First Trust Exchange-Traded Fund VI

Book 1

 

First Trust NASDAQ Technology Dividend Index Fund (TDIV)

Multi-Asset Diversified Income Index Fund (MDIV)

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

First Trust BuyWrite Income ETF (FTHI)

First Trust Hedged BuyWrite Income ETF (FTLB)

First Trust Rising Dividend Achievers ETF (RDVY)

First Trust Dorsey Wright Focus 5 ETF (FV)

First Trust RBA American Industrial Renaissance® ETF (AIRR)

First Trust Dorsey Wright Momentum and Dividend ETF (DDIV)

First Trust Dorsey Wright International Focus 5 ETF (IFV)

First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC)

Annual Report
For the Year Ended
September 30, 2021

Table of Contents
First Trust Exchange-Traded Fund VI
Annual Report
September 30, 2021

2

3
Fund Performance Overview

4

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17

19

21

23

25

27

29

30
Portfolio of Investments

32

34

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49

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

Table of Contents
Shareholder Letter
First Trust Exchange-Traded Fund VI
Annual Letter from the Chairman and CEO
September 30, 2021
Dear Shareholders,
First Trust is pleased to provide you with the annual report for certain series of the First Trust Exchange-Traded Fund VI (the “Funds”), which contains detailed information about the Funds for the twelve months ended September 30, 2021.
A great deal has changed over the past 18 months. Suffice it to say that the dominant story in 2020 was the onset of the coronavirus (“COVID-19”) pandemic. It is still a huge story 20 months later, mostly due to the arrival of the Delta variant in the U.S. and the subsequent surge in cases around mid-2021. The Delta variant is twice as contagious as the previous variants, according to the Centers for Disease Control and Prevention (“CDC”). Fortunately, we have come to learn that the existing vaccines approved by the U.S. Food and Drug Administration have been effective in providing protection against the Delta variant, particularly with respect to keeping the people already vaccinated out of the intensive care unit. As I’m sure you are aware, a significant percentage of the U.S. population has chosen not to be vaccinated. These individuals have proven to be much more vulnerable to the virus and account for the lion’s share of hospitalizations, according to the CDC. While it is these individuals right to choose, unless mandated by a private company or government agency, the universe of people that have not gotten vaccinated is large enough that it has likely delayed the full economic recovery, at least on the margin, in our opinion. In the U.S., the path chosen by the federal government to help mitigate the economic fallout from the pandemic has been to inject trillions of dollars of liquidity (stimulus) into the financial system. To date, it appears to have been effective, however, it has contributed to a new and potentially ominous headwind for the economy: inflation.
The Consumer Price Index came in at 5.4% year-over-year in September 2021, the largest increase since 2008, according to data from the Bureau of Labor Statistics (“BLS”). The BLS also reported that the Producer Price Index was up 8.6% compared to a year ago, its highest level since 1981. These two barometers of inflation are clearly elevated. Why is rising inflation worth noting? It tends to reduce the purchasing power of the currency one uses over time. In the case of the U.S., it reduces how much consumers can buy with their dollars. A modest amount of inflation can be a sign that the economy is healthy. Too much inflation can derail an economy. While we are not even close to that point yet, investors should monitor the direction of inflation moving forward because the U.S. economy has yet to fully reopen from the COVID-19 pandemic and millions of workers remain on the sideline. Earlier this year, Federal Reserve Chairman Jerome Powell proclaimed that the spike in inflation in the U.S. would be relatively short-lived, or “transitory.” He cited the pandemic-related bottlenecks in the global supply chain for creating shortages in such critical industries as semiconductors as being largely responsible for the sharp rise in prices. With prices rising nearly across the board, his take on inflation is losing credibility with each passing month, in my opinion. If inflation continues to run hotter-than-expected, we believe that the Federal Reserve will likely have to alter its easy monetary policy in favor of one that boosts interest rates and bond yields.
The markets have performed quite well over the past 18 months. I believe that the combination of the federal government’s efforts in fast-tracking the vaccines, its decisiveness in injecting trillions of dollars of capital into the financial system to help backstop it, and the ability of millions of workers to adapt to working efficiently from home helped boost the confidence levels of investors throughout. Having said that, I still feel we need to fully reopen the U.S. economy, put the millions of people out of work back to work and remedy the global supply chain bottlenecks. While investors should be prepared for the possibility of some additional volatility moving forward, due to inflationary pressures, the potential for higher interest rates and bond yields, and next year’s mid-term election season, we encourage them to stay the course.
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

Table of Contents
Market Overview
First Trust Exchange-Traded Fund VI
Annual Report
September 30, 2021
Robert F. Carey, CFA
Senior Vice President and Chief Market Strategist
First Trust Advisors L.P.
Mr. Carey is responsible for the overall management of research and analysis of the First Trust product line. Mr. Carey has more than 30 years of experience as an Equity and Fixed-Income Analyst and is a recipient of the Chartered Financial Analyst (“CFA”) designation. He is a graduate of the University of Illinois at Champaign-Urbana with a B.S. in Physics. He is also a member of the Investment Analysts Society of Chicago and the CFA Institute. Mr. Carey has appeared as a guest on such programs as Bloomberg TV, CNBC, and WBBM Radio, and has been quoted by several publications, including The Wall Street Journal, The Wall Street Reporter, Bloomberg News Service, and Registered Rep.
State of the Global Economy
The International Monetary Fund (“IMF”) reported in its latest release that global gross domestic product (“GDP”) growth is expected to come in at 5.9% in 2021 and 4.9% in 2022, up from -3.1% in 2020. Keep in mind that the onset of the coronavirus (“COVID-19”) pandemic in the U.S. and most global regions occurred in the first quarter of 2020. The IMF sees the U.S. economy growing at 6.0% in 2021 and 5.2% in 2022, up from -3.4% in 2020. With respect to all Advanced Economies, the IMF is projecting GDP growth of 5.2% in 2021 and 4.5% in 2022, up from -4.5% in 2020. Lastly, the IMF projects Emerging Market and Developing Economies to grow at a rate of 6.4% in 2021 and 5.1% in 2022, up from -2.1% in 2020. Looking ahead to 2022, the outlook for growth is encouraging, but down a bit from the strong pandemic-induced recovery in 2021. The IMF is concerned that inflationary pressures stemming from the global supply chain bottlenecks could push prices higher if the problems persist. That scenario could, in turn, cause central banks to raise rates quickly to try and prevent inflation from overheating.
One of the better barometers for judging the overall business climate is mergers and acquisitions (“M&A”) activity, in our opinion. M&A deals totaled $4.3 trillion over the first nine months of 2021, the most ever recorded for that period, according to data from Refinitiv. The $1.52 trillion in deal value registered in the third quarter of 2021 was the highest ever for a calendar quarter. Executives are expanding their businesses aggressively in the current climate.
Performance of Global Stocks and Bonds
U.S. equities performed extremely well over the past year. The S&P 500®, S&P MidCap 400® and S&P SmallCap 600® Indices posted total returns of 30.00%, 43.68% and 57.64%, respectively, for the 12-month period ended September 30, 2021. Small- and mid-capitalization (“cap”) stocks significantly outperformed large-cap stocks over the period, an indication that investors were willing to assume more risk despite the ongoing COVID-19 pandemic, in our opinion. All 11 sectors that comprise the S&P 500® Index were up on a total return basis. The top-performer was the Energy sector, up 82.83%, while the worst result came from the Utilities sector, up just 11.06%.
A Bloomberg survey of 21 equity strategists found that their average 2021 year-end price target for the S&P 500® Index was 4,466 as of September 21, 2021, up from 4,335 on August 20, 2021, according to its own release. The highest and lowest estimates were 4,825 (up from 4,700) and 3,800 (unchanged), respectively. On September 30, 2021, the S&P 500® Index closed at 4,307.54, which was 5.06% below its all-time closing high of 4,536.95 on September 2, 2021. As of October 1, 2021, Bloomberg’s 2021, 2022 and 2023 consensus earnings growth rate estimates for the S&P  500® Index stood at 44.90%, 8.95% and 9.80%, respectively.
Foreign equities also performed well, but the broader indices continue to lag the performance of the major U.S. stock indices. Over the past 12 months, the MSCI World ex USA and MSCI Emerging Markets Indices posted total returns of 26.50% (USD) and 18.20% (USD), respectively, according to Bloomberg. The major foreign bond indices had mixed results. The Bloomberg Global Aggregate Index of higher quality debt posted a total return of -0.91% (USD), while the Bloomberg EM Hard Currency Aggregate Index of emerging markets debt rose by 3.15% (USD), according Bloomberg. Over that same period, the U.S. dollar rose by 0.36% against a basket of major currencies, as measured by the U.S. Dollar Index (DXY). The slight bump in the dollar had little influence on the performance of these foreign indices, in our opinion.
In the U.S. bond market, the top-performing major debt group we track was speculative-grade corporate bonds. The Bloomberg U.S. Corporate High Yield Index posted a total return of 11.28% for the 12-month period ended September 30, 2021. The worst-performing U.S. debt group that we track was government bonds. The Bloomberg U.S. Treasury: Intermediate Index posted a total return of -1.38%. The yield on the benchmark 10-Year Treasury Note (“T-Note”) rose by 80 basis points in the period to close at 1.49% on September 30, 2021, according to Bloomberg. For comparative purposes, the average yield on the 10-Year T-Note was 2.04% for the 10-year period ended September 30, 2021.
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Table of Contents
Fund Performance Overview (Unaudited)
First Trust NASDAQ Technology Dividend Index Fund (TDIV)
The First Trust NASDAQ Technology Dividend Index Fund (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an equity index called the Nasdaq Technology Dividend IndexTM (the “Index”). The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “TDIV.” The Fund normally invests at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index.
The Index includes up to 100 technology and telecommunications companies that pay a regular or common dividend. To be selected for the Index, a company must be classified as a technology or telecommunications company under the Industry Classification Benchmark and have a minimum market capitalization of $500 million. The Index may include U.S.-listed securities of non-U.S. companies, including companies located in emerging market countries.
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
9/30/21
5 Years
Ended
9/30/21
Inception
(8/13/12)
to 9/30/21
  5 Years
Ended
9/30/21
Inception
(8/13/12)
to 9/30/21
Fund Performance            
NAV 31.29% 16.67% 14.91%   116.21% 255.62%
Market Price 31.35% 16.67% 14.90%   116.17% 255.53%
Index Performance            
Nasdaq Technology Dividend IndexTM 32.13% 17.43% 15.66%   123.30% 277.40%
S&P 500® Index 30.00% 16.90% 15.34%   118.26% 268.18%
S&P 500® Information Technology Index 28.90% 28.42% 22.12%   249.25% 520.29%
(See Notes to Fund Performance Overview on page 29.)
The Fund generated a net asset value (“NAV”) return of 31.29% during the 12-month period covered by this report. During the same period, the S&P 500® Index (the “Benchmark”) generated a return of 30.00%. The Information Technology sector received the largest weight in the Fund with a 79.0% allocation. This sector also generated the largest contribution to the Fund’s return at 27.8% for the period. There was no negative contribution to the Fund’s return from any sector during the period, but the Consumer Discretionary sector provided the smallest contribution to the Fund’s return at 0.0%. On a relative basis, the Fund outperformed the Benchmark. The largest source of relative outperformance came from the Information Technology sector, which generated 5.1% of relative outperformance during the period. A portion of the Fund’s outperformance was reduced by investments in the Communication Services sector which provided a -3.6% relative drag on performance over the period.

Nasdaq® and Nasdaq Technology Dividend IndexTM are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
Page 4

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust NASDAQ Technology Dividend Index Fund (TDIV) (Continued)
Sector Allocation % of Total
Investments
Information Technology 82.9%
Communication Services 16.4
Industrials 0.7
Consumer Discretionary 0.0*
Health Care 0.0*
Total 100.0%
    
* Amount is less than 0.1%.
Top Ten Holdings % of Total
Investments
International Business Machines Corp. 8.3%
Intel Corp. 8.2
Broadcom, Inc. 8.2
Microsoft Corp. 7.8
Apple, Inc. 7.8
Texas Instruments, Inc. 4.2
Oracle Corp. 4.1
QUALCOMM, Inc. 3.7
Taiwan Semiconductor Manufacturing Co., Ltd., ADR 3.5
Analog Devices, Inc. 2.9
Total 58.7%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
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Table of Contents
Fund Performance Overview (Unaudited) (Continued)
Multi-Asset Diversified Income Index Fund (MDIV)
The Multi-Asset Diversified Income Index Fund (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Nasdaq US Multi-Asset Diversified Income IndexSM (the “Index”). The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “MDIV.” The Fund normally invests at least 90% of its net assets (including investment borrowings) in the common stocks and/or depositary receipts, real estate investment trusts (“REITs”), preferred securities, master limited partnerships (“MLPs”) and exchange-traded fund (“ETF”) that comprise the Index. The Index allocates 20% of its weight to the equity securities segment, 20% of its weight to the REIT segment, 20% of its weight to the preferred securities segment, 20% of its weight to the MLP segment and 20% of its weight to the high yield corporate bond segment. The ETF in which the Fund invests may be advised by First Trust Advisors L.P.
The Index is designed to provide exposure to five asset segments, each selected to result in a consistent and high yield for the Index. The Index is reconstituted and rebalanced quarterly and the Fund will make corresponding changes to its portfolio shortly after the Index changes are made public.
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
9/30/21
5 Years
Ended
9/30/21
Inception
(8/13/12)
to 9/30/21
  5 Years
Ended
9/30/21
Inception
(8/13/12)
to 9/30/21
Fund Performance            
NAV 27.50% 3.10% 3.84%   16.47% 40.95%
Market Price 27.68% 3.10% 3.84%   16.49% 41.04%
Index Performance            
Nasdaq US Multi-Asset Diversified Income IndexSM 28.34% 3.71% 4.49%   19.97% 49.37%
S&P 500® Index 30.00% 16.90% 15.34%   118.26% 268.18%
Dow Jones U.S. Select DividendTM Index* 46.15% 10.27% 12.13%   63.04% 184.50%
(See Notes to Fund Performance Overview on page 29.)
The Fund generated a NAV return of 27.50% during the 12-month period covered by this report. During the same period, the S&P 500® Index (the “Benchmark”) generated a return of 30.00%. The greatest contribution to the Fund’s return came from the MLPs sleeve, which contributed 12.8% to the Fund’s performance. All five sleeves had positive returns and positive contributions to the Fund’s total return. On a relative basis, the Fund underperformed the Benchmark. The greatest source of underperformance came from the allocation to Preferred securities and to High-Yield Corporate Debt. The Preferred sleeve contributed only 1.0% to the Fund’s total return and caused -5.1% of underperformance for the Fund versus the Benchmark while the High-Yield Corporate Debt sleeve contributed 1.7% to the Fund’s return and -4.7% to underperformance versus the Benchmark. Meanwhile, the allocation to the MLPs sleeve caused 8.5% of outperformance.

* The Dow Jones U.S. Select DividendTM Index represents 100 of the United States’ leading stocks by dividend yield.
Nasdaq® and Nasdaq US Multi-Asset Diversified Income IndexSM are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
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Table of Contents
Fund Performance Overview (Unaudited) (Continued)
Multi-Asset Diversified Income Index Fund (MDIV) (Continued)
Sector Allocation % of Total
Investments
Financials 24.8%
Other* 20.2
Energy 19.7
Real Estate 13.0
Utilities 9.4
Consumer Staples 5.9
Communication Services 2.3
Health Care 1.9
Industrials 1.5
Information Technology 0.9
Materials 0.4
Total 100.0%
    
* Exchange-traded fund with holdings representing multiple sectors.
Top Ten Holdings % of Total
Investments
First Trust Tactical High Yield ETF 20.2%
Annaly Capital Management, Inc. 1.6
PennyMac Mortgage Investment Trust 1.5
AGNC Investment Corp. 1.5
USA Compression Partners, L.P. 1.4
Chimera Investment Corp. 1.3
KKR Real Estate Finance Trust, Inc. 1.3
Shell Midstream Partners, L.P. 1.2
Icahn Enterprises, L.P. 1.1
KNOT Offshore Partners, L.P. 1.1
Total 32.2%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
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Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust S&P International Dividend Aristocrats ETF (FID)
The First Trust S&P International Dividend Aristocrats ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the S&P International Dividend Aristocrats Index (the “Index”). The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “FID.” The Fund normally invests at least 90% of its net assets (including investment borrowings) in the equity securities that comprise the Index. The Index measures the performance of high dividend yielding companies that have followed a managed-dividends policy of increasing or maintaining dividends for at least ten consecutive years.
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
9/30/21
5 Years
Ended
9/30/21
Inception
(8/22/13)
to 9/30/21
  5 Years
Ended
9/30/21
Inception
(8/22/13)
to 9/30/21
Fund Performance            
NAV 28.79% 4.87% 3.15%   26.87% 28.57%
Market Price 28.30% 4.98% 3.12%   27.49% 28.27%
Index Performance            
S&P International Dividend Aristocrats Index(1) 30.96% N/A N/A   N/A N/A
Dow Jones EPAC Select DividendTM Index(2) 28.78% 6.15% 3.99%   34.75% 37.33%
MSCI World ex USA Index 26.50% 8.88% 6.14%   52.99% 62.11%
(See Notes to Fund Performance Overview on page 29.)
The Fund generated a NAV return of 28.79% during the 12-month period covered by this report. During the same period, the MSCI World ex USA Index (the “Benchmark”) generated a return of 26.50%. Canada received the greatest allocation of any country in the Fund in the period. With an allocation of 26.6%, investments in Canada contributed 11.8% to the Fund’s return, which was the greatest contribution to the Fund’s return of any country in the Fund. The most negative contribution to the Fund’s return came from investments in Germany. These investments received an allocation of 0.9% and caused -0.5% contribution to the Fund’s return. The Fund’s currency exposure had a 1.5% impact on performance during the period. On a relative basis, the Fund outperformed the Benchmark. The greatest source of outperformance for the Fund came from investments in Canada, in which the Fund was significantly overweight in comparison to the Benchmark. Investments in Canada caused 4.9% of outperformance for the Fund versus the Benchmark. Meanwhile, investments in the United Kingdom caused the most underperformance for the Fund versus the Benchmark during the period covered by this report. These investments received an allocation in the Fund of 9.3% and caused -1.8% of underperformance for the Fund.

(1) On August 30, 2018, the Fund’s underlying index changed from the NASDAQ International Multi-Asset Diversified Income IndexSM to the S&P International Dividend Aristocrats Index (the “Index”). Therefore, the Fund’s performance and historical returns shown for the periods prior to August 30, 2018, are not necessarily indicative of the performance that the Fund, based on its current index, would have generated. Since the Index had an inception date of April 30, 2018, it was not in existence for all of the periods disclosed. The old index was terminated on November 23, 2018, so performance data does not exist for these time periods.
(2) The Dow Jones EPAC Select DividendTM Index measures the performance of a selected group of companies, from non-U.S. developed markets (Europe, Pacific Asia, and Canada), that have provided relatively high dividend yields on a consistent basis over time.
S&P International Dividend Aristocrats Index (“Index”) is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and has been licensed for use by First Trust. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by First Trust. The Fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product nor do they have any liability for any errors, omissions, or interruptions of the Index.
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Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust S&P International Dividend Aristocrats ETF (FID) (Continued)
Sector Allocation % of Total
Investments
Financials 25.8%
Utilities 20.6
Real Estate 12.2
Consumer Staples 9.5
Communication Services 9.4
Consumer Discretionary 6.4
Energy 5.2
Industrials 4.2
Health Care 3.0
Materials 2.4
Information Technology 1.3
Total 100.0%
    
Country Allocation % of Total
Investments
Canada 25.4%
Japan 18.0
Hong Kong 14.8
United Kingdom 11.3
Finland 4.6
Switzerland 4.5
Spain 2.8
France 2.6
United Arab Emirates 2.4
Mexico 1.9
Bermuda 1.8
South Korea 1.5
South Africa 1.4
Australia 1.3
Sweden 1.3
Belgium 1.2
Singapore 1.1
Cayman Islands 1.1
Germany 1.0
Total 100.0%
Top Ten Holdings % of Total
Investments
Enagas S.A. 2.8%
Japan Tobacco, Inc. 2.2
Power Assets Holdings Ltd. 2.2
Fortum Oyj 2.0
Keyera Corp. 2.0
Arca Continental S.A.B. de C.V. 1.9
SmartCentres Real Estate Investment Trust 1.9
Pembina Pipeline Corp. 1.8
GlaxoSmithKline PLC 1.8
CK Infrastructure Holdings Ltd. 1.8
Total 20.4%
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Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust S&P International Dividend Aristocrats ETF (FID) (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 that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
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Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust BuyWrite Income ETF (FTHI)
The First Trust BuyWrite Income ETF (the “Fund”) is an actively managed exchange-traded fund. The Fund’s primary investment objective is to provide current income. The Fund’s secondary investment objective is to provide capital appreciation. Under normal market conditions, the Fund invests primarily in equity securities listed on U.S. exchanges. The Fund also employs an “option strategy” in which it will write U.S. exchange-traded covered call options on the S&P 500® Index (the “Index”) to seek additional cash flow in the form of premiums on the options that may be distributed to shareholders on a monthly basis. The equity securities held by the Fund are selected using a mathematical optimization process which attempts to favor higher dividend paying common stocks for the Fund’s portfolio. The shares of the Fund are listed and trade on the Nasdaq Stock Market LLC under the ticker symbol “FTHI.”
Portfolio management decisions are made under the direction of the following Portfolio Managers:
John Gambla, CFA, FRM, PRM, Senior Portfolio Manager of First Trust
Rob A. Guttschow, CFA, Senior Portfolio Manager of First Trust
Overall Market Recap
U.S. economic growth was strong during the fiscal period from October 1, 2020 to September 30, 2021. During the first three quarters of the fiscal period, quarter-over-quarter gross domestic product (“GDP”) growth averaged 5.8% on an annualized basis. Growth appears to have cooled only slightly in the final three months of the fiscal period with consensus estimates for the period being 3.0% annualized quarter-over-quarter growth. Non-Farm payrolls (i.e., jobs) increased by 5.688 million during the fiscal period, according to a survey from the U.S. Bureau of Labor Statistics (“BLS”), resulting in the unemployment rate falling from 7.8% to 4.8% during the fiscal period. Job growth is likely to remain strong in the near future as U.S. job openings reached an all-time high in July of 2021 with 11.098 million positions open according to the BLS.
Solid gains in the unemployment rate have boosted paychecks throughout the fiscal year with average hourly earnings up 4.6% year-over-year. Despite the big increase, consumers are not necessarily feeling better off as the year-over-year Consumer Price Index was up 5.6% in the same fiscal period, resulting in a decrease in real earnings of 0.8%. The increase in inflation, according to the Federal Reserve (the “Fed”), is likely to be transitory. Monetary policy is still accommodative, but likely to get less so in the future as the Fed will soon begin to slow or taper their monthly purchases of treasuries and mortgage-backed securities. Market expectations for the timing of an increase in the Fed Funds rate, currently at 0.25%, is sometime between late second quarter and the end of the third quarter of 2022.
The U.S. equity market, as represented by the Index, rallied during the fiscal period, up 30.00%, as the solid GDP growth and the declining unemployment rate indicated a strong economic recovery from the early 2020 coronavirus-induced shock. Smaller capitalization stocks, as represented by the Russell 2000 Index, performed particularly well during the fiscal period, up 47.68%, as they benefitted from the gradual reopening of the U.S. economy. Interest rates rose during the fiscal period with two-year rates up 0.15% and ten-year rates up 0.80%. The broader bond market, as represented by the Bloomberg U.S. Aggregate Bond Index, was down -0.90% on a total return basis for the fiscal period.
Page 11

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust BuyWrite Income ETF (FTHI) (Continued)
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
9/30/21
5 Years
Ended
9/30/21
Inception
(1/6/14)
to 9/30/21
  5 Years
Ended
9/30/21
Inception
(1/6/14)
to 9/30/21
Fund Performance            
NAV 17.31% 5.40% 5.57%   30.06% 52.08%
Market Price 16.93% 5.39% 5.58%   29.99% 52.16%
Index Performance            
CBOE S&P 500 BuyWrite Monthly Index* 21.10% 6.95% 6.47%   39.93% 62.36%
S&P 500® Index 30.00% 16.90% 13.95%   118.26% 174.44%
(See Notes to Fund Performance Overview on page 29.)
Performance Review
The Fund returned 16.93% on a market price basis and 17.31% on a net asset value (“NAV”) basis for the 12-month period ended September 30, 2021. The Fund’s benchmark, the CBOE S&P 500 BuyWrite Monthly Index (the “Benchmark”) returned 21.10% during the same period. During the fiscal period, the Fund paid a distribution in each month of $0.08 per share with the payable date being the last business day of the month. The Fund’s NAV as of September 30, 2021 was $21.42.
The Fund tilts its equity holdings toward higher paying dividend stocks and attempts to limit the amount of overlap between the equity holdings and the Index. By limiting the overlap between the equity holdings and the Index, the Fund seeks to maintain the favorable tax treatment for any gains/losses from the Index options held in the portfolio. Additionally, during this performance period where possible, the portfolio managers favored companies that were generating enough free cash flow to pay dividends, execute stock buybacks, and/or pay-down debt. The portfolio managers believe that a portfolio tilted toward higher dividend paying companies with solid cash flow fundamentals will, over time, offer investors attractive risk-adjusted total returns relative to the Index.
The Fund’s equity holdings during the 12-month period ended September 30, 2021 lagged the Benchmark’s equity holdings. Overall, the Fund’s tilt toward higher dividend paying, cash flow generating companies was rewarded with solid absolute returns during the fiscal period, however, versus the Benchmark, the tilt was not rewarded, resulting in underperformance. Relative return for the period was negatively affected by the Fund’s conservative positioning within the Information Technology sector, the largest sector by weight within the Benchmark. The Fund, on average, held 15.4% of its portfolio in Information Technology stocks versus the Benchmark’s weight of 27.4%. Additionally, the Fund was hurt by its overweight to the Materials sector and the poor selection of stocks within that sector. Offsetting some of the negative relative performance from the Information Technology and Materials sector allocations was the Fund’s overweight to the Financials sector, where the Fund was on average 17.52% invested versus the Benchmark’s average weight of 10.95%. Finally, the poor selection of companies in the Communication Services sector detracted from relative returns throughout the fiscal year.
For the fiscal period, the Fund’s “option strategy” of selling Index call options slightly underperformed the Benchmark’s option strategy. The small underperformance was driven by the Fund’s longer dated expirations, selling 1-month, 2-month and 3-month options versus the Index’s 1-month to expiration options overwrite. The longer dated options, in aggregate, generated less total option premium to offset and reduce the impact of the equity market rally on the final value of the options as they expired or were closed out. On an absolute basis, the option over-write detracted from portfolio returns as the short call option positions resulted in realized losses as the Index rallied strongly during the fiscal period.
Market and Fund Outlook
Today, we believe the Fund is well positioned to achieve its primary and secondary investment objectives of providing current income and seeking capital appreciation. The Fund is invested in a broad array of U.S. equity securities with a market cap-weighted dividend yield of 2.49% versus the Index dividend yield of 1.73%. As of the end of the fiscal period, the Fund’s option strategy was overwriting 59% of the Fund’s assets with an average time to expiration of 44 days. The combination of our dividend tilted equity holdings plus our options strategy provide a strong base that we believe will allow the Fund to generate attractive risk-adjusted total returns going forward and will be supportive of the Fund’s primary objective of providing current income.

* The CBOE S&P 500 BuyWrite Monthly Index is a benchmark index designed to track the performance of a hypothetical buy-write strategy on the S&P 500® Index.
Page 12

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust BuyWrite Income ETF (FTHI) (Continued)
Sector Allocation % of Total
Investments
Financials 19.3%
Health Care 17.7
Information Technology 14.3
Energy 10.0
Consumer Discretionary 9.8
Materials 9.3
Communication Services 9.2
Industrials 5.6
Consumer Staples 3.3
Real Estate 0.8
Utilities 0.7
Total 100.0%
    
Fund Allocation % of Net Assets
Common Stocks 93.8%
Real Estate Investment Trusts 4.6
Master Limited Partnerships 0.9
Call Options Written (0.3)
Net Other Assets and Liabilities 1.0
Total 100.0%
Top Ten Holdings % of Total
Investments
Apple, Inc. 4.5%
Microsoft Corp. 4.1
Amazon.com, Inc. 2.7
PNC Financial Services Group (The), Inc. 2.7
General Electric Co. 2.3
M&T Bank Corp. 2.1
US Bancorp 1.9
Lumen Technologies, Inc. 1.8
Campbell Soup Co. 1.6
Alphabet, Inc., Class A 1.6
Total 25.3%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
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Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Hedged BuyWrite Income ETF (FTLB)
The First Trust Hedged BuyWrite Income ETF (the “Fund”) is an actively managed exchange-traded fund. The Fund’s investment objective is to provide current income. Under normal market conditions, the Fund invests primarily in equity securities listed on U.S. exchanges. The Fund also employs an “option strategy” in which it writes U.S. exchange-traded covered call options on the S&P 500® Index (the “Index”) to seek additional cash flow in the form of premiums on the options. The premiums may be distributed to shareholders on a monthly basis or used to purchase U.S. exchange-traded put options on the Index that seek to provide the Fund with downside protection and which are expected to reduce the Fund’s price sensitivity to declining markets. The equity securities held by the Fund are selected using a mathematical optimization process which attempts to favor higher dividend paying common stocks for the Fund’s portfolio. The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “FTLB.”
Portfolio Management Team
Portfolio management decisions are made under the direction of the following Portfolio Managers:
John Gambla, CFA, FRM, PRM, Senior Portfolio Manager of First Trust
Rob A. Guttschow, CFA, Senior Portfolio Manager of First Trust
Overall Market Recap
U.S. economic growth was strong during the fiscal period from October 1, 2020 to September 30, 2021. During the first three quarters of the fiscal period, quarter-over-quarter gross domestic product (“GDP”) growth averaged 5.8% on an annualized basis. Growth appears to have cooled only slightly in the final three months of the fiscal period with consensus estimates for the period being 3.0% annualized quarter- over-quarter growth. Non-Farm payrolls (i.e., jobs) increased by 5.688 million during the fiscal period, according to a survey from the U.S. Bureau of Labor Statistics (“BLS”) resulting in the unemployment rate falling from 7.8% to 4.8% during the fiscal period. Job growth is likely to remain strong in the near future as U.S. job openings reached an all-time high in July of 2021 with 11.098 million positions open according to the BLS.
Solid gains in the unemployment rate have boosted paychecks throughout the fiscal year with average hourly earnings up 4.6% year-over-year. Despite the big increase, consumers are not necessarily feeling better off as the year-over-year Consumer Price Index was up 5.6% in the same fiscal period, resulting in a decrease in real earnings of 0.8%. The increase in inflation, according to the Federal Reserve (the “Fed”), is likely to be transitory. Monetary policy is still accommodative, but likely to get less so in the future as the Fed will soon begin to slow or taper their monthly purchases of treasuries and mortgage-backed securities. Market expectations for the timing of an increase in the Fed Funds rate, currently at 0.25%, is sometime between late second quarter and the end of the third quarter of 2022.
The U.S. equity market, as represented by the Index, rallied during the fiscal period, up 30.00%, as the solid GDP growth and the declining unemployment rate indicated a strong economic recovery from the early 2020 coronavirus-induced shock. Smaller capitalization stocks, as represented by the Russell 2000 Index, performed particularly well during the fiscal period, up 47.68%, as they benefitted from the gradual re-opening of the US economy. Interest rates rose during the fiscal period with two-year rates up 0.15% and ten-year rates up 0.80%. The broader bond market, as represented by the Bloomberg U.S. Aggregate Bond Index, was down -0.90% on a total return basis for the fiscal period.
Page 14

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Hedged BuyWrite Income ETF (FTLB) (Continued)
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
9/30/21
5 Years
Ended
9/30/21
Inception
(1/6/14)
to 9/30/21
  5 Years
Ended
9/30/21
Inception
(1/6/14)
to 9/30/21
Fund Performance            
NAV 13.66% 3.89% 4.03%   21.03% 35.75%
Market Price 13.71% 4.35% 4.04%   23.75% 35.84%
Index Performance            
CBOE S&P 500 95-110 Collar IndexSM* 18.81% 15.10% 10.52%   102.03% 116.72%
S&P 500® Index 30.00% 16.90% 13.95%   118.26% 174.44%
(See Notes to Fund Performance Overview on page 29.)
Performance Review
The Fund returned 13.71% on a market price basis and 13.66% on a net asset value (“NAV”) basis for the 12-month period ended September 30, 2021. The Fund’s benchmark, the CBOE S&P 500 95-110 Collar IndexSM (the “Benchmark”), returned 18.81% during the same period. During the fiscal period, the Fund paid a distribution in each month of $0.055 per share with the payable date being the last business day of the month. The Fund’s NAV as of September 30, 2021 was $21.17.
The Fund tilts its equity holdings toward higher paying dividend stocks and attempts to limit the amount of overlap between the equity holdings and the Index. By limiting the overlap between the equity holdings and the Index, the Fund seeks to maintain the favorable tax treatment for any gains/losses from the Index options held in the portfolio. Additionally, during this performance period where possible, the portfolio managers favored companies that were generating enough free cash flow to pay dividends, execute stock buybacks, and/or pay-down debt. The portfolio managers believe that a portfolio tilted toward higher dividend paying companies with solid cash flow fundamentals will, over time, offer investors attractive risk-adjusted total returns relative to the Index.
For the fiscal period, the Fund’s equity holdings lagged the Benchmark’s equity holdings. Overall, the Fund’s tilt toward higher dividend paying, cash flow generating companies was rewarded with solid absolute returns during the fiscal period, however, versus the Benchmark, the allocation was not rewarded, resulting in underperformance. Relative return for the period was negatively affected by the Fund’s conservative positioning within the information technology sector, the largest sector by weight within the Benchmark. The Fund, on average, held 15.4% of its portfolio in Information Technology stocks versus the Benchmark’s weight of 27.4% Additionally, the Fund was hurt by its overweight to the Materials sector and the poor selection of stocks within that sector. Offsetting some of the negative relative performance from the Industrial Technology and Materials sectors allocation was the Fund’s overweight to the Financials sector, where the Fund was, on average, 17.5% invested versus the Benchmark’s average weight of 10.95%. Finally, the poor selection of companies in the Communication Services sector detracted from relative returns throughout the fiscal year.
The Fund’s “option strategy” of selling Index call options and buying puts slightly outperformed the Benchmark’s option strategy during the fiscal period, reducing the overall amount of the Fund’s underperformance. The outperformance was predominantly driven by the Fund’s lower cost strategy of buying 10% out-of-the-money puts versus the Benchmark’s strategy of buying 5% out-of-the-money puts. In a rising market, the lower cost of the further out-of-the-money puts reduces the overall cost of the hedging strategy. On an absolute basis, the option strategy detracted from portfolio returns as the short call option positions resulted in realized losses as the Index rallied strongly during the fiscal period.
Market and Fund Outlook
Today, we believe the Fund is well positioned to achieve its primary objective of providing current income. The Fund is invested in a broad array of U.S. equity securities with a market cap-weighted dividend yield of 2.49% versus the Index dividend yield of 1.81%. As of the end of the fiscal period, the Fund’s call option strategy was overwriting 58.8% of the Fund’s assets with an average time to expiration of 47 days. Additionally, the Fund has hedged some of its downside with long positions in puts comprised of a notional value equal to 40.7% of the Fund’s NAV. The puts have 240 days to expiration and are a weighted average 8.88% out-of-the-money. The combination of our dividend tilted equity holdings plus our options strategy provide a strong base that we believe will allow the Fund to generate attractive risk-adjusted total returns going forward and be supportive of the Fund’s primary objective of providing current income.

* The CBOE S&P 500 95-110 Collar IndexSM is designed to protect an investment in S&P 500® stocks against market declines. The passive collar strategy reflected by the index entails: holding the stocks in the S&P 500® Index; buying three-month S&P 500® put options to protect this S&P 500® portfolio from market decreases; and selling one-month S&P 500® call options to help finance the cost of the put options.
Page 15

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Hedged BuyWrite Income ETF (FTLB) (Continued)
Sector Allocation % of Total
Investments
Financials 19.2%
Health Care 17.8
Information Technology 14.3
Energy 10.0
Consumer Discretionary 9.8
Materials 9.3
Communication Services 9.2
Industrials 5.6
Consumer Staples 3.3
Real Estate 0.8
Utilities 0.7
Total 100.0%
    
Fund Allocation % of Net Assets
Common Stocks 92.7%
Real Estate Investment Trusts 4.5
Put Options Purchased 1.7
Master Limited Partnerships 0.9
Call Options Written (0.4)
Put Options Written (0.3)
Net Other Assets and Liabilities 0.9
Total 100.0%
Top Ten Holdings % of Total
Investments
Apple, Inc. 4.5%
Microsoft Corp. 4.1
Amazon.com, Inc. 2.7
PNC Financial Services Group (The), Inc. 2.7
General Electric Co. 2.3
M&T Bank Corp. 2.1
US Bancorp 1.9
Lumen Technologies, Inc. 1.7
Campbell Soup Co. 1.6
Alphabet, Inc., Class A 1.6
Total 25.2%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 16

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Rising Dividend Achievers ETF (RDVY)
The First Trust Rising Dividend Achievers ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called Nasdaq US Rising Dividend AchieversTM Index (the “Index”). The Fund normally invests at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index. The Index includes 50 U.S. exchange-traded equity securities, including securities issued by non-U.S. companies that trade on U.S. securities exchanges in the form of depositary receipts. The Index is designed to provide access to a diversified portfolio of small, mid and large capitalization companies with a history of raising their dividends while exhibiting the characteristics to continue to do so in the future by including companies with strong cash balances, low debt and increasing earnings. The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “RDVY.”
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
9/30/21
5 Years
Ended
9/30/21
Inception
(1/6/14)
to 9/30/21
  5 Years
Ended
9/30/21
Inception
(1/6/14)
to 9/30/21
Fund Performance            
NAV 47.21% 18.28% 13.87%   131.52% 173.04%
Market Price 47.18% 18.28% 13.87%   131.47% 172.97%
Index Performance            
Nasdaq US Rising Dividend AchieversTM Index 48.14% 18.94% 14.49%   138.07% 184.71%
Dow Jones U.S. Select DividendTM Index* 46.15% 10.27% 10.75%   63.04% 120.20%
(See Notes to Fund Performance Overview on page 29.)
The Fund generated a NAV return of 47.21% during the 12-month period covered by this report. During the same period, the Dow Jones U.S. Select Dividend™ Index (the “Benchmark”) generated a return of 46.15%. The Information Technology Sector received a 35.0% allocation in the Fund during the period, which was the Fund’s largest allocation. The Financials sector provided the largest contribution to the Fund’s return at 21.7%. There was no negative contribution to the Fund’s return from any sector, but investments in the Consumer Staples sector generated a 0.6% return for the period, which was the smallest contribution to the Fund’s return. On a relative basis, the Fund outperformed the Benchmark. The largest source of this outperformance came from the Utilities sector, which generated 7.1% of relative outperformance. A portion of the Fund’s outperformance was reduced by the -3.7% relative underperformance found in the Energy sector, in which the Fund had no investments during the period.

* The Dow Jones U.S. Select DividendTM Index represents 100 of the United States’ leading stocks by dividend yield.
Nasdaq® and Nasdaq US Rising Dividend AchieversTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
Page 17

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Rising Dividend Achievers ETF (RDVY) (Continued)
Sector Allocation % of Total
Investments
Information Technology 35.6%
Financials 32.7
Consumer Discretionary 9.7
Materials 6.0
Industrials 6.0
Communication Services 4.1
Health Care 3.9
Consumer Staples 2.0
Total 100.0%
Top Ten Holdings % of Total
Investments
Fox Corp., Class A 2.2%
Popular, Inc. 2.2
Bank of America Corp. 2.1
JPMorgan Chase & Co. 2.1
PNC Financial Services Group (The), Inc. 2.1
American Express Co. 2.1
Jefferies Financial Group, Inc. 2.1
Mastercard, Inc., Class A 2.1
Bank of New York Mellon (The) Corp. 2.1
Hartford Financial Services Group (The), Inc. 2.1
Total 21.2%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 18

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Dorsey Wright Focus 5 ETF (FV)
The First Trust Dorsey Wright Focus 5 ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Dorsey Wright Focus FiveTM Index (the “Index”). The Fund normally invests at least 90% of its net assets (including investment borrowings) in the exchange-traded funds (“ETFs”) that comprise the Index. The ETFs comprising the Index selection universe are advised by First Trust Advisors L.P. (“First Trust”), the Fund’s investment advisor. The Index is constructed pursuant to Dorsey, Wright & Associates, LLC’s (the “Index Provider”) proprietary methodology, which takes into account the performance of each of the First Trust sector-based ETFs relative to one another. The Index is designed to provide targeted exposure to the five First Trust sector-based ETFs that the Index Provider believes offer the greatest potential to outperform the other ETFs in the selection universe and that satisfy certain trading volume and liquidity requirements. The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “FV.”
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
9/30/21
5 Years
Ended
9/30/21
Inception
(3/5/14)
to 9/30/21
  5 Years
Ended
9/30/21
Inception
(3/5/14)
to 9/30/21
Fund Performance            
NAV 34.31% 15.33% 11.95%   104.08% 135.09%
Market Price 34.06% 15.32% 11.94%   103.95% 134.94%
Index Performance            
Dorsey Wright Focus FiveTM Index 34.74% 15.64% 12.33%   106.81% 141.15%
S&P 500® Index 30.00% 16.90% 13.82%   118.26% 166.58%
(See Notes to Fund Performance Overview on page 29.)
The Fund generated a NAV return of 34.31% during the 12-month period covered by this report. During the same period, the S&P 500® Index (the “Benchmark”) generated a return of 30.00%. The Fund’s largest sector exposure over the period was in the Information Technology sector, which had a 40.9% weighting. This sector had a 34.3% return and 14.8% contribution to the Fund’s return, which was the highest among all the sectors. The Financials sector was the Fund’s highest returning sector at 49.1%, but due to its smaller allocation of 0.3%, its contribution to the Fund’s return was limited to 0.1%. The Materials sector was the Fund’s worst performing sector with an 8.8% return, and a 0.3% contribution to the Fund’s return. On a relative basis, the Fund outperformed the Benchmark. The primary driver of the outperformance was due to the Fund outperforming the Benchmark among the Consumer Discretionary sector by 23.2%, which created 5.7% of relative outperformance. The lowest contribution to the Fund’s return relative to the Benchmark was from the Financials sector, which contributed -2.9% of relative underperformance, as a result of the Fund underperforming the Benchmark by -10.0%.

Nasdaq® and Dorsey Wright Focus FiveTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
Page 19

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Dorsey Wright Focus 5 ETF (FV) (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 that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 20

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust RBA American Industrial Renaissance® ETF (AIRR)
The First Trust RBA American Industrial Renaissance® ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Richard Bernstein Advisors American Industrial Renaissance® Index (the “Index”). The Fund normally invests at least 90% of its net assets (including investment borrowings) in the equity securities that comprise the Index. The Index is designed to measure the performance of small- and mid-cap U.S. companies in the industrial and community banking sectors. The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “AIRR.”
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
9/30/21
5 Years
Ended
9/30/21
Inception
(3/10/14)
to 9/30/21
  5 Years
Ended
9/30/21
Inception
(3/10/14)
to 9/30/21
Fund Performance            
NAV 59.15% 15.04% 10.21%   101.47% 108.47%
Market Price 59.30% 15.06% 10.22%   101.67% 108.67%
Index Performance            
Richard Bernstein Advisors American Industrial Renaissance® Index 60.34% 15.87% 11.05%   108.83% 120.79%
S&P 500® Index 30.00% 16.90% 13.82%   118.26% 166.02%
S&P 500® Industrials Index 28.96% 12.50% 10.49%   80.22% 112.61%
Russell 2500® Index 45.03% 14.25% 10.77%   94.70% 116.66%
(See Notes to Fund Performance Overview on page 29.)
The Fund generated a NAV return of 59.15% during the 12-month period covered by this report. During the same period, the S&P 500® Industrials Index (the “Benchmark”) generated a return of 28.96%. The Fund’s allocation during the period covered by this report was predominately within two industries: The Construction & Engineering and Machinery industries. The Construction & Engineering industry received an allocation of 34.0% and contributed 22.5% to the Fund’s return while the Machinery industry received an allocation of 28.8% and contributed 12.4% to the Fund’s return. The Electrical Equipment industry carried an allocation of only 14.1% yet had the greatest performance of any industry in the Fund and, as a result, contributed 10.5% to the Fund’s return over the 12-month period covered by this report. No industry had a negative contribution to the Fund’s return during the same period. On a relative basis, the Fund outperformed the Benchmark. The greatest source of outperformance for the Fund versus the Benchmark came from the Construction & Engineering industry. The Benchmark had only a nominal allocation to this industry, while this was the most heavily weighted industry in the Fund. The result over the period covered by this report, was 13.1% of outperformance for the Fund. The most significant source of underperformance for the Fund came from the underweight to the Industrial Conglomerates industry, which earned -1.0% of underperformance for the Fund versus the Benchmark over the period.

Richard Bernstein Advisors and Richard Bernstein Advisors American Industrial Renaissance® Index (“Index”) are trademarks and trade names of Richard Bernstein Advisors (“RBA”). The Fund is not sponsored, endorsed, sold or promoted by RBA and RBA makes no representation or warranty, express or implied, to the owners of the Fund or any member of the public regarding the advisability of trading in the Fund. RBA’s only relationship to First Trust is the licensing of certain trademarks and trade names of RBA and of the Index, which is determined, composed and calculated by RBA without regard to First Trust or the Fund. RBA has no obligation to take the needs of First Trust or the owners of the Fund into consideration in determining, composing or calculating the Index. RBA is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Fund to be listed or in the determination or calculation of the equation by which the Fund is to be converted into cash. RBA has no obligation or liability in connection with the administration, marketing or trading of the Fund.
Page 21

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust RBA American Industrial Renaissance® ETF (AIRR) (Continued)
Sector Allocation % of Total
Investments
Industrials 86.3%
Financials 10.5
Materials 3.2
Total 100.0%
Top Ten Holdings % of Total
Investments
Encore Wire Corp. 4.0%
Quanta Services, Inc. 3.7
Clean Harbors, Inc. 3.3
MYR Group, Inc. 3.2
RBC Bearings, Inc. 3.2
Covanta Holding Corp. 3.2
Wabash National Corp. 3.2
TriMas Corp. 3.2
Mueller Water Products, Inc., Class A 3.0
Evoqua Water Technologies Corp. 3.0
Total 33.0%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
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Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Dorsey Wright Momentum & Dividend ETF (DDIV)
The First Trust Dorsey Wright Momentum & Dividend ETF seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Dorsey Wright Momentum Plus Dividend Yield Index (the “Index”). Under normal conditions, the Fund invests at least 90% of its net assets (including investment borrowings) in the equity securities that comprise the Index. The Index is a rules-based equity index designed to track the overall performance of the 50 stocks with the highest dividend yield comprising the NASDAQ US Large Mid Index that still maintain high levels of “relative strength.” A relative strength analysis is a momentum-based investment strategy that emphasizes a security’s forward price momentum in the security selection process. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “DDIV.”
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
9/30/21
5 Years
Ended
9/30/21
Inception
(3/10/14)
to 9/30/21
  5 Years
Ended
9/30/21
Inception
(3/10/14)
to 9/30/21
Fund Performance            
NAV 51.29% 10.08% 8.89%   61.66% 90.40%
Market Price 51.31% 10.08% 8.89%   61.61% 90.36%
Index Performance            
Dorsey Wright Momentum Plus Dividend Yield Index(1) 52.47% N/A N/A   N/A N/A
Dow Jones U.S. Select DividendTM Index(2) 46.15% 10.27% 10.61%   63.04% 114.33%
S&P 500® Index 30.00% 16.90% 13.82%   118.26% 166.02%
(See Notes to Fund Performance Overview on page 29.)
The Fund generated a NAV return of 51.29% during the 12-month period covered by this report. During the same period, the S&P 500® Index (the “Benchmark”) generated a return of 30.00%. During the period covered by this report, the Fund allocated the greatest weight, by a wide margin, to investments in the Financials sector. This sector’s allocation was 42.0%, while the second greatest allocation was 20.3% to the Real Estate sector. The Financials sector was, unsurprisingly, the most significant contributor to the Fund’s return, with a 25.3% contribution to return. No sector had a negative contribution to the Fund’s return during the 12-month period covered by this report. On a relative basis, the Fund outperformed the Benchmark. The allocation to the Financials sector caused the greatest source of outperformance of any sector to the Fund and contributed 12.2% of outperformance for the Fund versus the Benchmark during the same period. The Industrials sector was the only sector that caused underperformance for the Fund, and its contribution to the Fund’s underperformance was not significant. Investments in the Industrials sector created less than -0.1% of underperformance to the Fund during the period.

(1) On September 6, 2018, the Fund’s underlying index changed from the Richard Bernstein Advisors Quality Income Index to the Dorsey Wright Momentum Plus Dividend Yield Index (the “Index”). Therefore, the Fund’s performance and historical returns shown for the periods prior to September 6, 2018, are not necessarily indicative of the performance that the Fund, based on its current index, would have generated. Since the Index had an inception date of July 2, 2018, it was not in existence for all of the periods disclosed.
(2) The Dow Jones U.S. Select DividendTM Index represents 100 of the United States’ leading stocks by dividend yield.
Nasdaq® and Dorsey Wright Momentum Plus Dividend Yield Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
Page 23

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Dorsey Wright Momentum & Dividend ETF (DDIV) (Continued)
Sector Allocation % of Total
Investments
Financials 46.0%
Real Estate 23.3
Energy 6.3
Information Technology 5.9
Consumer Discretionary 5.4
Materials 5.2
Industrials 3.6
Communication Services 2.8
Consumer Staples 1.5
Total 100.0%
Top Ten Holdings % of Total
Investments
Starwood Property Trust, Inc. 4.8%
Prudential Financial, Inc. 3.5
Comerica, Inc. 3.5
Simon Property Group, Inc. 3.2
OneMain Holdings, Inc. 3.1
Principal Financial Group, Inc. 3.1
Marathon Petroleum Corp. 3.1
Vornado Realty Trust 3.1
LyondellBasell Industries N.V., Class A 3.0
SL Green Realty Corp. 3.0
Total 33.4%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
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Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Dorsey Wright International Focus 5 ETF (IFV)
The First Trust Dorsey Wright International Focus 5 ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Dorsey Wright International Focus FiveTM Index (the “Index”). The Fund normally invests at least 90% of its net assets (including investment borrowings) in the exchange-traded funds (“ETFs”) that comprise the Index. The ETFs comprising the Index selection universe are advised by First Trust Advisors L.P. (“First Trust”), the Fund’s investment advisor. The Index is constructed pursuant to Dorsey, Wright & Associates, LLC’s (the “Index Provider”) proprietary methodology, which takes into account the performance of certain First Trust international ETFs relative to one another. The Index is designed to provide targeted exposure to the five First Trust country/region-based ETFs that the Index Provider believes offer the greatest potential to outperform the other ETFs in the selection universe. The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “IFV.”
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
9/30/21
5 Years
Ended
9/30/21
Inception
(7/22/14)
to 9/30/21
  5 Years
Ended
9/30/21
Inception
(7/22/14)
to 9/30/21
Fund Performance            
NAV 21.91% 7.15% 3.34%   41.24% 26.69%
Market Price 21.99% 7.22% 3.34%   41.67% 26.65%
Index Performance            
Dorsey Wright International Focus FiveTM Index 22.34% 7.69% 3.80%   44.86% 30.72%
MSCI ACWI ex USA Index 23.92% 8.94% 4.70%   53.45% 39.11%
(See Notes to Fund Performance Overview on page 29.)
The Fund generated a NAV return of 21.91% during the 12-month period covered by this report. During the same period, the MSCI ACWI ex USA Index (the “Benchmark”) generated a return of 23.92%. The Fund allocated the most to Indian securities over the period, with a 27.3% allocation. Indian securities contributed 1.3% to the Fund’s return, the best among the Fund’s country allocations. The least contributing country in the Fund was South Korea with a -0.16% contribution, stemming from its 4.3% allocation and -3.2% return. On a relative basis, the Fund underperformed the Benchmark. The Fund did not allocate any weighting to Canada, whereas the Benchmark allocated 7.1%, which created -0.4% of relative drag as a result of the Canadian securities returning 8.1% in the Benchmark. A portion of relative outperformance was due to the Fund under-allocating the Benchmark among Japanese securities by -14.7%, which created 0.7% of outperformance, as a result of the Japan’s -2.3% return in the Benchmark.

Nasdaq® and Dorsey Wright International Focus FiveTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
Page 25

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Dorsey Wright International Focus 5 ETF (IFV) (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 that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 26

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC)
The First Trust Dorsey Wright Dynamic Focus 5 ETF (the “Fund”) seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Dorsey Wright Dynamic Focus Five Index (the “Index”). The Fund normally invests at least 80% of its net assets (including investment borrowings) in the exchange-traded funds (“ETFs”) that comprise the Index, including the First Trust Enhanced Short Maturity ETF (“FTSM”), an ultra-short duration exchange-traded fund. The ETFs comprising the Index selection universe are advised by First Trust Advisors L.P. (“First Trust”), the Fund’s investment advisor. The Index is constructed pursuant to Dorsey, Wright & Associates, LLC’s (the “Index Provider”) proprietary methodology, which takes into account the performance of each of the First Trust sector and industry-based ETFs relative to one another. The Index is designed to provide targeted exposure to the five First Trust sector and industry-based ETFs that the Index Provider determines offer the greatest potential to outperform the other First Trust sector and industry-based ETFs and that satisfy certain trading volume and liquidity requirements. In addition to the First Trust sector and industry-based ETFs, the Index may select FTSM. FTSM is also evaluated and its inclusion and weight in the Index is adjusted based upon its rank relative to the selection universe of sector and industry-based ETFs chosen by the Index. The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “FVC.”
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
9/30/21
5 Years
Ended
9/30/21
Inception
(3/17/16)
to 9/30/21
  5 Years
Ended
9/30/21
Inception
(3/17/16)
to 9/30/21
Fund Performance            
NAV 34.32% 11.12% 11.27%   69.40% 80.70%
Market Price 34.28% 11.10% 11.27%   69.27% 80.65%
Index Performance            
Dorsey Wright Dynamic Focus Five Index 34.74% 11.43% 11.60%   71.78% 83.69%
S&P 500® Index 30.00% 16.90% 16.63%   118.26% 134.53%
(See Notes to Fund Performance Overview on page 29.)
The Fund generated a NAV return of 34.32% during the 12-month period covered by this report. During the same period, the S&P 500® Index (the “Benchmark”) generated a return of 30.00%. The Fund’s largest sector exposure over the period was the Information Technology sector with a 40.9% weighting. This sector had a 34.3% return and a 14.8% contribution to the Fund’s return, the highest among all the sectors. The Financials sector was the Fund’s highest returning sector at 49.1%, but due to its smaller allocation of 0.3%, its contribution to the Fund’s return was limited to 0.1%. The Materials sector was the Fund’s worst performing sector with an 8.8% return and 0.3% contribution to the Fund’s return. On a relative basis, the Fund outperformed the Benchmark. The primary driver of the outperformance was due to the Fund outperforming the Benchmark among the Consumer Discretionary sector by 23.2%, which created 5.7% of relative outperformance. The lowest contribution to the Fund’s return, relative to the Benchmark, was from the Financials sector, which contributed -2.9% of relative underperformance as a result of the Fund underperforming the Benchmark by -10.0%.

Nasdaq® and Dorsey Wright Dynamic Focus Five Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
Page 27

Table of Contents
Fund Performance Overview (Unaudited) (Continued)
First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) (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 that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 28

Table of Contents
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 SEC rules, the NBBO consists of the highest displayed buy and lowest sell prices among the various exchanges trading the Fund at the time the Fund’s NAV is calculated. Prior to January 1, 2019, the price used was the midpoint between the highest bid and the lowest offer on the stock exchange on which shares of the Fund were listed for trading as of the time that the Fund’s NAV was calculated. Since shares of each Fund did not trade in the secondary market until after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund, the NAV of each Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that all distributions have been reinvested in each Fund at NAV and Market Price, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike each Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by each Fund. These expenses negatively impact the performance of each Fund. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower. The total returns presented reflect the reinvestment of dividends on securities in the indices. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. The investment return and principal value of shares of each Fund will vary with changes in market conditions. Shares of each Fund may be worth more or less than their original cost when they are redeemed or sold in the market. Each Fund’s past performance is no guarantee of future performance.
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Table of Contents
First Trust Exchange-Traded Fund VI
Understanding Your Fund Expenses
September 30, 2021 (Unaudited)
As a shareholder of First Trust NASDAQ Technology Dividend Index Fund, Multi-Asset Diversified Income Index Fund, First Trust S&P International Dividend Aristocrats ETF, First Trust BuyWrite Income ETF, First Trust Hedged BuyWrite Income ETF, First Trust Rising Dividend Achievers ETF, First Trust Dorsey Wright Focus 5 ETF, First Trust RBA American Industrial Renaissance® ETF, First Trust Dorsey Wright Momentum & Dividend ETF, First Trust Dorsey Wright International Focus 5 ETF, or First Trust Dorsey Wright Dynamic Focus 5 ETF (each a “Fund” and collectively, the “Funds”), you incur two types of costs: (1) transaction costs; and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees, if any, and other Fund expenses. This Example is intended to help you understand your ongoing costs of investing in the Funds and to compare these costs with the ongoing costs (in U.S. dollars) of investing in other funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held through the six-month period ended September 30, 2021.
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
April 1, 2021
Ending
Account Value
September 30, 2021
Annualized
Expense Ratio
Based on the
Six-Month
Period
Expenses Paid
During the
Six-Month
Period (a)
First Trust NASDAQ Technology Dividend Index Fund (TDIV)
Actual $1,000.00 $1,055.90 0.50% $2.58
Hypothetical (5% return before expenses) $1,000.00 $1,022.56 0.50% $2.54
Multi-Asset Diversified Income Index Fund (MDIV) (b)
Actual $1,000.00 $1,035.90 0.48% $2.45
Hypothetical (5% return before expenses) $1,000.00 $1,022.66 0.48% $2.43
First Trust S&P International Dividend Aristocrats ETF (FID)
Actual $1,000.00 $1,025.30 0.60% $3.05
Hypothetical (5% return before expenses) $1,000.00 $1,022.06 0.60% $3.04
First Trust BuyWrite Income ETF (FTHI)
Actual $1,000.00 $1,038.90 0.85% $4.34
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
First Trust Hedged BuyWrite Income ETF (FTLB)
Actual $1,000.00 $1,032.70 0.85% $4.33
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
First Trust Rising Dividend Achievers ETF (RDVY)
Actual $1,000.00 $1,049.90 0.50% $2.57
Hypothetical (5% return before expenses) $1,000.00 $1,022.56 0.50% $2.54
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Table of Contents
First Trust Exchange-Traded Fund VI
Understanding Your Fund Expenses (Continued)
September 30, 2021 (Unaudited)
  Beginning
Account Value
April 1, 2021
Ending
Account Value
September 30, 2021
Annualized
Expense Ratio
Based on the
Six-Month
Period
Expenses Paid
During the
Six-Month
Period (a)
First Trust Dorsey Wright Focus 5 ETF (FV) (b)
Actual $1,000.00 $1,026.20 0.30% $1.52
Hypothetical (5% return before expenses) $1,000.00 $1,023.56 0.30% $1.52
First Trust RBA American Industrial Renaissance® ETF (AIRR)
Actual $1,000.00 $1,008.90 0.70% $3.53
Hypothetical (5% return before expenses) $1,000.00 $1,021.56 0.70% $3.55
First Trust Dorsey Wright Momentum & Dividend ETF (DDIV)
Actual $1,000.00 $1,079.00 0.60% $3.13
Hypothetical (5% return before expenses) $1,000.00 $1,022.06 0.60% $3.04
First Trust Dorsey Wright International Focus 5 ETF (IFV) (b)
Actual $1,000.00 $995.80 0.30% $1.50
Hypothetical (5% return before expenses) $1,000.00 $1,023.56 0.30% $1.52
First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) (b)
Actual $1,000.00 $1,026.00 0.30% $1.52
Hypothetical (5% return before expenses) $1,000.00 $1,023.56 0.30% $1.52
    
(a) Expenses are equal to the annualized expense ratios as indicated in the table multiplied by the average account value over the period (April 1, 2021 through September 30, 2021), multiplied by 183/365 (to reflect the six-month period).
(b) Annualized expense ratio and expenses paid during the six-month period do not include fees and expenses of the underlying funds in which the Fund invests.
Page 31

Table of Contents
First Trust NASDAQ Technology Dividend Index Fund (TDIV)
Portfolio of Investments
September 30, 2021
Shares   Description   Value
COMMON STOCKS – 99.9%
    Communications Equipment – 3.8%    
27,414   ADTRAN, Inc.   $514,287
10,160   AudioCodes Ltd.   330,606
570,703   Cisco Systems, Inc.   31,063,364
13,238   Comtech Telecommunications Corp.   339,025
184,382   Gilat Satellite Networks Ltd.   1,657,594
290,792   Juniper Networks, Inc.   8,002,596
62,219   Motorola Solutions, Inc.   14,454,718
208,187   Telefonaktiebolaget LM Ericsson, ADR   2,331,695
9,957   Ubiquiti, Inc.   2,973,857
        61,667,742
    Diversified Telecommunication
Services – 11.0%
   
1,228,406   AT&T, Inc.   33,179,246
7,666   ATN International, Inc.   359,152
646,256   BCE, Inc.   32,351,575
63,191   Cogent Communications Holdings, Inc.   4,476,451
188,092   KT Corp., ADR   2,561,813
2,738,444   Lumen Technologies, Inc.   33,929,321
173,048   Orange S.A., ADR   1,874,110
371,664   Telefonica Brasil S.A., ADR   2,884,113
53,406   Telkom Indonesia Persero Tbk PT, ADR   1,356,512
1,461,930   TELUS Corp.   32,103,983
612,417   Verizon Communications, Inc.   33,076,642
        178,152,918
    Electronic Equipment,
Instruments & Components – 4.3%
   
138,956   Amphenol Corp., Class A   10,175,748
66,448   Avnet, Inc.   2,456,583
26,990   Benchmark Electronics, Inc.   720,903
34,423   CDW Corp.   6,265,674
624,543   Corning, Inc.   22,789,574
24,010   Jabil, Inc.   1,401,464
12,245   Methode Electronics, Inc.   514,902
107,143   National Instruments Corp.   4,203,220
134,647   TE Connectivity Ltd.   18,476,261
72,964   Vishay Intertechnology, Inc.   1,465,847
        68,470,176
    Health Care Technology – 0.0%    
3,467   Simulations Plus, Inc.   136,947
    Interactive Media & Services – 0.3%    
42,632   Autohome, Inc., ADR   2,000,720
53,040   JOYY, Inc., ADR   2,908,183
        4,908,903
Shares   Description   Value
    Internet & Direct Marketing
Retail – 0.1%
   
7,676   Shutterstock, Inc.   $869,844
    IT Services – 10.2%    
71,836   Amdocs Ltd.   5,438,704
201,424   Cognizant Technology Solutions Corp., Class A   14,947,675
20,941   CSG Systems International, Inc.   1,009,356
18,856   Hackett Group (The), Inc.   369,955
357,792   Infosys Ltd., ADR   7,960,872
960,036   International Business Machines Corp.   133,377,801
35,183   Switch, Inc., Class A   893,296
        163,997,659
    Media – 2.0%    
932   Cable One, Inc.   1,689,837
555,090   Comcast Corp., Class A   31,046,184
        32,736,021
    Professional Services – 0.7%    
48,268   KBR, Inc.   1,901,759
62,378   Leidos Holdings, Inc.   5,996,397
32,372   Science Applications International Corp.   2,769,749
        10,667,905
    Semiconductors &
Semiconductor Equipment – 37.2%
   
274,667   Analog Devices, Inc.   46,001,229
191,160   Applied Materials, Inc.   24,608,027
270,974   Broadcom, Inc.   131,403,422
12,608   CMC Materials, Inc.   1,553,684
77,443   Himax Technologies, Inc., ADR   826,317
2,492,258   Intel Corp.   132,787,506
51,413   KLA Corp.   17,198,163
15,155   Kulicke & Soffa Industries, Inc.   883,233
38,795   Lam Research Corp.   22,080,174
85,222   Microchip Technology, Inc.   13,080,725
73,455   NXP Semiconductors N.V.   14,387,631
459,239   QUALCOMM, Inc.   59,232,646
20,774   Silicon Motion Technology Corp., ADR   1,432,991
57,228   Skyworks Solutions, Inc.   9,430,030
502,273   Taiwan Semiconductor Manufacturing Co., Ltd., ADR   56,078,780
352,867   Texas Instruments, Inc.   67,824,566
115,861   United Microelectronics Corp., ADR   1,324,291
        600,133,415
    Software – 14.2%    
32,205   Absolute Software Corp.   353,933
17,322   American Software, Inc., Class A   411,398
55,398   CDK Global, Inc.   2,357,185
 
Page 32
See Notes to Financial Statements

Table of Contents
First Trust NASDAQ Technology Dividend Index Fund (TDIV)
Portfolio of Investments (Continued)
September 30, 2021
Shares   Description   Value
COMMON STOCKS (Continued)
    Software (Continued)    
55,279   Citrix Systems, Inc.   $5,935,306
18,430   Dolby Laboratories, Inc., Class A   1,621,840
10,253   Ebix, Inc.   276,113
19,314   InterDigital, Inc.   1,309,876
64,104   McAfee Corp., Class A   1,417,339
446,308   Microsoft Corp.   125,823,151
347,833   NortonLifeLock, Inc.   8,800,175
122,414   Open Text Corp.   5,966,458
755,815   Oracle Corp.   65,854,161
20,612   Progress Software Corp.   1,013,904
25,492   SAP SE, ADR   3,442,440
22,533   Sapiens International Corp., N.V.   648,500
64,346   SS&C Technologies Holdings, Inc.   4,465,612
        229,697,391
    Technology Hardware,
Storage & Peripherals – 13.1%
   
887,384   Apple, Inc.   125,564,836
1,288,850   Hewlett Packard Enterprise Co.   18,366,112
972,717   HP, Inc.   26,613,537
45,734   Logitech International S.A.   4,031,452
155,339   NetApp, Inc.   13,943,229
218,140   Seagate Technology Holdings PLC   18,000,913
252,045   Xerox Holdings Corp.   5,083,748
        211,603,827
    Wireless Telecommunication
Services – 3.0%
   
185,078   America Movil SAB de CV, ADR, Class L   3,270,328
971,804   Mobile TeleSystems PJSC, ADR   9,368,191
394,972   Rogers Communications, Inc., Class B   18,421,494
18,450   Shenandoah Telecommunications Co.   582,651
76,170   SK Telecom Co., Ltd., ADR   2,292,717
118,196   Telephone & Data Systems, Inc.   2,304,822
783,290   Vodafone Group PLC, ADR   12,101,830
        48,342,033
    Total Investments – 99.9%   1,611,384,781
    (Cost $1,281,392,741) (a)    
    Net Other Assets and Liabilities – 0.1%   2,382,348
    Net Assets – 100.0%   $1,613,767,129
    
 
 

(a) Aggregate cost for federal income tax purposes was $1,301,860,919. As of September 30, 2021, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $345,318,372 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $35,794,510. The net unrealized appreciation was $309,523,862.
    
ADR American Depositary Receipt

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2021 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
  Total
Value at
9/30/2021
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks* $1,611,384,781 $1,611,384,781 $ $
    
* See Portfolio of Investments for industry breakout.
 
See Notes to Financial Statements
Page 33

Table of Contents
Multi-Asset Diversified Income Index Fund (MDIV)
Portfolio of Investments
September 30, 2021
Shares/
Units
  Description   Value
MASTER LIMITED PARTNERSHIPS – 20.8%
    Energy Equipment & Services – 1.4%    
390,341  
USA Compression Partners, L.P.

  $6,467,950
    Industrial Conglomerates – 1.1%    
107,765  
Icahn Enterprises, L.P.

  5,382,862
    Oil, Gas & Consumable Fuels – 18.3%    
262,620  
Black Stone Minerals, L.P.

  3,164,571
65,071  
Cheniere Energy Partners, L.P.

  2,646,438
140,194  
Crestwood Equity Partners, L.P.

  3,978,706
234,306  
CrossAmerica Partners, L.P.

  4,660,346
86,496  
Delek Logistics Partners, L.P.

  3,912,214
211,475  
Dorchester Minerals, L.P.

  4,053,976
439,559  
Enable Midstream Partners, L.P.

  3,569,219
357,803  
Energy Transfer, L.P.

  3,427,753
153,735  
Enterprise Products Partners, L.P.

  3,326,825
45,784  
Enviva Partners, L.P.

  2,476,457
165,072  
Global Partners, L.P.

  3,496,225
157,222  
Holly Energy Partners, L.P.

  2,881,879
271,589  
KNOT Offshore Partners, L.P.

  5,103,157
77,119  
Magellan Midstream Partners, L.P.

  3,515,084
148,275  
MPLX, L.P.

  4,221,389
255,841  
NuStar Energy, L.P.

  4,026,937
312,398  
PBF Logistics, L.P.

  3,942,463
115,321  
Phillips 66 Partners, L.P.

  4,134,258
331,726  
Plains All American Pipeline, L.P.

  3,373,653
469,721  
Shell Midstream Partners, L.P.

  5,528,616
219,928  
Sprague Resources, L.P.

  4,092,860
101,577  
Sunoco, L.P.

  3,790,854
168,240  
Teekay LNG Partners, L.P.

  2,616,132
        85,940,012
   
Total Master Limited Partnerships

  97,790,824
    (Cost $83,545,561)    
REAL ESTATE INVESTMENT TRUSTS – 19.3%
    Diversified REITs – 0.5%    
13,492  
PS Business Parks, Inc.

  2,114,736
    Health Care REITs – 2.4%    
97,699  
Healthcare Realty Trust, Inc.

  2,909,476
198,243  
Medical Properties Trust, Inc.

  3,978,737
80,015  
National Health Investors, Inc.

  4,280,803
        11,169,016
    Industrial REITs – 1.0%    
26,319  
First Industrial Realty Trust, Inc.

  1,370,694
137,832  
Industrial Logistics Properties Trust

  3,502,311
        4,873,005
    Mortgage REITs – 7.2%    
431,822  
AGNC Investment Corp.

  6,809,833
875,393  
Annaly Capital Management, Inc.

  7,370,809
423,362  
Chimera Investment Corp.

  6,286,926
293,715  
KKR Real Estate Finance Trust, Inc.

  6,197,386
367,044  
PennyMac Mortgage Investment Trust

  7,227,096
        33,892,050
Page 34
See Notes to Financial Statements

Table of Contents
Multi-Asset Diversified Income Index Fund (MDIV)
Portfolio of Investments (Continued)
September 30, 2021
Shares/
Units
  Description   Value
REAL ESTATE INVESTMENT TRUSTS (Continued)
    Office REITs – 0.8%    
8,145  
Alexandria Real Estate Equities, Inc.

  $1,556,265
34,136  
Kilroy Realty Corp.

  2,260,145
        3,816,410
    Retail REITs – 2.4%    
18,815  
Alexander’s, Inc.

  4,903,565
119,631  
Getty Realty Corp.

  3,506,385
69,723  
National Retail Properties, Inc.

  3,011,336
        11,421,286
    Specialized REITs – 5.0%    
39,441  
CubeSmart

  1,910,916
9,062  
Extra Space Storage, Inc.

  1,522,325
118,832  
Four Corners Property Trust, Inc.

  3,191,828
83,811  
Gaming and Leisure Properties, Inc.

  3,882,126
91,902  
Iron Mountain, Inc.

  3,993,142
15,591  
Life Storage, Inc.

  1,788,911
46,889  
PotlatchDeltic Corp.

  2,418,535
6,140  
Public Storage

  1,824,194
106,276  
VICI Properties, Inc.

  3,019,301
        23,551,278
   
Total Real Estate Investment Trusts

  90,837,781
    (Cost $86,055,666)    
COMMON STOCKS – 19.2%
    Biotechnology – 0.9%    
18,624  
AbbVie, Inc.

  2,008,971
28,807  
Gilead Sciences, Inc.

  2,012,169
        4,021,140
    Containers & Packaging – 0.4%    
30,419  
International Paper Co.

  1,701,031
    Diversified Telecommunication Services – 0.5%    
42,135  
Verizon Communications, Inc.

  2,275,711
    Electric Utilities – 4.7%    
27,104  
ALLETE, Inc.

  1,613,230
19,054  
American Electric Power Co., Inc.

  1,546,804
31,809  
Avangrid, Inc.

  1,545,917
18,070  
Duke Energy Corp.

  1,763,451
42,886  
Edison International

  2,378,886
17,100  
Entergy Corp.

  1,698,201
24,342  
Evergy, Inc.

  1,514,072
34,347  
Exelon Corp.

  1,660,334
36,521  
Hawaiian Electric Industries, Inc.

  1,491,153
28,090  
Otter Tail Corp.

  1,572,197
26,613  
Pinnacle West Capital Corp.

  1,925,717
33,893  
Portland General Electric Co.

  1,592,632
31,651  
Southern (The) Co.

  1,961,413
        22,264,007
    Food Products – 2.3%    
41,214  
Campbell Soup Co.

  1,723,157
48,173  
Conagra Brands, Inc.

  1,631,620
See Notes to Financial Statements
Page 35

Table of Contents
Multi-Asset Diversified Income Index Fund (MDIV)
Portfolio of Investments (Continued)
September 30, 2021
Shares/
Units
  Description   Value
COMMON STOCKS (Continued)
    Food Products (Continued)    
73,379  
Flowers Foods, Inc.

  $1,733,946
30,876  
General Mills, Inc.

  1,847,002
29,481  
Kellogg Co.

  1,884,426
59,516  
Kraft Heinz (The) Co.

  2,191,379
        11,011,530
    Gas Utilities – 1.4%    
34,598  
National Fuel Gas Co.

  1,817,087
21,771  
ONE Gas, Inc.

  1,379,628
24,144  
Southwest Gas Holdings, Inc.

  1,614,751
27,996  
Spire, Inc.

  1,712,795