Fund Description: First Trust Emerging Markets Small Cap AlphaDEX Fund is an exchange-traded index fund or Index ETF which is a separate investment portfolio of First Trust Exchange-Traded AlphaDEX Fund II, an open-end investment management company. INVESTMENT OBJECTIVE: The First Trust Emerging Markets Small Cap AlphaDEX Fund seeks investment results that correspond generally to the price and yield before, fees and expenses, of the NASDAQ AlphaDEX Emerging Markets Small Cap Index, formerly the Defined Emerging Markets Small Cap Index. INDEX DESCRIPTION: The NASDAQ AlphaDEX Emerging Markets Small Cap Index is designed to select small cap stocks from the NASDAQ Emerging Markets Index (the Base Index) that may generate positive alpha, or risk-adjusted returns, relative to traditional indices through the use of the AlphaDEX selection methodology. Alpha is an indication of how much an investment outperforms or underperforms on a risk-adjusted basis relative to its benchmark. The Base Index, compiled by the Index Provider, is a comprehensive, rules-based index designed to measure stock market performance of companies in emerging markets. The Index is reconstituted and rebalanced on a semi-annual basis. FUND STRATEGY: The Fund will normally invest at least 90% of its net assets (including investment borrowings) in common stocks and/or depositary receipts 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 invests in securities issued by small cap companies operating in emerging markets. The Index Provider classifies a country as emerging based on a number of criteria, including national income per capita, national market capitalization and national trading volume. The Fund may hold investments that are denominated in non-U.S. currencies. The Fund invests significantly in companies operating in China and Taiwan. FUND MANAGEMENT: First Trust Advisors L.P. serves as the investment advisor to the Fund.