Fund Description: First Trust Dorsey Wright Momentum & Value ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the First Trust Exchange-Traded Fund, an open-end investment management company. INVESTMENT OBJECTIVE: The First Trust Dorsey Wright Momentum & Value ETF seeks investment results that correspond to the price and yield, before the Fund's fees and expenses, of the Dorsey Wright Momentum Plus Value Index. INDEX DESCRIPTION: The Dorsey Wright Momentum Plus Value Index FUND STRATEGY: FUND MANAGEMENT: First Trust Advisors L.P. serves as the investment adviser to the Fund.