Fund Description: First Trust S&P REIT Index Fund 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 S&P REIT Index Fund seeks investment results that correspond generally to the price and yield, before fees and expenses, of the S&P United States REIT Index, formerly the S&P REIT Composite Index. INDEX DESCRIPTION: The S&P United States REIT Index measures the investable U.S. real estate investment trust market and maintains a constituency that reflects the market’s overall composition. All securities added to the Index must meet certain liquidity and market capitalization requirements. The Standard & Poor’s Index Committee, a team of Standard & Poor’s economists and index analysts, maintains the Index. Maintenance includes implementation of daily corporate actions, quarterly updates of significant events, and annual portfolio reconstitution each September. Share adjustments that exceed 5% are made at the time of the change. Share adjustments of less than 5% are made on a quarterly basis. FUND STRATEGY: The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before expenses, the performance of the Index. In seeking to achieve the Fund's investment objective, the Fund generally will invest in all of the stocks comprising the Index in proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of those stocks in those weightings. In those circumstances, the Fund may purchase a sample of stocks in the Index. There may also be instances in which the advisor may choose to overweight certain stocks in the Index, purchase securities not in the Index which the advisor believes are appropriate to substitute for certain securities in the Index, use futures or other derivative instruments, or utilize various combinations of techniques in seeking to track the Index. The Fund may sell stocks that are represented in the Index in anticipation of their removal from the Index or purchase stocks not represented in the Index in anticipation of their addition to the Index. FUND MANAGEMENT: First Trust Advisors L.P. is the investment adviser for the Fund.