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| First Trust Portfolios |
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| First Trust® portfolios are unit investment trusts that employ a “buy and hold”philosophy of investing.They invest in a fixed portfolio for a predetermined period of time, typically from 12 months to 5 years. Investors purchase units of a
portfolio, which represent an undivided ownership interest in the assets contained in the portfolio. First Trust® portfoliosenable investors to own a basket of securities with one single purchase, rather than trying to select individual stocks orbonds that meet their objectives. The portfolios are designed to fill a variety of investment needs and risk tolerance levels and may be appropriate for a variety of reasons such as tax control, liquidity, and diversification. |
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