0001445546-18-003967.txt : 20180904 0001445546-18-003967.hdr.sgml : 20180904 20180904160940 ACCESSION NUMBER: 0001445546-18-003967 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 16 FILED AS OF DATE: 20180904 DATE AS OF CHANGE: 20180904 EFFECTIVENESS DATE: 20180904 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST TRUST EXCHANGE-TRADED FUND VI CENTRAL INDEX KEY: 0001552740 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-182308 FILM NUMBER: 181052506 BUSINESS ADDRESS: STREET 1: 120 EAST LIBERTY DRIVE, SUITE 400 CITY: WHEATON STATE: IL ZIP: 60187 BUSINESS PHONE: 630-765-8000 MAIL ADDRESS: STREET 1: 120 EAST LIBERTY DRIVE, SUITE 400 CITY: WHEATON STATE: IL ZIP: 60187 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST TRUST EXCHANGE-TRADED FUND VI CENTRAL INDEX KEY: 0001552740 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-22717 FILM NUMBER: 181052505 BUSINESS ADDRESS: STREET 1: 120 EAST LIBERTY DRIVE, SUITE 400 CITY: WHEATON STATE: IL ZIP: 60187 BUSINESS PHONE: 630-765-8000 MAIL ADDRESS: STREET 1: 120 EAST LIBERTY DRIVE, SUITE 400 CITY: WHEATON STATE: IL ZIP: 60187 0001552740 S000041989 First Trust S&P International Dividend Aristocrats ETF C000130399 First Trust S&P International Dividend Aristocrats ETF FID 485BPOS 1 etf6_485b.htm INTERACTIVE DATA

As filed with the Securities and Exchange Commission on September 4, 2018

 

1933 Act Registration No. 333-182308

1940 Act Registration No. 811-22717

 

United States

Securities and Exchange Commission

Washington, D.C. 20549

Form N-1A
 

Registration Statement Under the Securities Act of 1933 [   ]
Pre-Effective Amendment No. __ [   ]
Post-Effective Amendment No. 110 [X]
and/or
Registration Statement Under the Investment Company Act of 1940 [   ]
Amendment No. 112 [X]

First Trust Exchange-Traded Fund VI

(Exact name of registrant as specified in charter)

120 East Liberty Drive, Suite 400

Wheaton, Illinois 60187

(Address of Principal Executive Offices) (Zip Code)

Registrant’s Telephone Number, including Area Code: (800) 621-1675

W. Scott Jardine, Esq., Secretary

First Trust Exchange-Traded Fund VI

First Trust Advisors L.P.

120 East Liberty Drive, Suite 400

Wheaton, Illinois 60187

(Name and Address of Agent for Service)

Copy to:

Eric F. Fess, Esq.

Chapman and Cutler LLP

111 West Monroe Street

Chicago, Illinois 60603

It is proposed that this filing will become effective (check appropriate box):

[X] immediately upon filing pursuant to paragraph (b)

[   ] on (date) pursuant to paragraph (b)

[   ] 60 days after filing pursuant to paragraph (a)(1)

[   ] on (date) pursuant to paragraph (a)(1)

[   ] 75 days after filing pursuant to paragraph (a)(2)

[   ] on (date) pursuant to paragraph (a)(2) of Rule 485.

If appropriate, check the following box:

[   ] this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 
 

 

This Registration Statement relates to First Trust S&P International Dividend Aristocrats ETF, a series of the Registrant.

 

 
 

Signatures

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, duly authorized in the City of Wheaton, and State of Illinois, on the 4th day of September, 2018.

 

  First Trust Exchange-Traded Fund VI
  By: /s/ James M. Dykas
    James M. Dykas, President and
Chief Executive Officer

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the date indicated: 

Signature Title   Date
/s/ James M. Dykas President and Chief Executive
Officer
September 4, 2018
James M. Dykas      
/s/ Donald P. Swade Treasurer, Chief Financial Officer
and Chief Accounting Officer
September 4, 2018
Donald P. Swade      
James A. Bowen* )
Trustee )
   
  )    
Richard E. Erickson* )
Trustee )
   
  )    
Thomas R. Kadlec* )
Trustee )
   
  ) By: /s/ W. Scott Jardine
Robert F. Keith* )
Trustee )
  W. Scott Jardine
Attorney-In-Fact
  )   September 4, 2018
Niel B. Nielson * )
Trustee )
   
  )    
*Original powers of attorney authorizing W. Scott Jardine, James M. Dykas, Eric F. Fess and Kristi A. Maher to execute Registrant's Registration Statement, and Amendments thereto, for each of the trustees of the Registrant on whose behalf this Registration Statement is filed, were previously executed, filed as an exhibit and are incorporated by reference herein.

 

Index to Exhibits

 

(101)Risk/return summary in interactive data format

EX-101.INS 3 ftetfvi-20180830.xml XBRL INSTANCE FILE 0001552740 2018-08-30 2018-08-30 0001552740 ftetfvi:S000041989Member 2018-08-30 2018-08-30 0001552740 ftetfvi:S000041989Member ftetfvi:C000130399Member 2018-08-30 2018-08-30 0001552740 ftetfvi:S000041989Member ftetfvi:C000130399Member ftetfvi:AftertaxondistributionsMember 2018-08-30 2018-08-30 0001552740 ftetfvi:S000041989Member ftetfvi:C000130399Member ftetfvi:AftertaxondistributionsandsaleoffundsharesMember 2018-08-30 2018-08-30 0001552740 ftetfvi:S000041989Member ftetfvi:NASDAQInternationalMultiAssetDiversifiedIncomeIndexMember 2018-08-30 2018-08-30 0001552740 ftetfvi:S000041989Member ftetfvi:MSCIWorldIndexExUSMember 2018-08-30 2018-08-30 0001552740 ftetfvi:S000041989Member ftetfvi:DowJonesEPACSelectDividendIndexMember 2018-08-30 2018-08-30 pure iso4217:USD 2018-08-30 2018-08-30 First Trust Exchange-Traded Fund VI 0001552740 false 2018-08-30 2018-08-30 485BPOS <p>Summary Information</p> <p>Investment Objective</p> <p>The First Trust S&amp;P International Dividend Aristocrats&#160;ETF (the <i>"Fund"</i>), formerly the International Multi-Asset Diversified Income Index Fund, seeks investment results that correspond generally to the price and yield (before the Fund&#39;s fees and expenses) of an index called the S&amp;P International Dividend Aristocrats Index (the <i>"Index"</i>).</p> <p>Fees and Expenses of the Fund</p> <p>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.</p> <p> <b>Shareholder Fees</b> <br />(fees paid directly from your investment)</p> <p></p><p> <b>Annual Fund Operating Expenses</b> <br />(expenses that you pay each year as a percentage of the value of your investment)</p> <p>Example</p> <p>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.</p><p>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&#39;s operating expenses remain at current levels. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>Portfolio Turnover</p> <p>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 Fund 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&#39;s performance. During the most recent fiscal year, the Fund&#39;s portfolio turnover rate was 129% of the average value of its portfolio.</p> <p>Principal Investment Strategies</p> <p>Under normal conditions, the Fund will invest at least 90% of its net assets (including investment borrowings) in the equity securities that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Fund&#39;s investment advisor seeks a correlation of 0.95 or better (before fees and expenses) between the Fund&#39;s performance and the performance of the Index; a figure of 1.00 would represent perfect correlation. </p><p>The Index is owned and was developed by S&amp;P Dow Jones Indices, LLC a division of S&amp;P Global (<i>"SPDJI"</i> or the <i>"Index Provider"</i>). The Index measures the performance of high dividend yielding companies that have followed a managed-dividends policy of increasing or maintaining dividends for at least ten consecutive years.</p><p>The Index&#39;s initial investible universe consists of all the securities comprising the S&amp;P Global Broad Market Index. The S&amp;P Global Broad Market Index is an equity index measuring global stock market performance that includes securities issued by small, mid and large capitalization companies domiciled in both developed and emerging markets. This initial universe is subsequently narrowed by removing securities that do not meet the following eligibility requirements as of the last business day of December of each year (the <i>"Annual Rebalance Reference Date"</i>):</p><ul> <li> <i>Market Capitalization.</i> Securities must have a float-adjusted market capitalization of at least $1 billion.</li> </ul><ul> <li> <i>Liquidity.</i> Securities must have an average daily traded value of at least $5 million for the prior three months.</li> </ul><ul> <li> <i>Dividend Growth.</i> Securities must have increased dividends or maintained stable dividends every year for at least the prior ten consecutive years.</li> </ul><ul> <li> <i>Payout Ratio.</i> Securities must have a maximum 100% dividend payout ratio. The dividend payout ratio is the amount of dividend paid to stockholders relative to the amount of total net income of a company. It is calculated by dividing a security&#39;s dividend-per-share amount by its earnings-per-share amount, using data from the prior twelve months.</li> </ul><ul> <li> <i>Dividend Yield.</i> Securities must have a maximum 10% indicated dividend yield. A security&#39;s indicated dividend yield is calculated by multiplying the amount of its most recent dividend payment by the number of dividend payments per year, and then dividing that number by the company&#39;s stock price.</li> </ul><p>The securities that meet these eligibility requirements are then ranked based upon their indicated dividend yield as of the Annual Rebalance Reference Date. The 100 securities with the highest indicated dividend yield are selected, with the number of securities from each country capped at 20. If the number of securities from a country reaches 20, the highest yielding securities from other countries are selected until the number of Index securities reaches 100. If the eligible highest yielding securities are overly concentrated (beyond 35 securities) in an individual Global Industry Classification Standard (<i>"GICS&#174;"</i>) sector, the next highest yielding securities from the sector with less than 35 securities are selected until the count reaches 100. From these 100 securities, all U.S. securities are removed from the universe. Based on the country caps on the number of securities (20), excluding U.S. securities, the portfolio will generally consist of 80-100 securities. The Index seeks to be composed of at least 80 constituent securities. If the number of eligible constituent securities is fewer than 80 at the time of the annual rebalancing, then the minimum float-adjusted market capitalization requirement is lowered from $1 billion to $500 million and the requirement that a constituent security have increased or maintained stable dividends every year for at least the prior ten consecutive years is reduced so that a security may be eligible if it has increased or maintained stable dividends every year for the prior seven consecutive years. </p><p>In order to achieve a relatively high dividend yield, the Index constituents are weighted by indicated annual dividend yield. At each rebalancing, the weight for each Index constituent is capped at 3%, and the weight of each country and GICS&#174; sector is capped at 25%, respectively.</p><p>The Index is rebalanced and reconstituted annually, effective after the close of business on the last trading date of January. The inception date of the Index was April 29, 2018. The Fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated. As of August 1, 2018, the Index had significant exposure to financial companies and utilities companies.</p> <p>Principal Risks</p> <p>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&#39;s investment objective will be achieved.</p><p> <b>AUTHORIZED PARTICIPANT CONCENTRATION RISK.</b> Only an authorized participant (as defined in the "Frequent Purchases and Redemptions" Section) may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of institutions that act as authorized participants. To the extent that these institutions exit the business or are unable to proceed with creation and/or redemption orders with respect to the Fund and no other authorized participant is able to step forward to create or redeem, in either of these cases, Fund shares may trade at a discount to the Fund&#39;s net asset value and possibly face delisting.</p><p> <b>CONCENTRATION RISK.</b> To the extent that the Fund invests a large percentage of its assets in a single asset class or the securities of issuers within the same country, state, region, industry or sector, an adverse economic, business or political development may affect the value of the Fund&#39;s investments more than if the Fund were more broadly diversified. A concentration makes the Fund more susceptible to any single occurrence and may subject the Fund to greater market risk than a fund that is not so concentrated.</p><p> <b>CURRENCY RISK.</b> An investment in non-U.S. securities involves further risk due to currency exchange rates. Changes in currency exchange rates may affect the Fund&#39;s net asset value, the value of dividends and interest earned, and gains and losses realized on the sale of securities. An increase in the strength of the U.S. dollar relative to other currencies may cause the value of the Fund to decline. Certain non-U.S. currencies may be particularly volatile, and non-U.S. governments may intervene in the currency markets, causing a decline in value or liquidity in the Fund&#39;s non-U.S. holdings whose value is tied to the affected non-U.S. currency.</p><p> <b>CYBER SECURITY RISK.</b> As the use of Internet technology has become more prevalent in the course of business, the Fund has become more susceptible to potential operational risks through breaches in cyber security. A breach in cyber security refers to both intentional and unintentional events that may cause the Fund to lose proprietary information, suffer data corruption or lose operational capacity. Such events could cause the Fund to incur regulatory penalties, reputational damage, additional compliance costs associated with corrective measures and/or financial loss. Cyber security breaches may involve unauthorized access to the Fund&#39;s digital information systems through "hacking" or malicious software coding, but may also result from outside attacks such as denial-of-service attacks through efforts to make network services unavailable to intended users. In addition, cyber security breaches of the Fund&#39;s third party service providers, such as its administrator, transfer agent, custodian, &#160;or sub advisor, as applicable, or issuers in which the Fund invests, can also subject the Fund to many of the same risks associated with direct cyber security breaches. The Fund has established risk management systems designed to reduce the risks associated with cyber security. However, there is no guarantee that such efforts will succeed, especially because the Fund does not directly control the cyber security systems of issuers or third party service providers.</p><p> <b>DEPOSITARY RECEIPTS RISK.</b> Depositary receipts may be less liquid than the underlying shares in their primary trading market. Any distributions paid to the holders of depositary receipts are usually subject to a fee charged by the depositary. Holders of depositary receipts may have limited voting rights, and investment restrictions in certain countries may adversely impact the value of depositary receipts because such restrictions may limit the ability to convert the equity shares into depositary receipts and vice versa. Such restrictions may cause the equity shares of the underlying issuer to trade at a discount or premium to the market price of the depositary receipts. </p><p> <b>DIVIDEND RISK.</b> There is no guarantee that the issuers of the Fund&#39;s portfolio securities will declare dividends in the future or that, if declared, they will either remain at current levels or increase over time.</p><p> <b>EMERGING MARKETS RISK.</b> Investments in securities and instruments traded in developing or emerging markets or that provide exposure to such securities or markets, can involve additional risks relating to political, economic, or regulatory conditions not associated with investments in U.S. securities and instruments or investments in more developed international markets. Emerging market governments may, without prior warning, impose capital controls on the ability to transfer currency, securities or other assets. The Fund&#39;s ability to access certain developing or emerging markets also may be limited due to a variety of factors, including currency convertibility issues. Such conditions may impact the ability of the Fund to buy, sell or otherwise transfer securities, cause the Fund&#39;s returns to differ from those available to domestic investors, adversely affect the trading market and price for Fund shares, and cause the Fund to decline in value. Investments in securities of issuers located in emerging market countries are considered speculative. Heightened risks of investing in emerging markets securities include: (i) smaller market capitalization of securities markets, which may suffer periods of relative illiquidity; (ii) significant price volatility; (iii) restrictions on foreign investment; and (iv) possible repatriation of investment income and capital. Furthermore, non-U.S. investors may be required to register the proceeds of sales and future economic or political crises could lead to price controls, forced mergers, expropriation or confiscatory taxation, seizure, nationalization or creation of government monopolies.</p><p> <b>EQUITY SECURITIES RISK.</b> Because the Fund invests in equity securities, the value of the Fund&#39;s shares will fluctuate with changes in the value of these equity securities. Equity securities prices fluctuate for several reasons, including changes in investors&#39; perceptions of the financial condition of an issuer or the general condition of the relevant stock market, such as market volatility, or when political or economic events affecting the issuers occur. In addition, common stock prices may be particularly sensitive to rising interest rates, as the cost of capital rises and borrowing costs increase. </p><p> <b>FINANCIAL COMPANIES RISK.</b> Financial companies are especially subject to the adverse effects of economic recession, currency exchange rates, government regulation, decreases in the availability of capital, volatile interest rates, portfolio concentrations in geographic markets and in commercial and residential real estate loans, and competition from new entrants in their fields of business.</p><p> <b>FLUCTUATION OF NET ASSET VALUE RISK.</b> The net asset value of shares of the Fund will generally fluctuate with changes in the market value of the Fund&#39;s holdings. The market prices of shares will generally fluctuate in accordance with changes in net asset value as well as the relative supply of and demand for shares on the Exchange. The Fund&#39;s investment advisor cannot predict whether shares will trade below, at or above their net asset value because the shares trade on the Exchange at market prices and not at net asset value. Price differences may be due, in large part, to the fact that supply and demand forces at work in the secondary trading market for shares will be closely related to, but not identical to, the same forces influencing the prices of the holdings of the Fund trading individually or in the aggregate at any point in time. However, given that shares can only be purchased and redeemed either in-kind or for cash in Creation Units, and only to and from broker-dealers and large institutional investors that have entered into participation agreements (unlike shares of closed-end funds, which frequently trade at appreciable discounts from, and sometimes at premiums to, their net asset value), the Fund&#39;s investment advisor believes that large discounts or premiums to the net asset value of shares should not be sustained.</p><p> <b>MARKET MAKER RISK.</b> If the Fund has lower average daily trading volumes, it may rely on a small number of third-party market makers to provide a market for the purchase and sale of shares. Any trading halt or other problem relating to the trading activity of these market makers could result in a dramatic change in the spread between the Fund&#39;s net asset value and the price at which the Fund&#39;s shares are trading on the Exchange, which could result in a decrease in value of the Fund&#39;s shares. In addition, decisions by market makers or authorized participants to reduce their role or step away from these activities in times of market stress could inhibit the effectiveness of the arbitrage process in maintaining the relationship between the underlying values of the Fund&#39;s portfolio securities and the Fund&#39;s market price. This reduced effectiveness could result in Fund shares trading at a discount to net asset value and also in greater than normal intraday bid-ask spreads for Fund shares.</p><p> <b>MARKET RISK.</b> Market risk is the risk that a particular security owned by the Fund or shares of the Fund in general 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 securities prices. Shares of the Fund could decline in value or underperform other investments. </p><p> <b>NON-CORRELATION RISK.</b> The Fund&#39;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&#39;s portfolio holdings to reflect changes in the composition of the Index. In addition, the Fund&#39;s portfolio holdings may not exactly replicate the securities included in the Index or the ratios between the securities included in the Index.</p><p> <b>NON-U.S. SECURITIES RISK.</b> Non-U.S. securities are subject to higher volatility than securities of domestic issuers due to possible adverse political, social or economic developments; restrictions on foreign investment or exchange of securities; lack of liquidity; currency exchange rates; excessive taxation; government seizure of assets; different legal or accounting standards; and less government supervision and regulation of exchanges in foreign countries. </p><p> <b>PASSIVE INVESTMENT RISK.</b> The Fund is not actively managed. The Fund invests in securities included in or representative of its Index regardless of their investment merit. The Fund generally will not attempt to take defensive positions in declining markets. In the event that the Index is no longer calculated, the Index license is terminated or the identity or character of the Index is materially changed, the Fund will seek to engage a replacement index.</p><p> <b>PORTFOLIO TURNOVER RISK.</b> The Fund&#39;s strategy may frequently involve buying and selling portfolio securities pursuant to its principal investment strategy. High portfolio turnover may result in the Fund paying higher levels of transaction costs and generating greater tax liabilities for shareholders. Portfolio turnover risk may cause the Fund&#39;s performance to be less than you expect.</p><p> <b>SMALL FUND RISK.</b> The Fund currently has fewer assets than larger funds, and like other smaller funds, large inflows and outflows may impact the Fund&#39;s market exposure for limited periods of time. This impact may be positive or negative, depending on the direction of market movement during the period affected. </p><p> <b>SMALLER COMPANIES RISK.</b> Small and/or mid capitalization 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.</p><p> <b>TRADING ISSUES RISK</b>. Although the shares of the Fund are listed for trading on the Exchange, there can be no assurance that an active trading market for such shares will develop or be maintained. Trading in shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange, make trading in shares inadvisable. In addition, trading in shares on the Exchange is subject to trading halts caused by extraordinary market volatility pursuant to the Exchange&#39;s "circuit breaker" rules. Market makers are under no obligation to make a market in the Fund&#39;s shares, and authorized participants are not obligated to submit purchase or redemption orders for Creation Units. There can be no assurance that the requirements of the Exchange necessary to maintain the listing of the Fund will continue to be met or will remain unchanged. The Fund may have difficulty maintaining its listing on the Exchange in the event the Fund&#39;s assets are small or the Fund does not have enough shareholders.</p><p> <b>UTILITIES COMPANIES RISK.</b> The Fund invests in the securities of utilities companies.&#160; General problems of utilities companies include the imposition of rate caps, increased competition due to deregulation, the difficulty in obtaining an adequate return on invested capital or in financing large construction projects, the limitations on operations and increased costs and delays attributable to environmental considerations and the capital market&#39;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. All of such issuers have been experiencing certain of these problems in varying degrees.</p> <p>Annual Total Return</p> <p>The bar chart and table below illustrate the annual calendar year returns of the Fund based on net asset value as well as the average annual Fund and Index returns. The bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund&#39;s performance from year-to-year and by showing how the Fund&#39;s average annual total returns based on net asset value compared to those of the Fund&#39;s previous Index, the Index&#160;and&#160;a broad-based market index. See "Total Return Information" for additional performance information regarding the Fund. The Fund&#39;s performance information is accessible on the Fund&#39;s website at www.ftportfolios.com.</p><p>On August 30, 2018, the Fund&#39;s underlying index changed from the NASDAQ International Multi-Asset Diversified Income Index<sup>SM</sup> to the S&amp;P International Dividend Aristocrats Index. Therefore, the Fund&#39;s performance and historical returns shown below are not necessarily indicative of the performance that the Fund, based on the Index, would have generated. Returns for an underlying index are only disclosed for those periods in which the index was in existence for the whole period.</p><p>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.</p><p>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 (<i>IRAs</i>) or employee-sponsored retirement plans.</p> <p>First Trust S&amp;P International Dividend Aristocrats ETF (formerly International Multi-Asset Diversified Income Index Fund)<br />Calendar Year Total Returns as of 12/31 <sup>(1)</sup></p> (1)The Fund&#39;s calendar year-to-date total return based on net asset value for the period 12/31/17 to 6/30/18 was -4.86%. <p>During the periods shown in the chart above:</p><table> <tr> <td valign="top" align="left">Best Quarter</td> <td valign="top" align="left" /> <td valign="top" align="left">Worst Quarter</td> <td valign="top" align="left" /> </tr> <tr> <td valign="top" align="left">7.81%</td> <td valign="top" align="left">March 31, 2017</td> <td valign="top" align="left">-11.70%</td> <td valign="top" align="left">September 30, 2015</td> </tr> </table><p></p><p>The Fund&#39;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</p> <p>Average Annual Total Returns for the Periods Ended December 31, 2017</p> 0 0.006 0 0 0.006 61 246 447 1026 1.29 -0.0023 -0.1302 0.0634 0.2094 Best Quarter Worst Quarter 0.0781 2017-03-31 -0.117 2015-09-30 0.2094 0.0372 2013-08-22 0.1837 0.0142 0.1178 0.0175 0.2282 0.0537 0.2421 0.0641 <div style="display:none">~ http://www.ftportfolios.com/role/ScheduleAnnualFundOperatingExpenses000013 column period compact * ~</div> <div style="display:none">~ http://www.ftportfolios.com/role/ScheduleAnnualTotalReturnsBarChart000016 column period compact * ~</div> <div style="display:none">~ http://www.ftportfolios.com/role/ScheduleExpenseExampleNoRedemptionTransposed000015 column period compact * ~</div> <div style="display:none">~ http://www.ftportfolios.com/role/ScheduleAverageAnnualTotalReturnsTransposed000017 column period compact * ~</div> <div style="display:none">~ http://www.ftportfolios.com/role/ScheduleShareholderFees000012 column period compact * ~</div> On August 30, 2018, the Fund's underlying index changed from the NASDAQ International Multi-Asset Diversified Income Index(SM) to the S&P International Dividend Aristocrats Index. Because the Fund's new underlying index had an inception date of April 29, 2018, performance information is not included above. 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. 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Document Type dei_DocumentType 485BPOS
Period End Date dei_DocumentPeriodEndDate Aug. 30, 2018
Registrant Name dei_EntityRegistrantName First Trust Exchange-Traded Fund VI
CIK dei_EntityCentralIndexKey 0001552740
Amendment Flag dei_AmendmentFlag false
Document Created Date dei_DocumentCreationDate Aug. 30, 2018
Effective Date dei_DocumentEffectiveDate Aug. 30, 2018
Prospectus Date rr_ProspectusDate Aug. 30, 2018
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First Trust S and P International Dividend Aristocrats ETF

Summary Information

Investment Objective

The First Trust S&P International Dividend Aristocrats ETF (the "Fund"), formerly the International Multi-Asset Diversified Income Index Fund, seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called the S&P International Dividend Aristocrats Index (the "Index").

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)

Shareholder Fees
First Trust S and P International Dividend Aristocrats ETF
First Trust S and P International Dividend Aristocrats ETF
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)

Annual Fund Operating Expenses
First Trust S and P International Dividend Aristocrats ETF
First Trust S and P International Dividend Aristocrats ETF
Management Fees 0.60%
Distribution and Service (12b-1) Fees none
Other Expenses none
Total Annual Fund Operating Expenses 0.60%

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. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example, No Redemption
1 Year
3 Years
5 Years
10 Years
First Trust S and P International Dividend Aristocrats ETF | First Trust S and P International Dividend Aristocrats ETF | USD ($) 61 246 447 1,026

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 Fund 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 129% of the average value of its portfolio.

Principal Investment Strategies

Under normal conditions, the Fund will invest at least 90% of its net assets (including investment borrowings) in the equity securities that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Fund's investment advisor 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.

The Index is owned and was developed by S&P Dow Jones Indices, LLC a division of S&P Global ("SPDJI" or the "Index Provider"). The Index measures the performance of high dividend yielding companies that have followed a managed-dividends policy of increasing or maintaining dividends for at least ten consecutive years.

The Index's initial investible universe consists of all the securities comprising the S&P Global Broad Market Index. The S&P Global Broad Market Index is an equity index measuring global stock market performance that includes securities issued by small, mid and large capitalization companies domiciled in both developed and emerging markets. This initial universe is subsequently narrowed by removing securities that do not meet the following eligibility requirements as of the last business day of December of each year (the "Annual Rebalance Reference Date"):

  • Market Capitalization. Securities must have a float-adjusted market capitalization of at least $1 billion.
  • Liquidity. Securities must have an average daily traded value of at least $5 million for the prior three months.
  • Dividend Growth. Securities must have increased dividends or maintained stable dividends every year for at least the prior ten consecutive years.
  • Payout Ratio. Securities must have a maximum 100% dividend payout ratio. The dividend payout ratio is the amount of dividend paid to stockholders relative to the amount of total net income of a company. It is calculated by dividing a security's dividend-per-share amount by its earnings-per-share amount, using data from the prior twelve months.
  • Dividend Yield. Securities must have a maximum 10% indicated dividend yield. A security's indicated dividend yield is calculated by multiplying the amount of its most recent dividend payment by the number of dividend payments per year, and then dividing that number by the company's stock price.

The securities that meet these eligibility requirements are then ranked based upon their indicated dividend yield as of the Annual Rebalance Reference Date. The 100 securities with the highest indicated dividend yield are selected, with the number of securities from each country capped at 20. If the number of securities from a country reaches 20, the highest yielding securities from other countries are selected until the number of Index securities reaches 100. If the eligible highest yielding securities are overly concentrated (beyond 35 securities) in an individual Global Industry Classification Standard ("GICS®") sector, the next highest yielding securities from the sector with less than 35 securities are selected until the count reaches 100. From these 100 securities, all U.S. securities are removed from the universe. Based on the country caps on the number of securities (20), excluding U.S. securities, the portfolio will generally consist of 80-100 securities. The Index seeks to be composed of at least 80 constituent securities. If the number of eligible constituent securities is fewer than 80 at the time of the annual rebalancing, then the minimum float-adjusted market capitalization requirement is lowered from $1 billion to $500 million and the requirement that a constituent security have increased or maintained stable dividends every year for at least the prior ten consecutive years is reduced so that a security may be eligible if it has increased or maintained stable dividends every year for the prior seven consecutive years.

In order to achieve a relatively high dividend yield, the Index constituents are weighted by indicated annual dividend yield. At each rebalancing, the weight for each Index constituent is capped at 3%, and the weight of each country and GICS® sector is capped at 25%, respectively.

The Index is rebalanced and reconstituted annually, effective after the close of business on the last trading date of January. The inception date of the Index was April 29, 2018. The Fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated. As of August 1, 2018, the Index had significant exposure to financial companies and utilities companies.

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.

AUTHORIZED PARTICIPANT CONCENTRATION RISK. Only an authorized participant (as defined in the "Frequent Purchases and Redemptions" Section) may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of institutions that act as authorized participants. To the extent that these institutions exit the business or are unable to proceed with creation and/or redemption orders with respect to the Fund and no other authorized participant is able to step forward to create or redeem, in either of these cases, Fund shares may trade at a discount to the Fund's net asset value and possibly face delisting.

CONCENTRATION RISK. To the extent that the Fund invests a large percentage of its assets in a single asset class or the securities of issuers within the same country, state, region, industry or sector, an adverse economic, business or political development may affect the value of the Fund's investments more than if the Fund were more broadly diversified. A concentration makes the Fund more susceptible to any single occurrence and may subject the Fund to greater market risk than a fund that is not so concentrated.

CURRENCY RISK. An investment in non-U.S. securities involves further risk due to currency exchange rates. Changes in currency exchange rates may affect the Fund's net asset value, the value of dividends and interest earned, and gains and losses realized on the sale of securities. An increase in the strength of the U.S. dollar relative to other currencies may cause the value of the Fund to decline. Certain non-U.S. currencies may be particularly volatile, and non-U.S. governments may intervene in the currency markets, causing a decline in value or liquidity in the Fund's non-U.S. holdings whose value is tied to the affected non-U.S. currency.

CYBER SECURITY RISK. As the use of Internet technology has become more prevalent in the course of business, the Fund has become more susceptible to potential operational risks through breaches in cyber security. A breach in cyber security refers to both intentional and unintentional events that may cause the Fund to lose proprietary information, suffer data corruption or lose operational capacity. Such events could cause the Fund to incur regulatory penalties, reputational damage, additional compliance costs associated with corrective measures and/or financial loss. Cyber security breaches may involve unauthorized access to the Fund's digital information systems through "hacking" or malicious software coding, but may also result from outside attacks such as denial-of-service attacks through efforts to make network services unavailable to intended users. In addition, cyber security breaches of the Fund's third party service providers, such as its administrator, transfer agent, custodian,  or sub advisor, as applicable, or issuers in which the Fund invests, can also subject the Fund to many of the same risks associated with direct cyber security breaches. The Fund has established risk management systems designed to reduce the risks associated with cyber security. However, there is no guarantee that such efforts will succeed, especially because the Fund does not directly control the cyber security systems of issuers or third party service providers.

DEPOSITARY RECEIPTS RISK. Depositary receipts may be less liquid than the underlying shares in their primary trading market. Any distributions paid to the holders of depositary receipts are usually subject to a fee charged by the depositary. Holders of depositary receipts may have limited voting rights, and investment restrictions in certain countries may adversely impact the value of depositary receipts because such restrictions may limit the ability to convert the equity shares into depositary receipts and vice versa. Such restrictions may cause the equity shares of the underlying issuer to trade at a discount or premium to the market price of the depositary receipts.

DIVIDEND RISK. There is no guarantee that the issuers of the Fund's portfolio securities will declare dividends in the future or that, if declared, they will either remain at current levels or increase over time.

EMERGING MARKETS RISK. Investments in securities and instruments traded in developing or emerging markets or that provide exposure to such securities or markets, can involve additional risks relating to political, economic, or regulatory conditions not associated with investments in U.S. securities and instruments or investments in more developed international markets. Emerging market governments may, without prior warning, impose capital controls on the ability to transfer currency, securities or other assets. The Fund's ability to access certain developing or emerging markets also may be limited due to a variety of factors, including currency convertibility issues. Such conditions may impact the ability of the Fund to buy, sell or otherwise transfer securities, cause the Fund's returns to differ from those available to domestic investors, adversely affect the trading market and price for Fund shares, and cause the Fund to decline in value. Investments in securities of issuers located in emerging market countries are considered speculative. Heightened risks of investing in emerging markets securities include: (i) smaller market capitalization of securities markets, which may suffer periods of relative illiquidity; (ii) significant price volatility; (iii) restrictions on foreign investment; and (iv) possible repatriation of investment income and capital. Furthermore, non-U.S. investors may be required to register the proceeds of sales and future economic or political crises could lead to price controls, forced mergers, expropriation or confiscatory taxation, seizure, nationalization or creation of government monopolies.

EQUITY SECURITIES RISK. Because the Fund invests in equity securities, the value of the Fund's shares will fluctuate with changes in the value of these equity securities. Equity securities prices fluctuate for several reasons, including changes in investors' perceptions of the financial condition of an issuer or the general condition of the relevant stock market, such as market volatility, or when political or economic events affecting the issuers occur. In addition, common stock prices may be particularly sensitive to rising interest rates, as the cost of capital rises and borrowing costs increase.

FINANCIAL COMPANIES RISK. Financial companies are especially subject to the adverse effects of economic recession, currency exchange rates, government regulation, decreases in the availability of capital, volatile interest rates, portfolio concentrations in geographic markets and in commercial and residential real estate loans, and competition from new entrants in their fields of business.

FLUCTUATION OF NET ASSET VALUE RISK. The net asset value of shares of the Fund will generally fluctuate with changes in the market value of the Fund's holdings. The market prices of shares will generally fluctuate in accordance with changes in net asset value as well as the relative supply of and demand for shares on the Exchange. The Fund's investment advisor cannot predict whether shares will trade below, at or above their net asset value because the shares trade on the Exchange at market prices and not at net asset value. Price differences may be due, in large part, to the fact that supply and demand forces at work in the secondary trading market for shares will be closely related to, but not identical to, the same forces influencing the prices of the holdings of the Fund trading individually or in the aggregate at any point in time. However, given that shares can only be purchased and redeemed either in-kind or for cash in Creation Units, and only to and from broker-dealers and large institutional investors that have entered into participation agreements (unlike shares of closed-end funds, which frequently trade at appreciable discounts from, and sometimes at premiums to, their net asset value), the Fund's investment advisor believes that large discounts or premiums to the net asset value of shares should not be sustained.

MARKET MAKER RISK. If the Fund has lower average daily trading volumes, it may rely on a small number of third-party market makers to provide a market for the purchase and sale of shares. Any trading halt or other problem relating to the trading activity of these market makers could result in a dramatic change in the spread between the Fund's net asset value and the price at which the Fund's shares are trading on the Exchange, which could result in a decrease in value of the Fund's shares. In addition, decisions by market makers or authorized participants to reduce their role or step away from these activities in times of market stress could inhibit the effectiveness of the arbitrage process in maintaining the relationship between the underlying values of the Fund's portfolio securities and the Fund's market price. This reduced effectiveness could result in Fund shares trading at a discount to net asset value and also in greater than normal intraday bid-ask spreads for Fund shares.

MARKET RISK. Market risk is the risk that a particular security owned by the Fund or shares of the Fund in general 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 securities prices. Shares of the Fund could decline in value or underperform other investments.

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-U.S. SECURITIES RISK. Non-U.S. securities are subject to higher volatility than securities of domestic issuers due to possible adverse political, social or economic developments; restrictions on foreign investment or exchange of securities; lack of liquidity; currency exchange rates; excessive taxation; government seizure of assets; different legal or accounting standards; and less government supervision and regulation of exchanges in foreign countries.

PASSIVE INVESTMENT RISK. The Fund is not actively managed. The Fund invests in securities included in or representative of its Index regardless of their investment merit. The Fund generally will not attempt to take defensive positions in declining markets. In the event that the Index is no longer calculated, the Index license is terminated or the identity or character of the Index is materially changed, the Fund will seek to engage a replacement index.

PORTFOLIO TURNOVER RISK. The Fund's strategy may frequently involve buying and selling portfolio securities pursuant to its principal investment strategy. High portfolio turnover may result in the Fund paying higher levels of transaction costs and generating greater tax liabilities for shareholders. Portfolio turnover risk may cause the Fund's performance to be less than you expect.

SMALL FUND RISK. The Fund currently has fewer assets than larger funds, and like other smaller funds, large inflows and outflows may impact the Fund's market exposure for limited periods of time. This impact may be positive or negative, depending on the direction of market movement during the period affected.

SMALLER COMPANIES RISK. Small and/or mid capitalization 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.

TRADING ISSUES RISK. Although the shares of the Fund are listed for trading on the Exchange, there can be no assurance that an active trading market for such shares will develop or be maintained. Trading in shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange, make trading in shares inadvisable. In addition, trading in shares on the Exchange is subject to trading halts caused by extraordinary market volatility pursuant to the Exchange's "circuit breaker" rules. Market makers are under no obligation to make a market in the Fund's shares, and authorized participants are not obligated to submit purchase or redemption orders for Creation Units. There can be no assurance that the requirements of the Exchange necessary to maintain the listing of the Fund will continue to be met or will remain unchanged. The Fund may have difficulty maintaining its listing on the Exchange in the event the Fund's assets are small or the Fund does not have enough shareholders.

UTILITIES COMPANIES RISK. The Fund invests in the securities of utilities companies.  General problems of utilities companies include the imposition of rate caps, increased competition due to deregulation, the difficulty in obtaining an adequate return on invested capital or in financing large construction projects, the limitations on operations and increased costs and delays 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. All of such issuers have been experiencing certain of these problems in varying degrees.

Annual Total Return

The bar chart and table below illustrate the annual calendar year returns of the Fund based on net asset value as well as the average annual Fund and Index returns. 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 compared to those of the Fund's previous Index, the Index and a broad-based market index. 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.

On August 30, 2018, the Fund's underlying index changed from the NASDAQ International Multi-Asset Diversified Income IndexSM to the S&P International Dividend Aristocrats Index. Therefore, the Fund's performance and historical returns shown below are not necessarily indicative of the performance that the Fund, based on the Index, would have generated. Returns for an underlying index are only disclosed for those periods in which the index was in existence for the whole period.

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 S&P International Dividend Aristocrats ETF (formerly International Multi-Asset Diversified Income Index Fund)
Calendar Year Total Returns as of 12/31 (1)

Bar Chart
(1)The Fund's calendar year-to-date total return based on net asset value for the period 12/31/17 to 6/30/18 was -4.86%.

During the periods shown in the chart above:

Best Quarter Worst Quarter
7.81% March 31, 2017 -11.70% September 30, 2015

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, 2017

Average Annual Total Returns - First Trust S and P International Dividend Aristocrats ETF
1 Year
Since Inception
Inception Date
First Trust S and P International Dividend Aristocrats ETF 20.94% 3.72% Aug. 22, 2013
First Trust S and P International Dividend Aristocrats ETF | After tax on distributions 18.37% 1.42%  
First Trust S and P International Dividend Aristocrats ETF | After tax on distributions and sale of fund shares 11.78% 1.75%  
NASDAQ International Multi-Asset Diversified Income Index(SM) (reflects no deduction for fees, expenses or taxes) 22.82% 5.37%  
S&P International Dividend Aristocrats Index (reflects no deduction for fees, expenses or taxes) [1],[2]  
MSCI World ex-USA Index (reflects no deduction for fees, expenses or taxes) 24.21% 6.41%  
[1] On August 30, 2018, the Fund's underlying index changed from the NASDAQ International Multi-Asset Diversified Income Index(SM) to the S&P International Dividend Aristocrats Index. Because the Fund's new underlying index had an inception date of April 29, 2018, performance information is not included above.
[2] 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.
XML 12 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName First Trust Exchange-Traded Fund VI
Prospectus Date rr_ProspectusDate Aug. 30, 2018
First Trust S and P International Dividend Aristocrats ETF  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading

Summary Information

Objective [Heading] rr_ObjectiveHeading

Investment Objective

Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The First Trust S&P International Dividend Aristocrats ETF (the "Fund"), formerly the International Multi-Asset Diversified Income Index Fund, seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called the S&P International Dividend Aristocrats Index (the "Index").

Expense [Heading] rr_ExpenseHeading

Fees and Expenses of the Fund

Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

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 Caption [Text] rr_ShareholderFeesCaption

Shareholder Fees
(fees paid directly from your investment)

Operating Expenses Caption [Text] rr_OperatingExpensesCaption

Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading

Portfolio Turnover

Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

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 Fund 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 129% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 129.00%
Expense Example [Heading] rr_ExpenseExampleHeading

Example

Expense Example, No Redemption Narrative [Text Block] rr_ExpenseExampleNoRedemptionNarrativeTextBlock

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. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Strategy [Heading] rr_StrategyHeading

Principal Investment Strategies

Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

Under normal conditions, the Fund will invest at least 90% of its net assets (including investment borrowings) in the equity securities that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Fund's investment advisor 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.

The Index is owned and was developed by S&P Dow Jones Indices, LLC a division of S&P Global ("SPDJI" or the "Index Provider"). The Index measures the performance of high dividend yielding companies that have followed a managed-dividends policy of increasing or maintaining dividends for at least ten consecutive years.

The Index's initial investible universe consists of all the securities comprising the S&P Global Broad Market Index. The S&P Global Broad Market Index is an equity index measuring global stock market performance that includes securities issued by small, mid and large capitalization companies domiciled in both developed and emerging markets. This initial universe is subsequently narrowed by removing securities that do not meet the following eligibility requirements as of the last business day of December of each year (the "Annual Rebalance Reference Date"):

  • Market Capitalization. Securities must have a float-adjusted market capitalization of at least $1 billion.
  • Liquidity. Securities must have an average daily traded value of at least $5 million for the prior three months.
  • Dividend Growth. Securities must have increased dividends or maintained stable dividends every year for at least the prior ten consecutive years.
  • Payout Ratio. Securities must have a maximum 100% dividend payout ratio. The dividend payout ratio is the amount of dividend paid to stockholders relative to the amount of total net income of a company. It is calculated by dividing a security's dividend-per-share amount by its earnings-per-share amount, using data from the prior twelve months.
  • Dividend Yield. Securities must have a maximum 10% indicated dividend yield. A security's indicated dividend yield is calculated by multiplying the amount of its most recent dividend payment by the number of dividend payments per year, and then dividing that number by the company's stock price.

The securities that meet these eligibility requirements are then ranked based upon their indicated dividend yield as of the Annual Rebalance Reference Date. The 100 securities with the highest indicated dividend yield are selected, with the number of securities from each country capped at 20. If the number of securities from a country reaches 20, the highest yielding securities from other countries are selected until the number of Index securities reaches 100. If the eligible highest yielding securities are overly concentrated (beyond 35 securities) in an individual Global Industry Classification Standard ("GICS®") sector, the next highest yielding securities from the sector with less than 35 securities are selected until the count reaches 100. From these 100 securities, all U.S. securities are removed from the universe. Based on the country caps on the number of securities (20), excluding U.S. securities, the portfolio will generally consist of 80-100 securities. The Index seeks to be composed of at least 80 constituent securities. If the number of eligible constituent securities is fewer than 80 at the time of the annual rebalancing, then the minimum float-adjusted market capitalization requirement is lowered from $1 billion to $500 million and the requirement that a constituent security have increased or maintained stable dividends every year for at least the prior ten consecutive years is reduced so that a security may be eligible if it has increased or maintained stable dividends every year for the prior seven consecutive years.

In order to achieve a relatively high dividend yield, the Index constituents are weighted by indicated annual dividend yield. At each rebalancing, the weight for each Index constituent is capped at 3%, and the weight of each country and GICS® sector is capped at 25%, respectively.

The Index is rebalanced and reconstituted annually, effective after the close of business on the last trading date of January. The inception date of the Index was April 29, 2018. The Fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated. As of August 1, 2018, the Index had significant exposure to financial companies and utilities companies.

Risk [Heading] rr_RiskHeading

Principal Risks

Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

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.

AUTHORIZED PARTICIPANT CONCENTRATION RISK. Only an authorized participant (as defined in the "Frequent Purchases and Redemptions" Section) may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of institutions that act as authorized participants. To the extent that these institutions exit the business or are unable to proceed with creation and/or redemption orders with respect to the Fund and no other authorized participant is able to step forward to create or redeem, in either of these cases, Fund shares may trade at a discount to the Fund's net asset value and possibly face delisting.

CONCENTRATION RISK. To the extent that the Fund invests a large percentage of its assets in a single asset class or the securities of issuers within the same country, state, region, industry or sector, an adverse economic, business or political development may affect the value of the Fund's investments more than if the Fund were more broadly diversified. A concentration makes the Fund more susceptible to any single occurrence and may subject the Fund to greater market risk than a fund that is not so concentrated.

CURRENCY RISK. An investment in non-U.S. securities involves further risk due to currency exchange rates. Changes in currency exchange rates may affect the Fund's net asset value, the value of dividends and interest earned, and gains and losses realized on the sale of securities. An increase in the strength of the U.S. dollar relative to other currencies may cause the value of the Fund to decline. Certain non-U.S. currencies may be particularly volatile, and non-U.S. governments may intervene in the currency markets, causing a decline in value or liquidity in the Fund's non-U.S. holdings whose value is tied to the affected non-U.S. currency.

CYBER SECURITY RISK. As the use of Internet technology has become more prevalent in the course of business, the Fund has become more susceptible to potential operational risks through breaches in cyber security. A breach in cyber security refers to both intentional and unintentional events that may cause the Fund to lose proprietary information, suffer data corruption or lose operational capacity. Such events could cause the Fund to incur regulatory penalties, reputational damage, additional compliance costs associated with corrective measures and/or financial loss. Cyber security breaches may involve unauthorized access to the Fund's digital information systems through "hacking" or malicious software coding, but may also result from outside attacks such as denial-of-service attacks through efforts to make network services unavailable to intended users. In addition, cyber security breaches of the Fund's third party service providers, such as its administrator, transfer agent, custodian,  or sub advisor, as applicable, or issuers in which the Fund invests, can also subject the Fund to many of the same risks associated with direct cyber security breaches. The Fund has established risk management systems designed to reduce the risks associated with cyber security. However, there is no guarantee that such efforts will succeed, especially because the Fund does not directly control the cyber security systems of issuers or third party service providers.

DEPOSITARY RECEIPTS RISK. Depositary receipts may be less liquid than the underlying shares in their primary trading market. Any distributions paid to the holders of depositary receipts are usually subject to a fee charged by the depositary. Holders of depositary receipts may have limited voting rights, and investment restrictions in certain countries may adversely impact the value of depositary receipts because such restrictions may limit the ability to convert the equity shares into depositary receipts and vice versa. Such restrictions may cause the equity shares of the underlying issuer to trade at a discount or premium to the market price of the depositary receipts.

DIVIDEND RISK. There is no guarantee that the issuers of the Fund's portfolio securities will declare dividends in the future or that, if declared, they will either remain at current levels or increase over time.

EMERGING MARKETS RISK. Investments in securities and instruments traded in developing or emerging markets or that provide exposure to such securities or markets, can involve additional risks relating to political, economic, or regulatory conditions not associated with investments in U.S. securities and instruments or investments in more developed international markets. Emerging market governments may, without prior warning, impose capital controls on the ability to transfer currency, securities or other assets. The Fund's ability to access certain developing or emerging markets also may be limited due to a variety of factors, including currency convertibility issues. Such conditions may impact the ability of the Fund to buy, sell or otherwise transfer securities, cause the Fund's returns to differ from those available to domestic investors, adversely affect the trading market and price for Fund shares, and cause the Fund to decline in value. Investments in securities of issuers located in emerging market countries are considered speculative. Heightened risks of investing in emerging markets securities include: (i) smaller market capitalization of securities markets, which may suffer periods of relative illiquidity; (ii) significant price volatility; (iii) restrictions on foreign investment; and (iv) possible repatriation of investment income and capital. Furthermore, non-U.S. investors may be required to register the proceeds of sales and future economic or political crises could lead to price controls, forced mergers, expropriation or confiscatory taxation, seizure, nationalization or creation of government monopolies.

EQUITY SECURITIES RISK. Because the Fund invests in equity securities, the value of the Fund's shares will fluctuate with changes in the value of these equity securities. Equity securities prices fluctuate for several reasons, including changes in investors' perceptions of the financial condition of an issuer or the general condition of the relevant stock market, such as market volatility, or when political or economic events affecting the issuers occur. In addition, common stock prices may be particularly sensitive to rising interest rates, as the cost of capital rises and borrowing costs increase.

FINANCIAL COMPANIES RISK. Financial companies are especially subject to the adverse effects of economic recession, currency exchange rates, government regulation, decreases in the availability of capital, volatile interest rates, portfolio concentrations in geographic markets and in commercial and residential real estate loans, and competition from new entrants in their fields of business.

FLUCTUATION OF NET ASSET VALUE RISK. The net asset value of shares of the Fund will generally fluctuate with changes in the market value of the Fund's holdings. The market prices of shares will generally fluctuate in accordance with changes in net asset value as well as the relative supply of and demand for shares on the Exchange. The Fund's investment advisor cannot predict whether shares will trade below, at or above their net asset value because the shares trade on the Exchange at market prices and not at net asset value. Price differences may be due, in large part, to the fact that supply and demand forces at work in the secondary trading market for shares will be closely related to, but not identical to, the same forces influencing the prices of the holdings of the Fund trading individually or in the aggregate at any point in time. However, given that shares can only be purchased and redeemed either in-kind or for cash in Creation Units, and only to and from broker-dealers and large institutional investors that have entered into participation agreements (unlike shares of closed-end funds, which frequently trade at appreciable discounts from, and sometimes at premiums to, their net asset value), the Fund's investment advisor believes that large discounts or premiums to the net asset value of shares should not be sustained.

MARKET MAKER RISK. If the Fund has lower average daily trading volumes, it may rely on a small number of third-party market makers to provide a market for the purchase and sale of shares. Any trading halt or other problem relating to the trading activity of these market makers could result in a dramatic change in the spread between the Fund's net asset value and the price at which the Fund's shares are trading on the Exchange, which could result in a decrease in value of the Fund's shares. In addition, decisions by market makers or authorized participants to reduce their role or step away from these activities in times of market stress could inhibit the effectiveness of the arbitrage process in maintaining the relationship between the underlying values of the Fund's portfolio securities and the Fund's market price. This reduced effectiveness could result in Fund shares trading at a discount to net asset value and also in greater than normal intraday bid-ask spreads for Fund shares.

MARKET RISK. Market risk is the risk that a particular security owned by the Fund or shares of the Fund in general 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 securities prices. Shares of the Fund could decline in value or underperform other investments.

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-U.S. SECURITIES RISK. Non-U.S. securities are subject to higher volatility than securities of domestic issuers due to possible adverse political, social or economic developments; restrictions on foreign investment or exchange of securities; lack of liquidity; currency exchange rates; excessive taxation; government seizure of assets; different legal or accounting standards; and less government supervision and regulation of exchanges in foreign countries.

PASSIVE INVESTMENT RISK. The Fund is not actively managed. The Fund invests in securities included in or representative of its Index regardless of their investment merit. The Fund generally will not attempt to take defensive positions in declining markets. In the event that the Index is no longer calculated, the Index license is terminated or the identity or character of the Index is materially changed, the Fund will seek to engage a replacement index.

PORTFOLIO TURNOVER RISK. The Fund's strategy may frequently involve buying and selling portfolio securities pursuant to its principal investment strategy. High portfolio turnover may result in the Fund paying higher levels of transaction costs and generating greater tax liabilities for shareholders. Portfolio turnover risk may cause the Fund's performance to be less than you expect.

SMALL FUND RISK. The Fund currently has fewer assets than larger funds, and like other smaller funds, large inflows and outflows may impact the Fund's market exposure for limited periods of time. This impact may be positive or negative, depending on the direction of market movement during the period affected.

SMALLER COMPANIES RISK. Small and/or mid capitalization 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.

TRADING ISSUES RISK. Although the shares of the Fund are listed for trading on the Exchange, there can be no assurance that an active trading market for such shares will develop or be maintained. Trading in shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange, make trading in shares inadvisable. In addition, trading in shares on the Exchange is subject to trading halts caused by extraordinary market volatility pursuant to the Exchange's "circuit breaker" rules. Market makers are under no obligation to make a market in the Fund's shares, and authorized participants are not obligated to submit purchase or redemption orders for Creation Units. There can be no assurance that the requirements of the Exchange necessary to maintain the listing of the Fund will continue to be met or will remain unchanged. The Fund may have difficulty maintaining its listing on the Exchange in the event the Fund's assets are small or the Fund does not have enough shareholders.

UTILITIES COMPANIES RISK. The Fund invests in the securities of utilities companies.  General problems of utilities companies include the imposition of rate caps, increased competition due to deregulation, the difficulty in obtaining an adequate return on invested capital or in financing large construction projects, the limitations on operations and increased costs and delays 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. All of such issuers have been experiencing certain of these problems in varying degrees.

Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

Annual Total Return

Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The bar chart and table below illustrate the annual calendar year returns of the Fund based on net asset value as well as the average annual Fund and Index returns. 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 compared to those of the Fund's previous Index, the Index and a broad-based market index. 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.

On August 30, 2018, the Fund's underlying index changed from the NASDAQ International Multi-Asset Diversified Income IndexSM to the S&P International Dividend Aristocrats Index. Therefore, the Fund's performance and historical returns shown below are not necessarily indicative of the performance that the Fund, based on the Index, would have generated. Returns for an underlying index are only disclosed for those periods in which the index was in existence for the whole period.

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.

Bar Chart [Heading] rr_BarChartHeading

First Trust S&P International Dividend Aristocrats ETF (formerly International Multi-Asset Diversified Income Index Fund)
Calendar Year Total Returns as of 12/31 (1)

Bar Chart Footnotes [Text Block] rr_BarChartFootnotesTextBlock (1)The Fund's calendar year-to-date total return based on net asset value for the period 12/31/17 to 6/30/18 was -4.86%.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

During the periods shown in the chart above:

Best Quarter Worst Quarter
7.81% March 31, 2017 -11.70% September 30, 2015

The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.

Performance Table Heading rr_PerformanceTableHeading

Average Annual Total Returns for the Periods Ended December 31, 2017

First Trust S and P International Dividend Aristocrats ETF | First Trust S and P International Dividend Aristocrats ETF  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Management Fees rr_ManagementFeesOverAssets 0.60%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets none
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.60%
1 Year rr_ExpenseExampleNoRedemptionYear01 $ 61
3 Years rr_ExpenseExampleNoRedemptionYear03 246
5 Years rr_ExpenseExampleNoRedemptionYear05 447
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,026
2014 rr_AnnualReturn2014 (0.23%)
2015 rr_AnnualReturn2015 (13.02%)
2016 rr_AnnualReturn2016 6.34%
2017 rr_AnnualReturn2017 20.94%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2017
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 7.81%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2015
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (11.70%)
1 Year rr_AverageAnnualReturnYear01 20.94%
Since Inception rr_AverageAnnualReturnSinceInception 3.72%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 22, 2013
First Trust S and P International Dividend Aristocrats ETF | After tax on distributions | First Trust S and P International Dividend Aristocrats ETF  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 18.37%
Since Inception rr_AverageAnnualReturnSinceInception 1.42%
First Trust S and P International Dividend Aristocrats ETF | After tax on distributions and sale of fund shares | First Trust S and P International Dividend Aristocrats ETF  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 11.78%
Since Inception rr_AverageAnnualReturnSinceInception 1.75%
First Trust S and P International Dividend Aristocrats ETF | NASDAQ International Multi-Asset Diversified Income Index(SM) (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 22.82%
Since Inception rr_AverageAnnualReturnSinceInception 5.37%
First Trust S and P International Dividend Aristocrats ETF | S&P International Dividend Aristocrats Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 [1],[2]
Since Inception rr_AverageAnnualReturnSinceInception [1],[2]
First Trust S and P International Dividend Aristocrats ETF | MSCI World ex-USA Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 24.21%
Since Inception rr_AverageAnnualReturnSinceInception 6.41%
[1] On August 30, 2018, the Fund's underlying index changed from the NASDAQ International Multi-Asset Diversified Income Index(SM) to the S&P International Dividend Aristocrats Index. Because the Fund's new underlying index had an inception date of April 29, 2018, performance information is not included above.
[2] 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.
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