after
the market has closed but before the calculation of the Fund's net asset value
or make it difficult or impossible to obtain a reliable market
quotation; and a security whose price, as provided by the pricing service, does
not reflect the security’s fair value. As a general principle, the current fair
value of a security would appear to be the amount which the owner might
reasonably expect to receive for the portfolio investment upon the measurement
date under current market conditions. When fair value prices are used, generally
they will differ from the current market quotations or official closing prices
on the applicable exchange. A variety of factors may be considered in
determining the fair value of such securities. See the Fund's SAI for
details.
Because
foreign securities exchanges may be open on different days than the days during
which an investor may purchase or sell shares of the
Fund, the value of the Fund's securities may change on days when investors are
not able to purchase or sell shares of the Fund. The value of securities
denominated in foreign currencies is converted into U.S. dollars at the exchange
rates in effect at the time of valuation. Any use of a different rate from the
rates used by the Index may adversely affect a Fund's ability to track the
Index.
Fund
Service Providers
The
Bank of New York Mellon, 240 Greenwich Street, New York, New York 10286, acts as
the administrator, custodian and fund accounting and
transfer agent for the Fund. Chapman and Cutler LLP, 320 S. Canal St., Chicago,
Illinois 60606, serves as legal counsel to the Fund. First Trust serves as the
fund reporting agent for the Fund.
Index
Provider
The
Index is compiled by the Index Provider. The Index Provider is not affiliated
with the Fund, First Trust or FTP. The Fund is entitled to use the
Index pursuant to a sublicensing arrangement with First Trust, which in turn has
a licensing agreement with the Index Provider. The Index Provider or its agent
also serves as calculation agent for the Index (the “Index
Calculation Agent”). The Index
Calculation Agent is responsible for the management of the day-to-day operations
of the Index, including calculating the value of the Index every second, widely
disseminating the Index values every second and tracking corporate actions, some
of which result in Index adjustments.
Disclaimers
First
Trust does not guarantee the accuracy and/or the completeness of the Index or
any data included therein, and First Trust shall have no
liability for any errors, omissions or interruptions therein. First Trust makes
no warranty, express or implied, as to results to be obtained by the Fund,
owners of the shares of the Fund or any other person or entity from the use of
the Index or any data included therein. First Trust makes no express or implied
warranties, and expressly disclaims all warranties of merchantability or fitness
for a particular purpose or use with respect to the Index or any data included
therein. Without limiting any of the foregoing, in no event shall First Trust
have any liability for any special, punitive, direct, indirect or consequential
damages (including lost profits) arising out of matters relating to the use of
the Index, even if notified of the possibility of such damages.
The
Fund is not sponsored, endorsed, sold or promoted by Indxx, Inc. Indxx, Inc.
makes no representation or warranty, express or implied, to the
owners of the Fund or any member of the public regarding the advisability of
trading in the Fund. Indxx, Inc.’s only relationship to First Trust is the
licensing of certain trademarks and trade names of Indxx, Inc. and of the Indxx
US Aerospace & Defense Index, which is determined, composed and calculated
by Indxx, Inc. without regard to First Trust or the Fund. Indxx, Inc. has no
obligation to take the needs of First Trust or the owners of the Fund into
consideration in determining, composing or calculating the Indxx US Aerospace
& Defense Index. Indxx, Inc. is not responsible for and has not participated
in the determination of the timing of, prices at, or quantities of the Fund to
be listed or in the determination or calculation of the equation by which the
Fund is to be converted into cash. Indxx, Inc. has no obligation or liability in
connection with the administration, marketing or trading of the
Fund.
INDXX,
INC. DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE INDXX US
AEROSPACE & DEFENSE INDEX OR ANY
DATA INCLUDED THEREIN AND INDXX, INC. SHALL HAVE NO LIABILITY FOR ANY ERRORS,
OMISSIONS, OR INTERRUPTIONS THEREIN. INDXX, INC. MAKES NO WARRANTY, EXPRESS OR
IMPLIED, AS TO RESULTS TO BE OBTAINED BY FIRST TRUST, OWNERS OF THE FUND, OR ANY
OTHER PERSON OR ENTITY FROM THE USE OF THE INDXX US AEROSPACE & DEFENSE
INDEX OR ANY DATA INCLUDED THEREIN. INDXX, INC. MAKES NO EXPRESS OR IMPLIED
WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDXX US AEROSPACE
& DEFENSE INDEX OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE
FOREGOING, IN NO EVENT SHALL INDXX, INC. HAVE ANY LIABILITY FOR ANY LOST PROFITS