Rule 497 (k)
                                                             File No. 333-140895


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                                  AlphaDEX(R)
                                       Family of ETFs

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SUMMARY PROSPECTUS

First Trust Small Cap Growth AlphaDEX(R) Fund

Ticker Symbol:        FYC
Exchange:             NYSE Arca, Inc.





Before you invest, you may want to review the Fund's prospectus, which contains
more information about the Fund and its risks. You can find the Fund's
prospectus and other information about the Fund, including the statement of
additional information and most recent reports to shareholders, online at
http://www.ftportfolios.com/retail/ETF/ETFfundnews.aspx?Ticker=FYC. You can also
get this information at no cost by calling (800) 621-1675 or by sending an
e-mail request to info@ftportfolios.com. The Fund's prospectus and statement of
additional information, both dated November 30, 2011, are all incorporated by
reference into this Summary Prospectus.



Investment Objective

The First Trust Small Cap Growth AlphaDEX(R) Fund (the "Fund") seeks
investment results that correspond generally to the price and yield
(before the Fund's fees and expenses) of an equity index called the
Defined Small Cap Growth Index (the "Index").





FIRST TRUST                                                    November 30, 2011
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Fees and Expenses of the Fund

The following table describes the fees and expenses you may pay if you
buy and hold Shares of the Fund. Investors purchasing and selling Shares
may be subject to costs (including customary brokerage commissions)
charged by their broker.

  Shareholder Fees (fees paid directly from your investment)
  Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of
  offering price)                                                       None
  Annual Fund Operating Expenses (Expenses that you pay each year
     as a percentage of the value of your investment)
   Management Fees                                                      0.70%
   Distribution and Service (12b-1) Fees                                0.00%
   Other Expenses                                                       0.00%
                                                                       _______
   Total Annual Fund Operating Expenses                                 0.70%

  Example

  The example below is intended to help you compare the cost of investing in the
  Fund with the cost of investing in other funds. This example does not take
  into account customary brokerage commissions that you pay when purchasing or
  selling Shares of the Fund in the secondary market.

  The example assumes that you invest $10,000 in the Fund for the time periods
  indicated and then you retain the Shares or redeem all of your Shares at the
  end of those periods. The example also assumes that your investment has a 5%
  return each year and that the Fund's net operating expenses remain at current
  levels until November 28, 2012. Additionally, the example assumes that the
  Fund imposes a 12b-1 fee of 0.25% per annum of the Fund's average daily net
  assets following November 28, 2012. Although your actual costs may be higher
  or lower, based on these assumptions your costs would be:

               1 Year     3 Years    5 Years   10 Years

                 $72       $269       $493      $1,136

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and
sells securities (or "turns over" its portfolio). A higher portfolio
turnover rate may indicate higher transaction costs and may result in
higher taxes when Shares are held in a taxable account. These costs,
which are not reflected in annual fund operating expenses or in the
example, affect the Fund's performance. During the most recent fiscal
year, the Fund's portfolio turnover rate was 36% of the average value of
its portfolio.

Principal Investment Strategies

The Fund will normally invest at least 90% of its net assets in common
stocks that comprise the Index. The Fund, using an "indexing" investment
approach, attempts to replicate, before fees and expenses, the
performance of the Index. First Trust seeks a correlation of 0.95 or
better (before fees and expenses) between the Fund's performance and the
performance of the Index; a figure of 1.00 would represent perfect
correlation. First Trust will regularly monitor the Fund's tracking
accuracy and will seek to maintain an appropriate correlation.

The Index is in the "Defined Index Series," a family of custom enhanced
indices developed, maintained and sponsored by Standard & Poor's
Financial Services LLC ("S&P" or an "Index Provider"). The Index is a
modified equal-dollar weighted index designed by S&P to objectively
identify and select stocks from the S&P SmallCap 600 Index that may
generate positive alpha relative to traditional passive-style indices
through the use of the AlphaDEX(R) screening methodology. Alpha is an
indication of how much an investment outperforms or underperforms on a
risk-adjusted basis relative to its benchmark. As of July 29, 2011, the
Index was comprised of 202 securities and the market capitalization
range represented in the Index was $86 million to $3.94 billion. The
Index is rebalanced and reconstituted as of the last business day of
each calendar quarter. Changes to the Index will be effective at the
open of trading on the sixth business day of the following month.

Principal Risks

You could lose money by investing in the Fund. An investment in the Fund
is not a deposit of a bank and is not insured or guaranteed by the
Federal Deposit Insurance Corporation or any other governmental agency.

MARKET RISK. Market risk is the risk that a particular stock owned by
the Fund, Shares of the Fund or stocks in general may fall in value.
Shares are subject to market fluctuations caused by such factors as
economic, political, regulatory or market developments, changes in
interest rates and perceived trends in stock prices. Overall stock
values could decline generally or could underperform other investments.
Companies with smaller market capitalizations are generally subject to
additional market risk.





NON-CORRELATION RISK. The Fund's return may not match the return of the
Index for a number of reasons. For example, the Fund incurs operating
expenses not applicable to the Index, and may incur costs in buying and
selling securities, especially when rebalancing the Fund's portfolio
holdings to reflect changes in the composition of the Index. In
addition, the Fund's portfolio holdings may not exactly replicate the
securities included in the Index or the ratios between the securities
included in the Index.

REPLICATION MANAGEMENT RISK. The Fund is exposed to additional market
risk due to its policy of investing principally in the securities
included in the Index. As a result of this policy, securities held by
the Fund will generally not be bought or sold in response to market
fluctuations and the securities may be issued by companies concentrated
in a particular industry. Therefore, the Fund will generally not sell a
stock because the stock's issuer is in financial trouble, unless that
stock is removed or is anticipated to be removed from the Index.

NON-DIVERSIFICATION RISK. The Fund is classified as "non-diversified"
under the Investment Company Act of 1940, as amended (the "1940 Act").
As a result, the Fund is only limited as to the percentage of its assets
which may be invested in the securities of any one issuer by the
diversification requirements imposed by the Internal Revenue Code of
1986, as amended (the "Code"). The Fund may invest a relatively high
percentage of its assets in a limited number of issuers.

INDEX TRACKING RISK. You should anticipate that the value of Fund Shares
will decline, more or less, in correlation with any decline in the value
of that Fund's Index.

GROWTH INVESTMENT STYLE RISK. The Fund's growth-oriented investment
style may not be successful in realizing the Fund's investment
objective. Securities of growth companies may experience significant
fluctuations in price in response to economic, political, regulatory,
company specific, sector or market developments, changes in perceptions
or interest rate changes.

MARKET CAPITALIZATION RISK. The Fund normally invests at least 90% of
its assets in common stocks that comprise the Index. The securities of
companies represented in the Index generally have market capitalizations
that are consistent with the name of the Index. For purposes of
determining the market capitalization range of such securities, the Fund
will use the current range of the Index. However, the Fund will not be
forced to sell a stock because the stock has exceeded or fallen below
the current market capitalization range of the Index. Because of market
movement, there can be no assurance that the securities in the Fund will
stay within a given market capitalization range. As a result, the Fund
may be exposed to additional risk or may not give investors the
opportunity to invest fully in a given market capitalization range.
Because the Fund invests in small capitalization companies, the Fund is
more vulnerable to adverse general market or economic developments, may
be less liquid, and may experience greater price volatility than larger,
more established companies.

SMALLER COMPANY RISK. The Fund invests in small capitalization
companies. Such companies may be more vulnerable to adverse general
market or economic developments, and their securities may be less liquid
and may experience greater price volatility than larger, more
established companies as a result of several factors, including limited
trading volumes, products or financial resources, management
inexperience and less publicly available information. Accordingly, such
companies are generally subject to greater market risk than larger, more
established companies.

Annual Total Return

The Fund has not yet operated for a full calendar year and, therefore,
performance information is not included in this section of the
Prospectus. See "Total Return Information" for performance information
regarding the Fund.

Management

      Investment Advisor

      First Trust Advisors L.P. ("First Trust")

      Portfolio Managers

      The Fund's portfolio is managed by a team (the "Investment Committee")
      consisting of: Daniel J. Lindquist, Chairman of the Investment Committee
      and Senior Vice President of First Trust; Robert F. Carey, Chief
      Investment Officer and Senior Vice President of First Trust; Jon C.
      Erickson, Senior Vice President of First Trust; David G. McGarel, Senior
      Vice President of First Trust; Roger F. Testin, Senior Vice President of
      First Trust; and Stan Ueland, Vice President of First Trust. Each
      Investment Committee member has served as a part of the portfolio
      management team of the Fund since inception.

Purchase and Sale of Fund Shares

The Fund issues and redeems Shares on a continuous basis, at NAV, only
in Creation Units consisting of 50,000 Shares. The Fund's Creation Units
are issued and redeemed principally in-kind for securities included in
the Fund's portfolio. Individual Shares may only be purchased and sold
on NYSE Arca through a broker-dealer. Shares of the Fund will trade on
NYSE Arca at market prices rather than NAV, which may cause the Shares
to trade at a price greater than NAV (premium) or less than NAV
(discount).





Tax Information

The Fund's distributions are taxable and will generally be taxed as
ordinary income or capital gains.

Payments to Broker-Dealers and Other Financial Intermediaries

If you purchase the Fund through a broker-dealer or other financial
intermediary (such as a bank), First Trust and First Trust Portfolios
L.P., the Fund's distributor, may pay the intermediary for the sale of
Fund Shares and related services. These payments may create a conflict
of interest by influencing the broker-dealer or other intermediary and
your salesperson to recommend the Fund over another investment. Ask your
salesperson or visit your financial intermediary's website for more
information.


                                                                    FYCSP0113011