| Investment Objective: |
The First Trust Flexible Income ETF (the "Fund") seeks to maximize current income. Under normal circumstances, the Fund will seek to achieve its investment objective by investing in a portfolio of fixed income securities and instruments that generate income, including but not limited to corporate debt securities; bank loans; agency and non-agency residential and commercial mortgage-backed securities; asset-backed securities; collateralized loan obligations ("CLOs"); and preferred securities. Under normal market conditions, the Fund's average portfolio duration will vary from between 0 to 8 years, although the Fund generally targets an average portfolio duration of 2 to 5 years. The Fund may invest in securities of any maturity, and there is no limit on the weighted average maturity of the Fund's portfolio. The Fund's investment advisor seeks to maximize the Fund's current income while pursuing attractive long-term total return by investing in a broad, diversified portfolio of fixed income securities and instruments that generate income, spanning the credit spectrum across various sectors, maturities, currencies, and geographies. |
