First Trust CEF Income Opportunity ETF (FCEF)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Closed-End Funds — 96.7%
	Capital Markets — 96.7%
50,751	Advent Convertible and Income Fund	$	647,583
18,721	AllianzGI Artificial Intelligence & Technology Opportunities Fund		349,147
32,246	AllianzGI Convertible & Income 2024 Target		281,185
26,315	Apollo Tactical Income Fund, Inc.		318,675
98,106	Ares Dynamic Credit Allocation Fund, Inc.		1,154,708
29,155	Barings Global Short Duration High Yield Fund		345,487
29,011	BlackRock Corporate High Yield Fund, Inc.		291,851
18,690	BlackRock Health Sciences Trust II		377,164
27,346	BlackRock Income Trust, Inc.		168,178
32,723	BlackRock Multi-Sector Income Trust		458,776
52,832	BlackRock Science & Technology Trust		1,871,309
35,055	BlackRock Science & Technology Trust II		741,764
61,314	Blackstone / GSO Strategic Credit Fund		683,651
13,081	Central Securities Corp.		378,276
61,070	Cohen & Steers Infrastructure Fund, Inc.		1,383,235
76,054	Cohen & Steers REIT and Preferred and Income Fund, Inc.		1,426,012
63,110	DoubleLine Income Solutions Fund		908,784
13,838	Eaton Vance Enhanced Equity Income Fund		192,348
54,389	Eaton Vance Short Duration Diversified Income Fund		609,701
64,665	Eaton Vance Tax-Advantaged Dividend Income Fund		1,256,441
100,875	Eaton Vance Tax-Advantaged Global Dividend Income Fund		1,391,066
36,992	Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund		774,612
57,951	Gabelli Dividend & Income Trust (The)		1,029,210
22,705	General American Investors Co., Inc.		713,164
12,645	John Hancock Financial Opportunities Fund		300,572
55,397	John Hancock Tax-Advantaged Dividend Income Fund		1,097,969
16,444	Lazard Global Total Return and Income Fund, Inc.		227,092
43,691	Macquarie Global Infrastructure Total Return Fund, Inc.		798,671
19,267	Morgan Stanley China A Share Fund, Inc.		349,118
196,646	Nuveen Credit Strategies Income Fund		1,173,977

Shares	Description	Value
	Closed-End Funds (Continued)
	Capital Markets (Continued)
74,386	Nuveen Preferred & Income Opportunities Fund	$	628,562
36,178	Nuveen Real Asset Income and Growth Fund		415,685
24,493	Nuveen Short Duration Credit Opportunities Fund		289,262
50,605	Nuveen Tax-Advantaged Dividend Growth Fund		656,347
86,445	PGIM Global High Yield Fund, Inc.		1,097,852
73,421	PIMCO Dynamic Credit and Mortgage Income Fund		1,353,149
42,517	Principal Real Estate Income Fund		493,835
21,145	Royce Micro-Cap Trust, Inc.		149,072
50,837	Royce Value Trust, Inc.		619,195
18,947	Source Capital, Inc.		620,514
56,072	Tekla Healthcare Investors		1,189,848
67,517	Tekla Healthcare Opportunities Fund		1,248,389
25,034	Tekla Life Sciences Investors		445,605
28,442	Templeton Emerging Markets Fund		361,213
36,254	Tri-Continental Corp.		894,749
60,860	Western Asset Emerging Markets Debt Fund, Inc.		735,797
61,036	Western Asset High Income Opportunity Fund, Inc.		286,259
17,664	Western Asset Inflation-Linked Opportunities & Income Fund		189,888
	Total Closed-End Funds — 96.7%		33,374,947
	(Cost $38,275,672)
	Exchange-Traded Funds — 1.3%
	Capital Markets — 1.3%
19,004	ProShares Short S&P500		436,712
	(Cost $551,363)
	Money Market Funds — 1.9%
665,068	Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 0.05% (a)		665,068
	(Cost $665,068)
	Total Investments — 99.9%		34,476,727
	(Cost $39,492,103) (b)
	Net Other Assets and Liabilities — 0.1%		31,861
	Net Assets — 100.0%	$	34,508,588

First Trust CEF Income Opportunity ETF (FCEF)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

(a)

Rate shown reflects yield as of May 31, 2020.

(b)

Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $588,286 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $5,603,662. The net unrealized depreciation was $5,015,376.

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Closed-End Funds*	$	33,374,947	$	—	$	—
Exchange-Traded Funds*		436,712		—		—
Money Market Funds		665,068		—		—
Total Investments	$	34,476,727	$	—	$	—
* See Portfolio of Investments for industry breakout.

First Trust Municipal CEF Income Opportunity ETF (MCEF)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Closed-End Funds — 95.8%
	Capital Markets — 95.8%
11,598	BlackRock Florida Municipal 2020 Term Trust	$	169,447
16,875	BlackRock Investment Quality Municipal Trust, Inc.		257,512
15,435	BlackRock Long-Term Municipal Advantage Trust		176,268
24,125	BlackRock Muni Intermediate Duration Fund, Inc.		325,205
16,556	BlackRock Municipal 2030 Target Term Trust		392,377
8,944	BlackRock Municipal Income Investment Quality Trust		121,191
15,671	BlackRock Municipal Income Trust		203,566
11,431	BlackRock Municipal Income Trust II		159,577
14,234	BlackRock MuniHoldings Investment Quality Fund		181,910
13,710	BlackRock MuniHoldings Quality Fund, Inc.		165,480
11,706	BlackRock MuniYield Quality Fund, Inc.		170,791
18,919	BlackRock MuniYield Quality Fund II, Inc.		235,731
23,697	BlackRock MuniYield Quality Fund III, Inc.		306,639
10,274	DTF Tax-Free Income, Inc.		146,096
9,874	Eaton Vance Municipal Bond Fund		126,288
12,753	Eaton Vance Municipal Income 2028 Term Trust		256,845
15,447	Eaton Vance Municipal Income Trust		189,226
11,841	Invesco Municipal Trust		138,303
6,647	Invesco Pennsylvania Value Municipal Income Trust		78,435
26,197	Invesco Quality Municipal Income Trust		312,792
12,700	Invesco Trust for Investment Grade Municipals		153,162
6,014	MainStay MacKay DefinedTerm Municipal Opportunities Fund		125,933
7,130	Neuberger Berman Municipal Fund, Inc.		100,747
27,166	Nuveen AMT-Free Municipal Credit Income Fund		406,403
30,719	Nuveen AMT-Free Quality Municipal Income Fund		426,073
20,631	Nuveen Enhanced Municipal Value Fund		283,057
6,344	Nuveen Intermediate Duration Municipal Term Fund		84,185
6,607	Nuveen Intermediate Duration Quality Municipal Term Fund		91,771
19,115	Nuveen Municipal Credit Income Fund		271,051
17,536	Nuveen Municipal Credit Opportunities Fund		206,048

Shares	Description	Value
	Closed-End Funds (Continued)
	Capital Markets (Continued)
19,911	Nuveen Municipal High Income Opportunity Fund	$	252,671
34,011	Nuveen Municipal Value Fund, Inc.		340,790
27,248	Nuveen Quality Municipal Income Fund		381,199
4,288	Nuveen Select Tax-Free Income Portfolio		65,521
21,302	Western Asset Intermediate Muni Fund, Inc.		181,919
3,998	Western Asset Municipal Defined Opportunity Trust, Inc.		78,001
8,408	Western Asset Municipal High Income Fund, Inc.		59,024
19,423	Western Asset Municipal Partners Fund, Inc.		273,282
	Total Closed-End Funds — 95.8%		7,894,516
	(Cost $8,516,274)
	Exchange-Traded Funds — 2.9%
	Capital Markets — 2.9%
4,092	VanEck Vectors High-Yield Municipal Index ETF		236,436
	(Cost $264,851)
	Total Investments — 98.7%		8,130,952
	(Cost $8,781,125) (a)
	Net Other Assets and Liabilities — 1.3%		106,178
	Net Assets — 100.0%	$	8,237,130

(a) Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $5,142 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $655,315. The net unrealized depreciation was $650,173.

First Trust Municipal CEF Income Opportunity ETF (MCEF)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Closed-End Funds*	$	7,894,516	$	—	$	—
Exchange-Traded Funds*		236,436		—		—
Total Investments	$	8,130,952	$	—	$	—
* See Portfolio of Investments for industry breakout.

Additional Information

First Trust Exchange-Traded Fund VIII

May 31, 2020 (Unaudited)

Valuation Inputs

The Funds are subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.

• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.)

• Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment.

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.

EquityCompass Risk Manager ETF (ERM)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks — 54.1%
	Aerospace & Defense — 1.6%
349	Boeing (The) Co.	$	50,902
345	General Dynamics Corp.		50,656
126	Lockheed Martin Corp.		48,944
1,312	Raytheon Technologies Corp.		84,650
			235,152
	Air Freight & Logistics — 0.7%
380	FedEx Corp.		49,613
476	United Parcel Service, Inc., Class B		47,462
			97,075
	Auto Components — 0.4%
1,935	BorgWarner, Inc.		62,210
	Automobiles — 0.8%
9,986	Ford Motor Co.		57,020
2,338	General Motors Co.		60,507
			117,527
	Banks — 1.7%
2,159	Bank of America Corp.		52,075
1,133	Citigroup, Inc.		54,282
505	JPMorgan Chase & Co.		49,142
1,352	U.S. Bancorp		48,077
1,623	Wells Fargo & Co.		42,961
			246,537
	Beverages — 0.9%
1,004	Coca-Cola (The) Co.		46,867
1,108	Molson Coors Beverage Co., Class B		42,059
358	PepsiCo, Inc.		47,095
			136,021
	Biotechnology — 1.4%
804	AbbVie, Inc.		74,507
212	Amgen, Inc.		48,696
145	Biogen, Inc. (a)		44,528
579	Gilead Sciences, Inc.		45,064
			212,795
	Building Products — 0.5%
1,148	Fortune Brands Home & Security, Inc.		69,982
	Capital Markets — 1.5%
1,312	Bank of New York Mellon (The) Corp.		48,767
103	BlackRock, Inc.		54,450
296	Goldman Sachs Group (The), Inc.		58,161
1,313	Morgan Stanley		58,035
			219,413
	Chemicals — 2.0%
795	Albemarle Corp.		60,833
1,664	CF Industries Holdings, Inc.		48,872

Shares	Description	Value
	Common Stocks (Continued)
	Chemicals (Continued)
1,539	Dow, Inc.	$	59,405
1,317	DuPont de Nemours, Inc.		66,811
944	Eastman Chemical Co.		64,268
			300,189
	Communications Equipment — 1.1%
1,120	Cisco Systems, Inc.		53,559
414	F5 Networks, Inc. (a)		59,997
2,255	Juniper Networks, Inc.		54,706
			168,262
	Consumer Finance — 0.8%
564	American Express Co.		53,619
973	Capital One Financial Corp.		66,203
			119,822
	Containers & Packaging — 0.3%
1,634	WestRock Co.		45,850
	Diversified Financial Services — 0.3%
245	Berkshire Hathaway, Inc., Class B (a)		45,467
	Diversified Telecommunication Services — 1.0%
1,545	AT&T, Inc.		47,679
4,942	CenturyLink, Inc.		48,580
796	Verizon Communications, Inc.		45,674
			141,933
	Electric Utilities — 2.0%
561	Duke Energy Corp.		48,039
1,269	Exelon Corp.		48,615
195	NextEra Energy, Inc.		49,834
1,621	NRG Energy, Inc.		58,437
607	Pinnacle West Capital Corp.		47,285
838	Southern (The) Co.		47,825
			300,035
	Electrical Equipment — 0.4%
918	Emerson Electric Co.		56,016
	Electronic Equipment, Instruments & Components — 0.9%
418	IPG Photonics Corp. (a)		64,957
249	Zebra Technologies Corp., Class A (a)		65,069
			130,026
	Energy Equipment & Services — 0.4%
3,128	Schlumberger Ltd.		57,774
	Entertainment — 1.1%
1,221	Live Nation Entertainment, Inc. (a)		60,024
119	Netflix, Inc. (a)		49,948

EquityCompass Risk Manager ETF (ERM)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Entertainment (Continued)
454	Walt Disney (The) Co.	$	53,254
			163,226
	Equity Real Estate Investment Trusts — 1.8%
1,366	Apartment Investment & Management Co., Class A		50,365
635	Federal Realty Investment Trust		50,743
2,028	Iron Mountain, Inc.		52,241
1,294	Regency Centers Corp.		55,370
987	Simon Property Group, Inc.		56,950
			265,669
	Food & Staples Retailing — 1.0%
152	Costco Wholesale Corp.		46,887
1,084	Walgreens Boots Alliance, Inc.		46,547
379	Walmart, Inc.		47,019
			140,453
	Food Products — 1.3%
403	J.M. Smucker (The) Co.		45,914
1,786	Kraft Heinz (The) Co.		54,419
842	Lamb Weston Holdings, Inc.		50,571
877	Mondelez International, Inc., Class A		45,709
			196,613
	Health Care Equipment & Supplies — 1.5%
553	Abbott Laboratories		52,491
303	ABIOMED, Inc. (a)		67,842
326	Danaher Corp.		54,315
511	Medtronic PLC		50,374
			225,022
	Health Care Providers & Services — 1.1%
787	CVS Health Corp.		51,604
897	Henry Schein, Inc. (a)		54,466
185	UnitedHealth Group, Inc.		56,397
			162,467
	Hotels, Restaurants & Leisure — 0.7%
276	McDonald’s Corp.		51,424
683	Starbucks Corp.		53,267
			104,691
	Household Durables — 0.9%
651	Mohawk Industries, Inc. (a)		60,673
547	Whirlpool Corp.		66,636
			127,309
	Household Products — 0.6%
647	Colgate-Palmolive Co.		46,797

Shares	Description	Value
	Common Stocks (Continued)
	Household Products (Continued)
388	Procter & Gamble (The) Co.	$	44,977
			91,774
	Independent Power and Renewable Electricity Producers — 0.3%
3,384	AES (The) Corp.		42,266
	Industrial Conglomerates — 1.0%
323	3M Co.		50,530
6,206	General Electric Co.		40,774
333	Honeywell International, Inc.		48,568
			139,872
	Insurance — 2.2%
506	Allstate (The) Corp.		49,492
2,011	American International Group, Inc.		60,451
430	Assurant, Inc.		44,109
655	Globe Life, Inc.		50,448
1,828	Lincoln National Corp.		69,336
1,551	MetLife, Inc.		55,852
			329,688
	Interactive Media & Services — 0.8%
39	Alphabet, Inc., Class A (a)		55,907
274	Facebook, Inc., Class A (a)		61,675
			117,582
	Internet & Direct Marketing Retail — 0.8%
23	Amazon.com, Inc. (a)		56,175
34	Booking Holdings, Inc. (a)		55,740
			111,915
	IT Services — 3.8%
274	Accenture PLC, Class A		55,244
473	Broadridge Financial Solutions, Inc.		57,280
472	Gartner, Inc. (a)		57,442
401	International Business Machines Corp.		50,085
290	Jack Henry & Associates, Inc.		52,449
499	Leidos Holdings, Inc.		52,540
185	Mastercard, Inc., Class A		55,665
467	PayPal Holdings, Inc. (a)		72,390
278	Visa, Inc., Class A		54,277
2,429	Western Union (The) Co.		48,628
			556,000
	Life Sciences Tools & Services — 0.4%
154	Thermo Fisher Scientific, Inc.		53,775
	Machinery — 1.1%
376	Caterpillar, Inc.		45,169
1,580	Pentair PLC		61,841

EquityCompass Risk Manager ETF (ERM)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Machinery (Continued)
430	Snap-on, Inc.	$	55,767
			162,777
	Media — 2.0%
100	Charter Communications, Inc., Class A (a)		54,400
1,286	Comcast Corp., Class A		50,926
2,338	DISH Network Corp., Class A (a)		73,998
3,028	Interpublic Group of Cos. (The), Inc.		51,809
5,349	News Corp., Class A		65,525
			296,658
	Multiline Retail — 0.4%
467	Target Corp.		57,128
	Multi-Utilities — 0.4%
3,085	CenterPoint Energy, Inc.		54,851
	Oil, Gas & Consumable Fuels — 1.7%
587	Chevron Corp.		53,828
1,321	ConocoPhillips		55,720
1,100	Exxon Mobil Corp.		50,017
3,240	Kinder Morgan, Inc.		51,192
3,415	Occidental Petroleum Corp.		44,224
			254,981
	Pharmaceuticals — 2.4%
802	Bristol-Myers Squibb Co.		47,895
309	Eli Lilly and Co.		47,262
334	Johnson & Johnson		49,682
576	Merck & Co., Inc.		46,495
3,139	Mylan N.V. (a)		53,583
1,048	Perrigo Co. PLC		57,399
1,348	Pfizer, Inc.		51,480
			353,796
	Road & Rail — 0.4%
315	Union Pacific Corp.		53,506
	Semiconductors & Semiconductor Equipment — 2.3%
815	Intel Corp.		51,288
938	Maxim Integrated Products, Inc.		54,104
174	NVIDIA Corp.		61,773
578	Qorvo, Inc. (a)		60,540
650	QUALCOMM, Inc.		52,572
434	Texas Instruments, Inc.		51,533
			331,810
	Software — 1.5%
144	Adobe, Inc. (a)		55,670
284	Microsoft Corp.		52,043
888	Oracle Corp.		47,748

Shares	Description	Value
	Common Stocks (Continued)
	Software (Continued)
242	Paycom Software, Inc. (a)	$	71,930
			227,391
	Specialty Retail — 0.9%
243	Home Depot (The), Inc.		60,381
535	Lowe’s Cos., Inc.		69,737
			130,118
	Technology Hardware, Storage & Peripherals — 1.7%
180	Apple, Inc.		57,229
4,612	Hewlett Packard Enterprise Co.		44,783
1,104	NetApp, Inc.		49,172
918	Seagate Technology PLC		48,691
1,130	Western Digital Corp.		50,138
			250,013
	Textiles, Apparel & Luxury Goods — 0.7%
548	NIKE, Inc., Class B		54,022
661	Ralph Lauren Corp.		49,912
			103,934
	Tobacco — 0.6%
1,221	Altria Group, Inc.		47,680
592	Philip Morris International, Inc.		43,429
			91,109
	Total Common Stocks — 54.1%		7,958,480
	(Cost $8,035,961)
	Money Market Funds — 45.6%
6,697,691	Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 0.05% (b)		6,697,691
	(Cost $6,697,691)
	Total Investments — 99.7%		14,656,171
	(Cost $14,733,652) (c)
	Net Other Assets and Liabilities — 0.3%		44,151
	Net Assets — 100.0%	$	14,700,322

EquityCompass Risk Manager ETF (ERM)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

(a)	Non-income producing security.
(b)	Rate shown reflects yield as of May 31, 2020.
(c)	Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $914,673 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $992,154. The net unrealized depreciation was $77,481.

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Common Stocks*	$	7,958,480	$	—	$	—
Money Market Funds		6,697,691		—		—
Total Investments	$	14,656,171	$	—	$	—
* See Portfolio of Investments for industry breakout.

EquityCompass Tactical Risk Manager ETF (TERM)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks — 54.2%
	Aerospace & Defense — 1.6%
344	Boeing (The) Co.	$	50,172
337	General Dynamics Corp.		49,482
124	Lockheed Martin Corp.		48,167
1,293	Raytheon Technologies Corp.		83,424
			231,245
	Air Freight & Logistics — 0.7%
371	FedEx Corp.		48,438
466	United Parcel Service, Inc., Class B		46,465
			94,903
	Auto Components — 0.4%
1,901	BorgWarner, Inc.		61,117
	Automobiles — 0.8%
9,796	Ford Motor Co.		55,935
2,294	General Motors Co.		59,369
			115,304
	Banks — 1.7%
2,104	Bank of America Corp.		50,748
1,111	Citigroup, Inc.		53,228
493	JPMorgan Chase & Co.		47,974
1,321	U.S. Bancorp		46,975
1,587	Wells Fargo & Co.		42,008
			240,933
	Beverages — 0.9%
979	Coca-Cola (The) Co.		45,700
1,083	Molson Coors Beverage Co., Class B		41,111
350	PepsiCo, Inc.		46,042
			132,853
	Biotechnology — 1.5%
787	AbbVie, Inc.		72,931
207	Amgen, Inc.		47,548
143	Biogen, Inc. (a)		43,914
566	Gilead Sciences, Inc.		44,052
			208,445
	Building Products — 0.5%
1,124	Fortune Brands Home & Security, Inc.		68,519
	Capital Markets — 1.5%
1,283	Bank of New York Mellon (The) Corp.		47,689
101	BlackRock, Inc.		53,393
290	Goldman Sachs Group (The), Inc.		56,982
1,281	Morgan Stanley		56,620
			214,684
	Chemicals — 2.0%
779	Albemarle Corp.		59,609
1,626	CF Industries Holdings, Inc.		47,755
1,498	Dow, Inc.		57,823

Shares	Description	Value
	Common Stocks (Continued)
	Chemicals (Continued)
1,293	DuPont de Nemours, Inc.	$	65,594
925	Eastman Chemical Co.		62,974
			293,755
	Communications Equipment — 1.1%
1,096	Cisco Systems, Inc.		52,411
403	F5 Networks, Inc. (a)		58,403
2,206	Juniper Networks, Inc.		53,517
			164,331
	Consumer Finance — 0.8%
551	American Express Co.		52,384
953	Capital One Financial Corp.		64,842
			117,226
	Containers & Packaging — 0.3%
1,605	WestRock Co.		45,036
	Diversified Financial Services — 0.3%
238	Berkshire Hathaway, Inc., Class B (a)		44,168
	Diversified Telecommunication Services — 1.0%
1,507	AT&T, Inc.		46,506
4,851	CenturyLink, Inc.		47,686
777	Verizon Communications, Inc.		44,584
			138,776
	Electric Utilities — 2.0%
549	Duke Energy Corp.		47,011
1,245	Exelon Corp.		47,696
191	NextEra Energy, Inc.		48,812
1,586	NRG Energy, Inc.		57,175
597	Pinnacle West Capital Corp.		46,506
821	Southern (The) Co.		46,855
			294,055
	Electrical Equipment — 0.4%
898	Emerson Electric Co.		54,796
	Electronic Equipment, Instruments & Components — 0.9%
412	IPG Photonics Corp. (a)		64,025
244	Zebra Technologies Corp., Class A (a)		63,762
			127,787
	Energy Equipment & Services — 0.4%
3,052	Schlumberger Ltd.		56,370
	Entertainment — 1.1%
1,195	Live Nation Entertainment, Inc. (a)		58,746
116	Netflix, Inc. (a)		48,689

EquityCompass Tactical Risk Manager ETF (TERM)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Entertainment (Continued)
444	Walt Disney (The) Co.	$	52,081
			159,516
	Equity Real Estate Investment Trusts — 1.8%
1,344	Apartment Investment & Management Co., Class A		49,553
624	Federal Realty Investment Trust		49,864
1,992	Iron Mountain, Inc.		51,314
1,273	Regency Centers Corp.		54,472
964	Simon Property Group, Inc.		55,623
			260,826
	Food & Staples Retailing — 1.0%
149	Costco Wholesale Corp.		45,962
1,055	Walgreens Boots Alliance, Inc.		45,302
371	Walmart, Inc.		46,026
			137,290
	Food Products — 1.3%
394	J.M. Smucker (The) Co.		44,888
1,746	Kraft Heinz (The) Co.		53,201
827	Lamb Weston Holdings, Inc.		49,670
858	Mondelez International, Inc., Class A		44,719
			192,478
	Health Care Equipment & Supplies — 1.5%
541	Abbott Laboratories		51,352
297	ABIOMED, Inc. (a)		66,498
317	Danaher Corp.		52,815
500	Medtronic PLC		49,290
			219,955
	Health Care Providers & Services — 1.1%
769	CVS Health Corp.		50,423
878	Henry Schein, Inc. (a)		53,312
180	UnitedHealth Group, Inc.		54,873
			158,608
	Hotels, Restaurants & Leisure — 0.7%
271	McDonald’s Corp.		50,493
668	Starbucks Corp.		52,097
			102,590
	Household Durables — 0.9%
637	Mohawk Industries, Inc. (a)		59,368
535	Whirlpool Corp.		65,174
			124,542
	Household Products — 0.6%
632	Colgate-Palmolive Co.		45,712

Shares	Description	Value
	Common Stocks (Continued)
	Household Products (Continued)
379	Procter & Gamble (The) Co.	$	43,934
			89,646
	Independent Power and Renewable Electricity Producers — 0.3%
3,310	AES (The) Corp.		41,342
	Industrial Conglomerates — 1.0%
316	3M Co.		49,435
6,071	General Electric Co.		39,887
326	Honeywell International, Inc.		47,547
			136,869
	Insurance — 2.2%
495	Allstate (The) Corp.		48,416
1,971	American International Group, Inc.		59,248
423	Assurant, Inc.		43,391
639	Globe Life, Inc.		49,216
1,803	Lincoln National Corp.		68,388
1,515	MetLife, Inc.		54,555
			323,214
	Interactive Media & Services — 0.8%
38	Alphabet, Inc., Class A (a)		54,474
269	Facebook, Inc., Class A (a)		60,549
			115,023
	Internet & Direct Marketing Retail — 0.8%
23	Amazon.com, Inc. (a)		56,174
33	Booking Holdings, Inc. (a)		54,101
			110,275
	IT Services — 3.8%
268	Accenture PLC, Class A		54,034
462	Broadridge Financial Solutions, Inc.		55,948
464	Gartner, Inc. (a)		56,469
392	International Business Machines Corp.		48,961
284	Jack Henry & Associates, Inc.		51,364
489	Leidos Holdings, Inc.		51,487
180	Mastercard, Inc., Class A		54,160
457	PayPal Holdings, Inc. (a)		70,840
273	Visa, Inc., Class A		53,300
2,383	Western Union (The) Co.		47,708
			544,271
	Life Sciences Tools & Services — 0.4%
150	Thermo Fisher Scientific, Inc.		52,379
	Machinery — 1.1%
368	Caterpillar, Inc.		44,208
1,550	Pentair PLC		60,667

EquityCompass Tactical Risk Manager ETF (TERM)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Machinery (Continued)
421	Snap-on, Inc.	$	54,599
			159,474
	Media — 2.0%
99	Charter Communications, Inc., Class A (a)		53,856
1,256	Comcast Corp., Class A		49,738
2,291	DISH Network Corp., Class A (a)		72,510
2,968	Interpublic Group of Cos. (The), Inc.		50,782
5,237	News Corp., Class A		64,153
			291,039
	Multiline Retail — 0.4%
458	Target Corp.		56,027
	Multi-Utilities — 0.4%
3,032	CenterPoint Energy, Inc.		53,909
	Oil, Gas & Consumable Fuels — 1.7%
574	Chevron Corp.		52,636
1,286	ConocoPhillips		54,243
1,072	Exxon Mobil Corp.		48,744
3,181	Kinder Morgan, Inc.		50,260
3,314	Occidental Petroleum Corp.		42,916
			248,799
	Pharmaceuticals — 2.4%
783	Bristol-Myers Squibb Co.		46,761
302	Eli Lilly and Co.		46,191
326	Johnson & Johnson		48,492
561	Merck & Co., Inc.		45,284
3,069	Mylan N.V. (a)		52,388
1,026	Perrigo Co. PLC		56,194
1,317	Pfizer, Inc.		50,296
			345,606
	Road & Rail — 0.4%
308	Union Pacific Corp.		52,317
	Semiconductors & Semiconductor Equipment — 2.3%
795	Intel Corp.		50,029
919	Maxim Integrated Products, Inc.		53,008
170	NVIDIA Corp.		60,353
567	Qorvo, Inc. (a)		59,388
637	QUALCOMM, Inc.		51,521
427	Texas Instruments, Inc.		50,702
			325,001
	Software — 1.5%
141	Adobe, Inc. (a)		54,511
277	Microsoft Corp.		50,760
868	Oracle Corp.		46,672
237	Paycom Software, Inc. (a)		70,444
			222,387

Shares	Description	Value
	Common Stocks (Continued)
	Specialty Retail — 0.9%
237	Home Depot (The), Inc.	$	58,890
523	Lowe’s Cos., Inc.		68,173
			127,063
	Technology Hardware, Storage & Peripherals — 1.7%
178	Apple, Inc.		56,593
4,504	Hewlett Packard Enterprise Co.		43,734
1,077	NetApp, Inc.		47,969
901	Seagate Technology PLC		47,789
1,107	Western Digital Corp.		49,118
			245,203
	Textiles, Apparel & Luxury Goods — 0.7%
540	NIKE, Inc., Class B		53,233
652	Ralph Lauren Corp.		49,233
			102,466
	Tobacco — 0.6%
1,190	Altria Group, Inc.		46,470
579	Philip Morris International, Inc.		42,475
			88,945
	Total Common Stocks — 54.2%		7,791,363
	(Cost $8,274,479)
	Money Market Funds — 45.5%
6,534,531	Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 0.05% (b)		6,534,531
	(Cost $6,534,531)
	Total Investments — 99.7%		14,325,894
	(Cost $14,809,010) (c)
	Net Other Assets and Liabilities — 0.3%		43,226
	Net Assets — 100.0%	$	14,369,120

(a)	Non-income producing security.
(b)	Rate shown reflects yield as of May 31, 2020.
(c)	Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $761,446 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $1,244,562. The net unrealized depreciation was $483,116.

EquityCompass Tactical Risk Manager ETF (TERM)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Common Stocks*	$	7,791,363	$	—	$	—
Money Market Funds		6,534,531		—		—
Total Investments	$	14,325,894	$	—	$	—
* See Portfolio of Investments for industry breakout.

Additional Information

First Trust Exchange-Traded Fund VIII

May 31, 2020 (Unaudited)

Valuation Inputs

The Funds are subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.

• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.)

• Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment.

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 34.3%
		Collateralized Mortgage Obligations — 0.9%
		Federal Home Loan Mortgage Corporation
$	250,488	Series 2017-4656, Class EZ	4.00%	02/15/47	$	289,555
		Federal National Mortgage Association
	3,335,493	Series 2012-20, Class ZT	3.50%	03/25/42		3,658,174
	2,958,546	Series 2012-84, Class VZ	3.50%	08/25/42		3,248,106
	1,100,280	Series 2018-38, Class PA	3.50%	06/25/47		1,154,536
	2,880,568	Series 2018-43, Class CT	3.00%	06/25/48		3,008,369
	1,222,968	Series 2018-86, Class JA	4.00%	05/25/47		1,279,704
	476,390	Series 2018-94, Class KD	3.50%	12/25/48		503,013
	537,930	Series 2019-1, Class KP	3.25%	02/25/49		563,731
	793,468	Series 2019-20, Class BA	3.50%	02/25/48		829,983
	298,366	Series 2019-52, Class PA	3.00%	09/25/49		305,949
		Government National Mortgage Association
	551,621	Series 2018-115, Class DE	3.50%	08/20/48		586,533
	512,637	Series 2018-124, Class NW	3.50%	09/20/48		551,840
	2,465,693	Series 2019-12, Class QA	3.50%	09/20/48		2,589,620
	491,069	Series 2019-71, Class PT	3.00%	06/20/49		516,660
	3,228,949	Series 2019-119, Class JE	3.00%	09/20/49		3,360,753
						22,446,526
		Commercial Mortgage-Backed Securities — 0.8%
		Federal National Mortgage Association
	4,714,117	Series 2020-M10, Class X1, IO (a)	1.92%	12/25/30		705,482
	11,169,958	Series 2020-M10, Class X2, IO (a)	1.83%	12/25/30		1,589,119
	3,767,078	Series 2020-M10, Class X3, IO (a)	1.44%	11/25/28		350,432
	4,187,324	Series 2020-M10, Class X4, IO (a)	1.00%	07/25/32		353,546
	3,710,000	Series 2020-M10, Class X5, IO (a)	1.55%	11/25/28		390,406
	3,915,000	Series 2020-M10, Class X6, IO (a)	1.50%	08/25/28		390,534
	3,595,000	Series 2020-M10, Class X8, IO (a)	0.78%	12/25/27		154,576
	3,142,761	Series 2020-M10, Class X9, IO (a)	0.98%	12/25/27		153,100
		Freddie Mac Multiclass Certificates
	2,965,000	Series 2020-RR06, Class AX, IO (a)	1.88%	10/27/28		389,298
	2,330,000	Series 2020-RR06, Class BX, IO (a)	1.84%	05/27/33		401,543
		Freddie Mac Multifamily Structured Pass-Through Certificates
	6,963,000	Series 2017-K068, Class A2	3.24%	08/25/27		7,934,689
	902,159	Series 2017-Q006, Class APT2 (b)	2.52%	09/25/26		934,721
	3,980,000	Series 2018-K155, Class A2	3.75%	11/25/32		4,789,923
						18,537,369
		Pass-through Securities — 32.6%
		Federal Home Loan Mortgage Corporation
	206,065	Pool C91981	3.00%	02/01/38		217,052
	134,900	Pool G07961	3.50%	03/01/45		146,751
	147,152	Pool G08692	3.00%	02/01/46		155,859
	4,340,749	Pool G08715	3.00%	08/01/46		4,592,202
	85,943	Pool G08721	3.00%	09/01/46		91,018
	991,437	Pool G08726	3.00%	10/01/46		1,049,212
	2,331,663	Pool G08732	3.00%	11/01/46		2,467,182
	1,080,408	Pool G08737	3.00%	12/01/46		1,141,068
	318,095	Pool G08738	3.50%	12/01/46		340,559
	565,160	Pool G08741	3.00%	01/01/47		598,250
	366,201	Pool G08747	3.00%	02/01/47		388,001
	329,868	Pool G08748	3.50%	02/01/47		353,097

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)
		Pass-through Securities (Continued)
		Federal Home Loan Mortgage Corporation (Continued)
$	1,203,368	Pool G08750	3.00%	03/01/47	$	1,271,394
	463,650	Pool G08766	3.50%	06/01/47		492,527
	1,196,791	Pool G08788	3.50%	11/01/47		1,273,371
	3,288,709	Pool G08791	3.00%	12/01/47		3,469,555
	3,774,381	Pool G08792	3.50%	12/01/47		3,996,219
	1,118,669	Pool G08795	3.00%	01/01/48		1,181,756
	543,611	Pool G08800	3.50%	02/01/48		576,932
	1,028,571	Pool G08816	3.50%	06/01/48		1,087,498
	224,300	Pool G08833	5.00%	07/01/48		245,543
	38,613	Pool G08838	5.00%	09/01/48		42,253
	811,179	Pool G08843	4.50%	10/01/48		877,492
	177,660	Pool G08844	5.00%	10/01/48		194,389
	504,882	Pool G08849	5.00%	11/01/48		551,802
	793,520	Pool G16085	2.50%	02/01/32		836,628
	554,011	Pool G16350	2.50%	10/01/32		583,751
	805,682	Pool G16396	3.50%	02/01/33		853,946
	2,193,467	Pool G16524	3.50%	05/01/33		2,338,325
	903,869	Pool G16598	2.50%	12/01/31		952,420
	2,492,752	Pool G18622	2.50%	12/01/31		2,615,688
	277,204	Pool G18670	3.00%	12/01/32		292,414
	93,712	Pool G18691	3.00%	06/01/33		98,902
	316,638	Pool G18713	3.50%	11/01/33		334,898
	2,869,683	Pool G60038	3.50%	01/01/44		3,115,794
	727,249	Pool G60080	3.50%	06/01/45		796,911
	1,525,239	Pool G60344	4.00%	12/01/45		1,696,838
	475,287	Pool G60440	3.50%	03/01/46		520,838
	1,603,686	Pool G60582	3.50%	05/01/46		1,745,662
	1,248,605	Pool G60658	3.50%	07/01/46		1,381,973
	785,921	Pool G61556	3.50%	08/01/48		854,916
	4,387,641	Pool G61748	3.50%	11/01/48		4,804,660
	1,392,299	Pool G67700	3.50%	08/01/46		1,524,046
	3,132,300	Pool G67703	3.50%	04/01/47		3,430,930
	12,300,056	Pool G67706	3.50%	12/01/47		13,472,789
	2,573,092	Pool G67707	3.50%	01/01/48		2,845,617
	17,666,004	Pool G67708	3.50%	03/01/48		19,275,765
	3,000,210	Pool G67709	3.50%	03/01/48		3,285,352
	2,870,275	Pool G67710	3.50%	03/01/48		3,093,641
	4,146,523	Pool G67714	4.00%	07/01/48		4,558,474
	5,770,671	Pool G67717	4.00%	11/01/48		6,340,316
	10,488,027	Pool G67718	4.00%	01/01/49		11,459,835
	316,436	Pool Q44452	3.00%	11/01/46		334,828
	796,708	Pool Q50135	3.50%	08/01/47		848,888
	14,243,539	Pool QA7837	3.50%	03/01/50		15,614,532
	8,439,955	Pool RB5048	2.50%	05/01/40		8,768,379
	10,545,000	Pool RB5054	2.50%	06/01/40		10,958,710
	6,242,591	Pool RE6029	3.00%	02/01/50		6,458,168
	8,645,245	Pool SD7511	3.50%	01/01/50		9,360,176
	9,981,510	Pool SD8044	3.00%	02/01/50		10,511,355
	506,923	Pool U90772	3.50%	01/01/43		549,858
	679,616	Pool U99114	3.50%	02/01/44		737,145
	1,667,503	Pool WA3208	3.98%	04/01/34		1,980,265
	1,652,116	Pool ZA4692	3.50%	06/01/46		1,782,737

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)
		Pass-through Securities (Continued)
		Federal Home Loan Mortgage Corporation (Continued)
$	761,972	Pool ZM0063	4.00%	08/01/45	$	831,008
	756,737	Pool ZS8602	3.00%	03/01/31		800,166
	1,324,206	Pool ZS9844	3.50%	07/01/46		1,428,906
	4,110,414	Pool ZT0277	3.50%	10/01/46		4,432,609
	1,535,937	Pool ZT0531	3.50%	04/01/47		1,681,871
	1,716,723	Pool ZT0536	3.50%	03/01/48		1,872,597
	1,026,906	Pool ZT0542	4.00%	07/01/48		1,128,637
	323,634	Pool ZT1403	3.50%	11/01/33		342,302
	3,466,138	Pool ZT1703	4.00%	01/01/49		3,786,326
		Federal National Mortgage Association
	6,135,673	Pool AL8825	3.50%	06/01/46		6,676,868
	113,112	Pool AM5673	3.65%	04/01/23		120,479
	115,457	Pool AM7122	3.61%	11/01/34		137,624
	41,807	Pool AN0550	3.63%	02/01/31		48,311
	118,714	Pool AN2786	2.76%	09/01/36		131,621
	199,276	Pool AN4665	3.49%	02/01/32		231,465
	3,066,398	Pool AS0225	4.00%	08/01/43		3,376,420
	3,534,613	Pool AS3134	3.50%	08/01/44		3,857,908
	881,480	Pool AS6620	3.50%	02/01/46		951,106
	275,471	Pool AS9334	3.00%	03/01/32		290,587
	334,286	Pool AS9749	4.00%	06/01/47		357,887
	286,209	Pool BD7081	4.00%	03/01/47		307,899
	2,989,896	Pool BJ2692	3.50%	04/01/48		3,176,948
	2,120,000	Pool BL6060	2.46%	04/01/40		2,152,878
	2,008,248	Pool BM1903	3.50%	08/01/47		2,174,894
	847,882	Pool BM2000	3.50%	05/01/47		905,519
	2,111,831	Pool BM3260	3.50%	01/01/48		2,277,972
	1,016,825	Pool BM4299	3.00%	03/01/30		1,072,872
	999,748	Pool BM4304	3.00%	02/01/30		1,054,244
	1,658,363	Pool BM4472	3.50%	07/01/48		1,815,438
	2,246,774	Pool CA0854	3.50%	12/01/47		2,443,923
	1,005,960	Pool CA0907	3.50%	12/01/47		1,094,230
	915,962	Pool CA0996	3.50%	01/01/48		997,304
	6,835,840	Pool CA1182	3.50%	02/01/48		7,433,729
	2,013,390	Pool CA1187	3.50%	02/01/48		2,143,308
	1,228,633	Pool CA1710	4.50%	05/01/48		1,327,065
	797,510	Pool CA1711	4.50%	05/01/48		862,795
	520,038	Pool CA2208	4.50%	08/01/48		562,080
	1,074,430	Pool CA2327	4.00%	09/01/48		1,201,905
	7,023,387	Pool CA3633	3.50%	06/01/49		7,688,169
	1,593,425	Pool FM1134	3.00%	04/01/48		1,684,315
	607,599	Pool MA1146	4.00%	08/01/42		665,814
	873,296	Pool MA1373	3.50%	03/01/43		946,841
	1,002,428	Pool MA2077	3.50%	11/01/34		1,075,970
	256,836	Pool MA2145	4.00%	01/01/45		279,981
	1,412,378	Pool MA2670	3.00%	07/01/46		1,494,692
	1,261,837	Pool MA2806	3.00%	11/01/46		1,334,712
	40,069	Pool MA2896	3.50%	02/01/47		42,807
	1,754,510	Pool MA3057	3.50%	07/01/47		1,868,128
	734,188	Pool MA3088	4.00%	08/01/47		787,684
	576,485	Pool MA3147	3.00%	10/01/47		608,209
	1,631,129	Pool MA3210	3.50%	12/01/47		1,727,658

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)
		Pass-through Securities (Continued)
		Federal National Mortgage Association (Continued)
$	17,829,206	Pool MA3238	3.50%	01/01/48	$	18,878,874
	1,485,387	Pool MA3239	4.00%	01/01/48		1,590,264
	799,827	Pool MA3276	3.50%	02/01/48		848,813
	563,598	Pool MA3336	3.50%	04/01/38		599,917
	405,930	Pool MA3410	3.50%	07/01/33		428,876
	723,051	Pool MA3537	4.50%	12/01/48		780,322
	4,312,911	Pool MA3846	3.00%	11/01/49		4,462,154
	7,719,403	Pool MA3960	3.00%	03/01/50		8,129,169
	14,954,488	Pool MA4016	2.50%	05/01/40		15,541,190
	46,575,000	Pool TBA (c)	2.50%	07/15/35		48,664,623
	1,075,000	Pool TBA (c)	5.00%	06/15/47		1,175,025
	94,775,000	Pool TBA (c)	2.50%	06/15/50		98,340,168
	4,950,000	Pool TBA (c)	2.00%	07/15/50		5,037,144
	131,425,000	Pool TBA (c)	2.50%	07/15/50		136,084,847
	84,850,000	Pool TBA (c)	3.00%	07/15/50		89,061,332
		Government National Mortgage Association
	399,642	Pool MA1157	3.50%	07/20/43		437,673
	546,291	Pool MA3521	3.50%	03/20/46		588,160
	399,548	Pool MA4069	3.50%	11/20/46		430,630
	233,404	Pool MA4195	3.00%	01/20/47		248,082
	283,133	Pool MA4196	3.50%	01/20/47		302,755
	1,309,109	Pool MA4261	3.00%	02/20/47		1,390,477
	378,969	Pool MA4262	3.50%	02/20/47		406,836
	10,812,993	Pool MA4382	3.50%	04/20/47		11,601,993
	125,590	Pool MA4453	4.50%	05/20/47		138,292
	141,500	Pool MA4586	3.50%	07/20/47		150,849
	892,926	Pool MA4588	4.50%	07/20/47		975,911
	2,350,885	Pool MA4651	3.00%	08/20/47		2,500,099
	1,293,862	Pool MA4652	3.50%	08/20/47		1,384,880
	1,295,350	Pool MA4719	3.50%	09/20/47		1,385,270
	136,085	Pool MA4722	5.00%	09/20/47		150,014
	120,669	Pool MA4777	3.00%	10/20/47		128,113
	3,196,452	Pool MA4778	3.50%	10/20/47		3,418,457
	2,924,998	Pool MA4836	3.00%	11/20/47		3,105,558
	3,105,572	Pool MA4837	3.50%	11/20/47		3,317,527
	1,049,129	Pool MA4838	4.00%	11/20/47		1,128,192
	174,968	Pool MA4901	4.00%	12/20/47		188,263
	766,120	Pool MA4961	3.00%	01/20/48		812,589
	1,138,149	Pool MA4962	3.50%	01/20/48		1,217,321
	1,666,383	Pool MA4963	4.00%	01/20/48		1,794,141
	927,897	Pool MA5078	4.00%	03/20/48		994,884
	2,196,837	Pool MA5136	3.50%	04/20/48		2,346,559
	2,023,053	Pool MA5399	4.50%	08/20/48		2,176,649
	760,953	Pool MA5466	4.00%	09/20/48		817,079
	216,822	Pool MA5467	4.50%	09/20/48		234,728
	640,590	Pool MA5597	5.00%	11/20/48		698,561
	2,520,301	Pool MA5976	3.50%	06/20/49		2,621,147
	473,389	Pool MA6030	3.50%	07/20/49		492,330
	2,272,012	Pool MA6080	3.00%	08/20/49		2,345,025
	43,000,000	Pool TBA (c)	3.00%	06/15/47		45,522,891

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)
		Pass-through Securities (Continued)
		Government National Mortgage Association (Continued)
$	5,800,000	Pool TBA (c)	2.50%	06/15/50	$	6,102,461
						804,689,147
		Total U.S. Government Agency Mortgage-Backed Securities				845,673,042
		(Cost $830,952,027)
CORPORATE BONDS AND NOTES — 21.5%
		Aerospace/Defense — 0.1%
	100,000	Northrop Grumman Corp.	2.93%	01/15/25		108,489
	1,705,000	Northrop Grumman Corp.	5.25%	05/01/50		2,477,755
						2,586,244
		Agriculture — 0.3%
	280,000	BAT Capital Corp.	4.39%	08/15/37		296,833
	545,000	BAT Capital Corp.	4.54%	08/15/47		581,552
	1,010,000	Reynolds American, Inc.	5.70%	08/15/35		1,205,117
	3,735,000	Reynolds American, Inc.	5.85%	08/15/45		4,532,169
						6,615,671
		Airlines — 0.4%
	1,052,359	American Airlines Pass-Through Trust, Series 2014-1, Class A	3.70%	10/01/26		845,328
	121,582	American Airlines Pass-Through Trust, Series 2015-2, Class AA	3.60%	09/22/27		113,448
	4,165,598	American Airlines Pass-Through Trust, Series 2016-1, Class AA	3.58%	01/15/28		3,868,718
	910,708	Continental Airlines Pass-Through Trust, Series 2007-1, Class A	5.98%	04/19/22		824,355
	123,284	Delta Air Lines Pass-Through Trust, Series 2002-1, Class G1	6.72%	01/02/23		120,218
	5,000,000	Delta Air Lines Pass-Through Trust, Series 2020-1, Class AA	2.00%	06/10/28		4,616,927
	485,167	US Airways Pass-Through Trust, Series 2012-1, Class A	5.90%	10/01/24		414,965
						10,803,959
		Auto Manufacturers — 1.4%
	1,440,000	Daimler Finance North America LLC (d)	2.20%	10/30/21		1,443,935
	1,965,000	Daimler Finance North America LLC, 3 Mo. LIBOR + 0.90% (b) (d)	1.29%	02/15/22		1,896,743
	1,000,000	Ford Motor Credit Co. LLC	3.16%	08/04/20		1,004,200
	885,000	Ford Motor Credit Co. LLC	2.34%	11/02/20		883,124
	2,000,000	Ford Motor Credit Co. LLC	5.09%	01/07/21		1,987,500
	4,190,000	Ford Motor Credit Co. LLC	3.20%	01/15/21		4,136,577
	1,020,000	Ford Motor Credit Co. LLC	5.75%	02/01/21		1,025,100
	3,135,000	Ford Motor Credit Co. LLC, 3 Mo. LIBOR + 0.81% (b)	2.18%	04/05/21		2,974,601
	285,000	Ford Motor Credit Co. LLC, 3 Mo. LIBOR + 0.88% (b)	2.19%	10/12/21		267,866
	3,845,000	Ford Motor Credit Co. LLC	3.81%	10/12/21		3,758,487
	2,916,000	Ford Motor Credit Co. LLC	5.60%	01/07/22		2,923,290
	2,285,000	Ford Motor Credit Co. LLC	3.22%	01/09/22		2,210,737
	390,000	Ford Motor Credit Co. LLC, 3 Mo. LIBOR + 1.27% (b)	2.64%	03/28/22		355,003
	705,000	Ford Motor Credit Co. LLC	3.34%	03/28/22		683,871
	150,000	Ford Motor Credit Co. LLC, 3 Mo. LIBOR + 1.08% (b)	1.64%	08/03/22		136,619
	655,000	Ford Motor Credit Co. LLC	4.25%	09/20/22		640,262
	1,822,000	General Motors Financial Co., Inc.	3.20%	07/06/21		1,823,149
	2,360,000	General Motors Financial Co., Inc.	4.38%	09/25/21		2,374,432
	2,140,000	General Motors Financial Co., Inc.	4.20%	11/06/21		2,172,366
	760,000	General Motors Financial Co., Inc.	3.45%	04/10/22		761,578

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Auto Manufacturers (Continued)
$	2,095,000	General Motors Financial Co., Inc.	3.15%	06/30/22	$	2,090,542
						35,549,982
		Banks — 3.3%
	180,000	Bank of America Corp. (e)	3.00%	12/20/23		188,079
	1,500,000	Bank of America Corp. (e)	2.59%	04/29/31		1,542,125
	210,000	Bank of America Corp., Medium-Term Note (e)	4.27%	07/23/29		243,115
	840,000	Bank of America Corp., Medium-Term Note (e)	2.50%	02/13/31		856,526
	11,095,000	Bank of America Corp., Medium-Term Note (e)	4.08%	03/20/51		13,200,989
	300,000	Bank of New York Mellon (The) Corp., Medium-Term Note (e)	2.66%	05/16/23		310,853
	3,105,000	Bank of New York Mellon (The) Corp., Medium-Term Note	1.60%	04/24/25		3,217,931
	1,000,000	Citigroup, Inc. (e)	3.14%	01/24/23		1,029,224
	1,505,000	Citigroup, Inc.	3.20%	10/21/26		1,608,409
	1,670,000	Citigroup, Inc. (e)	4.41%	03/31/31		1,931,576
	3,605,000	Citigroup, Inc. (e)	2.57%	06/03/31		3,613,509
	2,720,000	Fifth Third Bancorp	2.55%	05/05/27		2,834,694
	1,000,000	Goldman Sachs Group, (The), Inc. (e)	2.88%	10/31/22		1,022,103
	750,000	Goldman Sachs Group, (The), Inc. (e)	2.91%	07/24/23		771,155
	1,950,000	Goldman Sachs Group, (The), Inc. (e)	3.27%	09/29/25		2,062,972
	800,000	Goldman Sachs Group, (The), Inc. (e)	3.69%	06/05/28		877,169
	920,000	Goldman Sachs Group, (The), Inc.	2.60%	02/07/30		931,218
	1,890,000	JPMorgan Chase & Co. (e)	4.02%	12/05/24		2,065,234
	500,000	JPMorgan Chase & Co.	3.90%	07/15/25		561,026
	1,455,000	JPMorgan Chase & Co.	3.20%	06/15/26		1,589,780
	4,055,000	JPMorgan Chase & Co. (e)	4.49%	03/24/31		4,827,397
	2,360,000	JPMorgan Chase & Co. (e)	2.52%	04/22/31		2,414,318
	2,505,000	JPMorgan Chase & Co. (e)	3.11%	04/22/51		2,541,078
	2,145,000	Morgan Stanley, Global Medium-Term Note, SOFR + 0.70% (b)	0.75%	01/20/23		2,104,090
	425,000	Morgan Stanley, Global Medium-Term Note (e)	4.43%	01/23/30		497,380
	5,000,000	Northern Trust Corp.	1.95%	05/01/30		5,146,094
	400,000	PNC Bank N.A.	3.80%	07/25/23		432,818
	690,000	PNC Bank N.A., Bank Note	2.50%	01/22/21		698,178
	250,000	Wells Fargo & Co.	3.00%	10/23/26		267,012
	4,135,000	Wells Fargo & Co. (e)	3.07%	04/30/41		4,208,382
	1,350,000	Wells Fargo & Co., Medium-Term Note (e)	3.58%	05/22/28		1,465,969
	2,895,000	Wells Fargo & Co., Medium-Term Note (e)	2.39%	06/02/28		2,922,946
	5,790,000	Wells Fargo & Co., Medium-Term Note (e)	2.88%	10/30/30		6,020,977
	4,460,000	Wells Fargo & Co., Medium-Term Note (e)	2.57%	02/11/31		4,503,490
	1,500,000	Wells Fargo & Co., Medium-Term Note (e)	5.01%	04/04/51		1,968,801
						80,476,617
		Beverages — 0.3%
	1,500,000	Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc.	4.90%	02/01/46		1,741,926
	635,000	Anheuser-Busch InBev Worldwide, Inc.	4.75%	01/23/29		751,375
	200,000	Anheuser-Busch InBev Worldwide, Inc.	4.44%	10/06/48		219,392
	2,400,000	Anheuser-Busch InBev Worldwide, Inc.	4.50%	06/01/50		2,712,604
	2,000,000	Constellation Brands, Inc.	3.75%	05/01/50		2,081,485
						7,506,782
		Biotechnology — 0.1%
	1,412,000	Amgen, Inc.	4.40%	05/01/45		1,766,804

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Biotechnology (Continued)
$	175,000	Gilead Sciences, Inc.	3.65%	03/01/26	$	198,956
						1,965,760
		Chemicals — 0.2%
	3,744,000	International Flavors & Fragrances, Inc.	5.00%	09/26/48		4,226,623
		Commercial Services — 0.5%
	2,000,000	Brown University in Providence in the State of Rhode Island and Providence Plant, Series A	2.92%	09/01/50		2,078,727
	2,035,000	Duke University, Series 2020	2.83%	10/01/55		2,107,937
	2,055,000	Emory University, Series 2020	2.97%	09/01/50		2,192,920
	2,500,000	RELX Capital, Inc.	3.00%	05/22/30		2,628,872
	950,000	University of (The) Chicago, Series 20B	2.76%	04/01/45		968,117
	1,750,000	William Marsh Rice University	3.77%	05/15/55		2,145,302
						12,121,875
		Computers — 0.1%
	1,500,000	Apple, Inc.	2.65%	05/11/50		1,556,894
	1,020,000	Dell International LLC / EMC Corp. (d)	4.42%	06/15/21		1,039,309
						2,596,203
		Diversified Financial Services — 0.4%
	1,485,000	Air Lease Corp.	3.50%	01/15/22		1,421,773
	1,890,000	Air Lease Corp.	3.25%	03/01/25		1,731,857
	360,000	Air Lease Corp., Medium-Term Note	2.30%	02/01/25		314,373
	2,010,000	GE Capital Funding LLC (d)	4.40%	05/15/30		2,085,976
	2,200,000	Intercontinental Exchange, Inc.	3.00%	06/15/50		2,222,352
	1,050,000	Mastercard, Inc.	3.85%	03/26/50		1,348,547
	450,000	Raymond James Financial, Inc.	4.95%	07/15/46		521,684
						9,646,562
		Electric — 1.6%
	200,000	Ameren Illinois Co.	3.70%	12/01/47		228,700
	3,000,000	Appalachian Power Co., Series Z	3.70%	05/01/50		3,274,766
	5,000,000	Arizona Public Service Co.	3.35%	05/15/50		5,150,945
	750,000	Cleco Power LLC	6.00%	12/01/40		952,386
	500,000	Consolidated Edison Co. of New York, Inc.	4.50%	05/15/58		623,547
	1,695,000	Dominion Energy, Inc., Series A	3.30%	03/15/25		1,830,215
	155,000	Duke Energy Carolinas LLC	3.70%	12/01/47		179,705
	700,000	Duke Energy Progress LLC	3.25%	08/15/25		779,239
	750,000	Duquesne Light Holdings, Inc. (d)	6.40%	09/15/20		762,179
	3,849,000	Duquesne Light Holdings, Inc. (d)	5.90%	12/01/21		4,039,196
	750,000	Entergy Texas, Inc.	3.45%	12/01/27		811,528
	1,000,000	Evergy Metro, Inc.	3.65%	08/15/25		1,103,008
	1,250,000	Interstate Power and Light Co.	3.25%	12/01/24		1,355,761
	4,855,000	Interstate Power and Light Co.	2.30%	06/01/30		4,914,574
	3,000,000	ITC Holdings Corp. (d)	2.95%	05/14/30		3,160,676
	400,000	LG&E and KU Energy LLC	3.75%	11/15/20		401,924
	830,000	Metropolitan Edison Co. (d)	4.00%	04/15/25		927,597
	2,253,000	Metropolitan Edison Co. (d)	4.30%	01/15/29		2,622,027
	900,000	NextEra Energy Capital Holdings, Inc., 3 Mo. LIBOR + 0.55% (b)	0.92%	08/28/21		900,068
	1,150,000	PNM Resources, Inc.	3.25%	03/09/21		1,161,723
	825,000	Public Service Co. of New Mexico	3.85%	08/01/25		921,203
	300,000	Southwestern Electric Power Co.	3.55%	02/15/22		310,007

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Electric (Continued)
$	700,000	Trans-Allegheny Interstate Line Co. (d)	3.85%	06/01/25	$	777,431
	750,000	Tucson Electric Power Co.	5.15%	11/15/21		782,221
	355,000	Virginia Electric and Power Co.	4.60%	12/01/48		464,618
						38,435,244
		Engineering & Construction — 0.1%
	1,900,000	PowerTeam Services LLC (d)	9.03%	12/04/25		1,931,217
		Entertainment — 0.1%
	1,447,000	Churchill Downs, Inc. (d)	5.50%	04/01/27		1,459,393
	740,000	Churchill Downs, Inc. (d)	4.75%	01/15/28		713,963
	488,000	Live Nation Entertainment, Inc. (d)	4.75%	10/15/27		453,750
						2,627,106
		Environmental Control — 0.2%
	260,000	Clean Harbors, Inc. (d)	5.13%	07/15/29		274,024
	150,000	Republic Services, Inc.	2.90%	07/01/26		162,828
	2,835,000	Waste Management, Inc.	4.00%	07/15/39		3,247,138
	1,122,000	Waste Pro USA, Inc. (d)	5.50%	02/15/26		1,112,379
						4,796,369
		Food — 0.6%
	1,000,000	Campbell Soup Co., 3 Mo. LIBOR + 0.63% (b)	1.37%	03/15/21		998,246
	1,500,000	Kraft Heinz Foods Co.	5.00%	07/15/35		1,618,041
	2,405,000	Kraft Heinz Foods Co.	5.00%	06/04/42		2,480,915
	2,635,000	Kraft Heinz Foods Co.	5.20%	07/15/45		2,713,852
	3,845,000	Kraft Heinz Foods Co.	4.38%	06/01/46		3,641,793
	2,755,000	Kraft Heinz Foods Co. (d)	4.88%	10/01/49		2,747,066
	97,000	Kroger (The) Co.	5.40%	01/15/49		130,681
	20,000	Lamb Weston Holdings, Inc. (d)	4.63%	11/01/24		20,904
	589,000	Pilgrim’s Pride Corp. (d)	5.88%	09/30/27		613,923
	840,000	Post Holdings, Inc. (d)	4.63%	04/15/30		831,075
						15,796,496
		Forest Products and Paper — 0.1%
	2,200,000	Georgia-Pacific LLC (d)	2.30%	04/30/30		2,253,447
		Gas — 0.1%
	500,000	Piedmont Natural Gas Co., Inc.	3.35%	06/01/50		527,795
	500,000	Southern Co. Gas Capital Corp.	2.45%	10/01/23		521,906
	400,000	Southern Co. Gas Capital Corp.	5.88%	03/15/41		521,026
	200,000	Spire, Inc.	3.54%	02/27/24		208,428
						1,779,155
		Healthcare-Products — 0.4%
	2,390,000	Alcon Finance Corp. (d)	2.75%	09/23/26		2,530,086
	1,500,000	Alcon Finance Corp. (d)	2.60%	05/27/30		1,520,790
	300,000	Boston Scientific Corp.	3.45%	03/01/24		321,276
	3,015,000	DENTSPLY SIRONA, Inc.	3.25%	06/01/30		3,094,485
	180,000	Teleflex, Inc.	4.63%	11/15/27		188,133
	1,180,000	Zimmer Biomet Holdings, Inc.	3.55%	03/20/30		1,252,849
						8,907,619
		Healthcare-Services — 1.3%
	1,300,000	Advocate Health & Hospitals Corp., Series 2020	3.01%	06/15/50		1,318,581
	150,000	Anthem, Inc.	3.30%	01/15/23		159,319

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Healthcare-Services (Continued)
$	120,000	Anthem, Inc.	3.65%	12/01/27	$	136,011
	2,300,000	Anthem, Inc.	2.88%	09/15/29		2,489,557
	2,485,000	Banner Health, Series 2020	3.18%	01/01/50		2,576,140
	200,000	Centene Corp. (d)	5.38%	08/15/26		212,220
	1,800,000	Centene Corp.	4.63%	12/15/29		1,945,998
	526,000	Centene Corp.	3.38%	02/15/30		533,398
	418,000	Encompass Health Corp.	4.75%	02/01/30		425,058
	1,428,000	HCA, Inc.	4.75%	05/01/23		1,546,041
	2,315,000	HCA, Inc.	5.00%	03/15/24		2,551,388
	400,000	HCA, Inc.	5.13%	06/15/39		467,307
	1,540,000	HCA, Inc.	5.25%	06/15/49		1,819,445
	500,000	Humana, Inc.	3.15%	12/01/22		524,256
	360,000	Humana, Inc.	2.90%	12/15/22		377,449
	475,000	Humana, Inc.	3.95%	08/15/49		551,128
	2,000,000	Molina Healthcare, Inc. (d)	4.38%	06/15/28		2,025,000
	200,000	New York and Presbyterian (The) Hospital	3.56%	08/01/36		209,222
	3,230,000	NYU Langone Hospitals, Series 2020	3.38%	07/01/55		3,040,697
	650,000	Partners Healthcare System, Inc., Series 2020	3.34%	07/01/60		678,714
	1,509,000	Stanford Health Care, Series 2018	3.80%	11/15/48		1,779,797
	101,000	Tenet Healthcare Corp.	4.63%	07/15/24		102,526
	1,213,000	Tenet Healthcare Corp. (d)	4.88%	01/01/26		1,248,510
	1,350,000	Tenet Healthcare Corp. (d)	5.13%	11/01/27		1,399,363
	1,440,000	UnitedHealth Group, Inc.	3.75%	07/15/25		1,648,544
	160,000	UnitedHealth Group, Inc.	4.45%	12/15/48		210,585
	605,000	UnitedHealth Group, Inc.	3.70%	08/15/49		717,033
	1,185,000	UnitedHealth Group, Inc.	2.90%	05/15/50		1,236,634
	725,000	UnitedHealth Group, Inc.	3.88%	08/15/59		876,763
						32,806,684
		Household Products/Wares — 0.0%
	245,000	Spectrum Brands, Inc.	5.75%	07/15/25		252,912
		Insurance — 1.1%
	3,050,000	Aon Corp.	2.80%	05/15/30		3,218,905
	1,465,000	Berkshire Hathaway Finance Corp.	4.20%	08/15/48		1,832,220
	700,000	Farmers Exchange Capital III (d) (e)	5.45%	10/15/54		804,779
	600,000	Farmers Insurance Exchange (d)	8.63%	05/01/24		739,193
	3,495,000	Farmers Insurance Exchange (d) (e)	4.75%	11/01/57		3,545,652
	2,950,000	Marsh & McLennan Cos., Inc.	2.25%	11/15/30		3,000,482
	1,800,000	Massachusetts Mutual Life Insurance Co. (d)	3.38%	04/15/50		1,841,546
	1,635,000	Metropolitan Life Global Funding I (d)	2.95%	04/09/30		1,768,062
	400,000	Nationwide Mutual Insurance Co., 3 Mo. LIBOR + 2.29% (b) (d)	3.03%	12/15/24		395,117
	2,785,000	New York Life Insurance Co. (d)	3.75%	05/15/50		3,142,455
	620,000	Pricoa Global Funding I (d)	3.45%	09/01/23		666,254
	3,770,000	Teachers Insurance & Annuity Association of America (d)	3.30%	05/15/50		3,850,023
	240,000	Teachers Insurance & Annuity Association of America (d) (e)	4.38%	09/15/54		252,201
	2,055,000	Willis North America, Inc.	2.95%	09/15/29		2,121,567
						27,178,456
		Media — 1.0%
	633,000	CCO Holdings LLC / CCO Holdings Capital Corp. (d)	5.38%	06/01/29		683,523
	1,003,000	CCO Holdings LLC / CCO Holdings Capital Corp. (d)	4.50%	08/15/30		1,042,965
	2,475,000	Charter Communications Operating LLC / Charter Communications Operating Capital	4.91%	07/23/25		2,831,781

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Media (Continued)
$	1,471,000	Charter Communications Operating LLC / Charter Communications Operating Capital	5.38%	04/01/38	$	1,759,740
	100,000	Comcast Corp.	3.97%	11/01/47		118,589
	850,000	CSC Holdings LLC (d)	6.63%	10/15/25		891,195
	345,000	CSC Holdings LLC (d)	5.38%	02/01/28		367,780
	34,000	CSC Holdings LLC (d)	6.50%	02/01/29		37,615
	1,650,000	Time Warner Cable LLC	5.88%	11/15/40		2,034,849
	2,450,000	Time Warner Cable LLC	5.50%	09/01/41		2,903,899
	300,000	ViacomCBS, Inc.	3.70%	08/15/24		317,037
	200,000	ViacomCBS, Inc.	3.70%	06/01/28		208,206
	2,000,000	ViacomCBS, Inc.	4.95%	05/19/50		2,065,588
	2,040,000	Walt Disney (The) Co.	2.65%	01/13/31		2,175,636
	5,770,000	Walt Disney (The) Co.	3.60%	01/13/51		6,429,149
						23,867,552
		Miscellaneous Manufacturing — 0.3%
	1,000,000	General Electric Co., Global Medium-Term Note	6.88%	01/10/39		1,205,179
	1,000,000	General Electric Co., Medium-Term Note, 3 Mo. LIBOR + 0.38% (b)	0.92%	05/05/26		854,072
	2,775,000	General Electric Co., Medium-Term Note	6.75%	03/15/32		3,327,390
	1,395,000	General Electric Co., Medium-Term Note	5.88%	01/14/38		1,560,449
						6,947,090
		Oil & Gas — 0.6%
	273,000	Antero Resources Corp.	5.13%	12/01/22		191,707
	665,000	Antero Resources Corp.	5.00%	03/01/25		374,478
	2,435,000	BP Capital Markets America, Inc.	3.63%	04/06/30		2,737,131
	3,000,000	Chevron Corp.	2.24%	05/11/30		3,156,170
	33,000	Endeavor Energy Resources L.P. / EER Finance, Inc. (d)	5.75%	01/30/28		32,293
	1,770,000	EQT Corp.	3.90%	10/01/27		1,558,706
	1,450,000	Exxon Mobil Corp.	2.61%	10/15/30		1,540,945
	635,000	Exxon Mobil Corp.	4.23%	03/19/40		775,543
	3,180,000	Exxon Mobil Corp.	4.33%	03/19/50		3,988,460
	1,105,000	Exxon Mobil Corp.	3.45%	04/15/51		1,223,199
	7,000	Gulfport Energy Corp.	6.38%	05/15/25		3,526
	400,000	Hess Corp.	5.60%	02/15/41		398,393
						15,980,551
		Oil & Gas Services — 0.1%
	1,510,000	USA Compression Partners L.P. / USA Compression Finance Corp.	6.88%	04/01/26		1,456,908
		Packaging & Containers — 0.2%
	650,000	Amcor Finance USA, Inc.	4.50%	05/15/28		699,020
	221,000	Berry Global, Inc. (d)	4.88%	07/15/26		231,533
	50,000	Graphic Packaging International LLC	4.88%	11/15/22		51,801
	3,150,000	Graphic Packaging International LLC (d)	4.75%	07/15/27		3,310,839
	240,000	Matthews International Corp. (d)	5.25%	12/01/25		218,075
	140,000	Mauser Packaging Solutions Holding Co. (d)	5.50%	04/15/24		139,386
	300,000	Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu, 3 Mo. LIBOR + 3.50% (b) (d)	4.72%	07/15/21		298,594
	140,000	Sealed Air Corp. (d)	4.00%	12/01/27		141,138
	355,000	WRKCo, Inc.	4.90%	03/15/29		409,292
						5,499,678

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Pharmaceuticals — 2.1%
$	1,550,000	AbbVie, Inc. (d)	3.80%	03/15/25	$	1,712,198
	690,000	AbbVie, Inc. (d)	4.05%	11/21/39		773,181
	4,150,000	AbbVie, Inc.	4.40%	11/06/42		4,793,623
	1,870,000	AbbVie, Inc.	4.45%	05/14/46		2,172,128
	450,000	AbbVie, Inc.	4.88%	11/14/48		562,216
	1,825,000	AbbVie, Inc. (d)	4.25%	11/21/49		2,115,029
	1,895,000	Bayer US Finance II LLC (d)	3.88%	12/15/23		2,046,261
	1,045,000	Bayer US Finance II LLC (d)	3.38%	07/15/24		1,115,480
	2,085,000	Bayer US Finance II LLC (d)	4.25%	12/15/25		2,337,090
	3,160,000	Bayer US Finance II LLC (d)	4.38%	12/15/28		3,629,624
	815,000	Bayer US Finance II LLC (d)	4.63%	06/25/38		966,391
	425,000	Bayer US Finance II LLC (d)	4.40%	07/15/44		511,003
	2,540,000	Bayer US Finance II LLC (d)	4.88%	06/25/48		3,216,196
	460,000	Bayer US Finance LLC (d)	3.38%	10/08/24		492,831
	300,000	Becton Dickinson and Co.	3.25%	11/12/20		302,820
	1,000,000	Becton Dickinson and Co.	2.89%	06/06/22		1,039,159
	3,385,000	Becton Dickinson and Co.	3.36%	06/06/24		3,655,255
	1,000,000	Becton Dickinson and Co.	6.70%	08/01/28		1,245,242
	2,000,000	Cigna Corp. (d)	3.40%	03/01/27		2,197,877
	75,000	Cigna Corp. (d)	3.05%	10/15/27		80,678
	4,204,000	Cigna Corp.	2.40%	03/15/30		4,348,749
	1,030,000	Cigna Corp. (d)	3.88%	10/15/47		1,166,792
	2,129,000	Cigna Corp.	4.90%	12/15/48		2,801,212
	150,000	CVS Health Corp.	3.88%	07/20/25		166,913
	1,850,000	CVS Health Corp.	5.13%	07/20/45		2,355,245
	4,775,000	CVS Health Corp.	5.05%	03/25/48		6,144,368
	535,000	Elanco Animal Health, Inc.	5.02%	08/28/23		567,645
	75,000	Johnson & Johnson	3.63%	03/03/37		89,868
						52,605,074
		Pipelines — 1.1%
	140,000	Cheniere Energy Partners L.P.	5.25%	10/01/25		142,365
	145,000	Energy Transfer Operating L.P.	5.20%	02/01/22		151,115
	198,000	Energy Transfer Operating L.P.	5.50%	06/01/27		214,870
	1,030,000	Energy Transfer Operating L.P.	4.95%	06/15/28		1,086,939
	315,000	Energy Transfer Operating L.P.	3.75%	05/15/30		311,628
	260,000	Energy Transfer Operating L.P.	5.15%	03/15/45		250,757
	2,850,000	Energy Transfer Operating L.P.	5.00%	05/15/50		2,744,182
	785,000	Kinder Morgan Energy Partners L.P.	5.80%	03/15/35		958,192
	650,000	Kinder Morgan, Inc.	5.30%	12/01/34		749,261
	55,000	NGPL PipeCo LLC (d)	4.38%	08/15/22		56,057
	2,405,000	NGPL PipeCo LLC (d)	4.88%	08/15/27		2,620,589
	276,390	Pipeline Funding Co. LLC (d)	7.50%	01/15/30		325,494
	150,000	Plains All American Pipeline L.P. / PAA Finance Corp.	2.85%	01/31/23		145,321
	200,000	Plains All American Pipeline L.P. / PAA Finance Corp.	3.85%	10/15/23		201,472
	50,000	Plains All American Pipeline L.P. / PAA Finance Corp.	4.65%	10/15/25		51,093
	650,000	Plains All American Pipeline L.P. / PAA Finance Corp.	4.50%	12/15/26		660,261
	425,000	Plains All American Pipeline L.P. / PAA Finance Corp.	3.55%	12/15/29		403,227
	1,500,000	Rockies Express Pipeline LLC (d)	4.80%	05/15/30		1,384,200
	1,360,000	Rockies Express Pipeline LLC (d)	6.88%	04/15/40		1,323,688
	390,682	Ruby Pipeline LLC (d)	7.00%	04/01/22		365,816
	325,000	Sabine Pass Liquefaction LLC	5.63%	03/01/25		362,960
	1,000,000	Sabine Pass Liquefaction LLC	5.00%	03/15/27		1,111,639

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Pipelines (Continued)
$	2,000,000	Sabine Pass Liquefaction LLC	4.20%	03/15/28	$	2,109,672
	3,000,000	Sabine Pass Liquefaction LLC (d)	4.50%	05/15/30		3,296,517
	1,200,000	Spectra Energy Partners L.P.	4.60%	06/15/21		1,240,624
	400,000	Sunoco Logistics Partners Operations L.P.	3.90%	07/15/26		403,851
	1,606,000	Sunoco Logistics Partners Operations L.P.	5.40%	10/01/47		1,601,291
	145,000	TC PipeLines L.P.	4.65%	06/15/21		147,644
	1,000,000	TC PipeLines L.P.	4.38%	03/13/25		1,058,271
	1,250,000	TC PipeLines L.P.	3.90%	05/25/27		1,281,876
	400,000	Williams Cos (The), Inc.	4.50%	11/15/23		430,223
	600,000	Williams Cos (The), Inc.	4.55%	06/24/24		652,121
	500,000	Williams Cos (The), Inc.	5.10%	09/15/45		560,801
						28,404,017
		Real Estate Investment Trusts — 1.2%
	250,000	Alexandria Real Estate Equities, Inc.	4.30%	01/15/26		278,654
	612,000	Alexandria Real Estate Equities, Inc.	4.50%	07/30/29		707,829
	800,000	American Campus Communities Operating Partnership L.P.	4.13%	07/01/24		795,297
	250,000	American Campus Communities Operating Partnership L.P.	3.63%	11/15/27		236,271
	215,000	American Tower Corp.	3.00%	06/15/23		227,503
	785,000	Boston Properties L.P.	3.20%	01/15/25		824,721
	1,945,000	Boston Properties L.P.	3.25%	01/30/31		2,035,791
	625,000	CC Holdings GS V LLC / Crown Castle GS III Corp.	3.85%	04/15/23		670,277
	750,000	CubeSmart L.P.	4.38%	02/15/29		818,448
	3,425,000	CyrusOne L.P. / CyrusOne Finance Corp.	2.90%	11/15/24		3,450,807
	500,000	Digital Realty Trust L.P.	3.63%	10/01/22		519,365
	2,210,000	GLP Capital L.P. / GLP Financing II, Inc.	3.35%	09/01/24		2,046,449
	1,000,000	GLP Capital L.P. / GLP Financing II, Inc.	5.25%	06/01/25		1,007,630
	750,000	GLP Capital L.P. / GLP Financing II, Inc.	5.38%	04/15/26		751,736
	1,210,000	GLP Capital L.P. / GLP Financing II, Inc.	5.30%	01/15/29		1,165,115
	475,000	GLP Capital L.P. / GLP Financing II, Inc.	4.00%	01/15/30		415,817
	1,175,000	Healthcare Realty Trust, Inc.	3.75%	04/15/23		1,180,890
	2,000,000	Healthcare Trust of America Holdings L.P.	3.10%	02/15/30		1,905,060
	399,000	Healthpeak Properties, Inc.	4.25%	11/15/23		419,696
	475,000	Healthpeak Properties, Inc.	3.88%	08/15/24		507,511
	600,000	Healthpeak Properties, Inc.	3.25%	07/15/26		610,253
	1,000,000	Healthpeak Properties, Inc.	3.00%	01/15/30		973,204
	1,000,000	Hudson Pacific Properties L.P.	4.65%	04/01/29		1,027,062
	1,000,000	Kilroy Realty L.P.	3.45%	12/15/24		1,003,157
	1,300,000	Kimco Realty Corp.	3.40%	11/01/22		1,343,291
	200,000	Life Storage L.P.	3.88%	12/15/27		208,024
	40,000	MGM Growth Properties Operating Partnership L.P. / MGP Finance Co.-Issuer, Inc.	5.63%	05/01/24		41,704
	80,000	MGM Growth Properties Operating Partnership L.P. / MGP Finance Co.-Issuer, Inc.	4.50%	01/15/28		77,885
	176,000	National Retail Properties, Inc.	3.30%	04/15/23		180,679
	350,000	Piedmont Operating Partnership L.P.	3.40%	06/01/23		345,496
	750,000	Prologis L.P.	4.38%	02/01/29		885,328
	22,000	SBA Communications Corp.	4.88%	09/01/24		22,749
	300,000	SL Green Operating Partnership L.P.	3.25%	10/15/22		295,081
	550,000	SL Green Realty Corp.	4.50%	12/01/22		557,314
	1,000,000	Ventas Realty L.P.	2.65%	01/15/25		955,242
	400,000	Ventas Realty L.P.	3.85%	04/01/27		395,977
	550,000	WEA Finance LLC (d)	3.15%	04/05/22		550,181

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Real Estate Investment Trusts (Continued)
$	75,000	Welltower, Inc.	4.50%	01/15/24	$	78,849
	1,125,000	Welltower, Inc.	4.00%	06/01/25		1,176,586
						30,692,929
		Retail — 0.2%
	770,000	McDonald’s Corp., Medium-Term Note	3.63%	09/01/49		846,683
	488,000	Rite Aid Corp. (d)	6.13%	04/01/23		455,365
	1,760,000	Starbucks Corp.	2.25%	03/12/30		1,777,783
	500,000	Walgreens Boots Alliance, Inc.	3.30%	11/18/21		514,809
	150,000	Walgreens Boots Alliance, Inc.	3.80%	11/18/24		162,079
						3,756,719
		Semiconductors — 0.5%
	2,880,000	Broadcom Corp. / Broadcom Cayman Finance Ltd.	3.63%	01/15/24		3,033,627
	935,000	Broadcom, Inc. (d)	3.63%	10/15/24		993,655
	5,400,000	Intel Corp.	4.75%	03/25/50		7,411,520
						11,438,802
		Software — 0.1%
	140,000	Change Healthcare Holdings LLC / Change Healthcare Finance, Inc. (d)	5.75%	03/01/25		140,235
	1,400,000	Fiserv, Inc.	3.20%	07/01/26		1,527,684
	510,000	Fiserv, Inc.	2.65%	06/01/30		527,984
	585,000	SS&C Technologies, Inc. (d)	5.50%	09/30/27		615,803
						2,811,706
		Telecommunications — 1.4%
	1,025,000	AT&T, Inc.	4.30%	02/15/30		1,168,016
	3,175,000	AT&T, Inc.	4.50%	05/15/35		3,580,079
	1,000,000	AT&T, Inc.	5.25%	03/01/37		1,225,190
	1,640,000	AT&T, Inc.	4.30%	12/15/42		1,819,588
	1,947,000	AT&T, Inc.	4.80%	06/15/44		2,251,978
	3,645,000	AT&T, Inc.	4.75%	05/15/46		4,255,679
	500,000	AT&T, Inc.	5.15%	11/15/46		613,043
	215,000	Level 3 Financing, Inc.	5.38%	01/15/24		218,471
	1,480,000	Level 3 Financing, Inc. (d)	3.40%	03/01/27		1,503,747
	140,000	Level 3 Financing, Inc. (d)	4.63%	09/15/27		143,795
	185,000	Qwest Corp.	7.25%	09/15/25		207,548
	1,000,000	SES GLOBAL Americas Holdings G.P. (d)	5.30%	03/25/44		955,289
	128,000	Sprint Corp.	7.88%	09/15/23		145,613
	1,216,875	Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC (d)	3.36%	09/20/21		1,224,097
	2,835,000	Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC (d)	4.74%	03/20/25		3,015,434
	4,030,000	Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC (d)	5.15%	03/20/28		4,509,328
	1,423,000	T-Mobile USA, Inc. (d)	3.88%	04/15/30		1,547,128
	2,845,000	T-Mobile USA, Inc. (d)	4.38%	04/15/40		3,156,309
	1,150,000	Verizon Communications, Inc.	4.13%	03/16/27		1,342,535
	1,000,000	Verizon Communications, Inc.	4.33%	09/21/28		1,194,531
	1,150,000	Verizon Communications, Inc.	3.15%	03/22/30		1,278,137
						35,355,535

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Transportation — 0.0%
$	270,000	Union Pacific Corp.	3.95%	09/10/28	$	313,847
		Total Corporate Bonds and Notes				529,991,391
		(Cost $506,480,052)
U.S. GOVERNMENT BONDS AND NOTES — 18.4%
	38,895,000	U.S. Treasury Bond	2.00%	02/15/50		44,596,308
	34,730,000	U.S. Treasury Bond	1.25%	05/15/50		33,430,338
	20,594,868	U.S. Treasury Inflation Indexed Bond (f)	0.25%	02/15/50		22,538,346
	13,636,131	U.S. Treasury Inflation Indexed Note (f)	0.13%	04/15/25		14,078,217
	17,958,833	U.S. Treasury Inflation Indexed Note (f)	0.25%	07/15/29		19,247,029
	65,658,000	U.S. Treasury Note	0.13%	05/31/22		65,620,811
	201,340,000	U.S. Treasury Note	0.38%	04/30/25		202,008,511
	28,815,000	U.S. Treasury Note	0.25%	05/31/25		28,742,963
	24,640,000	U.S. Treasury Note	0.63%	05/15/30		24,590,912
		Total U.S. Government Bonds and Notes				454,853,435
		(Cost $448,781,650)
ASSET-BACKED SECURITIES — 6.5%
		ACE Securities Corp. Home Equity Loan Trust
	13,345,814	Series 2007-HE1, Class A1, 1 Mo. LIBOR + 0.15% (b)	0.32%	01/25/37		8,754,325
		Ajax Mortgage Loan Trust
	5,395,963	Series 2019-F, Class A1, steps up to 3.86% after Redemption Date (d) (g)	2.86%	07/25/59		5,462,629
		Ammc CLO 19 Ltd.
	4,675,000	Series 2016-19A, Class AR, 3 Mo. LIBOR + 1.14% (b) (d)	2.36%	10/16/28		4,604,897
		Argent Securities, Inc.
	255,000	Series 2005-W2, Class M1, 1 Mo. LIBOR + 0.49% (b)	0.66%	10/25/35		247,610
		Asset Backed Funding Certificates Trust
	94,869	Series 2006-OPT1, Class A2, 1 Mo. LIBOR + 0.14% (b)	0.31%	09/25/36		93,197
		Barings CLO Ltd.
	378,209	Series 2013-IA, Class AR, 3 Mo. LIBOR + 0.80% (b) (d)	1.94%	01/20/28		374,009
	767,000	Series 2016-2A, Class AR, 3 Mo. LIBOR + 1.08% (b) (d)	2.22%	07/20/28		757,360
		BlueMountain CLO Ltd.
	547,819	Series 2013-2A, Class A1R, 3 Mo. LIBOR + 1.18% (b) (d)	2.28%	10/22/30		539,289
		Brazos Higher Education Authority, Inc.
	270,000	Series 2011-1, Class A3, 3 Mo. LIBOR + 1.05% (b)	1.41%	11/25/33		260,816
	300,000	Series 2011-2, Class A3, 3 Mo. LIBOR + 1.00% (b)	1.99%	10/27/36		289,904
		Carrington Mortgage Loan Trust
	1,470,000	Series 2006-OPT1, Class M1, 1 Mo. LIBOR + 0.35% (b)	0.52%	02/25/36		1,426,385
		Citigroup Mortgage Loan Trust
	1,600,000	Series 2006-HE2, Class M1, 1 Mo. LIBOR + 0.29% (b)	0.46%	08/25/36		1,557,450
		Dryden Senior Loan Fund
	900,000	Series 2013-26A, Class AR, 3 Mo. LIBOR + 0.90% (b) (d)	2.12%	04/15/29		883,988
	572,000	Series 2013-28A, Class A1LR, 3 Mo. LIBOR + 1.20% (b) (d)	1.59%	08/15/30		562,875
		ECMC Group Student Loan Trust
	1,725,218	Series 2017-2A, Class A, 1 Mo. LIBOR + 1.05% (b) (d)	1.22%	05/25/67		1,673,685

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
ASSET-BACKED SECURITIES (Continued)
		EFS Volunteer No 3 LLC
$	158,939	Series 2012-1, Class A3, 1 Mo. LIBOR + 1.00% (b) (d)	1.17%	04/25/33	$	156,426
		First Franklin Mortgage Loan Trust
	269,942	Series 2006-FF13, Class A2C, 1 Mo. LIBOR + 0.16% (b)	0.33%	10/25/36		194,255
	16,237,060	Series 2007-FF2, Class A1, 1 Mo. LIBOR + 0.14% (b)	0.31%	03/25/37		10,833,047
		GE-WMC Mortgage Securities LLC
	1,009,549	Series 2005-1, Class M1, 1 Mo. LIBOR + 0.66% (b)	0.83%	10/25/35		990,132
		Goal Capital Funding Trust
	5,100,000	Series 2007-1, Class A5, 3 Mo. LIBOR + 0.16% (b)	1.38%	03/25/42		4,351,251
		GoldenTree Loan Management US CLO Ltd.
	4,227,000	Series 2017-1A, Class AR, 3 Mo. LIBOR + 0.95% (b) (d)	2.09%	04/20/29		4,164,648
		GSAA Home Equity Trust
	1,700,000	Series 2005-6, Class M1, 1 Mo. LIBOR + 0.43% (b)	0.60%	06/25/35		1,658,280
		JP Morgan Mortgage Acquisition Trust
	187,557	Series 2006-ACC1, Class M1, 1 Mo. LIBOR + 0.27% (b)	0.44%	05/25/36		185,498
	2,658,862	Series 2006-WF1, Class A6, steps up to 6.50% after Redemption Date (g)	6.00%	07/25/36		1,231,117
	17,129,022	Series 2006-WMC2, Class A4, 1 Mo. LIBOR + 0.15% (b)	0.32%	07/25/36		9,712,291
	8,739,297	Series 2006-WMC2, Class A5, 1 Mo. LIBOR + 0.25% (b)	0.42%	07/25/36		5,076,280
	405,000	Series 2007-CH2, Class MV1, 1 Mo. LIBOR + 0.28% (b)	0.45%	01/25/37		381,289
		Legacy Mortgage Asset Trust
	4,083,088	Series 2019-GS1, Class A1 (b) (d)	4.00%	01/25/59		4,133,402
	2,253,080	Series 2019-GS4, Class A1 (b) (d)	3.44%	05/25/59		2,234,962
		Lehman XS Trust
	4,778,232	Series 2006-9, Class A1C, 1 Mo. LIBOR + 0.26% (b)	0.43%	05/25/46		4,173,403
		Long Beach Mortgage Loan Trust
	873,081	Series 2006-1, Class 1A, 1 Mo. LIBOR + 0.22% (b)	0.39%	02/25/36		832,142
		Magnetite VII Ltd.
	4,691,000	Series 2012-7A, Class A1R2, 3 Mo. LIBOR + 0.80% (b) (d)	2.02%	01/15/28		4,599,024
		Magnetite CLO Ltd.
	800,000	Series 2019-21A, Class A, 3 Mo. LIBOR + 1.28% (b) (d)	2.42%	04/20/30		787,536
		Mastr Asset Backed Securities Trust
	8,496,933	Series 2006-WMC3, Class A2, 1 Mo. LIBOR + 0.05% (b)	0.22%	08/25/36		3,578,392
		Merrill Lynch First Franklin Mortgage Loan Trust
	380,150	Series 2007-3, Class A2B, 1 Mo. LIBOR + 0.13% (b)	0.30%	06/25/37		295,346
		Mid-State Trust
	195,976	Series 2003-11, Class A1	4.86%	07/15/38		208,475
		Morgan Stanley ABS Capital I, Inc. Trust
	6,773,629	Series 2006-HE8, Class A2B, 1 Mo. LIBOR + 0.10% (b)	0.27%	10/25/36		3,442,712
	1,000,000	Series 2006-NC1, Class M1, 1 Mo. LIBOR + 0.38% (b)	0.55%	12/25/35		971,655
	7,566,527	Series 2007-HE1, Class A2D, 1 Mo. LIBOR + 0.23% (b)	0.40%	11/25/36		5,076,438
		Navient Student Loan Trust
	292,443	Series 2014-1, Class A3, 1 Mo. LIBOR + 0.51% (b)	0.68%	06/25/31		280,338
	240,670	Series 2014-3, Class A, 1 Mo. LIBOR + 0.62% (b)	0.79%	03/25/83		228,065
	75,258	Series 2014-5, Class A, 1 Mo. LIBOR + 0.62% (b)	0.79%	03/25/83		71,913
	139,956	Series 2014-8, Class A3, 1 Mo. LIBOR + 0.60% (b)	0.77%	05/27/49		135,064
	199,195	Series 2015-1, Class A2, 1 Mo. LIBOR + 0.60% (b)	0.77%	04/25/40		189,684
	1,750,000	Series 2016-2A, Class A3, 1 Mo. LIBOR + 1.50% (b) (d)	1.67%	06/25/65		1,737,860
	4,050,511	Series 2016-5A, Class A, 1 Mo. LIBOR + 1.25% (b) (d)	1.42%	06/25/65		3,928,627
	300,000	Series 2017-3A, Class A3, 1 Mo. LIBOR + 1.05% (b) (d)	1.22%	07/26/66		289,331
	3,678,084	Series 2017-5A, Class A, 1 Mo. LIBOR + 0.80% (b) (d)	0.97%	07/26/66		3,479,314
		New Century Home Equity Loan Trust
	2,600,000	Series 2005-4, Class M3, 1 Mo. LIBOR + 0.55% (b)	0.72%	09/25/35		2,517,338

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
ASSET-BACKED SECURITIES (Continued)
		Palmer Square Loan Funding Ltd.
$	213,829	Series 2019-1A, Class A1, 3 Mo. LIBOR + 1.05% (b) (d)	2.19%	04/20/27	$	210,832
	1,909,874	Series 2019-4A, Class A1, 3 Mo. LIBOR + 0.90% (b) (d)	1.92%	10/24/27		1,878,500
		Residential Asset Mortgage Products, Inc.
	195,323	Series 2006-RZ1, Class M2, 1 Mo. LIBOR + 0.42% (b)	0.59%	03/25/36		194,793
	2,000,000	Series 2006-RZ1, Class M3, 1 Mo. LIBOR + 0.45% (b)	0.62%	03/25/36		1,955,754
		Residential Asset Securities Corp.
	260,000	Series 2006-EMX3, Class A3, 1 Mo. LIBOR + 0.28% (b)	0.45%	04/25/36		249,954
	1,445,000	Series 2006-KS3, Class M1, 1 Mo. LIBOR + 0.33% (b)	0.50%	04/25/36		1,361,085
	11,791	Series 2006-KS4, Class A4, 1 Mo. LIBOR + 0.24% (b)	0.41%	06/25/36		11,806
		Saxon Asset Securities Trust
	749,482	Series 2007-2, Class A2C, 1 Mo. LIBOR + 0.24% (b)	0.41%	05/25/47		613,491
		Securitized Asset-Backed Receivables LLC Trust
	192,277	Series 2006-OP1, Class M2, 1 Mo. LIBOR + 0.39% (b)	0.56%	10/25/35		189,821
		SLC Student Loan Trust
	400,000	Series 2005-2, Class A4, 3 Mo. LIBOR + 0.16% (b)	0.90%	12/15/39		357,679
	5,054,000	Series 2006-1, Class A6, 3 Mo. LIBOR + 0.16% (b)	0.90%	03/15/55		4,524,664
	130,000	Series 2006-2, Class A6, 3 Mo. LIBOR + 0.16% (b)	0.90%	09/15/39		119,279
	2,042,175	Series 2008-1, Class A4A, 3 Mo. LIBOR + 1.60% (b)	2.34%	12/15/32		2,012,818
		SLM Student Loan Trust
	141,501	Series 2003-10A, Class A3, 3 Mo. LIBOR + 0.47% (b) (d)	1.21%	12/15/27		140,427
	250,000	Series 2005-5, Class A5, 3 Mo. LIBOR + 0.75% (b)	1.74%	10/25/40		230,120
	611,348	Series 2005-9, Class A7A, 3 Mo. LIBOR + 0.60% (b)	1.59%	01/25/41		574,211
	207,696	Series 2006-2, Class A6, 3 Mo. LIBOR + 0.17% (b)	1.16%	01/25/41		194,684
	58,074	Series 2007-6, Class A4, 3 Mo. LIBOR + 0.38% (b)	1.37%	10/25/24		57,879
	80,000	Series 2007-7, Class B, 3 Mo. LIBOR + 0.75% (b)	1.74%	10/27/70		62,044
	925,693	Series 2008-1, Class A4, 3 Mo. LIBOR + 0.65% (b)	1.64%	01/25/22		851,403
	5,468,902	Series 2008-2, Class A3, 3 Mo. LIBOR + 0.75% (b)	1.74%	04/25/23		5,230,103
	130,000	Series 2008-2, Class B, 3 Mo. LIBOR + 1.20% (b)	2.19%	01/25/83		105,779
	700,000	Series 2008-3, Class B, 3 Mo. LIBOR + 1.20% (b)	2.19%	04/26/83		562,095
	5,583,008	Series 2008-6, Class A4, 3 Mo. LIBOR + 1.10% (b)	2.09%	07/25/23		5,266,769
	320,000	Series 2008-7, Class B, 3 Mo. LIBOR + 1.85% (b)	2.84%	07/26/83		297,365
	2,724,416	Series 2008-8, Class A4, 3 Mo. LIBOR + 1.50% (b)	2.49%	04/25/23		2,669,489
	345,000	Series 2011-1, Class A2, 1 Mo. LIBOR + 1.15% (b)	1.32%	10/25/34		339,709
	4,150,000	Series 2011-2, Class A2, 1 Mo. LIBOR + 1.20% (b)	1.37%	10/25/34		4,030,197
	776,946	Series 2012-2, Class A, 1 Mo. LIBOR + 0.70% (b)	0.87%	01/25/29		717,184
	764,889	Series 2012-3, Class A, 1 Mo. LIBOR + 0.65% (b)	0.82%	12/27/38		735,165
	288,853	Series 2012-6, Class A3, 1 Mo. LIBOR + 0.75% (b)	0.92%	05/26/26		265,632
	4,101,526	Series 2012-7, Class A3, 1 Mo. LIBOR + 0.65% (b)	0.82%	05/26/26		3,901,878
	555,000	Series 2012-7, Class B, 1 Mo. LIBOR + 1.80% (b)	1.97%	09/25/43		480,780
	146,388	Series 2013-2, Class A, 1 Mo. LIBOR + 0.45% (b)	0.62%	06/25/43		137,826
		Soundview Home Loan Trust
	59,023	Series 2006-2, Class M1, 1 Mo. LIBOR + 0.33% (b)	0.50%	03/25/36		58,620
		Structured Asset Investment Loan Trust
	975,781	Series 2004-6, Class A3, 1 Mo. LIBOR + 0.80% (b)	0.97%	07/25/34		931,394
	270,852	Series 2005-2, Class M2, 1 Mo. LIBOR + 0.74% (b)	0.90%	03/25/35		267,898
		Structured Asset Securities Corp. Mortgage Loan Trust
	1,350,000	Series 2005-NC2, Class M5, 1 Mo. LIBOR + 0.93% (b)	1.10%	05/25/35		1,257,836
		TCI-Flatiron CLO Ltd.
	700,000	Series 2016-1A, Class AR, 3 Mo. LIBOR + 1.22% (b) (d)	2.35%	07/17/28		691,463
		Towd Point Mortgage Trust
	490,766	Series 2015-2, Class 1A13 (b) (d)	2.50%	11/25/60		494,239
		Treman Park CLO Ltd.
	850,000	Series 2015-1A, Class ARR, 3 Mo. LIBOR + 1.07% (b) (d)	2.21%	10/20/28		837,079

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
ASSET-BACKED SECURITIES (Continued)
		Voya CLO Ltd.
$	139,506	Series 2014-3A, Class A1R, 3 Mo. LIBOR + 0.72% (b) (d)	1.71%	07/25/26	$	138,397
		Wachovia Student Loan Trust
	1,063,993	Series 2006-1, Class A6, 3 Mo. LIBOR + 0.17% (b) (d)	1.16%	04/25/40		1,002,937
		WaMu Asset-Backed Certificates WaMu Trust
	1,284,442	Series 2007-HE2, Class 2A1, 1 Mo. LIBOR + 0.11% (b)	0.28%	04/25/37		589,642
	4,457,233	Series 2007-HE2, Class 2A2, 1 Mo. LIBOR + 0.19% (b)	0.36%	04/25/37		2,086,458
	6,367,476	Series 2007-HE2, Class 2A3, 1 Mo. LIBOR + 0.25% (b)	0.42%	04/25/37		3,023,834
		Total Asset-Backed Securities				161,524,966
		(Cost $162,023,077)
MORTGAGE-BACKED SECURITIES — 5.3%
		Collateralized Mortgage Obligations — 4.5%
		Alternative Loan Trust
	7,035,085	Series 2005-16, Class A4, 1 Mo. LIBOR + 0.48% (b)	0.65%	06/25/35		6,245,867
	1,011,860	Series 2005-56, Class 1A1, 1 Mo. LIBOR + 0.73% (b)	0.90%	11/25/35		962,510
	3,596,654	Series 2007-13, Class A1	6.00%	06/25/47		2,760,649
		American Home Mortgage Investment Trust
	2,429,612	Series 2005-4, Class 1A1, 1 Mo. LIBOR + 0.58% (b)	0.75%	11/25/45		2,151,456
		Banc of America Funding Trust
	715,000	Series 2014-R6, Class 2A13 (d) (h)	0.75%	07/26/36		681,878
		BCAP LLC Trust
	346,893	Series 2015-RR5, Class 1A3 (d) (h)	2.10%	08/26/36		344,232
		Bear Stearns ALT-A Trust
	29,997	Series 2004-6, Class 1A, 1 Mo. LIBOR + 0.64% (b)	0.81%	07/25/34		29,989
		Bear Stearns Mortgage Funding Trust
	154,671	Series 2006-AR1, Class 1A1, 1 Mo. LIBOR + 0.21% (b)	0.38%	07/25/36		134,681
	3,388,071	Series 2006-AR3, Class 1A1, 1 Mo. LIBOR + 0.18% (b)	0.35%	10/25/36		3,007,597
	4,965,100	Series 2006-AR5, Class 2A1, 1 Mo. LIBOR + 0.19% (b)	0.36%	01/25/37		4,191,880
	271,941	Series 2007-AR5, Class 1A1G, 1 Mo. LIBOR + 0.16% (b)	0.33%	06/25/47		226,546
		CIM Trust
	3,479,839	Series 2017-3, Class A1, 1 Mo. LIBOR + 2.00% (b) (d)	2.37%	01/25/57		3,462,728
	2,633,136	Series 2017-6, Class A1 (d)	3.02%	06/25/57		2,605,395
	4,661,855	Series 2019-R1, Class A (d)	3.25%	10/25/58		4,332,390
	6,055,287	Series 2019-R4, Class A1 (d)	3.00%	10/25/59		5,609,859
	10,500,000	Series 2020-R3, Class A1A (d) (h) (i)	4.00%	01/26/60		10,526,250
		CitiMortgage Alternative Loan Trust
	3,256,580	Series 2006-A4, Class 1A8	6.00%	09/25/36		3,139,101
		Credit Suisse Mortgage Trust
	331,847	Series 2010-7R, Class 1A12 (d)	4.00%	01/26/37		333,035
	394,078	Series 2010-8R, Class 4A5 (d) (h)	3.62%	12/26/35		393,562
	418,175	Series 2010-8R, Class 10A5 (d) (h)	3.78%	04/26/47		414,040
	34,032	Series 2011-5R, Class 2A1 (d) (h)	3.59%	08/27/46		34,143
	247,404	Series 2014-2R, Class 19A1 (d) (h)	3.00%	05/27/36		246,027
	36,616	Series 2015-8R, Class 3A1, 6 Mo. LIBOR + 1.50% (b) (d)	2.59%	11/25/37		37,668
	3,780,402	Series 2019-RPL8, Class A1 (d)	3.32%	10/25/58		3,765,288
		GMACM Mortgage Loan Trust
	2,033,824	Series 2006-AR1, Class 1A1 (h)	3.75%	04/19/36		1,717,027
	2,466,970	Series 2006-J1, Class A4	5.75%	04/25/36		2,409,111

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
MORTGAGE-BACKED SECURITIES (Continued)
		Collateralized Mortgage Obligations (Continued)
		GreenPoint Mortgage Funding Trust
$	176,008	Series 2006-AR1, Class A1A, 1 Mo. LIBOR + 0.58% (b)	0.75%	02/25/36	$	168,335
		HarborView Mortgage Loan Trust
	569,571	Series 2005-10, Class 2A1A, 1 Mo. LIBOR + 0.31% (b)	0.48%	11/19/35		471,166
	1,690,487	Series 2007-7, Class 1A1, 1 Mo. LIBOR + 1.00% (b)	1.17%	10/25/37		1,446,921
		HomeBanc Mortgage Trust
	1,295,165	Series 2004-2, Class A1, 1 Mo. LIBOR + 0.74% (b)	0.91%	12/25/34		1,261,407
		Impac CMB Trust
	327,768	Series 2005-2, Class 1A1, 1 Mo. LIBOR + 0.52% (b)	0.69%	04/25/35		306,978
	1,096,988	Series 2005-4, Class 1A1A, 1 Mo. LIBOR + 0.54% (b)	0.71%	05/25/35		1,057,380
		IndyMac INDX Mortgage Loan Trust
	2,079,468	Series 2005-AR14, Class 2A1A, 1 Mo. LIBOR + 0.30% (b)	0.47%	07/25/35		1,850,752
	5,042,596	Series 2006-AR6, Class 2A1A, 1 Mo. LIBOR + 0.20% (b)	0.37%	06/25/46		4,197,459
	6,262,650	Series 2007-FLX4, Class 2A2, 1 Mo. LIBOR + 0.25% (b)	0.42%	07/25/37		5,492,667
		JP Morgan Mortgage Trust
	2,559,159	Series 2006-A4, Class 1A1 (h)	4.11%	06/25/36		2,174,071
		Lehman XS Trust
	342,939	Series 2006-16N, Class A4A, 1 Mo. LIBOR + 0.19% (b)	0.36%	11/25/46		299,563
	3,947,199	Series 2007-16N, Class 2A1, 1 Mo. LIBOR + 0.40% (b)	0.57%	09/25/47		3,463,570
		Merrill Lynch Alternative Note Asset Trust
	5,494,275	Series 2007-OAR3, Class A1, 1 Mo. LIBOR + 0.19% (b)	0.68%	07/25/47		4,754,229
		Morgan Stanley Mortgage Loan Trust
	801,310	Series 2004-6AR, Class 1M1, 1 Mo. LIBOR + 0.98% (b)	1.14%	07/25/34		783,987
	74,503	Series 2005-2AR, Class A, 1 Mo. LIBOR + 0.26% (b)	0.43%	04/25/35		72,212
		Morgan Stanley Resecuritization Trust
	137,611	Series 2015-R2, Class 1A1, 12 Mo. Treasury Average + 0.71% (b) (d)	2.58%	12/27/46		143,779
		MortgageIT Trust
	119,692	Series 2005-5, Class A1, 1 Mo. LIBOR + 0.52% (b)	0.69%	12/25/35		112,216
		Nomura Resecuritization Trust
	3,620,668	Series 2015-5R, Class 1A1 (d)	4.00%	08/26/37		3,683,458
		Opteum Mortgage Acceptance Corp.
	1,532,183	Series 2005-5, Class 1A1D, 1 Mo. LIBOR + 0.38% (b)	0.55%	12/25/35		1,468,902
	514,851	Series 2006-1, Class 1APT, 1 Mo. LIBOR + 0.21% (b)	0.38%	04/25/36		469,631
		RALI Trust
	5,060,112	Series 2007-QS9, Class A33	6.50%	07/25/37		4,505,216
		Stanwich Mortgage Loan Co. LLC
	4,939,322	Series 2019-RPL1, Class A, steps up to 3.72% after Redemption Date (d) (g)	3.72%	03/15/49		4,851,366
		Structured Adjustable Rate Mortgage Loan Trust
	44,871	Series 2004-12, Class 3A1 (h)	3.82%	09/25/34		44,364
		Structured Asset Mortgage Investments II Trust
	3,200,728	Series 2006-AR1, Class 3A1, 1 Mo. LIBOR + 0.23% (b)	0.40%	02/25/36		2,826,299
	3,342,162	Series 2007-AR6, Class A1, 12 Mo. Treasury Average + 1.50% (b)	3.19%	08/25/47		3,002,352
		WaMu Mortgage Pass-Through Certificates Trust
	135,327	Series 2005-AR1, Class A2A1, 1 Mo. LIBOR + 0.68% (b)	0.85%	01/25/45		131,592
	241,506	Series 2005-AR15, Class A1A1, 1 Mo. LIBOR + 0.26% (b)	0.43%	11/25/45		225,982
	343,206	Series 2006-AR3, Class A1A, 12 Mo. Treasury Average + 1.00% (b)	2.69%	02/25/46		322,357

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
MORTGAGE-BACKED SECURITIES (Continued)
		Collateralized Mortgage Obligations (Continued)
		WaMu Mortgage Pass-Through Certificates Trust (Continued)
$	502,430	Series 2006-AR4, Class 1A1A, 12 Mo. Treasury Average + 0.94% (b)	2.81%	05/25/46	$	469,093
						109,820,213
		Commercial Mortgage-Backed Securities — 0.8%
		Banc of America Merrill Lynch Large Loan Commercial Mortgage Securities Trust
	285,000	Series 2015-200P, Class A (d)	3.22%	04/14/33		301,345
	1,275,000	Series 2016-ISQ, Class A (d)	2.85%	08/14/34		1,312,675
	1,265,000	Series 2018-PARK, Class A (d) (h)	4.09%	08/10/38		1,452,740
		BX Trust
	580,000	Series 2019-OC11, Class A (d)	3.20%	12/09/41		588,131
		CALI Mortgage Trust
	1,125,000	Series 2019-101C, Class A (d)	3.96%	03/10/39		1,281,625
		Century Plaza Towers
	840,000	Series 2019-CPT, Class A (d)	2.87%	11/13/39		888,175
		COMM Mortgage Trust
	206,646	Series 2012-CR5, Class A3	2.54%	12/10/45		208,755
	315,000	Series 2012-CR5, Class A4	2.77%	12/10/45		320,124
		DBJPM Mortgage Trust
	2,050,000	Series 2016-SFC, Class A (d)	2.83%	08/10/36		1,969,167
		DC Office Trust
	900,000	Series 2019-MTC, Class A (d)	2.97%	09/15/45		941,394
		Eleven Madison Mortgage Trust
	305,000	Series 2015-11MD, Class A (d) (h)	3.55%	09/10/35		326,339
		Hudson Yards Mortgage Trust
	1,190,000	Series 2019-30HY, Class A (d)	3.23%	07/10/39		1,293,399
	1,200,000	Series 2019-55HY, Class A (d) (h)	2.94%	12/10/41		1,273,335
		JPMorgan Chase Commercial Mortgage Securities Trust
	1,110,000	Series 2019-OSB, Class A (d)	3.40%	06/05/39		1,214,316
		MKT Mortgage Trust
	1,730,000	Series 2020-525M, Class A (d)	2.69%	02/12/40		1,807,273
		Natixis Commercial Mortgage Securities Trust
	1,490,000	Series 2020-2PAC, Class A (d)	2.97%	12/15/38		1,547,156
		One Bryant Park Trust
	985,000	Series 2019-OBP, Class A (d)	2.52%	09/15/54		1,014,005
		RBS Commercial Funding, Inc. Trust
	50,000	Series 2013-GSP, Class A (d) (h)	3.83%	01/15/32		50,796
		SFAVE Commercial Mortgage Securities Trust
	150,000	Series 2015-5AVE, Class A1 (d) (h)	3.87%	01/05/43		160,487
	125,000	Series 2015-5AVE, Class A2B (d) (h)	4.14%	01/05/43		110,567
		UBS-Barclays Commercial Mortgage Trust
	249,678	Series 2013-C6, Class A3	2.97%	04/10/46		256,345
		Worldwide Plaza Trust
	1,880,000	Series 2017-WWP, Class A (d)	3.53%	11/10/36		2,016,180
						20,334,329
		Total Mortgage-Backed Securities				130,154,542
		(Cost $134,393,799)

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value (Local Currency)		Description	Stated Coupon	Stated Maturity	Value (U.S. Dollar)
FOREIGN CORPORATE BONDS AND NOTES — 3.7%
		Airlines — 0.0%
	692,400	Air Canada Pass-Through Trust, Series 2017-1, Class AA (USD) (d)	3.30%	01/15/30	$	607,902
		Banks — 0.5%
	800,000	Banco Nacional de Comercio Exterior SNC (USD) (d) (e)	3.80%	08/11/26		774,856
	400,000	Global Bank Corp. (USD) (e) (j)	5.25%	04/16/29		392,626
	1,195,000	Lloyds Banking Group PLC (USD) (e)	2.86%	03/17/23		1,219,045
	1,870,000	Lloyds Banking Group PLC (USD)	3.90%	03/12/24		2,011,143
	3,125,000	Lloyds Banking Group PLC (USD) (e)	3.87%	07/09/25		3,322,419
	1,800,000	Santander UK Group Holdings PLC (USD)	2.88%	08/05/21		1,831,526
	500,000	Santander UK Group Holdings PLC (USD) (e)	3.37%	01/05/24		519,087
	1,900,000	Santander UK Group Holdings PLC (USD) (e)	4.80%	11/15/24		2,085,492
						12,156,194
		Beverages — 0.1%
	245,000	Bacardi Ltd. (USD) (d)	4.70%	05/15/28		270,254
	385,000	Bacardi Ltd. (USD) (d)	5.30%	05/15/48		463,876
	1,800,000	Diageo Capital PLC (USD)	2.13%	04/29/32		1,824,243
						2,558,373
		Commercial Services — 0.3%
	1,400,000	DP World Crescent Ltd. (USD) (d)	4.85%	09/26/28		1,445,304
	1,689,000	IHS Markit Ltd. (USD) (d)	5.00%	11/01/22		1,815,686
	2,500,000	IHS Markit Ltd. (USD)	3.63%	05/01/24		2,613,112
	795,000	IHS Markit Ltd. (USD) (d)	4.75%	02/15/25		868,347
	135,000	IHS Markit Ltd. (USD) (d)	4.00%	03/01/26		144,546
	250,000	IHS Markit Ltd. (USD)	4.75%	08/01/28		287,984
						7,174,979
		Diversified Financial Services — 0.9%
	375,000	AerCap Ireland Capital DAC / AerCap Global Aviation Trust (USD)	4.50%	05/15/21		365,559
	800,000	AerCap Ireland Capital DAC / AerCap Global Aviation Trust (USD)	5.00%	10/01/21		780,691
	1,500,000	AerCap Ireland Capital DAC / AerCap Global Aviation Trust (USD)	3.95%	02/01/22		1,413,491
	1,100,000	AerCap Ireland Capital DAC / AerCap Global Aviation Trust (USD)	3.50%	05/26/22		1,020,197
	1,000,000	AerCap Ireland Capital DAC / AerCap Global Aviation Trust (USD)	4.13%	07/03/23		892,051
	1,000,000	AerCap Ireland Capital DAC / AerCap Global Aviation Trust (USD)	4.88%	01/16/24		879,757
	3,380,000	Avolon Holdings Funding Ltd. (USD) (d)	5.13%	10/01/23		2,861,279
	135,000	Avolon Holdings Funding Ltd. (USD) (d)	5.25%	05/15/24		114,128
	885,000	Avolon Holdings Funding Ltd. (USD) (d)	2.88%	02/15/25		678,834
	840,000	Fondo Mivivienda S.A. (USD) (j)	3.50%	01/31/23		860,920
	9,840,000	GE Capital International Funding Co. Unlimited Co. (USD)	4.42%	11/15/35		9,853,748
	1,240,000	Park Aerospace Holdings Ltd. (USD) (d)	5.25%	08/15/22		1,095,256
	850,000	Park Aerospace Holdings Ltd. (USD) (d)	4.50%	03/15/23		720,947
	1,670,000	Park Aerospace Holdings Ltd. (USD) (d)	5.50%	02/15/24		1,436,786
						22,973,644
		Electric — 0.0%
	400,000	Minejesa Capital B.V. (USD) (d)	5.63%	08/10/37		405,718
	250,000	Mong Duong Finance Holdings B.V. (USD) (j)	5.13%	05/07/29		246,848
						652,566

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value (Local Currency)		Description	Stated Coupon	Stated Maturity	Value (U.S. Dollar)
FOREIGN CORPORATE BONDS AND NOTES (Continued)
		Environmental Control — 0.0%
	890,000	GFL Environmental, Inc. (USD) (d)	5.13%	12/15/26	$	928,381
		Food — 0.0%
	150,000	JBS USA LUX S.A. / JBS USA Food Co. / JBS USA Finance, Inc. (USD) (d)	5.50%	01/15/30		155,972
		Household Products/Wares — 0.0%
	200,000	Reckitt Benckiser Treasury Services PLC (USD) (d)	2.75%	06/26/24		211,438
		Media — 0.0%
	400,000	Virgin Media Secured Finance PLC (USD) (d)	5.50%	08/15/26		418,162
	345,000	Virgin Media Secured Finance PLC (USD) (d)	5.50%	05/15/29		363,049
						781,211
		Mining — 0.2%
	64,000	Corp. Nacional del Cobre de Chile (USD) (j)	4.50%	09/16/25		71,273
	900,000	Corp. Nacional del Cobre de Chile (USD) (j)	3.63%	08/01/27		957,920
	955,000	Corp. Nacional del Cobre de Chile (USD) (j)	3.15%	01/14/30		987,121
	1,660,000	Indonesia Asahan Aluminium Persero PT (USD) (d)	6.53%	11/15/28		1,883,920
						3,900,234
		Oil & Gas — 0.6%
	20,000	Canadian Natural Resources Ltd. (USD)	3.85%	06/01/27		20,645
	200,000	Ecopetrol S.A. (USD)	5.88%	05/28/45		208,861
	1,491,000	KazMunayGas National Co. JSC (USD) (j)	5.75%	04/19/47		1,685,083
	2,104,000	Pertamina Persero PT (USD) (d)	3.10%	08/25/30		2,090,595
	1,587,000	Petrobras Global Finance B.V. (USD) (d)	5.09%	01/15/30		1,514,895
	200,000	Petroleos del Peru S.A. (USD) (j)	4.75%	06/19/32		217,312
	1,590,000	Petroleos Mexicanos (USD) (d)	5.95%	01/28/31		1,285,356
	215,000	Petroleos Mexicanos (USD)	6.63%	06/15/35		173,117
	2,430,000	Petroleos Mexicanos (USD)	6.75%	09/21/47		1,869,387
	2,035,000	Petroleos Mexicanos (USD) (d)	7.69%	01/23/50		1,688,429
	1,705,000	Petroleos Mexicanos (USD) (d)	6.95%	01/28/60		1,323,404
	513,000	Petronas Capital Ltd. (USD) (d)	3.50%	04/21/30		564,395
	200,000	Saudi Arabian Oil Co. (USD) (j)	4.25%	04/16/39		218,182
	197,895	Transocean Pontus Ltd. (USD) (d)	6.13%	08/01/25		188,990
	517,000	Transocean Poseidon Ltd. (USD) (d)	6.88%	02/01/27		473,055
						13,521,706
		Oil & Gas Services — 0.0%
	328,250	Transocean Phoenix 2 Ltd. (USD) (d)	7.75%	10/15/24		320,044
	16,250	Transocean Proteus Ltd. (USD) (d)	6.25%	12/01/24		15,681
						335,725
		Packaging & Containers — 0.1%
	400,000	Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. (USD) (d)	4.13%	08/15/26		402,318
	51,000	OI European Group B.V. (USD) (d)	4.00%	03/15/23		50,548

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value (Local Currency)		Description	Stated Coupon	Stated Maturity	Value (U.S. Dollar)
FOREIGN CORPORATE BONDS AND NOTES (Continued)
		Packaging & Containers (Continued)
	1,495,000	Trivium Packaging Finance B.V. (USD) (d)	5.50%	08/15/26	$	1,571,858
						2,024,724
		Pharmaceuticals — 0.1%
	300,000	AstraZeneca PLC (USD)	3.50%	08/17/23		325,189
	522,000	Bausch Health Cos., Inc. (USD) (d)	6.50%	03/15/22		531,691
	550,000	Bausch Health Cos., Inc. (USD) (d)	7.00%	03/15/24		570,567
						1,427,447
		Pipelines — 0.0%
	800,000	Southern Gas Corridor CJSC (USD) (j)	6.88%	03/24/26		922,939
		Retail — 0.2%
	100,000	Alimentation Couche-Tard, Inc. (USD) (d)	3.55%	07/26/27		105,205
	4,230,000	Alimentation Couche-Tard, Inc. (USD) (d)	3.80%	01/25/50		4,046,490
						4,151,695
		Savings & Loans — 0.2%
	4,895,000	Nationwide Building Society (USD) (d) (e)	3.62%	04/26/23		5,041,608
	360,000	Nationwide Building Society (USD) (d) (e)	3.77%	03/08/24		377,921
	300,000	Nationwide Building Society (USD) (d) (e)	4.36%	08/01/24		321,479
						5,741,008
		Semiconductors — 0.1%
	1,205,000	NXP B.V. / NXP Funding LLC (USD) (d)	4.13%	06/01/21		1,240,505
		Telecommunications — 0.4%
	200,000	C&W Senior Financing DAC (USD) (d)	6.88%	09/15/27		197,919
	1,970,000	Intelsat Jackson Holdings S.A. (USD) (d) (k)	8.50%	10/15/24		1,128,032
	390,000	Intelsat Jackson Holdings S.A. (USD) (d) (k)	9.75%	07/15/25		231,116
	725,000	Koninklijke KPN N.V. (USD)	8.38%	10/01/30		1,043,315
	500,000	SES S.A. (USD) (d)	3.60%	04/04/23		498,685
	330,000	Vodafone Group PLC (USD)	3.75%	01/16/24		359,223
	2,777,000	Vodafone Group PLC (USD)	4.88%	06/19/49		3,481,556
	1,375,000	Vodafone Group PLC (USD)	4.25%	09/17/50		1,586,457
						8,526,303
		Transportation — 0.0%
	526,000	Empresa de Transporte de Pasajeros Metro S.A. (USD) (d)	3.65%	05/07/30		562,426
		Total Foreign Corporate Bonds and Notes				90,555,372
		(Cost $94,125,940)
FOREIGN SOVEREIGN BONDS AND NOTES — 2.7%
		Bahrain — 0.1%
	1,200,000	Bahrain Government International Bond (USD) (j)	7.00%	10/12/28		1,258,800
		Colombia — 0.1%
	684,000	Colombia Government International Bond (USD)	4.50%	01/28/26		742,041
	437,000	Colombia Government International Bond (USD)	3.88%	04/25/27		464,125
	700,000	Colombia Government International Bond (USD)	3.00%	01/30/30		701,312
	1,233,000	Colombia Government International Bond (USD)	5.20%	05/15/49		1,456,216
						3,363,694

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value (Local Currency)		Description	Stated Coupon	Stated Maturity	Value (U.S. Dollar)
FOREIGN SOVEREIGN BONDS AND NOTES (Continued)
		Dominican Republic — 0.1%
	1,857,000	Dominican Republic International Bond (USD) (j)	6.00%	07/19/28	$	1,793,992
	330,000	Dominican Republic International Bond (USD) (d)	4.50%	01/30/30		287,722
						2,081,714
		Egypt — 0.1%
	800,000	Egypt Government International Bond (USD) (d)	5.58%	02/21/23		806,095
	400,000	Egypt Government International Bond (USD) (d)	7.60%	03/01/29		406,559
						1,212,654
		Indonesia — 0.0%
	757,000	Indonesia Government International Bond (USD)	2.85%	02/14/30		775,107
		Japan — 1.3%
	3,580,000,000	Japan Treasury Discount Bill, Series 892 (JPY)	(l)	06/08/20		33,196,764
		Mexico — 0.1%
	292,000	Mexico Government International Bond (USD)	3.75%	01/11/28		301,766
	3,332,000	Mexico Government International Bond (USD)	3.25%	04/16/30		3,285,152
						3,586,918
		Panama — 0.1%
	1,783,000	Panama Government International Bond (USD)	3.16%	01/23/30		1,875,511
		Paraguay — 0.0%
	600,000	Paraguay Government International Bond (USD) (j)	4.63%	01/25/23		627,000
		Peru — 0.1%
	1,175,000	Peruvian Government International Bond (USD)	4.13%	08/25/27		1,339,288
	1,675,000	Peruvian Government International Bond (USD)	2.84%	06/20/30		1,777,276
						3,116,564
		Qatar — 0.1%
	2,324,000	Qatar Government International Bond (USD) (j)	4.50%	04/23/28		2,692,412
	353,000	Qatar Government International Bond (USD) (j)	4.63%	06/02/46		436,213
						3,128,625
		Russia — 0.1%
	1,600,000	Russian Foreign Bond - Eurobond (USD) (j)	4.38%	03/21/29		1,851,738
		Saudi Arabia — 0.2%
	3,040,000	Saudi Government International Bond (USD) (j)	3.63%	03/04/28		3,285,778
	320,000	Saudi Government International Bond (USD) (d)	2.75%	02/03/32		319,222
	200,000	Saudi Government International Bond (USD) (j)	4.50%	10/26/46		223,883
	200,000	Saudi Government International Bond (USD) (d)	3.75%	01/21/55		197,500
						4,026,383
		South Africa — 0.1%
	1,200,000	Republic of South Africa Government International Bond (USD)	4.67%	01/17/24		1,211,168
	1,264,000	Republic of South Africa Government International Bond (USD)	4.30%	10/12/28		1,138,862
						2,350,030
		Turkey — 0.0%
	400,000	Turkey Government International Bond (USD)	3.25%	03/23/23		374,137

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value (Local Currency)		Description	Stated Coupon	Stated Maturity	Value (U.S. Dollar)
FOREIGN SOVEREIGN BONDS AND NOTES (Continued)
		United Arab Emirates — 0.1%
	1,837,000	Abu Dhabi Government International Bond (USD) (j)	2.50%	09/30/29	$	1,894,373
		Uruguay — 0.1%
	173,486	Uruguay Government International Bond (USD)	4.38%	10/27/27		194,707
	960,000	Uruguay Government International Bond (USD)	4.38%	01/23/31		1,097,112
						1,291,819
		Total Foreign Sovereign Bonds and Notes				66,011,831
		(Cost $66,968,002)
Principal Value		Description	Stated Coupon	Stated Maturity	Value
MUNICIPAL BONDS — 0.8%
		California — 0.4%
$	32	CA St Build America Bonds	7.95%	03/01/36		28
	2,585,000	Los Angeles CA Unif School District	5.75%	07/01/34		3,441,385
	1,065,000	Regents of the Univ of CA Medical Center Pooled Rev	3.01%	05/15/50		1,033,582
	4,715,000	Regents of the Univ of CA Medical Center Pooled Rev	3.26%	05/15/60		4,711,841
						9,186,836
		Indiana — 0.1%
	1,500,000	IN Univ	3.07%	06/01/60		1,537,605
		Massachusetts — 0.1%
	2,695,000	Commonwealth of MA	3.00%	03/01/49		2,874,595
		Missouri — 0.0%
	735,000	Hlth & Eductnl Facs Auth of the State of MO	3.65%	08/15/57		865,066
		New Jersey — 0.0%
	500,000	NJ St Turnpike Auth Rev	3.73%	01/01/36		548,725
		New York — 0.1%
	1,225,000	Metro Transprtn Auth	5.18%	11/15/49		1,339,060
	400,000	New York City NY Transitional Fin Auth Rev Qualified Sch Constr, Ser BD G-3	5.27%	05/01/27		489,400
						1,828,460
		North Carolina — 0.1%
	2,250,000	Univ of NC at Chapel Hill	3.33%	12/01/36		2,550,757
		Total Municipal Bonds				19,392,044
		(Cost $18,729,633)

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Rate (m)	Stated Maturity (n)	Value
SENIOR FLOATING-RATE LOAN INTERESTS — 0.2%
		Environmental — 0.0%
$	500,000	GFL Environmental, Inc., Term Loan B, 3 Mo. LIBOR + 3.00%, 1.00% Floor	4.00%	05/31/25	$	492,750
		Food and Beverage — 0.0%
	648,371	Hostess Brands LLC, Term Loan B, 1 Mo. LIBOR + 2.25%, 0.75% Floor	3.00%	08/03/25		628,310
		Gaming — 0.0%
	250,000	VICI Properties, Inc., Term Loan B, 1 Mo. LIBOR + 1.75%, 0.00% Floor	1.92%	12/22/24		238,125
		Healthcare — 0.0%
	249,375	Grifols Worldwide Operations Ltd., Term Loan B, 1 Mo. LIBOR + 2.00%, 0.00% Floor	2.17%	11/15/27		243,141
	250,000	MPH Acquisition Holdings LLC, Term Loan B, 3 Mo. LIBOR + 2.75%, 1.00% Floor	3.75%	06/07/23		239,635
						482,776
		Pharmaceuticals — 0.1%
	777,178	Bausch Health Cos., Inc., Term Loan B, 3 Mo. LIBOR + 3.00%, 0.00% Floor	4.46%	06/01/25		760,803
	100,000	Elanco Animal Health, Inc., Term Loan B, 1 Mo. LIBOR + 1.75%, 0.00% Floor	1.92%	02/04/27		96,750
						857,553
		Wirelines — 0.1%
	249,375	CenturyLink, Inc., Term Loan B, 1 Mo. LIBOR + 2.25%, 0.00% Floor	2.43%	03/15/27		238,971
	650,000	Front Range Bidco, Inc., Term Loan B, 1 Mo. LIBOR + 3.00%, 0.00% Floor	3.20%	03/09/27		624,410
	750,000	Level 3 Parent LLC, Term Loan B, 1 Mo. LIBOR + 1.75%, 0.00% Floor	1.93%	03/01/27		726,427
	1,145,000	T-Mobile USA, Inc., Term Loan B, 1 Mo. LIBOR + 3.00%, 0.00% Floor	3.30%	04/01/27		1,144,737
						2,734,545
		Total Senior Floating-Rate Loan Interests				5,434,059
		(Cost $5,138,501)

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CAPITAL PREFERRED SECURITIES — 0.0%
		Electric — 0.0%
	300,000	Alabama Power Capital Trust V, 3 Mo. LIBOR + 3.10% (b)	4.53%	10/01/42		300,150
		Total Capital Preferred Securities				300,150
		(Cost $290,250)
U.S. TREASURY BILLS — 23.6%
	60,000,000	U.S. Cash Management Bill	(l)	10/20/20		59,964,750
	135,610,000	U.S. Cash Management Bill	(l)	10/27/20		135,526,373
	3,231,000	U.S. Treasury Bill (o)	(l)	09/10/20		3,229,618
	50,000,000	U.S. Treasury Bill	(l)	10/08/20		49,972,677

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
U.S. TREASURY BILLS (Continued)
$	133,940,000	U.S. Treasury Bill	(l)	11/05/20	$	133,847,999
	100,000,000	U.S. Treasury Bill	(l)	11/12/20		99,928,819
	99,395,000	U.S. Treasury Bill	(l)	11/19/20		99,314,739
		Total U.S. Treasury Bills				581,784,975
		(Cost $581,811,480)

Shares		Description	Value
MONEY MARKET FUNDS — 6.8%
	169,065,799	JPMorgan 100% U.S. Treasury Securities Money Market - Fund Institutional Class - 0.10% (p)		169,065,799
		(Cost $169,065,799)
		Total Investments — 123.8%		3,054,741,606
		(Cost $3,018,760,210) (q)
		Net Other Assets and Liabilities — (23.8)%		(586,360,206	)
		Net Assets — 100.0%	$	2,468,381,400

Forward Foreign Currency Contracts at May 31, 2020:
Settlement Date	Counterparty	Amount Purchased		Amount Sold		Purchase Value as of 5/31/2020		Sale Value as of 5/31/2020		Unrealized Appreciation (Depreciation)
6/8/2020	Citi	JPY	1,000,000,000	USD	9,351,933	$	9,273,653	$	9,351,933	$	(78,280	)
6/8/2020	Citi	USD	43,694,285	JPY	4,580,000,000		43,694,285		42,473,331		1,220,954
Net Unrealized Appreciation (Depreciation)										$	1,142,674
Counterparty Abbreviations:
Citi - Citibank N.A.

1

Futures Contracts at May 31, 2020:
Futures Contracts	Position	Number of Contracts	Expiration Date		Notional Value			Unrealized Appreciation (Depreciation)/ Value
U.S. 5-Year Treasury Notes	Long	708	Sep-2020	$	88,942,500		$	137,375
Ultra U.S. Treasury Bond Futures	Long	35	Sep-2020		7,631,094			(30,265	)
U.S. 10-Year Ultra Treasury Notes	Short	23	Sep-2020		(3,618,547	)		(20,324	)
				$	92,955,047		$	86,786

(a)	Weighted Average Coupon security. Coupon is based on the blended interest rate of the underlying holdings, which may have different coupons. The coupon may change in any period.
(b)	Floating or variable rate security.
(c)	All or a portion of this security is part of a mortgage dollar roll agreement.

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

(d)	This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule 144A of the Securities Act of 1933, as amended (the “1933 Act”), and may be resold in transactions exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined to be liquid by First Trust Advisors L.P., the Fund’s Advisor. Although market instability can result in periods of increased overall market illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require subjective judgment. At May 31, 2020, securities noted as such amounted to $267,848,645 or 10.9% of net assets.
(e)	Fixed-to-floating security. At a predetermined date, the fixed rate will change to a floating rate.
(f)	Security whose principal value is adjusted in accordance with changes to the country’s Consumer Price Index. Interest is calculated on the basis of the current adjusted principal value.
(g)	Step-up security. A security where the coupon increases or steps up at a predetermined date.
(h)	Collateral Strip Rate security. Coupon is based on the weighted net interest rate of the investment’s underlying collateral. The interest rate resets periodically.
(i)	This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Trust’s Board of Trustees, and in accordance with provisions of the Investment Company Act of 1940, as amended. At May 31, 2020, securities noted as such are valued at $10,526,250 or 0.4% of net assets.
(j)	This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the 1933 Act.
(k)	The issuer is in default and interest is not being accrued by the Fund nor paid by the issuer.
(l)	Zero coupon security.
(m)	Senior Floating-Rate Loan Interests (“Senior Loans”) in which the Fund invests generally pay interest at rates which are periodically predetermined by reference to a base lending rate plus a premium. These base lending rates are generally (j) the lending rate offered by one or more major European banks, such as the LIBOR, (ii) the prime rate offered by one or more United States banks or (iii) the certificate of deposit rate. Certain Senior Loans are subject to a LIBOR floor that establishes a minimum LIBOR rate. When a range of rates is disclosed, the Fund holds more than one contract within the same tranche with identical LIBOR period, spread and floor, but different LIBOR reset dates.
(n)	Senior Loans generally are subject to mandatory and/or optional prepayment. As a result, the actual remaining maturity of Senior Loans may be substantially less than the stated maturities shown.
(o)	All or a portion of this security is segregated as collateral for open futures contracts.
(p)	Rate shown reflects yield as of May 31, 2020.
(q)	Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $57,909,204 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $20,698,348. The net unrealized appreciation was $37,210,856. The amounts presented are inclusive of derivative contracts.

IO	- Interest-Only Security – Principal amount shown represents par value on which interest payments are based.
LIBOR	- London Interbank Offered Rates
SOFR	- Secured Overnight Finance Rates
TBA	- To-Be-Announced Security
Currency Abbreviations:
JPY	- Japanese Yen
USD	- United States Dollar

First Trust TCW Opportunistic Fixed Income ETF (FIXD)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020, is as follows (see Valuation Inputs in the Additional Information section):

ASSETS TABLE

	Total Value at 5/31/2020		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
U.S. Government Agency Mortgage-Backed Securities	$	845,673,042	$	—	$	845,673,042	$	—
Corporate Bonds and Notes*		529,991,391		—		529,991,391		—
U.S. Government Bonds and Notes		454,853,435		—		454,853,435		—
Asset-Backed Securities		161,524,966		—		161,524,966		—
Mortgage-Backed Securities		130,154,542		—		130,154,542		—
Foreign Corporate Bonds and Notes*		90,555,372		—		90,555,372		—
Foreign Sovereign Bonds and Notes**		66,011,831		—		66,011,831		—
Municipal Bonds***		19,392,044		—		19,392,044		—
Senior Floating-Rate Loan Interests		5,434,059		—		5,434,059		—
Capital Preferred Securities*		300,150		—		300,150		—
U.S. Treasury Bills		581,784,975		—		581,784,975		—
Money Market Funds		169,065,799		169,065,799		—		—
Total Investments		3,054,741,606		169,065,799		2,885,675,807		—
Forward Foreign Currency Contracts		1,220,954		—		1,220,954		—
Futures Contracts		137,375		137,375		—		—
Total	$	3,056,099,935	$	169,203,174	$	2,886,896,761	$	—

LIABILITIES TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices			Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Forward Foreign Currency Contracts	$	(78,280	)	$	—		$	(78,280	)	$	—
Futures Contracts		(50,589	)		(50,589	)		—			—
Total	$	(128,869	)	$	(50,589	)	$	(78,280	)	$	—

*	See Portfolio of Investments for industry breakout.
**	See Portfolio of Investments for country breakout.
***	See Portfolio of Investments for state breakout.

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES — 47.0%
		Aerospace/Defense — 0.3%
$	510,000	Northrop Grumman Corp.	2.93%	01/15/25	$	553,294
		Agriculture — 0.6%
	250,000	BAT Capital Corp.	4.54%	08/15/47		266,767
	645,000	Reynolds American, Inc.	5.85%	08/15/45		782,664
						1,049,431
		Airlines — 0.8%
	350,786	American Airlines Pass-Through Trust, Series 2014-1, Class A	3.70%	10/01/26		281,776
	303,569	Continental Airlines Pass-Through Trust, Series 2007-1, Class A	5.98%	04/19/22		274,785
	318,073	Delta Air Lines Pass-Through Trust, Series 2002-1, Class G1	6.72%	01/02/23		310,163
	545,795	United Airlines Pass-Through Trust, Series 2013-1, Class A	4.30%	08/15/25		497,069
	45,698	US Airways Pass-Through Trust, Series 2001-011G	7.08%	03/20/21		44,621
	137,832	US Airways Pass-Through Trust, Series 2012-1, Class A	5.90%	10/01/24		117,888
						1,526,302
		Auto Manufacturers — 2.1%
	310,000	Daimler Finance North America LLC (a)	2.20%	10/30/21		310,847
	520,000	Daimler Finance North America LLC, 3 Mo. LIBOR + 0.90% (a) (b)	1.29%	02/15/22		501,937
	350,000	Ford Motor Credit Co. LLC	3.20%	01/15/21		345,538
	30,000	Ford Motor Credit Co. LLC	5.75%	02/01/21		30,150
	125,000	Ford Motor Credit Co. LLC, 3 Mo. LIBOR + 0.81% (b)	2.18%	04/05/21		118,605
	300,000	Ford Motor Credit Co. LLC, 3 Mo. LIBOR + 0.88% (b)	2.19%	10/12/21		281,964
	170,000	Ford Motor Credit Co. LLC	3.81%	10/12/21		166,175
	600,000	Ford Motor Credit Co. LLC	3.22%	01/09/22		580,500
	300,000	Ford Motor Credit Co. LLC	3.34%	03/28/22		291,009
	250,000	General Motors Financial Co., Inc.	4.20%	03/01/21		252,546
	475,000	General Motors Financial Co., Inc.	3.55%	04/09/21		475,067
	405,000	General Motors Financial Co., Inc.	3.20%	07/06/21		405,255
	115,000	General Motors Financial Co., Inc.	4.38%	09/25/21		115,703
	80,000	General Motors Financial Co., Inc.	3.45%	04/10/22		80,166
						3,955,462
		Banks — 7.1%
	65,000	Bank of America Corp. (c)	3.00%	12/20/23		67,917
	180,000	Bank of America Corp. (c)	2.59%	04/29/31		185,055
	700,000	Bank of America Corp., Medium-Term Note (c)	3.50%	05/17/22		717,001
	200,000	Bank of America Corp., Medium-Term Note (c)	3.97%	03/05/29		226,307
	5,000	Bank of America Corp., Medium-Term Note (c)	4.27%	07/23/29		5,788
	465,000	Bank of America Corp., Medium-Term Note (c)	3.97%	02/07/30		529,165
	165,000	Bank of America Corp., Medium-Term Note (c)	2.88%	10/22/30		173,663
	350,000	Bank of America Corp., Medium-Term Note (c)	4.08%	03/20/51		416,435
	420,000	Bank of New York Mellon (The) Corp., Medium-Term Note (c)	2.66%	05/16/23		435,193
	100,000	Citigroup, Inc. (c)	2.88%	07/24/23		103,387
	500,000	Citigroup, Inc. (c)	3.35%	04/24/25		533,308
	525,000	Citigroup, Inc. (c)	4.08%	04/23/29		589,951
	390,000	Citigroup, Inc. (c)	2.57%	06/03/31		390,921
	135,000	Comerica, Inc. (c)	5.63%	(d)		134,595
	300,000	Goldman Sachs Group, (The), Inc. (c)	2.88%	10/31/22		306,631
	160,000	Goldman Sachs Group, (The), Inc. (c)	3.69%	06/05/28		175,434
	220,000	Goldman Sachs Group, (The), Inc. (c)	3.81%	04/23/29		242,538
	735,000	Goldman Sachs Group, (The), Inc.	2.60%	02/07/30		743,962
	355,000	JPMorgan Chase & Co. (c)	2.18%	06/01/28		357,831
	200,000	JPMorgan Chase & Co. (c)	4.01%	04/23/29		226,147

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Banks (Continued)
$	1,460,000	JPMorgan Chase & Co. (c)	4.20%	07/23/29	$	1,672,911
	250,000	Morgan Stanley, 3 Mo. LIBOR + 0.93% (b)	2.03%	07/22/22		249,575
	1,710,000	Morgan Stanley, Global Medium-Term Note	3.70%	10/23/24		1,882,196
	270,000	Wells Fargo & Co. (c)	3.07%	04/30/41		274,792
	510,000	Wells Fargo & Co., Medium-Term Note (c)	3.58%	05/22/28		553,811
	230,000	Wells Fargo & Co., Medium-Term Note (c)	2.39%	06/02/28		232,220
	250,000	Wells Fargo & Co., Medium-Term Note	4.15%	01/24/29		285,146
	125,000	Wells Fargo & Co., Medium-Term Note (c)	2.88%	10/30/30		129,987
	360,000	Wells Fargo & Co., Medium-Term Note (c)	2.57%	02/11/31		363,510
	910,000	Wells Fargo & Co., Medium-Term Note (c)	5.01%	04/04/51		1,194,406
						13,399,783
		Beverages — 0.5%
	425,000	Anheuser-Busch InBev Worldwide, Inc.	4.50%	06/01/50		480,357
	390,000	Constellation Brands, Inc.	4.25%	05/01/23		426,593
						906,950
		Biotechnology — 0.2%
	285,000	Amgen, Inc.	4.40%	05/01/45		356,614
		Chemicals — 0.4%
	400,000	International Flavors & Fragrances, Inc.	4.45%	09/26/28		433,011
	360,000	Sherwin-Williams (The) Co.	2.30%	05/15/30		358,954
						791,965
		Commercial Services — 1.1%
	190,000	Duke University, Series 2020	2.68%	10/01/44		194,391
	190,000	Emory University, Series 2020	2.14%	09/01/30		194,331
	500,000	Global Payments, Inc.	3.80%	04/01/21		509,261
	600,000	RELX Capital, Inc.	4.00%	03/18/29		672,347
	61,000	Service Corp. International	4.63%	12/15/27		64,367
	365,000	William Marsh Rice University	2.60%	05/15/50		371,908
						2,006,605
		Computers — 0.1%
	160,000	Dell International LLC / EMC Corp. (a)	4.42%	06/15/21		163,029
		Diversified Financial Services — 0.7%
	570,000	Air Lease Corp.	3.88%	07/03/23		537,418
	50,000	International Lease Finance Corp.	4.63%	04/15/21		49,665
	615,000	Raymond James Financial, Inc.	3.63%	09/15/26		664,441
						1,251,524
		Electric — 2.2%
	75,000	Alliant Energy Finance LLC (a)	3.75%	06/15/23		80,128
	705,000	Dominion Energy, Inc., Series A	3.30%	03/15/25		761,240
	150,000	Duke Energy Progress LLC	3.70%	09/01/28		172,862
	100,000	Duquesne Light Holdings, Inc. (a)	6.40%	09/15/20		101,624
	600,000	Duquesne Light Holdings, Inc. (a)	5.90%	12/01/21		629,649
	100,000	Evergy Metro, Inc.	4.20%	06/15/47		121,592
	75,000	Florida Power & Light Co.	3.95%	03/01/48		95,042
	100,000	Metropolitan Edison Co. (a)	3.50%	03/15/23		104,773
	500,000	Pennsylvania Electric Co. (a)	4.15%	04/15/25		554,658
	900,000	PNM Resources, Inc.	3.25%	03/09/21		909,174
	100,000	Puget Sound Energy, Inc.	4.22%	06/15/48		123,223

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Electric (Continued)
$	450,000	Southwestern Electric Power Co., Series M	4.10%	09/15/28	$	508,504
	75,000	Tucson Electric Power Co.	5.15%	11/15/21		78,222
						4,240,691
		Engineering & Construction — 0.2%
	300,000	PowerTeam Services LLC (a)	9.03%	12/04/25		304,929
		Entertainment — 0.4%
	515,000	Churchill Downs, Inc. (a)	5.50%	04/01/27		519,411
	95,000	Churchill Downs, Inc. (a)	4.75%	01/15/28		91,658
	117,000	Live Nation Entertainment, Inc. (a)	4.75%	10/15/27		108,788
						719,857
		Environmental Control — 0.6%
	200,000	Clean Harbors, Inc. (a)	4.88%	07/15/27		207,463
	75,000	Republic Services, Inc.	3.95%	05/15/28		86,418
	500,000	Waste Management, Inc	3.20%	06/15/26		547,838
	370,000	Waste Pro USA, Inc. (a)	5.50%	02/15/26		366,827
						1,208,546
		Food — 2.4%
	250,000	Campbell Soup Co., 3 Mo. LIBOR + 0.63% (b)	1.37%	03/15/21		249,562
	250,000	Conagra Brands, Inc., 3 Mo. LIBOR + 0.50% (b)	1.82%	10/09/20		249,782
	250,000	Conagra Brands, Inc.	4.60%	11/01/25		287,875
	650,000	General Mills, Inc.	4.00%	04/17/25		738,387
	105,000	General Mills, Inc.	4.70%	04/17/48		138,973
	70,000	Kraft Heinz Foods Co.	5.00%	07/15/35		75,509
	100,000	Kraft Heinz Foods Co. (a)	7.13%	08/01/39		123,052
	55,000	Kraft Heinz Foods Co.	5.00%	06/04/42		56,736
	65,000	Kraft Heinz Foods Co.	5.20%	07/15/45		66,945
	765,000	Kraft Heinz Foods Co.	4.38%	06/01/46		724,570
	960,000	Kraft Heinz Foods Co. (a)	4.88%	10/01/49		957,235
	290,000	Kroger (The) Co.	4.45%	02/01/47		350,667
	20,000	Pilgrim’s Pride Corp. (a)	5.88%	09/30/27		20,846
	20,000	Post Holdings, Inc. (a)	4.63%	04/15/30		19,788
	387,000	Smithfield Foods, Inc. (a)	5.20%	04/01/29		407,082
						4,467,009
		Forest Products & Paper — 0.3%
	540,000	Georgia-Pacific LLC (a)	5.40%	11/01/20		550,746
		Gas — 0.4%
	70,000	NiSource, Inc.	3.65%	06/15/23		75,032
	500,000	Southern Co. Gas Capital Corp.	5.88%	03/15/41		651,282
						726,314
		Healthcare-Products — 0.8%
	500,000	Boston Scientific Corp.	3.45%	03/01/24		535,460
	150,000	Fresenius US Finance II, Inc. (a)	4.25%	02/01/21		150,477
	208,000	Hologic, Inc. (a)	4.63%	02/01/28		216,020
	600,000	Zimmer Biomet Holdings, Inc.	3.55%	03/20/30		637,042
						1,538,999
		Healthcare-Services — 3.3%
	615,000	Anthem, Inc.	3.35%	12/01/24		671,324
	635,000	Barnabas Health, Inc., Series 2012	4.00%	07/01/28		696,530

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Healthcare-Services (Continued)
$	99,000	Centene Corp. (a)	5.25%	04/01/25	$	102,372
	250,000	Centene Corp.	4.63%	12/15/29		270,277
	534,000	Centene Corp.	3.38%	02/15/30		541,511
	320,000	Encompass Health Corp.	4.75%	02/01/30		325,403
	525,000	Fresenius Medical Care US Finance II, Inc. (a)	4.13%	10/15/20		525,949
	260,000	HCA, Inc.	5.00%	03/15/24		286,549
	90,000	HCA, Inc.	5.25%	04/15/25		102,066
	640,000	HCA, Inc.	5.25%	06/15/49		756,133
	100,000	Humana, Inc.	3.15%	12/01/22		104,851
	105,000	Humana, Inc.	3.13%	08/15/29		113,232
	90,000	Humana, Inc.	4.95%	10/01/44		116,616
	235,000	Partners Healthcare System, Inc., Series 2020	3.34%	07/01/60		245,381
	340,000	Quest Diagnostics, Inc.	4.20%	06/30/29		388,534
	150,000	Tenet Healthcare Corp.	4.63%	07/15/24		152,266
	500,000	Tenet Healthcare Corp. (a)	5.13%	11/01/27		518,283
	150,000	UnitedHealth Group, Inc.	3.70%	08/15/49		177,777
	155,000	UnitedHealth Group, Inc.	2.90%	05/15/50		161,754
						6,256,808
		Household Products/Wares — 0.0%
	60,000	Spectrum Brands, Inc.	6.13%	12/15/24		61,719
		Insurance — 1.5%
	280,000	Aon Corp.	2.80%	05/15/30		295,506
	205,000	Berkshire Hathaway Finance Corp.	4.20%	08/15/48		256,386
	295,000	Berkshire Hathaway Finance Corp.	4.25%	01/15/49		371,224
	465,000	Farmers Insurance Exchange (a) (c)	4.75%	11/01/57		471,739
	750,000	MassMutual Global Funding II (a)	3.40%	03/08/26		826,508
	150,000	Pricoa Global Funding I (a)	3.45%	09/01/23		161,191
	175,000	Teachers Insurance & Annuity Association of America (a) (c)	4.38%	09/15/54		183,896
	325,000	Willis North America, Inc.	2.95%	09/15/29		335,528
						2,901,978
		Media — 1.5%
	609,000	CCO Holdings LLC / CCO Holdings Capital Corp. (a)	4.50%	08/15/30		633,266
	600,000	Charter Communications Operating LLC / Charter Communications Operating Capital	5.75%	04/01/48		739,511
	20,000	CSC Holdings LLC (a)	5.38%	02/01/28		21,321
	287,000	CSC Holdings LLC (a)	6.50%	02/01/29		317,509
	100,000	NBCUniversal Media LLC	2.88%	01/15/23		106,454
	150,000	Sirius XM Radio, Inc. (a)	3.88%	08/01/22		150,842
	390,000	Walt Disney (The) Co.	4.00%	10/01/23		425,887
	190,000	Walt Disney (The) Co.	2.65%	01/13/31		202,633
	140,000	Walt Disney (The) Co.	3.60%	01/13/51		155,993
						2,753,416
		Miscellaneous Manufacturing — 0.3%
	205,000	General Electric Co., Medium-Term Note	5.88%	01/14/38		229,313
	300,000	Ingersoll-Rand Co.	9.00%	08/15/21		324,959
						554,272
		Oil & Gas — 1.3%
	88,000	Antero Resources Corp.	5.13%	12/01/22		61,796
	100,000	Antero Resources Corp.	5.63%	06/01/23		58,312

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Oil & Gas (Continued)
$	236,000	Antero Resources Corp.	5.00%	03/01/25	$	132,897
	175,000	BP Capital Markets America, Inc.	3.63%	04/06/30		196,714
	280,000	Chevron Corp.	2.24%	05/11/30		294,576
	435,000	EQT Corp.	3.90%	10/01/27		383,072
	275,000	Exxon Mobil Corp.	2.61%	10/15/30		292,248
	165,000	Exxon Mobil Corp.	4.23%	03/19/40		201,519
	515,000	Exxon Mobil Corp.	4.33%	03/19/50		645,930
	120,000	Range Resources Corp.	4.88%	05/15/25		100,725
						2,367,789
		Oil & Gas Services — 0.2%
	340,000	USA Compression Partners L.P. / USA Compression Finance Corp.	6.88%	04/01/26		328,046
		Packaging & Containers — 0.7%
	490,000	Amcor Finance USA, Inc.	4.50%	05/15/28		526,954
	58,000	Ball Corp.	4.00%	11/15/23		61,132
	61,000	Berry Global, Inc. (a)	4.88%	07/15/26		63,907
	58,000	Graphic Packaging International LLC	4.88%	11/15/22		60,089
	75,000	Matthews International Corp. (a)	5.25%	12/01/25		68,148
	20,000	Mauser Packaging Solutions Holding Co. (a)	5.50%	04/15/24		19,912
	60,000	Sealed Air Corp. (a)	5.50%	09/15/25		65,019
	20,000	Sealed Air Corp. (a)	4.00%	12/01/27		20,163
	405,000	WRKCo, Inc.	4.65%	03/15/26		460,159
						1,345,483
		Pharmaceuticals — 3.8%
	85,000	AbbVie, Inc. (a)	3.20%	11/21/29		92,214
	390,000	AbbVie, Inc. (a)	4.55%	03/15/35		457,639
	105,000	AbbVie, Inc. (a)	4.05%	11/21/39		117,658
	200,000	AbbVie, Inc.	4.88%	11/14/48		249,874
	610,000	AbbVie, Inc. (a)	4.25%	11/21/49		706,941
	100,000	Bayer US Finance II LLC (a)	3.50%	06/25/21		102,207
	180,000	Bayer US Finance II LLC (a)	4.25%	12/15/25		201,763
	1,055,000	Bayer US Finance II LLC (a)	4.38%	12/15/28		1,211,789
	265,000	Bayer US Finance II LLC (a)	4.63%	06/25/38		314,225
	100,000	Bayer US Finance II LLC (a)	4.40%	07/15/44		120,236
	55,000	Bayer US Finance II LLC (a)	4.88%	06/25/48		69,642
	400,000	Becton Dickinson and Co.	3.25%	11/12/20		403,761
	375,000	Becton Dickinson and Co., 3 Mo. LIBOR + 0.88% (b)	2.25%	12/29/20		374,937
	75,000	Cigna Corp. (a)	3.05%	10/15/27		80,678
	795,000	Cigna Corp.	4.38%	10/15/28		935,080
	120,000	Cigna Corp.	2.40%	03/15/30		124,132
	70,000	Cigna Corp.	4.90%	12/15/48		92,102
	970,000	CVS Health Corp.	5.05%	03/25/48		1,248,175
	182,000	Elanco Animal Health, Inc.	5.02%	08/28/23		193,105
						7,096,158
		Pipelines — 1.9%
	90,000	Cheniere Energy Partners L.P.	5.25%	10/01/25		91,520
	70,000	Energy Transfer Operating L.P.	5.00%	05/15/50		67,401
	370,000	Kinder Morgan, Inc.	5.55%	06/01/45		455,941
	92,130	Pipeline Funding Co. LLC (a)	7.50%	01/15/30		108,498
	145,000	Plains All American Pipeline L.P. / PAA Finance Corp.	4.65%	10/15/25		148,169
	350,000	Rockies Express Pipeline LLC (a)	4.95%	07/15/29		326,305

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Pipelines (Continued)
$	100,000	Rockies Express Pipeline LLC (a)	6.88%	04/15/40	$	97,330
	61,364	Ruby Pipeline LLC (a)	7.00%	04/01/22		57,458
	100,000	Sabine Pass Liquefaction LLC	5.63%	03/01/25		111,680
	400,000	Spectra Energy Partners L.P.	4.60%	06/15/21		413,541
	50,000	Sunoco Logistics Partners Operations L.P.	4.00%	10/01/27		50,136
	930,000	Sunoco Logistics Partners Operations L.P.	5.40%	10/01/47		927,273
	75,000	TC PipeLines L.P.	3.90%	05/25/27		76,913
	54,000	TransMontaigne Partners L.P. / TLP Finance Corp.	6.13%	02/15/26		51,108
	510,000	Williams Cos., (The), Inc.	3.75%	06/15/27		543,474
						3,526,747
		Real Estate Investment Trusts — 6.7%
	450,000	Alexandria Real Estate Equities, Inc.	3.80%	04/15/26		493,878
	75,000	Alexandria Real Estate Equities, Inc., Class E	3.45%	04/30/25		82,666
	75,000	American Campus Communities Operating Partnership L.P.	3.75%	04/15/23		75,356
	500,000	American Campus Communities Operating Partnership L.P.	4.13%	07/01/24		497,061
	300,000	Boston Properties L.P.	4.13%	05/15/21		306,275
	250,000	Boston Properties L.P.	2.75%	10/01/26		258,455
	200,000	Boston Properties L.P.	3.40%	06/21/29		210,669
	550,000	Camden Property Trust	2.95%	12/15/22		565,142
	500,000	CubeSmart L.P.	4.38%	02/15/29		545,632
	515,000	CyrusOne L.P. / CyrusOne Finance Corp.	2.90%	11/15/24		518,880
	665,000	CyrusOne L.P. / CyrusOne Finance Corp.	3.45%	11/15/29		658,543
	250,000	Digital Realty Trust L.P.	3.95%	07/01/22		261,605
	500,000	Digital Realty Trust L.P.	3.63%	10/01/22		519,365
	325,000	Essex Portfolio L.P.	3.63%	08/15/22		334,469
	200,000	GLP Capital L.P. / GLP Financing II, Inc.	5.38%	11/01/23		201,109
	250,000	GLP Capital L.P. / GLP Financing II, Inc.	5.38%	04/15/26		250,579
	175,000	GLP Capital L.P. / GLP Financing II, Inc.	5.75%	06/01/28		174,415
	185,000	GLP Capital L.P. / GLP Financing II, Inc.	5.30%	01/15/29		178,137
	115,000	GLP Capital L.P. / GLP Financing II, Inc.	4.00%	01/15/30		100,672
	575,000	Healthcare Realty Trust, Inc.	3.75%	04/15/23		577,882
	575,000	Healthcare Trust of America Holdings L.P.	3.70%	04/15/23		589,117
	47,000	Healthpeak Properties, Inc.	4.25%	11/15/23		49,438
	75,000	Healthpeak Properties, Inc.	4.00%	06/01/25		78,687
	500,000	Hudson Pacific Properties L.P.	3.95%	11/01/27		496,488
	175,000	Hudson Pacific Properties L.P.	4.65%	04/01/29		179,736
	400,000	Kilroy Realty L.P.	3.45%	12/15/24		401,263
	400,000	Kilroy Realty L.P.	4.38%	10/01/25		412,867
	500,000	Kimco Realty Corp.	3.40%	11/01/22		516,651
	117,000	MGM Growth Properties Operating Partnership L.P. / MGP Finance Co.-Issuer, Inc.	5.63%	05/01/24		121,985
	250,000	National Retail Properties, Inc.	3.90%	06/15/24		258,470
	40,000	SBA Communications Corp.	4.88%	09/01/24		41,362
	225,000	SL Green Operating Partnership L.P., 3 Mo. LIBOR + 0.98% (b)	1.37%	08/16/21		218,358
	325,000	SL Green Operating Partnership L.P.	3.25%	10/15/22		319,671
	300,000	Ventas Realty L.P.	3.75%	05/01/24		301,279
	250,000	Ventas Realty L.P.	2.65%	01/15/25		238,810
	75,000	Ventas Realty L.P.	4.00%	03/01/28		74,207
	250,000	VEREIT Operating Partnership L.P.	4.63%	11/01/25		246,388
	1,000,000	WEA Finance LLC (a)	3.15%	04/05/22		1,000,329
	250,000	Welltower, Inc.	3.75%	03/15/23		258,554
						12,614,450

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
CORPORATE BONDS AND NOTES (Continued)
		Retail — 0.8%
$	100,000	Family Dollar Stores, Inc.	5.00%	02/01/21	$	101,842
	75,000	Home Depot (The), Inc.	3.90%	12/06/28		89,595
	173,000	Rite Aid Corp. (a)	6.13%	04/01/23		161,430
	75,000	Starbucks Corp.	3.80%	08/15/25		83,772
	160,000	Starbucks Corp.	2.25%	03/12/30		161,617
	100,000	Walgreen Co.	3.10%	09/15/22		104,524
	300,000	Walgreens Boots Alliance, Inc.	3.30%	11/18/21		308,885
	435,000	Walgreens Boots Alliance, Inc.	4.80%	11/18/44		467,831
						1,479,496
		Semiconductors — 0.8%
	545,000	Broadcom Corp. / Broadcom Cayman Finance Ltd.	3.63%	01/15/24		574,072
	205,000	Broadcom, Inc. (a)	3.63%	10/15/24		217,860
	615,000	Intel Corp.	3.73%	12/08/47		725,663
						1,517,595
		Software — 0.1%
	20,000	Change Healthcare Holdings LLC / Change Healthcare Finance, Inc. (a)	5.75%	03/01/25		20,034
	190,000	Fiserv, Inc.	2.65%	06/01/30		196,700
	20,000	SS&C Technologies, Inc. (a)	5.50%	09/30/27		21,053
						237,787
		Telecommunications — 2.6%
	150,000	AT&T, Inc.	4.50%	05/15/35		169,137
	594,000	AT&T, Inc.	4.85%	03/01/39		695,712
	25,000	AT&T, Inc.	4.80%	06/15/44		28,916
	755,000	AT&T, Inc.	4.75%	05/15/46		881,492
	289,000	Level 3 Financing, Inc.	5.38%	01/15/24		293,666
	20,000	Level 3 Financing, Inc. (a)	4.63%	09/15/27		20,542
	54,000	Qwest Corp.	6.75%	12/01/21		56,941
	125,000	Qwest Corp.	7.25%	09/15/25		140,235
	335,000	SES GLOBAL Americas Holdings G.P. (a)	5.30%	03/25/44		320,022
	320,000	Sprint Corp.	7.88%	09/15/23		364,034
	1,005,000	Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC (a)	4.74%	03/20/25		1,068,963
	90,000	T-Mobile USA, Inc.	6.00%	03/01/23		91,166
	130,000	T-Mobile USA, Inc.	6.50%	01/15/24		133,303
	238,000	T-Mobile USA, Inc.	6.00%	04/15/24		242,733
	74,000	T-Mobile USA, Inc.	4.75%	02/01/28		78,797
	125,000	T-Mobile USA, Inc. (a)	3.88%	04/15/30		135,904
	250,000	T-Mobile USA, Inc. (a)	4.38%	04/15/40		277,356
						4,998,919
		Trucking & Leasing — 0.2%
	500,000	Aviation Capital Group LLC, 3 Mo. LIBOR + 0.95% (a) (b)	1.30%	06/01/21		460,148
		Water — 0.1%
	250,000	American Water Capital Corp.	3.45%	06/01/29		281,335
		Total Corporate Bonds and Notes				88,500,196
		(Cost $83,289,269)

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 12.6%
		Collateralized Mortgage Obligations — 1.3%
		Federal National Mortgage Association
$	3,280,904	Series 2011-116, Class SA, IO, 1 Mo. LIBOR × -1 + 6.00% (e)	5.83%	11/25/41	$	650,133
	532,547	Series 2011-130, Class NW, 1 Mo. LIBOR + 1.20% (b)	1.57%	12/25/41		550,146
	515,854	Series 2012-128, Class UA	2.50%	06/25/42		550,884
	2,438,222	Series 2013-18, Class MI, IO	3.00%	02/25/33		172,956
		Government National Mortgage Association
	1,659,663	Series 2003-110, Class S, IO, 1 Mo. LIBOR × -1 + 6.60% (e)	6.43%	10/20/33		283,793
	2,353,216	Series 2018-63, Class IO, IO	4.00%	09/20/47		298,828
						2,506,740
		Commercial Mortgage-Backed Securities — 5.3%
		Federal National Mortgage Association
	1,393	Series 2010-M4, Class A3	3.82%	06/25/20		1,393
	5,609,649	Series 2012-M4, Class X1, IO (f) (g)	0.43%	04/25/22		42,923
	2,070,758	Series 2014-M6, Class X2, IO (f) (h)	0.27%	05/25/21		3,477
	28,973,129	Series 2015-M4, Class X2, IO (f)	0.39%	07/25/22		204,655
	641,078	Series 2016-M2, Class AL	3.47%	04/25/36		659,519
	267,659	Series 2016-M2, Class X3, IO (f) (h)	2.02%	04/25/36		6,023
	3,091,222	Series 2016-M4, Class X2, IO (f)	2.65%	01/25/39		220,660
	383,209	Series 2016-M11, Class X2, IO (f)	2.75%	07/25/39		11,994
	6,100,000	Series 2019-M29, Class X4, IO (b)	0.70%	03/25/29		303,031
	3,900,000	Series 2019-M32, Class X2, IO (g)	1.06%	10/25/29		294,512
		Freddie Mac Multifamily PC REMIC Trust
	4,095,000	Series 2019-P002, Class X, IO (g)	1.14%	07/25/33		464,744
		Freddie Mac Multifamily Structured Pass Through Certificates
	2,000,000	Series 2011-K010, Class X3, IO (f)	4.59%	11/25/44		12,608
	3,000,000	Series 2011-K011, Class X3, IO (f)	2.57%	12/25/43		20,026
	5,413,749	Series 2011-K012, Class X3, IO (f)	2.25%	01/25/41		40,532
	550,000	Series 2011-KAIV, Class X2, IO (f)	3.61%	06/25/41		14,755
	8,139,000	Series 2012-K021, Class X3, IO (f)	1.97%	07/25/40		282,283
	2,500,000	Series 2012-K022, Class X3, IO (f)	1.81%	08/25/40		84,882
	11,075,000	Series 2013-K025, Class X3, IO (f)	1.75%	11/25/40		414,897
	76,995,825	Series 2013-K031, Class X1, IO (f)	0.21%	04/25/23		423,177
	17,932,967	Series 2013-K035, Class X1, IO (f)	0.37%	08/25/23		186,368
	4,000,000	Series 2013-K035, Class X3, IO (f)	1.79%	12/25/41		193,088
	2,500,000	Series 2014-K037, Class X3, IO (f)	2.21%	01/25/42		168,997
	2,145,000	Series 2014-K039, Class X3, IO (f)	2.11%	08/25/42		183,666
	37,598,715	Series 2014-K714, Class X3, IO (f)	1.86%	01/25/42		93,384
	11,000,000	Series 2014-K715, Class X3, IO (f)	2.02%	02/25/41		177,389
	30,235,000	Series 2014-K716, Class X3, IO (f)	1.80%	08/25/42		584,896
	9,587,799	Series 2015-K042, Class X1, IO (f)	1.04%	12/25/24		382,236
	14,451,276	Series 2015-K044, Class X1, IO (f)	0.74%	01/25/25		393,317
	8,701,179	Series 2015-K045, Class X1, IO (f)	0.44%	01/25/25		151,141
	494,495	Series 2015-K719, Class X1, IO (f) (h)	0.66%	06/25/22		315
	1,395,266	Series 2015-K720, Class X1, IO (f)	0.52%	08/25/22		11,288
	1,900,000	Series 2016-K060, Class X3, IO (f)	1.89%	12/25/44		192,856
	5,119,002	Series 2016-KIR1, Class X, IO (f)	1.07%	03/25/26		267,245
	10,028,199	Series 2016-KS05, Class X, IO (f)	0.76%	01/25/23		141,241
	3,769,177	Series 2016-KS06, Class X, IO (f)	1.07%	08/25/26		180,902
	5,000,000	Series 2016-KS07, Class X, IO (f)	0.65%	09/25/25		153,619
	6,922,237	Series 2016-KW01, Class X1, IO (f)	0.97%	01/25/26		295,679
	11,929,853	Series 2017-K726, Class X1, IO (f)	0.88%	04/25/24		324,706
	2,230,000	Series 2017-K728, Class X3, IO (f)	1.95%	11/25/45		160,835

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)
		Commercial Mortgage-Backed Securities (Continued)
		Freddie Mac Multifamily Structured Pass Through Certificates (Continued)
$	690,272	Series 2017-Q006, Class APT1 (b)	2.66%	07/25/26	$	689,338
	125,000	Series 2018-K155, Class A3	3.75%	04/25/33		154,746
	125,000	Series 2018-W5FX, Class AFX (f)	3.21%	04/25/28		141,691
	1,364,959	Series 2019-KC04, Class X1, IO (f)	1.25%	12/25/26		81,499
	7,193,949	Series 2019-KC05, Class X1, IO (f)	1.20%	06/25/27		436,549
	1,800,000	Series 2019-KS11, Class XFX, IO (f)	1.60%	06/25/29		201,506
	1,200,000	Series 2020-K105, Class X3, IO (f)	2.04%	06/25/30		169,073
	4,647,401	Series 2020-K737, Class X1, IO (g)	0.64%	10/25/26		162,056
		Government National Mortgage Association
	755,488	Series 2013-125, Class IO, IO (g)	0.63%	10/16/54		19,091
	3,193,874	Series 2014-125, Class IO, IO (g)	0.95%	11/16/54		170,741
						9,975,549
		Pass-through Securities — 6.0%
		Federal Home Loan Mortgage Corporation
	441,398	Pool WA3208	3.98%	04/01/34		524,188
	295,333	Pool WA3303	3.83%	05/01/35		350,025
	578,584	Pool WN0006	3.42%	07/01/30		669,224
		Federal National Mortgage Association
	487,980	Pool AM2974	4.10%	04/01/43		549,018
	743,926	Pool AM9897	3.50%	09/01/35		876,809
	326,000	Pool BL1882	3.60%	03/01/34		390,614
	648,003	Pool BL5962	2.38%	03/01/30		703,565
	6,875,000	Pool TBA (i)	2.50%	07/15/35		7,183,452
						11,246,895
		Total U.S. Government Agency Mortgage-Backed Securities				23,729,184
		(Cost $23,774,226)
MORTGAGE-BACKED SECURITIES — 11.4%
		Collateralized Mortgage Obligations — 11.3%
		Adjustable Rate Mortgage Trust
	136,612	Series 2005-8, Class 3A21 (f)	4.07%	11/25/35		114,887
		Alternative Loan Trust
	325,542	Series 2005-16, Class A3, 1 Mo. LIBOR + 0.50% (b)	0.67%	06/25/35		289,218
	104,572	Series 2005-76, Class 1A1, 12 Mo. Treasury Average + 1.48% (b)	3.17%	01/25/36		95,741
	379,193	Series 2006-33CB, Class 2A1	6.00%	11/25/36		303,710
	335,631	Series 2007-OA6, Class A1B, 1 Mo. LIBOR + 0.20% (b)	0.37%	06/25/37		291,420
		American Home Mortgage Assets Trust
	950,807	Series 2007-1, Class A1, 12 Mo. Treasury Average + 0.70% (b)	2.39%	02/25/47		509,045
		American Home Mortgage Investment Trust
	817,233	Series 2005-4, Class 1A1, 1 Mo. LIBOR + 0.58% (b)	0.75%	11/25/45		723,671
		BCAP LLC Trust
	399,953	Series 2007-AA3, Class 1A1A, 1 Mo. LIBOR + 0.21% (b)	0.38%	04/25/37		326,806
	1,000,000	Series 2015-RR2, Class 25A3 (a) (f)	0.70%	10/28/36		884,404
		Bear Stearns ALT-A Trust
	969,935	Series 2004-8, Class M1, 1 Mo. LIBOR + 0.92% (b)	1.08%	09/25/34		930,325

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
MORTGAGE-BACKED SECURITIES (Continued)
		Collateralized Mortgage Obligations (Continued)
		Bear Stearns Mortgage Funding Trust
$	854,759	Series 2006-AR1, Class 1A1, 1 Mo. LIBOR + 0.21% (b)	0.38%	07/25/36	$	744,288
	601,687	Series 2006-AR3, Class 1A1, 1 Mo. LIBOR + 0.18% (b)	0.35%	10/25/36		534,119
	287,135	Series 2007-AR1, Class 1A1, 1 Mo. LIBOR + 0.16% (b)	0.33%	01/25/37		227,534
	283,087	Series 2007-AR3, Class 1A1, 1 Mo. LIBOR + 0.14% (b)	0.31%	03/25/37		252,895
		CIM Trust
	225,375	Series 2017-8, Class A1 (a)	3.00%	12/25/65		223,628
	288,158	Series 2018-R6, Class A1, 1 Mo. LIBOR + 1.08% (a) (b)	1.45%	09/25/58		284,095
		Credit Suisse Mortgage Trust
	269,626	Series 2010-7R, Class 1A12 (a)	4.00%	01/26/37		270,591
	93,659	Series 2014-2R, Class 28A1 (a) (f)	3.00%	06/27/37		92,813
		DSLA Mortgage Loan Trust
	86,985	Series 2004-AR4, Class 2A1A, 1 Mo. LIBOR + 0.36% (b)	0.53%	01/19/45		72,138
		First Horizon Alternative Mortgage Securities Trust
	62,366	Series 2004-AA4, Class A1 (f)	3.57%	10/25/34		60,407
		GreenPoint Mortgage Funding Trust
	97,108	Series 2006-AR1, Class A1A, 1 Mo. LIBOR + 0.58% (b)	0.75%	02/25/36		92,875
	558,314	Series 2007-AR1, Class 2A1A, 1 Mo. LIBOR + 0.20% (b)	0.37%	03/25/47		513,615
		GreenPoint MTA Trust
	548,720	Series 2005-AR3, Class 1A1, 1 Mo. LIBOR + 0.24% (b)	0.41%	08/25/45		477,428
		HarborView Mortgage Loan Trust
	237,723	Series 2005-9, Class 2A1A, 1 Mo. LIBOR + 0.34% (b)	0.51%	06/20/35		233,918
	95,089	Series 2005-9, Class 2A1C, 1 Mo. LIBOR + 0.45% (b)	0.62%	06/20/35		87,460
	751,328	Series 2007-7, Class 1A1, 1 Mo. LIBOR + 1.00% (b)	1.17%	10/25/37		643,076
		HomeBanc Mortgage Trust
	323,370	Series 2005-4, Class A1, 1 Mo. LIBOR + 0.27% (b)	0.44%	10/25/35		322,027
		Impac CMB Trust
	95,226	Series 2005-1, Class 1A1, 1 Mo. LIBOR + 0.52% (b)	0.69%	04/25/35		89,829
		IndyMac INDX Mortgage Loan Trust
	508,981	Series 2005-16IP, Class A1, 1 Mo. LIBOR + 0.64% (b)	0.81%	07/25/45		439,289
	742,181	Series 2006-AR4, Class A1A, 1 Mo. LIBOR + 0.21% (b)	0.38%	05/25/46		666,411
	315,978	Series 2006-AR21, Class A1, 1 Mo. LIBOR + 0.12% (b)	0.29%	08/25/36		270,742
	201,175	Series 2007-FLX2, Class A1C, 1 Mo. LIBOR + 0.19% (b)	0.36%	04/25/37		173,568
		JP Morgan Alternative Loan Trust
	106,283	Series 2007-S1, Class A2, 1 Mo. LIBOR + 0.34% (b)	0.51%	04/25/47		97,514
		Lehman XS Trust
	401,676	Series 2005-5N, Class 3A1A, 1 Mo. LIBOR + 0.30% (b)	0.47%	11/25/35		386,220
		MASTR Adjustable Rate Mortgages Trust
	568,749	Series 2007-2, Class A1, 1 Mo. LIBOR + 0.15% (b)	0.32%	03/25/47		514,048
		Merrill Lynch Mortgage Investors Trust
	228,393	Series 2003-D, Class A, 1 Mo. LIBOR + 0.62% (b)	0.79%	08/25/28		217,406
	378,474	Series 2004-E, Class A2B, 6 Mo. LIBOR + 0.72% (b)	1.69%	11/25/29		369,277
		Morgan Stanley Resecuritization Trust
	88,944	Series 2014-R8, Class 3B1, 12 Mo. Treasury Average + 0.75% (a) (b)	2.51%	06/26/47		85,046
		Opteum Mortgage Acceptance Corp. Trust
	725,656	Series 2006-1, Class 1AC1, 1 Mo. LIBOR + 0.30% (b)	0.47%	04/25/36		657,735
		Structured Adjustable Rate Mortgage Loan Trust
	60,740	Series 2005-12, Class 3A1 (f)	3.80%	06/25/35		57,401
	626,341	Series 2006-11, Class 1A1, 1 Mo. LIBOR + 0.16% (b)	0.33%	12/25/36		567,025
	850,430	Series 2007-4, Class 1A2, 1 Mo. LIBOR + 0.22% (b)	0.39%	05/25/37		784,172
		Structured Asset Mortgage Investments II Trust
	433,285	Series 2005-AR2, Class 2A1, 1 Mo. LIBOR + 0.46% (b)	0.63%	05/25/45		402,243

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
MORTGAGE-BACKED SECURITIES (Continued)
		Collateralized Mortgage Obligations (Continued)
		Structured Asset Mortgage Investments II Trust (Continued)
$	604,139	Series 2006-AR1, Class 3A1, 1 Mo. LIBOR + 0.23% (b)	0.40%	02/25/36	$	533,465
	564,813	Series 2006-AR3, Class 12A1, 1 Mo. LIBOR + 0.22% (b)	0.39%	05/25/36		524,979
	548,493	Series 2006-AR4, Class 3A1, 1 Mo. LIBOR + 0.19% (b)	0.36%	06/25/36		468,381
	78,452	Series 2006-AR5, Class 1A1, 1 Mo. LIBOR + 0.21% (b)	0.38%	05/25/36		69,039
	1,062,161	Series 2006-AR8, Class A1A, 1 Mo. LIBOR + 0.20% (b)	0.37%	10/25/36		960,058
	808,196	Series 2007-AR1, Class 1A1, 1 Mo. LIBOR + 0.16% (b)	0.33%	01/25/37		709,338
	322,799	Series 2007-AR1, Class 2A1, 1 Mo. LIBOR + 0.18% (b)	0.35%	01/25/37		258,362
		Structured Asset Mortgage Investments Trust
	201,344	Series 2003-AR3, Class A1, 1 Mo. LIBOR + 0.68% (b)	0.85%	11/19/33		192,467
		WaMu Mortgage Pass-Through Certificates Trust
	197,610	Series 2004-AR12, Class A2A, 1 Mo. LIBOR + 0.78% (b)	0.95%	10/25/44		188,297
	483,864	Series 2006-AR3, Class A1A, 12 Mo. Treasury Average + 1.00% (b)	2.69%	02/25/46		454,471
	73,050	Series 2006-AR11, Class 1A, 12 Mo. Treasury Average + 0.96% (b)	2.65%	09/25/46		63,008
	1,138,586	Series 2007-OA5, Class 1A, 12 Mo. Treasury Average + 0.75% (b)	2.44%	06/25/47		1,005,267
		Wells Fargo Mortgage Backed Securities Trust
	415,955	Series 2007-AR5, Class A1 (f)	4.54%	10/25/37		371,340
						21,178,532
		Commercial Mortgage-Backed Obligations — 0.1%
		COMM Mortgage Trust
	1,550,607	Series 2012-CR4, Class XA, IO (f)	1.69%	10/15/45		54,815
	5,600,000	Series 2020-CBM, Class XCP, IO (a) (f)	0.49%	02/10/37		121,716
		GS Mortgage Securities Corp Trust
	2,600,000	Series 2020-UPTN, Class XA, IO (a) (f)	0.35%	02/10/37		41,743
						218,274
		Total Mortgage-Backed Securities				21,396,806
		(Cost $22,771,361)

Principal Value (Local Currency)		Description	Stated Coupon	Stated Maturity	Value (U.S. Dollar)
FOREIGN CORPORATE BONDS AND NOTES — 10.6%
		Banks — 1.2%
	200,000	Global Bank Corp. (USD) (c) (j)	5.25%	04/16/29		196,313
	125,000	Lloyds Bank PLC (USD)	3.30%	05/07/21		128,052
	200,000	Lloyds Banking Group PLC (USD)	3.90%	03/12/24		215,095
	665,000	Lloyds Banking Group PLC (USD) (c)	3.87%	07/09/25		707,011
	250,000	Santander UK Group Holdings PLC (USD) (c)	4.80%	11/15/24		274,407
	650,000	Santander UK PLC (USD)	3.40%	06/01/21		667,513
						2,188,391
		Beverages — 0.2%
	170,000	Bacardi Ltd. (USD) (a)	4.70%	05/15/28		187,523
	15,000	Bacardi Ltd. (USD) (a)	5.30%	05/15/48		18,073
	125,000	Pernod Ricard S.A. (USD) (a)	4.45%	01/15/22		132,106
						337,702

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value (Local Currency)		Description	Stated Coupon	Stated Maturity	Value (U.S. Dollar)
FOREIGN CORPORATE BONDS AND NOTES (Continued)
		Commercial Services — 0.7%
	200,000	DP World Crescent Ltd. (USD) (a)	4.85%	09/26/28	$	206,472
	580,000	IHS Markit Ltd. (USD) (a)	4.75%	02/15/25		633,511
	465,000	IHS Markit Ltd. (USD)	4.75%	08/01/28		535,650
						1,375,633
		Diversified Financial Services — 1.9%
	600,000	AerCap Ireland Capital DAC / AerCap Global Aviation Trust (USD)	4.50%	05/15/21		584,894
	20,000	AerCap Ireland Capital DAC / AerCap Global Aviation Trust (USD)	3.95%	02/01/22		18,846
	110,000	AerCap Ireland Capital DAC / AerCap Global Aviation Trust (USD)	3.50%	05/26/22		102,020
	55,000	AerCap Ireland Capital DAC / AerCap Global Aviation Trust (USD)	4.13%	07/03/23		49,063
	115,000	AerCap Ireland Capital DAC / AerCap Global Aviation Trust (USD)	3.88%	01/23/28		95,066
	74,000	Avolon Holdings Funding Ltd. (USD) (a)	5.13%	10/01/23		62,643
	20,000	Avolon Holdings Funding Ltd. (USD) (a)	5.25%	05/15/24		16,908
	100,000	Avolon Holdings Funding Ltd. (USD) (a)	3.95%	07/01/24		82,660
	185,000	Avolon Holdings Funding Ltd. (USD) (a)	2.88%	02/15/25		141,903
	1,690,000	GE Capital International Funding Co. Unlimited Co. (USD)	4.42%	11/15/35		1,692,361
	250,000	Park Aerospace Holdings Ltd. (USD) (a)	3.63%	03/15/21		230,159
	165,000	Park Aerospace Holdings Ltd. (USD) (a)	5.25%	08/15/22		145,740
	90,000	Park Aerospace Holdings Ltd. (USD) (a)	4.50%	03/15/23		76,336
	290,000	Park Aerospace Holdings Ltd. (USD) (a)	5.50%	02/15/24		249,502
						3,548,101
		Electric — 0.1%
	250,000	Mong Duong Finance Holdings B.V. (USD) (j)	5.13%	05/07/29		246,848
		Environmental Control — 0.5%
	344,000	GFL Environmental, Inc. (USD) (a)	5.13%	12/15/26		358,835
	600,000	Waste Connections, Inc. (USD)	2.60%	02/01/30		612,482
						971,317
		Food — 0.0%
	20,000	JBS USA LUX S.A. / JBS USA Food Co. / JBS USA Finance, Inc. (USD) (a)	5.50%	01/15/30		20,796
		Internet — 0.2%
	300,000	Tencent Holdings Ltd. (USD) (a)	3.98%	04/11/29		337,267
		Machinery-Diversified — 0.1%
	110,000	Titan Acquisition Ltd. / Titan Co.-Borrower LLC (USD) (a)	7.75%	04/15/26		102,895
		Media — 0.3%
	200,000	Virgin Media Secured Finance PLC (USD) (a)	5.50%	08/15/26		209,081
	270,000	Virgin Media Secured Finance PLC (USD) (a)	5.50%	05/15/29		284,125
						493,206
		Mining — 0.6%
	250,000	Corp. Nacional del Cobre de Chile (USD) (j)	3.63%	08/01/27		266,089
	200,000	Corp. Nacional del Cobre de Chile (USD) (j)	3.15%	01/14/30		206,727

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value (Local Currency)		Description	Stated Coupon	Stated Maturity	Value (U.S. Dollar)
FOREIGN CORPORATE BONDS AND NOTES (Continued)
		Mining (Continued)
	500,000	Indonesia Asahan Aluminium Persero PT (USD) (a)	6.53%	11/15/28	$	567,446
						1,040,262
		Miscellaneous Manufacturing — 0.0%
	40,000	Ingersoll-Rand Luxembourg Finance S.A. (USD)	3.55%	11/01/24		43,156
		Oil & Gas — 1.8%
	218,000	KazMunayGas National Co. JSC (USD) (j)	5.75%	04/19/47		246,377
	400,000	Pertamina Persero PT (USD) (a)	3.10%	08/25/30		397,452
	333,000	Petrobras Global Finance B.V. (USD) (a)	5.09%	01/15/30		317,870
	400,000	Petroleos del Peru S.A. (USD) (j)	4.75%	06/19/32		434,624
	270,000	Petroleos Mexicanos (USD) (a)	5.95%	01/28/31		218,268
	370,000	Petroleos Mexicanos (USD)	6.63%	06/15/35		297,922
	410,000	Petroleos Mexicanos (USD)	6.75%	09/21/47		315,411
	304,000	Petroleos Mexicanos (USD) (a)	7.69%	01/23/50		252,227
	110,000	Petroleos Mexicanos (USD) (a)	6.95%	01/28/60		85,381
	200,000	Petronas Capital Ltd. (USD) (a)	3.50%	04/21/30		220,037
	200,000	Saudi Arabian Oil Co. (USD) (j)	4.25%	04/16/39		218,182
	111,890	Transocean Pontus Ltd. (USD) (a)	6.13%	08/01/25		106,855
	293,000	Transocean Poseidon Ltd. (USD) (a)	6.88%	02/01/27		268,095
						3,378,701
		Packaging & Containers — 0.2%
	18,000	OI European Group B.V. (USD) (a)	4.00%	03/15/23		17,841
	350,000	Trivium Packaging Finance B.V. (USD) (a)	5.50%	08/15/26		367,993
						385,834
		Pharmaceuticals — 0.1%
	6,000	Bausch Health Cos., Inc. (USD) (a)	5.75%	08/15/27		6,435
	225,000	Shire Acquisitions Investments Ireland DAC (USD)	2.40%	09/23/21		229,455
						235,890
		Pipelines — 0.2%
	400,000	Southern Gas Corridor CJSC (USD) (j)	6.88%	03/24/26		461,469
		Retail — 0.3%
	510,000	Alimentation Couche-Tard, Inc. (USD) (a)	3.55%	07/26/27		536,546
		Savings & Loans — 0.6%
	630,000	Nationwide Building Society (USD) (a) (c)	3.62%	04/26/23		648,869
	135,000	Nationwide Building Society (USD) (a) (c)	3.77%	03/08/24		141,720
	325,000	Nationwide Building Society (USD) (a) (c)	4.36%	08/01/24		348,269
						1,138,858
		Semiconductors — 0.6%
	1,170,000	NXP B.V. / NXP Funding LLC (USD) (a)	4.13%	06/01/21		1,204,474
		Telecommunications — 0.9%
	200,000	C&W Senior Financing DAC (USD) (a)	6.88%	09/15/27		197,919
	625,000	Intelsat Jackson Holdings S.A. (USD) (a) (k)	8.50%	10/15/24		357,878
	18,000	Intelsat Jackson Holdings S.A. (USD) (a) (k)	9.75%	07/15/25		10,667
	125,000	Koninklijke KPN N.V. (USD)	8.38%	10/01/30		179,882
	200,000	SES S.A. (USD) (a)	3.60%	04/04/23		199,474
	100,000	Vodafone Group PLC (USD)	3.75%	01/16/24		108,856

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value (Local Currency)		Description	Stated Coupon	Stated Maturity	Value (U.S. Dollar)
FOREIGN CORPORATE BONDS AND NOTES (Continued)
		Telecommunications (Continued)
	250,000	Vodafone Group PLC (USD)	5.25%	05/30/48	$	325,758
	228,000	Vodafone Group PLC (USD)	4.88%	06/19/49		285,846
	80,000	Vodafone Group PLC (USD)	4.25%	09/17/50		92,303
						1,758,583
		Transportation — 0.1%
	200,000	Empresa de Transporte de Pasajeros Metro S.A. (USD) (a)	3.65%	05/07/30		213,850
		Total Foreign Corporate Bonds and Notes				20,019,779
		(Cost $20,166,677)

Principal Value		Description	Stated Coupon	Stated Maturity	Value
ASSET-BACKED SECURITIES — 8.5%
		321 Henderson Receivables LLC
$	328,815	Series 2013-2A, Class A (a)	4.21%	03/15/62		354,241
		ABFC Trust
	107,538	Series 2007-NC1, Class A2, 1 Mo. LIBOR + 0.30% (a) (b)	0.47%	05/25/37		99,708
		ACE Securities Corp. Home Equity Loan Trust
	1,053,396	Series 2006-HE3, Class A2C, 1 Mo. LIBOR + 0.15% (b)	0.32%	06/25/36		810,079
		Argent Securities, Inc.
	160,000	Series 2005-W3, Class M1, 1 Mo. LIBOR + 0.44% (b)	0.61%	11/25/35		149,591
		BCMSC Trust
	2,369,065	Series 2000-A, Class A5	8.32%	06/15/30		790,967
		Carrington Mortgage Loan Trust
	63,898	Series 2005-NC5, Class M1, 1 Mo. LIBOR + 0.48% (b)	0.65%	10/25/35		63,451
		Citigroup Mortgage Loan Trust
	1,254,177	Series 2006-HE3, Class A2B, 1 Mo. LIBOR + 0.10% (b)	0.27%	12/25/36		973,373
		Citigroup Mortgage Loan Trust, Inc.
	27,443	Series 2005-HE4, Class M1, 1 Mo. LIBOR + 0.41% (b)	0.58%	10/25/35		27,746
	425,000	Series 2007-WFH3, Class M1, 1 Mo. LIBOR + 0.26% (b)	0.43%	06/25/37		394,423
		Conseco Finance Corp.
	48,703	Series 1996-7, Class M1	7.70%	09/15/26		50,314
	1,588,533	Series 1999-3, Class A8	7.06%	02/01/31		1,561,413
		Corevest American Finance Trust
	405,000	Series 2020-1, Class A2 (a)	2.30%	03/15/50		395,642
	1,645,919	Series 2020-1, Class XA, IO (a) (f)	2.86%	03/15/50		198,736
		Countrywide Asset-Backed Certificates
	215,995	Series 2006-6, Class 1A1, 1 Mo. LIBOR + 0.17% (b)	0.34%	09/25/36		210,850
		Credit-Based Asset Servicing & Securitization LLC
	957,000	Series 2006-MH1, Class B1 (a) (l)	6.25%	10/25/36		979,843
		EquiFirst Mortgage Loan Trust
	116,437	Series 2005-1, Class M3, 1 Mo. LIBOR + 0.72% (b)	0.89%	04/25/35		115,516
		First Franklin Mortgage Loan Trust
	133,774	Series 2006-FF11, Class 2A3, 1 Mo. LIBOR + 0.15% (b)	0.32%	08/25/36		115,222
		Fremont Home Loan Trust
	81,540	Series 2005-D, Class 2A4, 1 Mo. LIBOR + 0.34% (b)	0.51%	11/25/35		80,139
		GSAMP Trust
	1,300,000	Series 2006-HE4, Class A2D, 1 Mo. LIBOR + 0.26% (b)	0.43%	06/25/36		1,200,918

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
ASSET-BACKED SECURITIES (Continued)
		JP Morgan Mortgage Acquisition Trust
$	716,411	Series 2006-WF1, Class A5, steps up to 6.91% after Redemption Date (m)	6.41%	07/25/36	$	331,486
		Mastr Asset Backed Securities Trust
	153,914	Series 2006-HE5, Class A3, 1 Mo. LIBOR + 0.16% (b)	0.33%	11/25/36		107,199
		Mid-State Capital Trust
	23,174	Series 2010-1, Class A (a)	3.50%	12/15/45		23,624
		Morgan Stanley ABS Capital I, Inc. Trust
	2,283,979	Series 2006-HE8, Class A2B, 1 Mo. LIBOR + 0.10% (b)	0.27%	10/25/36		1,160,837
		Navient Student Loan Trust
	32,098	Series 2014-1, Class A3, 1 Mo. LIBOR + 0.51% (b)	0.68%	06/25/31		30,769
		NovaStar Mortgage Funding Trust
	1,101,674	Series 2007-2, Class A1A, 1 Mo. LIBOR + 0.20% (b)	0.37%	09/25/37		1,028,225
		Residential Asset Mortgage Product, Inc.
	160,000	Series 2005-RZ3, Class M3, 1 Mo. LIBOR + 0.55% (b)	0.72%	09/25/35		158,497
	900,000	Series 2006-RZ1, Class M3, 1 Mo. LIBOR + 0.45% (b)	0.62%	03/25/36		880,089
		Residential Asset Securities Corp.
	150,000	Series 2005-KS11, Class M2, 1 Mo. LIBOR + 0.42% (b)	0.59%	12/25/35		144,833
	150,000	Series 2006-KS3, Class M1, 1 Mo. LIBOR + 0.33% (b)	0.50%	04/25/36		141,289
		SLM Student Loan Trust
	905,000	Series 2007-7, Class B, 3 Mo. LIBOR + 0.75% (b)	1.74%	10/27/70		701,870
	300,000	Series 2008-2, Class B, 3 Mo. LIBOR + 1.20% (b)	2.19%	01/25/83		244,105
	300,000	Series 2008-3, Class B, 3 Mo. LIBOR + 1.20% (b)	2.19%	04/26/83		240,898
	650,000	Series 2008-5, Class B, 3 Mo. LIBOR + 1.85% (b)	2.84%	07/25/73		583,737
	300,000	Series 2008-6, Class B, 3 Mo. LIBOR + 1.85% (b)	2.84%	07/26/83		246,419
	220,000	Series 2008-8, Class B, 3 Mo. LIBOR + 2.25% (b)	3.24%	10/25/75		205,121
	800,000	Series 2008-9, Class B, 3 Mo. LIBOR + 2.25% (b)	3.24%	10/25/83		758,787
	100,000	Series 2012-7, Class B, 1 Mo. LIBOR + 1.80% (b)	1.97%	09/25/43		86,627
		Soundview Home Loan Trust
	131,687	Series 2007-OPT2, Class 2A4, 1 Mo. LIBOR + 0.25% (b)	0.42%	07/25/37		109,871
		Structured Receivables Finance LLC
	145,849	Series 2010-B, Class A (a)	3.73%	08/15/36		148,007
		Total Asset-Backed Securities				15,904,462
		(Cost $17,054,337)

Principal Value (Local Currency)		Description	Stated Coupon	Stated Maturity	Value (U.S. Dollar)
FOREIGN SOVEREIGN BONDS AND NOTES — 3.6%
		Bahrain — 0.1%
	200,000	Bahrain Government International Bond (USD) (j)	7.00%	10/12/28		209,800
		Colombia — 0.7%
	600,000	Colombia Government International Bond (USD)	3.88%	04/25/27		637,242
	400,000	Colombia Government International Bond (USD)	3.00%	01/30/30		400,750
	200,000	Colombia Government International Bond (USD)	5.20%	05/15/49		236,207
						1,274,199
		Dominican Republic — 0.3%
	450,000	Dominican Republic International Bond (USD) (j)	6.00%	07/19/28		434,732

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value (Local Currency)		Description	Stated Coupon	Stated Maturity	Value (U.S. Dollar)
FOREIGN SOVEREIGN BONDS AND NOTES (Continued)
		Egypt — 0.1%
	200,000	Egypt Government International Bond (USD) (a)	5.58%	02/21/23	$	201,524
		Indonesia — 0.1%
	200,000	Indonesia Government International Bond (USD)	2.85%	02/14/30		204,784
		Mexico — 0.5%
	996,000	Mexico Government International Bond (USD)	3.25%	04/16/30		981,996
		Panama — 0.2%
	400,000	Panama Government International Bond (USD)	3.16%	01/23/30		420,754
		Paraguay — 0.1%
	200,000	Paraguay Government International Bond (USD) (a)	4.95%	04/28/31		215,625
		Peru — 0.3%
	453,000	Peruvian Government International Bond (USD)	2.84%	06/20/30		480,660
		Qatar — 0.3%
	302,000	Qatar Government International Bond (USD) (j)	4.50%	04/23/28		349,875
	200,000	Qatar Government International Bond (USD) (j)	4.63%	06/02/46		247,146
						597,021
		Russia — 0.1%
	200,000	Russian Foreign Bond - Eurobond (USD) (j)	4.38%	03/21/29		231,467
		Saudi Arabia — 0.3%
	200,000	Saudi Government International Bond (USD) (j)	4.50%	10/26/46		223,883
	200,000	Saudi Government International Bond (USD) (a)	3.75%	01/21/55		197,500
						421,383
		South Africa — 0.2%
	458,000	Republic of South Africa Government International Bond (USD)	4.30%	10/12/28		412,657
		United Arab Emirates — 0.1%
	200,000	Abu Dhabi Government International Bond (USD) (j)	2.50%	09/30/29		206,246
		Uruguay — 0.2%
	130,143	Uruguay Government International Bond (USD)	4.38%	10/27/27		146,062
	200,000	Uruguay Government International Bond (USD)	4.38%	01/23/31		228,565
						374,627
		Total Foreign Sovereign Bonds and Notes				6,667,475
		(Cost $6,643,330)

Principal Value		Description	Stated Coupon	Stated Maturity	Value
MUNICIPAL BONDS — 2.0%
		California — 1.3%
$	500,000	Los Angeles CA Unified School District	5.75%	07/01/34		665,645
	500,000	Los Angeles Department of Water	6.01%	07/01/39		675,225
	510,000	Regents of the University of California Medical Center Pooled Revenue	3.26%	05/15/60		509,658
	430,000	San Francisco City & County Airport Comm-San Francisco International Airport	5.00%	05/01/49		499,088

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
MUNICIPAL BONDS (Continued)
		California (Continued)
$	75,000	Univ of CA Rev TXBL Gen Ref, Ser AJ	4.60%	05/15/31	$	90,158
						2,439,774
		Massachusetts — 0.1%
	255,000	Commonwealth of Massachusetts	3.00%	03/01/48		272,378
		New York — 0.6%
	280,000	Metropolitan Transportation Authority	5.18%	11/15/49		306,071
	330,000	New York City Transitional Finance Authority Future Tax Secured Revenue	4.00%	08/01/38		370,969
	365,000	New York City Water & Sewer System	3.00%	06/15/50		376,647
						1,053,687
		Total Municipal Bonds				3,765,839
		(Cost $3,573,832)
Principal Value		Description	Annualized Yield on Date of Purchase	Stated Maturity	Value
COMMERCIAL PAPER — 0.3%
		Auto Manufacturers — 0.3%
	310,000	Ford Motor Credit Co. LLC	3.25%	10/08/20		305,719
	295,000	Ford Motor Credit Co. LLC	2.88%	01/08/21		286,073
		Total Commercial Paper				591,792
		(Cost $596,415)
Principal Value		Description	Stated Coupon	Stated Maturity	Value
U.S. TREASURY BILLS — 6.4%
	1,560,000	U.S. Cash Management Bill	(n)	10/20/20		1,559,083
	515,000	U.S. Cash Management Bill	(n)	10/27/20		514,682
	1,735,000	U.S. Treasury Bill (o)	(n)	09/10/20		1,734,258
	7,450,000	U.S. Treasury Bill	(n)	11/12/20		7,444,697
	800,000	U.S. Treasury Bill	(n)	11/27/20		799,364
		Total U.S. Treasury Bills				12,052,084
		(Cost $12,052,335)

Shares		Description	Value
MONEY MARKET FUNDS — 2.2%
	4,188,021	JPMorgan 100% U.S. Treasury Securities Money Market - Fund Institutional Class - 0.10% (p)		4,188,021
		(Cost $4,188,021)
		Total Investments — 104.6%		196,815,638
		(Cost $194,109,803) (q)
		Net Other Assets and Liabilities — (4.6)%		(8,643,582)
		Net Assets — 100.0%	$	188,172,056

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Forward Foreign Currency Contracts at May 31, 2020:
Settlement Date	Counterparty	Amount Purchased		Amount Sold		Purchase Value as of 5/31/2020		Sale Value as of 5/31/2020		Unrealized Appreciation (Depreciation)
6/8/2020	Citi	JPY	500,000,000	USD	4,585,692	$	4,636,827	$	4,585,692	$	51,135
6/8/2020	Citi	USD	4,770,118	JPY	500,000,000		4,770,118		4,636,826		133,292
Net Unrealized Appreciation (Depreciation)										$	184,427

Counterparty Abbreviations:

Citi - Citibank N.A.

1

Futures Contracts at May 31, 2020:
Futures Contracts	Position	Number of Contracts	Expiration Date	Notional Value			Unrealized Appreciation (Depreciation)/ Value
U.S. 10-Year Ultra Treasury Notes	Short	189	Sep-2020	$	(29,735,016	)	$	(155,079	)
Ultra U.S. Treasury Bond Futures	Short	85	Sep-2020		(18,532,656	)		49,566
				$	(48,267,672	)	$	(105,513	)

(a)	This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule 144A of the Securities Act of 1933, as amended (the “1933 Act”), and may be resold in transactions exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined to be liquid by First Trust Advisors L.P., the Fund’s Advisor (the “Advisor”). Although market instability can result in periods of increased overall market illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require subjective judgment. At May 31, 2020, securities noted as such amounted to $33,409,803 or 17.8% of net assets.
(b)	Floating or variable rate security.
(c)	Fixed-to-floating security. At a predetermined date, the fixed rate will change to a floating rate.
(d)	Perpetual maturity.
(e)	Inverse floating rate security.
(f)	Collateral Strip Rate security. Coupon is based on the weighted net interest rate of the investment’s underlying collateral. The interest rate resets periodically.
(g)	Weighted Average Coupon security. Coupon is based on the blended interest rate of the underlying holdings, which may have different coupons. The coupon may change in any period.
(h)	Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined to be illiquid by the Advisor.
(i)	All or a portion of this security is part of a mortgage dollar roll agreement.
(j)	This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the 1933 Act.
(k)	The issuer is in default and interest is not being accrued by the Fund nor paid by the issuer.
(l)	Step security. The coupon rate is determined based on the underlying investments. The coupon rate resets periodically.
(m)	Step-up security. A security where the coupon increases or steps up at a predetermined date.
(n)	Zero coupon security.
(o)	All or a portion of this security is segregated as collateral for open futures contracts.
(p)	Rate shown reflects yield as of May 31, 2020.

First Trust TCW Unconstrained Plus Bond ETF (UCON)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

(q) Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $8,203,146 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $5,418,397. The net unrealized appreciation was $2,784,749. The amounts presented are inclusive of derivative contracts.

IO	- Interest-Only Security – Principal amount shown represents par value on which interest payments are based.
LIBOR	- London Interbank Offered Rates
TBA	- To-Be-Announced Security
Currency Abbreviations:
JPY	- Japanese Yen
USD	- United States Dollar

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Note 2A - Portfolio Valuation in the Notes to Quarterly Portfolio of Investments):

ASSETS TABLE
	Total Value at 5/31/2020			Level 1 Quoted Prices			Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Corporate Bonds and Notes*	$	88,500,196		$	—		$	88,500,196	$	—
U.S. Government Agency Mortgage-Backed Securities		23,729,184			—			23,729,184		—
Mortgage-Backed Securities		21,396,806			—			21,396,806		—
Foreign Corporate Bonds and Notes*		20,019,779			—			20,019,779		—
Asset-Backed Securities		15,904,462			—			15,904,462		—
Foreign Sovereign Bonds and Notes**		6,667,475			—			6,667,475		—
Municipal Bonds***		3,765,839			—			3,765,839		—
Commercial Paper*		591,792			—			591,792		—
U.S. Treasury Bills		12,052,084			—			12,052,084		—
Money Market Funds		4,188,021			4,188,021			—		—
Total Investments		196,815,638			4,188,021			192,627,617		—
Forward Foreign Currency Contracts		184,427			—			184,427		—
Futures Contracts		49,566			49,566			—		—
Total	$	197,049,631		$	4,237,587		$	192,812,044	$	—
LIABILITIES TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices			Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Futures Contracts	$	(155,079	)	$	(155,079	)		—		—

*	See Portfolio of Investments for industry breakout.
**	See Portfolio of Investments for country breakout.
***	See Portfolio of Investments for state breakout.

First Trust TCW Securitized Plus ETF (DEED)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 50.9%
		Collateralized Mortgage Obligations — 2.4%
		Federal Home Loan Mortgage Corporation
$	151,420	Series 2010-3778, Class L	3.50%	12/15/25	$	159,334
	241,042	Series 2017-360, Class 250	2.50%	11/15/47		250,929
		Federal National Mortgage Association
	34,743	Series 2018-86, Class JA	4.00%	05/25/47		36,355
	161,667	Series 2019-67, Class FE, 1 Mo. LIBOR + 0.45% (a)	0.62%	11/25/49		161,557
						608,175
		Commercial Mortgage-Backed Securities — 4.4%
		Federal Home Loan Mortgage Corporation
	135,000	STRU BMOC-8133, PO (b)	(c)	05/30/50		127,406
		Federal National Mortgage Association
	14,229	Series 2015-M4, Class AV2 (a)	2.51%	07/25/22		14,529
		Freddie Mac Multifamily Structured Pass-Through Certificates
	145,000	Series 2013-K024, Class A2	2.57%	09/25/22		150,747
	352,331	Series 2017-Q004, Class A4H (a)	2.79%	08/25/46		357,602
	379,650	Series 2017-Q006, Class APT1 (a)	2.66%	07/25/26		379,136
	35,000	Series 2018-K158, Class A3 (a)	3.90%	10/25/33		43,285
	46,006	Series 2019-KJ27, Class A1	2.09%	07/25/24		47,527
						1,120,232
		Pass-through Securities — 44.1%
		Federal Home Loan Mortgage Corporation
	168,746	Pool G08681	3.50%	12/01/45		180,477
	103,882	Pool G08792	3.50%	12/01/47		109,988
	173,100	Pool G61096	3.50%	02/01/47		188,946
	250,722	Pool G61748	3.50%	11/01/48		274,552
	290,523	Pool G67706	3.50%	12/01/47		318,222
	508,116	Pool G67710	3.50%	03/01/48		547,658
	115,000	Pool RB5054	2.50%	06/01/40		119,512
	180,345	Pool SD7502	3.50%	07/01/49		193,815
	289,139	Pool SD7511	3.50%	01/01/50		313,049
	197,772	Pool V83233	4.00%	06/01/47		217,331
		Federal National Mortgage Association
	121,739	Pool 888829 (a)	5.89%	06/01/37		128,292
	216,954	Pool AM0762	3.29%	09/01/32		253,929
	40,005	Pool AM1671	2.10%	12/01/27		41,910
	275,000	Pool AM7516	3.55%	02/01/30		316,793
	210,804	Pool AN5096	3.32%	04/01/32		242,317
	238,937	Pool AN7345	3.21%	11/01/37		273,005
	243,570	Pool AN9802	3.83%	07/01/33		276,990
	108,972	Pool AZ4750	3.50%	10/01/45		117,564
	120,004	Pool BE3619	4.00%	05/01/47		128,852
	275,000	Pool BL0469	3.88%	11/01/30		328,066
	104,715	Pool CA0995	3.50%	01/01/48		114,412
	308,648	Pool MA4016	2.50%	05/01/40		320,757
	1,325,000	Pool TBA (d)	2.50%	07/15/35		1,384,447
	400,000	Pool TBA (d)	2.50%	06/15/50		415,047
	75,000	Pool TBA (d)	2.00%	07/15/50		76,320
	1,325,000	Pool TBA (d)	2.50%	07/15/50		1,371,980
	745,000	Pool TBA (d)	3.00%	07/15/50		781,976
		Government National Mortgage Association
	240,795	Pool MA3873	3.00%	08/20/46		256,415

First Trust TCW Securitized Plus ETF (DEED)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)
		Pass-through Securities (Continued)
		Government National Mortgage Association (Continued)
$	200,241	Pool MA4382	3.50%	04/20/47	$	214,852
	160,626	Pool MA4778	3.50%	10/20/47		171,782
	110,659	Pool MA4779	4.00%	10/20/47		118,768
	1,315,000	Pool TBA (d)	3.00%	06/15/47		1,392,154
	50,000	Pool TBA (d)	2.50%	06/15/50		52,607
						11,242,785
		Total U.S. Government Agency Mortgage-Backed Securities				12,971,192
		(Cost $12,853,161)
ASSET-BACKED SECURITIES — 23.9%
		Accredited Mortgage Loan Trust
	118,611	Series 2005-1, Class M1, 1 Mo. LIBOR + 0.71% (a)	0.87%	04/25/35		118,150
	173,207	Series 2005-1, Class M2, 1 Mo. LIBOR + 1.04% (a)	1.20%	04/25/35		168,503
		ACE Securities Corp. Home Equity Loan Trust
	337,263	Series 2006-HE1, Class A2D, 1 Mo. LIBOR + 0.30% (a)	0.47%	02/25/36		321,280
		Ameriquest Mortgage Securities, Inc. Asset Backed Pass-Through Ctfs
	290,000	Series 2005-R11, Class M3, 1 Mo. LIBOR + 0.50% (a)	0.67%	01/25/36		267,933
		Ammc CLO 19 Ltd.
	250,000	Series 2016-19A, Class AR, 3 Mo. LIBOR + 1.14% (a) (e)	2.36%	10/16/28		246,251
		Bear Stearns Asset Backed Securities I Trust
	375,250	Series 2005-HE11, Class M2, 1 Mo. LIBOR + 0.68% (a)	0.84%	11/25/35		364,808
		CWABS Asset-Backed Certificates Trust
	215,000	Series 2005-1, Class MV6, 1 Mo. LIBOR + 0.73% (a)	0.90%	07/25/35		208,148
	142,969	Series 2005-16, Class MV1, 1 Mo. LIBOR + 0.46% (a)	0.63%	05/25/36		141,633
		Ford Credit Floorplan Master Owner Trust
	390,000	Series 2019-4, Class A	2.44%	09/15/26		390,326
		GoldenTree Loan Opportunities Ltd.
	400,000	Series 2014-9A, Class AR2, 3 Mo. LIBOR + 1.11% (a) (e)	1.95%	10/29/29		393,530
		GSAMP Trust
	200,000	Series 2005-HE6, Class M2, 1 Mo. LIBOR + 0.45% (a)	0.62%	11/25/35		185,625
		JP Morgan Mortgage Acquisition Trust
	275,000	Series 2005-WMC1, Class M3, 1 Mo. LIBOR + 0.71% (a)	0.87%	09/25/35		256,512
	309,889	Series 2006-CH1, Class M1, 1 Mo. LIBOR + 0.22% (a)	0.39%	07/25/36		308,261
	270,000	Series 2006-FRE1, Class M1, 1 Mo. LIBOR + 0.39% (a)	0.56%	05/25/35		264,079
		Long Beach Mortgage Loan Trust
	205,564	Series 2005-WL2, Class M2, 1 Mo. LIBOR + 0.74% (a)	0.90%	08/25/35		203,841
	342,157	Series 2006-10, Class 2A3, 1 Mo. LIBOR + 0.16% (a)	0.33%	11/25/36		149,694
		Morgan Stanley Capital I, Inc. Trust
	272,386	Series 2006-HE1, Class A4, 1 Mo. LIBOR + 0.29% (a)	0.46%	01/25/36		261,791
		Navient Student Loan Trust
	320,000	Series 2015-3, Class B, 1 Mo. LIBOR + 1.50% (a)	1.67%	10/25/58		272,283
		Nelnet Student Loan Trust
	215,000	Series 2014-4A, Class A2, 1 Mo. LIBOR + 0.95% (a) (e)	1.12%	11/25/48		193,703
		Nomura Home Equity Loan, Inc. Home Equity Loan Trust
	126,568	Series 2006-HE1, Class M1, 1 Mo. LIBOR + 0.41% (a)	0.58%	02/25/36		124,933
		Palmer Square CLO Ltd.
	400,000	Series 2018-1A, Class A1, 3 Mo. LIBOR + 1.03% (a) (e)	2.17%	04/18/31		388,177

First Trust TCW Securitized Plus ETF (DEED)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
ASSET-BACKED SECURITIES (Continued)
		RASC Trust
$	237,579	Series 2006-EMX1, Class M1, 1 Mo. LIBOR + 0.41% (a)	0.58%	01/25/36	$	236,644
		Securitized Asset Backed Receivables LLC Trust
	131,734	Series 2006-NC2, Class A3, 1 Mo. LIBOR + 0.24% (a)	0.41%	03/25/36		126,485
		Soundview Home Loan Trust
	140,000	Series 2006-2, Class M2, 1 Mo. LIBOR + 0.35% (a)	0.52%	03/25/36		132,576
		Structured Asset Securities Corp. Mortgage Loan Trust
	131,867	Series 2006-OPT1, Class A1, 1 Mo. LIBOR + 0.18% (a)	0.35%	04/25/36		125,081
		TCI-Flatiron CLO Ltd.
	250,000	Series 2016-1A, Class AR, 3 Mo. LIBOR + 1.22% (a) (e)	2.35%	07/17/28		246,951
		Total Asset-Backed Securities				6,097,198
		(Cost $5,926,744)
MORTGAGE-BACKED SECURITIES — 16.6%
		Collateralized Mortgage Obligations — 7.0%
		Alternative Loan Trust
	295,947	Series 2005-16, Class A4, 1 Mo. LIBOR + 0.48% (a)	0.65%	06/25/35		262,747
	263,293	Series 2007-OA7, Class A1A, 1 Mo. LIBOR + 0.18% (a)	0.35%	05/25/47		226,027
	421,342	Series 2007-HY8C, Class A1, 1 Mo. LIBOR + 0.16% (a)	0.33%	09/25/47		371,956
		Banc of America Funding Trust
	253,382	Series 2015-R2, Class 4A1, 1 Mo. LIBOR + 0.17% (a) (e)	0.33%	09/29/36		250,752
		Bear Stearns ALT-A Trust
	95,765	Series 2004-8, Class 2A, 1 Mo. LIBOR + 0.68% (a)	0.85%	09/25/34		94,820
		GSR Mortgage Loan Trust
	311,060	Series 2006-OA1, Class 2A2, 1 Mo. LIBOR + 0.26% (a)	0.43%	08/25/46		167,435
		RALI Trust
	206,910	Series 2006-QA6, Class A1, 1 Mo. LIBOR + 0.19% (a)	0.36%	07/25/36		192,832
		WaMu Mortgage Pass-Through Certificates Trust
	95,647	Series 2006-AR3, Class A1A, 12 Mo. Treasury Average + 1.00% (a)	2.69%	02/25/46		89,837
	137,178	Series 2006-AR17, Class 1A1A, 12 Mo. Treasury Average + 0.81% (a)	2.68%	12/25/46		122,392
						1,778,798
		Commercial Mortgage-Backed Securities — 9.6%
		BAMLL Commercial Mortgage Securities Trust
	100,000	Series 2014-520M, Class A (e) (f)	4.18%	08/15/46		113,739
	105,000	Series 2018-PARK, Class A (e) (f)	4.09%	08/10/38		120,583
		BBCMS Trust
	120,000	Series 2015-SRCH, Class A2 (e)	4.20%	08/10/35		132,704
		CALI Mortgage Trust
	100,000	Series 2019-101C, Class A (e)	3.96%	03/10/39		113,922
		CFCRE Commercial Mortgage Trust
	1,405,339	Series 2017-C8, Class XA, IO (f)	1.61%	06/15/50		92,566
		COMM Mortgage Trust
	4,724,101	Series 2012-CR4, Class XA, IO (f)	1.69%	10/15/45		167,000
		CSAIL Commercial Mortgage Trust
	2,334,953	Series 2015-C2, Class XA, IO (f)	0.75%	06/15/57		66,260
	3,782,040	Series 2016-C5, Class XA, IO (f)	0.94%	11/15/48		122,308
		DC Office Trust
	75,000	Series 2019-MTC, Class A (e)	2.97%	09/15/45		78,450
		GS Mortgage Securities Trust
	11,447,469	Series 2011-GC5, Class XA, IO (e) (f)	1.33%	08/10/44		121,787

First Trust TCW Securitized Plus ETF (DEED)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Principal Value		Description	Stated Coupon	Stated Maturity	Value
MORTGAGE-BACKED SECURITIES (Continued)
		Commercial Mortgage-Backed Securities (Continued)
		Hudson Yards Mortgage Trust
$	75,000	Series 2019-55HY, Class A (e) (f)	2.94%	12/10/41	$	79,583
		JP Morgan Chase Commercial Mortgage Securities Trust
	1,982,928	Series 2013-LC11, Class XA, IO (f)	1.25%	04/15/46		58,365
		JPMBB Commercial Mortgage Securities Trust
	1,256,536	Series 2015-C32, Class XA, IO (f)	1.32%	11/15/48		38,934
		MKT Mortgage Trust
	95,000	Series 2020-525M, Class A (e)	2.69%	02/12/40		99,243
		Natixis Commercial Mortgage Securities Trust
	75,000	Series 2020-2PAC, Class A (e)	2.97%	12/15/38		77,877
		One Bryant Park Trust
	125,000	Series 2019-OBP, Class A (e)	2.52%	09/15/54		128,681
		SFAVE Commercial Mortgage Securities Trust
	270,000	Series 2015-5AVE, Class A2A (e) (f)	3.66%	01/05/43		273,914
		UBS-Barclays Commercial Mortgage Trust
	5,489,174	Series 2012-C2, Class XA, IO (e) (f)	1.30%	05/10/63		124,424
		Wells Fargo Commercial Mortgage Trust
	2,159,980	Series 2015-LC22, Class XA, IO (f)	0.77%	09/15/58		67,450
	65,000	Series 2019-C50, Class A5	3.73%	05/15/52		73,855
		WFRBS Commercial Mortgage Trust
	4,580,131	Series 2014-C20, Class XA, IO (f)	0.96%	05/15/47		127,901
	1,121,375	Series 2014-C22, Class XA, IO (f)	0.81%	09/15/57		29,839
	5,217,405	Series 2014-C24, Class XA, IO (f)	0.84%	11/15/47		137,505
						2,446,890
		Total Mortgage-Backed Securities				4,225,688
		(Cost $4,063,883)
U.S. TREASURY BILLS — 30.3%
	2,650,000	U.S. Treasury Bill	(c)	10/22/20		2,648,342
	5,000,000	U.S. Treasury Bill	(c)	10/29/20		4,996,614
	75,000	U.S. Treasury Bill	(c)	11/12/20		74,947
		Total U.S. Treasury Bills				7,719,903
		(Cost $7,721,214)

Shares		Description	Value
MONEY MARKET FUNDS — 1.7%
	419,811	JPMorgan 100% U.S. Treasury Securities Money Market - Fund Institutional Class - 0.10% (g)		419,811
		(Cost $419,811)
		Total Investments — 123.4%	$	31,433,792
		(Cost $30,984,813) (h)
		Net Other Assets and Liabilities — (23.4)%		(5,956,922
		Net Assets — 100.0%	$	25,476,870

First Trust TCW Securitized Plus ETF (DEED)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Futures Contracts at May 31, 2020:
Futures Contracts	Position	Number of Contracts	Expiration Date		Notional Value			Unrealized Appreciation (Depreciation)/ Value
U.S. 5-Year Treasury Notes	Short	4	Sep-2020	$	(502,500	)	$	(633	)
U.S. 10-Year Ultra Treasury Notes	Short	9	Sep-2020		(1,415,953	)		(6,514	)
				$	(1,918,453	)	$	(7,147	)

(a)	Floating or variable rate security.
(b)	This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Trust’s Board of Trustees, and in accordance with provisions of the Investment Company Act of 1940, as amended. At May 31, 2020, securities noted as such are valued at $127,406 or 0.5% of net assets.
(c)	Zero coupon security.
(d)	All or a portion of this security is part of a mortgage dollar roll agreement.
(e)	This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule 144A of the Securities Act of 1933, as amended, and may be resold in transactions exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined to be liquid by First Trust Advisors L.P., the Fund’s Advisor. Although market instability can result in periods of increased overall market illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require subjective judgment. At May 31, 2020, securities noted as such amounted to $3,184,271 or 12.5% of net assets.
(f)	Collateral Strip Rate security. Coupon is based on the weighted net interest rate of the investment’s underlying collateral. The interest rate resets periodically.
(g)	Rate shown reflects yield as of May 31, 2020.
(h)	Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $456,090 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $14,258. The net unrealized appreciation was $441,832. The amounts presented are inclusive of derivative contracts.

IO – Interest-Only Security – Principal amount shown represents par value on which interest payments are based

LIBOR – London Interbank Offered Rate

PO – Principal-Only Security

TBA – To-Be-Announced Security

First Trust TCW Securitized Plus ETF (DEED)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

ASSETS TABLE

	Total Value at 5/31/2020			Level 1 Quoted Prices			Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
U.S. Government Agency Mortgage-Backed Securities	$	12,971,192		$	—		$	12,971,192	$	—
Asset-Backed Securities		6,097,198			—			6,097,198		—
Mortgage-Backed Securities		4,225,688			—			4,225,688		—
U.S. Treasury Bills		7,719,903			—			7,719,903		—
Money Market Funds		419,811			419,811			—		—
Total Investments	$	31,433,792		$	419,811		$	31,013,981	$	—
LIABILITIES TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices			Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Futures Contracts	$	(7,147	)	$	(7,147	)	$	—	$	—

Additional Information

First Trust Exchange-Traded Fund VIII

May 31, 2020 (Unaudited)

Valuation Inputs

The Funds are subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.

• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.)

• Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment.

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.

First Trust Low Duration Strategic Focus ETF (LDSF)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Exchange-Traded Funds — 100.0%
	Capital Markets — 100.0%
95,079	First Trust Emerging Markets Local Currency Bond ETF (a)	$	3,323,011
208,975	First Trust Enhanced Short Maturity ETF (a)		12,509,244
843,004	First Trust Low Duration Opportunities ETF (a)		43,541,157
277,067	First Trust Tactical High Yield ETF (a)		12,808,807
519,766	First Trust TCW Opportunistic Fixed Income ETF (a)		28,259,677
483,969	iShares 0-5 Year Investment Grade Corporate Bond ETF		25,098,632
	Total Exchange-Traded Funds — 100.0%		125,540,528
	(Cost $124,538,570)
	Money Market Funds — 0.0%
27,508	Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 0.05% (b)		27,508
	(Cost $27,508)
	Total Investments — 100.0%		125,568,036
	(Cost $124,566,078) (c)
	Net Other Assets and Liabilities — (0.0)%		(6,422	)
	Net Assets — 100.0%	$	125,561,614

(a)	Investment in an affiliated fund.
(b)	Rate shown reflects yield as of May 31, 2020.
(c)	Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $1,448,984 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $447,026. The net unrealized appreciation was $1,001,958.

Valuation Inputs

The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.

• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.)

• Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment.

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments. A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows:

		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Exchange-Traded Funds*	$	125,540,528	$	—	$	—
Money Market Funds		27,508		—		—
Total Investments	$	125,568,036	$	—	$	—
* See Portfolio of Investments for industry breakout.

First Trust Low Duration Strategic Focus ETF (LDSF)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Affiliated Transactions

Amounts relating to investments in affiliated funds at May 31, 2020, and for the fiscal year-to-date period (September 1, 2019 to May 31, 2020) are as follows:

Security Name	Shares at 5/31/2020		Value at 8/31/2019		Purchases		Sales			Change in Unrealized Appreciation (Depreciation)			Realized Gain (Loss)			Value at 5/31/2020		Dividend Income
First Trust Emerging Markets Local Currency Bond ETF		95,079	$	1,215,799	$	3,128,536	$	(768,835	)	$	(210,831	)	$	(41,658	)	$	3,323,011	$	104,948
First Trust Enhanced Short Maturity ETF		208,975		11,259,941		25,765,702		(24,190,379	)		(36,211	)		(289,809	)		12,509,244		328,410
First Trust Low Duration Opportunities ETF		843,004		20,129,332		43,084,088		(19,110,713	)		(343,402	)		(218,148	)		43,541,157		682,088
First Trust Senior Loan Fund		—		7,477,145		15,500,510		(21,068,003	)		38,085			(1,947,737	)		—		354,242
First Trust Tactical High Yield ETF		277,067		2,502,346		17,561,751		(6,715,505	)		355,702			(895,487	)		12,808,807		188,981
First Trust TCW Opportunistic Fixed Income ETF		519,766		2,562,596		34,474,536		(9,744,951	)		791,067			176,429			28,259,677		315,274
			$	45,147,159	$	139,515,123	$	(81,598,386	)	$	594,410		$	(3,216,410	)	$	100,441,896	$	1,973,943

FT Cboe Vest U.S. Equity Buffer ETF - August (FAUG)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
PURCHASED OPTIONS — 102.2%
CALL OPTIONS PURCHASED — 97.2%
686		SPDR® S&P 500® ETF Trust	$	20,876,352		$	3.07	08/21/20	$	20,609,233
		(Cost $19,099,701)
PUT OPTIONS PURCHASED — 5.0%
686		SPDR® S&P 500® ETF Trust		20,876,352			307.10	08/21/20		1,061,030
		(Cost $1,701,712)
		Total Purchased Options								21,670,263
		(Cost $20,801,413)
Shares		Description								Value
MONEY MARKET FUNDS — 0.7%
158,368		Dreyfus Government Cash Management Fund, Institutional Shares - 0.09% (a)								158,368
		(Cost $158,368)
		Total Investments — 102.9%								21,828,631
		(Cost $20,959,781) (b)
Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
WRITTEN OPTIONS — (2.8)%
CALL OPTIONS WRITTEN — (0.6)%
(686	)	SPDR® S&P 500® ETF Trust	$	(20,876,352	)	$	333.51	08/21/20		(138,337	)
		(Premiums received $229,422)
PUT OPTIONS WRITTEN — (2.2)%
(686	)	SPDR® S&P 500® ETF Trust		(20,876,352	)		276.39	08/21/20		(464,977	)
		(Premiums received $1,384,180)
		Total Written Options								(603,314	)
		(Premiums received $1,613,602)
		Net Other Assets and Liabilities — (0.1)%								(11,110	)
		Net Assets — 100.0%							$	21,214,207

(a)

Rate shown reflects yield as of May 31, 2020.

(b)

Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $2,519,820 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $640,682. The net unrealized appreciation was $1,879,138. The amounts presented are inclusive of derivative contracts.

FT Cboe Vest U.S. Equity Buffer ETF - August (FAUG)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

ASSETS TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Call Options Purchased	$	20,609,233		$	—	$	20,609,233		$	—
Put Options Purchased		1,061,030			—		1,061,030			—
Money Market Funds		158,368			158,368		—			—
Total Investments	$	21,828,631		$	158,368	$	21,670,263		$	—
LIABILITIES TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Call Options Written	$	(138,337	)	$	—	$	(138,337	)	$	—
Put Options Written		(464,977	)		—		(464,977	)		—
Total	$	(603,314	)	$	—	$	(603,314	)	$	—

FT Cboe Vest U.S. Equity Deep Buffer ETF - August (DAUG)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
PURCHASED OPTIONS — 100.7%
CALL OPTIONS PURCHASED — 96.8%
8,330		SPDR® S&P 500® ETF Trust	$	253,498,560		$	3.08	08/21/20	$	247,117,780
		(Cost $210,825,714)
PUT OPTIONS PURCHASED — 3.9%
8,330		SPDR® S&P 500® ETF Trust		253,498,560			291.75	08/21/20		9,862,720
		(Cost $35,830,470)
		Total Purchased Options								256,980,500
		(Cost $246,656,184)
Shares		Description								Value
MONEY MARKET FUNDS — 0.7%
1,800,707		Dreyfus Government Cash Management Fund, Institutional Shares - 0.09% (a)								1,800,707
		(Cost $1,800,707)
		Total Investments — 101.4%								258,781,207
		(Cost $248,456,891) (b)
Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
WRITTEN OPTIONS — (1.3)%
CALL OPTIONS WRITTEN — (0.8)%
(8,330	)	SPDR® S&P 500® ETF Trust	$	(253,498,560	)	$	327.30	08/21/20		(2,040,850	)
		(Premiums received $1,123,712)
PUT OPTIONS WRITTEN — (0.5)%
(8,330	)	SPDR® S&P 500® ETF Trust		(253,498,560	)		214.97	08/21/20		(1,207,850	)
		(Premiums received $11,095,727)
		Total Written Options								(3,248,700	)
		(Premiums received $12,219,439)
		Net Other Assets and Liabilities — (0.1)%								(162,563	)
		Net Assets — 100.0%							$	255,369,944

(a)

Rate shown reflects yield as of May 31, 2020.

(b)

Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $46,179,943 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $26,884,888. The net unrealized appreciation was $19,295,055. The amounts presented are inclusive of derivative contracts.

FT Cboe Vest U.S. Equity Deep Buffer ETF - August (DAUG)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

ASSETS TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices			Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Call Options Purchased	$	247,117,780		$	247,117,780		$	—	$	—
Put Options Purchased		9,862,720			9,862,720			—		—
Money Market Funds		1,800,707			1,800,707			—		—
Total Investments	$	258,781,207		$	258,781,207		$	—	$	—
LIABILITIES TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices			Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Call Options Written	$	(2,040,850	)	$	(2,040,850	)	$	—	$	—
Put Options Written		(1,207,850	)		(1,207,850	)		—		—
Total	$	(3,248,700	)	$	(3,248,700	)	$	—	$	—

FT Cboe Vest U.S. Equity Buffer ETF - November (FNOV)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
PURCHASED OPTIONS — 104.3%
CALL OPTIONS PURCHASED — 96.6%
2,695		SPDR® S&P 500® ETF Trust	$	82,014,240		$	3.12	11/20/20	$	81,055,577
		(Cost $78,713,522)
PUT OPTIONS PURCHASED — 7.7%
2,695		SPDR® S&P 500® ETF Trust		82,014,240			311.79	11/20/20		6,479,089
		(Cost $6,615,143)
		Total Purchased Options								87,534,666
		(Cost $85,328,665)
Shares		Description								Value
MONEY MARKET FUNDS — 0.8%
684,524		Dreyfus Government Cash Management Fund, Institutional Shares - 0.09% (a)								684,524
		(Cost $684,524)
		Total Investments — 105.1%								88,219,190
		(Cost $86,013,189) (b)
Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
WRITTEN OPTIONS — (5.0)%
CALL OPTIONS WRITTEN — (0.8)%
(2,695	)	SPDR® S&P 500® ETF Trust	$	(82,014,240	)	$	350.33	11/20/20		(667,027	)
		(Premiums received $831,517)
PUT OPTIONS WRITTEN — (4.2)%
(2,695	)	SPDR® S&P 500® ETF Trust		(82,014,240	)		280.61	11/20/20		(3,583,823	)
		(Premiums received $4,692,019)
		Total Written Options								(4,250,850	)
		(Premiums received $5,523,536)
		Net Other Assets and Liabilities — (0.1)%								(55,240	)
		Net Assets — 100.0%							$	83,913,100

(a)

Rate shown reflects yield as of May 31, 2020.

(b)

Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $3,614,741 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $136,054. The net unrealized appreciation was $3,478,687. The amounts presented are inclusive of derivative contracts.

FT Cboe Vest U.S. Equity Buffer ETF - November (FNOV)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

ASSETS TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Call Options Purchased	$	81,055,577		$	—	$	81,055,577		$	—
Put Options Purchased		6,479,089			—		6,479,089			—
Money Market Funds		684,524			684,524		—			—
Total Investments	$	88,219,190		$	684,524	$	87,534,666		$	—
LIABILITIES TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Call Options Written	$	(667,027	)	$	—	$	(667,027	)	$	—
Put Options Written		(3,583,823	)		—		(3,583,823	)		—
Total	$	(4,250,850	)	$	—	$	(4,250,850	)	$	—

FT Cboe Vest U.S. Equity Deep Buffer ETF - November (DNOV)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
PURCHASED OPTIONS — 102.4%
CALL OPTIONS PURCHASED — 96.6%
3,528		SPDR® S&P 500® ETF Trust	$	107,364,096		$	3.13	11/20/20	$	106,105,592
		(Cost $90,646,277)
PUT OPTIONS PURCHASED — 5.8%
3,528		SPDR® S&P 500® ETF Trust		107,364,096			296.20	11/20/20		6,309,597
		(Cost $13,837,065)
		Total Purchased Options								112,415,189
		(Cost $104,483,342)
Shares		Description								Value
MONEY MARKET FUNDS — 0.7%
794,842		Dreyfus Government Cash Management Fund, Institutional Shares - 0.09% (a)								794,842
		(Cost $794,842)
		Total Investments — 103.1%								113,210,031
		(Cost $105,278,184) (b)
Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
WRITTEN OPTIONS — (3.0) %
CALL OPTIONS WRITTEN — (1.7)%
(3,528	)	SPDR® S&P 500® ETF Trust	$	(107,364,096	)	$	337.11	11/20/20		(1,931,813	)
		(Premiums received $1,081,326)
PUT OPTIONS WRITTEN — (1.3)%
(3,528	)	SPDR® S&P 500® ETF Trust		(107,364,096	)		218.25	11/20/20		(1,409,655	)
		(Premiums received $5,708,216)
		Total Written Options								(3,341,468	)
		(Premiums received $6,789,542)
		Net Other Assets and Liabilities — (0.1)%								(73,186	)
		Net Assets — 100.0%							$	109,795,377

(a)

Rate shown reflects yield as of May 31, 2020.

(b)

Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $19,757,876 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $8,377,955. The net unrealized appreciation was $11,379,921. The amounts presented are inclusive of derivative contracts.

FT Cboe Vest U.S. Equity Deep Buffer ETF - November (DNOV)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

ASSETS TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Call Options Purchased	$	106,105,592		$	—	$	106,105,592		$	—
Put Options Purchased		6,309,597			—		6,309,597			—
Money Market Funds		794,842			794,842		—			—
Total Investments	$	113,210,031		$	794,842	$	112,415,189		$	—
LIABILITIES TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Call Options Written	$	(1,931,813	)	$	—	$	(1,931,813	)	$	—
Put Options Written		(1,409,655	)		—		(1,409,655	)		—
Total	$	(3,341,468	)	$	—	$	(3,341,468	)	$	—

FT Cboe Vest U.S. Equity Buffer ETF - February (FFEB)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
PURCHASED OPTIONS — 107.1%
CALL OPTIONS PURCHASED — 94.2%
3,450		SPDR® S&P 500® ETF Trust	$	104,990,400		$	3.33	02/19/21	$	103,290,287
		(Cost $100,745,464)
PUT OPTIONS PURCHASED — 12.9%
3,450		SPDR® S&P 500® ETF Trust		104,990,400			333.48	02/19/21		14,115,795
		(Cost $12,652,428)
		Total Purchased Options								117,406,082
		(Cost $113,397,892)
Shares		Description								Value
MONEY MARKET FUNDS — 1.1%
1,178,933		Dreyfus Government Cash Management Fund, Institutional Shares - 0.09% (a)								1,178,933
		(Cost $1,178,933)
		Total Investments — 108.2%								118,585,015
		(Cost $114,576,825) (b)
Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
WRITTEN OPTIONS — (8.1)%
CALL OPTIONS WRITTEN — (0.4)%
(3,450	)	SPDR® S&P 500® ETF Trust	$	(104,990,400	)	$	369.33	02/19/21		(480,969	)
		(Premiums received $437,414)
PUT OPTIONS WRITTEN — (7.7)%
(3,450	)	SPDR® S&P 500® ETF Trust		(104,990,400	)		300.13	02/19/21		(8,394,959	)
		(Premiums received $8,755,323)
		Total Written Options								(8,875,928	)
		(Premiums received $9,192,737)
		Net Other Assets and Liabilities — (0.1)%								(75,681	)
		Net Assets — 100.0%							$	109,633,406

(a)

Rate shown reflects yield as of May 31, 2020.

(b)

Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $4,368,554 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $43,555. The net unrealized appreciation was $4,324,999. The amounts presented are inclusive of derivative contracts.

FT Cboe Vest U.S. Equity Buffer ETF - February (FFEB)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

ASSETS TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Call Options Purchased	$	103,290,287		$	—	$	103,290,287		$	—
Put Options Purchased		14,115,795			—		14,115,795			—
Money Market Funds		1,178,933			1,178,933		—			—
Total Investments	$	118,585,015		$	1,178,933	$	117,406,082		$	—
LIABILITIES TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Call Options Written	$	(480,969	)	$	—	$	(480,969	)	$	—
Put Options Written		(8,394,959	)		—		(8,394,959	)		—
Total	$	(8,875,928	)	$	—	$	(8,875,928	)	$	—

FT Cboe Vest U.S. Equity Deep Buffer ETF - February (DFEB)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
PURCHASED OPTIONS — 102.4%
CALL OPTIONS PURCHASED — 92.6%
14,398		SPDR® S&P 500® ETF Trust	$	438,159,936		$	3.32	02/19/21	$	431,079,192
		(Cost $402,506,229)
PUT OPTIONS PURCHASED — 9.8%
14,398		SPDR® S&P 500® ETF Trust		438,159,936			316.81	02/19/21		45,640,332
		(Cost $58,470,112)
		Total Purchased Options								476,719,524
		(Cost $460,976,341)
Shares		Description								Value
MONEY MARKET FUNDS — 1.0%
4,734,921		Dreyfus Government Cash Management Fund, Institutional Shares - 0.09% (a)								4,734,921
		(Cost $4,734,921)
		Total Investments — 103.4%								481,454,445
		(Cost $465,711,262) (b)
Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
WRITTEN OPTIONS — (3.3)%
CALL OPTIONS WRITTEN — (0.9)%
(14,398	)	SPDR® S&P 500® ETF Trust	$	(438,159,936	)	$	358.49	02/19/21		(4,373,157	)
		(Premiums received $2,798,744)
PUT OPTIONS WRITTEN — (2.4)%
(14,398	)	SPDR® S&P 500® ETF Trust		(438,159,936	)		233.44	02/19/21		(11,206,754	)
		(Premiums received $18,683,664)
		Total Written Options								(15,579,911	)
		(Premiums received $21,482,408)
		Net Other Assets and Liabilities — (0.1)%								(315,792	)
		Net Assets — 100.0%							$	465,558,742

(a)

Rate shown reflects yield as of May 31, 2020.

(b)

Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $36,049,873 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $14,404,193. The net unrealized appreciation was $21,645,680. The amounts presented are inclusive of derivative contracts.

FT Cboe Vest U.S. Equity Deep Buffer ETF - February (DFEB)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

ASSETS TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Call Options Purchased	$	431,079,192		$	—	$	431,079,192		$	—
Put Options Purchased		45,640,332			—		45,640,332			—
Money Market Funds		4,734,921			4,734,921		—			—
Total Investments	$	481,454,445		$	4,734,921	$	476,719,524		$	—
LIABILITIES TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Call Options Written	$	(4,373,157	)	$	—	$	(4,373,157	)	$	—
Put Options Written		(11,206,754	)		—		(11,206,754	)		—
Total	$	(15,579,911	)	$	—	$	(15,579,911	)	$	—

FT Cboe Vest U.S. Equity Buffer - May (FMAY)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
PURCHASED OPTIONS — 107.8%
CALL OPTIONS PURCHASED — 100.1%
742		SPDR® S&P 500® ETF Trust	$	22,580,544		$	2.86	05/21/21	$	22,129,388
		(Cost $21,197,154)
PUT OPTIONS PURCHASED — 7.7%
742		SPDR® S&P 500® ETF Trust		22,580,544			286.28	05/21/21		1,699,300
		(Cost $2,121,130)
		Total Purchased Options								23,828,688
		(Cost $23,318,284)
Shares		Description								Value
MONEY MARKET FUNDS — 1.2%
259,924		Dreyfus Government Cash Management Fund, Institutional Shares - 0.09% (a)								259,924
		(Cost $259,924)
		Total Investments — 109.0%								24,088,612
		(Cost $23,578,208) (b)
Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
WRITTEN OPTIONS — (9.0)%
CALL OPTIONS WRITTEN — (4.0)%
(742	)	SPDR® S&P 500® ETF Trust	$	(22,580,544	)	$	335.15	05/21/21		(873,292	)
		(Premiums received $580,691)
PUT OPTIONS WRITTEN — (5.0)%
(742	)	SPDR® S&P 500® ETF Trust		(22,580,544	)		257.65	05/21/21		(1,095,304	)
		(Premiums received $1,422,525)
		Total Written Options								(1,968,596	)
		(Premiums received $2,003,216)
		Net Other Assets and Liabilities — (0.0)%								(5,672	)
		Net Assets — 100.0%							$	22,114,344

(a)

Rate shown reflects yield as of May 31, 2020.

(b)

Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $1,259,455 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $714,431. The net unrealized appreciation was $545,024. The amounts presented are inclusive of derivative contracts.

FT Cboe Vest U.S. Equity Buffer - May (FMAY)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

ASSETS TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Call Options Purchased	$	22,129,388		$	—	$	22,129,388		$	—
Put Options Purchased		1,699,300			—		1,699,300			—
Money Market Funds		259,924			259,924		—			—
Total Investments	$	24,088,612		$	259,924	$	23,828,688		$	—
LIABILITIES TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Call Options Written	$	(873,292	)	$	—	$	(873,292	)	$	—
Put Options Written		(1,095,304	)		—		(1,095,304	)		—
Total	$	(1,968,596	)	$	—	$	(1,968,596	)	$	—

FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
PURCHASED OPTIONS — 108.0%
CALL OPTIONS PURCHASED — 101.7%
424		SPDR® S&P 500® ETF Trust	$	12,903,168		$	2.85	05/21/21	$	12,645,788
		(Cost $11,917,858)
PUT OPTIONS PURCHASED — 6.3%
424		SPDR® S&P 500® ETF Trust		12,903,168			271.97	05/21/21		782,181
		(Cost $1,091,548)
		Total Purchased Options								13,427,969
		(Cost $13,009,406)
Shares		Description								Value
MONEY MARKET FUNDS — 1.1%
141,869		Dreyfus Government Cash Management Fund, Institutional Shares - 0.09% (a)								141,869
		(Cost $141,869)
		Total Investments — 109.1%								13,569,838
		(Cost $13,151,275) (b)
Number of Contracts		Description	Notional Amount			Exercise Price		Expiration Date	Value
WRITTEN OPTIONS — (9.1)%
CALL OPTIONS WRITTEN — (7.2)%
(424	)	SPDR® S&P 500® ETF Trust	$	(12,903,168	)	$	314.76	05/21/21		(890,551	)
		(Premiums received $612,653)
PUT OPTIONS WRITTEN — (1.9)%
(424	)	SPDR® S&P 500® ETF Trust		(12,903,168	)		200.40	05/21/21		(237,670	)
		(Premiums received $362,021)
		Total Written Options								(1,128,221	)
		(Premiums received $974,674)
		Net Other Assets and Liabilities — (0.0)%								(3,790	)
		Net Assets — 100.0%							$	12,437,827

(a)

Rate shown reflects yield as of May 31, 2020.

(b)

Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $852,281 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $587,265. The net unrealized appreciation was $265,016. The amounts presented are inclusive of derivative contracts.

FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

ASSETS TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Call Options Purchased	$	12,645,788		$	—	$	12,645,788		$	—
Put Options Purchased		782,181			—		782,181			—
Money Market Funds		141,869			141,869		—			—
Total Investments	$	13,569,838		$	141,869	$	13,427,969		$	—
LIABILITIES TABLE
		Total Value at 5/31/2020			Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs
Call Options Written	$	(890,551	)	$	—	$	(890,551	)	$	—
Put Options Written		(237,670	)		—		(237,670	)		—
Total	$	(1,128,221	)	$	—	$	(1,128,221	)	$	—

Additional Information

First Trust Exchange-Traded Fund VIII

May 31, 2020 (Unaudited)

Valuation Inputs

The Funds are subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.

• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.)

• Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment.

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.

First Trust Active Factor Large Cap ETF (AFLG)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks — 99.7%
	Aerospace & Defense — 1.0%
220	Howmet Aerospace, Inc.	$	2,878
12	Lockheed Martin Corp.		4,661
26	Teledyne Technologies, Inc. (a)		9,727
31	Textron, Inc.		960
			18,226
	Air Freight & Logistics — 0.4%
68	C.H. Robinson Worldwide, Inc.		5,517
14	Expeditors International of Washington, Inc.		1,069
			6,586
	Airlines — 0.2%
128	Southwest Airlines Co.		4,109
	Auto Components — 0.4%
232	BorgWarner, Inc.		7,459
	Automobiles — 0.0%
28	Harley-Davidson, Inc.		598
	Banks — 2.1%
109	Citigroup, Inc.		5,222
136	Citizens Financial Group, Inc.		3,278
74	Comerica, Inc.		2,690
102	JPMorgan Chase & Co.		9,926
8	M&T Bank Corp.		845
271	Regions Financial Corp.		3,065
228	Wells Fargo & Co.		6,035
230	Zions Bancorp N.A.		7,568
			38,629
	Beverages — 1.0%
90	Coca-Cola (The) Co.		4,202
76	Monster Beverage Corp. (a)		5,465
64	PepsiCo, Inc.		8,419
			18,086
	Biotechnology — 3.4%
185	AbbVie, Inc.		17,144
42	Alexion Pharmaceuticals, Inc. (a)		5,036
38	Amgen, Inc.		8,729
27	Biogen, Inc. (a)		8,291
166	Gilead Sciences, Inc.		12,920
8	Neurocrine Biosciences, Inc. (a)		998
8	Regeneron Pharmaceuticals, Inc. (a)		4,902
20	Vertex Pharmaceuticals, Inc. (a)		5,759
			63,779
	Building Products — 1.1%
90	A.O. Smith Corp.		4,275
10	Allegion PLC		997
94	Fortune Brands Home & Security, Inc.		5,730
68	Johnson Controls International PLC		2,136
44	Masco Corp.		2,053

Shares	Description	Value
	Common Stocks (Continued)
	Building Products (Continued)
50	Trane Technologies PLC	$	4,510
			19,701
	Capital Markets — 3.3%
8	Ameriprise Financial, Inc.		1,121
8	BlackRock, Inc.		4,229
159	Blackstone Group (The), Inc., Class A		9,031
20	Cboe Global Markets, Inc.		2,129
381	Franklin Resources, Inc.		7,189
2	MarketAxess Holdings, Inc.		1,017
26	Moody’s Corp.		6,953
26	Morgan Stanley		1,149
30	MSCI, Inc.		9,866
20	Nasdaq, Inc.		2,369
20	S&P Global, Inc.		6,500
16	SEI Investments Co.		868
54	T. Rowe Price Group, Inc.		6,529
46	Tradeweb Markets, Inc., Class A		3,034
			61,984
	Chemicals — 2.0%
61	DuPont de Nemours, Inc.		3,095
13	Eastman Chemical Co.		885
94	FMC Corp.		9,251
34	Linde PLC		6,880
11	LyondellBasell Industries N.V., Class A		701
54	PPG Industries, Inc.		5,490
18	Sherwin-Williams (The) Co.		10,689
			36,991
	Commercial Services & Supplies — 0.6%
22	Cintas Corp.		5,455
56	Copart, Inc. (a)		5,006
			10,461
	Communications Equipment — 1.9%
344	Cisco Systems, Inc.		16,450
66	F5 Networks, Inc. (a)		9,565
372	Juniper Networks, Inc.		9,025
6	Ubiquiti, Inc.		1,106
			36,146
	Construction & Engineering — 0.1%
26	Jacobs Engineering Group, Inc.		2,185
	Consumer Finance — 0.3%
153	Ally Financial, Inc.		2,668
186	Synchrony Financial		3,789
			6,457
	Containers & Packaging — 0.7%
42	Avery Dennison Corp.		4,648
141	International Paper Co.		4,801

First Trust Active Factor Large Cap ETF (AFLG)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Containers & Packaging (Continued)
42	Packaging Corp. of America	$	4,259
			13,708
	Distributors — 0.2%
82	LKQ Corp. (a)		2,252
6	Pool Corp.		1,614
			3,866
	Diversified Financial Services — 0.7%
48	Berkshire Hathaway, Inc., Class B (a)		8,908
203	Equitable Holdings, Inc.		3,879
			12,787
	Diversified Telecommunication Services — 1.7%
500	AT&T, Inc.		15,430
290	Verizon Communications, Inc.		16,640
			32,070
	Electric Utilities — 3.1%
44	Entergy Corp.		4,480
147	Evergy, Inc.		9,069
12	Eversource Energy		1,005
236	Exelon Corp.		9,041
150	FirstEnergy Corp.		6,339
52	NextEra Energy, Inc.		13,289
128	NRG Energy, Inc.		4,614
59	Pinnacle West Capital Corp.		4,596
97	Southern (The) Co.		5,536
			57,969
	Electrical Equipment — 0.9%
137	Eaton Corp. PLC		11,631
60	Emerson Electric Co.		3,661
6	Rockwell Automation, Inc.		1,297
			16,589
	Electronic Equipment, Instruments & Components — 1.0%
18	CDW Corp.		1,997
41	FLIR Systems, Inc.		1,894
32	Keysight Technologies, Inc. (a)		3,460
117	TE Connectivity Ltd.		9,506
4	Zebra Technologies Corp., Class A (a)		1,045
			17,902
	Entertainment — 1.1%
170	Activision Blizzard, Inc.		12,237
64	Electronic Arts, Inc. (a)		7,864
			20,101
	Equity Real Estate Investment Trusts — 4.6%
58	American Tower Corp.		14,974
38	Crown Castle International Corp.		6,542

Shares	Description	Value
	Common Stocks (Continued)
	Equity Real Estate Investment Trusts (Continued)
2	Equinix, Inc.	$	1,395
126	Equity LifeStyle Properties, Inc.		7,850
64	Equity Residential		3,876
16	Essex Property Trust, Inc.		3,884
46	Gaming and Leisure Properties, Inc.		1,589
583	Host Hotels & Resorts, Inc.		6,961
82	Mid-America Apartment Communities, Inc.		9,542
46	Public Storage		9,326
96	Regency Centers Corp.		4,108
18	SBA Communications Corp.		5,654
39	Simon Property Group, Inc.		2,250
33	SL Green Realty Corp.		1,390
32	Sun Communities, Inc.		4,390
81	Vornado Realty Trust		2,933
			86,664
	Food & Staples Retailing — 2.4%
46	Costco Wholesale Corp.		14,190
73	Sysco Corp.		4,027
96	Walgreens Boots Alliance, Inc.		4,122
184	Walmart, Inc.		22,827
			45,166
	Food Products — 1.9%
110	Archer-Daniels-Midland Co.		4,324
108	Campbell Soup Co.		5,506
229	General Mills, Inc.		14,436
102	Hormel Foods Corp.		4,981
48	J.M. Smucker (The) Co.		5,468
			34,715
	Health Care Equipment & Supplies — 2.0%
96	DENTSPLY SIRONA, Inc.		4,466
18	Edwards Lifesciences Corp. (a)		4,045
18	Masimo Corp. (a)		4,323
22	Medtronic PLC		2,169
58	ResMed, Inc.		9,328
62	West Pharmaceutical Services, Inc.		13,394
			37,725
	Health Care Providers & Services — 4.0%
22	AmerisourceBergen Corp.		2,097
11	Anthem, Inc.		3,235
20	Cardinal Health, Inc.		1,094
90	CVS Health Corp.		5,901
70	DaVita, Inc. (a)		5,667
168	Henry Schein, Inc. (a)		10,201
43	Humana, Inc.		17,658
6	Laboratory Corp. of America Holdings (a)		1,052
21	McKesson Corp.		3,332

First Trust Active Factor Large Cap ETF (AFLG)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Health Care Providers & Services (Continued)
6	Molina Healthcare, Inc. (a)	$	1,115
47	Quest Diagnostics, Inc.		5,559
55	UnitedHealth Group, Inc.		16,767
8	Universal Health Services, Inc., Class B		844
			74,522
	Health Care Technology — 0.3%
60	Cerner Corp.		4,374
6	Teladoc Health, Inc. (a)		1,044
			5,418
	Hotels, Restaurants & Leisure — 0.5%
4	Chipotle Mexican Grill, Inc. (a)		4,016
10	Domino’s Pizza, Inc.		3,858
10	Hilton Worldwide Holdings, Inc.		793
95	Norwegian Cruise Line Holdings Ltd. (a)		1,488
			10,155
	Household Durables — 1.7%
180	D.R. Horton, Inc.		9,954
58	Garmin Ltd.		5,230
69	Lennar Corp., Class A		4,172
278	PulteGroup, Inc.		9,443
28	Whirlpool Corp.		3,411
			32,210
	Household Products — 0.6%
52	Clorox (The) Co.		10,725
	Independent Power and Renewable Electricity Producers — 0.4%
407	Vistra Energy Corp.		8,319
	Industrial Conglomerates — 0.3%
36	Honeywell International, Inc.		5,251
	Insurance — 3.8%
104	Allstate (The) Corp.		10,172
38	Aon PLC, Class A		7,484
104	Arthur J. Gallagher & Co.		9,805
38	Assurant, Inc.		3,898
156	Brown & Brown, Inc.		6,271
106	CNA Financial Corp.		3,204
4	Everest Re Group Ltd.		794
102	Loews Corp.		3,391
108	Marsh & McLennan Cos., Inc.		11,439
115	MetLife, Inc.		4,141
14	Progressive (The) Corp.		1,088
60	Prudential Financial, Inc.		3,658
16	Travelers (The) Cos., Inc.		1,712
166	Unum Group		2,515

Shares	Description	Value
	Common Stocks (Continued)
	Insurance (Continued)
14	W.R. Berkley Corp.	$	811
			70,383
	Interactive Media & Services — 3.0%
28	Alphabet, Inc., Class A (a)		40,139
48	Facebook, Inc., Class A (a)		10,804
52	Match Group, Inc. (a)		4,630
			55,573
	Internet & Direct Marketing Retail — 3.6%
20	Amazon.com, Inc. (a)		48,848
2	Booking Holdings, Inc. (a)		3,279
319	eBay, Inc.		14,527
			66,654
	IT Services — 4.6%
67	Accenture PLC, Class A		13,509
8	Automatic Data Processing, Inc.		1,172
78	Black Knight, Inc. (a)		6,004
75	Booz Allen Hamilton Holding Corp.		5,982
9	Broadridge Financial Solutions, Inc.		1,090
164	Cognizant Technology Solutions Corp., Class A		8,692
94	International Business Machines Corp.		11,741
58	Jack Henry & Associates, Inc.		10,490
104	Leidos Holdings, Inc.		10,950
12	Paychex, Inc.		867
40	Visa, Inc., Class A		7,810
409	Western Union (The) Co.		8,188
			86,495
	Life Sciences Tools & Services — 0.5%
10	Bio-Rad Laboratories, Inc., Class A (a)		4,913
16	Bio-Techne Corp.		4,237
			9,150
	Machinery — 1.8%
62	Cummins, Inc.		10,515
60	Dover Corp.		5,835
48	Illinois Tool Works, Inc.		8,278
6	Nordson Corp.		1,130
62	Snap-on, Inc.		8,041
			33,799
	Media — 2.6%
2	Cable One, Inc.		3,774
24	Charter Communications, Inc., Class A (a)		13,056
364	Comcast Corp., Class A		14,414
76	Discovery, Inc., Class A (a)		1,653
140	Fox Corp., Class A		4,084
20	Liberty Broadband Corp., Class C (a)		2,732

First Trust Active Factor Large Cap ETF (AFLG)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Media (Continued)
103	Liberty Media Corp.-Liberty SiriusXM, Class C (a)	$	3,757
77	Omnicom Group, Inc.		4,219
26	ViacomCBS, Inc., Class B		539
			48,228
	Metals & Mining — 0.7%
28	Arconic Corp. (a)		405
84	Newmont Corp.		4,911
203	Nucor Corp.		8,579
			13,895
	Multiline Retail — 1.2%
36	Dollar General Corp.		6,894
63	Kohl’s Corp.		1,211
114	Target Corp.		13,946
			22,051
	Multi-Utilities — 0.4%
48	Consolidated Edison, Inc.		3,603
86	Public Service Enterprise Group, Inc.		4,389
			7,992
	Oil, Gas & Consumable Fuels — 2.6%
75	Cabot Oil & Gas Corp.		1,488
147	Chevron Corp.		13,480
242	ConocoPhillips		10,208
4	Devon Energy Corp.		43
154	Exxon Mobil Corp.		7,002
121	HollyFrontier Corp.		3,806
50	Kinder Morgan, Inc.		790
32	Marathon Petroleum Corp.		1,125
63	Phillips 66		4,930
77	Valero Energy Corp.		5,131
			48,003
	Pharmaceuticals — 5.6%
383	Bristol-Myers Squibb Co.		22,873
112	Eli Lilly and Co.		17,130
203	Johnson & Johnson		30,196
194	Merck & Co., Inc.		15,660
428	Pfizer, Inc.		16,345
18	Zoetis, Inc.		2,509
			104,713
	Professional Services — 0.5%
13	IHS Markit Ltd.		903
169	Robert Half International, Inc.		8,575
			9,478
	Real Estate Management & Development — 0.2%
96	CBRE Group, Inc., Class A (a)		4,222

Shares	Description	Value
	Common Stocks (Continued)
	Road & Rail — 0.9%
24	Kansas City Southern	$	3,612
74	Old Dominion Freight Line, Inc.		12,661
			16,273
	Semiconductors & Semiconductor Equipment — 2.9%
118	Advanced Micro Devices, Inc. (a)		6,349
18	Applied Materials, Inc.		1,011
169	Intel Corp.		10,635
22	KLA Corp.		3,871
18	Lam Research Corp.		4,926
70	Maxim Integrated Products, Inc.		4,038
46	NVIDIA Corp.		16,331
65	Texas Instruments, Inc.		7,718
			54,879
	Software — 7.6%
36	ANSYS, Inc. (a)		10,188
12	Cadence Design Systems, Inc. (a)		1,096
136	Citrix Systems, Inc.		20,144
20	Fair Isaac Corp. (a)		8,053
360	Microsoft Corp.		65,970
571	NortonLifeLock, Inc.		13,007
166	Oracle Corp.		8,926
10	RingCentral, Inc., Class A (a)		2,743
8	Synopsys, Inc. (a)		1,447
30	Tyler Technologies, Inc. (a)		11,259
			142,833
	Specialty Retail — 2.3%
100	Best Buy Co., Inc.		7,809
84	Home Depot (The), Inc.		20,872
58	Lowe’s Cos., Inc.		7,560
110	TJX (The) Cos., Inc.		5,804
10	Tractor Supply Co.		1,220
			43,265
	Technology Hardware, Storage & Peripherals — 6.8%
350	Apple, Inc.		111,279
200	Hewlett Packard Enterprise Co.		1,942
285	HP, Inc.		4,315
90	NetApp, Inc.		4,009
33	Seagate Technology PLC		1,750
196	Xerox Holdings Corp.		3,112
			126,407
	Textiles, Apparel & Luxury Goods — 1.0%
152	NIKE, Inc., Class B		14,984
46	Ralph Lauren Corp.		3,474
			18,458
	Tobacco — 0.6%
124	Altria Group, Inc.		4,842

First Trust Active Factor Large Cap ETF (AFLG)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Tobacco (Continued)
74	Philip Morris International, Inc.	$	5,429
			10,271
	Trading Companies & Distributors — 0.3%
126	Fastenal Co.		5,199
4	W.W. Grainger, Inc.		1,238
			6,437
	Wireless Telecommunication Services — 0.3%
52	T-Mobile US, Inc. (a)		5,202
	Total Common Stocks — 99.7%		1,861,920
	(Cost $1,912,979)
	Money Market Funds — 0.1%
2,244	Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 0.05% (b)		2,244
	(Cost $2,244)
	Total Investments — 99.8%		1,864,164
	(Cost $1,915,223) (c)
	Net Other Assets and Liabilities — 0.2%		2,987
	Net Assets — 100.0%	$	1,867,151

(a)	Non-income producing security.
(b)	Rate shown reflects yield as of May 31, 2020.
(c)	Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $93,632 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $144,691. The net unrealized depreciation was $51,059.

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Common Stocks*	$	1,861,920	$	—	$	—
Money Market Funds		2,244		—		—
Total Investments	$	1,864,164	$	—	$	—
* See Portfolio of Investments for industry breakout.

First Trust Active Factor Mid Cap ETF (AFMC)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks — 99.6%
	Aerospace & Defense — 0.8%
76	BWX Technologies, Inc.	$	4,755
24	Teledyne Technologies, Inc. (a)		8,979
			13,734
	Air Freight & Logistics — 0.3%
70	XPO Logistics, Inc. (a)		5,517
	Airlines — 0.2%
342	JetBlue Airways Corp. (a)		3,444
	Auto Components — 1.3%
114	BorgWarner, Inc.		3,665
320	Gentex Corp.		8,461
96	Lear Corp.		10,181
			22,307
	Automobiles — 0.0%
28	Harley-Davidson, Inc.		598
	Banks — 4.4%
327	Associated Banc-Corp.		4,581
70	Bank of Hawaii Corp.		4,503
141	BankUnited, Inc.		2,606
108	CIT Group, Inc.		1,959
209	Commerce Bancshares, Inc.		13,320
242	CVB Financial Corp.		4,721
20	First Citizens BancShares, Inc., Class A		7,700
397	First Hawaiian, Inc.		6,848
336	Fulton Financial Corp.		3,767
186	Hancock Whitney Corp.		4,021
386	PacWest Bancorp		6,682
613	Sterling Bancorp		7,540
216	Zions Bancorp N.A.		7,107
			75,355
	Biotechnology — 1.8%
40	ACADIA Pharmaceuticals, Inc. (a)		1,987
10	Acceleron Pharma, Inc. (a)		988
18	Allogene Therapeutics, Inc. (a)		867
44	Emergent BioSolutions, Inc. (a)		3,674
398	Exelixis, Inc. (a)		9,835
38	Halozyme Therapeutics, Inc. (a)		922
75	Ligand Pharmaceuticals, Inc. (a)		7,618
84	Momenta Pharmaceuticals, Inc. (a)		2,644
14	United Therapeutics Corp. (a)		1,651
			30,186
	Building Products — 1.5%
84	A.O. Smith Corp.		3,990
106	Advanced Drainage Systems, Inc.		4,700
144	Fortune Brands Home & Security, Inc.		8,778
109	Simpson Manufacturing Co., Inc.		8,727
			26,195

Shares	Description	Value
	Common Stocks (Continued)
	Capital Markets — 2.7%
138	Cohen & Steers, Inc.	$	8,770
12	FactSet Research Systems, Inc.		3,690
116	Houlihan Lokey, Inc.		7,015
764	Janus Henderson Group PLC		16,472
186	SEI Investments Co.		10,085
			46,032
	Chemicals — 1.5%
128	Cabot Corp.		4,572
8	NewMarket Corp.		3,489
280	Olin Corp.		3,368
138	RPM International, Inc.		10,320
24	Scotts Miracle-Gro (The) Co.		3,422
			25,171
	Commercial Services & Supplies — 1.4%
28	Deluxe Corp.		653
272	HNI Corp.		6,928
261	KAR Auction Services, Inc.		3,745
60	MSA Safety, Inc.		7,136
108	Stericycle, Inc. (a)		5,922
			24,384
	Communications Equipment — 2.7%
238	Ciena Corp. (a)		13,152
117	EchoStar Corp., Class A (a)		3,646
17	F5 Networks, Inc. (a)		2,464
344	Juniper Networks, Inc.		8,346
142	Lumentum Holdings, Inc. (a)		10,411
179	NetScout Systems, Inc. (a)		4,917
187	Viavi Solutions, Inc. (a)		2,167
			45,103
	Construction & Engineering — 0.6%
157	AECOM (a)		6,087
71	EMCOR Group, Inc.		4,512
			10,599
	Consumer Finance — 0.4%
401	Navient Corp.		2,984
210	Santander Consumer USA Holdings, Inc.		3,471
			6,455
	Containers & Packaging — 0.6%
326	Graphic Packaging Holding Co.		4,717
152	Silgan Holdings, Inc.		5,083
			9,800
	Distributors — 0.9%
57	Pool Corp.		15,334
	Diversified Consumer Services — 0.6%
300	Adtalem Global Education, Inc. (a)		10,038

First Trust Active Factor Mid Cap ETF (AFMC)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Diversified Financial Services — 1.0%
602	Jefferies Financial Group, Inc.	$	8,819
164	Voya Financial, Inc.		7,388
			16,207
	Diversified Telecommunication Services — 0.6%
82	Cogent Communications Holdings, Inc.		6,275
68	GCI Liberty, Inc., Class A (a)		4,705
			10,980
	Electric Utilities — 2.8%
424	Hawaiian Electric Industries, Inc.		16,731
108	IDACORP, Inc.		10,069
160	OGE Energy Corp.		5,011
336	Portland General Electric Co.		15,829
			47,640
	Electrical Equipment — 2.4%
48	Acuity Brands, Inc.		4,135
105	Generac Holdings, Inc. (a)		11,684
311	GrafTech International Ltd.		2,127
50	Hubbell, Inc.		6,121
198	Regal Beloit Corp.		15,749
			39,816
	Electronic Equipment, Instruments & Components — 4.2%
106	Arrow Electronics, Inc. (a)		7,323
123	Avnet, Inc.		3,351
50	Cognex Corp.		2,837
73	Dolby Laboratories, Inc., Class A		4,433
109	FLIR Systems, Inc.		5,036
110	Jabil, Inc.		3,291
35	Littelfuse, Inc.		5,687
120	National Instruments Corp.		4,646
128	SYNNEX Corp.		13,651
70	Trimble, Inc. (a)		2,738
553	Vishay Intertechnology, Inc.		8,992
38	Zebra Technologies Corp., Class A (a)		9,930
			71,915
	Energy Equipment & Services — 0.2%
94	Helmerich & Payne, Inc.		1,892
399	Patterson-UTI Energy, Inc.		1,473
			3,365
	Entertainment — 0.0%
31	Cinemark Holdings, Inc.		466

Shares	Description	Value
	Common Stocks (Continued)
	Equity Real Estate Investment Trusts — 7.7%
246	Alexander & Baldwin, Inc.	$	2,807
218	American Homes 4 Rent, Class A		5,502
639	Apple Hospitality REIT, Inc.		6,524
106	Brixmor Property Group, Inc.		1,183
58	Camden Property Trust		5,311
726	CoreCivic, Inc.		8,734
34	CoreSite Realty Corp.		4,244
34	CyrusOne, Inc.		2,528
48	EastGroup Properties, Inc.		5,580
282	Equity Commonwealth		9,503
269	First Industrial Realty Trust, Inc.		10,190
323	Gaming and Leisure Properties, Inc.		11,156
442	GEO Group (The), Inc.		5,295
160	Healthcare Trust of America, Inc., Class A		4,235
30	Highwoods Properties, Inc.		1,148
471	Lexington Realty Trust		4,578
62	Life Storage, Inc.		6,044
191	Macerich (The) Co.		1,301
182	Omega Healthcare Investors, Inc.		5,668
288	Park Hotels & Resorts, Inc.		2,831
38	PS Business Parks, Inc.		5,078
48	QTS Realty Trust, Inc., Class A		3,293
90	Regency Centers Corp.		3,851
100	Rexford Industrial Realty, Inc.		3,980
265	Service Properties Trust		1,789
84	Terreno Realty Corp.		4,300
264	Weingarten Realty Investors		4,720
			131,373
	Food & Staples Retailing — 0.4%
236	Sprouts Farmers Market, Inc. (a)		5,931
	Food Products — 1.6%
288	Flowers Foods, Inc.		6,794
210	Hain Celestial Group (The), Inc. (a)		6,611
153	Ingredion, Inc.		12,887
			26,292
	Gas Utilities — 0.7%
108	National Fuel Gas Co.		4,533
70	ONE Gas, Inc.		5,878
54	UGI Corp.		1,719
			12,130
	Health Care Equipment & Supplies — 3.8%
6	ABIOMED, Inc. (a)		1,343
20	Globus Medical, Inc., Class A (a)		1,093
14	Haemonetics Corp. (a)		1,535
41	Hill-Rom Holdings, Inc.		4,168
6	ICU Medical, Inc. (a)		1,198
20	Integra LifeSciences Holdings Corp. (a)		1,042

First Trust Active Factor Mid Cap ETF (AFMC)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Health Care Equipment & Supplies (Continued)
8	iRhythm Technologies, Inc. (a)	$	994
46	Masimo Corp. (a)		11,049
40	Nevro Corp. (a)		5,024
31	NuVasive, Inc. (a)		1,879
10	Penumbra, Inc. (a)		1,724
6	Quidel Corp. (a)		1,050
40	STERIS PLC		6,636
12	Tandem Diabetes Care, Inc. (a)		998
113	West Pharmaceutical Services, Inc.		24,413
			64,146
	Health Care Providers & Services — 5.6%
74	Amedisys, Inc. (a)		14,212
82	AMN Healthcare Services, Inc. (a)		3,638
29	Chemed Corp.		13,877
187	DaVita, Inc. (a)		15,140
126	Encompass Health Corp.		9,229
68	Henry Schein, Inc. (a)		4,129
32	LHC Group, Inc. (a)		5,200
38	MEDNAX, Inc. (a)		590
118	Molina Healthcare, Inc. (a)		21,927
328	Patterson Cos., Inc.		6,458
			94,400
	Health Care Technology — 0.7%
192	Inovalon Holdings, Inc., Class A (a)		3,614
10	Omnicell, Inc. (a)		669
40	Teladoc Health, Inc. (a)		6,962
			11,245
	Hotels, Restaurants & Leisure — 1.6%
42	Churchill Downs, Inc.		5,572
32	Domino’s Pizza, Inc.		12,347
11	Marriott Vacations Worldwide Corp.		988
98	Papa John’s International, Inc.		7,633
8	Wingstop, Inc.		976
			27,516
	Household Durables — 2.5%
42	Helen of Troy Ltd. (a)		7,641
158	KB Home		5,227
148	PulteGroup, Inc.		5,027
161	Toll Brothers, Inc.		5,202
88	TopBuild Corp. (a)		10,093
361	TRI Pointe Group, Inc. (a)		5,169
34	Whirlpool Corp.		4,142
			42,501
	Independent Power and Renewable Electricity Producers — 0.3%
252	TerraForm Power, Inc., Class A		4,632

Shares	Description	Value
	Common Stocks (Continued)
	Industrial Conglomerates — 0.1%
18	Carlisle Cos., Inc.	$	2,157
	Insurance — 3.5%
36	Assurant, Inc.		3,693
128	Brighthouse Financial, Inc. (a)		3,803
326	Brown & Brown, Inc.		13,105
320	CNO Financial Group, Inc.		4,592
234	First American Financial Corp.		11,815
44	Hanover Insurance Group (The), Inc.		4,415
447	Old Republic International Corp.		6,969
38	RenaissanceRe Holdings Ltd.		6,379
343	Unum Group		5,196
			59,967
	Internet & Direct Marketing Retail — 0.1%
6	Stamps.com, Inc. (a)		1,189
	IT Services — 2.7%
10	Alliance Data Systems Corp.		463
86	CACI International, Inc., Class A (a)		21,567
38	Euronet Worldwide, Inc. (a)		3,600
205	KBR, Inc.		4,807
121	MAXIMUS, Inc.		8,714
220	Perspecta, Inc.		4,877
76	Sabre Corp.		530
14	Science Applications International Corp.		1,233
			45,791
	Leisure Products — 0.7%
216	Brunswick Corp.		11,882
	Life Sciences Tools & Services — 3.7%
53	Bio-Rad Laboratories, Inc., Class A (a)		26,040
10	Bio-Techne Corp.		2,648
40	Bruker Corp.		1,731
49	Charles River Laboratories International, Inc. (a)		8,803
100	Medpace Holdings, Inc. (a)		9,282
124	NeoGenomics, Inc. (a)		3,310
34	PRA Health Sciences, Inc. (a)		3,519
14	Repligen Corp. (a)		1,834
91	Syneos Health, Inc. (a)		5,550
			62,717
	Machinery — 3.4%
82	AGCO Corp.		4,529
123	Allison Transmission Holdings, Inc.		4,640
78	Crane Co.		4,346
118	Graco, Inc.		5,689
76	Lincoln Electric Holdings, Inc.		6,245
50	Nordson Corp.		9,417
139	Oshkosh Corp.		9,983

First Trust Active Factor Mid Cap ETF (AFMC)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Machinery (Continued)
61	Snap-on, Inc.	$	7,911
112	Timken (The) Co.		4,764
10	Watts Water Technologies, Inc., Class A		832
			58,356
	Media — 1.9%
215	AMC Networks, Inc., Class A (a)		6,078
4	Cable One, Inc.		7,548
210	Interpublic Group of (The) Cos., Inc.		3,593
96	John Wiley & Sons, Inc., Class A		3,859
178	Meredith Corp.		2,659
218	New York Times (The) Co., Class A		8,552
			32,289
	Metals & Mining — 2.9%
820	Commercial Metals Co.		14,071
242	Reliance Steel & Aluminum Co.		23,474
409	Steel Dynamics, Inc.		10,863
			48,408
	Multiline Retail — 0.5%
99	Dillard’s, Inc., Class A		2,971
84	Kohl’s Corp.		1,615
373	Macy’s, Inc.		2,372
103	Nordstrom, Inc.		1,661
			8,619
	Multi-Utilities — 2.1%
102	Avista Corp.		3,995
680	MDU Resources Group, Inc.		14,797
265	NorthWestern Corp.		15,932
			34,724
	Oil, Gas & Consumable Fuels — 0.6%
62	Cabot Oil & Gas Corp.		1,230
158	CVR Energy, Inc.		3,223
454	Devon Energy Corp.		4,908
19	HollyFrontier Corp.		598
			9,959
	Paper & Forest Products — 0.6%
308	Domtar Corp.		6,283
194	Louisiana-Pacific Corp.		4,581
			10,864
	Personal Products — 0.5%
217	Nu Skin Enterprises, Inc., Class A		8,068
	Pharmaceuticals — 0.5%
10	MyoKardia, Inc. (a)		1,023
172	Prestige Consumer Healthcare, Inc. (a)		7,258
			8,281

Shares	Description	Value
	Common Stocks (Continued)
	Professional Services — 1.4%
25	CoreLogic, Inc.	$	1,239
42	FTI Consulting, Inc. (a)		5,060
137	ManpowerGroup, Inc.		9,472
172	Robert Half International, Inc.		8,727
			24,498
	Road & Rail — 1.6%
54	Landstar System, Inc.		6,278
61	Old Dominion Freight Line, Inc.		10,436
196	Schneider National, Inc., Class B		4,737
112	Werner Enterprises, Inc.		5,177
			26,628
	Semiconductors & Semiconductor Equipment — 3.1%
208	Cirrus Logic, Inc. (a)		15,076
24	Enphase Energy, Inc. (a)		1,396
94	Entegris, Inc.		5,629
176	Lattice Semiconductor Corp. (a)		4,377
34	SolarEdge Technologies, Inc. (a)		4,825
125	Synaptics, Inc. (a)		7,965
207	Teradyne, Inc.		13,873
			53,141
	Software — 4.8%
38	Appfolio, Inc., Class A (a)		6,023
8	Aspen Technology, Inc. (a)		845
14	Blackline, Inc. (a)		1,040
66	CDK Global, Inc.		2,595
60	Envestnet, Inc. (a)		4,357
38	Fair Isaac Corp. (a)		15,301
10	Five9, Inc. (a)		1,042
121	J2 Global, Inc. (a)		9,474
20	Manhattan Associates, Inc. (a)		1,768
435	Nuance Communications, Inc. (a)		9,953
62	Pegasystems, Inc.		5,897
38	Qualys, Inc. (a)		4,382
48	Tyler Technologies, Inc. (a)		18,015
			80,692
	Specialty Retail — 2.7%
314	American Eagle Outfitters, Inc.		2,876
112	AutoNation, Inc. (a)		4,422
116	Dick’s Sporting Goods, Inc.		4,183
301	Foot Locker, Inc.		8,338
50	Murphy USA, Inc. (a)		5,805
96	Penske Automotive Group, Inc.		3,433
32	RH (a)		6,940
116	Williams-Sonoma, Inc.		9,652
			45,649
	Technology Hardware, Storage & Peripherals — 0.5%
36	NCR Corp. (a)		650

First Trust Active Factor Mid Cap ETF (AFMC)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Technology Hardware, Storage & Peripherals (Continued)
457	Xerox Holdings Corp.	$	7,257
			7,907
	Textiles, Apparel & Luxury Goods — 1.7%
86	Carter’s, Inc.		7,388
50	Deckers Outdoor Corp. (a)		9,127
174	Hanesbrands, Inc.		1,716
40	PVH Corp.		1,819
46	Ralph Lauren Corp.		3,473
146	Steven Madden Ltd.		3,434
164	Tapestry, Inc.		2,230
			29,187
	Thrifts & Mortgage Finance — 0.9%
804	MGIC Investment Corp.		6,601
543	New York Community Bancorp, Inc.		5,457
190	Radian Group, Inc.		3,017
			15,075
	Trading Companies & Distributors — 1.3%
50	HD Supply Holdings, Inc. (a)		1,586
222	MSC Industrial Direct Co., Inc., Class A		15,393
36	SiteOne Landscape Supply, Inc. (a)		3,827
10	Watsco, Inc.		1,779
			22,585
	Total Common Stocks — 99.6%		1,689,440
	(Cost $1,862,204)
	Money Market Funds — 0.3%
4,447	Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 0.05% (b)		4,447
	(Cost $4,447)
	Total Investments — 99.9%		1,693,887
	(Cost $1,866,651) (c)
	Net Other Assets and Liabilities — 0.1%		1,803
	Net Assets — 100.0%	$	1,695,690

(a)	Non-income producing security.
(b)	Rate shown reflects yield as of May 31, 2020.
(c)	Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $67,023 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $239,787. The net unrealized depreciation was $172,764.

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Common Stocks*	$	1,689,440	$	—	$	—
Money Market Funds		4,447		—		—
Total Investments	$	1,693,887	$	—	$	—
* See Portfolio of Investments for industry breakout.

First Trust Active Factor Small Cap ETF (AFSM)

Portfolio of Investments

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks — 99.7%
	Aerospace & Defense — 0.4%
160	Maxar Technologies, Inc.	$	2,411
76	Vectrus, Inc. (a)		4,174
			6,585
	Air Freight & Logistics — 0.2%
72	Hub Group, Inc., Class A (a)		3,367
	Auto Components — 0.8%
332	Dana, Inc.		4,197
94	LCI Industries		9,299
			13,496
	Automobiles — 0.4%
124	Winnebago Industries, Inc.		6,746
	Banks — 5.8%
46	Associated Banc-Corp.		644
169	Bank OZK		3,801
44	Berkshire Hills Bancorp, Inc.		476
451	Boston Private Financial Holdings, Inc.		3,098
77	Cathay General Bancorp		2,094
205	Central Pacific Financial Corp.		3,303
152	Columbia Banking System, Inc.		3,703
72	Community Bank System, Inc.		4,278
374	CVB Financial Corp.		7,297
227	First Financial Bancorp		3,017
169	First Hawaiian, Inc.		2,915
330	Fulton Financial Corp.		3,699
158	Great Western Bancorp, Inc.		2,250
158	Hancock Whitney Corp.		3,416
226	Hilltop Holdings, Inc.		4,224
445	Hope Bancorp, Inc.		4,225
142	International Bancshares Corp.		4,371
466	Investors Bancorp, Inc.		4,045
342	Pacific Premier Bancorp, Inc.		7,394
152	PacWest Bancorp		2,631
290	Renasant Corp.		6,995
140	ServisFirst Bancshares, Inc.		4,883
211	Sterling Bancorp		2,595
130	Triumph Bancorp, Inc. (a)		3,192
104	Trustmark Corp.		2,474
68	Westamerica Bancorporation		4,011
			95,031
	Biotechnology — 6.4%
58	ACADIA Pharmaceuticals, Inc. (a)		2,881
102	Acceleron Pharma, Inc. (a)		10,081
254	Akebia Therapeutics, Inc. (a)		2,957
213	Anika Therapeutics, Inc. (a)		7,142
132	Arena Pharmaceuticals, Inc. (a)		7,890
46	Constellation Pharmaceuticals, Inc. (a)		1,634
48	Cue Biopharma, Inc. (a)		1,329
91	Eagle Pharmaceuticals, Inc. (a)		4,665
22	Eidos Therapeutics, Inc. (a)		1,076

Shares	Description	Value
	Common Stocks (Continued)
	Biotechnology (Continued)
56	Emergent BioSolutions, Inc. (a)	$	4,675
148	Enanta Pharmaceuticals, Inc. (a)		7,621
271	Halozyme Therapeutics, Inc. (a)		6,577
136	Iovance Biotherapeutics, Inc. (a)		4,364
50	Kodiak Sciences, Inc. (a)		3,230
36	Krystal Biotech, Inc. (a)		1,851
94	Ligand Pharmaceuticals, Inc. (a)		9,548
183	Molecular Templates, Inc. (a)		2,840
291	Momenta Pharmaceuticals, Inc. (a)		9,161
40	Myriad Genetics, Inc. (a)		581
64	Natera, Inc. (a)		2,806
100	Principia Biopharma, Inc. (a)		6,389
539	Vanda Pharmaceuticals, Inc. (a)		6,317
			105,615
	Building Products — 2.5%
22	Advanced Drainage Systems, Inc.		976
389	Builders FirstSource, Inc. (a)		8,095
96	Gibraltar Industries, Inc. (a)		4,225
84	Masonite International Corp. (a)		5,576
121	Patrick Industries, Inc.		6,276
70	Simpson Manufacturing Co., Inc.		5,604
48	Trex Co., Inc. (a)		5,766
108	UFP Industries, Inc.		4,939
			41,457
	Capital Markets — 2.9%
148	Ares Management Corp., Class A		5,588
293	Artisan Partners Asset Management, Inc., Class A		8,488
74	Cohen & Steers, Inc.		4,703
32	Federated Hermes, Inc.		708
68	Hamilton Lane, Inc., Class A		4,976
360	Hercules Capital, Inc.		4,010
120	Houlihan Lokey, Inc.		7,258
88	PJT Partners, Inc., Class A		4,813
593	Waddell & Reed Financial, Inc., Class A		7,733
			48,277
	Chemicals — 0.6%
84	Innospec, Inc.		6,475
293	Olin Corp.		3,525
			10,000
	Commercial Services & Supplies — 2.5%
112	ABM Industries, Inc.		3,442
74	Brady Corp., Class A		3,784
24	Deluxe Corp.		560
138	Herman Miller, Inc.		3,177
126	HNI Corp.		3,209
223	KAR Auction Services, Inc.		3,200
61	Knoll, Inc.		644
70	McGrath RentCorp		3,903

First Trust Active Factor Small Cap ETF (AFSM)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Commercial Services & Supplies (Continued)
56	MSA Safety, Inc.	$	6,661
283	Steelcase, Inc., Class A		3,277
66	Tetra Tech, Inc.		5,207
22	UniFirst Corp.		3,955
			41,019
	Communications Equipment — 1.5%
141	Comtech Telecommunications Corp.		2,511
72	InterDigital, Inc.		3,958
138	Lumentum Holdings, Inc. (a)		10,118
144	NETGEAR, Inc. (a)		3,705
138	NetScout Systems, Inc. (a)		3,791
			24,083
	Construction & Engineering — 0.5%
114	Arcosa, Inc.		4,351
91	MasTec, Inc. (a)		3,563
			7,914
	Consumer Finance — 0.2%
342	Navient Corp.		2,544
	Diversified Consumer Services — 0.5%
8	Graham Holdings Co., Class B		2,866
306	Perdoceo Education Corp. (a)		4,982
			7,848
	Diversified Financial Services — 0.6%
252	Cannae Holdings, Inc. (a)		9,281
	Diversified Telecommunication Services — 0.6%
140	Cogent Communications Holdings, Inc.		10,713
	Electric Utilities — 0.6%
213	Portland General Electric Co.		10,034
	Electrical Equipment — 1.5%
136	Atkore International Group, Inc. (a)		3,650
19	AZZ, Inc.		602
128	Generac Holdings, Inc. (a)		14,243
92	Vicor Corp. (a)		5,610
			24,105
	Electronic Equipment, Instruments & Components — 3.2%
42	Badger Meter, Inc.		2,570
319	Benchmark Electronics, Inc.		6,760
16	FARO Technologies, Inc. (a)		900
84	Insight Enterprises, Inc. (a)		4,306
73	Methode Electronics, Inc.		2,288
10	OSI Systems, Inc. (a)		758
78	PC Connection, Inc.		3,376

Shares	Description	Value
	Common Stocks (Continued)
	Electronic Equipment, Instruments & Components (Continued)
213	Plexus Corp. (a)	$	13,679
218	Sanmina Corp. (a)		5,801
407	TTM Technologies, Inc. (a)		4,709
511	Vishay Intertechnology, Inc.		8,309
			53,456
	Energy Equipment & Services — 0.1%
126	Helmerich & Payne, Inc.		2,536
	Equity Real Estate Investment Trusts — 6.8%
48	Alexander & Baldwin, Inc.		548
153	Chatham Lodging Trust		1,033
436	CoreCivic, Inc.		5,245
100	CorEnergy Infrastructure Trust, Inc.		1,000
431	Easterly Government Properties, Inc.		10,805
36	EastGroup Properties, Inc.		4,185
256	First Industrial Realty Trust, Inc.		9,697
381	GEO Group (The), Inc.		4,564
340	Global Medical REIT, Inc.		3,645
160	Healthcare Realty Trust, Inc.		4,912
368	Hersha Hospitality Trust		1,855
345	Independence Realty Trust, Inc.		3,412
52	Investors Real Estate Trust		3,687
344	iStar, Inc.		3,760
24	Office Properties Income Trust		607
58	Pebblebrook Hotel Trust		792
56	Piedmont Office Realty Trust, Inc., Class A		934
66	QTS Realty Trust, Inc., Class A		4,528
658	RLJ Lodging Trust		6,784
162	RPT Realty		935
96	Safehold, Inc.		5,260
446	Summit Hotel Properties, Inc.		2,787
787	Sunstone Hotel Investors, Inc.		6,965
437	Tanger Factory Outlet Centers, Inc.		2,688
176	Terreno Realty Corp.		9,009
80	Universal Health Realty Income Trust		7,471
530	Xenia Hotels & Resorts, Inc.		4,770
			111,878
	Food & Staples Retailing — 0.3%
51	Sprouts Farmers Market, Inc. (a)		1,282
74	Weis Markets, Inc.		4,124
			5,406
	Food Products — 1.6%
324	B&G Foods, Inc.		7,524
223	Darling Ingredients, Inc. (a)		5,198
78	Freshpet, Inc. (a)		6,020
80	John B Sanfilippo & Son, Inc.		6,955
			25,697

First Trust Active Factor Small Cap ETF (AFSM)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Health Care Equipment & Supplies — 6.2%
619	AngioDynamics, Inc. (a)	$	6,320
162	AtriCure, Inc. (a)		7,745
2	Atrion Corp.		1,284
9	CONMED Corp.		661
42	CryoLife, Inc. (a)		955
162	CryoPort, Inc. (a)		3,980
104	Globus Medical, Inc., Class A (a)		5,683
12	Haemonetics Corp. (a)		1,316
24	Heska Corp. (a)		2,110
12	Inogen, Inc. (a)		456
73	Integer Holdings Corp. (a)		5,780
38	iRhythm Technologies, Inc. (a)		4,724
48	Lantheus Holdings, Inc. (a)		659
58	Meridian Bioscience, Inc. (a)		897
157	Merit Medical Systems, Inc. (a)		7,063
168	Natus Medical, Inc. (a)		3,595
26	Neogen Corp. (a)		1,852
60	Nevro Corp. (a)		7,536
48	Novocure Ltd. (a)		3,237
105	NuVasive, Inc. (a)		6,363
287	OraSure Technologies, Inc. (a)		4,173
135	Orthofix Medical, Inc. (a)		4,601
80	Quidel Corp. (a)		14,000
22	STAAR Surgical Co. (a)		854
18	Tactile Systems Technology, Inc. (a)		872
28	Tandem Diabetes Care, Inc. (a)		2,328
175	Varex Imaging Corp. (a)		3,283
			102,327
	Health Care Providers & Services — 4.6%
32	Acadia Healthcare Co., Inc. (a)		916
82	Addus HomeCare Corp. (a)		8,115
78	Amedisys, Inc. (a)		14,980
109	AMN Healthcare Services, Inc. (a)		4,835
39	BioTelemetry, Inc. (a)		1,840
25	CorVel Corp. (a)		1,697
24	Ensign Group (The), Inc.		1,049
100	LHC Group, Inc. (a)		16,251
81	Magellan Health, Inc. (a)		6,074
38	MEDNAX, Inc. (a)		590
98	Patterson Cos., Inc.		1,930
56	Providence Service (The) Corp. (a)		4,508
177	RadNet, Inc. (a)		3,016
388	Select Medical Holdings Corp. (a)		6,262
34	Tenet Healthcare Corp. (a)		740
190	Tivity Health, Inc. (a)		2,023
19	US Physical Therapy, Inc.		1,409
			76,235
	Health Care Technology — 2.3%
59	HMS Holdings Corp. (a)		1,843
469	Inovalon Holdings, Inc., Class A (a)		8,827
12	Inspire Medical Systems, Inc. (a)		978

Shares	Description	Value
	Common Stocks (Continued)
	Health Care Technology (Continued)
69	Omnicell, Inc. (a)	$	4,617
126	Simulations Plus, Inc.		6,384
92	Teladoc Health, Inc. (a)		16,014
			38,663
	Hotels, Restaurants & Leisure — 0.8%
12	Marriott Vacations Worldwide Corp.		1,078
96	Papa John’s International, Inc.		7,477
40	Wingstop, Inc.		4,878
			13,433
	Household Durables — 3.3%
146	Century Communities, Inc. (a)		4,313
32	Helen of Troy Ltd. (a)		5,821
80	Installed Building Products, Inc. (a)		5,142
276	KB Home		9,130
28	LGI Homes, Inc. (a)		2,336
20	Meritage Homes Corp. (a)		1,390
268	Taylor Morrison Home Corp. (a)		5,181
92	TopBuild Corp. (a)		10,552
694	TRI Pointe Group, Inc. (a)		9,938
			53,803
	Household Products — 0.6%
313	Central Garden & Pet Co., Class A (a)		10,723
	Independent Power and Renewable Electricity Producers — 0.2%
56	Ormat Technologies, Inc.		4,077
	Insurance — 2.5%
38	American National Insurance Co.		2,856
72	AMERISAFE, Inc.		4,419
315	CNO Financial Group, Inc.		4,520
30	eHealth, Inc. (a)		3,912
211	Employers Holdings, Inc.		6,307
80	Kinsale Capital Group, Inc.		11,946
74	Mercury General Corp.		2,977
66	Palomar Holdings, Inc. (a)		4,912
			41,849
	Interactive Media & Services — 0.4%
120	EverQuote, Inc., Class A (a)		6,470
	Internet & Direct Marketing Retail — 0.7%
36	1-800-Flowers.com, Inc., Class A (a)		797
54	Overstock.com, Inc. (a)		992
166	PetMed Express, Inc.		5,993
16	Stamps.com, Inc. (a)		3,170
			10,952
	IT Services — 2.3%
106	CSG Systems International, Inc.		5,019
62	ExlService Holdings, Inc. (a)		3,793

First Trust Active Factor Small Cap ETF (AFSM)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	IT Services (Continued)
63	KBR, Inc.	$	1,477
4	ManTech International Corp., Class A		311
82	MAXIMUS, Inc.		5,906
178	NIC, Inc.		4,283
106	Perficient, Inc. (a)		3,608
219	Perspecta, Inc.		4,855
303	Sykes Enterprises, Inc. (a)		8,260
			37,512
	Leisure Products — 0.3%
30	Acushnet Holdings Corp.		1,002
70	Sturm Ruger & Co., Inc.		4,364
			5,366
	Life Sciences Tools & Services — 1.8%
190	Luminex Corp.		5,920
72	Medpace Holdings, Inc. (a)		6,683
173	NeoGenomics, Inc. (a)		4,617
42	Repligen Corp. (a)		5,501
108	Syneos Health, Inc. (a)		6,587
			29,308
	Machinery — 2.9%
136	Astec Industries, Inc.		5,777
58	ESCO Technologies, Inc.		4,791
455	Evoqua Water Technologies Corp. (a)		8,559
70	Franklin Electric Co., Inc.		3,551
217	Meritor, Inc. (a)		4,423
286	Spartan Motors, Inc.		4,885
86	SPX Corp. (a)		3,438
14	Tennant Co.		895
36	Terex Corp.		566
722	Wabash National Corp.		6,895
40	Watts Water Technologies, Inc., Class A		3,326
			47,106
	Media — 0.9%
147	AMC Networks, Inc., Class A (a)		4,156
62	Cardlytics, Inc. (a)		4,222
77	Meredith Corp.		1,150
114	MSG Networks, Inc., Class A (a)		1,411
118	Scholastic Corp.		3,469
			14,408
	Metals & Mining — 1.2%
509	Commercial Metals Co.		8,734
240	Schnitzer Steel Industries, Inc., Class A		3,768
537	Warrior Met Coal, Inc.		7,561
			20,063

Shares	Description	Value
	Common Stocks (Continued)
	Mortgage Real Estate Investment Trust — 0.3%
156	Hannon Armstrong Sustainable Infrastructure Capital, Inc.	$	4,526
	Multiline Retail — 0.7%
212	Big Lots, Inc.		8,215
126	Dillard’s, Inc., Class A		3,781
			11,996
	Multi-Utilities — 1.7%
324	Avista Corp.		12,691
195	NorthWestern Corp.		11,724
60	Unitil Corp.		2,890
			27,305
	Oil, Gas & Consumable Fuels — 1.3%
137	Arch Resources, Inc.		4,516
177	CVR Energy, Inc.		3,611
425	Dorian LPG Ltd. (a)		3,493
183	PDC Energy, Inc. (a)		2,229
150	Renewable Energy Group, Inc. (a)		4,267
237	Teekay Tankers Ltd., Class A (a)		4,119
			22,235
	Paper & Forest Products — 1.4%
378	Boise Cascade Co.		12,863
264	Domtar Corp.		5,386
185	Louisiana-Pacific Corp.		4,368
			22,617
	Personal Products — 0.8%
44	Medifast, Inc.		4,503
115	Nu Skin Enterprises, Inc., Class A		4,276
50	USANA Health Sciences, Inc. (a)		4,236
			13,015
	Pharmaceuticals — 2.5%
213	Amphastar Pharmaceuticals, Inc. (a)		3,970
87	ANI Pharmaceuticals, Inc. (a)		2,702
34	Axsome Therapeutics, Inc. (a)		2,617
502	Corcept Therapeutics, Inc. (a)		7,600
340	Innoviva, Inc. (a)		4,750
20	Pacira BioSciences, Inc. (a)		879
43	Phibro Animal Health Corp., Class A		1,127
187	Prestige Consumer Healthcare, Inc. (a)		7,892
388	Supernus Pharmaceuticals, Inc. (a)		9,359
			40,896
	Professional Services — 1.7%
96	ASGN, Inc. (a)		5,913
16	CBIZ, Inc. (a)		362
14	Exponent, Inc.		1,039
42	FTI Consulting, Inc. (a)		5,059
116	Kforce, Inc.		3,503
146	Korn Ferry		4,418

First Trust Active Factor Small Cap ETF (AFSM)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Shares	Description	Value
	Common Stocks (Continued)
	Professional Services (Continued)
462	TrueBlue, Inc. (a)	$	7,143
			27,437
	Real Estate Management & Development — 1.0%
304	Realogy Holdings Corp.		1,842
289	Redfin Corp. (a)		8,667
209	RMR Group (The), Inc., Class A		5,635
			16,144
	Road & Rail — 0.5%
180	ArcBest Corp.		4,030
102	Werner Enterprises, Inc.		4,715
			8,745
	Semiconductors & Semiconductor Equipment — 2.9%
20	ACM Research, Inc., Class A (a)		1,196
48	Ambarella, Inc. (a)		2,723
80	Cirrus Logic, Inc. (a)		5,798
119	Diodes, Inc. (a)		5,788
168	Enphase Energy, Inc. (a)		9,776
156	Lattice Semiconductor Corp. (a)		3,880
348	Rambus, Inc. (a)		5,408
108	SMART Global Holdings, Inc. (a)		2,892
110	Synaptics, Inc. (a)		7,009
146	Ultra Clean Holdings, Inc. (a)		3,027
			47,497
	Software — 4.0%
76	Appfolio, Inc., Class A (a)		12,047
80	Blackline, Inc. (a)		5,944
157	Ebix, Inc.		3,518
70	Envestnet, Inc. (a)		5,083
34	Everbridge, Inc. (a)		4,973
68	Five9, Inc. (a)		7,086
10	J2 Global, Inc. (a)		783
297	Model N, Inc. (a)		9,540
82	Progress Software Corp.		3,313
92	Qualys, Inc. (a)		10,609
218	Xperi Corp.		2,997
			65,893
	Specialty Retail — 3.6%
140	Aaron’s, Inc.		5,167
221	Abercrombie & Fitch Co., Class A		2,568
44	America’s Car-Mart, Inc. (a)		3,501
377	American Eagle Outfitters, Inc.		3,453
232	Buckle (The), Inc.		3,267
139	Genesco, Inc. (a)		2,570
42	Group 1 Automotive, Inc.		2,644
52	Guess?, Inc.		498
492	Hibbett Sports, Inc. (a)		9,505
8	Murphy USA, Inc. (a)		929
410	Rent-A-Center, Inc.		10,439

Shares	Description	Value
	Common Stocks (Continued)
	Specialty Retail (Continued)
38	RH (a)	$	8,242
153	Signet Jewelers Ltd.		1,614
28	Sleep Number Corp. (a)		873
82	Sonic Automotive, Inc., Class A		2,155
111	Urban Outfitters, Inc. (a)		1,880
			59,305
	Textiles, Apparel & Luxury Goods — 0.7%
62	Crocs, Inc. (a)		1,776
32	Deckers Outdoor Corp. (a)		5,841
439	Movado Group, Inc.		4,610
			12,227
	Thrifts & Mortgage Finance — 1.7%
191	HomeStreet, Inc.		4,550
140	Meta Financial Group, Inc.		2,537
154	PennyMac Financial Services, Inc.		5,171
239	Provident Financial Services, Inc.		3,114
592	Radian Group, Inc.		9,401
74	Walker & Dunlop, Inc.		2,997
			27,770
	Tobacco — 0.6%
175	Universal Corp.		7,710
158	Vector Group Ltd.		1,806
			9,516
	Trading Companies & Distributors — 2.5%
538	BMC Stock Holdings, Inc. (a)		14,080
62	Foundation Building Materials, Inc. (a)		826
137	GMS, Inc. (a)		2,807
987	NOW, Inc. (a)		7,353
23	Rush Enterprises, Inc., Class A		957
66	SiteOne Landscape Supply, Inc. (a)		7,016
127	Triton International Ltd.		3,874
118	WESCO International, Inc. (a)		3,929
			40,842
	Wireless Telecommunication Services — 0.3%
209	Telephone and Data Systems, Inc.		4,282
	Total Common Stocks — 99.7%		1,641,631
	(Cost $1,832,158)
	Money Market Funds — 0.3%
4,302	Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 0.05% (b)		4,302
	(Cost $4,302)

First Trust Active Factor Small Cap ETF (AFSM)

Portfolio of Investments (Continued)

May 31, 2020 (Unaudited)                                                                                                        

Description	Value
Total Investments — 100.0%	$	1,645,933
(Cost $1,836,460) (c)
Net Other Assets and Liabilities — 0.0%		474
Net Assets — 100.0%	$	1,646,407

(a)	Non-income producing security.
(b)	Rate shown reflects yield as of May 31, 2020.
(c)	Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of May 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $75,041 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $265,568. The net unrealized depreciation was $190,527.

Valuation Inputs

A summary of the inputs used to value the Fund’s investments as of May 31, 2020 is as follows (see Valuation Inputs in the Additional Information section):

		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Common Stocks*	$	1,641,631	$	—	$	—
Money Market Funds		4,302		—		—
Total Investments	$	1,645,933	$	—	$	—
* See Portfolio of Investments for industry breakout.

Additional Information

First Trust Exchange-Traded Fund VIII

May 31, 2020 (Unaudited)

Valuation Inputs

The Funds are subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.

• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.)

• Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment.

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.