Fund Description: First Trust Nasdaq-100 Equal Weighted Index Fund is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the First Trust Exchange-Traded Fund, an open-end investment management company. INVESTMENT OBJECTIVE: The First Trust Nasdaq-100 Equal Weighted Index Fund seeks investment results that correspond generally to the price and yield, before fees and expenses, of the NASDAQ-100 Equal Weighted Index. INDEX DESCRIPTION: The NASDAQ-100 Equal Weighted Index is the equal-weighted version of the NASDAQ-100 Index which includes 100 of the largest non-financial securities listed on NASDAQ based on market capitalization. The Index contains the same securities as the NASDAQ-100 Index but each of the securities is initially set at a weight of 1.00% of the Index which is rebalanced quarterly. The Index includes the securities of mid cap companies. 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 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 the above 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.