Fund Description: First Trust Dow 30 Equal Weight ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of First Trust Exchange-Traded Fund, an open-end investment management company. INVESTMENT OBJECTIVE: The First Trust Dow 30 Equal Weight ETF seeks investment results that correspond generally to the price and yield, before fees and expenses, of the Dow Jones Industrial Average Equal Weight Index. INDEX DESCRIPTION: The Dow Jones Industrial Average Equal Weight Index consists of an equally weighted portfolio of the 30 securities that comprise the Dow Jones Industrial Average (the DJIA). The 30 securities comprising the DJIA are domestic, blue-chip companies covering all industries, with the exception of transportation and utilities as of the date of this prospectus. While inclusion in the DJIA is not governed by quantitative rules, a stock is typically only added if the company has an excellent reputation, demonstrates sustained growth and is of interest to a large number of investors. The Index is rebalanced quarterly. FUND STRATEGY: The Fund will normally invest at least 90% of its net assets (including investment borrowings) in common stocks that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Fund is classified as “non-diversified. FUND MANAGEMENT: First Trust Advisors L.P. is the investment adviser for the Fund.