Fund Description: First Trust Dynamic Europe Equity Income Fund is an exchange-traded closed-end fund (CEF) or a closed-end ETF that is officially described as a non-diversified, closed-end management investment company. <p> INVESTMENT OBJECTIVE: The First Trust Dynamic Europe Equity Income Fund seeks to provide a high level of current income with a secondary focus on capital appreciation. <p> FUND STRATEGY: The Fund will seek to achieve its investment objective by investing approximately 80% of its Managed Assets in a portfolio of equity securities of European companies of any market capitalization, including common and preferred stock that pay dividends, depositary receipts and real estate investment trusts (REITs). The Fund will utilize a dynamic currency hedging process, which will include, at the discretion of the advisers, the use of forward foreign currency exchange contracts to hedge a portion of the Fund's currency exposure. To generate additional income, the Fund currently expects to write (or sell) call options on portfolio equity securities and certain broad-based securities indices in an amount up to 40% of the value of its Managed Assets. The Fund may invest in sponsored or unsponsored American depositary receipt (ADRs) and securities of any credit quality, including securities that are rated below investment grade. The Fund invests in a range of sector, such as financials, health care, consumer staples, consumer discretionary, telecommunication services, industrials, utilities, materials and energy. <p> FUND MANAGEMENT: First Trust Advisors L.P. serves as the investment advisor to the Fund. Henderson Global Investors (North America) Inc. serves as the sub-adviser to the Fund