UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-21774
First Trust Exchange-Traded Fund
(Exact name of registrant as specified in charter)
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
(Address of principal executive offices) (Zip code)
W. Scott Jardine, Esq.
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
(Name and address of agent for service)
Registrant's telephone number, including area code: (630) 765-8000
Date of fiscal year end: December 31
Date of reporting period: December 31, 2023
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Report to Stockholders.
(a) | The registrant's annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows: |
Annual Report
|
For the Period Ended
December 31, 2023
|
First Trust Dow Jones Select MicroCap Index Fund (FDM)
|
First Trust Morningstar Dividend Leaders Index Fund (FDL)
|
First Trust US Equity Opportunities ETF (FPX)
|
First Trust NYSE® Arca® Biotechnology Index Fund (FBT)
|
First Trust Dow Jones Internet Index Fund (FDN)
|
First Trust Capital Strength ETF (FTCS)
|
First Trust Value Line® Dividend Index Fund (FVD)
|
First Trust Growth Strength ETF (FTGS)
|
First Trust Indxx Aerospace & Defense ETF (MISL)
|
First Trust Bloomberg Inflation Sensitive Equity ETF (FTIF)
|
2
|
|
3
|
|
4
|
|
6
|
|
8
|
|
10
|
|
12
|
|
14
|
|
16
|
|
18
|
|
20
|
|
22
|
|
24
|
|
25
|
|
27
|
|
31
|
|
33
|
|
37
|
|
39
|
|
40
|
|
42
|
|
45
|
|
47
|
|
48
|
|
50
|
|
52
|
|
56
|
|
60
|
|
70
|
|
80
|
|
81
|
|
86
|
|
88
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(9/27/05)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(9/27/05)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
13.01%
|
10.40%
|
8.11%
|
7.55%
|
64.04%
|
118.07%
|
277.89%
|
Market Price
|
13.21%
|
10.46%
|
8.17%
|
7.56%
|
64.43%
|
119.30%
|
278.17%
|
Index Performance
|
|
|
|
|
|
|
|
Dow Jones Select MicroCap IndexSM
|
13.72%
|
11.26%
|
8.84%
|
8.29%
|
70.49%
|
133.18%
|
328.14%
|
Russell 2000® Index
|
16.93%
|
9.97%
|
7.16%
|
7.80%
|
60.85%
|
99.59%
|
294.14%
|
Russell 3000® Index
|
25.96%
|
15.16%
|
11.48%
|
9.79%
|
102.54%
|
196.41%
|
450.50%
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Financials
|
28.3%
|
Industrials
|
20.3
|
Energy
|
11.3
|
Consumer Discretionary
|
10.3
|
Information Technology
|
9.0
|
Materials
|
8.2
|
Health Care
|
3.8
|
Communication Services
|
3.0
|
Utilities
|
2.4
|
Real Estate
|
2.1
|
Consumer Staples
|
1.3
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Crescent Energy, Inc., Class A
|
1.7%
|
ScanSource, Inc.
|
1.6
|
ACM Research, Inc., Class A
|
1.5
|
SunCoke Energy, Inc.
|
1.4
|
VSE Corp.
|
1.4
|
Powell Industries, Inc.
|
1.3
|
Barrett Business Services, Inc.
|
1.2
|
Viad Corp.
|
1.2
|
Ambac Financial Group, Inc.
|
1.2
|
Haynes International, Inc.
|
1.2
|
Total
|
13.7%
|
|
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.
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(3/9/06)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(3/9/06)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
2.90%
|
10.24%
|
9.16%
|
7.45%
|
62.83%
|
140.34%
|
259.94%
|
Market Price
|
2.90%
|
10.25%
|
9.16%
|
7.45%
|
62.90%
|
140.33%
|
259.83%
|
Index Performance
|
|
|
|
|
|
|
|
Morningstar® Dividend Leaders IndexSM
|
3.42%
|
10.83%
|
9.72%
|
7.99%
|
67.25%
|
152.86%
|
293.58%
|
S&P 500® Index
|
26.29%
|
15.69%
|
12.03%
|
9.87%
|
107.21%
|
211.49%
|
434.64%
|
Russell 1000® Value Index
|
11.46%
|
10.91%
|
8.40%
|
7.45%
|
67.79%
|
123.99%
|
259.66%
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Financials
|
24.0%
|
Energy
|
16.9
|
Health Care
|
15.4
|
Consumer Staples
|
12.7
|
Utilities
|
9.2
|
Communication Services
|
8.3
|
Information Technology
|
4.7
|
Consumer Discretionary
|
3.4
|
Industrials
|
2.9
|
Materials
|
2.5
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Chevron Corp.
|
8.5%
|
AbbVie, Inc.
|
8.4
|
Verizon Communications, Inc.
|
8.3
|
Pfizer, Inc.
|
7.0
|
Philip Morris International, Inc.
|
6.3
|
Altria Group, Inc.
|
5.1
|
International Business Machines Corp.
|
4.7
|
Citigroup, Inc.
|
3.3
|
3M Co.
|
2.7
|
U.S. Bancorp
|
2.5
|
Total
|
56.8%
|
|
Performance figures assume reinvestment of
all distributions and do not reflect the
deduction of taxes that a shareholder would
pay on Fund distributions or the redemption
or sale of Fund shares. An index is a statistical
composite that tracks a specified financial
market or sector. Unlike the Fund, the 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.
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(4/12/06)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(4/12/06)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
22.01%
|
9.63%
|
8.45%
|
10.05%
|
58.34%
|
125.16%
|
446.19%
|
Market Price
|
22.22%
|
9.64%
|
8.45%
|
10.06%
|
58.43%
|
125.11%
|
446.33%
|
Index Performance
|
|
|
|
|
|
|
|
IPOX®-100 U.S. Index
|
22.65%
|
10.14%
|
9.00%
|
10.66%
|
62.06%
|
136.72%
|
502.34%
|
S&P 500® Index
|
26.29%
|
15.69%
|
12.03%
|
9.84%
|
107.21%
|
211.49%
|
427.34%
|
Russell 3000® Index
|
25.96%
|
15.16%
|
11.48%
|
9.62%
|
102.54%
|
196.41%
|
409.55%
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Industrials
|
30.7%
|
Information Technology
|
26.6
|
Consumer Discretionary
|
15.1
|
Health Care
|
10.1
|
Financials
|
9.2
|
Consumer Staples
|
2.4
|
Utilities
|
2.1
|
Communication Services
|
1.8
|
Energy
|
0.9
|
Real Estate
|
0.7
|
Materials
|
0.4
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Carrier Global Corp.
|
7.8%
|
Samsara, Inc., Class A
|
6.9
|
Uber Technologies, Inc.
|
6.6
|
Airbnb, Inc., Class A
|
6.4
|
Regeneron Pharmaceuticals, Inc.
|
5.8
|
Snowflake, Inc., Class A
|
3.5
|
Symbotic, Inc.
|
3.5
|
Otis Worldwide Corp.
|
3.2
|
DoorDash, Inc., Class A
|
3.0
|
Block, Inc.
|
2.4
|
Total
|
49.1%
|
|
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.
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(6/19/06)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(6/19/06)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
2.26%
|
4.92%
|
8.64%
|
12.60%
|
27.16%
|
128.96%
|
700.76%
|
Market Price
|
2.31%
|
4.92%
|
8.64%
|
12.60%
|
27.15%
|
128.96%
|
700.75%
|
Index Performance
|
|
|
|
|
|
|
|
NYSE® Arca® Biotechnology Index
|
2.86%
|
5.43%
|
9.13%
|
13.18%
|
30.25%
|
139.56%
|
776.78%
|
S&P Composite 1500® Health Care Index
|
1.92%
|
11.24%
|
11.32%
|
11.21%
|
70.33%
|
192.23%
|
544.37%
|
Nasdaq® Biotechnology Index
|
4.59%
|
8.26%
|
6.89%
|
11.27%
|
48.72%
|
94.78%
|
550.74%
|
S&P 500® Index
|
26.29%
|
15.69%
|
12.03%
|
10.16%
|
107.21%
|
211.49%
|
445.83%
|
Industry Allocation
|
% of Total
Long-Term
Investments
|
Biotechnology
|
78.8%
|
Life Sciences Tools & Services
|
21.2
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Ultragenyx Pharmaceutical, Inc.
|
4.2%
|
Grifols S.A., ADR
|
4.2
|
ACADIA Pharmaceuticals, Inc.
|
4.1
|
Charles River Laboratories International, Inc.
|
3.7
|
IQVIA Holdings, Inc.
|
3.7
|
Moderna, Inc.
|
3.6
|
Bio-Techne Corp.
|
3.5
|
Neurocrine Biosciences, Inc.
|
3.5
|
Mettler-Toledo International, Inc.
|
3.5
|
Alnylam Pharmaceuticals, Inc.
|
3.5
|
Total
|
37.5%
|
|
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.
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(6/19/06)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(6/19/06)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
51.44%
|
9.84%
|
12.04%
|
13.61%
|
59.88%
|
211.66%
|
836.53%
|
Market Price
|
51.49%
|
9.84%
|
12.04%
|
13.61%
|
59.86%
|
211.65%
|
836.63%
|
Index Performance
|
|
|
|
|
|
|
|
Dow Jones Internet Composite IndexSM
|
52.23%
|
10.45%
|
12.62%
|
14.22%
|
64.36%
|
228.26%
|
929.43%
|
S&P Composite 1500® Information
Technology Index
|
56.53%
|
26.48%
|
20.32%
|
15.81%
|
223.73%
|
536.03%
|
1,211.51%
|
S&P 500® Index
|
26.29%
|
15.69%
|
12.03%
|
10.16%
|
107.21%
|
211.49%
|
445.83%
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Information Technology
|
43.1%
|
Communication Services
|
30.5
|
Consumer Discretionary
|
20.3
|
Financials
|
3.1
|
Health Care
|
3.0
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Amazon.com, Inc.
|
9.3%
|
Meta Platforms, Inc., Class A
|
7.7
|
Alphabet, Inc., Class A
|
5.3
|
Salesforce, Inc.
|
5.1
|
Netflix, Inc.
|
4.7
|
Cisco Systems, Inc.
|
4.6
|
Alphabet, Inc., Class C
|
4.5
|
Snowflake, Inc., Class A
|
3.1
|
PayPal Holdings, Inc.
|
3.1
|
Arista Networks, Inc.
|
3.0
|
Total
|
50.4%
|
|
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.
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(7/6/06)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(7/6/06)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
8.57%
|
12.06%
|
10.57%
|
9.83%
|
76.70%
|
173.12%
|
415.65%
|
Market Price
|
8.57%
|
12.05%
|
10.55%
|
9.83%
|
76.65%
|
172.74%
|
415.71%
|
Index Performance
|
|
|
|
|
|
|
|
The Capital StrengthTM Index(1)
|
9.21%
|
12.75%
|
11.27%
|
N/A
|
82.20%
|
190.85%
|
N/A
|
S&P 500® Index
|
26.29%
|
15.69%
|
12.03%
|
10.01%
|
107.21%
|
211.49%
|
430.75%
|
(1)
|
On June 4, 2013, the Fund’s underlying index changed from the Credit Suisse U.S. Value Index, Powered by HOLTTM to The Capital StrengthTM
Index. On June 18, 2010, the Fund’s underlying index changed from the Deutsche Bank CROCI® US+ IndexTM to the Credit Suisse U.S. Value
Index, Powered by HOLTTM. Therefore, the Fund’s performance and historical returns shown for the periods prior to June 4, 2013, are not
necessarily indicative of the performance that the Fund, based on its current index, would have generated. Since the Fund’s new underlying index
had an inception date of March 20, 2013, it was not in existence for some of the periods disclosed.
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Industrials
|
23.7%
|
Health Care
|
19.2
|
Consumer Staples
|
17.7
|
Financials
|
14.5
|
Information Technology
|
12.9
|
Consumer Discretionary
|
8.6
|
Materials
|
1.8
|
Energy
|
1.6
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Gartner, Inc.
|
2.4%
|
Moody’s Corp.
|
2.3
|
Garmin Ltd.
|
2.3
|
Amphenol Corp., Class A
|
2.3
|
PACCAR, Inc.
|
2.3
|
Ameriprise Financial, Inc.
|
2.2
|
Home Depot (The), Inc.
|
2.2
|
Ross Stores, Inc.
|
2.2
|
TE Connectivity Ltd.
|
2.2
|
Costco Wholesale Corp.
|
2.2
|
Total
|
22.6%
|
|
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.
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(8/19/03)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(8/19/03)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
4.10%
|
9.29%
|
9.08%
|
9.20%
|
55.88%
|
138.40%
|
500.04%
|
Market Price
|
4.08%
|
9.28%
|
9.06%
|
9.19%
|
55.85%
|
138.12%
|
499.89%
|
Index Performance
|
|
|
|
|
|
|
|
Value Line® Dividend Index(1)
|
4.85%
|
10.16%
|
9.95%
|
N/A
|
62.26%
|
158.14%
|
N/A
|
S&P 500® Index
|
26.29%
|
15.69%
|
12.03%
|
10.11%
|
107.21%
|
211.49%
|
610.57%
|
S&P 500® Value Index
|
22.23%
|
14.11%
|
10.01%
|
9.01%
|
93.49%
|
159.66%
|
479.04%
|
Dow Jones U.S. Select Dividend IndexSM(1)
|
1.53%
|
10.05%
|
9.26%
|
N/A
|
61.40%
|
142.54%
|
N/A
|
|
On December 15, 2006, the Fund acquired the assets and adopted the financial and performance history of First Trust Value
Line® Dividend
Fund (the “Predecessor FVD Fund,” a closed-end fund), which had an inception date of August 19, 2003. The inception date total returns at net
asset value (“NAV”) include the sales load of $0.675 per share on the initial offering. The investment goals, strategies and policies of the Fund
are substantially similar to those of the Predecessor FVD Fund. The inception date of the Index was July 3, 2006. Returns
for the Index are only
disclosed for those periods in which the Index was in existence for the entire period. The cumulative total returns for the
period from the
reorganization date (December 15, 2006) through period end (December 31, 2023) were 270.97% and 272.65% at NAV and Market
Price,
respectively. That compares to an Index return of 324.18% for the same period. The average annual total returns for the period
from the
reorganization date (December 15, 2006) through period end (December 31, 2023) were 8.00% and 8.02% at NAV and Market Price,
respectively. That compares to an Index return of 8.85% for the same period.
NAV and Market Price returns assume that all distributions have been reinvested in the Fund at NAV and Market Price, respectively.
Prior to
December 15, 2006, NAV and Market Price returns assumed that all distributions were reinvested at prices obtained by the Dividend
Reinvestment Plan of the Predecessor FVD Fund and the price used to calculate Market Price return was the AMEX (now known
as the NYSE
American) closing market price of the Predecessor FVD Fund.
|
(1)
|
Performance data is not available for all the periods shown in the table for the index because performance data does not exist
for some of the
entire periods.
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Utilities
|
20.9%
|
Industrials
|
19.7
|
Consumer Staples
|
14.9
|
Financials
|
11.1
|
Health Care
|
10.6
|
Information Technology
|
8.0
|
Consumer Discretionary
|
5.6
|
Materials
|
4.9
|
Communication Services
|
1.9
|
Real Estate
|
1.8
|
Energy
|
0.6
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Novartis AG, ADR
|
0.6%
|
T-Mobile US, Inc.
|
0.6
|
Tractor Supply Co.
|
0.6
|
Toyota Motor Corp., ADR
|
0.6
|
Broadridge Financial Solutions, Inc.
|
0.6
|
Travelers (The) Cos., Inc.
|
0.6
|
Chubb Ltd.
|
0.6
|
Hershey (The) Co.
|
0.6
|
Lancaster Colony Corp.
|
0.6
|
Amgen, Inc.
|
0.6
|
Total
|
6.0%
|
|
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.
|
Performance
|
|||
|
|
Average Annual
Total Returns
|
Cumulative
Total Returns
|
|
1 Year
Ended
12/31/23
|
Inception
(10/25/22)
to 12/31/23
|
Inception
(10/25/22)
to 12/31/23
|
Fund Performance
|
|
|
|
NAV
|
33.54%
|
28.97%
|
35.14%
|
Market Price
|
33.43%
|
29.09%
|
35.29%
|
Index Performance
|
|
|
|
The Growth StrengthTM Index
|
34.47%
|
29.66%
|
35.99%
|
S&P 500® Index
|
26.29%
|
21.65%
|
26.10%
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Information Technology
|
33.7%
|
Consumer Discretionary
|
21.5
|
Health Care
|
13.1
|
Financials
|
8.1
|
Energy
|
8.0
|
Industrials
|
8.0
|
Materials
|
5.8
|
Communication Services
|
1.8
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
D.R. Horton, Inc.
|
2.6%
|
Dexcom, Inc.
|
2.5
|
Lennar Corp., Class A
|
2.5
|
Blackstone, Inc.
|
2.4
|
Deckers Outdoor Corp.
|
2.3
|
Enphase Energy, Inc.
|
2.3
|
QUALCOMM, Inc.
|
2.3
|
EPAM Systems, Inc.
|
2.3
|
Lam Research Corp.
|
2.2
|
Broadcom, Inc.
|
2.2
|
Total
|
23.6%
|
|
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.
|
Performance
|
|||
|
|
Average Annual
Total Returns
|
Cumulative
Total Returns
|
|
1 Year
Ended
12/31/23
|
Inception
(10/25/22)
to 12/31/23
|
Inception
(10/25/22)
to 12/31/23
|
Fund Performance
|
|
|
|
NAV
|
14.88%
|
19.38%
|
23.32%
|
Market Price
|
14.78%
|
19.37%
|
23.32%
|
Index Performance
|
|
|
|
Indxx US Aerospace & Defense Index
|
15.57%
|
20.03%
|
24.13%
|
S&P 500® Index
|
26.29%
|
21.65%
|
26.10%
|
S&P Composite 1500® Aerospace & Defense Index
|
8.69%
|
15.60%
|
18.72%
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Industrials
|
99.5%
|
Communication Services
|
0.5
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Boeing (The) Co.
|
10.0%
|
RTX Corp.
|
8.2
|
General Dynamics Corp.
|
7.6
|
Lockheed Martin Corp.
|
7.3
|
Northrop Grumman Corp.
|
6.8
|
Howmet Aerospace, Inc.
|
4.3
|
L3Harris Technologies, Inc.
|
4.2
|
TransDigm Group, Inc.
|
4.2
|
Leidos Holdings, Inc.
|
4.1
|
Huntington Ingalls Industries, Inc.
|
4.0
|
Total
|
60.7%
|
|
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.
|
Performance
|
|
|
Cumulative
Total Returns
|
|
Inception
(3/13/23)
to 12/31/23
|
Fund Performance
|
|
NAV
|
13.06%
|
Market Price
|
13.06%
|
Index Performance
|
|
Bloomberg Inflation Sensitive Equity Index
|
13.66%
|
S&P 500® Index
|
25.32%
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Energy
|
38.6%
|
Industrials
|
25.6
|
Materials
|
19.2
|
Real Estate
|
14.4
|
Information Technology
|
2.2
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Weatherford International PLC
|
2.8%
|
Simon Property Group, Inc.
|
2.3
|
Carlisle Cos., Inc.
|
2.3
|
Cleveland-Cliffs, Inc.
|
2.3
|
General Dynamics Corp.
|
2.3
|
Caterpillar, Inc.
|
2.2
|
Parker-Hannifin Corp.
|
2.2
|
Diamondback Energy, Inc.
|
2.2
|
PACCAR, Inc.
|
2.2
|
Amphenol Corp., Class A
|
2.2
|
Total
|
23.0%
|
|
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.
|
|
Beginning
Account Value
July 1, 2023
|
Ending
Account Value
December 31, 2023
|
Annualized
Expense Ratio
Based on the
Six-Month
Period (a)
|
Expenses Paid
During the
Six-Month
Period (b)
|
First Trust Dow Jones Select MicroCap Index Fund (FDM)
|
||||
Actual
|
$1,000.00
|
$1,102.60
|
0.60%
|
$3.18
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.18
|
0.60%
|
$3.06
|
First Trust Morningstar Dividend Leaders Index Fund (FDL)
|
||||
Actual
|
$1,000.00
|
$1,080.80
|
0.45%
|
$2.36
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.94
|
0.45%
|
$2.29
|
First Trust US Equity Opportunities ETF (FPX)
|
||||
Actual
|
$1,000.00
|
$1,087.60
|
0.58%
|
$3.05
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.28
|
0.58%
|
$2.96
|
First Trust NYSE® Arca® Biotechnology Index Fund (FBT)
|
||||
Actual
|
$1,000.00
|
$1,035.40
|
0.56%
|
$2.87
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.38
|
0.56%
|
$2.85
|
First Trust Dow Jones Internet Index Fund (FDN)
|
||||
Actual
|
$1,000.00
|
$1,144.10
|
0.50%
|
$2.70
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.68
|
0.50%
|
$2.55
|
First Trust Capital Strength ETF (FTCS)
|
||||
Actual
|
$1,000.00
|
$1,074.40
|
0.54%
|
$2.82
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.48
|
0.54%
|
$2.75
|
|
Beginning
Account Value
July 1, 2023
|
Ending
Account Value
December 31, 2023
|
Annualized
Expense Ratio
Based on the
Six-Month
Period (a)
|
Expenses Paid
During the
Six-Month
Period (b)
|
First Trust Value Line® Dividend Index Fund (FVD)
|
||||
Actual
|
$1,000.00
|
$1,024.00
|
0.56%
|
$2.86
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.38
|
0.56%
|
$2.85
|
First Trust Growth Strength ETF (FTGS)
|
||||
Actual
|
$1,000.00
|
$1,162.40
|
0.60%
|
$3.27
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.18
|
0.60%
|
$3.06
|
First Trust Indxx Aerospace & Defense ETF (MISL)
|
||||
Actual
|
$1,000.00
|
$1,099.50
|
0.60%
|
$3.18
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.18
|
0.60%
|
$3.06
|
First Trust Bloomberg Inflation Sensitive Equity ETF (FTIF)
|
||||
Actual
|
$1,000.00
|
$1,081.60
|
0.60%
|
$3.15
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.18
|
0.60%
|
$3.06
|
(a)
|
These expense ratios reflect expense caps for certain Funds. See Note 3 in the Notes to Financial Statements.
|
(b)
|
Expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value over
the period (July 1, 2023
through December 31, 2023), multiplied by 184/365 (to reflect the six-month period).
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.9%
|
|||||
|
Aerospace & Defense — 1.8%
|
|
|||
37,303
|
Ducommun, Inc. (a)
|
$1,941,994
|
|||
14,402
|
National Presto Industries, Inc.
|
1,156,193
|
|||
|
|
3,098,187
|
|||
|
Air Freight & Logistics —
0.4%
|
|
|||
98,041
|
Radiant Logistics, Inc. (a)
|
650,992
|
|||
|
Banks — 21.4%
|
|
|||
48,799
|
Amalgamated Financial Corp.
|
1,314,645
|
|||
41,649
|
Bar Harbor Bankshares
|
1,222,815
|
|||
29,835
|
BayCom Corp.
|
703,808
|
|||
64,771
|
Business First Bancshares, Inc.
|
1,596,605
|
|||
36,889
|
Capital City Bank Group, Inc.
|
1,085,643
|
|||
29,609
|
Coastal Financial Corp. (a)
|
1,314,936
|
|||
25,091
|
Codorus Valley Bancorp, Inc.
|
644,839
|
|||
117,859
|
CrossFirst Bankshares, Inc. (a)
|
1,600,525
|
|||
18,487
|
Esquire Financial Holdings, Inc.
|
923,610
|
|||
29,073
|
First Financial Corp.
|
1,251,011
|
|||
32,247
|
Five Star Bancorp
|
844,226
|
|||
19,286
|
FS Bancorp, Inc.
|
712,811
|
|||
23,986
|
Great Southern Bancorp, Inc.
|
1,423,569
|
|||
35,727
|
HBT Financial, Inc.
|
754,197
|
|||
167,902
|
Heritage Commerce Corp.
|
1,665,588
|
|||
42,992
|
HomeTrust Bancshares, Inc.
|
1,157,345
|
|||
57,269
|
Independent Bank Corp.
|
1,490,139
|
|||
177,355
|
Kearny Financial Corp.
|
1,590,874
|
|||
17,164
|
MainStreet Bancshares, Inc. (b)
|
425,839
|
|||
40,514
|
Mercantile Bank Corp.
|
1,635,955
|
|||
39,241
|
MidWestOne Financial Group,
Inc.
|
1,055,975
|
|||
32,202
|
MVB Financial Corp.
|
726,477
|
|||
18,198
|
Northeast Bank
|
1,004,348
|
|||
39,797
|
Northeast Community Bancorp,
Inc.
|
705,999
|
|||
15,183
|
Northrim BanCorp, Inc.
|
868,619
|
|||
18,232
|
Oak Valley Bancorp (b)
|
546,048
|
|||
110,548
|
Old Second Bancorp, Inc.
|
1,706,861
|
|||
11,790
|
Orange County Bancorp, Inc. (b)
|
710,230
|
|||
13,389
|
Plumas Bancorp
|
553,635
|
|||
36,361
|
Sierra Bancorp
|
819,941
|
|||
32,611
|
South Plains Financial, Inc.
|
944,415
|
|||
26,167
|
Southern Missouri Bancorp, Inc.
|
1,397,056
|
|||
22,273
|
Timberland Bancorp, Inc.
|
700,709
|
|||
81,089
|
Univest Financial Corp.
|
1,786,391
|
|||
|
|
36,885,684
|
|||
|
Biotechnology — 1.0%
|
|
|||
92,875
|
Cullinan Oncology, Inc. (a)
|
946,396
|
|||
85,839
|
Voyager Therapeutics, Inc. (a)
|
724,481
|
|||
|
|
1,670,877
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Capital Markets — 1.4%
|
|
|||
83,701
|
Bridge Investment Group
Holdings, Inc., Class A
|
$818,596
|
|||
7,909
|
Diamond Hill Investment Group,
Inc.
|
1,309,651
|
|||
84,739
|
Heritage Global, Inc. (a)
|
235,575
|
|||
|
|
2,363,822
|
|||
|
Chemicals — 1.0%
|
|
|||
73,475
|
American Vanguard Corp.
|
806,021
|
|||
20,217
|
Core Molding Technologies,
Inc. (a)
|
374,621
|
|||
25,671
|
Intrepid Potash, Inc. (a)
|
613,280
|
|||
|
|
1,793,922
|
|||
|
Commercial Services &
Supplies — 4.4%
|
|
|||
80,360
|
CECO Environmental Corp. (a)
|
1,629,701
|
|||
61,568
|
Liquidity Services, Inc. (a)
|
1,059,585
|
|||
84,032
|
Quad Graphics, Inc. (a)
|
455,454
|
|||
57,486
|
Viad Corp. (a)
|
2,080,993
|
|||
36,782
|
VSE Corp.
|
2,376,485
|
|||
|
|
7,602,218
|
|||
|
Communications Equipment
— 0.7%
|
|
|||
32,193
|
Aviat Networks, Inc. (a)
|
1,051,423
|
|||
33,451
|
Cambium Networks Corp. (a)
|
200,706
|
|||
|
|
1,252,129
|
|||
|
Construction & Engineering
— 1.2%
|
|
|||
27,213
|
Limbach Holdings, Inc. (a)
|
1,237,375
|
|||
27,519
|
Northwest Pipe Co. (a)
|
832,725
|
|||
|
|
2,070,100
|
|||
|
Consumer Finance — 1.4%
|
|
|||
12,828
|
Atlanticus Holdings Corp. (a)
|
496,059
|
|||
143,178
|
EZCORP, Inc., Class A (a)
|
1,251,376
|
|||
24,594
|
Regional Management Corp.
|
616,817
|
|||
|
|
2,364,252
|
|||
|
Containers & Packaging —
1.1%
|
|
|||
101,155
|
Myers Industries, Inc.
|
1,977,580
|
|||
|
Diversified Consumer Services
— 1.0%
|
|
|||
36,640
|
Carriage Services, Inc.
|
916,366
|
|||
78,420
|
Lincoln Educational Services
Corp. (a)
|
787,337
|
|||
|
|
1,703,703
|
|||
|
Diversified REITs — 0.5%
|
|
|||
43,418
|
One Liberty Properties, Inc.
|
951,288
|
|||
|
Diversified Telecommunication
Services — 1.1%
|
|
|||
54,447
|
IDT Corp., Class B (a)
|
1,856,098
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Electric Utilities — 1.0%
|
|
|||
59,657
|
Genie Energy Ltd., Class B
|
$1,678,151
|
|||
|
Electrical Equipment — 2.6%
|
|
|||
38,757
|
Allient, Inc.
|
1,170,849
|
|||
74,707
|
LSI Industries, Inc.
|
1,051,875
|
|||
25,098
|
Powell Industries, Inc.
|
2,218,663
|
|||
|
|
4,441,387
|
|||
|
Electronic Equipment,
Instruments & Components
— 4.7%
|
|
|||
27,461
|
Bel Fuse, Inc., Class B
|
1,833,571
|
|||
10,950
|
Climb Global Solutions, Inc.
|
600,389
|
|||
68,275
|
Kimball Electronics, Inc. (a)
|
1,840,011
|
|||
68,610
|
ScanSource, Inc. (a)
|
2,717,642
|
|||
34,378
|
Vishay Precision Group, Inc. (a)
|
1,171,258
|
|||
|
|
8,162,871
|
|||
|
Energy Equipment & Services
— 2.8%
|
|
|||
54,307
|
DMC Global, Inc. (a)
|
1,022,058
|
|||
26,330
|
Forum Energy Technologies,
Inc. (a)
|
583,736
|
|||
37,422
|
KLX Energy Services Holdings,
Inc. (a)
|
421,372
|
|||
63,238
|
Mammoth Energy Services,
Inc. (a)
|
282,041
|
|||
38,240
|
Ranger Energy Services, Inc.
|
391,195
|
|||
79,836
|
Solaris Oilfield Infrastructure,
Inc., Class A
|
635,495
|
|||
321,715
|
TETRA Technologies, Inc. (a)
|
1,454,152
|
|||
|
|
4,790,049
|
|||
|
Entertainment — 0.5%
|
|
|||
144,867
|
Vivid Seats, Inc., Class A (a)
|
915,559
|
|||
|
Financial Services — 1.9%
|
|
|||
64,347
|
NewtekOne, Inc. (b)
|
887,989
|
|||
15,190
|
Ocwen Financial Corp. (a)
|
467,244
|
|||
257,364
|
UWM Holdings Corp. (b)
|
1,840,153
|
|||
|
|
3,195,386
|
|||
|
Ground Transportation —
0.6%
|
|
|||
117,566
|
Daseke, Inc. (a)
|
952,285
|
|||
|
Health Care Equipment &
Supplies — 1.0%
|
|
|||
201,936
|
OraSure Technologies, Inc. (a)
|
1,655,875
|
|||
|
Health Care Providers &
Services — 0.6%
|
|
|||
349,618
|
Community Health Systems,
Inc. (a)
|
1,094,304
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Hotels, Restaurants & Leisure
— 4.7%
|
|
|||
25,359
|
Bluegreen Vacations Holding
Corp.
|
$1,904,968
|
|||
145,879
|
Denny’s Corp. (a)
|
1,587,163
|
|||
74,256
|
El Pollo Loco Holdings, Inc. (a)
|
654,938
|
|||
67,309
|
Inspired Entertainment, Inc. (a)
|
665,013
|
|||
7,624
|
Nathan’s Famous, Inc.
|
594,748
|
|||
67,892
|
ONE Group Hospitality (The),
Inc. (a)
|
415,499
|
|||
66,157
|
Potbelly Corp. (a)
|
689,356
|
|||
23,760
|
RCI Hospitality Holdings, Inc.
|
1,574,338
|
|||
|
|
8,086,023
|
|||
|
Household Durables — 0.5%
|
|
|||
30,120
|
Landsea Homes Corp. (a)
|
395,777
|
|||
19,439
|
Legacy Housing Corp. (a)
|
490,251
|
|||
|
|
886,028
|
|||
|
Household Products — 1.3%
|
|
|||
26,181
|
Central Garden & Pet Co. (a)
|
1,311,930
|
|||
14,040
|
Oil-Dri Corp. of America
|
941,803
|
|||
|
|
2,253,733
|
|||
|
Insurance — 1.9%
|
|
|||
124,197
|
Ambac Financial Group, Inc. (a)
|
2,046,767
|
|||
73,013
|
Greenlight Capital Re Ltd.,
Class A (a)
|
833,808
|
|||
53,644
|
Kingsway Financial Services,
Inc. (a) (b)
|
450,610
|
|||
|
|
3,331,185
|
|||
|
Interactive Media & Services
— 0.1%
|
|
|||
18,430
|
Travelzoo (a)
|
175,638
|
|||
|
IT Services — 1.1%
|
|
|||
68,114
|
Hackett Group (The), Inc.
|
1,550,956
|
|||
83,271
|
Information Services Group, Inc.
|
392,206
|
|||
|
|
1,943,162
|
|||
|
Leisure Products — 1.3%
|
|
|||
18,214
|
Johnson Outdoors, Inc., Class A
|
972,992
|
|||
33,151
|
Marine Products Corp.
|
377,922
|
|||
41,255
|
MasterCraft Boat Holdings,
Inc. (a)
|
934,013
|
|||
|
|
2,284,927
|
|||
|
Machinery — 2.7%
|
|
|||
63,161
|
Douglas Dynamics, Inc.
|
1,874,618
|
|||
28,483
|
Gencor Industries, Inc. (a)
|
459,716
|
|||
29,020
|
Mayville Engineering Co.,
Inc. (a)
|
418,468
|
|||
31,454
|
Miller Industries, Inc.
|
1,330,190
|
|||
22,659
|
Park-Ohio Holdings Corp.
|
610,887
|
|||
|
|
4,693,879
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Marine Transportation —
1.6%
|
|
|||
116,899
|
Genco Shipping & Trading Ltd.
|
$1,939,355
|
|||
94,493
|
Pangaea Logistics Solutions Ltd.
|
778,622
|
|||
|
|
2,717,977
|
|||
|
Media — 0.6%
|
|
|||
166,409
|
Entravision Communications
Corp., Class A
|
693,926
|
|||
33,084
|
Townsquare Media, Inc.,
Class A
|
349,367
|
|||
|
|
1,043,293
|
|||
|
Metals & Mining — 5.1%
|
|
|||
129,240
|
Gatos Silver, Inc. (a)
|
845,230
|
|||
34,988
|
Haynes International, Inc.
|
1,996,065
|
|||
26,923
|
Olympic Steel, Inc.
|
1,795,764
|
|||
97,722
|
Ramaco Resources, Inc.,
Class A (b)
|
1,678,864
|
|||
230,164
|
SunCoke Energy, Inc.
|
2,471,961
|
|||
|
|
8,787,884
|
|||
|
Mortgage REITs — 0.3%
|
|
|||
43,851
|
AFC Gamma, Inc.
|
527,528
|
|||
|
Oil, Gas & Consumable Fuels
— 8.5%
|
|
|||
98,845
|
Amplify Energy Corp. (a)
|
586,151
|
|||
185,062
|
Berry Corp.
|
1,300,986
|
|||
35,400
|
Centrus Energy Corp.,
Class A (a)
|
1,926,114
|
|||
226,455
|
Crescent Energy, Inc., Class A
|
2,991,470
|
|||
83,599
|
Evolution Petroleum Corp.
|
485,710
|
|||
72,157
|
FutureFuel Corp.
|
438,715
|
|||
67,396
|
Hallador Energy Co. (a)
|
595,781
|
|||
147,170
|
Overseas Shipholding Group,
Inc., Class A
|
775,586
|
|||
41,848
|
REX American Resources
Corp. (a)
|
1,979,410
|
|||
118,271
|
Ring Energy, Inc. (a)
|
172,676
|
|||
86,638
|
SandRidge Energy, Inc.
|
1,184,341
|
|||
288,980
|
VAALCO Energy, Inc.
|
1,297,520
|
|||
265,841
|
W&T Offshore, Inc.
|
866,642
|
|||
|
|
14,601,102
|
|||
|
Paper & Forest Products —
1.0%
|
|
|||
45,516
|
Clearwater Paper Corp. (a)
|
1,644,038
|
|||
|
Pharmaceuticals — 1.2%
|
|
|||
260,153
|
Assertio Holdings, Inc. (a)
|
278,364
|
|||
172,755
|
Omeros Corp. (a) (b)
|
564,909
|
|||
55,889
|
Phibro Animal Health Corp.,
Class A
|
647,194
|
|||
107,450
|
SIGA Technologies, Inc.
|
601,720
|
|||
|
|
2,092,187
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Professional Services — 2.6%
|
|
|||
18,184
|
Barrett Business Services, Inc.
|
$2,105,707
|
|||
19,242
|
CRA International, Inc.
|
1,902,072
|
|||
15,281
|
RCM Technologies, Inc. (a)
|
443,760
|
|||
|
|
4,451,539
|
|||
|
Real Estate Management &
Development — 0.6%
|
|
|||
39,470
|
RMR Group (The), Inc., Class A
|
1,114,238
|
|||
|
Retail REITs — 0.9%
|
|
|||
129,448
|
Whitestone REIT
|
1,590,916
|
|||
|
Semiconductors &
Semiconductor Equipment
— 1.7%
|
|
|||
128,312
|
ACM Research, Inc., Class A (a)
|
2,507,217
|
|||
31,414
|
inTEST Corp. (a)
|
427,230
|
|||
|
|
2,934,447
|
|||
|
Software — 0.1%
|
|
|||
17,163
|
CoreCard Corp. (a)
|
237,364
|
|||
|
Specialty Retail — 2.8%
|
|
|||
112,501
|
Arhaus, Inc. (a)
|
1,333,137
|
|||
61,699
|
Big 5 Sporting Goods Corp. (b)
|
391,172
|
|||
35,941
|
Build-A-Bear Workshop, Inc.
|
826,284
|
|||
36,654
|
Haverty Furniture Cos., Inc.
|
1,301,217
|
|||
28,407
|
OneWater Marine, Inc.,
Class A (a)
|
959,872
|
|||
|
|
4,811,682
|
|||
|
Technology Hardware, Storage
& Peripherals — 0.6%
|
|
|||
46,673
|
CompoSecure, Inc. (a) (b)
|
252,034
|
|||
188,008
|
Eastman Kodak Co. (a)
|
733,231
|
|||
|
|
985,265
|
|||
|
Trading Companies &
Distributors — 2.5%
|
|
|||
36,451
|
DXP Enterprises, Inc. (a)
|
1,228,399
|
|||
107,535
|
Hudson Technologies, Inc. (a)
|
1,450,647
|
|||
55,920
|
Titan Machinery, Inc. (a)
|
1,614,970
|
|||
|
|
4,294,016
|
|||
|
Water Utilities — 1.5%
|
|
|||
25,821
|
Artesian Resources Corp.,
Class A
|
1,070,280
|
|||
41,110
|
Consolidated Water Co., Ltd.
|
1,463,516
|
|||
|
|
2,533,796
|
|||
|
Wireless Telecommunication
Services — 0.6%
|
|
|||
54,908
|
Spok Holdings, Inc.
|
849,976
|
|||
392,573
|
Tingo Group, Inc. (a) (c)
|
270,875
|
|||
|
|
1,120,851
|
|||
|
Total Common Stocks
|
172,269,417
|
|||
|
(Cost $159,429,845)
|
|
Shares
|
Description
|
Value
|
|||
MONEY MARKET FUNDS — 3.3%
|
|||||
5,614,589
|
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.17% (d) (e)
|
$5,614,589
|
|||
|
(Cost $5,614,589)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 103.2%
|
177,884,006
|
|||
|
(Cost $165,044,434)
|
|
|||
|
Net Other Assets and
Liabilities — (3.2)%
|
(5,501,830
)
|
|||
|
Net Assets — 100.0%
|
$172,382,176
|
(a)
|
Non-income producing security.
|
(b)
|
All or a portion of this security is on loan (see Note 2D -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $5,388,319 and the total value of the collateral
held by the Fund is $5,614,589.
|
(c)
|
Pursuant to procedures adopted by the Trust’s Board of
Trustees, this security has been determined to be illiquid by
First Trust Advisors L.P., the Fund’s advisor.
|
(d)
|
Rate shown reflects yield as of December 31, 2023.
|
(e)
|
This security serves as collateral for securities on loan.
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common Stocks:
|
|
|
|
|
Wireless
Telecommunication
Services
|
$ 1,120,851
|
$ 849,976
|
$ 270,875
|
$ —
|
Other Industry
Categories*
|
171,148,566
|
171,148,566
|
—
|
—
|
Money Market
Funds
|
5,614,589
|
5,614,589
|
—
|
—
|
Total Investments
|
$177,884,006
|
$177,613,131
|
$270,875
|
$—
|
*
|
See Portfolio of Investments for industry breakout.
|
Securities Lending Agency Agreement
|
|
Total gross amount presented on the Statements
of Assets and Liabilities(1)
|
$5,388,319
|
Non-cash Collateral(2)
|
(5,388,319
)
|
Net Amount
|
$—
|
(1)
|
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
|
(2)
|
At December 31, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.7%
|
|||||
|
Automobiles — 2.0%
|
|
|||
6,622,647
|
Ford Motor Co.
|
$80,730,067
|
|||
|
Banks — 18.1%
|
|
|||
209,167
|
Associated Banc-Corp.
|
4,474,082
|
|||
108,593
|
Bank OZK
|
5,411,189
|
|||
190,826
|
Cadence Bank
|
5,646,541
|
|||
74,850
|
Cathay General Bancorp
|
3,336,065
|
|||
2,543,968
|
Citigroup, Inc.
|
130,861,714
|
|||
782,063
|
Citizens Financial Group, Inc.
|
25,917,568
|
|||
373,336
|
Columbia Banking System, Inc.
|
9,960,604
|
|||
235,773
|
Comerica, Inc.
|
13,158,491
|
|||
121,246
|
East West Bancorp, Inc.
|
8,723,650
|
|||
882,071
|
Fifth Third Bancorp
|
30,422,629
|
|||
193,852
|
First Hawaiian, Inc.
|
4,431,457
|
|||
743,260
|
First Horizon Corp.
|
10,524,562
|
|||
184,551
|
First Interstate BancSystem, Inc.,
Class A
|
5,674,943
|
|||
397,617
|
FNB Corp.
|
5,475,186
|
|||
121,145
|
Glacier Bancorp, Inc.
|
5,005,711
|
|||
2,201,245
|
Huntington Bancshares, Inc.
|
27,999,836
|
|||
46,499
|
Independent Bank Corp.
|
3,060,099
|
|||
1,777,617
|
KeyCorp
|
25,597,685
|
|||
197,946
|
M&T Bank Corp.
|
27,134,438
|
|||
1,518,773
|
New York Community Bancorp,
Inc.
|
15,537,048
|
|||
300,661
|
Old National Bancorp
|
5,078,164
|
|||
531,258
|
PNC Financial Services Group
(The), Inc.
|
82,265,301
|
|||
1,566,824
|
Regions Financial Corp.
|
30,365,049
|
|||
187,309
|
Synovus Financial Corp.
|
7,052,184
|
|||
2,519,440
|
Truist Financial Corp.
|
93,017,725
|
|||
2,293,169
|
U.S. Bancorp
|
99,248,354
|
|||
166,373
|
United Bankshares, Inc.
|
6,247,306
|
|||
124,044
|
United Community Banks, Inc.
|
3,629,527
|
|||
587,878
|
Valley National Bancorp
|
6,384,355
|
|||
169,606
|
Webster Financial Corp.
|
8,609,201
|
|||
196,050
|
Zions Bancorp N.A.
|
8,600,714
|
|||
|
|
718,851,378
|
|||
|
Biotechnology — 8.4%
|
|
|||
2,144,784
|
AbbVie, Inc.
|
332,377,176
|
|||
|
Capital Markets — 2.2%
|
|
|||
242,824
|
Carlyle Group (The), Inc.
|
9,880,509
|
|||
28,222
|
Cohen & Steers, Inc.
|
2,137,252
|
|||
414,366
|
Franklin Resources, Inc.
|
12,343,963
|
|||
233,683
|
Janus Henderson Group PLC
|
7,045,542
|
|||
230,581
|
Northern Trust Corp.
|
19,456,425
|
|||
325,703
|
T. Rowe Price Group, Inc.
|
35,074,956
|
|||
|
|
85,938,647
|
|||
|
Chemicals — 2.1%
|
|
|||
134,254
|
Eastman Chemical Co.
|
12,058,694
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Chemicals (Continued)
|
|
|||
328,154
|
International Flavors &
Fragrances, Inc.
|
$26,570,629
|
|||
420,058
|
LyondellBasell Industries N.V.,
Class A
|
39,939,115
|
|||
52,453
|
Scotts Miracle-Gro (The) Co.
|
3,343,879
|
|||
|
|
81,912,317
|
|||
|
Construction & Engineering
— 0.1%
|
|
|||
154,839
|
MDU Resources Group, Inc.
|
3,065,812
|
|||
|
Consumer Finance — 0.3%
|
|
|||
330,034
|
Ally Financial, Inc.
|
11,524,787
|
|||
|
Consumer Staples Distribution
& Retail — 1.3%
|
|
|||
1,929,571
|
Walgreens Boots Alliance, Inc.
|
50,381,099
|
|||
|
Containers & Packaging —
0.3%
|
|
|||
3,712
|
Greif, Inc., Class B
|
245,029
|
|||
78,205
|
Packaging Corp. of America
|
12,740,377
|
|||
|
|
12,985,406
|
|||
|
Diversified Telecommunication
Services — 8.3%
|
|
|||
8,724,921
|
Verizon Communications, Inc.
|
328,929,522
|
|||
|
Electric Utilities — 8.3%
|
|
|||
75,933
|
ALLETE, Inc.
|
4,644,062
|
|||
116,126
|
Avangrid, Inc.
|
3,763,644
|
|||
1,010,404
|
Duke Energy Corp.
|
98,049,604
|
|||
506,078
|
Edison International
|
36,179,516
|
|||
281,892
|
Entergy Corp.
|
28,524,651
|
|||
327,708
|
Evergy, Inc.
|
17,106,358
|
|||
677,053
|
FirstEnergy Corp.
|
24,820,763
|
|||
215,014
|
NRG Energy, Inc.
|
11,116,224
|
|||
282,369
|
OGE Energy Corp.
|
9,863,149
|
|||
157,328
|
Pinnacle West Capital Corp.
|
11,302,444
|
|||
1,219,900
|
Southern (The) Co.
|
85,539,388
|
|||
|
|
330,909,803
|
|||
|
Financial Services — 0.3%
|
|
|||
869,368
|
Western Union (The) Co.
|
10,362,867
|
|||
|
Gas Utilities — 0.5%
|
|
|||
64,621
|
Southwest Gas Holdings, Inc.
|
4,093,740
|
|||
71,929
|
Spire, Inc.
|
4,484,054
|
|||
417,438
|
UGI Corp.
|
10,268,975
|
|||
|
|
18,846,769
|
|||
|
Household Durables — 0.4%
|
|
|||
84,540
|
MDC Holdings, Inc.
|
4,670,835
|
|||
105,383
|
Whirlpool Corp.
|
12,832,488
|
|||
|
|
17,503,323
|
|||
|
Industrial Conglomerates —
2.7%
|
|
|||
968,408
|
3M Co.
|
105,866,363
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Insurance — 3.1%
|
|
|||
300,216
|
Fidelity National Financial, Inc.
|
$15,317,020
|
|||
378,757
|
Lincoln National Corp.
|
10,215,076
|
|||
610,642
|
MetLife, Inc.
|
40,381,756
|
|||
553,085
|
Prudential Financial, Inc.
|
57,360,445
|
|||
|
|
123,274,297
|
|||
|
IT Services — 4.7%
|
|
|||
1,136,279
|
International Business Machines
Corp.
|
185,838,430
|
|||
|
Leisure Products — 0.3%
|
|
|||
230,516
|
Hasbro, Inc.
|
11,770,147
|
|||
|
Metals & Mining — 0.0%
|
|
|||
13,780
|
Arch Resources, Inc.
|
2,286,653
|
|||
|
Multi-Utilities — 0.3%
|
|
|||
121,043
|
Avista Corp.
|
4,326,077
|
|||
94,718
|
Black Hills Corp.
|
5,110,036
|
|||
85,312
|
Northwestern Energy Group,
Inc.
|
4,341,528
|
|||
|
|
13,777,641
|
|||
|
Oil, Gas & Consumable Fuels
— 16.8%
|
|
|||
2,258,228
|
Chevron Corp.
|
336,837,288
|
|||
67,467
|
CVR Energy, Inc.
|
2,044,250
|
|||
870,409
|
Devon Energy Corp.
|
39,429,528
|
|||
138,254
|
HF Sinclair Corp.
|
7,682,775
|
|||
975,156
|
ONEOK, Inc.
|
68,475,454
|
|||
443,149
|
Phillips 66
|
59,000,858
|
|||
403,543
|
Pioneer Natural Resources Co.
|
90,748,750
|
|||
1,822,105
|
Williams (The) Cos., Inc.
|
63,463,917
|
|||
|
|
667,682,820
|
|||
|
Pharmaceuticals — 7.0%
|
|
|||
9,661,448
|
Pfizer, Inc.
|
278,153,088
|
|||
|
Professional Services — 0.1%
|
|
|||
57,015
|
ManpowerGroup, Inc.
|
4,530,982
|
|||
|
Specialty Retail — 0.6%
|
|
|||
31,238
|
Advance Auto Parts, Inc.
|
1,906,455
|
|||
273,600
|
Best Buy Co., Inc.
|
21,417,408
|
|||
|
|
23,323,863
|
|||
|
Textiles, Apparel & Luxury
Goods — 0.1%
|
|
|||
44,963
|
Carter’s, Inc.
|
3,367,279
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Tobacco — 11.4%
|
|
|||
5,035,174
|
Altria Group, Inc.
|
$203,118,919
|
|||
2,659,031
|
Philip Morris International, Inc.
|
250,161,637
|
|||
|
|
453,280,556
|
|||
|
|||||
|
|||||
|
Total Investments — 99.7%
|
3,957,471,092
|
|||
|
(Cost $3,982,375,224)
|
|
|||
|
Net Other Assets and
Liabilities — 0.3%
|
13,326,914
|
|||
|
Net Assets — 100.0%
|
$3,970,798,006
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common
Stocks*
|
$ 3,957,471,092
|
$ 3,957,471,092
|
$ —
|
$ —
|
*
|
See Portfolio of Investments for industry breakout.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.9%
|
|||||
|
Aerospace & Defense — 0.9%
|
|
|||
339,949
|
Leonardo DRS, Inc. (a)
|
$6,812,578
|
|||
|
Air Freight & Logistics —
0.2%
|
|
|||
30,825
|
GXO Logistics, Inc. (a)
|
1,885,257
|
|||
|
Automobile Components —
0.6%
|
|
|||
104,451
|
Mobileye Global, Inc.,
Class A (a)
|
4,524,817
|
|||
|
Automobiles — 0.8%
|
|
|||
248,180
|
Rivian Automotive, Inc.,
Class A (a)
|
5,822,303
|
|||
|
Beverages — 0.1%
|
|
|||
29,415
|
Vita Coco (The) Co., Inc. (a)
|
754,495
|
|||
|
Biotechnology — 8.1%
|
|
|||
15,354
|
Apellis Pharmaceuticals, Inc. (a)
|
919,090
|
|||
25,233
|
Arcellx, Inc. (a)
|
1,400,432
|
|||
45,081
|
Bridgebio Pharma, Inc. (a)
|
1,819,920
|
|||
37,488
|
Immunovant, Inc. (a)
|
1,579,369
|
|||
9,776
|
Karuna Therapeutics, Inc. (a)
|
3,094,202
|
|||
23,554
|
Legend Biotech Corp., ADR (a)
|
1,417,244
|
|||
16,230
|
Nuvalent, Inc., Class A (a)
|
1,194,366
|
|||
49,406
|
Regeneron Pharmaceuticals,
Inc. (a)
|
43,392,796
|
|||
104,163
|
Roivant Sciences Ltd. (a)
|
1,169,750
|
|||
73,974
|
Vaxcyte, Inc. (a)
|
4,645,567
|
|||
|
|
60,632,736
|
|||
|
Building Products — 9.7%
|
|
|||
114,823
|
AZEK (The) Co., Inc. (a)
|
4,391,980
|
|||
31,964
|
Builders FirstSource, Inc. (a)
|
5,336,070
|
|||
1,011,040
|
Carrier Global Corp.
|
58,084,248
|
|||
166,132
|
Hayward Holdings, Inc. (a)
|
2,259,395
|
|||
164,244
|
Masterbrand, Inc. (a)
|
2,439,024
|
|||
|
|
72,510,717
|
|||
|
Capital Markets — 2.9%
|
|
|||
19,245
|
AssetMark Financial Holdings,
Inc. (a)
|
576,388
|
|||
202,297
|
Blue Owl Capital Corp.
|
2,985,904
|
|||
30,998
|
Coinbase Global, Inc.,
Class A (a)
|
5,391,172
|
|||
224,096
|
Robinhood Markets, Inc.,
Class A (a)
|
2,854,983
|
|||
234,684
|
TPG, Inc.
|
10,131,308
|
|||
|
|
21,939,755
|
|||
|
Commercial Services &
Supplies — 1.1%
|
|
|||
41,835
|
ACV Auctions, Inc., Class A (a)
|
633,800
|
|||
63,828
|
Veralto Corp.
|
5,250,491
|
|||
101,628
|
Vestis Corp.
|
2,148,416
|
|||
|
|
8,032,707
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Construction Materials —
0.4%
|
|
|||
43,975
|
Knife River Corp. (a)
|
$2,910,265
|
|||
|
Diversified Consumer Services
— 2.2%
|
|
|||
39,531
|
Coursera, Inc. (a)
|
765,715
|
|||
70,767
|
Duolingo, Inc. (a)
|
16,053,494
|
|||
|
|
16,819,209
|
|||
|
Electric Utilities — 2.1%
|
|
|||
132,422
|
Constellation Energy Corp.
|
15,478,808
|
|||
|
Electrical Equipment — 2.1%
|
|
|||
9,670
|
Atkore, Inc. (a)
|
1,547,200
|
|||
46,099
|
Fluence Energy, Inc. (a)
|
1,099,461
|
|||
74,961
|
NEXTracker, Inc., Class A (a)
|
3,511,923
|
|||
197,691
|
Vertiv Holdings Co., Class A
|
9,495,099
|
|||
|
|
15,653,683
|
|||
|
Electronic Equipment,
Instruments & Components
— 1.4%
|
|
|||
25,326
|
Insight Enterprises, Inc. (a)
|
4,487,514
|
|||
171,966
|
Vontier Corp.
|
5,941,425
|
|||
|
|
10,428,939
|
|||
|
Entertainment — 1.8%
|
|
|||
98,903
|
Endeavor Group Holdings, Inc.,
Class A
|
2,346,968
|
|||
80,817
|
ROBLOX Corp., Class A (a)
|
3,694,953
|
|||
631,922
|
Warner Bros. Discovery, Inc. (a)
|
7,191,273
|
|||
|
|
13,233,194
|
|||
|
Financial Services — 5.0%
|
|
|||
58,643
|
Affirm Holdings, Inc. (a)
|
2,881,717
|
|||
230,745
|
Block, Inc. (a)
|
17,848,126
|
|||
163,522
|
Corebridge Financial, Inc.
|
3,541,886
|
|||
82,770
|
Enact Holdings, Inc.
|
2,391,225
|
|||
20,601
|
Jackson Financial, Inc., Class A
|
1,054,771
|
|||
513,681
|
Rocket Cos., Inc., Class A (a) (b)
|
7,438,101
|
|||
32,043
|
Shift4 Payments, Inc.,
Class A (a)
|
2,382,077
|
|||
|
|
37,537,903
|
|||
|
Ground Transportation —
6.7%
|
|
|||
30,320
|
RXO, Inc. (a)
|
705,243
|
|||
799,900
|
Uber Technologies, Inc. (a)
|
49,249,843
|
|||
|
|
49,955,086
|
|||
|
Health Care Equipment &
Supplies — 1.4%
|
|
|||
117,970
|
GE HealthCare Technologies,
Inc.
|
9,121,440
|
|||
12,646
|
Glaukos Corp. (a)
|
1,005,231
|
|||
|
|
10,126,671
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Health Care Providers &
Services — 0.6%
|
|
|||
66,702
|
HealthEquity, Inc. (a)
|
$4,422,343
|
|||
|
Hotels, Restaurants & Leisure
— 11.4%
|
|
|||
352,872
|
Airbnb, Inc., Class A (a)
|
48,039,994
|
|||
227,019
|
DoorDash, Inc., Class A (a)
|
22,449,909
|
|||
423,063
|
DraftKings, Inc., Class A (a)
|
14,912,971
|
|||
|
|
85,402,874
|
|||
|
Insurance — 1.3%
|
|
|||
97,563
|
F&G Annuities & Life, Inc.
|
4,487,898
|
|||
70,526
|
Fidelity National Financial, Inc.
|
3,598,237
|
|||
33,720
|
Ryan Specialty Holdings, Inc. (a)
|
1,450,634
|
|||
|
|
9,536,769
|
|||
|
IT Services — 4.6%
|
|
|||
52,206
|
Cloudflare, Inc., Class A (a)
|
4,346,672
|
|||
118,925
|
Kyndryl Holdings, Inc. (a)
|
2,471,261
|
|||
132,267
|
Snowflake, Inc., Class A (a)
|
26,321,133
|
|||
35,234
|
Squarespace, Inc., Class A (a)
|
1,163,074
|
|||
|
|
34,302,140
|
|||
|
Machinery — 8.2%
|
|
|||
44,169
|
Crane Co.
|
5,218,126
|
|||
78,092
|
Esab Corp.
|
6,764,329
|
|||
265,135
|
Otis Worldwide Corp.
|
23,721,628
|
|||
504,800
|
Symbotic, Inc. (a) (b)
|
25,911,384
|
|||
|
|
61,615,467
|
|||
|
Oil, Gas & Consumable Fuels
— 0.9%
|
|
|||
24,300
|
Civitas Resources, Inc.
|
1,661,634
|
|||
8,035
|
CONSOL Energy, Inc.
|
807,759
|
|||
25,129
|
DT Midstream, Inc.
|
1,377,069
|
|||
200,512
|
Permian Resources Corp.
|
2,726,963
|
|||
|
|
6,573,425
|
|||
|
Personal Care Products —
2.3%
|
|
|||
118,891
|
BellRing Brands, Inc. (a)
|
6,590,128
|
|||
496,246
|
Kenvue, Inc.
|
10,684,177
|
|||
|
|
17,274,305
|
|||
|
Pharmaceuticals — 0.1%
|
|
|||
11,813
|
Structure Therapeutics, Inc.,
ADR (a)
|
481,498
|
|||
|
Professional Services — 0.3%
|
|
|||
40,771
|
Parsons Corp. (a)
|
2,556,749
|
|||
|
Retail REITs — 0.7%
|
|
|||
139,043
|
Phillips Edison & Co., Inc.
|
5,072,289
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Semiconductors &
Semiconductor Equipment
— 3.5%
|
|
|||
83,435
|
Credo Technology Group
Holding Ltd. (a)
|
$1,624,479
|
|||
143,218
|
GLOBALFOUNDRIES,
Inc. (a) (b)
|
8,679,011
|
|||
190,853
|
ON Semiconductor Corp. (a)
|
15,941,951
|
|||
|
|
26,245,441
|
|||
|
Software — 17.0%
|
|
|||
87,018
|
AppLovin Corp., Class A (a)
|
3,467,667
|
|||
787,667
|
Aurora Innovation, Inc. (a)
|
3,442,105
|
|||
211,195
|
Bentley Systems, Inc., Class B
|
11,020,155
|
|||
129,365
|
Braze, Inc., Class A (a)
|
6,873,162
|
|||
63,193
|
Clearwater Analytics Holdings,
Inc., Class A (a)
|
1,265,756
|
|||
34,227
|
Crowdstrike Holdings, Inc.,
Class A (a)
|
8,738,838
|
|||
76,520
|
Freshworks, Inc., Class A (a)
|
1,797,455
|
|||
191,651
|
Gitlab, Inc., Class A (a)
|
12,066,347
|
|||
113,163
|
Informatica, Inc., Class A (a)
|
3,212,697
|
|||
37,496
|
Instructure Holdings, Inc. (a)
|
1,012,767
|
|||
58,602
|
Intapp, Inc. (a)
|
2,228,048
|
|||
67,036
|
Klaviyo, Inc., Class A (a)
|
1,862,260
|
|||
281,940
|
Palantir Technologies, Inc.,
Class A (a)
|
4,840,910
|
|||
37,185
|
Procore Technologies, Inc. (a)
|
2,573,946
|
|||
1,539,831
|
Samsara, Inc., Class A (a)
|
51,399,559
|
|||
77,398
|
SentinelOne, Inc., Class A (a)
|
2,123,801
|
|||
110,019
|
UiPath, Inc., Class A (a)
|
2,732,872
|
|||
49,238
|
Unity Software, Inc. (a)
|
2,013,342
|
|||
158,577
|
Vertex, Inc., Class A (a)
|
4,272,064
|
|||
|
|
126,943,751
|
|||
|
Technology Hardware, Storage
& Peripherals — 0.1%
|
|
|||
53,047
|
IonQ, Inc. (a)
|
657,252
|
|||
|
Trading Companies &
Distributors — 1.4%
|
|
|||
252,143
|
Core & Main, Inc., Class A (a)
|
10,189,099
|
|||
|
Total Common Stocks
|
746,332,525
|
|||
|
(Cost $628,898,764)
|
|
Principal
Value
|
Description
|
Value
|
|||
REPURCHASE AGREEMENTS — 3.0%
|
|||||
$10,765,272
|
Bank of America Corp., 5.32%
(c), dated 12/29/23, due
01/02/24, with a maturity
value of $10,773,226.
Collateralized by
U.S. Treasury Securities,
interest rates of 0.00% to
3.13%, due 08/31/27 to
05/15/48. The value of the
collateral including accrued
interest is $10,980,577. (d)
|
$10,765,272
|
|||
11,204,669
|
JPMorgan Chase & Co., 5.33%
(c), dated 12/29/23, due
01/02/24, with a maturity
value of $11,212,964.
Collateralized by
U.S. Treasury Securities,
interest rates of 2.50% to
5.00%, due 02/15/29 to
08/15/53. The value of the
collateral including accrued
interest is $11,428,763. (d)
|
11,204,669
|
|||
|
Total Repurchase Agreements
|
21,969,941
|
|||
|
(Cost $21,969,941)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 102.9%
|
768,302,466
|
|||
|
(Cost $650,868,705)
|
|
|||
|
Net Other Assets and
Liabilities — (2.9)%
|
(21,392,031
)
|
|||
|
Net Assets — 100.0%
|
$746,910,435
|
(a)
|
Non-income producing security.
|
(b)
|
All or a portion of this security is on loan (see Note 2D -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $20,663,128 and the total value of the collateral
held by the Fund is $21,969,941.
|
(c)
|
Rate shown reflects yield as of December 31, 2023.
|
(d)
|
This security serves as collateral for securities on loan.
|
Abbreviations throughout the Portfolio of Investments:
|
|
ADR
|
– American Depositary Receipt
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common Stocks*
|
$ 746,332,525
|
$ 746,332,525
|
$ —
|
$ —
|
Repurchase
Agreements
|
21,969,941
|
—
|
21,969,941
|
—
|
Total Investments
|
$768,302,466
|
$746,332,525
|
$21,969,941
|
$—
|
*
|
See Portfolio of Investments for industry breakout.
|
Securities Lending Agency Agreement
|
|
Total gross amount presented on the Statements
of Assets and Liabilities(1)
|
$20,663,128
|
Non-cash Collateral(2)
|
(20,663,128
)
|
Net Amount
|
$—
|
(1)
|
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
|
(2)
|
At December 31, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
|
Repurchase Agreements
|
|
Total gross amount presented on the Statements
of Assets and Liabilities(3)
|
$21,969,941
|
Non-cash Collateral(4)
|
(21,969,941
)
|
Net Amount
|
$—
|
(3)
|
The amount is included in “Investments, at value” on the
Statements of Assets and Liabilities.
|
(4)
|
At December 31, 2023, the value of the collateral received
from each seller exceeded the value of the repurchase
agreements.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 100.0%
|
|||||
|
Biotechnology — 78.8%
|
|
|||
1,702,627
|
ACADIA Pharmaceuticals,
Inc. (a)
|
$53,309,251
|
|||
1,764,743
|
Agios Pharmaceuticals, Inc. (a)
|
39,300,827
|
|||
1,419,086
|
Alkermes PLC (a)
|
39,365,446
|
|||
233,205
|
Alnylam Pharmaceuticals,
Inc. (a)
|
44,637,769
|
|||
135,326
|
Amgen, Inc.
|
38,976,594
|
|||
79,420
|
Argenx SE, ADR (a)
|
30,213,751
|
|||
218,759
|
BeiGene Ltd., ADR (a)
|
39,455,373
|
|||
146,554
|
Biogen, Inc. (a)
|
37,923,779
|
|||
459,508
|
BioMarin Pharmaceutical,
Inc. (a)
|
44,305,761
|
|||
415,028
|
BioNTech SE, ADR (a) (b)
|
43,802,055
|
|||
587,241
|
Exact Sciences Corp. (a)
|
43,444,089
|
|||
1,787,314
|
Exelixis, Inc. (a)
|
42,877,663
|
|||
1,264,417
|
Genmab A/S, ADR (a) (b)
|
40,259,037
|
|||
484,964
|
Gilead Sciences, Inc.
|
39,286,934
|
|||
4,663,808
|
Grifols S.A., ADR (a)
|
53,913,620
|
|||
684,386
|
Incyte Corp. (a)
|
42,972,597
|
|||
817,379
|
Ionis Pharmaceuticals, Inc. (a)
|
41,351,204
|
|||
469,281
|
Moderna, Inc. (a)
|
46,669,995
|
|||
341,635
|
Neurocrine Biosciences, Inc. (a)
|
45,013,828
|
|||
46,669
|
Regeneron Pharmaceuticals,
Inc. (a)
|
40,988,916
|
|||
339,300
|
Sarepta Therapeutics, Inc. (a)
|
32,718,699
|
|||
1,139,197
|
Ultragenyx Pharmaceutical,
Inc. (a)
|
54,476,400
|
|||
167,370
|
United Therapeutics Corp. (a)
|
36,802,989
|
|||
104,267
|
Vertex Pharmaceuticals, Inc. (a)
|
42,425,200
|
|||
|
|
1,014,491,777
|
|||
|
Life Sciences Tools & Services
— 21.2%
|
|
|||
588,890
|
Bio-Techne Corp.
|
45,438,752
|
|||
203,496
|
Charles River Laboratories
International, Inc. (a)
|
48,106,455
|
|||
315,364
|
Illumina, Inc. (a)
|
43,911,283
|
|||
204,655
|
IQVIA Holdings, Inc. (a)
|
47,353,074
|
|||
36,982
|
Mettler-Toledo International,
Inc. (a)
|
44,857,687
|
|||
1,005,335
|
QIAGEN N.V. (a)
|
43,661,699
|
|||
|
|
273,328,950
|
|||
|
Total Common Stocks
|
1,287,820,727
|
|||
|
(Cost $1,188,555,755)
|
|
Shares
|
Description
|
Value
|
|||
MONEY MARKET FUNDS — 0.1%
|
|||||
1,262,244
|
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.17% (c) (d)
|
$1,262,244
|
|||
|
(Cost $1,262,244)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 100.1%
|
1,289,082,971
|
|||
|
(Cost $1,189,817,999)
|
|
|||
|
Net Other Assets and
Liabilities — (0.1)%
|
(1,329,448
)
|
|||
|
Net Assets — 100.0%
|
$1,287,753,523
|
(a)
|
Non-income producing security.
|
(b)
|
All or a portion of this security is on loan (see Note 2D -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $1,233,882 and the total value of the collateral
held by the Fund is $1,262,244.
|
(c)
|
Rate shown reflects yield as of December 31, 2023.
|
(d)
|
This security serves as collateral for securities on loan.
|
Abbreviations throughout the Portfolio of Investments:
|
|
ADR
|
– American Depositary Receipt
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common
Stocks*
|
$ 1,287,820,727
|
$ 1,287,820,727
|
$ —
|
$ —
|
Money Market
Funds
|
1,262,244
|
1,262,244
|
—
|
—
|
Total
Investments
|
$1,289,082,971
|
$1,289,082,971
|
$—
|
$—
|
*
|
See Portfolio of Investments for industry breakout.
|
Securities Lending Agency Agreement
|
|
Total gross amount presented on the Statements
of Assets and Liabilities(1)
|
$1,233,882
|
Non-cash Collateral(2)
|
(1,233,882
)
|
Net Amount
|
$—
|
(1)
|
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
|
(2)
|
At December 31, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 100.0%
|
|||||
|
Broadline Retail — 12.5%
|
|
|||
3,657,695
|
Amazon.com, Inc. (a)
|
$555,750,178
|
|||
2,626,885
|
eBay, Inc.
|
114,584,724
|
|||
943,747
|
Etsy, Inc. (a)
|
76,490,694
|
|||
|
|
746,825,596
|
|||
|
Communications Equipment
— 10.5%
|
|
|||
761,809
|
Arista Networks, Inc. (a)
|
179,413,638
|
|||
1,406,154
|
Ciena Corp. (a)
|
63,290,991
|
|||
5,402,746
|
Cisco Systems, Inc.
|
272,946,728
|
|||
12,977,409
|
CommScope Holding Co.,
Inc. (a)
|
36,596,293
|
|||
2,561,925
|
Juniper Networks, Inc.
|
75,525,549
|
|||
|
|
627,773,199
|
|||
|
Entertainment — 6.7%
|
|
|||
580,122
|
Netflix, Inc. (a)
|
282,449,800
|
|||
2,603,860
|
ROBLOX Corp., Class A (a)
|
119,048,479
|
|||
|
|
401,498,279
|
|||
|
Financial Services — 3.1%
|
|
|||
2,965,398
|
PayPal Holdings, Inc. (a)
|
182,105,091
|
|||
|
Health Care Technology —
3.0%
|
|
|||
2,393,583
|
Teladoc Health, Inc. (a)
|
51,581,714
|
|||
666,650
|
Veeva Systems, Inc., Class A (a)
|
128,343,458
|
|||
|
|
179,925,172
|
|||
|
Hotels, Restaurants & Leisure
— 6.6%
|
|
|||
1,252,718
|
Airbnb, Inc., Class A (a)
|
170,545,028
|
|||
1,298,240
|
DoorDash, Inc., Class A (a)
|
128,382,954
|
|||
2,695,623
|
DraftKings, Inc., Class A (a)
|
95,020,711
|
|||
|
|
393,948,693
|
|||
|
Interactive Media & Services
— 23.8%
|
|
|||
2,279,655
|
Alphabet, Inc., Class A (a)
|
318,445,007
|
|||
1,918,620
|
Alphabet, Inc., Class C (a)
|
270,391,117
|
|||
2,217,137
|
Match Group, Inc. (a)
|
80,925,501
|
|||
1,300,826
|
Meta Platforms, Inc., Class A (a)
|
460,440,371
|
|||
3,116,807
|
Pinterest, Inc., Class A (a)
|
115,446,531
|
|||
6,283,622
|
Snap, Inc., Class A (a)
|
106,381,720
|
|||
3,480,500
|
ZoomInfo Technologies, Inc. (a)
|
64,354,445
|
|||
|
|
1,416,384,692
|
|||
|
IT Services — 10.8%
|
|
|||
859,426
|
Akamai Technologies, Inc. (a)
|
101,713,067
|
|||
1,456,189
|
Cloudflare, Inc., Class A (a)
|
121,242,296
|
|||
2,235,143
|
Fastly, Inc., Class A (a)
|
39,785,545
|
|||
882,011
|
GoDaddy, Inc., Class A (a)
|
93,634,288
|
|||
1,110,715
|
Okta, Inc. (a)
|
100,553,029
|
|||
933,314
|
Snowflake, Inc., Class A (a)
|
185,729,486
|
|||
|
|
642,657,711
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Software — 21.8%
|
|
|||
664,224
|
Atlassian Corp., Class A (a)
|
$157,992,321
|
|||
1,978,097
|
Box, Inc., Class A (a)
|
50,659,064
|
|||
2,437,121
|
Confluent, Inc., Class A (a)
|
57,028,631
|
|||
1,182,235
|
Datadog, Inc., Class A (a)
|
143,499,684
|
|||
1,592,745
|
DocuSign, Inc. (a)
|
94,688,690
|
|||
2,380,310
|
Dropbox, Inc., Class A (a)
|
70,171,539
|
|||
1,783,665
|
Nutanix, Inc., Class A (a)
|
85,062,984
|
|||
1,144,670
|
Salesforce, Inc. (a)
|
301,208,464
|
|||
1,366,072
|
Smartsheet, Inc., Class A (a)
|
65,325,563
|
|||
616,346
|
Workday, Inc., Class A (a)
|
170,148,477
|
|||
1,415,421
|
Zoom Video Communications,
Inc., Class A (a)
|
101,782,924
|
|||
|
|
1,297,568,341
|
|||
|
Specialty Retail — 1.2%
|
|
|||
1,331,222
|
Carvana Co. (a)
|
70,474,893
|
|||
|
Total Common Stocks
|
5,959,161,667
|
|||
|
(Cost $6,466,209,746)
|
|
|||
MONEY MARKET FUNDS — 0.1%
|
|||||
2,925,653
|
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
5.22% (b)
|
2,925,653
|
|||
|
(Cost $2,925,653)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 100.1%
|
5,962,087,320
|
|||
|
(Cost $6,469,135,399)
|
|
|||
|
Net Other Assets and
Liabilities — (0.1)%
|
(3,177,698
)
|
|||
|
Net Assets — 100.0%
|
$5,958,909,622
|
(a)
|
Non-income producing security.
|
(b)
|
Rate shown reflects yield as of December 31, 2023.
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common
Stocks*
|
$ 5,959,161,667
|
$ 5,959,161,667
|
$ —
|
$ —
|
Money Market
Funds
|
2,925,653
|
2,925,653
|
—
|
—
|
Total
Investments
|
$5,962,087,320
|
$5,962,087,320
|
$—
|
$—
|
*
|
See Portfolio of Investments for industry breakout.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.8%
|
|||||
|
Aerospace & Defense — 5.7%
|
|
|||
680,432
|
General Dynamics Corp.
|
$176,687,778
|
|||
359,906
|
Lockheed Martin Corp.
|
163,123,795
|
|||
329,131
|
Northrop Grumman Corp.
|
154,079,386
|
|||
|
|
493,890,959
|
|||
|
Air Freight & Logistics —
3.9%
|
|
|||
1,387,676
|
Expeditors International of
Washington, Inc.
|
176,512,387
|
|||
1,051,991
|
United Parcel Service, Inc.,
Class B
|
165,404,545
|
|||
|
|
341,916,932
|
|||
|
Beverages — 6.0%
|
|
|||
2,929,451
|
Coca-Cola (The) Co.
|
172,632,547
|
|||
3,198,482
|
Monster Beverage Corp. (a)
|
184,264,548
|
|||
999,127
|
PepsiCo, Inc.
|
169,691,730
|
|||
|
|
526,588,825
|
|||
|
Biotechnology — 9.7%
|
|
|||
1,093,212
|
AbbVie, Inc.
|
169,415,064
|
|||
620,938
|
Biogen, Inc. (a)
|
160,680,126
|
|||
2,054,760
|
Gilead Sciences, Inc.
|
166,456,108
|
|||
197,733
|
Regeneron Pharmaceuticals,
Inc. (a)
|
173,666,916
|
|||
441,774
|
Vertex Pharmaceuticals, Inc. (a)
|
179,753,423
|
|||
|
|
849,971,637
|
|||
|
Capital Markets — 4.5%
|
|
|||
512,062
|
Ameriprise Financial, Inc.
|
194,496,510
|
|||
516,345
|
Moody’s Corp.
|
201,663,703
|
|||
|
|
396,160,213
|
|||
|
Chemicals — 1.8%
|
|
|||
573,858
|
Air Products and Chemicals, Inc.
|
157,122,320
|
|||
|
Commercial Services &
Supplies — 2.1%
|
|
|||
3,658,963
|
Copart, Inc. (a)
|
179,289,187
|
|||
|
Communications Equipment
— 1.7%
|
|
|||
3,020,220
|
Cisco Systems, Inc.
|
152,581,514
|
|||
|
Consumer Staples Distribution
& Retail — 4.0%
|
|
|||
289,116
|
Costco Wholesale Corp.
|
190,839,689
|
|||
1,006,930
|
Walmart, Inc.
|
158,742,515
|
|||
|
|
349,582,204
|
|||
|
Electrical Equipment — 1.9%
|
|
|||
1,747,679
|
Emerson Electric Co.
|
170,101,597
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Electronic Equipment,
Instruments & Components
— 4.5%
|
|
|||
2,001,755
|
Amphenol Corp., Class A
|
$198,433,973
|
|||
1,359,356
|
TE Connectivity Ltd.
|
190,989,518
|
|||
|
|
389,423,491
|
|||
|
Financial Services — 4.1%
|
|
|||
415,860
|
Mastercard, Inc., Class A
|
177,368,449
|
|||
684,980
|
Visa, Inc., Class A
|
178,334,543
|
|||
|
|
355,702,992
|
|||
|
Food Products — 3.9%
|
|
|||
2,194,376
|
Archer-Daniels-Midland Co.
|
158,477,835
|
|||
2,493,920
|
Mondelez International, Inc.,
Class A
|
180,634,625
|
|||
|
|
339,112,460
|
|||
|
Ground Transportation —
2.1%
|
|
|||
5,197,017
|
CSX Corp.
|
180,180,579
|
|||
|
Health Care Equipment &
Supplies — 2.1%
|
|
|||
601,680
|
Stryker Corp.
|
180,179,093
|
|||
|
Health Care Providers &
Services — 3.8%
|
|
|||
846,939
|
Cencora, Inc.
|
173,944,332
|
|||
303,323
|
UnitedHealth Group, Inc.
|
159,690,460
|
|||
|
|
333,634,792
|
|||
|
Household Durables — 2.3%
|
|
|||
1,547,835
|
Garmin Ltd.
|
198,958,711
|
|||
|
Household Products — 3.8%
|
|
|||
2,181,794
|
Colgate-Palmolive Co.
|
173,910,800
|
|||
1,079,772
|
Procter & Gamble (The) Co.
|
158,229,789
|
|||
|
|
332,140,589
|
|||
|
Industrial Conglomerates —
2.1%
|
|
|||
881,647
|
Honeywell International, Inc.
|
184,890,192
|
|||
|
Insurance — 5.8%
|
|
|||
2,060,585
|
Aflac, Inc.
|
169,998,262
|
|||
851,814
|
Marsh & McLennan Cos., Inc.
|
161,393,199
|
|||
2,536,924
|
W.R. Berkley Corp.
|
179,411,265
|
|||
|
|
510,802,726
|
|||
|
IT Services — 4.5%
|
|
|||
538,251
|
Accenture PLC, Class A
|
188,877,659
|
|||
458,366
|
Gartner, Inc. (a)
|
206,773,486
|
|||
|
|
395,651,145
|
|||
|
Machinery — 2.3%
|
|
|||
2,025,656
|
PACCAR, Inc.
|
197,805,309
|
|||
|
Oil, Gas & Consumable Fuels
— 1.6%
|
|
|||
958,221
|
Chevron Corp.
|
142,928,244
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Pharmaceuticals — 3.5%
|
|
|||
2,831,387
|
Bristol-Myers Squibb Co.
|
$145,278,467
|
|||
1,044,839
|
Johnson & Johnson
|
163,768,065
|
|||
|
|
309,046,532
|
|||
|
Professional Services — 3.6%
|
|
|||
661,452
|
Automatic Data Processing, Inc.
|
154,098,472
|
|||
1,378,104
|
Paychex, Inc.
|
164,145,968
|
|||
|
|
318,244,440
|
|||
|
Specialty Retail — 6.3%
|
|
|||
558,154
|
Home Depot (The), Inc.
|
193,428,269
|
|||
1,382,154
|
Ross Stores, Inc.
|
191,276,292
|
|||
1,794,166
|
TJX (The) Cos., Inc.
|
168,310,712
|
|||
|
|
553,015,273
|
|||
|
Technology Hardware, Storage
& Peripherals — 2.2%
|
|
|||
2,151,839
|
NetApp, Inc.
|
189,706,126
|
|||
|
|||||
|
|||||
|
Total Investments — 99.8%
|
8,728,628,082
|
|||
|
(Cost $7,816,825,321)
|
|
|||
|
Net Other Assets and
Liabilities — 0.2%
|
15,356,557
|
|||
|
Net Assets — 100.0%
|
$8,743,984,639
|
(a)
|
Non-income producing security.
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common
Stocks*
|
$ 8,728,628,082
|
$ 8,728,628,082
|
$ —
|
$ —
|
*
|
See Portfolio of Investments for industry breakout.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.8%
|
|||||
|
Aerospace & Defense — 3.1%
|
|
|||
259,102
|
General Dynamics Corp.
|
$67,281,016
|
|||
316,536
|
L3Harris Technologies, Inc.
|
66,668,812
|
|||
147,460
|
Lockheed Martin Corp.
|
66,834,771
|
|||
142,918
|
Northrop Grumman Corp.
|
66,905,633
|
|||
789,822
|
RTX Corp.
|
66,455,623
|
|||
|
|
334,145,855
|
|||
|
Air Freight & Logistics —
1.2%
|
|
|||
760,851
|
C.H. Robinson Worldwide, Inc.
|
65,729,918
|
|||
420,076
|
United Parcel Service, Inc.,
Class B
|
66,048,549
|
|||
|
|
131,778,467
|
|||
|
Automobile Components —
0.6%
|
|
|||
2,024,535
|
Gentex Corp.
|
66,121,313
|
|||
|
Automobiles — 0.6%
|
|
|||
369,109
|
Toyota Motor Corp., ADR
|
67,687,208
|
|||
|
Banks — 3.1%
|
|
|||
670,754
|
Bank of Montreal
|
66,364,401
|
|||
1,360,058
|
Canadian Imperial Bank of
Commerce
|
65,473,192
|
|||
394,232
|
JPMorgan Chase & Co.
|
67,058,863
|
|||
651,148
|
Royal Bank of Canada
|
65,850,597
|
|||
1,025,085
|
Toronto-Dominion (The) Bank
|
66,240,993
|
|||
|
|
330,988,046
|
|||
|
Beverages — 3.1%
|
|
|||
1,150,711
|
Brown-Forman Corp., Class B
|
65,705,598
|
|||
1,133,615
|
Coca-Cola (The) Co.
|
66,803,932
|
|||
455,405
|
Diageo PLC, ADR
|
66,334,292
|
|||
2,008,607
|
Keurig Dr Pepper, Inc.
|
66,926,785
|
|||
393,134
|
PepsiCo, Inc.
|
66,769,879
|
|||
|
|
332,540,486
|
|||
|
Biotechnology — 1.9%
|
|
|||
429,338
|
AbbVie, Inc.
|
66,534,510
|
|||
233,832
|
Amgen, Inc.
|
67,348,293
|
|||
830,326
|
Gilead Sciences, Inc.
|
67,264,709
|
|||
|
|
201,147,512
|
|||
|
Building Products — 1.2%
|
|
|||
811,048
|
A.O. Smith Corp.
|
66,862,797
|
|||
1,151,909
|
Johnson Controls
International PLC
|
66,396,035
|
|||
|
|
133,258,832
|
|||
|
Capital Markets — 2.5%
|
|
|||
309,052
|
CME Group, Inc.
|
65,086,351
|
|||
173,961
|
Goldman Sachs Group (The),
Inc.
|
67,108,935
|
|||
1,151,909
|
Nasdaq, Inc.
|
66,971,989
|
|||
610,768
|
T. Rowe Price Group, Inc.
|
65,773,606
|
|||
|
|
264,940,881
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Chemicals — 2.4%
|
|
|||
241,511
|
Air Products and Chemicals, Inc.
|
$66,125,712
|
|||
119,240
|
NewMarket Corp.
|
65,084,769
|
|||
443,479
|
PPG Industries, Inc.
|
66,322,284
|
|||
697,463
|
Stepan Co.
|
65,945,127
|
|||
|
|
263,477,892
|
|||
|
Commercial Services &
Supplies — 1.2%
|
|
|||
1,120,980
|
Brady Corp., Class A
|
65,790,316
|
|||
373,956
|
Waste Management, Inc.
|
66,975,520
|
|||
|
|
132,765,836
|
|||
|
Communications Equipment
— 1.2%
|
|
|||
1,320,296
|
Cisco Systems, Inc.
|
66,701,354
|
|||
2,243,475
|
Juniper Networks, Inc.
|
66,137,643
|
|||
|
|
132,838,997
|
|||
|
Consumer Staples Distribution
& Retail — 1.2%
|
|
|||
1,468,032
|
Kroger (The) Co.
|
67,103,743
|
|||
424,424
|
Walmart, Inc.
|
66,910,443
|
|||
|
|
134,014,186
|
|||
|
Containers & Packaging —
2.4%
|
|
|||
328,800
|
Avery Dennison Corp.
|
66,470,208
|
|||
404,809
|
Packaging Corp. of America
|
65,947,434
|
|||
1,449,443
|
Silgan Holdings, Inc.
|
65,587,296
|
|||
1,181,640
|
Sonoco Products Co.
|
66,018,227
|
|||
|
|
264,023,165
|
|||
|
Electric Utilities — 11.1%
|
|
|||
1,076,095
|
ALLETE, Inc.
|
65,813,970
|
|||
1,303,446
|
Alliant Energy Corp.
|
66,866,780
|
|||
822,301
|
American Electric Power Co.,
Inc.
|
66,787,287
|
|||
686,287
|
Duke Energy Corp.
|
66,597,290
|
|||
661,531
|
Entergy Corp.
|
66,940,322
|
|||
1,281,802
|
Evergy, Inc.
|
66,910,064
|
|||
1,080,476
|
Eversource Energy
|
66,686,979
|
|||
1,868,403
|
Exelon Corp.
|
67,075,668
|
|||
1,621,109
|
Fortis, Inc.
|
66,676,213
|
|||
677,392
|
IDACORP, Inc.
|
66,601,181
|
|||
1,102,548
|
NextEra Energy, Inc.
|
66,968,766
|
|||
1,897,783
|
OGE Energy Corp.
|
66,289,560
|
|||
751,638
|
Otter Tail Corp.
|
63,866,681
|
|||
930,407
|
Pinnacle West Capital Corp.
|
66,840,439
|
|||
1,582,087
|
PNM Resources, Inc.
|
65,814,819
|
|||
1,534,190
|
Portland General Electric Co.
|
66,491,795
|
|||
955,857
|
Southern (The) Co.
|
67,024,693
|
|||
1,066,416
|
Xcel Energy, Inc.
|
66,021,815
|
|||
|
|
1,196,274,322
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Electrical Equipment — 1.2%
|
|
|||
680,728
|
Emerson Electric Co.
|
$66,255,256
|
|||
201,844
|
Hubbell, Inc.
|
66,392,547
|
|||
|
|
132,647,803
|
|||
|
Electronic Equipment,
Instruments & Components
— 0.6%
|
|
|||
469,713
|
TE Connectivity Ltd.
|
65,994,676
|
|||
|
Food Products — 6.8%
|
|
|||
917,040
|
Archer-Daniels-Midland Co.
|
66,228,629
|
|||
2,950,418
|
Flowers Foods, Inc.
|
66,413,909
|
|||
1,026,036
|
General Mills, Inc.
|
66,835,985
|
|||
361,968
|
Hershey (The) Co.
|
67,485,314
|
|||
2,086,906
|
Hormel Foods Corp.
|
67,010,552
|
|||
607,974
|
Ingredion, Inc.
|
65,983,418
|
|||
394,256
|
J & J Snack Foods Corp.
|
65,895,948
|
|||
529,846
|
J.M. Smucker (The) Co.
|
66,961,937
|
|||
405,527
|
Lancaster Colony Corp.
|
67,475,638
|
|||
973,952
|
McCormick & Co., Inc.
|
66,637,796
|
|||
925,736
|
Mondelez International, Inc.,
Class A
|
67,051,058
|
|||
|
|
733,980,184
|
|||
|
Gas Utilities — 3.1%
|
|
|||
573,220
|
Atmos Energy Corp.
|
66,436,198
|
|||
622,628
|
Chesapeake Utilities Corp.
|
65,768,196
|
|||
1,480,472
|
New Jersey Resources Corp.
|
65,999,442
|
|||
1,024,135
|
ONE Gas, Inc.
|
65,257,882
|
|||
1,048,725
|
Spire, Inc.
|
65,377,516
|
|||
|
|
328,839,234
|
|||
|
Ground Transportation —
1.9%
|
|
|||
528,748
|
Canadian National Railway Co.
|
66,426,611
|
|||
280,884
|
Norfolk Southern Corp.
|
66,395,360
|
|||
270,635
|
Union Pacific Corp.
|
66,473,369
|
|||
|
|
199,295,340
|
|||
|
Health Care Equipment &
Supplies — 2.5%
|
|
|||
607,751
|
Abbott Laboratories
|
66,895,152
|
|||
1,720,695
|
Baxter International, Inc.
|
66,522,069
|
|||
272,849
|
Becton Dickinson & Co.
|
66,528,772
|
|||
806,615
|
Medtronic PLC
|
66,448,944
|
|||
|
|
266,394,937
|
|||
|
Health Care Providers &
Services — 1.9%
|
|
|||
840,310
|
CVS Health Corp.
|
66,350,877
|
|||
485,408
|
Quest Diagnostics, Inc.
|
66,928,055
|
|||
127,655
|
UnitedHealth Group, Inc.
|
67,206,528
|
|||
|
|
200,485,460
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Hotels, Restaurants & Leisure
— 1.9%
|
|
|||
226,676
|
McDonald’s Corp.
|
$67,211,701
|
|||
693,890
|
Starbucks Corp.
|
66,620,379
|
|||
509,632
|
Yum! Brands, Inc.
|
66,588,517
|
|||
|
|
200,420,597
|
|||
|
Household Durables — 0.6%
|
|
|||
514,968
|
Garmin Ltd.
|
66,193,987
|
|||
|
Household Products — 3.1%
|
|
|||
467,660
|
Clorox (The) Co.
|
66,683,639
|
|||
839,882
|
Colgate-Palmolive Co.
|
66,946,994
|
|||
552,787
|
Kimberly-Clark Corp.
|
67,169,148
|
|||
454,873
|
Procter & Gamble (The) Co.
|
66,657,090
|
|||
2,455,046
|
Reynolds Consumer Products,
Inc.
|
65,893,435
|
|||
|
|
333,350,306
|
|||
|
Industrial Conglomerates —
0.6%
|
|
|||
319,093
|
Honeywell International, Inc.
|
66,916,993
|
|||
|
Insurance — 5.6%
|
|
|||
812,341
|
Aflac, Inc.
|
67,018,132
|
|||
480,770
|
Allstate (The) Corp.
|
67,298,184
|
|||
399,159
|
Assurant, Inc.
|
67,254,300
|
|||
298,936
|
Chubb Ltd.
|
67,559,536
|
|||
200,604
|
Erie Indemnity Co., Class A
|
67,186,292
|
|||
546,330
|
Hanover Insurance Group (The),
Inc.
|
66,335,389
|
|||
354,051
|
Marsh & McLennan Cos., Inc.
|
67,082,043
|
|||
1,297,079
|
Sun Life Financial, Inc.
|
67,266,517
|
|||
354,826
|
Travelers (The) Cos., Inc.
|
67,590,805
|
|||
|
|
604,591,198
|
|||
|
IT Services — 2.5%
|
|
|||
187,831
|
Accenture PLC, Class A
|
65,911,776
|
|||
749,599
|
Amdocs Ltd.
|
65,882,256
|
|||
879,611
|
Cognizant Technology Solutions
Corp., Class A
|
66,437,019
|
|||
3,598,074
|
Infosys Ltd., ADR
|
66,132,600
|
|||
|
|
264,363,651
|
|||
|
Machinery — 3.1%
|
|
|||
224,552
|
Caterpillar, Inc.
|
66,393,290
|
|||
277,192
|
Cummins, Inc.
|
66,406,888
|
|||
1,013,040
|
Donaldson Co., Inc.
|
66,202,164
|
|||
251,713
|
Illinois Tool Works, Inc.
|
65,933,703
|
|||
228,981
|
Snap-on, Inc.
|
66,138,872
|
|||
|
|
331,074,917
|
|||
|
Media — 0.6%
|
|
|||
1,511,139
|
Comcast Corp., Class A
|
66,263,445
|
|||
|
Multi-Utilities — 5.5%
|
|
|||
924,962
|
Ameren Corp.
|
66,911,751
|
|||
1,845,038
|
Avista Corp.
|
65,941,658
|
|||
1,223,674
|
Black Hills Corp.
|
66,017,212
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Multi-Utilities (Continued)
|
|
|||
735,396
|
Consolidated Edison, Inc.
|
$66,898,974
|
|||
602,562
|
DTE Energy Co.
|
66,438,486
|
|||
1,292,783
|
Northwestern Energy Group,
Inc.
|
65,789,727
|
|||
1,093,287
|
Public Service Enterprise Group,
Inc.
|
66,854,500
|
|||
891,543
|
Sempra
|
66,625,009
|
|||
793,690
|
WEC Energy Group, Inc.
|
66,804,887
|
|||
|
|
598,282,204
|
|||
|
Oil, Gas & Consumable Fuels
— 0.6%
|
|
|||
1,206,549
|
DT Midstream, Inc.
|
66,118,885
|
|||
|
Personal Care Products —
0.6%
|
|
|||
1,379,274
|
Unilever PLC, ADR
|
66,867,204
|
|||
|
Pharmaceuticals — 4.4%
|
|
|||
998,262
|
AstraZeneca PLC, ADR
|
67,232,946
|
|||
1,290,270
|
Bristol-Myers Squibb Co.
|
66,203,754
|
|||
425,161
|
Johnson & Johnson
|
66,639,735
|
|||
616,784
|
Merck & Co., Inc.
|
67,241,791
|
|||
673,610
|
Novartis AG, ADR
|
68,014,402
|
|||
2,336,657
|
Pfizer, Inc.
|
67,272,355
|
|||
1,352,574
|
Sanofi, ADR
|
67,263,505
|
|||
|
|
469,868,488
|
|||
|
Professional Services — 4.3%
|
|
|||
285,474
|
Automatic Data Processing, Inc.
|
66,506,878
|
|||
521,032
|
Booz Allen Hamilton Holding
Corp.
|
66,645,203
|
|||
328,601
|
Broadridge Financial Solutions,
Inc.
|
67,609,656
|
|||
1,235,287
|
CSG Systems International, Inc.
|
65,729,621
|
|||
1,917,517
|
Genpact Ltd.
|
66,557,015
|
|||
552,374
|
Paychex, Inc.
|
65,793,267
|
|||
757,382
|
Robert Half, Inc.
|
66,589,026
|
|||
|
|
465,430,666
|
|||
|
Semiconductors &
Semiconductor Equipment
— 1.8%
|
|
|||
333,809
|
Analog Devices, Inc.
|
66,281,115
|
|||
635,562
|
Taiwan Semiconductor
Manufacturing Co., Ltd., ADR
|
66,098,448
|
|||
388,644
|
Texas Instruments, Inc.
|
66,248,256
|
|||
|
|
198,627,819
|
|||
|
Software — 1.8%
|
|
|||
1,564,197
|
Open Text Corp.
|
65,727,558
|
|||
625,147
|
Oracle Corp.
|
65,909,248
|
|||
433,376
|
SAP SE, ADR
|
66,995,596
|
|||
|
|
198,632,402
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Specialized REITs — 1.9%
|
|
|||
306,995
|
American Tower Corp.
|
$66,274,081
|
|||
574,308
|
Crown Castle, Inc.
|
66,154,538
|
|||
219,905
|
Public Storage
|
67,071,025
|
|||
|
|
199,499,644
|
|||
|
Specialty Retail — 1.9%
|
|
|||
190,045
|
Home Depot (The), Inc.
|
65,860,095
|
|||
297,929
|
Lowe’s Cos., Inc.
|
66,304,099
|
|||
315,020
|
Tractor Supply Co.
|
67,738,750
|
|||
|
|
199,902,944
|
|||
|
Trading Companies &
Distributors — 1.8%
|
|
|||
1,014,275
|
Fastenal Co.
|
65,694,592
|
|||
645,888
|
MSC Industrial Direct Co., Inc.,
Class A
|
65,402,619
|
|||
155,196
|
Watsco, Inc.
|
66,496,830
|
|||
|
|
197,594,041
|
|||
|
Water Utilities — 1.2%
|
|
|||
811,842
|
American States Water Co.
|
65,288,333
|
|||
974,522
|
Middlesex Water Co.
|
63,948,134
|
|||
|
|
129,236,467
|
|||
|
Wireless Telecommunication
Services — 1.2%
|
|
|||
1,423,641
|
Rogers Communications, Inc.,
Class B
|
66,640,635
|
|||
423,289
|
T-Mobile US, Inc.
|
67,865,926
|
|||
|
|
134,506,561
|
|||
|
|||||
|
|||||
|
Total Investments — 99.8%
|
10,771,383,051
|
|||
|
(Cost $9,867,772,435)
|
|
|||
|
Net Other Assets and
Liabilities — 0.2%
|
22,479,910
|
|||
|
Net Assets — 100.0%
|
$10,793,862,961
|
Abbreviations throughout the Portfolio of Investments:
|
|
ADR
|
– American Depositary Receipt
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common
Stocks*
|
$ 10,771,383,051
|
$ 10,771,383,051
|
$ —
|
$ —
|
*
|
See Portfolio of Investments for industry breakout.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.9%
|
|||||
|
Air Freight & Logistics —
1.9%
|
|
|||
9,688
|
Expeditors International of
Washington, Inc.
|
$1,232,314
|
|||
|
Automobiles — 2.0%
|
|
|||
5,265
|
Tesla, Inc. (a)
|
1,308,247
|
|||
|
Biotechnology — 3.8%
|
|
|||
1,381
|
Regeneron Pharmaceuticals,
Inc. (a)
|
1,212,919
|
|||
3,080
|
Vertex Pharmaceuticals, Inc. (a)
|
1,253,221
|
|||
|
|
2,466,140
|
|||
|
Capital Markets — 2.4%
|
|
|||
11,821
|
Blackstone, Inc.
|
1,547,605
|
|||
|
Chemicals — 1.6%
|
|
|||
13,450
|
CF Industries Holdings, Inc.
|
1,069,275
|
|||
|
Commercial Services &
Supplies — 1.9%
|
|
|||
25,546
|
Copart, Inc. (a)
|
1,251,754
|
|||
|
Communications Equipment
— 2.2%
|
|
|||
5,997
|
Arista Networks, Inc. (a)
|
1,412,353
|
|||
|
Electronic Equipment,
Instruments & Components
— 2.1%
|
|
|||
13,976
|
Amphenol Corp., Class A
|
1,385,441
|
|||
|
Financial Services — 3.8%
|
|
|||
2,903
|
Mastercard, Inc., Class A
|
1,238,158
|
|||
4,782
|
Visa, Inc., Class A
|
1,244,994
|
|||
|
|
2,483,152
|
|||
|
Health Care Equipment &
Supplies — 2.5%
|
|
|||
12,983
|
Dexcom, Inc. (a)
|
1,611,060
|
|||
|
Health Care Providers &
Services — 6.8%
|
|
|||
5,913
|
Cencora, Inc.
|
1,214,412
|
|||
2,142
|
Humana, Inc.
|
980,629
|
|||
3,199
|
Molina Healthcare, Inc. (a)
|
1,155,831
|
|||
2,117
|
UnitedHealth Group, Inc.
|
1,114,537
|
|||
|
|
4,465,409
|
|||
|
Hotels, Restaurants & Leisure
— 4.3%
|
|
|||
405
|
Booking Holdings, Inc. (a)
|
1,436,624
|
|||
609
|
Chipotle Mexican Grill, Inc. (a)
|
1,392,759
|
|||
|
|
2,829,383
|
|||
|
Household Durables — 7.2%
|
|
|||
11,088
|
D.R. Horton, Inc.
|
1,685,154
|
|||
10,754
|
Lennar Corp., Class A
|
1,602,776
|
|||
203
|
NVR, Inc. (a)
|
1,421,092
|
|||
|
|
4,709,022
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Insurance — 1.9%
|
|
|||
17,668
|
W.R. Berkley Corp.
|
$1,249,481
|
|||
|
Interactive Media & Services
— 1.8%
|
|
|||
8,231
|
Alphabet, Inc., Class A (a)
|
1,149,788
|
|||
|
IT Services — 2.3%
|
|
|||
4,997
|
EPAM Systems, Inc. (a)
|
1,485,808
|
|||
|
Machinery — 4.1%
|
|
|||
4,479
|
Caterpillar, Inc.
|
1,324,306
|
|||
14,130
|
PACCAR, Inc.
|
1,379,794
|
|||
|
|
2,704,100
|
|||
|
Metals & Mining — 4.2%
|
|
|||
7,895
|
Nucor Corp.
|
1,374,046
|
|||
11,280
|
Steel Dynamics, Inc.
|
1,332,168
|
|||
|
|
2,706,214
|
|||
|
Oil, Gas & Consumable Fuels
— 8.0%
|
|
|||
6,690
|
Chevron Corp.
|
997,880
|
|||
8,997
|
ConocoPhillips
|
1,044,282
|
|||
8,485
|
EOG Resources, Inc.
|
1,026,261
|
|||
26,354
|
EQT Corp.
|
1,018,846
|
|||
8,508
|
Valero Energy Corp.
|
1,106,040
|
|||
|
|
5,193,309
|
|||
|
Semiconductors &
Semiconductor Equipment
— 17.0%
|
|
|||
8,322
|
Applied Materials, Inc.
|
1,348,747
|
|||
1,302
|
Broadcom, Inc.
|
1,453,357
|
|||
11,286
|
Enphase Energy, Inc. (a)
|
1,491,332
|
|||
2,408
|
KLA Corp.
|
1,399,770
|
|||
1,859
|
Lam Research Corp.
|
1,456,080
|
|||
2,694
|
NVIDIA Corp.
|
1,334,123
|
|||
13,157
|
ON Semiconductor Corp. (a)
|
1,099,004
|
|||
10,274
|
QUALCOMM, Inc.
|
1,485,929
|
|||
|
|
11,068,342
|
|||
|
Software — 10.1%
|
|
|||
2,063
|
Adobe, Inc. (a)
|
1,230,786
|
|||
5,506
|
Autodesk, Inc. (a)
|
1,340,601
|
|||
4,591
|
Palo Alto Networks, Inc. (a)
|
1,353,794
|
|||
2,057
|
ServiceNow, Inc. (a)
|
1,453,250
|
|||
2,387
|
Synopsys, Inc. (a)
|
1,229,090
|
|||
|
|
6,607,521
|
|||
|
Specialty Retail — 3.9%
|
|
|||
9,650
|
Ross Stores, Inc.
|
1,335,464
|
|||
12,526
|
TJX (The) Cos., Inc.
|
1,175,064
|
|||
|
|
2,510,528
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Textiles, Apparel & Luxury
Goods — 4.1%
|
|
|||
2,243
|
Deckers Outdoor Corp. (a)
|
$1,499,289
|
|||
10,871
|
NIKE, Inc., Class B
|
1,180,264
|
|||
|
|
2,679,553
|
|||
|
|||||
|
|||||
|
Total Investments — 99.9%
|
65,125,799
|
|||
|
(Cost $57,689,666)
|
|
|||
|
Net Other Assets and
Liabilities — 0.1%
|
81,187
|
|||
|
Net Assets — 100.0%
|
$65,206,986
|
(a)
|
Non-income producing security.
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common Stocks*
|
$ 65,125,799
|
$ 65,125,799
|
$ —
|
$ —
|
*
|
See Portfolio of Investments for industry breakout.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.9%
|
|||||
|
Aerospace & Defense — 84.6%
|
|
|||
5,683
|
AAR Corp. (a)
|
$354,619
|
|||
4,233
|
AeroVironment, Inc. (a)
|
533,527
|
|||
5,237
|
Astronics Corp. (a)
|
91,229
|
|||
16,164
|
Boeing (The) Co. (a)
|
4,213,308
|
|||
6,168
|
Curtiss-Wright Corp.
|
1,374,169
|
|||
2,346
|
Ducommun, Inc. (a)
|
122,133
|
|||
12,297
|
General Dynamics Corp.
|
3,193,162
|
|||
9,059
|
HEICO Corp.
|
1,620,383
|
|||
13,600
|
Hexcel Corp.
|
1,003,000
|
|||
33,681
|
Howmet Aerospace, Inc.
|
1,822,816
|
|||
6,419
|
Huntington Ingalls Industries,
Inc.
|
1,666,629
|
|||
4,543
|
Kaman Corp.
|
108,805
|
|||
20,759
|
Kratos Defense & Security
Solutions, Inc. (a)
|
421,200
|
|||
8,432
|
L3Harris Technologies, Inc.
|
1,775,948
|
|||
42,186
|
Leonardo DRS, Inc. (a)
|
845,407
|
|||
6,777
|
Lockheed Martin Corp.
|
3,071,608
|
|||
9,549
|
Mercury Systems, Inc. (a)
|
349,207
|
|||
5,144
|
Moog, Inc., Class A
|
744,748
|
|||
6,098
|
Northrop Grumman Corp.
|
2,854,718
|
|||
77,823
|
Rocket Lab USA, Inc. (a)
|
430,361
|
|||
40,804
|
RTX Corp.
|
3,433,249
|
|||
16,953
|
Spirit AeroSystems Holdings,
Inc., Class A (a)
|
538,766
|
|||
19,089
|
Textron, Inc.
|
1,535,137
|
|||
1,743
|
TransDigm Group, Inc.
|
1,763,219
|
|||
12,352
|
Triumph Group, Inc. (a)
|
204,796
|
|||
59,115
|
Virgin Galactic Holdings,
Inc. (a)
|
144,832
|
|||
9,728
|
Woodward, Inc.
|
1,324,273
|
|||
|
|
35,541,249
|
|||
|
Diversified Telecommunication
Services — 0.5%
|
|
|||
35,049
|
AST SpaceMobile, Inc. (a)
|
211,345
|
|||
|
Professional Services — 14.8%
|
|
|||
3,648
|
CACI International, Inc.,
Class A (a)
|
1,181,441
|
|||
21,724
|
KBR, Inc.
|
1,203,727
|
|||
15,749
|
Leidos Holdings, Inc.
|
1,704,672
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Professional Services
(Continued)
|
|
|||
16,888
|
Parsons Corp. (a)
|
$1,059,046
|
|||
8,524
|
Science Applications
International Corp.
|
1,059,704
|
|||
|
|
6,208,590
|
|||
|
|||||
|
|||||
|
Total Investments — 99.9%
|
41,961,184
|
|||
|
(Cost $38,928,166)
|
|
|||
|
Net Other Assets and
Liabilities — 0.1%
|
27,679
|
|||
|
Net Assets — 100.0%
|
$41,988,863
|
(a)
|
Non-income producing security.
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common Stocks*
|
$ 41,961,184
|
$ 41,961,184
|
$ —
|
$ —
|
*
|
See Portfolio of Investments for industry breakout.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.7%
|
|||||
|
Aerospace & Defense — 4.3%
|
|
|||
95
|
General Dynamics Corp.
|
$24,669
|
|||
105
|
L3Harris Technologies, Inc.
|
22,115
|
|||
|
|
46,784
|
|||
|
Building Products — 4.4%
|
|
|||
80
|
Carlisle Cos., Inc.
|
24,995
|
|||
157
|
Owens Corning
|
23,272
|
|||
|
|
48,267
|
|||
|
Chemicals — 11.1%
|
|
|||
92
|
Albemarle Corp.
|
13,292
|
|||
295
|
CF Industries Holdings, Inc.
|
23,453
|
|||
385
|
Dow, Inc.
|
21,113
|
|||
223
|
LyondellBasell Industries N.V.,
Class A
|
21,203
|
|||
585
|
Mosaic (The) Co.
|
20,902
|
|||
399
|
Olin Corp.
|
21,526
|
|||
|
|
121,489
|
|||
|
Electrical Equipment — 2.0%
|
|
|||
227
|
Emerson Electric Co.
|
22,094
|
|||
|
Electronic Equipment,
Instruments & Components
— 2.2%
|
|
|||
241
|
Amphenol Corp., Class A
|
23,890
|
|||
|
Energy Equipment & Services
— 6.6%
|
|
|||
660
|
ChampionX Corp.
|
19,278
|
|||
621
|
Halliburton Co.
|
22,449
|
|||
308
|
Weatherford
International PLC (a)
|
30,132
|
|||
|
|
71,859
|
|||
|
Hotel & Resort REITs — 2.2%
|
|
|||
1,217
|
Host Hotels & Resorts, Inc.
|
23,695
|
|||
|
Industrial Conglomerates —
2.2%
|
|
|||
186
|
General Electric Co.
|
23,739
|
|||
|
Machinery — 12.6%
|
|
|||
83
|
Caterpillar, Inc.
|
24,541
|
|||
139
|
Dover Corp.
|
21,380
|
|||
274
|
Fortive Corp.
|
20,175
|
|||
245
|
PACCAR, Inc.
|
23,924
|
|||
53
|
Parker-Hannifin Corp.
|
24,417
|
|||
187
|
Westinghouse Air Brake
Technologies Corp.
|
23,730
|
|||
|
|
138,167
|
|||
|
Metals & Mining — 8.1%
|
|
|||
1,222
|
Cleveland-Cliffs, Inc. (a)
|
24,953
|
|||
389
|
Commercial Metals Co.
|
19,466
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Metals & Mining (Continued)
|
|
|||
125
|
Nucor Corp.
|
$21,755
|
|||
188
|
Steel Dynamics, Inc.
|
22,203
|
|||
|
|
88,377
|
|||
|
Oil, Gas & Consumable Fuels
— 31.9%
|
|
|||
889
|
Antero Resources Corp. (a)
|
20,163
|
|||
599
|
APA Corp.
|
21,492
|
|||
295
|
Civitas Resources, Inc.
|
20,172
|
|||
198
|
ConocoPhillips
|
22,982
|
|||
424
|
Devon Energy Corp.
|
19,207
|
|||
156
|
Diamondback Energy, Inc.
|
24,193
|
|||
179
|
EOG Resources, Inc.
|
21,650
|
|||
151
|
Hess Corp.
|
21,768
|
|||
890
|
Marathon Oil Corp.
|
21,502
|
|||
391
|
Matador Resources Co.
|
22,232
|
|||
535
|
Murphy Oil Corp.
|
22,823
|
|||
538
|
Ovintiv, Inc.
|
23,629
|
|||
500
|
PBF Energy, Inc., Class A
|
21,980
|
|||
99
|
Pioneer Natural Resources Co.
|
22,263
|
|||
697
|
Range Resources Corp.
|
21,217
|
|||
3,408
|
Southwestern Energy Co. (a)
|
22,322
|
|||
|
|
349,595
|
|||
|
Real Estate Management &
Development — 2.1%
|
|
|||
254
|
CBRE Group, Inc., Class A (a)
|
23,645
|
|||
|
Retail REITs — 2.3%
|
|
|||
177
|
Simon Property Group, Inc.
|
25,247
|
|||
|
Specialized REITs — 7.7%
|
|
|||
423
|
Gaming and Leisure Properties,
Inc.
|
20,875
|
|||
206
|
Lamar Advertising Co., Class A
|
21,894
|
|||
652
|
VICI Properties, Inc.
|
20,786
|
|||
611
|
Weyerhaeuser Co.
|
21,244
|
|||
|
|
84,799
|
|||
|
|||||
|
|||||
|
Total Investments — 99.7%
|
1,091,647
|
|||
|
(Cost $1,042,592)
|
|
|||
|
Net Other Assets and
Liabilities — 0.3%
|
3,830
|
|||
|
Net Assets — 100.0%
|
$1,095,477
|
(a)
|
Non-income producing security.
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common Stocks*
|
$ 1,091,647
|
$ 1,091,647
|
$ —
|
$ —
|
*
|
See Portfolio of Investments for industry breakout.
|
|
First Trust Dow
Jones Select
MicroCap Index
Fund
(FDM)
|
First Trust
Morningstar
Dividend
Leaders Index
Fund
(FDL)
|
First Trust US
Equity
Opportunities
ETF
(FPX)
|
First Trust
NYSE® Arca®
Biotechnology
Index Fund
(FBT)
|
ASSETS:
|
|
|
|
|
Investments, at value
|
$177,884,006
|
$3,957,471,092
|
$768,302,466
|
$1,289,082,971
|
Cash
|
122,378
|
3,010,563
|
846,353
|
749,114
|
Receivables:
|
|
|
|
|
Dividends
|
146,380
|
13,052,680
|
286,376
|
—
|
Securities lending income
|
9,558
|
—
|
60,584
|
564
|
Reclaims
|
268
|
—
|
10,993
|
69,294
|
Investment securities sold
|
—
|
23,250,686
|
4,784,614
|
101,565
|
Capital shares sold
|
—
|
—
|
—
|
—
|
Prepaid expenses
|
1,126
|
33,629
|
3,530
|
7,368
|
Total Assets
|
178,163,716
|
3,996,818,650
|
774,294,916
|
1,290,010,876
|
|
||||
LIABILITIES:
|
|
|
|
|
Payables:
|
|
|
|
|
Collateral for securities on loan
|
5,614,589
|
—
|
21,969,941
|
1,262,244
|
Investment advisory fees
|
52,244
|
1,005,450
|
250,676
|
419,654
|
Licensing fees
|
39,299
|
851,528
|
162,532
|
242,243
|
Audit and tax fees
|
25,092
|
24,998
|
25,104
|
24,987
|
Shareholder reporting fees
|
15,036
|
191,454
|
46,438
|
77,779
|
Trustees’ fees
|
50
|
—
|
38
|
40
|
Investment securities purchased
|
—
|
—
|
—
|
2,036
|
Capital shares redeemed
|
—
|
23,330,243
|
4,787,808
|
—
|
Other liabilities
|
35,230
|
616,971
|
141,944
|
228,370
|
Total Liabilities
|
5,781,540
|
26,020,644
|
27,384,481
|
2,257,353
|
NET ASSETS
|
$172,382,176
|
$3,970,798,006
|
$746,910,435
|
$1,287,753,523
|
|
||||
NET ASSETS consist of:
|
|
|
|
|
Paid-in capital
|
$220,962,622
|
$4,530,553,374
|
$1,300,307,789
|
$1,863,230,748
|
Par value
|
28,050
|
1,107,000
|
78,000
|
81,500
|
Accumulated distributable earnings (loss)
|
(48,608,496
)
|
(560,862,368
)
|
(553,475,354
)
|
(575,558,725
)
|
NET ASSETS
|
$172,382,176
|
$3,970,798,006
|
$746,910,435
|
$1,287,753,523
|
NET ASSET VALUE, per share
|
$61.46
|
$35.87
|
$95.76
|
$158.01
|
Number of shares outstanding (unlimited number of
shares authorized, par value $0.01 per share)
|
2,805,000
|
110,700,002
|
7,800,002
|
8,150,002
|
Investments, at cost
|
$165,044,434
|
$3,982,375,224
|
$650,868,705
|
$1,189,817,999
|
Securities on loan, at value
|
$5,388,319
|
$—
|
$20,663,128
|
$1,233,882
|
First Trust Dow
Jones Internet
Index Fund
(FDN)
|
First Trust
Capital Strength
ETF
(FTCS)
|
First Trust Value
Line® Dividend
Index Fund
(FVD)
|
First Trust
Growth Strength
ETF
(FTGS)
|
First Trust Indxx
Aerospace &
Defense ETF
(MISL)
|
First Trust
Bloomberg
Inflation Sensitive
Equity ETF
(FTIF)
|
|
|
|
|
|
|
$5,962,087,320
|
$8,728,628,082
|
$10,771,383,051
|
$65,125,799
|
$41,961,184
|
$1,091,647
|
—
|
3,925,887
|
8,367,803
|
49,419
|
47,344
|
2,520
|
|
|
|
|
|
|
8,392
|
16,453,934
|
18,435,365
|
63,293
|
4,494
|
1,858
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
2,703,615
|
—
|
—
|
—
|
499,942
|
7,987,480
|
770,219,371
|
—
|
—
|
—
|
9,325,239
|
—
|
—
|
—
|
—
|
—
|
24,851
|
61,558
|
82,311
|
—
|
—
|
—
|
5,971,945,744
|
8,757,056,941
|
11,571,191,516
|
65,238,511
|
42,013,022
|
1,096,025
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
—
|
—
|
—
|
—
|
—
|
—
|
1,931,388
|
3,563,788
|
4,369,404
|
31,525
|
24,159
|
548
|
786,267
|
—
|
2,689,268
|
—
|
—
|
—
|
24,940
|
25,010
|
25,420
|
—
|
—
|
—
|
200,795
|
343,226
|
472,964
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
9,325,990
|
—
|
768,331,868
|
—
|
—
|
—
|
—
|
8,003,529
|
—
|
—
|
—
|
—
|
766,742
|
1,136,749
|
1,439,631
|
—
|
—
|
—
|
13,036,122
|
13,072,302
|
777,328,555
|
31,525
|
24,159
|
548
|
$5,958,909,622
|
$8,743,984,639
|
$10,793,862,961
|
$65,206,986
|
$41,988,863
|
$1,095,477
|
|
|||||
|
|
|
|
|
|
$7,568,386,203
|
$8,729,690,101
|
$10,687,370,270
|
$58,028,418
|
$39,029,339
|
$1,064,372
|
319,500
|
1,092,500
|
2,661,909
|
24,000
|
16,500
|
500
|
(1,609,796,081
)
|
13,202,038
|
103,830,782
|
7,154,568
|
2,943,024
|
30,605
|
$5,958,909,622
|
$8,743,984,639
|
$10,793,862,961
|
$65,206,986
|
$41,988,863
|
$1,095,477
|
$186.51
|
$80.04
|
$40.55
|
$27.17
|
$25.45
|
$21.91
|
31,950,002
|
109,250,002
|
266,190,884
|
2,400,002
|
1,650,002
|
50,002
|
$6,469,135,399
|
$7,816,825,321
|
$9,867,772,435
|
$57,689,666
|
$38,928,166
|
$1,042,592
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
|
First Trust Dow
Jones Select
MicroCap Index
Fund
(FDM)
|
First Trust
Morningstar
Dividend
Leaders Index
Fund
(FDL)
|
First Trust US
Equity
Opportunities
ETF
(FPX)
|
INVESTMENT INCOME:
|
|
|
|
Dividends
|
$3,759,734
|
$226,491,067
|
$4,888,799
|
Securities lending income (net of fees)
|
159,168
|
—
|
1,478,673
|
Foreign withholding tax
|
(828
)
|
—
|
—
|
Total investment income
|
3,918,074
|
226,491,067
|
6,367,472
|
|
|||
EXPENSES:
|
|
|
|
Investment advisory fees
|
761,755
|
13,534,809
|
3,058,739
|
Licensing fees
|
91,411
|
4,124,644
|
764,685
|
Accounting and administration fees
|
82,273
|
1,718,967
|
386,519
|
Shareholder reporting fees
|
33,056
|
496,641
|
79,244
|
Audit and tax fees
|
29,987
|
28,996
|
29,144
|
Custodian fees
|
15,029
|
19,070
|
22,644
|
Listing fees
|
7,812
|
17,500
|
7,812
|
Transfer agent fees
|
7,618
|
139,117
|
38,234
|
Trustees’ fees and expenses
|
7,207
|
11,008
|
7,664
|
Legal fees
|
3,747
|
129,268
|
19,654
|
Excise tax
|
—
|
—
|
—
|
Other expenses
|
3,507
|
64,491
|
15,297
|
Total expenses
|
1,043,402
|
20,284,511
|
4,429,636
|
Less fees waived by the investment advisor
|
(129,295
)
|
—
|
—
|
Net expenses
|
914,107
|
20,284,511
|
4,429,636
|
NET INVESTMENT INCOME (LOSS)
|
3,003,967
|
206,206,556
|
1,937,836
|
|
|||
NET REALIZED AND UNREALIZED GAIN (LOSS):
|
|
|
|
Net realized gain (loss) on:
|
|
|
|
Investments
|
(7,087,492
)
|
(191,819,298
)
|
(56,331,802
)
|
In-kind redemptions
|
2,663,375
|
272,029,876
|
43,287,800
|
Foreign currency transactions
|
—
|
—
|
—
|
Net realized gain (loss)
|
(4,424,117
)
|
80,210,578
|
(13,044,002
)
|
Net change in unrealized appreciation (depreciation) on:
|
|
|
|
Investments
|
22,992,909
|
(249,758,782
)
|
156,996,014
|
Foreign currency translation
|
—
|
—
|
—
|
Net change in unrealized appreciation (depreciation)
|
22,992,909
|
(249,758,782
)
|
156,996,014
|
NET REALIZED AND UNREALIZED GAIN (LOSS)
|
18,568,792
|
(169,548,204
)
|
143,952,012
|
NET INCREASE (DECREASE) IN NET ASSETS RESULTING
FROM OPERATIONS
|
$21,572,759
|
$36,658,352
|
$145,889,848
|
(a)
|
Fund is subject to a unitary fee (see Note 3 in the Notes to Financial Statements).
|
First Trust NYSE®
Arca® Biotechnology
Index Fund
(FBT)
|
First Trust Dow Jones
Internet Index Fund
(FDN)
|
First Trust Capital
Strength ETF
(FTCS)
|
First Trust Value
Line® Dividend Index
Fund
(FVD)
|
First Trust Growth
Strength ETF
(FTGS)
|
|
|
|
|
|
$3,455,323
|
$11,684,261
|
$180,325,773
|
$354,095,149
|
$260,447
|
20,816
|
7,190
|
—
|
—
|
—
|
—
|
—
|
—
|
(7,683,988
)
|
(138
)
|
3,476,139
|
11,691,451
|
180,325,773
|
346,411,161
|
260,309
|
|
||||
|
|
|
|
|
5,533,029
|
19,150,285
|
41,764,570
|
55,735,407
|
104,534
(a)
|
1,106,606
|
2,820,310
|
99,999
|
9,314,987
|
—
|
656,945
|
1,785,358
|
2,669,205
|
3,359,895
|
—
|
160,035
|
335,906
|
758,630
|
1,022,013
|
—
|
28,672
|
23,968
|
24,920
|
23,831
|
—
|
58,595
|
373,493
|
221,429
|
72,232
|
—
|
7,812
|
9,750
|
4,601
|
35,000
|
—
|
59,581
|
146,367
|
240,620
|
317,280
|
—
|
8,248
|
11,027
|
13,825
|
16,437
|
—
|
36,499
|
102,750
|
215,266
|
302,907
|
—
|
—
|
—
|
—
|
—
|
150
|
22,778
|
70,589
|
131,486
|
191,001
|
—
|
7,678,800
|
24,829,803
|
46,144,551
|
70,390,990
|
104,684
|
—
|
—
|
—
|
—
|
—
|
7,678,800
|
24,829,803
|
46,144,551
|
70,390,990
|
104,684
|
(4,202,661
)
|
(13,138,352
)
|
134,181,222
|
276,020,171
|
155,625
|
|
||||
|
|
|
|
|
|
|
|
|
|
(37,708,196
)
|
(576,826,562
)
|
(54,013,718
)
|
(83,491,182
)
|
(318,805
)
|
63,449,546
|
657,641,880
|
264,196,509
|
469,772,222
|
763,945
|
—
|
—
|
—
|
(4,302
)
|
—
|
25,741,350
|
80,815,318
|
210,182,791
|
386,276,738
|
445,140
|
|
|
|
|
|
(607,012
)
|
1,755,649,051
|
372,122,905
|
(260,437,697
)
|
7,428,679
|
—
|
—
|
—
|
329
|
—
|
(607,012
)
|
1,755,649,051
|
372,122,905
|
(260,437,368
)
|
7,428,679
|
25,134,338
|
1,836,464,369
|
582,305,696
|
125,839,370
|
7,873,819
|
$20,931,677
|
$1,823,326,017
|
$716,486,918
|
$401,859,541
|
$8,029,444
|
|
First Trust
Indxx Aerospace
& Defense ETF
(MISL)
|
First Trust
Bloomberg
Inflation
Sensitive Equity
ETF
(FTIF) (b)
|
INVESTMENT INCOME:
|
|
|
Dividends
|
$395,135
|
$21,516
|
Securities lending income (net of fees)
|
—
|
—
|
Foreign withholding tax
|
—
|
—
|
Total investment income
|
395,135
|
21,516
|
|
||
EXPENSES:
|
|
|
Investment advisory fees
|
162,286
(a)
|
5,013
(a)
|
Licensing fees
|
—
|
—
|
Accounting and administration fees
|
—
|
—
|
Shareholder reporting fees
|
—
|
—
|
Audit and tax fees
|
—
|
—
|
Custodian fees
|
—
|
—
|
Listing fees
|
—
|
—
|
Transfer agent fees
|
—
|
—
|
Trustees’ fees and expenses
|
—
|
—
|
Legal fees
|
—
|
—
|
Excise tax
|
—
|
—
|
Other expenses
|
—
|
—
|
Total expenses
|
162,286
|
5,013
|
Less fees waived by the investment advisor
|
—
|
—
|
Net expenses
|
162,286
|
5,013
|
NET INVESTMENT INCOME (LOSS)
|
232,849
|
16,503
|
|
||
NET REALIZED AND UNREALIZED GAIN (LOSS):
|
|
|
Net realized gain (loss) on:
|
|
|
Investments
|
(181,052
)
|
(18,844
)
|
In-kind redemptions
|
3,009,536
|
78,632
|
Foreign currency transactions
|
—
|
—
|
Net realized gain (loss)
|
2,828,484
|
59,788
|
Net change in unrealized appreciation (depreciation) on:
|
|
|
Investments
|
2,942,661
|
49,055
|
Foreign currency translation
|
—
|
—
|
Net change in unrealized appreciation (depreciation)
|
2,942,661
|
49,055
|
NET REALIZED AND UNREALIZED GAIN (LOSS)
|
5,771,145
|
108,843
|
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS
|
$6,003,994
|
$125,346
|
(a)
|
Fund is subject to a unitary fee (see Note 3 in the Notes to Financial Statements).
|
(b)
|
Inception date is March 13, 2023, which is consistent with the commencement of investment operations and is the date the initial
creation units were established.
|
|
First Trust Dow Jones Select
MicroCap Index Fund (FDM)
|
First Trust Morningstar Dividend
Leaders Index Fund (FDL)
|
||
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
OPERATIONS:
|
|
|
|
|
Net investment income (loss)
|
$3,003,967
|
$2,691,970
|
$206,206,556
|
$122,503,215
|
Net realized gain (loss)
|
(4,424,117
)
|
8,379,423
|
80,210,578
|
35,160,034
|
Net change in unrealized appreciation (depreciation)
|
22,992,909
|
(34,793,960
)
|
(249,758,782
)
|
(5,208,289
)
|
Net increase (decrease) in net assets resulting from
operations
|
21,572,759
|
(23,722,567
)
|
36,658,352
|
152,454,960
|
|
||||
DISTRIBUTIONS TO SHAREHOLDERS FROM:
|
|
|
|
|
Investment operations
|
(3,022,144
)
|
(2,696,103
)
|
(206,188,898
)
|
(122,518,973
)
|
|
||||
SHAREHOLDER TRANSACTIONS:
|
|
|
|
|
Proceeds from shares sold
|
23,930,860
|
113,413,517
|
1,747,025,494
|
3,837,574,234
|
Cost of shares redeemed
|
(14,540,849
)
|
(131,289,899
)
|
(2,408,514,348
)
|
(828,602,429
)
|
Net increase (decrease) in net assets resulting from
shareholder transactions
|
9,390,011
|
(17,876,382
)
|
(661,488,854
)
|
3,008,971,805
|
Total increase (decrease) in net assets
|
27,940,626
|
(44,295,052
)
|
(831,019,400
)
|
3,038,907,792
|
|
||||
NET ASSETS:
|
|
|
|
|
Beginning of period
|
144,441,550
|
188,736,602
|
4,801,817,406
|
1,762,909,614
|
End of period
|
$172,382,176
|
$144,441,550
|
$3,970,798,006
|
$4,801,817,406
|
|
||||
CHANGES IN SHARES OUTSTANDING:
|
|
|
|
|
Shares outstanding, beginning of period
|
2,605,000
|
2,955,000
|
131,400,002
|
49,600,002
|
Shares sold
|
450,000
|
1,900,000
|
49,150,000
|
105,600,000
|
Shares redeemed
|
(250,000
)
|
(2,250,000
)
|
(69,850,000
)
|
(23,800,000
)
|
Shares outstanding, end of period
|
2,805,000
|
2,605,000
|
110,700,002
|
131,400,002
|
First Trust US Equity Opportunities
ETF (FPX)
|
First Trust NYSE® Arca®
Biotechnology Index Fund (FBT)
|
First Trust Dow Jones Internet Index
Fund (FDN)
|
|||
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
|
|
|
|
|
|
$1,937,836
|
$9,971,724
|
$(4,202,661
)
|
$(3,533,844
)
|
$(13,138,352
)
|
$(13,722,408
)
|
(13,044,002
)
|
(201,088,840
)
|
25,741,350
|
(231,261,606
)
|
80,815,318
|
400,961,949
|
156,996,014
|
(386,182,483
)
|
(607,012
)
|
140,025,277
|
1,755,649,051
|
(4,159,637,254
)
|
145,889,848
|
(577,299,599
)
|
20,931,677
|
(94,770,173
)
|
1,823,326,017
|
(3,772,397,713
)
|
|
|||||
|
|
|
|
|
|
(2,404,856
)
|
(9,427,777
)
|
—
|
—
|
—
|
—
|
|
|||||
|
|
|
|
|
|
27,613,553
|
49,560,039
|
45,817,917
|
126,254,644
|
5,248,074,135
|
2,488,710,947
|
(227,281,860
)
|
(515,443,931
)
|
(262,351,148
)
|
(256,885,942
)
|
(4,665,330,390
)
|
(5,131,046,629
)
|
(199,668,307
)
|
(465,883,892
)
|
(216,533,231
)
|
(130,631,298
)
|
582,743,745
|
(2,642,335,682
)
|
(56,183,315
)
|
(1,052,611,268
)
|
(195,601,554
)
|
(225,401,471
)
|
2,406,069,762
|
(6,414,733,395
)
|
|
|||||
|
|
|
|
|
|
803,093,750
|
1,855,705,018
|
1,483,355,077
|
1,708,756,548
|
3,552,839,860
|
9,967,573,255
|
$746,910,435
|
$803,093,750
|
$1,287,753,523
|
$1,483,355,077
|
$5,958,909,622
|
$3,552,839,860
|
|
|||||
|
|
|
|
|
|
10,200,002
|
15,150,002
|
9,600,002
|
10,550,002
|
28,850,002
|
44,100,002
|
300,000
|
500,000
|
300,000
|
850,000
|
32,000,000
|
17,850,000
|
(2,700,000
)
|
(5,450,000
)
|
(1,750,000
)
|
(1,800,000
)
|
(28,900,000
)
|
(33,100,000
)
|
7,800,002
|
10,200,002
|
8,150,002
|
9,600,002
|
31,950,002
|
28,850,002
|
|
First Trust Capital Strength ETF
(FTCS)
|
First Trust Value Line® Dividend
Index Fund (FVD)
|
||
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
OPERATIONS:
|
|
|
|
|
Net investment income (loss)
|
$134,181,222
|
$101,795,857
|
$276,020,171
|
$251,184,769
|
Net realized gain (loss)
|
210,182,791
|
(117,550,809
)
|
386,276,738
|
494,800,079
|
Net change in unrealized appreciation (depreciation)
|
372,122,905
|
(1,009,131,344
)
|
(260,437,368
)
|
(1,448,623,545
)
|
Net increase (decrease) in net assets resulting from
operations
|
716,486,918
|
(1,024,886,296
)
|
401,859,541
|
(702,638,697
)
|
|
||||
DISTRIBUTIONS TO SHAREHOLDERS FROM:
|
|
|
|
|
Investment operations
|
(133,727,407
)
|
(104,442,497
)
|
(274,259,890
)
|
(255,493,903
)
|
|
||||
SHAREHOLDER TRANSACTIONS:
|
|
|
|
|
Proceeds from shares sold
|
1,899,324,126
|
3,134,829,083
|
666,352,515
|
2,857,719,852
|
Cost of shares redeemed
|
(2,430,246,599
)
|
(2,805,284,887
)
|
(2,442,760,000
)
|
(2,411,103,178
)
|
Net increase (decrease) in net assets resulting from
shareholder transactions
|
(530,922,473
)
|
329,544,196
|
(1,776,407,485
)
|
446,616,674
|
Total increase (decrease) in net assets
|
51,837,038
|
(799,784,597
)
|
(1,648,807,834
)
|
(511,515,926
)
|
|
||||
NET ASSETS:
|
|
|
|
|
Beginning of period
|
8,692,147,601
|
9,491,932,198
|
12,442,670,795
|
12,954,186,721
|
End of period
|
$8,743,984,639
|
$8,692,147,601
|
$10,793,862,961
|
$12,442,670,795
|
|
||||
CHANGES IN SHARES OUTSTANDING:
|
|
|
|
|
Shares outstanding, beginning of period
|
116,100,002
|
112,300,002
|
311,940,884
|
301,240,884
|
Shares sold
|
25,600,000
|
40,300,000
|
16,650,000
|
70,050,000
|
Shares redeemed
|
(32,450,000
)
|
(36,500,000
)
|
(62,400,000
)
|
(59,350,000
)
|
Shares outstanding, end of period
|
109,250,002
|
116,100,002
|
266,190,884
|
311,940,884
|
(a)
|
Inception date is October 25, 2022, which is consistent with the commencement of investment operations and is the date the
initial
creation units were established.
|
(b)
|
Inception date is March 13, 2023, which is consistent with the commencement of investment operations and is the date the initial
creation units were established.
|
First Trust Growth Strength ETF (FTGS)
|
First Trust Indxx Aerospace & Defense ETF
(MISL)
|
First Trust Bloomberg
Inflation Sensitive
Equity ETF (FTIF)
|
||
Year
Ended
12/31/2023
|
Period
Ended
12/31/2022 (a)
|
Year
Ended
12/31/2023
|
Period
Ended
12/31/2022 (a)
|
Period
Ended
12/31/2023 (b)
|
|
|
|
|
|
$155,625
|
$2,146
|
$232,849
|
$1,699
|
$16,503
|
445,140
|
2,655
|
2,828,484
|
101
|
59,788
|
7,428,679
|
7,454
|
2,942,661
|
90,357
|
49,055
|
8,029,444
|
12,255
|
6,003,994
|
92,157
|
125,346
|
|
||||
|
|
|
|
|
(160,091
)
|
(2,140
)
|
(247,120
)
|
(1,690
)
|
(16,931
)
|
|
||||
|
|
|
|
|
62,191,053
|
1,014,356
|
54,631,858
|
2,139,654
|
2,041,251
|
(5,877,891
)
|
—
|
(20,629,990
)
|
—
|
(1,054,189
)
|
56,313,162
|
1,014,356
|
34,001,868
|
2,139,654
|
987,062
|
64,182,515
|
1,024,471
|
39,758,742
|
2,230,121
|
1,095,477
|
|
||||
|
|
|
|
|
1,024,471
|
—
|
2,230,121
|
—
|
—
|
$65,206,986
|
$1,024,471
|
$41,988,863
|
$2,230,121
|
$1,095,477
|
|
||||
|
|
|
|
|
50,002
|
—
|
100,002
|
—
|
—
|
2,600,000
|
50,002
|
2,400,000
|
100,002
|
100,002
|
(250,000
)
|
—
|
(850,000
)
|
—
|
(50,000
)
|
2,400,002
|
50,002
|
1,650,002
|
100,002
|
50,002
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$55.45
|
$63.87
|
$47.94
|
$51.09
|
$40.76
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
1.10
(a)
|
1.00
|
0.64
|
0.80
|
0.66
|
Net realized and unrealized gain (loss)
|
6.02
|
(8.42
)
|
15.98
|
(3.15
)
|
10.37
|
Total from investment operations
|
7.12
|
(7.42
)
|
16.62
|
(2.35
)
|
11.03
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(1.11
)
|
(1.00
)
|
(0.69
)
|
(0.80
)
|
(0.70
)
|
Net asset value, end of period
|
$61.46
|
$55.45
|
$63.87
|
$47.94
|
$51.09
|
Total return (b)
|
13.01
%
|
(11.56
)%
|
34.71
%
|
(4.25
)%
|
27.25
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$172,382
|
$144,442
|
$188,737
|
$122,482
|
$156,067
|
Ratio of total expenses to average net assets
|
0.68
%
|
0.69
%
|
0.69
%
|
0.71
%
|
0.70
%
|
Ratio of net expenses to average net assets
|
0.60
%
|
0.60
%
|
0.60
%
|
0.60
%
|
0.60
%
|
Ratio of net investment income (loss) to average net assets
|
1.97
%
|
1.72
%
|
1.10
%
|
1.88
%
|
1.42
%
|
Portfolio turnover rate (c)
|
72
%
|
84
%
|
95
%
|
95
%
|
64
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year. The total returns would have
been lower if certain
fees had not been waived and expenses reimbursed by the investment advisor.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$36.54
|
$35.54
|
$29.59
|
$32.58
|
$27.24
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
1.59
(a)
|
1.30
|
1.29
|
1.32
|
1.22
|
Net realized and unrealized gain (loss)
|
(0.62
)
|
1.01
|
5.95
|
(2.98
)
|
5.34
|
Total from investment operations
|
0.97
|
2.31
|
7.24
|
(1.66
)
|
6.56
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(1.64
)
|
(1.31
)
|
(1.29
)
|
(1.33
)
|
(1.22
)
|
Net asset value, end of period
|
$35.87
|
$36.54
|
$35.54
|
$29.59
|
$32.58
|
Total return (b)
|
2.90
%
|
6.71
%
|
24.76
%
|
(4.42
)%
|
24.36
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$3,970,798
|
$4,801,817
|
$1,762,910
|
$1,399,483
|
$1,841,000
|
Ratio of total expenses to average net assets
|
0.44
%
|
0.45
%
|
0.46
%
|
0.46
%
|
0.46
%
|
Ratio of net expenses to average net assets
|
0.44
%
|
0.45
%
|
0.45
%
|
0.45
%
|
0.45
%
|
Ratio of net investment income (loss) to average net
assets
|
4.52
%
|
4.15
%
|
3.90
%
|
4.73
%
|
4.06
%
|
Portfolio turnover rate (c)
|
46
%
|
60
%
|
59
%
|
63
%
|
39
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year. The total returns would have
been lower if certain
fees had not been waived and expenses reimbursed by the investment advisor.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$78.73
|
$122.49
|
$118.32
|
$80.41
|
$62.07
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
0.22
(a)
|
0.90
|
0.08
|
0.24
|
0.58
|
Net realized and unrealized gain (loss)
|
17.07
|
(43.81
)
|
4.26
|
38.01
|
18.30
|
Total from investment operations
|
17.29
|
(42.91
)
|
4.34
|
38.25
|
18.88
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(0.26
)
|
(0.85
)
|
(0.17
)
|
(0.34
)
|
(0.54
)
|
Net asset value, end of period
|
$95.76
|
$78.73
|
$122.49
|
$118.32
|
$80.41
|
Total return (b)
|
22.01
%
|
(35.05
)%
|
3.67
%
|
47.76
%
|
30.45
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$746,910
|
$803,094
|
$1,855,705
|
$1,946,373
|
$1,330,835
|
Ratio of total expenses to average net assets
|
0.58
%
|
0.58
%
|
0.57
%
|
0.57
%
|
0.58
%
|
Ratio of net investment income (loss) to average net
assets
|
0.25
%
|
0.86
%
|
0.07
%
|
0.26
%
|
0.79
%
|
Portfolio turnover rate (c)
|
123
%
|
115
%
|
85
%
|
75
%
|
81
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$154.52
|
$161.97
|
$168.08
|
$148.84
|
$124.26
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
(0.46
) (a)
|
(0.37
)
|
(0.42
)
|
(0.45
)
|
(0.51
)
|
Net realized and unrealized gain (loss)
|
3.95
|
(7.08
)
|
(5.69
)
|
19.69
|
25.09
|
Total from investment operations
|
3.49
|
(7.45
)
|
(6.11
)
|
19.24
|
24.58
|
Net asset value, end of period
|
$158.01
|
$154.52
|
$161.97
|
$168.08
|
$148.84
|
Total return (b)
|
2.26
%
|
(4.60
)%
|
(3.64
)%
|
12.93
%
|
19.78
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$1,287,754
|
$1,483,355
|
$1,708,757
|
$2,042,173
|
$1,800,927
|
Ratio of total expenses to average net assets
|
0.56
%
|
0.56
%
|
0.55
%
|
0.55
%
|
0.55
%
|
Ratio of net investment income (loss) to average net
assets
|
(0.30
)%
|
(0.25
)%
|
(0.23
)%
|
(0.28
)%
|
(0.25
)%
|
Portfolio turnover rate (c)
|
30
%
|
39
%
|
39
%
|
26
%
|
31
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$123.15
|
$226.02
|
$212.37
|
$139.12
|
$116.66
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
(0.42
) (a)
|
(0.48
)
|
(0.73
)
|
(0.34
)
|
(0.14
)
|
Net realized and unrealized gain (loss)
|
63.78
|
(102.39
)
|
14.38
|
73.59
|
22.60
|
Total from investment operations
|
63.36
|
(102.87
)
|
13.65
|
73.25
|
22.46
|
Net asset value, end of period
|
$186.51
|
$123.15
|
$226.02
|
$212.37
|
$139.12
|
Total return (b)
|
51.44
%
|
(45.51
)%
|
6.43
%
|
52.65
%
|
19.26
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$5,958,910
|
$3,552,840
|
$9,967,573
|
$11,075,029
|
$7,853,367
|
Ratio of total expenses to average net assets
|
0.51
%
|
0.52
%
|
0.51
%
|
0.51
%
|
0.52
%
|
Ratio of net investment income (loss) to average net
assets
|
(0.27
)%
|
(0.26
)%
|
(0.30
)%
|
(0.20
)%
|
(0.10
)%
|
Portfolio turnover rate (c)
|
24
%
|
24
%
|
19
%
|
39
%
|
28
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$74.87
|
$84.52
|
$67.55
|
$60.37
|
$48.29
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
1.16
(a)
|
0.90
|
0.91
|
0.63
|
0.76
|
Net realized and unrealized gain (loss)
|
5.19
|
(9.63
)
|
16.95
|
7.18
|
12.08
|
Total from investment operations
|
6.35
|
(8.73
)
|
17.86
|
7.81
|
12.84
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(1.18
)
|
(0.92
)
|
(0.89
)
|
(0.63
)
|
(0.76
)
|
Net asset value, end of period
|
$80.04
|
$74.87
|
$84.52
|
$67.55
|
$60.37
|
Total return (b)
|
8.57
%
|
(10.28
)%
|
26.61
%
|
13.07
%
|
26.72
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$8,743,985
|
$8,692,148
|
$9,491,932
|
$7,021,909
|
$3,392,623
|
Ratio of total expenses to average net assets
|
0.54
%
|
0.55
%
|
0.55
%
|
0.56
%
|
0.58
%
|
Ratio of net investment income (loss) to average net
assets
|
1.56
%
|
1.21
%
|
1.23
%
|
1.10
%
|
1.46
%
|
Portfolio turnover rate (c)
|
104
%
|
135
%
|
117
%
|
133
%
|
125
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$39.89
|
$43.00
|
$35.10
|
$36.03
|
$29.07
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
0.93
(a)
|
0.82
|
0.74
|
0.79
|
0.73
|
Net realized and unrealized gain (loss)
|
0.68
|
(3.10
)
|
7.91
|
(0.91
)
|
6.96
|
Total from investment operations
|
1.61
|
(2.28
)
|
8.65
|
(0.12
)
|
7.69
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(0.95
)
|
(0.83
)
|
(0.75
)
|
(0.81
)
|
(0.73
)
|
Net asset value, end of period
|
$40.55
|
$39.89
|
$43.00
|
$35.10
|
$36.03
|
Total return (b)
|
4.10
%
|
(5.24
)%
|
24.86
%
|
(0.04
)%
|
26.60
%
|
|
|||||
Ratios to average net assets/supplemental
data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$10,793,863
|
$12,442,671
|
$12,954,187
|
$10,149,204
|
$9,665,219
|
Ratio of total expenses to average net assets
|
0.60
%
|
0.65
%
|
0.67
%
|
0.70
%
|
0.71
%
|
Ratio of net expenses to average net assets
|
0.60
%
|
0.65
%
|
0.67
%
|
0.70
%
|
0.70
%
|
Ratio of net investment income (loss) to average
net assets
|
2.36
%
|
2.04
%
|
1.91
%
|
2.47
%
|
2.36
%
|
Portfolio turnover rate (c)
|
57
%
|
53
%
|
47
%
|
86
%
|
53
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year. The total returns would have
been lower if certain
fees had not been waived and expenses reimbursed by the investment advisor.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year
Ended
12/31/2023
|
Period
Ended
12/31/2022 (a)
|
|
||
Net asset value, beginning of period
|
$20.49
|
$20.29
|
Income from investment operations:
|
|
|
Net investment income (loss)
|
0.22
(b)
|
0.04
|
Net realized and unrealized gain (loss)
|
6.63
|
0.20
|
Total from investment operations
|
6.85
|
0.24
|
Distributions paid to shareholders from:
|
|
|
Net investment income
|
(0.17
)
|
(0.04
)
|
Net realized gain
|
(0.00
) (c)
|
—
|
Total distributions
|
(0.17
)
|
(0.04
)
|
Net asset value, end of period
|
$27.17
|
$20.49
|
Total return (d)
|
33.54
%
|
1.20
%
|
|
||
Ratios to average net assets/supplemental data:
|
|
|
Net assets, end of period (in 000’s)
|
$65,207
|
$1,024
|
Ratio of total expenses to average net assets
|
0.60
%
|
0.60
% (e)
|
Ratio of net investment income (loss) to average net assets
|
0.89
%
|
1.11
% (e)
|
Portfolio turnover rate (f)
|
66
%
|
25
%
|
(a)
|
Inception date is October 25, 2022, which is consistent with the commencement of investment operations and is the date the
initial creation units
were established.
|
(b)
|
Based on average shares outstanding.
|
(c)
|
Amount represents less than $0.01.
|
(d)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(e)
|
Annualized.
|
(f)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year
Ended
12/31/2023
|
Period
Ended
12/31/2022 (a)
|
|
||
Net asset value, beginning of period
|
$22.30
|
$20.79
|
Income from investment operations:
|
|
|
Net investment income (loss)
|
0.20
(b)
|
0.02
|
Net realized and unrealized gain (loss)
|
3.11
|
1.51
|
Total from investment operations
|
3.31
|
1.53
|
Distributions paid to shareholders from:
|
|
|
Net investment income
|
(0.14
)
|
(0.02
)
|
Net realized gain
|
(0.02
)
|
—
|
Total distributions
|
(0.16
)
|
(0.02
)
|
Net asset value, end of period
|
$25.45
|
$22.30
|
Total return (c)
|
14.88
%
|
7.34
%
|
|
||
Ratios to average net assets/supplemental data:
|
|
|
Net assets, end of period (in 000’s)
|
$41,989
|
$2,230
|
Ratio of total expenses to average net assets
|
0.60
%
|
0.60
% (d)
|
Ratio of net investment income (loss) to average net assets
|
0.86
%
|
0.53
% (d)
|
Portfolio turnover rate (e)
|
12
%
|
2
%
|
(a)
|
Inception date is October 25, 2022, which is consistent with the commencement of investment operations and is the date the
initial creation units
were established.
|
(b)
|
Based on average shares outstanding.
|
(c)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(d)
|
Annualized.
|
(e)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Period
Ended
12/31/2023 (a)
|
|
|
Net asset value, beginning of period
|
$19.69
|
Income from investment operations:
|
|
Net investment income (loss) (b)
|
0.33
|
Net realized and unrealized gain (loss)
|
2.23
|
Total from investment operations
|
2.56
|
Distributions paid to shareholders from:
|
|
Net investment income
|
(0.34
)
|
Net asset value, end of period
|
$21.91
|
Total return (c)
|
13.06
%
|
|
|
Ratios to average net assets/supplemental data:
|
|
Net assets, end of period (in 000’s)
|
$1,095
|
Ratio of total expenses to average net assets
|
0.60
% (d)
|
Ratio of net investment income (loss) to average net assets
|
1.98
% (d)
|
Portfolio turnover rate (e)
|
44
%
|
(a)
|
Inception date is March 13, 2023, which is consistent with the commencement of investment operations and is the date the initial
creation units
were established.
|
(b)
|
Based on average shares outstanding.
|
(c)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The return
presented does not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(d)
|
Annualized.
|
(e)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
First Trust Dow Jones Select MicroCap Index Fund – (NYSE Arca, Inc. (“NYSE Arca”) ticker “FDM”)
|
First Trust Morningstar Dividend Leaders Index Fund – (NYSE Arca ticker “FDL”)
|
First Trust US Equity Opportunities ETF – (NYSE Arca ticker “FPX”)
|
First Trust NYSE® Arca® Biotechnology Index Fund – (NYSE Arca ticker “FBT”)
|
First Trust Dow Jones Internet Index Fund – (NYSE Arca ticker “FDN”)
|
First Trust Capital Strength ETF – (Nasdaq, Inc. (“Nasdaq”) ticker “FTCS”)
|
First Trust Value Line® Dividend Index Fund – (NYSE Arca ticker “FVD”)
|
First Trust Growth Strength ETF – (Nasdaq ticker “FTGS”)
|
First Trust Indxx Aerospace & Defense ETF – (NYSE Arca ticker “MISL”)
|
First Trust Bloomberg Inflation Sensitive Equity ETF – (NYSE Arca ticker “FTIF”)(1)
|
(1)
|
Commenced investment operations on March 13, 2023.
|
Fund
|
Index
|
First Trust Dow Jones Select MicroCap Index Fund
|
Dow Jones Select MicroCap IndexSM
|
First Trust Morningstar Dividend Leaders Index Fund
|
Morningstar® Dividend Leaders IndexSM
|
First Trust US Equity Opportunities ETF
|
IPOX®-100 U.S. Index
|
First Trust NYSE® Arca® Biotechnology Index Fund
|
NYSE® Arca® Biotechnology Index
|
First Trust Dow Jones Internet Index Fund
|
Dow Jones Internet Composite IndexSM
|
First Trust Capital Strength ETF
|
The Capital StrengthTM Index
|
First Trust Value Line® Dividend Index Fund
|
Value Line® Dividend Index
|
First Trust Growth Strength ETF
|
The Growth StrengthTM Index
|
First Trust Indxx Aerospace & Defense ETF
|
Indxx US Aerospace & Defense Index
|
First Trust Bloomberg Inflation Sensitive Equity ETF
|
Bloomberg Inflation Sensitive Equity Index
|
|
Distributions
paid from
Ordinary
Income
|
Distributions
paid from
Capital
Gains
|
Distributions
paid from
Return of
Capital
|
First Trust Dow Jones Select MicroCap Index Fund
|
$3,022,144
|
$—
|
$—
|
First Trust Morningstar Dividend Leaders Index Fund
|
206,188,898
|
—
|
—
|
First Trust US Equity Opportunities ETF
|
2,404,856
|
—
|
—
|
First Trust NYSE® Arca® Biotechnology Index Fund
|
—
|
—
|
—
|
First Trust Dow Jones Internet Index Fund
|
—
|
—
|
—
|
First Trust Capital Strength ETF
|
133,727,407
|
—
|
—
|
First Trust Value Line® Dividend Index Fund
|
274,259,890
|
—
|
—
|
First Trust Growth Strength ETF
|
160,004
|
87
|
—
|
First Trust Indxx Aerospace & Defense ETF
|
247,120
|
—
|
—
|
First Trust Bloomberg Inflation Sensitive Equity ETF
|
16,931
|
—
|
—
|
|
Distributions
paid from
Ordinary
Income
|
Distributions
paid from
Capital
Gains
|
Distributions
paid from
Return of
Capital
|
First Trust Dow Jones Select MicroCap Index Fund
|
$2,696,103
|
$—
|
$—
|
First Trust Morningstar Dividend Leaders Index Fund
|
122,518,973
|
—
|
—
|
First Trust US Equity Opportunities ETF
|
9,427,777
|
—
|
—
|
First Trust NYSE® Arca® Biotechnology Index Fund
|
—
|
—
|
—
|
First Trust Dow Jones Internet Index Fund
|
—
|
—
|
—
|
First Trust Capital Strength ETF
|
104,442,497
|
—
|
—
|
First Trust Value Line® Dividend Index Fund
|
255,493,903
|
—
|
—
|
First Trust Growth Strength ETF
|
2,140
|
—
|
—
|
First Trust Indxx Aerospace & Defense ETF
|
1,690
|
—
|
—
|
|
Undistributed
Ordinary
Income
|
Accumulated
Capital and
Other
Gain (Loss)
|
Net
Unrealized
Appreciation
(Depreciation)
|
First Trust Dow Jones Select MicroCap Index Fund
|
$38,433
|
$(60,407,373
)
|
$11,760,444
|
First Trust Morningstar Dividend Leaders Index Fund
|
889,346
|
(443,919,569
)
|
117,832,145
|
First Trust US Equity Opportunities ETF
|
78,995
|
(670,354,553
)
|
116,800,204
|
First Trust NYSE® Arca® Biotechnology Index Fund
|
—
|
(647,288,577
)
|
71,729,852
|
First Trust Dow Jones Internet Index Fund
|
—
|
(891,208,115
)
|
(718,587,966
)
|
First Trust Capital Strength ETF
|
619,558
|
(874,114,791
)
|
886,697,271
|
First Trust Value Line® Dividend Index Fund
|
3,303,745
|
(541,442,011
)
|
641,969,048
|
First Trust Growth Strength ETF
|
—
|
(196,325
)
|
7,350,893
|
First Trust Indxx Aerospace & Defense ETF
|
14,091
|
—
|
2,928,933
|
First Trust Bloomberg Inflation Sensitive Equity ETF
|
—
|
(7,544
)
|
38,149
|
|
Non-Expiring
Capital Loss
Carryforwards
|
First Trust Dow Jones Select MicroCap Index Fund
|
$60,407,373
|
First Trust Morningstar Dividend Leaders Index Fund
|
443,919,569
|
First Trust US Equity Opportunities ETF
|
670,354,553
|
First Trust NYSE® Arca® Biotechnology Index Fund
|
647,288,577
|
First Trust Dow Jones Internet Index Fund
|
891,208,115
|
First Trust Capital Strength ETF
|
874,114,791
|
First Trust Value Line® Dividend Index Fund*
|
541,442,011
|
First Trust Growth Strength ETF
|
196,325
|
First Trust Indxx Aerospace & Defense ETF
|
—
|
First Trust Bloomberg Inflation Sensitive Equity ETF
|
7,544
|
*
|
$11,007,161 of First Trust Value Line® Dividend Index Fund’s non-expiring net capital losses is subject to loss limitation resulting
from reorganization activity. This limitation generally reduces the utilization of these losses to a maximum of $364,518 per
year.
|
|
Accumulated
Net Investment
Income (Loss)
|
Accumulated
Net Realized
Gain (Loss)
on Investments
|
Paid-In
Capital
|
First Trust Dow Jones Select MicroCap Index Fund
|
$56,610
|
$(1,974,599
)
|
$1,917,989
|
First Trust Morningstar Dividend Leaders Index Fund
|
443,599
|
(195,628,914
)
|
195,185,315
|
First Trust US Equity Opportunities ETF
|
942
|
(42,869,417
)
|
42,868,475
|
First Trust NYSE® Arca® Biotechnology Index Fund
|
4,202,661
|
(57,148,651
)
|
52,945,990
|
First Trust Dow Jones Internet Index Fund
|
13,138,352
|
(391,776,245
)
|
378,637,893
|
|
Accumulated
Net Investment
Income (Loss)
|
Accumulated
Net Realized
Gain (Loss)
on Investments
|
Paid-In
Capital
|
First Trust Capital Strength ETF
|
$—
|
$(247,649,996
)
|
$247,649,996
|
First Trust Value Line® Dividend Index Fund
|
1,543,464
|
(377,369,817
)
|
375,826,353
|
First Trust Growth Strength ETF
|
1,837
|
(726,737
)
|
724,900
|
First Trust Indxx Aerospace & Defense ETF
|
—
|
(2,904,317
)
|
2,904,317
|
First Trust Bloomberg Inflation Sensitive Equity ETF
|
428
|
(78,238
)
|
77,810
|
|
Tax Cost
|
Gross
Unrealized
Appreciation
|
Gross
Unrealized
(Depreciation)
|
Net Unrealized
Appreciation
(Depreciation)
|
First Trust Dow Jones Select MicroCap Index Fund
|
$166,123,562
|
$23,999,448
|
$(12,239,004
)
|
$11,760,444
|
First Trust Morningstar Dividend Leaders Index Fund
|
4,075,303,237
|
222,691,300
|
(340,523,445
)
|
(117,832,145
)
|
First Trust US Equity Opportunities ETF
|
651,502,262
|
130,462,109
|
(13,661,905
)
|
116,800,204
|
First Trust NYSE® Arca® Biotechnology Index Fund
|
1,217,353,119
|
237,742,658
|
(166,012,806
)
|
71,729,852
|
First Trust Dow Jones Internet Index Fund
|
6,680,675,286
|
517,248,102
|
(1,235,836,068
)
|
(718,587,966
)
|
First Trust Capital Strength ETF
|
7,841,930,811
|
1,036,816,322
|
(150,119,051
)
|
886,697,271
|
First Trust Value Line® Dividend Index Fund
|
10,129,414,102
|
1,167,284,229
|
(525,315,280
)
|
641,968,949
|
First Trust Growth Strength ETF
|
57,774,906
|
7,837,349
|
(486,456
)
|
7,350,893
|
First Trust Indxx Aerospace & Defense ETF
|
39,032,251
|
3,720,781
|
(791,848
)
|
2,928,933
|
First Trust Bloomberg Inflation Sensitive Equity ETF
|
1,053,498
|
68,071
|
(29,922
)
|
38,149
|
Fund
|
Licensor
|
First Trust Dow Jones Select MicroCap Index Fund
|
S&P Dow Jones Indices LLC
|
First Trust Morningstar Dividend Leaders Index Fund
|
Morningstar, Inc.
|
First Trust US Equity Opportunities ETF
|
IPOX® Schuster LLC
|
First Trust NYSE® Arca® Biotechnology Index Fund
|
ICE Data Indices, LLC
|
First Trust Dow Jones Internet Index Fund
|
S&P Dow Jones Indices LLC
|
First Trust Capital Strength ETF
|
Nasdaq, Inc.
|
First Trust Value Line® Dividend Index Fund
|
Value Line Publishing LLC
|
First Trust Growth Strength ETF
|
Nasdaq, Inc.
|
First Trust Indxx Aerospace & Defense ETF
|
Indxx, Inc.
|
First Trust Bloomberg Inflation Sensitive Equity ETF
|
Bloomberg Index Services Limited
|
Breakpoints
|
FTGS
|
MISL
|
FTIF
|
Fund net assets up to and including $2.5 billion
|
0.600
%
|
0.600
%
|
0.600
%
|
Fund net assets greater than $2.5 billion up to and including
$5 billion
|
0.585
%
|
0.585
%
|
0.585
%
|
Fund net assets greater than $5 billion up to and including
$7.5 billion
|
0.570
%
|
0.570
%
|
0.570
%
|
Fund net assets greater than $7.5 billion up to and including
$10 billion
|
0.555
%
|
0.555
%
|
0.555
%
|
Fund net assets greater than $10 billion up to and including
$15 billion
|
0.540
%
|
0.540
%
|
0.540
%
|
Fund net assets greater than $15 billion
|
0.510
%
|
0.510
%
|
0.510
%
|
Breakpoints
|
FDM
|
FDL
|
FPX
|
FBT
|
FDN
|
FTCS
|
FVD
|
Fund net assets up to and including $2.5 billion
|
0.5000
%
|
0.3000
%
|
0.40
%
|
0.40
%
|
0.40
%
|
0.5000
%
|
0.5000
%
|
Fund net assets greater than $2.5 billion up to and including
$5 billion
|
0.4875
%
|
0.2925
%
|
0.39
%
|
0.39
%
|
0.39
%
|
0.4875
%
|
0.4875
%
|
Fund net assets greater than $5 billion up to and including
$7.5 billion
|
0.4750
%
|
0.2850
%
|
0.38
%
|
0.38
%
|
0.38
%
|
0.4750
%
|
0.4750
%
|
Fund net assets greater than $7.5 billion up to and including
$10 billion
|
0.4625
%
|
0.2775
%
|
0.37
%
|
0.37
%
|
0.37
%
|
0.4625
%
|
0.4625
%
|
Fund net assets greater than $10 billion up to and including
$15 billion
|
0.4500
%
|
0.2700
%
|
0.36
%
|
0.36
%
|
0.36
%
|
0.4500
%
|
0.4500
%
|
Fund net assets greater than $15 billion
|
0.4250
%
|
0.2550
%
|
0.34
%
|
0.34
%
|
0.34
%
|
0.4250
%
|
0.4250
%
|
|
Expense Cap
|
First Trust Dow Jones Select MicroCap Index Fund
|
0.60
%
|
First Trust Morningstar Dividend Leaders Index Fund
|
0.45
%
|
First Trust US Equity Opportunities ETF
|
0.60
%
|
First Trust NYSE® Arca® Biotechnology Index Fund
|
0.60
%
|
First Trust Dow Jones Internet Index Fund
|
0.60
%
|
First Trust Capital Strength ETF
|
0.65
%
|
First Trust Value Line® Dividend Index Fund
|
0.70
%
|
|
Purchases
|
Sales
|
First Trust Dow Jones Select MicroCap Index Fund
|
$110,723,803
|
$110,532,943
|
First Trust Morningstar Dividend Leaders Index Fund
|
2,080,047,955
|
2,076,725,205
|
First Trust US Equity Opportunities ETF
|
948,069,014
|
946,650,315
|
First Trust NYSE® Arca® Biotechnology Index Fund
|
415,761,702
|
419,949,692
|
First Trust Dow Jones Internet Index Fund
|
1,174,545,872
|
1,187,700,262
|
First Trust Capital Strength ETF
|
8,927,597,069
|
8,926,564,991
|
First Trust Value Line® Dividend Index Fund
|
6,644,540,002
|
6,637,886,540
|
First Trust Growth Strength ETF
|
11,932,950
|
11,992,494
|
First Trust Indxx Aerospace & Defense ETF
|
3,226,387
|
3,184,692
|
First Trust Bloomberg Inflation Sensitive Equity ETF
|
447,411
|
447,689
|
|
Purchases
|
Sales
|
First Trust Dow Jones Select MicroCap Index Fund
|
$23,892,211
|
$14,517,670
|
First Trust Morningstar Dividend Leaders Index Fund
|
1,738,646,919
|
2,399,677,314
|
First Trust US Equity Opportunities ETF
|
27,614,552
|
227,083,144
|
First Trust NYSE® Arca® Biotechnology Index Fund
|
45,816,214
|
262,310,703
|
First Trust Dow Jones Internet Index Fund
|
5,247,464,980
|
4,663,548,198
|
First Trust Capital Strength ETF
|
1,896,742,138
|
2,440,582,024
|
First Trust Value Line® Dividend Index Fund
|
664,480,287
|
2,439,412,618
|
First Trust Growth Strength ETF
|
62,082,627
|
5,789,592
|
First Trust Indxx Aerospace & Defense ETF
|
54,520,820
|
20,601,774
|
First Trust Bloomberg Inflation Sensitive Equity ETF
|
2,037,965
|
1,053,759
|
Individual Funds
Included in the Trust
|
Statements of
Operations
|
Statements of
Changes in Net Assets
|
Financial
Highlights
|
First Trust Dow Jones Select MicroCap
Index Fund
|
For the year ended
December 31, 2023
|
For the years ended
December 31, 2023 and
2022
|
For the years ended December 31,
2023, 2022, 2021, 2020, and 2019
|
First Trust Morningstar Dividend Leaders
Index Fund
|
|||
First Trust US Equity Opportunities ETF
|
|||
First Trust NYSE® Arca® Biotechnology
Index Fund
|
|||
First Trust Dow Jones Internet Index Fund
|
|||
First Trust Capital Strength ETF Fund
|
|||
First Trust Value Line® Dividend Index
Fund
|
|||
First Trust Growth Strength ETF
|
For the year ended
December 31, 2023
|
For the year ended December 31, 2023, and the period from
October 25, 2022 (commencement of investment operations)
through December 31, 2022
|
|
First Trust Indxx Aerospace & Defense
ETF
|
|||
First Trust Bloomberg Inflation Sensitive
Equity ETF
|
For the period from March 13, 2023 (commencement of investment operations) through
December 31, 2023
|
|
Dividends Received
Deduction
|
First Trust Dow Jones Select MicroCap Index Fund
|
88.26
%
|
First Trust Morningstar Dividend Leaders Index Fund
|
100.00
%
|
First Trust US Equity Opportunities ETF
|
100.00
%
|
First Trust NYSE® Arca® Biotechnology Index Fund
|
0.00
%
|
First Trust Dow Jones Internet Index Fund
|
0.00
%
|
First Trust Capital Strength ETF
|
100.00
%
|
First Trust Value Line® Dividend Index Fund
|
100.00
%
|
First Trust Growth Strength ETF
|
100.00
%
|
First Trust Indxx Aerospace & Defense ETF
|
100.00
%
|
First Trust Bloomberg Inflation Sensitive Equity ETF
|
92.80
%
|
|
Qualified Dividend
Income
|
First Trust Dow Jones Select MicroCap Index Fund
|
88.26
%
|
First Trust Morningstar Dividend Leaders Index Fund
|
100.00
%
|
First Trust US Equity Opportunities ETF
|
100.00
%
|
First Trust NYSE® Arca® Biotechnology Index Fund
|
0.00
%
|
First Trust Dow Jones Internet Index Fund
|
0.00
%
|
First Trust Capital Strength ETF
|
100.00
%
|
First Trust Value Line® Dividend Index Fund
|
100.00
%
|
First Trust Growth Strength ETF
|
100.00
%
|
First Trust Indxx Aerospace & Defense ETF
|
100.00
%
|
First Trust Bloomberg Inflation Sensitive Equity ETF
|
100.00
%
|
Name,
Year of Birth and
Position with the Trust
|
Term of Office
and Year First
Elected or
Appointed
|
Principal Occupations
During Past 5 Years
|
Number of
Portfolios in
the First Trust
Fund Complex
Overseen by
Trustee
|
Other
Trusteeships or
Directorships
Held by Trustee
During Past
5 Years
|
INDEPENDENT TRUSTEES
|
||||
Richard E. Erickson, Trustee
(1951)
|
• Indefinite Term
• Since Inception
|
Retired; Physician, Edward-Elmhurst
Medical Group (2021 to September
2023); Physician and Officer,
Wheaton Orthopedics (1990 to 2021)
|
257
|
None
|
Thomas R. Kadlec, Trustee
(1957)
|
• Indefinite Term
• Since Inception
|
Retired; President, ADM Investors
Services, Inc. (Futures Commission
Merchant) (2010 to July 2022)
|
257
|
Director, National Futures
Association and ADMIS
Singapore Ltd.; Formerly,
Director of ADM Investor
Services, Inc., ADM Investor
Services International,
ADMIS Hong Kong Ltd., and
Futures Industry Association
|
Denise M. Keefe, Trustee
(1964)
|
• Indefinite Term
• Since 2021
|
Executive Vice President, Advocate
Aurora Health and President,
Advocate Aurora Continuing Health
Division (Integrated Healthcare
System)
|
257
|
Director and Board Chair of
Advocate Home Health
Services, Advocate Home
Care Products and Advocate
Hospice; Director and Board
Chair of Aurora At Home
(since 2018); Director of
Advocate Physician Partners
Accountable Care
Organization; Director of
RML Long Term Acute Care
Hospitals; Director of Senior
Helpers (since 2021); and
Director of MobileHelp
(since 2022)
|
Robert F. Keith, Trustee
(1956)
|
• Indefinite Term
• Since Inception
|
President, Hibs Enterprises (Financial
and Management Consulting)
|
257
|
Formerly, Director of Trust
Company of Illinois
|
Niel B. Nielson, Trustee
(1954)
|
• Indefinite Term
• Since Inception
|
Senior Advisor (2018 to Present),
Managing Director and Chief
Operating Officer (2015 to 2018),
Pelita Harapan Educational
Foundation (Educational Products
and Services)
|
257
|
None
|
|
||||
INTERESTED TRUSTEE
|
||||
James A. Bowen(1), Trustee,
Chairman of the Board
(1955)
|
• Indefinite Term
• Since Inception
|
Chief Executive Officer, First Trust
Advisors L.P. and First Trust
Portfolios L.P., Chairman of the
Board of Directors, BondWave LLC
(Software Development Company)
and Stonebridge Advisors LLC
(Investment Advisor)
|
257
|
None
|
Name and
Year of Birth
|
Position
and Offices
with Trust
|
Term of
Year First Elected or
Appointed
|
Principal Occupations
During Past 5 Years
|
ADVISORY BOARD OF THE TRUST
|
|||
Bronwyn Wright
(1971)
|
Advisory Board Member
|
• Indefinite term
• Since 2023
|
Independent Director to a number of Irish collective investment
funds (2009 to Present); Various roles at international affiliates of
Citibank (1994 to 2009), including Managing Director, Citibank
Europe plc and Head of Securities and Fund Services, Citi Ireland
(2007 to 2009)
|
Name and
Year of Birth
|
Position and
Offices
with Trust
|
Term of Office
and Length of
Service
|
Principal Occupations
During Past 5 Years
|
OFFICERS(2)
|
|||
James M. Dykas
(1966)
|
President and Chief
Executive Officer
|
• Indefinite Term
• Since 2016
|
Managing Director and Chief Financial Officer, First Trust
Advisors L.P. and First Trust Portfolios L.P.; Chief Financial
Officer, BondWave LLC (Software Development Company) and
Stonebridge Advisors LLC (Investment Advisor)
|
Derek D. Maltbie
(1972)
|
Treasurer, Chief Financial
Officer and Chief
Accounting Officer
|
• Indefinite Term
• Since 2023
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P., July 2021 to Present. Previously, Vice President,
First Trust Advisors L.P. and First Trust Portfolios L.P., 2014 -
2021.
|
W. Scott Jardine
(1960)
|
Secretary and Chief Legal
Officer
|
• Indefinite Term
• Since Inception
|
General Counsel, First Trust Advisors L.P. and First Trust
Portfolios L.P.; Secretary and General Counsel, BondWave LLC;
Secretary, Stonebridge Advisors LLC
|
Daniel J. Lindquist
(1970)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Managing Director, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
Kristi A. Maher
(1966)
|
Chief Compliance Officer
and Assistant Secretary
|
• Indefinite Term
• Chief Compliance
Officer Since
January 2011
• Assistant Secretary
Since Inception
|
Deputy General Counsel, First Trust Advisors L.P. and First
Trust Portfolios L.P.
|
Roger F. Testin
(1966)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
Stan Ueland
(1970)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
Annual Report
|
For the Year Ended
December 31, 2023
|
First Trust NASDAQ-100 Equal Weighted Index Fund
(QQEW)
|
First Trust NASDAQ-100-Technology Sector Index Fund
(QTEC)
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund
(QQXT)
|
First Trust NASDAQ® Clean Edge® Green Energy Index Fund
(QCLN)
|
First Trust S&P REIT Index Fund (FRI)
|
First Trust Water ETF (FIW)
|
First Trust Natural Gas ETF (FCG)
|
First Trust NASDAQ® ABA Community Bank Index Fund
(QABA)
|
2
|
|
3
|
|
4
|
|
6
|
|
8
|
|
10
|
|
12
|
|
14
|
|
16
|
|
18
|
|
20
|
|
21
|
|
23
|
|
26
|
|
28
|
|
31
|
|
33
|
|
36
|
|
38
|
|
40
|
|
44
|
|
46
|
|
48
|
|
51
|
|
59
|
|
69
|
|
70
|
|
75
|
|
77
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(4/19/06)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(4/19/06)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
33.51%
|
17.17%
|
13.15%
|
11.09%
|
120.85%
|
243.97%
|
543.38%
|
Market Price
|
33.53%
|
17.18%
|
13.15%
|
11.09%
|
120.95%
|
243.96%
|
543.54%
|
Index Performance
|
|
|
|
|
|
|
|
Nasdaq-100 Equal WeightedTM Index
|
34.01%
|
17.80%
|
13.80%
|
11.75%
|
126.88%
|
264.17%
|
614.98%
|
S&P 500® Index
|
26.29%
|
15.69%
|
12.03%
|
9.74%
|
107.21%
|
211.49%
|
418.51%
|
Nasdaq-100 Index®
|
55.13%
|
22.66%
|
17.91%
|
14.78%
|
177.68%
|
419.34%
|
1,047.84%
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Information Technology
|
37.9%
|
Health Care
|
12.3
|
Consumer Discretionary
|
11.8
|
Communication Services
|
10.9
|
Industrials
|
10.0
|
Consumer Staples
|
9.2
|
Utilities
|
3.9
|
Energy
|
2.0
|
Financials
|
1.0
|
Real Estate
|
1.0
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
ANSYS, Inc.
|
1.2%
|
Moderna, Inc.
|
1.1
|
Illumina, Inc.
|
1.1
|
Intel Corp.
|
1.1
|
Dollar Tree, Inc.
|
1.1
|
Cintas Corp.
|
1.1
|
Advanced Micro Devices, Inc.
|
1.0
|
Meta Platforms, Inc., Class A
|
1.0
|
Micron Technology, Inc.
|
1.0
|
Monster Beverage Corp.
|
1.0
|
Total
|
10.7%
|
|
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.
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(4/19/06)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(4/19/06)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
66.89%
|
21.30%
|
18.20%
|
13.67%
|
162.62%
|
432.13%
|
865.80%
|
Market Price
|
66.93%
|
21.30%
|
18.19%
|
13.67%
|
162.56%
|
431.71%
|
865.83%
|
Index Performance
|
|
|
|
|
|
|
|
Nasdaq-100 Technology SectorTM Index
|
67.85%
|
22.03%
|
18.92%
|
14.38%
|
170.61%
|
465.78%
|
977.82%
|
S&P 500® Index
|
26.29%
|
15.69%
|
12.03%
|
9.74%
|
107.21%
|
211.49%
|
418.51%
|
S&P 500® Information Technology Index
|
57.84%
|
26.95%
|
20.79%
|
15.13%
|
229.73%
|
561.19%
|
1,111.57%
|
Sector Allocation(1)
|
% of Total
Long-Term
Investments
|
Information Technology
|
90.2%
|
Communication Services
|
5.1
|
Consumer Discretionary
|
4.7
|
Total
|
100.0%
|
(1)
|
The above sector classification is based on Standard & Poor’s
Global Industry Classification Standard (“GICS”) and is different
than the industry sector classification system used by the Index to
select securities, which is the Industry Classification Benchmark
(“ICB”) system, the joint classification system of Dow Jones
Indexes and FTSE Group.
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
ANSYS, Inc.
|
3.0%
|
Intel Corp.
|
2.6
|
Advanced Micro Devices, Inc.
|
2.6
|
Meta Platforms, Inc., Class A
|
2.5
|
Micron Technology, Inc.
|
2.5
|
Atlassian Corp., Class A
|
2.5
|
GLOBALFOUNDRIES, Inc.
|
2.5
|
Intuit, Inc.
|
2.5
|
Adobe, Inc.
|
2.5
|
CDW Corp.
|
2.5
|
Total
|
25.7%
|
|
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.
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(2/8/07)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(2/8/07)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
16.77%
|
14.79%
|
10.36%
|
9.74%
|
99.29%
|
167.94%
|
380.75%
|
Market Price
|
16.76%
|
14.80%
|
10.36%
|
9.74%
|
99.40%
|
168.09%
|
381.02%
|
Index Performance
|
|
|
|
|
|
|
|
Nasdaq-100 Ex-Tech SectorTM Index
|
17.08%
|
15.38%
|
10.96%
|
10.38%
|
104.46%
|
182.97%
|
430.64%
|
Russell 1000® Index
|
26.53%
|
15.52%
|
11.80%
|
9.44%
|
105.72%
|
205.22%
|
359.33%
|
Russell 3000® Index
|
25.96%
|
15.16%
|
11.48%
|
9.27%
|
102.54%
|
196.41%
|
347.37%
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Health Care
|
20.9%
|
Industrials
|
16.9
|
Consumer Discretionary
|
16.7
|
Consumer Staples
|
15.5
|
Communication Services
|
14.9
|
Utilities
|
6.6
|
Energy
|
3.4
|
Information Technology
|
1.7
|
Financials
|
1.7
|
Real Estate
|
1.7
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Moderna, Inc.
|
1.9%
|
Illumina, Inc.
|
1.8
|
Dollar Tree, Inc.
|
1.8
|
Cintas Corp.
|
1.8
|
Monster Beverage Corp.
|
1.7
|
Amgen, Inc.
|
1.7
|
Biogen, Inc.
|
1.7
|
AstraZeneca PLC, ADR
|
1.7
|
Lululemon Athletica, Inc.
|
1.7
|
Intuitive Surgical, Inc.
|
1.7
|
Total
|
17.5%
|
|
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.
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(2/8/07)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(2/8/07)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
-9.98%
|
19.69%
|
9.69%
|
5.05%
|
145.63%
|
152.20%
|
129.80%
|
Market Price
|
-9.94%
|
19.74%
|
9.69%
|
5.05%
|
146.19%
|
152.20%
|
129.83%
|
Index Performance
|
|
|
|
|
|
|
|
Nasdaq® Clean Edge® Green EnergyTM
Index
|
-9.91%
|
20.01%
|
9.82%
|
5.27%
|
148.97%
|
155.10%
|
137.96%
|
Russell 2000® Index
|
16.93%
|
9.97%
|
7.16%
|
6.99%
|
60.85%
|
99.59%
|
213.10%
|
Russell 3000® Index
|
25.96%
|
15.16%
|
11.48%
|
9.27%
|
102.54%
|
196.41%
|
347.37%
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Information Technology
|
37.3%
|
Consumer Discretionary
|
20.4
|
Industrials
|
19.5
|
Utilities
|
11.2
|
Materials
|
9.8
|
Financials
|
1.3
|
Energy
|
0.5
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Rivian Automotive, Inc., Class A
|
9.1%
|
ON Semiconductor Corp.
|
8.1
|
First Solar, Inc.
|
7.5
|
Tesla, Inc.
|
7.2
|
Albemarle Corp.
|
6.9
|
Enphase Energy, Inc.
|
4.5
|
Universal Display Corp.
|
3.9
|
Lucid Group, Inc.
|
3.4
|
Brookfield Renewable Partners, L.P.
|
3.3
|
Acuity Brands, Inc.
|
2.7
|
Total
|
56.6%
|
|
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.
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(5/8/07)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(5/8/07)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
13.10%
|
6.66%
|
6.95%
|
4.38%
|
38.06%
|
95.82%
|
104.27%
|
Market Price
|
13.15%
|
6.66%
|
6.95%
|
4.38%
|
38.06%
|
95.83%
|
104.29%
|
Index Performance
|
|
|
|
|
|
|
|
S&P United States REIT Index(1)
|
13.77%
|
7.22%
|
7.50%
|
N/A
|
41.67%
|
106.07%
|
N/A
|
FTSE EPRA/NAREIT North America
Index
|
13.03%
|
6.36%
|
6.80%
|
4.47%
|
36.14%
|
93.11%
|
107.15%
|
Russell 3000® Index
|
25.96%
|
15.16%
|
11.48%
|
9.15%
|
102.54%
|
196.41%
|
329.45%
|
(1)
|
On November 6, 2008, the Fund’s underlying index changed from the S&P REIT Composite Index to the S&P United States REIT Index.
Effective December 31, 2008, the S&P REIT Composite Index was discontinued. Therefore, the Fund’s performance and historical returns shown
for the periods prior to November 6, 2008 are not necessarily indicative of the performance that the Fund, based on its current
Index, would have
generated. The inception date of the Index was June 30, 2008. Returns for the Index are only disclosed for those periods in
which the Index was
in existence for the whole period.
|
REIT Allocation
|
% of Total
Long-Term
Investments
|
Retail REITs
|
16.7%
|
Industrial REITs
|
16.6
|
Data Center REITs
|
10.9
|
Multi-Family Residential REITs
|
10.8
|
Health Care REITs
|
10.6
|
Self-Storage REITs
|
9.0
|
Other Specialized REITs
|
7.1
|
Office REITs
|
6.0
|
Single-Family Residential REITs
|
5.8
|
Hotel & Resort REITs
|
3.7
|
Diversified REITs
|
2.8
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Prologis, Inc.
|
11.5%
|
Equinix, Inc.
|
7.1
|
Welltower, Inc.
|
4.7
|
Public Storage
|
4.5
|
Simon Property Group, Inc.
|
4.4
|
Realty Income Corp.
|
3.9
|
Digital Realty Trust, Inc.
|
3.8
|
Extra Space Storage, Inc.
|
3.2
|
VICI Properties, Inc.
|
3.1
|
AvalonBay Communities, Inc.
|
2.5
|
Total
|
48.7%
|
|
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.
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(5/8/07)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(5/8/07)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
20.39%
|
17.35%
|
11.67%
|
10.63%
|
122.57%
|
201.51%
|
437.56%
|
Market Price
|
20.44%
|
17.37%
|
11.66%
|
10.63%
|
122.69%
|
201.27%
|
437.59%
|
Index Performance
|
|
|
|
|
|
|
|
ISE Clean Edge WaterTM Index
|
21.10%
|
18.20%
|
12.35%
|
11.34%
|
130.75%
|
220.50%
|
498.23%
|
Russell 3000® Index
|
25.96%
|
15.16%
|
11.48%
|
9.15%
|
102.54%
|
196.41%
|
329.45%
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Industrials
|
52.6%
|
Utilities
|
18.1
|
Health Care
|
16.1
|
Information Technology
|
7.9
|
Materials
|
4.1
|
Consumer Staples
|
1.2
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Ferguson PLC
|
4.5%
|
Waters Corp.
|
4.4
|
Agilent Technologies, Inc.
|
4.3
|
Xylem, Inc.
|
4.2
|
Roper Technologies, Inc.
|
4.1
|
IDEXX Laboratories, Inc.
|
4.1
|
Ecolab, Inc.
|
4.1
|
A.O. Smith Corp.
|
3.7
|
Cia de Saneamento Basico do Estado de Sao
Paulo, ADR
|
3.7
|
Advanced Drainage Systems, Inc.
|
3.6
|
Total
|
40.7%
|
|
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.
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(5/8/07)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(5/8/07)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
2.55%
|
14.16%
|
-10.85%
|
-6.63%
|
93.85%
|
-68.30%
|
-68.07%
|
Market Price
|
2.47%
|
14.14%
|
-10.85%
|
-6.63%
|
93.71%
|
-68.30%
|
-68.09%
|
Index Performance
|
|
|
|
|
|
|
|
ISE-Revere Natural GasTM Index
|
3.23%
|
13.77%
|
-11.01%
|
-6.48%
|
90.64%
|
-68.86%
|
-67.21%
|
S&P Composite 1500® Energy Index
|
-0.63%
|
12.96%
|
2.74%
|
4.14%
|
83.94%
|
31.02%
|
96.59%
|
Russell 3000® Index
|
25.96%
|
15.16%
|
11.48%
|
9.15%
|
102.54%
|
196.41%
|
329.45%
|
Sub-Industry Allocation
|
% of Total
Long-Term
Investments
|
Oil & Gas Exploration & Production
|
85.5%
|
Oil & Gas Storage & Transportation
|
8.9
|
Integrated Oil & Gas
|
3.7
|
Gas Utilities
|
1.9
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Western Midstream Partners, L.P.
|
4.5%
|
Hess Midstream, L.P., Class A
|
4.4
|
ConocoPhillips
|
3.8
|
Occidental Petroleum Corp.
|
3.6
|
Pioneer Natural Resources Co.
|
3.6
|
Hess Corp.
|
3.5
|
EOG Resources, Inc.
|
3.5
|
Devon Energy Corp.
|
3.4
|
Diamondback Energy, Inc.
|
3.3
|
EQT Corp.
|
3.1
|
Total
|
36.7%
|
|
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.
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(6/29/09)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(6/29/09)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
-2.44%
|
5.47%
|
5.31%
|
8.44%
|
30.53%
|
67.78%
|
223.77%
|
Market Price
|
-2.42%
|
5.49%
|
5.29%
|
8.44%
|
30.64%
|
67.39%
|
223.94%
|
Index Performance
|
|
|
|
|
|
|
|
Nasdaq OMX® ABA Community BankTM
Index
|
-1.92%
|
6.14%
|
5.96%
|
9.12%
|
34.69%
|
78.48%
|
254.75%
|
S&P Composite 1500® Financials Index
|
11.66%
|
11.68%
|
9.98%
|
11.96%
|
73.76%
|
158.99%
|
414.84%
|
Russell 3000® Index
|
25.96%
|
15.16%
|
11.48%
|
13.96%
|
102.54%
|
196.41%
|
565.47%
|
Industry Allocation
|
% of Total
Long-Term
Investments
|
Banks
|
98.3%
|
Financial Services
|
1.7
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Commerce Bancshares, Inc.
|
3.9%
|
Wintrust Financial Corp.
|
3.2
|
Bank OZK
|
3.2
|
United Bankshares, Inc.
|
2.8
|
First Financial Bankshares, Inc.
|
2.4
|
Hancock Whitney Corp.
|
2.4
|
TFS Financial Corp.
|
2.3
|
UMB Financial Corp.
|
2.3
|
Ameris Bancorp
|
2.1
|
United Community Banks, Inc.
|
2.0
|
Total
|
26.6%
|
|
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.
|
|
Beginning
Account Value
July 1, 2023
|
Ending
Account Value
December 31, 2023
|
Annualized
Expense Ratio
Based on the
Six-Month
Period (a)
|
Expenses Paid
During the
Six-Month
Period (b)
|
First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW)
|
||||
Actual
|
$1,000.00
|
$1,104.00
|
0.57%
|
$3.02
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.33
|
0.57%
|
$2.91
|
First Trust NASDAQ-100-Technology Sector Index Fund (QTEC)
|
||||
Actual
|
$1,000.00
|
$1,191.90
|
0.56%
|
$3.09
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.38
|
0.56%
|
$2.85
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund (QQXT)
|
||||
Actual
|
$1,000.00
|
$1,053.00
|
0.60%
|
$3.10
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.18
|
0.60%
|
$3.06
|
First Trust NASDAQ® Clean Edge® Green Energy Index Fund (QCLN)
|
||||
Actual
|
$1,000.00
|
$825.60
|
0.59%
|
$2.71
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.23
|
0.59%
|
$3.01
|
First Trust S&P REIT Index Fund (FRI)
|
||||
Actual
|
$1,000.00
|
$1,076.40
|
0.50%
|
$2.62
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.68
|
0.50%
|
$2.55
|
First Trust Water ETF (FIW)
|
||||
Actual
|
$1,000.00
|
$1,075.60
|
0.53%
|
$2.77
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.53
|
0.53%
|
$2.70
|
|
Beginning
Account Value
July 1, 2023
|
Ending
Account Value
December 31, 2023
|
Annualized
Expense Ratio
Based on the
Six-Month
Period (a)
|
Expenses Paid
During the
Six-Month
Period (b)
|
First Trust Natural Gas ETF (FCG)
|
||||
Actual
|
$1,000.00
|
$1,059.70
|
0.60%
|
$3.11
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.18
|
0.60%
|
$3.06
|
First Trust NASDAQ® ABA Community Bank Index Fund (QABA)
|
||||
Actual
|
$1,000.00
|
$1,282.10
|
0.60%
|
$3.45
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.18
|
0.60%
|
$3.06
|
(a)
|
These expense ratios reflect expense caps for certain Funds. See Note 3 in the Notes to Financial Statements.
|
(b)
|
Expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value over
the period (July 1, 2023
through December 31, 2023), multiplied by 184/365 (to reflect the six-month period).
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.9%
|
|||||
|
Automobiles — 1.0%
|
|
|||
87,914
|
Tesla, Inc. (a)
|
$21,844,871
|
|||
|
Beverages — 4.1%
|
|
|||
344,509
|
Coca-Cola Europacific
Partners PLC
|
22,992,531
|
|||
697,100
|
Keurig Dr Pepper, Inc.
|
23,227,372
|
|||
404,543
|
Monster Beverage Corp. (a)
|
23,305,722
|
|||
133,451
|
PepsiCo, Inc.
|
22,665,318
|
|||
|
|
92,190,943
|
|||
|
Biotechnology — 6.2%
|
|
|||
80,908
|
Amgen, Inc.
|
23,303,122
|
|||
89,817
|
Biogen, Inc. (a)
|
23,241,945
|
|||
277,434
|
Gilead Sciences, Inc.
|
22,474,928
|
|||
259,113
|
Moderna, Inc. (a)
|
25,768,788
|
|||
25,940
|
Regeneron Pharmaceuticals,
Inc. (a)
|
22,782,843
|
|||
54,267
|
Vertex Pharmaceuticals, Inc. (a)
|
22,080,700
|
|||
|
|
139,652,326
|
|||
|
Broadline Retail — 2.9%
|
|
|||
148,605
|
Amazon.com, Inc. (a)
|
22,579,044
|
|||
13,875
|
MercadoLibre, Inc. (a)
|
21,805,117
|
|||
150,228
|
PDD Holdings, Inc., ADR (a)
|
21,979,859
|
|||
|
|
66,364,020
|
|||
|
Commercial Services &
Supplies — 2.1%
|
|
|||
39,889
|
Cintas Corp.
|
24,039,505
|
|||
455,659
|
Copart, Inc. (a)
|
22,327,291
|
|||
|
|
46,366,796
|
|||
|
Communications Equipment
— 1.0%
|
|
|||
446,888
|
Cisco Systems, Inc.
|
22,576,782
|
|||
|
Consumer Staples Distribution
& Retail — 3.1%
|
|
|||
34,597
|
Costco Wholesale Corp.
|
22,836,788
|
|||
170,372
|
Dollar Tree, Inc. (a)
|
24,201,343
|
|||
884,376
|
Walgreens Boots Alliance, Inc.
|
23,091,057
|
|||
|
|
70,129,188
|
|||
|
Electric Utilities — 3.9%
|
|
|||
271,024
|
American Electric Power Co.,
Inc.
|
22,012,569
|
|||
187,673
|
Constellation Energy Corp.
|
21,937,097
|
|||
627,959
|
Exelon Corp.
|
22,543,728
|
|||
361,908
|
Xcel Energy, Inc.
|
22,405,725
|
|||
|
|
88,899,119
|
|||
|
Electronic Equipment,
Instruments & Components
— 1.0%
|
|
|||
99,835
|
CDW Corp.
|
22,694,492
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Energy Equipment & Services
— 1.0%
|
|
|||
663,677
|
Baker Hughes Co.
|
$22,684,480
|
|||
|
Entertainment — 3.9%
|
|
|||
160,529
|
Electronic Arts, Inc.
|
21,961,972
|
|||
47,211
|
Netflix, Inc. (a)
|
22,986,092
|
|||
139,115
|
Take-Two Interactive Software,
Inc. (a)
|
22,390,559
|
|||
1,817,804
|
Warner Bros. Discovery, Inc. (a)
|
20,686,610
|
|||
|
|
88,025,233
|
|||
|
Financial Services — 1.0%
|
|
|||
363,798
|
PayPal Holdings, Inc. (a)
|
22,340,835
|
|||
|
Food Products — 2.0%
|
|
|||
609,081
|
Kraft Heinz (The) Co.
|
22,523,815
|
|||
315,223
|
Mondelez International, Inc.,
Class A
|
22,831,602
|
|||
|
|
45,355,417
|
|||
|
Ground Transportation —
2.0%
|
|
|||
655,479
|
CSX Corp.
|
22,725,457
|
|||
56,701
|
Old Dominion Freight Line, Inc.
|
22,982,616
|
|||
|
|
45,708,073
|
|||
|
Health Care Equipment &
Supplies — 4.0%
|
|
|||
181,795
|
Dexcom, Inc. (a)
|
22,558,942
|
|||
297,111
|
GE HealthCare Technologies,
Inc.
|
22,972,622
|
|||
41,189
|
IDEXX Laboratories, Inc. (a)
|
22,861,954
|
|||
68,710
|
Intuitive Surgical, Inc. (a)
|
23,180,006
|
|||
|
|
91,573,524
|
|||
|
Hotels, Restaurants & Leisure
— 4.9%
|
|
|||
152,021
|
Airbnb, Inc., Class A (a)
|
20,696,139
|
|||
6,406
|
Booking Holdings, Inc. (a)
|
22,723,491
|
|||
219,418
|
DoorDash, Inc., Class A (a)
|
21,698,246
|
|||
100,779
|
Marriott International, Inc.,
Class A
|
22,726,672
|
|||
230,349
|
Starbucks Corp.
|
22,115,808
|
|||
|
|
109,960,356
|
|||
|
Industrial Conglomerates —
1.0%
|
|
|||
109,569
|
Honeywell International, Inc.
|
22,977,715
|
|||
|
Interactive Media & Services
— 2.1%
|
|
|||
84,035
|
Alphabet, Inc., Class A (a)
|
11,738,849
|
|||
83,257
|
Alphabet, Inc., Class C (a)
|
11,733,409
|
|||
66,542
|
Meta Platforms, Inc., Class A (a)
|
23,553,206
|
|||
|
|
47,025,464
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
IT Services — 1.9%
|
|
|||
292,586
|
Cognizant Technology Solutions
Corp., Class A
|
$22,099,020
|
|||
53,041
|
MongoDB, Inc. (a)
|
21,685,813
|
|||
|
|
43,784,833
|
|||
|
Life Sciences Tools & Services
— 1.1%
|
|
|||
175,344
|
Illumina, Inc. (a)
|
24,414,898
|
|||
|
Machinery — 1.0%
|
|
|||
231,545
|
PACCAR, Inc.
|
22,610,369
|
|||
|
Media — 3.9%
|
|
|||
58,658
|
Charter Communications, Inc.,
Class A (a)
|
22,799,191
|
|||
501,040
|
Comcast Corp., Class A
|
21,970,604
|
|||
4,127,087
|
Sirius XM Holdings, Inc. (b)
|
22,575,166
|
|||
297,587
|
Trade Desk (The), Inc.,
Class A (a)
|
21,414,361
|
|||
|
|
88,759,322
|
|||
|
Oil, Gas & Consumable Fuels
— 1.0%
|
|
|||
145,557
|
Diamondback Energy, Inc.
|
22,572,979
|
|||
|
Pharmaceuticals — 1.0%
|
|
|||
343,924
|
AstraZeneca PLC, ADR
|
23,163,281
|
|||
|
Professional Services — 2.9%
|
|
|||
95,183
|
Automatic Data Processing, Inc.
|
22,174,784
|
|||
175,703
|
Paychex, Inc.
|
20,927,984
|
|||
94,835
|
Verisk Analytics, Inc.
|
22,652,288
|
|||
|
|
65,755,056
|
|||
|
Real Estate Management &
Development — 1.0%
|
|
|||
254,497
|
CoStar Group, Inc. (a)
|
22,240,493
|
|||
|
Semiconductors &
Semiconductor Equipment
— 16.9%
|
|
|||
160,160
|
Advanced Micro Devices,
Inc. (a)
|
23,609,186
|
|||
110,943
|
Analog Devices, Inc.
|
22,028,842
|
|||
137,612
|
Applied Materials, Inc.
|
22,302,777
|
|||
29,598
|
ASML Holding N.V.
|
22,403,318
|
|||
19,727
|
Broadcom, Inc.
|
22,020,264
|
|||
379,340
|
GLOBALFOUNDRIES,
Inc. (a) (b)
|
22,988,004
|
|||
482,805
|
Intel Corp.
|
24,260,951
|
|||
38,088
|
KLA Corp.
|
22,140,554
|
|||
28,812
|
Lam Research Corp.
|
22,567,287
|
|||
373,993
|
Marvell Technology, Inc.
|
22,555,518
|
|||
241,717
|
Microchip Technology, Inc.
|
21,798,039
|
|||
273,753
|
Micron Technology, Inc.
|
23,362,081
|
|||
45,584
|
NVIDIA Corp.
|
22,574,108
|
|||
95,679
|
NXP Semiconductors N.V.
|
21,975,553
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Semiconductors &
Semiconductor Equipment
(Continued)
|
|
|||
260,202
|
ON Semiconductor Corp. (a)
|
$21,734,673
|
|||
155,706
|
QUALCOMM, Inc.
|
22,519,759
|
|||
132,153
|
Texas Instruments, Inc.
|
22,526,800
|
|||
|
|
383,367,714
|
|||
|
Software — 16.0%
|
|
|||
38,117
|
Adobe, Inc. (a)
|
22,740,602
|
|||
75,427
|
ANSYS, Inc. (a)
|
27,370,950
|
|||
97,082
|
Atlassian Corp., Class A (a)
|
23,091,925
|
|||
91,982
|
Autodesk, Inc. (a)
|
22,395,777
|
|||
82,079
|
Cadence Design Systems,
Inc. (a)
|
22,355,857
|
|||
85,690
|
Crowdstrike Holdings, Inc.,
Class A (a)
|
21,878,371
|
|||
181,780
|
Datadog, Inc., Class A (a)
|
22,064,456
|
|||
385,375
|
Fortinet, Inc. (a)
|
22,555,999
|
|||
36,624
|
Intuit, Inc.
|
22,891,099
|
|||
60,114
|
Microsoft Corp.
|
22,605,269
|
|||
72,522
|
Palo Alto Networks, Inc. (a)
|
21,385,287
|
|||
41,153
|
Roper Technologies, Inc.
|
22,435,381
|
|||
146,082
|
Splunk, Inc. (a)
|
22,255,593
|
|||
40,064
|
Synopsys, Inc. (a)
|
20,629,354
|
|||
81,724
|
Workday, Inc., Class A (a)
|
22,560,727
|
|||
100,542
|
Zscaler, Inc. (a)
|
22,276,086
|
|||
|
|
361,492,733
|
|||
|
Specialty Retail — 2.0%
|
|
|||
23,421
|
O’Reilly Automotive, Inc. (a)
|
22,251,824
|
|||
166,390
|
Ross Stores, Inc.
|
23,026,712
|
|||
|
|
45,278,536
|
|||
|
Technology Hardware, Storage
& Peripherals — 1.0%
|
|
|||
112,802
|
Apple, Inc.
|
21,717,769
|
|||
|
Textiles, Apparel & Luxury
Goods — 1.0%
|
|
|||
45,347
|
Lululemon Athletica, Inc. (a)
|
23,185,468
|
|||
|
Trading Companies &
Distributors — 1.0%
|
|
|||
347,354
|
Fastenal Co.
|
22,498,119
|
|||
|
Wireless Telecommunication
Services — 1.0%
|
|
|||
142,724
|
T-Mobile US, Inc.
|
22,882,939
|
|||
|
Total Common Stocks
|
2,260,094,143
|
|||
|
(Cost $1,818,157,791)
|
|
Shares
|
Description
|
Value
|
|||
MONEY MARKET FUNDS — 2.0%
|
|||||
44,551,064
|
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.17% (c) (d)
|
$44,551,064
|
|||
|
(Cost $44,551,064)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 101.9%
|
2,304,645,207
|
|||
|
(Cost $1,862,708,855)
|
|
|||
|
Net Other Assets and
Liabilities — (1.9)%
|
(42,369,262
)
|
|||
|
Net Assets — 100.0%
|
$2,262,275,945
|
(a)
|
Non-income producing security.
|
(b)
|
All or a portion of this security is on loan (see Note 2D -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $43,076,409 and the total value of the collateral
held by the Fund is $44,551,064.
|
(c)
|
Rate shown reflects yield as of December 31, 2023.
|
(d)
|
This security serves as collateral for securities on loan.
|
Abbreviations throughout the Portfolio of Investments:
|
|
ADR
|
– American Depositary Receipt
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common
Stocks*
|
$ 2,260,094,143
|
$ 2,260,094,143
|
$ —
|
$ —
|
Money Market
Funds
|
44,551,064
|
44,551,064
|
—
|
—
|
Total
Investments
|
$2,304,645,207
|
$2,304,645,207
|
$—
|
$—
|
*
|
See Portfolio of Investments for industry breakout.
|
Securities Lending Agency Agreement
|
|
Total gross amount presented on the Statements
of Assets and Liabilities(1)
|
$43,076,409
|
Non-cash Collateral(2)
|
(43,076,409
)
|
Net Amount
|
$—
|
(1)
|
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
|
(2)
|
At December 31, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 100.0%
|
|||||
|
Broadline Retail — 2.4%
|
|
|||
568,101
|
PDD Holdings, Inc., ADR (a)
|
$83,118,857
|
|||
|
Electronic Equipment,
Instruments & Components
— 2.5%
|
|
|||
377,538
|
CDW Corp.
|
85,821,938
|
|||
|
Hotels, Restaurants & Leisure
— 2.3%
|
|
|||
829,751
|
DoorDash, Inc., Class A (a)
|
82,054,076
|
|||
|
Interactive Media & Services
— 5.1%
|
|
|||
317,790
|
Alphabet, Inc., Class A (a)
|
44,392,085
|
|||
314,845
|
Alphabet, Inc., Class C (a)
|
44,371,106
|
|||
251,636
|
Meta Platforms, Inc., Class A (a)
|
89,069,079
|
|||
|
|
177,832,270
|
|||
|
IT Services — 4.7%
|
|
|||
1,106,443
|
Cognizant Technology Solutions
Corp., Class A
|
83,569,640
|
|||
200,580
|
MongoDB, Inc. (a)
|
82,007,133
|
|||
|
|
165,576,773
|
|||
|
Semiconductors &
Semiconductor Equipment
— 41.5%
|
|
|||
605,662
|
Advanced Micro Devices,
Inc. (a)
|
89,280,635
|
|||
419,543
|
Analog Devices, Inc.
|
83,304,458
|
|||
520,395
|
Applied Materials, Inc.
|
84,340,418
|
|||
111,928
|
ASML Holding N.V.
|
84,720,542
|
|||
74,599
|
Broadcom, Inc.
|
83,271,134
|
|||
1,434,515
|
GLOBALFOUNDRIES,
Inc. (a) (b)
|
86,931,609
|
|||
1,825,776
|
Intel Corp.
|
91,745,244
|
|||
144,033
|
KLA Corp.
|
83,726,383
|
|||
108,956
|
Lam Research Corp.
|
85,340,877
|
|||
1,414,295
|
Marvell Technology, Inc.
|
85,296,131
|
|||
914,076
|
Microchip Technology, Inc.
|
82,431,374
|
|||
1,035,226
|
Micron Technology, Inc.
|
88,346,187
|
|||
172,383
|
NVIDIA Corp.
|
85,367,509
|
|||
361,816
|
NXP Semiconductors N.V.
|
83,101,899
|
|||
983,978
|
ON Semiconductor Corp. (a)
|
82,191,682
|
|||
588,821
|
QUALCOMM, Inc.
|
85,161,181
|
|||
499,750
|
Texas Instruments, Inc.
|
85,187,385
|
|||
|
|
1,449,744,648
|
|||
|
Software — 39.1%
|
|
|||
144,143
|
Adobe, Inc. (a)
|
85,995,714
|
|||
285,233
|
ANSYS, Inc. (a)
|
103,505,351
|
|||
367,127
|
Atlassian Corp., Class A (a)
|
87,324,828
|
|||
347,839
|
Autodesk, Inc. (a)
|
84,691,840
|
|||
310,393
|
Cadence Design Systems,
Inc. (a)
|
84,541,741
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Software (Continued)
|
|
|||
324,045
|
Crowdstrike Holdings, Inc.,
Class A (a)
|
$82,735,169
|
|||
687,421
|
Datadog, Inc., Class A (a)
|
83,439,161
|
|||
1,457,337
|
Fortinet, Inc. (a)
|
85,297,935
|
|||
138,499
|
Intuit, Inc.
|
86,566,030
|
|||
227,329
|
Microsoft Corp.
|
85,484,797
|
|||
274,252
|
Palo Alto Networks, Inc. (a)
|
80,871,430
|
|||
155,623
|
Roper Technologies, Inc.
|
84,840,991
|
|||
552,424
|
Splunk, Inc. (a)
|
84,161,796
|
|||
151,506
|
Synopsys, Inc. (a)
|
78,011,955
|
|||
309,050
|
Workday, Inc., Class A (a)
|
85,316,343
|
|||
380,211
|
Zscaler, Inc. (a)
|
84,239,549
|
|||
|
|
1,367,024,630
|
|||
|
Technology Hardware, Storage
& Peripherals — 2.4%
|
|
|||
426,572
|
Apple, Inc.
|
82,127,907
|
|||
|
Total Common Stocks
|
3,493,301,099
|
|||
|
(Cost $2,816,546,055)
|
|
|||
MONEY MARKET FUNDS — 2.4%
|
|||||
84,859,021
|
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.17% (c) (d)
|
84,859,021
|
|||
|
(Cost $84,859,021)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 102.4%
|
3,578,160,120
|
|||
|
(Cost $2,901,405,076)
|
|
|||
|
Net Other Assets and
Liabilities — (2.4)%
|
(84,918,949
)
|
|||
|
Net Assets — 100.0%
|
$3,493,241,171
|
(a)
|
Non-income producing security.
|
(b)
|
All or a portion of this security is on loan (see Note 2D -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $81,951,500 and the total value of the collateral
held by the Fund is $84,859,021.
|
(c)
|
Rate shown reflects yield as of December 31, 2023.
|
(d)
|
This security serves as collateral for securities on loan.
|
Abbreviations throughout the Portfolio of Investments:
|
|
ADR
|
– American Depositary Receipt
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common
Stocks*
|
$ 3,493,301,099
|
$ 3,493,301,099
|
$ —
|
$ —
|
Money Market
Funds
|
84,859,021
|
84,859,021
|
—
|
—
|
Total
Investments
|
$3,578,160,120
|
$3,578,160,120
|
$—
|
$—
|
*
|
See Portfolio of Investments for industry breakout.
|
Securities Lending Agency Agreement
|
|
Total gross amount presented on the Statements
of Assets and Liabilities(1)
|
$81,951,500
|
Non-cash Collateral(2)
|
(81,951,500
)
|
Net Amount
|
$—
|
(1)
|
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
|
(2)
|
At December 31, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (a) — 99.9%
|
|||||
|
Automobiles — 1.6%
|
|
|||
11,591
|
Tesla, Inc. (b)
|
$2,880,132
|
|||
|
Beverages — 6.9%
|
|
|||
45,423
|
Coca-Cola Europacific
Partners PLC
|
3,031,531
|
|||
91,580
|
Keurig Dr Pepper, Inc.
|
3,051,445
|
|||
53,434
|
Monster Beverage Corp. (b)
|
3,078,333
|
|||
17,602
|
PepsiCo, Inc.
|
2,989,524
|
|||
|
|
12,150,833
|
|||
|
Biotechnology — 10.5%
|
|
|||
10,668
|
Amgen, Inc.
|
3,072,597
|
|||
11,849
|
Biogen, Inc. (b)
|
3,066,166
|
|||
36,580
|
Gilead Sciences, Inc.
|
2,963,346
|
|||
34,094
|
Moderna, Inc. (b)
|
3,390,648
|
|||
3,427
|
Regeneron Pharmaceuticals,
Inc. (b)
|
3,009,900
|
|||
7,155
|
Vertex Pharmaceuticals, Inc. (b)
|
2,911,298
|
|||
|
|
18,413,955
|
|||
|
Broadline Retail — 3.3%
|
|
|||
19,593
|
Amazon.com, Inc. (b)
|
2,976,960
|
|||
1,829
|
MercadoLibre, Inc. (b)
|
2,874,347
|
|||
|
|
5,851,307
|
|||
|
Commercial Services &
Supplies — 3.5%
|
|
|||
5,266
|
Cintas Corp.
|
3,173,608
|
|||
60,078
|
Copart, Inc. (b)
|
2,943,822
|
|||
|
|
6,117,430
|
|||
|
Communications Equipment
— 1.7%
|
|
|||
58,922
|
Cisco Systems, Inc.
|
2,976,739
|
|||
|
Consumer Staples Distribution
& Retail — 5.2%
|
|
|||
4,460
|
Costco Wholesale Corp.
|
2,943,957
|
|||
22,526
|
Dollar Tree, Inc. (b)
|
3,199,818
|
|||
116,605
|
Walgreens Boots Alliance, Inc.
|
3,044,557
|
|||
|
|
9,188,332
|
|||
|
Electric Utilities — 6.6%
|
|
|||
35,794
|
American Electric Power Co.,
Inc.
|
2,907,189
|
|||
24,745
|
Constellation Energy Corp.
|
2,892,443
|
|||
82,332
|
Exelon Corp.
|
2,955,719
|
|||
47,717
|
Xcel Energy, Inc.
|
2,954,159
|
|||
|
|
11,709,510
|
|||
|
Energy Equipment & Services
— 1.7%
|
|
|||
87,506
|
Baker Hughes Co.
|
2,990,955
|
|||
|
Entertainment — 6.6%
|
|
|||
21,168
|
Electronic Arts, Inc.
|
2,895,994
|
|||
6,225
|
Netflix, Inc. (b)
|
3,030,828
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Entertainment (Continued)
|
|
|||
18,268
|
Take-Two Interactive Software,
Inc. (b)
|
$2,940,234
|
|||
238,865
|
Warner Bros. Discovery, Inc. (b)
|
2,718,284
|
|||
|
|
11,585,340
|
|||
|
Financial Services — 1.7%
|
|
|||
47,967
|
PayPal Holdings, Inc. (b)
|
2,945,654
|
|||
|
Food Products — 3.4%
|
|
|||
80,307
|
Kraft Heinz (The) Co.
|
2,969,753
|
|||
41,557
|
Mondelez International, Inc.,
Class A
|
3,009,973
|
|||
|
|
5,979,726
|
|||
|
Ground Transportation —
3.4%
|
|
|||
86,425
|
CSX Corp.
|
2,996,355
|
|||
7,476
|
Old Dominion Freight Line, Inc.
|
3,030,247
|
|||
|
|
6,026,602
|
|||
|
Health Care Equipment &
Supplies — 6.9%
|
|
|||
23,970
|
Dexcom, Inc. (b)
|
2,974,437
|
|||
39,281
|
GE HealthCare Technologies,
Inc.
|
3,037,207
|
|||
5,431
|
IDEXX Laboratories, Inc. (b)
|
3,014,477
|
|||
9,059
|
Intuitive Surgical, Inc. (b)
|
3,056,144
|
|||
|
|
12,082,265
|
|||
|
Hotels, Restaurants & Leisure
— 6.6%
|
|
|||
20,093
|
Airbnb, Inc., Class A (b)
|
2,735,461
|
|||
845
|
Booking Holdings, Inc. (b)
|
2,997,401
|
|||
13,288
|
Marriott International, Inc.,
Class A
|
2,996,577
|
|||
30,374
|
Starbucks Corp.
|
2,916,208
|
|||
|
|
11,645,647
|
|||
|
Industrial Conglomerates —
1.7%
|
|
|||
14,447
|
Honeywell International, Inc.
|
3,029,680
|
|||
|
Life Sciences Tools & Services
— 1.8%
|
|
|||
23,119
|
Illumina, Inc. (b)
|
3,219,090
|
|||
|
Machinery — 1.7%
|
|
|||
30,529
|
PACCAR, Inc.
|
2,981,157
|
|||
|
Media — 6.6%
|
|
|||
7,734
|
Charter Communications, Inc.,
Class A (b)
|
3,006,051
|
|||
66,062
|
Comcast Corp., Class A
|
2,896,819
|
|||
545,000
|
Sirius XM Holdings, Inc. (c)
|
2,981,150
|
|||
39,237
|
Trade Desk (The), Inc.,
Class A (b)
|
2,823,494
|
|||
|
|
11,707,514
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (a) (Continued)
|
|||||
|
Oil, Gas & Consumable Fuels
— 1.7%
|
|
|||
19,192
|
Diamondback Energy, Inc.
|
$2,976,295
|
|||
|
Pharmaceuticals — 1.7%
|
|
|||
45,448
|
AstraZeneca PLC, ADR
|
3,060,923
|
|||
|
Professional Services — 4.9%
|
|
|||
12,567
|
Automatic Data Processing, Inc.
|
2,927,734
|
|||
23,166
|
Paychex, Inc.
|
2,759,302
|
|||
12,504
|
Verisk Analytics, Inc.
|
2,986,706
|
|||
|
|
8,673,742
|
|||
|
Real Estate Management &
Development — 1.7%
|
|
|||
33,555
|
CoStar Group, Inc. (b)
|
2,932,371
|
|||
|
Specialty Retail — 3.4%
|
|
|||
3,088
|
O’Reilly Automotive, Inc. (b)
|
2,933,847
|
|||
21,983
|
Ross Stores, Inc.
|
3,042,227
|
|||
|
|
5,976,074
|
|||
|
Textiles, Apparel & Luxury
Goods — 1.7%
|
|
|||
5,979
|
Lululemon Athletica, Inc. (b)
|
3,057,003
|
|||
|
Trading Companies &
Distributors — 1.7%
|
|
|||
45,799
|
Fastenal Co.
|
2,966,401
|
|||
|
Wireless Telecommunication
Services — 1.7%
|
|
|||
18,818
|
T-Mobile US, Inc.
|
3,017,090
|
|||
|
Total Common Stocks
|
176,141,767
|
|||
|
(Cost $151,373,029)
|
|
|||
MONEY MARKET FUNDS — 1.7%
|
|||||
3,044,764
|
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.17% (d) (e)
|
3,044,764
|
|||
53,353
|
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
5.22% (d)
|
53,353
|
|||
|
Total Money Market Funds
|
3,098,117
|
|||
|
(Cost $3,098,117)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 101.6%
|
179,239,884
|
|||
|
(Cost $154,471,146)
|
|
|||
|
Net Other Assets and
Liabilities — (1.6)%
|
(2,849,731
)
|
|||
|
Net Assets — 100.0%
|
$176,390,153
|
(a)
|
The industry allocation is based on Standard & Poor’s Global
Industry Classification Standard (GICS), and is different than
the industry sector classification system used by the Index to
select securities, which is the Industry Classification
Benchmark (ICB) system, which is maintained by FTSE
International Limited.
|
(b)
|
Non-income producing security.
|
(c)
|
All or a portion of this security is on loan (see Note 2D -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $2,946,010 and the total value of the collateral
held by the Fund is $3,044,764.
|
(d)
|
Rate shown reflects yield as of December 31, 2023.
|
(e)
|
This security serves as collateral for securities on loan.
|
Abbreviations throughout the Portfolio of Investments:
|
|
ADR
|
– American Depositary Receipt
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common Stocks*
|
$ 176,141,767
|
$ 176,141,767
|
$ —
|
$ —
|
Money Market
Funds
|
3,098,117
|
3,098,117
|
—
|
—
|
Total Investments
|
$179,239,884
|
$179,239,884
|
$—
|
$—
|
*
|
See Portfolio of Investments for industry breakout.
|
Securities Lending Agency Agreement
|
|
Total gross amount presented on the Statements
of Assets and Liabilities(1)
|
$2,946,010
|
Non-cash Collateral(2)
|
(2,946,010
)
|
Net Amount
|
$—
|
(1)
|
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
|
(2)
|
At December 31, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.9%
|
|||||
|
Automobiles — 20.1%
|
|
|||
1,202,024
|
Gogoro, Inc. (a) (b)
|
$3,101,222
|
|||
9,318,670
|
Lucid Group, Inc. (a) (b)
|
39,231,601
|
|||
565,255
|
Polestar Automotive Holding
UK PLC, Class A,
ADR (a) (b)
|
1,277,476
|
|||
4,407,887
|
Rivian Automotive, Inc.,
Class A (a)
|
103,409,029
|
|||
327,597
|
Tesla, Inc. (a)
|
81,401,302
|
|||
|
|
228,420,630
|
|||
|
Chemicals — 8.3%
|
|
|||
544,568
|
Albemarle Corp.
|
78,679,184
|
|||
885,106
|
Livent Corp. (a)
|
15,914,206
|
|||
|
|
94,593,390
|
|||
|
Commercial Services &
Supplies — 0.5%
|
|
|||
965,062
|
LanzaTech Global, Inc. (a) (b)
|
4,854,262
|
|||
877,415
|
Li-Cycle Holdings Corp. (a) (b)
|
513,112
|
|||
|
|
5,367,374
|
|||
|
Construction & Engineering
— 0.5%
|
|
|||
168,517
|
Ameresco, Inc., Class A (a)
|
5,336,933
|
|||
|
Electrical Equipment — 18.3%
|
|
|||
151,981
|
Acuity Brands, Inc.
|
31,130,268
|
|||
149,240
|
American Superconductor
Corp. (a)
|
1,662,534
|
|||
744,349
|
Array Technologies, Inc. (a)
|
12,505,063
|
|||
1,470,417
|
Ballard Power Systems,
Inc. (a) (b)
|
5,440,543
|
|||
331,811
|
Blink Charging Co. (a) (b)
|
1,124,839
|
|||
1,102,857
|
Bloom Energy Corp.,
Class A (a) (b)
|
16,322,284
|
|||
1,772,328
|
ChargePoint Holdings,
Inc. (a) (b)
|
4,147,247
|
|||
198,861
|
EnerSys
|
20,077,007
|
|||
778,054
|
Eos Energy Enterprises,
Inc. (a) (b)
|
848,079
|
|||
851,614
|
ESS Tech, Inc. (a) (b)
|
970,840
|
|||
587,277
|
Fluence Energy, Inc. (a)
|
14,006,556
|
|||
615,329
|
FTC Solar, Inc. (a)
|
426,300
|
|||
2,218,158
|
FuelCell Energy, Inc. (a) (b)
|
3,549,053
|
|||
142,361
|
LSI Industries, Inc.
|
2,004,443
|
|||
305,663
|
NEXTracker, Inc., Class A (a)
|
14,320,312
|
|||
2,980,523
|
Plug Power, Inc. (a) (b)
|
13,412,353
|
|||
837,091
|
Shoals Technologies Group, Inc.,
Class A (a)
|
13,008,394
|
|||
259,213
|
Sociedad Quimica y Minera de
Chile S.A., ADR (b)
|
15,609,807
|
|||
767,379
|
Stem, Inc. (a) (b)
|
2,977,431
|
|||
862,362
|
SunPower Corp. (a) (b)
|
4,165,208
|
|||
1,072,487
|
Sunrun, Inc. (a)
|
21,052,920
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Electrical Equipment
(Continued)
|
|
|||
209,551
|
TPI Composites, Inc. (a) (b)
|
$867,541
|
|||
80,433
|
Ultralife Corp. (a)
|
548,553
|
|||
160,999
|
Vicor Corp. (a)
|
7,235,295
|
|||
852,396
|
Wallbox N.V. (a) (b)
|
1,491,693
|
|||
|
|
208,904,563
|
|||
|
Electronic Equipment,
Instruments & Components
— 3.2%
|
|
|||
183,510
|
Advanced Energy Industries,
Inc.
|
19,987,909
|
|||
223,933
|
Itron, Inc. (a)
|
16,909,181
|
|||
|
|
36,897,090
|
|||
|
Independent Power and
Renewable Electricity
Producers — 11.2%
|
|
|||
782,612
|
Altus Power, Inc. (a)
|
5,345,240
|
|||
571,752
|
Atlantica Sustainable
Infrastructure PLC
|
12,292,668
|
|||
1,419,992
|
Brookfield Renewable Partners,
L.P. (c)
|
37,317,390
|
|||
405,558
|
Clearway Energy, Inc., Class C
|
11,124,456
|
|||
707,158
|
Montauk Renewables, Inc. (a)
|
6,300,778
|
|||
459,910
|
NextEra Energy Partners,
L.P. (c) (d)
|
13,985,863
|
|||
297,087
|
Ormat Technologies, Inc.
|
22,516,224
|
|||
1,253,608
|
ReNew Energy Global PLC,
Class A (a)
|
9,602,637
|
|||
602,582
|
Sunnova Energy International,
Inc. (a) (b)
|
9,189,375
|
|||
|
|
127,674,631
|
|||
|
Machinery — 0.2%
|
|
|||
1,113,371
|
Lion Electric (The) Co. (a) (b)
|
1,970,667
|
|||
|
Metals & Mining — 1.5%
|
|
|||
875,275
|
MP Materials Corp. (a)
|
17,374,209
|
|||
|
Mortgage REITs — 1.3%
|
|
|||
547,836
|
Hannon Armstrong Sustainable
Infrastructure Capital, Inc.
|
15,109,317
|
|||
|
Oil, Gas & Consumable Fuels
— 0.5%
|
|
|||
1,097,795
|
Clean Energy Fuels Corp. (a)
|
4,204,555
|
|||
1,182,873
|
Gevo, Inc. (a) (b)
|
1,372,133
|
|||
|
|
5,576,688
|
|||
|
Semiconductors &
Semiconductor Equipment
— 34.0%
|
|
|||
947,430
|
Allegro MicroSystems, Inc. (a)
|
28,678,706
|
|||
389,276
|
Enphase Energy, Inc. (a)
|
51,438,931
|
|||
495,802
|
First Solar, Inc. (a)
|
85,416,769
|
|||
259,804
|
Maxeon Solar Technologies
Ltd. (a) (b)
|
1,862,795
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Semiconductors &
Semiconductor Equipment
(Continued)
|
|
|||
878,589
|
Navitas Semiconductor Corp. (a)
|
$7,090,213
|
|||
1,102,616
|
ON Semiconductor Corp. (a)
|
92,101,514
|
|||
279,876
|
Power Integrations, Inc.
|
22,980,618
|
|||
279,648
|
SolarEdge Technologies, Inc. (a)
|
26,175,053
|
|||
232,417
|
Universal Display Corp.
|
44,452,075
|
|||
616,901
|
Wolfspeed, Inc. (a)
|
26,841,363
|
|||
|
|
387,038,037
|
|||
|
Specialty Retail — 0.3%
|
|
|||
1,334,025
|
Allego N.V. (a) (b)
|
1,800,934
|
|||
509,733
|
EVgo, Inc. (a) (b)
|
1,824,844
|
|||
|
|
3,625,778
|
|||
|
Total Common Stocks
|
1,137,889,307
|
|||
|
(Cost $1,708,805,445)
|
|
|||
MONEY MARKET FUNDS — 9.5%
|
|||||
107,876,941
|
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.17% (e) (f)
|
107,876,941
|
|||
|
(Cost $107,876,941)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 109.4%
|
1,245,766,248
|
|||
|
(Cost $1,816,682,386)
|
|
|||
|
Net Other Assets and
Liabilities — (9.4)%
|
(106,713,836
)
|
|||
|
Net Assets — 100.0%
|
$1,139,052,412
|
(a)
|
Non-income producing security.
|
(b)
|
All or a portion of this security is on loan (see Note 2D -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $102,035,486 and the total value of the
collateral held by the Fund is $107,876,941.
|
(c)
|
Security is a Master Limited Partnership (“MLP”).
|
(d)
|
This security is taxed as a “C” corporation for federal income
tax purposes.
|
(e)
|
Rate shown reflects yield as of December 31, 2023.
|
(f)
|
This security serves as collateral for securities on loan.
|
Abbreviations throughout the Portfolio of Investments:
|
|
ADR
|
– American Depositary Receipt
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common
Stocks*
|
$ 1,137,889,307
|
$ 1,137,889,307
|
$ —
|
$ —
|
Money Market
Funds
|
107,876,941
|
107,876,941
|
—
|
—
|
Total
Investments
|
$1,245,766,248
|
$1,245,766,248
|
$—
|
$—
|
*
|
See Portfolio of Investments for industry breakout.
|
Securities Lending Agency Agreement
|
|
Total gross amount presented on the Statements
of Assets and Liabilities(1)
|
$102,035,486
|
Non-cash Collateral(2)
|
(102,035,486
)
|
Net Amount
|
$—
|
(1)
|
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
|
(2)
|
At December 31, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.4%
|
|||||
|
Data Center REITs — 10.8%
|
|
|||
34,715
|
Digital Realty Trust, Inc.
|
$4,671,945
|
|||
10,761
|
Equinix, Inc.
|
8,666,802
|
|||
|
|
13,338,747
|
|||
|
Diversified REITs — 2.8%
|
|
|||
8,314
|
Alexander & Baldwin, Inc.
|
158,132
|
|||
1,429
|
Alpine Income Property Trust,
Inc.
|
24,164
|
|||
5,568
|
American Assets Trust, Inc.
|
125,336
|
|||
7,726
|
Armada Hoffler Properties, Inc.
|
95,571
|
|||
21,465
|
Broadstone Net Lease, Inc.
|
369,627
|
|||
2,315
|
CTO Realty Growth, Inc.
|
40,119
|
|||
14,995
|
Empire State Realty Trust, Inc.,
Class A
|
145,302
|
|||
17,885
|
Essential Properties Realty Trust,
Inc.
|
457,141
|
|||
4,580
|
Gladstone Commercial Corp.
|
60,639
|
|||
22,443
|
Global Net Lease, Inc.
|
223,308
|
|||
3,758
|
NexPoint Diversified Real Estate
Trust
|
29,876
|
|||
1,811
|
One Liberty Properties, Inc.
|
39,679
|
|||
25,066
|
WP Carey, Inc.
|
1,624,527
|
|||
|
|
3,393,421
|
|||
|
Health Care REITs — 10.5%
|
|
|||
13,653
|
CareTrust REIT, Inc.
|
305,554
|
|||
2,907
|
Community Healthcare Trust,
Inc.
|
77,442
|
|||
24,738
|
Diversified Healthcare Trust
|
92,520
|
|||
7,065
|
Global Medical REIT, Inc.
|
78,422
|
|||
43,659
|
Healthcare Realty Trust, Inc.
|
752,245
|
|||
62,710
|
Healthpeak Properties, Inc.
|
1,241,658
|
|||
4,748
|
LTC Properties, Inc.
|
152,506
|
|||
68,662
|
Medical Properties Trust, Inc.
|
337,130
|
|||
4,976
|
National Health Investors, Inc.
|
277,910
|
|||
28,084
|
Omega Healthcare Investors, Inc.
|
861,055
|
|||
27,338
|
Physicians Realty Trust
|
363,869
|
|||
26,505
|
Sabra Health Care REIT, Inc.
|
378,226
|
|||
1,458
|
Universal Health Realty Income
Trust
|
63,059
|
|||
46,125
|
Ventas, Inc.
|
2,298,870
|
|||
63,444
|
Welltower, Inc.
|
5,720,745
|
|||
|
|
13,001,211
|
|||
|
Hotel & Resort REITs — 3.7%
|
|
|||
24,391
|
Apple Hospitality REIT, Inc.
|
405,134
|
|||
3,719
|
Ashford Hospitality Trust,
Inc. (a)
|
7,215
|
|||
6,279
|
Braemar Hotels & Resorts, Inc.
|
15,697
|
|||
5,601
|
Chatham Lodging Trust
|
60,043
|
|||
24,030
|
DiamondRock Hospitality Co.
|
225,642
|
|||
80,863
|
Host Hotels & Resorts, Inc.
|
1,574,403
|
|||
24,070
|
Park Hotels & Resorts, Inc.
|
368,271
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Hotel & Resort REITs
(Continued)
|
|
|||
13,813
|
Pebblebrook Hotel Trust
|
$220,732
|
|||
17,864
|
RLJ Lodging Trust
|
209,366
|
|||
6,844
|
Ryman Hospitality Properties,
Inc.
|
753,251
|
|||
19,002
|
Service Properties Trust
|
162,277
|
|||
12,331
|
Summit Hotel Properties, Inc.
|
82,864
|
|||
23,550
|
Sunstone Hotel Investors, Inc.
|
252,691
|
|||
12,156
|
Xenia Hotels & Resorts, Inc.
|
165,565
|
|||
|
|
4,503,151
|
|||
|
Industrial REITs — 16.5%
|
|
|||
30,550
|
Americold Realty Trust, Inc.
|
924,749
|
|||
5,310
|
EastGroup Properties, Inc.
|
974,597
|
|||
15,162
|
First Industrial Realty Trust, Inc.
|
798,583
|
|||
6,793
|
Industrial Logistics Properties
Trust
|
31,927
|
|||
3,214
|
Innovative Industrial Properties,
Inc.
|
324,036
|
|||
33,545
|
LXP Industrial Trust
|
332,766
|
|||
4,202
|
Plymouth Industrial REIT, Inc.
|
101,142
|
|||
105,914
|
Prologis, Inc.
|
14,118,336
|
|||
24,197
|
Rexford Industrial Realty, Inc.
|
1,357,452
|
|||
20,813
|
STAG Industrial, Inc.
|
817,118
|
|||
9,618
|
Terreno Realty Corp.
|
602,760
|
|||
|
|
20,383,466
|
|||
|
Multi-Family Residential
REITs — 10.8%
|
|
|||
16,849
|
Apartment Income REIT Corp.
|
585,166
|
|||
15,372
|
Apartment Investment and
Management Co., Class A (a)
|
120,363
|
|||
16,279
|
AvalonBay Communities, Inc.
|
3,047,754
|
|||
1,322
|
BRT Apartments Corp.
|
24,576
|
|||
12,239
|
Camden Property Trust
|
1,215,210
|
|||
1,725
|
Centerspace
|
100,395
|
|||
1,473
|
Clipper Realty, Inc.
|
7,954
|
|||
10,068
|
Elme Communities
|
146,993
|
|||
39,610
|
Equity Residential
|
2,422,548
|
|||
7,357
|
Essex Property Trust, Inc.
|
1,824,095
|
|||
25,758
|
Independence Realty Trust, Inc.
|
394,097
|
|||
13,376
|
Mid-America Apartment
Communities, Inc.
|
1,798,537
|
|||
2,619
|
NexPoint Residential Trust, Inc.
|
90,172
|
|||
34,688
|
UDR, Inc.
|
1,328,203
|
|||
9,197
|
Veris Residential, Inc.
|
144,669
|
|||
|
|
13,250,732
|
|||
|
Office REITs — 6.0%
|
|
|||
17,928
|
Alexandria Real Estate Equities,
Inc.
|
2,272,733
|
|||
16,551
|
Boston Properties, Inc.
|
1,161,384
|
|||
19,728
|
Brandywine Realty Trust
|
106,531
|
|||
4,578
|
City Office REIT, Inc.
|
27,972
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Office REITs (Continued)
|
|
|||
12,901
|
COPT Defense Properties
|
$330,653
|
|||
17,398
|
Cousins Properties, Inc.
|
423,641
|
|||
19,113
|
Douglas Emmett, Inc.
|
277,139
|
|||
10,913
|
Easterly Government Properties,
Inc.
|
146,671
|
|||
12,232
|
Equity Commonwealth
|
234,854
|
|||
10,552
|
Franklin Street Properties Corp.
|
27,013
|
|||
12,116
|
Highwoods Properties, Inc.
|
278,183
|
|||
14,540
|
Hudson Pacific Properties, Inc.
|
135,367
|
|||
9,982
|
JBG SMITH Properties
|
169,794
|
|||
12,229
|
Kilroy Realty Corp.
|
487,203
|
|||
1,676
|
NET Lease Office Properties
|
30,972
|
|||
5,588
|
Office Properties Income Trust
|
40,904
|
|||
6,394
|
Orion Office REIT, Inc.
|
36,574
|
|||
18,935
|
Paramount Group, Inc.
|
97,894
|
|||
4,128
|
Peakstone Realty Trust
|
82,271
|
|||
14,181
|
Piedmont Office Realty Trust,
Inc., Class A
|
100,827
|
|||
2,315
|
Postal Realty Trust, Inc., Class A
|
33,706
|
|||
7,384
|
SL Green Realty Corp.
|
333,535
|
|||
18,326
|
Vornado Realty Trust
|
517,710
|
|||
|
|
7,353,531
|
|||
|
Other Specialized REITs —
7.1%
|
|
|||
8,635
|
EPR Properties
|
418,366
|
|||
5,026
|
Farmland Partners, Inc.
|
62,725
|
|||
10,381
|
Four Corners Property Trust, Inc.
|
262,639
|
|||
30,608
|
Gaming and Leisure Properties,
Inc.
|
1,510,505
|
|||
3,821
|
Gladstone Land Corp.
|
55,213
|
|||
33,470
|
Iron Mountain, Inc.
|
2,342,231
|
|||
5,133
|
Safehold, Inc.
|
120,112
|
|||
27,359
|
Uniti Group, Inc.
|
158,135
|
|||
118,588
|
VICI Properties, Inc.
|
3,780,585
|
|||
|
|
8,710,511
|
|||
|
Retail REITs — 16.6%
|
|
|||
10,929
|
Acadia Realty Trust
|
185,684
|
|||
11,523
|
Agree Realty Corp.
|
725,373
|
|||
246
|
Alexander’s, Inc.
|
52,538
|
|||
34,457
|
Brixmor Property Group, Inc.
|
801,814
|
|||
2,824
|
CBL & Associates Properties,
Inc.
|
68,962
|
|||
8,421
|
Federal Realty Investment Trust
|
867,784
|
|||
5,497
|
Getty Realty Corp.
|
160,622
|
|||
7,741
|
InvenTrust Properties Corp.
|
196,157
|
|||
71,056
|
Kimco Realty Corp.
|
1,514,203
|
|||
25,149
|
Kite Realty Group Trust
|
574,906
|
|||
24,697
|
Macerich (The) Co.
|
381,075
|
|||
7,875
|
NETSTREIT Corp.
|
140,569
|
|||
20,912
|
NNN REIT, Inc.
|
901,307
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Retail REITs (Continued)
|
|
|||
13,710
|
Phillips Edison & Co., Inc.
|
$500,141
|
|||
82,983
|
Realty Income Corp.
|
4,764,884
|
|||
18,831
|
Regency Centers Corp.
|
1,261,677
|
|||
14,444
|
Retail Opportunity Investments
Corp.
|
202,649
|
|||
9,039
|
RPT Realty
|
115,970
|
|||
1,482
|
Saul Centers, Inc.
|
58,198
|
|||
37,397
|
Simon Property Group, Inc.
|
5,334,308
|
|||
20,635
|
SITE Centers Corp.
|
281,255
|
|||
16,200
|
Spirit Realty Capital, Inc.
|
707,778
|
|||
12,076
|
Tanger, Inc.
|
334,747
|
|||
13,485
|
Urban Edge Properties
|
246,776
|
|||
5,399
|
Whitestone REIT
|
66,354
|
|||
|
|
20,445,731
|
|||
|
Self-Storage REITs — 8.9%
|
|
|||
25,775
|
CubeSmart
|
1,194,671
|
|||
24,219
|
Extra Space Storage, Inc.
|
3,883,032
|
|||
8,857
|
National Storage Affiliates Trust
|
367,300
|
|||
18,140
|
Public Storage
|
5,532,700
|
|||
|
|
10,977,703
|
|||
|
Single-Family Residential
REITs — 5.7%
|
|
|||
36,458
|
American Homes 4 Rent,
Class A
|
1,311,030
|
|||
21,366
|
Equity LifeStyle Properties, Inc.
|
1,507,158
|
|||
65,939
|
Invitation Homes, Inc.
|
2,249,179
|
|||
14,265
|
Sun Communities, Inc.
|
1,906,517
|
|||
7,154
|
UMH Properties, Inc.
|
109,599
|
|||
|
|
7,083,483
|
|||
|
Total Common Stocks
|
122,441,687
|
|||
|
(Cost $149,304,513)
|
|
|||
MONEY MARKET FUNDS — 0.2%
|
|||||
264,861
|
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
5.22% (b)
|
264,861
|
|||
|
(Cost $264,861)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 99.6%
|
122,706,548
|
|||
|
(Cost $149,569,374)
|
|
|||
|
Net Other Assets and
Liabilities — 0.4%
|
506,705
|
|||
|
Net Assets — 100.0%
|
$123,213,253
|
(a)
|
Non-income producing security.
|
(b)
|
Rate shown reflects yield as of December 31, 2023.
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common Stocks*
|
$ 122,441,687
|
$ 122,441,687
|
$ —
|
$ —
|
Money Market
Funds
|
264,861
|
264,861
|
—
|
—
|
Total Investments
|
$122,706,548
|
$122,706,548
|
$—
|
$—
|
*
|
See Portfolio of Investments for sub-industry breakout.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.9%
|
|||||
|
Beverages — 1.2%
|
|
|||
1,167,998
|
Primo Water Corp.
|
$17,578,370
|
|||
|
Building Products — 9.2%
|
|
|||
688,362
|
A.O. Smith Corp.
|
56,748,563
|
|||
389,405
|
Advanced Drainage Systems,
Inc.
|
54,765,919
|
|||
962,790
|
Zurn Elkay Water Solutions
Corp.
|
28,315,654
|
|||
|
|
139,830,136
|
|||
|
Chemicals — 4.0%
|
|
|||
310,297
|
Ecolab, Inc.
|
61,547,410
|
|||
|
Commercial Services &
Supplies — 3.4%
|
|
|||
271,857
|
Tetra Tech, Inc.
|
45,381,089
|
|||
71,744
|
Veralto Corp.
|
5,901,661
|
|||
|
|
51,282,750
|
|||
|
Construction & Engineering
— 9.4%
|
|
|||
568,732
|
AECOM
|
52,567,899
|
|||
640,083
|
Stantec, Inc.
|
51,328,256
|
|||
168,745
|
Valmont Industries, Inc.
|
39,403,645
|
|||
|
|
143,299,800
|
|||
|
Electronic Equipment,
Instruments & Components
— 3.8%
|
|
|||
171,711
|
Badger Meter, Inc.
|
26,507,027
|
|||
416,866
|
Itron, Inc. (a)
|
31,477,552
|
|||
|
|
57,984,579
|
|||
|
Health Care Equipment &
Supplies — 4.1%
|
|
|||
111,526
|
IDEXX Laboratories, Inc. (a)
|
61,902,506
|
|||
|
Life Sciences Tools & Services
— 12.0%
|
|
|||
471,097
|
Agilent Technologies, Inc.
|
65,496,616
|
|||
215,229
|
Danaher Corp.
|
49,791,077
|
|||
203,118
|
Waters Corp. (a)
|
66,872,539
|
|||
|
|
182,160,232
|
|||
|
Machinery — 22.6%
|
|
|||
655,763
|
Energy Recovery, Inc. (a)
|
12,354,575
|
|||
720,693
|
Flowserve Corp.
|
29,706,965
|
|||
294,880
|
Franklin Electric Co., Inc.
|
28,500,152
|
|||
251,924
|
IDEX Corp.
|
54,695,220
|
|||
143,623
|
Lindsay Corp.
|
18,550,347
|
|||
739,187
|
Mueller Industries, Inc.
|
34,852,667
|
|||
1,262,298
|
Mueller Water Products, Inc.,
Class A
|
18,177,091
|
|||
710,308
|
Pentair PLC
|
51,646,495
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Machinery (Continued)
|
|
|||
151,072
|
Watts Water Technologies, Inc.,
Class A
|
$31,474,340
|
|||
550,856
|
Xylem, Inc.
|
62,995,892
|
|||
|
|
342,953,744
|
|||
|
Multi-Utilities — 1.6%
|
|
|||
3,772,201
|
Algonquin Power & Utilities
Corp. (b)
|
23,840,310
|
|||
|
Software — 4.1%
|
|
|||
114,286
|
Roper Technologies, Inc.
|
62,305,299
|
|||
|
Trading Companies &
Distributors — 8.0%
|
|
|||
1,302,581
|
Core & Main, Inc., Class A (a)
|
52,637,298
|
|||
353,031
|
Ferguson PLC
|
68,159,695
|
|||
|
|
120,796,993
|
|||
|
Water Utilities — 16.5%
|
|
|||
338,651
|
American States Water Co.
|
27,234,314
|
|||
411,098
|
American Water Works Co., Inc.
|
54,260,825
|
|||
567,519
|
California Water Service Group
|
29,437,211
|
|||
3,687,651
|
Cia de Saneamento Basico do
Estado de Sao Paulo, ADR
|
56,162,925
|
|||
1,352,472
|
Essential Utilities, Inc.
|
50,514,829
|
|||
236,828
|
Middlesex Water Co.
|
15,540,653
|
|||
271,041
|
SJW Group
|
17,712,529
|
|||
|
|
250,863,286
|
|||
|
Total Common Stocks
|
1,516,345,415
|
|||
|
(Cost $1,257,383,896)
|
|
|||
MONEY MARKET FUNDS — 1.6%
|
|||||
23,145,500
|
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.17% (c) (d)
|
23,145,500
|
|||
551,490
|
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
5.22% (c)
|
551,490
|
|||
|
Total Money Market Funds
|
23,696,990
|
|||
|
(Cost $23,696,990)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 101.5%
|
1,540,042,405
|
|||
|
(Cost $1,281,080,886)
|
|
|||
|
Net Other Assets and
Liabilities — (1.5)%
|
(22,787,198
)
|
|||
|
Net Assets — 100.0%
|
$1,517,255,207
|
(a)
|
Non-income producing security.
|
(b)
|
All or a portion of this security is on loan (see Note 2D -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $22,575,040 and the total value of the collateral
held by the Fund is $23,145,500.
|
(c)
|
Rate shown reflects yield as of December 31, 2023.
|
(d)
|
This security serves as collateral for securities on loan.
|
Abbreviations throughout the Portfolio of Investments:
|
|
ADR
|
– American Depositary Receipt
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common
Stocks*
|
$ 1,516,345,415
|
$ 1,516,345,415
|
$ —
|
$ —
|
Money Market
Funds
|
23,696,990
|
23,696,990
|
—
|
—
|
Total
Investments
|
$1,540,042,405
|
$1,540,042,405
|
$—
|
$—
|
*
|
See Portfolio of Investments for industry breakout.
|
Securities Lending Agency Agreement
|
|
Total gross amount presented on the Statements
of Assets and Liabilities(1)
|
$22,575,040
|
Non-cash Collateral(2)
|
(22,575,040
)
|
Net Amount
|
$—
|
(1)
|
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
|
(2)
|
At December 31, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.9%
|
|||||
|
Gas Utilities — 2.0%
|
|
|||
183,309
|
National Fuel Gas Co.
|
$9,196,612
|
|||
|
Oil, Gas & Consumable Fuels
— 97.9%
|
|
|||
121,309
|
Amplify Energy Corp. (a)
|
719,362
|
|||
535,846
|
Antero Resources Corp. (a)
|
12,152,987
|
|||
372,413
|
APA Corp.
|
13,362,178
|
|||
1,837,881
|
Baytex Energy Corp.
|
6,101,765
|
|||
238,191
|
Callon Petroleum Co. (a)
|
7,717,388
|
|||
176,212
|
Chesapeake Energy Corp.
|
13,557,751
|
|||
64,312
|
Chord Energy Corp.
|
10,690,584
|
|||
168,070
|
Civitas Resources, Inc.
|
11,492,627
|
|||
374,914
|
CNX Resources Corp. (a)
|
7,498,280
|
|||
603,709
|
Comstock Resources, Inc.
|
5,342,825
|
|||
154,674
|
ConocoPhillips
|
17,953,011
|
|||
553,298
|
Coterra Energy, Inc.
|
14,120,165
|
|||
326,679
|
Crescent Energy, Inc., Class A
|
4,315,430
|
|||
1,163,791
|
Crescent Point Energy Corp.
|
8,065,072
|
|||
356,100
|
Devon Energy Corp.
|
16,131,330
|
|||
101,299
|
Diamondback Energy, Inc.
|
15,709,449
|
|||
399,183
|
Enerplus Corp.
|
6,123,467
|
|||
136,172
|
EOG Resources, Inc.
|
16,470,003
|
|||
382,105
|
EQT Corp.
|
14,772,179
|
|||
252,056
|
Granite Ridge Resources, Inc.
|
1,517,377
|
|||
38,046
|
Gulfport Energy Corp. (a)
|
5,067,727
|
|||
116,579
|
Hess Corp.
|
16,806,029
|
|||
665,558
|
Hess Midstream, L.P.,
Class A (b) (c)
|
21,051,600
|
|||
987,250
|
Kosmos Energy Ltd. (a)
|
6,624,448
|
|||
415,716
|
Magnolia Oil & Gas Corp.,
Class A
|
8,850,594
|
|||
585,787
|
Marathon Oil Corp.
|
14,152,614
|
|||
212,329
|
Matador Resources Co.
|
12,073,027
|
|||
252,514
|
Murphy Oil Corp.
|
10,772,247
|
|||
228,902
|
Northern Oil and Gas, Inc.
|
8,485,397
|
|||
245,978
|
Obsidian Energy Ltd. (a) (d)
|
1,667,731
|
|||
289,619
|
Occidental Petroleum Corp.
|
17,293,150
|
|||
310,764
|
Ovintiv, Inc.
|
13,648,755
|
|||
850,258
|
Permian Resources Corp.
|
11,563,509
|
|||
75,562
|
Pioneer Natural Resources Co.
|
16,992,383
|
|||
366,685
|
Range Resources Corp.
|
11,161,891
|
|||
15,079
|
Riley Exploration Permian, Inc.
|
410,752
|
|||
677,116
|
Ring Energy, Inc. (a) (d)
|
988,589
|
|||
188,767
|
SandRidge Energy, Inc.
|
2,580,445
|
|||
128,780
|
SilverBow Resources, Inc. (a)
|
3,744,922
|
|||
258,550
|
SM Energy Co.
|
10,011,056
|
|||
1,977,914
|
Southwestern Energy Co. (a)
|
12,955,337
|
|||
347,800
|
Talos Energy, Inc. (a)
|
4,949,194
|
|||
5,503,639
|
Tellurian, Inc. (a)
|
4,158,550
|
|||
353,836
|
Vermilion Energy, Inc.
|
4,267,262
|
|||
124,580
|
Vital Energy, Inc. (a)
|
5,667,144
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Oil, Gas & Consumable Fuels
(Continued)
|
|
|||
126,080
|
Vitesse Energy, Inc.
|
$2,759,891
|
|||
669,005
|
W&T Offshore, Inc.
|
2,180,956
|
|||
726,265
|
Western Midstream Partners,
L.P. (c)
|
21,250,514
|
|||
494,596
|
Woodside Energy Group Ltd.,
ADR (d)
|
10,431,030
|
|||
|
|
466,379,974
|
|||
|
Total Common Stocks
|
475,576,586
|
|||
|
(Cost $504,244,692)
|
|
|||
MONEY MARKET FUNDS — 1.3%
|
|||||
5,280,080
|
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.17% (e) (f)
|
5,280,080
|
|||
1,059,403
|
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
5.22% (e)
|
1,059,403
|
|||
|
Total Money Market Funds
|
6,339,483
|
|||
|
(Cost $6,339,483)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 101.2%
|
481,916,069
|
|||
|
(Cost $510,584,175)
|
|
|||
|
Net Other Assets and
Liabilities — (1.2)%
|
(5,555,173
)
|
|||
|
Net Assets — 100.0%
|
$476,360,896
|
(a)
|
Non-income producing security.
|
(b)
|
This security is taxed as a “C” corporation for federal income
tax purposes.
|
(c)
|
Security is a Master Limited Partnership (“MLP”).
|
(d)
|
All or a portion of this security is on loan (see Note 2D -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $5,113,770 and the total value of the collateral
held by the Fund is $5,280,080.
|
(e)
|
Rate shown reflects yield as of December 31, 2023.
|
(f)
|
This security serves as collateral for securities on loan.
|
Abbreviations throughout the Portfolio of Investments:
|
|
ADR
|
– American Depositary Receipt
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common Stocks*
|
$ 475,576,586
|
$ 475,576,586
|
$ —
|
$ —
|
Money Market
Funds
|
6,339,483
|
6,339,483
|
—
|
—
|
Total Investments
|
$481,916,069
|
$481,916,069
|
$—
|
$—
|
*
|
See Portfolio of Investments for industry breakout.
|
Securities Lending Agency Agreement
|
|
Total gross amount presented on the Statements
of Assets and Liabilities(1)
|
$5,113,770
|
Non-cash Collateral(2)
|
(5,113,770
)
|
Net Amount
|
$—
|
(1)
|
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
|
(2)
|
At December 31, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.9%
|
|||||
|
Banks — 98.2%
|
|
|||
12,641
|
1st Source Corp.
|
$694,623
|
|||
15,727
|
Amalgamated Financial Corp.
|
423,685
|
|||
35,731
|
Ameris Bancorp
|
1,895,530
|
|||
8,825
|
Arrow Financial Corp.
|
246,571
|
|||
17,034
|
BancFirst Corp.
|
1,657,919
|
|||
27,764
|
Bancorp (The), Inc. (a)
|
1,070,580
|
|||
5,364
|
Bank First Corp. (b)
|
464,844
|
|||
8,351
|
Bank of Marin Bancorp
|
183,889
|
|||
58,541
|
Bank OZK
|
2,917,098
|
|||
17,773
|
Banner Corp.
|
951,922
|
|||
12,897
|
Blue Foundry Bancorp (a)
|
124,714
|
|||
14,489
|
Bridgewater Bancshares, Inc. (a)
|
195,891
|
|||
45,983
|
Brookline Bancorp, Inc.
|
501,675
|
|||
3,844
|
Burke & Herbert Financial
Services Corp. (b)
|
241,788
|
|||
13,114
|
Business First Bancshares, Inc.
|
323,260
|
|||
7,533
|
Camden National Corp.
|
283,467
|
|||
8,792
|
Capital City Bank Group, Inc.
|
258,749
|
|||
69,980
|
Capitol Federal Financial, Inc.
|
451,371
|
|||
11,878
|
Carter Bankshares, Inc. (a)
|
177,814
|
|||
37,592
|
Cathay General Bancorp
|
1,675,475
|
|||
2,435
|
Citizens Financial Services,
Inc. (b)
|
157,593
|
|||
7,675
|
City Holding Co.
|
846,246
|
|||
10,814
|
CNB Financial Corp.
|
244,288
|
|||
6,884
|
Coastal Financial Corp. (a)
|
305,718
|
|||
54,287
|
Columbia Financial, Inc. (a)
|
1,046,653
|
|||
67,527
|
Commerce Bancshares, Inc.
|
3,606,617
|
|||
9,314
|
Community Trust Bancorp, Inc.
|
408,512
|
|||
19,977
|
ConnectOne Bancorp, Inc.
|
457,673
|
|||
25,508
|
CrossFirst Bankshares, Inc. (a)
|
346,399
|
|||
72,099
|
CVB Financial Corp.
|
1,455,679
|
|||
20,088
|
Dime Community Bancshares,
Inc.
|
540,970
|
|||
15,485
|
Eagle Bancorp, Inc.
|
466,718
|
|||
19,345
|
Enterprise Financial Services
Corp.
|
863,754
|
|||
4,245
|
Esquire Financial Holdings, Inc.
|
212,080
|
|||
19,398
|
Farmers National Banc Corp.
|
280,301
|
|||
7,970
|
Financial Institutions, Inc.
|
169,761
|
|||
21,262
|
First Bancorp
|
786,907
|
|||
16,087
|
First Bancshares (The), Inc.
|
471,832
|
|||
28,593
|
First Busey Corp.
|
709,678
|
|||
9,591
|
First Community Bankshares,
Inc.
|
355,826
|
|||
49,219
|
First Financial Bancorp
|
1,168,951
|
|||
73,843
|
First Financial Bankshares, Inc.
|
2,237,443
|
|||
6,082
|
First Financial Corp.
|
261,708
|
|||
66,032
|
First Hawaiian, Inc.
|
1,509,492
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Banks (Continued)
|
|
|||
54,330
|
First Interstate BancSystem, Inc.,
Class A
|
$1,670,647
|
|||
30,967
|
First Merchants Corp.
|
1,148,256
|
|||
12,336
|
First Mid Bancshares, Inc.
|
427,566
|
|||
11,688
|
First of Long Island (The) Corp.
|
154,749
|
|||
14,956
|
Flushing Financial Corp.
|
246,475
|
|||
84,959
|
Fulton Financial Corp.
|
1,398,425
|
|||
15,304
|
German American Bancorp, Inc.
|
496,003
|
|||
6,104
|
Great Southern Bancorp, Inc.
|
362,272
|
|||
44,578
|
Hancock Whitney Corp.
|
2,166,045
|
|||
15,727
|
Hanmi Financial Corp.
|
305,104
|
|||
23,682
|
HarborOne Bancorp, Inc.
|
283,710
|
|||
16,408
|
HBT Financial, Inc.
|
346,373
|
|||
22,075
|
Heartland Financial USA, Inc.
|
830,241
|
|||
31,616
|
Heritage Commerce Corp.
|
313,631
|
|||
18,059
|
Heritage Financial Corp.
|
386,282
|
|||
1,113
|
Hingham Institution for
Savings (b)
|
216,367
|
|||
8,995
|
HomeTrust Bancshares, Inc.
|
242,145
|
|||
62,149
|
Hope Bancorp, Inc.
|
750,760
|
|||
22,827
|
Horizon Bancorp, Inc.
|
326,654
|
|||
22,692
|
Independent Bank Corp.
|
1,493,361
|
|||
10,784
|
Independent Bank Corp.
|
280,600
|
|||
21,361
|
Independent Bank Group, Inc.
|
1,086,848
|
|||
32,112
|
International Bancshares Corp.
|
1,744,324
|
|||
33,395
|
Kearny Financial Corp.
|
299,553
|
|||
13,160
|
Lakeland Financial Corp.
|
857,506
|
|||
8,292
|
Mercantile Bank Corp.
|
334,831
|
|||
8,625
|
Mid Penn Bancorp, Inc.
|
209,415
|
|||
11,145
|
Midland States Bancorp, Inc.
|
307,156
|
|||
8,120
|
MidWestOne Financial Group,
Inc.
|
218,509
|
|||
24,365
|
NBT Bancorp, Inc.
|
1,021,137
|
|||
4,032
|
Northeast Bank
|
222,526
|
|||
7,346
|
Northeast Community Bancorp,
Inc.
|
130,318
|
|||
23,262
|
Northfield Bancorp, Inc.
|
292,636
|
|||
2,859
|
Northrim BanCorp, Inc.
|
163,563
|
|||
65,769
|
Northwest Bancshares, Inc.
|
820,797
|
|||
4,291
|
Oak Valley Bancorp (b)
|
128,515
|
|||
30,748
|
OceanFirst Financial Corp.
|
533,785
|
|||
23,129
|
Old Second Bancorp, Inc.
|
357,112
|
|||
49,622
|
Pacific Premier Bancorp, Inc.
|
1,444,496
|
|||
13,448
|
Pathward Financial, Inc.
|
711,803
|
|||
9,220
|
Peapack-Gladstone Financial
Corp.
|
274,940
|
|||
18,299
|
Peoples Bancorp, Inc.
|
617,774
|
|||
3,643
|
Peoples Financial Services Corp.
|
177,414
|
|||
7,216
|
Preferred Bank
|
527,129
|
|||
18,490
|
Premier Financial Corp.
|
445,609
|
|||
12,771
|
Primis Financial Corp.
|
161,681
|
|||
8,658
|
QCR Holdings, Inc.
|
505,541
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Banks (Continued)
|
|
|||
9,829
|
RBB Bancorp
|
$187,144
|
|||
8,911
|
Republic Bancorp, Inc., Class A
|
491,531
|
|||
19,785
|
S&T Bancorp, Inc.
|
661,215
|
|||
23,230
|
Sandy Spring Bancorp, Inc.
|
632,785
|
|||
44,060
|
Seacoast Banking Corp. of
Florida
|
1,253,948
|
|||
17,151
|
Shore Bancshares, Inc.
|
244,402
|
|||
64,768
|
Simmons First National Corp.,
Class A
|
1,284,997
|
|||
8,529
|
South Plains Financial, Inc.
|
247,000
|
|||
5,866
|
Southern Missouri Bancorp, Inc.
|
313,186
|
|||
15,625
|
Southside Bancshares, Inc.
|
489,375
|
|||
15,172
|
Stock Yards Bancorp, Inc.
|
781,206
|
|||
24,848
|
Texas Capital Bancshares,
Inc. (a)
|
1,605,926
|
|||
145,069
|
TFS Financial Corp.
|
2,131,064
|
|||
38,746
|
TowneBank
|
1,153,081
|
|||
17,214
|
TriCo Bancshares
|
739,686
|
|||
12,052
|
Triumph Financial, Inc. (a)
|
966,329
|
|||
9,844
|
TrustCo Bank Corp.
|
305,656
|
|||
31,600
|
Trustmark Corp.
|
881,008
|
|||
25,112
|
UMB Financial Corp.
|
2,098,108
|
|||
69,820
|
United Bankshares, Inc.
|
2,621,741
|
|||
61,565
|
United Community Banks, Inc.
|
1,801,392
|
|||
15,269
|
Univest Financial Corp.
|
336,376
|
|||
28,109
|
Veritex Holdings, Inc.
|
654,096
|
|||
33,536
|
WaFd, Inc.
|
1,105,347
|
|||
8,813
|
Washington Trust Bancorp, Inc.
|
285,365
|
|||
30,719
|
WesBanco, Inc.
|
963,655
|
|||
13,789
|
Westamerica BanCorp
|
777,837
|
|||
31,687
|
Wintrust Financial Corp.
|
2,938,969
|
|||
31,425
|
WSFS Financial Corp.
|
1,443,350
|
|||
|
|
90,488,023
|
|||
|
Financial Services — 1.7%
|
|
|||
7,036
|
Cass Information Systems, Inc.
|
316,972
|
|||
22,374
|
Merchants Bancorp
|
952,685
|
|||
12,754
|
NewtekOne, Inc. (b)
|
176,005
|
|||
10,647
|
Waterstone Financial, Inc.
|
151,187
|
|||
|
|
1,596,849
|
|||
|
Total Common Stocks
|
92,084,872
|
|||
|
(Cost $103,016,168)
|
|
Shares
|
Description
|
Value
|
|||
MONEY MARKET FUNDS — 1.2%
|
|||||
1,121,489
|
Goldman Sachs Financial Square
Treasury Obligations Fund -
Institutional Class -
5.17% (c) (d)
|
$1,121,489
|
|||
|
(Cost $1,121,489)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 101.1%
|
93,206,361
|
|||
|
(Cost $104,137,657)
|
|
|||
|
Net Other Assets and
Liabilities — (1.1)%
|
(1,014,688
)
|
|||
|
Net Assets — 100.0%
|
$92,191,673
|
(a)
|
Non-income producing security.
|
(b)
|
All or a portion of this security is on loan (see Note 2D -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities, including those sold and pending
settlement, is $1,077,386 and the total value of the collateral
held by the Fund is $1,121,489.
|
(c)
|
Rate shown reflects yield as of December 31, 2023.
|
(d)
|
This security serves as collateral for securities on loan.
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common Stocks*
|
$ 92,084,872
|
$ 92,084,872
|
$ —
|
$ —
|
Money Market Funds
|
1,121,489
|
1,121,489
|
—
|
—
|
Total Investments
|
$93,206,361
|
$93,206,361
|
$—
|
$—
|
*
|
See Portfolio of Investments for industry breakout.
|
Securities Lending Agency Agreement
|
|
Total gross amount presented on the Statements
of Assets and Liabilities(1)
|
$1,077,386
|
Non-cash Collateral(2)
|
(1,077,386
)
|
Net Amount
|
$—
|
(1)
|
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
|
(2)
|
At December 31, 2023, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
|
|
First Trust
NASDAQ-100
Equal Weighted
Index Fund
(QQEW)
|
First Trust
NASDAQ-100-
Technology
Sector Index
Fund
(QTEC)
|
First Trust
NASDAQ-100
Ex-Technology
Sector Index
Fund
(QQXT)
|
ASSETS:
|
|
|
|
Investments, at value
|
$2,304,645,207
|
$3,578,160,120
|
$179,239,884
|
Cash
|
527,492
|
1,459,277
|
—
|
Receivables:
|
|
|
|
Capital shares sold
|
5,875,953
|
8,834,297
|
—
|
Dividends
|
2,027,294
|
716,069
|
246,061
|
Investment securities sold
|
999,343
|
179,779
|
—
|
Securities lending income
|
770,650
|
34,832
|
109,699
|
Reclaims
|
—
|
—
|
—
|
Other receivables
|
—
|
—
|
—
|
Prepaid expenses
|
13,754
|
16,782
|
1,184
|
Total Assets
|
2,314,859,693
|
3,589,401,156
|
179,596,828
|
|
|||
LIABILITIES:
|
|
|
|
Payables:
|
|
|
|
Collateral for securities on loan
|
44,551,064
|
84,859,021
|
3,044,764
|
Investment securities purchased
|
6,369,431
|
8,834,265
|
—
|
Investment advisory fees
|
735,382
|
1,129,538
|
48,781
|
Licensing fees
|
505,177
|
769,617
|
41,867
|
Shareholder reporting fees
|
75,059
|
91,797
|
11,977
|
Audit and tax fees
|
25,080
|
24,998
|
25,022
|
Capital shares redeemed
|
—
|
—
|
—
|
Trustees’ fees
|
—
|
—
|
53
|
Other liabilities
|
322,555
|
450,749
|
34,211
|
Total Liabilities
|
52,583,748
|
96,159,985
|
3,206,675
|
NET ASSETS
|
$2,262,275,945
|
$3,493,241,171
|
$176,390,153
|
|
|||
NET ASSETS consist of:
|
|
|
|
Paid-in capital
|
$2,019,202,166
|
$3,310,644,637
|
$175,568,385
|
Par value
|
192,500
|
199,000
|
20,000
|
Accumulated distributable earnings (loss)
|
242,881,279
|
182,397,534
|
801,768
|
NET ASSETS
|
$2,262,275,945
|
$3,493,241,171
|
$176,390,153
|
NET ASSET VALUE, per share
|
$117.52
|
$175.54
|
$88.19
|
Number of shares outstanding (unlimited number of shares authorized,
par value $0.01 per share)
|
19,250,002
|
19,900,002
|
2,000,002
|
Investments, at cost
|
$1,862,708,855
|
$2,901,405,076
|
$154,471,146
|
Securities on loan, at value
|
$43,076,409
|
$81,951,500
|
$2,946,010
|
First Trust NASDAQ®
Clean Edge® Green
Energy Index Fund
(QCLN)
|
First Trust S&P REIT
Index Fund
(FRI)
|
First Trust Water
ETF
(FIW)
|
First Trust Natural
Gas ETF
(FCG)
|
First Trust NASDAQ®
ABA Community
Bank Index Fund
(QABA)
|
|
|
|
|
|
$1,245,766,248
|
$122,706,548
|
$1,540,042,405
|
$481,916,069
|
$93,206,361
|
691,126
|
175
|
—
|
—
|
8,613
|
|
|
|
|
|
—
|
—
|
—
|
—
|
—
|
516,607
|
622,384
|
1,274,149
|
359,279
|
138,204
|
2,107,034
|
—
|
120,632
|
1,213,289
|
—
|
468,548
|
—
|
6,468
|
1,070
|
1,022
|
526,856
|
—
|
169,819
|
905
|
—
|
—
|
—
|
—
|
—
|
53,925
|
10,763
|
999
|
11,096
|
6,025
|
474
|
1,250,087,182
|
123,330,106
|
1,541,624,569
|
483,496,637
|
93,408,599
|
|
||||
|
|
|
|
|
|
|
|
|
|
107,876,941
|
—
|
23,145,500
|
5,280,080
|
1,121,489
|
—
|
—
|
—
|
—
|
—
|
372,759
|
30,888
|
501,118
|
166,644
|
11,757
|
266,729
|
10,469
|
350,624
|
267,154
|
13,892
|
158,487
|
19,543
|
100,913
|
73,283
|
22,440
|
25,197
|
27,702
|
24,998
|
25,987
|
24,940
|
2,109,543
|
—
|
—
|
1,215,289
|
—
|
72
|
53
|
2
|
48
|
54
|
225,042
|
28,198
|
246,207
|
107,256
|
22,354
|
111,034,770
|
116,853
|
24,369,362
|
7,135,741
|
1,216,926
|
$1,139,052,412
|
$123,213,253
|
$1,517,255,207
|
$476,360,896
|
$92,191,673
|
|
||||
|
|
|
|
|
$2,188,936,208
|
$152,709,452
|
$1,341,456,148
|
$1,057,402,059
|
$124,288,516
|
270,000
|
47,000
|
160,000
|
195,984
|
18,500
|
(1,050,153,796
)
|
(29,543,199
)
|
175,639,059
|
(581,237,147
)
|
(32,115,343
)
|
$1,139,052,412
|
$123,213,253
|
$1,517,255,207
|
$476,360,896
|
$92,191,673
|
$42.19
|
$26.22
|
$94.83
|
$24.31
|
$49.83
|
27,000,002
|
4,700,002
|
16,000,002
|
19,598,365
|
1,850,002
|
$1,816,682,386
|
$149,569,374
|
$1,281,080,886
|
$510,584,175
|
$104,137,657
|
$102,035,486
|
$—
|
$22,575,040
|
$5,113,770
|
$1,077,386
|
|
First Trust
NASDAQ-100
Equal Weighted
Index Fund
(QQEW)
|
First Trust
NASDAQ-100-
Technology
Sector Index
Fund
(QTEC)
|
First Trust
NASDAQ-100
Ex-Technology
Sector Index
Fund
(QQXT)
|
INVESTMENT INCOME:
|
|
|
|
Dividends
|
$19,385,029
|
$14,349,084
|
$2,312,762
|
Securities lending income (net of fees)
|
4,553,373
|
804,496
|
663,765
|
Foreign withholding tax
|
(80,849
)
|
(272,930
)
|
—
|
Total investment income
|
23,857,553
|
14,880,650
|
2,976,527
|
|
|||
EXPENSES:
|
|
|
|
Investment advisory fees
|
6,859,886
|
8,414,655
|
676,245
|
Licensing fees
|
1,714,972
|
2,107,660
|
169,061
|
Accounting and administration fees
|
789,752
|
930,637
|
88,207
|
Shareholder reporting fees
|
182,874
|
188,650
|
30,358
|
Transfer agent fees
|
67,874
|
77,692
|
8,453
|
Custodian fees
|
60,401
|
94,475
|
14,142
|
Legal fees
|
37,014
|
42,234
|
4,133
|
Audit and tax fees
|
29,390
|
27,723
|
29,938
|
Listing fees
|
11,329
|
11,329
|
11,329
|
Trustees’ fees and expenses
|
8,522
|
8,570
|
7,232
|
Other expenses
|
22,917
|
29,549
|
3,388
|
Total expenses
|
9,784,931
|
11,933,174
|
1,042,486
|
Less fees waived by the investment advisor
|
—
|
—
|
(28,119
)
|
Net expenses
|
9,784,931
|
11,933,174
|
1,014,367
|
NET INVESTMENT INCOME (LOSS)
|
14,072,622
|
2,947,476
|
1,962,160
|
|
|||
NET REALIZED AND UNREALIZED GAIN (LOSS):
|
|
|
|
Net realized gain (loss) on:
|
|
|
|
Investments
|
(50,853,200
)
|
(73,823,591
)
|
(6,271,934
)
|
In-kind redemptions
|
49,318,428
|
130,557,234
|
15,336,801
|
Foreign currency transactions
|
—
|
—
|
—
|
Net realized gain (loss)
|
(1,534,772
)
|
56,733,643
|
9,064,867
|
Net change in unrealized appreciation (depreciation) on:
|
|
|
|
Investments
|
467,638,627
|
1,001,338,311
|
14,041,513
|
Foreign currency translation
|
—
|
—
|
—
|
Net change in unrealized appreciation (depreciation)
|
467,638,627
|
1,001,338,311
|
14,041,513
|
NET REALIZED AND UNREALIZED GAIN (LOSS)
|
466,103,855
|
1,058,071,954
|
23,106,380
|
NET INCREASE (DECREASE) IN NET ASSETS RESULTING
FROM OPERATIONS
|
$480,176,477
|
$1,061,019,430
|
$25,068,540
|
First Trust NASDAQ®
Clean Edge® Green
Energy Index Fund
(QCLN)
|
First Trust S&P REIT
Index Fund
(FRI)
|
First Trust Water
ETF
(FIW)
|
First Trust Natural
Gas ETF
(FCG)
|
First Trust NASDAQ®
ABA Community
Bank Index Fund
(QABA)
|
|
|
|
|
|
$7,204,444
|
$4,766,127
|
$17,394,990
|
$17,906,627
|
$2,909,731
|
8,203,309
|
—
|
166,968
|
138,247
|
19,018
|
(191,105
)
|
—
|
(346,961
)
|
(223,176
)
|
—
|
15,216,648
|
4,766,127
|
17,214,997
|
17,821,698
|
2,928,749
|
|
||||
|
|
|
|
|
5,733,465
|
366,635
|
5,403,393
|
2,291,765
|
364,503
|
1,433,366
|
97,769
|
675,424
|
572,941
|
82,013
|
677,227
|
66,113
|
644,099
|
290,348
|
50,695
|
295,113
|
36,179
|
212,163
|
138,058
|
45,995
|
60,765
|
6,111
|
58,771
|
28,647
|
4,557
|
68,705
|
14,312
|
90,577
|
46,612
|
12,595
|
40,174
|
3,019
|
33,019
|
14,380
|
3,234
|
28,747
|
34,831
|
29,145
|
31,719
|
29,816
|
11,329
|
9,812
|
12,413
|
14,351
|
11,321
|
8,318
|
7,173
|
8,198
|
7,532
|
7,163
|
32,341
|
3,074
|
21,545
|
13,901
|
2,575
|
8,389,550
|
645,028
|
7,188,747
|
3,450,254
|
614,467
|
—
|
(33,968
)
|
—
|
(11,004
)
|
(67,713
)
|
8,389,550
|
611,060
|
7,188,747
|
3,439,250
|
546,754
|
6,827,098
|
4,155,067
|
10,026,250
|
14,382,448
|
2,381,995
|
|
||||
|
|
|
|
|
|
|
|
|
|
(99,746,341
)
|
(3,180,124
)
|
(56,543,542
)
|
(14,171,706
)
|
(7,394,748
)
|
18,001,506
|
(3,200,841
)
|
89,643,202
|
63,361,399
|
(11,773,716
)
|
—
|
—
|
—
|
584
|
—
|
(81,744,835
)
|
(6,380,965
)
|
33,099,660
|
49,190,277
|
(19,168,464
)
|
|
|
|
|
|
(66,605,179
)
|
16,785,202
|
209,288,484
|
(65,693,504
)
|
1,927,761
|
—
|
—
|
—
|
913
|
—
|
(66,605,179
)
|
16,785,202
|
209,288,484
|
(65,692,591
)
|
1,927,761
|
(148,350,014
)
|
10,404,237
|
242,388,144
|
(16,502,314
)
|
(17,240,703
)
|
$(141,522,916
)
|
$14,559,304
|
$252,414,394
|
$(2,119,866
)
|
$(14,858,708
)
|
|
First Trust NASDAQ-100 Equal
Weighted Index Fund (QQEW)
|
First Trust NASDAQ-100-
Technology Sector Index Fund
(QTEC)
|
||
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
OPERATIONS:
|
|
|
|
|
Net investment income (loss)
|
$14,072,622
|
$6,934,732
|
$2,947,476
|
$2,528,502
|
Net realized gain (loss)
|
(1,534,772
)
|
(31,834,305
)
|
56,733,643
|
30,459,402
|
Net change in unrealized appreciation (depreciation)
|
467,638,627
|
(315,062,565
)
|
1,001,338,311
|
(1,355,869,794
)
|
Net increase (decrease) in net assets resulting from
operations
|
480,176,477
|
(339,962,138
)
|
1,061,019,430
|
(1,322,881,890
)
|
|
||||
DISTRIBUTIONS TO SHAREHOLDERS FROM:
|
|
|
|
|
Investment operations
|
(14,296,112
)
|
(6,866,581
)
|
(3,468,140
)
|
(2,234,346
)
|
|
||||
SHAREHOLDER TRANSACTIONS:
|
|
|
|
|
Proceeds from shares sold
|
868,400,353
|
303,095,848
|
1,512,418,124
|
358,662,021
|
Cost of shares redeemed
|
(158,497,835
)
|
(261,188,326
)
|
(435,865,726
)
|
(1,724,215,364
)
|
Net increase (decrease) in net assets resulting from
shareholder transactions
|
709,902,518
|
41,907,522
|
1,076,552,398
|
(1,365,553,343
)
|
Total increase (decrease) in net assets
|
1,175,782,883
|
(304,921,197
)
|
2,134,103,688
|
(2,690,669,579
)
|
|
||||
NET ASSETS:
|
|
|
|
|
Beginning of period
|
1,086,493,062
|
1,391,414,259
|
1,359,137,483
|
4,049,807,062
|
End of period
|
$2,262,275,945
|
$1,086,493,062
|
$3,493,241,171
|
$1,359,137,483
|
|
||||
CHANGES IN SHARES OUTSTANDING:
|
|
|
|
|
Shares outstanding, beginning of period
|
12,250,002
|
11,750,002
|
12,900,002
|
23,100,002
|
Shares sold
|
8,550,000
|
3,250,000
|
10,100,000
|
2,600,000
|
Shares redeemed
|
(1,550,000
)
|
(2,750,000
)
|
(3,100,000
)
|
(12,800,000
)
|
Shares outstanding, end of period
|
19,250,002
|
12,250,002
|
19,900,002
|
12,900,002
|
First Trust NASDAQ-100 Ex-
Technology Sector Index
Fund (QQXT)
|
First Trust NASDAQ® Clean
Edge® Green Energy Index
Fund (QCLN)
|
First Trust S&P REIT Index
Fund (FRI)
|
First Trust Water ETF (FIW)
|
||||
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
|
|
|
|
|
|
|
|
$1,962,160
|
$1,073,743
|
$6,827,098
|
$2,172,391
|
$4,155,067
|
$3,638,070
|
$10,026,250
|
$8,414,234
|
9,064,867
|
57,843
|
(81,744,835
)
|
(111,416,162
)
|
(6,380,965
)
|
(1,238,871
)
|
33,099,660
|
65,651,825
|
14,041,513
|
(20,127,544
)
|
(66,605,179
)
|
(703,458,148
)
|
16,785,202
|
(67,166,910
)
|
209,288,484
|
(333,862,573
)
|
25,068,540
|
(18,995,958
)
|
(141,522,916
)
|
(812,701,919
)
|
14,559,304
|
(64,767,711
)
|
252,414,394
|
(259,796,514
)
|
|
|||||||
|
|
|
|
|
|
|
|
(1,980,762
)
|
(1,136,087
)
|
(9,544,615
)
|
(5,415,781
)
|
(4,123,107
)
|
(4,101,541
)
|
(10,284,831
)
|
(8,373,346
)
|
|
|||||||
|
|
|
|
|
|
|
|
72,827,772
|
31,623,232
|
120,119,917
|
285,231,186
|
12,513,585
|
79,391,146
|
279,923,403
|
125,554,676
|
(53,207,747
)
|
(14,943,882
)
|
(403,503,870
)
|
(717,271,062
)
|
(32,834,885
)
|
(113,732,649
)
|
(254,578,833
)
|
(213,394,672
)
|
19,620,025
|
16,679,350
|
(283,383,953
)
|
(432,039,876
)
|
(20,321,300
)
|
(34,341,503
)
|
25,344,570
|
(87,839,996
)
|
42,707,803
|
(3,452,695
)
|
(434,451,484
)
|
(1,250,157,576
)
|
(9,885,103
)
|
(103,210,755
)
|
267,474,133
|
(356,009,856
)
|
|
|||||||
|
|
|
|
|
|
|
|
133,682,350
|
137,135,045
|
1,573,503,896
|
2,823,661,472
|
133,098,356
|
236,309,111
|
1,249,781,074
|
1,605,790,930
|
$176,390,153
|
$133,682,350
|
$1,139,052,412
|
$1,573,503,896
|
$123,213,253
|
$133,098,356
|
$1,517,255,207
|
$1,249,781,074
|
|
|||||||
|
|
|
|
|
|
|
|
1,750,002
|
1,550,002
|
33,350,002
|
41,550,002
|
5,550,002
|
7,250,002
|
15,750,002
|
16,950,002
|
900,000
|
400,000
|
2,600,000
|
4,650,000
|
500,000
|
2,700,000
|
3,300,000
|
1,550,000
|
(650,000
)
|
(200,000
)
|
(8,950,000
)
|
(12,850,000
)
|
(1,350,000
)
|
(4,400,000
)
|
(3,050,000
)
|
(2,750,000
)
|
2,000,002
|
1,750,002
|
27,000,002
|
33,350,002
|
4,700,002
|
5,550,002
|
16,000,002
|
15,750,002
|
|
First Trust Natural Gas ETF
(FCG)
|
First Trust NASDAQ® ABA
Community Bank Index Fund
(QABA)
|
||
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
OPERATIONS:
|
|
|
|
|
Net investment income (loss)
|
$14,382,448
|
$22,056,076
|
$2,381,995
|
$2,504,493
|
Net realized gain (loss)
|
49,190,277
|
141,222,022
|
(19,168,464
)
|
(402,926
)
|
Net change in unrealized appreciation (depreciation)
|
(65,692,591
)
|
(5,986,689
)
|
1,927,761
|
(18,078,803
)
|
Net increase (decrease) in net assets resulting from
operations
|
(2,119,866
)
|
157,291,409
|
(14,858,708
)
|
(15,977,236
)
|
|
||||
DISTRIBUTIONS TO SHAREHOLDERS FROM:
|
|
|
|
|
Investment operations
|
(17,277,389
)
|
(25,396,449
)
|
(2,475,883
)
|
(2,513,482
)
|
|
||||
SHAREHOLDER TRANSACTIONS:
|
|
|
|
|
Proceeds from shares sold
|
61,796,633
|
843,634,059
|
31,219,646
|
136,483,565
|
Cost of shares redeemed
|
(454,182,180
)
|
(510,610,575
)
|
(108,833,123
)
|
(48,799,730
)
|
Net increase (decrease) in net assets resulting from
shareholder transactions
|
(392,385,547
)
|
333,023,484
|
(77,613,477
)
|
87,683,835
|
Total increase (decrease) in net assets
|
(411,782,802
)
|
464,918,444
|
(94,948,068
)
|
69,193,117
|
|
||||
NET ASSETS:
|
|
|
|
|
Beginning of period
|
888,143,698
|
423,225,254
|
187,139,741
|
117,946,624
|
End of period
|
$476,360,896
|
$888,143,698
|
$92,191,673
|
$187,139,741
|
|
||||
CHANGES IN SHARES OUTSTANDING:
|
|
|
|
|
Shares outstanding, beginning of period
|
36,248,365
|
24,648,365
|
3,550,002
|
2,000,002
|
Shares sold
|
2,500,000
|
33,450,000
|
650,000
|
2,450,000
|
Shares redeemed
|
(19,150,000
)
|
(21,850,000
)
|
(2,350,000
)
|
(900,000
)
|
Shares outstanding, end of period
|
19,598,365
|
36,248,365
|
1,850,002
|
3,550,002
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$88.69
|
$118.42
|
$100.88
|
$73.78
|
$54.61
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
0.85
(a)
|
0.60
|
0.28
|
0.34
|
0.36
|
Net realized and unrealized gain (loss)
|
28.80
|
(29.74
)
|
17.54
|
27.11
|
19.16
|
Total from investment operations
|
29.65
|
(29.14
)
|
17.82
|
27.45
|
19.52
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(0.82
)
|
(0.59
)
|
(0.28
)
|
(0.35
)
|
(0.35
)
|
Net asset value, end of period
|
$117.52
|
$88.69
|
$118.42
|
$100.88
|
$73.78
|
Total return (b)
|
33.51
%
|
(24.62
)%
|
17.67
%
|
37.35
%
|
35.78
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$2,262,276
|
$1,086,493
|
$1,391,414
|
$1,175,270
|
$907,438
|
Ratio of total expenses to average net assets
|
0.57
%
|
0.58
%
|
0.57
%
|
0.58
%
|
0.59
%
|
Ratio of net investment income (loss) to average net
assets
|
0.82
%
|
0.61
%
|
0.25
%
|
0.41
%
|
0.56
%
|
Portfolio turnover rate (c)
|
34
%
|
33
%
|
23
%
|
28
%
|
29
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$105.36
|
$175.32
|
$138.14
|
$100.08
|
$67.97
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
0.20
(a)
|
0.18
|
0.02
|
0.58
|
0.70
|
Net realized and unrealized gain (loss)
|
70.22
|
(69.98
)
|
37.19
|
38.09
|
32.09
|
Total from investment operations
|
70.42
|
(69.80
)
|
37.21
|
38.67
|
32.79
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(0.24
)
|
(0.16
)
|
(0.03
)
|
(0.61
)
|
(0.68
)
|
Net asset value, end of period
|
$175.54
|
$105.36
|
$175.32
|
$138.14
|
$100.08
|
Total return (b)
|
66.89
%
|
(39.81
)%
|
26.94
%
|
38.82
%
|
48.36
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$3,493,241
|
$1,359,137
|
$4,049,807
|
$3,349,911
|
$2,912,388
|
Ratio of total expenses to average net assets
|
0.57
%
|
0.57
%
|
0.56
%
|
0.57
%
|
0.57
%
|
Ratio of net investment income (loss) to average net
assets
|
0.14
%
|
0.12
%
|
0.01
%
|
0.50
%
|
0.82
%
|
Portfolio turnover rate (c)
|
36
%
|
28
%
|
25
%
|
31
%
|
23
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$76.39
|
$88.47
|
$79.43
|
$58.39
|
$45.66
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
0.96
(a)
|
0.66
|
0.35
|
0.22
|
0.20
|
Net realized and unrealized gain (loss)
|
11.81
|
(12.04
)
|
9.00
|
21.04
|
12.73
|
Total from investment operations
|
12.77
|
(11.38
)
|
9.35
|
21.26
|
12.93
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(0.97
)
|
(0.70
)
|
(0.31
)
|
(0.22
)
|
(0.20
)
|
Net asset value, end of period
|
$88.19
|
$76.39
|
$88.47
|
$79.43
|
$58.39
|
Total return (b)
|
16.77
%
|
(12.85
)%
|
11.80
%
|
36.48
%
|
28.35
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$176,390
|
$133,682
|
$137,135
|
$146,938
|
$102,183
|
Ratio of total expenses to average net assets
|
0.62
%
|
0.63
%
|
0.62
%
|
0.62
%
|
0.64
%
|
Ratio of net expenses to average net assets
|
0.60
%
|
0.60
%
|
0.60
%
|
0.60
%
|
0.60
%
|
Ratio of net investment income (loss) to average net assets
|
1.16
%
|
0.86
%
|
0.40
%
|
0.34
%
|
0.38
%
|
Portfolio turnover rate (c)
|
32
%
|
35
%
|
25
%
|
35
%
|
31
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year. The total returns would have
been lower if certain
fees had not been waived and expenses reimbursed by the investment advisor.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$47.18
|
$67.96
|
$70.17
|
$24.91
|
$17.63
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
0.22
(a)
|
0.07
|
(0.13
)
|
0.11
|
0.13
|
Net realized and unrealized gain (loss)
|
(4.89
)
|
(20.70
)
|
(2.07
)
|
45.36
|
7.36
|
Total from investment operations
|
(4.67
)
|
(20.63
)
|
(2.20
)
|
45.47
|
7.49
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(0.32
)
|
(0.15
)
|
(0.01
)
|
(0.21
)
|
(0.21
)
|
Net asset value, end of period
|
$42.19
|
$47.18
|
$67.96
|
$70.17
|
$24.91
|
Total return (b)
|
(9.98
)%
|
(30.37
)%
|
(3.14
)%
|
183.52
%
|
42.69
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$1,139,052
|
$1,573,504
|
$2,823,661
|
$1,999,803
|
$144,467
|
Ratio of total expenses to average net assets
|
0.59
%
|
0.58
%
|
0.58
%
|
0.60
%
|
0.63
%
|
Ratio of net expenses to average net assets
|
0.59
%
|
0.58
%
|
0.58
%
|
0.60
%
|
0.60
%
|
Ratio of net investment income (loss) to average net
assets
|
0.48
%
|
0.10
%
|
(0.24
)%
|
0.04
%
|
0.58
%
|
Portfolio turnover rate (c)
|
17
%
|
36
%
|
28
%
|
43
%
|
26
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year. The total returns would have
been lower if certain
fees had not been waived and expenses reimbursed by the investment advisor.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$23.98
|
$32.59
|
$23.23
|
$26.14
|
$21.63
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
0.83
(a)
|
0.53
|
0.50
|
0.52
|
0.56
|
Net realized and unrealized gain (loss)
|
2.26
|
(8.54
)
|
9.33
|
(2.72
)
|
4.55
|
Total from investment operations
|
3.09
|
(8.01
)
|
9.83
|
(2.20
)
|
5.11
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(0.85
)
|
(0.60
)
|
(0.47
)
|
(0.71
)
|
(0.60
)
|
Net asset value, end of period
|
$26.22
|
$23.98
|
$32.59
|
$23.23
|
$26.14
|
Total return (b)
|
13.10
%
|
(24.63
)%
|
42.52
%
|
(8.10
)%
|
23.67
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$123,213
|
$133,098
|
$236,309
|
$74,344
|
$198,642
|
Ratio of total expenses to average net assets
|
0.53
%
|
0.50
%
|
0.51
%
|
0.52
%
|
0.51
%
|
Ratio of net expenses to average net assets
|
0.50
%
|
0.50
%
|
0.50
%
|
0.50
%
|
0.50
%
|
Ratio of net investment income (loss) to average net assets
|
3.40
%
|
1.84
%
|
2.04
%
|
2.04
%
|
2.40
%
|
Portfolio turnover rate (c)
|
6
%
|
8
%
|
6
%
|
6
%
|
10
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year. The total returns would have
been lower if certain
fees had not been waived and expenses reimbursed by the investment advisor.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$79.35
|
$94.74
|
$72.13
|
$59.91
|
$43.96
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
0.63
(a)
|
0.53
|
0.36
|
0.38
|
0.32
|
Net realized and unrealized gain (loss)
|
15.50
|
(15.39
)
|
22.60
|
12.24
|
15.96
|
Total from investment operations
|
16.13
|
(14.86
)
|
22.96
|
12.62
|
16.28
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(0.65
)
|
(0.53
)
|
(0.35
)
|
(0.40
)
|
(0.33
)
|
Net asset value, end of period
|
$94.83
|
$79.35
|
$94.74
|
$72.13
|
$59.91
|
Total return (b)
|
20.39
%
|
(15.65
)%
|
31.89
%
|
21.20
%
|
37.11
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$1,517,255
|
$1,249,781
|
$1,605,791
|
$688,794
|
$536,168
|
Ratio of total expenses to average net assets
|
0.53
%
|
0.53
%
|
0.53
%
|
0.54
%
|
0.55
%
|
Ratio of net investment income (loss) to average net
assets
|
0.74
%
|
0.66
%
|
0.47
%
|
0.66
%
|
0.61
%
|
Portfolio turnover rate (c)
|
17
%
|
13
%
|
15
%
|
15
%
|
12
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$24.50
|
$17.17
|
$8.80
|
$12.05
|
$14.69
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
0.61
(a)
|
0.69
|
0.20
|
0.10
|
0.10
|
Net realized and unrealized gain (loss)
|
(0.01
)
|
7.38
|
8.47
|
(3.01
)
|
(2.39
)
|
Total from investment operations
|
0.60
|
8.07
|
8.67
|
(2.91
)
|
(2.29
)
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(0.79
)
|
(0.74
)
|
(0.30
)
|
—
|
(0.11
)
|
Return of capital
|
—
|
—
|
—
|
(0.34
)
|
(0.24
)
|
Total distributions
|
(0.79
)
|
(0.74
)
|
(0.30
)
|
(0.34
)
|
(0.35
)
|
Net asset value, end of period
|
$24.31
|
$24.50
|
$17.17
|
$8.80
|
$12.05
|
Total return (b)
|
2.55
%
|
47.27
%
|
98.69
%
|
(23.22
)%
|
(15.87
)%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$476,361
|
$888,144
|
$423,225
|
$103,429
|
$95,209
|
Ratio of total expenses to average net assets
|
0.60
%
|
0.60
%
|
0.62
% (c)
|
0.67
%
|
0.65
%
|
Ratio of net expenses to average net assets
|
0.60
%
|
0.60
%
|
0.61
% (c)
|
0.60
%
|
0.60
%
|
Ratio of net investment income (loss) to average net assets
|
2.51
%
|
2.82
%
|
1.41
%
|
1.48
%
|
0.65
%
|
Portfolio turnover rate (d)
|
27
%
|
39
%
|
42
%
|
103
%
|
61
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year. The total returns would have
been lower if certain
fees had not been waived and expenses reimbursed by the investment advisor.
|
(c)
|
For the year ended December 31, 2021, ratio reflects excise tax of 0.01%, which is not included in the expense cap.
|
(d)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$52.72
|
$58.97
|
$44.75
|
$51.91
|
$43.16
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
1.19
(a)
|
1.10
|
1.01
|
1.11
|
1.04
|
Net realized and unrealized gain (loss)
|
(2.73
)
|
(6.24
)
|
14.20
|
(7.13
)
|
8.72
|
Total from investment operations
|
(1.54
)
|
(5.14
)
|
15.21
|
(6.02
)
|
9.76
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(1.35
)
|
(1.11
)
|
(0.99
)
|
(1.14
)
|
(1.01
)
|
Net asset value, end of period
|
$49.83
|
$52.72
|
$58.97
|
$44.75
|
$51.91
|
Total return (b)
|
(2.44
)%
|
(8.70
)%
|
34.08
%
|
(11.00
)%
|
22.80
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$92,192
|
$187,140
|
$117,947
|
$85,020
|
$142,752
|
Ratio of total expenses to average net assets
|
0.67
%
|
0.62
%
|
0.63
%
|
0.64
%
|
0.60
%
|
Ratio of net expenses to average net assets
|
0.60
%
|
0.60
%
|
0.60
%
|
0.60
%
|
0.60
%
|
Ratio of net investment income (loss) to average net assets
|
2.61
%
|
2.11
%
|
1.82
%
|
2.75
%
|
1.98
%
|
Portfolio turnover rate (c)
|
24
%
|
18
%
|
23
%
|
14
%
|
15
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year. The total returns would have
been lower if certain
fees had not been waived and expenses reimbursed by the investment advisor.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
First Trust NASDAQ-100 Equal Weighted Index Fund – (Nasdaq, Inc. (“Nasdaq”) ticker “QQEW”)
|
First Trust NASDAQ-100-Technology Sector Index Fund – (Nasdaq ticker “QTEC”)
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund – (Nasdaq ticker “QQXT”)
|
First Trust NASDAQ® Clean Edge® Green Energy Index Fund – (Nasdaq ticker “QCLN”)
|
First Trust S&P REIT Index Fund – (NYSE Arca, Inc. (“NYSE Arca”) ticker “FRI”)
|
First Trust Water ETF – (NYSE Arca ticker “FIW”)
|
First Trust Natural Gas ETF – (NYSE Arca ticker “FCG”)
|
First Trust NASDAQ® ABA Community Bank Index Fund – (Nasdaq ticker “QABA”)
|
Fund
|
Index
|
First Trust NASDAQ-100 Equal Weighted Index Fund
|
Nasdaq-100 Equal WeightedTM Index
|
First Trust NASDAQ-100-Technology Sector Index Fund
|
Nasdaq-100 Technology SectorTM Index
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund
|
Nasdaq-100 Ex-Tech SectorTM Index
|
First Trust NASDAQ® Clean Edge® Green Energy Index Fund
|
Nasdaq® Clean Edge® Green EnergyTM Index
|
First Trust S&P REIT Index Fund
|
S&P United States REIT Index
|
First Trust Water ETF
|
ISE Clean Edge WaterTM Index
|
First Trust Natural Gas ETF
|
ISE-Revere Natural GasTM Index
|
First Trust NASDAQ® ABA Community Bank Index Fund
|
Nasdaq OMX® ABA Community BankTM Index
|
|
Distributions
paid from
Ordinary
Income
|
Distributions
paid from
Capital
Gains
|
Distributions
paid from
Return of
Capital
|
First Trust NASDAQ-100 Equal Weighted Index Fund
|
$14,296,112
|
$—
|
$—
|
First Trust NASDAQ-100-Technology Sector Index Fund
|
3,468,140
|
—
|
—
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund
|
1,980,762
|
—
|
—
|
First Trust NASDAQ® Clean Edge® Green Energy Index Fund
|
9,544,615
|
—
|
—
|
First Trust S&P REIT Index Fund
|
4,123,107
|
—
|
—
|
First Trust Water ETF
|
10,284,831
|
—
|
—
|
First Trust Natural Gas ETF
|
17,277,389
|
—
|
—
|
First Trust NASDAQ® ABA Community Bank Index Fund
|
2,475,883
|
—
|
—
|
|
Distributions
paid from
Ordinary
Income
|
Distributions
paid from
Capital
Gains
|
Distributions
paid from
Return of
Capital
|
First Trust NASDAQ-100 Equal Weighted Index Fund
|
$6,866,581
|
$—
|
$—
|
First Trust NASDAQ-100-Technology Sector Index Fund
|
2,234,346
|
—
|
—
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund
|
1,136,087
|
—
|
—
|
First Trust NASDAQ® Clean Edge® Green Energy Index Fund
|
5,415,781
|
—
|
—
|
First Trust S&P REIT Index Fund
|
4,101,541
|
—
|
—
|
First Trust Water ETF
|
8,373,346
|
—
|
—
|
First Trust Natural Gas ETF
|
25,396,449
|
—
|
—
|
First Trust NASDAQ® ABA Community Bank Index Fund
|
2,513,482
|
—
|
—
|
|
Undistributed
Ordinary
Income
|
Accumulated
Capital and
Other
Gain (Loss)
|
Net
Unrealized
Appreciation
(Depreciation)
|
First Trust NASDAQ-100 Equal Weighted Index Fund
|
$—
|
$(163,540,102
)
|
$406,421,381
|
First Trust NASDAQ-100-Technology Sector Index Fund
|
—
|
(453,846,896
)
|
636,244,430
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund
|
—
|
(21,074,113
)
|
21,875,881
|
First Trust NASDAQ® Clean Edge® Green Energy Index Fund
|
—
|
(425,003,827
)
|
(625,149,969
)
|
First Trust S&P REIT Index Fund
|
55,122
|
(691,561
)
|
(28,906,760
)
|
First Trust Water ETF
|
—
|
(54,205,045
)
|
229,844,104
|
First Trust Natural Gas ETF
|
—
|
(530,260,707
)
|
(50,976,440
)
|
First Trust NASDAQ® ABA Community Bank Index Fund
|
—
|
(20,605,691
)
|
(11,509,652
)
|
|
Non-Expiring
Capital Loss
Carryforwards
|
First Trust NASDAQ-100 Equal Weighted Index Fund
|
$163,540,102
|
First Trust NASDAQ-100-Technology Sector Index Fund
|
453,846,896
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund
|
21,074,113
|
First Trust NASDAQ® Clean Edge® Green Energy Index Fund
|
425,003,827
|
First Trust S&P REIT Index Fund
|
691,561
|
First Trust Water ETF
|
54,205,045
|
First Trust Natural Gas ETF
|
530,260,707
|
First Trust NASDAQ® ABA Community Bank Index Fund
|
20,605,691
|
|
Accumulated
Net Investment
Income (Loss)
|
Accumulated
Net Realized
Gain (Loss)
on Investments
|
Paid-In
Capital
|
First Trust NASDAQ-100 Equal Weighted Index Fund
|
$155,339
|
$(47,041,561
)
|
$46,886,222
|
First Trust NASDAQ-100-Technology Sector Index Fund
|
226,508
|
(122,050,171
)
|
121,823,663
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund
|
8,735
|
(14,712,961
)
|
14,704,226
|
First Trust NASDAQ® Clean Edge® Green Energy Index Fund
|
3,509,736
|
1,326,964
|
(4,836,700
)
|
First Trust S&P REIT Index Fund
|
—
|
5,740,155
|
(5,740,155
)
|
First Trust Water ETF
|
63,771
|
(86,884,855
)
|
86,821,084
|
First Trust Natural Gas ETF
|
(2,327,263
)
|
(51,109,184
)
|
53,436,447
|
First Trust NASDAQ® ABA Community Bank Index Fund
|
64,458
|
13,137,521
|
(13,201,979
)
|
|
Tax Cost
|
Gross
Unrealized
Appreciation
|
Gross
Unrealized
(Depreciation)
|
Net Unrealized
Appreciation
(Depreciation)
|
First Trust NASDAQ-100 Equal Weighted Index Fund
|
$1,898,223,826
|
$483,377,313
|
$(76,955,932
)
|
$406,421,381
|
First Trust NASDAQ-100-Technology Sector Index Fund
|
2,941,915,690
|
693,684,622
|
(57,440,192
)
|
636,244,430
|
First Trust NASDAQ-100 Ex-Technology Sector Index
Fund
|
157,364,003
|
31,032,930
|
(9,157,049
)
|
21,875,881
|
|
Tax Cost
|
Gross
Unrealized
Appreciation
|
Gross
Unrealized
(Depreciation)
|
Net Unrealized
Appreciation
(Depreciation)
|
First Trust NASDAQ® Clean Edge® Green Energy Index
Fund
|
$1,870,916,217
|
$115,556,121
|
$(740,706,090
)
|
$(625,149,969
)
|
First Trust S&P REIT Index Fund
|
151,613,308
|
1,842,624
|
(30,749,384
)
|
(28,906,760
)
|
First Trust Water ETF
|
1,310,198,301
|
297,064,285
|
(67,220,181
)
|
229,844,104
|
First Trust Natural Gas ETF
|
532,893,553
|
14,716,810
|
(65,694,294
)
|
(50,977,484
)
|
First Trust NASDAQ® ABA Community Bank Index
Fund
|
104,716,013
|
1,482,472
|
(12,992,124
)
|
(11,509,652
)
|
Fund
|
Licensor
|
First Trust NASDAQ-100 Equal Weighted Index Fund
|
Nasdaq, Inc.
|
First Trust NASDAQ-100-Technology Sector Index Fund
|
Nasdaq, Inc.
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund
|
Nasdaq, Inc.
|
First Trust NASDAQ® Clean Edge® Green Energy Index Fund
|
Nasdaq, Inc. and Clean Edge®
|
First Trust S&P REIT Index Fund
|
S&P Dow Jones Indices LLC
|
First Trust Water ETF
|
International Securities Exchange, LLC
|
First Trust Natural Gas ETF
|
International Securities Exchange, LLC
|
First Trust NASDAQ® ABA Community Bank Index Fund
|
Nasdaq, Inc. and American Bankers Association
|
Breakpoints
|
QQEW
|
QTEC
|
QQXT
|
QCLN
|
FRI
|
FIW
|
FCG
|
QABA
|
Fund net assets up to and including $2.5 billion
|
0.40
%
|
0.40
%
|
0.40
%
|
0.40
%
|
0.3000
%
|
0.40
%
|
0.40
%
|
0.40
%
|
Fund net assets greater than $2.5 billion up to and
including $5 billion
|
0.39
%
|
0.39
%
|
0.39
%
|
0.39
%
|
0.2925
%
|
0.39
%
|
0.39
%
|
0.39
%
|
Fund net assets greater than $5 billion up to and
including $7.5 billion
|
0.38
%
|
0.38
%
|
0.38
%
|
0.38
%
|
0.2850
%
|
0.38
%
|
0.38
%
|
0.38
%
|
Fund net assets greater than $7.5 billion up to and
including $10 billion
|
0.37
%
|
0.37
%
|
0.37
%
|
0.37
%
|
0.2775
%
|
0.37
%
|
0.37
%
|
0.37
%
|
Fund net assets greater than $10 billion up to and
including $15 billion
|
0.36
%
|
0.36
%
|
0.36
%
|
0.36
%
|
0.2700
%
|
0.36
%
|
0.36
%
|
0.36
%
|
Fund net assets greater than $15 billion
|
0.34
%
|
0.34
%
|
0.34
%
|
0.34
%
|
0.2550
%
|
0.34
%
|
0.34
%
|
0.34
%
|
|
Expense Cap
|
First Trust NASDAQ-100 Equal Weighted Index Fund
|
0.60
%
|
First Trust NASDAQ-100-Technology Sector Index Fund
|
0.60
%
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund
|
0.60
%
|
First Trust NASDAQ® Clean Edge® Green Energy Index Fund
|
0.60
%
|
First Trust S&P REIT Index Fund
|
0.50
%
|
First Trust Water ETF
|
0.60
%
|
First Trust Natural Gas ETF
|
0.60
%
|
First Trust NASDAQ® ABA Community Bank Index Fund
|
0.60
%
|
|
Purchases
|
Sales
|
First Trust NASDAQ-100 Equal Weighted Index Fund
|
$582,040,079
|
$583,379,549
|
First Trust NASDAQ-100-Technology Sector Index Fund
|
772,023,401
|
770,882,981
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund
|
53,525,840
|
53,736,812
|
First Trust NASDAQ® Clean Edge® Green Energy Index Fund
|
248,536,754
|
249,524,253
|
First Trust S&P REIT Index Fund
|
7,880,509
|
7,302,530
|
First Trust Water ETF
|
225,827,609
|
226,015,305
|
First Trust Natural Gas ETF
|
157,624,767
|
160,381,300
|
First Trust NASDAQ® ABA Community Bank Index Fund
|
23,171,565
|
23,009,453
|
|
Purchases
|
Sales
|
First Trust NASDAQ-100 Equal Weighted Index Fund
|
$867,701,445
|
$158,368,178
|
First Trust NASDAQ-100-Technology Sector Index Fund
|
1,511,957,179
|
435,738,685
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund
|
72,737,201
|
53,133,322
|
First Trust NASDAQ® Clean Edge® Green Energy Index Fund
|
120,026,197
|
403,219,676
|
First Trust S&P REIT Index Fund
|
12,462,510
|
32,768,027
|
First Trust Water ETF
|
279,564,270
|
254,401,158
|
|
Purchases
|
Sales
|
First Trust Natural Gas ETF
|
$61,687,888
|
$453,148,019
|
First Trust NASDAQ® ABA Community Bank Index Fund
|
30,814,637
|
108,562,777
|
|
Dividends Received
Deduction
|
First Trust NASDAQ-100 Equal Weighted Index Fund
|
100.00
%
|
First Trust NASDAQ-100-Technology Sector Index Fund
|
100.00
%
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund
|
100.00
%
|
First Trust NASDAQ® Clean Edge® Green Energy Index
Fund
|
28.31
%
|
First Trust S&P REIT Index Fund
|
0.00
%
|
First Trust Water ETF
|
100.00
%
|
First Trust Natural Gas ETF
|
91.47
%
|
First Trust NASDAQ® ABA Community Bank Index Fund
|
100.00
%
|
|
Qualified Dividend
Income
|
First Trust NASDAQ-100 Equal Weighted Index Fund
|
100.00
%
|
First Trust NASDAQ-100-Technology Sector Index Fund
|
100.00
%
|
First Trust NASDAQ-100 Ex-Technology Sector Index Fund
|
100.00
%
|
First Trust NASDAQ® Clean Edge® Green Energy Index
Fund
|
45.83
%
|
First Trust S&P REIT Index Fund
|
0.00
%
|
First Trust Water ETF
|
100.00
%
|
First Trust Natural Gas ETF
|
100.00
%
|
First Trust NASDAQ® ABA Community Bank Index Fund
|
100.00
%
|
Name,
Year of Birth and
Position with the Trust
|
Term of Office
and Year First
Elected or
Appointed
|
Principal Occupations
During Past 5 Years
|
Number of
Portfolios in
the First Trust
Fund Complex
Overseen by
Trustee
|
Other
Trusteeships or
Directorships
Held by Trustee
During Past
5 Years
|
INDEPENDENT TRUSTEES
|
||||
Richard E. Erickson, Trustee
(1951)
|
• Indefinite Term
• Since Inception
|
Retired; Physician, Edward-Elmhurst
Medical Group (2021 to September
2023); Physician and Officer,
Wheaton Orthopedics (1990 to 2021)
|
257
|
None
|
Thomas R. Kadlec, Trustee
(1957)
|
• Indefinite Term
• Since Inception
|
Retired; President, ADM Investors
Services, Inc. (Futures Commission
Merchant) (2010 to July 2022)
|
257
|
Director, National Futures
Association and ADMIS
Singapore Ltd.; Formerly,
Director of ADM Investor
Services, Inc., ADM Investor
Services International,
ADMIS Hong Kong Ltd., and
Futures Industry Association
|
Denise M. Keefe, Trustee
(1964)
|
• Indefinite Term
• Since 2021
|
Executive Vice President, Advocate
Aurora Health and President,
Advocate Aurora Continuing Health
Division (Integrated Healthcare
System)
|
257
|
Director and Board Chair of
Advocate Home Health
Services, Advocate Home
Care Products and Advocate
Hospice; Director and Board
Chair of Aurora At Home
(since 2018); Director of
Advocate Physician Partners
Accountable Care
Organization; Director of
RML Long Term Acute Care
Hospitals; Director of Senior
Helpers (since 2021); and
Director of MobileHelp
(since 2022)
|
Robert F. Keith, Trustee
(1956)
|
• Indefinite Term
• Since Inception
|
President, Hibs Enterprises (Financial
and Management Consulting)
|
257
|
Formerly, Director of Trust
Company of Illinois
|
Niel B. Nielson, Trustee
(1954)
|
• Indefinite Term
• Since Inception
|
Senior Advisor (2018 to Present),
Managing Director and Chief
Operating Officer (2015 to 2018),
Pelita Harapan Educational
Foundation (Educational Products
and Services)
|
257
|
None
|
|
||||
INTERESTED TRUSTEE
|
||||
James A. Bowen(1), Trustee,
Chairman of the Board
(1955)
|
• Indefinite Term
• Since Inception
|
Chief Executive Officer, First Trust
Advisors L.P. and First Trust
Portfolios L.P., Chairman of the
Board of Directors, BondWave LLC
(Software Development Company)
and Stonebridge Advisors LLC
(Investment Advisor)
|
257
|
None
|
Name and
Year of Birth
|
Position
and Offices
with Trust
|
Term of
Year First Elected or
Appointed
|
Principal Occupations
During Past 5 Years
|
ADVISORY BOARD OF THE TRUST
|
|||
Bronwyn Wright
(1971)
|
Advisory Board Member
|
• Indefinite term
• Since 2023
|
Independent Director to a number of Irish collective investment
funds (2009 to Present); Various roles at international affiliates of
Citibank (1994 to 2009), including Managing Director, Citibank
Europe plc and Head of Securities and Fund Services, Citi Ireland
(2007 to 2009)
|
Name and
Year of Birth
|
Position and
Offices
with Trust
|
Term of Office
and Length of
Service
|
Principal Occupations
During Past 5 Years
|
OFFICERS(2)
|
|||
James M. Dykas
(1966)
|
President and Chief
Executive Officer
|
• Indefinite Term
• Since 2016
|
Managing Director and Chief Financial Officer, First Trust
Advisors L.P. and First Trust Portfolios L.P.; Chief Financial
Officer, BondWave LLC (Software Development Company) and
Stonebridge Advisors LLC (Investment Advisor)
|
Derek D. Maltbie
(1972)
|
Treasurer, Chief Financial
Officer and Chief
Accounting Officer
|
• Indefinite Term
• Since 2023
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P., July 2021 to Present. Previously, Vice President,
First Trust Advisors L.P. and First Trust Portfolios L.P., 2014 -
2021.
|
W. Scott Jardine
(1960)
|
Secretary and Chief Legal
Officer
|
• Indefinite Term
• Since Inception
|
General Counsel, First Trust Advisors L.P. and First Trust
Portfolios L.P.; Secretary and General Counsel, BondWave LLC;
Secretary, Stonebridge Advisors LLC
|
Daniel J. Lindquist
(1970)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Managing Director, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
Kristi A. Maher
(1966)
|
Chief Compliance Officer
and Assistant Secretary
|
• Indefinite Term
• Chief Compliance
Officer Since
January 2011
• Assistant Secretary
Since Inception
|
Deputy General Counsel, First Trust Advisors L.P. and First
Trust Portfolios L.P.
|
Roger F. Testin
(1966)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
Stan Ueland
(1970)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
Annual Report
|
For the Period Ended
December 31, 2023
|
First Trust Dividend Strength ETF (FTDS)
|
First Trust Dow 30 Equal Weight ETF (EDOW)
|
First Trust Lunt U.S. Factor Rotation ETF (FCTR)
|
First Trust S&P 500 Diversified Free Cash Flow ETF (FCFY)
|
2
|
|
3
|
|
4
|
|
6
|
|
8
|
|
10
|
|
12
|
|
13
|
|
14
|
|
16
|
|
17
|
|
21
|
|
24
|
|
25
|
|
26
|
|
28
|
|
32
|
|
41
|
|
42
|
|
48
|
|
50
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(12/5/06)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(12/5/06)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
11.84%
|
11.45%
|
7.45%
|
6.47%
|
71.96%
|
105.12%
|
191.75%
|
Market Price
|
11.66%
|
11.45%
|
7.45%
|
6.47%
|
71.97%
|
105.06%
|
191.72%
|
Index Performance
|
|
|
|
|
|
|
|
The Dividend StrengthTM Index(1)(2)
|
12.63%
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
S&P 500® Index(3)
|
26.29%
|
15.69%
|
12.03%
|
9.54%
|
107.21%
|
211.49%
|
374.24%
|
Dow Jones U.S. Select Dividend Index
|
1.53%
|
10.05%
|
9.26%
|
7.41%
|
61.40%
|
142.54%
|
238.68%
|
Russell 1000® Value Index
|
11.46%
|
10.91%
|
8.40%
|
6.84%
|
67.79%
|
123.99%
|
209.16%
|
(1)
|
On April 29, 2022, the Fund’s underlying index changed from the Nasdaq AlphaDEX® Total US Market Index to The Dividend StrengthTM
Index. Therefore, the Fund’s performance and total returns shown are not necessarily indicative of the performance the Fund, based on its current
index, would have generated.
|
(2)
|
Because the Fund’s underlying index has an inception date of March 7, 2022, performance data for the Index is not available for all periods
shown in the table because performance data does not exist for some of the entire periods.
|
(3)
|
The S&P 500® Index will serve as the Fund’s new primary benchmark index. The Fund’s portfolio managers believe that the S&P 500® Index
provides a more appropriate comparison to Fund returns.
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Financials
|
27.9%
|
Industrials
|
22.3
|
Energy
|
13.6
|
Information Technology
|
10.9
|
Consumer Discretionary
|
10.3
|
Materials
|
5.6
|
Consumer Staples
|
5.2
|
Real Estate
|
2.2
|
Health Care
|
2.0
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Zions Bancorp N.A.
|
2.6%
|
East West Bancorp, Inc.
|
2.5
|
Regions Financial Corp.
|
2.4
|
QUALCOMM, Inc.
|
2.4
|
SouthState Corp.
|
2.3
|
Williams-Sonoma, Inc.
|
2.3
|
Texas Roadhouse, Inc.
|
2.3
|
Cullen/Frost Bankers, Inc.
|
2.2
|
Commerce Bancshares, Inc.
|
2.2
|
PACCAR, Inc.
|
2.2
|
Total
|
23.4%
|
|
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.
|
Performance
|
|||||
|
|
Average Annual Total
Returns
|
Cumulative Total Returns
|
||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
Inception
(8/8/17)
to 12/31/23
|
5 Years
Ended
12/31/23
|
Inception
(8/8/17)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
NAV
|
15.74%
|
10.92%
|
10.07%
|
67.91%
|
84.79%
|
Market Price
|
15.81%
|
10.95%
|
10.08%
|
68.12%
|
84.84%
|
Index Performance
|
|
|
|
|
|
Dow Jones Industrial Average® Equal Weight Index
|
16.37%
|
11.61%
|
10.72%
|
73.17%
|
91.86%
|
Dow Jones Industrial AverageTM
|
16.18%
|
12.47%
|
11.12%
|
80.00%
|
96.36%
|
S&P 500® Index
|
26.29%
|
15.69%
|
12.78%
|
107.21%
|
115.79%
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Information Technology
|
20.0%
|
Financials
|
17.1
|
Industrials
|
13.8
|
Consumer Staples
|
13.4
|
Health Care
|
13.1
|
Consumer Discretionary
|
9.7
|
Communication Services
|
6.2
|
Materials
|
3.4
|
Energy
|
3.3
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Intel Corp.
|
3.8%
|
Caterpillar, Inc.
|
3.6
|
Walgreens Boots Alliance, Inc.
|
3.6
|
American Express Co.
|
3.5
|
Goldman Sachs Group (The), Inc.
|
3.5
|
Honeywell International, Inc.
|
3.4
|
Dow, Inc.
|
3.4
|
JPMorgan Chase & Co.
|
3.4
|
Amgen, Inc.
|
3.4
|
Boeing (The) Co.
|
3.4
|
Total
|
35.0%
|
|
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.
|
Performance
|
|||||
|
|
Average Annual Total
Returns
|
Cumulative Total Returns
|
||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
Inception
(7/25/18)
to 12/31/23
|
5 Years
Ended
12/31/23
|
Inception
(7/25/18)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
NAV
|
0.68%
|
10.49%
|
7.05%
|
64.70%
|
44.78%
|
Market Price
|
0.61%
|
10.49%
|
7.04%
|
64.64%
|
44.73%
|
Index Performance
|
|
|
|
|
|
Lunt Capital Large Cap Factor Rotation Index
|
1.45%
|
11.34%
|
7.85%
|
71.09%
|
50.77%
|
Nasdaq US 500 Large CapTM Index
|
27.14%
|
15.74%
|
11.89%
|
107.67%
|
84.20%
|
S&P 500® Index
|
26.29%
|
15.69%
|
11.89%
|
107.21%
|
84.16%
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Information Technology
|
36.3%
|
Consumer Discretionary
|
14.2
|
Financials
|
12.8
|
Industrials
|
10.1
|
Health Care
|
9.8
|
Communication Services
|
8.6
|
Materials
|
3.1
|
Consumer Staples
|
1.8
|
Real Estate
|
1.4
|
Energy
|
1.4
|
Utilities
|
0.5
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
NVIDIA Corp.
|
2.7%
|
Royal Caribbean Cruises Ltd.
|
2.3
|
Apollo Global Management, Inc.
|
2.1
|
Builders FirstSource, Inc.
|
1.8
|
Broadcom, Inc.
|
1.7
|
DraftKings, Inc., Class A
|
1.7
|
ROBLOX Corp., Class A
|
1.7
|
Fair Isaac Corp.
|
1.5
|
Insulet Corp.
|
1.5
|
Alnylam Pharmaceuticals, Inc.
|
1.5
|
Total
|
18.5%
|
|
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.
|
Performance
|
|
|
Cumulative
Total Returns
|
|
Inception
(8/23/23)
to 12/31/23
|
Fund Performance
|
|
NAV
|
10.23%
|
Market Price
|
10.23%
|
Index Performance
|
|
S&P 500® Sector-Neutral FCF Index
|
10.48%
|
S&P 500® Index
|
8.15%
|
Sector Allocation
|
% of Total
Long-Term
Investments
|
Information Technology
|
27.4%
|
Financials
|
14.4
|
Consumer Discretionary
|
12.5
|
Health Care
|
12.3
|
Industrials
|
8.2
|
Communication Services
|
8.0
|
Consumer Staples
|
6.1
|
Energy
|
4.0
|
Real Estate
|
2.6
|
Materials
|
2.3
|
Utilities
|
2.2
|
Total
|
100.0%
|
Top Ten Holdings
|
% of Total
Long-Term
Investments
|
Skyworks Solutions, Inc.
|
2.8%
|
HP, Inc.
|
2.6
|
Cisco Systems, Inc.
|
2.5
|
Live Nation Entertainment, Inc.
|
2.3
|
NetApp, Inc.
|
2.2
|
Fox Corp., Class A
|
2.2
|
F5, Inc.
|
2.2
|
Humana, Inc.
|
2.1
|
Microchip Technology, Inc.
|
2.1
|
Cognizant Technology Solutions Corp.,
Class A
|
2.0
|
Total
|
23.0%
|
|
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.
|
|
Beginning
Account Value
July 1, 2023
|
Ending
Account Value
December 31, 2023
|
Annualized
Expense Ratio
Based on the
Six-Month
Period
|
Expenses Paid
During the
Six-Month
Period (a)
|
First Trust Dividend Strength ETF (FTDS)
|
||||
Actual
|
$1,000.00
|
$1,114.90
|
0.70%
(b)
|
$3.73
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,021.68
|
0.70%
(b)
|
$3.57
|
First Trust Dow 30 Equal Weight ETF (EDOW)
|
||||
Actual
|
$1,000.00
|
$1,095.70
|
0.50%
|
$2.64
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.68
|
0.50%
|
$2.55
|
First Trust Lunt U.S. Factor Rotation ETF (FCTR)
|
||||
Actual
|
$1,000.00
|
$1,061.30
|
0.65%
|
$3.38
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,021.93
|
0.65%
|
$3.31
|
|
Beginning
Account Value
August 23, 2023 (c)
|
Ending
Account Value
December 31, 2023
|
Annualized
Expense Ratio
Based on the
Number of Days
in the Period
|
Expenses Paid
During the Period
August 23, 2023 (c)
to
December 31, 2023 (d)
|
First Trust S&P 500 Diversified Free Cash Flow ETF (FCFY)
|
||||
Actual
|
$1,000.00
|
$1,102.30
|
0.60%
|
$2.26
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,022.18
|
0.60%
|
$3.06
|
(a)
|
Expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value over
the period (July 1, 2023
through December 31, 2023), multiplied by 184/365 (to reflect the six-month period).
|
(b)
|
These expense ratios reflect an expense cap. See Note 3 in the Notes to Financial Statements.
|
(c)
|
Inception date.
|
(d)
|
Actual expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value
over the period
(August 23, 2023 through December 31, 2023), multiplied by 131/365. Hypothetical expenses are assumed for the most recent
six-month period.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.9%
|
|||||
|
Aerospace & Defense — 5.9%
|
|
|||
1,576
|
General Dynamics Corp.
|
$409,240
|
|||
1,690
|
Huntington Ingalls Industries,
Inc.
|
438,792
|
|||
834
|
Lockheed Martin Corp.
|
378,002
|
|||
|
|
1,226,034
|
|||
|
Banks — 16.3%
|
|
|||
8,579
|
Commerce Bancshares, Inc.
|
458,204
|
|||
4,300
|
Cullen/Frost Bankers, Inc.
|
466,507
|
|||
7,191
|
East West Bancorp, Inc.
|
517,393
|
|||
3,254
|
M&T Bank Corp.
|
446,058
|
|||
25,638
|
Regions Financial Corp.
|
496,864
|
|||
5,647
|
SouthState Corp.
|
476,889
|
|||
12,357
|
Zions Bancorp N.A.
|
542,102
|
|||
|
|
3,404,017
|
|||
|
Building Products — 2.1%
|
|
|||
7,600
|
Johnson Controls
International PLC
|
438,064
|
|||
|
Capital Markets — 2.1%
|
|
|||
6,416
|
Stifel Financial Corp.
|
443,666
|
|||
|
Chemicals — 5.6%
|
|
|||
5,530
|
FMC Corp.
|
348,667
|
|||
10,455
|
Mosaic (The) Co.
|
373,557
|
|||
2,968
|
PPG Industries, Inc.
|
443,864
|
|||
|
|
1,166,088
|
|||
|
Distributors — 1.9%
|
|
|||
2,878
|
Genuine Parts Co.
|
398,603
|
|||
|
Food Products — 5.2%
|
|
|||
5,082
|
Archer-Daniels-Midland Co.
|
367,022
|
|||
3,644
|
Bunge Global S.A.
|
367,862
|
|||
1,939
|
Hershey (The) Co.
|
361,507
|
|||
|
|
1,096,391
|
|||
|
Ground Transportation —
4.1%
|
|
|||
1,835
|
Norfolk Southern Corp.
|
433,758
|
|||
1,752
|
Union Pacific Corp.
|
430,326
|
|||
|
|
864,084
|
|||
|
Health Care Providers &
Services — 2.0%
|
|
|||
2,992
|
Quest Diagnostics, Inc.
|
412,537
|
|||
|
Hotels, Restaurants & Leisure
— 4.2%
|
|
|||
3,849
|
Texas Roadhouse, Inc.
|
470,463
|
|||
5,026
|
Wyndham Hotels & Resorts, Inc.
|
404,141
|
|||
|
|
874,604
|
|||
|
Insurance — 9.5%
|
|
|||
4,772
|
Aflac, Inc.
|
393,690
|
|||
3,754
|
Cincinnati Financial Corp.
|
388,389
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Insurance (Continued)
|
|
|||
5,260
|
Hartford Financial Services
Group (The), Inc.
|
$422,799
|
|||
2,291
|
Travelers (The) Cos., Inc.
|
436,412
|
|||
7,565
|
Unum Group
|
342,089
|
|||
|
|
1,983,379
|
|||
|
Machinery — 8.0%
|
|
|||
3,270
|
AGCO Corp.
|
397,010
|
|||
1,689
|
Cummins, Inc.
|
404,634
|
|||
4,691
|
PACCAR, Inc.
|
458,076
|
|||
1,464
|
Snap-on, Inc.
|
422,862
|
|||
|
|
1,682,582
|
|||
|
Oil, Gas & Consumable Fuels
— 13.6%
|
|
|||
2,219
|
Chevron Corp.
|
330,986
|
|||
2,984
|
ConocoPhillips
|
346,353
|
|||
12,797
|
Coterra Energy, Inc.
|
326,579
|
|||
7,662
|
Devon Energy Corp.
|
347,089
|
|||
2,224
|
Diamondback Energy, Inc.
|
344,898
|
|||
2,798
|
EOG Resources, Inc.
|
338,418
|
|||
6,592
|
HF Sinclair Corp.
|
366,317
|
|||
3,261
|
Phillips 66
|
434,170
|
|||
|
|
2,834,810
|
|||
|
Professional Services — 2.1%
|
|
|||
5,026
|
Robert Half, Inc.
|
441,886
|
|||
|
Semiconductors &
Semiconductor Equipment
— 10.9%
|
|
|||
2,223
|
Analog Devices, Inc.
|
441,399
|
|||
4,913
|
Microchip Technology, Inc.
|
443,054
|
|||
1,993
|
NXP Semiconductors N.V.
|
457,752
|
|||
3,408
|
QUALCOMM, Inc.
|
492,899
|
|||
4,016
|
Skyworks Solutions, Inc.
|
451,479
|
|||
|
|
2,286,583
|
|||
|
Specialized REITs — 2.2%
|
|
|||
1,474
|
Public Storage
|
449,570
|
|||
|
Specialty Retail — 4.2%
|
|
|||
1,896
|
Tractor Supply Co.
|
407,697
|
|||
2,356
|
Williams-Sonoma, Inc.
|
475,394
|
|||
|
|
883,091
|
|||
|
Total Common Stocks
|
20,885,989
|
|||
|
(Cost $19,386,809)
|
|
Shares
|
Description
|
Value
|
|||
MONEY MARKET FUNDS — 0.1%
|
|||||
29,233
|
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
5.22% (a)
|
$29,233
|
|||
|
(Cost $29,233)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 100.0%
|
20,915,222
|
|||
|
(Cost $19,416,042)
|
|
|||
|
Net Other Assets and
Liabilities — (0.0)%
|
(7,065
)
|
|||
|
Net Assets — 100.0%
|
$20,908,157
|
(a)
|
Rate shown reflects yield as of December 31, 2023.
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common Stocks*
|
$ 20,885,989
|
$ 20,885,989
|
$ —
|
$ —
|
Money Market Funds
|
29,233
|
29,233
|
—
|
—
|
Total Investments
|
$20,915,222
|
$20,915,222
|
$—
|
$—
|
*
|
See Portfolio of Investments for industry breakout.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 100.0%
|
|||||
|
Aerospace & Defense — 3.4%
|
|
|||
32,524
|
Boeing (The) Co. (a)
|
$8,477,706
|
|||
|
Banks — 3.4%
|
|
|||
50,210
|
JPMorgan Chase & Co.
|
8,540,721
|
|||
|
Beverages — 3.2%
|
|
|||
135,796
|
Coca-Cola (The) Co.
|
8,002,458
|
|||
|
Biotechnology — 3.4%
|
|
|||
29,576
|
Amgen, Inc.
|
8,518,480
|
|||
|
Capital Markets — 3.5%
|
|
|||
22,688
|
Goldman Sachs Group (The),
Inc.
|
8,752,350
|
|||
|
Chemicals — 3.4%
|
|
|||
156,305
|
Dow, Inc.
|
8,571,766
|
|||
|
Communications Equipment
— 3.3%
|
|
|||
164,510
|
Cisco Systems, Inc.
|
8,311,045
|
|||
|
Consumer Finance — 3.6%
|
|
|||
47,254
|
American Express Co.
|
8,852,564
|
|||
|
Consumer Staples Distribution
& Retail — 6.9%
|
|
|||
343,655
|
Walgreens Boots Alliance, Inc.
|
8,972,832
|
|||
52,758
|
Walmart, Inc.
|
8,317,299
|
|||
|
|
17,290,131
|
|||
|
Diversified Telecommunication
Services — 3.1%
|
|
|||
208,083
|
Verizon Communications, Inc.
|
7,844,729
|
|||
|
Entertainment — 3.1%
|
|
|||
85,746
|
Walt Disney (The) Co.
|
7,742,006
|
|||
|
Financial Services — 3.3%
|
|
|||
31,124
|
Visa, Inc., Class A
|
8,103,133
|
|||
|
Health Care Providers &
Services — 3.1%
|
|
|||
14,475
|
UnitedHealth Group, Inc.
|
7,620,653
|
|||
|
Hotels, Restaurants & Leisure
— 3.3%
|
|
|||
27,876
|
McDonald’s Corp.
|
8,265,513
|
|||
|
Household Products — 3.2%
|
|
|||
54,836
|
Procter & Gamble (The) Co.
|
8,035,667
|
|||
|
Industrial Conglomerates —
6.8%
|
|
|||
76,998
|
3M Co.
|
8,417,421
|
|||
40,900
|
Honeywell International, Inc.
|
8,577,139
|
|||
|
|
16,994,560
|
|||
|
Insurance — 3.4%
|
|
|||
43,910
|
Travelers (The) Cos., Inc.
|
8,364,416
|
|||
|
IT Services — 3.2%
|
|
|||
49,144
|
International Business Machines
Corp.
|
8,037,501
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Machinery — 3.6%
|
|
|||
30,668
|
Caterpillar, Inc.
|
$9,067,608
|
|||
|
Oil, Gas & Consumable Fuels
— 3.3%
|
|
|||
55,151
|
Chevron Corp.
|
8,226,323
|
|||
|
Pharmaceuticals — 6.6%
|
|
|||
51,542
|
Johnson & Johnson
|
8,078,693
|
|||
76,712
|
Merck & Co., Inc.
|
8,363,142
|
|||
|
|
16,441,835
|
|||
|
Semiconductors &
Semiconductor Equipment
— 3.8%
|
|
|||
186,393
|
Intel Corp.
|
9,366,248
|
|||
|
Software — 6.6%
|
|
|||
21,268
|
Microsoft Corp.
|
7,997,619
|
|||
31,736
|
Salesforce, Inc. (a)
|
8,351,011
|
|||
|
|
16,348,630
|
|||
|
Specialty Retail — 3.4%
|
|
|||
24,381
|
Home Depot (The), Inc.
|
8,449,236
|
|||
|
Technology Hardware, Storage
& Peripherals — 3.1%
|
|
|||
40,667
|
Apple, Inc.
|
7,829,618
|
|||
|
Textiles, Apparel & Luxury
Goods — 3.0%
|
|
|||
68,666
|
NIKE, Inc., Class B
|
7,455,068
|
|||
|
|||||
|
|||||
|
Total Investments — 100.0%
|
249,509,965
|
|||
|
(Cost $226,431,875)
|
|
|||
|
Net Other Assets and
Liabilities — 0.0%
|
92,789
|
|||
|
Net Assets — 100.0%
|
$249,602,754
|
(a)
|
Non-income producing security.
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common Stocks*
|
$ 249,509,965
|
$ 249,509,965
|
$ —
|
$ —
|
*
|
See Portfolio of Investments for industry breakout.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.9%
|
|||||
|
Aerospace & Defense — 2.7%
|
|
|||
1,387
|
Axon Enterprise, Inc. (a)
|
$358,304
|
|||
3,357
|
Boeing (The) Co. (a)
|
875,035
|
|||
3,822
|
Howmet Aerospace, Inc.
|
206,847
|
|||
768
|
TransDigm Group, Inc.
|
776,909
|
|||
|
|
2,217,095
|
|||
|
Automobiles — 3.2%
|
|
|||
33,611
|
Ford Motor Co.
|
409,718
|
|||
132,216
|
Lucid Group, Inc. (a)
|
556,630
|
|||
48,692
|
Rivian Automotive, Inc.,
Class A (a)
|
1,142,314
|
|||
2,171
|
Tesla, Inc. (a)
|
539,450
|
|||
|
|
2,648,112
|
|||
|
Banks — 1.4%
|
|
|||
13,302
|
Citizens Financial Group, Inc.
|
440,828
|
|||
29,130
|
Huntington Bancshares, Inc.
|
370,533
|
|||
2,420
|
M&T Bank Corp.
|
331,734
|
|||
|
|
1,143,095
|
|||
|
Biotechnology — 2.0%
|
|
|||
6,606
|
Alnylam Pharmaceuticals,
Inc. (a)
|
1,264,455
|
|||
4,378
|
Moderna, Inc. (a)
|
435,392
|
|||
|
|
1,699,847
|
|||
|
Broadline Retail — 0.9%
|
|
|||
4,124
|
Amazon.com, Inc. (a)
|
626,600
|
|||
1,554
|
Etsy, Inc. (a)
|
125,952
|
|||
|
|
752,552
|
|||
|
Building Products — 2.9%
|
|
|||
8,778
|
Builders FirstSource, Inc. (a)
|
1,465,399
|
|||
1,241
|
Carlisle Cos., Inc.
|
387,726
|
|||
5,303
|
Carrier Global Corp.
|
304,657
|
|||
1,045
|
Trane Technologies PLC
|
254,876
|
|||
|
|
2,412,658
|
|||
|
Capital Markets — 5.2%
|
|
|||
4,624
|
Ares Management Corp.,
Class A
|
549,886
|
|||
3,743
|
Blackstone, Inc.
|
490,034
|
|||
10,836
|
Carlyle Group (The), Inc.
|
440,917
|
|||
6,535
|
Charles Schwab (The) Corp.
|
449,608
|
|||
13,250
|
KKR & Co., Inc.
|
1,097,762
|
|||
719
|
LPL Financial Holdings, Inc.
|
163,659
|
|||
911
|
Moody’s Corp.
|
355,800
|
|||
727
|
MSCI, Inc.
|
411,227
|
|||
4,671
|
Northern Trust Corp.
|
394,139
|
|||
|
|
4,353,032
|
|||
|
Chemicals — 1.3%
|
|
|||
3,781
|
CF Industries Holdings, Inc.
|
300,590
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Chemicals (Continued)
|
|
|||
5,490
|
International Flavors &
Fragrances, Inc.
|
$444,525
|
|||
10,028
|
Mosaic (The) Co.
|
358,300
|
|||
|
|
1,103,415
|
|||
|
Commercial Services &
Supplies — 0.7%
|
|
|||
305
|
Cintas Corp.
|
183,811
|
|||
7,822
|
Copart, Inc. (a)
|
383,278
|
|||
|
|
567,089
|
|||
|
Communications Equipment
— 0.6%
|
|
|||
2,125
|
Arista Networks, Inc. (a)
|
500,459
|
|||
|
Construction & Engineering
— 0.3%
|
|
|||
1,268
|
Quanta Services, Inc.
|
273,634
|
|||
|
Consumer Staples Distribution
& Retail — 1.8%
|
|
|||
330
|
Costco Wholesale Corp.
|
217,826
|
|||
3,366
|
Dollar General Corp.
|
457,608
|
|||
3,171
|
Dollar Tree, Inc. (a)
|
450,441
|
|||
14,026
|
Walgreens Boots Alliance, Inc.
|
366,219
|
|||
|
|
1,492,094
|
|||
|
Containers & Packaging —
0.4%
|
|
|||
5,980
|
Ball Corp.
|
343,970
|
|||
|
Electric Utilities — 0.5%
|
|
|||
3,533
|
Constellation Energy Corp.
|
412,972
|
|||
|
Electrical Equipment — 0.3%
|
|
|||
796
|
Hubbell, Inc.
|
261,828
|
|||
|
Electronic Equipment,
Instruments & Components
— 0.7%
|
|
|||
4,512
|
Jabil, Inc.
|
574,829
|
|||
|
Energy Equipment & Services
— 0.6%
|
|
|||
14,317
|
Baker Hughes Co.
|
489,355
|
|||
|
Entertainment — 4.1%
|
|
|||
945
|
Netflix, Inc. (a)
|
460,102
|
|||
30,143
|
ROBLOX Corp., Class A (a)
|
1,378,138
|
|||
3,275
|
Take-Two Interactive Software,
Inc. (a)
|
527,111
|
|||
90,200
|
Warner Bros. Discovery, Inc. (a)
|
1,026,476
|
|||
|
|
3,391,827
|
|||
|
Financial Services — 4.2%
|
|
|||
18,514
|
Apollo Global Management, Inc.
|
1,725,320
|
|||
6,376
|
Block, Inc. (a)
|
493,184
|
|||
3,336
|
Fidelity National Information
Services, Inc.
|
200,393
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Financial Services (Continued)
|
|
|||
1,354
|
Mastercard, Inc., Class A
|
$577,495
|
|||
1,867
|
Visa, Inc., Class A
|
486,073
|
|||
|
|
3,482,465
|
|||
|
Ground Transportation —
0.8%
|
|
|||
931
|
Old Dominion Freight Line, Inc.
|
377,362
|
|||
5,392
|
Uber Technologies, Inc. (a)
|
331,986
|
|||
|
|
709,348
|
|||
|
Health Care Equipment &
Supplies — 4.4%
|
|
|||
8,200
|
Dexcom, Inc. (a)
|
1,017,538
|
|||
706
|
IDEXX Laboratories, Inc. (a)
|
391,865
|
|||
5,831
|
Insulet Corp. (a)
|
1,265,211
|
|||
1,645
|
Intuitive Surgical, Inc. (a)
|
554,957
|
|||
2,340
|
ResMed, Inc.
|
402,527
|
|||
|
|
3,632,098
|
|||
|
Health Care REITs — 0.5%
|
|
|||
9,131
|
Ventas, Inc.
|
455,089
|
|||
|
Health Care Technology —
0.7%
|
|
|||
3,041
|
Veeva Systems, Inc., Class A (a)
|
585,453
|
|||
|
Hotels, Restaurants & Leisure
— 8.1%
|
|
|||
2,893
|
Airbnb, Inc., Class A (a)
|
393,853
|
|||
90
|
Chipotle Mexican Grill, Inc. (a)
|
205,826
|
|||
864
|
Domino’s Pizza, Inc.
|
356,167
|
|||
10,931
|
DoorDash, Inc., Class A (a)
|
1,080,967
|
|||
39,343
|
DraftKings, Inc., Class A (a)
|
1,386,841
|
|||
12,203
|
Las Vegas Sands Corp.
|
600,510
|
|||
1,096
|
McDonald’s Corp.
|
324,975
|
|||
4,033
|
MGM Resorts International (a)
|
180,194
|
|||
14,507
|
Royal Caribbean Cruises Ltd. (a)
|
1,878,511
|
|||
2,864
|
Yum! Brands, Inc.
|
374,210
|
|||
|
|
6,782,054
|
|||
|
Household Durables — 0.8%
|
|
|||
36
|
NVR, Inc. (a)
|
252,016
|
|||
4,105
|
PulteGroup, Inc.
|
423,718
|
|||
|
|
675,734
|
|||
|
Industrial Conglomerates —
0.6%
|
|
|||
4,234
|
General Electric Co.
|
540,385
|
|||
|
Insurance — 2.0%
|
|
|||
1,570
|
Allstate (The) Corp.
|
219,769
|
|||
1,162
|
Arthur J. Gallagher & Co.
|
261,311
|
|||
3,193
|
Brown & Brown, Inc.
|
227,054
|
|||
3,630
|
Cincinnati Financial Corp.
|
375,560
|
|||
137
|
Markel Group, Inc. (a)
|
194,526
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Insurance (Continued)
|
|
|||
1,101
|
Marsh & McLennan Cos., Inc.
|
$208,606
|
|||
2,137
|
Prudential Financial, Inc.
|
221,628
|
|||
|
|
1,708,454
|
|||
|
Interactive Media & Services
— 3.4%
|
|
|||
2,724
|
Alphabet, Inc., Class A (a)
|
380,516
|
|||
4,124
|
Match Group, Inc. (a)
|
150,526
|
|||
3,212
|
Meta Platforms, Inc., Class A (a)
|
1,136,920
|
|||
6,035
|
Pinterest, Inc., Class A (a)
|
223,536
|
|||
57,369
|
Snap, Inc., Class A (a)
|
971,257
|
|||
|
|
2,862,755
|
|||
|
IT Services — 3.3%
|
|
|||
9,660
|
Cloudflare, Inc., Class A (a)
|
804,292
|
|||
1,955
|
MongoDB, Inc. (a)
|
799,302
|
|||
3,804
|
Snowflake, Inc., Class A (a)
|
756,996
|
|||
1,893
|
VeriSign, Inc. (a)
|
389,882
|
|||
|
|
2,750,472
|
|||
|
Life Sciences Tools & Services
— 1.1%
|
|
|||
14,130
|
Avantor, Inc. (a)
|
322,588
|
|||
4,250
|
Illumina, Inc. (a)
|
591,770
|
|||
|
|
914,358
|
|||
|
Media — 1.1%
|
|
|||
669
|
Charter Communications, Inc.,
Class A (a)
|
260,027
|
|||
8,195
|
Paramount Global, Class B
|
121,204
|
|||
7,675
|
Trade Desk (The), Inc.,
Class A (a)
|
552,293
|
|||
|
|
933,524
|
|||
|
Metals & Mining — 1.3%
|
|
|||
3,415
|
Newmont Corp.
|
141,347
|
|||
1,993
|
Nucor Corp.
|
346,862
|
|||
837
|
Reliance Steel & Aluminum Co.
|
234,092
|
|||
3,283
|
Steel Dynamics, Inc.
|
387,722
|
|||
|
|
1,110,023
|
|||
|
Office REITs — 0.2%
|
|
|||
1,383
|
Alexandria Real Estate Equities,
Inc.
|
175,323
|
|||
|
Oil, Gas & Consumable Fuels
— 0.8%
|
|
|||
2,747
|
Marathon Petroleum Corp.
|
407,545
|
|||
2,917
|
Targa Resources Corp.
|
253,400
|
|||
|
|
660,945
|
|||
|
Passenger Airlines — 0.2%
|
|
|||
5,596
|
Southwest Airlines Co.
|
161,612
|
|||
|
Pharmaceuticals — 1.6%
|
|
|||
1,713
|
Eli Lilly & Co.
|
998,542
|
|||
1,517
|
Zoetis, Inc.
|
299,410
|
|||
|
|
1,297,952
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Professional Services — 0.7%
|
|
|||
1,072
|
Paycom Software, Inc.
|
$221,604
|
|||
1,361
|
Verisk Analytics, Inc.
|
325,088
|
|||
|
|
546,692
|
|||
|
Semiconductors &
Semiconductor Equipment
— 11.0%
|
|
|||
6,152
|
Advanced Micro Devices,
Inc. (a)
|
906,866
|
|||
2,259
|
Applied Materials, Inc.
|
366,116
|
|||
1,255
|
Broadcom, Inc.
|
1,400,894
|
|||
3,142
|
First Solar, Inc. (a)
|
541,304
|
|||
23,708
|
Intel Corp.
|
1,191,327
|
|||
1,175
|
KLA Corp.
|
683,028
|
|||
665
|
Monolithic Power Systems, Inc.
|
419,469
|
|||
4,474
|
NVIDIA Corp.
|
2,215,614
|
|||
3,526
|
ON Semiconductor Corp. (a)
|
294,527
|
|||
3,027
|
QUALCOMM, Inc.
|
437,795
|
|||
3,184
|
Skyworks Solutions, Inc.
|
357,945
|
|||
3,212
|
Teradyne, Inc.
|
348,566
|
|||
|
|
9,163,451
|
|||
|
Software — 17.1%
|
|
|||
1,159
|
Adobe, Inc. (a)
|
691,459
|
|||
831
|
Aspen Technology, Inc. (a)
|
182,945
|
|||
1,332
|
Autodesk, Inc. (a)
|
324,315
|
|||
7,058
|
Bentley Systems, Inc., Class B
|
368,286
|
|||
5,587
|
BILL Holdings, Inc. (a)
|
455,843
|
|||
2,661
|
Cadence Design Systems,
Inc. (a)
|
724,777
|
|||
4,655
|
Crowdstrike Holdings, Inc.,
Class A (a)
|
1,188,515
|
|||
6,472
|
Datadog, Inc., Class A (a)
|
785,571
|
|||
5,808
|
Dynatrace, Inc. (a)
|
317,639
|
|||
1,087
|
Fair Isaac Corp. (a)
|
1,265,279
|
|||
12,185
|
Fortinet, Inc. (a)
|
713,188
|
|||
1,117
|
HubSpot, Inc. (a)
|
648,463
|
|||
490
|
Intuit, Inc.
|
306,265
|
|||
1,501
|
Microsoft Corp.
|
564,436
|
|||
8,649
|
Oracle Corp.
|
911,864
|
|||
67,227
|
Palantir Technologies, Inc.,
Class A (a)
|
1,154,288
|
|||
3,091
|
Palo Alto Networks, Inc. (a)
|
911,474
|
|||
569
|
ServiceNow, Inc. (a)
|
401,993
|
|||
1,358
|
Synopsys, Inc. (a)
|
699,248
|
|||
9,219
|
Unity Software, Inc. (a)
|
376,965
|
|||
2,153
|
Workday, Inc., Class A (a)
|
594,357
|
|||
2,401
|
Zoom Video Communications,
Inc., Class A (a)
|
172,656
|
|||
2,332
|
Zscaler, Inc. (a)
|
516,678
|
|||
|
|
14,276,504
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Specialized REITs — 0.7%
|
|
|||
2,187
|
SBA Communications Corp.
|
$554,820
|
|||
|
Specialty Retail — 0.7%
|
|
|||
826
|
Burlington Stores, Inc. (a)
|
160,641
|
|||
165
|
O’Reilly Automotive, Inc. (a)
|
156,763
|
|||
2,484
|
TJX (The) Cos., Inc.
|
233,024
|
|||
|
|
550,428
|
|||
|
Technology Hardware, Storage
& Peripherals — 3.6%
|
|
|||
896
|
Apple, Inc.
|
172,507
|
|||
6,486
|
Dell Technologies, Inc., Class C
|
496,179
|
|||
5,848
|
Seagate Technology
Holdings PLC
|
499,244
|
|||
2,935
|
Super Micro Computer, Inc. (a)
|
834,303
|
|||
18,948
|
Western Digital Corp. (a)
|
992,307
|
|||
|
|
2,994,540
|
|||
|
Textiles, Apparel & Luxury
Goods — 0.5%
|
|
|||
593
|
Deckers Outdoor Corp. (a)
|
396,379
|
|||
|
Trading Companies &
Distributors — 0.9%
|
|
|||
1,324
|
United Rentals, Inc.
|
759,208
|
|||
|
Total Common Stocks
|
83,317,929
|
|||
|
(Cost $74,382,350)
|
|
|||
MONEY MARKET FUNDS — 0.1%
|
|||||
102,106
|
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
5.22% (b)
|
102,106
|
|||
|
(Cost $102,106)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 100.0%
|
83,420,035
|
|||
|
(Cost $74,484,456)
|
|
|||
|
Net Other Assets and
Liabilities — (0.0)%
|
(453
)
|
|||
|
Net Assets — 100.0%
|
$83,419,582
|
(a)
|
Non-income producing security.
|
(b)
|
Rate shown reflects yield as of December 31, 2023.
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common Stocks*
|
$ 83,317,929
|
$ 83,317,929
|
$ —
|
$ —
|
Money Market Funds
|
102,106
|
102,106
|
—
|
—
|
Total Investments
|
$83,420,035
|
$83,420,035
|
$—
|
$—
|
*
|
See Portfolio of Investments for industry breakout.
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS — 99.9%
|
|||||
|
Aerospace & Defense — 1.3%
|
|
|||
21
|
Boeing (The) Co. (a)
|
$5,474
|
|||
10
|
Lockheed Martin Corp.
|
4,532
|
|||
56
|
Textron, Inc.
|
4,504
|
|||
|
|
14,510
|
|||
|
Air Freight & Logistics —
2.0%
|
|
|||
141
|
C.H. Robinson Worldwide, Inc.
|
12,181
|
|||
81
|
Expeditors International of
Washington, Inc.
|
10,303
|
|||
|
|
22,484
|
|||
|
Banks — 6.8%
|
|
|||
139
|
Citigroup, Inc.
|
7,150
|
|||
283
|
Citizens Financial Group, Inc.
|
9,379
|
|||
184
|
Comerica, Inc.
|
10,269
|
|||
707
|
Huntington Bancshares, Inc.
|
8,993
|
|||
583
|
KeyCorp
|
8,395
|
|||
227
|
Truist Financial Corp.
|
8,381
|
|||
171
|
U.S. Bancorp
|
7,401
|
|||
147
|
Wells Fargo & Co.
|
7,235
|
|||
169
|
Zions Bancorp N.A.
|
7,414
|
|||
|
|
74,617
|
|||
|
Beverages — 0.7%
|
|
|||
121
|
Molson Coors Beverage Co.,
Class B
|
7,406
|
|||
|
Biotechnology — 1.9%
|
|
|||
45
|
AbbVie, Inc.
|
6,974
|
|||
90
|
Gilead Sciences, Inc.
|
7,291
|
|||
107
|
Incyte Corp. (a)
|
6,718
|
|||
|
|
20,983
|
|||
|
Broadline Retail — 1.7%
|
|
|||
219
|
eBay, Inc.
|
9,553
|
|||
106
|
Etsy, Inc. (a)
|
8,591
|
|||
|
|
18,144
|
|||
|
Building Products — 1.4%
|
|
|||
63
|
A.O. Smith Corp.
|
5,194
|
|||
35
|
Allegion PLC
|
4,434
|
|||
85
|
Masco Corp.
|
5,693
|
|||
|
|
15,321
|
|||
|
Capital Markets — 0.9%
|
|
|||
131
|
State Street Corp.
|
10,147
|
|||
|
Chemicals — 1.2%
|
|
|||
57
|
CF Industries Holdings, Inc.
|
4,532
|
|||
50
|
Dow, Inc.
|
2,742
|
|||
27
|
LyondellBasell Industries N.V.,
Class A
|
2,567
|
|||
107
|
Mosaic (The) Co.
|
3,823
|
|||
|
|
13,664
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Communications Equipment
— 6.5%
|
|
|||
542
|
Cisco Systems, Inc.
|
$27,382
|
|||
133
|
F5, Inc. (a)
|
23,804
|
|||
705
|
Juniper Networks, Inc.
|
20,784
|
|||
|
|
71,970
|
|||
|
Consumer Finance — 4.7%
|
|
|||
135
|
Capital One Financial Corp.
|
17,701
|
|||
114
|
Discover Financial Services
|
12,814
|
|||
569
|
Synchrony Financial
|
21,730
|
|||
|
|
52,245
|
|||
|
Consumer Staples Distribution
& Retail — 1.5%
|
|
|||
209
|
Kroger (The) Co.
|
9,554
|
|||
101
|
Sysco Corp.
|
7,386
|
|||
|
|
16,940
|
|||
|
Electronic Equipment,
Instruments & Components
— 1.8%
|
|
|||
123
|
Keysight Technologies, Inc. (a)
|
19,568
|
|||
|
Entertainment — 4.1%
|
|
|||
148
|
Electronic Arts, Inc.
|
20,248
|
|||
268
|
Live Nation Entertainment,
Inc. (a)
|
25,085
|
|||
|
|
45,333
|
|||
|
Food Products — 1.7%
|
|
|||
154
|
Archer-Daniels-Midland Co.
|
11,122
|
|||
62
|
J.M. Smucker (The) Co.
|
7,835
|
|||
|
|
18,957
|
|||
|
Gas Utilities — 1.3%
|
|
|||
119
|
Atmos Energy Corp.
|
13,792
|
|||
|
Health Care Providers &
Services — 9.8%
|
|
|||
95
|
Cardinal Health, Inc.
|
9,576
|
|||
31
|
Cencora, Inc.
|
6,367
|
|||
232
|
Centene Corp. (a)
|
17,217
|
|||
31
|
Cigna Group (The)
|
9,283
|
|||
135
|
CVS Health Corp.
|
10,659
|
|||
22
|
Elevance Health, Inc.
|
10,374
|
|||
51
|
Humana, Inc.
|
23,348
|
|||
14
|
McKesson Corp.
|
6,482
|
|||
24
|
Molina Healthcare, Inc. (a)
|
8,671
|
|||
12
|
UnitedHealth Group, Inc.
|
6,318
|
|||
|
|
108,295
|
|||
|
Health Care REITs — 0.3%
|
|
|||
154
|
Healthpeak Properties, Inc.
|
3,049
|
|||
|
Hotel & Resort REITs — 0.4%
|
|
|||
195
|
Host Hotels & Resorts, Inc.
|
3,797
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Hotels, Restaurants & Leisure
— 1.8%
|
|
|||
130
|
Expedia Group, Inc. (a)
|
$19,733
|
|||
|
Household Durables — 5.6%
|
|
|||
75
|
D.R. Horton, Inc.
|
11,398
|
|||
142
|
Lennar Corp., Class A
|
21,164
|
|||
2
|
NVR, Inc. (a)
|
14,001
|
|||
150
|
PulteGroup, Inc.
|
15,483
|
|||
|
|
62,046
|
|||
|
Household Products — 1.2%
|
|
|||
51
|
Clorox (The) Co.
|
7,272
|
|||
52
|
Kimberly-Clark Corp.
|
6,319
|
|||
|
|
13,591
|
|||
|
Industrial Conglomerates —
0.7%
|
|
|||
65
|
3M Co.
|
7,106
|
|||
|
Insurance — 1.9%
|
|
|||
135
|
American International Group,
Inc.
|
9,146
|
|||
152
|
Principal Financial Group, Inc.
|
11,958
|
|||
|
|
21,104
|
|||
|
Interactive Media & Services
— 1.7%
|
|
|||
499
|
Match Group, Inc. (a)
|
18,213
|
|||
|
IT Services — 3.9%
|
|
|||
292
|
Cognizant Technology Solutions
Corp., Class A
|
22,055
|
|||
128
|
International Business Machines
Corp.
|
20,934
|
|||
|
|
42,989
|
|||
|
Machinery — 1.3%
|
|
|||
16
|
Nordson Corp.
|
4,227
|
|||
45
|
PACCAR, Inc.
|
4,394
|
|||
18
|
Snap-on, Inc.
|
5,199
|
|||
|
|
13,820
|
|||
|
Media — 2.2%
|
|
|||
826
|
Fox Corp., Class A
|
24,507
|
|||
|
Metals & Mining — 1.0%
|
|
|||
33
|
Nucor Corp.
|
5,743
|
|||
48
|
Steel Dynamics, Inc.
|
5,669
|
|||
|
|
11,412
|
|||
|
Multi-Utilities — 1.0%
|
|
|||
133
|
Public Service Enterprise Group,
Inc.
|
8,133
|
|||
30
|
WEC Energy Group, Inc.
|
2,525
|
|||
|
|
10,658
|
Shares
|
Description
|
Value
|
|||
|
|||||
|
Office REITs — 0.9%
|
|
|||
34
|
Alexandria Real Estate Equities,
Inc.
|
$4,310
|
|||
75
|
Boston Properties, Inc.
|
5,263
|
|||
|
|
9,573
|
|||
|
Oil, Gas & Consumable Fuels
— 4.0%
|
|
|||
348
|
Coterra Energy, Inc.
|
8,881
|
|||
214
|
EQT Corp.
|
8,273
|
|||
303
|
Marathon Oil Corp.
|
7,321
|
|||
64
|
Marathon Petroleum Corp.
|
9,495
|
|||
76
|
Valero Energy Corp.
|
9,880
|
|||
|
|
43,850
|
|||
|
Passenger Airlines — 0.4%
|
|
|||
108
|
United Airlines Holdings,
Inc. (a)
|
4,456
|
|||
|
Pharmaceuticals — 0.5%
|
|
|||
107
|
Bristol-Myers Squibb Co.
|
5,490
|
|||
|
Professional Services — 1.2%
|
|
|||
31
|
Paychex, Inc.
|
3,692
|
|||
105
|
Robert Half, Inc.
|
9,232
|
|||
|
|
12,924
|
|||
|
Retail REITs — 1.1%
|
|
|||
195
|
Kimco Realty Corp.
|
4,155
|
|||
57
|
Realty Income Corp.
|
3,273
|
|||
32
|
Simon Property Group, Inc.
|
4,565
|
|||
|
|
11,993
|
|||
|
Semiconductors &
Semiconductor Equipment
— 10.4%
|
|
|||
132
|
Applied Materials, Inc.
|
21,393
|
|||
137
|
Enphase Energy, Inc. (a)
|
18,103
|
|||
27
|
Lam Research Corp.
|
21,148
|
|||
253
|
Microchip Technology, Inc.
|
22,816
|
|||
272
|
Skyworks Solutions, Inc.
|
30,578
|
|||
|
|
114,038
|
|||
|
Specialty Retail — 2.4%
|
|
|||
194
|
Bath & Body Works, Inc.
|
8,373
|
|||
142
|
Best Buy Co., Inc.
|
11,116
|
|||
15
|
Ulta Beauty, Inc. (a)
|
7,350
|
|||
|
|
26,839
|
|||
|
Technology Hardware, Storage
& Peripherals — 4.8%
|
|
|||
947
|
HP, Inc.
|
28,495
|
|||
278
|
NetApp, Inc.
|
24,509
|
|||
|
|
53,004
|
|||
|
Textiles, Apparel & Luxury
Goods — 1.0%
|
|
|||
301
|
Tapestry, Inc.
|
11,080
|
Shares
|
Description
|
Value
|
|||
COMMON STOCKS (Continued)
|
|||||
|
Tobacco — 0.9%
|
|
|||
256
|
Altria Group, Inc.
|
$10,327
|
|||
|
|||||
|
|||||
|
Total Investments — 99.9%
|
1,099,975
|
|||
|
(Cost $990,498)
|
|
|||
|
Net Other Assets and
Liabilities — 0.1%
|
1,559
|
|||
|
Net Assets — 100.0%
|
$1,101,534
|
(a)
|
Non-income producing security.
|
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Common Stocks*
|
$ 1,099,975
|
$ 1,099,975
|
$ —
|
$ —
|
*
|
See Portfolio of Investments for industry breakout.
|
|
First Trust
Dividend
Strength ETF
(FTDS)
|
First Trust Dow
30 Equal Weight
ETF
(EDOW)
|
First Trust Lunt
U.S. Factor
Rotation ETF
(FCTR)
|
First Trust S&P
500 Diversified
Free Cash Flow
ETF
(FCFY)
|
ASSETS:
|
|
|
|
|
Investments, at value
|
$20,915,222
|
$249,509,965
|
$83,420,035
|
$1,099,975
|
Cash
|
—
|
60,036
|
—
|
299
|
Receivables:
|
|
|
|
|
Dividends
|
36,852
|
146,379
|
47,246
|
1,811
|
From investment advisor
|
3,321
|
—
|
—
|
—
|
Investment securities sold
|
—
|
8,154,636
|
1,390,610
|
—
|
Prepaid expenses
|
126
|
—
|
—
|
—
|
Total Assets
|
20,955,521
|
257,871,016
|
84,857,891
|
1,102,085
|
|
||||
LIABILITIES:
|
|
|
|
|
Payables:
|
|
|
|
|
Audit and tax fees
|
25,724
|
—
|
—
|
—
|
Shareholder reporting fees
|
13,123
|
—
|
—
|
—
|
Licensing fees
|
1,711
|
—
|
—
|
—
|
Trustees’ fees
|
56
|
—
|
—
|
—
|
Investment advisory fees
|
—
|
109,031
|
48,009
|
551
|
Capital shares redeemed
|
—
|
8,159,231
|
1,390,300
|
—
|
Other liabilities
|
6,750
|
—
|
—
|
—
|
Total Liabilities
|
47,364
|
8,268,262
|
1,438,309
|
551
|
NET ASSETS
|
$20,908,157
|
$249,602,754
|
$83,419,582
|
$1,101,534
|
|
||||
NET ASSETS consist of:
|
|
|
|
|
Paid-in capital
|
$23,427,897
|
$239,001,038
|
$247,420,175
|
$1,021,563
|
Par value
|
4,500
|
76,478
|
30,000
|
500
|
Accumulated distributable earnings (loss)
|
(2,524,240
)
|
10,525,238
|
(164,030,593
)
|
79,471
|
NET ASSETS
|
$20,908,157
|
$249,602,754
|
$83,419,582
|
$1,101,534
|
NET ASSET VALUE, per share
|
$46.46
|
$32.64
|
$27.81
|
$22.03
|
Number of shares outstanding (unlimited number of
shares authorized, par value $0.01 per share)
|
450,002
|
7,647,756
|
3,000,002
|
50,002
|
Investments, at cost
|
$19,416,042
|
$226,431,875
|
$74,484,456
|
$990,498
|
|
First Trust
Dividend
Strength ETF
(FTDS)
|
First Trust Dow
30 Equal Weight
ETF
(EDOW)
|
First Trust Lunt
U.S. Factor
Rotation ETF
(FCTR)
|
First Trust S&P
500 Diversified
Free Cash Flow
ETF
(FCFY) (a)
|
INVESTMENT INCOME:
|
|
|
|
|
Dividends
|
$593,069
|
$5,320,421
|
$2,671,806
|
$9,996
|
Foreign withholding tax
|
(305
)
|
—
|
—
|
—
|
Total investment income
|
592,764
|
5,320,421
|
2,671,806
|
9,996
|
|
||||
EXPENSES:
|
|
|
|
|
Investment advisory fees
|
101,400
|
1,023,020
(b)
|
1,074,561
(b)
|
2,391
(b)
|
Audit and tax fees
|
31,433
|
—
|
—
|
—
|
Shareholder reporting fees
|
27,787
|
—
|
—
|
—
|
Accounting and administration fees
|
13,537
|
—
|
—
|
—
|
Licensing fees
|
12,856
|
—
|
—
|
—
|
Trustees’ fees and expenses
|
7,102
|
—
|
—
|
—
|
Listing fees
|
6,601
|
—
|
—
|
—
|
Transfer agent fees
|
1,014
|
—
|
—
|
—
|
Legal fees
|
545
|
—
|
—
|
—
|
Custodian fees
|
(1,715
)
|
—
|
—
|
—
|
Other expenses
|
435
|
—
|
—
|
—
|
Total expenses
|
200,995
|
1,023,020
|
1,074,561
|
2,391
|
Less fees waived by the investment advisor
|
(59,035
)
|
—
|
—
|
—
|
Net expenses
|
141,960
|
1,023,020
|
1,074,561
|
2,391
|
NET INVESTMENT INCOME (LOSS)
|
450,804
|
4,297,401
|
1,597,245
|
7,605
|
|
||||
NET REALIZED AND UNREALIZED GAIN
(LOSS):
|
|
|
|
|
Net realized gain (loss) on:
|
|
|
|
|
Investments
|
(93,680
)
|
(4,596,677
)
|
(28,011,148
)
|
(30,161
)
|
In-kind redemptions
|
154,841
|
6,260,141
|
5,731,209
|
9,168
|
Net realized gain (loss)
|
61,161
|
1,663,464
|
(22,279,939
)
|
(20,993
)
|
Net increase from payment by the advisor
|
—
|
—
|
25,082
|
—
|
Net change in unrealized appreciation (depreciation)
on investments
|
1,537,299
|
26,849,311
|
8,371,862
|
109,477
|
NET REALIZED AND UNREALIZED GAIN
(LOSS)
|
1,598,460
|
28,512,775
|
(13,882,995
)
|
88,484
|
NET INCREASE (DECREASE) IN NET
ASSETS RESULTING FROM
OPERATIONS
|
$2,049,264
|
$32,810,176
|
$(12,285,750
)
|
$96,089
|
(a)
|
Inception date is August 23, 2023, which is consistent with the commencement of investment operations and is the date the
initial
creation units were established.
|
(b)
|
Fund is subject to a unitary fee (see Note 3 in the Notes to Financial Statements).
|
|
First Trust Dividend Strength
ETF (FTDS)
|
First Trust Dow 30 Equal Weight
ETF (EDOW)
|
||
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
OPERATIONS:
|
|
|
|
|
Net investment income (loss)
|
$450,804
|
$383,157
|
$4,297,401
|
$2,623,645
|
Net realized gain (loss)
|
61,161
|
65,172
|
1,663,464
|
2,627,895
|
Net increase from payment by the advisor
|
—
|
—
|
—
|
—
|
Net change in unrealized appreciation (depreciation)
|
1,537,299
|
(3,516,779
)
|
26,849,311
|
(16,343,947
)
|
Net increase (decrease) in net assets resulting from
operations
|
2,049,264
|
(3,068,450
)
|
32,810,176
|
(11,092,407
)
|
|
||||
DISTRIBUTIONS TO SHAREHOLDERS FROM:
|
|
|
|
|
Investment operations
|
(471,657
)
|
(419,147
)
|
(4,442,650
)
|
(2,633,200
)
|
|
||||
SHAREHOLDER TRANSACTIONS:
|
|
|
|
|
Proceeds from shares sold
|
4,423,244
|
2,147,136
|
91,112,400
|
72,258,682
|
Cost of shares redeemed
|
(4,219,995
)
|
(4,755,506
)
|
(28,151,210
)
|
(38,301,275
)
|
Net increase (decrease) in net assets resulting from
shareholder transactions
|
203,249
|
(2,608,370
)
|
62,961,190
|
33,957,407
|
Total increase (decrease) in net assets
|
1,780,856
|
(6,095,967
)
|
91,328,716
|
20,231,800
|
|
||||
NET ASSETS:
|
|
|
|
|
Beginning of period
|
19,127,301
|
25,223,268
|
158,274,038
|
138,042,238
|
End of period
|
$20,908,157
|
$19,127,301
|
$249,602,754
|
$158,274,038
|
|
||||
CHANGES IN SHARES OUTSTANDING:
|
|
|
|
|
Shares outstanding, beginning of period
|
450,002
|
500,002
|
5,497,756
|
4,347,756
|
Shares sold
|
100,000
|
50,000
|
3,050,000
|
2,450,000
|
Shares redeemed
|
(100,000
)
|
(100,000
)
|
(900,000
)
|
(1,300,000
)
|
Shares outstanding, end of period
|
450,002
|
450,002
|
7,647,756
|
5,497,756
|
(a)
|
Inception date is August 23, 2023, which is consistent with the commencement of investment operations and is the date the
initial
creation units were established.
|
First Trust Lunt U.S. Factor
Rotation ETF (FCTR)
|
First Trust
S&P 500
Diversified
Free Cash Flow
ETF (FCFY)
|
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
Period
Ended
12/31/2023 (a)
|
|
|
|
$1,597,245
|
$4,647,184
|
$7,605
|
(22,279,939
)
|
(116,272,618
)
|
(20,993
)
|
25,082
|
—
|
—
|
8,371,862
|
(18,358,590
)
|
109,477
|
(12,285,750
)
|
(129,984,024
)
|
96,089
|
|
||
|
|
|
(1,619,341
)
|
(4,905,611
)
|
(8,001
)
|
|
||
|
|
|
1,226,028
|
197,817,866
|
2,026,277
|
(171,925,855
)
|
(457,908,923
)
|
(1,012,831
)
|
(170,699,827
)
|
(260,091,057
)
|
1,013,446
|
(184,604,918
)
|
(394,980,692
)
|
1,101,534
|
|
||
|
|
|
268,024,500
|
663,005,192
|
—
|
$83,419,582
|
$268,024,500
|
$1,101,534
|
|
||
|
|
|
9,600,002
|
18,650,002
|
—
|
50,000
|
6,050,000
|
100,002
|
(6,650,000
)
|
(15,100,000
)
|
(50,000
)
|
3,000,002
|
9,600,002
|
50,002
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$42.50
|
$50.45
|
$40.62
|
$36.20
|
$29.22
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
0.95
(a)
|
0.90
|
0.39
|
0.35
|
0.40
|
Net realized and unrealized gain (loss)
|
4.01
|
(7.87
)
|
9.80
|
4.47
|
6.99
|
Total from investment operations
|
4.96
|
(6.97
)
|
10.19
|
4.82
|
7.39
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(1.00
)
|
(0.98
)
|
(0.36
)
|
(0.40
)
|
(0.41
)
|
Net asset value, end of period
|
$46.46
|
$42.50
|
$50.45
|
$40.62
|
$36.20
|
Total return (b)
|
11.84
%
|
(13.75
)%
|
25.12
%
|
13.65
%
|
25.36
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$20,908
|
$19,127
|
$25,223
|
$16,249
|
$18,100
|
Ratio of total expenses to average net assets
|
0.99
%
|
1.04
%
|
1.08
%
|
1.16
%
|
1.02
%
|
Ratio of net expenses to average net assets
|
0.70
%
|
0.70
%
|
0.70
%
|
0.70
%
|
0.70
%
|
Ratio of net investment income (loss) to average net assets
|
2.22
%
|
2.00
%
|
0.84
%
|
1.04
%
|
1.20
%
|
Portfolio turnover rate (c)
|
104
%
|
225
% (d)
|
98
%
|
125
%
|
119
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year. The total returns would have
been lower if certain
fees had not been waived and expenses reimbursed by the investment advisor.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
(d)
|
The variation in the portfolio turnover rate is due to the change in the Fund’s underlying index effective April 29, 2022, which resulted in a
complete rebalance of the Fund’s portfolio.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$28.79
|
$31.75
|
$27.19
|
$26.11
|
$21.43
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
0.63
(a)
|
0.55
|
0.48
|
0.50
|
0.47
|
Net realized and unrealized gain (loss)
|
3.85
|
(2.96
)
|
4.56
|
1.08
|
4.70
|
Total from investment operations
|
4.48
|
(2.41
)
|
5.04
|
1.58
|
5.17
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(0.63
)
|
(0.55
)
|
(0.48
)
|
(0.50
)
|
(0.49
)
|
Net asset value, end of period
|
$32.64
|
$28.79
|
$31.75
|
$27.19
|
$26.11
|
Total return (b)
|
15.74
%
|
(7.52
)%
|
18.63
%
|
6.41
%
|
24.27
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$249,603
|
$158,274
|
$138,042
|
$71,994
|
$43,077
|
Ratio of total expenses to average net assets
|
0.50
%
|
0.50
%
|
0.50
%
|
0.50
%
|
0.50
%
|
Ratio of net investment income (loss) to average net assets
|
2.10
%
|
1.95
%
|
1.70
%
|
2.11
%
|
1.99
%
|
Portfolio turnover rate (c)
|
16
%
|
17
%
|
14
%
|
31
%
|
13
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$27.92
|
$35.55
|
$29.47
|
$22.80
|
$17.67
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
0.26
(a)
|
0.38
|
0.17
|
0.12
|
0.23
|
Net realized and unrealized gain (loss)
|
(0.08
) (b)
|
(7.62
)
|
6.07
|
6.68
|
5.12
|
Total from investment operations
|
0.18
|
(7.24
)
|
6.24
|
6.80
|
5.35
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(0.29
)
|
(0.39
)
|
(0.16
)
|
(0.13
)
|
(0.22
)
|
Net asset value, end of period
|
$27.81
|
$27.92
|
$35.55
|
$29.47
|
$22.80
|
Total return (c)
|
0.68
% (b)
|
(20.37
)%
|
21.22
%
|
30.02
%
|
30.35
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$83,420
|
$268,025
|
$663,005
|
$131,157
|
$62,696
|
Ratio of total expenses to average net assets
|
0.65
%
|
0.65
%
|
0.65
%
|
0.65
%
|
0.65
%
|
Ratio of net investment income (loss) to average net assets
|
0.97
%
|
1.13
%
|
0.52
%
|
0.42
%
|
1.17
%
|
Portfolio turnover rate (d)
|
562
%
|
379
%
|
307
%
|
460
%
|
246
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
The Fund received a payment from the advisor in the amount of $25,082, which represents less than $0.01 per share. Since the
advisor
reimbursed the Fund, there was no effect on the Fund’s total return.
|
(c)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(d)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
|
Period
Ended
12/31/2023 (a)
|
|
|
Net asset value, beginning of period
|
$20.13
|
Income from investment operations:
|
|
Net investment income (loss) (b)
|
0.14
|
Net realized and unrealized gain (loss)
|
1.92
|
Total from investment operations
|
2.06
|
Distributions paid to shareholders from:
|
|
Net investment income
|
(0.16
)
|
Net asset value, end of period
|
$22.03
|
Total return (c)
|
10.23
%
|
|
|
Ratios to average net assets/supplemental data:
|
|
Net assets, end of period (in 000’s)
|
$1,102
|
Ratio of total expenses to average net assets
|
0.60
% (d)
|
Ratio of net investment income (loss) to average net assets
|
1.91
% (d)
|
Portfolio turnover rate (e)
|
37
%
|
(a)
|
Inception date is August 23, 2023, which is consistent with the commencement of investment operations and is the date the
initial creation units
were established.
|
(b)
|
Based on average shares outstanding.
|
(c)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The return
presented does not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(d)
|
Annualized.
|
(e)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
|
First Trust Dividend Strength ETF – (Nasdaq, Inc. (“Nasdaq”) ticker “FTDS”)
|
First Trust Dow 30 Equal Weight ETF – (NYSE Arca, Inc. (“NYSE Arca”) ticker “EDOW”)
|
First Trust Lunt U.S. Factor Rotation ETF – (Cboe BZX Exchange, Inc. ticker “FCTR”)
|
First Trust S&P 500 Diversified Free Cash Flow ETF – (NYSE Arca ticker “FCFY”)(1)
|
(1)
|
Commenced investment operations on August 23, 2023.
|
Fund
|
Index
|
First Trust Dividend Strength ETF
|
The Dividend StrengthTM Index
|
First Trust Dow 30 Equal Weight ETF
|
Dow Jones Industrial Average® Equal Weight Index
|
First Trust Lunt U.S. Factor Rotation ETF
|
Lunt Capital Large Cap Factor Rotation Index
|
First Trust S&P 500 Diversified Free Cash Flow ETF
|
S&P 500® Sector-Neutral FCF Index
|
|
Distributions
paid from
Ordinary
Income
|
Distributions
paid from
Capital
Gains
|
Distributions
paid from
Return of
Capital
|
First Trust Dividend Strength ETF
|
$471,657
|
$—
|
$—
|
First Trust Dow 30 Equal Weight ETF
|
4,442,650
|
—
|
—
|
First Trust Lunt U.S. Factor Rotation ETF
|
1,619,341
|
—
|
—
|
First Trust S&P 500 Diversified Free Cash Flow ETF
|
8,001
|
—
|
—
|
|
Distributions
paid from
Ordinary
Income
|
Distributions
paid from
Capital
Gains
|
Distributions
paid from
Return of
Capital
|
First Trust Dividend Strength ETF
|
$419,147
|
$—
|
$—
|
|
Distributions
paid from
Ordinary
Income
|
Distributions
paid from
Capital
Gains
|
Distributions
paid from
Return of
Capital
|
First Trust Dow 30 Equal Weight ETF
|
$2,633,200
|
$—
|
$—
|
First Trust Lunt U.S. Factor Rotation ETF
|
4,905,611
|
—
|
—
|
|
Undistributed
Ordinary
Income
|
Accumulated
Capital and
Other
Gain (Loss)
|
Net
Unrealized
Appreciation
(Depreciation)
|
First Trust Dividend Strength ETF
|
$—
|
$(4,005,838
)
|
$1,481,598
|
First Trust Dow 30 Equal Weight ETF
|
—
|
(7,178,441
)
|
17,703,679
|
First Trust Lunt U.S. Factor Rotation ETF
|
—
|
(171,622,503
)
|
7,591,910
|
First Trust S&P 500 Diversified Free Cash Flow ETF
|
—
|
(29,489
)
|
108,960
|
|
Non-Expiring
Capital Loss
Carryforwards
|
First Trust Dividend Strength ETF
|
$4,005,838
|
First Trust Dow 30 Equal Weight ETF*
|
7,178,441
|
First Trust Lunt U.S. Factor Rotation ETF
|
171,622,503
|
First Trust S&P 500 Diversified Free Cash Flow ETF
|
29,489
|
*
|
$3,196,504 of First Trust Dow 30 Equal Weight ETF’s non-expiring net capital losses is subject to loss limitation resulting from
reorganization activity. This limitation generally reduces the utilization of these losses to a maximum of $212,620 per year.
|
|
Accumulated
Net Investment
Income (Loss)
|
Accumulated
Net Realized
Gain (Loss)
on Investments
|
Paid-In
Capital
|
First Trust Dividend Strength ETF
|
$20,869
|
$(131,843
)
|
$110,974
|
First Trust Dow 30 Equal Weight ETF
|
145,249
|
(6,103,711
)
|
5,958,462
|
First Trust Lunt U.S. Factor Rotation ETF
|
12,503
|
(701,285
)
|
688,782
|
First Trust S&P 500 Diversified Free Cash Flow ETF
|
396
|
(9,013
)
|
8,617
|
|
Tax Cost
|
Gross
Unrealized
Appreciation
|
Gross
Unrealized
(Depreciation)
|
Net Unrealized
Appreciation
(Depreciation)
|
First Trust Dividend Strength ETF
|
$19,433,624
|
$2,290,770
|
$(809,172
)
|
$1,481,598
|
First Trust Dow 30 Equal Weight ETF
|
231,806,286
|
30,369,180
|
(12,665,501
)
|
17,703,679
|
First Trust Lunt U.S. Factor Rotation ETF
|
75,828,125
|
8,422,041
|
(830,131
)
|
7,591,910
|
First Trust S&P 500 Diversified Free Cash Flow ETF
|
991,015
|
125,514
|
(16,554
)
|
108,960
|
Fund
|
Licensor
|
First Trust Dividend Strength ETF
|
Nasdaq, Inc.
|
First Trust Dow 30 Equal Weight ETF
|
S&P Dow Jones Indices LLC
|
First Trust Lunt U.S. Factor Rotation ETF
|
Lunt Capital Management, Inc.
|
First Trust S&P 500 Diversified Free Cash Flow ETF
|
S&P Dow Jones Indices LLC
|
Breakpoints
|
|
Fund net assets up to and including $2.5 billion
|
0.5000
%
|
Fund net assets greater than $2.5 billion up to and including $5 billion
|
0.4875
%
|
Fund net assets greater than $5 billion up to and including $7.5 billion
|
0.4750
%
|
Fund net assets greater than $7.5 billion up to and including $10 billion
|
0.4625
%
|
Fund net assets greater than $10 billion up to and including $15 billion
|
0.4500
%
|
Fund net assets greater than $15 billion
|
0.4250
%
|
Breakpoints
|
EDOW
|
FCTR
|
FCFY
|
Fund net assets up to and including $2.5 billion
|
0.5000
%
|
0.65000
%
|
0.600
%
|
Fund net assets greater than $2.5 billion up to and including $5 billion
|
0.4875
%
|
0.63375
%
|
0.585
%
|
Fund net assets greater than $5 billion up to and including $7.5 billion
|
0.4750
%
|
0.61750
%
|
0.570
%
|
Fund net assets greater than $7.5 billion up to and including $10 billion
|
0.4625
%
|
0.60125
%
|
0.555
%
|
Fund net assets greater than $10 billion up to and including $15 billion
|
0.4500
%
|
0.58500
%
|
0.540
%
|
Fund net assets greater than $15 billion
|
0.4250
%
|
0.55250
%
|
0.510
%
|
|
Purchases
|
Sales
|
First Trust Dividend Strength ETF
|
$21,192,944
|
$21,219,818
|
First Trust Dow 30 Equal Weight ETF
|
33,009,168
|
33,066,764
|
First Trust Lunt U.S. Factor Rotation ETF
|
936,960,954
|
937,120,542
|
First Trust S&P 500 Diversified Free Cash Flow ETF
|
437,330
|
437,844
|
|
Purchases
|
Sales
|
First Trust Dividend Strength ETF
|
$4,419,728
|
$4,215,998
|
First Trust Dow 30 Equal Weight ETF
|
90,911,082
|
28,104,523
|
First Trust Lunt U.S. Factor Rotation ETF
|
1,217,061
|
171,579,077
|
First Trust S&P 500 Diversified Free Cash Flow ETF
|
2,021,430
|
1,009,314
|
Individual Funds
Included in the Trust
|
Statements of
Operations
|
Statements of
Changes in Net Assets
|
Financial
Highlights
|
First Trust Dividend Strength ETF
|
For the year ended
December 31, 2023
|
For the years ended
December 31, 2023 and
2022
|
For the years ended December 31,
2023, 2022, 2021, 2020, and 2019
|
First Trust Dow 30 Equal Weight ETF
|
|||
First Trust Lunt U.S. Factor Rotation ETF
|
|||
First Trust S&P 500 Diversified Free Cash
Flow ETF
|
For the period from August 23, 2023 (commencement of investment operations) through
December 31, 2023
|
|
Dividends Received
Deduction
|
First Trust Dividend Strength ETF
|
100.00
%
|
First Trust Dow 30 Equal Weight ETF
|
100.00
%
|
First Trust Lunt U.S. Factor Rotation ETF
|
100.00
%
|
First Trust S&P 500 Diversified Free Cash Flow ETF
|
100.00
%
|
|
Qualified Dividend
Income
|
First Trust Dividend Strength ETF
|
100.00
%
|
First Trust Dow 30 Equal Weight ETF
|
100.00
%
|
First Trust Lunt U.S. Factor Rotation ETF
|
100.00
%
|
First Trust S&P 500 Diversified Free Cash Flow ETF
|
100.00
%
|
Name,
Year of Birth and
Position with the Trust
|
Term of Office
and Year First
Elected or
Appointed
|
Principal Occupations
During Past 5 Years
|
Number of
Portfolios in
the First Trust
Fund Complex
Overseen by
Trustee
|
Other
Trusteeships or
Directorships
Held by Trustee
During Past
5 Years
|
INDEPENDENT TRUSTEES
|
||||
Richard E. Erickson, Trustee
(1951)
|
• Indefinite Term
• Since Inception
|
Retired; Physician, Edward-Elmhurst
Medical Group (2021 to September
2023); Physician and Officer,
Wheaton Orthopedics (1990 to 2021)
|
257
|
None
|
Thomas R. Kadlec, Trustee
(1957)
|
• Indefinite Term
• Since Inception
|
Retired; President, ADM Investors
Services, Inc. (Futures Commission
Merchant) (2010 to July 2022)
|
257
|
Director, National Futures
Association and ADMIS
Singapore Ltd.; Formerly,
Director of ADM Investor
Services, Inc., ADM Investor
Services International,
ADMIS Hong Kong Ltd., and
Futures Industry Association
|
Denise M. Keefe, Trustee
(1964)
|
• Indefinite Term
• Since 2021
|
Executive Vice President, Advocate
Aurora Health and President,
Advocate Aurora Continuing Health
Division (Integrated Healthcare
System)
|
257
|
Director and Board Chair of
Advocate Home Health
Services, Advocate Home
Care Products and Advocate
Hospice; Director and Board
Chair of Aurora At Home
(since 2018); Director of
Advocate Physician Partners
Accountable Care
Organization; Director of
RML Long Term Acute Care
Hospitals; Director of Senior
Helpers (since 2021); and
Director of MobileHelp
(since 2022)
|
Robert F. Keith, Trustee
(1956)
|
• Indefinite Term
• Since Inception
|
President, Hibs Enterprises (Financial
and Management Consulting)
|
257
|
Formerly, Director of Trust
Company of Illinois
|
Niel B. Nielson, Trustee
(1954)
|
• Indefinite Term
• Since Inception
|
Senior Advisor (2018 to Present),
Managing Director and Chief
Operating Officer (2015 to 2018),
Pelita Harapan Educational
Foundation (Educational Products
and Services)
|
257
|
None
|
|
||||
INTERESTED TRUSTEE
|
||||
James A. Bowen(1), Trustee,
Chairman of the Board
(1955)
|
• Indefinite Term
• Since Inception
|
Chief Executive Officer, First Trust
Advisors L.P. and First Trust
Portfolios L.P., Chairman of the
Board of Directors, BondWave LLC
(Software Development Company)
and Stonebridge Advisors LLC
(Investment Advisor)
|
257
|
None
|
Name and
Year of Birth
|
Position
and Offices
with Trust
|
Term of
Year First Elected or
Appointed
|
Principal Occupations
During Past 5 Years
|
ADVISORY BOARD OF THE TRUST
|
|||
Bronwyn Wright
(1971)
|
Advisory Board Member
|
• Indefinite term
• Since 2023
|
Independent Director to a number of Irish collective investment
funds (2009 to Present); Various roles at international affiliates of
Citibank (1994 to 2009), including Managing Director, Citibank
Europe plc and Head of Securities and Fund Services, Citi Ireland
(2007 to 2009)
|
Name and
Year of Birth
|
Position and
Offices
with Trust
|
Term of Office
and Length of
Service
|
Principal Occupations
During Past 5 Years
|
OFFICERS(2)
|
|||
James M. Dykas
(1966)
|
President and Chief
Executive Officer
|
• Indefinite Term
• Since 2016
|
Managing Director and Chief Financial Officer, First Trust
Advisors L.P. and First Trust Portfolios L.P.; Chief Financial
Officer, BondWave LLC (Software Development Company) and
Stonebridge Advisors LLC (Investment Advisor)
|
Derek D. Maltbie
(1972)
|
Treasurer, Chief Financial
Officer and Chief
Accounting Officer
|
• Indefinite Term
• Since 2023
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P., July 2021 to Present. Previously, Vice President,
First Trust Advisors L.P. and First Trust Portfolios L.P., 2014 -
2021.
|
W. Scott Jardine
(1960)
|
Secretary and Chief Legal
Officer
|
• Indefinite Term
• Since Inception
|
General Counsel, First Trust Advisors L.P. and First Trust
Portfolios L.P.; Secretary and General Counsel, BondWave LLC;
Secretary, Stonebridge Advisors LLC
|
Daniel J. Lindquist
(1970)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Managing Director, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
Kristi A. Maher
(1966)
|
Chief Compliance Officer
and Assistant Secretary
|
• Indefinite Term
• Chief Compliance
Officer Since
January 2011
• Assistant Secretary
Since Inception
|
Deputy General Counsel, First Trust Advisors L.P. and First
Trust Portfolios L.P.
|
Roger F. Testin
(1966)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
Stan Ueland
(1970)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
Annual Report
|
For the Year Ended
December 31, 2023
|
FT Vest Gold Strategy Quarterly Buffer ETF (BGLD)
|
1
|
|
2
|
|
4
|
|
6
|
|
7
|
|
9
|
|
10
|
|
11
|
|
12
|
|
13
|
|
20
|
|
21
|
|
26
|
|
28
|
Performance
|
|||
|
|
Average Annual
Total Returns
|
Cumulative
Total Returns
|
|
1 Year
Ended
12/31/23
|
Inception
(1/20/21)
to 12/31/23
|
Inception
(1/20/21)
to 12/31/23
|
Fund Performance
|
|
|
|
NAV
|
13.15%
|
1.53%
|
4.58%
|
Market Price
|
13.32%
|
1.55%
|
4.62%
|
Index Performance
|
|
|
|
LBMA Gold Price
|
14.59%
|
3.91%
|
11.95%
|
S&P 500® Index - Price Return
|
24.23%
|
7.53%
|
23.83%
|
Fund Allocation
|
% of
Net Assets
|
U.S. Treasury Bills
|
92.6%
|
Purchased Options
|
7.3
|
Written Options
|
(0.5)
|
Net Other Assets and Liabilities
|
0.6
|
Total
|
100.0%
|
|
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.
|
Target Outcome Periods
|
Caps
Before Expenses
|
Expenses
|
Caps
After Expenses
|
GLD
Performance
|
BGLD Actual
Performance
|
BGLD Target
Performance
|
BGLD Actual
vs. Target
(Variance)
|
|
Start
|
End
|
|||||||
11/30/2022
|
2/28/2023
|
6.31%
|
0.22%
|
6.09%
|
3.02%
|
2.95%
|
2.80%
|
0.15%
|
2/28/2023
|
5/31/2023
|
7.36%
|
0.23%
|
7.13%
|
7.39%
|
7.20%
|
7.14%
|
0.06%
|
5/31/2023
|
8/31/2023
|
9.25%
|
0.23%
|
9.02%
|
-1.26%
|
-1.40%
|
-1.49%
|
0.09%
|
8/31/2023
|
11/30/2023
|
8.80%
|
0.23%
|
8.57%
|
4.85%
|
4.68%
|
4.62%
|
0.06%
|
11/30/2023
|
2/28/2024
|
10.50%
|
0.22%
|
10.28%
|
1.28%*
|
1.16%*
|
N/A**
|
N/A**
|
*
|
Performance from 11/30/23 through 12/31/23.
|
**
|
The target outcome period beginning November 30, 2023, had not been completed as of December 31, 2023. This target outcome
period will
end on February 29, 2024.
|
|
Beginning
Account Value
July 1, 2023
|
Ending
Account Value
December 31, 2023
|
Annualized
Expense Ratio
Based on the
Six-Month
Period
|
Expenses Paid
During the
Six-Month
Period (a)
|
FT Vest Gold Strategy Quarterly Buffer ETF (BGLD)
|
||||
Actual
|
$1,000.00
|
$1,062.80
|
0.90%
|
$4.68
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,020.67
|
0.90%
|
$4.58
|
(a)
|
Expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value over
the period (July 1, 2023
through December 31, 2023), multiplied by 184/365 (to reflect the six-month period).
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
U.S. TREASURY BILLS — 92.6%
|
|||||
$27,218,000
|
U.S. Treasury Bill (a)
|
(b)
|
02/29/24
|
$26,987,375
|
|
|
(Cost $26,983,552)
|
|
|
|
|
|
Total Investments — 92.6%
|
26,987,375
|
|||
|
(Cost $26,983,552)
|
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
PURCHASED OPTIONS — 7.3%
|
|||||
|
Call Options Purchased — 7.3%
|
|
|||
1,528
|
SPDR® Gold Shares
|
$29,210,776
|
$179.31
|
02/29/24
|
2,145,903
|
|
(Cost $2,113,197)
|
|
|
|
|
WRITTEN OPTIONS — (0.5)%
|
|||||
|
Call Options Written — (0.5)%
|
|
|||
(1,528
)
|
SPDR® Gold Shares
|
(29,210,776
)
|
208.57
|
02/29/24
|
(148,281
)
|
|
(Premiums received $202,053)
|
|
|
|
|
|
Put Options Written — (0.0)%
|
|
|||
(1,528
)
|
SPDR® Gold Shares
|
(29,210,776
)
|
160.44
|
02/29/24
|
(9,098
)
|
|
(Premiums received $121,100)
|
|
|
|
|
|
Total Written Options
|
(157,379
)
|
|||
|
(Premiums received $323,153)
|
|
|||
|
Net Other Assets and Liabilities — 0.6%
|
179,946
|
|||
|
Net Assets — 100.0%
|
$29,155,845
|
(a)
|
All or a portion of this security is segregated as collateral for the options written. At December 31, 2023, the segregated value
of
this security amounts to $4,139,602.
|
(b)
|
Zero coupon security.
|
ASSETS TABLE
|
||||
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
U.S. Treasury Bills
|
$26,987,375
|
$—
|
$26,987,375
|
$—
|
Purchased Options
|
2,145,903
|
—
|
2,145,903
|
—
|
Total
|
$29,133,278
|
$—
|
$29,133,278
|
$—
|
LIABILITIES TABLE
|
||||
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Written Options
|
$(157,379
)
|
$—
|
$(157,379
)
|
$—
|
ASSETS:
|
|
Investments, at value
|
$26,987,375
|
Options contracts purchased, at value
|
2,145,903
|
Cash
|
190,349
|
Cash segregated as collateral for open written options contracts
|
757,620
|
Dividends receivable
|
2,914
|
Total Assets
|
30,084,161
|
|
|
LIABILITIES:
|
|
Options contracts written, at value
|
157,379
|
Due to broker
|
266
|
Payables:
|
|
Investment securities purchased
|
748,923
|
Investment advisory fees
|
21,748
|
Total Liabilities
|
928,316
|
NET ASSETS
|
$29,155,845
|
|
|
NET ASSETS consist of:
|
|
Paid-in capital
|
$29,032,308
|
Par value
|
15,500
|
Accumulated distributable earnings (loss)
|
108,037
|
NET ASSETS
|
$29,155,845
|
NET ASSET VALUE, per share
|
$18.81
|
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share)
|
1,550,002
|
Investments, at cost
|
$26,983,552
|
Premiums paid on options contracts purchased
|
$2,113,197
|
Premiums received on options contracts written
|
$323,153
|
INVESTMENT INCOME:
|
|
Interest
|
$805,271
|
Dividends
|
32,560
|
Total investment income
|
837,831
|
|
|
EXPENSES:
|
|
Investment advisory fees
|
159,791
|
Total expenses
|
159,791
|
NET INVESTMENT INCOME (LOSS)
|
678,040
|
|
|
NET REALIZED AND UNREALIZED GAIN (LOSS):
|
|
Net realized gain (loss) on:
|
|
Investments
|
(294
)
|
Purchased options contracts
|
1,297,359
|
Written options contracts
|
687,770
|
Net realized gain (loss)
|
1,984,835
|
Net change in unrealized appreciation (depreciation) on:
|
|
Investments
|
3,156
|
Purchased options contracts
|
(198,072
)
|
Written options contracts
|
204,714
|
Net change in unrealized appreciation (depreciation)
|
9,798
|
NET REALIZED AND UNREALIZED GAIN (LOSS)
|
1,994,633
|
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS
|
$2,672,673
|
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
OPERATIONS:
|
|
|
Net investment income (loss)
|
$678,040
|
$54,643
|
Net realized gain (loss)
|
1,984,835
|
(414,350
)
|
Net change in unrealized appreciation (depreciation)
|
9,798
|
(105,812
)
|
Net increase (decrease) in net assets resulting from operations
|
2,672,673
|
(465,519
)
|
|
||
DISTRIBUTIONS TO SHAREHOLDERS FROM:
|
|
|
Investment operations
|
(2,765,606
)
|
(31,758
)
|
Return of capital
|
(491,828
)
|
(16,277
)
|
Total distributions to shareholders
|
(3,257,434
)
|
(48,035
)
|
|
||
SHAREHOLDER TRANSACTIONS:
|
|
|
Proceeds from shares sold
|
29,030,258
|
14,891,168
|
Cost of shares redeemed
|
(12,168,255
)
|
(19,479,127
)
|
Net increase (decrease) in net assets resulting from shareholder transactions
|
16,862,003
|
(4,587,959
)
|
Total increase (decrease) in net assets
|
16,277,242
|
(5,101,513
)
|
|
||
NET ASSETS:
|
|
|
Beginning of period
|
12,878,603
|
17,980,116
|
End of period
|
$29,155,845
|
$12,878,603
|
|
||
CHANGES IN SHARES OUTSTANDING:
|
|
|
Shares outstanding, beginning of period
|
700,002
|
950,002
|
Shares sold
|
1,500,000
|
800,000
|
Shares redeemed
|
(650,000
)
|
(1,050,000
)
|
Shares outstanding, end of period
|
1,550,002
|
700,002
|
|
Year Ended December 31,
|
Period
Ended
12/31/2021 (a)
|
|
|
2023
|
2022
|
|
Net asset value, beginning of period
|
$18.40
|
$18.93
|
$19.99
|
Income from investment operations:
|
|
|
|
Net investment income (loss)
|
0.74
(b)
|
0.08
|
(0.08
)
|
Net realized and unrealized gain (loss)
|
1.64
|
(0.54
)
|
(0.98
)
|
Total from investment operations
|
2.38
|
(0.46
)
|
(1.06
)
|
Distributions paid to shareholders from:
|
|
|
|
Net investment income
|
(1.67
)
|
(0.05
)
|
—
|
Return of capital
|
(0.30
)
|
(0.02
)
|
—
|
Total distributions
|
(1.97
)
|
(0.07
)
|
—
|
Net asset value, end of period
|
$18.81
|
$18.40
|
$18.93
|
Total return (c)
|
13.15
%
|
(2.41
)%
|
(5.30
)%
|
|
|||
Ratios to average net assets/supplemental data:
|
|
|
|
Net assets, end of period (in 000’s)
|
$29,156
|
$12,879
|
$17,980
|
Ratio of total expenses to average net assets
|
0.90
%
|
0.90
%
|
0.90
% (d)
|
Ratio of net investment income (loss) to average net assets
|
3.82
%
|
0.37
%
|
(0.87
)% (d)
|
Portfolio turnover rate (e)
|
0
%
|
0
%
|
0
%
|
(a)
|
Inception date is January 20, 2021, which is consistent with the commencement of investment operations and is the date the
initial creation units
were established.
|
(b)
|
Based on average shares outstanding.
|
(c)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(d)
|
Annualized.
|
(e)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions, derivatives and in-kind transactions.
|
Distributions paid from:
|
2023
|
2022
|
Ordinary income
|
$2,765,606
|
$31,758
|
Capital gains
|
—
|
—
|
Return of capital
|
491,828
|
16,277
|
Undistributed ordinary income
|
$—
|
Accumulated capital and other gain (loss)
|
(6,859
)
|
Net unrealized appreciation (depreciation)
|
208,543
|
Accumulated
Net Investment
Income (Loss)
|
Accumulated
Net Realized
Gain (Loss)
on Investments
|
Paid-In
Capital
|
$1,985,244
|
$(1,985,244
)
|
$—
|
Tax Cost
|
Gross
Unrealized
Appreciation
|
Gross
Unrealized
(Depreciation)
|
Net Unrealized
Appreciation
(Depreciation)
|
$28,767,356
|
$208,543
|
$—
|
$208,543
|
Breakpoints
|
|
Fund net assets up to and including $2.5 billion
|
0.9000
%
|
Fund net assets greater than $2.5 billion up to and including $5 billion
|
0.8775
%
|
Fund net assets greater than $5 billion up to and including $7.5 billion
|
0.8550
%
|
Fund net assets greater than $7.5 billion up to and including $10 billion
|
0.8325
%
|
Fund net assets greater than $10 billion
|
0.8100
%
|
|
|
Asset Derivatives
|
Liability Derivatives
|
||
Derivative
Instrument
|
Risk
Exposure
|
Consolidated
Statement of Assets and
Liabilities Location
|
Value
|
Consolidated
Statement of Assets and
Liabilities Location
|
Value
|
Options contracts
|
Commodity Risk
|
Options contracts
purchased, at value
|
$2,145,903
|
Options contracts written,
at value
|
$157,379
|
|
|
Consolidated Statement of Operations Location
|
|
Commodity Risk Exposure
|
|
Net realized gain (loss) on:
|
|
Purchased options contracts
|
$1,297,359
|
Written options contracts
|
687,770
|
Net change in unrealized appreciation (depreciation) on:
|
|
Purchased options contracts
|
(198,072
)
|
Written options contracts
|
204,714
|
Dividend Received Deduction
|
Qualified Dividend Income
|
0.00
%
|
0.00
%
|
Name,
Year of Birth and
Position with the Trust
|
Term of Office
and Year First
Elected or
Appointed
|
Principal Occupations
During Past 5 Years
|
Number of
Portfolios in
the First Trust
Fund Complex
Overseen by
Trustee
|
Other
Trusteeships or
Directorships
Held by Trustee
During Past
5 Years
|
INDEPENDENT TRUSTEES
|
||||
Richard E. Erickson, Trustee
(1951)
|
• Indefinite Term
• Since Inception
|
Retired; Physician, Edward-Elmhurst
Medical Group (2021 to September
2023); Physician and Officer,
Wheaton Orthopedics (1990 to 2021)
|
257
|
None
|
Thomas R. Kadlec, Trustee
(1957)
|
• Indefinite Term
• Since Inception
|
Retired; President, ADM Investors
Services, Inc. (Futures Commission
Merchant) (2010 to July 2022)
|
257
|
Director, National Futures
Association and ADMIS
Singapore Ltd.; Formerly,
Director of ADM Investor
Services, Inc., ADM Investor
Services International,
ADMIS Hong Kong Ltd., and
Futures Industry Association
|
Denise M. Keefe, Trustee
(1964)
|
• Indefinite Term
• Since 2021
|
Executive Vice President, Advocate
Aurora Health and President,
Advocate Aurora Continuing Health
Division (Integrated Healthcare
System)
|
257
|
Director and Board Chair of
Advocate Home Health
Services, Advocate Home
Care Products and Advocate
Hospice; Director and Board
Chair of Aurora At Home
(since 2018); Director of
Advocate Physician Partners
Accountable Care
Organization; Director of
RML Long Term Acute Care
Hospitals; Director of Senior
Helpers (since 2021); and
Director of MobileHelp
(since 2022)
|
Robert F. Keith, Trustee
(1956)
|
• Indefinite Term
• Since Inception
|
President, Hibs Enterprises (Financial
and Management Consulting)
|
257
|
Formerly, Director of Trust
Company of Illinois
|
Niel B. Nielson, Trustee
(1954)
|
• Indefinite Term
• Since Inception
|
Senior Advisor (2018 to Present),
Managing Director and Chief
Operating Officer (2015 to 2018),
Pelita Harapan Educational
Foundation (Educational Products
and Services)
|
257
|
None
|
|
||||
INTERESTED TRUSTEE
|
||||
James A. Bowen(1), Trustee,
Chairman of the Board
(1955)
|
• Indefinite Term
• Since Inception
|
Chief Executive Officer, First Trust
Advisors L.P. and First Trust
Portfolios L.P., Chairman of the
Board of Directors, BondWave LLC
(Software Development Company)
and Stonebridge Advisors LLC
(Investment Advisor)
|
257
|
None
|
Name and
Year of Birth
|
Position
and Offices
with Trust
|
Term of
Year First Elected or
Appointed
|
Principal Occupations
During Past 5 Years
|
ADVISORY BOARD OF THE TRUST
|
|||
Bronwyn Wright
(1971)
|
Advisory Board Member
|
• Indefinite term
• Since 2023
|
Independent Director to a number of Irish collective investment
funds (2009 to Present); Various roles at international affiliates of
Citibank (1994 to 2009), including Managing Director, Citibank
Europe plc and Head of Securities and Fund Services, Citi Ireland
(2007 to 2009)
|
Name and
Year of Birth
|
Position and
Offices
with Trust
|
Term of Office
and Length of
Service
|
Principal Occupations
During Past 5 Years
|
OFFICERS(2)
|
|||
James M. Dykas
(1966)
|
President and Chief
Executive Officer
|
• Indefinite Term
• Since 2016
|
Managing Director and Chief Financial Officer, First Trust
Advisors L.P. and First Trust Portfolios L.P.; Chief Financial
Officer, BondWave LLC (Software Development Company) and
Stonebridge Advisors LLC (Investment Advisor)
|
Derek D. Maltbie
(1972)
|
Treasurer, Chief Financial
Officer and Chief
Accounting Officer
|
• Indefinite Term
• Since 2023
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P., July 2021 to Present. Previously, Vice President,
First Trust Advisors L.P. and First Trust Portfolios L.P., 2014 -
2021.
|
W. Scott Jardine
(1960)
|
Secretary and Chief Legal
Officer
|
• Indefinite Term
• Since Inception
|
General Counsel, First Trust Advisors L.P. and First Trust
Portfolios L.P.; Secretary and General Counsel, BondWave LLC;
Secretary, Stonebridge Advisors LLC
|
Daniel J. Lindquist
(1970)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Managing Director, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
Kristi A. Maher
(1966)
|
Chief Compliance Officer
and Assistant Secretary
|
• Indefinite Term
• Chief Compliance
Officer Since
January 2011
• Assistant Secretary
Since Inception
|
Deputy General Counsel, First Trust Advisors L.P. and First
Trust Portfolios L.P.
|
Roger F. Testin
(1966)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
Stan Ueland
(1970)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
Annual Report
|
For the Year Ended
December 31, 2023
|
FT Vest Gold Strategy Target Income ETF® (IGLD)
|
1
|
|
2
|
|
4
|
|
6
|
|
7
|
|
9
|
|
10
|
|
11
|
|
12
|
|
13
|
|
20
|
|
21
|
|
26
|
|
28
|
Performance
|
|||
|
|
Average Annual
Total Returns
|
Cumulative
Total Returns
|
|
1 Year
Ended
12/31/23
|
Inception
(3/2/21)
to 12/31/23
|
Inception
(3/2/21)
to 12/31/23
|
Fund Performance
|
|
|
|
NAV
|
10.95%
|
3.66%
|
10.72%
|
Market Price
|
9.13%
|
3.48%
|
10.18%
|
Index Performance
|
|
|
|
LBMA Gold Price
|
14.59%
|
6.83%
|
20.57%
|
S&P 500® Index - Price Return
|
24.23%
|
7.66%
|
23.24%
|
Fund Allocation
|
% of
Net Assets
|
U.S. Treasury Bills
|
139.0%
|
Money Market Funds
|
2.5
|
Purchased Options
|
0.8
|
Written Options
|
(42.3)
|
Net Other Assets and Liabilities
|
(0.0)*
|
Total
|
100.0%
|
*
|
Amount is less than 0.1%.
|
|
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.
|
Monthly Periods
|
Expenses
|
GLD
(Market)
Performance
|
IGLD
(NAV)
Performance
|
IGLD
Overwrite
Percentage
|
|
Start
|
End
|
||||
12/30/2022
|
1/31/2023
|
0.07%
|
5.76%
|
6.16%
|
32.56%
|
1/31/2023
|
2/28/2023
|
0.07%
|
-5.37%
|
-4.30%
|
38.80%
|
2/28/2023
|
3/31/2023
|
0.07%
|
7.92%
|
4.78%
|
41.37%
|
3/31/2023
|
4/28/2023
|
0.07%
|
0.86%
|
1.46%
|
34.70%
|
4/28/2023
|
5/31/2023
|
0.07%
|
-1.34%
|
-1.18%
|
36.49%
|
5/31/2023
|
6/30/2023
|
0.07%
|
-2.22%
|
-1.46%
|
41.25%
|
6/30/2023
|
7/31/2023
|
0.07%
|
2.29%
|
1.73%
|
53.24%
|
7/31/2023
|
8/31/2023
|
0.07%
|
-1.28%
|
-0.59%
|
52.03%
|
8/31/2023
|
9/29/2023
|
0.07%
|
-4.76%
|
-4.11%
|
54.66%
|
9/29/2023
|
10/31/2023
|
0.07%
|
7.37%
|
4.11%
|
54.47%
|
10/31/2023
|
11/30/2023
|
0.07%
|
2.53%
|
2.11%
|
41.69%
|
11/30/2023
|
12/29/2023
|
0.07%
|
1.28%
|
2.30%
|
46.44%
|
|
Beginning
Account Value
July 1, 2023
|
Ending
Account Value
December 31, 2023
|
Annualized
Expense Ratio
Based on the
Six-Month
Period
|
Expenses Paid
During the
Six-Month
Period (a)
|
FT Vest Gold Strategy Target Income ETF® (IGLD)
|
||||
Actual
|
$1,000.00
|
$1,054.60
|
0.85%
|
$4.40
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,020.92
|
0.85%
|
$4.33
|
(a)
|
Expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value over
the period (July 1, 2023
through December 31, 2023), multiplied by 184/365 (to reflect the six-month period).
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
U.S. TREASURY BILLS — 139.0%
|
|||||
$123,076,800
|
U.S. Treasury Bill (a)
|
(b)
|
11/29/24
|
$117,912,739
|
|
|
(Cost $117,530,841)
|
|
|
|
Shares
|
Description
|
Value
|
|||
MONEY MARKET FUNDS — 2.5%
|
|||||
2,115,640
|
Dreyfus Government Cash Management Fund, Institutional Shares - 5.25% (c)
|
2,115,640
|
|||
|
(Cost $2,115,640)
|
|
|||
|
Total Investments — 141.5%
|
120,028,379
|
|||
|
(Cost $119,646,481)
|
|
Number of
Contracts
|
Description
|
Notional
Amount
|
Exercise
Price
|
Expiration
Date
|
Value
|
PURCHASED OPTIONS — 0.8%
|
|||||
|
Call Options Purchased — 0.8%
|
|
|||
4,382
|
SPDR® Gold Shares
|
$83,770,694
|
$283.50
|
11/29/24
|
652,918
|
|
(Cost $475,129)
|
|
|
|
|
WRITTEN OPTIONS — (42.3)%
|
|||||
|
Call Options Written — (0.7)%
|
|
|||
(1,722
)
|
SPDR® Gold Shares
|
(32,919,474
)
|
191.17
|
01/31/24
|
(600,978
)
|
|
(Premiums received $598,753)
|
|
|
|
|
|
Put Options Written — (41.6)%
|
|
|||
(4,382
)
|
SPDR® Gold Shares
|
(83,770,694
)
|
283.50
|
11/29/24
|
(35,244,426
)
|
|
(Premiums received $35,988,208)
|
|
|
|
|
|
Total Written Options
|
(35,845,404
)
|
|||
|
(Premiums received $36,586,961)
|
|
|||
|
Net Other Assets and Liabilities — (0.0)%
|
(12,973
)
|
|||
|
Net Assets — 100.0%
|
$84,822,920
|
(a)
|
All or a portion of this security is segregated as collateral for the options written. At December 31, 2023, the segregated value
of
this security amounts to $54,952,329.
|
(b)
|
Zero coupon security.
|
(c)
|
Rate shown reflects yield as of December 31, 2023.
|
ASSETS TABLE
|
||||
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
U.S. Treasury Bills
|
$117,912,739
|
$—
|
$117,912,739
|
$—
|
Money Market Funds
|
2,115,640
|
2,115,640
|
—
|
—
|
Total Investments
|
120,028,379
|
2,115,640
|
117,912,739
|
—
|
Purchased Options
|
652,918
|
—
|
652,918
|
—
|
Total
|
$120,681,297
|
$2,115,640
|
$118,565,657
|
$—
|
LIABILITIES TABLE
|
||||
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Written Options
|
$(35,845,404
)
|
$—
|
$(35,845,404
)
|
$—
|
ASSETS:
|
|
Investments, at value
|
$120,028,379
|
Options contracts purchased, at value
|
652,918
|
Cash
|
37
|
Due from broker
|
1,878
|
Receivables:
|
|
Capital shares sold
|
964,103
|
Investment securities sold
|
904,335
|
Dividends
|
9,685
|
Total Assets
|
122,561,335
|
|
|
LIABILITIES:
|
|
Options contracts written, at value
|
35,845,404
|
Payables:
|
|
Investment securities purchased
|
1,833,867
|
Investment advisory fees
|
59,144
|
Total Liabilities
|
37,738,415
|
NET ASSETS
|
$84,822,920
|
|
|
NET ASSETS consist of:
|
|
Paid-in capital
|
$83,159,566
|
Par value
|
44,000
|
Accumulated distributable earnings (loss)
|
1,619,354
|
NET ASSETS
|
$84,822,920
|
NET ASSET VALUE, per share
|
$19.28
|
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share)
|
4,400,002
|
Investments, at cost
|
$119,646,481
|
Premiums paid on options contracts purchased
|
$475,129
|
Premiums received on options contracts written
|
$36,586,961
|
INVESTMENT INCOME:
|
|
Interest
|
$4,046,789
|
Dividends
|
67,582
|
Total investment income
|
4,114,371
|
|
|
EXPENSES:
|
|
Investment advisory fees
|
553,229
|
Total expenses
|
553,229
|
NET INVESTMENT INCOME (LOSS)
|
3,561,142
|
|
|
NET REALIZED AND UNREALIZED GAIN (LOSS):
|
|
Net realized gain (loss) on:
|
|
Investments
|
(3,961
)
|
Purchased options contracts
|
(621,692
)
|
Written options contracts
|
1,406,850
|
Net realized gain (loss)
|
781,197
|
Net change in unrealized appreciation (depreciation) on:
|
|
Investments
|
368,297
|
Purchased options contracts
|
176,038
|
Written options contracts
|
658,457
|
Net change in unrealized appreciation (depreciation)
|
1,202,792
|
NET REALIZED AND UNREALIZED GAIN (LOSS)
|
1,983,989
|
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS
|
$5,545,131
|
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
OPERATIONS:
|
|
|
Net investment income (loss)
|
$3,561,142
|
$270,325
|
Net realized gain (loss)
|
781,197
|
(1,431,362
)
|
Net change in unrealized appreciation (depreciation)
|
1,202,792
|
(720,292
)
|
Net increase (decrease) in net assets resulting from operations
|
5,545,131
|
(1,881,239
)
|
|
||
DISTRIBUTIONS TO SHAREHOLDERS FROM:
|
|
|
Investment operations
|
(3,928,684
)
|
—
|
Return of capital
|
(1,160,039
)
|
(1,725,727
)
|
Total distributions to shareholders
|
(5,088,723
)
|
(1,725,727
)
|
|
||
SHAREHOLDER TRANSACTIONS:
|
|
|
Proceeds from shares sold
|
50,580,985
|
21,210,170
|
Cost of shares redeemed
|
(4,784,237
)
|
(10,509,533
)
|
Net increase (decrease) in net assets resulting from shareholder transactions
|
45,796,748
|
10,700,637
|
Total increase (decrease) in net assets
|
46,253,156
|
7,093,581
|
|
||
NET ASSETS:
|
|
|
Beginning of period
|
38,569,764
|
31,476,183
|
End of period
|
$84,822,920
|
$38,569,764
|
|
||
CHANGES IN SHARES OUTSTANDING:
|
|
|
Shares outstanding, beginning of period
|
2,050,002
|
1,550,002
|
Shares sold
|
2,600,000
|
1,050,000
|
Shares redeemed
|
(250,000
)
|
(550,000
)
|
Shares outstanding, end of period
|
4,400,002
|
2,050,002
|
|
Year Ended December 31,
|
Period
Ended
12/31/2021 (a)
|
|
|
2023
|
2022
|
|
Net asset value, beginning of period
|
$18.81
|
$20.31
|
$20.14
|
Income from investment operations:
|
|
|
|
Net investment income (loss)
|
1.04
(b)
|
0.14
|
(0.08
)
|
Net realized and unrealized gain (loss)
|
0.94
|
(0.79
)
|
0.71
|
Total from investment operations
|
1.98
|
(0.65
)
|
0.63
|
Distributions paid to shareholders from:
|
|
|
|
Net investment income
|
(1.17
)
|
—
|
—
|
Return of capital
|
(0.34
)
|
(0.85
)
|
(0.46
)
|
Total distributions
|
(1.51
)
|
(0.85
)
|
(0.46
)
|
Net asset value, end of period
|
$19.28
|
$18.81
|
$20.31
|
Total return (c)
|
10.95
%
|
(3.26
)%
|
3.14
%
|
|
|||
Ratios to average net assets/supplemental data:
|
|
|
|
Net assets, end of period (in 000’s)
|
$84,823
|
$38,570
|
$31,476
|
Ratio of total expenses to average net assets
|
0.85
%
|
0.85
%
|
0.85
% (d)
|
Ratio of net investment income (loss) to average net assets
|
5.47
%
|
0.69
%
|
(0.76
)% (d)
|
Portfolio turnover rate (e)
|
0
%
|
0
%
|
0
%
|
(a)
|
Inception date is March 2, 2021, which is consistent with the commencement of investment operations and is the date the initial
creation units
were established.
|
(b)
|
Based on average shares outstanding.
|
(c)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns
presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(d)
|
Annualized.
|
(e)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions, derivatives and in-kind transactions.
|
Distributions paid from:
|
2023
|
2022
|
Ordinary income
|
$3,928,684
|
$—
|
Capital gains
|
—
|
—
|
Return of capital
|
1,160,039
|
1,725,727
|
Undistributed ordinary income
|
$—
|
Accumulated capital and other gain (loss)
|
(55,617
)
|
Net unrealized appreciation (depreciation)
|
1,325,266
|
Accumulated
Net Investment
Income (Loss)
|
Accumulated
Net Realized
Gain (Loss)
on Investments
|
Paid-In
Capital
|
$786,391
|
$(786,391
)
|
$—
|
Tax Cost
|
Gross
Unrealized
Appreciation
|
Gross
Unrealized
(Depreciation)
|
Net Unrealized
Appreciation
(Depreciation)
|
$83,510,627
|
$1,325,266
|
$—
|
$1,325,266
|
Breakpoints
|
|
Fund net assets up to and including $2.5 billion
|
0.85000
%
|
Fund net assets greater than $2.5 billion up to and including $5 billion
|
0.82875
%
|
Fund net assets greater than $5 billion up to and including $7.5 billion
|
0.80750
%
|
Fund net assets greater than $7.5 billion up to and including $10 billion
|
0.78625
%
|
Fund net assets greater than $10 billion
|
0.76500
%
|
|
|
Asset Derivatives
|
Liability Derivatives
|
||
Derivative
Instrument
|
Risk
Exposure
|
Consolidated
Statement of Assets and
Liabilities Location
|
Value
|
Consolidated
Statement of Assets and
Liabilities Location
|
Value
|
Options contracts
|
Commodity Risk
|
Options contracts
purchased, at value
|
$652,918
|
Options contracts written,
at value
|
$35,845,404
|
|
|
Consolidated Statement of Operations Location
|
|
Commodity Risk Exposure
|
|
Net realized gain (loss) on:
|
|
Purchased options contracts
|
$(621,692
)
|
Written options contracts
|
1,406,850
|
Net change in unrealized appreciation (depreciation) on:
|
|
Purchased options contracts
|
176,038
|
Written options contracts
|
658,457
|
Dividend Received Deduction
|
Qualified Dividend Income
|
0.00
%
|
0.00
%
|
Name,
Year of Birth and
Position with the Trust
|
Term of Office
and Year First
Elected or
Appointed
|
Principal Occupations
During Past 5 Years
|
Number of
Portfolios in
the First Trust
Fund Complex
Overseen by
Trustee
|
Other
Trusteeships or
Directorships
Held by Trustee
During Past
5 Years
|
INDEPENDENT TRUSTEES
|
||||
Richard E. Erickson, Trustee
(1951)
|
• Indefinite Term
• Since Inception
|
Retired; Physician, Edward-Elmhurst
Medical Group (2021 to September
2023); Physician and Officer,
Wheaton Orthopedics (1990 to 2021)
|
257
|
None
|
Thomas R. Kadlec, Trustee
(1957)
|
• Indefinite Term
• Since Inception
|
Retired; President, ADM Investors
Services, Inc. (Futures Commission
Merchant) (2010 to July 2022)
|
257
|
Director, National Futures
Association and ADMIS
Singapore Ltd.; Formerly,
Director of ADM Investor
Services, Inc., ADM Investor
Services International,
ADMIS Hong Kong Ltd., and
Futures Industry Association
|
Denise M. Keefe, Trustee
(1964)
|
• Indefinite Term
• Since 2021
|
Executive Vice President, Advocate
Aurora Health and President,
Advocate Aurora Continuing Health
Division (Integrated Healthcare
System)
|
257
|
Director and Board Chair of
Advocate Home Health
Services, Advocate Home
Care Products and Advocate
Hospice; Director and Board
Chair of Aurora At Home
(since 2018); Director of
Advocate Physician Partners
Accountable Care
Organization; Director of
RML Long Term Acute Care
Hospitals; Director of Senior
Helpers (since 2021); and
Director of MobileHelp
(since 2022)
|
Robert F. Keith, Trustee
(1956)
|
• Indefinite Term
• Since Inception
|
President, Hibs Enterprises (Financial
and Management Consulting)
|
257
|
Formerly, Director of Trust
Company of Illinois
|
Niel B. Nielson, Trustee
(1954)
|
• Indefinite Term
• Since Inception
|
Senior Advisor (2018 to Present),
Managing Director and Chief
Operating Officer (2015 to 2018),
Pelita Harapan Educational
Foundation (Educational Products
and Services)
|
257
|
None
|
|
||||
INTERESTED TRUSTEE
|
||||
James A. Bowen(1), Trustee,
Chairman of the Board
(1955)
|
• Indefinite Term
• Since Inception
|
Chief Executive Officer, First Trust
Advisors L.P. and First Trust
Portfolios L.P., Chairman of the
Board of Directors, BondWave LLC
(Software Development Company)
and Stonebridge Advisors LLC
(Investment Advisor)
|
257
|
None
|
Name and
Year of Birth
|
Position
and Offices
with Trust
|
Term of
Year First Elected or
Appointed
|
Principal Occupations
During Past 5 Years
|
ADVISORY BOARD OF THE TRUST
|
|||
Bronwyn Wright
(1971)
|
Advisory Board Member
|
• Indefinite term
• Since 2023
|
Independent Director to a number of Irish collective investment
funds (2009 to Present); Various roles at international affiliates of
Citibank (1994 to 2009), including Managing Director, Citibank
Europe plc and Head of Securities and Fund Services, Citi Ireland
(2007 to 2009)
|
Name and
Year of Birth
|
Position and
Offices
with Trust
|
Term of Office
and Length of
Service
|
Principal Occupations
During Past 5 Years
|
OFFICERS(2)
|
|||
James M. Dykas
(1966)
|
President and Chief
Executive Officer
|
• Indefinite Term
• Since 2016
|
Managing Director and Chief Financial Officer, First Trust
Advisors L.P. and First Trust Portfolios L.P.; Chief Financial
Officer, BondWave LLC (Software Development Company) and
Stonebridge Advisors LLC (Investment Advisor)
|
Derek D. Maltbie
(1972)
|
Treasurer, Chief Financial
Officer and Chief
Accounting Officer
|
• Indefinite Term
• Since 2023
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P., July 2021 to Present. Previously, Vice President,
First Trust Advisors L.P. and First Trust Portfolios L.P., 2014 -
2021.
|
W. Scott Jardine
(1960)
|
Secretary and Chief Legal
Officer
|
• Indefinite Term
• Since Inception
|
General Counsel, First Trust Advisors L.P. and First Trust
Portfolios L.P.; Secretary and General Counsel, BondWave LLC;
Secretary, Stonebridge Advisors LLC
|
Daniel J. Lindquist
(1970)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Managing Director, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
Kristi A. Maher
(1966)
|
Chief Compliance Officer
and Assistant Secretary
|
• Indefinite Term
• Chief Compliance
Officer Since
January 2011
• Assistant Secretary
Since Inception
|
Deputy General Counsel, First Trust Advisors L.P. and First
Trust Portfolios L.P.
|
Roger F. Testin
(1966)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
Stan Ueland
(1970)
|
Vice President
|
• Indefinite Term
• Since Inception
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P.
|
(b) Not applicable.
Item 2. Code of Ethics.
(a) | The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. |
(c) | There have been no amendments, during the period covered by this report, to a provision of the code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics description. |
(d) | The registrant, during the period covered by this report, has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions. |
(e) | Not applicable. |
(f) | A copy of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller is filed as an exhibit pursuant to Item 13(a)(1). |
Item 3. Audit Committee Financial Expert.
As of the end of the period covered by the report, the registrant's board of trustees has determined that Thomas R. Kadlec and Robert F. Keith are qualified to serve as audit committee financial experts serving on its audit committee and that each of them is "independent," as defined by Item 3 of Form N-CSR.
Item 4. Principal Accountant Fees and Services.
(a) | Audit Fees — The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements were $440,000 for 2022 and $459,000 for 2023. |
(b) | Audit-Related Fees (Registrant) — The aggregate fees billed in each of the last two fiscal years, for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $0 for 2022 and $0 for 2023. |
Audit-Related Fees (Investment Advisor and Distributor) — The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $0 for 2022 and $0 for 2023.
(c) | Tax Fees (Registrant) — The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning to the registrant were $257,000 for 2022 and $310,870 for 2023. The tax fees were for review of regulated investment company status. These fees were for tax consultation and/or tax return preparation and professional services rendered for PFIC (Passive Foreign Investment Company) Identification Services. |
Tax Fees (Investment Advisor and Distributor) — The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning to the registrant’s advisor and distributor were $0 for 2022 and $0 for 2023.
(d) | All Other Fees (Registrant) — The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant to the registrant, other than the services reported in paragraphs (a) through (c) of this Item were $0 for 2022 and $0 for 2023. |
All Other Fees (Investment Advisor and Distributor) — The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant to the registrant’s investment advisor and distributor, other than the services reported in paragraphs (a) through (c) of this Item were $0 for 2022 and $0 for 2023.
(e)(1) Disclose the audit committee's pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.
Pursuant to its charter and its Audit and Non-Audit Services Pre-Approval Policy, the Audit Committee (the “Committee”) is responsible for the pre-approval of all audit services and permitted non-audit services (including the fees and terms thereof) to be performed for the registrant by its independent auditors. The Chairman of the Committee is authorized to give such pre-approvals on behalf of the Committee up to $25,000 and report any such pre-approval to the full Committee.
The Committee is also responsible for the pre-approval of the independent auditor’s engagements for non-audit services with the registrant’s advisor (not including a sub-advisor whose role is primarily portfolio management and is sub-contracted or overseen by another investment advisor) and any entity controlling, controlled by or under common control with the investment advisor that provides ongoing services to the registrant, if the engagement relates directly to the operations and financial reporting of the registrant, subject to the de minimis exceptions for non-audit services described in Rule 2-01 of Regulation S-X. If the independent auditor has provided non-audit services to the registrant’s advisor (other than any sub-advisor whose role is primarily portfolio management and is sub-contracted with or overseen by another investment advisor) and any entity controlling, controlled by or under common control with the investment advisor that provides ongoing services to the registrant that were not pre-approved pursuant to its policies, the Committee will consider whether the provision of such non-audit services is compatible with the auditor’s independence.
(e)(2) | The percentage of services described in each of paragraphs (b) through (d) for the registrant and the registrant’s investment advisor of this Item that were approved by the audit committee pursuant to the pre-approval exceptions included in paragraph (c)(7)(i)(c) or paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X are as follows: |
(b) 0%
(c) 0%
(d) 0%
(f) | The percentage of hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant's full-time, permanent employees was less than fifty percent. |
(g) | The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment advisor (not including any sub-advisor whose role is primarily portfolio management and is subcontracted with or overseen by another investment advisor), and any entity controlling, controlled by, or under common control with the advisor that provides ongoing services to the registrant for the fiscal year ended December 31, 2022 were $257,000 for the registrant, $0 for the registrant’s investment advisor and $0 for the registrant’s distributor and for the fiscal year ended December 31, 2023 were $310,870 for the registrant, $44,000 for the registrant’s investment advisor and $60,500 for the registrant’s distributor. |
(h) | The registrant’s audit committee of its Board of Trustees has determined that the provision of non-audit services that were rendered to the registrant’s investment advisor (not including any sub-advisor whose role is primarily portfolio management and is subcontracted with or overseen by another investment advisor), and any entity controlling, controlled by, or under common control with the investment advisor that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence. |
(i) | Not applicable. |
(j) | Not applicable. |
Items 5. Audit Committee of Listed Registrants.
The registrant has a separately designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934 consisting of all the independent directors of the registrant. The audit committee of the registrant is comprised of: Richard E. Erickson, Thomas R. Kadlec, Denise M. Keefe, Robert F. Keith and Niel B. Nielson.
Item 6. Investments.
(a) | Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1 of this form. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of trustees, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407 (c) (2) (iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22 (b) (15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3 (c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15 (b)). |
(b) | There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
(a) | Not applicable. |
(b) | Not applicable. |
Item [18.]. Recovery of Erroneously Awarded Compensation.
Not Applicable.
Item 14. Exhibits.
(a)(1) | Code of ethics, or any amendment thereto, that is the subject of disclosure required by Item 2 is attached hereto. |
(a)(2) | Not applicable. |
(a)(3) | Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
(a)(4) | Not applicable. |
(b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(registrant) | First Trust Exchange-Traded Fund |
By (Signature and Title)* | /s/ James M. Dykas | |
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
Date: | March 11, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ James M. Dykas | |
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
Date: | March 11, 2024 |
By (Signature and Title)* | /s/ Derek D. Maltbie | |
Derek D. Maltbie, Treasurer, Chief Financial Officer and Chief Accounting Officer (principal financial officer) |
Date: | March 11, 2024 |
* Print the name and title of each signing officer under his or her signature.
SENIOR FINANCIAL OFFICER
CODE OF CONDUCT
I. Introduction
This code of conduct is being adopted by the investment companies advised by First Trust Advisors L.P., from time to time, (the "FUNDS"). The reputation and integrity of the Funds are valuable assets that are vital to the Funds' success. Each officer of the Funds, and officers and employees of the investment adviser to the Funds who work on Fund matters, including each of the Funds' senior financial officers ("SFOS"), is responsible for conducting each Fund's business in a manner that demonstrates a commitment to the highest standards of integrity. SFOs include the Principal Executive Officer (who is the President), the Controller (who is the principal accounting officer), and the Treasurer (who is the principal financial officer), and any person who performs a similar function.
The Funds, First Trust Advisors L.P. and First Trust Portfolios have adopted Codes of Ethics under Rule 17j-1 under the Investment Company Act of 1940 (the "RULE 17J-1 CODE"). These Codes of Ethics are designed to prevent certain conflicts of interest that may arise when officers, employees, or directors of the Funds and the foregoing entities know about present or future Fund transactions and/or have the power to influence those transactions, and engage in transactions with respect to those same securities in their personal account(s) or otherwise take advantage of their position and knowledge with respect to those securities. In an effort to prevent these conflicts and in accordance with Rule 17j-1, the Funds adopted their Rule 17j-1 Code to prohibit transactions and conduct that create conflicts of interest, and to establish compliance procedures.
The Sarbanes-Oxley Act of 2002 was designed to address corporate malfeasance and to help assure investors that the companies in which they invest are accurately and completely disclosing financial information. Under Section 406 of the Act, all public companies (including the Funds) must either have a code of ethics for their SFOs, or disclose why they do not. The Act was intended to prevent future situations (such as occurred in well-reported situations involving such companies as Enron and WorldCom) where a company creates an environment in which employees are afraid to express their opinions or to question unethical and potentially illegal business practices.
The Funds have chosen to adopt a senior financial officer Code of Conduct to encourage their SFOs, and other Fund officers and employees of First Trust Advisors or First Trust Portfolios to act ethically and to question potentially unethical or illegal practices, and to strive to ensure that the Funds' financial disclosures are complete, accurate, and understandable.
II. Purposes of This Code of Conduct
The purposes of this Code are:
A. To promote honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;
B. To promote full, fair, accurate, timely, and understandable disclosure in reports and documents that the Funds file with, or submits to, the SEC and in other public communications the Funds make;
C. To promote compliance with applicable governmental laws, rules and regulations;
D. To encourage the prompt internal reporting to an appropriate person of violations of the Code; and
E. To establish accountability for adherence to the Code.
III. Questions About This Code
The Funds' Boards of Trustees have designated W. Scott Jardine or other appropriate officer designated by the President of the respective Funds to be the Compliance Coordinator for the implementation and administration of the Code.
IV. Handling of Financial Information
The Funds have adopted guidelines under which its SFOs perform their duties. However, the Funds expect that all officers or employees of the adviser or distributor who participate in the preparation of any part of any Fund's financial statements follow these guidelines with respect to each Fund:
A. Act with honesty and integrity and avoid violations of this Code, including actual or apparent conflicts of interest with the Fund in personal and professional relationships.
B. Disclose to the Fund's Compliance Coordinator any material transaction or relationship that reasonably could be expected to give rise to any violations of the Code, including actual or apparent conflicts of interest with the Fund. You should disclose these transactions or relationships whether you are involved or have only observed the transaction or relationship. If it is not possible to disclose the matter to the Compliance Coordinator, it should be disclosed to the Fund's Principal Financial Officer or Principal Executive Officer.
C. Provide information to the Fund's other officers and appropriate employees of service providers (adviser, administrator, outside auditor, outside counsel, custodian, etc.) that is accurate, complete, objective, relevant, timely, and understandable.
D. Endeavor to ensure full, fair, timely, accurate, and understandable disclosure in the Fund's periodic reports.
E. Comply with the federal securities laws and other applicable laws and rules, such as the Internal Revenue Code.
F. Act in good faith, responsibly, and with due care, competence and diligence, without misrepresenting material facts or allowing your independent judgment to be subordinated.
G. Respect the confidentiality of information acquired in the course of your work except when you have Fund approval to disclose it or where disclosure is otherwise legally mandated. You may not use confidential information acquired in the course of your work for personal advantage.
H. Share and maintain skills important and relevant to the Fund's needs.
I. Proactively promote ethical behavior among peers in your work environment.
J. Responsibly use and control all assets and resources employed or entrusted to you.
K. Record or participate in the recording of entries in the Fund's books and records that are accurate to the best of your knowledge.
V. Waivers of This Code
SFOs and other parties subject to this Code may request a waiver of a provision of this Code (or certain provisions of the Fund's Rule 17j-1 Code) by submitting their request in writing to the Compliance Coordinator for appropriate review. An executive officer of the Fund or the Audit Committee will decide whether to grant a waiver. All waivers of this Code must be disclosed to the Fund's shareholders to the extent required by SEC rules. A good faith interpretation of the provisions of this Code, however, shall not constitute a waiver.
VI. Annual Certification
Each SFO will be asked to certify on an annual basis that he/she is in full compliance with the Code and any related policy statements.
VII. Reporting Suspected Violations
A. SFOs or other officers of the Funds or employees of the First Trust group who work on Fund matters who observe, learn of, or, in good faith, suspect a violation of the Code MUST immediately report the violation to the Compliance Coordinator, another member of the Funds' or First Trust's senior management, or to the Audit Committee of the Fund Board. An example of a possible Code violation is the preparation and filing of financial disclosure that omits material facts, or that is accurate but is written in a way that obscures its meaning.
B. Because service providers such as an administrator, outside accounting firm, and custodian provide much of the work relating to the Funds' financial statements, you should be alert for actions by service providers that may be illegal, or that could be viewed as dishonest or unethical conduct. You should report these actions to the Compliance Coordinator even if you know, or think, that the service provider has its own code of ethics for its SFOs or employees.
C. SFOs or other officers or employees who report violations or suspected violations in good faith will not be subject to retaliation of any kind. Reported violations will be investigated and addressed promptly and will be treated confidentially to the extent possible.
VIII. Violations of The Code
A. Dishonest, unethical or illegal conduct will constitute a violation of this Code, regardless of whether this Code specifically refers to that particular conduct. A violation of this Code may result in disciplinary action, up to and including termination of employment. A variety of laws apply to the Funds and their operations, including the Securities Act of 1933, the Investment Company Act of 1940, state laws relating to duties owed by Fund directors and officers, and criminal laws. The federal securities laws generally prohibit the Funds from making material misstatements in its prospectus and other documents filed with the SEC, or from omitting to state a material fact. These material misstatements and omissions include financial statements that are misleading or omit materials facts.
B. Examples of criminal violations of the law include stealing, embezzling, misapplying corporate or bank funds, making a payment for an expressed purpose on a Fund's behalf to an individual who intends to use it for a different purpose; or making payments, whether corporate or personal, of cash or other items of value that are intended to influence the judgment or actions of political candidates, government officials or businesses in connection with any of the Funds' activities. The Funds must and will report all suspected criminal violations to the appropriate authorities for possible prosecution, and will investigate, address and report, as appropriate, non-criminal violations.
Amended: June 1, 2009
Certification Pursuant to Rule 30a-2(a) under the
1940 Act and Section 302
of the Sarbanes-Oxley Act
I, James M. Dykas, certify that:
1. | I have reviewed this report on Form N-CSR of First Trust Exchange-Traded Fund; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
4. | The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and |
(d) | Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
5. | The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
Date: | March 11, 2024 | /s/ James M. Dykas | |||
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
Certification Pursuant to Rule 30a-2(a) under the
1940 Act and Section 302
of the Sarbanes-Oxley Act
I, Derek D. Maltbie, certify that:
1. | I have reviewed this report on Form N-CSR of First Trust Exchange-Traded Fund; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
4. | The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and |
(d) | Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
5. | The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
Date: | March 11, 2024 | /s/ Derek D. Maltbie | |||
Derek D. Maltbie, Treasurer, Chief Financial Officer and Chief Accounting Officer (principal financial officer) |
Certification Pursuant to Rule 30a-2(b) under the
1940 Act and Section 906
of the Sarbanes-Oxley Act
I, James M. Dykas, President and Chief Executive Officer of First Trust Exchange-Traded Fund (the “Registrant”), certify that:
1. | The Form N-CSR of the Registrant (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
2. | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant. |
Date: | March 11, 2024 | /s/ James M. Dykas | |||
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
I, Derek D. Maltbie, Treasurer, Chief Financial Officer and Chief Accounting Officer of First Trust Exchange-Traded Fund (the “Registrant”), certify that:
1. | The Form N-CSR of the Registrant (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
2. | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant. |
Date: | March 11, 2024 | /s/ Derek D. Maltbie | |||
Derek D. Maltbie, Treasurer, Chief Financial Officer and Chief Accounting Officer (principal financial officer) |
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