First Trust Advisors L.P. (“FTA”) announces the declaration of
distributions for 3 exchange-traded fund(s) (each a “Fund,”
collectively, the “Funds”) advised by FTA.
The following dates apply to today's distribution
declarations:
Expected Ex-Dividend Date:
December 15, 2023
Record Date:
December 18, 2023
Payable Date:
December 29, 2023
Ticker
Exchange
Fund Name
Frequency
Ordinary
Income Per Share Amount
ACTIVELY MANAGED EXCHANGE-TRADED
FUNDS
First Trust Exchange-Traded Fund
V
FMF
NYSE Arca
First Trust Managed Futures Strategy
Fund
Quarterly
$0.4144
First Trust Exchange-Traded Fund
VII
FAAR
Nasdaq
First Trust Alternative Absolute Return
Strategy ETF
Quarterly
$0.2566
FTGC
Nasdaq
First Trust Global Tactical Commodity
Strategy Fund
Quarterly
$0.2115
FTA is a federally registered investment advisor and serves as
the Fund's investment advisor. FTA and its affiliate First Trust
Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are
privately-held companies that provide a variety of investment
services. FTA has collective assets under management or supervision
of approximately $201 billion as of November 30, 2023 through unit
investment trusts, exchange-traded funds, closed-end funds, mutual
funds and separate managed accounts. FTA is the supervisor of the
First Trust unit investment trusts, while FTP is the sponsor. FTP
is also a distributor of mutual fund shares and exchange-traded
fund creation units. FTA and FTP are based in Wheaton,
Illinois.
You should consider the investment objectives, risks, charges
and expenses of a Fund before investing. Prospectuses for the Funds
contain this and other important information and are available free
of charge by calling toll-free at 1-800-621-1675 or visiting
https://www.ftportfolios.com. A prospectus should be read
carefully before investing.
Principal Risk Factors: You could lose money by investing in
a fund. An investment in a fund is not a deposit of a bank and is
not insured or guaranteed. There can be no assurance that a fund’s
objective(s) will be achieved. Investors buying or selling shares
on the secondary market may incur customary brokerage commissions.
Please refer to each fund’s prospectus and Statement of Additional
Information for additional details on a fund’s risks. The order of
the below risk factors does not indicate the significance of any
particular risk factor.
Past performance is no assurance of future results. Investment
return and market value of an investment in a fund will fluctuate.
Shares, when sold, may be worth more or less than their original
cost.
A fund’s shares will change in value, and you could lose money
by investing in a fund. An investment in a fund is not a deposit of
a bank and is not insured or guaranteed by the Federal Deposit
Insurance Corporation or any other governmental agency. There can
be no assurance that a fund’s investment objectives will be
achieved. An investment in a fund involves risks similar to those
of investing in any portfolio of equity securities traded on
exchanges. The risks of investing in each fund are spelled out in
its prospectus, shareholder report, and other regulatory
filings.
Market risk is the risk that a particular security, or shares of
a fund in general may fall in value. Securities are subject to
market fluctuations caused by such factors as general economic
conditions, political events, regulatory or market developments,
changes in interest rates and perceived trends in securities
prices. Shares of a fund could decline in value or underperform
other investments as a result. In addition, local, regional or
global events such as war, acts of terrorism, spread of infectious
disease or other public health issues, recessions, natural
disasters or other events could have significant negative impact on
a fund.
Current market conditions risk is the risk that a particular
investment, or shares of the fund in general, may fall in value due
to current market conditions. As a means to fight inflation, the
Federal Reserve and certain foreign central banks have raised
interest rates and expect to continue to do so, and the Federal
Reserve has announced that it intends to reverse previously
implemented quantitative easing. Recent and potential future bank
failures could result in disruption to the broader banking industry
or markets generally and reduce confidence in financial
institutions and the economy as a whole, which may also heighten
market volatility and reduce liquidity. Ongoing armed conflicts
between Russia and Ukraine in Europe and among Israel, Hamas and
other militant groups in the Middle East, have caused and could
continue to cause significant market disruptions and volatility
within the markets in Russia, Europe, the Middle East and the
United States. The hostilities and sanctions resulting from those
hostilities have and could continue to have a significant impact on
certain fund investments as well as fund performance and liquidity.
The COVID-19 global pandemic, or any future public health crisis,
and the ensuing policies enacted by governments and central banks
have caused and may continue to cause significant volatility and
uncertainty in global financial markets, negatively impacting
global growth prospects.
Investors buying or selling fund shares on the secondary market
may incur customary brokerage commissions. Investors who sell fund
shares may receive less than the share's net asset value. Shares
may be sold throughout the day on the exchange through any
brokerage account. However, unlike mutual funds, shares may only be
redeemed directly from a fund by authorized participants, in very
large creation/redemption units. If a fund’s authorized
participants are unable to proceed with creation/redemption orders
and no other authorized participant is able to step forward to
create or redeem, fund shares may trade at a discount to a fund’s
net asset value and possibly face delisting.
One of the principal risks of investing in a fund is market
risk. Market risk is the risk that a particular security owned by a
fund, fund shares or securities in general may fall in value.
An actively managed ETF is subject to management risk because it
is an actively managed portfolio. In managing such a fund’s
investment portfolio, the portfolio managers, management teams,
advisor or sub-advisor, will apply investment techniques and risk
analyses that may not have the desired result.
A fund that is concentrated in securities of companies in a
certain sector or industry involves additional risks, including
limited diversification. An investment in a fund concentrated in a
single country or region may be subject to greater risks of adverse
events and may experience greater volatility than a fund that is
more broadly diversified geographically.
Certain funds may invest in small-capitalization and
mid-capitalization companies. Such companies may experience greater
price volatility than larger, more established companies.
There is no guarantee that the issuers of the securities in any
fund will declare dividends in the future or that, if declared,
they will either remain at current levels or increase over
time.
An investment in a fund containing securities of non-U.S.
issuers is subject to additional risks, including currency
fluctuations, political risks, withholding, the lack of adequate
financial information, and exchange control restrictions impacting
non-U.S. issuers. These risks may be heightened for securities of
companies located in, or with significant operations in, emerging
market countries. A fund may invest in depositary receipts which
may be less liquid than the underlying shares in their primary
trading market.
Investments in sovereign bonds involve special risks because the
governmental authority that controls the repayment of the debt may
be unwilling or unable to repay the principal and/or interest when
due. In times of economic uncertainty, the prices of these
securities may be more volatile than those of corporate debt
obligations or of other government debt obligations.
A fund that invests in the European region is subject to certain
risks because member states in the European Union no longer control
their own monetary policies, money supply and official interest
rates for the Euro. Rather, such control is exercised by the
European Central Bank.
Certain securities held by certain of the funds are subject to
credit risk, call risk, income risk, inflation risk, interest rate
risk, prepayment risk, and zero coupon risk. Credit risk is the
risk that an issuer of a security will be unable or unwilling to
make dividend, interest and/or principal payments when due and that
the value of a security may decline as a result. Credit risk is
heightened for floating-rate loans and high-yield securities. Call
risk is the risk that if an issuer calls higher-yielding debt
instruments held by a fund, performance could be adversely
impacted. Income risk is the risk that income from a fund’s
fixed-income investments could decline during periods of falling
interest rates. Inflation risk is the risk that the value of assets
or income from investments will be less in the future as inflation
decreases the value of money. Interest rate risk is the risk that
the value of the fixed-income securities in a fund will decline
because of rising market interest rates. Prepayment risk is the
risk that during periods of falling interest rates, an issuer may
exercise its right to pay principal on an obligation earlier than
expected. This may result in a decline in a fund’s income. Zero
coupon risk is the risk that zero coupon bonds may be highly
volatile as interest rates rise or fall.
Convertible securities have characteristics of both equity and
debt securities and, as a result, are exposed to certain additional
risks. The values of certain synthetic convertible securities will
respond differently to market fluctuations than a traditional
convertible security because such synthetic convertibles are
composed of two or more separate securities or instruments, each
with its own market value. A fund is subject to the credit risk
associated with the counterparty creating the synthetic convertible
instrument. Synthetic convertible securities may also be subject to
the risks associated with derivatives.
Exchange-traded notes (ETNs) are senior, unsecured,
unsubordinated debt securities whose returns are linked to the
performance of a particular market benchmark or strategy minus
applicable fees. The value of an ETN may be influenced by various
factors.
The use of futures, options, and other derivatives can lead to
losses because of adverse movements in the price or value of the
underlying asset, index or rate, which may be magnified by certain
features of the derivatives. These risks are heightened when a
fund’s portfolio managers use derivatives to enhance a fund’s
return or as a substitute for a position or security, rather than
solely to hedge (or offset) the risk of a position or security held
by a fund.
A fund may effect a portion of creations and redemptions for
cash, rather than in-kind securities. As a result, an investment in
a fund may be less tax-efficient than an investment in an
exchange-traded fund that effects its creations and redemptions for
in-kind securities.
A fund’s investment in repurchase agreements may be subject to
market and credit risk with respect to the collateral securing the
repurchase agreements.
Alternative investments may employ complex strategies, have
unique investment and risk characteristics and may not be
appropriate for all investors.
Certain funds may invest in other investment companies,
including closed-end funds (CEFs), ETFs and affiliated ETFs, which
involves additional expenses that would not be present in a direct
investment in the underlying funds. In addition, a fund’s
investment performance and risks may be related to the investment
and performance of the underlying funds.
Short selling creates special risks which could result in
increased volatility of returns. In times of unusual or adverse
market, economic, regulatory or political conditions, a fund may
not be able, fully or partially, to implement its short selling
strategy.
Certain funds have fewer assets than larger, more established
funds, and like other relatively new funds, large inflows and
outflows may impact such funds' market exposure for limited periods
of time.
Each fund is subject to risks arising from various operational
factors, including, but not limited to, human error, processing and
communication errors, errors of a fund’s service providers,
counterparties or other third parties, failed or inadequate
processes and technology or systems failures. Although the funds
and the Advisor seek to reduce these operational risks through
controls and procedures, there is no way to completely protect
against such risks.
The information presented is not intended to constitute an
investment recommendation for, or advice to, any specific person.
By providing this information, First Trust is not undertaking to
give advice in any fiduciary capacity within the meaning of ERISA,
the Internal Revenue Code or any other regulatory framework.
Financial professionals are responsible for evaluating investment
risks independently and for exercising independent judgment in
determining whether investments are appropriate for their
clients.
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