First Trust to Launch First Trust Dorsey Wright Focus 5 ETF

First Trust Advisors L.P. (“First Trust”) expects to launch a new exchange-traded fund (“ETF”), the First Trust Dorsey Wright Focus 5 ETF (NASDAQ: FV), on March 6, 2014. The fund seeks investment results that correspond generally to the price and yield (before the fund’s fees and expenses) of an equity index called the Dorsey Wright Focus Five Index (the “index”).

The Dorsey Wright Focus Five Index is designed to provide targeted exposure to the five First Trust sector and industry based ETFs identified by DWA’s index methodology to offer the greatest potential to outperform the other ETFs in the selection universe. First Trust sector and industry based ETFs provide the universe for the index selection. Using the DWA relative strength ranking system, the ETFs are compared to each other to determine inclusion. Each ETF is given a score to objectively determine where it ranks relative to all other ETFs in the universe. The top five ranking ETFs are included in the index and the relative strength analysis is conducted on a weekly basis. ETFs are replaced when they fall sufficiently out of favor, based on their relative strength, versus the other ETFs within the universe. The index is rebalanced periodically so each position is equally weighted. DWA believes the design of the index allows them to identify major themes in the market, have exposure to those sectors whose price action is superior to others in the universe and eliminate exposure to those sectors whose price action is sub-par relative to others in the universe.

Dorsey, Wright & Associates (DWA) is an independent and privately owned registered investment advisory firm that provides professional management of equity portfolios for investors and investment research services for numerous broker/dealers and large institutions around the world. Technical analysis provides the cornerstone of their approach and relative strength plays a very important role. Relative strength is a ranking system used to measure a security’s price momentum relative to its peers and helps DWA identify meaningful patterns in daily share price movements.

“This is a strategy that Dorsey Wright created and has maintained for years,” said Tom Dorsey, President & CEO of Dorsey, Wright & Associates. “I personally use the strategy in my portfolio as an important piece of the core. We are excited to continue our partnership with First Trust and to bring this strategy to investors in a single ETF, which is designed to track the newly created Dorsey Wright Focus Five Index.”

For more information about First Trust, please contact Chris Moon of JCPR at 973-850-7304 or cmoon@jcprinc.com.

About First Trust

First Trust Advisors L.P., along with its affiliate First Trust Portfolios L.P., are privately-held companies which provide a variety of investment services, including asset management and financial advisory services, with collective assets under management or supervision of approximately $86 billion as of January 31, 2014 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. First Trust is based in Wheaton, Illinois. For more information, visit http://www.ftportfolios.com.

You should consider the fund’s investment objectives, risks, and charges and expenses carefully before investing. Contact First Trust Portfolios L.P. at 1-800-621-1675 to obtain a prospectus or summary prospectus which contains this and other information about the fund. The prospectus or summary prospectus should be read carefully before investing.

ETF Characteristics

The fund lists and principally trades its shares on The NASDAQ Stock Market LLC.

The fund’s return may not match the return of the Dorsey Wright Focus Five Index. The fund may not be fully invested at times. The ETFs held by the fund will generally not be bought or sold in response to market fluctuations.

Investors buying or selling fund shares on the secondary market may incur customary brokerage commissions. Market prices may differ to some degree from the net asset value of the shares. Investors who sell fund shares may receive less than the share’s net asset value. Shares may be sold throughout the day on the exchange through any brokerage account. However, unlike mutual funds, shares may only be redeemed directly from the fund by authorized participants, in very large creation/redemption units.

Risks

The fund’s shares will change in value, and you could lose money by investing in the fund. One of the principal risks of investing in the fund is market risk. Market risk is the risk that a particular ETF owned by the fund, fund shares or stocks in general may fall in value.

The ETFs in which the fund invests are likely to be concentrated in a single industry or sector. An ETF concentrated in a single industry or sector presents more risks than a fund that is broadly diversified over several industries or sectors.

The ETFs in which the fund invests may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.

The ETFs in which the fund invests may invest in securities of non U.S. issuers, including U.S. dollar denominated securities of non U.S. issuers traded in the United States. Such securities are subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers. These risks may be heightened for securities of companies located in, or with significant operations in, emerging market countries.

The ETFs in which the fund invests may invest in depositary receipts, which may be less liquid than the underlying shares in their primary trading market.

The fund invests in securities of affiliated ETFs, which involves additional expenses that would not be present in a direct investment in such affiliated ETFs.

The fund is classified as “non-diversified.” A non-diversified fund generally may invest a larger percentage of its assets in the securities of a smaller number of issuers. As a result, the fund may be more susceptible to the risks associated with these particular issuers, or to a single economic, political or regulatory occurrence affecting these issuers.

The fund is not sponsored, endorsed, sold or promoted by Dorsey Wright. Dorsey Wright makes no representation or warranty, express or implied, to the owners of the fund or any member of the public regarding the advisability of trading in the fund. Dorsey Wright’s only relationship to First Trust is the licensing of certain trademarks and trade names of Dorsey Wright and of the index, which is determined, composed and calculated by Dorsey Wright without regard to First Trust or the fund.