Fund Description: First Trust Europe 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 Europe AlphaDEX Fund seeks investment results that correspond generally to the price and yield before, fees and expenses, of an equity index called the NASDAQ AlphaDEX Europe Index, formerly the Defined Europe Index. INDEX DESCRIPTION: The NASDAQ AlphaDEX Europe Index is designed to select stocks from the NASDAQ Europe 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 Europe. 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 plus the amount of any borrowings for investment purposes in 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 intends to invest entirely in the Index, however there may also be instances in which the Fund may be overweighted in certain stocks in the Index, purchase securities not in the Index that are appropriate to substitute for certain securities in the Index or utilize various combinations of the above techniques in seeking to track the Index. The Fund may hold investments that are denominated in non-U.S. currencies. FUND MANAGEMENT: First Trust Advisors L.P. serves as the investment advisor to the Fund.