Rule 497 (k)
                                                             File No. 333-140895


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                                     AlphaDEX(R)
                                          Family of ETFs

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SUMMARY PROSPECTUS

First Trust Utilities AlphaDEX(R) Fund

Ticker Symbol: FXU
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=FXU. 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 December 2, 2013, are all incorporated by
reference into this Summary Prospectus.



INVESTMENT OBJECTIVE

The First Trust Utilities 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 StrataQuant(R) Utilities Index (the
"Index").





FIRST TRUST                                                     December 2, 2013

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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,
which are not reflected in the table below.



                                                                                                      
    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                                                                                    0.50%
      Distribution and Service (12b-1) Fees(1)                                                           0.00%
      Other Expenses                                                                                     0.23%
                                                                                                        -------
      Total Annual Fund Operating Expenses                                                               0.73%
      Fee Waiver and Expense Reimbursement(2)                                                            0.03%
                                                                                                        -------
      Total Net Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement                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. The example also assumes that your investment has a 5% return
    each year and that the Fund's operating expenses remain at current levels
    until November 30, 2014. 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 30, 2014. The example assumes that First Trust's
    agreement to waive fees and/or pay the Fund's expenses to the extent
    necessary to prevent the operating expenses of the Fund (excluding interest
    expense, brokerage commissions and other trading expenses, taxes, and
    extraordinary expenses) from exceeding 0.70% of average daily net assets per
    year will be terminated following November 30, 2014. 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               $274               $505              $1,167

    ----------

    (1) Although the Fund has adopted a 12b-1 plan that permits it to pay up to
        0.25% per annum, it will not pay 12b-1 fees any time before November 30,
        2014.

    (2) First Trust has agreed to waive fees and/or pay the Fund's expenses to
        the extent necessary to prevent the operating expenses of the Fund
        (excluding interest expense, brokerage commissions and other trading
        expenses, taxes, and extraordinary expenses) from exceeding 0.70% of its
        average daily net assets per year at least until November 30, 2014.
        Expenses borne by First Trust are subject to reimbursement by the Fund
        for up to three years from the date the fee or expense was incurred, but
        no reimbursement payment will be made by the Fund at any time if it
        would result in the Fund's expenses exceeding 0.70% of its average daily
        net assets per year. The agreement may be terminated by the Trust on
        behalf of the Fund at any time and by First Trust only after November
        30, 2014 upon 60 days' written notice.

    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 74% 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 "StrataQuant(R) Series," a family of custom enhanced indices
developed, maintained and sponsored by NYSE Euronext or its affiliates ("NYSE
Euronext" or an "Index Provider"), and licensed to First Trust Portfolios L.P.
by NYSE Group, Inc. ("NYSE Group"), an affiliate of NYSE Euronext. Prior to the
acquisition of the American Stock Exchange LLC (the "AMEX") by NYSE Euronext,
the equity indices in the StrataQuant(R) Series were developed, maintained and
sponsored by the AMEX. The Index is a modified equal-dollar weighted index
designed by NYSE Euronext to objectively identify and select stocks from the
Russell 1000(R) Index in the utilities sector that may generate positive alpha
relative to traditional passive-style indices through the use of the AlphaDEX(R)
selection 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 31, 2013, the Index was comprised of 45 stocks. 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
fourth 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. There can be no
assurance that the Fund's investment objective will be achieved.

INDEX CORRELATION 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.

MARKET RISK. Market risk is the risk that a particular security owned by the
Fund or shares of the Fund may fall in value. Securities are subject to market
fluctuations caused by such factors as economic, political, regulatory or market
developments, changes in interest rates and perceived trends in security prices.
Overall security 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.

NON-DIVERSIFICATION RISK. The Fund is classified as "non-diversified" under the
Investment Company Act of 1940, as amended. 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 Fund may invest a relatively high
percentage of its assets in a limited number of issuers. As a result, the Fund
may be more susceptible to a single adverse economic or regulatory occurrence
affecting one or more of these issuers, experience increased volatility and be
highly concentrated in certain issuers.

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.

TELECOMMUNICATIONS COMPANIES RISK. The Fund invests in the securities of
telecommunications companies. Telecommunications companies are subject to risks,
which include increased competition and regulation by various regulatory
authorities, the need to commit substantial capital and technological
obsolescence.

UTILITIES COMPANIES RISK. The Fund invests in the securities of utilities
companies. Utilities companies are subject to the imposition of rate caps,
increased competition, the difficulty in obtaining an adequate return on
invested capital or in financing large construction projects, the limitations on
operations and increased costs attributable to environmental considerations and
the capital market's ability to absorb utility debt. In addition, taxes,
government regulation, international politics, price and supply fluctuations,
volatile interest rates and energy conservation may cause difficulties for
utilities.

ANNUAL TOTAL RETURN

The bar chart and table below illustrate the annual calendar year returns of the
Fund based on net asset value for the past five years as well as the average
annual Fund and Index returns for the one year, five year and since inception
periods ended December 31, 2012. The bar chart and table provide an indication
of the risks of investing in the Fund by showing changes in the Fund's
performance from year-to-year and by showing how the Fund's average annual total
returns based on net asset value compare to those of the Index, a broad-based
market index and two specialized securities market indices. With respect to the
Russell 1000(R) Utilities Index, on or about September 18, 2008, Russell
Investment Group ("Russell") began calculating its Russell U.S. Indices using an
enhanced Russell sector scheme, the Russell Global Sectors (the "RGS"). The RGS
and the former U.S. sector scheme ran in tandem until June 30, 2009, when
Russell officially transitioned to the RGS and ceased calculating its indices
using the U.S. sector scheme. Consequently, performance data is not available
for the Russell 1000(R) Utilities Index for the entire "5 Years" or "Since
Inception" periods set forth in the table because performance data does not
exist using solely the U.S. sector scheme or alternatively, using solely the
RGS. See "Total Return Information" for additional performance information
regarding the Fund. The Fund's performance information is accessible on the
Fund's website at www.ftportfolios.com.

Returns before taxes do not reflect the effects of any income or capital gains
taxes. All after-tax returns are calculated using the historical highest
individual federal marginal income tax rates and do not reflect the impact of
any state or local tax. Returns after taxes on distributions reflect the taxed
return on the payment of dividends and capital gains. Returns after taxes on
distributions and sale of shares assume you sold your shares at period end, and,
therefore, are also adjusted for any capital gains or losses incurred. Returns
for the market indices do not include expenses, which are deducted from Fund
returns, or taxes.

Your own actual after-tax returns will depend on your specific tax situation and
may differ from what is shown here. After-tax returns are not relevant to
investors who hold Fund shares in tax-deferred accounts such as individual
retirement accounts (IRAs) or employee-sponsored retirement plans.





FIRST TRUST UTILITIES ALPHADEX(R) FUND--TOTAL RETURNS(1)

                              [GRAPHIC OMITTED]
                      [DATA POINTS REPRESENTED IN BAR CHART]

                     Calendar Year Total Returns as of 12/31

                              Year              %
                             ------         --------
                              2008          -27.43%
                              2009           22.54%
                              2010           10.54%
                              2011           10.33%
                              2012            3.61%


(1) The Fund's year-to-date return based on net asset value for the period
12/31/2012 to 9/30/2013 was 14.34%.

During the five-year period ended December 31, 2012, the Fund's highest and
lowest calendar quarter returns were 15.35% and -14.04%, respectively, for the
quarters ended June 30, 2009 and March 31, 2008. The Fund's past performance
(before and after taxes) is not necessarily an indication of how the Fund will
perform in the future.

AVERAGE ANNUAL TOTAL RETURNS FOR THE PERIODS ENDED DECEMBER 31, 2012



                                                                                     
                                                                         1 Year     5 Years   Since Inception
                                                                                                 (5/8/2007)
    Return Before Taxes                                                   3.61%       2.36%         1.19%
    Return After Taxes on Distributions                                   2.50%       1.44%         0.12%
    Return After Taxes on Distributions and Sale of Shares                2.33%       1.44%         0.36%
    StrataQuant(R) Utilities Index                                        4.43%       3.23%         2.05%
    Russell 1000(R) Index                                                16.42%       1.92%         1.42%
    S&P 500(R) Utilities Index                                            1.29%       0.36%         0.83%
    Russell 1000(R) Utilities Index                                       7.78%        --            --


MANAGEMENT

    INVESTMENT ADVISOR
    First Trust Advisors L.P. ("First Trust" or the "Advisor")

    PORTFOLIO MANAGERS
    The Fund's portfolio is managed by a team (the "Investment Committee")
    consisting of:

      o   Daniel J. Lindquist, Chairman of the Investment Committee and Managing
          Director of First Trust;

      o   Jon C. Erickson, Senior Vice President of First Trust;

      o   David G. McGarel, Chief Investment Officer and Managing Director of
          First Trust;

      o   Roger F. Testin, Senior Vice President of First Trust; and

      o   Stan Ueland, Senior 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 net asset value,
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, and only to and from broker-dealers and large institutional
investors that have entered into participation agreements. Individual shares may
only be purchased and sold on NYSE Arca through a broker-dealer. Shares of the
Fund trade on NYSE Arca at market prices rather than net asset value, which may
cause the shares to trade at a price greater than net asset value (premium) or
less than net asset value (discount).

TAX INFORMATION

The Fund's distributions are taxable and will generally be taxed as ordinary
income or capital gains. Distributions on shares held in a tax deferred account,
while not immediately taxable, will be subject to tax when the shares are no
longer held in a tax deferred account.

PAYMENTS TO BROKER-DEALERS AND OTHER FINANCIAL INTERMEDIARIES

If you purchase shares of 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.




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