Shareholder Report | 12 Months Ended |
Oct. 31, 2024 USD ($) Holding |
Shareholder Report [Line Items] | | |
Document Type | N-CSR | |
Amendment Flag | false | |
Registrant Name | First Trust Series Fund | |
Entity Central Index Key | 0001497778 | |
Entity Investment Company Type | N-1A | |
Document Period End Date | Oct. 31, 2024 | |
C000092932 [Member] | | |
Shareholder Report [Line Items] | | |
Fund Name | First Trust Preferred Securitiesand Income Fund | |
Class Name | FPEAX | |
Trading Symbol | Class A | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the First Trust Preferred Securities and Income Fund (the “Fund”) for the year of November 1, 2023 to October 31, 2024 (the “Period”). | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at www.ftportfolios.com/fund-documents/MF/FPEAX info ftportfolios.com | |
Additional Information Phone Number | 1-800-621-1675 | |
Additional Information Email | info@ftportfolios.com | |
Additional Information Website | www.ftportfolios.com/fund-documents/MF/FPEAX | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (Based on a hypothetical $10,000 investment) Fund Costs of a $10,000 investment Costs paid as a percentage First Trust Preferred Securities and Income Fund - Class A $ 1.41 % (1) (1 ) The ratio reflects extraordinary legal expenses of 0.01%, which are not included in the expense cap. | |
Expenses Paid, Amount | $ 155 | |
Expense Ratio, Percent | 1.41% | [1] |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND’S PERFORMANCE? The Fund’s Class A returned 20.44% (without sales charge) for the 12 months ended October 31, 2024. The Fund’s Class A underperformed its benchmark, a blended benchmark consisting of a 30/30/30/10 blend of the ICE BofA Core Plus Fixed Rate Preferred Securities Index, the ICE BofA US Investment Grade Institutional Capital Securities Index, the ICE USD Contingent Capital Index and the ICE BofA US High Yield Institutional Capital Securities Index, which returned 20.56% for the same Period. The performance of the Fund was primarily driven by security selection within variable rate securities during the bullish Period. Many of these securities were trading at deep discounts to par to start the Period but pulled towards par during the Period as resilient economic data and disinflation drove spreads tighter across the market. This was most pronounced within shorter duration securities that are approaching their first call dates. Other factors that contributed to the Fund’s performance were as follows: Better security selection and overweight allocation to newly issued securities in 2024; Security selection within global banks including U.S. Global Systematically Important Banks, European banks and high-quality Emerging Market Banks; Security selection in insurance, utilities and energy pipelines. There were a few factors that detracted from relative performance compared to the benchmark. This included the Fund’s underweight to longer duration (10+ year) securities, including fixed rate coupon security structures. These securities outperformed as rates moved lower during the Period. Other factors that detracted from relative performance were as follows: Underweight allocation and security selection within regional and super regional banks; Overweight allocation to Federal Farm Credit Banks; Underweight allocation to consumer finance. Despite the economic resilience experienced through the tightening cycle to date, the Fund maintains a conservative stance as it relates to credit. Specifically, this includes underweighting potentially higher beta parts of the market, including consumer finance, regional banks and real estate investment trusts. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. | |
Line Graph [Table Text Block] | FUND PERFORMANCE (October 31, 2014 to October 31, 2024) The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund’s performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods. INVESTMENT PERFORMANCE OF $10,000 | |
Average Annual Return [Table Text Block] | Average Annual Total Returns (as of October 31, 2024) 1 Year 5 Year 10 Year First Trust Preferred Securities and Income Fund - Class A (w/max 4.50% sales charge) 15.02 % 2.00 % 4.14 % First Trust Preferred Securities and Income Fund - Class A (without sales charge) 20.44 % 2.94 % 4.62 % ICE BofA US Investment Grade Institutional Capital Securities Index 17.82 % 3.90 % 4.79 % Blended Index (1) 20.56 % 2.84 % 4.76 % Bloomberg US Aggregate Bond Index 10.55 % (0.23 ) % 1.49 % (1) The Blended Index consists of a 30/30/30/10 blend of the ICE BofA Core Plus Fixed Rate Preferred Securities Index, the ICE BofA US Investment Grade Institutional Capital Securities Index, the ICE USD Contingent Capital Index and the ICE BofA US High Yield Institutional Capital Securities Index. | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | Visit www.ftportfolios.com/MF/FPEAX for more recent performance information. | |
Net Assets | $ 234,020,431 | |
Holdings Count | Holding | 185 | |
Advisory Fees Paid, Amount | $ 1,732,894 | |
Investment Company Portfolio Turnover | 43% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (As of Fund net assets $ Total number of portfolio holdings 185 Total advisory fee paid $ Portfolio turnover rate 43 % | |
Holdings [Text Block] | WHAT DID THE FUND INVEST IN? (As of October 31, 2024) The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund. Top Ten Holdings Bank of America Corp., Series TT 2.6 % Wells Fargo & Co., Series L 2.1 % Barclays PLC 1.8 % JPMorgan Chase & Co., Series NN 1.8 % Energy Transfer, L.P., Series G 1.7 % Intesa Sanpaolo S.p.A. 1.7 % Lloyds Banking Group PLC 1.5 % Toronto-Dominion Bank (The) 1.5 % Bank of Montreal 1.5 % Global Atlantic Fin Co. 1.4 % Sector Allocation | |
Largest Holdings [Text Block] | Top Ten Holdings Bank of America Corp., Series TT 2.6 % Wells Fargo & Co., Series L 2.1 % Barclays PLC 1.8 % JPMorgan Chase & Co., Series NN 1.8 % Energy Transfer, L.P., Series G 1.7 % Intesa Sanpaolo S.p.A. 1.7 % Lloyds Banking Group PLC 1.5 % Toronto-Dominion Bank (The) 1.5 % Bank of Montreal 1.5 % Global Atlantic Fin Co. 1.4 % | |
C000092933 [Member] | | |
Shareholder Report [Line Items] | | |
Fund Name | First Trust Preferred Securitiesand Income Fund | |
Class Name | Class C | |
Trading Symbol | FPECX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the First Trust Preferred Securities and Income Fund (the “Fund”) for the year of November 1, 2023 to October 31, 2024 (the “Period”). | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at www.ftportfolios.com/fund-documents/MF/FPECX info ftportfolios.com | |
Additional Information Phone Number | 1-800-621-1675 | |
Additional Information Email | info@ftportfolios.com | |
Additional Information Website | www.ftportfolios.com/fund-documents/MF/FPECX | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (Based on a hypothetical $10,000 investment) Fund Costs of a $10,000 investment Costs paid as a percentage First Trust Preferred Securities and Income Fund - Class C $ 2.16 % (1) (1 ) The ratio reflects extraordinary legal expenses of 0.01%, which are not included in the expense cap. | |
Expenses Paid, Amount | $ 237 | |
Expense Ratio, Percent | 2.16% | [2] |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND’S PERFORMANCE? The Fund’s Class C returned 19.57% (without sales charge) for the 12 months ended October 31, 2024. The Fund’s Class C underperformed its benchmark, a blended benchmark consisting of a 30/30/30/10 blend of the ICE BofA Core Plus Fixed Rate Preferred Securities Index, the ICE BofA US Investment Grade Institutional Capital Securities Index, the ICE USD Contingent Capital Index and the ICE BofA US High Yield Institutional Capital Securities Index, which returned 20.56% for the same Period. The performance of the Fund was primarily driven by security selection within variable rate securities during the bullish Period. Many of these securities were trading at deep discounts to par to start the Period but pulled towards par during the Period as resilient economic data and disinflation drove spreads tighter across the market. This was most pronounced within shorter duration securities that are approaching their first call dates. Other factors that contributed to the Fund’s performance were as follows: Better security selection and overweight allocation to newly issued securities in 2024; Security selection within global banks including U.S. Global Systematically Important Banks, European banks and high-quality Emerging Market Banks; Security selection in insurance, utilities and energy pipelines. There were a few factors that detracted from relative performance compared to the benchmark. This included the Fund’s underweight to longer duration (10+ year) securities, including fixed rate coupon security structures. These securities outperformed as rates moved lower during the Period. Other factors that detracted from relative performance were as follows: Underweight allocation and security selection within regional and super regional banks; Overweight allocation to Federal Farm Credit Banks; Underweight allocation to consumer finance. Despite the economic resilience experienced through the tightening cycle to date, the Fund maintains a conservative stance as it relates to credit. Specifically, this includes underweighting potentially higher beta parts of the market, including consumer finance, regional banks and real estate investment trusts. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. | |
Line Graph [Table Text Block] | FUND PERFORMANCE (October 31, 2014 to October 31, 2024) The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund’s performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods. INVESTMENT PERFORMANCE OF $10,000 | |
Average Annual Return [Table Text Block] | Average Annual Total Returns (as of October 31, 2024) 1 Year 5 Year 10 Year First Trust Preferred Securities and Income Fund - Class C (w/max 1.00% contingent deferred sales charge) 18.57 % 2.21 % 3.88 % First Trust Preferred Securities and Income Fund - Class C (without sales charge) 19.57 % 2.21 % 3.88 % ICE BofA US Investment Grade Institutional Capital Securities Index 17.82 % 3.90 % 4.79 % Blended Index (1) 20.56 % 2.84 % 4.76 % Bloomberg US Aggregate Bond Index 10.55 % (0.23 ) % 1.49 % (1) The Blended Index consists of a 30/30/30/10 blend of the ICE BofA Core Plus Fixed Rate Preferred Securities Index, the ICE BofA US Investment Grade Institutional Capital Securities Index, the ICE USD Contingent Capital Index and the ICE BofA US High Yield Institutional Capital Securities Index. | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | Visit www.ftportfolios.com/MF/FPECX for more recent performance information. | |
Net Assets | $ 234,020,431 | |
Holdings Count | Holding | 185 | |
Advisory Fees Paid, Amount | $ 1,732,894 | |
Investment Company Portfolio Turnover | 43% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (As of Fund net assets $ Total number of portfolio holdings 185 Total advisory fee paid $ Portfolio turnover rate 43 % | |
Holdings [Text Block] | WHAT DID THE FUND INVEST IN? (As of October 31, 2024) The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund. Top Ten Holdings Bank of America Corp., Series TT 2.6 % Wells Fargo & Co., Series L 2.1 % Barclays PLC 1.8 % JPMorgan Chase & Co., Series NN 1.8 % Energy Transfer, L.P., Series G 1.7 % Intesa Sanpaolo S.p.A. 1.7 % Lloyds Banking Group PLC 1.5 % Toronto-Dominion Bank (The) 1.5 % Bank of Montreal 1.5 % Global Atlantic Fin Co. 1.4 % Sector Allocation | |
Largest Holdings [Text Block] | Top Ten Holdings Bank of America Corp., Series TT 2.6 % Wells Fargo & Co., Series L 2.1 % Barclays PLC 1.8 % JPMorgan Chase & Co., Series NN 1.8 % Energy Transfer, L.P., Series G 1.7 % Intesa Sanpaolo S.p.A. 1.7 % Lloyds Banking Group PLC 1.5 % Toronto-Dominion Bank (The) 1.5 % Bank of Montreal 1.5 % Global Atlantic Fin Co. 1.4 % | |
C000092934 [Member] | | |
Shareholder Report [Line Items] | | |
Fund Name | First Trust Preferred Securitiesand Income Fund | |
Class Name | Class F | |
Trading Symbol | FPEFX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the First Trust Preferred Securities and Income Fund (the “Fund”) for the year of November 1, 2023 to October 31, 2024 (the “Period”). | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at www.ftportfolios.com/fund-documents/MF/FPEFX info ftportfolios.com | |
Additional Information Phone Number | 1-800-621-1675 | |
Additional Information Email | info@ftportfolios.com | |
Additional Information Website | www.ftportfolios.com/fund-documents/MF/FPEFX | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (Based on a hypothetical $10,000 investment) Fund Costs of a $10,000 investment Costs paid as a percentage First Trust Preferred Securities and Income Fund - Class F $ 1.31 % (1) (1 ) The ratio reflects extraordinary legal expenses of 0.01%, which are not included in the expense cap. | |
Expenses Paid, Amount | $ 145 | |
Expense Ratio, Percent | 1.31% | [3] |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND’S PERFORMANCE? The Fund’s Class F returned 20.63% for the 12 months ended October 31, 2024. The Fund’s Class F outperformed its benchmark, a blended benchmark consisting of a 30/30/30/10 blend of the ICE BofA Core Plus Fixed Rate Preferred Securities Index, the ICE BofA US Investment Grade Institutional Capital Securities Index, the ICE USD Contingent Capital Index and the ICE BofA US High Yield Institutional Capital Securities Index, which returned 20.56% for the same Period. The performance of the Fund was primarily driven by security selection within variable rate securities during the bullish Period. Many of these securities were trading at deep discounts to par to start the Period but pulled towards par during the Period as resilient economic data and disinflation drove spreads tighter across the market. This was most pronounced within shorter duration securities that are approaching their first call dates. Other factors that contributed to the Fund’s performance were as follows: Better security selection and overweight allocation to newly issued securities in 2024; Security selection within global banks including U.S. Global Systematically Important Banks, European banks and high-quality Emerging Market Banks; Security selection in insurance, utilities and energy pipelines. There were a few factors that detracted from relative performance compared to the benchmark. This included the Fund’s underweight to longer duration (10+ year) securities, including fixed rate coupon security structures. These securities outperformed as rates moved lower during the Period. Other factors that detracted from relative performance were as follows: Underweight allocation and security selection within regional and super regional banks; Overweight allocation to Federal Farm Credit Banks; Underweight allocation to consumer finance. Despite the economic resilience experienced through the tightening cycle to date, the Fund maintains a conservative stance as it relates to credit. Specifically, this includes underweighting potentially higher beta parts of the market, including consumer finance, regional banks and real estate investment trusts. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. | |
Line Graph [Table Text Block] | FUND PERFORMANCE (October 31, 2014 to October 31, 2024) The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund’s performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods. INVESTMENT PERFORMANCE OF $10,000 | |
Average Annual Return [Table Text Block] | Average Annual Total Returns (as of October 31, 2024) 1 Year 5 Year 10 Year First Trust Preferred Securities and Income Fund - Class F 20.63 % 3.04 % 4.73 % ICE BofA US Investment Grade Institutional Capital Securities Index 17.82 % 3.90 % 4.79 % Blended Index (1) 20.56 % 2.84 % 4.76 % Bloomberg US Aggregate Bond Index 10.55 % (0.23 ) % 1.49 % (1) The Blended Index consists of a 30/30/30/10 blend of the ICE BofA Core Plus Fixed Rate Preferred Securities Index, the ICE BofA US Investment Grade Institutional Capital Securities Index, the ICE USD Contingent Capital Index and the ICE BofA US High Yield Institutional Capital Securities Index. | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | Visit www.ftportfolios.com/MF/FPEFX for more recent performance information. | |
Net Assets | $ 234,020,431 | |
Holdings Count | Holding | 185 | |
Advisory Fees Paid, Amount | $ 1,732,894 | |
Investment Company Portfolio Turnover | 43% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (As of Fund net assets $ Total number of portfolio holdings 185 Total advisory fee paid $ Portfolio turnover rate 43 % | |
Holdings [Text Block] | WHAT DID THE FUND INVEST IN? (As of October 31, 2024) The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund. Top Ten Holdings Bank of America Corp., Series TT 2.6 % Wells Fargo & Co., Series L 2.1 % Barclays PLC 1.8 % JPMorgan Chase & Co., Series NN 1.8 % Energy Transfer, L.P., Series G 1.7 % Intesa Sanpaolo S.p.A. 1.7 % Lloyds Banking Group PLC 1.5 % Toronto-Dominion Bank (The) 1.5 % Bank of Montreal 1.5 % Global Atlantic Fin Co. 1.4 % Sector Allocation | |
Largest Holdings [Text Block] | Top Ten Holdings Bank of America Corp., Series TT 2.6 % Wells Fargo & Co., Series L 2.1 % Barclays PLC 1.8 % JPMorgan Chase & Co., Series NN 1.8 % Energy Transfer, L.P., Series G 1.7 % Intesa Sanpaolo S.p.A. 1.7 % Lloyds Banking Group PLC 1.5 % Toronto-Dominion Bank (The) 1.5 % Bank of Montreal 1.5 % Global Atlantic Fin Co. 1.4 % | |
C000092935 [Member] | | |
Shareholder Report [Line Items] | | |
Fund Name | First Trust Preferred Securitiesand Income Fund | |
Class Name | Class I | |
Trading Symbol | FPEIX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the First Trust Preferred Securities and Income Fund (the “Fund”) for the year of November 1, 2023 to October 31, 2024 (the “Period”). | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at www.ftportfolios.com/fund-documents/MF/FPEIX info ftportfolios.com | |
Additional Information Phone Number | 1-800-621-1675 | |
Additional Information Email | info@ftportfolios.com | |
Additional Information Website | www.ftportfolios.com/fund-documents/MF/FPEIX | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (Based on a hypothetical $10,000 investment) Fund Costs of a $10,000 investment Costs paid as a percentage First Trust Preferred Securities and Income Fund - Class I $ 1.06 % (1) (1 ) The ratio reflects extraordinary legal expenses of 0.01%, which are not included in the expense cap. | |
Expenses Paid, Amount | $ 117 | |
Expense Ratio, Percent | 1.06% | [4] |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND’S PERFORMANCE? The Fund’s Class I returned 20.92% for the 12 months ended October 31, 2024. The Fund’s Class I outperformed its benchmark, a blended benchmark consisting of a 30/30/30/10 blend of the ICE BofA Core Plus Fixed Rate Preferred Securities Index, the ICE BofA US Investment Grade Institutional Capital Securities Index, the ICE USD Contingent Capital Index and the ICE BofA US High Yield Institutional Capital Securities Index, which returned 20.56% for the same Period. The performance of the Fund was primarily driven by security selection within variable rate securities during the bullish Period. Many of these securities were trading at deep discounts to par to start the Period but pulled towards par during the Period as resilient economic data and disinflation drove spreads tighter across the market. This was most pronounced within shorter duration securities that are approaching their first call dates. Other factors that contributed to the Fund’s performance were as follows: Better security selection and overweight allocation to newly issued securities in 2024; Security selection within global banks including U.S. Global Systematically Important Banks, European banks and high-quality Emerging Market Banks; Security selection in insurance, utilities and energy pipelines. There were a few factors that detracted from relative performance compared to the benchmark. This included the Fund’s underweight to longer duration (10+ year) securities, including fixed rate coupon security structures. These securities outperformed as rates moved lower during the Period. Other factors that detracted from relative performance were as follows: Underweight allocation and security selection within regional and super regional banks; Overweight allocation to Federal Farm Credit Banks; Underweight allocation to consumer finance. Despite the economic resilience experienced through the tightening cycle to date, the Fund maintains a conservative stance as it relates to credit. Specifically, this includes underweighting potentially higher beta parts of the market, including consumer finance, regional banks and real estate investment trusts. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. | |
Line Graph [Table Text Block] | FUND PERFORMANCE (October 31, 2014 to October 31, 2024) The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund’s performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods. INVESTMENT PERFORMANCE OF $10,000 | |
Average Annual Return [Table Text Block] | Average Annual Total Returns (as of October 31, 2024) 1 Year 5 Year 10 Year First Trust Preferred Securities and Income Fund - Class I 20.92 % 3.22 % 4.91 % ICE BofA US Investment Grade Institutional Capital Securities Index 17.82 % 3.90 % 4.79 % Blended Index (1) 20.56 % 2.84 % 4.76 % Bloomberg US Aggregate Bond Index 10.55 % (0.23 ) % 1.49 % (1) The Blended Index consists of a 30/30/30/10 blend of the ICE BofA Core Plus Fixed Rate Preferred Securities Index, the ICE BofA US Investment Grade Institutional Capital Securities Index, the ICE USD Contingent Capital Index and the ICE BofA US High Yield Institutional Capital Securities Index. | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | Visit www.ftportfolios.com/MF/FPEIX for more recent performance information. | |
Net Assets | $ 234,020,431 | |
Holdings Count | Holding | 185 | |
Advisory Fees Paid, Amount | $ 1,732,894 | |
Investment Company Portfolio Turnover | 43% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (As of Fund net assets $ Total number of portfolio holdings 185 Total advisory fee paid $ Portfolio turnover rate 43 % | |
Holdings [Text Block] | WHAT DID THE FUND INVEST IN? (As of October 31, 2024) The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund. Top Ten Holdings Bank of America Corp., Series TT 2.6 % Wells Fargo & Co., Series L 2.1 % Barclays PLC 1.8 % JPMorgan Chase & Co., Series NN 1.8 % Energy Transfer, L.P., Series G 1.7 % Intesa Sanpaolo S.p.A. 1.7 % Lloyds Banking Group PLC 1.5 % Toronto-Dominion Bank (The) 1.5 % Bank of Montreal 1.5 % Global Atlantic Fin Co. 1.4 % Sector Allocation | |
Largest Holdings [Text Block] | Top Ten Holdings Bank of America Corp., Series TT 2.6 % Wells Fargo & Co., Series L 2.1 % Barclays PLC 1.8 % JPMorgan Chase & Co., Series NN 1.8 % Energy Transfer, L.P., Series G 1.7 % Intesa Sanpaolo S.p.A. 1.7 % Lloyds Banking Group PLC 1.5 % Toronto-Dominion Bank (The) 1.5 % Bank of Montreal 1.5 % Global Atlantic Fin Co. 1.4 % | |
C000092936 [Member] | | |
Shareholder Report [Line Items] | | |
Fund Name | First Trust Preferred Securitiesand Income Fund | |
Class Name | Class R3 | |
Trading Symbol | FPERX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the First Trust Preferred Securities and Income Fund (the “Fund”) for the year of November 1, 2023 to October 31, 2024 (the “Period”). | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at www.ftportfolios.com/fund-documents/MF/FPERX info ftportfolios.com | |
Additional Information Phone Number | 1-800-621-1675 | |
Additional Information Email | info@ftportfolios.com | |
Additional Information Website | www.ftportfolios.com/fund-documents/MF/FPERX | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (Based on a hypothetical $10,000 investment) Fund Costs of a $10,000 investment Costs paid as a percentage First Trust Preferred Securities and Income Fund - Class R3 $ 1.66 % (1) (1 ) The ratio reflects extraordinary legal expenses of 0.01%, which are not included in the expense cap. | |
Expenses Paid, Amount | $ 183 | |
Expense Ratio, Percent | 1.66% | [5] |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND’S PERFORMANCE? The Fund’s Class R3 returned 20.19% for the 12 months ended October 31, 2024. The Fund’s Class R3 underperformed its benchmark, a blended benchmark consisting of a 30/30/30/10 blend of the ICE BofA Core Plus Fixed Rate Preferred Securities Index, the ICE BofA US Investment Grade Institutional Capital Securities Index, the ICE USD Contingent Capital Index and the ICE BofA US High Yield Institutional Capital Securities Index, which returned 20.56% for the same Period. The performance of the Fund was primarily driven by security selection within variable rate securities during the bullish Period. Many of these securities were trading at deep discounts to par to start the Period but pulled towards par during the Period as resilient economic data and disinflation drove spreads tighter across the market. This was most pronounced within shorter duration securities that are approaching their first call dates. Other factors that contributed to the Fund’s performance were as follows: Better security selection and overweight allocation to newly issued securities in 2024; Security selection within global banks including U.S. Global Systematically Important Banks, European banks and high-quality Emerging Market Banks; Security selection in insurance, utilities and energy pipelines. There were a few factors that detracted from relative performance compared to the benchmark. This included the Fund’s underweight to longer duration (10+ year) securities, including fixed rate coupon security structures. These securities outperformed as rates moved lower during the Period. Other factors that detracted from relative performance were as follows: Underweight allocation and security selection within regional and super regional banks; Overweight allocation to Federal Farm Credit Banks; Underweight allocation to consumer finance. Despite the economic resilience experienced through the tightening cycle to date, the Fund maintains a conservative stance as it relates to credit. Specifically, this includes underweighting potentially higher beta parts of the market, including consumer finance, regional banks and real estate investment trusts. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. | |
Line Graph [Table Text Block] | FUND PERFORMANCE (October 31, 2014 to October 31, 2024) The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund’s performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods. INVESTMENT PERFORMANCE OF $10,000 | |
Average Annual Return [Table Text Block] | Average Annual Total Returns (as of October 31, 2024) 1 Year 5 Year 10 Year First Trust Preferred Securities and Income Fund - Class R3 20.19 % 2.66 % 4.32 % ICE BofA US Investment Grade Institutional Capital Securities Index 17.82 % 3.90 % 4.79 % Blended Index (1) 20.56 % 2.84 % 4.76 % Bloomberg US Aggregate Bond Index 10.55 % (0.23 ) % 1.49 % (1) The Blended Index consists of a 30/30/30/10 blend of the ICE BofA Core Plus Fixed Rate Preferred Securities Index, the ICE BofA US Investment Grade Institutional Capital Securities Index, the ICE USD Contingent Capital Index and the ICE BofA US High Yield Institutional Capital Securities Index. | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | Visit www.ftportfolios.com/MF/FPERX for more recent performance information. | |
Net Assets | $ 234,020,431 | |
Holdings Count | Holding | 185 | |
Advisory Fees Paid, Amount | $ 1,732,894 | |
Investment Company Portfolio Turnover | 43% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (As of Fund net assets $ Total number of portfolio holdings 185 Total advisory fee paid $ Portfolio turnover rate 43 % | |
Holdings [Text Block] | WHAT DID THE FUND INVEST IN? (As of October 31, 2024) The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund. Top Ten Holdings Bank of America Corp., Series TT 2.6 % Wells Fargo & Co., Series L 2.1 % Barclays PLC 1.8 % JPMorgan Chase & Co., Series NN 1.8 % Energy Transfer, L.P., Series G 1.7 % Intesa Sanpaolo S.p.A. 1.7 % Lloyds Banking Group PLC 1.5 % Toronto-Dominion Bank (The) 1.5 % Bank of Montreal 1.5 % Global Atlantic Fin Co. 1.4 % Sector Allocation | |
Largest Holdings [Text Block] | Top Ten Holdings Bank of America Corp., Series TT 2.6 % Wells Fargo & Co., Series L 2.1 % Barclays PLC 1.8 % JPMorgan Chase & Co., Series NN 1.8 % Energy Transfer, L.P., Series G 1.7 % Intesa Sanpaolo S.p.A. 1.7 % Lloyds Banking Group PLC 1.5 % Toronto-Dominion Bank (The) 1.5 % Bank of Montreal 1.5 % Global Atlantic Fin Co. 1.4 % | |
C000092938 [Member] | | |
Shareholder Report [Line Items] | | |
Fund Name | First Trust/Confluence Small Cap Value Fund | |
Class Name | Class A | |
Trading Symbol | FOVAX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the First Trust/Confluence Small Cap Value Fund (the “Fund”) for the year of November 1, 2023 to October 31, 2024 (the “Period”). | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at www.ftportfolios.com/fund-documents/MF/FOVAX info ftportfolios.com | |
Additional Information Phone Number | 1-800-621-1675 | |
Additional Information Email | info@ftportfolios.com | |
Additional Information Website | www.ftportfolios.com/fund-documents/MF/FOVAX | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (Based on a hypothetical $10,000 investment) Fund Costs of a $10,000 investment Costs paid as a percentage First Trust/Confluence Small Cap Value Fund - Class A $ 1.60 % | |
Expenses Paid, Amount | $ 176 | |
Expense Ratio, Percent | 1.60% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND’S PERFORMANCE? The Fund’s Class A returned 19.54% (without sales charge) for the 12 months ended October 31, 2024. The Fund’s Class A underperformed its benchmark, the Russell 2000 ® The Period began on the heels of the last interest rate hike by the Federal Reserve (the “Fed”) and the signal that rate cuts were probable over the ensuing year. The Fed did not disappoint as the rate of inflation continued to decline and provided the Fed the cover to begin cutting the Federal Funds target rate, which commenced in September 2024 with a 50 basis points cut. By the end of the Period, the Fed had swung to a more accommodative policy following very aggressive interest rate hikes that started in mid-2022. The policy shift and avoidance of a recession while employment remained solid provided a nice tailwind for equities following a couple of tough years for small caps. The Fund benefited from the backdrop and produced strong results for the Period. The relative underperformance was impacted by the strong beta-driven rally, which tends to benefit the highly cyclical and/or leveraged businesses, as well as declines from a few of the Fund’s holdings, primarily in the Consumer Staples and Consumer Discretionary sectors. Recall that our philosophy is focused on quality businesses that are conservatively financed trading at attractive valuations and does so in a concentrated manner. This will result in some differences from time to time based on the sentiment of the market and/or the performance of a few underlying names in the Fund’s portfolio. The philosophy has historically provided less volatility and good downside protection albeit with the expected tracking error. Tracking error can be good or bad over the short run but over the long run it has been additive. We remain committed to our philosophy and process as our focus on fundamental research has shown to be successful over the long term. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. | |
Line Graph [Table Text Block] | FUND PERFORMANCE (October 31, 2014 to October 31, 2024) The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund’s performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods. INVESTMENT PERFORMANCE OF $10,000 | |
Average Annual Return [Table Text Block] | Average Annual Total Returns (as of October 31, 2024) 1 Year 5 Year 10 Year First Trust/Confluence Small Cap Value Fund - Class A (w/max 5.50% sales charge) 12.98 % 1.02 % 4.58 % First Trust/Confluence Small Cap Value Fund - Class A (without sales charge) 19.54 % 2.17 % 5.17 % Russell 2000 ® 31.77 % 8.42 % 7.33 % Russell 2000 ® 34.07 % 8.50 % 7.94 % Russell 3000 ® 37.86 % 14.60 % 12.44 % | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | Visit www.ftportfolios.com/MF/FOVAX for more recent performance information. | |
Net Assets | $ 21,692,431 | |
Holdings Count | Holding | 31 | |
Advisory Fees Paid, Amount | $ 5,067 | |
Investment Company Portfolio Turnover | 17% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (As of Fund net assets $ Total number of portfolio holdings 31 Total advisory fee paid $ Portfolio turnover rate 17 % | |
Holdings [Text Block] | WHAT DID THE FUND INVEST IN? (As of October 31, 2024) The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund. Top Ten Holdings Baldwin Insurance (The) Group, Inc. 5.3 % Hagerty, Inc., Class A 4.7 % Sapiens International Corp., N.V. 4.1 % RBC Bearings, Inc. 3.9 % Gates Industrial Corp. PLC 3.9 % J&J Snack Foods Corp. 3.9 % I3 Verticals, Inc., Class A 3.9 % Hayward Holdings, Inc. 3.9 % Brown & Brown, Inc. 3.8 % John Bean Technologies Corp. 3.7 % Sector Allocation | |
Largest Holdings [Text Block] | Top Ten Holdings Baldwin Insurance (The) Group, Inc. 5.3 % Hagerty, Inc., Class A 4.7 % Sapiens International Corp., N.V. 4.1 % RBC Bearings, Inc. 3.9 % Gates Industrial Corp. PLC 3.9 % J&J Snack Foods Corp. 3.9 % I3 Verticals, Inc., Class A 3.9 % Hayward Holdings, Inc. 3.9 % Brown & Brown, Inc. 3.8 % John Bean Technologies Corp. 3.7 % | |
C000092939 [Member] | | |
Shareholder Report [Line Items] | | |
Fund Name | First Trust/Confluence Small Cap Value Fund | |
Class Name | Class C | |
Trading Symbol | FOVCX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the First Trust/Confluence Small Cap Value Fund (the “Fund”) for the year of November 1, 2023 to October 31, 2024 (the “Period”). | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at www.ftportfolios.com/fund-documents/MF/FOVCX info ftportfolios.com | |
Additional Information Phone Number | 1-800-621-1675 | |
Additional Information Email | info@ftportfolios.com | |
Additional Information Website | www.ftportfolios.com/fund-documents/MF/FOVCX | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (Based on a hypothetical $10,000 investment) Fund Costs of a $10,000 investment Costs paid as a percentage First Trust/Confluence Small Cap Value Fund - Class C $ 2.35 % | |
Expenses Paid, Amount | $ 257 | |
Expense Ratio, Percent | 2.35% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND’S PERFORMANCE? The Fund’s Class C returned 18.64% (without sales charge) for the 12 months ended October 31, 2024. The Fund’s Class C underperformed its benchmark, the Russell 2000 ® The Period began on the heels of the last interest rate hike by the Federal Reserve (the “Fed”) and the signal that rate cuts were probable over the ensuing year. The Fed did not disappoint as the rate of inflation continued to decline and provided the Fed the cover to begin cutting the Federal Funds target rate, which commenced in September 2024 with a 50 basis points cut. By the end of the Period, the Fed had swung to a more accommodative policy following very aggressive interest rate hikes that started in mid-2022. The policy shift and avoidance of a recession while employment remained solid provided a nice tailwind for equities following a couple of tough years for small caps. The Fund benefited from the backdrop and produced strong results for the Period. The relative underperformance was impacted by the strong beta-driven rally, which tends to benefit the highly cyclical and/or leveraged businesses, as well as declines from a few of the Fund’s holdings, primarily in the Consumer Staples and Consumer Discretionary sectors. Recall that our philosophy is focused on quality businesses that are conservatively financed trading at attractive valuations and does so in a concentrated manner. This will result in some differences from time to time based on the sentiment of the market and/or the performance of a few underlying names in the Fund’s portfolio. The philosophy has historically provided less volatility and good downside protection albeit with the expected tracking error. Tracking error can be good or bad over the short run but over the long run it has been additive. We remain committed to our philosophy and process as our focus on fundamental research has shown to be successful over the long term. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. | |
Line Graph [Table Text Block] | FUND PERFORMANCE (October 31, 2014 to October 31, 2024) The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund’s performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods. INVESTMENT PERFORMANCE OF $10,000 | |
Average Annual Return [Table Text Block] | Average Annual Total Returns (as of October 31, 2024) 1 Year 5 Year 10 Year First Trust/Confluence Small Cap Value Fund - Class C (w/max 1.00% contingent deferred sales charge) 17.64 % 1.38 % 4.37 % First Trust/Confluence Small Cap Value Fund - Class C (without sales charge) 18.64 % 1.38 % 4.37 % Russell 2000 ® 31.77 % 8.42 % 7.33 % Russell 2000 ® 34.07 % 8.50 % 7.94 % Russell 3000 ® 37.86 % 14.60 % 12.44 % | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | Visit www.ftportfolios.com/MF/FOVCX for more recent performance information. | |
Net Assets | $ 21,692,431 | |
Holdings Count | Holding | 31 | |
Advisory Fees Paid, Amount | $ 5,067 | |
Investment Company Portfolio Turnover | 17% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (As of Fund net assets $ Total number of portfolio holdings 31 Total advisory fee paid $ Portfolio turnover rate 17 % | |
Holdings [Text Block] | WHAT DID THE FUND INVEST IN? (As of October 31, 2024) The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund. Top Ten Holdings Baldwin Insurance (The) Group, Inc. 5.3 % Hagerty, Inc., Class A 4.7 % Sapiens International Corp., N.V. 4.1 % RBC Bearings, Inc. 3.9 % Gates Industrial Corp. PLC 3.9 % J&J Snack Foods Corp. 3.9 % I3 Verticals, Inc., Class A 3.9 % Hayward Holdings, Inc. 3.9 % Brown & Brown, Inc. 3.8 % John Bean Technologies Corp. 3.7 % Sector Allocation | |
Largest Holdings [Text Block] | Top Ten Holdings Baldwin Insurance (The) Group, Inc. 5.3 % Hagerty, Inc., Class A 4.7 % Sapiens International Corp., N.V. 4.1 % RBC Bearings, Inc. 3.9 % Gates Industrial Corp. PLC 3.9 % J&J Snack Foods Corp. 3.9 % I3 Verticals, Inc., Class A 3.9 % Hayward Holdings, Inc. 3.9 % Brown & Brown, Inc. 3.8 % John Bean Technologies Corp. 3.7 % | |
C000092941 [Member] | | |
Shareholder Report [Line Items] | | |
Fund Name | First Trust/Confluence Small Cap Value Fund | |
Class Name | Class I | |
Trading Symbol | FOVIX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the First Trust/Confluence Small Cap Value Fund (the “Fund”) for the year of November 1, 2023 to October 31, 2024 (the “Period”). | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at www.ftportfolios.com/fund-documents/MF/FOVIX info ftportfolios.com | |
Additional Information Phone Number | 1-800-621-1675 | |
Additional Information Email | info@ftportfolios.com | |
Additional Information Website | www.ftportfolios.com/fund-documents/MF/FOVIX | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (Based on a hypothetical $10,000 investment) Fund Costs of a $10,000 investment Costs paid as a percentage First Trust/Confluence Small Cap Value Fund - Class I $ 1.35 % | |
Expenses Paid, Amount | $ 148 | |
Expense Ratio, Percent | 1.35% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND’S PERFORMANCE? The Fund’s Class I returned 19.87% for the 12 months ended October 31, 2024. The Fund’s Class I underperformed its benchmark, the Russell 2000 ® The Period began on the heels of the last interest rate hike by the Federal Reserve (the “Fed”) and the signal that rate cuts were probable over the ensuing year. The Fed did not disappoint as the rate of inflation continued to decline and provided the Fed the cover to begin cutting the Federal Funds target rate, which commenced in September 2024 with a 50 basis points cut. By the end of the Period, the Fed had swung to a more accommodative policy following very aggressive interest rate hikes that started in mid-2022. The policy shift and avoidance of a recession while employment remained solid provided a nice tailwind for equities following a couple of tough years for small caps. The Fund benefited from the backdrop and produced strong results for the Period. The relative underperformance was impacted by the strong beta-driven rally, which tends to benefit the highly cyclical and/or leveraged businesses, as well as declines from a few of the Fund’s holdings, primarily in the Consumer Staples and Consumer Discretionary sectors. Recall that our philosophy is focused on quality businesses that are conservatively financed trading at attractive valuations and does so in a concentrated manner. This will result in some differences from time to time based on the sentiment of the market and/or the performance of a few underlying names in the Fund’s portfolio. The philosophy has historically provided less volatility and good downside protection albeit with the expected tracking error. Tracking error can be good or bad over the short run but over the long run it has been additive. We remain committed to our philosophy and process as our focus on fundamental research has shown to be successful over the long term. | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. | |
Line Graph [Table Text Block] | FUND PERFORMANCE (October 31, 2014 to October 31, 2024) The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund’s performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods. INVESTMENT PERFORMANCE OF $10,000 | |
Average Annual Return [Table Text Block] | Average Annual Total Returns (as of October 31, 2024) 1 Year 5 Year 10 Year First Trust/Confluence Small Cap Value Fund - Class I 19.87 % 2.54 % 5.39 % Russell 2000 ® 31.77 % 8.42 % 7.33 % Russell 2000 ® 34.07 % 8.50 % 7.94 % Russell 3000 ® 37.86 % 14.60 % 12.44 % | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | Visit www.ftportfolios.com/MF/FOVIX for more recent performance information. | |
Net Assets | $ 21,692,431 | |
Holdings Count | Holding | 31 | |
Advisory Fees Paid, Amount | $ 5,067 | |
Investment Company Portfolio Turnover | 17% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (As of Fund net assets $ Total number of portfolio holdings 31 Total advisory fee paid $ Portfolio turnover rate 17 % | |
Holdings [Text Block] | WHAT DID THE FUND INVEST IN? (As of October 31, 2024) The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund. Top Ten Holdings Baldwin Insurance (The) Group, Inc. 5.3 % Hagerty, Inc., Class A 4.7 % Sapiens International Corp., N.V. 4.1 % RBC Bearings, Inc. 3.9 % Gates Industrial Corp. PLC 3.9 % J&J Snack Foods Corp. 3.9 % I3 Verticals, Inc., Class A 3.9 % Hayward Holdings, Inc. 3.9 % Brown & Brown, Inc. 3.8 % John Bean Technologies Corp. 3.7 % Sector Allocation | |
Largest Holdings [Text Block] | Top Ten Holdings Baldwin Insurance (The) Group, Inc. 5.3 % Hagerty, Inc., Class A 4.7 % Sapiens International Corp., N.V. 4.1 % RBC Bearings, Inc. 3.9 % Gates Industrial Corp. PLC 3.9 % J&J Snack Foods Corp. 3.9 % I3 Verticals, Inc., Class A 3.9 % Hayward Holdings, Inc. 3.9 % Brown & Brown, Inc. 3.8 % John Bean Technologies Corp. 3.7 % | |
C000118178 [Member] | | |
Shareholder Report [Line Items] | | |
Fund Name | First Trust Short Duration High Income Fund | |
Class Name | Class A | |
Trading Symbol | FDHAX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the First Trust Short Duration High Income Fund (the “Fund”) for the year of November 1, 2023 to October 31, 2024 (the “Period”). | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at www.ftportfolios.com/fund-documents/MF/FDHAX info ftportfolios.com | |
Additional Information Phone Number | 1-800-621-1675 | |
Additional Information Email | info@ftportfolios.com | |
Additional Information Website | www.ftportfolios.com/fund-documents/MF/FDHAX | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (Based on a hypothetical $10,000 investment) Fund Costs of a $10,000 investment Costs paid as a percentage First Trust Short Duration High Income Fund - Class A $ 1.25 % | |
Expenses Paid, Amount | $ 131 | |
Expense Ratio, Percent | 1.25% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND’S PERFORMANCE? The Fund’s Class A returned 10.31% (without sales charge) for the 12 months ended October 31, 2024. The Fund’s Class A underperformed its blended benchmark, which consists of the following two indexes: 50% of the Morningstar ® ® ® ® The following key factors impacted Fund performance relative to the blended benchmark during the Period: Credit Quality Asset Type: Sector/Industry: U.S. Treasury Rates: Spreads, Yields and Prices: Defaults: ® ® | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. | |
Line Graph [Table Text Block] | FUND PERFORMANCE (October 31, 2014 to October 31, 2024) The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund’s performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods. INVESTMENT PERFORMANCE OF $10,000 | |
Average Annual Return [Table Text Block] | Average Annual Total Returns (as of October 31, 2024) 1 Year 5 Year 10 Year First Trust Short Duration High Income Fund - Class A (w/max 3.50% sales charge) 6.47 % 3.22 % 3.24 % First Trust Short Duration High Income Fund - Class A (without sales charge) 10.31 % 3.96 % 3.60 % Blended Index (1) 13.52 % 5.23 % 4.87 % ICE BofA US High Yield Constrained Index 16.49 % 4.37 % 4.77 % Morningstar ® ® 10.56 % 6.02 % 4.92 % Bloomberg US Aggregate Bond Index 10.55 % (0.23 ) % 1.49 % (1) The Blended Index return is a 50/50 split between the ICE BofA US High Yield Constrained Index and the Morningstar ® ® | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | Visit www.ftportfolios.com/MF/FDHAX for more recent performance information. | |
Net Assets | $ 73,890,945 | |
Holdings Count | Holding | 175 | |
Advisory Fees Paid, Amount | $ 393,401 | |
Investment Company Portfolio Turnover | 64% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (As of Fund net assets $ Total number of portfolio holdings 175 Total advisory fee paid $ Portfolio turnover rate 64 % | |
Holdings [Text Block] | WHAT DID THE FUND INVEST IN? (As of October 31, 2024) The tables below show the investment makeup of the Fund, representing the percentage of net assets and total investments, respectively, of the Fund. Fund Allocation Corporate Bonds and Notes 51.9 % Senior Floating-Rate Loan Interests 31.3 % Foreign Corporate Bonds and Notes 11.2 % Money Market Funds 2.8 % Common Stocks 0.0 % Rights 0.0 % Net Other Assets and Liabilities 2.8 % Credit Quality (1) Any amount shown as 0.0% represents less than 0.1% (1) The ratings are by S&P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are only privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change. | |
Credit Quality Explanation [Text Block] | The ratings are by S&P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are only privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change. | |
Credit Ratings Selection [Text Block] | The ratings are by S&P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are only privately rated. | |
C000121471 [Member] | | |
Shareholder Report [Line Items] | | |
Fund Name | First Trust Short Duration High Income Fund | |
Class Name | Class C | |
Trading Symbol | FDHCX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the First Trust Short Duration High Income Fund (the “Fund”) for the year of November 1, 2023 to October 31, 2024 (the “Period”). | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at www.ftportfolios.com/fund-documents/MF/FDHCX info ftportfolios.com | |
Additional Information Phone Number | 1-800-621-1675 | |
Additional Information Email | info@ftportfolios.com | |
Additional Information Website | www.ftportfolios.com/fund-documents/MF/FDHCX | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (Based on a hypothetical $10,000 investment) Fund Costs of a $10,000 investment Costs paid as a percentage First Trust Short Duration High Income Fund - Class C $ 2.00 % | |
Expenses Paid, Amount | $ 209 | |
Expense Ratio, Percent | 2% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND’S PERFORMANCE? The Fund’s Class C returned 9.45% (without sales charge) for the 12 months ended October 31, 2024. The Fund’s Class C underperformed its blended benchmark, which consists of the following two indexes: 50% of the Morningstar ® ® ® ® The following key factors impacted Fund performance relative to the blended benchmark during the Period: Credit Quality: Asset Type Sector/Industry: U.S. Treasury Rates: Spreads, Yields and Prices: Defaults ® ® | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. | |
Line Graph [Table Text Block] | FUND PERFORMANCE (October 31, 2014 to October 31, 2024) The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund’s performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods. INVESTMENT PERFORMANCE OF $10,000 | |
Average Annual Return [Table Text Block] | Average Annual Total Returns (as of October 31, 2024) 1 Year 5 Year 10 Year First Trust Short Duration High Income Fund - Class C (w/max 1.00% contingent deferred sales charge) 8.45 % 3.17 % 2.83 % First Trust Short Duration High Income Fund - Class C (without sales charge) 9.45 % 3.17 % 2.83 % Blended Index (1) 13.52 % 5.23 % 4.87 % ICE BofA US High Yield Constrained Index 16.49 % 4.37 % 4.77 % Morningstar ® ® 10.56 % 6.02 % 4.92 % Bloomberg US Aggregate Bond Index 10.55 % (0.23 ) % 1.49 % (1) The Blended Index return is a 50/50 split between the ICE BofA US High Yield Constrained Index and the Morningstar ® ® | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | Visit www.ftportfolios.com/MF/FDHCX for more recent performance information. | |
Net Assets | $ 73,890,945 | |
Holdings Count | Holding | 175 | |
Advisory Fees Paid, Amount | $ 393,401 | |
Investment Company Portfolio Turnover | 64% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (As of Fund net assets $ Total number of portfolio holdings 175 Total advisory fee paid $ Portfolio turnover rate 64 % | |
Holdings [Text Block] | WHAT DID THE FUND INVEST IN? (As of October 31, 2024) The tables below show the investment makeup of the Fund, representing the percentage of net assets and total investments, respectively, of the Fund. Fund Allocation Corporate Bonds and Notes 51.9 % Senior Floating-Rate Loan Interests 31.3 % Foreign Corporate Bonds and Notes 11.2 % Money Market Funds 2.8 % Common Stocks 0.0 % Rights 0.0 % Net Other Assets and Liabilities 2.8 % Credit Quality (1) Any amount shown as 0.0% represents less than 0.1% (1) The ratings are by S&P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are only privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change. | |
Credit Quality Explanation [Text Block] | The ratings are by S&P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are only privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change. | |
Credit Ratings Selection [Text Block] | The ratings are by S&P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are only privately rated. | |
C000121472 [Member] | | |
Shareholder Report [Line Items] | | |
Fund Name | First Trust Short Duration High Income Fund | |
Class Name | Class I | |
Trading Symbol | FDHIX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the First Trust Short Duration High Income Fund (the “Fund”) for the year of November 1, 2023 to October 31, 2024 (the “Period”). | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at www.ftportfolios.com/fund-documents/MF/FDHIX info ftportfolios.com | |
Additional Information Phone Number | 1-800-621-1675 | |
Additional Information Email | info@ftportfolios.com | |
Additional Information Website | www.ftportfolios.com/fund-documents/MF/FDHIX | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (Based on a hypothetical $10,000 investment) Fund Costs of a $10,000 investment Costs paid as a percentage First Trust Short Duration High Income Fund - Class I $ 1.00 % | |
Expenses Paid, Amount | $ 105 | |
Expense Ratio, Percent | 1% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND’S PERFORMANCE? The Fund’s Class I returned 10.58% for the 12 months ended October 31, 2024. The Fund’s Class I underperformed its blended benchmark, which consists of the following two indexes: 50% of the Morningstar ® ® ® ® The following key factors impacted Fund performance relative to the blended benchmark during the Period: Credit Quality: Asset Type: Sector/Industry: U.S. Treasury Rates: Spreads, Yields and Prices: Defaults: ® ® | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. | |
Line Graph [Table Text Block] | FUND PERFORMANCE (October 31, 2014 to October 31, 2024) The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund’s performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods. INVESTMENT PERFORMANCE OF $10,000 | |
Average Annual Return [Table Text Block] | Average Annual Total Returns (as of October 31, 2024) 1 Year 5 Year 10 Year First Trust Short Duration High Income Fund - Class I 10.58 % 4.20 % 3.87 % Blended Index (1) 13.52 % 5.23 % 4.87 % ICE BofA US High Yield Constrained Index 16.49 % 4.37 % 4.77 % Morningstar ® ® 10.56 % 6.02 % 4.92 % Bloomberg US Aggregate Bond Index 10.55 % (0.23 ) % 1.49 % (1) The Blended Index return is a 50/50 split between the ICE BofA US High Yield Constrained Index and the Morningstar ® ® | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Updated Performance Information Location [Text Block] | Visit www.ftportfolios.com/MF/FDHIX for more recent performance information. | |
Net Assets | $ 73,890,945 | |
Holdings Count | Holding | 175 | |
Advisory Fees Paid, Amount | $ 393,401 | |
Investment Company Portfolio Turnover | 64% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (As of Fund net assets $ Total number of portfolio holdings 175 Total advisory fee paid $ Portfolio turnover rate 64 % | |
Holdings [Text Block] | WHAT DID THE FUND INVEST IN? (As of October 31, 2024) The tables below show the investment makeup of the Fund, representing the percentage of net assets and total investments, respectively, of the Fund. Fund Allocation Corporate Bonds and Notes 51.9 % Senior Floating-Rate Loan Interests 31.3 % Foreign Corporate Bonds and Notes 11.2 % Money Market Funds 2.8 % Common Stocks 0.0 % Rights 0.0 % Net Other Assets and Liabilities 2.8 % Credit Quality (1) Any amount shown as 0.0% represents less than 0.1% (1) The ratings are by S&P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are only privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change. | |
Credit Quality Explanation [Text Block] | The ratings are by S&P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are only privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change. | |
Credit Ratings Selection [Text Block] | The ratings are by S&P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are only privately rated. | |
C000232961 [Member] | | |
Shareholder Report [Line Items] | | |
Fund Name | First Trust Managed Municipal Fund | |
Class Name | Class I | |
Trading Symbol | CWAIX | |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the First Trust Managed Municipal Fund (the “Fund”) for the year of November 1, 2023 to October 31, 2024 (the “Period”). | |
Shareholder Report Annual or Semi-Annual | annual shareholder report | |
Additional Information [Text Block] | You can find additional information about the Fund at www.ftportfolios.com/fund-documents/MF/CWAIX info ftportfolios.com | |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the Period. | |
Additional Information Phone Number | 1-800-621-1675 | |
Additional Information Email | info@ftportfolios.com | |
Additional Information Website | www.ftportfolios.com/fund-documents/MF/CWAIX | |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE LAST YEAR? (Based on a hypothetical $10,000 investment) Fund Costs of a $10,000 investment Costs paid as a percentage First Trust Managed Municipal Fund - Class I $ 0.56 % | |
Expenses Paid, Amount | $ 59 | |
Expense Ratio, Percent | 0.56% | |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND’S PERFORMANCE? The Fund’s Class I returned 10.38% for the 12 months ended October 31, 2024. The Fund’s Class I outperformed its benchmark, the Bloomberg Municipal Bond 5-15 Year Index, which returned 8.10% for the same Period. The following key factors impacted the Fund’s performance relative to the benchmark during the Period: Credit Rating: Yield Curve Positioning/Duration: Interest Rate Hedge: Sector/Industry: These key factors impacted the Fund’s performance during the Period: U.S. Treasury Rate Trends: Industry Fund Inflows/Outflows: Primary Market Supply: Credits Spreads and Trends: Changes in Municipal Bond Yields: | |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. | |
Line Graph [Table Text Block] | FUND PERFORMANCE (June 15, 2022 to October 31, 2024) The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund’s performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods. INVESTMENT PERFORMANCE OF $10,000 | |
Average Annual Return [Table Text Block] | Average Annual Total Returns (as of October 31, 2024) 1 Year Since First Trust Managed Municipal Fund - Class I 10.38 % 4.17 % Bloomberg Municipal Bond 5-15 Year Index 8.10 % 3.45 % Bloomberg Municipal Bond Index 9.70 % 3.73 % | |
Performance Inception Date | Jun. 15, 2022 | |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. | |
Material Change Date | Jun. 14, 2024 | |
Updated Performance Information Location [Text Block] | Visit www.ftportfolios.com/MF/CWAIX for more recent performance information. | |
Net Assets | $ 75,310,420 | |
Holdings Count | Holding | 141 | |
Advisory Fees Paid, Amount | $ 150,489 | |
Investment Company Portfolio Turnover | 28% | |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (As of Fund net assets $ Total number of portfolio holdings 141 Total advisory fee paid $ Portfolio turnover rate 28 % | |
Holdings [Text Block] | WHAT DID THE FUND INVEST IN? (As of October 31, 2024) The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund. Credit Quality (1) AAA 5.1 AA 34.6 A 29.4 BBB 15.5 BB 2.4 B 0.7 Not Rated 12.3 Sector Allocation (1) The credit quality and ratings information presented above reflect the ratings assigned by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. Sub-investment grade ratings are those rated BB+/Ba1 or lower. Investment grade ratings are those rated BBB-/Baa3 or higher. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change. | |
Credit Quality Explanation [Text Block] | The credit quality and ratings information presented above reflect the ratings assigned by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. Sub-investment grade ratings are those rated BB+/Ba1 or lower. Investment grade ratings are those rated BBB-/Baa3 or higher. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change. | |
Credit Ratings Selection [Text Block] | The credit quality and ratings information presented above reflect the ratings assigned by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings or a comparably rated NRSRO. | |
Material Fund Change [Text Block] | HOW HAS THE FUND MATERIALLY CHANGED? This is a summary of certain changes to the Fund since November 1, 2023. For more complete information, you may review the Fund’s prospectus, and any applicable supplements at www.ftportfolios.com/fund-documents/MF/CWAIX or upon request at 1-800-621-1675 or info ftportfolios.com. Effective June 14, 2024, the investment advisor’s agreement to waive management fees in the amount of 0.15% of the Fund’s average daily net assets was terminated. | |
Material Fund Change Expenses [Text Block] | Effective June 14, 2024, the investment advisor’s agreement to waive management fees in the amount of 0.15% of the Fund’s average daily net assets was terminated. | |
Summary of Change Legend [Text Block] | This is a summary of certain changes to the Fund since November 1, 2023. For more complete information, you may review the Fund’s prospectus, and any applicable supplements at www.ftportfolios.com/fund-documents/MF/CWAIX or upon request at 1-800-621-1675 or info ftportfolios.com. | |
Updated Prospectus Phone Number | 1-800-621-1675 | |
Updated Prospectus Email Address | info@ftportfolios.com | |
Updated Prospectus Web Address | www.ftportfolios.com/fund-documents/MF/CWAIX | |
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[1]The ratio reflects extraordinary legal expenses of 0.01%, which are not included in the expense cap.[2]The ratio reflects extraordinary legal expenses of 0.01%, which are not included in the expense cap.[3]The ratio reflects extraordinary legal expenses of 0.01%, which are not included in the expense cap.[4]The ratio reflects extraordinary legal expenses of 0.01%, which are not included in the expense cap.[5]The ratio reflects extraordinary legal expenses of 0.01%, which are not included in the expense cap. |