Annual Report
For the Period
January 1, 2023 through
November 30, 2023
First Trust Exchange-Traded Fund VIII
First Trust Active Global Quality Income ETF (AGQI)
Janus Henderson Investors US LLC

Table of Contents
First Trust Active Global Quality Income ETF (AGQI)
Annual Report
November 30, 2023
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8
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13
15
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25
26
32
34
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 Janus Henderson Investors US LLC (“Janus Henderson” or the “Sub-Advisor”) 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 Active Global Quality Income 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-Advisor 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 described in this report 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 by 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. It includes details about the Fund and presents data and analysis that provide insight into the Fund’s performance and investment approach.
By reading the portfolio commentary from the portfolio management team of the Fund, you may obtain an understanding of how the market environment affected the Fund’s performance. 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-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 the Fund are spelled out in its prospectus, statement of additional information, and other Fund regulatory filings.

Shareholder Letter
First Trust Active Global Quality Income ETF (AGQI)
Annual Letter from the Chairman and CEO
November 30, 2023
Dear Shareholders,
First Trust is pleased to provide you with the annual report for the First Trust Active Global Quality Income ETF (the “Fund”), which contains detailed information about the Fund for the period January 1, 2023 to November 30, 2023.
Rising prices and the direction of central bank policy continue to dominate headlines on a global scale. As of December 12, 2023, just one of the eleven countries that comprise the so-called “Group of Ten” had a rate of inflation that was below its target for the metric. To rein in these price increases, central banks across the globe have been implementing more restrictive monetary policies. Over the past twelve months, the Federal Reserve (the “Fed”) increased the Federal Funds target rate (upper bound) from 4.00% (where it stood on November 30, 2022) to 5.50% as of November 30, 2023. Inflation, as measured by the 12-month change in the rate of the Consumer Price Index, stood at 3.1% at the end of November 2023, marking the thirty-third consecutive month that the metric has been elevated above the Fed’s stated goal of 2.0%.
As many investors are likely aware, tighter monetary policy often leads to lower economic growth. In their October 2023 publication of the World Economic Outlook, the International Monetary Fund projected that the growth in world economic output is expected to slow from 3.5% in 2022 to 2.9% in 2024. The economic growth in advanced economies is projected to plummet from 2.6% in 2022 to 1.4% over the same period. The impact of higher rates on consumers and businesses cannot be overstated. For consumers, rising interest rates typically increase the cost of borrowing for large purchases, such as homes and automobiles. Assuming a 20% down payment, the rise in mortgage rates since the Fed began its current tightening cycle amounts to a 31% increase in monthly interest payments on a new 30-year mortgage for the median new home, according to Brian Wesbury, Chief Economist at First Trust. For corporations, the rising cost of debt financing often leads to a contraction in business investment as free capital dries up and expansion projects slow. Refinitiv Lipper reported that the value of global merger and acquisitions activity stood at just $2.38 trillion year-to-date through October 2023, representing a decline of 20% compared to the same period last year and the lowest January to October total in a decade.
The financial markets battled a myriad of headwinds over the past year, from geopolitical uncertainty resulting from war (the conflicts between Israel and Hamas and Russia and Ukraine) to sticky inflation and the looming threat of an economic recession. While calls for a recession may concern some investors, the following may offer solace. Data from Bloomberg reveals that the S&P 500 ® Index has posted positive total returns over the 3-year period following every recession since 1948.
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,
James A. Bowen
Chairman of the Board of Trustees
Chief Executive Officer of First Trust Advisors L.P.
Page 1

Fund Performance Overview (Unaudited)
First Trust Active Global Quality Income ETF (AGQI)
The First Trust Active Global Quality Income ETF (the “Fund”) seeks income with the potential for capital growth over the long-term. Under normal market conditions, the Fund seeks to invest primarily in income-producing equity securities. Such equity securities may include common stock, depositary receipts (including American Depositary Receipts and Global Depositary Receipts), preferred securities and real estate investment trusts. The Fund invests in U.S. and non-U.S. issuers and will typically invest at least 40% of its net assets in securities of issuers or companies that are economically tied to different countries throughout the world, excluding the United States.
Performance
 
 
Average Annual Total
Returns
Cumulative Total Returns
 
1 Year
Ended
11/30/23
5 Years
Ended
11/30/23
Inception
(9/24/15)
to 11/30/23
5 Years
Ended
11/30/23
Inception
(9/24/15)
to 11/30/23
Fund Performance
 
 
 
 
 
NAV
5.26%
3.61%
3.20%
19.37%
29.44%
Market Price
19.72%
5.61%
2.57%
31.37%
23.06%
Index Performance
 
 
 
 
 
MSCI ACWI High Dividend Yield Index
3.16%
5.59%
7.29%
31.23%
77.84%
MSCI ACWI Index
12.01%
9.07%
9.55%
54.37%
110.94%
MSCI Europe Index
14.20%
7.01%
6.12%
40.33%
62.60%
On November 21, 2023, the Fund acquired the assets and adopted the financial and performance history of First Trust Dynamic Europe Equity Income Fund ( FDEU, a closed-end fund), which had an inception date of September 24, 2015.
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 periods indicated. “Cumulative Total Returns” represent the total change in value of an investment over the periods 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 Securities and Exchange Commission 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. As of November 21, 2023, NAV and Market Price returns assume that all distributions have been reinvested in the Fund at NAV and Market Price, respectively. Prior to November 21, 2023, NAV and Market Price returns assumed that all distributions were reinvested at prices obtained by the Dividend Reinvestment Plan of FDEU and the price used to calculate Market Price returns was the NYSE closing market price of FDEU.
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 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 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

Fund Performance Overview (Unaudited) (Continued)
First Trust Active Global Quality Income ETF (AGQI) (Continued)
Sector Allocation
% of Total
Long-Term
Investments
Information Technology
19.6 %
Consumer Staples
15.2
Health Care
15.0
Industrials
14.2
Energy
10.1
Financials
7.2
Consumer Discretionary
5.6
Materials
5.6
Communication Services
5.2
Real Estate
2.3
Total
100.0%
Country Allocation
% of Total
Investments
United States
27.9 %
France
19.3
United Kingdom
12.7
Switzerland
8.4
Ireland
6.0
Japan
5.5
Sweden
4.9
South Korea
4.0
Taiwan
3.8
Canada
2.9
Denmark
2.9
Hong Kong
1.7
Total
100.0%
Portfolio securities are categorized based upon their country
of incorporation.
Top Ten Holdings
% of Total
Long-Term
Investments
Microsoft Corp.
7.5 %
RELX PLC
5.6
TotalEnergies SE
5.4
Merck & Co., Inc.
4.9
Shell PLC
4.7
Sanofi S.A.
4.3
Mondelez International, Inc., Class A
4.1
Samsung Electronics Co., Ltd., GDR
4.0
Coca-Cola (The) Co.
3.9
Nestle S.A.
3.8
Total
48.2%
Page 3

Fund Performance Overview (Unaudited) (Continued)
First Trust Active Global Quality Income ETF (AGQI) (Continued)
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 November 21, 2023 is available at https://www.ftportfolios.com/Retail/etf/home.aspx .
Page 4

Portfolio Commentary
First Trust Active Global Quality Income ETF (AGQI)
Annual Report
November 30, 2023 (Unaudited)
On November 21, 2023, First Trust Dynamic Europe Equity Income Fund (NYSE: FDEU), a closed-end management investment company, managed by First Trust Advisors L.P. ( First Trust or the Advisor ) and sub-advised by Janus Henderson Investors US LLC (“Janus Henderson” or the “Sub-Advisor”), was reorganized into First Trust Active Global Quality Income ETF (NYSE Arca: AGQI), an actively managed exchange-traded fund (“ETF”) that is managed by First Trust and sub-advised by Janus Henderson. On November 21, 2023, the assets of FDEU were transferred to, and the liabilities of FDEU were assumed by, AGQI. The shareholders of FDEU received shares of AGQI with a value equal to the aggregate net asset value of the shares of FDEU held by them. AGQI seeks income with the potential for capital growth over the long-term. AGQI pursues its investment objective by investing primarily in income-producing equity securities, and will typically invest at least 40% of its net assets in securities of issuers or companies that are economically tied to different countries throughout the world, excluding the United States.
Advisor
First Trust serves as the investment advisor to the First Trust Active Global Quality Income ETF (the “Fund”). First Trust is responsible for the ongoing monitoring of the Fund’s investment portfolio, managing the Fund’s business affairs and providing certain administrative services necessary for the management of the Fund.
Sub-Advisor
Janus Henderson, a legal entity of Janus Henderson Investors, serves as the Fund’s investment sub-advisor. Janus Henderson Investors is headquartered in London and is a global investment management firm that provides a full spectrum of investment products and services to clients around the world. With offices in 24 cities with more than 2,300 employees, Janus Henderson Investors managed approximately $310.5 billion in assets as of November 30, 2023.
Portfolio Managers
The following persons serve as the portfolio managers of the Fund:
Ben Lofthouse, CFA, Head of Global Equity Income of Janus Henderson
Faizan Baig, CFA, Portfolio Manager of Janus Henderson
Charlotte Greville, CFA, Associate Portfolio Manager of Janus Henderson
The portfolio managers are primarily and jointly responsible for the day-to-day management of the Fund. Each portfolio manager has served as the portfolio manager of the Fund since November 2023.
Market Recap
European markets delivered strong returns during 2023, with the MSCI Europe Index rising by 14.20% as of November 30, 2023. As inflation in Europe cooled from elevated levels and supply chains eased from the turmoil caused by the pandemic, investor optimism for the region improved. Across sectors, corporate management teams reported strong earnings and continued to talk confidently about their companies’ outlooks for the year ahead. This was in part due to the price of oil and natural gas returning to levels seen prior to Russia’s invasion of Ukraine in February 2022. Nonetheless, central banks across the continent continued raising interest rates to the highest level in over a decade to tame inflation. Despite some turbulence caused in the markets from the bailout of Swiss bank Credit Suisse, as well as poor economic data in certain countries, markets generally shrugged off bad news and continued to rally. As interest rates rose, currencies in Europe were strong, with both the Euro and British Pound Sterling appreciating versus the U.S. Dollar.
The fiscal year was characterised by a large dispersion between sector and country performance within Europe. The Information Technology and Industrials sectors were leading sectors over the period, while the Consumer Staples and Materials sectors were the worst performing. Italy and Spain were the best performing countries, while Norway and Finland both underperformed during the same period.
Performance Analysis
The Fund’s net asset value rose by 5.67% during the fiscal period ended November 30, 2023, underperforming the MSCI Europe Index (the “Benchmark”). This included transition impacts during the Fund’s conversion in the fourth quarter of the period, particularly as leverage was unwound while the options strategy remained in place. The Fund delivered a 20.02% price return for shareholders, which was driven by capital appreciation combined with the closing of the discount and outperformed the Benchmark. Dividend distributions during the period totaled $0.77.
Page 5

Portfolio Commentary (Continued)
First Trust Active Global Quality Income ETF (AGQI)
Annual Report
November 30, 2023 (Unaudited)
Investment Activity
The Fund converted from a European equity income strategy to a Global quality income model during the fourth quarter of 2023. As part of this process, the Fund de-geared by removing its 25% leverage. Following this, the equity portfolio was converted to a high conviction portfolio of global stocks. Finally, the options overlay for the strategy was removed as this would no longer be part of the strategy going forward. The Fund’s structure converted from a closed-end fund to an open-end exchange-traded fund.
Prior to the conversion, to generate additional income, the Fund could write (or sell) call options on portfolio equity securities and certain broad-based securities indices in an amount up to 40% of the value of its Managed Assets. For the fiscal period ended November 30, 2023, the options portfolio management team overwrote, on average, 34% of the Fund’s Managed Assets. “Managed Assets” means the total asset value of the Fund minus the sum of the Fund’s liabilities other than the principal amount of borrowings, if any. The option strategy was executed on the broad-based EuroStoxx 50 Index, selling one- and two-month call options, approximately at-the-money to slightly out-of-the-money. The option strategy detracted marginally from the total return of the Fund during the period. During the same period, the overwritten index, the EuroStoxx 50, traded higher in price.
Market Outlook
In the face of numerous macroeconomic headwinds, equity markets have performed well during the 12-month period ended November 30, 2023. The global economy is slowing into 2024, in our opinion, but the prospect of significantly lower inflation means that the central bank regime for restrictive monetary policy could potentially begin to reverse at some point next year, in our view. Corporate earnings held up well during 2023 with a robust consumer able to pay increasingly higher prices for products, but it remains to be seen whether this will continue next year. In the most recent period, the pace of earnings growth delivered by companies has been mixed with a few sectors impacted by the lingering impacts of the COVID-19 pandemic. We are confident that the companies held in the Fund’s portfolio can weather the current conditions well and are aided by strong balance sheets and cash generating abilities. We continue to be positively surprised by shareholder returns being announced in terms of both dividends and share buybacks, which suggests that management teams share our confidence in the long-term outlooks for their companies.
Page 6

First Trust Active Global Quality Income ETF (AGQI)
Understanding Your Fund Expenses
November 30, 2023 (Unaudited)
As a shareholder of First Trust Active Global Quality Income 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 November 30, 2023.
Actual Expenses
The first line in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During the Six-Month Period” to estimate the expenses you paid on your account during this six-month period.
Hypothetical Example for Comparison Purposes
The second line in the following table provides information about hypothetical account values and hypothetical expenses based on 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.
 
Beginning
Account Value
June 1, 2023
Ending
Account Value
November 30, 2023
Annualized
Expense Ratio
Based on the
Six-Month
Period
Expenses Paid
During the
Six-Month
Period (a)
First Trust Active Global Quality Income ETF (AGQI)
Actual
$ 1,000.00
$ 1,005.50
3.80%
$ 19.10
Hypothetical (5% return before expenses)
$ 1,000.00
$ 1,006.02
3.80%
$ 19.11
(a)
Expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value over the period (June 1, 2023
through November 30, 2023), multiplied by 183/365 (to reflect the six-month period). This table reflects an annualized expense ratio of 3.80%
because it includes expenses for a portion of the period prior to the reorganization for the Fund.
Page 7

First Trust Active Global Quality Income ETF (AGQI)
Portfolio of Investments
November 30, 2023 
Shares
Description
Value
COMMON STOCKS (a) — 99.4%
Beverages — 7.2%
76,096
Coca-Cola (The) Co.
$ 4,447,050
21,861
Pernod Ricard S.A. (EUR)
3,772,790
 
8,219,840
Chemicals — 3.2%
13,532
Air Products and Chemicals, Inc.
3,661,083
Communications Equipment
— 2.0%
46,071
Cisco Systems, Inc.
2,228,915
Diversified Telecommunication
Services — 2.9%
184,814
TELUS Corp. (CAD)
3,306,890
Electrical Equipment — 6.0%
67,355
nVent Electric PLC
3,586,654
17,590
Schneider Electric SE (EUR)
3,228,503
 
6,815,157
Electronic Equipment,
Instruments & Components
— 2.4%
20,412
TE Connectivity Ltd.
2,673,972
Food Products — 7.9%
65,376
Mondelez International, Inc.,
Class A
4,645,619
38,158
Nestle S.A. (CHF)
4,329,105
 
8,974,724
Health Care Equipment &
Supplies — 2.8%
40,572
Medtronic PLC
3,216,142
Household Durables — 3.4%
45,250
Sony Group Corp. (JPY)
3,912,755
Insurance — 7.1%
222,691
AIA Group Ltd. (HKD)
1,921,495
123,433
AXA S.A. (EUR)
3,841,914
110,940
Dai-ichi Life Holdings, Inc.
(JPY)
2,305,451
 
8,068,860
Machinery — 2.5%
147,120
Sandvik AB (SEK)
2,899,289
Metals & Mining — 2.3%
38,898
Rio Tinto PLC (GBP)
2,651,277
Oil, Gas & Consumable Fuels
— 10.1%
162,955
Shell PLC (EUR)
5,342,554
89,908
TotalEnergies SE (EUR)
6,093,036
 
11,435,590
Pharmaceuticals — 12.1%
54,537
Merck & Co., Inc.
5,588,952
Shares
Description
Value
 
Pharmaceuticals (Continued)
32,232
Novo Nordisk A/S, Class B
(DKK)
$ 3,273,252
52,466
Sanofi S.A. (EUR)
4,880,531
 
13,742,735
Professional Services — 5.6%
165,089
RELX PLC (GBP)
6,335,869
Semiconductors &
Semiconductor Equipment
— 3.8%
44,007
Taiwan Semiconductor
Manufacturing Co., Ltd., ADR
4,282,321
Software — 7.4%
22,317
Microsoft Corp.
8,456,134
Specialized REITs — 2.2%
21,672
Crown Castle, Inc.
2,541,692
Technology Hardware, Storage
& Peripherals — 4.0%
3,266
Samsung Electronics Co., Ltd.,
GDR (b)
4,543,006
Textiles, Apparel & Luxury
Goods — 2.2%
19,622
Cie Financiere Richemont S.A.,
Class A (CHF)
2,446,868
Wireless Telecommunication
Services — 2.3%
329,699
Tele2 AB, Class B (SEK)
2,581,997
Total Investments — 99.4%
112,995,116
(Cost $109,195,154)
Net Other Assets and
Liabilities — 0.6%
656,112
Net Assets — 100.0%
$ 113,651,228
(a)
Securities are issued in U.S. dollars unless otherwise
indicated in the security description.
(b)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the
Securities Act of 1933, as amended.
Abbreviations throughout the Portfolio of Investments:
ADR
American Depositary Receipt
CAD
Canadian Dollar
CHF
Swiss Franc
DKK
Danish Krone
EUR
Euro
GBP
British Pound Sterling
GDR
Global Depositary Receipt
HKD
Hong Kong Dollar
JPY
Japanese Yen
SEK
Swedish Krona
See Notes to Financial Statements
Page 8

First Trust Active Global Quality Income ETF (AGQI)
Portfolio of Investments (Continued)
November 30, 2023 
Currency Exposure Diversification
% of Total
Investments
USD
44.1 %
EUR
24.0
GBP
8.0
CHF
6.0
JPY
5.5
SEK
4.9
CAD
2.9
DKK
2.9
HKD
1.7
Total
100.0%

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of November 30, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
11/30/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 112,995,116
$ 112,995,116
$
$
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 9

First Trust Active Global Quality Income ETF (AGQI)
Statement of Assets and Liabilities
November 30, 2023
ASSETS:
Investments, at value
$ 112,995,116
Foreign currency, at value
4,918
Receivables:
Investment securities sold
45,666,955
Reclaims
1,732,269
Dividends
232,229
Total Assets
160,631,487
 
LIABILITIES:
Due to custodian
9,948
Due to authorized participant
1,519,424
Payables:
Capital shares purchased
44,736,350
Conversion expense
425,000
Investment advisory fees
186,636
Other liabilities
102,901
Total Liabilities
46,980,259
NET ASSETS
$ 113,651,228
 
NET ASSETS consist of:
Paid-in capital
$ 188,121,014
Par value
88,819
Accumulated distributable earnings (loss)
(74,558,605
)
NET ASSETS
$ 113,651,228
NET ASSET VALUE, per share
$ 12.80
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share)
8,881,908
Investments, at cost
$ 109,195,154
Foreign currency, at cost (proceeds)
$ 4,794
See Notes to Financial Statements
Page 10

First Trust Active Global Quality Income ETF (AGQI)
Statements of Operations
 
Period
Ended
11/30/2023 (a)
Year
Ended
12/31/2022
INVESTMENT INCOME:
Dividends
$ 13,498,251
$ 15,677,832
Interest
433,227
224,581
Foreign withholding tax
(674,463
)
(905,769
)
Other
254
Total investment income
13,257,015
14,996,898
 
EXPENSES:
Investment advisory fees
2,987,239
3,302,502
Interest and fees on loans
2,969,729
1,434,564
Legal fees
464,989
72,648
Conversion expense
425,000
Shareholder reporting fees
199,741
84,427
Accounting and administration fees
128,262
133,645
Transfer agent fees
29,922
22,728
Custodian fees
27,627
37,990
Trustees’ fees and expenses
15,907
18,540
Financial reporting fees
8,211
9,250
Registration and filing fees
4,499
29,351
Audit and tax fees
89,005
Other expenses
25,912
48,936
Total expenses
7,287,038
5,283,586
NET INVESTMENT INCOME (LOSS)
5,969,977
9,713,312
 
NET REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments
(43,682,376
)
(2,310,937
)
In-kind redemptions
10,259,264
Written options contracts
(3,035,872
)
878,033
Forward foreign currency contracts
62
484,630
Foreign currency transactions
3,478,647
(195,471
)
Net realized gain (loss)
(32,980,275
)
(1,143,745
)
Net change in unrealized appreciation (depreciation) on:
Investments
43,750,172
(39,053,489
)
Written options contracts
(1,076,656
)
1,279,019
Forward foreign currency contracts
(7,097
)
Foreign currency translation
(3,619,988
)
2,579,064
Net change in unrealized appreciation (depreciation)
39,053,528
(35,202,503
)
NET REALIZED AND UNREALIZED GAIN (LOSS)
6,073,253
(36,346,248
)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS
$ 12,043,230
$ (26,632,936
)
(a)
Results for periods prior to November 21, 2023 are for First Trust Dynamic Europe Equity Income Fund. See Note 4 in the Notes
to Financial Statements.
See Notes to Financial Statements
Page 11

First Trust Active Global Quality Income ETF (AGQI)
Statements of Changes in Net Assets
 
Period
Ended
11/30/2023 (a)
Year
Ended
12/31/2022
Year
Ended
12/31/2021
OPERATIONS:
Net investment income (loss)
$ 5,969,977
$ 9,713,312
$ 10,714,795
Net realized gain (loss)
(32,980,275
)
(1,143,745
)
6,829,972
Net change in unrealized appreciation (depreciation)
39,053,528
(35,202,503
)
20,235,701
Net increase (decrease) in net assets resulting from operations
12,043,230
(26,632,936
)
37,780,468
 
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Investment operations
(13,268,569
)
(8,839,335
)
(12,099,724
)
Return of capital
(3,567,639
)
(307,250
)
Total distributions to shareholders
(13,268,569
)
(12,406,974
)
(12,406,974
)
 
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold
Cost of shares redeemed
(106,961,611
)
Net increase (decrease) in net assets resulting from shareholder transactions
(106,961,611
)
Total increase (decrease) in net assets
(108,186,950
)
(39,039,910
)
25,373,494
 
NET ASSETS:
Beginning of period
221,838,178
260,878,088
235,504,594
End of period
$ 113,651,228
$ 221,838,178
$ 260,878,088
 
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period
17,231,908
17,231,908
17,231,908
Shares sold
Shares redeemed
(8,350,000
)
Shares outstanding, end of period
8,881,908
17,231,908
17,231,908
(a)
Results for periods prior to November 21, 2023 are for First Trust Dynamic Europe Equity Income Fund. See Note 4 in the Notes
to Financial Statements.
See Notes to Financial Statements
Page 12

First Trust Active Global Quality Income ETF (AGQI)
Statements of Cash Flows
For the Period Ended November 30, 2023 (a)
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations
$ 12,043,230
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net
cash provided by operating activities:
Purchases of investments
(204,904,763
)
Sales, maturities and paydowns of investments
337,807,873
Proceeds from written options
10,890,147
Amount paid to close written options
(16,098,238
)
Net realized gain/loss on investments and written options
36,458,984
Net change in unrealized appreciation/depreciation on investments and written options
(42,673,516
)
 
Changes in assets and liabilities
Decrease in reclaims receivable
699,467
Decrease in dividends receivable
489,471
Decrease in prepaid expenses
2,666
Increase in due to authorized participant
1,519,424
Decrease in interest and fees payable on loans
(557,611
)
Decrease in investment advisory fees payable
(88,886
)
Decrease in audit and tax fees payable
(87,682
)
Decrease in legal fees payable
(1,954
)
Decrease in shareholder reporting fees payable
(19,814
)
Decrease in administrative fees payable
(107,421
)
Decrease in custodian fees payable
(12,179
)
Decrease in transfer agent fees payable
(3,060
)
Decrease in trustees’ fees and expenses payable
(62
)
Decrease in financial reporting fees payable
(771
)
Increase in conversion expense payable
425,000
Increase other liabilities
88,099
Cash provided by operating activities
$ 135,868,404
 
Cash flows from financing activities:
Cost of shares redeemed
(62,225,261
)
Distributions to shareholders from investment operations
(13,268,569
)
Repayment of outstanding loans
(72,852,139
)
Effect of exchange rate changes on Euro Loans (b) (c)  
(286,995
)
Cash used in financing activities
(148,632,964
)
Decrease in cash, foreign currency and restricted cash
(12,764,560
)
Cash, foreign currency and restricted cash at beginning of period
12,759,530
Cash, foreign currency and restricted cash at end of period
$ (5,030
)
 
Supplemental disclosure of cash flow information:
Cash paid during the period for interest and fees
$ 3,527,340
 
Cash, foreign currency and restricted cash reconciliation:     
Cash and foreign currency
$ (5,030
)
Restricted cash
Cash, foreign currency and restricted cash at end of period
$ (5,030
)
(a)
Results for periods prior to November 21, 2023 are for First Trust Dynamic Europe Equity Income Fund. See Note 4 in the Notes
to Financial Statements.
(b)
This amount is a component of net change in unrealized appreciation (depreciation) on foreign currency translation as shown on
the Statements of Operations.
(c)
Net change in unrealized appreciation (depreciation) on foreign currency is $(3,906,983), which does not include the effect of
exchange rate changes on Euro borrowings.
See Notes to Financial Statements
Page 13

First Trust Active Global Quality Income ETF (AGQI)
Statements of Cash Flows (Continued)
For the Year Ended December 31, 2022
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations
$ (26,632,936
)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net
cash provided by operating activities:
Purchases of investments
(63,242,939
)
Sales of investments
62,097,199
Proceeds from written options
12,135,740
Amount paid to close written options
(11,256,732
)
Net realized gain/loss on investments and written options
1,432,904
Net change in unrealized appreciation/depreciation on investments and written options
37,774,470
Net change in unrealized appreciation/depreciation on forward foreign currency contracts