Annual Report
For the Period Ended
August 31, 2023
 
First Trust Exchange-Traded Fund VIII
First Trust Innovation Leaders ETF (ILDR)
First Trust Expanded Technology ETF (XPND)
First Trust Multi-Strategy Alternative ETF (LALT)

Table of Contents
First Trust Exchange-Traded Fund VIII
Annual Report
August 31, 2023
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48

Caution Regarding Forward-Looking Statements
This report contains certain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the goals, beliefs, plans or current expectations of First Trust Advisors L.P. (“First Trust” or the “Advisor”) and its representatives, taking into account the information currently available to them. Forward-looking statements include all statements that do not relate solely to current or historical fact. For example, forward-looking statements include the use of words such as “anticipate,” “estimate,” “intend,” “expect,” “believe,” “plan,” “may,” “should,” “would” or other words that convey uncertainty of future events or outcomes.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of any series of First Trust Exchange-Traded Fund VIII (the “Trust”) described in this report (each such series is referred to as a “Fund” and collectively, as the “Funds”) to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. When evaluating the information included in this report, you are cautioned not to place undue reliance on these forward-looking statements, which reflect the judgment of the Advisor and its representatives only as of the date hereof. We undertake no obligation to publicly revise or update these forward-looking statements to reflect events and circumstances that arise after the date hereof.
Performance and Risk Disclosure
There is no assurance that any Fund described in this report will achieve its investment objective. Each Fund is subject to market risk, which is the possibility that the market values of securities owned by the Fund will decline and that the value of the Fund’s shares may therefore be less than what you paid for them. Accordingly, you can lose money investing in a Fund. See “Risk Considerations” in the Additional Information section of this report for a discussion of certain other risks of investing in the Funds.
Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. For the most recent month-end performance figures, please visit www.ftportfolios.com or speak with your financial advisor. Investment returns, net asset value and share price will fluctuate and Fund shares, when sold, may be worth more or less than their original cost.
The Advisor may also periodically provide additional information on Fund performance on each Fund’s webpage at www.ftportfolios.com.
How to Read This Report
This report contains information that may help you evaluate your investment. It includes details about each Fund and presents data and analysis that provide insight into each Fund’s performance and investment approach.
By reading the portfolio commentary from the portfolio management teams of the Funds, you may obtain an understanding of how the market environment affected each Fund’s performance. The statistical information that follows may help you understand each Fund’s performance compared to that of the relevant benchmark.
It is important to keep in mind that the opinions expressed by personnel of the Advisor are just that:informed opinions. They should not be considered to be promises or advice. The opinions, like the statistics, cover the period through the date on the cover of this report. The material risks of investing in each Fund are spelled out in its prospectus, statement of additional information, and other Fund regulatory filings.
Page 1

Shareholder Letter
First Trust Exchange-Traded Fund VIII
Annual Letter from the Chairman and CEO
August 31, 2023
Dear Shareholders,
First Trust is pleased to provide you with the annual report for certain series of the First Trust Exchange-Traded Fund VIII (the “Funds”), which contains detailed information about the Funds for the twelve months ended August 31, 2023. Please note that the First Trust Multi-Strategy Alternative ETF (“LALT”) was incepted on January 31, 2023, so information in this letter and the report prior to that date will not apply to this Fund.
As many investors are aware, the Federal Reserve (the “Fed”) remains locked in a closely watched battle with stubbornly high inflation. At their most recent meeting (September 20, 2023), the Federal Open Market Committee voted to keep the Federal Funds target rate (upper bound) unchanged at 5.5%, marking the second pause in a series of eleven increases that started on March 16, 2022. To be sure, the Fed has made considerable progress in reducing rising prices but has yet to see inflation fall to its 2.0% goal. Inflation, as measured by the twelve month trailing change in the rate of the Consumer Price Index, stood at 3.7% on August 31, 2023, down from its most recent high of 9.1% set on June 30, 2022, but up from its most recent low of 3.0% set on June 30, 2023.
One impact of rising prices and higher interest rates is that Americans’ excess savings, defined as the difference between the savings rate during the COVID-19 pandemic recession and its pre-recession trend, appear to be nearly depleted. The Federal Reserve Bank of San Francisco estimates that by June 2023, U.S. households held less than $190 billion of the excess savings they accumulated after the onset of the pandemic recession. At the current pace, the bank estimates that these excess savings will be depleted sometime in the third quarter of 2023. For comparison, excess savings peaked at nearly $2.1 trillion in August 2021. In our view, these excess savings are one reason consumer spending has remained robust in the face of elevated prices. Once these savings are gone, we could see the consumer struggle to manage their debt burden, in our opinion. In a potential harbinger of things to come, delinquency rates have already begun to rise. Data from the Federal Reserve Bank of New York revealed that the rate of new credit card and new auto loan delinquencies stood at 7.2% and 7.3%, respectively, in the second quarter of 2023, surpassing pre-pandemic levels.
Suffice it to say, the U.S. economy has remained resilient, registering positive changes to gross domestic product (“GDP”) in each of the past four quarters. Brian Wesbury, Chief Economist at First Trust, expects this growth to continue, estimating third quarter 2023 GDP could increase by as much as 4.0%. That said, Mr. Wesbury also notes that another quarter of economic growth does not mean that a recession is off the table. Several economic metrics continue to enjoy favorable comparisons to COVID-19-era lockdowns and recent governmental incentives, such as the CHIPS and Science Act of 2022, could be providing a temporary boost to economic growth.
Thank you for giving First Trust the opportunity to play a role in your financial future. We value our relationship with you and will report on the Funds again in six months.
Sincerely,
James A. Bowen
Chairman of the Board of Trustees
Chief Executive Officer of First Trust Advisors L.P.
Page 2

Fund Performance Overview (Unaudited)
First Trust Innovation Leaders ETF (ILDR)
The First Trust Innovation Leaders ETF (the “Fund”) seeks to provide capital appreciation. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in common stock and depository receipts issued by U.S. and non-U.S. companies that may benefit from the development or application of scientific and technological innovation. This includes, but is not limited to, companies that are poised to benefit from new products or services, scientific research, technological improvements and/or enhancements to existing products or services related to automation, advanced medicine, networks, advanced computing, enhanced mobility, energy revolution and e-commerce. The Fund is classified as “non-diversified” under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the NYSE Arca, Inc. under the ticker symbol “ILDR.”
Performance
 
 
Average Annual
Total Returns
Cumulative
Total Returns
 
1 Year
Ended
8/31/23
Inception
(5/25/21)
to 8/31/23
Inception
(5/25/21)
to 8/31/23
Fund Performance
NAV
20.03%
-4.11%
-9.08%
Market Price
19.76%
-3.92%
-8.68%
Index Performance
Russell 3000® Growth Index
21.03%
4.51%
10.53%
(See Notes to Fund Performance Overview on page 8.)
Sector Allocation
% of Total
Long-Term
Investments
Information Technology
40.9%
Health Care
20.3
Industrials
14.1
Communication Services
11.7
Consumer Discretionary
7.6
Financials
5.4
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Amazon.com, Inc.
5.8%
Microsoft Corp.
5.6
NVIDIA Corp.
5.2
Alphabet, Inc., Class C
4.6
Uber Technologies, Inc.
4.0
ServiceNow, Inc.
3.3
Regeneron Pharmaceuticals, Inc.
2.9
Schneider Electric SE
2.4
Netflix, Inc.
2.3
Broadcom, Inc.
2.3
Total
38.4%
Page 3

Fund Performance Overview (Unaudited) (Continued)
First Trust Innovation Leaders ETF (ILDR) (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 index
does not actually hold a portfolio of securities
and therefore does 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 4

Fund Performance Overview (Unaudited) (Continued)
First Trust Expanded Technology ETF (XPND)
The First Trust Expanded Technology ETF (the “Fund”) seeks to provide long-term capital appreciation. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in the common stocks of companies identified by the Fund’s investment advisor as either information technology companies or financial companies and communication services companies whose operations are principally derived from and/or dependent upon technology. Prior to March 16, 2023, consumer discretionary companies were included in the Fund’s strategy. As of that date, financial companies replaced consumer discretionary companies in the strategy. The Fund is classified as “non-diversified” under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the NYSE Arca, Inc. under the ticker symbol “XPND.”
Performance
 
 
Average Annual
Total Returns
Cumulative
Total Returns
 
1 Year
Ended
8/31/23
Inception
(6/14/21)
to 8/31/23
Inception
(6/14/21)
to 8/31/23
Fund Performance
NAV
28.55%
3.71%
8.40%
Market Price
28.55%
3.71%
8.40%
Index Performance
S&P 500® Information Technology Index
33.33%
11.29%
26.73%
(See Notes to Fund Performance Overview on page 8.)
Sector Allocation
% of Total
Long-Term
Investments
Information Technology
74.6%
Communication Services
14.1
Financials
11.3
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Adobe, Inc.
5.5%
NVIDIA Corp.
5.3
Cisco Systems, Inc.
4.7
Broadcom, Inc.
4.6
Mastercard, Inc., Class A
4.6
Meta Platforms, Inc., Class A
4.6
Visa, Inc., Class A
4.5
Alphabet, Inc., Class A
4.5
Netflix, Inc.
4.5
Apple, Inc.
4.3
Total
47.1%
Page 5

Fund Performance Overview (Unaudited) (Continued)
First Trust Expanded Technology ETF (XPND) (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 index
does not actually hold a portfolio of securities
and therefore does 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 6

Fund Performance Overview (Unaudited) (Continued)
First Trust Multi-Strategy Alternative ETF (LALT)
The First Trust Multi-Strategy Alternative ETF (the “Fund”) seeks to provide long-term total return. The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve long-term total return by allocating its assets amongst a variety of alternative asset categories and strategies in an effort to provide lower correlation and diversifying risk exposures compared to traditional equity and fixed income benchmarks (e.g., the S&P 500® Index or Bloomberg Aggregate Bond Index) over various market cycles. The alternative asset categories and strategies the Fund may employ include, but are not limited to, hedged equity, long/short, event driven, managed futures, commodities, real estate, opportunistic fixed income, relative value, currencies and global macro. The Fund will primarily gain exposure to these alternative asset categories and strategies through investments in exchange-traded products (“ETPs”) (including ETFs, exchange-traded notes (“ETNs”) and trusts backed by physical commodities or currencies). The Fund is classified as "non-diversified" under the Investment Company Act of 1940, as amended. The shares of the Fund are listed and traded on the NYSE Arca, Inc. under the ticker symbol “LALT.”
Performance
 
Cumulative
Total Returns
 
Inception
(1/31/23)
to 8/31/23
Fund Performance
NAV
1.47%
Market Price
1.57%
Index Performance
Credit Suisse AllHedge Index(1)
2.05%
(See Notes to Fund Performance Overview on page 8.)
Performance figures assume reinvestment of
all distributions and do not reflect the
deduction of taxes that a shareholder would
pay on Fund distributions or the redemption
or sale of Fund shares. An index is a statistical
composite that tracks a specified financial
market or sector. Unlike the Fund, the index
does not actually hold a portfolio of securities
and therefore does 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.

(1)
Effective as of August 1, 2023, the Credit Suisse AllHedge Index replaced the Hedge Fund Research HFRX Global Fund Index, which is no
longer available for use by the Fund.
Page 7

Notes to Fund Performance Overview (Unaudited)
Total returns for the periods since inception are calculated from the inception date of each Fund. “Average Annual Total Returns” represent the average annual change in value of an investment over the periods indicated. “Cumulative Total Returns” represent the total change in value of an investment over the periods indicated.  
Each Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is computed by dividing the value of all assets of the Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of outstanding shares. The price used to calculate market return (“Market Price”) is determined by using the midpoint of the national best bid and offer price (“NBBO”) as of the time that the Fund’s NAV is calculated. Under the Securities and Exchange Commission’s rules, the NBBO consists of the highest displayed buy and lowest sell prices among the various exchanges trading the Fund at the time the Fund’s NAV is calculated. Since shares of each Fund did not trade in the secondary market until after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund, the NAV of each Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that all distributions have been reinvested in each Fund at NAV and Market Price, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike each Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by each Fund. These expenses negatively impact the performance of each Fund. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower. The total returns presented reflect the reinvestment of dividends on securities in the indices. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. The investment return and principal value of shares of each Fund will vary with changes in market conditions. Shares of each Fund may be worth more or less than their original cost when they are redeemed or sold in the market. Each Fund’s past performance is no guarantee of future performance. 
Page 8

Portfolio Commentary
First Trust Exchange-Traded Fund VIII
Annual Report
August 31, 2023 (Unaudited)
Advisor
First Trust Advisors L.P. (“First Trust” or the “Advisor”) is the investment advisor to the First Trust Innovation Leaders 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.
Portfolio Management Team
The following persons serve as the portfolio managers of the Fund:
Bob Hensley, CFA, Vice President of First Trust
David McGarel, CFA, Chief Investment Officer, Chief Operating Officer and Managing Director of First Trust
Chris Peterson, CFA, Senior Vice President of First Trust
Jared Wollen, CFA, Vice President of First Trust
Each portfolio manager has served in such capacity for the Fund since 2021.
Commentary
Market Recap
It has been a tale of two markets for the 12-month period ended August 31, 2023. The Russell 3000® Growth Index (the “Benchmark”) was down -7.6% from August 2022 through year-end 2022 only to rally a staggering 31% from year-end 2022 to August 2023. Markets and market prognosticators were very bearish into 2023 as the Federal Reserve (the “Fed”) was aggressively hiking interest rates to combat inflation and the Information Technology sector was maligned for its high cash burn rates and high stock multiples. Market participants expected the Fed to “break-something” and priced the market accordingly.
Indeed, something did break during the 12-month period ended August 31, 2023. Silicon Valley Bank (“SVB”) and some other regional banks came under extreme duress in March 2023 as consumers pulled cash deposits. The “run” on select lenders led to a required capital raise at SVB as long-term held bonds had substantial losses and near-term deposits faced withdrawal pressures from higher rates. Large balance sheet losses were going to be realized on the selling of longer-duration debt to satiate the cash withdrawals. During the more favorable interest rate environment preceding 2022, regional banks were able to take deposits, often paying little or no interest, and then deposit the cash in long-term bonds with higher relative interest rates. However, as depositors asked for their money back, the long-term bonds would have to be sold at a loss and eat through the banks reserved capital. The event climaxed when SVB was taken over by U.S. regulators resulting in the largest U.S. bank failure since 2008. It is our view that this event could have served as a catalyst for the much-anticipated recession, but federal regulators backstopping depositors and the Fed easing financial conditions served to forestall this outcome.
As 2023 progressed from the March banking dislocation, however, a budding “soft-landing” narrative began to take hold. Inflation came down, since cresting at a 9.1% year-over-year rise in June 2022, and has since fallen to a much less alarming 3.7% as of August 31, 2023, allowing the Fed to slow down, and even pause, hiking interest rates. Artificial Intelligence (“AI”) entered the popular market zeitgeist as ChatGPT 3, and Google’s Bard were released. Companies, especially NVIDIA Corp. and Microsoft Corp., detailed enhanced growth opportunities and expectations for better AI models to change how work is performed and even how the foundations of the economy are formed. While multiples of companies identified as AI plays expanded far faster than revenues as this narrative took hold there is data to support the excitement. Most telling, as of July 31, 2023, NVIDIA Corp. revenues expanded 101% from the prior year and 88% from the preceding quarter! Jensen Huang, President of NVIDIA Corp., commented “A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI.”
Stock performance reflected this as year-to-date through August 31, 2023, the S&P 500® Index returned 18.73% with seven stocks responsible for 13.25% of the return:Apple, Inc. (2.79%), Microsoft Corp. (2.17%), NVIDIA Corp. (2.69%), Amazon.com, Inc. (1.52%), Meta Platforms, Inc. (1.25%), Alphabet, Inc. (Google) (1.69%), and Tesla, Inc. (1.14%). All other stocks of the S&P 500® Index contributed (5.48)%.
Fund Performance
For the 12-month period ended August 31, 2023, the Fund returned 20.03% on a net asset value basis and 19.76% on a market price basis. The Benchmark returned 21.03% during the same period. Allocation was a positive contributor to performance as structural underweights to the Consumer Staples, Energy and Consumer Discretionary sectors benefited the Fund. Selection was a negative for
Page 9

Portfolio Commentary (Continued)
First Trust Exchange-Traded Fund VIII
Annual Report
August 31, 2023 (Unaudited)
the period as strong returns were most concentrated to the Mega-Cap technology stocks, most of which the Fund is underweight. For the same period, Apple had an average weight of 11.79% in the Benchmark and returned 20.20%. The Fund did not hold Apple, Inc. and so 2.19% of contribution headwinds were attributable to this one stock. Similarly, Microsoft Corp. returned 26.56% for the period and the Benchmark had an average weight of 10.14% in this holding. Despite being the Fund’s largest holding at 5.21%, 1.44% of contribution drag was generated from the Benchmark’s outsized weight.
September through December of 2022 saw a challenging market and the Benchmark was off -7.59% and the Fund was down -7.39%. Risk-off sentiment dominated the market narratives and defensive sectors such as Health Care, though not small biotechnology, and Consumer Staples were in favor. Performance was markedly different with the turn of the calendar. From December 30, 2022 through August 31, 2023, Technology stocks, particularly those exposed to the latest generation of AI technologies, entered a strong uptrend. The Fund was well positioned for this as the AI theme is one of the Fund’s identified target themes. Helping drive strong 2023 performance were stocks such as Microsoft Corp., Palantir Technologies, Inc., NVIDIA Corp., ServiceNow, Inc. and MongoDB, Inc. which were up 37.60%, 133.33%, 237.82%, 51.65% and 93.71%, respectively. These contributed a full 9.97% of Fund returns year-to-date. The Healthcare sector detracted from the Fund’s performance as it held nearly double the Benchmark’s weight in the sector and it was weak throughout the period
Market and Fund Outlook
The portfolio management team was cautious into 2023 and positioning reflected it. While markets have been strong for the 12-month period ended August 31, 2023, the Fund still enjoyed robust performance as the defensive positioning expressed itself by owning larger-capitalization Technology stocks, such as Microsoft Corp. and NVIDIA Corp. at higher relative levels to history, and these stocks particularly benefited from the AI breakthroughs. It is not coincidental that the larger stocks benefit most. AI requires enormous technical skill sets and has large data and computational requirements. Large, well-capitalized companies are the most able to take advantage of this. Our expectation for AI is that it will most benefit select semi-conductor stocks and be a strong tailwind to growth for software providers, in our opinion. Companies able to utilize AI in their platforms could enjoy expanded revenue opportunities from new products but also pricing power as solutions often lower customer costs. The portfolio management team continues to have a positive view on the network and advanced computing themes which has driven a heavy weight to the Information Technology sector.
Stock market valuation levels are currently elevated, but we do not feel that they are extreme, in our opinion. Inflation is moderating, enabling the Fed to slow raising interest rates thereby creating support for equity valuations. In our view, caution on further multiple expansion seems warranted if only because it is now possible to get decent yields from fixed income investments again which should attract investor capital. For too long there was no alternative to equities, but we believe high rates should create heightened competition for asset allocation making further multiple expansion more challenging going forward. The Fund continues to find dynamic companies creating the technologies of tomorrow. The portfolio management team is disciplined in seeking the most innovative technologies but being judicious in the price we pay for assets.
Page 10

Portfolio Commentary (Continued)
First Trust Exchange-Traded Fund VIII
Annual Report
August 31, 2023 (Unaudited)
Advisor
First Trust Advisors L.P. (“First Trust” or the “Advisor”) serves as the investment advisor to the First Trust Expanded Technology 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.
Portfolio Management Team
The Fund’s portfolio is managed by a team (the “Investment Committee”) consisting of:
Daniel J. Lindquist, Chairman of the Investment Committee and Managing Director of First Trust
Jon C. Erickson, Senior Vice President of First Trust
David G. McGarel, Chief Investment Officer, Chief Operating Officer and Managing Director of First Trust
Roger F. Testin, Senior Vice President of First Trust
Stan Ueland, Senior Vice President of First Trust
Chris A. Peterson, Senior Vice President of First Trust
Erik Russo, Vice President of First Trust
Omar Sepulveda, Vice President of First Trust
The Investment Committee members are primarily and jointly responsible for the day-to-day management of the Fund. Each Investment Committee member has served as a part of the portfolio management team of the Fund since June 2021.
Commentary
Market Recap
U.S. equity markets have seen major shifts over the last three years. The start of the COVID-19 pandemic saw equities sharply decline in early 2020 only to rally for the next seven quarters with the S&P 500® Index hitting an all-time closing high of 4,796.56 on January 3, 2022. Though stocks then trailed off for the first three quarters of 2022, a reversal in the trend came as equities unexpectedly began to climb in the fourth quarter of 2022. Equities and investors have shown their resilience as they have combatted headwinds since the start of 2020 through the pandemic, inflation, rising interest rates, and bank failures earlier this year. While many risks are still evident in the markets and uncertainty exists concerning when the Federal Reserve (the “Fed”) will end their interest rate hiking cycle in their mission to reduce inflation, the fact remains that the S&P 500® Index has managed to gain 15.94% over the preceding 12-month period ended August 31, 2023. Inflation’s decline from its peak in June 2022 gave investors hope that the interest rate increases would eventually subside which helped give equities a boost over the last 12 months. The Information Technology (S&P 500® Information Technology Index, up 33.33%) and the Communications Services (S&P 500® Communication Services Index, up 25.76%) sectors led stocks higher through the last 12 months. A large catalyst for the equity markets’ rally came earlier this year with Artificial Intelligence (“AI”) headlines generating excitement, which helped mega-cap chip maker NVIDIA Corp. push higher through the euphoria. The company’s strong sales forecasts gave the stock momentum, helping propel them into an elite group of companies worth over $1 trillion which includes Apple, Inc., Microsoft Corp., Alphabet, Inc., and Amazon.com, Inc. The S&P 500® Financials Index declined 9.55% in March 2023 as the Financials sector was under pressure due to the failure of Silicon Valley Bank and Signature Bank, which weighed on sentiment towards the sector. The Financials sector managed to post a positive return over the last 12 months but underperformed the overall market. U.S. consumer sentiment remained steady throughout the period with a slight uptick in June and July, although consumer confidence fell in August as higher borrowing costs and fears that inflation will begin to rise again weighed on consumers. The Utilities and Real Estate sectors were the only sectors to post negative returns. Value stocks (S&P 500® Value Index, up 17.28%) outperformed growth stocks (S&P 500® Growth Index, up 13.38%), while large-cap stocks outperformed both mid-cap stocks (S&P MidCap 400® Index, up 10.71%) and small-caps (S&P SmallCap 600® Index, up 5.53%) over the 12-month period ended August 31, 2023.
Fund Performance
For the 12-month period ended August 31, 2023, the Fund returned 28.55% on both a net asset value basis and market price basis. The S&P 500® Information Technology Index (the “Benchmark”) returned 33.33% during the same period, more than doubling the S&P 500® Index performance of 15.94%.
The Fund’s focus on Information Technology sector stocks and those whose operations are principally derived from and/or dependent upon technology contributed to the outperformance relative to the overall equity market, though the Fund underperformed the S&P
Page 11

Portfolio Commentary (Continued)
First Trust Exchange-Traded Fund VIII
Annual Report
August 31, 2023 (Unaudited)
500® Information Technology Index. Much of the relative underperformance can be attributed to the Fund’s exposure to the Semiconductors & Semiconductor Equipment industry. While the Fund was overweight the best performing industry in the Information Technology sector, the Fund was underweight the industry’s largest holding, mega-cap semiconductor stock NVIDIA Corp., which returned 227.25% over the period. The Electronic Equipment, Instruments & Components industry contributed negatively to the relative return as the Fund was overweight the underperforming industry. The Media industry within the Communication Services sector also detracted from the Fund’s relative return. The Fund had positions in the underperforming industry which is not part of the Benchmark. The Fund’s relative performance benefited from an underweighting in Apple, Inc. [20.20%] and Microsoft Corp. [26.56%], as both underperformed the Benchmark.
A factor attribution analysis revealed the Fund had heavy factor loadings to small size and low quality relative to the Benchmark, while the Fund had heavy factor loadings to small size and high quality relative to the S&P 500® Index, which represents the overall U.S. equity market. Quality and small size were the best performing factors over the last 12 months. The Fund had higher exposure to smaller size, due in part to the Fund’s modified market capitalization weighting scheme. High quality names Apple, Inc. and Microsoft Corp. each carried a weight of 20% or greater in the Benchmark. The Fund limits weights to a maximum of 4.5% at every rebalance to lower exposure to single-stock risk.
Market and Fund Outlook 
We believe market risk is more elevated in the near term due to uncertainty across several spectrums including inflation, higher interest rates, and slowing growth. Stock valuations are currently mixed as some industries are reasonable while others have become very expensive as their multiples expanded over the last 12 months, specifically the mega-cap technology focused names. Against this backdrop, we remain constructive on equities for the long-term but believe market volatility will likely remain heightened in the near term.
Page 12

Portfolio Commentary (Continued)
First Trust Exchange-Traded Fund VIII
Annual Report
August 31, 2023 (Unaudited)
Advisor
First Trust Advisor L.P. (“First Trust” or the “Advisor”) is the investment advisor to the First Trust Multi-Strategy Alternative 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.
Portfolio Management Team
The following persons serve as the portfolio managers of the Fund:
John Gambla, CFA, FRM, PRM, Senior Vice President, Co-Head of the Alternatives Investment Team of First Trust
Rob Guttschow, CFA, Senior Vice President, Co-Head of the Alternatives Investment Team of First Trust
Daniel J. Lindquist, Chairman of the Investment Committee and Managing Director of First Trust
David G. McGarel, Chief Investment Officer, Chief Operating Officer and Managing Director of First Trust
Chris A. Petersen, CFA, Senior Vice President and Head of Research Strategy of First Trust
The portfolio managers are primarily and jointly responsible for the day-to-day management of the Fund. Each portfolio manager has served as a part of the portfolio management team of the Fund since January 2023.
Commentary
The Fund is an actively managed exchange-traded fund (“ETF”). The Fund’s investment objective is long-term total return. The Fund seeks to achieve its investment objective by allocating its assets amongst a variety of alternative asset categories and strategies, primarily in ETF form, in an effort to provide lower correlation and diversifying risk exposures compared to traditional equity and fixed income benchmarks (e.g., the S&P 500® Index or Bloomberg Aggregate Bond Index). For performance measurement, the Fund is benchmarked against the Credit Suisse AllHedge Index (the “Benchmark”), which is an asset-weighted hedge fund peer group. This commentary discusses the Fund’s performance since inception on January 31, 2023 through August 31, 2023.
Overall Market Recap
U.S. economic growth was strong during the fiscal period from the Fund’s inception on January 31, 2023 to August 31, 2023. Real gross domestic product (“GDP”) grew by an average 2.05% (annualized) during the first two quarters of 2023 and current forecasts from the Atlanta Fed GDPNow forecasting tool place third quarter 2023 GDP growth at a strong 4.86% annualized. The U.S. Labor market, as measured by the U.S. Bureau of Labor Statistics nonfarm payroll release, showed strong employment growth during the fiscal period, with 1.88 million jobs created in 2023 year-to-date. Job growth has been positive in all of the reported months for 2023. The robust growth in employment has lowered the overall number of jobs open, according to the Jolts U.S. Job Opening index. As of the last reported Jolts release in July 2023, the number of job openings in the U.S. has declined to 8.8 million jobs, down 1.73 million job openings from the January 2023 release. The increase in employment and resultant decline in job openings is also evidently helping to boost wages, as wage growth, as of the end of the fiscal period, is starting to exceed the inflation rate after being below it since April of 2021. As of August 31, 2023, year-over-year wages grew at 4.3% which was faster than the year-over-year Consumer Price Index growth rate of 3.7%.
The Federal Reserve’s (the “Fed”) interest rate hiking program, which began back in March of 2022, has successfully lowered inflation from a year-over-year peak of 9.1% in June of 2022 to a most recent year-over-year value of 3.7% as of August 2023. During the process, the short-term Federal Funds target rate has risen from 0.25% to 5.50%. Most, if not all, U.S. based interest rates have risen as the Federal Funds rate has risen. Most pertinent to U.S. consumers is the increase in the 30-year conforming mortgage rates which, according to Bankrate.com, have risen by 1.15% during this fiscal period, and by 3.23% since February of 2022, just before the Fed began raising the Federal Funds rate. The U.S. equity market, as represented by the S&P 500® Index (the “Index”), rallied during this fiscal period, up 11.70%. Returns in the Index were particularly good for technology stocks related to Artificial Intelligence (“AI”), as the release of ChatGPT sparked a strong rally in AI related stocks. Bonds, as represented by the Bloomberg Aggregate Bond Index, sold off during the period down 1.66% while riskier high yield bonds (Bloomberg High Yield Index) were up 3.20%. Commodity markets declined with the Bloomberg Commodity Index down 2.29%.
Fund Performance
The Fund’s performance from the Fund’s inception on January 31, 2023 through August 31, 2023 was 1.47% on a net asset value (“NAV”) basis and 1.57% on a market price basis. The Benchmark returned 2.05% during the fiscal period.
Page 13

Portfolio Commentary (Continued)
First Trust Exchange-Traded Fund VIII
Annual Report
August 31, 2023 (Unaudited)
During the performance period, the Fund held allocations in 10 different exchange-traded funds representing the following alternative categories/sectors:Hedged Equity, Managed Futures, Currencies, Opportunistic Fixed Income, and Inflation Protection. Additionally, the Fund also held positions in U.S. treasuries and cash during the fiscal period. The largest contributor to the Fund’s return during the fiscal period was its allocation to the Managed Futures category. The Fund had an average weight of approximately 21.5% to the First Trust Managed Futures Strategy Fund, which returned 4.72% on a NAV basis during the period. Hedged equity, represented by the First Trust Long/Short Equity ETF (“FTLS”) and the First Trust Merger Arbitrage ETF (“MARB”), was the second largest contributor to Fund returns. During the fiscal period, FTLS’s and MARB’s average weights in the Fund were 10.1% and 11.9%, respectively, and their NAV Fund returns were 7.51% and 1.59%, respectively. Rounding out the positive contributors during the fiscal period was the Fund’s allocation to unconstrained bond investments, First Trust TCW Unconstrained Plus Bond ETF and First Trust Low Duration Opportunities ETF both posting positive returns during the fiscal period (1.40% and 0.98%, respectively), while the overall bond market, as measured by the Bloomberg U.S. Aggregate Index posted a negative total return of -1.66%. Detracting from performance during the fiscal period were inflation protection strategies or commodity relative investments. The Fund’s allocation to the iShares Gold Trust and the First Trust Alternative Absolute Return Strategy ETF, which goes long and short commodities, both posted negative returns during the fiscal period, subtracting from the Fund’s overall returns. A treasury allocation in the iShares 7-10 Year Treasury Bond ETF and exposure to the Swiss Franc via the Invesco CurrencyShares Swiss Franc Trust also subtracted from overall returns.
Please see the Portfolio of Investments for a complete list of all positions and weights within the portfolio as of August 31, 2023.
Market and Fund Outlook 
We believe the Fund is well positioned to achieve its investment objective of long-term total return. We believe that the Fund is currently broadly diversified across Alternative asset classes and strategies. Alternative allocations are and will continue to be a valuable component of any well diversified portfolio, offering investor diversification versus traditional long-only equity and
long-only bond strategies. Additionally, we believe that a Multi-Strategy fund offers investors a simple approach to building a diversified position in Alternative strategies.
Page 14

First Trust Exchange-Traded Fund VIII
Understanding Your Fund Expenses
August 31, 2023 (Unaudited)
As a shareholder of First Trust Innovation Leaders ETF, First Trust Expanded Technology ETF or First Trust Multi-Strategy Alternative ETF (each a “Fund” and collectively, the “Funds”), you incur two types of costs: (1) transaction costs; and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees, if any, and other Fund expenses. This Example is intended to help you understand your ongoing costs of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held through the six-month period ended August 31, 2023.
Actual Expenses
The first line in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During the Six-Month Period” to estimate the expenses you paid on your account during this six-month period.
Hypothetical Example for Comparison Purposes
The second line in the following table provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not each Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Funds and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs such as brokerage commissions. Therefore, the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
Beginning
Account Value
March 1, 2023
Ending
Account Value
August 31, 2023
Annualized
Expense Ratio
Based on the
Six-Month
Period
Expenses Paid
During the
Six-Month
Period (a)
First Trust Innovation Leaders ETF (ILDR)
Actual
$1,000.00
$1,187.70
0.75%
$4.14
Hypothetical (5% return before expenses)
$1,000.00
$1,021.42
0.75%
$3.82
First Trust Expanded Technology ETF (XPND)
Actual
$1,000.00
$1,266.50
0.65%
$3.71
Hypothetical (5% return before expenses)
$1,000.00
$1,021.93
0.65%
$3.31
First Trust Multi-Strategy Alternative ETF (LALT) (b)
Actual
$1,000.00
$1,026.00
0.20%
$1.02
Hypothetical (5% return before expenses)
$1,000.00
$1,024.20
0.20%
$1.02
(a)
Expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value over the period
(March 1, 2023 through August 31, 2023), multiplied by 184/365 (to reflect the six-month period).
(b)
Annualized expense ratio and expenses paid during the period do not include fees and expenses of the underlying funds in which the Fund
invests.
Page 15

First Trust Innovation Leaders ETF (ILDR)
Portfolio of Investments
August 31, 2023 
Shares
Description
Value
COMMON STOCKS — 96.1%
Aerospace & Defense — 2.7%
1,273
AeroVironment, Inc. (a)
$123,519
631
L3Harris Technologies, Inc.
112,375
426
Northrop Grumman Corp.
184,496
 
420,390
Automobiles — 1.8%
1,055
Tesla, Inc. (a)
272,274
Biotechnology — 13.0%
988
Alnylam Pharmaceuticals,
Inc. (a)
195,446
6,121
Arcus Biosciences, Inc. (a)
125,481
3,111
BioMarin Pharmaceutical,
Inc. (a)
284,283
26,872
Coherus Biosciences, Inc. (a)
143,228
1,905
Intellia Therapeutics, Inc. (a)
71,399
524
Regeneron Pharmaceuticals,
Inc. (a)
433,081
5,091
REGENXBIO, Inc. (a)
90,111
9,900
Replimune Group, Inc. (a)
202,158
8,519
SpringWorks Therapeutics,
Inc. (a)
240,065
650
Vertex Pharmaceuticals, Inc. (a)
226,421
 
2,011,673
Broadline Retail — 5.6%
6,258
Amazon.com, Inc. (a)
863,667
Capital Markets — 1.1%
1,955
Tradeweb Markets, Inc., Class A
168,971
Communications Equipment
— 2.1%
1,140
Arista Networks, Inc. (a)
222,562
2,124
Ciena Corp. (a)
106,158
 
328,720
Electrical Equipment — 4.1%
5,321
Bloom Energy Corp., Class A (a)
79,762
2,039
Emerson Electric Co.
200,332
2,076
Schneider Electric SE (EUR)
356,981
 
637,075
Electronic Equipment,
Instruments & Components
— 1.6%
766
Keysight Technologies, Inc. (a)
102,108
1,055
TE Connectivity Ltd.
139,671
 
241,779
Entertainment — 3.0%
801
Netflix, Inc. (a)
347,378
849
Take-Two Interactive Software,
Inc. (a)
120,728
 
468,106
Financial Services — 4.1%
105
Adyen N.V. (EUR) (a) (b) (c)
87,955
1,904
Block, Inc. (a)
109,766
6,802
Toast, Inc., Class A (a)
150,800
1,158
Visa, Inc., Class A
284,497
 
633,018
Ground Transportation — 
3.9%
12,715
Uber Technologies, Inc. (a)
600,529
Shares
Description
Value
 
Health Care Equipment &
Supplies — 3.0%
461
Align Technology, Inc. (a)
$170,635
900
Dexcom, Inc. (a)
90,882
424
Intuitive Surgical, Inc. (a)
132,576
5,304
Outset Medical, Inc. (a)
72,187
 
466,280
Health Care Providers &
Services — 0.6%
2,976
Fulgent Genetics, Inc. (a)
97,494
Industrial Conglomerates — 
1.9%
1,980
Siemens AG (EUR)
298,178
Interactive Media & Services
— 7.3%
4,964
Alphabet, Inc., Class C (a)
681,805
985
Meta Platforms, Inc., Class A (a)
291,452
4,950
TripAdvisor, Inc. (a)
74,794
4,234
ZoomInfo Technologies, Inc. (a)
76,297
 
1,124,348
IT Services — 3.5%
495
Accenture PLC, Class A
160,266
381
MongoDB, Inc. (a)
145,275
2,126
Shopify, Inc., Class A (a)
141,358
1,582
Twilio, Inc., Class A (a)
100,789
 
547,688
Life Sciences Tools & Services
— 2.8%
6,360
Avantor, Inc. (a)
137,694
7,447
Cytek Biosciences, Inc. (a)
56,597
443
Thermo Fisher Scientific, Inc.
246,796
 
441,087
Media — 0.9%
1,838
Trade Desk (The), Inc.,
Class A (a)
147,095
Professional Services — 0.9%
708
Paylocity Holding Corp. (a)
141,954
Semiconductors &
Semiconductor Equipment
— 9.0%
371
Broadcom, Inc.
342,392
733
Enphase Energy, Inc. (a)
92,746
1,786
Marvell Technology, Inc.
104,035
1,582
NVIDIA Corp.
780,796
1,378
Rambus, Inc. (a)
77,816
 
1,397,785
Software — 22.2%
1,260
Autodesk, Inc. (a)
279,644
1,906
Crowdstrike Holdings, Inc.,
Class A (a)
310,735
2,535
Datadog, Inc., Class A (a)
244,577
3,395
Dynatrace, Inc. (a)
163,639
464
Intuit, Inc.
251,400
2,534
Microsoft Corp.
830,544
12,729
Palantir Technologies, Inc.,
Class A (a)
190,680
3,536
PowerSchool Holdings, Inc.,
Class A (a)
78,216
See Notes to Financial Statements
Page 16

First Trust Innovation Leaders ETF (ILDR)
Portfolio of Investments (Continued)
August 31, 2023 
Shares
Description
Value
COMMON STOCKS (Continued)
Software (Continued)
846
ServiceNow, Inc. (a)
$498,150
1,697
Smartsheet, Inc., Class A (a)
70,816
2,126
Sprout Social, Inc., Class A (a)
113,826
733
Workday, Inc., Class A (a)
179,219
1,414
Zscaler, Inc. (a)
220,655
 
3,432,101
Technology Hardware, Storage
& Peripherals — 1.0%
4,029
Pure Storage, Inc., Class A (a)
147,421
Total Common Stocks
14,887,633
(Cost $14,584,538)
MONEY MARKET FUNDS — 3.9%
602,382
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
5.21% (d)
602,382
(Cost $602,382)
Total Investments — 100.0%
15,490,015
(Cost $15,186,920)
Net Other Assets and
Liabilities — (0.0)%
(801
)
Net Assets — 100.0%
$15,489,214
(a)
Non-income producing security.
(b)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the
“1933 Act”) and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. This
security is not restricted on the foreign exchange where it
trades freely without any additional registration. As such, it
does not require the additional disclosure required of
restricted securities.
(c)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
(d)
Rate shown reflects yield as of August 31, 2023.
Abbreviations throughout the Portfolio of Investments:
EUR
Euro

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of August 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
8/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$14,887,633
$14,887,633
$— 
$— 
Money Market Funds
602,382
602,382
— 
— 
Total Investments
$15,490,015
$15,490,015
$— 
$— 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 17

First Trust Expanded Technology ETF (XPND)
Portfolio of Investments
August 31, 2023 
Shares
Description
Value
COMMON STOCKS — 99.8%
Communications Equipment
— 6.2%
513
Arista Networks, Inc. (a)
$100,153
5,346
Cisco Systems, Inc.
306,593
 
406,746
Electronic Equipment,
Instruments & Components
— 2.1%
992
Amphenol Corp., Class A
87,673
87
CDW Corp.
18,370
92
Keysight Technologies, Inc. (a)
12,263
39
Teledyne Technologies, Inc. (a)
16,314
 
134,620
Entertainment — 4.8%
672
Netflix, Inc. (a)
291,433
603
Warner Music Group Corp.,
Class A
20,080
 
311,513
Financial Services — 11.3%
1,029
Fiserv, Inc. (a)
124,910
65
FleetCor Technologies, Inc. (a)
17,663
728
Mastercard, Inc., Class A
300,402
1,202
Visa, Inc., Class A
295,307
 
738,282
Interactive Media & Services
— 9.1%
2,162
Alphabet, Inc., Class A (a)
294,399
1,004
Meta Platforms, Inc., Class A (a)
297,074
 
591,473
IT Services — 0.2%
160
Akamai Technologies, Inc. (a)
16,814
Media — 0.2%
167
Omnicom Group, Inc.
13,529
Semiconductors &
Semiconductor Equipment
— 31.6%
2,247
Advanced Micro Devices,
Inc. (a)
237,553
836
Analog Devices, Inc.
151,968
1,399
Applied Materials, Inc.
213,711
328
Broadcom, Inc.
302,708
85
Enphase Energy, Inc. (a)
10,755
229
KLA Corp.
114,928
224
Lam Research Corp.
157,338
182
Lattice Semiconductor Corp. (a)
17,701
1,432
Marvell Technology, Inc.
83,414
909
Microchip Technology, Inc.
74,393
30
Monolithic Power Systems, Inc.
15,636
702
NVIDIA Corp.
346,472
719
ON Semiconductor Corp. (a)
70,793
Shares
Description
Value
 
Semiconductors &
Semiconductor Equipment
(Continued)
142
Skyworks Solutions, Inc.
$15,441
1,512
Texas Instruments, Inc.
254,107
 
2,066,918
Software — 29.7%
635
Adobe, Inc. (a)
355,181
45
ANSYS, Inc. (a)
14,349
357
Autodesk, Inc. (a)
79,233
303
Bentley Systems, Inc., Class B
15,123
454
Cadence Design Systems,
Inc. (a)
109,160
395
Crowdstrike Holdings, Inc.,
Class A (a)
64,397
290
Dynatrace, Inc. (a)
13,978
841
Gen Digital, Inc.
17,030
466
Intuit, Inc.
252,483
81
Manhattan Associates, Inc. (a)
16,412
808
Microsoft Corp.
264,830
509
Palo Alto Networks, Inc. (a)
123,840
110
PTC, Inc. (a)
16,189
1,189
Salesforce, Inc. (a)
263,316
339
ServiceNow, Inc. (a)
199,613
254
Synopsys, Inc. (a)
116,558
38
Tyler Technologies, Inc. (a)
15,140
 
1,936,832
Technology Hardware, Storage
& Peripherals — 4.6%
1,498
Apple, Inc.
281,429
222
NetApp, Inc.
17,028
 
298,457
Total Common Stocks
6,515,184
(Cost $5,485,904)
MONEY MARKET FUNDS — 0.2%
14,254
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
5.21% (b)
14,254
(Cost $14,254)
Total Investments — 100.0%
6,529,438
(Cost $5,500,158)
Net Other Assets and
Liabilities — (0.0)%
(849
)
Net Assets — 100.0%
$6,528,589
(a)
Non-income producing security.
(b)
Rate shown reflects yield as of August 31, 2023.
See Notes to Financial Statements
Page 18

First Trust Expanded Technology ETF (XPND)
Portfolio of Investments (Continued)
August 31, 2023 

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of August 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
8/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$6,515,184
$6,515,184
$— 
$— 
Money Market Funds
14,254
14,254
— 
— 
Total Investments
$6,529,438
$6,529,438
$— 
$— 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 19

First Trust Multi-Strategy Alternative ETF (LALT)
Portfolio of Investments
August 31, 2023 
Shares
Description
Value
EXCHANGE-TRADED FUNDS — 99.9%
Capital Markets — 99.9%
7,548
First Trust Alternative Absolute
Return Strategy ETF (a)
$218,666
4,343
First Trust Global Tactical
Commodity Strategy Fund (a)
106,186
1,876
First Trust Long/Short Equity
ETF (a)
100,572
4,438
First Trust Managed Futures
Strategy Fund (a)
216,598
5,950
First Trust Merger Arbitrage
ETF (a)
120,904
4,101
First Trust TCW Unconstrained
Plus Bond ETF (a)
99,654
1,025
iShares 7-10 Year Treasury
Bond ETF
97,170
1,361
iShares Gold Trust (b)
50,017
Total Investments — 99.9%
1,009,767
(Cost $1,005,782)
Net Other Assets and
Liabilities — 0.1%
1,023
Net Assets — 100.0%
$1,010,790
(a)
Investment in an affiliated fund.
(b)
Non-income producing security.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of August 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
Total
Value at
8/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Exchange-Traded Funds*
$1,009,767
$1,009,767
$— 
$— 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 20

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Page 21

First Trust Exchange-Traded Fund VIII
Statements of Assets and Liabilities
August 31, 2023 
 
First Trust
Innovation
Leaders ETF
(ILDR)
First Trust
Expanded
Technology ETF
(XPND)
First Trust
Multi-Strategy
Alternative ETF
(LALT)
ASSETS:
Investments, at value - Unaffiliated
$15,490,015
$6,529,438
$147,187
Investments, at value - Affiliated
— 
— 
862,580
Total investments, at value
15,490,015
6,529,438
1,009,767
Cash
— 
— 
1,193
Receivables:
Dividends
6,774
2,625
— 
Reclaims
322
— 
— 
Total Assets
15,497,111
6,532,063
1,010,960
 
LIABILITIES:
Investment advisory fees payable
7,897
3,474
170
Total Liabilities
7,897
3,474
170
NET ASSETS
$15,489,214
$6,528,589
$1,010,790
 
NET ASSETS consist of:
Paid-in capital
$16,013,359
$8,328,206
$1,000,028
Par value
8,500
3,000
500
Accumulated distributable earnings (loss)
(532,645
)
(1,802,617
)
10,262
NET ASSETS
$15,489,214
$6,528,589
$1,010,790
NET ASSET VALUE, per share
$18.22
$21.76
$20.21
Number of shares outstanding (unlimited number of shares authorized,
par value $0.01 per share)
850,002
300,002
50,002
Investments, at cost - Unaffiliated
$15,186,920
$5,500,158
$149,826
Investments, at cost - Affiliated
$— 
$— 
$855,956
Total investments, at cost
$15,186,920
$5,500,158
$1,005,782
See Notes to Financial Statements
Page 22

First Trust Exchange-Traded Fund VIII
Statements of Operations
For the Period Ended August 31, 2023 
 
First Trust
Innovation
Leaders ETF
(ILDR)
First Trust
Expanded
Technology ETF
(XPND)
First Trust
Multi-Strategy
Alternative ETF
(LALT) (a)
INVESTMENT INCOME:
Dividends - Unaffiliated
$20,639
$103,714
$485
Dividends - Affiliated
— 
— 
12,065
Foreign withholding tax
(451
)
— 
— 
Total investment income
20,188
103,714
12,550
 
EXPENSES:
Investment advisory fees
29,414
66,638
1,158
Total expenses
29,414
66,638
1,158
NET INVESTMENT INCOME (LOSS)
(9,226
)
37,076
11,392
 
NET REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments - Unaffiliated
(275,630
)
(1,264,614
)
9
Investments - Affiliated
— 
— 
(504
)
In-kind redemptions - Unaffiliated
— 
515,401
— 
Foreign currency transactions
55
— 
— 
Net realized gain (loss)
(275,575
)
(749,213
)
(495
)
Net change in unrealized appreciation (depreciation) on:
Investments - Unaffiliated
975,933
2,807,934
(2,639
)
Investments - Affiliated
— 
— 
6,624
Foreign currency translation
2
— 
— 
Net change in unrealized appreciation (depreciation)
975,935
2,807,934
3,985
NET REALIZED AND UNREALIZED GAIN (LOSS)
700,360
2,058,721
3,490
NET INCREASE (DECREASE) IN NET ASSETS RESULTING
FROM OPERATIONS
$691,134
$2,095,797
$14,882
(a)
Inception date is January 31, 2023, which is consistent with the commencement of investment operations and is the date the initial
creation units were established.
See Notes to Financial Statements
Page 23

First Trust Exchange-Traded Fund VIII
Statements of Changes in Net Assets
 
First Trust Innovation Leaders
ETF (ILDR)
First Trust Expanded Technology
ETF (XPND)
 
Year
Ended
8/31/2023
Year
Ended
8/31/2022
Year
Ended
8/31/2023
Year
Ended
8/31/2022
OPERATIONS:
Net investment income (loss)
$(9,226
)
$(16,898
)
$37,076
$31,444
Net realized gain (loss)
(275,575
)
(345,905
)
(749,213
)
(1,562,992
)
Net change in unrealized appreciation (depreciation)
975,935
(994,121
)
2,807,934
(2,600,150
)
Net increase (decrease) in net assets resulting from
operations
691,134
(1,356,924
)
2,095,797
(4,131,698
)
 
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Investment operations
— 
(5,085
)
(50,226
)
(16,900
)
 
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold
11,762,394
2,079,627
3,331,179
4,886,380
Cost of shares redeemed
— 
(1,125,105
)
(14,148,114
)
(1,837,015
)
Net increase (decrease) in net assets resulting from
shareholder transactions
11,762,394
954,522
(10,816,935
)
3,049,365
Total increase (decrease) in net assets
12,453,528
(407,487
)
(8,771,364
)
(1,099,233
)
 
NET ASSETS:
Beginning of period
3,035,686
3,443,173
15,299,953
16,399,186
End of period
$15,489,214
$3,035,686
$6,528,589
$15,299,953
 
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period
200,002
150,002
900,002
750,002
Shares sold
650,000
100,000
200,000
250,000
Shares redeemed
— 
(50,000
)
(800,000
)
(100,000
)
Shares outstanding, end of period
850,002
200,002
300,002
900,002
(a)
Inception date is January 31, 2023, which is consistent with the commencement of investment operations and is the date the initial
creation units were established.
See Notes to Financial Statements
Page 24

First Trust
Multi-Strategy
Alternative
ETF (LALT)
Period
Ended
8/31/2023(a)
$11,392
(495
)
3,985
14,882
(4,620
)
1,000,528
— 
1,000,528
1,010,790
— 
$1,010,790
— 
50,002
— 
50,002
See Notes to Financial Statements
Page 25

First Trust Exchange-Traded Fund VIII
Financial Highlights
For a share outstanding throughout each period
First Trust Innovation Leaders ETF (ILDR)
 
Year EndedAugust 31,
Period
Ended

8/31/2021  (a)
 
2023
2022
Net asset value, beginning of period
$15.18
$22.95
$20.07
Income from investment operations:
Net investment income (loss)
(0.04
)  (b)
(0.08
)
(0.02
)
Net realized and unrealized gain (loss)
3.08
(7.66
)
2.90
Total from investment operations
3.04
(7.74
)
2.88
Distributions paid to shareholders from:
Net investment income
— 
(0.00
)  (c)
— 
Net realized gain
— 
(0.03
)
— 
Total distributions
— 
(0.03
)
— 
Net asset value, end of period
$18.22
$15.18
$22.95
Total return (d)
20.03
%
(33.75
)%
14.35
%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$15,489
$3,036
$3,443
Ratio of total expenses to average net assets
0.75
%
0.75
%
0.75
%  (e)
Ratio of net investment income (loss) to average net assets
(0.24
)%
(0.51
)%
(0.49
)%  (e)
Portfolio turnover rate (f)
51
%
58
%
9
%
(a)
Inception date is May 25, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units
were established.
(b)
Based on average shares outstanding.
(c)
Amount represents less than $0.01.
(d)
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.
(e)
Annualized.
(f)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 26

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Expanded Technology ETF (XPND)
 
Year EndedAugust 31,
Period
Ended

8/31/2021  (a)
 
2023
2022
Net asset value, beginning of period
$17.00
$21.87
$20.18
Income from investment operations:
Net investment income (loss)
0.06
 (b)
0.04
(0.00
)  (c)
Net realized and unrealized gain (loss)
4.77
(4.89
)
1.69
Total from investment operations
4.83
(4.85
)
1.69
Distributions paid to shareholders from:
Net investment income
(0.07
)
(0.02
)
— 
Net asset value, end of period
$21.76
$17.00
$21.87
Total return (d)
28.55
%
(22.19
)%
8.37
%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$6,529
$15,300
$16,399
Ratio of total expenses to average net assets
0.65
%
0.65
%
0.65
%  (e)
Ratio of net investment income (loss) to average net assets
0.36
%
0.19
%
(0.03
)%  (e)
Portfolio turnover rate (f)
81
%
88
%
0
%
(a)
Inception date is June 14, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units
were established.
(b)
Based on average shares outstanding.
(c)
Amount represents less than $0.01.
(d)
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.
(e)
Annualized.
(f)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 27

First Trust Exchange-Traded Fund VIII
Financial Highlights (Continued)
For a share outstanding throughout the period
First Trust Multi-Strategy Alternative ETF (LALT)
 
Period
Ended

8/31/2023   (a)
 
Net asset value, beginning of period
$20.01
Income from investment operations:
Net investment income (loss) (b)
0.23
Net realized and unrealized gain (loss)
0.06
Total from investment operations
0.29
Distributions paid to shareholders from:
Net investment income
(0.09
)
Net asset value, end of period
$20.21
Total return (c)
1.47
%
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$1,011
Ratio of total expenses to average net assets (d)
0.20
%  (e)
Ratio of net investment income (loss) to average net assets
1.97
%  (e)
Portfolio turnover rate (f)
17
%
(a)
Inception date is January 31, 2023, which is consistent with the commencement of investment operations and is the date the initial creation units
were established.
(b)
Based on average shares outstanding.
(c)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The return presented does 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)
The Fund indirectly bears its proportionate share of fees and expenses incurred by the underlying funds in which the Fund invests. This ratio
does not include these indirect fees and expenses.
(e)
Annualized.
(f)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 28

Notes to Financial Statements
First Trust Exchange-Traded Fund VIII
August 31, 2023 
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 sixty-nine funds that are offering shares. This report covers the three funds (each a “Fund” and collectively, the “Funds”) listed below. The shares of each Fund are listed and traded on the NYSE Arca, Inc. 
First Trust Innovation Leaders ETF – (ticker “ILDR”)
First Trust Expanded Technology ETF – (ticker “XPND”)
First Trust Multi-Strategy Alternative ETF – (ticker “LALT”)(1)
(1)
Commenced investment operations on January 31, 2023.
Each Fund represents a separate series of shares of beneficial interest in the Trust. Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at net asset value (“NAV”), only in large blocks of shares known as “Creation Units.”
Each Fund is an actively managed exchange-traded fund. ILDR’s investment objective seeks to provide capital appreciation. XPND’s investment objective seeks to provide long-term capital appreciation. LALT’s investment objective is long-term total return.
Under normal market conditions, ILDR will invest at least 80% of its net assets (plus any borrowings for investment purposes) in common stock and depository receipts issued by U.S. and non-U.S. companies that may benefit from the development or application of scientific and technological innovation.
Under normal market conditions, XPND will invest at least 80% of its net assets (plus any borrowings for investment purposes) in the common stocks of companies identified by the Fund’s investment advisor as either information technology companies or financial companies and communication services companies whose operations are principally derived from and/or dependent upon technology. Prior to March 16, 2023, consumer discretionary companies were included in the Fund’s strategy. As of that date, financial companies replaced consumer discretionary companies in the strategy.
Under normal market conditions, LALT allocates its assets amongst a variety of alternative asset categories and strategies in an effort to provide lower correlation and diversifying risk exposures compared to traditional equity and fixed income benchmarks (e.g., the S&P 500® Index or Bloomberg Aggregate Bond Index) over various market cycles.
There can be no assurance that a Fund will achieve its investment objective. The Funds may not be appropriate for all investors.
2. Significant Accounting Policies
The Funds are each considered an investment company and follow accounting and reporting guidance under Financial Accounting Standards Board Accounting Standards Codification Topic 946, “Financial Services-Investment Companies.” The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of the financial statements. The preparation of the financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.
A. Portfolio Valuation
Each Fund’s NAV is determined daily as of the close of regular trading on the New York Stock Exchange (“NYSE”), normally 4:00 p.m. Eastern time, on each day the NYSE is open for trading. If the NYSE closes early on a valuation day, the NAV is determined as of that time. Foreign securities are priced using data reflecting the earlier closing of the principal markets for those securities. Each Fund’s NAV is calculated by dividing the value of all assets of each Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of shares outstanding.
Each Fund’s investments are valued daily at market value or, in the absence of market value with respect to any portfolio securities, at fair value. Market value prices represent readily available market quotations such as last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. Fair value prices represent any prices not considered