N-CSR 1 etf6_ncsr.htm ANNUAL REPORT TO SHAREHOLDERS

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-22717

First Trust Exchange-Traded Fund VI
(Exact name of registrant as specified in charter)

 

120 East Liberty Drive, Suite 400
Wheaton, IL 60187
(Address of principal executive offices)

 

W. Scott Jardine, Esq.
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
(Name and address of agent for service)

 

Registrant’s telephone number, including area code: (630) 765-8000

Date of fiscal year end: March 31

Date of reporting period: March 31, 2023

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 
 

Item 1. Report to Stockholders.

(a)The registrant’s annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:

 

First Trust Exchange-Traded Fund VI

First Trust Nasdaq Bank ETF (FTXO)

First Trust Nasdaq Food & Beverage ETF (FTXG)

First Trust Nasdaq Oil & Gas ETF (FTXN)

First Trust Nasdaq Pharmaceuticals ETF (FTXH)

First Trust S-Network E-Commerce ETF (ISHP)

First Trust Nasdaq Semiconductor ETF (FTXL)

First Trust Nasdaq Transportation ETF (FTXR)

First Trust S-Network Streaming & Gaming ETF (BNGE)

Annual Report
For the Year Ended
March 31, 2023
Table of Contents
First Trust Exchange-Traded Fund VI
Annual Report
March 31, 2023

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Fund Performance Overview

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Portfolio of Investments

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Caution Regarding Forward-Looking Statements
This report contains certain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the goals, beliefs, plans or current expectations of First Trust Advisors L.P. (“First Trust” or the “Advisor”) and its representatives, taking into account the information currently available to them. Forward-looking statements include all statements that do not relate solely to current or historical fact. For example, forward-looking statements include the use of words such as “anticipate,” “estimate,” “intend,” “expect,” “believe,” “plan,” “may,” “should,” “would” or other words that convey uncertainty of future events or outcomes.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of any series of First Trust Exchange-Traded Fund VI (the “Trust”) described in this report (each such series is referred to as a “Fund” and collectively, the “Funds”) to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. When evaluating the information included in this report, you are cautioned not to place undue reliance on these forward-looking statements, which reflect the judgment of the Advisor and its representatives only as of the date hereof. We undertake no obligation to publicly revise or update these forward-looking statements to reflect events and circumstances that arise after the date hereof.
Performance and Risk Disclosure
There is no assurance that any Fund described in this report will achieve its investment objective. Each Fund is subject to market risk, which is the possibility that the market values of securities owned by the Fund will decline and that the value of the Fund’s shares may therefore be less than what you paid for them. Accordingly, you can lose money by investing in a Fund. See “Risk Considerations” in the Additional Information section of this report for a discussion of certain other risks of investing in the Funds.
Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. For the most recent month-end performance figures, please visit www.ftportfolios.com or speak with your financial advisor. Investment returns, net asset value and share price will fluctuate and Fund shares, when sold, may be worth more or less than their original cost.
The Advisor may also periodically provide additional information on Fund performance on each Fund’s web page at www.ftportfolios.com.
How to Read This Report
This report contains information that may help you evaluate your investment. It includes details about each Fund and presents data and analysis that provide insight into each Fund’s performance and investment approach.
By reading the market overview by Robert F. Carey, Chief Market Strategist of the Advisor, you may obtain an understanding of how the market environment affected the performance of each Fund. The statistical information that follows may help you understand each Fund’s performance compared to that of relevant market benchmarks.
It is important to keep in mind that the opinions expressed by personnel of the Advisor are just that: informed opinions. They should not be considered to be promises or advice. The opinions, like the statistics, cover the period through the date on the cover of this report. The material risks of investing in each Fund are spelled out in the prospectus, the statement of additional information, and other Fund regulatory filings.
Page 1

Shareholder Letter
First Trust Exchange-Traded Fund VI
Annual Letter from the Chairman and CEO
March 31, 2023
Dear Shareholders,
First Trust is pleased to provide you with the annual report for certain series of the First Trust Exchange-Traded Fund VI (the “Funds”), which contains detailed information about the Funds for the twelve months ended March 31, 2023.
I am constantly amazed by the depth and breadth of innovation that occurs when people from different geographic, economic, cultural, and educational backgrounds come together to solve problems. Many of the greatest companies to ever exist found their humble beginnings in the simple premise that problems are best solved through ingenuity and cooperation. That idea is still alive and well today, in my opinion. Take, as examples, the recent flood of interest sparked by artificial intelligence programs, advances in robotics, new medicines, more fuel-efficient gasoline engines, electric and hybrid vehicles, quantum computing, developments in wind and solar power; the list goes on and on. That said, the global economy is facing serious issues such as stubborn inflation and the specter of slowing economic growth to name a few.
As many investors know, the global financial system is currently navigating the fallout of the banking crisis that took lending markets by storm in March 2023. The turmoil that started in the U.S. with the failure of Silicon Valley Bank quickly spread around the globe, leading the Swiss government to broker the merger of two of Switzerland’s largest banks. In the U.S., the Federal Reserve (the “Fed”) created the Bank Term Funding Program, which allocated capital to help assure that banks can meet the needs of their depositors. Furthermore, inflation remains elevated on a global scale. Each of the countries that comprise the so-called Group of Ten is currently battling levels of inflation that are higher than the targets set by their central banks, according to data from Bloomberg. Additionally, political unrest stemming from the war between Russia and Ukraine remains a significant factor, with the potential to disturb global fuel and energy supplies as well as provoke interference from other foreign powers.
In the U.S., inflation, as measured by the trailing 12-month rate on the Consumer Price Index, stood at 5.0% as of March 31, 2023, well above the Fed’s stated goal of 2.0%. Despite signals pointing to a potential slowdown in economic growth in the U.S., the Fed stayed the course with regards to interest rate policy. Since February 28, 2022, the Fed raised the Federal Funds target rate (upper bound) a total of nine times, increasing the rate from 0.25%, where it stood on February 28, 2022, to 5.00% as of March 31, 2023.
Global markets have been resilient over time, and the S&P 500® Index has never failed to recover from a bear market. While the issues plaguing the U.S. and global economies are severe, they are not insurmountable, in my view. As Brian Wesbury, Chief Economist at First Trust, recently wrote: “what made America strong is…its human resources and freedom.” We will continue to work the problems before us with ingenuity and resolve, as we always have.
Thank you for giving First Trust the opportunity to play a role in your financial future. We value our relationship with you and will report on the Funds again in six months.
Sincerely,
James A. Bowen
Chairman of the Board of Trustees
Chief Executive Officer of First Trust Advisors L.P.
Page 2

Market Overview
First Trust Exchange-Traded Fund VI
Annual Report
March 31, 2023
Robert F. Carey, CFA
Senior Vice President and Chief Market Strategist
First Trust Advisors L.P.
Mr. Carey is responsible for the overall management of research and analysis of the First Trust product line. Mr. Carey has more than 30 years of experience as an Equity and Fixed-Income Analyst and is a recipient of the Chartered Financial Analyst (“CFA”) designation. He is a graduate of the University of Illinois at Champaign-Urbana with a B.S. in Physics. He is also a member of the Investment Analysts Society of Chicago and the CFA Institute. Mr. Carey has appeared as a guest on such programs as Bloomberg TV, CNBC, and WBBM Radio, and has been quoted by several publications, including The Wall Street Journal, The Wall Street Reporter, Bloomberg News Service, and Registered Rep.
State of the Global Economy
The latest global growth forecast from the International Monetary Fund (“IMF”) released in April 2023 sees real gross domestic product growth rising by 2.8% worldwide in 2023, down from its 2.9% projection in January 2023. The IMF is calling for a 1.6% growth rate for the U.S., up from its January 2023 estimate of 1.4%. Emerging Market and Developing Economies are expected to grow by 3.9% this year, down from the IMF’s 4.0% estimate in January 2023. The IMF notes that risks to their global outlook are squarely to the downside, especially given the recent turmoil in the Financials sector as well as stubbornly high inflation.
In the U.S., inflation, as measured by the Consumer Price Index (“CPI”), stood at 5.0% on a trailing 12-month basis at the end of March 2023, according to the U.S. Bureau of Labor Statistics. While this is significantly lower than the most recent high of 9.1% in June 2022, the CPI remains above its 30-year average of 2.5% as of March 31, 2023, and even further from the Federal Reserve’s (the “Fed”) target of 2.0%.
Performance of Global Stocks and Bonds
The major U.S. stock indices delivered negative results over the past 12 months. The S&P 500® (the “Index”), S&P MidCap 400® and S&P SmallCap 600® Indices posted total returns of -7.73%, -5.12% and -8.82%, respectively, for the 12-month period ended March 31, 2023. Three of the 11 major sectors that comprise the Index were positive on a total return basis. The top performer was the Energy sector, up 13.63%, while the worst showing came from the Real Estate sector, down 19.75%.
A Bloomberg survey of twenty-four equity strategists found that their average 2023 year-end price target for the Index was 4,025, as of April 19, 2023, according to its own release. The highest and lowest estimates were 4,750 and 3,225, respectively. Brian Wesbury, Chief Economist at First Trust, announced in December 2022 that his 2023 year-end price target stood at 3,900. The Index closed trading on March 31, 2023 at 4,109. The outlook for corporate earnings in 2023 has turned negative. Bloomberg’s consensus year-over-year earnings growth rate estimates for the Index for the 2023 and 2024 calendar years stood at -2.67% and 11.56%, respectively, as of April 21, 2023.
The broader foreign stock indices experienced negative total returns over the past year. For the 12-months ended March 31, 2023, the MSCI World ex USA and MSCI Emerging Markets equity indices posted total returns of -2.74% (USD) and -10.70% (USD), respectively, according to Bloomberg. The major foreign bond indices were also down during the same period. The Bloomberg Global Aggregate Index of higher quality debt posted a total return of -8.07% (USD), while the Bloomberg EM Hard Currency Aggregate Index of emerging markets debt fell by 5.41% (USD), according to Bloomberg. The U.S. Dollar rose 4.27% over the past 12 months against a basket of major currencies, as measured by the U.S. Dollar Index (DXY). The increase in the U.S. Dollar provided a drag on the performance of both foreign stock and bond indices, in our opinion.
In the U.S. bond market, the results were also disappointing. The top performing major debt group we track was intermediate corporate bonds. The Bloomberg Intermediate Corporate Index posted a total return of -1.99% for the 12-month period ended March 31, 2023. The worst-performing U.S. debt group that we track was U.S. aggregate bonds. The Bloomberg U.S. Aggregate Bond Index posted a total return of -4.78%. The yield on the benchmark 10-Year Treasury Note (“T-Note”) fell by 113 basis points in the period to close at 3.47% on March 31, 2023, according to Bloomberg. For comparative purposes, the average yield on the 10-Year T-Note was 2.19% for the 10-year period ended March 31, 2023.
Page 3

Fund Performance Overview (Unaudited)
First Trust Nasdaq Bank ETF (FTXO)
The First Trust Nasdaq Bank ETF (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 Nasdaq US Smart BanksTM Index (the “Index”). The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “FTXO.” The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index. The Index is owned and is developed, maintained and sponsored by Nasdaq, Inc. (the “Index Provider”).
The Index is designed to provide exposure to U.S. companies comprising the banking sector that have been selected based upon their liquidity and weighted based upon their cumulative score on four investing factors: net income, return on assets, momentum and book value. The Index’s initial selection universe consists of the component securities of the Nasdaq US BenchmarkTM Index that have been classified as comprising the banking sector according to the Industry Classification Benchmark. The Nasdaq US BenchmarkTM Index is an index seeking to track the performance of small, mid and large capitalization U.S. companies. This classification includes companies providing a broad range of financial services, including retail banking, loans and money transmissions.
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
3/31/23
5 Years
Ended
3/31/23
Inception
(9/20/16)
to 3/31/23
  5 Years
Ended
3/31/23
Inception
(9/20/16)
to 3/31/23
Fund Performance            
NAV -30.94% -3.62% 3.43%   -16.85% 24.58%
Market Price -31.05% -3.66% 3.41%   -17.01% 24.46%
Index Performance            
Nasdaq US Smart BanksTM Index -30.60% -3.01% 4.10%   -14.18% 29.98%
Nasdaq US Benchmark Banks Index -22.33% 0.08% 6.72%   0.42% 52.85%
Nasdaq US BenchmarkTM Index -8.97% 10.44% 12.01%   64.29% 109.61%
(See Notes to Fund Performance Overview on page 20.)
Performance Review
The Fund generated a net asset value (“NAV”) return of -30.94% during the period covered by this report. During the same period, the Nasdaq US Benchmark Banks Index (the “Benchmark”) generated a return of -22.33%. The Banks industry carried the majority of the weight in the Fund as well as in the Benchmark. This industry had a weight of 90.9% in the Fund during the period covered by this report. The Banks Industry contributed -27.3% to the Fund’s total return, which was the most negative of any industry. No industry contributed positively to the Fund’s total return.

Nasdaq® and Nasdaq US Smart BanksTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
Page 4

Fund Performance Overview (Unaudited) (Continued)
First Trust Nasdaq Bank ETF (FTXO) (Continued)
Sector Allocation % of Total
Investments
Financials 100.0%
Total 100.0%
Top Ten Holdings % of Total
Investments
Citigroup, Inc. 9.3%
JPMorgan Chase & Co. 9.1
Bank of America Corp. 8.3
Wells Fargo & Co. 8.0
Truist Financial Corp. 7.3
PNC Financial Services Group (The), Inc. 4.0
M&T Bank Corp. 3.9
US Bancorp 3.8
Fifth Third Bancorp 3.7
Citizens Financial Group, Inc. 3.6
Total 61.0%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 5

Fund Performance Overview (Unaudited) (Continued)
First Trust Nasdaq Food & Beverage ETF (FTXG)
The First Trust Nasdaq Food & Beverage ETF (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 Nasdaq US Smart Food & BeverageTM Index (the “Index”). The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “FTXG.” The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index. The Index is owned and is developed, maintained and sponsored by Nasdaq, Inc. (the “Index Provider”).
The Index is designed to provide exposure to U.S. companies comprising the food and beverage sector that have been selected based upon their liquidity and weighted based upon their cumulative score on four investing factors: gross income, return on assets, momentum and cash flow. The Index’s initial selection universe consists of the component securities of the Nasdaq US BenchmarkTM Index that have been classified as comprising either the beverages sector or food producers sector according to the Industry Classification Benchmark (“ICB”). The Nasdaq US BenchmarkTM Index is an index seeking to track the performance of small, mid and large capitalization U.S. companies. These classifications include: (i) manufacturers and shippers of cider or malt products; (ii) producers, distillers, vintners, blenders and shippers of wine and spirits; (iii) manufacturers, bottlers and distributors of non-alcoholic beverages; (iv) companies that grow crops or raise livestock, operate fisheries or own non-tobacco plantations; (v) food producers, including meatpacking, snacks, fruits, vegetables, dairy products and frozen seafood; (vi) producers of pet food; and (vii) manufacturers of dietary supplements, vitamins and related items.
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
3/31/23
5 Years
Ended
3/31/23
Inception
(9/20/16)
to 3/31/23
  5 Years
Ended
3/31/23
Inception
(9/20/16)
to 3/31/23
Fund Performance            
NAV 1.10% 8.00% 6.21%   46.92% 48.15%
Market Price 0.87% 7.95% 6.19%   46.58% 48.03%
Index Performance            
Nasdaq US Smart Food & BeverageTM Index 1.70% 8.69% 6.89%   51.70% 54.44%
Nasdaq US Benchmark Food, Beverage and Tobacco Index 5.17% 10.29% 8.54%   63.18% 70.73%
Nasdaq US BenchmarkTM Index -8.97% 10.44% 12.01%   64.29% 109.61%
(See Notes to Fund Performance Overview on page 20.)
Performance Review
The Fund generated a NAV return of 1.10% during the period covered by this report. During the same period, the Nasdaq US Benchmark Food, Beverage and Tobacco Index (the “Benchmark”) generated a return of 5.17%. During the same period, the Fund was most heavily weighted toward investments in the Food Products GICS sub-industry, which had an average weight of 69.2%. The Beverages sub-industry, however, contributed the most toward the Fund’s return during the period, with a 1.5% contribution. The Personal Care products sub-industry, which had a relatively low weighting of 0.8% during the period, was the only negative contributor to the Fund’s return, generating -0.3%.

Nasdaq® and Nasdaq US Smart Food & BeverageTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
Page 6

Fund Performance Overview (Unaudited) (Continued)
First Trust Nasdaq Food & Beverage ETF (FTXG) (Continued)
Sector Allocation % of Total
Investments
Consumer Staples 96.3%
Materials 3.7
Total 100.0%
Top Ten Holdings % of Total
Investments
General Mills, Inc. 8.3%
Mondelez International, Inc., Class A 8.2
PepsiCo, Inc. 8.1
Coca-Cola (The) Co. 8.0
Archer-Daniels-Midland Co. 7.7
Hershey (The) Co. 4.1
J.M. Smucker (The) Co. 4.1
Campbell Soup Co. 4.0
Conagra Brands, Inc. 4.0
Keurig Dr. Pepper, Inc. 3.9
Total 60.4%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 7

Fund Performance Overview (Unaudited) (Continued)
First Trust Nasdaq Oil & Gas ETF (FTXN)
The First Trust Nasdaq Oil & Gas ETF (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 Nasdaq US Smart Oil & GasTM Index (the “Index”). The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “FTXN.” The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index. The Index is owned and is developed, maintained and sponsored by Nasdaq, Inc. (the “Index Provider”).
The Index is designed to provide exposure to U.S. companies comprising the oil and gas sector that have been selected based upon their liquidity and weighted based upon their cumulative score on four investing factors: gross income, return on assets, momentum and cash flow. The Index’s initial selection universe consists of the component securities of the Nasdaq US BenchmarkTM Index that have been classified as comprising either the oil & gas producers sector or the oil equipment, services & distribution sector according to the Industry Classification Benchmark (“ICB”). The Nasdaq US BenchmarkTM Index is an index seeking to track the performance of small, mid and large capitalization U.S. companies. These classifications include: (i) companies engaged in the exploration for and drilling, production, refining and supply of oil and gas products; (ii) integrated oil and gas companies engaged in the exploration for, and drilling, production, refining, distribution and retail sales of, oil and gas products; (iii) suppliers of equipment and services to oil fields and offshore platforms, such as drilling, exploration, seismic-information services and platform construction; and (iv) operators of pipelines carrying oil, gas or other forms of fuel.
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
3/31/23
5 Years
Ended
3/31/23
Inception
(9/20/16)
to 3/31/23
  5 Years
Ended
3/31/23
Inception
(9/20/16)
to 3/31/23
Fund Performance            
NAV 4.66% 8.40% 6.89%   49.66% 54.46%
Market Price 4.62% 8.37% 6.88%   49.46% 54.41%
Index Performance            
Nasdaq US Smart Oil & GasTM Index 5.14% 9.08% 7.57%   54.39% 60.97%
Nasdaq US Benchmark Energy Index 11.05% 8.91% 7.63%   53.25% 61.62%
Nasdaq US BenchmarkTM Index -8.97% 10.44% 12.01%   64.29% 109.61%
(See Notes to Fund Performance Overview on page 20.)
Performance Review
The Fund generated a NAV return of 4.66% during the period covered by this report. During the same period, the Nasdaq US Benchmark Energy Index (the “Benchmark”) generated a return of 11.05%. The Oil, Gas & Consumable Fuels industry received a 97.2% allocation in the Fund during the same period and provided the largest contribution to the Fund’s return at 5.4%. No industry had a negative contribution to the Fund’s return during the period.

Nasdaq® and Nasdaq US Smart Oil & GasTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
Page 8

Fund Performance Overview (Unaudited) (Continued)
First Trust Nasdaq Oil & Gas ETF (FTXN) (Continued)
Sector Allocation % of Total
Investments
Energy 100.0%
Total 100.0%
Top Ten Holdings % of Total
Investments
Chevron Corp. 8.0%
Exxon Mobil Corp. 7.9
ConocoPhillips 7.6
Occidental Petroleum Corp. 7.5
Marathon Petroleum Corp. 7.5
Valero Energy Corp. 4.2
Pioneer Natural Resources Co. 4.0
EOG Resources, Inc. 4.0
Cheniere Energy, Inc. 4.0
Phillips 66 3.9
Total 58.6%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 9

Fund Performance Overview (Unaudited) (Continued)
First Trust Nasdaq Pharmaceuticals ETF (FTXH)
The First Trust Nasdaq Pharmaceuticals ETF (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 Nasdaq US Smart PharmaceuticalsTM Index (the “Index”). The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “FTXH.” The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index. The Index is owned and is developed, maintained and sponsored by Nasdaq, Inc. (the “Index Provider”).
The Index is designed to provide exposure to U.S. companies comprising the pharmaceutical sector that have been selected based upon their liquidity and weighted based upon their cumulative score on four investing factors: gross income, return on assets, momentum and cash flow. The Index’s initial selection universe consists of the component securities of the Nasdaq US BenchmarkTM Index that have been classified as comprising the pharmaceuticals and biotechnology sub-sectors according to the Industry Classification Benchmark. The Nasdaq US BenchmarkTM Index is an index seeking to track the performance of small, mid and large capitalization U.S. companies. This classification includes vaccine producers and manufacturers of prescription or over-the-counter drugs.
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
3/31/23
5 Years
Ended
3/31/23
Inception
(9/20/16)
to 3/31/23
  5 Years
Ended
3/31/23
Inception
(9/20/16)
to 3/31/23
Fund Performance            
NAV -0.61% 5.31% 5.29%   29.50% 40.02%
Market Price -0.46% 5.29% 5.29%   29.39% 39.96%
Index Performance            
Nasdaq US Smart PharmaceuticalsTM Index 0.07% 5.99% 5.99%   33.79% 46.17%
Nasdaq US Benchmark Pharmaceuticals Index 2.49% 12.74% 11.66%   82.17% 105.42%
Nasdaq US BenchmarkTM Index -8.97% 10.44% 12.01%   64.29% 109.61%
(See Notes to Fund Performance Overview on page 20.)
Performance Review
The Fund generated a NAV return of -0.61% during the period covered by this report. During the same period, the Nasdaq US Benchmark Pharmaceuticals Index (the “Benchmark”) generated a return of 2.49%. During the same period, the Fund was most heavily weighted toward investments in the Pharmaceuticals and Biotechnology industries, with an average portfolio weight of 51.3% and 43.9%, respectively. The Biotechnology industry was a relative outperformer for the period covered by this report, contributing 4.5% to the Fund’s return, which was the largest contribution. The largest negative contribution to the Fund’s return was from the Pharmaceuticals industry at -4.8%.

Nasdaq® and Nasdaq US Smart PharmaceuticalsTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
Page 10

Fund Performance Overview (Unaudited) (Continued)
First Trust Nasdaq Pharmaceuticals ETF (FTXH) (Continued)
Sector Allocation % of Total
Investments
Health Care 100.0%
Total 100.0%
Top Ten Holdings % of Total
Investments
AbbVie, Inc. 7.4%
Johnson & Johnson 7.2
Pfizer, Inc. 7.2
Bristol-Myers Squibb Co. 7.2
Merck & Co., Inc. 7.2
Moderna, Inc. 4.0
Eli Lilly & Co. 3.9
Vertex Pharmaceuticals, Inc. 3.9
Regeneron Pharmaceuticals, Inc. 3.9
Amgen, Inc. 3.7
Total 55.6%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 11

Fund Performance Overview (Unaudited) (Continued)
First Trust S-Network E-Commerce ETF (ISHP)
The First Trust S-Network E-Commerce ETF (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 S-Network Global E-Commerce IndexTM (the “Index”). The Fund lists and principally trades its shares on The Nasdaq Stock Market LLC under the symbol “ISHP.” The Fund will normally invest at least 90% of its net assets (plus any borrowings for investment purposes) in the common stocks and depository receipts that comprise the Index.
The Index seeks to provide exposure to companies with securities listed on recognized global securities exchanges that are principally engaged in the global e-commerce industry. According to VettaFi LLC, to be eligible for inclusion in the Index, a security must be issued by a company engaged in at least one of the four following business segments comprising the global e-commerce industry: (1) content navigation; (2) online retail; (3) online marketplace; and (4) e-commerce infrastructure. The Index is owned and is developed, maintained and sponsored by VettaFi LLC.
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
3/31/23
5 Years
Ended
3/31/23
Inception
(9/20/16)
to 3/31/23
  5 Years
Ended
3/31/23
Inception
(9/20/16)
to 3/31/23
Fund Performance            
NAV -13.57% 5.87% 5.58%   30.01% 42.52%
Market Price -15.24% 5.42% 5.24%   30.20% 39.58%
Index Performance            
S-Network Global E-Commerce IndexTM(1)(2) -13.91% N/A N/A   N/A N/A
MSCI ACWI Index(3) -7.44% 6.94% 9.05%   39.88% 75.97%
Nasdaq US Smart Retail Index -7.15% 9.91% 8.81%   60.39% 73.49%
Nasdaq US Benchmark Retail Index -19.16% 9.54% 12.05%   57.71% 110.12%
Nasdaq US BenchmarkTM Index -8.97% 10.44% 12.01%   64.29% 109.61%
(See Notes to Fund Performance Overview on page 20.)
Performance Review
The Fund generated a NAV return of -13.57% during the period covered by this report. During the same period, the MSCI ACWI Index (the “Benchmark”) generated a return of -7.44%. During the same period, the Fund was most heavily weighted toward investments in the Internet & Direct Marketing Retail industry and the Interactive Media & Services industry, which had an average weight of 24.2% and 21.3%, respectively. Investments in the Interactive Media & Services industry also contributed the most negatively to the Fund’s return, generating -4.0%. The most positive contribution to the Fund’s return came from the Real Estate Management & Development and Air Freight & Logistics industries, with each contributing 0.6% to the Fund’s return, while only being weighted 3.4% and 5.9%, respectively.

(1) On January 26, 2022, the Fund’s underlying index changed from the Nasdaq US Smart Retail Index to the S-Network Global E-Commerce IndexTM.  Therefore, performance and historical returns shown for the periods prior to January 26, 2022, are not necessarily indicative of the performance of the Fund, based on its current Index, would have generated.
(2) Because the Fund’s new underlying Index had an inception date of April 30, 2021, 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.
(3) The MSCI ACWI Index serves as the Fund’s new primary benchmark index. The Fund’s investment advisor determined that the MSCI ACWI Index provides a more appropriate comparison to Fund returns.
S-Network and S-Network Global E-Commerce IndexTM are service marks of VettaFi LLC and have been licensed for use by First Trust Advisors L.P. The Fund is not issued, sponsored, endorsed, sold or promoted by VettaFi LLC or its affiliates (collectively, “VettaFi”). VettaFi makes no representation or warranty, express or implied, to the purchasers or owners of the Fund or any member of the public regarding the advisability of investing in securities generally or in the Fund particularly or the ability of the Index to track general market performance.
Page 12

Fund Performance Overview (Unaudited) (Continued)
First Trust S-Network E-Commerce ETF (ISHP) (Continued)
Sector Allocation % of Total
Investments
Consumer Discretionary 34.9%
Communication Services 26.7
Industrials 15.6
Financials 11.3
Real Estate 5.0
Consumer Staples 4.4
Information Technology 2.1
Total 100.0%
Top Ten Holdings % of Total
Investments
Meta Platforms, Inc., Class A 2.5%
Shopify, Inc., Class A 2.1
MercadoLibre, Inc. 2.1
Airbnb, Inc., Class A 2.1
DoorDash, Inc., Class A 2.0
Copart, Inc. 2.0
FedEx Corp. 2.0
Booking Holdings, Inc. 1.9
Snap, Inc., Class A 1.9
REA Group Ltd. 1.9
Total 20.5%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 13

Fund Performance Overview (Unaudited) (Continued)
First Trust Nasdaq Semiconductor ETF (FTXL)
The First Trust Nasdaq Semiconductor ETF (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 Nasdaq US Smart SemiconductorTM Index (the “Index”). The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “FTXL.” The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index. The Index is owned and is developed, maintained and sponsored by Nasdaq, Inc. (the “Index Provider”).
The Index is designed to provide exposure to U.S. companies comprising the semiconductor sector that have been selected based upon their liquidity and weighted based upon their cumulative score on four investing factors: gross income, return on assets, momentum and cash flow. The Index’s initial selection universe consists of the component securities of the Nasdaq US BenchmarkTM Index that have been classified as comprising the semiconductors sub-sector according to the Industry Classification Benchmark. The Nasdaq US BenchmarkTM Index is an index seeking to track the performance of small, mid and large capitalization U.S. companies. This classification includes producers and distributors of semiconductors and other integrated chips, including other products related to the semiconductor industry, such as semiconductor capital equipment and motherboards.
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
3/31/23
5 Years
Ended
3/31/23
Inception
(9/20/16)
to 3/31/23
  5 Years
Ended
3/31/23
Inception
(9/20/16)
to 3/31/23
Fund Performance            
NAV -6.54% 15.55% 20.59%   106.03% 239.28%
Market Price -6.68% 15.55% 20.58%   106.00% 239.23%
Index Performance            
Nasdaq US Smart SemiconductorTM Index -6.01% 16.28% 21.36%   112.55% 253.71%
Nasdaq US Benchmark Semiconductors Index -4.38% 19.00% 22.80%   138.60% 282.11%
Nasdaq US BenchmarkTM Index -8.97% 10.44% 12.01%   64.29% 109.61%
(See Notes to Fund Performance Overview on page 20.)
Performance Review
The Fund generated a NAV return of -6.54% during the period covered by this report. During the same period, the Nasdaq US Benchmark Semiconductors Index (the “Benchmark”) generated a return of -4.38%. During the same period, the Fund was most heavily weighted toward investments in the Semiconductors industry as expected, with 79.9% weighted towards the Semiconductors sub-industry, and 14.5% toward the Semiconductor Materials and Equipment sub-industry. The largest negative contributions to the Fund’s return were the investments in the Semiconductors and Electronic Components sub-industries, which contributed -3.2% and -2.6% to the Fund’s return, respectively. The largest positive contribution to the Fund’s return was from the Electronic Manufacturing Services sub-industry at 0.7%.

Nasdaq® and Nasdaq US Smart SemiconductorTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
Page 14

Fund Performance Overview (Unaudited) (Continued)
First Trust Nasdaq Semiconductor ETF (FTXL) (Continued)
Sector Allocation % of Total
Investments
Information Technology 100.0%
Total 100.0%
Top Ten Holdings % of Total
Investments
Intel Corp. 9.6%
Texas Instruments, Inc. 8.0
Broadcom, Inc. 7.9
Micron Technology, Inc. 7.7
QUALCOMM, Inc. 7.6
NVIDIA Corp. 4.4
Lam Research Corp. 4.0
Analog Devices, Inc. 3.9
ON Semiconductor Corp. 3.9
Applied Materials, Inc. 3.9
Total 60.9%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 15

Fund Performance Overview (Unaudited) (Continued)
First Trust Nasdaq Transportation ETF (FTXR)
The First Trust Nasdaq Transportation ETF (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 Nasdaq US Smart TransportationTM Index (the “Index”). The shares of the Fund are listed and trade on The Nasdaq Stock Market LLC under the ticker symbol “FTXR.” The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index. The Index is owned and is developed, maintained and sponsored by Nasdaq, Inc. (the “Index Provider”).
The Index is designed to provide exposure to U.S. companies comprising the transportation sector that have been selected based upon their liquidity and weighted based upon their cumulative score on four investing factors: gross income, return on assets, momentum and cash flow. The Index’s initial selection universe consists of the component securities of the Nasdaq US BenchmarkTM Index that have been classified as comprising the industrial transportation sector, the automobiles & parts sector or the airlines sub-sector according to the Industry Classification Benchmark. The Nasdaq US BenchmarkTM Index is an index seeking to track the performance of small, mid and large capitalization U.S. companies. These classifications include: (i) operators of mail and package delivery services; (ii) providers of on-water transportation for commercial markets; (iii) providers of industrial railway transportation and railway lines; (iv) companies that manage airports, train depots, roads, bridges, tunnels, ports, and providers of logistic services to shippers of goods; (v) companies that provide commercial trucking services; (vi) makers of motorcycles and passenger vehicles; (vii) manufacturers and distributors of new and replacement parts for motorcycles and automobiles; (viii) manufacturers, distributors and retreaders of automobile, truck and motorcycle tires; and (ix) companies providing primarily passenger air transport.
Performance  
    Average Annual Total Returns   Cumulative Total Returns
  1 Year
Ended
3/31/23
5 Years
Ended
3/31/23
Inception
(9/20/16)
to 3/31/23
  5 Years
Ended
3/31/23
Inception
(9/20/16)
to 3/31/23
Fund Performance            
NAV -13.76% 3.11% 6.26%   16.55% 48.60%
Market Price -13.78% 3.08% 6.26%   16.37% 48.59%
Index Performance            
Nasdaq US Smart TransportationTM Index -13.63% 3.50% 6.73%   18.75% 53.00%
Nasdaq US Benchmark Industrial Transportation Index -9.67% 11.77% 14.50%   74.43% 142.02%
Nasdaq US BenchmarkTM Index -8.97% 10.44% 12.01%   64.29% 109.61%
(See Notes to Fund Performance Overview on page 20.)
Performance Review
The Fund generated a NAV return of -13.76% during the period covered by this report. During the same period, the Nasdaq US Benchmark Industrial Transportation Index (the “Benchmark”) generated a return of -9.67%. The Ground Transportation industry’s 28.9% allocation was the largest weight in the Fund during the period. This industry also had the greatest negative contribution to the Fund’s return, generating -6.8% during the period. The greatest contribution to the Fund’s return was the 1.0% from the Distributors industry.

Nasdaq® and Nasdaq US Smart TransportationTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
Page 16

Fund Performance Overview (Unaudited) (Continued)
First Trust Nasdaq Transportation ETF (FTXR) (Continued)
Sector Allocation % of Total
Investments
Industrials 74.7%
Consumer Discretionary 25.3
Total 100.0%
Top Ten Holdings % of Total
Investments
FedEx Corp. 9.1%
United Parcel Service, Inc., Class B 8.6
Tesla, Inc. 8.1
Union Pacific Corp. 7.8
General Motors Co. 7.6
PACCAR, Inc. 4.0
CSX Corp. 4.0
Norfolk Southern Corp. 3.8
Delta Air Lines, Inc. 3.7
United Airlines Holdings, Inc. 3.4
Total 60.1%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 17

Fund Performance Overview (Unaudited) (Continued)
First Trust S-Network Streaming & Gaming ETF (BNGE)
The First Trust S-Network Streaming & Gaming ETF (the “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-Network Streaming & Gaming Index (the “Index”). The Fund lists and principally trades its shares on The NYSE Arca, Inc. under the ticker symbol “BNGE.” The Fund will normally invest at least 80% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index.
According to VettaFi LLC (the “Index Provider”), the Index is composed of common stock and depositary receipts issued by U.S. and non-U.S. companies that enable remote users to access online content; publish online content; participate in prospective wagering; spectate or participate in competitive video gaming; and that provide the products, services and technology that are necessary for the streaming and gaming industries. The Index is owned and is developed, maintained and sponsored by VettaFi LLC. The Index Provider retains the right at any time, upon prior written notice, to modify the Index methodology.
Performance
    Average Annual
Total Returns
Cumulative
Total Returns
  1 Year Ended
3/31/23
Inception (1/25/22)
to 3/31/23
Inception (1/25/22)
to 3/31/23
Fund Performance      
NAV -9.08% -11.55% -13.46%
Market Price -9.37% -11.37% -13.25%
Index Performance      
S-Network Streaming & Gaming Index -8.64% -10.64% -12.41%
MSCI ACWI Index -7.44% -4.78% -5.60%
(See Notes to Fund Performance Overview on page 20.)
Performance Review
The Fund generated a NAV return of -9.08% during the period covered by this report. During the same period, the MSCI ACWI Index (the “Benchmark”) generated a return of -7.44%. The United States was the highest weighted country in the Fund during the period with an allocation of 53.0%. Investments in this country contributed -7.9% to the Fund’s return, which was the greatest drag on the Fund’s return of any country in the Fund. The greatest positive contribution to the Fund’s return came from investments in Ireland with a contribution of 2.2%. Exposure to foreign currency contributed -1.7% to the Fund’s total return for the period.

S-Network and S-Network Streaming & Gaming Index are service marks of VettaFi LLC and have been licensed for use by First Trust Advisors L.P. The Fund is not issued, sponsored, endorsed, sold or promoted by VettaFi LLC or its affiliates (collectively, “VettaFi”). VettaFi makes no representation or warranty, express or implied, to the purchasers or owners of the Fund or any member of the public regarding the advisability of investing in securities generally or in the Fund particularly or the ability of the Index to track general market performance.
Page 18

Fund Performance Overview (Unaudited) (Continued)
First Trust S-Network Streaming & Gaming ETF (BNGE) (Continued)
Portfolio Sector Allocation % of Total
Long-Term
Investments
Communication Services 57.2%
Consumer Discretionary 24.1
Information Technology 18.7
Total 100.0%
Top Ten Holdings % of Total
Long-Term
Investments
NVIDIA Corp. 6.9%
Advanced Micro Devices, Inc. 5.7
Warner Bros Discovery, Inc. 4.7
Flutter Entertainment PLC 4.7
Activision Blizzard, Inc. 4.6
Intel Corp. 4.4
Sony Group Corp. 4.4
Netflix, Inc. 4.3
Tencent Holdings Ltd. 4.3
NetEase, Inc., ADR 4.3
Total 48.3%

Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter), is available at https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 19

Notes to Fund Performance Overview  (Unaudited)
Total returns for the periods since inception are calculated from the inception date of each Fund. “Average Annual Total Returns” represent the average annual change in value of an investment over the periods indicated. “Cumulative Total Returns” represent the total change in value of an investment over the periods indicated. 
Each Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is computed by dividing the value of all assets of the Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of outstanding shares. The price used to calculate market return (“Market Price”) is determined by using the midpoint of the national best bid and offer price (“NBBO”) as of the time that the Fund’s NAV is calculated. Under SEC rules, the NBBO consists of the highest displayed buy and lowest sell prices among the various exchanges trading the Fund at the time the Fund’s NAV is calculated. Prior to January 1, 2019, the price used was the midpoint between the highest bid and the lowest offer on the stock exchange on which shares of the Fund were listed for trading as of the time that the Fund’s NAV was calculated. Since shares of each Fund did not trade in the secondary market until after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund, the NAV of each Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that all distributions have been reinvested in each Fund at NAV and Market Price, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike each Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by each Fund. These expenses negatively impact the performance of each Fund. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower. The total returns presented reflect the reinvestment of dividends on securities in the indices. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. The investment return and principal value of shares of each Fund will vary with changes in market conditions. Shares of each Fund may be worth more or less than their original cost when they are redeemed or sold in the market. Each Fund’s past performance is no guarantee of future performance.
Page 20

First Trust Exchange-Traded Fund VI
Understanding Your Fund Expenses
March 31, 2023 (Unaudited)
As a shareholder of First Trust Nasdaq Bank ETF, First Trust Nasdaq Food & Beverage ETF, First Trust Nasdaq Oil & Gas ETF, First Trust Nasdaq Pharmaceuticals ETF, First Trust S-Network E-Commerce ETF, First Trust Nasdaq Semiconductor ETF, First Trust Nasdaq Transportation ETF or First Trust S-Network Streaming & Gaming ETF (each a “Fund” and collectively, the “Funds”), you incur two types of costs: (1) transaction costs; and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees, if any, and other Fund expenses. This Example is intended to help you understand your ongoing costs of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held through the six-month period ended March 31, 2023.
Actual Expenses
The first line in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During the Six-Month Period” to estimate the expenses you paid on your account during this six-month period.
Hypothetical Example for Comparison Purposes
The second line in the following table provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not each Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Funds and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs such as brokerage commissions. Therefore, the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
  Beginning
Account Value
October 1, 2022
Ending
Account Value
March 31, 2023
Annualized
Expense Ratio
Based on the
Six-Month
Period
Expenses Paid
During the
Six-Month
Period (a)
First Trust Nasdaq Bank ETF (FTXO)
Actual $1,000.00 $833.60 0.60% $2.74
Hypothetical (5% return before expenses) $1,000.00 $1,021.94 0.60% $3.02
First Trust Nasdaq Food & Beverage ETF (FTXG)
Actual $1,000.00 $1,096.00 0.60% $3.14
Hypothetical (5% return before expenses) $1,000.00 $1,021.94 0.60% $3.02
First Trust Nasdaq Oil & Gas ETF (FTXN)
Actual $1,000.00 $1,114.90 0.60% $3.16
Hypothetical (5% return before expenses) $1,000.00 $1,021.94 0.60% $3.02
First Trust Nasdaq Pharmaceuticals ETF (FTXH)
Actual $1,000.00 $1,096.20 0.60% $3.14
Hypothetical (5% return before expenses) $1,000.00 $1,021.94 0.60% $3.02
First Trust S-Network E-Commerce ETF (ISHP)
Actual $1,000.00 $1,238.60 0.60% $3.35
Hypothetical (5% return before expenses) $1,000.00 $1,021.94 0.60% $3.02
First Trust Nasdaq Semiconductor ETF (FTXL)
Actual $1,000.00 $1,339.10 0.60% $3.50
Hypothetical (5% return before expenses) $1,000.00 $1,021.94 0.60% $3.02
Page 21

First Trust Exchange-Traded Fund VI
Understanding Your Fund Expenses (Continued)
March 31, 2023 (Unaudited)
  Beginning
Account Value
October 1, 2022
Ending
Account Value
March 31, 2023
Annualized
Expense Ratio
Based on the
Six-Month
Period
Expenses Paid
During the
Six-Month
Period (a)
First Trust Nasdaq Transportation ETF (FTXR)
Actual $1,000.00 $1,178.80 0.60% $3.26
Hypothetical (5% return before expenses) $1,000.00 $1,021.94 0.60% $3.02
First Trust S-Network Streaming & Gaming ETF (BNGE)
Actual $1,000.00 $1,322.20 0.70% $4.05
Hypothetical (5% return before expenses) $1,000.00 $1,021.44 0.70% $3.53
    
(a) Expenses are equal to the annualized expense ratios as indicated in the table multiplied by the average account value over the period (October 1, 2022 through March 31, 2023), multiplied by 182/365 (to reflect the six-month period).
Page 22

First Trust Nasdaq Bank ETF (FTXO)
Portfolio of Investments
March 31, 2023
Shares   Description   Value
COMMON STOCKS – 99.7%
    Banks – 96.7%    
27,479   Ameris Bancorp   $1,005,182
67,909   Associated Banc-Corp.   1,221,004
27,558   Atlantic Union Bankshares Corp.   965,908
11,438   BancFirst Corp.   950,498
479,179   Bank of America Corp.   13,704,519
38,883   Bank OZK   1,329,799
18,402   BOK Financial Corp.   1,553,313
24,053   Cathay General Bancorp   830,310
324,241   Citigroup, Inc.   15,203,660
196,787   Citizens Financial Group, Inc.   5,976,421
28,094   Comerica, Inc.   1,219,841
15,605   Commerce Bancshares, Inc.   910,552
9,338   Cullen/Frost Bankers, Inc.   983,665
32,307   East West Bancorp, Inc.   1,793,038
226,387   Fifth Third Bancorp   6,030,950
4,922   First Citizens BancShares, Inc., Class A   4,789,598
37,744   First Hawaiian, Inc.   778,659
159,885   FNB Corp.   1,854,666
61,703   Fulton Financial Corp.   852,735
27,994   Hancock Whitney Corp.   1,018,982
60,197   Home BancShares, Inc.   1,306,877
417,944   Huntington Bancshares, Inc.   4,680,973
14,905   Independent Bank Corp.   978,066
21,273   International Bancshares Corp.   910,910
114,654   JPMorgan Chase & Co.   14,940,563
246,383   KeyCorp   3,084,715
52,921   M&T Bank Corp.   6,327,764
114,036   Old National Bancorp   1,644,399
35,510   Pacific Premier Bancorp, Inc.   852,950
29,441   Pinnacle Financial Partners, Inc.   1,623,966
52,038   PNC Financial Services Group (The), Inc.   6,614,030
23,459   Popular, Inc.   1,346,781
37,502   Prosperity Bancshares, Inc.   2,307,123
252,057   Regions Financial Corp.   4,678,178
25,877   SouthState Corp.   1,843,995
38,755   Synovus Financial Corp.   1,194,817
17,116   Texas Capital Bancshares, Inc. (a)   837,999
350,069   Truist Financial Corp.   11,937,353
12,103   UMB Financial Corp.   698,585
45,571   United Bankshares, Inc.   1,604,099
172,174   US Bancorp   6,206,873
219,945   Valley National Bancorp   2,032,292
57,993   Webster Financial Corp.   2,286,084
351,418   Wells Fargo & Co.   13,136,005
28,045   Western Alliance Bancorp   996,719
19,578   Wintrust Financial Corp.   1,428,215
20,686   WSFS Financial Corp.   778,000
        159,251,631
Shares   Description   Value
    Consumer Finance – 3.0%    
49,711   Discover Financial Services   $4,913,435
    Total Investments – 99.7%   164,165,066
    (Cost $194,286,325)    
    Net Other Assets and Liabilities – 0.3%   542,958
    Net Assets – 100.0%   $164,708,024
    
(a) Non-income producing security.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of March 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
  Total
Value at
3/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks* $164,165,066 $164,165,066 $$
    
* See Portfolio of Investments for industry breakout.
 
See Notes to Financial Statements
Page 23

First Trust Nasdaq Food & Beverage ETF (FTXG)
Portfolio of Investments
March 31, 2023
Shares   Description   Value
COMMON STOCKS – 99.9%
    Beverages – 27.4%    
581,855   Brown-Forman Corp., Class B   $37,395,821
1,268,544   Coca-Cola (The) Co.   78,687,785
46,148   Coca-Cola Consolidated, Inc.   24,692,872
1,092,492   Keurig Dr. Pepper, Inc.   38,543,118
94,309   Monster Beverage Corp. (a)   5,093,629
120,442   National Beverage Corp. (a)   6,349,702
435,031   PepsiCo, Inc.   79,306,151
        270,069,078
    Chemicals – 3.7%    
605,952   Corteva, Inc.   36,544,965
    Consumer Staples
Distribution & Retail – 3.4%
   
897,496   US Foods Holding Corp. (a)   33,153,502
    Food Products – 64.9%    
948,389   Archer-Daniels-Midland Co.   75,548,668
50,255   Bunge Ltd.   4,800,358
718,685   Campbell Soup Co.   39,513,301
1,036,674   Conagra Brands, Inc.   38,937,475
566,314   Flowers Foods, Inc.   15,522,667
949,426   General Mills, Inc.   81,137,946
158,356   Hershey (The) Co.   40,287,350
850,525   Hormel Foods Corp.   33,918,937
450,342   Hostess Brands, Inc. (a)   11,204,509
58,252   Ingredion, Inc.   5,925,976
255,231   J.M. Smucker (The) Co.   40,165,702
572,418   Kellogg Co.   38,329,109
969,309   Kraft Heinz (The) Co.   37,483,179
218,511   Lamb Weston Holdings, Inc.   22,838,770
46,449   Lancaster Colony Corp.   9,423,573
1,158,200   Mondelez International, Inc., Class A   80,749,704
159,886   Post Holdings, Inc. (a)   14,368,955
138,491   Simply Good Foods (The), Co. (a)   5,507,787
98,371   TreeHouse Foods, Inc. (a)   4,960,849
637,130   Tyson Foods, Inc., Class A   37,794,552
        638,419,367
    Personal Care Products – 0.5%    
155,442   BellRing Brands, Inc. (a)   5,285,028
    Total Investments – 99.9%   983,471,940
    (Cost $968,528,695)    
    Net Other Assets and Liabilities – 0.1%   867,494
    Net Assets – 100.0%   $984,339,434
    
(a) Non-income producing security.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of March 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
  Total
Value at
3/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks* $983,471,940 $983,471,940 $$
    
* See Portfolio of Investments for industry breakout.
 
Page 24
See Notes to Financial Statements

First Trust Nasdaq Oil & Gas ETF (FTXN)
Portfolio of Investments
March 31, 2023
Shares   Description   Value
COMMON STOCKS – 99.8%
    Energy Equipment &
Services – 4.4%
   
80,592   Baker Hughes Co.   $2,325,885
51,811   ChampionX Corp.   1,405,632
90,159   Halliburton Co.   2,852,631
104,186   Liberty Energy, Inc.   1,334,622
94,478   Schlumberger N.V.   4,638,870
23,911   Weatherford International PLC (a)   1,419,118
        13,976,758
    Oil, Gas & Consumable Fuels – 95.4%    
187,817   APA Corp.   6,772,681
78,910   Cheniere Energy, Inc.   12,436,216
73,962   Chesapeake Energy Corp.   5,624,070
154,686   Chevron Corp.   25,238,568
20,409   Chord Energy Corp.   2,747,051
50,789   Civitas Resources, Inc.   3,470,920
203,317   Comstock Resources, Inc.   2,193,790
240,410   ConocoPhillips   23,851,076
314,173   Coterra Energy, Inc.   7,709,805
49,830   CVR Energy, Inc.   1,633,427
18,914   Denbury, Inc. (a)   1,657,434
229,251   Devon Energy Corp.   11,602,393
64,932   Diamondback Energy, Inc.   8,776,858
109,828   EOG Resources, Inc.   12,589,584
152,278   EQT Corp.   4,859,191
226,214   Exxon Mobil Corp.   24,806,627
42,708   Hess Corp.   5,651,977
110,336   HF Sinclair Corp.   5,338,056
202,768   Kosmos Energy Ltd. (a)   1,508,594
85,723   Magnolia Oil & Gas Corp., Class A   1,875,619
311,153   Marathon Oil Corp.   7,455,226
174,490   Marathon Petroleum Corp.   23,526,487
53,647   Matador Resources, Co.   2,556,280
78,664   Murphy Oil Corp.   2,908,995
378,479   Occidental Petroleum Corp.   23,628,444
65,009   ONEOK, Inc.   4,130,672
120,421   Ovintiv, Inc.   4,344,790
160,105   PBF Energy, Inc., Class A   6,942,153
59,910   PDC Energy, Inc.   3,845,024
172,513   Permian Resources Corp.   1,811,387
121,116   Phillips 66   12,278,740
62,031   Pioneer Natural Resources Co.   12,669,211
58,810   Range Resources Corp.   1,556,701
846,191   Southwestern Energy Co. (a)   4,230,955
45,996   Targa Resources Corp.   3,355,408
786   Texas Pacific Land Corp.   1,337,002
Shares   Description   Value
    Oil, Gas & Consumable
Fuels (Continued)
   
94,222   Valero Energy Corp.   $13,153,391
        300,074,803
    Total Investments – 99.8%   314,051,561
    (Cost $309,207,818)    
    Net Other Assets and Liabilities – 0.2%   544,677
    Net Assets – 100.0%   $314,596,238
    
(a) Non-income producing security.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of March 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
  Total
Value at
3/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks* $314,051,561 $314,051,561 $$
    
* See Portfolio of Investments for industry breakout.
 
See Notes to Financial Statements
Page 25

First Trust Nasdaq Pharmaceuticals ETF (FTXH)
Portfolio of Investments
March 31, 2023
Shares   Description   Value
COMMON STOCKS – 99.9%
    Biotechnology – 44.2%    
15,163   AbbVie, Inc.   $2,416,527
7,838   ACADIA Pharmaceuticals, Inc. (a)   147,511
6,065   Alkermes PLC (a)   170,972
847   Alnylam Pharmaceuticals, Inc. (a)   169,671
5,036   Amgen, Inc.   1,217,453
12,296   Amicus Therapeutics, Inc. (a)   136,363
3,862   Biogen, Inc. (a)   1,073,752
1,629   BioMarin Pharmaceutical, Inc. (a)   158,404
2,602   Exact Sciences Corp. (a)   176,442
15,179   Exelixis, Inc. (a)   294,624
14,489   Gilead Sciences, Inc.   1,202,152
4,657   Halozyme Therapeutics, Inc. (a)   177,851
9,690   Incyte Corp. (a)   700,296
4,517   Ionis Pharmaceuticals, Inc. (a)   161,438
7,804   IVERIC bio, Inc. (a)   189,871
813   Karuna Therapeutics, Inc. (a)   147,673
8,405   Moderna, Inc. (a)   1,290,840
1,875   Neurocrine Biosciences, Inc. (a)   189,788
1,325   Prometheus Biosciences, Inc. (a)   142,199
2,909   Prothena Corp. PLC (a)   140,999
3,713   PTC Therapeutics, Inc. (a)   179,858
1,535   Regeneron Pharmaceuticals, Inc. (a)   1,261,263
20,046   Roivant Sciences Ltd. (a)   147,940
1,328   Sarepta Therapeutics, Inc. (a)   183,038
903   Seagen, Inc. (a)   182,830
2,685   United Therapeutics Corp. (a)   601,333
3,958   Vaxcyte, Inc. (a)   148,346
4,019   Vertex Pharmaceuticals, Inc. (a)   1,266,266
7,113   Vir Biotechnology, Inc. (a)   165,520
        14,441,220
    Health Care Equipment &
Supplies – 0.4%
   
2,107   Novocure Ltd. (a)   126,715
    Health Care Providers &
Services – 3.6%
   
15,411   Cardinal Health, Inc.   1,163,530
    Life Sciences Tools &
Services – 3.5%
   
2,421   Charles River Laboratories International, Inc. (a)   488,606
1,846   Medpace Holdings, Inc. (a)   347,141
8,600   Syneos Health, Inc. (a)   306,332
        1,142,079
    Pharmaceuticals – 48.2%    
2,379   Axsome Therapeutics, Inc. (a)   146,737
33,840   Bristol-Myers Squibb Co.   2,345,450
4,113   Catalent, Inc. (a)   270,265
14,139   Elanco Animal Health, Inc. (a)   132,907
Shares   Description   Value
    Pharmaceuticals (Continued)    
3,749   Eli Lilly & Co.   $1,287,482
3,683   Harmony Biosciences Holdings, Inc. (a)   120,250
7,241   Jazz Pharmaceuticals PLC (a)   1,059,576
15,226   Johnson & Johnson   2,360,030
21,965   Merck & Co., Inc.   2,336,856
30,293   Organon & Co.   712,491
6,587   Perrigo Co. PLC   236,276
57,519   Pfizer, Inc.   2,346,775
3,548   Prestige Consumer Healthcare, Inc. (a)   222,211
102,348   Viatris, Inc.   984,588
6,987   Zoetis, Inc.   1,162,916
        15,724,810
    Total Investments – 99.9%   32,598,354
    (Cost $32,505,824)    
    Net Other Assets and Liabilities – 0.1%   41,349
    Net Assets – 100.0%   $32,639,703
    
(a) Non-income producing security.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of March 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
  Total
Value at
3/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks* $32,598,354 $32,598,354 $$
    
* See Portfolio of Investments for industry breakout.
 
Page 26
See Notes to Financial Statements

First Trust S-Network E-Commerce ETF (ISHP)
Portfolio of Investments
March 31, 2023
Shares   Description   Value
COMMON STOCKS – 97.6%
    Air Freight & Logistics – 7.2%    
2,111   Deutsche Post AG (a)   $98,870
452   FedEx Corp.   103,278
474   United Parcel Service, Inc., Class B   91,951
3,047   ZTO Express Cayman, Inc., ADR (b)   87,327
        381,426
    Banks – 1.4%    
3,901   KakoaBank Corp. (a)   72,910
    Broadline Retail – 15.4%    
766   Alibaba Group Holding Ltd., ADR (b)   78,270
909   Amazon.com, Inc. (b)   93,891
5,124   Coupang, Inc. (b)   81,984
1,866   eBay, Inc.   82,794
658   Etsy, Inc. (b)   73,255
1,372   JD.com, Inc., ADR   60,217
85   MercadoLibre, Inc. (b)   112,035
444   Naspers Ltd., Class N (a)   82,271
927   PDD Holdings, Inc., ADR (b)   70,359
1,066   Prosus N.V. (a)   83,472
        818,548
    Commercial Services &
Supplies – 1.9%
   
1,385   Copart, Inc. (b)   104,166
    Consumer Staples
Distribution & Retail – 4.3%
   
92,000   Alibaba Health Information Technology Ltd. (a) (b)   66,352
10,106   JD Health International, Inc. (a) (b) (c) (d)   74,936
598   Walmart, Inc.   88,175
        229,463
    Financial Services – 9.8%    
61   Adyen N.V. (a) (b) (c) (d)   97,199
1,251   Fidelity National Information Services, Inc.   67,967
846   Fiserv, Inc. (b)   95,623
445   FleetCor Technologies, Inc. (b)   93,828
800   Global Payments, Inc.   84,192
1,086   PayPal Holdings, Inc. (b)   82,471
        521,280
    Ground Transportation – 1.8%    
2,984   Uber Technologies, Inc. (b)   94,593
    Hotels, Restaurants &
Leisure – 11.5%
   
880   Airbnb, Inc., Class A (b)   109,472
38   Booking Holdings, Inc. (b)   100,792
1,604   Delivery Hero SE (a) (b) (c) (d)   54,720
Shares   Description   Value
    Hotels, Restaurants &
Leisure (Continued)
   
1,665   DoorDash, Inc., Class A (b)   $105,827
841   Expedia Group, Inc. (b)   81,602
3,907   Meituan, Class B (a) (b) (c) (d)   70,882
2,343   Trip.com Group Ltd., ADR (b)   88,261
        611,556
    Interactive Media & Services – 24.8%    
951   Alphabet, Inc., Class A (b)   98,647
12,901   Auto Trader Group PLC (a) (c) (d)   98,405
635   Baidu, Inc., ADR (b)   95,834
5,715   carsales.com Ltd. (a)   85,411
9,200   Kuaishou Technology (a) (b) (c) (d)   70,742
634   Meta Platforms, Inc., Class A (b)   134,370
555   NAVER Corp. (a)   86,963
3,277   Pinterest, Inc., Class A (b)   89,364
1,078   REA Group Ltd. (a)   100,516
13,062   Rightmove PLC (a)   90,920
5,600   SEEK Ltd. (a)   90,525
8,987   Snap, Inc., Class A (b)   100,744
4,328   Weibo Corp., ADR (b)   86,820
6,796   Yandex N.V., Class A (a) (b) (e) (f)   0
32,800   Z Holdings Corp. (a)   93,003
        1,322,264
    IT Services – 2.1%    
2,357   Shopify, Inc., Class A (b)   112,995
    Marine Transportation – 3.2%    
41   AP Moller - Maersk A.S., Class B (a)   74,526
84,500   COSCO SHIPPING Holdings Co., Ltd., Class H (a)   95,263
        169,789
    Professional Services – 1.4%    
1,079   CoStar Group, Inc. (b)   74,289
    Real Estate Management &
Development – 3.3%
   
4,601   KE Holdings, Inc., ADR (b)   86,683
2,004   Zillow Group, Inc., Class C (b)   89,118
        175,801
    Specialty Retail – 5.9%    
1,003   Best Buy Co., Inc.   78,505
1,295   CarMax, Inc. (b)   83,243
1,980   Chewy, Inc., Class A (b)   74,012
1,914   Zalando SE (a) (b) (c) (d)   80,217
        315,977
 
See Notes to Financial Statements
Page 27

First Trust S-Network E-Commerce ETF (ISHP)
Portfolio of Investments (Continued)
March 31, 2023
Shares   Description   Value
COMMON STOCKS (Continued)
    Textiles, Apparel & Luxury
Goods – 1.9%
   
275   Lululemon Athletica, Inc. (b)   $100,152
    Wireless Telecommunication
Services – 1.7%
   
27,243   Taiwan Mobile Co., Ltd. (a)   90,394
    Total Common Stocks   5,195,603
    (Cost $6,137,705)    
REAL ESTATE INVESTMENT TRUSTS – 1.6%
    Industrial REITs – 1.6%    
709   Prologis, Inc.   88,462
    (Cost $108,155)    
    Total Investments – 99.2%   5,284,065
    (Cost $6,245,860)    
    Net Other Assets and Liabilities – 0.8%   40,163
    Net Assets – 100.0%   $5,324,228
    
(a) This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures approved by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At March 31, 2023, securities noted as such are valued at $1,758,497 or 33.0% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded.
(b) Non-income producing security.
(c) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933, as amended (the “1933 Act”).
(d) This security is exempt from registration upon resale under Rule 144A of the 1933 Act and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities.
(e) Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined to be illiquid by the Advisor.
(f) This security’s value was determined using significant unobservable inputs (see Note 2A – Portfolio Valuation in the Notes to Financial Statements).
    
ADR American Depositary Receipt
Currency Exposure
Diversification
% of Total
Investments
United States Dollar 66.7%
Euro 7.8
Hong Kong Dollar 7.2
Australian Dollar 5.2
British Pound Sterling 3.6
South Korean Won 3.0
Japanese Yen 1.8
New Taiwan Dollar 1.7
South African Rand 1.6
Danish Krone 1.4
Total 100.0%

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of March 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
  Total
Value at
3/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks:        
Air Freight & Logistics $381,426 $282,556 $98,870 $
Banks 72,910 72,910
Broadline Retail 818,548 652,805 165,743
Consumer Staples Distribution & Retail 229,463 88,175 141,288
Financial Services 521,280 424,081 97,199
Hotels, Restaurants & Leisure 611,556 485,954 125,602
Interactive Media & Services 1,322,264 605,779 716,485 —**
Marine Transportation 169,789 169,789
Specialty Retail 315,977 235,760 80,217
Wireless Telecommunication Services 90,394 90,394
Other Industry Categories* 661,996 661,996
Real Estate Investment Trusts* 88,462 88,462
Total Investments $5,284,065 $3,525,568 $1,758,497 $—**
    
* See Portfolio of Investments for industry breakout.
** Investment is valued at $0.
Level 3 investments are fair valued by the Advisor’s Pricing Committee and are footnoted in the Portfolio of Investments. The Level 3 investments values are based on unobservable and non-quantitative inputs.
 
Page 28
See Notes to Financial Statements

First Trust Nasdaq Semiconductor ETF (FTXL)
Portfolio of Investments
March 31, 2023
Shares   Description   Value
COMMON STOCKS – 99.8%
    Electronic Equipment,
Instruments & Components – 4.2%
   
77,179   Advanced Energy Industries, Inc.   $7,563,542
102,171   Avnet, Inc.   4,618,129
63,145   IPG Photonics Corp. (a)   7,786,410
961,048   Vishay Intertechnology, Inc.   21,738,906
        41,706,987
    Semiconductors &
Semiconductor Equipment – 95.6%
   
128,417   Allegro MicroSystems, Inc. (a)   6,162,732
1,405,440   Amkor Technology, Inc.   36,569,549
197,334   Analog Devices, Inc.   38,918,212
311,709   Applied Materials, Inc.   38,287,216
65,891   Axcelis Technologies, Inc. (a)   8,779,976
121,715   Broadcom, Inc.   78,085,041
203,132   Cirrus Logic, Inc. (a)   22,218,578
169,878   Diodes, Inc. (a)   15,757,883
2,904,509   Intel Corp.   94,890,309
95,460   KLA Corp.   38,104,768
74,430   Lam Research Corp.   39,456,832
101,251   Lattice Semiconductor Corp. (a)   9,669,471
91,786   MACOM Technology Solutions Holdings, Inc. (a)   6,502,120
446,822   Microchip Technology, Inc.   37,434,747
1,252,327   Micron Technology, Inc.   75,565,411
14,012   Monolithic Power Systems, Inc.   7,013,566
155,867   NVIDIA Corp.   43,295,177
202,828   NXP Semiconductors N.V.   37,822,351
467,582   ON Semiconductor Corp. (a)   38,491,350
60,709   Onto Innovation, Inc. (a)   5,335,107
102,492   Power Integrations, Inc.   8,674,923
358,967   Qorvo, Inc. (a)   36,460,278
586,203   QUALCOMM, Inc.   74,787,779
25,615   Silicon Laboratories, Inc. (a)   4,484,930
324,517   Skyworks Solutions, Inc.   38,286,516
227,530   Teradyne, Inc.   24,461,750
422,412   Texas Instruments, Inc.   78,572,856
        944,089,428
    Total Investments – 99.8%   985,796,415
    (Cost $945,362,146)    
    Net Other Assets and Liabilities – 0.2%   2,299,635
    Net Assets – 100.0%   $988,096,050
    
(a) Non-income producing security.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of March 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
  Total
Value at
3/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks* $985,796,415 $985,796,415 $$
    
* See Portfolio of Investments for industry breakout.
 
See Notes to Financial Statements
Page 29

First Trust Nasdaq Transportation ETF (FTXR)
Portfolio of Investments
March 31, 2023
Shares   Description   Value
COMMON STOCKS – 99.9%
    Air Freight & Logistics – 23.6%    
9,818   CH Robinson Worldwide, Inc.   $975,615
12,287   Expeditors International of Washington, Inc.   1,353,044
18,897   FedEx Corp.   4,317,776
2,361   Forward Air Corp.   254,421
2,998   Hub Group, Inc., Class A (a)   251,652
21,044   United Parcel Service, Inc., Class B   4,082,326
        11,234,834
    Automobile Components – 6.1%    
6,317   Aptiv PLC (a)   708,704
19,387   BorgWarner, Inc.   952,096
2,618   Dorman Products, Inc. (a)   225,829
8,530   Gentex Corp.   239,096
4,097   Lear Corp.   571,490
1,457   Visteon Corp. (a)   228,501
        2,925,716
    Automobiles – 15.7%    
99,127   General Motors Co.   3,635,978
18,669   Tesla, Inc. (a)   3,873,071
        7,509,049
    Construction & Engineering – 0.9%    
8,708   WillScot Mobile Mini Holdings Corp. (a)   408,231
    Distributors – 3.3%    
5,041   Genuine Parts Co.   843,410
13,257   LKQ Corp.   752,467
        1,595,877
    Ground Transportation – 27.5%    
62,974   CSX Corp.   1,885,442
5,966   JB Hunt Transport Services, Inc.   1,046,794
15,809   Knight-Swift Transportation Holdings, Inc.   894,473
2,112   Landstar System, Inc.   378,597
8,541   Norfolk Southern Corp.   1,810,692
3,075   Old Dominion Freight Line, Inc.   1,048,083
14,395   Ryder System, Inc.   1,284,610
1,085   Saia, Inc. (a)   295,207
18,527   Union Pacific Corp.   3,728,744
5,903   Werner Enterprises, Inc.   268,527
14,292   XPO, Inc. (a)   455,915
        13,097,084
    Machinery – 6.6%    
8,369   Allison Transmission Holdings, Inc.   378,614
Shares   Description   Value
    Machinery (Continued)    
4,616   Federal Signal Corp.   $250,233
25,885   PACCAR, Inc.   1,894,782
5,976   Westinghouse Air Brake Technologies Corp.   603,934
        3,127,563
    Passenger Airlines – 9.6%    
81,604   American Airlines Group, Inc. (a)   1,203,659
50,079   Delta Air Lines, Inc. (a)   1,748,759
36,952   United Airlines Holdings, Inc. (a)   1,635,126
        4,587,544
    Trading Companies &
Distributors – 6.6%
   
3,881   Herc Holdings, Inc.   442,046
16,897   Triton International Ltd.   1,068,228
4,098   United Rentals, Inc.   1,621,825
        3,132,099
    Total Investments – 99.9%   47,617,997
    (Cost $50,036,810)    
    Net Other Assets and Liabilities – 0.1%   47,311
    Net Assets – 100.0%   $47,665,308
    
(a) Non-income producing security.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of March 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
  Total
Value at
3/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks* $47,617,997 $47,617,997 $$
    
* See Portfolio of Investments for industry breakout.
 
Page 30
See Notes to Financial Statements

First Trust S-Network Streaming & Gaming ETF (BNGE)
Portfolio of Investments
March 31, 2023
Shares   Description   Value
COMMON STOCKS (a) – 99.5%
    Australia – 2.6%    
3,706   Aristocrat Leisure Ltd. (b)   $92,659
25,027   Tabcorp Holdings Ltd. (b)   16,687
        109,346
    Cayman Islands – 19.0%    
2,004   Bilibili, Inc., ADR (c) (d)   47,094
1,889   Hello Group, Inc., ADR   17,190
5,077   iQIYI, Inc., ADR (d)   36,961
4,774   JOYY, Inc., ADR   148,853
13,775   Kuaishou Technology (b) (d) (e) (f)   105,921
2,014   NetEase, Inc., ADR   178,118
3,671   Tencent Holdings Ltd. (b)   179,399
10,636   Tencent Music Entertainment Group, ADR (d)   88,066
        801,602
    Greece – 0.5%    
1,338   OPAP S.A. (b)   21,460
    Ireland – 4.6%    
1,084   Flutter Entertainment PLC (b) (d)   195,599
    Isle Of Man (U.K.) – 1.3%    
3,673   Entain PLC (b)   57,042
    Japan – 9.8%    
2,861   Nexon Co., Ltd. (b)   68,317
4,090   Nintendo Co., Ltd. (b)   158,862
2,023   Sony Group Corp. (b)   184,262
        411,441
    Luxembourg – 2.7%    
837   Spotify Technology S.A. (d)   111,840
    Malta – 0.5%    
1,717