Fund Description: First Trust MLP and Energy Fund is an exchange-traded closed-end fund or a closed-end ETF that is officially described as a non-diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The First Trust MLP and Energy Fund seeks a high level of total return with an emphasis on current distributions paid to common shareholders. FUND STRATEGY: Under normal market conditions, the Fund will invest at least 85% of its Managed Assets in equity and debt securities of MLPs, MLP-related entities and other energy sector and energy utilities companies that the Fund's Sub-Advisor believes offer opportunities for growth and income. Under normal market conditions, the Fund will invest at least 65% of its Managed Assets in equity securities issued by energy sector MLPs and energy sector and energy utilities MLP-related entities. The Fund considers investments in MLP-related entities to include investments that offer economic exposure to publicly traded and private MLPs, securities of entities holding primarily general partner or managing member interests in MLPs and securities that are derivatives of interests in MLPs. To generate additional income, the Fund currently expects to write (or sell) covered call options on up to 35% of its Managed Assets. FUND MANAGEMENT: First Trust Advisors L.P. serves as the Fund's investment adviser. Energy Income Partners, LLC will serve as the sub-adviser to the Fund