (c)
(0.18
)
(0.03
)
0.75
Net realized and unrealized gain (loss)
1.49
(20.47
)
1.13
 (d)
18.40
1.04
Total from investment operations
1.57
(20.47
)
0.95
18.37
1.79
Distributions paid to shareholders from:
Net investment income
(0.09
)
(0.07
)
(0.31
)
(0.46
)
Net asset value, end of period
$20.97
$19.49
$39.96
$39.08
$21.02
Total return (e)
7.99
%
(51.23
)%
2.42
%
88.27
%
9.07
%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$26,208
$29,232
$103,903
$48,850
$4,204
Ratio of total expenses to average net assets
0.65
%
0.65
%
0.65
%
0.65
%
0.65
%  (f)
Ratio of net investment income (loss) to average net assets
0.37
%
0.00
%  (g)
(0.55
)%
(0.50
)%
4.42
%  (f)
Portfolio turnover rate (h)
65
%
29
%
34
%
23
%
61
%
(a)
Inception date is November 5, 2018, which is consistent with the commencement of investment operations and is the date the initial creation
units were established.
(b)
Based on average shares outstanding.
(c)
Amount represents less than $0.01.
(d)
The per share amount does not correlate with the aggregate realized and unrealized gain (loss) due to the timing of the Fund share sales and
repurchases in relation to market value fluctuation of the underlying investments.
(e)
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.
(f)
Annualized.
(g)
Amount is less than 0.01%.
(h)
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.
See Notes to Financial Statements
Page 104

Notes to Financial Statements
First Trust Exchange-Traded Fund II
September 30, 2023 
1. Organization
First Trust Exchange-Traded Fund II (the “Trust”) is an open-end management investment company organized as a Massachusetts business trust on July 6, 2006, and is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the “1940 Act”).
The Trust currently consists of eighteen exchange-traded funds. This report covers the fifteen funds (each a “Fund” and collectively, the “Funds”) listed below: 
First Trust STOXX® European Select Dividend Index Fund – (NYSE Arca, Inc. (“NYSE Arca”) ticker “FDD”)
First Trust Alerian Disruptive Technology Real Estate ETF – (NYSE Arca ticker “DTRE”)
First Trust Dow Jones Global Select Dividend Index Fund – (NYSE Arca ticker “FGD”)
First Trust Global Wind Energy ETF – (NYSE Arca ticker “FAN”)
First Trust Alerian U.S. NextGen Infrastructure ETF – (NYSE Arca ticker “RBLD”)
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund – (Nasdaq, Inc. (“Nasdaq”) ticker “GRID”)
First Trust Indxx Global Natural Resources Income ETF – (Nasdaq ticker “FTRI”)
First Trust Indxx Global Agriculture ETF – (Nasdaq ticker “FTAG”)
First Trust Indxx NextG ETF – (Nasdaq ticker “NXTG”)
First Trust S-Network Future Vehicles & Technology ETF – (Nasdaq ticker “CARZ”)
First Trust Cloud Computing ETF – (Nasdaq ticker “SKYY”)
First Trust International Equity Opportunities ETF – (Nasdaq ticker “FPXI”)
First Trust Nasdaq Cybersecurity ETF – (Nasdaq ticker “CIBR”)
First Trust IPOX® Europe Equity Opportunities ETF – (Nasdaq ticker “FPXE”)
First Trust Dow Jones International Internet ETF – (Nasdaq ticker “FDNI”)
Each of DTRE, FAN, GRID, FTRI, FTAG, CARZ, FPXI, CIBR, FPXE and FDNI operates as a non-diversified series of the Trust. Each of FDD, FGD, RBLD, NXTG and SKYY operates as a diversified open-end management investment company as defined in Section 5(b) of the 1940 Act. Each Fund represents a separate series of shares of beneficial interest in the Trust. Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at net asset value (“NAV”), only in large blocks of shares known as “Creation Units.” The investment objective of each Fund is to seek investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of the following indices:
Fund
Index
First Trust STOXX® European Select Dividend Index Fund
STOXX® Europe Select Dividend 30 Index
First Trust Alerian Disruptive Technology Real Estate ETF
Alerian Disruptive Technology Real Estate Index
First Trust Dow Jones Global Select Dividend Index Fund
Dow Jones Global Select Dividend Index
First Trust Global Wind Energy ETF
ISE Clean Edge Global Wind EnergyTM Index
First Trust Alerian U.S. NextGen Infrastructure ETF
Alerian U.S. NextGen Infrastructure Index
First Trust NASDAQ® Clean Edge® Smart Grid
Infrastructure Index Fund
Nasdaq Clean Edge Smart Grid InfrastructureTM Index
First Trust Indxx Global Natural Resources Income ETF
Indxx Global Natural Resources Income Index
First Trust Indxx Global Agriculture ETF
Indxx Global Agriculture Index
First Trust Indxx NextG ETF
Indxx 5G & NextG Thematic IndexSM
First Trust S-Network Future Vehicles & Technology ETF
S-Network Electric & Future Vehicle Ecosystem Index
First Trust Cloud Computing ETF
ISE CTA Cloud ComputingTM Index
First Trust International Equity Opportunities ETF
IPOX® International Index
First Trust Nasdaq Cybersecurity ETF
Nasdaq CTA CybersecurityTM Index
First Trust IPOX® Europe Equity Opportunities ETF
IPOX®-100 Europe Index
First Trust Dow Jones International Internet ETF
Dow Jones International Internet Index
2. Significant Accounting Policies
The Funds are each considered an investment company and follow accounting and reporting guidance under Financial Accounting Standards Board Accounting Standards Codification Topic 946, “Financial Services-Investment Companies.” The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of the financial statements. The preparation of the financial statements in accordance with accounting principles generally accepted in the United States of America
Page 105

Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 
(“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.
A. Portfolio Valuation
Each Fund’s NAV is determined daily as of the close of regular trading on the New York Stock Exchange (“NYSE”), normally 4:00 p.m. Eastern time, on each day the NYSE is open for trading. If the NYSE closes early on a valuation day, the NAV is determined as of that time. Foreign securities are priced using data reflecting the earlier closing of the principal markets for those securities. Each Fund’s NAV is calculated by dividing the value of all assets of each Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of shares outstanding.
Each Fund’s investments are valued daily at market value or, in the absence of market value with respect to any portfolio securities, at fair value. Market value prices represent readily available market quotations such as last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. Fair value prices represent any prices not considered market value prices and are either obtained from a third-party pricing service or are determined by the Pricing Committee of the Funds’ investment advisor, First Trust Advisors L.P. (“First Trust” or the “Advisor”), in accordance with valuation procedures approved by the Trust’s Board of Trustees, and in accordance with provisions of the 1940 Act and rules thereunder. Investments valued by the Advisor’s Pricing Committee, if any, are footnoted as such in the footnotes to the Portfolio of Investments. Each Fund’s investments are valued as follows:
Common stocks and other equity securities listed on any national or foreign exchange (excluding Nasdaq and the London Stock Exchange Alternative Investment Market (“AIM”)) are valued at the last sale price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price. Securities traded on more than one securities exchange are valued at the last sale price or official closing price, as applicable, at the close of the securities exchange representing the primary exchange for such securities.
Securities trading on foreign exchanges or over-the-counter markets that close prior to the NYSE close may be valued using a systematic fair valuation model provided by a third-party pricing service. If these foreign securities meet certain criteria in relation to the valuation model, their valuation is systematically adjusted to reflect the impact of movement in the U.S. market after the close of the foreign markets.
Shares of open-end funds are valued based on NAV per share.
Equity securities traded in an over-the-counter market are valued at the close price or the last trade price.
Overnight repurchase agreements are valued at amortized cost when it represents the most appropriate reflection of fair market value.
Certain securities may not be able to be priced by pre-established pricing methods. Such securities may be valued by the Advisor’s Pricing Committee at fair value. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933, as amended) for which a third-party pricing service is unable to provide a market price; securities whose trading has been formally suspended; a security whose market or fair value price is not available from a pre-established pricing source; a security with respect to which an event has occurred that is likely to materially affect the value of the security after the market has closed but before the calculation of a Fund’s NAV or make it difficult or impossible to obtain a reliable market quotation; and a security whose price, as provided by the third-party pricing service, does not reflect the security’s fair value. As a general principle, the current fair value of a security would appear to be the amount which the owner might reasonably expect to receive for the security upon its current sale. When fair value prices are used, generally they will differ from market quotations or official closing prices on the applicable exchanges. A variety of factors may be considered in determining the fair value of such securities, including, but not limited to, the following:
 1)
the last sale price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price;
 2)
the type of security;
 3)
the size of the holding;
 4)
the initial cost of the security;
 5)
transactions in comparable securities;
 6)
price quotes from dealers and/or third-party pricing services;
Page 106

Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 
 7)
relationships among various securities;
 8)
information obtained by contacting the issuer, analysts, or the appropriate stock exchange;
 9)
an analysis of the issuer’s financial statements;
10)
the existence of merger proposals or tender offers that might affect the value of the security; and
11)
other relevant factors.
If the securities in question are foreign securities, the following additional information may be considered:
 1)
the value of similar foreign securities traded on other foreign markets;
 2)
ADR trading of similar securities;
 3)
closed-end fund or exchange-traded fund trading of similar securities;
 4)
foreign currency exchange activity;
 5)
the trading prices of financial products that are tied to baskets of foreign securities;
 6)
factors relating to the event that precipitated the pricing problem;
 7)
whether the event is likely to recur;
 8)
whether the effects of the event are isolated or whether they affect entire markets, countries or regions; and
 9)
other relevant factors.
In addition, differences between the prices used to calculate a Fund’s NAV and the prices used by such Fund’s corresponding index could result in a difference between a Fund’s performance and the performance of its underlying index.
Because foreign markets may be open on different days than the days during which investors may transact in the shares of a Fund, the value of the Fund’s securities may change on the days when investors are not able to transact in the shares of the Fund. The value of the securities denominated in foreign currencies is converted into U.S. dollars using exchange rates determined daily as of the close of regular trading on the NYSE. Any use of a different rate from the rates used by a relevant index may adversely affect the Fund’s ability to track the index.
The Funds are subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:
  Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
  Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following:
o  Quoted prices for similar investments in active markets.
o  Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly.
o  Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates).
o  Inputs that are derived principally from or corroborated by observable market data by correlation or other means.
  Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment.
The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments. A summary of the inputs used to value each Fund’s investments as of September 30, 2023, is included with each Fund’s Portfolio of Investments.
B. Securities Transactions and Investment Income
Securities transactions are recorded as of the trade date. Realized gains and losses from securities transactions are recorded on the identified cost basis. Dividend income is recorded on the ex-dividend date. Interest income, if any, is recorded on the accrual basis.
Withholding taxes and tax reclaims on foreign dividends have been provided for in accordance with each Fund’s understanding of the applicable country’s tax rules and rates.
Page 107

Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 
Distributions received from a Fund’s investments in master limited partnerships (“MLPs”) generally are comprised of return of capital and investment income. A Fund records estimated return of capital and investment income based on historical information available from each MLP. These estimates may subsequently be revised based on information received from the MLPs after their tax reporting periods are concluded.
Distributions received from a Fund’s investments in real estate investment trusts (“REITs”) may be comprised of return of capital, capital gains and income. The actual character of the amounts received during the year is not known until after the REITs’ fiscal year end. A Fund records the character of distributions received from the REITs during the year based on estimates available. The characterization of distributions received by a Fund may be subsequently revised based on information received from the REITs after their tax reporting periods conclude.
C. Offsetting on the Statements of Assets and Liabilities
Offsetting assets and liabilities requires entities to disclose both gross and net information about instruments and transactions eligible for offset on the Statements of Assets and Liabilities and disclose instruments and transactions subject to master netting or similar agreements. These disclosure requirements are intended to help investors and other financial statement users better assess the effect or potential effect of offsetting arrangements on a Fund’s financial position. The transactions subject to offsetting disclosures are derivative instruments, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions.
This disclosure, if applicable, is included within each Fund’s Portfolio of Investments under the heading “Offsetting Assets and Liabilities.” For financial reporting purposes, the Funds do not offset financial assets and financial liabilities that are subject to master netting arrangements (“MNAs”) or similar agreements on the Statements of Assets and Liabilities. MNAs provide the right, in the event of default (including bankruptcy and insolvency), for the non-defaulting counterparty to liquidate the collateral and calculate the net exposure to the defaulting party or request additional collateral.
D. Foreign Currency
The books and records of the Funds are maintained in U.S. dollars. Foreign currencies, investments and other assets and liabilities are translated into U.S. dollars at the exchange rates prevailing at the end of the period. Purchases and sales of investments and items of income and expense are translated on the respective dates of such transactions. Unrealized gains and losses on assets and liabilities, other than investments in securities, which result from changes in foreign currency exchange rates have been included in “Net change in unrealized appreciation (depreciation) on foreign currency translation” on the Statements of Operations. Unrealized gains and losses on investments in securities which result from changes in foreign exchange rates are included with fluctuations arising from changes in market price and are shown in “Net change in unrealized appreciation (depreciation) on investments” on the Statements of Operations. Net realized foreign currency gains and losses include the effect of changes in exchange rates between trade date and settlement date on investment security transactions, foreign currency transactions and interest and dividends received and are included in “Net realized gain (loss) on foreign currency transactions” on the Statements of Operations. The portion of foreign currency gains and losses related to fluctuations in exchange rates between the initial purchase settlement date and subsequent sale trade date is included in “Net realized gain (loss) on investments” on the Statements of Operations.
E. Securities Lending
The Funds may lend securities representing up to 33 1/3% of the value of their total assets to broker-dealers, banks and other institutions to generate additional income. When a Fund loans its portfolio securities, it will receive, at the inception of each loan, collateral equal to at least 102% (for domestic securities) or 105% (for international securities) of the market value of the loaned securities. The collateral amount is valued at the beginning of each business day and is compared to the market value of the loaned securities from the prior business day to determine if additional collateral is required. If additional collateral is required, a request is sent to the borrower. Securities lending involves the risk that the Fund may lose money because the borrower of the Fund’s loaned securities fails to return the securities in a timely manner or at all. The Fund could also lose money in the event of (i) a decline in the value of the collateral provided for the loaned securities, (ii) a decline in the value of any investments made with cash collateral or (iii) an increase in the value of the loaned securities if the borrower does not increase the collateral accordingly and the borrower fails to return the securities. These events could also trigger adverse tax consequences for the Funds.
Under the Funds’ Securities Lending Agency Agreement, the securities lending agent will generally bear the risk that a borrower may default on its obligation to return loaned securities. Brown Brothers Harriman & Co. (“BBH”) acts as the Funds’ securities lending agent and is responsible for executing the lending of the portfolio securities to creditworthy borrowers with the exception of FAN. The
Page 108

Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 
Bank of New York Mellon (“BNYM”) acts as FAN’s securities lending agent and is responsible for executing the lending of the portfolio securities to creditworthy borrowers. The Funds, however, will be responsible for the risks associated with the investment of cash collateral. A Fund may lose money on its investment of cash collateral, which may affect its ability to repay the collateral to the borrower without the use of other Fund assets. Each Fund that engages in securities lending receives compensation (net of any rebate and securities lending agent fees) for lending its securities. Compensation can be in the form of fees received from the securities lending agent or dividends or interest earned from the investment of cash collateral. The fees received from the securities lending agent are accrued daily. The dividend and interest earned on the securities loaned is accounted for in the same manner as other dividend and interest income. At September 30, 2023, FAN, GRID, FTRI, NXTG, CARZ, SKYY, and FPXI had securities in the securities lending program. During the fiscal year ended September 30, 2023, FAN, RBLD, GRID, FRTI, NXTG, CARZ, SKYY, FPXI, CIBR, and FPXE participated in the securities lending program.
In the event of a default by a borrower with respect to any loan, BBH or BNYM will exercise any and all remedies provided under the applicable borrower agreement to make the Funds whole. These remedies include purchasing replacement securities by applying the collateral held from the defaulting broker against the purchase cost of the replacement securities. If, despite such efforts by BBH and BNYM to exercise these remedies, a Fund sustains losses as a result of a borrower’s default, BBH or BNYM will indemnify the Fund by purchasing replacement securities at its own expense, or paying the Fund an amount equal to the market value of the replacement securities, subject to certain limitations which are set forth in detail in the Securities Lending Agency Agreement between the Trust on behalf of the Funds and BBH or BNYM.
F. Repurchase Agreements
Repurchase agreements involve the purchase of securities subject to the seller’s agreement to repurchase the securities at a mutually agreed upon date and price, under the terms of a Master Repurchase Agreement (“MRA”). During the term of a repurchase agreement, the value of the underlying securities held as collateral on behalf of a Fund, including accrued interest, is required to exceed the value of the repurchase agreement, including accrued interest. The underlying securities for all repurchase agreements are held at the Funds’ custodian or designated sub-custodians under tri-party repurchase agreements.
MRAs govern transactions between a Fund and select counterparties. The MRAs contain provisions for, among other things, initiation, income payments, events of default, and maintenance of collateral for repurchase agreements.
Repurchase agreements received for lending securities are collateralized by U.S. Treasury securities. The U.S. Treasury securities are held in a joint custody account at BBH or BNYM on behalf of the Funds participating in the securities lending program. In the event the counterparty defaults on the repurchase agreement, the U.S. Treasury securities can either be maintained as part of a Fund’s portfolio or sold for cash. A Fund could suffer a loss to the extent that the proceeds from the sale of the underlying collateral held by the Fund are less than the repurchase price and the Fund’s costs associated with the delay and enforcement of the MRA.
While the Funds may invest in repurchase agreements, any repurchase agreements held by the Funds during the fiscal year ended September 30, 2023, were received as collateral for lending securities.
G. Dividends and Distributions to Shareholders
Dividends from net investment income of each Fund, if any, are declared and paid quarterly, or as the Board of Trustees may determine from time to time. Distributions of net realized gains earned by each Fund, if any, are distributed at least annually. A Fund may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.
Distributions from net investment income and realized capital gains are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These permanent differences are primarily due to the varying treatment of income and gain/loss on significantly modified portfolio securities held by the Funds and have no impact on net assets or NAV per share. Temporary differences, which arise from recognizing certain items of income, expense and gain/loss in different periods for financial statement and tax purposes, will reverse at some time in the future.
Page 109

Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 
The tax character of distributions paid by each Fund during the fiscal year ended September 30, 2023 was as follows:
 
Distributions
paid from
Ordinary
Income
Distributions
paid from
Capital
Gains
Distributions
paid from
Return of
Capital
First Trust STOXX® European Select Dividend Index Fund
$11,339,350
$
$
First Trust Alerian Disruptive Technology Real Estate ETF
637,446
First Trust Dow Jones Global Select Dividend Index Fund
39,597,608
First Trust Global Wind Energy ETF
4,348,626
First Trust Alerian U.S. NextGen Infrastructure ETF
97,141
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund
10,318,462
First Trust Indxx Global Natural Resources Income ETF
15,107,267
First Trust Indxx Global Agriculture ETF
569,279
First Trust Indxx NextG ETF
6,776,282
First Trust S-Network Future Vehicles & Technology ETF
653,962
First Trust Cloud Computing ETF
First Trust International Equity Opportunities ETF
1,774,581
First Trust Nasdaq Cybersecurity ETF
18,090,451
First Trust IPOX® Europe Equity Opportunities ETF
74,090
First Trust Dow Jones International Internet ETF
121,095
The tax character of distributions paid by each Fund during the fiscal year ended September 30, 2022 was as follows:
 
Distributions
paid from
Ordinary
Income
Distributions
paid from
Capital
Gains
Distributions
paid from
Return of
Capital
First Trust STOXX® European Select Dividend Index Fund
$13,077,255
$
$
First Trust Alerian Disruptive Technology Real Estate ETF
1,182,167
First Trust Dow Jones Global Select Dividend Index Fund
33,007,963
First Trust Global Wind Energy ETF
4,523,536
First Trust Alerian U.S. NextGen Infrastructure ETF
174,012
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund
6,402,097
First Trust Indxx Global Natural Resources Income ETF
14,042,378
First Trust Indxx Global Agriculture ETF
278,287
First Trust Indxx NextG ETF
21,161,695
4,454,950
First Trust S-Network Future Vehicles & Technology ETF
1,776,897
First Trust Cloud Computing ETF
47,254,977
First Trust International Equity Opportunities ETF
4,260,436
First Trust Nasdaq Cybersecurity ETF
33,554,011
First Trust IPOX® Europe Equity Opportunities ETF
115,891
First Trust Dow Jones International Internet ETF
Page 110

Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 
As of September 30, 2023, the components of distributable earnings on a tax basis for each Fund were as follows:
 
Undistributed
Ordinary
Income
Accumulated
Capital and
Other
Gain (Loss)
Net
Unrealized
Appreciation
(Depreciation)
First Trust STOXX® European Select Dividend Index Fund
$1,406,286
$(84,715,028
)
$(16,836,923
)
First Trust Alerian Disruptive Technology Real Estate ETF
151,779
(7,722,637
)
(408,566
)
First Trust Dow Jones Global Select Dividend Index Fund
4,982,215
(209,201,024
)
(89,309,172
)
First Trust Global Wind Energy ETF
340,291
(75,299,201
)
(73,068,366
)
First Trust Alerian U.S. NextGen Infrastructure ETF
5,031
(8,980,153
)
198,179
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund
593,843
(51,618,361
)
(16,518,598
)
First Trust Indxx Global Natural Resources Income ETF
1,345,983
(95,394,649
)
(21,199,076
)
First Trust Indxx Global Agriculture ETF
21,909
(21,056,332
)
(3,414,171
)
First Trust Indxx NextG ETF
928,216
(11,135,895
)
(34,547,005
)
First Trust S-Network Future Vehicles & Technology ETF
61,694
(15,410,071
)
(4,314,215
)
First Trust Cloud Computing ETF
(1,517,519,715
)
(121,708,848
)
First Trust International Equity Opportunities ETF
98,369
(362,941,971
)
14,544,261
First Trust Nasdaq Cybersecurity ETF
878,527
(648,374,027
)
307,851,876
First Trust IPOX® Europe Equity Opportunities ETF
33,970
(4,014,153
)
290,838
First Trust Dow Jones International Internet ETF
(20,256,808
)
(18,244,575
)
H. Income and Other Taxes
Each Fund intends to continue to qualify as a regulated investment company by complying with the requirements under Subchapter M of the Internal Revenue Code of 1986, as amended, which includes distributing substantially all of its net investment income and net realized gains to shareholders. Accordingly, no provision has been made for federal and state income taxes. However, due to the timing and amount of distributions, each Fund may be subject to an excise tax of 4% of the amount by which approximately 98% of each Fund’s taxable income exceeds the distributions from such taxable income for the calendar year.
Certain countries assess a capital gains tax on securities sold in their local markets. This tax is accrued as the securities in these foreign markets appreciate in value and is paid at the time of sale to the extent a capital gain is realized. Taxes accrued on securities in an unrealized appreciation position are included in “Net change in unrealized appreciation (depreciation) on deferred foreign capital gains tax” on the Statements of Operations. The capital gains tax paid on securities sold, if any, is included in “Net realized gain (loss) on foreign capital gains tax” on the Statements of Operations.
India’s Finance Bill, 2018 (“Finance Bill, 2018”) was enacted into law on March 29, 2018 and amongst other provisions, it introduced a long-term capital gains tax beginning April 1, 2018. Long-term capital gains on the sale of listed shares in excess of INR 0.1 million are taxed at the rate of 10% (plus applicable surcharge and cess (which is a type of tax)) subject to satisfaction of certain conditions. Long-term capital gains accruing as of January 31, 2018 are considered exempt due to a grandfather clause in the provision. The aforesaid exemption from long-term capital gains tax is available with respect to shares acquired between October 1, 2004 and March 31, 2018 only if on such acquisitions Securities Transaction Tax (“STT”) was chargeable. Certain exceptions in this regard, such as acquisition of shares in a public offer, bonus, rights issued, etc. for which the condition of chargeability of STT on acquisition is not applicable, have been notified.
In the case of the sale of listed shares held by a Fund for one year or less, the income is classified as short-term capital gains and is taxable at 15% (plus applicable surcharge and cess) provided the shares are sold on the stock exchange and subjected to STT. For above purposes, the applicable rate of surcharge is 2% or 5% (depending on the level of income of the Fund). The Finance Bill, 2018 increases the cess imposed on the sum of tax and surcharge from 3% to 4%. The cess 4% rate is applied to the capital gains tax, resulting in a higher effective rate of capital gains tax.
Where the sale of shares is outside the stock exchange and not subject to STT, the long-term capital gains are taxed at 10% (plus applicable surcharge and cess) and short-term capital gains are taxed at 30% (plus applicable surcharge and cess). The Finance Bill, 2018, approves the carry forward of long-term capital losses to be offset against long-term capital gains. Short-term losses can be netted against both short-term gains and long-term gains.
Page 111

Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 
Until March 31, 2020, dividends received by a Fund from Indian companies were exempt from tax in India because Indian companies were required to pay dividend distribution tax. The Indian Finance Act, 2020 has amended the dividend taxation framework effective April 1, 2020 and accordingly dividends would now be taxable in the hands of the shareholders at 20%, plus applicable surcharge and cess. Subsequent to the Indian Finance Act, 2020, “The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020” (the “Bill”) was enacted into law and is effective retroactively to April 1, 2020. The Bill caps the maximum surcharge at 15% of the tax on dividend income earned by the Fund. The highest effective tax rate proposed for non-corporate entities on dividends will be 23.92%. Note the Fund will not obtain relief under the US-India tax treaty as the treaty rate of 25% is higher than the domestic rate. Any excess taxes withheld can be offset against capital gains tax liability during the year or claimed as a refund in the annual tax return.
Please note that the above description is based on current provisions of Indian law, and any change or modification made by subsequent legislation, regulation, or administrative or judicial decision could increase the Indian tax liability of a Fund and thus reduce the return to a Fund’s shareholders. There can be no assurance that the Indian tax authorities and/or regulators will not take a position contrary to the views expressed herein. If the Indian tax authorities and/or regulators take a position contrary to the views expressed herein, adverse unpredictable consequences may follow.
The Funds are subject to accounting standards that establish a minimum threshold for recognizing, and a system for measuring, the benefits of a tax position taken or expected to be taken in a tax return. The taxable years ended 2020, 2021, 2022, and 2023 remain open to federal and state audit. As of September 30, 2023, management has evaluated the application of these standards to the Funds and has determined that no provision for income tax is required in the Funds’ financial statements for uncertain tax positions.
Each Fund intends to utilize provisions of the federal income tax laws, which allow it to carry a realized capital loss forward indefinitely following the year of the loss and offset such loss against any future realized capital gains. Each Fund is subject to certain limitations under U.S. tax rules on the use of capital loss carryforwards and net unrealized built-in losses. These limitations apply when there has been a 50% change in ownership. At September 30, 2023, for federal income tax purposes, each applicable Fund had a capital loss carryforward available that is shown in the following table, to the extent provided by regulations, to offset future capital gains. To the extent that these loss carryforwards are used to offset future capital gains, it is probable that the capital gains so offset will not be distributed to each applicable Fund’s shareholders.
 
Non-Expiring
Capital Loss
Carryforwards
First Trust STOXX® European Select Dividend Index Fund
$84,715,028
First Trust Alerian Disruptive Technology Real Estate ETF*
7,722,637
First Trust Dow Jones Global Select Dividend Index Fund
209,201,024
First Trust Global Wind Energy ETF
75,299,201
First Trust Alerian U.S. NextGen Infrastructure ETF
8,980,153
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund
51,618,361
First Trust Indxx Global Natural Resources Income ETF
95,394,649
First Trust Indxx Global Agriculture ETF
21,056,332
First Trust Indxx NextG ETF
11,135,895
First Trust S-Network Future Vehicles & Technology ETF
15,410,071
First Trust Cloud Computing ETF
1,517,519,715
First Trust International Equity Opportunities ETF
362,941,971
First Trust Nasdaq Cybersecurity ETF
648,374,027
First Trust IPOX® Europe Equity Opportunities ETF
4,014,153
First Trust Dow Jones International Internet ETF
20,256,808
*
$75,097 of First Trust Alerian Disruptive Technology Real Estate ETF’s non-expiring net capital losses is subject to loss limitation
resulting from reorganization activity. This limitation generally reduces the utilization of these losses to a maximum of $38,346 per
year.
Page 112

Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 
During the taxable year ended September 30, 2023, the following Fund utilized non-expiring capital loss carryforwards in the following amounts:
 
Capital Loss
Carryforward
Utilized
First Trust Alerian U.S. NextGen Infrastructure ETF
$10,164
Certain losses realized during the current fiscal year may be deferred and treated as occurring on the first day of the following fiscal year for federal income tax purposes. For the fiscal year ended September 30, 2023, the Funds had no net late year ordinary or capital losses.
In order to present paid-in capital and accumulated distributable earnings (loss) (which consists of accumulated net investment income (loss), accumulated net realized gain (loss) on investments and net unrealized appreciation (depreciation) on investments) on the Statements of Assets and Liabilities that more closely represent their tax character, certain adjustments have been made to paid-in capital, accumulated net investment income (loss) and accumulated net realized gain (loss) on investments. These adjustments are primarily due to the difference between book and tax treatments of income and gains on various investment securities held by the Funds and in-kind transactions. The results of operations and net assets were not affected by these adjustments. For the fiscal year ended September 30, 2023, the adjustments for each Fund were as follows:
 
Accumulated
Net Investment
Income (Loss)
Accumulated
Net Realized
Gain (Loss)
on Investments
Paid-In
Capital
First Trust STOXX® European Select Dividend Index Fund
$(97,884
)
$3,177,787
$(3,079,903
)
First Trust Alerian Disruptive Technology Real Estate ETF
405,848
(971,279
)
565,431
First Trust Dow Jones Global Select Dividend Index Fund
(1,058,041
)
6,162,711
(5,104,670
)
First Trust Global Wind Energy ETF
(41,458
)
(4,900,812
)
4,942,270
First Trust Alerian U.S. NextGen Infrastructure ETF
834
254,436
(255,270
)
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund
(209,329
)
(25,875,246
)
26,084,575
First Trust Indxx Global Natural Resources Income ETF
(117,149
)
(1,041,928
)
1,159,077
First Trust Indxx Global Agriculture ETF
(20,056
)
385,144
(365,088
)
First Trust Indxx NextG ETF
(538,865
)
(15,775,579
)
16,314,444
First Trust S-Network Future Vehicles & Technology ETF
(10,643
)
(1,426,004
)
1,436,647
First Trust Cloud Computing ETF
1,895,329
(182,422,627
)
180,527,298
First Trust International Equity Opportunities ETF
(128,069
)
(5,186,349
)
5,314,418
First Trust Nasdaq Cybersecurity ETF
32,782
(128,880,865
)
128,848,083
First Trust IPOX® Europe Equity Opportunities ETF
2,385
(425,561
)
423,176
First Trust Dow Jones International Internet ETF
13,862
3,219,454
(3,233,316
)
As of September 30, 2023, the aggregate cost, gross unrealized appreciation, gross unrealized depreciation, and net unrealized appreciation/(depreciation) on investments (including short positions and derivatives, if any) for federal income tax purposes were as follows:
 
Tax Cost
Gross
Unrealized
Appreciation
Gross
Unrealized
(Depreciation)
Net Unrealized
Appreciation
(Depreciation)
First Trust STOXX® European Select Dividend Index
Fund
$193,629,187
$10,020,849
$(26,707,280
)
$(16,686,431
)
First Trust Alerian Disruptive Technology Real Estate
ETF
20,955,809
1,883,864
(2,289,476
)
(405,612
)
First Trust Dow Jones Global Select Dividend Index Fund
717,470,762
33,520,144
(122,681,036
)
(89,160,892
)
First Trust Global Wind Energy ETF
282,735,296
13,730,962
(86,772,108
)
(73,041,146
)
First Trust Alerian U.S. NextGen Infrastructure ETF
7,385,022
909,792
(710,811
)
198,981
First Trust NASDAQ® Clean Edge® Smart Grid
Infrastructure Index Fund
1,034,550,373
90,977,588
(107,497,554
)
(16,519,966
)
Page 113

Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 
 
Tax Cost
Gross
Unrealized
Appreciation
Gross
Unrealized
(Depreciation)
Net Unrealized
Appreciation
(Depreciation)
First Trust Indxx Global Natural Resources Income ETF
$259,967,394
$8,007,887
$(29,046,804
)
$(21,038,917
)
First Trust Indxx Global Agriculture ETF
16,136,690
646,719
(4,025,638
)
(3,378,919
)
First Trust Indxx NextG ETF
420,705,411
38,127,293
(72,301,396
)
(34,174,103
)
First Trust S-Network Future Vehicles & Technology
ETF
47,383,312
3,375,805
(7,686,167
)
(4,310,362
)
First Trust Cloud Computing ETF
2,768,891,447
476,004,385
(597,713,233
)
(121,708,848
)
First Trust International Equity Opportunities ETF
155,660,026
19,884,913
(5,332,773
)
14,552,140
First Trust Nasdaq Cybersecurity ETF
4,650,694,733
756,413,252
(448,557,865
)
307,855,387
First Trust IPOX® Europe Equity Opportunities ETF
3,865,773
523,844
(232,811
)
291,033
First Trust Dow Jones International Internet ETF
43,606,763
495,792
(18,740,343
)
(18,244,551
)
I. Expenses
Expenses that are directly related to one of the Funds are charged directly to the respective Fund, except for First Trust Alerian Disruptive Technology Real Estate ETF, First Trust Alerian U.S. NextGen Infrastructure ETF, First Trust Indxx Global Natural Resources Income ETF, First Trust Indxx Global Agriculture ETF, First Trust Indxx NextG ETF, First Trust S-Network Future Vehicles & Technology ETF, First Trust Cloud Computing ETF, First Trust International Equity Opportunities ETF, First Trust Nasdaq Cybersecurity ETF, First Trust IPOX® Europe Equity Opportunities ETF, and First Trust Dow Jones International Internet ETF (the “Unitary Fee Funds”), for which expenses other than excluded expenses (discussed in Note 3) are paid by the Advisor. General expenses of the Trust are allocated to all the Funds based upon the net assets of each Fund.
First Trust has entered into licensing agreements with each of the following “Licensors” for the respective Funds:
Fund
Licensor
First Trust STOXX® European Select Dividend Index Fund
STOXX Limited
First Trust Alerian Disruptive Technology Real Estate ETF
VettaFi LLC
First Trust Dow Jones Global Select Dividend Index Fund
S&P Dow Jones Indices LLC
First Trust Global Wind Energy ETF
Nasdaq, Inc.
First Trust Alerian U.S. NextGen Infrastructure ETF
VettaFi LLC
First Trust NASDAQ® Clean Edge® Smart Grid
Infrastructure Index Fund
Nasdaq, Inc.
First Trust Indxx Global Natural Resources Income ETF
Indxx, Inc.
First Trust Indxx Global Agriculture ETF
Indxx, Inc.
First Trust Indxx NextG ETF
Indxx, Inc.
First Trust S-Network Future Vehicles & Technology ETF
VettaFi LLC
First Trust Cloud Computing ETF
Nasdaq, Inc.
First Trust International Equity Opportunities ETF
IPOX® Schuster LLC
First Trust Nasdaq Cybersecurity ETF
Nasdaq, Inc.
First Trust IPOX® Europe Equity Opportunities ETF
IPOX® Schuster LLC
First Trust Dow Jones International Internet ETF
S&P Dow Jones Indices LLC
The respective license agreements allow for the use by First Trust of each Fund’s respective index and of certain trademarks and trade names of the respective Licensors. The Funds are sub-licensees to the applicable license agreements. The Funds, except for the Unitary Fee Funds, are required to pay licensing fees, which are shown on the Statements of Operations. The licensing fees for the Unitary Fee Funds are paid by First Trust from the unitary investment advisory fees it receives from each of these Funds.
3. Investment Advisory Fee, Affiliated Transactions and Other Fee Arrangements
First Trust, the investment advisor to the Funds, is a limited partnership with one limited partner, Grace Partners of DuPage L.P., and one general partner, The Charger Corporation. The Charger Corporation is an Illinois corporation controlled by James A. Bowen, Chief Executive Officer of First Trust. First Trust is responsible for the selection and ongoing monitoring of the securities in each Fund’s portfolio, managing the Funds’ business affairs and providing certain administrative services necessary for the management of the Funds.
Page 114

Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 
For the Unitary Fee Funds, First Trust is paid an annual unitary management fee based on a percentage of each Fund’s average daily net assets and is responsible for the expenses of such Fund including the cost of transfer agency, custody, fund administration, legal, audit, license and other services, and excluding fee payments under the Investment Management Agreement, distribution and service fees pursuant to a Rule 12b-1 plan, if any, brokerage expenses, acquired fund fees and expenses, taxes, interest, and extraordinary expenses. Effective November 1, 2022, the annual unitary management fee payable by each Fund to First Trust for these services will be reduced at certain levels of each Fund’s net assets (“breakpoints”) and calculated pursuant to the following schedule:
Breakpoints
RBLD
SKYY
CIBR
Fund net assets up to and including $2.5 billion
0.65000
%
0.600
%
0.600
%
Fund net assets greater than $2.5 billion up to and including $5 billion
0.63375
%
0.585
%
0.585
%
Fund net assets greater than $5 billion up to and including $7.5 billion
0.61750
%
0.570
%
0.570
%
Fund net assets greater than $7.5 billion up to and including $10 billion
0.60125
%
0.555
%
0.555
%
Fund net assets greater than $10 billion up to and including $15 billion
0.58500
%
0.540
%
0.540
%
Fund net assets greater than $15 billion
0.55250
%
0.510
%
0.510
%
Breakpoints
DTRE
FTRI
FTAG
NXTG
Fund net assets up to and including $2.5 billion
0.600
%
0.7000
%
0.7000
%
0.7000
%
Fund net assets greater than $2.5 billion up to and including $5 billion
0.585
%
0.6825
%
0.6825
%
0.6825
%
Fund net assets greater than $5 billion up to and including $7.5 billion
0.570
%
0.6650
%
0.6650
%
0.6650
%
Fund net assets greater than $7.5 billion up to and including $10 billion
0.555
%
0.6475
%
0.6475
%
0.6475
%
Fund net assets greater than $10 billion
0.540
%
0.6300
%
0.6300
%
0.6300
%
Breakpoints
CARZ
FPXI
FPXE
FDNI
Fund net assets up to and including $2.5 billion
0.7000
%
0.7000
%
0.7000
%
0.65000
%
Fund net assets greater than $2.5 billion up to and including $5 billion
0.6825
%
0.6825
%
0.6825
%
0.63375
%
Fund net assets greater than $5 billion up to and including $7.5 billion
0.6650
%
0.6650
%
0.6650
%
0.61750
%
Fund net assets greater than $7.5 billion up to and including $10 billion
0.6475
%
0.6475
%
0.6475
%
0.60125
%
Fund net assets greater than $10 billion
0.6300
%
0.6300
%
0.6300
%
0.58500
%
Prior to November 1, 2022, the Funds paid First Trust an annual unitary management fee based on each Fund’s average daily net assets at the following rates:
 
% of Daily
Net Assets
First Trust Alerian Disruptive Technology Real Estate ETF
0.60
%
First Trust Alerian U.S. NextGen Infrastructure ETF
0.65
%
First Trust Indxx Global Natural Resources Income ETF
0.70
%
First Trust Indxx Global Agriculture ETF
0.70
%
First Trust Indxx NextG ETF
0.70
%
First Trust S-Network Future Vehicles & Technology ETF
0.70
%
First Trust Cloud Computing ETF
0.60
%
First Trust International Equity Opportunities ETF
0.70
%
First Trust Nasdaq Cybersecurity ETF
0.60
%
First Trust IPOX® Europe Equity Opportunities ETF
0.70
%
First Trust Dow Jones International Internet ETF
0.65
%
Effective November 1, 2022, for the First Trust STOXX® European Select Dividend Index Fund, First Trust Dow Jones Global Select Dividend Index Fund, First Trust Global Wind Energy ETF, and First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund (such Funds, the “Expense Cap Funds”), First Trust is paid an annual management fee based on a percentage of each Fund’s average daily net assets and calculated pursuant to the schedule below:
Page 115

Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 
Breakpoints
 
Fund net assets up to and including $2.5 billion
0.40
%
Fund net assets greater than $2.5 billion up to and including $5 billion
0.39
%
Fund net assets greater than $5 billion up to and including $7.5 billion
0.38
%
Fund net assets greater than $7.5 billion up to and including $10 billion
0.37
%
Fund net assets greater than $10 billion
0.36
%
Prior to November 1, 2022, First Trust was paid an annual management fee of 0.40% of each Fund’s average daily net assets.
For the Expense Cap Funds, the Trust and First Trust have entered into an Expense Reimbursement, Fee Waiver and Recovery Agreement (“Recovery Agreement”) in which First Trust has agreed to waive fees and/or reimburse Fund expenses to the extent that the operating expenses of each such Fund (excluding interest expense, brokerage commissions and other trading expenses, acquired fund fees and expenses, taxes and extraordinary expenses) exceed the following amount as a percentage of average daily net assets per year (the “Expense Cap”) at least through January 31, 2025.
 
Expense Cap
First Trust STOXX® European Select Dividend Index Fund
0.60
%
First Trust Dow Jones Global Select Dividend Index Fund
0.60
%
First Trust Global Wind Energy ETF
0.60
%
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund
0.70
%
Prior to November 1, 2022, expenses reimbursed and fees waived by First Trust under the Recovery Agreement were subject to recovery by First Trust for up to three years from the date the fee or expense was incurred, but no reimbursement payment would be made by a Fund if it resulted in the Fund’s expenses exceeding (i) the applicable expense limitation in place for the most recent fiscal year for which such expense limitation was in place, (ii) the applicable expense limitation in place at the time the fees were waived, or (iii) the current expense limitation. These amounts would be included in “Expenses previously waived or reimbursed” on the Statements of Operations. First Trust did not recover expenses from any Funds during the fiscal year ended September 30, 2023. Effective November 1, 2022, in connection with the introduction of breakpoints discussed above, First Trust has agreed to remove its ability to recover previous expenses borne and fees waived under the Recovery Agreement.
The Trust has multiple service agreements with BNYM. Under the service agreements, BNYM performs custodial, fund accounting, certain administrative services, and transfer agency services for each Fund. As custodian, BNYM is responsible for custody of each Fund’s assets. As fund accountant and administrator, BNYM is responsible for maintaining the books and records of each Fund’s securities and cash. As transfer agent, BNYM is responsible for maintaining shareholder records for each Fund. BNYM is a subsidiary of The Bank of New York Mellon Corporation, a financial holding company.
Each Trustee who is not an officer or employee of First Trust, any sub-advisor or any of their affiliates (“Independent Trustees”) is paid a fixed annual retainer that is allocated equally among each fund in the First Trust Fund Complex. Each Independent Trustee is also paid an annual per fund fee that varies based on whether the fund is a closed-end or other actively managed fund, a target outcome fund or an index fund.
Additionally, the Lead Independent Trustee and the Chairs of the Audit Committee, Nominating and Governance Committee and Valuation Committee are paid annual fees to serve in such capacities, with such compensation allocated pro rata among each fund in the First Trust Fund Complex based on net assets. Independent Trustees are reimbursed for travel and out-of-pocket expenses in connection with all meetings. The Lead Independent Trustee and Committee Chairs rotate every three years. The officers and “Interested” Trustee receive no compensation from the Trust for acting in such capacities.
4. Purchases and Sales of Securities
For the fiscal year ended September 30, 2023, the cost of purchases and proceeds from sales of investments for each Fund, excluding short-term investments and in-kind transactions, were as follows:
 
Purchases
Sales
First Trust STOXX® European Select Dividend Index Fund
$87,764,807
$87,407,437
First Trust Alerian Disruptive Technology Real Estate ETF
9,623,121
9,568,091
First Trust Dow Jones Global Select Dividend Index Fund
275,415,402
246,666,769
Page 116

Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 
 
Purchases
Sales
First Trust Global Wind Energy ETF
$66,970,623
$65,557,843
First Trust Alerian U.S. NextGen Infrastructure ETF
2,458,452
2,439,191
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund
205,268,543
179,825,415
First Trust Indxx Global Natural Resources Income ETF
210,395,233
209,145,805
First Trust Indxx Global Agriculture ETF
2,685,832
4,278,114
First Trust Indxx NextG ETF
63,289,388
93,200,217
First Trust S-Network Future Vehicles & Technology ETF
16,753,565
17,701,463
First Trust Cloud Computing ETF
950,276,042
943,997,599
First Trust International Equity Opportunities ETF
316,937,408
343,417,811
First Trust Nasdaq Cybersecurity ETF
1,455,471,600
1,440,731,428
First Trust IPOX® Europe Equity Opportunities ETF
6,526,411
6,514,780
First Trust Dow Jones International Internet ETF
19,434,191
19,344,883
For the fiscal year ended September 30, 2023, the cost of in-kind purchases and proceeds from in-kind sales for each Fund were as follows:
 
Purchases
Sales
First Trust STOXX® European Select Dividend Index Fund
$18,002,835
$23,509,311
First Trust Alerian Disruptive Technology Real Estate ETF
3,967,797
First Trust Dow Jones Global Select Dividend Index Fund
135,094,900
64,553,178
First Trust Global Wind Energy ETF
16,856,490
50,645,513
First Trust Alerian U.S. NextGen Infrastructure ETF
2,145,764
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund
470,429,377
113,637,426
First Trust Indxx Global Natural Resources Income ETF
91,312,151
62,148,802
First Trust Indxx Global Agriculture ETF
8,376,868
First Trust Indxx NextG ETF
20,679,712
174,661,227
First Trust S-Network Future Vehicles & Technology ETF
10,052,530
18,096,385
First Trust Cloud Computing ETF
140,843,105
1,070,375,159
First Trust International Equity Opportunities ETF
153,123,326
First Trust Nasdaq Cybersecurity ETF
126,155,449
665,107,548
First Trust IPOX® Europe Equity Opportunities ETF
2,154,160
First Trust Dow Jones International Internet ETF
3,814,002
9,780,631
5. Creations, Redemptions and Transaction Fees
Each Fund generally issues and redeems its shares in primary market transactions through a creation and redemption mechanism and does not sell or redeem individual shares. Instead, financial entities known as “Authorized Participants” have contractual arrangements with a Fund or one of the Fund’s service providers to purchase and redeem Fund shares directly with the Fund in large blocks of shares known as “Creation Units.” Prior to the start of trading on every business day, a Fund publishes through the National Securities Clearing Corporation the “basket” of securities, cash or other assets that it will accept in exchange for a Creation Unit of the Fund’s shares. An Authorized Participant that wishes to effectuate a creation of a Fund’s shares deposits with the Fund the “basket” of securities, cash or other assets identified by the Fund that day, and then receives the Creation Unit of the Fund’s shares in return for those assets. After purchasing a Creation Unit, the Authorized Participant may continue to hold the Fund’s shares or sell them in the secondary market. The redemption process is the reverse of the purchase process:the Authorized Participant redeems a Creation Unit of a Fund’s shares for a basket of securities, cash or other assets. The combination of the creation and redemption process with secondary market trading in a Fund’s shares and underlying securities provides arbitrage opportunities that are designed to help keep the market price of a Fund’s shares at or close to the NAV per share of the Fund.
Each Fund imposes fees in connection with the purchase of Creation Units. These fees may vary based upon various fact-based circumstances, including, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the transactions are settled. The price for each Creation Unit will equal the daily NAV per share of a Fund times the number of shares in a Creation Unit, plus the fees described above and, if applicable, any operational processing and brokerage costs, transfer fees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising the creation basket.
Page 117

Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 
Each Fund also imposes fees in connection with the redemption of Creation Units. These fees may vary based upon various fact-based circumstances, including, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the transactions are settled. The price received for each Creation Unit will equal the daily NAV per share of a Fund times the number of shares in a Creation Unit, minus the fees described above and, if applicable, any operational processing and brokerage costs, transfer fees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising the redemption basket. Investors who use the services of a broker or other such intermediary in addition to an Authorized Participant to effect a redemption of a Creation Unit may also be assessed an amount to cover the cost of such services. The redemption fee charged by a Fund will comply with Rule 22c-2 of the 1940 Act which limits redemption fees to no more than 2% of the value of the shares redeemed.
6. Distribution Plan
The Board of Trustees adopted a Distribution and Service Plan pursuant to Rule 12b-1 under the 1940 Act. In accordance with the Rule 12b-1 plan, the Funds are authorized to pay an amount up to 0.25% of their average daily net assets each year to reimburse First Trust Portfolios L.P. (“FTP”), the distributor of the Funds, for amounts expended to finance activities primarily intended to result in the sale of Creation Units or the provision of investor services. FTP may also use this amount to compensate securities dealers or other persons that are Authorized Participants for providing distribution assistance, including broker-dealer and shareholder support and educational and promotional services.
No 12b-1 fees are currently paid by the Funds, and pursuant to a contractual arrangement, no 12b-1 fees will be paid any time before January 31, 2025.
7. Indemnification
The Trust, on behalf of the Funds, has a variety of indemnification obligations under contracts with its service providers. The Trust’s maximum exposure under these arrangements is unknown. However, the Trust has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.
8. Subsequent Events
Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were issued and has determined that there were no subsequent events requiring recognition or disclosure in the financial statements that have not already been disclosed.
Page 118

Report of Independent Registered Public Accounting Firm
To the Shareholders and Board of Trustees of First Trust Exchange-Traded Fund II:
Opinion on the Financial Statements and Financial Highlights
We have audited the accompanying statements of assets and liabilities of First Trust STOXX® European Select Dividend Index Fund, First Trust Alerian Disruptive Technology Real Estate ETF, First Trust Dow Jones Global Select Dividend Index Fund, First Trust Global Wind Energy ETF, First Trust Alerian U.S. NextGen Infrastructure ETF, First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund, First Trust Indxx Global Natural Resources Income ETF, First Trust Indxx Global Agriculture ETF, First Trust Indxx NextG ETF, First Trust S-Network Future Vehicles & Technology ETF, First Trust Cloud Computing ETF, First Trust International Equity Opportunities ETF, First Trust Nasdaq Cybersecurity ETF, First Trust IPOX® Europe Equity Opportunities ETF, and First Trust Dow Jones International Internet ETF (the “Funds”), each a series of the First Trust Exchange-Traded Fund II, including the portfolios of investments, as of September 30, 2023, the related statements of operations for the year then ended, the statement of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the periods listed in the table below; and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Funds as of September 30, 2023, and the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for the periods listed in the table below, in conformity with accounting principles generally accepted in the United States of America.
Individual Funds
Included in the Trust
Financial Highlights
First Trust STOXX® European Select
Dividend Index Fund
For the years ended September 30, 2023, 2022, 2021, 2020 and 2019
First Trust Alerian Disruptive Technology
Real Estate ETF
First Trust Dow Jones Global Select Dividend
Index Fund
First Trust Global Wind Energy ETF
First Trust Alerian U.S. NextGen
Infrastructure ETF
First Trust NASDAQ® Clean Edge® Smart
Grid Infrastructure Index Fund
First Trust Indxx Global Natural Resources
Income ETF
First Trust Indxx Global Agriculture ETF
First Trust Indxx NextG ETF
First Trust S-Network Future Vehicles &
Technology ETF
First Trust Cloud Computing ETF
First Trust International Equity Opportunities
ETF
First Trust Nasdaq Cybersecurity ETF
First Trust IPOX® Europe Equity
Opportunities ETF
For the years ended September 30, 2023, 2022, 2021, 2020 and for the period from
October 4, 2018 (commencement of investment operations) through September 30,
2019
First Trust Dow Jones International Internet
ETF
For the years ended September 30, 2023, 2022, 2021, 2020 and for the period from
November 5, 2018 (commencement of investment operations) through
September 30, 2019
Basis for Opinion
These financial statements and financial highlights are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements and financial highlights based on our audits. We are a public accounting firm registered
Page 119

Report of Independent Registered Public Accounting Firm (Continued)
with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of September 30, 2023, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche, LLP

Chicago, Illinois
November 21, 2023
We have served as the auditor of one or more First Trust investment companies since 2001.
Page 120

Additional Information
First Trust Exchange-Traded Fund II
September 30, 2023 (Unaudited)
Proxy Voting Policies and Procedures
A description of the policies and procedures that the Trust uses to determine how to vote proxies and information on how each Fund voted proxies relating to its portfolio securities during the most recent 12-month period ended June 30 is available (1) without charge, upon request, by calling (800) 988-5891; (2) on each Fund’s website at www.ftportfolios.com; and (3) on the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.
Portfolio Holdings
Each Fund files portfolio holdings information for each month in a fiscal quarter within 60 days after the end of the relevant fiscal quarter on Form N-PORT. Portfolio holdings information for the third month of each fiscal quarter will be publicly available on the SEC’s website at www.sec.gov. Each Fund’s complete schedule of portfolio holdings for the second and fourth quarters of each fiscal year is included in the semi-annual and annual reports to shareholders, respectively, and is filed with the SEC on Form N-CSR. The semi-annual and annual report for each Fund is available to investors within 60 days after the period to which it relates. Each Fund’s Forms N-PORT and Forms N-CSR are available on the SEC’s website listed above.
Federal Tax Information
For the taxable year ended September 30, 2023, the following percentages of income dividend paid by the Funds qualify for the dividends received deduction available to corporations:
 
Dividends Received
Deduction
First Trust STOXX® European Select Dividend Index Fund
0.00
%
First Trust Alerian Disruptive Technology Real Estate ETF
0.00
%
First Trust Dow Jones Global Select Dividend Index Fund
7.77
%
First Trust Global Wind Energy ETF
14.56
%
First Trust Alerian U.S. NextGen Infrastructure ETF
100.00
%
First Trust NASDAQ® Clean Edge® Smart Grid
Infrastructure Index Fund
21.97
%
First Trust Indxx Global Natural Resources Income ETF
12.71
%
First Trust Indxx Global Agriculture ETF
16.38
%
First Trust Indxx NextG ETF
20.37
%
First Trust S-Network Future Vehicles & Technology ETF
38.16
%
First Trust Cloud Computing ETF
0.00
%
First Trust International Equity Opportunities ETF
0.00
%
First Trust Nasdaq Cybersecurity ETF
100.00
%
First Trust IPOX® Europe Equity Opportunities ETF
0.00
%
First Trust Dow Jones International Internet ETF
0.00
%
For the taxable year ended September 30, 2023, the following percentages of income dividend paid by the Funds are hereby designated as qualified dividend income:
 
Qualified Dividend
Income
First Trust STOXX® European Select Dividend Index Fund
100.00
%
First Trust Alerian Disruptive Technology Real Estate ETF
6.08
%
First Trust Dow Jones Global Select Dividend Index Fund
100.00
%
First Trust Global Wind Energy ETF
100.00
%
First Trust Alerian U.S. NextGen Infrastructure ETF
100.00
%
First Trust NASDAQ® Clean Edge® Smart Grid
Infrastructure Index Fund
100.00
%
First Trust Indxx Global Natural Resources Income ETF
100.00
%
First Trust Indxx Global Agriculture ETF
100.00
%
First Trust Indxx NextG ETF
86.76
%
First Trust S-Network Future Vehicles & Technology ETF
100.00
%
Page 121

Additional Information (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 (Unaudited)
 
Qualified Dividend
Income
First Trust Cloud Computing ETF
0.00
%
First Trust International Equity Opportunities ETF
100.00
%
First Trust Nasdaq Cybersecurity ETF
100.00
%
First Trust IPOX® Europe Equity Opportunities ETF
91.41
%
First Trust Dow Jones International Internet ETF
37.28
%
A portion of each of the Funds’ 2023 ordinary dividends (including short-term capital gains) paid to its shareholders during the fiscal year ended September 30, 2023, may be eligible for the Qualified Business Income Deduction (QBI) under the Internal Revenue Code of 1986, as amended (the “Code”), Section 199A for the aggregate dividends each Fund received from the underlying Real Estate Investment Trusts (REITs) these Funds invest in.
The following Funds meet the requirements of Section 853 of the Code and elect to pass through to their shareholders credit for foreign taxes paid. For the taxable year ended September 30, 2023, the total amounts of income received by the Funds from sources within foreign countries and possessions of the United States and of taxes paid to such countries are as follows:
 
Gross Foreign Income
Foreign Taxes Paid
 
Amount
Per Share
Amount
Per Share
First Trust STOXX® European Select Dividend Index Fund
$15,410,908
$0.94
$1,808,986
$0.11
First Trust Dow Jones Global Select Dividend Index Fund
48,468,431
1.58
5,685,051
0.19
First Trust Global Wind Energy ETF
5,239,034
0.37
624,405
0.04
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure
Index Fund
10,129,001
0.93
910,197
0.08
First Trust Indxx Global Natural Resources Income ETF
15,550,051
0.85
779,364
0.04
First Trust Indxx Global Agriculture ETF
632,990
1.29
90,240
0.18
First Trust Indxx NextG ETF
8,948,163
1.60
1,323,494
0.24
First Trust International Equity Opportunities ETF
2,890,700
0.66
221,161
0.05
First Trust IPOX® Europe Equity Opportunities ETF
127,317
0.64
10,281
0.05
First Trust Dow Jones International Internet ETF
312,379
0.25
3,149
0.00
Risk Considerations
Risks are inherent in all investing. Certain general risks that may be applicable to a Fund are identified below, but not all of the material risks relevant to each Fund are included in this report and not all of the risks below apply to each Fund. The material risks of investing in each Fund are spelled out in its prospectus, statement of additional information and other regulatory filings. Before investing, you should consider each Fund’s investment objective, risks, charges and expenses, and read each Fund’s prospectus and statement of additional information carefully. You can download each Fund’s prospectus at www.ftportfolios.com or contact First Trust Portfolios L.P. at (800) 621-1675 to request a prospectus, which contains this and other information about each Fund.
Concentration Risk. To the extent that a fund is able to invest a significant percentage of its assets in a single asset class or the securities of issuers within the same country, state, region, industry or sector, an adverse economic, business or political development may affect the value of the fund’s investments more than if the fund were more broadly diversified. A fund that tracks an index will be concentrated to the extent the fund’s corresponding index is concentrated. A concentration makes a fund more susceptible to any single occurrence and may subject the fund to greater market risk than a fund that is more broadly diversified.
Credit Risk. Credit risk is the risk that an issuer of a security will be unable or unwilling to make dividend, interest and/or principal payments when due and the related risk that the value of a security may decline because of concerns about the issuer’s ability to make such payments.
Cyber Security Risk. The funds are susceptible to potential operational risks through breaches in cyber security. A breach in cyber security refers to both intentional and unintentional events that may cause a fund to lose proprietary information, suffer data corruption or lose operational capacity. Such events could cause a fund to incur regulatory penalties, reputational damage, additional compliance costs associated with corrective measures and/or financial loss. In addition, cyber security breaches of a fund’s third-party service
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Additional Information (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 (Unaudited)
providers, such as its administrator, transfer agent, custodian, or sub-advisor, as applicable, or issuers in which the fund invests, can also subject a fund to many of the same risks associated with direct cyber security breaches.
Defined Outcome Funds Risk. To the extent a fund’s investment strategy is designed to deliver returns tied to the price performance of an underlying ETF, an investor may not realize the returns the fund seeks to achieve if that investor does not hold shares for the entire target outcome period. In the event an investor purchases shares after the first day of the target outcome period or sells shares prior to the end of the target outcome period, the buffer that the fund seeks to provide against a decline in the value of the underlying ETF may not be available, the enhanced returns that the fund seeks to provide (if any) may not be available and the investor may not participate in a gain in the value of the underlying ETF up to the cap for the investor’s investment period. Additionally, the fund will not participate in gains of the underlying ETF above the cap and a shareholder may lose their entire investment. If the fund seeks enhanced returns, there are certain time periods when the value of the fund may fall faster than the value of the underlying ETF, and it is very unlikely that, on any given day during which the underlying ETF share price increases in value, the fund’s share price will increase at the same rate as the enhanced returns sought by the fund, which is designed for an entire target outcome period. Trading flexible exchange options involves risks different from, or possibly greater than, the risks associated with investing directly in securities, such as less liquidity and correlation and valuation risks. A fund may experience substantial downside from specific flexible exchange option positions and certain positions may expire worthless.
Derivatives Risk. To the extent a fund uses derivative instruments such as futures contracts, options contracts and swaps, the fund may experience losses because of adverse movements in the price or value of the underlying asset, index or rate, which may be magnified by certain features of the derivative. These risks are heightened when a fund’s portfolio managers use derivatives to enhance the fund’s return or as a substitute for a position or security, rather than solely to hedge (or offset) the risk of a position or security held by the fund.
Equity Securities Risk. To the extent a fund invests in equity securities, the value of the fund’s shares will fluctuate with changes in the value of the equity securities. Equity securities prices fluctuate for several reasons, including changes in investors’ perceptions of the financial condition of an issuer or the general condition of the relevant stock market, such as market volatility, or when political or economic events affecting the issuers occur. In addition, common stock prices may be particularly sensitive to rising interest rates, as the cost of capital rises and borrowing costs increase. Equity securities may decline significantly in price over short or extended periods of time, and such declines may occur in the equity market as a whole, or they may occur in only a particular country, company, industry or sector of the market.
ETF Risk. The shares of an ETF trade like common stock and represent an interest in a portfolio of securities. The risks of owning an ETF generally reflect the risks of owning the underlying securities, although lack of liquidity in an ETF could result in it being more volatile and ETFs have management fees that increase their costs. Shares of an ETF trade on an exchange at market prices rather than net asset value, which may cause the shares to trade at a price greater than net asset value (premium) or less than net asset value (discount). In times of market stress, decisions by market makers to reduce or step away from their role of providing a market for an ETF’s shares, or decisions by an ETF’s authorized participants that they are unable or unwilling to proceed with creation and/or redemption orders of an ETF’s shares, could result in shares of the ETF trading at a discount to net asset value and in greater than normal intraday bid-ask spreads.
Fixed Income Securities Risk. To the extent a fund invests in fixed income securities, the fund will be subject to credit risk, income risk, interest rate risk, liquidity risk and prepayment risk. Income risk is the risk that income from a fund’s fixed income investments could decline during periods of falling interest rates. Interest rate risk is the risk that the value of a fund’s fixed income securities will decline because of rising interest rates. Liquidity risk is the risk that a security cannot be purchased or sold at the time desired, or cannot be purchased or sold without adversely affecting the price. Prepayment risk is the risk that the securities will be redeemed or prepaid by the issuer, resulting in lower interest payments received by the fund. In addition to these risks, high yield securities, or “junk” bonds, are subject to greater market fluctuations and risk of loss than securities with higher ratings, and the market for high yield securities is generally smaller and less liquid than that for investment grade securities.
Index or Model Constituent Risk. Certain funds may be a constituent of one or more indices or ETF models. As a result, such a fund may be included in one or more index-tracking exchange-traded funds or mutual funds. Being a component security of such a vehicle could greatly affect the trading activity involving a fund, the size of the fund and the market volatility of the fund. Inclusion in an index could increase demand for the fund and removal from an index could result in outsized selling activity in a relatively short
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Additional Information (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 (Unaudited)
period of time. As a result, a fund’s net asset value could be negatively impacted and the fund’s market price may be significantly below its net asset value during certain periods. In addition, index rebalances may potentially result in increased trading activity in a fund’s shares.
Index Provider Risk. To the extent a fund seeks to track an index, it is subject to Index Provider Risk. There is no assurance that the Index Provider will compile the Index accurately, or that the Index will be determined, maintained, constructed, reconstituted, rebalanced, composed, calculated or disseminated accurately. To correct any such error, the Index Provider may carry out an unscheduled rebalance or other modification of the Index constituents or weightings, which may increase the fund’s costs. The Index Provider does not provide any representation or warranty in relation to the quality, accuracy or completeness of data in the Index, and it does not guarantee that the Index will be calculated in accordance with its stated methodology. Losses or costs associated with any Index Provider errors generally will be borne by the fund and its shareholders.
Investment Companies Risk. To the extent a fund invests in the securities of other investment vehicles, the fund will incur additional fees and expenses that would not be present in a direct investment in those investment vehicles. Furthermore, the fund’s investment performance and risks are directly related to the investment performance and risks of the investment vehicles in which the fund invests.
LIBOR Risk. To the extent a fund invests in floating or variable rate obligations that use the London Interbank Offered Rate (“LIBOR”) as a reference interest rate, it is subject to LIBOR Risk. The United Kingdom’s Financial Conduct Authority, which regulates LIBOR, has ceased making LIBOR available as a reference rate over a phase-out period that began December 31, 2021. There is no assurance that any alternative reference rate, including the Secured Overnight Financing Rate (“SOFR”) will be similar to or produce the same value or economic equivalence as LIBOR or that instruments using an alternative rate will have the same volume or liquidity. The unavailability or replacement of LIBOR may affect the value, liquidity or return on certain fund investments and may result in costs incurred in connection with closing out positions and entering into new trades. Any potential effects of the transition away from LIBOR on the fund or on certain instruments in which the fund invests can be difficult to ascertain, and they may vary depending on a variety of factors, and they could result in losses to the fund.
Management Risk. To the extent that a fund is actively managed, it is subject to management risk. In managing an actively-managed fund’s investment portfolio, the fund’s portfolio managers will apply investment techniques and risk analyses that may not have the desired result. There can be no guarantee that a fund will meet its investment objective.
Market Risk. Market risk is the risk that a particular security, or shares of a fund in general, may fall in value. Securities held by a fund, as well as shares of a fund itself, are subject to market fluctuations caused by factors such as general economic conditions, political events, regulatory or market developments, changes in interest rates and perceived trends in securities prices. Shares of a fund could decline in value or underperform other investments as a result of the risk of loss associated with these market fluctuations. In addition, local, regional or global events such as war, acts of terrorism, spread of infectious diseases or other public health issues, recessions, or other events could have a significant negative impact on a fund and its investments. Such events may affect certain geographic regions, countries, sectors and industries more significantly than others. In February 2022, Russia invaded Ukraine which has caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain fund investments as well as fund performance. The COVID-19 global pandemic and the ensuing policies enacted by governments and central banks have caused and may continue to cause significant volatility and uncertainty in global financial markets. While the U.S. has resumed “reasonably” normal business activity, many countries continue to impose lockdown measures. Additionally, there is no guarantee that vaccines will be effective against emerging variants of the disease. These events also adversely affect the prices and liquidity of a fund’s portfolio securities or other instruments and could result in disruptions in the trading markets. Any of such circumstances could have a materially negative impact on the value of a fund’s shares and result in increased market volatility. During any such events, a fund’s shares may trade at increased premiums or discounts to their net asset value and the bid/ask spread on a fund’s shares may widen.
Non-U.S. Securities Risk. To the extent a fund invests in non-U.S. securities, it is subject to additional risks not associated with securities of domestic issuers. Non-U.S. securities are subject to higher volatility than securities of domestic issuers due to:possible adverse political, social or economic developments; restrictions on foreign investment or exchange of securities; capital controls; lack of liquidity; currency exchange rates; excessive taxation; government seizure of assets; the imposition of sanctions by foreign governments; different legal or accounting standards; and less government supervision and regulation of exchanges in foreign countries. Investments in non-U.S. securities may involve higher costs than investments in U.S. securities, including higher transaction
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Additional Information (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 (Unaudited)
and custody costs, as well as additional taxes imposed by non-U.S. governments. These risks may be heightened for securities of companies located, or with significant operations, in emerging market countries.
Operational Risk. Each fund is subject to risks arising from various operational factors, including, but not limited to, human error, processing and communication errors, errors of a fund’s service providers, counterparties or other third-parties, failed or inadequate processes and technology or systems failures. Each fund relies on third-parties for a range of services, including custody. Any delay or failure relating to engaging or maintaining such service providers may affect a fund’s ability to meet its investment objective. Although the funds and the funds’ investment advisor seek to reduce these operational risks through controls and procedures, there is no way to completely protect against such risks.
Passive Investment Risk. To the extent a fund seeks to track an index, the fund will invest in the securities included in, or representative of, the index regardless of their investment merit. A fund generally will not attempt to take defensive positions in declining markets.
Preferred Securities Risk. Preferred securities combine some of the characteristics of both common stocks and bonds. Preferred securities are typically subordinated to bonds and other debt securities in a company’s capital structure in terms of priority to corporate income, subjecting them to greater credit risk than those debt securities. Generally, holders of preferred securities have no voting rights with respect to the issuing company unless preferred dividends have been in arrears for a specified number of periods, at which time the preferred security holders may obtain limited rights. In certain circumstances, an issuer of preferred securities may defer payment on the securities and, in some cases, redeem the securities prior to a specified date. Preferred securities may also be substantially less liquid than other securities, including common stock.
Valuation Risk. The valuation of certain securities may carry more risk than that of common stock. Uncertainties in the conditions of the financial markets, unreliable reference data, lack of transparency and inconsistency of valuation models and processes may lead to inaccurate asset pricing. A fund may hold investments in sizes smaller than institutionally sized round lot positions (sometimes referred to as odd lots). However, third-party pricing services generally provide evaluations on the basis of institutionally-sized round lots. If a fund sells certain of its investments in an odd lot transaction, the sale price may be less than the value at which such securities have been held by the fund. Odd lots often trade at lower prices than institutional round lots. There is no assurance that the fund will be able to sell a portfolio security at the price established by the pricing service, which could result in a loss to the fund.
NOT FDIC INSUREDNOT BANK GUARANTEEDMAY LOSE VALUE
Advisory Agreements
Board Considerations Regarding Approval of the Continuation of the Investment Management Agreements
(Unitary Fee Funds)
The Board of Trustees of First Trust Exchange-Traded Fund II (the “Trust”), including the Independent Trustees, unanimously approved the continuation of the Investment Management Agreements (as applicable to a specific Fund, the “Agreement” and collectively, the “Agreements”) with First Trust Advisors L.P. (the “Advisor”) on behalf of the following eight series of the Trust (each a “Fund” and collectively, the “Funds”):
First Trust Alerian Disruptive Technology Real Estate ETF (DTRE)
First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD)
First Trust Indxx Global Natural Resources Income ETF (FTRI)
First Trust Indxx Global Agriculture ETF (FTAG)
First Trust Indxx NextG ETF (NXTG)
First Trust S-Network Future Vehicles & Technology ETF (CARZ)
First Trust Cloud Computing ETF (SKYY)
First Trust International Equity Opportunities ETF (FPXI)
First Trust Nasdaq Cybersecurity ETF (CIBR)
First Trust IPOX® Europe Equity Opportunities ETF (FPXE)
First Trust Dow Jones International Internet ETF (FDNI)
Page 125

Additional Information (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 (Unaudited)
The Board approved the continuation of the Agreement for each Fund for a one-year period ending June 30, 2024 at a meeting held on June 4–5, 2023.  The Board determined for each Fund that the continuation of the Agreement is in the best interests of the Fund in light of the nature, extent and quality of the services provided and such other matters as the Board considered to be relevant in the exercise of its business judgment.
To reach this determination for each Fund, the Board considered its duties under the Investment Company Act of 1940, as amended (the “1940 Act”), as well as under the general principles of state law, in reviewing and approving advisory contracts; the requirements of the 1940 Act in such matters; the fiduciary duty of investment advisors with respect to advisory agreements and compensation; the standards used by courts in determining whether investment company boards have fulfilled their duties; and the factors to be considered by the Board in voting on such agreements.  At meetings held on April 17, 2023 and June 4–5, 2023, the Board, including the Independent Trustees, reviewed materials provided by the Advisor responding to requests for information from counsel to the Independent Trustees, submitted on behalf of the Independent Trustees, that, among other things, outlined:  the services provided by the Advisor to each Fund (including the relevant personnel responsible for these services and their experience); the unitary fee rate schedule payable by each Fund as compared to fees charged to a peer group of funds (the “Expense Group”) and a broad peer universe of funds (the “Expense Universe”), each assembled by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent source, and as compared to fees charged to other clients of the Advisor, including other exchange-traded funds (“ETFs”) managed by the Advisor; the expense ratio of each Fund as compared to expense ratios of the funds in the Fund’s Expense Group and Expense Universe; performance information for each Fund, including comparisons of each Fund’s performance to that of one or more relevant benchmark indexes and to that of a performance group of funds and a broad performance universe of funds (the “Performance Universe”), each assembled by Broadridge; the nature of expenses incurred in providing services to each Fund and the potential for the Advisor to realize economies of scale, if any; profitability and other financial data for the Advisor; any indirect benefits to the Advisor and its affiliate, First Trust Portfolios L.P. (“FTP”); and information on the Advisor’s compliance program.  The Board reviewed initial materials with the Advisor at the meeting held on April 17, 2023, prior to which the Independent Trustees and their counsel met separately to discuss the information provided by the Advisor.  Following the April meeting, counsel to the Independent Trustees, on behalf of the Independent Trustees, requested certain clarifications and supplements to the materials provided, and the information provided in response to those requests was considered at an executive session of the Independent Trustees and their counsel held prior to the June 4–5, 2023 meeting, as well as at the June meeting.  The Board applied its business judgment to determine whether the arrangement between the Trust and the Advisor continues to be a reasonable business arrangement from each Fund’s perspective.  The Board determined that, given the totality of the information provided with respect to the Agreements, the Board had received sufficient information to renew the Agreements.  The Board considered that shareholders chose to invest or remain invested in a Fund knowing that the Advisor manages the Fund and knowing the Fund’s unitary fee.
In reviewing the Agreement for each Fund, the Board considered the nature, extent and quality of the services provided by the Advisor under the Agreement.  The Board considered that the Advisor is responsible for the overall management and administration of the Trust and each Fund and reviewed all of the services provided by the Advisor to the Funds, as well as the background and experience of the persons responsible for such services.  In reviewing the services provided, the Board noted the compliance program that had been developed by the Advisor and considered that it includes a robust program for monitoring the Advisor’s and each Fund’s compliance with the 1940 Act, as well as each Fund’s compliance with its investment objective, policies and restrictions.  The Board also considered a report from the Advisor with respect to its risk management functions related to the operation of the Funds.  Finally, as part of the Board’s consideration of the Advisor’s services, the Advisor, in its written materials and at the April 17, 2023 meeting, described to the Board the scope of its ongoing investment in additional personnel and infrastructure to maintain and improve the quality of services provided to the Funds and the other funds in the First Trust Fund Complex.  In light of the information presented and the considerations made, the Board concluded that the nature, extent and quality of the services provided to the Trust and each Fund by the Advisor under the Agreements have been and are expected to remain satisfactory and that the Advisor has managed each Fund consistent with its investment objective, policies and restrictions.
The Board considered the unitary fee rate schedule payable by each Fund under the applicable Agreement for the services provided.  The Board considered that as part of the unitary fee the Advisor is responsible for each Fund’s expenses, including the cost of transfer agency, custody, fund administration, legal, audit and other services and license fees, if any, but excluding the fee payment under the applicable Agreement and interest, taxes, brokerage commissions and other expenses connected with the execution of portfolio transactions, distribution and service fees pursuant to a Rule 12b-1 plan, if any, and extraordinary expenses, if any.  The Board received and reviewed information showing the fee rates and expense ratios of the peer funds in the Expense Groups, as well as advisory and unitary fee rates charged by the Advisor to other fund (including ETFs) and non-fund clients, as applicable.  Because each Fund pays a unitary fee, the Board determined that expense ratios were the most relevant comparative data point.  Based on the information provided, the Board noted that the total (net) expense ratio of FPXE was below the median total (net) expense ratio of the
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Additional Information (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 (Unaudited)
peer funds in its respective Expense Group and that the total (net) expense ratio of each other Fund was above the median total (net) expense ratio of the peer funds in its respective Expense Group.  With respect to the Expense Groups, the Board, at the April 17, 2023 meeting, discussed with Broadridge its methodology for assembling peer groups and discussed with the Advisor limitations in creating peer groups for index ETFs, including differences in underlying indexes and index-tracking methodologies that can result in greater management complexities across seemingly comparable ETFs, and different business models that may affect the pricing of services among ETF sponsors.  The Board took these limitations and differences into account in considering the peer data.  With respect to fees charged to other non-ETF clients, the Board considered differences between the Funds and other non-ETF clients that limited their comparability.  With respect to each of DTRE and RBLD, the Board noted that during 2022, shareholders of each Fund approved the adoption of a unitary fee structure for the Fund, and that DTRE began paying a unitary fee on September 29, 2022 and RBLD began paying a unitary fee on August 1, 2022.  In considering the unitary fee rate schedules overall, the Board also considered the Advisor’s statement that it seeks to meet investor needs through innovative and value-added investment solutions and the Advisor’s demonstrated long-term commitment to each Fund and the other funds in the First Trust Fund Complex.
The Board considered performance information for each Fund.  The Board noted the process it has established for monitoring each Fund’s performance and portfolio risk on an ongoing basis, which includes quarterly performance reporting from the Advisor for the Funds.  The Board determined that this process continues to be effective for reviewing each Fund’s performance.  The Board received and reviewed information for periods ended December 31, 2022 regarding the performance of each Fund’s underlying index, the correlation between each Fund’s performance and that of its underlying index, each Fund’s tracking difference and each Fund’s excess return as compared to its benchmark index.  With respect to DTRE, the Board noted that during 2021, it approved changes to the Fund’s investment objective and, effective September 29, 2022, the Fund changed its name and ticker symbol and began tracking the Alerian Disruptive Technology Real Estate Index, and that the performance information included a blend of the old and new indexes.  With respect to RBLD, the Board noted that during 2021, it approved changes to the Fund’s investment objective and, effective August 1, 2022, the Fund changed its name and ticker symbol and began tracking the Alerian U.S. NextGen Infrastructure Index, and that the performance information included a blend of the old and new indexes.  With respect to CARZ, the Board noted that during 2021, it approved changes to the Fund’s investment objective and, effective January 26, 2022, the Fund changed its name and began tracking the S-Network Electric & Future Vehicle Ecosystem Index, and that the performance information included a blend of the old and new indexes.  With respect to NXTG, the Board noted that during 2019, it approved changes to the Fund’s investment objective and, effective May 29, 2019, the Fund changed its name and ticker symbol and began tracking the Indxx 5G & NextG Thematic Index, and that the performance information included a blend of the old and new indexes.  With respect to FTRI and FTAG, the Board noted that during 2015, shareholders of each Fund approved changes to each Fund’s investment objective and, effective December 18, 2015, each Fund changed its name and ticker symbol, FTRI began tracking the Indxx Global Natural Resources Income Index and FTAG began tracking the Indxx Global Agricultural Index, and that the performance information included a blend of the old and new indexes.  Based on the information provided and its ongoing review of performance, the Board concluded that each Fund was correlated to its underlying index and that the tracking difference for each Fund was within a reasonable range.  In addition, the Board reviewed data prepared by Broadridge comparing each Fund’s performance to that of its respective Performance Universe and to that of a broad-based benchmark index and noted the Advisor’s discussion of SKYY’s, FPXI’s and FPXE’s performance at the April 17, 2023 meeting.  However, given each Fund’s objective of seeking investment results that correspond generally to the performance of its underlying index, the Board placed more emphasis on its review of correlation and tracking difference. 
On the basis of all the information provided on the unitary fee and performance of each Fund and the ongoing oversight by the Board, the Board concluded that the unitary fee for each Fund continues to be reasonable and appropriate in light of the nature, extent and quality of the services provided by the Advisor to each Fund under the Agreements.
The Board considered information and discussed with the Advisor whether there were any economies of scale in connection with providing advisory services to the Funds at current asset levels and whether the Funds may benefit from any economies of scale.  The Board noted that the unitary fee rate schedule for each Fund includes breakpoints pursuant to which the unitary fee rate will be reduced as assets of the Fund meet certain thresholds.  The Board considered the Advisor’s statement that it believes that its expenses relating to providing advisory services to the Funds will increase during the next twelve months as the Advisor continues to build infrastructure and add new staff.  The Board also noted that under the unitary fee structure, any reduction in expenses associated with the management and operations of the Funds would benefit the Advisor, but that the unitary fee structure provides a level of certainty in expenses for shareholders of the Funds.  The Board concluded that the unitary fee rate schedule for each Fund reflects an appropriate level of sharing of any economies of scale that may be realized in the management of the Fund at current asset levels.  The Board considered the revenues and allocated costs (including the allocation methodology) of the Advisor in serving as investment advisor to each Fund for the twelve months ended December 31, 2022 and the estimated profitability level for each Fund calculated by the Advisor based on such data, as well as complex-wide and product-line profitability data, for the same period.  The Board noted the
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Additional Information (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 (Unaudited)
inherent limitations in the profitability analysis and concluded that, based on the information provided, the Advisor’s profitability level for each Fund was not unreasonable.  In addition, the Board considered indirect benefits described by the Advisor that may be realized from its relationship with the Funds.  The Board considered that the Advisor had identified as an indirect benefit to the Advisor and FTP their exposure to investors and brokers who, absent their exposure to the Funds, may have had no dealings with the Advisor or FTP, and noted that the Advisor does not utilize soft dollars in connection with the Funds.  The Board concluded that the character and amount of potential indirect benefits to the Advisor were not unreasonable.
Based on all of the information considered and the conclusions reached, the Board, including the Independent Trustees, unanimously determined that the terms of the Agreements continue to be fair and reasonable and that the continuation of the Agreements is in the best interests of each Fund.  No single factor was determinative in the Board’s analysis.
(Non-Unitary Fee Funds)
The Board of Trustees of First Trust Exchange-Traded Fund II (the “Trust”), including the Independent Trustees, unanimously approved the continuation of the Investment Management Agreement (the “Agreement”) with First Trust Advisors L.P. (the “Advisor”) on behalf of the following six series of the Trust (each a “Fund” and collectively, the “Funds”):
First Trust STOXX® European Select Dividend Index Fund (FDD)
First Trust Dow Jones Global Select Dividend Index Fund (FGD)
First Trust Global Wind Energy ETF (FAN)
First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund (GRID)
The Board approved the continuation of the Agreement for each Fund for a one-year period ending June 30, 2024 at a meeting held on June 4–5, 2023.  The Board determined for each Fund that the continuation of the Agreement is in the best interests of the Fund in light of the nature, extent and quality of the services provided and such other matters as the Board considered to be relevant in the exercise of its business judgment.
To reach this determination for each Fund, the Board considered its duties under the Investment Company Act of 1940, as amended (the “1940 Act”), as well as under the general principles of state law, in reviewing and approving advisory contracts; the requirements of the 1940 Act in such matters; the fiduciary duty of investment advisors with respect to advisory agreements and compensation; the standards used by courts in determining whether investment company boards have fulfilled their duties; and the factors to be considered by the Board in voting on such agreements.  At meetings held on April 17, 2023 and June 4–5, 2023, the Board, including the Independent Trustees, reviewed materials provided by the Advisor responding to requests for information from counsel to the Independent Trustees, submitted on behalf of the Independent Trustees, that, among other things, outlined:  the services provided by the Advisor to each Fund (including the relevant personnel responsible for these services and their experience); the advisory fee rate schedule payable by each Fund as compared to fees charged to a peer group of funds (the “Expense Group”) and a broad peer universe of funds (the “Expense Universe”), each assembled by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent source, and as compared to fees charged to other clients of the Advisor, including other exchange-traded funds (“ETFs”) managed by the Advisor; the expense ratio of each Fund as compared to expense ratios of the funds in the Fund’s Expense Group and Expense Universe; performance information for each Fund, including comparisons of each Fund’s performance to that of one or more relevant benchmark indexes and to that of a performance group of funds and a broad performance universe of funds (the “Performance Universe”), each assembled by Broadridge; the nature of expenses incurred in providing services to each Fund and the potential for the Advisor to realize economies of scale, if any; profitability and other financial data for the Advisor; any indirect benefits to the Advisor and its affiliate, First Trust Portfolios L.P. (“FTP”); and information on the Advisor’s compliance program.  The Board reviewed initial materials with the Advisor at the meeting held on April 17, 2023, prior to which the Independent Trustees and their counsel met separately to discuss the information provided by the Advisor.  Following the April meeting, counsel to the Independent Trustees, on behalf of the Independent Trustees, requested certain clarifications and supplements to the materials provided, and the information provided in response to those requests was considered at an executive session of the Independent Trustees and their counsel held prior to the June 4–5, 2023 meeting, as well as at the June meeting.  The Board applied its business judgment to determine whether the arrangement between the Trust and the Advisor continues to be a reasonable business arrangement from each Fund’s perspective.  The Board determined that, given the totality of the information provided with respect to the Agreement, the Board had received sufficient information to renew the Agreement.  The Board considered that shareholders chose to invest or remain invested in a Fund knowing that the Advisor manages the Fund and knowing the Fund’s advisory fee.
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Additional Information (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 (Unaudited)
In reviewing the Agreement for each Fund, the Board considered the nature, extent and quality of the services provided by the Advisor under the Agreement.  The Board considered that the Advisor is responsible for the overall management and administration of the Trust and each Fund and reviewed all of the services provided by the Advisor to the Funds, as well as the background and experience of the persons responsible for such services.  In reviewing the services provided, the Board noted the compliance program that had been developed by the Advisor and considered that it includes a robust program for monitoring the Advisor’s and each Fund’s compliance with the 1940 Act, as well as each Fund’s compliance with its investment objective, policies and restrictions.  The Board also considered a report from the Advisor with respect to its risk management functions related to the operation of the Funds.  Finally, as part of the Board’s consideration of the Advisor’s services, the Advisor, in its written materials and at the April 17, 2023 meeting, described to the Board the scope of its ongoing investment in additional personnel and infrastructure to maintain and improve the quality of services provided to the Funds and the other funds in the First Trust Fund Complex.  In light of the information presented and the considerations made, the Board concluded that the nature, extent and quality of the services provided to the Trust and each Fund by the Advisor under the Agreement have been and are expected to remain satisfactory and that the Advisor has managed each Fund consistent with its investment objective, policies and restrictions.
The Board considered the advisory fee rate schedule payable by each Fund under the Agreement for the services provided.  The Board considered that the Advisor agreed to extend the current expense cap for each Fund through January 31, 2025.  The Board received and reviewed information showing the fee rates and expense ratios of the peer funds in the Expense Groups, as well as advisory and unitary fee rates charged by the Advisor to other fund (including ETFs) and non-fund clients, as applicable.  Because each Fund’s Expense Group included peer funds that pay a unitary fee, the Board determined that expense ratios were the most relevant comparative data point.  Based on the information provided, the Board noted that the total (net) expense ratio of FGD was below the median total (net) expense ratio of the peer funds in its respective Expense Group and that the total (net) expense ratio of each other Fund was above the median total (net) expense ratio of the peer funds in its respective Expense Group.  With respect to the Expense Groups, the Board, at the April 17, 2023 meeting, discussed with Broadridge its methodology for assembling peer groups and discussed with the Advisor limitations in creating peer groups for index ETFs, including differences in underlying indexes and index-tracking methodologies that can result in greater management complexities across seemingly comparable ETFs, and different business models that may affect the pricing of services among ETF sponsors.  The Board took these limitations and differences into account in considering the peer data.  With respect to fees charged to other non-ETF clients, the Board considered differences between the Funds and other non-ETF clients that limited their comparability.  In considering the advisory fee rate schedules overall, the Board also considered the Advisor’s statement that it seeks to meet investor needs through innovative and value-added investment solutions and the Advisor’s demonstrated long-term commitment to each Fund and the other funds in the First Trust Fund Complex.
The Board considered performance information for each Fund.  The Board noted the process it has established for monitoring each Fund’s performance and portfolio risk on an ongoing basis, which includes quarterly performance reporting from the Advisor for the Funds.  The Board determined that this process continues to be effective for reviewing each Fund’s performance.  The Board received and reviewed information for periods ended December 31, 2022 regarding the performance of each Fund’s underlying index, the correlation between each Fund’s performance and that of its underlying index, each Fund’s tracking difference and each Fund’s excess return as compared to its benchmark index.  Based on the information provided and its ongoing review of performance, the Board concluded that each Fund was correlated to its underlying index and that the tracking difference for each Fund was within a reasonable range.  In addition, the Board reviewed data prepared by Broadridge comparing each Fund’s performance to that of its respective Performance Universe and to that of a broad-based benchmark index.  However, given each Fund’s objective of seeking investment results that correspond generally to the performance of its underlying index, the Board placed more emphasis on its review of correlation and tracking difference.
On the basis of all the information provided on the fees, expenses and performance of each Fund and the ongoing oversight by the Board, the Board concluded that the advisory fee for each Fund continues to be reasonable and appropriate in light of the nature, extent and quality of the services provided by the Advisor to each Fund under the Agreement.
The Board considered information and discussed with the Advisor whether there were any economies of scale in connection with providing advisory services to the Funds at current asset levels and whether the Funds may benefit from any economies of scale.  The Board noted that the advisory fee rate schedule for each Fund includes breakpoints pursuant to which the advisory fee rate will be reduced as assets of the Fund meet certain thresholds.  The Board considered the Advisor’s statement that it believes that its expenses relating to providing advisory services to the Funds will increase during the next twelve months as the Advisor continues to build infrastructure and add new staff.  The Board concluded that the advisory fee rate schedule for each Fund reflects an appropriate level of sharing of any economies of scale that may be realized in the management of the Fund at current asset levels.  The Board considered the revenues and allocated costs (including the allocation methodology) of the Advisor in serving as investment advisor to
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Additional Information (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 (Unaudited)
each Fund for the twelve months ended December 31, 2022 and the estimated profitability level for each Fund calculated by the Advisor based on such data, as well as complex-wide and product-line profitability data, for the same period.  The Board noted the inherent limitations in the profitability analysis and concluded that, based on the information provided, the Advisor’s profitability level for each Fund was not unreasonable.  In addition, the Board considered indirect benefits described by the Advisor that may be realized from its relationship with the Funds.  The Board considered that the Advisor had identified as an indirect benefit to the Advisor and FTP their exposure to investors and brokers who, absent their exposure to the Funds, may have had no dealings with the Advisor or FTP, and noted that the Advisor does not utilize soft dollars in connection with the Funds.  The Board concluded that the character and amount of potential indirect benefits to the Advisor were not unreasonable.
Based on all of the information considered and the conclusions reached, the Board, including the Independent Trustees, unanimously determined that the terms of the Agreement continue to be fair and reasonable and that the continuation of the Agreement is in the best interests of each Fund.  No single factor was determinative in the Board’s analysis.
Remuneration
First Trust Advisors L.P. (“First Trust”) is authorised and regulated by the U.S. Securities and Exchange Commission and is entitled to market shares of certain First Trust Exchange-Traded Fund II funds it manages (the “Funds”) in certain member states in the European Economic Area in accordance with the cooperation arrangements in Article 42 of the Alternative Investment Fund Managers Directive (the “Directive”). First Trust is required under the Directive to make disclosures in respect of remuneration. The following disclosures are made in line with First Trust’s interpretation of currently available regulatory guidance on remuneration disclosures.
During the year ended December 31, 2022, the amount of remuneration paid (or to be paid) by First Trust Advisors L.P. in respect of the Funds is $6,121,885. This figure is comprised of $237,324 paid (or to be paid) in fixed compensation and $5,884,561 paid (or to be paid) in variable compensation. There were a total of 24 beneficiaries of the remuneration described above. Those amounts include $3,228,699 paid (or to be paid) to senior management of First Trust Advisors L.P. and $2,893,186 paid (or to be paid) to other employees whose professional activities have a material impact on the risk profiles of First Trust Advisors L.P. or the Funds (collectively, “Code Staff”).
Code Staff included in the aggregated figures disclosed above are rewarded in line with First Trust’s remuneration policy (the “Remuneration Policy”) which is determined and implemented by First Trust’s senior management. The Remuneration Policy reflects First Trust’s ethos of good governance and encapsulates the following principal objectives:
i. 
to provide a clear link between remuneration and performance of First Trust and to avoid rewarding for failure;
ii. 
to promote sound and effective risk management consistent with the risk profiles of the funds managed by First Trust; and
iii. 
to remunerate staff in line with the business strategy, objectives, values and interests of First Trust and the funds managed by First Trust in a manner that avoids conflicts of interest.
First Trust assesses various risk factors which it is exposed to when considering and implementing remuneration for Code Staff and considers whether any potential award to such person(s) would give rise to a conflict of interest. First Trust does not reward failure, or consider the taking of risk or failure to take risk in its remuneration of Code Staff.
First Trust assesses performance for the purposes of determining payments in respect of performance-related remuneration of Code Staff by reference to a broad range of measures including (i) individual performance (using financial and non-financial criteria), and (ii) the overall performance of First Trust. Remuneration is not based upon the performance of the Funds.
The elements of remuneration are balanced between fixed and variable and the senior management sets fixed salaries at a level sufficient to ensure that variable remuneration incentivises and rewards strong individual performance but does not encourage excessive risk taking.
No individual is involved in setting his or her own remuneration.
Liquidity Risk Management Program
In accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the “1940 Act”), the Funds and each other fund in the First Trust Fund Complex, other than the closed-end funds, have adopted and implemented a liquidity risk management
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Additional Information (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 (Unaudited)
program (the “Program”) reasonably designed to assess and manage the funds’ liquidity risk, i.e., the risk that a fund could not meet requests to redeem shares issued by the fund without significant dilution of remaining investors’ interests in the fund. The Board of Trustees of the First Trust Funds has appointed First Trust Advisors, L.P. (the “Advisor”) as the person designated to administer the Program, and in this capacity the Advisor performs its duties primarily through the activities and efforts of the First Trust Liquidity Committee (the “Liquidity Committee”).
Pursuant to the Program, the Liquidity Committee classifies the liquidity of each fund’s portfolio investments into one of the four liquidity categories specified by Rule 22e-4: highly liquid investments, moderately liquid investments, less liquid investments and illiquid investments. The Liquidity Committee determines certain of the inputs for this classification process, including reasonably anticipated trade sizes and significant investor dilution thresholds. The Liquidity Committee also determines and periodically reviews a highly liquid investment minimum for certain funds, monitors the funds’ holdings of assets classified as illiquid investments to seek to ensure they do not exceed 15% of a fund’s net assets and establishes policies and procedures regarding redemptions in kind.
At the April 17, 2023 meeting of the Board of Trustees, as required by Rule 22e-4 and the Program, the Advisor provided the Board with a written report prepared by the Advisor that addressed the operation of the Program during the period from March 17, 2022 through the Liquidity Committee’s annual meeting held on March 23, 2023 and assessed the Program’s adequacy and effectiveness of implementation during this period, including the operation of the highly liquid investment minimum for each fund that is required under the Program to have one, and any material changes to the Program. Note that because the Funds primarily hold assets that are highly liquid investments, the Funds have not adopted any highly liquid investment minimums.
As stated in the written report, during the review period, two funds breached the 15% limitation on illiquid investments for one day each, as a result of an unscheduled week-long closure of the stock exchange in Istanbul following devastating earthquakes in February, causing all Turkish equities to be re-classified as “illiquid” for one day. Each fund filed a Form N-RN on the day after the breach occurred, and one day later after the breach was cured. No fund with a highly liquid investment minimum breached that minimum during the reporting period. The Advisor concluded that each fund’s investment strategy is appropriate for an open-end fund; that the Program operated effectively in all material respects during the review period; and that the Program is reasonably designed to assess and manage the liquidity risk of each fund and to maintain compliance with Rule 22e-4.
Page 131

Board of Trustees and Officers
First Trust Exchange-Traded Fund II
September 30, 2023 (Unaudited)
The following tables identify the Trustees and Officers of the Trust. Unless otherwise indicated, the address of all persons is 120 East Liberty Drive, Suite 400, Wheaton, IL 60187.
The Trust’s statement of additional information includes additional information about the Trustees and is available, without charge, upon request, by calling (800) 988-5891.
Name,
Year of Birth and
Position with the Trust
Term of Office
and Year First
Elected or
Appointed
Principal Occupations
During Past 5 Years
Number of
Portfolios in
the First Trust
Fund Complex
Overseen by
Trustee
Other
Trusteeships or
Directorships
Held by Trustee
During Past
5 Years
INDEPENDENT TRUSTEES
Richard E. Erickson, Trustee
(1951)
• Indefinite Term
• Since Inception
Retired; Physician, Edward-Elmhurst
Medical Group (2021 to September
2023); Physician and Officer,
Wheaton Orthopedics (1990 to 2021)
246
None
Thomas R. Kadlec, Trustee
(1957)
• Indefinite Term
• Since Inception
Retired; President, ADM Investors
Services, Inc. (Futures Commission
Merchant) (2010 to July 2022)
246
Director, National Futures
Association and ADMIS
Singapore Ltd.; Formerly,
Director of ADM Investor
Services, Inc., ADM Investor
Services International,
ADMIS Hong Kong Ltd., and
Futures Industry Association
Denise M. Keefe, Trustee
(1964)
• Indefinite Term
• Since 2021
Executive Vice President, Advocate
Aurora Health and President,
Advocate Aurora Continuing Health
Division (Integrated Healthcare
System)
246
Director and Board Chair of
Advocate Home Health
Services, Advocate Home
Care Products and Advocate
Hospice; Director and Board
Chair of Aurora At Home
(since 2018); Director of
Advocate Physician Partners
Accountable Care
Organization; Director of
RML Long Term Acute Care
Hospitals; Director of Senior
Helpers (since 2021); and
Director of MobileHelp
(since 2022)
Robert F. Keith, Trustee
(1956)
• Indefinite Term
• Since Inception
President, Hibs Enterprises (Financial
and Management Consulting)
246
Formerly, Director of Trust
Company of Illinois
Niel B. Nielson, Trustee
(1954)
• Indefinite Term
• Since Inception
Senior Advisor (2018 to Present),
Managing Director and Chief
Operating Officer (2015 to 2018),
Pelita Harapan Educational
Foundation (Educational Products
and Services)
246
None
Bronwyn Wright, Trustee
(1971)
• Indefinite Term
• Since 2023
Independent Director to a number of
Irish collective investment funds
(2009 to present); Various roles at
international affiliates of Citibank
(1994 to 2009), including Managing
Director, Citibank Europe plc and
Head of Securities and Fund Services,
Citi Ireland (2007 to 2009)
221
None
Page 132

Board of Trustees and Officers (Continued)
First Trust Exchange-Traded Fund II
September 30, 2023 (Unaudited)
Name,
Year of Birth and
Position with the Trust
Term of Office
and Year First
Elected or
Appointed
Principal Occupations
During Past 5 Years
Number of
Portfolios in
the First Trust
Fund Complex
Overseen by
Trustee
Other
Trusteeships or
Directorships
Held by Trustee
During Past
5 Years
INTERESTED TRUSTEE
James A. Bowen(1), Trustee,
Chairman of the Board
(1955)
• Indefinite Term
• Since Inception
Chief Executive Officer, First Trust
Advisors L.P. and First Trust
Portfolios L.P., Chairman of the
Board of Directors, BondWave LLC
(Software Development Company)
and Stonebridge Advisors LLC
(Investment Advisor)
246
None
Name and
Year of Birth
Position and
Offices
with Trust
Term of Office
and Length of
Service
Principal Occupations
During Past 5 Years
OFFICERS(2)
James M. Dykas
(1966)
President and Chief
Executive Officer
• Indefinite Term
• Since Inception
Managing Director and Chief Financial Officer, First Trust
Advisors L.P. and First Trust Portfolios L.P.; Chief Financial
Officer, BondWave LLC (Software Development Company) and
Stonebridge Advisors LLC (Investment Advisor)
Derek D. Maltbie
(1972)
Treasurer, Chief Financial
Officer and Chief
Accounting Officer
• Indefinite Term
• Since 2023
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P., July 2021 to Present. Previously, Vice President,
First Trust Advisors L.P. and First Trust Portfolios L.P., 2014 -
2021.
W. Scott Jardine
(1960)
Secretary and Chief Legal
Officer
• Indefinite Term
• Since Inception
General Counsel, First Trust Advisors L.P. and First Trust
Portfolios L.P.; Secretary and General Counsel, BondWave LLC;
Secretary, Stonebridge Advisors LLC
Daniel J. Lindquist
(1970)
Vice President
• Indefinite Term
• Since Inception
Managing Director, First Trust Advisors L.P. and First Trust
Portfolios L.P.
Kristi A. Maher
(1966)
Chief Compliance Officer
and Assistant Secretary
• Indefinite Term
• Chief Compliance
Officer Since
January 2011
• Assistant Secretary
Since Inception
Deputy General Counsel, First Trust Advisors L.P. and First
Trust Portfolios L.P.
Roger F. Testin
(1966)
Vice President
• Indefinite Term
• Since Inception
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P.
Stan Ueland
(1970)
Vice President
• Indefinite Term
• Since Inception
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P.

(1)
Mr. Bowen is deemed an “interested person” of the Trust due to his position as Chief Executive Officer of First Trust Advisors L.P., investment advisor of the Trust.
(2)
The term “officer” means the president, vice president, secretary, treasurer, controller or any other officer who performs a policy making function.
Page 133

Privacy Policy
First Trust Exchange-Traded Fund II
September 30, 2023 (Unaudited)
Privacy Policy
First Trust values our relationship with you and considers your privacy an important priority in maintaining that relationship. We are committed to protecting the security and confidentiality of your personal information.
Sources of Information
We collect nonpublic personal information about you from the following sources:
  Information we receive from you and your broker-dealer, investment professional or financial representative through interviews, applications, agreements or other forms;
  Information about your transactions with us, our affiliates or others;
  Information we receive from your inquiries by mail, e-mail or telephone; and
  Information we collect on our website through the use of “cookies.” For example, we may identify the pages on our website that your browser requests or visits.
Information Collected
The type of data we collect may include your name, address, social security number, age, financial status, assets, income, tax information, retirement and estate plan information, transaction history, account balance, payment history, investment objectives, marital status, family relationships and other personal information.
Disclosure of Information
We do not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law. In addition to using this information to verify your identity (as required under law), the permitted uses may also include the disclosure of such information to unaffiliated companies for the following reasons:
  In order to provide you with products and services and to effect transactions that you request or authorize, we may disclose your personal information as described above to unaffiliated financial service providers and other companies that perform administrative or other services on our behalf, such as transfer agents, custodians and trustees, or that assist us in the distribution of investor materials such as trustees, banks, financial representatives, proxy services, solicitors and printers.
  We may release information we have about you if you direct us to do so, if we are compelled by law to do so, or in other legally limited circumstances (for example to protect your account from fraud).
In addition, in order to alert you to our other financial products and services, we may share your personal information within First Trust.
Use of Website Analytics
We currently use third party analytics tools, Google Analytics and AddThis, to gather information for purposes of improving First Trust’s website and marketing our products and services to you. These tools employ cookies, which are small pieces of text stored in a file by your web browser and sent to websites that you visit, to collect information, track website usage and viewing trends such as the number of hits, pages visited, videos and PDFs viewed and the length of user sessions in order to evaluate website performance and enhance navigation of the website. We may also collect other anonymous information, which is generally limited to technical and web navigation information such as the IP address of your device, internet browser type and operating system for purposes of analyzing the data to make First Trust’s website better and more useful to our users. The information collected does not include any personal identifiable information such as your name, address, phone number or email address unless you provide that information through the website for us to contact you in order to answer your questions or respond to your requests. To find out how to opt-out of these services click on:Google Analytics and AddThis.
Confidentiality and Security
With regard to our internal security procedures, First Trust restricts access to your nonpublic personal information to those First Trust employees who need to know that information to provide products or services to you. We maintain physical, electronic and procedural safeguards to protect your nonpublic personal information.
Policy Updates and Inquiries
As required by federal law, we will notify you of our privacy policy annually. We reserve the right to modify this policy at any time, however, if we do change it, we will tell you promptly. For questions about our policy, or for additional copies of this notice, please go to www.ftportfolios.com, or contact us at 1-800-621-1675 (First Trust Portfolios) or 1-800-222-6822 (First Trust Advisors).
March 2023
Page 134

First Trust Exchange-Traded Fund II
INVESTMENT ADVISOR
First Trust Advisors L.P.
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
ADMINISTRATOR, CUSTODIAN,
FUND ACCOUNTANT &
TRANSFER AGENT
The Bank of New York Mellon
240 Greenwich Street
New York, NY 10286
INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM
Deloitte & Touche LLP
111 South Wacker Drive
Chicago, IL 60606
LEGAL COUNSEL
Chapman and Cutler LLP
320 South Canal Street
Chicago, IL 60606