First Trust Exchange-Traded Fund VI

Semi-Annual Report

March 31, 2023

Shareholder Letter	2
Market Overview	3
Fund Performance Overview
First Trust NASDAQ Technology Dividend Index Fund (TDIV)	4
Multi-Asset Diversified Income Index Fund (MDIV)	6
First Trust S&P International Dividend Aristocrats ETF (FID)	8
First Trust BuyWrite Income ETF (FTHI)	11
First Trust Nasdaq BuyWrite Income ETF (FTQI)	13
First Trust Rising Dividend Achievers ETF (RDVY)	15
First Trust Dorsey Wright Focus 5 ETF (FV)	17
First Trust RBA American Industrial Renaissance® ETF (AIRR)	19
First Trust Dorsey Wright Momentum & Dividend ETF (DDIV)	21
First Trust Dorsey Wright International Focus 5 ETF (IFV)	23
First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC)	25
First Trust Indxx Innovative Transaction & Process ETF (LEGR)	27
First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT)	29
First Trust International Developed Capital Strength ETF (FICS)	31
Notes to Fund Performance Overview	33
Understanding Your Fund Expenses	34
Portfolio of Investments
First Trust NASDAQ Technology Dividend Index Fund (TDIV)	36
Multi-Asset Diversified Income Index Fund (MDIV)	38
First Trust S&P International Dividend Aristocrats ETF (FID)	43
First Trust BuyWrite Income ETF (FTHI)	46
First Trust Nasdaq BuyWrite Income ETF (FTQI)	54
First Trust Rising Dividend Achievers ETF (RDVY)	60
First Trust Dorsey Wright Focus 5 ETF (FV)	62
First Trust RBA American Industrial Renaissance® ETF (AIRR)	63
First Trust Dorsey Wright Momentum & Dividend ETF (DDIV)	65
First Trust Dorsey Wright International Focus 5 ETF (IFV)	67
First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC)	68
First Trust Indxx Innovative Transaction & Process ETF (LEGR)	69
First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT)	74
First Trust International Developed Capital Strength ETF (FICS)	78
Statements of Assets and Liabilities	80
Statements of Operations	84
Statements of Changes in Net Assets	88
Financial Highlights	94
Notes to Financial Statements	108
Additional Information	124

Caution Regarding Forward-Looking Statements

This report contains certain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the goals, beliefs, plans or current expectations of First Trust Advisors L.P. (“First Trust” or the “Advisor”) and its representatives, taking into account the information currently available to them. Forward-looking statements include all statements that do not relate solely to current or historical fact. For example, forward-looking statements include the use of words such as “anticipate,” “estimate,” “intend,” “expect,” “believe,” “plan,” “may,” “should,” “would” or other words that convey uncertainty of future events or outcomes.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of any series of First Trust Exchange-Traded Fund VI (the “Trust”) described in this report (each such series is referred to as a “Fund” and collectively, the “Funds”) to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. When evaluating the information included in this report, you are cautioned not to place undue reliance on these forward-looking statements, which reflect the judgment of the Advisor and its representatives only as of the date hereof. We undertake no obligation to publicly revise or update these forward-looking statements to reflect events and circumstances that arise after the date hereof.

Performance and Risk Disclosure

There is no assurance that any Fund described in this report will achieve its investment objectives. Each Fund is subject to market risk, which is the possibility that the market values of securities owned by the Fund will decline and that the value of the Fund’s shares may therefore be less than what you paid for them. Accordingly, you can lose money by investing in a Fund. See “Risk Considerations” in the Additional Information section of this report for a discussion of certain other risks of investing in the Funds.

Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. For the most recent month-end performance figures, please visit www.ftportfolios.com or speak with your financial advisor. Investment returns, net asset value and share price will fluctuate and Fund shares, when sold, may be worth more or less than their original cost.

The Advisor may also periodically provide additional information on Fund performance on each Fund’s web page at www.ftportfolios.com.

How to Read This Report

This report contains information that may help you evaluate your investment. It includes details about each Fund and presents data and analysis that provide insight into each Fund’s performance and investment approach.

By reading the market overview by Robert F. Carey, Chief Market Strategist of the Advisor, you may obtain an understanding of how the market environment affected the performance of each Fund. The statistical information that follows may help you understand each Fund’s performance compared to that of relevant market benchmarks.

It is important to keep in mind that the opinions expressed by personnel of the Advisor are just that: informed opinions. They should not be considered to be promises or advice. The opinions, like the statistics, cover the period through the date on the cover of this report. The material risks of investing in each Fund are spelled out in the prospectus, the statement of additional information, and other Fund regulatory filings.

Page 1

First Trust Exchange-Traded Fund VI

Semi-Annual Letter from the Chairman and CEO

March 31, 2023

Dear Shareholders,

First Trust is pleased to provide you with the semi-annual report for certain series of the First Trust Exchange-Traded Fund VI (the “Funds”), which contains detailed information about the Funds for the six months ended March 31, 2023.

I am constantly amazed by the depth and breadth of innovation that occurs when people from different geographic, economic, cultural, and educational backgrounds come together to solve problems. Many of the greatest companies to ever exist found their humble beginnings in the simple premise that problems are best solved through ingenuity and cooperation. That idea is still alive and well today, in my opinion. Take, as examples, the recent flood of interest sparked by artificial intelligence programs, advances in robotics, new medicines, more fuel-efficient gasoline engines, electric and hybrid vehicles, quantum computing, developments in wind and solar power; the list goes on and on. That said, the global economy is facing serious issues such as stubborn inflation and the specter of slowing economic growth to name a few.

As many investors know, the global financial system is currently navigating the fallout of the banking crisis that took lending markets by storm in March 2023. The turmoil that started in the U.S. with the failure of Silicon Valley Bank quickly spread around the globe, leading the Swiss government to broker the merger of two of Switzerland’s largest banks. In the U.S., the Federal Reserve (the “Fed”) created the Bank Term Funding Program, which allocated capital to help assure that banks can meet the needs of their depositors. Furthermore, inflation remains elevated on a global scale. Each of the countries that comprise the so-called Group of Ten is currently battling levels of inflation that are higher than the targets set by their central banks, according to data from Bloomberg. Additionally, political unrest stemming from the war between Russia and Ukraine remains a significant factor, with the potential to disturb global fuel and energy supplies as well as provoke interference from other foreign powers.

In the U.S., inflation, as measured by the trailing 12-month rate on the Consumer Price Index, stood at 5.0% as of March 31, 2023, well above the Fed’s stated goal of 2.0%. Despite signals pointing to a potential slowdown in economic growth in the U.S., the Fed stayed the course with regards to interest rate policy. Since February 28, 2022, the Fed raised the Federal Funds target rate (upper bound) a total of nine times, increasing the rate from 0.25%, where it stood on February 28, 2022, to 5.00% as of March 31, 2023.

Global markets have been resilient over time, and the S&P 500^® Index has never failed to recover from a bear market. While the issues plaguing the U.S. and global economies are severe, they are not insurmountable, in my view. As Brian Wesbury, Chief Economist at First Trust, recently wrote: “what made America strong is…its human resources and freedom.” We will continue to work the problems before us with ingenuity and resolve, as we always have.

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

First Trust Exchange-Traded Fund VI

Semi-Annual Report

March 31, 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 April 2023 sees real gross domestic product growth rising by 2.8% worldwide in 2023, down from its 2.9% projection in January 2023. The IMF is calling for a 1.6% 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 3.9% this year, down from the IMF’s 4.0% estimate in January 2023. The IMF notes that risks to their global outlook are squarely to the downside, especially given the recent turmoil in the Financials sector as well as stubbornly high inflation.

In the U.S., inflation, as measured by the Consumer Price Index (“CPI”), stood at 5.0% on a trailing 12-month basis at the end of March 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 CPI remains above its 30-year average of 2.5% as of March 31, 2023, and even further from the Federal Reserve’s (the “Fed”) target of 2.0%.

Performance of Global Stocks and Bonds

The major U.S. stock indices delivered positive results over the past six months. The S&P 500^® (the “Index”), S&P MidCap 400^® and S&P SmallCap 600^® Indices posted total returns of 15.62%, 15.00% and 12.00%, respectively, for the six-month period ended March 31, 2023. Each of the 11 major sectors that comprise the Index were up on a total return basis. The top performer was the Information Technology sector, up 27.59%, while the worst showing came from the Consumer Discretionary sector, up 4.31%.

A Bloomberg survey of twenty-four equity strategists found that their average 2023 year-end price target for the Index was 4,025, as of April 19, 2023, according to its own release. The highest and lowest estimates were 4,750 and 3,225, respectively. Brian Wesbury, Chief Economist at First Trust, announced in December 2022 that his 2023 year-end price target stood at 3,900. The Index closed trading on March 31, 2023, at 4,109. The outlook for corporate earnings in 2023 has turned negative. Bloomberg’s consensus year-over-year earnings growth rate estimates for the Index for the 2023 and 2024 calendar years stood at -2.67% and 11.56%, respectively, as of April 21, 2023.

The broader foreign stock indices posted positive total returns over the past six months. Between September 30, 2022, and March 31, 2023, the MSCI World ex USA and MSCI Emerging Markets equity indices posted total returns of 25.50% (USD) and 14.04% (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 7.69% (USD), while the Bloomberg EM Hard Currency Aggregate Index of emerging markets debt increased by 9.87% (USD), according to Bloomberg. The U.S. dollar fell by 8.57% over the past six months against a basket of major currencies, as measured by the U.S. Dollar Index (DXY). The sizable decline 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 long-term municipal bonds. The Bloomberg Municipal Bond: Long Bond (22+ Years) Index posted a total return of 9.68% for the six-month period ended March 31, 2023. The worst-performing U.S. debt group that we track was intermediate U.S. Treasuries. The Bloomberg U.S. Treasury: Intermediate Index posted a total return of 3.31%. The yield on the benchmark 10-Year Treasury Note (“T-Note”) fell by 36 basis points in the period to close at 3.47% on March 31, 2023, according to Bloomberg. For comparative purposes, the average yield on the 10-Year T-Note was 2.19% for the 10-year period ended March 31, 2023.

Page 3

First Trust NASDAQ Technology Dividend Index Fund (TDIV)

The First Trust NASDAQ Technology 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 Nasdaq Technology Dividend^TM Index (the “Index”). The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “TDIV.” The Fund normally invests at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index.

The Index includes up to 100 technology and telecommunications companies that pay a regular or common dividend. To be selected for the Index, a company must be classified as a technology or telecommunications company under the Industry Classification Benchmark and have a minimum market capitalization of $500 million. The Index may include U.S.-listed securities of non-U.S. companies, including companies located in emerging market countries.

Performance
			Average Annual Total Returns				Cumulative Total Returns
	6 Months Ended 3/31/23	1 Year Ended 3/31/23	5 Years Ended 3/31/23	10 Years Ended 3/31/23	Inception (8/13/12) to 3/31/23		5 Years Ended 3/31/23	10 Years Ended 3/31/23	Inception (8/13/12) to 3/31/23
Fund Performance
NAV	25.53%	-5.86%	11.20%	12.45%	12.60%		70.02%	223.38%	252.97%
Market Price	25.48%	-5.97%	11.16%	12.44%	12.59%		69.75%	223.13%	252.87%
Index Performance
Nasdaq Technology DividendTM Index	25.99%	-5.33%	11.91%	13.17%	13.32%		75.52%	244.71%	277.81%
S&P 500® Index	15.62%	-7.73%	11.19%	12.24%	12.80%		69.94%	217.36%	259.84%
S&P 500® Information Technology Index	27.59%	-4.55%	19.64%	20.14%	18.96%		145.10%	526.59%	533.14%

(See Notes to Fund Performance Overview on page 33.)

Nasdaq^® and Nasdaq Technology Dividend^TM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.

Page 4

First Trust NASDAQ Technology Dividend Index Fund (TDIV) (Continued)

Sector Allocation	% of Total Investments
Information Technology	87.1%
Communication Services	11.9
Industrials	1.0
Health Care	0.0*
Total	100.0%

    

*	Amount is less than 0.1%.

Top Ten Holdings	% of Total Investments
Intel Corp.	9.7%
Microsoft Corp.	8.6
Apple, Inc.	8.3
Broadcom, Inc.	8.0
International Business Machines Corp.	7.5
Texas Instruments, Inc.	4.0
Oracle Corp.	4.0
QUALCOMM, Inc.	3.8
Analog Devices, Inc.	2.5
Motorola Solutions, Inc.	2.0
Total	58.4%

Page 5

Multi-Asset Diversified Income Index Fund (MDIV)

The Multi-Asset Diversified Income Index Fund (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Nasdaq US Multi-Asset Diversified Income^TM Index (the “Index”). The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “MDIV.” The Fund normally invests at least 90% of its net assets (including investment borrowings) in the common stocks and/or depositary receipts, real estate investment trusts (“REITs”), preferred securities, master limited partnerships (“MLPs”) and exchange-traded fund (“ETF”) that comprise the Index.  The Index allocates 20% of its weight to the equity securities segment, 20% of its weight to the REIT segment, 20% of its weight to the preferred stocks segment, 20% of its weight to the MLP segment and 20% of its weight to an ETF that invests in high yield corporate debt securities. The ETF in which the Fund invests may be advised by First Trust Advisors L.P. 

The Index is designed to provide exposure to five asset segments, each selected to result in a consistent and high yield for the Index.  The Index is reconstituted and rebalanced quarterly and the Fund will make corresponding changes to its portfolio shortly after the Index changes are made public.

Performance
			Average Annual Total Returns				Cumulative Total Returns
	6 Months Ended 3/31/23	1 Year Ended 3/31/23	5 Years Ended 3/31/23	10 Years Ended 3/31/23	Inception (8/13/12) to 3/31/23		5 Years Ended 3/31/23	10 Years Ended 3/31/23	Inception (8/13/12) to 3/31/23
Fund Performance
NAV	5.13%	-6.93%	2.05%	2.14%	3.14%		10.70%	23.63%	38.92%
Market Price	5.41%	-6.62%	2.11%	2.17%	3.17%		11.02%	23.94%	39.39%
Index Performance
Nasdaq US Multi-Asset Diversified IncomeTM Index	5.47%	-6.41%	2.61%	2.76%	3.78%		13.77%	31.34%	48.40%
S&P 500® Index	15.62%	-7.73%	11.19%	12.24%	12.80%		69.94%	217.36%	259.84%
Dow Jones U.S. Select DividendTM Index*	11.69%	-4.58%	8.54%	10.48%	11.16%		50.62%	170.80%	207.92%

(See Notes to Fund Performance Overview on page 33.)

*	The Dow Jones U.S. Select DividendTM Index represents 100 of the United States’ leading stocks by dividend yield.

Nasdaq^® and Nasdaq US Multi-Asset Diversified Income^TM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.

Page 6

Multi-Asset Diversified Income Index Fund (MDIV) (Continued)

Sector Allocation	% of Total Investments
Financials	23.0%
Energy	21.9
Other*	21.1
Real Estate	17.0
Utilities	3.9
Consumer Staples	3.3
Industrials	3.0
Communication Services	2.4
Consumer Discretionary	2.1
Materials	1.6
Information Technology	0.4
Health Care	0.3
Total	100.0%

    

*	Exchange-traded fund with holdings representing multiple sectors.

Top Ten Holdings	% of Total Investments
First Trust Tactical High Yield ETF	21.1%
Ready Capital Corp.	1.5
Icahn Enterprises, L.P.	1.5
Dorchester Minerals, L.P.	1.3
Starwood Property Trust, Inc.	1.2
Kimbell Royalty Partners, L.P.	1.2
Arbor Realty Trust, Inc.	1.1
Black Stone Minerals, L.P.	1.1
Sturm Ruger & Co., Inc.	1.1
WESCO International, Inc., Series A	1.1
Total	32.2%

Page 7

First Trust S&P International Dividend Aristocrats ETF (FID)

The First Trust S&P International Dividend Aristocrats 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 S&P International Dividend Aristocrats Index (the “Index”). The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “FID.” The Fund normally invests at least 90% of its net assets (including investment borrowings) in the equity securities that comprise the Index. The Index measures the performance of high dividend yielding companies that have followed a managed-dividends policy of increasing or maintaining dividends for at least ten consecutive years.

Performance
			Average Annual Total Returns			Cumulative Total Returns
	6 Months Ended 3/31/23	1 Year Ended 3/31/23	5 Years Ended 3/31/23	Inception (8/22/13) to 3/31/23		5 Years Ended 3/31/23	Inception (8/22/13) to 3/31/23
Fund Performance
NAV	16.18%	-7.08%	1.13%	2.08%		5.79%	21.90%
Market Price	16.25%	-7.17%	1.07%	2.10%		5.45%	22.05%
Index Performance
S&P International Dividend Aristocrats Index(1)	16.56%	-6.46%	N/A	N/A		N/A	N/A
Dow Jones EPAC Select DividendTM Index(2)	24.05%	-7.90%	2.44%	3.19%		12.79%	35.16%
MSCI World ex USA Index	25.50%	-2.74%	3.83%	4.65%		20.70%	54.80%

(See Notes to Fund Performance Overview on page 33.)

(1)

On August 30, 2018, the Fund’s underlying index changed from the Nasdaq International Multi-Asset Diversified IncomeTM Index to the S&P International Dividend Aristocrats Index (the “Index”). Therefore, the Fund’s performance and historical returns shown for the periods prior to August 30, 2018, are not necessarily indicative of the performance that the Fund, based on its current index, would have generated. Since the Index had an inception date of April 30, 2018, it was not in existence for all of the periods disclosed. The old index was terminated on November 23, 2018, so performance data does not exist for these time periods.

(2)	The Dow Jones EPAC Select DividendTM Index measures the performance of a selected group of companies, from non-U.S. developed markets (Europe, Pacific Asia, and Canada), that have provided relatively high dividend yields on a consistent basis over time.

S&P International Dividend Aristocrats 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 8

First Trust S&P International Dividend Aristocrats ETF (FID) (Continued)

Sector Allocation	% of Total Investments
Financials	25.3%
Real Estate	16.1
Utilities	15.5
Industrials	12.4
Consumer Discretionary	6.9
Materials	6.7
Energy	5.2
Communication Services	3.7
Consumer Staples	3.6
Information Technology	3.5
Health Care	1.1
Total	100.0%

    

Country Allocation	% of Total Investments
Canada	25.5%
Japan	19.0
Hong Kong	13.5
Switzerland	9.2
United Kingdom	7.7
Bermuda	4.6
Germany	4.2
Italy	3.1
Australia	2.7
France	1.7
Cayman Islands	1.6
Taiwan	1.5
Singapore	1.4
Ireland	1.1
South Korea	1.1
China	1.1
Norway	1.0
Total	100.0%

Top Ten Holdings	% of Total Investments
New World Development Co., Ltd.	2.0%
Adecco Group AG	2.0
Lenovo Group Ltd.	2.0
A2A S.p.A.	2.0
Guangdong Investment Ltd.	1.7
BASF SE	1.7
Bouygues S.A.	1.7
Legal & General Group PLC	1.6
Longfor Group Holdings Ltd.	1.6
JB Hi-Fi Ltd.	1.6
Total	17.9%

Page 9

First Trust S&P International Dividend Aristocrats ETF (FID) (Continued)

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 10

First Trust BuyWrite Income ETF (FTHI)

The First Trust BuyWrite Income ETF (the “Fund”) is an actively managed exchange-traded fund. The Fund’s primary investment objective is to provide current income. The Fund’s secondary investment objective is to provide capital appreciation. Under normal market conditions, the Fund invests primarily in equity securities listed on U.S. exchanges. The Fund also employs an “option strategy” in which it will write (sell) U.S. exchange-traded call options on the S&P 500^® Index (the “Index”) to seek additional cash flow in the form of premiums on the options that may be distributed to shareholders on a monthly basis. The equity securities held by the Fund are selected using a mathematical optimization process which attempts to favor higher dividend paying common stocks for the Fund’s portfolio. The shares of the Fund are listed and trade on the Nasdaq Stock Market LLC under the ticker symbol “FTHI.”

Portfolio Management Team

Portfolio management decisions are made under the direction of the following Portfolio Managers:

John Gambla, CFA, FRM, PRM, Senior Portfolio Manager of First Trust

Rob A. Guttschow, CFA, Senior Portfolio Manager of First Trust

Each portfolio manager has served in such capacity for the Fund since 2014.

Performance
			Average Annual Total Returns			Cumulative Total Returns
	6 Months Ended 3/31/23	1 Year Ended 3/31/23	5 Years Ended 3/31/23	Inception (1/6/14) to 3/31/23		5 Years Ended 3/31/23	Inception (1/6/14) to 3/31/23
Fund Performance
NAV	14.38%	-3.77%	3.66%	5.28%		19.68%	60.73%
Market Price	14.12%	-3.82%	3.56%	5.28%		19.13%	60.80%
Index Performance
CBOE S&P 500 BuyWrite Monthly Index(1)	13.15%	-6.86%	4.25%	5.44%		23.13%	63.12%
S&P 500® Index	15.62%	-7.73%	11.19%	11.28%		69.94%	168.23%

(See Notes to Fund Performance Overview on page 33.)

(1)	The CBOE S&P 500 BuyWrite Monthly Index is a benchmark index designed to track the performance of a hypothetical buy-write strategy on the S&P 500® Index.

Page 11

First Trust BuyWrite Income ETF (FTHI) (Continued)

Sector Allocation	% of Total Investments
Information Technology	25.0%
Financials	16.7
Health Care	13.7
Consumer Discretionary	9.5
Consumer Staples	9.0
Communication Services	7.6
Industrials	6.2
Energy	4.9
Materials	3.9
Utilities	1.9
Real Estate	1.6
Total	100.0%

    

Fund Allocation	% of Net Assets
Common Stocks	96.4%
Real Estate Investment Trusts	3.8
Master Limited Partnerships	0.8
Call Options Written	(2.8)
Net Other Assets and Liabilities	1.8
Total	100.0%

Top Ten Holdings	% of Total Investments
Apple, Inc.	7.1%
Microsoft Corp.	6.3
Amazon.com, Inc.	2.7
NVIDIA Corp.	2.0
Alphabet, Inc., Class A	1.8
Tesla, Inc.	1.7
Berkshire Hathaway, Inc., Class B	1.6
Alphabet, Inc., Class C	1.6
AGNC Investment Corp.	1.4
UnitedHealth Group, Inc.	1.4
Total	27.6%

Page 12

First Trust Nasdaq BuyWrite Income ETF (FTQI)

The First Trust Nasdaq BuyWrite Income ETF (the “Fund”) is an actively managed exchange-traded fund. The Fund’s investment objective is to provide current income. Under normal market conditions, the Fund will pursue its investment objective by investing primarily in equity securities listed on U.S. exchanges and by utilizing an “option strategy” consisting of writing (selling) U.S. exchange-traded call options on the Nasdaq-100 Index^®. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in the components of the Nasdaq Composite Index. The Fund will employ an option strategy in which it will write U.S. exchange-traded call options on the Nasdaq-100 Index^® in order to seek additional cash flow in the form of premiums on the options. A premium is the income received by an investor who sells an option contract to another party. In exchange for the premiums received in connection with its written U.S. exchange-traded call options on the Nasdaq-100 Index^®, the Fund forfeits any upside potential of the Nasdaq-100 Index^® above the strike price of the written call options. It is expected that the Fund will distribute premiums to shareholders on a monthly basis. The premiums received from the sale of call options are expected to be the Fund’s primary source of income. Under normal market conditions, the Fund will seek to distribute the majority of the option premiums collected. The Fund does not target a specific income level, but seeks to provide investors with current income primarily from options premiums through writing calls with a notional value of 50-100% of the Fund’s assets. The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “FTQI.”

Portfolio Management Team

Portfolio management decisions are made under the direction of the following Portfolio Managers:

John Gambla, CFA, FRM, PRM, Senior Portfolio Manager of First Trust

Rob A. Guttschow, CFA, Senior Portfolio Manager of First Trust

Each portfolio manager has served in such capacity for the Fund since 2014.

Performance
			Average Annual Total Returns			Cumulative Total Returns
	6 Months Ended 3/31/23	1 Year Ended 3/31/23	5 Years Ended 3/31/23	Inception (1/6/14) to 3/31/23		5 Years Ended 3/31/23	Inception (1/6/14) to 3/31/23
Fund Performance
NAV	14.14%	-4.42%	2.27%	3.79%		11.89%	41.00%
Market Price	13.60%	-4.79%	2.18%	3.76%		11.39%	40.60%
Index Performance
CBOE Nasdaq-100 BuyWriteTM Index(1)	17.19%	-6.12%	4.92%	6.46%		27.12%	78.16%
S&P 500® Index	15.62%	-7.73%	11.19%	11.28%		69.94%	168.23%
Nasdaq-100 Index®(2)	20.72%	-10.35%	15.96%	16.57%		109.65%	311.68%

(See Notes to Fund Performance Overview on page 33.)

(1)

The Cboe Nasdaq-100 BuyWriteTM Index is a benchmark index designed to track the performance of a hypothetical buy-write strategy on the Nasdaq-100 Index®. The index is a passive total return index based on (1) buying the Nasdaq-100 Index® stock index portfolio, and (2) “writing” (or selling) the near-term Nasdaq-100 Index® “covered” call option.

(2)	On May 11, 2022, the Fund’s primary benchmark changed from the S&P 500® Index to the Nasdaq-100 Index® because the Advisor believes that the Nasdaq-100 Index® better reflects the investment strategies of the Fund.

Page 13

First Trust Nasdaq BuyWrite Income ETF (FTQI) (Continued)

Sector Allocation	% of Total Investments
Information Technology	51.4%
Communication Services	11.7
Consumer Discretionary	10.6
Health Care	8.1
Consumer Staples	7.1
Financials	4.2
Real Estate	2.3
Industrials	2.1
Utilities	2.0
Materials	0.5
Total	100.0%

    

Fund Allocation	% of Net Assets
Common Stocks	101.9%
Real Estate Investment Trusts	2.1
Call Options Written	(5.3)
Net Other Assets and Liabilities	1.3
Total	100.0%

Top Ten Holdings	% of Total Investments
Apple, Inc.	12.9%
Microsoft Corp.	10.6
NVIDIA Corp.	4.2
PepsiCo, Inc.	3.1
Amazon.com, Inc.	3.1
Tesla, Inc.	2.6
Meta Platforms, Inc., Class A	2.4
Broadcom, Inc.	2.2
Alphabet, Inc., Class A	2.0
Alphabet, Inc., Class C	2.0
Total	45.1%

Page 14

First Trust Rising Dividend Achievers ETF (RDVY)

The First Trust Rising Dividend Achievers ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called Nasdaq US Rising Dividend Achievers^TM Index (the “Index”). The Fund normally invests at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index. The Index includes 50 U.S. exchange-traded equity securities, including securities issued by non-U.S. companies that trade on U.S. securities exchanges in the form of depositary receipts. The Index is designed to provide access to a diversified portfolio of small, mid and large capitalization companies with a history of raising their dividends while exhibiting the characteristics to continue to do so in the future by including companies with strong cash balances, low debt and increasing earnings. The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “RDVY.”

Performance
			Average Annual Total Returns			Cumulative Total Returns
	6 Months Ended 3/31/23	1 Year Ended 3/31/23	5 Years Ended 3/31/23	Inception (1/6/14) to 3/31/23		5 Years Ended 3/31/23	Inception (1/6/14) to 3/31/23
Fund Performance
NAV	17.12%	-6.07%	10.49%	11.19%		64.68%	166.18%
Market Price	17.04%	-6.15%	10.48%	11.18%		64.60%	166.05%
Index Performance
Nasdaq US Rising Dividend AchieversTM Index	17.44%	-5.66%	11.07%	11.78%		69.07%	179.50%
Dow Jones U.S. Select DividendTM Index*	11.69%	-4.58%	8.54%	9.87%		50.62%	138.33%

(See Notes to Fund Performance Overview on page 33.)

*	The Dow Jones U.S. Select DividendTM Index represents 100 of the United States’ leading stocks by dividend yield.

Nasdaq^® and Nasdaq US Rising Dividend Achievers^TM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.

Page 15

First Trust Rising Dividend Achievers ETF (RDVY) (Continued)

Sector Allocation	% of Total Investments
Financials	39.8%
Information Technology	16.0
Energy	12.4
Materials	12.1
Health Care	7.6
Communication Services	4.2
Industrials	4.0
Consumer Staples	2.0
Consumer Discretionary	1.9
Total	100.0%

Top Ten Holdings	% of Total Investments
Accenture PLC, Class A	2.2%
Freeport-McMoRan, Inc.	2.1
Popular, Inc.	2.1
Magnolia Oil & Gas Corp., Class A	2.1
Civitas Resources, Inc.	2.1
Chord Energy Corp.	2.1
Interpublic Group of (The) Cos., Inc.	2.1
Exxon Mobil Corp.	2.1
Omnicom Group, Inc.	2.1
Steel Dynamics, Inc.	2.1
Total	21.1%

Page 16

First Trust Dorsey Wright Focus 5 ETF (FV)

The First Trust Dorsey Wright Focus 5 ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Dorsey Wright Focus Five^TM Index (the “Index”). The Fund normally invests at least 90% of its net assets (including investment borrowings) in the exchange-traded funds (“ETFs”) that comprise the Index. The ETFs comprising the Index selection universe are advised by First Trust Advisors L.P. (“First Trust”), the Fund’s investment advisor. The Index is constructed pursuant to Dorsey, Wright & Associates, LLC’s (the “Index Provider”) proprietary methodology, which takes into account the performance of each of the First Trust sector-based ETFs relative to one another. The Index is designed to provide targeted exposure to the five First Trust sector-based ETFs that the Index Provider believes offer the greatest potential to outperform the other ETFs in the selection universe and that satisfy certain trading volume and liquidity requirements. The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “FV.”

Performance
			Average Annual Total Returns			Cumulative Total Returns
	6 Months Ended 3/31/23	1 Year Ended 3/31/23	5 Years Ended 3/31/23	Inception (3/5/14) to 3/31/23		5 Years Ended 3/31/23	Inception (3/5/14) to 3/31/23
Fund Performance
NAV	10.71%	-3.94%	10.08%	9.93%		61.67%	136.03%
Market Price	10.84%	-3.84%	10.09%	9.94%		61.68%	136.14%
Index Performance
Dorsey Wright Focus FiveTM Index	10.97%	-3.57%	10.42%	10.32%		64.13%	143.65%
S&P 500® Index	15.62%	-7.73%	11.19%	11.13%		69.94%	160.55%

(See Notes to Fund Performance Overview on page 33.)

Nasdaq^® and Dorsey Wright Focus Five^TM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.

Page 17

First Trust Dorsey Wright Focus 5 ETF (FV) (Continued)

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 18

First Trust RBA American Industrial Renaissance^® ETF (AIRR)

The First Trust RBA American Industrial Renaissance^® 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 Richard Bernstein Advisors American Industrial Renaissance^® Index (the “Index”). The Fund normally invests at least 90% of its net assets (including investment borrowings) in the equity securities that comprise the Index. The Index is designed to measure the performance of small- and mid-cap U.S. companies in the industrial and community banking sectors. The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “AIRR.”

Performance
			Average Annual Total Returns			Cumulative Total Returns
	6 Months Ended 3/31/23	1 Year Ended 3/31/23	5 Years Ended 3/31/23	Inception (3/10/14) to 3/31/23		5 Years Ended 3/31/23	Inception (3/10/14) to 3/31/23
Fund Performance
NAV	25.90%	13.79%	13.27%	10.43%		86.44%	145.62%
Market Price	25.71%	13.80%	13.30%	10.43%		86.69%	145.58%
Index Performance
Richard Bernstein Advisors American Industrial Renaissance® Index	26.38%	14.63%	14.08%	11.27%		93.25%	163.02%
S&P 500® Index	15.62%	-7.73%	11.19%	11.13%		69.94%	160.00%
S&P 500® Industrials Index	23.36%	0.17%	8.43%	9.41%		49.91%	125.91%
Russell 2500® Index	11.07%	-10.39%	6.65%	7.33%		37.95%	89.85%

(See Notes to Fund Performance Overview on page 33.)

Richard Bernstein Advisors and Richard Bernstein Advisors American Industrial Renaissance^® Index (“Index”) are trademarks and trade names of Richard Bernstein Advisors (“RBA”). The Fund is not sponsored, endorsed, sold or promoted by RBA and RBA makes no representation or warranty, express or implied, to the owners of the Fund or any member of the public regarding the advisability of trading in the Fund. RBA’s only relationship to First Trust is the licensing of certain trademarks and trade names of RBA and of the Index, which is determined, composed and calculated by RBA without regard to First Trust or the Fund. RBA has no obligation to take the needs of First Trust or the owners of the Fund into consideration in determining, composing or calculating the Index. RBA is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Fund to be listed or in the determination or calculation of the equation by which the Fund is to be converted into cash. RBA has no obligation or liability in connection with the administration, marketing or trading of the Fund.

Page 19

First Trust RBA American Industrial Renaissance^® ETF (AIRR) (Continued)

Sector Allocation	% of Total Investments
Industrials	91.8%
Financials	8.2
Total	100.0%

Top Ten Holdings	% of Total Investments
Encore Wire Corp.	4.0%
Comfort Systems USA, Inc.	3.9
Proto Labs, Inc.	3.8
Mueller Water Products, Inc., Class A	3.6
Clean Harbors, Inc.	3.6
Atkore, Inc.	3.6
Greenbrier (The) Cos., Inc.	3.6
Quanta Services, Inc.	3.5
APi Group Corp.	3.5
Arcosa, Inc.	3.5
Total	36.6%

Page 20

First Trust Dorsey Wright Momentum & Dividend ETF (DDIV)

The First Trust Dorsey Wright Momentum & Dividend ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Dorsey Wright Momentum Plus Dividend Yield^TM Index (the “Index”). Under normal conditions, the Fund invests at least 90% of its net assets (including investment borrowings) in the equity securities that comprise the Index. The Index is a rules-based equity index designed to track the overall performance of the 50 stocks with the highest dividend yield comprising the Nasdaq US Large Mid™ Index that still maintain high levels of “relative strength.” A relative strength analysis is a momentum-based investment strategy that emphasizes a security’s forward price momentum in the security selection process. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “DDIV.”

Performance
			Average Annual Total Returns			Cumulative Total Returns
	6 Months Ended 3/31/23	1 Year Ended 3/31/23	5 Years Ended 3/31/23	Inception (3/10/14) to 3/31/23		5 Years Ended 3/31/23	Inception (3/10/14) to 3/31/23
Fund Performance
NAV	5.92%	-13.80%	5.78%	6.66%		32.44%	79.33%
Market Price	5.85%	-13.85%	5.75%	6.66%		32.23%	79.29%
Index Performance
Dorsey Wright Momentum Plus Dividend YieldTM Index(1)	6.36%	-13.29%	N/A	N/A		N/A	N/A
Dow Jones U.S. Select DividendTM Index(2)	11.69%	-4.58%	8.54%	9.74%		50.62%	131.98%
S&P 500® Index	15.62%	-7.73%	11.19%	11.13%		69.94%	160.00%

(See Notes to Fund Performance Overview on page 33.)

(1)

On September 6, 2018, the Fund’s underlying index changed from the Richard Bernstein Advisors Quality Income Index to the Dorsey Wright Momentum Plus Dividend YieldTM Index (the “Index”). Therefore, the Fund’s performance and historical returns shown for the periods prior to September 6, 2018, are not necessarily indicative of the performance that the Fund, based on its current index, would have generated. Since the Index had an inception date of July 2, 2018, it was not in existence for all of the periods disclosed.

(2)	The Dow Jones U.S. Select DividendTM Index represents 100 of the United States’ leading stocks by dividend yield.

Nasdaq^® and Dorsey Wright Momentum Plus Dividend Yield^TM 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 21

First Trust Dorsey Wright Momentum & Dividend ETF (DDIV) (Continued)

Sector Allocation	% of Total Investments
Financials	30.8%
Real Estate	26.5
Energy	17.5
Health Care	6.4
Consumer Staples	5.7
Information Technology	3.4
Utilities	2.8
Industrials	2.2
Consumer Discretionary	2.1
Communication Services	1.5
Materials	1.1
Total	100.0%

Top Ten Holdings	% of Total Investments
OneMain Holdings, Inc.	5.3%
Starwood Property Trust, Inc.	4.9
Antero Midstream Corp.	4.2
Spirit Realty Capital, Inc.	3.6
Simon Property Group, Inc.	3.3
Gaming and Leisure Properties, Inc.	3.2
Kinder Morgan, Inc.	3.1
Iron Mountain, Inc.	3.0
Lamar Advertising Co., Class A	2.9
ONEOK, Inc.	2.8
Total	36.3%

Page 22

First Trust Dorsey Wright International Focus 5 ETF (IFV)

The First Trust Dorsey Wright International Focus 5 ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Dorsey Wright International Focus Five^TM Index (the “Index”). The Fund normally invests at least 90% of its net assets (including investment borrowings) in the exchange-traded funds (“ETFs”) that comprise the Index. The ETFs comprising the Index selection universe are advised by First Trust Advisors L.P. (“First Trust”), the Fund’s investment advisor. The Index is constructed pursuant to Dorsey, Wright & Associates, LLC’s (the “Index Provider”) proprietary methodology, which takes into account the performance of certain First Trust international ETFs relative to one another. The Index is designed to provide targeted exposure to the five First Trust country/region-based ETFs that the Index Provider believes offer the greatest potential to outperform the other ETFs in the selection universe. The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “IFV.”

Performance
			Average Annual Total Returns			Cumulative Total Returns
	6 Months Ended 3/31/23	1 Year Ended 3/31/23	5 Years Ended 3/31/23	Inception (7/22/14) to 3/31/23		5 Years Ended 3/31/23	Inception (7/22/14) to 3/31/23
Fund Performance
NAV	7.85%	-15.44%	-2.85%	-0.01%		-13.48%	-0.11%
Market Price	7.97%	-15.49%	-2.78%	0.01%		-13.17%	0.08%
Index Performance
Dorsey Wright International Focus FiveTM Index	8.15%	-15.09%	-2.35%	0.41%		-11.20%	3.65%
MSCI ACWI ex USA Index	22.13%	-5.07%	2.51%	2.80%		13.17%	27.14%

(See Notes to Fund Performance Overview on page 33.)

Nasdaq^® and Dorsey Wright International Focus Five^TM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.

Page 23

First Trust Dorsey Wright International Focus 5 ETF (IFV) (Continued)

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 24

First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC)

The First Trust Dorsey Wright Dynamic Focus 5 ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Dorsey Wright Dynamic Focus Five^TM Index (the “Index”). The Fund normally invests at least 80% of its net assets (including investment borrowings) in the exchange-traded funds (“ETFs”) that comprise the Index, including the First Trust Enhanced Short Maturity ETF (“FTSM”), an ultra-short duration ETF. The ETFs comprising the Index selection universe are advised by First Trust Advisors L.P. (“First Trust”), the Fund’s investment advisor. The Index is constructed pursuant to Dorsey, Wright & Associates, LLC’s (the “Index Provider”) proprietary methodology, which takes into account the performance of each of the First Trust sector and industry-based ETFs relative to one another. The Index is designed to provide targeted exposure to the five First Trust sector and industry-based ETFs that the Index Provider determines offer the greatest potential to outperform the other First Trust sector and industry-based ETFs and that satisfy certain trading volume and liquidity requirements. In addition to the First Trust sector and industry-based ETFs, the Index may select FTSM. FTSM is also evaluated and its inclusion and weight in the Index is adjusted based upon its rank relative to the selection universe of sector and industry-based ETFs chosen by the Index. The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “FVC.”

Performance
			Average Annual Total Returns			Cumulative Total Returns
	6 Months Ended 3/31/23	1 Year Ended 3/31/23	5 Years Ended 3/31/23	Inception (3/17/16) to 3/31/23		5 Years Ended 3/31/23	Inception (3/17/16) to 3/31/23
Fund Performance
NAV	-0.18%	-8.49%	5.04%	8.08%		27.86%	72.84%
Market Price	-0.33%	-8.47%	5.04%	8.08%		27.86%	72.83%
Index Performance
Dorsey Wright Dynamic Focus FiveTM Index	0.17%	-7.97%	5.40%	8.46%		30.10%	77.13%
S&P 500® Index	15.62%	-7.73%	11.19%	12.51%		69.94%	129.22%

(See Notes to Fund Performance Overview on page 33.)

Nasdaq^® and Dorsey Wright Dynamic Focus Five^TM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.

Page 25

First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) (Continued)

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 26

First Trust Indxx Innovative Transaction & Process ETF (LEGR)

The First Trust Indxx Innovative Transaction & Process 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 Indxx Blockchain Index (the “Index”). 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 designed to track the performance of companies that are either actively using, investing in, developing, or have products that are poised to benefit from blockchain technology and/or the potential for increased efficiency that it provides to various business processes. The Index seeks to include only companies that have devoted material resources to the use of blockchain technologies. The shares of the Fund are listed and traded on The Nasdaq Stock Market LLC, under the ticker symbol “LEGR.”

Performance
			Average Annual Total Returns			Cumulative Total Returns
	6 Months Ended 3/31/23	1 Year Ended 3/31/23	5 Years Ended 3/31/23	Inception (1/24/18) to 3/31/23		5 Years Ended 3/31/23	Inception (1/24/18) to 3/31/23
Fund Performance
NAV	23.94%	-4.31%	7.23%	6.24%		41.79%	36.85%
Market Price	24.31%	-4.38%	7.19%	6.24%		41.51%	36.86%
Index Performance
Indxx Blockchain Index	24.16%	-3.95%	8.22%	7.19%		48.40%	43.27%
S&P 500® Index	15.62%	-7.73%	11.19%	9.33%		69.94%	58.77%

(See Notes to Fund Performance Overview on page 33.)

Indxx and Indxx Blockchain 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 27

First Trust Indxx Innovative Transaction & Process ETF (LEGR) (Continued)

Sector Allocation	% of Total Long-Term Investments
Financials	37.1%
Information Technology	30.2
Communication Services	9.5
Consumer Discretionary	9.3
Industrials	5.5
Utilities	3.0
Consumer Staples	1.7
Materials	1.6
Health Care	1.3
Energy	0.8
Total	100.0%

Top Ten Holdings	% of Total Long-Term Investments
Intel Corp.	1.5%
Alibaba Group Holding Ltd., ADR	1.5
NVIDIA Corp.	1.5
Advanced Micro Devices, Inc.	1.5
Baidu, Inc., ADR	1.4
Microsoft Corp.	1.4
Amazon.com, Inc.	1.4
Salesforce, Inc.	1.4
Accenture PLC, Class A	1.4
Samsung Electronics Co., Ltd.	1.4
Total	14.4%

Page 28

First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT)

The First Trust Nasdaq Artificial Intelligence and Robotics ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Nasdaq CTA Artificial Intelligence and Robotics^TM Index (the “Index”). 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 designed to track the performance of companies engaged in the artificial intelligence and robotics segments of the technology, industrial and other economic sectors. The shares of the Fund are listed and traded on The Nasdaq Stock Market LLC, under the ticker symbol “ROBT.”

Performance
			Average Annual Total Returns			Cumulative Total Returns
	6 Months Ended 3/31/23	1 Year Ended 3/31/23	5 Years Ended 3/31/23	Inception (2/21/18) to 3/31/23		5 Years Ended 3/31/23	Inception (2/21/18) to 3/31/23
Fund Performance
NAV	26.86%	-9.42%	8.00%	7.48%		46.91%	44.53%
Market Price	27.08%	-9.36%	8.00%	7.51%		46.93%	44.70%
Index Performance
Nasdaq CTA Artificial Intelligence and RoboticsTM Index	26.73%	-9.68%	8.75%	8.12%		52.12%	48.99%
S&P 500® Index	15.62%	-7.73%	11.19%	10.50%		69.64%	66.47%

(See Notes to Fund Performance Overview on page 33.)

Nasdaq^® and Nasdaq CTA Artificial Intelligence and Robotics^TM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND. 

Page 29

First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT) (Continued)

Sector Allocation	% of Total Long-Term Investments
Information Technology	59.7%
Industrials	21.1
Consumer Discretionary	10.8
Health Care	5.4
Communication Services	2.3
Real Estate	0.4
Consumer Staples	0.3
Total	100.0%

Top Ten Holdings	% of Total Long-Term Investments
C3.ai, Inc., Class A	2.8%
UiPath, Inc., Class A	2.2
BlackBerry Ltd.	2.2
Illumina, Inc.	2.2
Nice Ltd., ADR	2.0
ANSYS, Inc.	2.0
Mobileye Global, Inc., Class A	2.0
Ciena Corp.	2.0
Cadence Design Systems, Inc.	2.0
ServiceNow, Inc.	2.0
Total	21.4%

Page 30

First Trust International Developed Capital Strength ETF (FICS)

The First Trust International Developed Capital Strength 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 International Developed Capital Strength^TM Index (the “Index”). The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 90% of its net assets (including investment borrowings) in the common stocks and real estate investment trusts that comprise the Index. The Index seeks to provide exposure to well-capitalized companies in the developed markets outside of the U.S. with strong market positions that have the potential to provide a greater degree of stability and performance over time. The shares of the Fund are listed and traded on The Nasdaq Stock Market LLC, under the ticker symbol “FICS.”

Performance
			Average Annual Total Returns	Cumulative Total Returns
	6 Months Ended 3/31/23	1 Year Ended 3/31/23	Inception (12/15/20) to 3/31/23	Inception (12/15/20) to 3/31/23
Fund Performance
NAV	22.00%	-2.58%	3.43%	8.03%
Market Price	21.63%	-2.78%	3.48%	8.16%
Index Performance
The International Developed Capital StrengthTM Index	21.26%	-3.11%	4.18%	9.82%
MSCI World ex USA Index	25.50%	-2.74%	2.69%	6.27%

(See Notes to Fund Performance Overview on page 33.)

Nasdaq^® and The International Developed Capital Strength^TM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND. 

Page 31

First Trust International Developed Capital Strength ETF (FICS) (Continued)

Sector Allocation	% of Total Investments
Industrials	22.0%
Consumer Staples	16.6
Financials	15.3
Information Technology	14.2
Consumer Discretionary	12.8
Health Care	11.1
Materials	4.6
Real Estate	1.8
Communication Services	1.6
Total	100.0%

Top Ten Holdings	% of Total Investments
Shin-Etsu Chemical Co., Ltd.	2.8%
LVMH Moet Hennessy Louis Vuitton SE	2.5
L’Oreal S.A.	2.5
Kering S.A.	2.5
Schindler Holding AG	2.3
Constellation Software, Inc.	2.3
Hong Kong Exchanges & Clearing Ltd.	2.3
Carlsberg A.S., Class B	2.2
Kia Corp.	2.2
Brenntag SE	2.2
Total	23.8%

Page 32

Total returns for the periods since inception are calculated from the inception date of each Fund. “Average Annual Total Returns” represent the average annual change in value of an investment over the periods indicated. “Cumulative Total Returns” represent the total change in value of an investment over the periods indicated. 

Each Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is computed by dividing the value of all assets of the Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of outstanding shares. The price used to calculate market return (“Market Price”) is determined by using the midpoint of the national best bid and offer price (“NBBO”) as of the time that the Fund’s NAV is calculated. Under SEC rules, the NBBO consists of the highest displayed buy and lowest sell prices among the various exchanges trading the Fund at the time the Fund’s NAV is calculated. Prior to January 1, 2019, the price used was the midpoint between the highest bid and the lowest offer on the stock exchange on which shares of the Fund were listed for trading as of the time that the Fund’s NAV was calculated. Since shares of each Fund did not trade in the secondary market until after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund, the NAV of each Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that all distributions have been reinvested in each Fund at NAV and Market Price, respectively.

An index is a statistical composite that tracks a specified financial market or sector. Unlike each Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by each Fund. These expenses negatively impact the performance of each Fund. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower. The total returns presented reflect the reinvestment of dividends on securities in the indices. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. The investment return and principal value of shares of each Fund will vary with changes in market conditions. Shares of each Fund may be worth more or less than their original cost when they are redeemed or sold in the market. Each Fund’s past performance is no guarantee of future performance.

Page 33

First Trust Exchange-Traded Fund VI

Understanding Your Fund Expenses

March 31, 2023 (Unaudited)

As a shareholder of First Trust NASDAQ Technology Dividend Index Fund, Multi-Asset Diversified Income Index Fund, First Trust S&P International Dividend Aristocrats ETF, First Trust BuyWrite Income ETF, First Trust Nasdaq BuyWrite Income ETF, First Trust Rising Dividend Achievers ETF, First Trust Dorsey Wright Focus 5 ETF, First Trust RBA American Industrial Renaissance^® ETF, First Trust Dorsey Wright Momentum & Dividend ETF, First Trust Dorsey Wright International Focus 5 ETF, First Trust Dorsey Wright Dynamic Focus 5 ETF, First Trust Indxx Innovative Transaction & Process ETF, First Trust Nasdaq Artificial Intelligence and Robotics ETF, or First Trust International Developed Capital Strength ETF (each a “Fund” and collectively, the “Funds”), you incur two types of costs: (1) transaction costs; and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees, if any, and other Fund expenses. This Example is intended to help you understand your ongoing costs of investing in the Funds and to compare these costs with the ongoing costs (in U.S. dollars) 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 March 31, 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 October 1, 2022	Ending Account Value March 31, 2023	Annualized Expense Ratio Based on the Six-Month Period	Expenses Paid During the Six-Month Period (a)
First Trust NASDAQ Technology Dividend Index Fund (TDIV)
Actual	$1,000.00	$1,255.30	0.50%	$2.81
Hypothetical (5% return before expenses)	$1,000.00	$1,022.44	0.50%	$2.52
Multi-Asset Diversified Income Index Fund (MDIV) (b) (c)
Actual	$1,000.00	$1,051.30	0.48%	$2.45
Hypothetical (5% return before expenses)	$1,000.00	$1,022.54	0.48%	$2.42
First Trust S&P International Dividend Aristocrats ETF (FID)
Actual	$1,000.00	$1,161.80	0.60%	$3.23
Hypothetical (5% return before expenses)	$1,000.00	$1,021.94	0.60%	$3.02
First Trust BuyWrite Income ETF (FTHI)
Actual	$1,000.00	$1,143.80	0.85%	$4.54
Hypothetical (5% return before expenses)	$1,000.00	$1,020.69	0.85%	$4.28
First Trust Nasdaq BuyWrite Income ETF (FTQI)
Actual	$1,000.00	$1,141.40	0.85%	$4.54
Hypothetical (5% return before expenses)	$1,000.00	$1,020.69	0.85%	$4.28

Page 34

First Trust Exchange-Traded Fund VI

Understanding Your Fund Expenses (Continued)

March 31, 2023 (Unaudited)

	Beginning Account Value October 1, 2022	Ending Account Value March 31, 2023	Annualized Expense Ratio Based on the Six-Month Period	Expenses Paid During the Six-Month Period (a)
First Trust Rising Dividend Achievers ETF (RDVY)
Actual	$1,000.00	$1,171.20	0.49%	$2.65
Hypothetical (5% return before expenses)	$1,000.00	$1,022.49	0.49%	$2.47
First Trust Dorsey Wright Focus 5 ETF (FV) (b)
Actual	$1,000.00	$1,107.10	0.30%	$1.58
Hypothetical (5% return before expenses)	$1,000.00	$1,023.44	0.30%	$1.51
First Trust RBA American Industrial Renaissance® ETF (AIRR)
Actual	$1,000.00	$1,259.00	0.70%	$3.94
Hypothetical (5% return before expenses)	$1,000.00	$1,021.44	0.70%	$3.53
First Trust Dorsey Wright Momentum & Dividend ETF (DDIV)
Actual	$1,000.00	$1,059.20	0.60%	$3.08
Hypothetical (5% return before expenses)	$1,000.00	$1,021.94	0.60%	$3.02
First Trust Dorsey Wright International Focus 5 ETF (IFV) (b)
Actual	$1,000.00	$1,078.50	0.30%	$1.55
Hypothetical (5% return before expenses)	$1,000.00	$1,023.44	0.30%	$1.51
First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) (b)
Actual	$1,000.00	$998.20	0.30%	$1.49
Hypothetical (5% return before expenses)	$1,000.00	$1,023.44	0.30%	$1.51
First Trust Indxx Innovative Transaction & Process ETF (LEGR)
Actual	$1,000.00	$1,239.40	0.65%	$3.63
Hypothetical (5% return before expenses)	$1,000.00	$1,021.69	0.65%	$3.28
First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT)
Actual	$1,000.00	$1,268.60	0.65%	$3.68
Hypothetical (5% return before expenses)	$1,000.00	$1,021.69	0.65%	$3.28
First Trust International Developed Capital Strength ETF (FICS)
Actual	$1,000.00	$1,220.00	0.70%	$3.87
Hypothetical (5% return before expenses)	$1,000.00	$1,021.44	0.70%	$3.53

    

(a)	Expenses are equal to the annualized expense ratios as indicated in the table multiplied by the average account value over the period (October 1, 2022 through March 31, 2023), multiplied by 182/365 (to reflect the six-month period).
(b)	Annualized expense ratio and expenses paid during the six-month period do not include fees and expenses of the underlying funds in which the Fund invests.
(c)	MDIV expense ratios reflect an expense waiver. See Note 3 in the Notes to Financial Statements.

Page 35

First Trust NASDAQ Technology Dividend Index Fund (TDIV)

Portfolio of Investments

March 31, 2023 (Unaudited)

First Trust NASDAQ Technology Dividend Index Fund (TDIV)

Portfolio of Investments (Continued)

March 31, 2023 (Unaudited)

---

Multi-Asset Diversified Income Index Fund (MDIV)

Portfolio of Investments

March 31, 2023 (Unaudited)

Shares/ Units		Description		Value
EXCHANGE-TRADED FUNDS – 21.0%
		Capital Markets – 21.0%
2,284,925		First Trust Tactical High Yield ETF (a)		$90,848,618
		(Cost $108,928,601)
MASTER LIMITED PARTNERSHIPS – 20.4%
		Energy Equipment & Services – 1.0%
211,557		USA Compression Partners, L.P.		4,470,200
		Industrial Conglomerates – 1.4%
120,703		Icahn Enterprises, L.P.		6,241,552
		Marine Transportation – 0.1%
11,952		Navios Maritime Partners, L.P.		288,282
		Oil, Gas & Consumable Fuels – 17.9%
178,880		Alliance Resource Partners, L.P.		3,608,009
300,857		Black Stone Minerals, L.P.		4,720,446
68,755		Cheniere Energy Partners, L.P.		3,253,487
171,899		Crestwood Equity Partners, L.P.		4,285,442
189,323		CrossAmerica Partners, L.P.		4,068,551
68,018		Delek Logistics Partners, L.P.		3,225,413
181,620		Dorchester Minerals, L.P.		5,501,270
259,610		Energy Transfer, L.P.		3,237,337
140,941		EnLink Midstream, LLC (b)		1,527,800
127,220		Enterprise Products Partners, L.P.		3,294,998
114,539		Global Partners, L.P.		3,553,000
179,201		Holly Energy Partners, L.P.		3,112,721
326,452		Kimbell Royalty Partners, L.P. (b)		4,971,864
64,114		Magellan Midstream Partners, L.P.		3,478,826
106,834		MPLX, L.P.		3,680,431
42,683		Natural Resource Partners, L.P.		2,228,053
267,087		NuStar Energy, L.P.		4,177,241
243,223		Plains All American Pipeline, L.P.		3,032,991
220,533		Plains GP Holdings, L.P., Class A (b)		2,893,393
66,392		Sunoco, L.P.		2,913,945
117,159		Viper Energy Partners, L.P. (b)		3,280,452
124,210		Western Midstream Partners, L.P.		3,275,418
				77,321,088
		Total Master Limited Partnerships		88,321,122
		(Cost $64,370,906)
REAL ESTATE INVESTMENT TRUSTS – 19.3%
		Diversified REITs – 1.3%
102,708		Essential Properties Realty Trust, Inc.		2,552,294
38,324		WP Carey, Inc.		2,968,194
				5,520,488
		Health Care REITs – 1.4%
113,819		Healthpeak Properties, Inc.		2,500,604
104,633		LTC Properties, Inc.		3,675,757
				6,176,361
		Hotel & Resort REITs – 0.7%
186,386		Apple Hospitality REIT, Inc.		2,892,711
		Mortgage REITs – 4.8%
428,953		Arbor Realty Trust, Inc.		4,928,670

Page 38

See Notes to Financial Statements

Multi-Asset Diversified Income Index Fund (MDIV)

Portfolio of Investments (Continued)

March 31, 2023 (Unaudited)

Shares/ Units		Description		Value
REAL ESTATE INVESTMENT TRUSTS (Continued)
		Mortgage REITs (Continued)
436,050		Ladder Capital Corp.		$4,120,672
642,053		Ready Capital Corp.		6,529,679
300,826		Starwood Property Trust, Inc.		5,321,612
				20,900,633
		Office REITs – 2.2%
50,366		Boston Properties, Inc.		2,725,808
89,936		Kilroy Realty Corp.		2,913,926
543,126		Piedmont Office Realty Trust, Inc., Class A		3,964,820
				9,604,554
		Retail REITs – 3.3%
115,366		Brixmor Property Group, Inc.		2,482,676
83,240		Getty Realty Corp.		2,999,137
63,709		National Retail Properties, Inc.		2,812,752
27,591		Simon Property Group, Inc.		3,089,364
145,926		Tanger Factory Outlet Centers, Inc.		2,864,528
				14,248,457
		Specialized REITs – 5.6%
19,350		Crown Castle, Inc.		2,589,804
119,285		EPR Properties		4,544,759
107,418		Four Corners Property Trust, Inc.		2,885,247
60,956		Gaming and Leisure Properties, Inc.		3,173,369
53,888		Iron Mountain, Inc.		2,851,214
28,149		Lamar Advertising Co., Class A		2,811,804
20,997		Life Storage, Inc.		2,752,497
82,081		VICI Properties, Inc.		2,677,482
				24,286,176
		Total Real Estate Investment Trusts		83,629,380
		(Cost $89,348,045)
COMMON STOCKS – 19.2%
		Banks – 5.3%
113,212		Brookline Bancorp, Inc.		1,188,726
422,821		Capitol Federal Financial, Inc.		2,845,585
27,906		Citigroup, Inc.		1,308,512
33,027		Citizens Financial Group, Inc.		1,003,030
47,285		Columbia Banking System, Inc.		1,012,845
50,180		First Hawaiian, Inc.		1,035,213
49,976		First Interstate BancSystem, Inc., Class A		1,492,283
122,804		Hope Bancorp, Inc.		1,205,935
96,600		Huntington Bancshares, Inc.		1,081,920
82,533		KeyCorp		1,033,313
277,564		New York Community Bancorp, Inc.		2,509,179
148,238		Northwest Bancshares, Inc.		1,783,303
45,588		Pacific Premier Bancorp, Inc.		1,095,024
63,458		Provident Financial Services, Inc.		1,217,125
44,219		Sandy Spring Bancorp, Inc.		1,148,810
31,856		Truist Financial Corp.		1,086,290
28,639		US Bancorp		1,032,436
				23,079,529
		Biotechnology – 0.3%
9,092		AbbVie, Inc.		1,448,992

See Notes to Financial Statements

Page 39

Multi-Asset Diversified Income Index Fund (MDIV)

Portfolio of Investments (Continued)

March 31, 2023 (Unaudited)

Shares/ Units		Description		Value
COMMON STOCKS (Continued)
		Capital Markets – 0.8%
47,638		Lazard Ltd., Class A		$1,577,294
97,942		Virtu Financial, Inc., Class A		1,851,104
				3,428,398
		Chemicals – 1.2%
29,864		Dow, Inc.		1,637,145
38,623		LyondellBasell Industries N.V., Class A		3,626,313
				5,263,458
		Consumer Staples Distribution & Retail – 0.4%
53,018		Walgreens Boots Alliance, Inc.		1,833,362
		Containers & Packaging – 0.4%
44,018		International Paper Co.		1,587,289
		Diversified Telecommunication Services – 1.0%
104,344		AT&T, Inc.		2,008,622
58,019		Verizon Communications, Inc.		2,256,359
				4,264,981
		Electric Utilities – 2.5%
25,134		ALLETE, Inc.		1,617,876
14,998		Duke Energy Corp.		1,446,857
22,523		Edison International		1,589,898
13,524		Entergy Corp.		1,457,076
42,494		OGE Energy Corp.		1,600,324
28,459		Portland General Electric Co.		1,391,360
23,077		Southern (The) Co.		1,605,698
				10,709,089
		Financial Services – 0.5%
185,346		Western Union (The) Co.		2,066,608
		Food Products – 0.3%
36,709		Kraft Heinz (The) Co.		1,419,537
		Gas Utilities – 0.3%
19,762		Spire, Inc.		1,386,107
		Household Durables – 0.4%
49,966		Leggett & Platt, Inc.		1,592,916
		Industrial Conglomerates – 0.4%
17,434		3M Co.		1,832,488
		Insurance – 0.9%
36,520		Fidelity National Financial, Inc.		1,275,644
16,734		Prudential Financial, Inc.		1,384,571
19,143		Safety Insurance Group, Inc.		1,426,536
				4,086,751
		IT Services – 0.4%
13,718		International Business Machines Corp.		1,798,293
		Leisure Products – 1.5%
31,150		Hasbro, Inc.		1,672,443
81,036		Sturm Ruger & Co., Inc.		4,654,708
				6,327,151

Page 40

See Notes to Financial Statements

Multi-Asset Diversified Income Index Fund (MDIV)

Portfolio of Investments (Continued)

March 31, 2023 (Unaudited)

Shares/ Units		Description		Value
COMMON STOCKS (Continued)
		Multi-Utilities – 0.4%
27,313		Dominion Energy, Inc.		$1,527,070
		Oil, Gas & Consumable Fuels – 0.3%
13,945		Phillips 66		1,413,744
		Specialty Retail – 0.3%
9,843		Advance Auto Parts, Inc.		1,197,007
		Tobacco – 1.6%
63,722		Altria Group, Inc.		2,843,276
41,468		Universal Corp.		2,193,242
168,571		Vector Group Ltd.		2,024,538
				7,061,056
		Total Common Stocks		83,323,826
		(Cost $89,165,883)

    

Shares		Description		Stated Rate		Stated Maturity		Value
$25 PAR PREFERRED SECURITIES – 19.4%
		Banks – 2.2%
133,271		Citigroup, Inc., Series J (c)		7.13%		(d)		3,335,773
129,771		Citigroup, Inc., Series K (c)		6.88%		(d)		3,217,023
125,245		Wells Fargo & Co., Series R (c)		6.63%		(d)		3,043,454
								9,596,250
		Capital Markets – 1.5%
132,852		Morgan Stanley, Series E (c)		7.13%		(d)		3,334,585
130,229		Morgan Stanley, Series F (c)		6.88%		(d)		3,216,657
								6,551,242
		Diversified Telecommunication Services – 1.3%
202,744		Qwest Corp.		6.50%		09/01/56		2,891,129
200,135		Qwest Corp.		6.75%		06/15/57		2,972,005
								5,863,134
		Financial Services – 2.1%
123,289		Apollo Asset Management, Inc., Class A		6.38%		(d)		2,601,398
125,641		Apollo Asset Management, Inc., Series B		6.38%		(d)		2,814,358
129,491		Citigroup Capital XIII, 3 Mo. LIBOR + 6.37% (e)		11.17%		10/30/40		3,695,673
								9,111,429
		Food Products – 0.9%
142,223		CHS, Inc., Series 1		7.88%		(d)		3,795,932
		Insurance – 0.6%
131,221		Axis Capital Holdings Ltd., Series E		5.50%		(d)		2,780,573
		Mortgage Real Estate Investment Trusts – 4.0%
142,125		AGNC Investment Corp., Series C, 3 Mo. LIBOR + 5.11% (e)		9.90%		(d)		3,342,780
156,332		AGNC Investment Corp., Series E (c)		6.50%		(d)		3,159,470
158,701		AGNC Investment Corp., Series F (c)		6.13%		(d)		3,096,256
193,873		Chimera Investment Corp., Series B (c)		8.00%		(d)		3,714,607
204,054		Two Harbors Investment Corp., Series B (c)		7.63%		(d)		4,158,620
								17,471,733

See Notes to Financial Statements

Page 41

Multi-Asset Diversified Income Index Fund (MDIV)

Portfolio of Investments (Continued)

March 31, 2023 (Unaudited)

Shares		Description		Stated Rate		Stated Maturity		Value
$25 PAR PREFERRED SECURITIES (Continued)
		Multi-Utilities – 0.7%
122,743		NiSource, Inc., Series B (c)		6.50%		(d)		$2,945,832
		Oil, Gas & Consumable Fuels – 2.6%
123,120		Enbridge, Inc., Series B (c)		6.38%		04/15/78		3,126,017
157,559		Energy Transfer L.P., Series E (c)		7.60%		(d)		3,809,776
164,613		NuStar Logistics L.P., 3 Mo. LIBOR + 6.73% (e)		11.53%		01/15/43		4,164,709
								11,100,502
		Real Estate Management & Development – 2.4%
179,872		DigitalBridge Group, Inc., Class H		7.13%		(d)		3,381,594
178,845		DigitalBridge Group, Inc., Series I		7.15%		(d)		3,430,247
180,471		DigitalBridge Group, Inc., Series J		7.13%		(d)		3,389,245
								10,201,086
		Trading Companies & Distributors – 1.1%
170,899		WESCO International, Inc., Series A (c)		10.63%		(d)		4,633,072
		Total $25 Par Preferred Securities						84,050,785
		(Cost $93,689,482)

    

	Total Investments – 99.3%		430,173,731
	(Cost $445,502,917)
	Net Other Assets and Liabilities – 0.7%		2,820,181
	Net Assets – 100.0%		$432,993,912

    

(a)	Investment in an affiliated fund.
(b)	This security is taxed as a “C” corporation for federal income tax purposes.
(c)	Fixed-to-floating or fixed-to-variable rate security. The interest rate shown reflects the fixed rate in effect at March 31, 2023. At a predetermined date, the fixed rate will change to a floating rate or a variable rate.
(d)	Perpetual maturity.
(e)	Floating rate security.

    

LIBOR

London Interbank Offered Rate

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of March 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

	Total Value at 3/31/2023	Level 1 Quoted Prices	Level 2 Significant Observable Inputs	Level 3 Significant Unobservable Inputs
Exchange-Traded Funds*	$ 90,848,618	$ 90,848,618	$ —	$ —
Master Limited Partnerships*	88,321,122	88,321,122	—	—
Real Estate Investment Trusts*	83,629,380	83,629,380	—	—
Common Stocks*	83,323,826	83,323,826	—	—
$25 Par Preferred Securities*	84,050,785	84,050,785	—	—
Total Investments	$ 430,173,731	$ 430,173,731	$—	$—

    

*	See Portfolio of Investments for industry breakout.

Page 42

See Notes to Financial Statements

First Trust S&P International Dividend Aristocrats ETF (FID)

Portfolio of Investments

March 31, 2023 (Unaudited)

First Trust S&P International Dividend Aristocrats ETF (FID)

Portfolio of Investments (Continued)

March 31, 2023 (Unaudited)

First Trust S&P International Dividend Aristocrats ETF (FID)

Portfolio of Investments (Continued)

March 31, 2023 (Unaudited)

---

First Trust BuyWrite Income ETF (FTHI)

Portfolio of Investments

March 31, 2023 (Unaudited)

Shares		Description		Value
COMMON STOCKS – 96.4%
		Aerospace & Defense – 1.3%
2,504		Boeing (The) Co. (a)		$531,925
2,551		HEICO Corp., Class A		346,681
1,124		Lockheed Martin Corp.		531,348
7,016		Raytheon Technologies Corp.		687,077
				2,097,031
		Air Freight & Logistics – 0.4%
3,403		United Parcel Service, Inc., Class B		660,148
		Automobiles – 2.0%
997		Ferrari N.V.		270,127
12,771		Stellantis N.V.		232,304
12,771		Tesla, Inc. (a)		2,649,472
				3,151,903
		Banks – 4.6%
32,968		Bank of America Corp.		942,885
8,973		Citigroup, Inc.		420,744
7,703		Commerce Bancshares, Inc.		449,470
10,368		First Hawaiian, Inc.		213,892
16,887		FNB Corp.		195,889
18,454		Fulton Financial Corp.		255,034
7,415		HDFC Bank, Ltd., ADR		494,358
4,198		Independent Bank Corp.		275,473
13,650		JPMorgan Chase & Co. (b)		1,778,731
7,696		Royal Bank of Canada		735,584
7,256		Texas Capital Bancshares, Inc. (a)		355,254
53,770		Valley National Bancorp		496,835
18,217		Wells Fargo & Co.		680,951
				7,295,100
		Beverages – 2.5%
8,586		Anheuser-Busch InBev S.A., ADR		572,944
18,645		Coca-Cola (The) Co.		1,156,549
15,964		Coca-Cola Europacific Partners PLC		944,909
6,742		PepsiCo, Inc.		1,229,067
				3,903,469
		Biotechnology – 1.7%
8,434		AbbVie, Inc. (b)		1,344,127
11,791		Agios Pharmaceuticals, Inc. (a)		270,839
2,608		Amgen, Inc.		630,484
6,133		Gilead Sciences, Inc.		508,855
				2,754,305
		Broadline Retail – 2.7%
41,527		Amazon.com, Inc. (a) (b)		4,289,324
		Capital Markets – 2.6%
9,505		Artisan Partners Asset Management, Inc., Class A		303,970
730		BlackRock, Inc.		488,458
7,541		Charles Schwab (The) Corp.		394,998
1,840		Evercore, Inc., Class A		212,299
1,631		Goldman Sachs Group (The), Inc.		533,516
22,794		Jefferies Financial Group, Inc.		723,481
11,164		Moelis & Co., Class A		429,144
6,191		Morgan Stanley		543,570