
FIRST TRUST

First Trust Exchange-Traded Fund VIII

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 S. Wacker Drive
Chicago, IL  60606

LEGAL COUNSEL
Chapman and Cutler LLP
320 South Canal Street
Chicago, IL 60606





[BLANK BACK COVER]

FIRST TRUST

First Trust Exchange-Traded Fund VIII

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First Trust Multi-Manager Large Growth ETF (MMLG)

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Semi-Annual Report
For the Six Months Ended
February 28, 2022
----------------------------

Wellington Management Company LLP
Sands Capital Management, LLC

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TABLE OF CONTENTS
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FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
SEMI-ANNUAL REPORT
FEBRUARY 28, 2022

Shareholder Letter........................................................... 1
Fund Performance Overview.................................................... 2
Portfolio Management......................................................... 4
Understanding Your Fund Expenses............................................. 5
Portfolio of Investments..................................................... 6
Statement of Assets and Liabilities.......................................... 9
Statement of Operations...................................................... 10
Statements of Changes in Net Assets.......................................... 11
Financial Highlights......................................................... 12
Notes to Financial Statements................................................ 13
Additional Information....................................................... 18

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/or Wellington Management Company LLP ("Wellington")
and/or Sands Capital Management, LLC ("Sands Capital") (each, a "Sub-Advisor"
and together, "Sub-Advisors") and their respective 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
the series of First Trust Exchange-Traded Fund VIII (the "Trust") described in
this report (First Trust Multi-Manager Large Growth ETF; hereinafter referred to
as the "Fund") 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/or Sub-Advisors and their respective 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 the Fund will achieve its investment objective. The
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 investing in the Fund. See "Risk Considerations" in the Additional
Information section of this report for a discussion of certain other risks of
investing in the Fund.

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 the Fund's webpage at www.ftportfolios.com.

HOW TO READ THIS REPORT

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

The statistical information that follows may help you understand the 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 and/or Sub-Advisors 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 the Fund are spelled out in the prospectus, the statement of
additional information, and other Fund regulatory filings.

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SHAREHOLDER LETTER
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FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
SEMI-ANNUAL LETTER FROM THE CHAIRMAN AND CEO
FEBRUARY 28, 2022

Dear Shareholders:

First Trust is pleased to provide you with the semi-annual report for the First
Trust Multi-Manager Large Growth ETF (the "Fund"), which contains detailed
information about the Fund for the six-month period ended February 28, 2022.

Interest rates, bond yields and inflation are trending higher in the U.S., and
perhaps what matters most is that all three are moving in tandem, which has not
happened for quite some time. To start, let us focus on bond yields, which, like
interest rates and inflation, have traded at or near their historic lows for
many years. Over the past decade, we have seen the yield on the 10-Year Treasury
Note ("T-Note") climb from its artificial lows to the 3.00% level on two
occasions only to have it reverse course soon thereafter. In 2013, the yield on
the benchmark government bond rose from 1.75% at the start of the year to 3.03%
at the close of trading on December 31, 2013. One year later it stood at 2.17%.
In 2018, the yield rose from 2.41% at the start of the year to a 2018 high of
3.24% on November 8, 2018. At the end of 2019, it yielded 1.92%. In 2022, it has
reached as high as 2.78% (on April 11), representing a significant move from
1.51% at the start of the year. The point is that we have endured substantial
upward moves in the yield on the 10-Year T-Note, but they were not sustained.

Short-term interest rates, as controlled by the Federal Reserve (the "Fed") via
its Federal Funds target rate, only accompanied bond yields higher in one of
those two instances. In 2013, bond yields rose but the Fed did not raise
short-term interest rates at all. In 2017 and 2018, the Fed executed multiple
interest rate hikes, but reversed course in 2019, undoing the entirety of its
2017-2018 tightening phase. On March 16, 2022, the Fed initiated a 25-basis
point ("bps") hike in the Federal Funds target rate. The median member of the
Federal Open Market Committee is signaling another six hikes, totaling 150 bps,
through year-end, according to Brian Wesbury, Chief Economist at First Trust.
That would equate to 175 bps in aggregate in 2022. The Fed also signaled it
could raise interest rates an additional 75-100 bps in 2023. So, for all intents
and purposes, unless something dramatic happens, such as an escalation of the
war between Russia and Ukraine, we believe interest rates are heading much
higher. With respect to inflation, as measured by the Consumer Price Index
("CPI"), it was essentially a non-event when bond yields rose in 2013 and 2018.
The year-over-year changes in the CPI in 2013 and 2018 were 1.5% and 1.9%,
respectively, according to data from the U.S. Bureau of Labor Statistics. The
CPI has averaged 3.0% per year since 1926. In February 2022, the CPI stood at
7.9%. The last time it was this high was 1982.

The current climate for interest rates, bond yields and inflation, indicates
that this time around could be different than what we experienced in 2013 and
2018. By that I mean that higher levels of all three might be sustainable.
Having said that, I do not believe that investors need to shift into panic mode.
The Fed's guidance is reassuring to us in that, as of now, it intends to raise
short-term interest rates slowly and methodically. While we believe the bond
market may be in for a bumpy ride over the next year or so, higher rates and
yields are not necessarily death knells for the stock market. In general, I
believe that investors should be able to make better decisions about where to
position their money moving forward thanks to the in-depth guidance from the
Fed. It could not be more transparent, in my opinion.

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 Fund
again in six months.

Sincerely,

/s/ James A. Bowen

James A. Bowen
Chairman of the Board of Trustees
Chief Executive Officer of First Trust Advisors L.P.

Page 1

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FUND PERFORMANCE OVERVIEW (UNAUDITED)
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FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)

The First Trust Multi-Manager Large Growth ETF (the "Fund") seeks to provide
long-term capital appreciation. Under normal market conditions, the Fund invests
at least 80% of its net assets (including investment borrowings) in equity
securities issued by large capitalization companies. The Fund considers large
capitalization companies to be those companies with market capitalizations
within the market capitalization range of the companies comprising the Russell
1000(R) Growth Index (as of the index's most recent reconstitution). The Fund's
portfolio is principally composed of common stocks issued by companies domiciled
in the United States, common stocks issued by non-U.S. companies that are
principally traded in the United States and American Depositary Receipts. The
Fund utilizes a multi-manager approach to provide exposure to the large
capitalization growth segment of the equity market through the blending of
multiple portfolio management teams. The Fund lists and principally trades its
shares on NYSE Arca, Inc. under the ticker symbol "MMLG."

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PERFORMANCE
---------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months Ended 1 Year Ended Inception (7/21/20) Inception (7/21/20)
2/28/22 2/28/22 to 2/28/22 to 2/28/22

FUND PERFORMANCE
NAV -19.60% -6.11% 8.99% 14.86%
Market Price -19.64% -6.20% 8.93% 14.75%

INDEX PERFORMANCE
Russell 1000(R) Index -3.88% 13.72% 21.68% 37.10%
Russell 1000(R) Growth Index -7.75% 12.55% 19.27% 32.76%
---------------------------------------------------------------------------------------------------------------------

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

The 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. Since shares of the
Fund did not trade in the secondary market until after its inception, for the
period from inception to the first day of secondary market trading in shares of
the Fund, the NAV of the 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 the Fund at NAV and Market Price,
respectively.

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. 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 index. 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 the
Fund will vary with changes in market conditions. Shares of the Fund may be
worth more or less than their original cost when they are redeemed or sold in
the market. The Fund's past performance is no guarantee of future performance.

Page 2

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FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
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FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG) (CONTINUED)

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% OF TOTAL
LONG-TERM
SECTOR CLASSIFICATION INVESTMENTS
----------------------------------------------------------
Information Technology 42.3%
Communication Services 17.7
Consumer Discretionary 15.4
Health Care 13.3
Industrials 7.1
Financials 1.5
Consumer Staples 1.2
Real Estate 1.0
Materials 0.5
--------
Total 100.0%
========

----------------------------------------------------------
% OF TOTAL
LONG-TERM
TOP TEN HOLDINGS INVESTMENTS
----------------------------------------------------------
Amazon.com, Inc. 6.1%
Microsoft Corp. 4.8
ServiceNow, Inc. 4.2
Apple, Inc. 3.9
Visa, Inc., Class A 3.7
Netflix, Inc. 3.5
Alphabet, Inc., Class A 3.4
Sea Ltd., ADR 2.6
Meta Platforms, Inc., Class A 2.6
Block, Inc. 2.3
--------
Total 37.1%
========

PERFORMANCE OF A $10,000 INITIAL INVESTMENT
JULY 21, 2020 - FEBRUARY 28, 2022

First Trust Multi-Manager Russell 1000(R) Russell 1000(R)
Large Growth ETF Index Growth Index

1/3/19 $10,000 $10,000 $10,000
8/31/20 11,018 10,785 11,198
2/28/21 12,233 12,056 11,796
8/31/21 14,285 14,264 14,392
2/28/22 11,485 13,711 13,277

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 3

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PORTFOLIO MANAGEMENT
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FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
SEMI-ANNUAL REPORT
FEBRUARY 28, 2022 (UNAUDITED)

ADVISOR

First Trust Advisors L.P. ("First Trust" or the "Advisor") is the investment
advisor to the First Trust Multi-Manager Large Growth ETF ("MMLG" or the
"Fund"). The following serve as investment sub-advisors (each, a "Sub-Advisor")
to the Fund: Wellington Management Company LLP ("Wellington") and Sands Capital
Management, LLC ("Sands Capital"). First Trust is responsible for the ongoing
monitoring of the Fund's investment portfolio, selecting and overseeing the
investment sub-advisors, managing the Fund's business affairs and providing
certain administrative services necessary for the management of the Fund.

PORTFOLIO MANAGEMENT TEAM

THE ADVISOR'S INVESTMENT COMMITTEE, WHICH MANAGES THE FUND'S INVESTMENTS,
CONSISTS OF:
o Daniel J. Lindquist, Managing Director of First Trust
o Jon C. Erickson, Senior Vice President of First Trust
o David G. McGarel, Chief Investment Officer, Chief Operating Officer and
Managing Director of First Trust
o Roger F. Testin, Senior Vice President of First Trust
o Stan Ueland, Senior Vice President of First Trust
o Chris A. Peterson, CFA, Senior Vice President of First Trust
o Erik Russo, Vice President of First Trust

SUB-ADVISOR PORTFOLIO MANAGERS
WELLINGTON
o Douglas W. McLane, CFA, Senior Managing Director, Partner and Equity
Portfolio Manager

SANDS CAPITAL
o Frank M. Sands, CFA, Chief Investment Officer and Chief Executive Officer
o Michael A. Sramek, CFA, Senior Portfolio Manager, Research Analyst and
Managing Director
o Wesley A. Johnston, CFA, Portfolio Manager and Senior Research Analyst
o Thomas H. Trentman, CFA, Portfolio Manager and Senior Research Analyst

Page 4

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
UNDERSTANDING YOUR FUND EXPENSES
FEBRUARY 28, 2022 (UNAUDITED)

As a shareholder of First Trust Multi-Manager Large Growth ETF (the "Fund"), 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 Fund 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 February 28, 2022.

ACTUAL EXPENSES

The first line in the following table provides information about actual account
values and actual expenses. You may use the information in this line, together
with the amount you invested, to estimate the expenses that you paid over the
period. Simply divide your account value by $1,000 (for example, an $8,600
account value divided by $1,000 = 8.6), then multiply the result by the number
in the first line under the heading entitled "Expenses Paid During the Six-Month
Period" to estimate the expenses you paid on your account during this six-month
period.

HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES

The second line in the following table provides information about hypothetical
account values and hypothetical expenses based on the Fund's actual expense
ratio and an assumed rate of return of 5% per year before expenses, which is not
the 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 Fund 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.

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ANNUALIZED
EXPENSE RATIO EXPENSES PAID
BEGINNING ENDING BASED ON THE DURING THE
ACCOUNT VALUE ACCOUNT VALUE SIX-MONTH SIX-MONTH
SEPTEMBER 1, 2021 FEBRUARY 28, 2022 PERIOD PERIOD (a)
----------------------------------------------------------------------------------------------------------------------

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
Actual $1,000.00 $ 804.00 0.85% $3.80
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26

(a) Expenses are equal to the annualized expense ratio as indicated in the
table multiplied by the average account value over the period (September
1, 2021 through February 28, 2022), multiplied by 181/365 (to reflect the
six-month period).

Page 5

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)

PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2022 (UNAUDITED)

SHARES DESCRIPTION VALUE
---------------------------------------------------------------------
COMMON STOCKS -- 98.8%
AEROSPACE & DEFENSE -- 0.7%
6,230 Raytheon Technologies Corp. $ 639,821
-------------
AIR FREIGHT & LOGISTICS -- 0.4%
1,787 FedEx Corp. 397,196
-------------
AUTOMOBILES -- 1.0%
1,135 Tesla, Inc. (a) 987,938
-------------
BEVERAGES -- 1.2%
2,395 Constellation Brands, Inc., Class A 516,410
6,993 Monster Beverage Corp. (a) 590,209
-------------
1,106,619
-------------
BIOTECHNOLOGY -- 1.3%
12,390 Sarepta Therapeutics, Inc. (a) 949,198
2,479 Seagen, Inc. (a) 319,469
-------------
1,268,667
-------------
BUILDING PRODUCTS -- 0.7%
4,578 Fortune Brands Home & Security,
Inc. 397,828
4,110 Johnson Controls International
PLC 266,986
-------------
664,814
-------------
CHEMICALS -- 0.5%
1,964 Sherwin-Williams (The) Co. 516,787
-------------
COMMERCIAL SERVICES & SUPPLIES
-- 0.4%
3,317 Republic Services, Inc. 398,969
-------------
COMMUNICATIONS EQUIPMENT
-- 0.7%
2,838 Motorola Solutions, Inc. 625,580
-------------
CONSTRUCTION & ENGINEERING
-- 0.4%
11,183 WillScot Mobile Mini Holdings
Corp. (a) 397,332
-------------
CONSUMER FINANCE -- 0.9%
4,433 American Express Co. 862,396
-------------
ELECTRONIC EQUIPMENT, INSTRUMENTS
& COMPONENTS -- 1.4%
3,371 CDW Corp. 581,362
5,062 Cognex Corp. 341,989
9,678 Corning, Inc. 390,991
-------------
1,314,342
-------------
ENTERTAINMENT -- 7.5%
8,255 Netflix, Inc. (a) 3,256,763
16,941 Sea Ltd., ADR (a) 2,466,610
2,866 Walt Disney (The) Co. (a) 425,486
26,765 Warner Music Group Corp.,
Class A 969,428
-------------
7,118,287
-------------

SHARES DESCRIPTION VALUE
---------------------------------------------------------------------
EQUITY REAL ESTATE INVESTMENT
TRUSTS -- 1.0%
2,061 Alexandria Real Estate Equities,
Inc. $ 390,353
6,967 Equity LifeStyle Properties, Inc. 519,878
-------------
910,231
-------------
HEALTH CARE EQUIPMENT &
SUPPLIES -- 5.9%
3,454 Align Technology, Inc. (a) 1,766,583
6,804 Baxter International, Inc. 578,136
3,052 Dexcom, Inc. (a) 1,263,253
9,750 Edwards Lifesciences Corp. (a) 1,095,608
6,389 Hologic, Inc. (a) 454,705
1,303 Teleflex, Inc. 438,212
-------------
5,596,497
-------------
HEALTH CARE PROVIDERS & SERVICES
-- 2.0%
1,310 Laboratory Corp. of America
Holdings (a) 355,350
26,699 R1 RCM, Inc. (a) 725,946
1,832 UnitedHealth Group, Inc. 871,794
-------------
1,953,090
-------------
HOTELS, RESTAURANTS & LEISURE
-- 3.2%
9,600 Airbnb, Inc., Class A (a) 1,454,304
324 Booking Holdings, Inc. (a) 703,809
449 Chipotle Mexican Grill, Inc. (a) 683,984
4,707 Penn National Gaming, Inc. (a) 241,705
-------------
3,083,802
-------------
INSURANCE -- 0.6%
2,963 Chubb Ltd. 603,385
-------------
INTERACTIVE MEDIA & SERVICES
-- 8.7%
1,181 Alphabet, Inc., Class A (a) 3,190,046
324 Alphabet, Inc., Class C (a) 874,094
15,941 Match Group, Inc. (a) 1,777,262
11,538 Meta Platforms, Inc., Class A (a) 2,434,864
-------------
8,276,266
-------------
INTERNET & DIRECT MARKETING
RETAIL -- 7.2%
1,886 Amazon.com, Inc. (a) 5,792,396
7,586 DoorDash, Inc., Class A (a) 796,151
3,819 Fiverr International Ltd. (a) 301,357
-------------
6,889,904
-------------
IT SERVICES -- 14.7%
17,010 Block, Inc. (a) 2,168,775
11,939 Cloudflare, Inc., Class A (a) 1,389,938
4,326 Concentrix Corp. 864,724
898 EPAM Systems, Inc. (a) 186,559
3,248 Fidelity National Information
Services, Inc. 309,307
1,918 FleetCor Technologies, Inc. (a) 449,196

Page 6 See Notes to Financial Statements

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)

PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2022 (UNAUDITED)

SHARES DESCRIPTION VALUE
---------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
IT SERVICES (CONTINUED)
3,183 Global Payments, Inc. $ 424,549
3,544 Mastercard, Inc., Class A 1,278,746
1,243 Shopify, Inc., Class A (a) 862,965
4,589 Snowflake, Inc., Class A (a) 1,219,114
8,035 Twilio, Inc., Class A (a) 1,404,518
16,071 Visa, Inc., Class A 3,473,265
-------------
14,031,656
-------------
LIFE SCIENCES TOOLS & SERVICES
-- 1.5%
3,927 10X Genomics, Inc., Class A (a) 319,933
1,717 Danaher Corp. 471,162
1,263 Thermo Fisher Scientific, Inc. 687,072
-------------
1,478,167
-------------
MACHINERY -- 0.8%
2,037 Deere & Co. 733,361
-------------
MEDIA -- 1.3%
2,111 Charter Communications, Inc.,
Class A (a) 1,270,358
-------------
PHARMACEUTICALS -- 2.3%
3,992 Eli Lilly & Co. 997,800
6,367 Zoetis, Inc. 1,232,970
-------------
2,230,770
-------------
PROFESSIONAL SERVICES -- 1.7%
19,391 CoStar Group, Inc. (a) 1,183,045
2,109 Equifax, Inc. 460,479
-------------
1,643,524
-------------
ROAD & RAIL -- 1.9%
50,071 Uber Technologies, Inc. (a) 1,804,058
-------------
SEMICONDUCTORS & SEMICONDUCTOR
EQUIPMENT -- 4.0%
6,777 Advanced Micro Devices, Inc. (a) 835,875
4,555 Entegris, Inc. 594,337
9,534 Marvell Technology, Inc. 651,458
3,739 NVIDIA Corp. 911,755
4,964 Texas Instruments, Inc. 843,830
-------------
3,837,255
-------------
SOFTWARE -- 16.7%
2,607 Adobe, Inc. (a) 1,219,242
4,985 Atlassian Corp. PLC, Class A (a) 1,524,014
3,168 Avalara, Inc. (a) 329,187
3,812 Intuit, Inc. 1,808,298
15,265 Microsoft Corp. 4,561,029
1,061 Palo Alto Networks, Inc. (a) 630,499
980 Paycom Software, Inc. (a) 332,426
4,185 salesforce.com, Inc. (a) 881,068
6,752 ServiceNow, Inc. (a) 3,915,620
3,090 Workday, Inc., Class A (a) 707,765
-------------
15,909,148
-------------

SHARES DESCRIPTION VALUE
---------------------------------------------------------------------
SPECIALTY RETAIL -- 2.4%
2,780 Carvana Co. (a) $ 418,307
9,559 Floor & Decor Holdings, Inc.,
Class A (a) 914,031
14,333 TJX (The) Cos., Inc. 947,411
-------------
2,279,749
-------------
TECHNOLOGY HARDWARE, STORAGE &
PERIPHERALS -- 4.4%
22,318 Apple, Inc. 3,685,148
6,215 NetApp, Inc. 487,132
-------------
4,172,280
-------------
TEXTILES, APPAREL & LUXURY GOODS
-- 1.4%
1,716 Lululemon Athletica, Inc. (a) 549,017
5,628 NIKE, Inc., Class B 768,503
-------------
1,317,520
-------------
TOTAL COMMON STOCKS -- 98.8% 94,319,769
(Cost $108,868,188) -------------

MONEY MARKET FUNDS -- 1.2%
1,147,250 Morgan Stanley Institutional Liquidity
Funds - Treasury Portfolio -
Institutional Class -
0.01% (b) 1,147,250
(Cost $1,147,250) -------------

TOTAL INVESTMENTS -- 100.0% 95,467,019
(Cost $110,015,438)
NET OTHER ASSETS AND
LIABILITIES -- (0.0)% (21,676)
-------------
NET ASSETS -- 100.0% $ 95,445,343
=============

(a) Non-income producing security.

(b) Rate shown reflects yield as of February 28, 2022.

ADR - American Depositary Receipt

See Notes to Financial Statements Page 7

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)

PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2022 (UNAUDITED)

-----------------------------

VALUATION INPUTS

A summary of the inputs used to value the Fund's investments as of February 28,
2022 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):

LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2022 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------

Common Stocks*......................................... $ 94,319,769 $ 94,319,769 $ -- $ --
Money Market Funds..................................... 1,147,250 1,147,250 -- --
-------------- -------------- -------------- --------------
Total Investments...................................... $ 95,467,019 $ 95,467,019 $ -- $ --
============== ============== ============== ==============

* See Portfolio of Investments for industry breakout.

Page 8 See Notes to Financial Statements

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
STATEMENT OF ASSETS AND LIABILITIES
FEBRUARY 28, 2022 (UNAUDITED)

ASSETS:
Investments, at value.................................................. $ 95,467,019
Dividends receivable................................................... 43,397
---------------
Total Assets........................................................ 95,510,416
---------------
LIABILITIES:
Investment advisory fees payable....................................... 65,073
---------------
Total Liabilities................................................... 65,073
---------------
NET ASSETS............................................................. $ 95,445,343
===============
NET ASSETS CONSIST OF:
Paid-in capital........................................................ $ 111,568,200
Par value.............................................................. 42,000
Accumulated distributable earnings (loss).............................. (16,164,857)
---------------
NET ASSETS............................................................. $ 95,445,343
===============
NET ASSET VALUE, per share............................................. $ 22.73
===============
Number of shares outstanding (unlimited number of shares
authorized, par value $0.01 per share).............................. 4,200,002
===============
Investments, at cost................................................... $ 110,015,438
===============

See Notes to Financial Statements Page 9

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
STATEMENT OF OPERATIONS
FOR THE SIX MONTHS ENDED FEBRUARY 28, 2022 (UNAUDITED)

INVESTMENT INCOME:
Dividends.............................................................. $ 245,252
---------------
Total investment income............................................. 245,252
---------------
EXPENSES:
Investment advisory fees............................................... 624,342
---------------
Total expenses...................................................... 624,342
---------------
NET INVESTMENT INCOME (LOSS)........................................... (379,090)
---------------
NET REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments......................................................... (2,004,849)
In-kind redemptions................................................. 1,393,102
---------------
Net realized gain (loss) on investments................................ (611,747)
---------------
Net change in unrealized appreciation (depreciation) on investments.... (29,939,816)
---------------
NET REALIZED AND UNREALIZED GAIN (LOSS)................................ (30,551,563)
---------------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING
FROM OPERATIONS..................................................... $ (30,930,653)
===============

Page 10 See Notes to Financial Statements

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
STATEMENTS OF CHANGES IN NET ASSETS

SIX MONTHS
ENDED YEAR
2/28/2022 ENDED
(UNAUDITED) 8/31/2021
--------------- ---------------

OPERATIONS:
Net investment income (loss)......................................................... $ (379,090) $ (192,447)
Net realized gain (loss)............................................................. (611,747) 1,419,102
Net change in unrealized appreciation (depreciation)................................. (29,939,816) 15,190,009
--------------- ---------------
Net increase (decrease) in net assets resulting from operations...................... (30,930,653) 16,416,664
--------------- ---------------
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Investment operations................................................................ -- (6,060)
--------------- ---------------
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold............................................................ 5,701,583 164,222,162
Cost of shares redeemed.............................................................. (50,330,424) (11,813,486)
--------------- ---------------
Net increase (decrease) in net assets resulting from shareholder transactions........ (44,628,841) 152,408,676
--------------- ---------------
Total increase (decrease) in net assets.............................................. (75,559,494) 168,819,280

NET ASSETS:
Beginning of period.................................................................. 171,004,837 2,185,557
--------------- ---------------
End of period........................................................................ $ 95,445,343 $ 171,004,837
=============== ===============
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period.............................................. 6,050,002 100,002
Shares sold.......................................................................... 200,000 6,400,000
Shares redeemed...................................................................... (2,050,000) (450,000)
--------------- ---------------
Shares outstanding, end of period.................................................... 4,200,002 6,050,002
=============== ===============

See Notes to Financial Statements Page 11

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD

SIX MONTHS
ENDED YEAR PERIOD
2/28/2022 ENDED ENDED
(UNAUDITED) 8/31/2021 8/31/2020 (a)
-------------- -------------- --------------

Net asset value, beginning of period........................... $ 28.27 $ 21.86 $ 19.84
-------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.10) 0.01 (0.00) (b)
Net realized and unrealized gain (loss)........................ (5.44) 6.46 2.02
-------- -------- --------
Total from investment operations............................... (5.54) 6.47 2.02
-------- -------- --------
DISTRIBUTIONS PAID TO SHAREHOLDERS FROM:
Net investment income.......................................... -- (0.04) --
Net realized gain.............................................. -- (0.02) --
-------- -------- --------
Total distributions............................................ -- (0.06) --
-------- -------- --------
Net asset value, end of period................................. $ 22.73 $ 28.27 $ 21.86
======== ======== ========
TOTAL RETURN (c)............................................... (19.60)% 29.65% 10.18%

RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $ 95,445 $171,005 $ 2,186
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (d) 0.85% 0.85% (d)
Ratio of net investment income (loss) to average net assets.... (0.52)% (d) (0.49)% (0.21)% (d)
Portfolio turnover rate (e).................................... 12% 21% 2%

(a) Inception date is July 21, 2020, which is consistent with the commencement
of investment operations and is the date the initial creation units were
established.

(b) Amount is less than $0.01.

(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.

Page 12 See Notes to Financial Statements

--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
--------------------------------------------------------------------------------

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
FEBRUARY 28, 2022 (UNAUDITED)

1. ORGANIZATION

First Trust Exchange-Traded Fund VIII (the "Trust") is an open-end management
investment company organized as a Massachusetts business trust on February 22,
2016, 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 fifty-five funds that are offering shares. This
report covers the First Trust Multi-Manager Large Growth ETF (the "Fund"), which
trades under the ticker "MMLG" on the NYSE Arca, Inc. ("NYSE Arca"). The Fund
represents a separate series of shares of beneficial interest in the Trust.
Unlike conventional mutual funds, the 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 Fund is an actively managed exchange-traded fund. The Fund seeks to provide
long-term capital appreciation. Under normal market conditions, the Fund invests
at least 80% of its net assets (including investment borrowings) in equity
securities issued by large capitalization companies. The Fund considers large
capitalization companies to be those companies with market capitalizations
within the market capitalization range of the companies comprising the Russell
1000(R) Growth Index (as of the index's most recent reconstitution). The Fund's
portfolio is principally composed of common stocks issued by companies domiciled
in the United States, common stocks issued by non-U.S. companies that are
principally traded in the United States and American Depositary Receipts. The
Fund utilizes a multi-manager approach to provide exposure to the large
capitalization growth segment of the equity market through the blending of
multiple portfolio management teams. There can be no assurance that the Fund
will achieve its investment objective. The Fund may not be appropriate for all
investors.

2. SIGNIFICANT ACCOUNTING POLICIES

The Fund is considered an investment company and follows 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 Fund 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 ("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

The 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. The Fund's NAV is calculated 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 shares outstanding.

The 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 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 Advisor's Pricing Committee in
accordance with valuation procedures adopted by the Trust's Board of Trustees,
and in accordance with provisions of the 1940 Act. Investments valued by the
Advisor's Pricing Committee, if any, are footnoted as such in the footnotes to
the Portfolio of Investments. The Fund's investments are valued as follows:

Common stocks and other equity securities listed on any national or
foreign exchange (excluding The Nasdaq Stock Market LLC ("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 principal market for such securities.

Securities traded in an over-the-counter market are fair valued at the
mean of their most recent bid and asked price, if available, and otherwise
at their closing bid price.

Shares of open-end funds are valued at fair value which is based on NAV
per share.

Certain securities may not be able to be priced by pre-established pricing
methods. Such securities may be valued by the Trust's Board of Trustees or its
delegate, 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

Page 13

--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
FEBRUARY 28, 2022 (UNAUDITED)

materially affect the value of the security after the market has closed but
before the calculation of the 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 type of security;

2) the size of the holding;

3) the initial cost of the security;

4) transactions in comparable securities;

5) price quotes from dealers and/or third-party pricing services;

6) relationships among various securities;

7) information obtained by contacting the issuer, analysts, or the
appropriate stock exchange;

8) an analysis of the issuer's financial statements; and

9) the existence of merger proposals or tender offers that might affect
the value of the security.

The Fund is 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:

o 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.

o 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.

o 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 the Fund's investments as of February 28, 2022, is
included with the 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.

C. DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS

Dividends from net investment income, if any, are declared and paid quarterly by
the Fund, or as the Board of Trustees may determine from time to time.
Distributions of net realized gains earned by the Fund, if any, are distributed
at least annually.

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 portfolio securities held by the Fund 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.

The tax character of distributions paid during the fiscal year ended August 31,
2021 was as follows:

Distributions paid from:
Ordinary income............................... $ 6,060
Capital gains................................. --
Return of capital............................. --

Page 14

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
FEBRUARY 28, 2022 (UNAUDITED)

As of August 31, 2021, the components of distributable earnings on a tax basis
for the Fund were as follows:

Undistributed ordinary income................. $ (189,729)
Accumulated capital and other gain (loss)..... (131,563)
Net unrealized appreciation (depreciation).... 15,087,088

D. INCOME TAXES

The 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, the Fund may be subject to an excise tax of
4% of the amount by which approximately 98% of the Fund's taxable income exceeds
the distributions from such taxable income for the calendar year.

The Fund is 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 and
2021 remain open to federal and state audit. As of February 28, 2022, management
has evaluated the application of these standards to the Fund and has determined
that no provision for income tax is required in the Fund's financial statements
for uncertain tax positions.

The 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.
The 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 August 31, 2021, the
Fund had no capital loss carryforwards for federal income tax purposes.

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 August 31, 2021, the Fund
incurred and elected to defer net late year ordinary or capital losses as
follows:

Qualified Late Year Losses
-----------------------------------------
Ordinary Losses Capital Losses
---------------- --------------
$ 189,729 $ 131,563

As of February 28, 2022, 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:

Gross Gross Net Unrealized
Unrealized Unrealized Appreciation
Tax Cost Appreciation (Depreciation) (Depreciation)
-------------- -------------- -------------- --------------
$ 110,015,438 $ 3,453,353 $ (18,001,772) $ (14,548,419)

E. EXPENSES

Expenses, other than the investment advisory fee and other excluded expenses,
are paid by the Advisor (see Note 3).

3. INVESTMENT ADVISORY FEE, AFFILIATED TRANSACTIONS AND OTHER FEE ARRANGEMENTS

First Trust, the investment advisor to the Fund, 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 ongoing monitoring of the securities in the Fund's
portfolio, managing the Fund's business affairs and providing certain
administrative services necessary for the management of the Fund.

Pursuant to the Investment Management Agreement between the Trust and the
Advisor, First Trust manages the Fund's portfolio based on recommendations
provided by the Sub-Advisors (defined below) and is responsible for the expenses
of the Fund including the cost of transfer agency, sub-advisory, custody, fund
administration, legal, audit and other services and license fees (if any), but
excluding fee payments under the Investment Management Agreement, interest,
taxes, acquired fund fees and expenses, if any, brokerage commissions and other
expenses connected with the execution of portfolio transactions, distribution
and service fees payable pursuant to a Rule 12b-1 plan, if any, and
extraordinary expenses, which are paid by the Fund. The Fund has agreed to pay
First Trust an annual management fee equal to 0.85% of its average daily net
assets.

Page 15

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
FEBRUARY 28, 2022 (UNAUDITED)

The Fund utilizes a multi-manager structure. The Trust, on behalf of the Fund,
and First Trust have retained Wellington Management Company LLP ("Wellington")
and Sands Capital Management, LLC ("Sands Capital") (each, a "Sub-Advisor" and
together, "Sub-Advisors"), to serve as non-discretionary investment sub-advisors
to the Fund pursuant to sub-advisory agreements (the "Sub-Advisory Agreements").
In this capacity, Wellington and Sands Capital are each responsible for
providing recommendations to First Trust regarding the selection and allocation
of the securities in the portion of the Fund's portfolio they have been
allocated by First Trust. Pursuant to the Sub-Advisory Agreements, First Trust
has agreed to pay for the services and facilities provided by the Sub-Advisors
through sub-advisory fees equal in the aggregate to an annual rate of 0.30% of
the average daily net assets of the Fund (i.e., for each sub-advisor, 0.30% of
the average daily net assets of the portion of the Fund's assets allocated to
that sub-advisor). Each Sub-Advisor's fees are paid by First Trust out of First
Trust's management fee.

The Trust has multiple service agreements with The Bank of New York Mellon
("BNYM"). Under the service agreements, BNYM performs custodial, fund
accounting, certain administrative services, and transfer agency services for
the Fund. As custodian, BNYM is responsible for custody of the Fund's assets. As
fund accountant and administrator, BNYM is responsible for maintaining the books
and records of the Fund's securities and cash. As transfer agent, BNYM is
responsible for maintaining shareholder records for the 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 defined-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 six months ended February 28, 2022, the cost of purchases and proceeds
from sales of investments, excluding short-term investments and in-kind
transactions, were $18,749,642 and $17,610,569, respectively.

For the six months ended February 28, 2022, the cost of in-kind purchases and
proceeds from in-kind sales were $5,585,783 and $49,527,910, respectively.

5. CREATIONS, REDEMPTIONS AND TRANSACTION FEES

The 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 the 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, the Fund publishes through the National Securities
Clearing Corporation ("NSCC") 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 the 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 the 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 the Fund's
shares and underlying securities provides arbitrage opportunities that are
designed to help keep the market price of the Fund's shares at or close to the
NAV per share of the Fund.

The 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 the Fund times the number of shares

Page 16

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
FEBRUARY 28, 2022 (UNAUDITED)

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.

The 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 the 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 the 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 Fund is
authorized to pay an amount up to 0.25% of its average daily net assets each
year to reimburse First Trust Portfolios L.P. ("FTP"), the distributor of the
Fund, 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 Fund, and pursuant to a contractual
arrangement, no 12b-1 fees will be paid any time before December 31, 2022.

7. INDEMNIFICATION

The Trust, on behalf of the Fund, 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 Fund 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 17

--------------------------------------------------------------------------------
ADDITIONAL INFORMATION
--------------------------------------------------------------------------------

FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
FEBRUARY 28, 2022 (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 the 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
the Fund's website at www.ftportfolios.com; and (3) on the Securities and
Exchange Commission's ("SEC") website at www.sec.gov.

PORTFOLIO HOLDINGS

The 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. The 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 the Fund is available to investors within 60 days after the
period to which it relates. The Fund's Forms N-PORT and Forms N-CSR are
available on the SEC's website listed above.

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
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.

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FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
FEBRUARY 28, 2022 (UNAUDITED)

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 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. 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

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FIRST TRUST MULTI-MANAGER LARGE GROWTH ETF (MMLG)
FEBRUARY 28, 2022 (UNAUDITED)

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 outbreak of the respiratory disease
designated as COVID-19 in December 2019 has caused significant volatility and
declines in global financial markets, which have caused losses for investors.
While the development of vaccines has slowed the spread of the virus and allowed
for the resumption of "reasonably" normal business activity in the United
States, many countries continue to impose lockdown measures in an attempt to
slow the spread. Additionally, there is no guarantee that vaccines will be
effective against emerging variants of the disease.

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 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.

NOT FDIC INSURED NOT BANK GUARANTEED MAY LOSE VALUE

Page 20

FIRST TRUST

First Trust Exchange-Traded Fund VIII

INVESTMENT ADVISOR
First Trust Advisors L.P.
120 East Liberty Drive, Suite 400
Wheaton, IL 60187

INVESTMENT SUB-ADVISORS
Wellington Management Company LLP
280 Congress Street
Boston, MA 02210

Sands Capital Management, LLC
1000 Wilson Boulevard, Suite 3000
Arlington, Virginia 22209

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 S. Wacker Drive
Chicago, IL 60606

LEGAL COUNSEL
Chapman and Cutler LLP
320 South Canal Street
Chicago, IL 60606

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