First Trust RiverFront Dynamic Asia Pacific ETF (RFAP)
Portfolio of Investments
January 31, 2021 (Unaudited)
| Shares | Description | Value | ||
| COMMON STOCKS (a) – 96.8% | ||||
| Australia – 21.6% | ||||
| 6,947 | ALS Ltd. (b) | $52,555 | ||
| 2,124 | ARB Corp., Ltd. (b) | 56,729 | ||
| 3,355 | Aristocrat Leisure Ltd. (b) | 79,037 | ||
| 1,274 | ASX Ltd. (b) | 69,614 | ||
| 19,877 | Aurizon Holdings Ltd. (b) | 56,067 | ||
| 6,601 | BHP Group Ltd. (b) | 220,137 | ||
| 11,712 | Brambles Ltd. (b) | 94,236 | ||
| 3,794 | Brickworks Ltd. (b) | 53,819 | ||
| 3,111 | carsales.com Ltd. (b) | 46,379 | ||
| 6,215 | Coca-Cola Amatil Ltd. (b) | 61,865 | ||
| 1,886 | Commonwealth Bank of Australia (b) | 119,745 | ||
| 936 | CSL Ltd. (b) | 194,053 | ||
| 13,023 | Evolution Mining Ltd. (b) | 46,511 | ||
| 7,332 | Fortescue Metals Group Ltd. (b) | 120,771 | ||
| 14,842 | Harvey Norman Holdings Ltd. (b) | 60,111 | ||
| 1,366 | JB Hi-Fi Ltd. (b) | 53,687 | ||
| 1,371 | Magellan Financial Group Ltd. (b) | 49,812 | ||
| 11,181 | Santos Ltd. (b) | 55,109 | ||
| 3,363 | Wesfarmers Ltd. (b) | 139,596 | ||
| 8,498 | Westpac Banking Corp. (b) | 136,233 | ||
| 2,556 | WiseTech Global Ltd. (b) | 60,563 | ||
| 1,826,629 | ||||
| Bermuda – 0.6% | ||||
| 23,625 | Kerry Logistics Network Ltd. (b) | 50,384 | ||
| Cayman Islands – 2.5% | ||||
| 6,142 | CK Hutchison Holdings Ltd. (b) | 42,386 | ||
| 39,800 | Xinyi Glass Holdings Ltd. (b) | 96,275 | ||
| 34,500 | Xinyi Solar Holdings Ltd. (b) | 75,486 | ||
| 214,147 | ||||
| Hong Kong – 7.7% | ||||
| 21,034 | AIA Group Ltd. (b) | 253,602 | ||
| 27,225 | BOC Hong Kong Holdings Ltd. (b) | 81,185 | ||
| 600 | Hong Kong Exchanges & Clearing Ltd. (b) | 38,359 | ||
| 12,750 | Power Assets Holdings Ltd. (b) | 67,660 | ||
| 23,250 | Swire Properties Ltd. (b) | 67,393 | ||
| 6,000 | Techtronic Industries Co., Ltd. (b) | 89,630 | ||
| 12,000 | Vitasoy International Holdings Ltd. (b) | 52,225 | ||
| 650,054 | ||||
| Japan – 57.6% | ||||
| 1,100 | Advantest Corp. (b) | 86,930 | ||
| 2,500 | Anritsu Corp. (b) | 61,597 | ||
| 6,800 | Astellas Pharma, Inc. (b) | 110,378 | ||
| 700 | Bandai Namco Holdings, Inc. (b) | 59,690 | ||
| 900 | Capcom Co., Ltd. (b) | 56,465 | ||
| Shares | Description | Value | ||
| Japan (Continued) | ||||
| 10,000 | Chiba Bank (The) Ltd. (b) | $54,391 | ||
| 2,500 | Chugai Pharmaceutical Co., Ltd. (b) | 130,823 | ||
| 2,700 | Chugoku Electric Power (The) Co., Inc. (b) | 33,293 | ||
| 2,300 | COMSYS Holdings Corp. (b) | 68,121 | ||
| 700 | Daifuku Co., Ltd. (b) | 79,889 | ||
| 700 | Daikin Industries Ltd. (b) | 147,793 | ||
| 2,900 | Daiwa House Industry Co., Ltd. (b) | 82,217 | ||
| 1,900 | Hitachi Construction Machinery Co., Ltd. (b) | 55,384 | ||
| 1,600 | Hitachi Transport System Ltd. (b) | 47,025 | ||
| 1,100 | Hoya Corp. (b) | 140,749 | ||
| 2,800 | Iida Group Holdings Co., Ltd. (b) | 61,767 | ||
| 5,300 | ITOCHU Corp. (b) | 151,787 | ||
| 3,700 | Japan Post Insurance Co., Ltd. (b) | 72,673 | ||
| 4,700 | Japan Tobacco, Inc. (b) | 93,362 | ||
| 1,700 | Kakaku.com, Inc. (b) | 49,236 | ||
| 1,700 | Kao Corp. (b) | 123,347 | ||
| 4,500 | KDDI Corp. (b) | 132,267 | ||
| 200 | Keyence Corp. (b) | 107,376 | ||
| 1,600 | M3, Inc. (b) | 134,679 | ||
| 1,600 | Makita Corp. (b) | 76,352 | ||
| 3,400 | Mitsubishi Estate Co., Ltd. (b) | 53,788 | ||
| 1,100 | NEC Corp. (b) | 59,850 | ||
| 1,700 | Nihon M&A Center, Inc. (b) | 98,445 | ||
| 125 | Nintendo Co., Ltd. (b) | 71,954 | ||
| 800 | Nippon Paint Holdings Co., Ltd. (b) | 71,940 | ||
| 1,100 | Nissan Chemical Corp. (b) | 62,655 | ||
| 2,500 | Nomura Research Institute Ltd. (b) | 84,211 | ||
| 3,500 | Obayashi Corp. (b) | 29,317 | ||
| 500 | Obic Co., Ltd. (b) | 93,552 | ||
| 6,500 | ORIX Corp. (b) | 104,298 | ||
| 1,600 | Otsuka Corp. (b) | 80,562 | ||
| 1,300 | Pigeon Corp. (b) | 58,493 | ||
| 3,600 | Recruit Holdings Co., Ltd. (b) | 156,591 | ||
| 7,800 | Renesas Electronics Corp. (b) (c) | 89,009 | ||
| 2,900 | SG Holdings Co., Ltd. (b) | 74,335 | ||
| 400 | Shimano, Inc. (b) | 93,789 | ||
| 900 | Shin-Etsu Chemical Co., Ltd. (b) | 156,671 | ||
| 4,700 | Shinsei Bank Ltd. (b) | 57,613 | ||
| 1,700 | Shionogi & Co., Ltd. (b) | 92,293 | ||
| 1,500 | SoftBank Group Corp. (b) | 116,209 | ||
| 2,600 | Sony Corp. (b) | 248,853 | ||
| 1,900 | Sumitomo Metal Mining Co., Ltd. (b) | 82,380 | ||
| 2,500 | Sumitomo Realty & Development Co., Ltd. (b) | 75,465 | ||
| 1,400 | Sundrug Co., Ltd. (b) | 55,544 | ||
First Trust RiverFront Dynamic Asia Pacific ETF (RFAP)
Portfolio of Investments (Continued)
January 31, 2021 (Unaudited)
| Shares | Description | Value | ||
| COMMON STOCKS (a) (Continued) | ||||
| Japan (Continued) | ||||
| 800 | Sysmex Corp. (b) | $93,330 | ||
| 1,985 | Toyota Motor Corp. (b) | 139,220 | ||
| 500 | Tsuruha Holdings, Inc. (b) | 66,395 | ||
| 1,400 | Welcia Holdings Co., Ltd. (b) | 47,430 | ||
| 12,500 | Z Holdings Corp. (b) | 77,654 | ||
| 2,300 | ZOZO, Inc. (b) | 64,407 | ||
| 4,873,844 | ||||
| Multinational – 0.8% | ||||
| 48,750 | HKT Trust & HKT Ltd. (b) | 64,164 | ||
| New Zealand – 0.7% | ||||
| 18,629 | Spark New Zealand Ltd. (b) | 63,960 | ||
| Singapore – 4.3% | ||||
| 32,400 | CapitaLand Ltd. (b) | 77,878 | ||
| 40,500 | Sheng Siong Group Ltd. (b) | 49,253 | ||
| 8,600 | Singapore Exchange Ltd. (b) | 63,890 | ||
| 12,500 | Singapore Technologies Engineering Ltd. (b) | 34,851 | ||
| 3,700 | Venture Corp Ltd. (b) | 54,989 | ||
| 21,200 | Wilmar International Ltd. (b) | 83,909 | ||
| 364,770 | ||||
| United Kingdom – 1.0% | ||||
| 3,227 | BHP Group PLC (b) | 88,437 | ||
| Total Common Stocks | 8,196,389 | |||
| (Cost $6,925,387) | ||||
| REAL ESTATE INVESTMENT TRUSTS (a) – 2.9% | ||||
| Australia – 2.5% | ||||
| 5,327 | Charter Hall Group (b) | 55,042 | ||
| 9,097 | Dexus (b) | 62,298 | ||
| 6,686 | Goodman Group (b) | 89,973 | ||
| 207,313 | ||||
| New Zealand – 0.4% | ||||
| 20,453 | Goodman Property Trust (b) | 33,039 | ||
| Total Real Estate Investment Trusts | 240,352 | |||
| (Cost $222,824) | ||||
| Total Investments – 99.7% | 8,436,741 | |||
| (Cost $7,148,211) (d) | ||||
| Net Other Assets and Liabilities – 0.3% | 27,929 | |||
| Net Assets – 100.0% | $8,464,670 | |||
| (a) | Portfolio securities are categorized based upon their country of incorporation. For a breakdown of the portfolio securities by sector, please see the Sector Allocation table. |
| (b) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940, as amended. At January 31, 2021, securities noted as such are valued at $8,436,741 or 99.7% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
| (c) | Non-income producing security. |
| (d) | Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of January 31, 2021, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $1,403,605 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $115,075. The net unrealized appreciation was $1,288,530. |
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of January 31, 2021 is as follows (see Valuation Inputs in the Additional Information section):
| Total Value at 1/31/2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
| Common Stocks* | $ 8,196,389 | $ — | $ 8,196,389 | $ — |
| Real Estate Investment Trusts* | 240,352 | — | 240,352 | — |
| Total Investments | $ 8,436,741 | $— | $ 8,436,741 | $— |
| * | See Portfolio of Investments for country breakout. |
| Currency Exposure Diversification | % of Total Investments |
| Japanese Yen | 57.8% |
| Australian Dollar | 24.1 |
| Hong Kong Dollar | 11.6 |
| Singapore Dollar | 4.3 |
| New Zealand Dollar | 1.2 |
| British Pound Sterling | 1.0 |
| Total | 100.0% |
First Trust RiverFront Dynamic Asia Pacific ETF (RFAP)
Portfolio of Investments (Continued)
January 31, 2021 (Unaudited)
| Sector Allocation | % of Total Investments |
| Industrials | 17.8% |
| Financials | 13.1 |
| Consumer Discretionary | 12.5 |
| Materials | 10.7 |
| Health Care | 10.6 |
| Information Technology | 10.1 |
| Consumer Staples | 8.2 |
| Communication Services | 8.0 |
| Real Estate | 7.1 |
| Utilities | 1.2 |
| Energy | 0.7 |
| Total | 100.0% |
First Trust RiverFront Dynamic Developed International ETF (RFDI)
Portfolio of Investments
January 31, 2021 (Unaudited)
| Shares | Description | Value | ||
| COMMON STOCKS (a) – 96.4% | ||||
| Australia – 6.9% | ||||
| 73,880 | ALS Ltd. (b) | $558,910 | ||
| 51,814 | Aristocrat Leisure Ltd. (b) | 1,220,626 | ||
| 68,384 | BHP Group Ltd. (b) | 2,280,537 | ||
| 8,366 | CSL Ltd. (b) | 1,734,452 | ||
| 125,811 | Fortescue Metals Group Ltd. (b) | 2,072,325 | ||
| 24,726 | JB Hi-Fi Ltd. (b) | 971,787 | ||
| 24,629 | Magellan Financial Group Ltd. (b) | 894,840 | ||
| 3,500 | Rio Tinto Ltd. (b) | 292,946 | ||
| 10,026,423 | ||||
| Austria – 0.8% | ||||
| 27,066 | EVN AG (b) | 632,393 | ||
| 6,664 | Verbund AG (b) | 600,643 | ||
| 1,233,036 | ||||
| Belgium – 0.4% | ||||
| 1,880 | Sofina S.A. (b) | 607,727 | ||
| Bermuda – 0.4% | ||||
| 261,146 | Kerry Logistics Network Ltd. (b) | 556,936 | ||
| Canada – 2.7% | ||||
| 10,620 | Canadian National Railway Co. | 1,075,662 | ||
| 29,484 | Dollarama, Inc. | 1,152,614 | ||
| 22,438 | Empire Co., Ltd., Class A | 619,929 | ||
| 26,522 | IGM Financial, Inc. | 702,898 | ||
| 19,475 | Quebecor, Inc., Class B | 466,029 | ||
| 4,017,132 | ||||
| Cayman Islands – 2.1% | ||||
| 40,998 | CK Hutchison Holdings Ltd. (b) | 282,928 | ||
| 533,830 | Xinyi Glass Holdings Ltd. (b) | 1,291,322 | ||
| 680,416 | Xinyi Solar Holdings Ltd. (b) | 1,488,752 | ||
| 3,063,002 | ||||
| Denmark – 2.9% | ||||
| 2,669 | Genmab A.S. (b) (c) | 1,062,648 | ||
| 33,079 | Novo Nordisk A.S., Class B (b) | 2,304,555 | ||
| 14,307 | Novozymes A.S., Class B (b) | 858,685 | ||
| 4,225,888 | ||||
| Finland – 2.9% | ||||
| 24,664 | Kesko OYJ, Class B (b) | 640,441 | ||
| 15,987 | Kone OYJ, Class B (b) | 1,257,300 | ||
| 18,071 | Neste OYJ (b) | 1,272,932 | ||
| 61,024 | Stora Enso OYJ, Class R (b) | 1,107,443 | ||
| 4,278,116 | ||||
| France – 3.6% | ||||
| 53,611 | Credit Agricole S.A. (b) (c) | 606,775 | ||
| 5,499 | Danone S.A. (b) | 365,676 | ||
| 1,074 | Hermes International (b) | 1,095,842 | ||
| 5,709 | Iliad S.A. (b) | 1,055,779 | ||
| 1,592 | Kering S.A. (b) | 1,044,883 | ||
| Shares | Description | Value | ||
| France (Continued) | ||||
| 13,068 | Worldline S.A. (b) (c) (d) (e) | $1,104,638 | ||
| 5,273,593 | ||||
| Germany – 5.2% | ||||
| 3,143 | adidas AG (b) (c) | 996,579 | ||
| 18,471 | HeidelbergCement AG (b) | 1,365,362 | ||
| 11,397 | SAP SE (b) | 1,446,143 | ||
| 14,435 | Siemens AG (b) | 2,236,562 | ||
| 19,998 | TAG Immobilien AG (b) | 614,074 | ||
| 34,634 | TLG Immobilien AG (b) | 965,016 | ||
| 7,623,736 | ||||
| Hong Kong – 1.0% | ||||
| 116,204 | AIA Group Ltd. (b) | 1,401,043 | ||
| Ireland – 1.1% | ||||
| 15,872 | CRH PLC (b) | 655,088 | ||
| 13,662 | Kingspan Group PLC (c) | 928,453 | ||
| 1,583,541 | ||||
| Israel – 0.8% | ||||
| 9,421 | Check Point Software Technologies Ltd. (c) | 1,203,439 | ||
| Italy – 1.7% | ||||
| 228,067 | A2A S.p.A. (b) | 369,830 | ||
| 19,635 | Recordati Industria Chimica e Farmaceutica S.p.A. (b) | 1,016,096 | ||
| 213,029 | Snam S.p.A. (b) | 1,117,062 | ||
| 2,502,988 | ||||
| Japan – 14.8% | ||||
| 24,500 | Anritsu Corp. (b) | 603,648 | ||
| 20,400 | Capcom Co., Ltd. (b) | 1,279,883 | ||
| 35,500 | Chugai Pharmaceutical Co., Ltd. (b) | 1,857,684 | ||
| 2,200 | Hoya Corp. (b) | 281,499 | ||
| 7,700 | IR Japan Holdings Ltd. (b) | 1,286,349 | ||
| 56,300 | ITOCHU Corp. (b) | 1,612,375 | ||
| 21,200 | Kao Corp. (b) | 1,538,204 | ||
| 19,900 | NEC Corp. (b) | 1,082,735 | ||
| 20,600 | Nihon M&A Center, Inc. (b) | 1,192,923 | ||
| 2,100 | Nintendo Co., Ltd. (b) | 1,208,834 | ||
| 18,300 | Nissan Chemical Corp. (b) | 1,042,350 | ||
| 31,300 | Nomura Research Institute Ltd. (b) | 1,054,322 | ||
| 23,600 | Obayashi Corp. (b) | 197,679 | ||
| 19,500 | Pan Pacific International Holdings Corp. (b) | 437,888 | ||
| 47,400 | Recruit Holdings Co., Ltd. (b) | 2,061,778 | ||
| 25,200 | Sony Corp. (b) | 2,411,959 | ||
| 14,900 | Sumitomo Realty & Development Co., Ltd. (b) | 449,769 | ||
| 5,600 | Tokyo Electron Ltd. (b) | 2,129,416 | ||
| 21,729,295 | ||||
First Trust RiverFront Dynamic Developed International ETF (RFDI)
Portfolio of Investments (Continued)
January 31, 2021 (Unaudited)
| Shares | Description | Value | ||
| COMMON STOCKS (a) (Continued) | ||||
| Jersey – 1.1% | ||||
| 837,100 | Man Group PLC (b) | $1,671,118 | ||
| Luxembourg – 1.6% | ||||
| 145,073 | B&M European Value Retail S.A. (b) | 1,060,409 | ||
| 12,746 | Eurofins Scientific SE (b) (c) | 1,223,448 | ||
| 2,283,857 | ||||
| Multinational – 0.4% | ||||
| 387,928 | HKT Trust & HKT Ltd. (b) | 510,582 | ||
| Netherlands – 5.4% | ||||
| 739 | Adyen N.V. (b) (c) (d) (e) | 1,543,790 | ||
| 6,898 | ASML Holding N.V. (b) | 3,682,525 | ||
| 115,066 | CNH Industrial N.V. (c) | 1,467,092 | ||
| 2,579 | Ferrari N.V. (b) | 536,662 | ||
| 7,804 | Wolters Kluwer N.V. (b) | 648,437 | ||
| 7,878,506 | ||||
| New Zealand – 1.6% | ||||
| 50,532 | �� | Fisher & Paykel Healthcare Corp., Ltd. (b) | 1,252,368 | |
| 335,922 | Spark New Zealand Ltd. (b) | 1,153,339 | ||
| 2,405,707 | ||||
| Singapore – 1.0% | ||||
| 260,500 | Sheng Siong Group Ltd. (b) | 316,798 | ||
| 129,700 | Singapore Exchange Ltd. (b) | 963,545 | ||
| 16,300 | Venture Corp Ltd. (b) | 242,251 | ||
| 1,522,594 | ||||
| Spain – 1.5% | ||||
| 41,785 | EDP Renovaveis S.A. (b) | 1,144,324 | ||
| 55,398 | Red Electrica Corp. S.A. (b) | 1,051,891 | ||
| 2,196,215 | ||||
| Sweden – 7.7% | ||||
| 18,856 | Atlas Copco AB, Class A (b) | 1,023,001 | ||
| 17,465 | Atlas Copco AB, Class B (b) | 817,711 | ||
| 70,566 | Epiroc AB, Class A (b) | 1,351,967 | ||
| 52,773 | Indutrade AB (b) (f) | 1,081,557 | ||
| 17,311 | Investor AB, Class A (b) | 1,267,971 | ||
| 25,384 | Investor AB, Class B (b) | 1,861,900 | ||
| 25,671 | Kinnevik AB, Class B (b) | 1,259,405 | ||
| 20,121 | Lifco AB, Class B (b) | 1,847,084 | ||
| 37,608 | Swedish Orphan Biovitrum AB (b) (c) | 710,090 | ||
| 11,220,686 | ||||
| Switzerland – 13.5% | ||||
| 13,857 | Coca-Cola HBC AG (b) | 409,095 | ||
| 56,187 | Credit Suisse Group AG (b) | 737,037 | ||
| 1,249 | EMS-Chemie Holding AG (b) | 1,178,057 | ||
| 6,261 | Kuehne + Nagel International AG (b) | 1,424,728 | ||
| 16,546 | Logitech International S.A. (b) | 1,718,444 | ||
| Shares | Description | Value | ||
| Switzerland (Continued) | ||||
| 30,764 | Nestle S.A. (b) | $3,448,539 | ||
| 31,554 | Novartis AG (b) | 2,857,063 | ||
| 2,171 | Partners Group Holding AG (b) | 2,563,499 | ||
| 10,513 | Roche Holding AG (b) | 3,628,163 | ||
| 3,369 | Roche Holding AG (b) | 1,186,987 | ||
| 38,442 | UBS Group AG (b) | 554,097 | ||
| 19,705,709 | ||||
| United Kingdom – 15.3% | ||||
| 32,195 | Admiral Group PLC (b) | 1,268,832 | ||
| 19,031 | Ashtead Group PLC (b) | 955,107 | ||
| 5,176 | ASOS PLC (b) (c) | 316,253 | ||
| 3,001 | AstraZeneca PLC (b) | 306,136 | ||
| 136,937 | Auto Trader Group PLC (b) (c) (d) (e) | 1,055,725 | ||
| 317,498 | Aviva PLC (b) | 1,452,263 | ||
| 173,385 | Balfour Beatty PLC (b) (c) | 638,461 | ||
| 20,878 | BHP Group PLC (b) | 572,169 | ||
| 20,900 | Compass Group PLC (b) (c) | 373,332 | ||
| 12,844 | Croda International PLC (b) | 1,103,539 | ||
| 68,840 | Evraz PLC (b) | 470,688 | ||
| 486,343 | G4S PLC (b) (c) | 1,726,184 | ||
| 5,755 | Games Workshop Group PLC (b) | 812,089 | ||
| 48,224 | GlaxoSmithKline PLC (b) | 895,583 | ||
| 13,416 | Intertek Group PLC (b) | 1,010,402 | ||
| 61,140 | JD Sports Fashion PLC (b) (c) | 622,375 | ||
| 52,157 | KAZ Minerals PLC (b) | 515,859 | ||
| 25,812 | Mondi PLC (b) | 607,870 | ||
| 46,499 | RELX PLC (b) | 1,151,245 | ||
| 62,704 | Rightmove PLC (b) (c) | 513,282 | ||
| 27,852 | Rio Tinto PLC (b) | 2,113,051 | ||
| 64,483 | Sage Group (The) PLC (b) | 519,219 | ||
| 167,209 | Spirent Communications PLC (b) | 544,197 | ||
| 62,677 | Tate & Lyle PLC (b) | 590,331 | ||
| 28,623 | Unilever PLC (b) | 1,667,438 | ||
| 242,754 | Wm Morrison Supermarkets PLC (b) | 595,329 | ||
| 22,396,959 | ||||
| Total Common Stocks | 141,117,828 | |||
| (Cost $115,577,720) | ||||
| REAL ESTATE INVESTMENT TRUSTS (a) – 2.4% | ||||
| Australia – 0.9% | ||||
| 99,338 | Goodman Group (b) | 1,336,789 | ||
| Belgium – 0.8% | ||||
| 31,660 | Warehouses De Pauw CVA (b) | 1,136,767 | ||
First Trust RiverFront Dynamic Developed International ETF (RFDI)
Portfolio of Investments (Continued)
January 31, 2021 (Unaudited)
| Shares | Description | Value | ||
| REAL ESTATE INVESTMENT TRUSTS (a) (Continued) | ||||
| United Kingdom – 0.7% | ||||
| 89,912 | Safestore Holdings PLC (b) | $995,523 | ||
| Total Real Estate Investment Trusts | 3,469,079 | |||
| (Cost $3,040,850) | ||||
| Total Investments – 98.8% | 144,586,907 | |||
| (Cost $118,618,570) (g) | ||||
| Net Other Assets and Liabilities – 1.2% | 1,809,123 | |||
| Net Assets – 100.0% | $146,396,030 | |||
| (a) | Portfolio securities are categorized based upon their country of incorporation. For a breakdown of the portfolio securities by sector, please see the Sector Allocation table. |
| (b) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940, as amended. At January 31, 2021, securities noted as such are valued at $136,970,791 or 93.6% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
| (c) | Non-income producing security. |
| (d) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933, as amended (the “1933 Act”). |
| (e) | This security is exempt from registration upon resale under Rule 144A of the 1933 Act and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities. |
| (f) | Non-income producing security which makes payment-in-kind (“PIK”) distributions. For the fiscal year-to-date period (November 1, 2020 through January 31, 2021), the Fund received 35,182 PIK shares of Indutrade AB. |
| (g) | Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of January 31, 2021, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $27,501,976 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $1,533,639. The net unrealized appreciation was $25,968,337. |
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of January 31, 2021 is as follows (see Valuation Inputs in the Additional Information section):
| Total Value at 1/31/2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
| Common Stocks: | ||||
| Canada | $ 4,017,132 | $ 4,017,132 | $ — | $ — |
| Ireland | 1,583,541 | 928,453 | 655,088 | — |
| Israel | 1,203,439 | 1,203,439 | — | — |
| Netherlands | 7,878,506 | 1,467,092 | 6,411,414 | — |
| Other Country Categories* | 126,435,210 | — | 126,435,210 | — |
| Real Estate Investment Trusts* | 3,469,079 | — | 3,469,079 | — |
| Total Investments | $ 144,586,907 | $ 7,616,116 | $ 136,970,791 | $— |
| * | See Portfolio of Investments for country breakout. |
| Currency Exposure Diversification | % of Total Investments |
| Euro | 23.1% |
| British Pound Sterling | 18.8 |
| Japanese Yen | 15.0 |
| Swiss Franc | 13.3 |
| Australian Dollar | 7.9 |
| Swedish Krona | 7.8 |
| Hong Kong Dollar | 3.8 |
| Danish Krone | 2.9 |
| Canadian Dollar | 2.8 |
| United States Dollar | 1.8 |
| New Zealand Dollar | 1.7 |
| Singapore Dollar | 1.1 |
| Total | 100.0% |
First Trust RiverFront Dynamic Developed International ETF (RFDI)
Portfolio of Investments (Continued)
January 31, 2021 (Unaudited)
| Sector Allocation | % of Total Investments |
| Industrials | 20.5% |
| Health Care | 14.1 |
| Information Technology | 12.7 |
| Financials | 12.3 |
| Materials | 11.2 |
| Consumer Discretionary | 9.0 |
| Consumer Staples | 7.1 |
| Communication Services | 5.0 |
| Real Estate | 3.8 |
| Utilities | 3.4 |
| Energy | 0.9 |
| Total | 100.0% |
First Trust RiverFront Dynamic Europe ETF (RFEU)
Portfolio of Investments
January 31, 2021 (Unaudited)
| Shares | Description | Value | ||
| COMMON STOCKS (a) – 96.5% | ||||
| Australia – 0.8% | ||||
| 1,618 | Rio Tinto Ltd. (b) | $135,425 | ||
| Austria – 0.7% | ||||
| 1,199 | Verbund AG (b) | 108,069 | ||
| Belgium – 0.6% | ||||
| 270 | Sofina S.A. (b) | 87,280 | ||
| Denmark – 4.5% | ||||
| 424 | Genmab A.S. (b) (c) | 168,813 | ||
| 4,515 | Novo Nordisk A.S., Class B (b) | 314,552 | ||
| 2,118 | Novozymes A.S., Class B (b) | 127,119 | ||
| 1,289 | Pandora A.S. (b) | 124,036 | ||
| 734,520 | ||||
| Finland – 4.7% | ||||
| 6,087 | Fortum OYJ (b) | 147,232 | ||
| 1,880 | Kone OYJ, Class B (b) | 147,853 | ||
| 2,618 | Neste OYJ (b) | 184,413 | ||
| 7,066 | Stora Enso OYJ, Class R (b) | 128,231 | ||
| 4,450 | UPM-Kymmene OYJ (b) | 159,008 | ||
| 766,737 | ||||
| France – 9.7% | ||||
| 868 | Arkema S.A. (b) | 96,053 | ||
| 167 | Hermes International (b) | 170,396 | ||
| 426 | Iliad S.A. (b) | 78,781 | ||
| 298 | Kering S.A. (b) | 195,587 | ||
| 387 | LVMH Moet Hennessy Louis Vuitton SE (b) | 233,978 | ||
| 41,078 | Natixis S.A. (b) (c) | 154,628 | ||
| 12,002 | Orange S.A. (b) | 140,861 | ||
| 860 | Sanofi (b) | 80,882 | ||
| 330 | Sartorius Stedim Biotech | 138,163 | ||
| 821 | Schneider Electric SE (b) | 120,162 | ||
| 389 | Teleperformance (b) | 127,235 | ||
| 373 | Worldline S.A. (b) (c) (d) (e) | 31,530 | ||
| 1,568,256 | ||||
| Germany – 9.3% | ||||
| 12,568 | Commerzbank AG (b) (c) | 83,036 | ||
| 3,983 | Deutsche Post AG (b) | 196,741 | ||
| 1,972 | HeidelbergCement AG (b) | 145,769 | ||
| 1,428 | Henkel AG & Co., KGaA (b) | 133,525 | ||
| 1,470 | Henkel AG & Co., KGaA (Preference Shares) (b) | 152,250 | ||
| 1,297 | Puma SE (b) (c) | 126,916 | ||
| 844 | SAP SE (b) | 107,094 | ||
| 1,495 | Siemens AG (b) | 231,636 | ||
| 553 | Symrise AG (b) | 68,817 | ||
| 3,110 | TAG Immobilien AG (b) | 95,498 | ||
| 6,106 | TLG Immobilien AG (b) | 170,133 | ||
| 1,511,415 | ||||
| Ireland – 0.6% | ||||
| 1,483 | Kingspan Group PLC (c) | 100,783 | ||
| Shares | Description | Value | ||
| Israel – 0.5% | ||||
| 4,463 | Plus500 Ltd. (b) | $81,880 | ||
| Italy – 1.2% | ||||
| 41,153 | A2A S.p.A. (b) | 66,733 | ||
| 2,142 | Moncler S.p.A. (b) (c) | 120,706 | ||
| 187,439 | ||||
| Jersey – 2.0% | ||||
| 4,626 | Experian PLC (b) | 161,691 | ||
| 1,429 | Ferguson PLC (b) | 165,919 | ||
| 327,610 | ||||
| Luxembourg – 1.3% | ||||
| 883 | Eurofins Scientific SE (b) (c) | 84,757 | ||
| 2,153 | RTL Group S.A. (b) (c) | 123,151 | ||
| 207,908 | ||||
| Netherlands – 8.9% | ||||
| 90 | Adyen N.V. (b) (c) (d) (e) | 188,012 | ||
| 1,114 | ASML Holding N.V. (b) | 594,713 | ||
| 2,855 | ASR Nederland N.V. (b) | 110,672 | ||
| 1,402 | BE Semiconductor Industries N.V. (b) | 96,393 | ||
| 788 | Euronext N.V. (b) (d) (e) | 84,865 | ||
| 230 | Ferrari N.V. (b) | 47,860 | ||
| 6,181 | Koninklijke Ahold Delhaize N.V. (b) | 177,423 | ||
| 1,418 | Randstad N.V. (b) (c) | 88,594 | ||
| 681 | Wolters Kluwer N.V. (b) | 56,585 | ||
| 1,445,117 | ||||
| Spain – 2.1% | ||||
| 69,544 | CaixaBank S.A. (b) | 175,494 | ||
| 5,706 | Industria de Diseno Textil S.A. (b) | 169,230 | ||
| 344,724 | ||||
| Sweden – 11.7% | ||||
| 4,103 | Alfa Laval AB (b) (c) | 107,526 | ||
| 5,387 | Assa Abloy AB, Class B (b) | 133,230 | ||
| 3,516 | Atlas Copco AB, Class A (b) | 190,755 | ||
| 3,394 | Atlas Copco AB, Class B (b) | 158,907 | ||
| 5,685 | Epiroc AB, Class A (b) | 108,918 | ||
| 1,923 | Hexagon AB, Class B (b) | 167,582 | ||
| 5,650 | Indutrade AB (b) (f) | 115,794 | ||
| 2,271 | Investor AB, Class A (b) | 166,343 | ||
| 3,005 | Investor AB, Class B (b) | 220,415 | ||
| 2,439 | Kinnevik AB, Class B (b) | 119,656 | ||
| 1,274 | Lifco AB, Class B (b) | 116,952 | ||
| 3,850 | Volvo AB, Class A (b) (c) | 95,224 | ||
| 7,793 | Volvo AB, Class B (b) (c) | 192,009 | ||
| 1,893,311 | ||||
| Switzerland – 17.7% | ||||
| 278 | Geberit AG (b) | 170,155 | ||
First Trust RiverFront Dynamic Europe ETF (RFEU)
Portfolio of Investments (Continued)
January 31, 2021 (Unaudited)
| Shares | Description | Value | ||
| COMMON STOCKS (a) (Continued) | ||||
| Switzerland (Continued) | ||||
| 620 | Kuehne + Nagel International AG (b) | $141,085 | ||
| 1,538 | Logitech International S.A. (b) | 159,734 | ||
| 4,971 | Nestle S.A. (b) | 557,232 | ||
| 4,119 | Novartis AG (b) | 372,956 | ||
| 148 | Partners Group Holding AG (b) | 174,757 | ||
| 1,594 | Roche Holding AG (b) | 550,109 | ||
| 334 | Roche Holding AG (b) | 117,677 | ||
| 283 | Schindler Holding AG (b) | 74,445 | ||
| 52 | SGS S.A. (b) | 157,716 | ||
| 673 | Sika AG (b) | 183,131 | ||
| 514 | Sonova Holding AG (b) (f) | 123,997 | ||
| 607 | Temenos AG (b) | 76,647 | ||
| 2,859,641 | ||||
| United Kingdom – 20.2% | ||||
| 3,601 | Ashtead Group PLC (b) | 180,723 | ||
| 881 | AstraZeneca PLC (b) | 89,872 | ||
| 8,119 | Barratt Developments PLC (b) (c) | 70,708 | ||
| 10,387 | Compass Group PLC (b) (c) | 185,541 | ||
| 7,232 | Diageo PLC (b) | 290,344 | ||
| 3,064 | Diploma PLC (b) | 96,818 | ||
| 4,280 | Dunelm Group PLC (b) (c) | 67,480 | ||
| 12,424 | Evraz PLC (b) | 84,948 | ||
| 2,922 | Fevertree Drinks PLC | 97,727 | ||
| 32,151 | G4S PLC (b) (c) | 114,114 | ||
| 15,877 | GlaxoSmithKline PLC (b) | 294,857 | ||
| 3,780 | Hargreaves Lansdown PLC (b) | 88,068 | ||
| 2,853 | Hikma Pharmaceuticals PLC (b) | 93,691 | ||
| 5,733 | IMI PLC (b) | 97,568 | ||
| 1,680 | Intertek Group PLC (b) | 126,526 | ||
| 52,040 | Melrose Industries PLC (b) (c) | 119,022 | ||
| 3,643 | Mondi PLC (b) | 85,792 | ||
| 8,473 | RELX PLC (b) | 209,779 | ||
| 3,773 | Rio Tinto PLC (b) | 286,247 | ||
| 12,680 | RSA Insurance Group PLC (b) | 116,897 | ||
| 55,426 | Serco Group PLC (b) (c) | 88,540 | ||
| 22,907 | Spirent Communications PLC (b) | 74,553 | ||
| 4,638 | Unilever PLC | 269,602 | ||
| 11,244 | William Hill PLC (b) (c) | 41,550 | ||
| 3,270,967 | ||||
| Total Common Stocks | 15,631,082 | |||
| (Cost $12,709,808) | ||||
| EXCHANGE-TRADED FUNDS (a) – 0.9% | ||||
| United States – 0.9% | ||||
| 2,850 | iShares Core MSCI Europe ETF | 144,752 | ||
| (Cost $150,822) | ||||
| Shares | Description | Value | ||
| REAL ESTATE INVESTMENT TRUSTS (a) – 0.6% | ||||
| Belgium – 0.6% | ||||
| 2,758 | Warehouses De Pauw CVA (b) | $99,027 | ||
| (Cost $72,951) | ||||
| Total Investments – 98.0% | 15,874,861 | |||
| (Cost $12,933,581) (g) | ||||
| Net Other Assets and Liabilities – 2.0% | 328,455 | |||
| Net Assets – 100.0% | $16,203,316 | |||
| (a) | Portfolio securities are categorized based upon their country of incorporation. For a breakdown of the portfolio securities by sector, please see the Sector Allocation table. |
| (b) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940, as amended. At January 31, 2021, securities noted as such are valued at $15,123,834 or 93.3% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
| (c) | Non-income producing security. |
| (d) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933, as amended (the “1933 Act”). |
| (e) | This security is exempt from registration upon resale under Rule 144A of the 1933 Act and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities. |
| (f) | Non-income producing security which makes payment-in-kind (“PIK”) distributions. For the fiscal year-to-date period (November 1, 2020 through January 31, 2021), the Fund received 4,520 PIK shares of Indutrade AB. There were no in-kind distributions received for Sonova Holding AB. |
| (g) | Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of January 31, 2021, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $3,074,374 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $133,094. The net unrealized appreciation was $2,941,280. |
First Trust RiverFront Dynamic Europe ETF (RFEU)
Portfolio of Investments (Continued)
January 31, 2021 (Unaudited)
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of January 31, 2021 is as follows (see Valuation Inputs in the Additional Information section):
| Total Value at 1/31/2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
| Common Stocks: | ||||
| France | $ 1,568,256 | $ 138,163 | $ 1,430,093 | $ — |
| Ireland | 100,783 | 100,783 | — | — |
| United Kingdom | 3,270,967 | 367,329 | 2,903,638 | — |
| Other Country Categories* | 10,691,076 | — | 10,691,076 | — |
| Exchange-Traded Funds* | 144,752 | 144,752 | — | — |
| Real Estate Investment Trusts* | 99,027 | — | 99,027 | — |
| Total Investments | $ 15,874,861 | $ 751,027 | $ 15,123,834 | $— |
| * | See Portfolio of Investments for country breakout. |
| Currency Exposure Diversification | % of Total Investments |
| Euro | 42.2% |
| British Pound Sterling | 21.5 |
| Swiss Franc | 18.0 |
| Swedish Krona | 11.9 |
| Danish Krone | 4.6 |
| United States Dollar | 0.9 |
| Australian Dollar | 0.9 |
| Total | 100.0% |
| Sector Allocation | % of Total Investments |
| Industrials | 26.4% |
| Health Care | 15.3 |
| Consumer Staples | 10.6 |
| Financials | 10.5 |
| Consumer Discretionary | 9.8 |
| Materials | 9.4 |
| Information Technology | 9.4 |
| Real Estate | 2.3 |
| Communication Services | 2.2 |
| Utilities | 2.0 |
| Energy | 1.2 |
| Other** | 0.9 |
| Total | 100.0% |
| ** | Exchange-traded fund with holdings representing multiple sectors. |
First Trust RiverFront Dynamic Emerging Markets ETF (RFEM)
Portfolio of Investments
January 31, 2021 (Unaudited)
| Shares | Description | Value | ||
| COMMON STOCKS (a) – 99.2% | ||||
| Argentina – 0.5% | ||||
| 31,614 | Grupo Financiero Galicia S.A., ADR | $235,840 | ||
| Bermuda – 1.9% | ||||
| 111,368 | China Gas Holdings Ltd. (b) | 391,956 | ||
| 2,433,060 | Gemdale Properties & Investment Corp., Ltd. (b) | 343,893 | ||
| 119,405 | Hopson Development Holdings Ltd. (b) | 304,724 | ||
| 1,040,573 | ||||
| Brazil – 6.3% | ||||
| 29,716 | Centrais Eletricas Brasileiras S.A. | 155,820 | ||
| 29,584 | Centrais Eletricas Brasileiras S.A., ADR | 152,949 | ||
| 27,148 | Centrais Eletricas Brasileiras S.A., Class B (Preference Shares) | 142,602 | ||
| 88,606 | Cia Siderurgica Nacional S.A., ADR | 488,219 | ||
| 55,274 | CPFL Energia S.A. | 314,284 | ||
| 85,927 | Equatorial Energia S.A. | 353,671 | ||
| 44,164 | Itau Unibanco Holding S.A., ADR | 230,536 | ||
| 93,896 | Magazine Luiza S.A. | 433,665 | ||
| 141,053 | Metalurgica Gerdau S.A. (Preference Shares) | 272,753 | ||
| 40,298 | Petroleo Brasileiro S.A., ADR | 404,995 | ||
| 69,133 | TIM S.A. | 168,050 | ||
| 16,670 | Vale S.A. | 267,962 | ||
| 3,385,506 | ||||
| Cayman Islands – 31.3% | ||||
| 14,815 | Alibaba Group Holding Ltd., ADR (c) | 3,760,491 | ||
| 293,294 | Asia Cement China Holdings Corp. (b) | 251,832 | ||
| 4,795 | Autohome, Inc., ADR | 528,553 | ||
| 61,180 | China Conch Venture Holdings Ltd. (b) | 290,895 | ||
| 369,614 | China Resources Cement Holdings Ltd. (b) | 407,431 | ||
| 300,530 | Country Garden Holdings Co., Ltd. (b) | 360,981 | ||
| 34,558 | ENN Energy Holdings Ltd. (b) | 532,968 | ||
| 10,741 | JD.com, Inc., ADR (c) | 952,619 | ||
| 202,976 | Logan Group Co., Ltd. (b) | 302,960 | ||
| 64,500 | Longfor Group Holdings Ltd. (b) (d) (e) | 363,230 | ||
| 16,612 | Meituan, Class B (b) (c) (d) | 765,969 | ||
| 11,544 | Momo, Inc., ADR | 176,392 | ||
| 7,203 | NetEase, Inc., ADR | 828,273 | ||
| 479,648 | Seazen Group Ltd. (b) | 439,244 | ||
| Shares | Description | Value | ||
| Cayman Islands (Continued) | ||||
| 25,600 | Shenzhou International Group Holdings Ltd. (b) | $499,239 | ||
| 103,092 | Sunac China Holdings Ltd. (b) | 383,025 | ||
| 3,316 | Sunac Services Holdings Ltd. (c) (d) (e) | 9,324 | ||
| 30,542 | Sunny Optical Technology Group Co., Ltd. (b) | 797,878 | ||
| 43,274 | Tencent Holdings Ltd. (b) | 3,855,857 | ||
| 17,648 | Vipshop Holdings Ltd., ADR (c) | 483,908 | ||
| 7,058 | Weibo Corp., ADR (c) | 321,704 | ||
| 420,607 | Yuzhou Group Holdings Co., Ltd. (b) | 146,490 | ||
| 63,788 | Zhongsheng Group Holdings Ltd. (b) | 373,568 | ||
| 16,832,831 | ||||
| China – 6.0% | ||||
| 63,052 | Anhui Conch Cement Co., Ltd., Class H (b) | 372,501 | ||
| 1,150,136 | China Construction Bank Corp., Class H (b) | 871,135 | ||
| 62,078 | China Life Insurance Co., Ltd., Class H (b) | 131,839 | ||
| 35,818 | China Vanke Co., Ltd., Class H (b) | 128,152 | ||
| 146,116 | Guangzhou R&F Properties Co., Ltd., Class H (b) | 179,720 | ||
| 80,550 | Ping An Insurance Group Co. of China Ltd., Class H (b) | 948,701 | ||
| 54,330 | Shanghai Baosight Software Co., Ltd., Class B (b) | 229,982 | ||
| 125,734 | Weichai Power Co., Ltd., Class H (b) | 370,832 | ||
| 3,232,862 | ||||
| Colombia – 0.4% | ||||
| 390,724 | Ecopetrol S.A. | 222,238 | ||
| Cyprus – 1.0% | ||||
| 12,734 | TCS Group Holding PLC, GDR (b) (d) | 525,215 | ||
| Hong Kong – 2.8% | ||||
| 362,140 | CSPC Pharmaceutical Group Ltd. (b) | 368,151 | ||
| 600,000 | Lenovo Group Ltd. (b) | 698,366 | ||
| 140,098 | Sinotruk Hong Kong Ltd. (b) | 436,497 | ||
| 1,503,014 | ||||
| India – 13.9% | ||||
| 14,379 | Asian Paints Ltd. (b) | 473,766 | ||
| 31,748 | Aurobindo Pharma Ltd. (b) | 392,587 | ||
| 7,357 | Britannia Industries Ltd. (b) | 352,258 | ||
| 53,964 | Dabur India Ltd. (b) | 379,948 | ||
| 9,074 | Divi’s Laboratories Ltd. (b) | 417,990 | ||
| 37,693 | HCL Technologies Ltd. (b) | 470,889 | ||
First Trust RiverFront Dynamic Emerging Markets ETF (RFEM)
Portfolio of Investments (Continued)
January 31, 2021 (Unaudited)
| Shares | Description | Value | ||
| COMMON STOCKS (a) (Continued) | ||||
| India (Continued) | ||||
| 6,354 | HDFC Asset Management Co., Ltd. (b) (d) (e) | $250,113 | ||
| 13,786 | Hindustan Unilever Ltd. (b) | 426,816 | ||
| 42,648 | IndusInd Bank Ltd. (b) (c) | 493,754 | ||
| 56,431 | Infosys Ltd. (b) | 956,206 | ||
| 23,073 | Infosys Ltd., ADR | 389,472 | ||
| 3,732 | Jubilant Foodworks Ltd. (b) | 132,228 | ||
| 18,181 | Pidilite Industries Ltd. (b) | 415,932 | ||
| 6,213 | Reliance Industries Ltd. (b) | 156,356 | ||
| 41,752 | Sun TV Network Ltd. (b) | 272,527 | ||
| 19,492 | Tata Consultancy Services Ltd. (b) | 829,320 | ||
| 25,209 | UPL Ltd. (b) | 193,551 | ||
| 85,346 | Wipro Ltd. (b) | 488,809 | ||
| 7,492,522 | ||||
| Indonesia – 0.7% | ||||
| 547,196 | Indofood CBP Sukses Makmur Tbk PT (b) | 354,497 | ||
| Malaysia – 1.1% | ||||
| 155,888 | Supermax Corp. Bhd (b) (f) | 261,201 | ||
| 207,200 | Top Glove Corp. Bhd (b) | 344,646 | ||
| 605,847 | ||||
| Marshall Islands – 0.7% | ||||
| 32,481 | Atlas Corp. | 365,086 | ||
| Mexico – 1.9% | ||||
| 105,609 | Qualitas Controladora S.A.B. de C.V. | 556,406 | ||
| 169,918 | Wal-Mart de Mexico S.A.B. de C.V. | 483,834 | ||
| 1,040,240 | ||||
| Philippines – 0.6% | ||||
| 357,600 | Metropolitan Bank & Trust Co. (b) | 333,798 | ||
| Poland – 0.6% | ||||
| 15,902 | Asseco Poland S.A. (b) | 289,465 | ||
| Russia – 4.7% | ||||
| 1,532 | MMC Norilsk Nickel PJSC (b) | 493,185 | ||
| 13,507 | MMC Norilsk Nickel PJSC, ADR (b) | 433,660 | ||
| 79,489 | Rosneft Oil Co. PJSC (b) | 495,809 | ||
| 200,322 | Sberbank of Russia PJSC (b) | 679,571 | ||
| 26,634 | Severstal PAO (b) | 442,018 | ||
| 2,544,243 | ||||
| Singapore – 0.7% | ||||
| 52,400 | Singapore Exchange Ltd. (b) | 389,281 | ||
| South Africa – 4.0% | ||||
| 46,635 | Exxaro Resources Ltd. (b) | 463,223 | ||
| Shares | Description | Value | ||
| South Africa (Continued) | ||||
| 40,712 | Impala Platinum Holdings Ltd. (b) | $549,797 | ||
| 12,588 | Kumba Iron Ore Ltd. (b) | 504,296 | ||
| 1,415 | Naspers Ltd., Class N (b) | 327,331 | ||
| 38,674 | Vodacom Group Ltd. (b) | 315,470 | ||
| 2,160,117 | ||||
| South Korea – 4.7% | ||||
| 4,976 | Coway Co., Ltd. (b) | 309,032 | ||
| 30,637 | Samsung Electronics Co., Ltd. (b) | 2,239,780 | ||
| 2,548,812 | ||||
| Taiwan – 12.6% | ||||
| 32,443 | Accton Technology Corp. (b) | 311,424 | ||
| 729,279 | IBF Financial Holdings Co., Ltd. (b) | 327,696 | ||
| 10,803 | International Games System Co., Ltd. (b) | 297,638 | ||
| 33,025 | Realtek Semiconductor Corp. (b) | 531,261 | ||
| 186,235 | Taiwan Semiconductor Manufacturing Co., Ltd. (b) | 3,935,778 | ||
| 3,977 | Taiwan Semiconductor Manufacturing Co., Ltd., ADR | 483,285 | ||
| 22,870 | United Integrated Services Co., Ltd. (b) | 194,849 | ||
| 386,813 | United Microelectronics Corp. (b) | 693,077 | ||
| 6,775,008 | ||||
| Turkey – 2.1% | ||||
| 606,177 | Dogan Sirketler Grubu Holding A.S. (b) | 321,180 | ||
| 149,350 | Eregli Demir ve Celik Fabrikalari T.A.S. (b) | 291,836 | ||
| 348,877 | Turkiye Sise ve Cam Fabrikalari A.S. (b) | 343,661 | ||
| 328,476 | Turkiye Vakiflar Bankasi TAO, Class D (b) (c) | 193,298 | ||
| 1,149,975 | ||||
| United Kingdom – 0.7% | ||||
| 10,472 | British American Tobacco PLC (b) | 380,530 | ||
| Total Investments – 99.2% | 53,407,500 | |||
| (Cost $39,531,008) (g) | ||||
| Net Other Assets and Liabilities – 0.8% | 407,684 | |||
| Net Assets – 100.0% | $53,815,184 | |||
| (a) | Portfolio securities are categorized based upon their country of incorporation. For a breakdown of the portfolio securities by sector, please see the Sector Allocation table. |
First Trust RiverFront Dynamic Emerging Markets ETF (RFEM)
Portfolio of Investments (Continued)
January 31, 2021 (Unaudited)
| (b) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940, as amended. At January 31, 2021, securities noted as such are valued at $40,224,569 or 74.7% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
| (c) | Non-income producing security. |
| (d) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933, as amended (the “1933 Act”). |
| (e) | This security is exempt from registration upon resale under Rule 144A of the 1933 Act and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities. |
| (f) | Non-income producing security that makes payment-in-kind (“PIK”) distributions. For the fiscal year-to-date period (November 1, 2020 through January 31, 2021), the Fund received 3,388 PIK shares of Supermax Corp. Bhd. |
| (g) | Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of January 31, 2021, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $15,526,057 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $1,649,565. The net unrealized appreciation was $13,876,492. |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of January 31, 2021 is as follows (see Valuation Inputs in the Additional Information section):
| Total Value at 1/31/2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
| Common Stocks: | ||||
| Argentina | $ 235,840 | $ 235,840 | $ — | $ — |
| Brazil | 3,385,506 | 3,385,506 | — | — |
| Cayman Islands | 16,832,831 | 7,061,264 | 9,771,567 | — |
| Colombia | 222,238 | 222,238 | — | — |
| India | 7,492,522 | 389,472 | 7,103,050 | — |
| Marshall Islands | 365,086 | 365,086 | — | — |
| Mexico | 1,040,240 | 1,040,240 | — | — |
| Taiwan | 6,775,008 | 483,285 | 6,291,723 | — |
| Other Country Categories* | 17,058,229 | — | 17,058,229 | — |
| Total Investments | $ 53,407,500 | $ 13,182,931 | $ 40,224,569 | $— |
| * | See Portfolio of Investments for country breakout. |
| Currency Exposure Diversification | % of Total Investments |
| Hong Kong Dollar | 28.7% |
| United States Dollar | 20.6 |
| Indian Rupee | 13.3 |
| New Taiwan Dollar | 11.8 |
| South Korean Won | 4.8 |
| South African Rand | 4.0 |
| Russian Ruble | 4.0 |
| Brazilian Real | 4.0 |
| Turkish Lira | 2.2 |
| Mexican Peso | 1.9 |
| Malaysian Ringgit | 1.1 |
| Singapore Dollar | 0.7 |
| British Pound Sterling | 0.7 |
| Indonesian Rupiah | 0.7 |
| Philippine Peso | 0.6 |
| Polish Zloty | 0.5 |
| Colombian Peso | 0.4 |
| Total | 100.0% |
First Trust RiverFront Dynamic Emerging Markets ETF (RFEM)
Portfolio of Investments (Continued)
January 31, 2021 (Unaudited)
| Sector Allocation | % of Total Investments |
| Information Technology | 25.0% |
| Consumer Discretionary | 15.1 |
| Communication Services | 12.7 |
| Financials | 11.5 |
| Materials | 11.0 |
| Real Estate | 5.5 |
| Consumer Staples | 4.5 |
| Industrials | 4.3 |
| Utilities | 3.8 |
| Health Care | 3.3 |
| Energy | 3.3 |
| Total | 100.0% |
Additional Information
First Trust Exchange-Traded Fund III
January 31, 2021 (Unaudited)
Valuation Inputs
The Funds are subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:
| • | Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. |
| • | Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.) |
| • | Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment. |
The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.