deb81199-2f1e-494f-8d24-87b4ec2f9c2f
TSR - First Trust Fund Logo
First Trust Nasdaq Bank ETF
FTXO | NASDAQ, INC.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust Nasdaq Bank ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FTXO. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust Nasdaq Bank ETF $33 0.61%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $249,264,197
Total number of portfolio holdings 51
Portfolio turnover rate 15%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
Citigroup, Inc. 8.3%
JPMorgan Chase & Co. 8.3%
Wells Fargo & Co. 8.1%
Bank of America Corp. 8.1%
Truist Financial Corp. 7.7%
Citizens Financial Group, Inc. 4.0%
U.S. Bancorp 3.9%
M&T Bank Corp. 3.9%
PNC Financial Services Group (The), Inc. 3.8%
First Citizens BancShares, Inc., Class A 3.5%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FTXO to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
Nasdaq® and Nasdaq US Smart BanksTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust Advisors L.P. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
First Trust Nasdaq Bank ETF (FTXO)
TSR - First Trust Fund Logo
First Trust Nasdaq Food & Beverage ETF
FTXG | NASDAQ, INC.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust Nasdaq Food & Beverage ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FTXG. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust Nasdaq Food & Beverage ETF $30 0.62%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $18,217,273
Total number of portfolio holdings 31
Portfolio turnover rate 12%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
Mondelez International, Inc., Class A 8.5%
Archer-Daniels-Midland Co. 7.9%
PepsiCo, Inc. 7.9%
Kraft Heinz (The) Co. 7.7%
Corteva, Inc. 6.5%
Monster Beverage Corp. 4.5%
General Mills, Inc. 4.2%
Hershey (The) Co. 4.2%
Conagra Brands, Inc. 4.0%
Tyson Foods, Inc., Class A 4.0%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FTXG to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
Nasdaq® and Nasdaq US Smart Food & BeverageTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust Advisors L.P. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
First Trust Nasdaq Food & Beverage ETF (FTXG)
TSR - First Trust Fund Logo
First Trust Nasdaq Oil & Gas ETF
FTXN | Nasdaq, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust Nasdaq Oil & Gas ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FTXN. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust Nasdaq Oil & Gas ETF $30 0.62%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $116,668,887
Total number of portfolio holdings 46
Portfolio turnover rate 12%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
Exxon Mobil Corp. 7.9%
Chevron Corp. 7.7%
ConocoPhillips 7.6%
Occidental Petroleum Corp. 7.0%
EOG Resources, Inc. 5.5%
Marathon Petroleum Corp. 4.0%
Devon Energy Corp. 3.9%
Diamondback Energy, Inc. 3.8%
Kinder Morgan, Inc. 3.5%
Schlumberger N.V. 3.5%
Sector Allocation
Graphical Representation - Allocation 2 Chart
Any amount shown as 0.0% represents less than 0.1%.
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FTXN to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
Nasdaq® and Nasdaq US Smart Oil & GasTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust Advisors L.P. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
First Trust Nasdaq Oil & Gas ETF (FTXN)
TSR - First Trust Fund Logo
First Trust Nasdaq Pharmaceuticals ETF
FTXH | Nasdaq, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust Nasdaq Pharmaceuticals ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FTXH. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust Nasdaq Pharmaceuticals ETF $32 0.62%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $15,692,310
Total number of portfolio holdings 51
Portfolio turnover rate 19%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
AbbVie, Inc. 7.8%
Johnson & Johnson 7.4%
Pfizer, Inc. 7.3%
Merck & Co., Inc. 7.1%
Bristol-Myers Squibb Co. 6.8%
Cardinal Health, Inc. 3.8%
Eli Lilly & Co. 3.7%
Biogen, Inc. 3.7%
Vertex Pharmaceuticals, Inc. 3.6%
Gilead Sciences, Inc. 3.5%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FTXH to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
Nasdaq® and Nasdaq US Smart PharmaceuticalsTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust Advisors L.P. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
First Trust Nasdaq Pharmaceuticals ETF (FTXH)
TSR - First Trust Fund Logo
First Trust Nasdaq Semiconductor ETF
FTXL | Nasdaq, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust Nasdaq Semiconductor ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FTXL. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust Nasdaq Semiconductor ETF $38 0.61%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $318,678,074
Total number of portfolio holdings 32
Portfolio turnover rate 20%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
Micron Technology, Inc. 9.7%
Intel Corp. 9.5%
Broadcom, Inc. 7.7%
NVIDIA Corp. 7.4%
QUALCOMM, Inc. 7.2%
Lam Research Corp. 4.6%
Applied Materials, Inc. 4.4%
KLA Corp. 4.3%
Amkor Technology, Inc. 3.8%
Skyworks Solutions, Inc. 3.6%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FTXL to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
Nasdaq® and Nasdaq US Smart SemiconductorTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust Advisors L.P. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
First Trust Nasdaq Semiconductor ETF (FTXL)
TSR - First Trust Fund Logo
First Trust Nasdaq Transportation ETF
FTXR | Nasdaq, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust Nasdaq Transportation ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FTXR. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust Nasdaq Transportation ETF $33 0.61%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $35,049,148
Total number of portfolio holdings 41
Portfolio turnover rate 20%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
Tesla, Inc. 10.4%
Union Pacific Corp. 8.2%
General Motors Co. 8.1%
Ford Motor Co. 7.9%
United Airlines Holdings, Inc. 7.2%
CSX Corp. 4.3%
FedEx Corp. 4.0%
United Rentals, Inc. 3.9%
PACCAR, Inc. 3.8%
United Parcel Service, Inc., Class B 3.7%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FTXR to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
Nasdaq® and Nasdaq US Smart TransportationTM Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust Advisors L.P. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
First Trust Nasdaq Transportation ETF (FTXR)
TSR - First Trust Fund Logo
First Trust S-Network E-Commerce ETF
ISHP | Nasdaq, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust S-Network E-Commerce ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/ISHP. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust S-Network E-Commerce ETF $33 0.61%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $6,286,099
Total number of portfolio holdings 61
Portfolio turnover rate 19%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
Alibaba Group Holding Ltd., ADR 2.7%
Reddit, Inc., Class A 2.5%
Alibaba Health Information Technology Ltd. 2.5%
JD Health International, Inc. 2.5%
Baidu, Inc., ADR 2.4%
Alphabet, Inc., Class A 2.2%
Kuaishou Technology 2.1%
Shopify, Inc., Class A 2.0%
PDD Holdings, Inc., ADR 2.0%
Prosus N.V. 2.0%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/ISHP to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
S-Network and S-Network Global E-Commerce IndexTM (“Index”) are service marks of VettaFi LLC and have been licensed for use by First Trust Advisors L.P. The Fund is not issued, sponsored, endorsed, sold or promoted by VettaFi LLC or its affiliates (collectively, “VettaFi”). VettaFi makes no representation or warranty, express or implied, to the purchasers or owners of the Fund or any member of the public regarding the advisability of investing in securities generally or in the Fund particularly or the ability of the Index to track general market performance.
First Trust S-Network E-Commerce ETF (ISHP)
TSR - First Trust Fund Logo
Emerging Markets Equity Select ETF
RNEM | NASDAQ, INC.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the Emerging Markets Equity Select ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/RNEM. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Emerging Markets Equity Select ETF $40 0.76%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.75%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $16,259,183
Total number of portfolio holdings 279
Portfolio turnover rate 35%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
Tencent Holdings Ltd. 3.7%
United Microelectronics Corp. 3.1%
HDFC Life Insurance Co., Ltd. 3.0%
Reliance Industries Ltd. 2.9%
HDFC Bank Ltd. 2.8%
Maruti Suzuki India Ltd. 2.8%
Synnex Technology International Corp. 2.7%
ICICI Bank Ltd. 2.7%
SBI Cards & Payment Services Ltd. 2.7%
Catcher Technology Co., Ltd. 2.6%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/RNEM to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
Riskalyze and Nasdaq Riskalyze Emerging MarketsTM Index are trademarks or service marks of Nitrogen Wealth, Inc. (“Nitrogen Wealth”) and have been licensed for use for certain purposes by First Trust Advisors L.P. The Fund is not sponsored, endorsed, sold or promoted by Nitrogen Wealth, and Nitrogen Wealth makes no representation regarding the advisability of trading in the Fund. The Nasdaq Riskalyze Emerging MarketsTM Index (“Riskalyze Index”) is a product of Nitrogen Wealth. RISKALYZE® and NASDAQ RISKALYZE EMERGING MARKETSTM INDEX are trademarks of Nitrogen Wealth. Nasdaq® is a trademark of Nasdaq, Inc.
Emerging Markets Equity Select ETF (RNEM)
TSR - First Trust Fund Logo
First Trust S&P 500 Diversified
Dividend Aristocrats ETF
KNGZ | NASDAQ, INC.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust S&P 500 Diversified Dividend Aristocrats ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/KNGZ. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust S&P 500 Diversified Dividend Aristocrats ETF $27 0.51%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.50%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $53,709,155
Total number of portfolio holdings 100
Portfolio turnover rate 19%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
HP, Inc. 4.1%
Corning, Inc. 3.8%
Hewlett Packard Enterprise Co. 3.7%
Texas Instruments, Inc. 3.2%
Verizon Communications, Inc. 3.1%
Microchip Technology, Inc. 3.0%
International Business Machines Corp. 3.0%
QUALCOMM, Inc. 2.8%
Interpublic Group of (The) Cos., Inc. 2.8%
Best Buy Co., Inc. 2.3%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/KNGZ to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
S&P 500® Sector-Neutral Dividend Aristocrats Index (“Index”) is a product of S&P Dow Jones Indices, LLC or its affiliates (“SPDJI”) and has been licensed for use by First Trust Advisors L.P. (“First Trust”). S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by First Trust. The Fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the Index.
First Trust S&P 500 Diversified Dividend Aristocrats ETF (KNGZ)
TSR - First Trust Fund Logo
First Trust SMID Capital Strength ETF
FSCS | Nasdaq, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust SMID Capital Strength ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FSCS. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust SMID Capital Strength ETF $32 0.61%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $49,501,508
Total number of portfolio holdings 101
Portfolio turnover rate 63%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
InterDigital, Inc. 1.5%
C.H. Robinson Worldwide, Inc. 1.3%
Laureate Education, Inc. 1.3%
Grand Canyon Education, Inc. 1.3%
Ensign Group (The), Inc. 1.2%
Gentex Corp. 1.2%
PulteGroup, Inc. 1.2%
Globe Life, Inc. 1.2%
Leidos Holdings, Inc. 1.1%
Donaldson Co., Inc. 1.1%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FSCS to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
Nasdaq® and The SMID Capital Strength Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust Advisors L.P. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
First Trust SMID Capital Strength ETF (FSCS)
TSR - First Trust Fund Logo
First Trust SMID Growth Strength ETF
FSGS | Nasdaq, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust SMID Growth Strength ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FSGS. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust SMID Growth Strength ETF $33 0.61%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $29,662,037
Total number of portfolio holdings 105
Portfolio turnover rate 72%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
Medpace Holdings, Inc. 1.6%
InterDigital, Inc. 1.5%
Comfort Systems USA, Inc. 1.4%
Oscar Health, Inc., Class A 1.3%
Sterling Infrastructure, Inc. 1.3%
HCI Group, Inc. 1.3%
Installed Building Products, Inc. 1.3%
Adtalem Global Education, Inc. 1.3%
Halozyme Therapeutics, Inc. 1.2%
Ensign Group (The), Inc. 1.2%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FSGS to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
Nasdaq® and The SMID Growth Strength Index are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust Advisors L.P. The Fund has not been passed on by the Corporations as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.
First Trust SMID Growth Strength ETF (FSGS)
TSR - First Trust Fund Logo
First Trust S-Network Streaming
& Gaming ETF
BNGE | NYSE ARCA, INC.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust S-Network Streaming & Gaming ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/BNGE. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust S-Network Streaming & Gaming ETF $43 0.72%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.70%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $8,089,279
Total number of portfolio holdings 51
Portfolio turnover rate 12%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
Warner Bros. Discovery, Inc. 6.7%
Tencent Holdings Ltd. 5.4%
Electronic Arts, Inc. 5.3%
ROBLOX Corp., Class A 5.3%
NetEase, Inc. 4.7%
Sony Group Corp. 4.7%
Kuaishou Technology 4.5%
Advanced Micro Devices, Inc. 4.5%
Take-Two Interactive Software, Inc. 4.4%
Nintendo Co., Ltd. 4.0%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/BNGE to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
S-Network and S-Network Streaming & Gaming Index (“Index”) are service marks of VettaFi LLC and have been licensed for use by First Trust Advisors L.P. The Fund is not issued, sponsored, endorsed, sold or promoted by VettaFi LLC or its affiliates (collectively, “VettaFi”). VettaFi makes no representation or warranty, express or implied, to the purchasers or owners of the Fund or any member of the public regarding the advisability of investing in securities generally or in the Fund particularly or the ability of the Index to track general market performance.
First Trust S-Network Streaming & Gaming ETF (BNGE)
TSR - First Trust Fund Logo
First Trust Balanced Income ETF
FTBI | NYSE Arca, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust Balanced Income ETF (the “Fund”) for the period of May 28, 2025 (commencement of investment operations) to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FTBI. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust Balanced Income ETF $9(1) (2) 0.25%(1) (3)
​(1)
Excludes any Acquired Fund Fees and Expenses of underlying investment companies in which the Fund invests.
​(2)
The Fund commenced investment operations on May 28, 2025.  Had the Fund been in operation for a complete fiscal year, the cost of a $10,000 investment would have been higher.
​(3)
Annualized.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $8,502,110
Total number of portfolio holdings 14
Portfolio turnover rate 10%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
First Trust BuyWrite Income ETF 20.1%
First Trust Nasdaq BuyWrite Income ETF 10.2%
FT Vest Technology Dividend Target Income ETF 10.2%
First Trust Core Investment Grade ETF 6.9%
First Trust Smith Opportunistic Fixed Income ETF 6.9%
FT Vest Rising Dividend Achievers Target Income ETF 6.7%
FT Vest SMID Rising Dividend Achievers Target Income ETF 6.6%
FT Vest S&P 500® Dividend Aristocrats Target Income ETF® 6.4%
FT Vest Gold Strategy Target Income ETF® 5.3%
First Trust Intermediate Duration Investment Grade Corporate ETF 4.3%
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FTBI to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
“Bloomberg®” and Bloomberg Moderate Allocation Income Focus Index referenced herein (the “Indices” and each such index, an “Index”) are trademarks or service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited, the administrator of the Indices (collectively, “Bloomberg”) and/or one or more third-party providers (each such provider, a “Third-Party Provider”), and have been licensed for use for certain purposes to First Trust Advisors L.P. (the “Licensee”). Bloomberg is not affiliated with the Licensee or a Third-Party Provider, and Bloomberg does not approve, endorse, review, or recommend the financial products referenced herein (the “Financial Products”). Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Indices or the Financial Products.
First Trust Balanced Income ETF (FTBI)
TSR - First Trust Fund Logo
First Trust Bloomberg Shareholder
Yield ETF
SHRY | Nasdaq, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust Bloomberg Shareholder Yield ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/SHRY. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust Bloomberg Shareholder Yield ETF $32 0.62%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $17,171,045
Total number of portfolio holdings 51
Portfolio turnover rate 73%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
CF Industries Holdings, Inc. 4.8%
NVR, Inc. 4.6%
Altria Group, Inc. 3.8%
MetLife, Inc. 3.3%
Kimberly-Clark Corp. 3.3%
Merck & Co., Inc. 3.1%
Schlumberger N.V. 3.1%
Comcast Corp., Class A 3.1%
Hartford Insurance Group (The), Inc. 2.9%
Lowe’s Cos., Inc. 2.9%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/SHRY to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
“Bloomberg®” and Bloomberg Shareholder Yield Index referenced herein (the “Indices” and each such index, an “Index”) are trademarks or service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited, the administrator of the Indices (collectively, “Bloomberg”) and/or one or more third-party providers (each such provider, a “Third-Party Provider”), and have been licensed for use for certain purposes to First Trust Advisors L.P. (the “Licensee”). Bloomberg is not affiliated with the Licensee or a Third-Party Provider, and Bloomberg does not approve, endorse, review, or recommend the financial products referenced herein (the “Financial Products”). Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Indices or the Financial Products.
First Trust Bloomberg Shareholder Yield ETF (SHRY)
TSR - First Trust Fund Logo
First Trust Indxx Medical Devices ETF
MDEV | Cboe BZX Exchange, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust Indxx Medical Devices ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/MDEV. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust Indxx Medical Devices ETF $35 0.71%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.70%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $2,000,731
Total number of portfolio holdings 51
Portfolio turnover rate 8%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
WuXi AppTec Co., Ltd., Class H 4.3%
Hoya Corp. 2.7%
Smith & Nephew PLC 2.7%
ResMed, Inc. 2.4%
West Pharmaceutical Services, Inc. 2.4%
Agilent Technologies, Inc. 2.4%
Exact Sciences Corp. 2.3%
Insulet Corp. 2.3%
Mettler-Toledo International, Inc. 2.3%
Bio-Rad Laboratories, Inc., Class A 2.2%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/MDEV to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
Indxx and Indxx Medical Devices Index (“Index”) are trademarks of Indxx, Inc. (“Indxx”) and have been licensed for use for certain purposes by First Trust Advisors L.P. (“First Trust”). The Fund is not sponsored, endorsed, sold or promoted by Indxx, and Indxx makes no representation regarding the advisability of trading in such product. The Index is determined, composed and calculated by Indxx without regard to First Trust or the Fund.
First Trust Indxx Medical Devices ETF (MDEV)
TSR - First Trust Fund Logo
First Trust Bloomberg R&D Leaders ETF
RND | NYSE Arca, Inc.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust Bloomberg R&D Leaders ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/RND. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust Bloomberg R&D Leaders ETF $35 0.61%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $2,962,969
Total number of portfolio holdings 50
Portfolio turnover rate 27%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
Alphabet, Inc., Class A 10.0%
Apple, Inc. 9.0%
NVIDIA Corp. 8.5%
Microsoft Corp. 7.5%
Amazon.com, Inc. 7.2%
Tesla, Inc. 5.1%
Broadcom, Inc. 4.3%
Meta Platforms, Inc., Class A 3.6%
Eli Lilly & Co. 3.5%
AppLovin Corp., Class A 2.7%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/RND to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
“Bloomberg®” and Bloomberg R&D Leaders Select Index referenced herein (the “Indices” and each such index, an “Index”) are trademarks or service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited, the administrator of the Indices (collectively, “Bloomberg”) and/or one or more third-party providers (each such provider, a “Third-Party Provider”), and have been licensed for use for certain purposes to First Trust Advisors L.P. (the “Licensee”). Bloomberg is not affiliated with the Licensee or a Third-Party Provider, and Bloomberg does not approve, endorse, review, or recommend the financial products referenced herein (the “Financial Products”). Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Indices or the Financial Products.
First Trust Bloomberg R&D Leaders ETF (RND)
TSR - First Trust Fund Logo
First Trust New Constructs Core Earnings Leaders ETF
FTCE | NYSE ARCA, INC.
SEMI-ANNUAL SHAREHOLDER REPORT | September 30, 2025
This semi-annual shareholder report contains important information about the First Trust New Constructs Core Earnings Leaders ETF (the “Fund”) for the period of April 1, 2025 to September 30, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FTCE. You can also request this information by contacting us at 1-800-621-1675 or [email protected].
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
First Trust New Constructs Core Earnings Leaders ETF $34 0.61%(1) (2)
​(1)
Annualized.
​(2)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
KEY FUND STATISTICS (As of September 30, 2025)
Fund net assets $51,659,072
Total number of portfolio holdings 99
Portfolio turnover rate 54%
WHAT DID THE FUND INVEST IN? (As of September 30, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.
Top Ten Holdings
AppLovin Corp., Class A 7.0%
Apple, Inc. 5.1%
General Motors Co. 5.0%
NVIDIA Corp. 4.9%
International Business Machines Corp. 3.9%
Yum! Brands, Inc. 3.6%
Spotify Technology S.A. 3.5%
Eli Lilly & Co. 3.2%
Visa, Inc., Class A 2.9%
Arista Networks, Inc. 2.6%
Sector Allocation
Graphical Representation - Allocation 2 Chart
WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FTCE to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or [email protected].
OTHER INFORMATION
“Bloomberg®” and Bloomberg New Constructs Core Earnings Leaders Index referenced herein (the “Indices” and each such index, an “Index”) are trademarks or service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited, the administrator of the Indices (collectively, “Bloomberg”) and/or one or more third-party providers (each such provider, a “Third-Party Provider”), and have been licensed for use for certain purposes to First Trust Advisors L.P. (the “Licensee”). Bloomberg is not affiliated with the Licensee or a Third-Party Provider, and Bloomberg does not approve, endorse, review, or recommend the financial products referenced herein (the “Financial Products”). Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Indices or the Financial Products.
First Trust New Constructs Core Earnings Leaders ETF (FTCE)
 
 

(b)       Not applicable.

Item 2. Code of Ethics.

The First Trust Exchange-Traded Fund VI (“Registrant”) has adopted a code of ethics that applies to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions (“Code of Ethics”). During the period covered by this Form N-CSR, there were no substantive amendments to the Code of Ethics and there were no waivers from the Code of Ethics granted to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions.

A copy of the currently effective Code of Ethics will be filed with the Registrant’s annual Form N-CSR.

Item 3. Audit Committee Financial Expert.

Not applicable to semi-annual reports on Form N-CSR.

Item 4. Principal Accountant Fees and Services.

Not applicable to semi-annual reports on Form N-CSR.

Item 5. Audit Committee of Listed Registrants.

(a) Not applicable to semi-annual reports on Form N-CSR.

(b) Not applicable to the Registrant.

Item 6. Investments.

(a) The Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included in the Financial Statements and Other Information filed under Item 7 of this Form N-CSR.
(b) Not applicable to the Registrant.

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

(a) Following is a copy of the semi-annual financial statement(s) required, and for the periods specified, by Regulation S-X.

 

 
 
 
Semi-Annual Financial
Statements and
Other Information
For the Period Ended
September 30, 2025
 
First Trust Exchange-Traded Fund VI
 
First Trust Nasdaq Bank ETF (FTXO)
First Trust Nasdaq Food & Beverage ETF (FTXG)
First Trust Nasdaq Oil & Gas ETF (FTXN)
First Trust Nasdaq Pharmaceuticals ETF (FTXH)
First Trust Nasdaq Semiconductor ETF (FTXL)
First Trust Nasdaq Transportation ETF (FTXR)
First Trust S-Network E-Commerce ETF (ISHP)
Emerging Markets Equity Select ETF (RNEM)
First Trust S&P 500 Diversified Dividend Aristocrats ETF
(KNGZ)
First Trust SMID Capital Strength ETF (FSCS)
First Trust SMID Growth Strength ETF (FSGS)
First Trust S-Network Streaming & Gaming ETF (BNGE)
First Trust Balanced Income ETF (FTBI)
Table of Contents 
First Trust Exchange-Traded Fund VI
Semi-Annual Financial Statements and Other Information
September 30, 2025 
1
2
3
5
6
7
9
11
18
21
24
28
31
32
36
40
46
59
72
Performance and Risk Disclosure
There is no assurance that any series of First Trust Exchange-Traded Fund VI (the “Trust”) described in this report (each such series is referred to as a “Fund” and collectively, as the “Funds”) will achieve its investment objective. Each Fund is subject to market risk, which is the possibility that the market values of securities owned by the Fund will decline and that the value of the Fund’s shares may therefore be less than what you paid for them. Accordingly, you can lose money by investing in a Fund.
Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. For the most recent month-end performance figures, please visit www.ftportfolios.com or speak with your financial advisor. Investment returns, net asset value and share price will fluctuate and Fund shares, when sold, may be worth more or less than their original cost.
First Trust Advisors L.P., the Funds’ advisor, may also periodically provide additional information on Fund performance on each Fund’s webpage at www.ftportfolios.com.
How to Read This Report
This report contains information that may help you evaluate your investment. It includes details about each Fund and presents data that provides insight into each Fund’s performance and investment approach.
The material risks of investing in each Fund are spelled out in its prospectus, statement of additional information, and other Fund regulatory filings.
First Trust Nasdaq Bank ETF (FTXO)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS — 99.7%
Banks — 99.2%
22,922
Ameris Bancorp
$1,680,412
13,746
Axos Financial, Inc. (a)
1,163,599
9,429
BancFirst Corp.
1,192,297
16,445
Bancorp (The), Inc. (a)
1,231,566
388,553
Bank of America Corp.
20,045,449
45,795
Bank OZK
2,334,629
22,298
BOK Financial Corp.
2,484,889
64,267
Cadence Bank
2,412,583
25,529
Cathay General Bancorp
1,225,647
204,154
Citigroup, Inc.
20,721,631
188,554
Citizens Financial Group, Inc.
10,023,531
85,604
Columbia Banking System, Inc.
2,203,447
39,007
Comerica, Inc.
2,672,760
23,926
Commerce Bancshares, Inc.
1,429,818
13,024
Cullen/Frost Bankers, Inc.
1,651,053
32,889
East West Bancorp, Inc.
3,501,034
171,475
Fifth Third Bancorp
7,639,211
56,401
First BanCorp
1,243,642
4,818
First Citizens BancShares, Inc.,
Class A
8,620,173
33,732
First Financial Bankshares, Inc.
1,135,082
166,218
First Horizon Corp.
3,758,189
169,062
FNB Corp.
2,723,589
29,372
Hancock Whitney Corp.
1,838,981
59,594
Home BancShares, Inc.
1,686,510
446,255
Huntington Bancshares, Inc.
7,706,824
17,526
International Bancshares Corp.
1,204,913
65,408
JPMorgan Chase & Co.
20,631,645
48,882
M&T Bank Corp.
9,660,061
119,511
Old National Bancorp
2,623,266
28,622
Pinnacle Financial Partners, Inc.
2,684,457
47,520
PNC Financial Services Group
(The), Inc.
9,548,194
19,924
Popular, Inc.
2,530,547
48,177
Prosperity Bancshares, Inc.
3,196,544
264,230
Regions Financial Corp.
6,967,745
14,224
ServisFirst Bancshares, Inc.
1,145,459
25,841
SouthState Bank Corp.
2,554,900
40,839
Synovus Financial Corp.
2,004,378
421,085
Truist Financial Corp.
19,252,006
201,876
U.S. Bancorp
9,756,667
12,733
UMB Financial Corp.
1,506,951
58,311
United Bankshares, Inc.
2,169,752
44,826
United Community Banks, Inc.
1,405,295
303,092
Valley National Bancorp
3,212,775
63,680
Webster Financial Corp.
3,785,139
239,903
Wells Fargo & Co.
20,108,669
32,059
Western Alliance Bancorp
2,780,157
19,345
Wintrust Financial Corp.
2,562,052
Shares
Description
Value
 
Banks (Continued)
21,510
WSFS Financial Corp.
$1,160,034
46,757
Zions Bancorp N.A.
2,645,511
 
247,423,663
Consumer Finance — 0.5%
5,880
Dave, Inc. (a)
1,172,178
Total Common Stocks
248,595,841
(Cost $215,366,157)
MONEY MARKET FUNDS — 0.1%
267,006
Dreyfus Government Cash
Management Fund,
Institutional Shares -
4.04% (b)
267,006
(Cost $267,006)
Total Investments — 99.8%
248,862,847
(Cost $215,633,163)
Net Other Assets and
Liabilities — 0.2%
401,350
Net Assets — 100.0%
$249,264,197
 
(a)
Non-income producing security.
(b)
Rate shown reflects yield as of September 30, 2025.
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 248,595,841
$ 248,595,841
$ —
$ —
Money Market Funds
     267,006
     267,006
 —
 —
Total Investments
$248,862,847
$248,862,847
$—
$—
 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 1
First Trust Nasdaq Food & Beverage ETF (FTXG)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS — 99.7%
Beverages — 26.9%
9,120
Brown-Forman Corp., Class B
$246,970
1,650
Celsius Holdings, Inc. (a)
94,858
7,383
Coca-Cola (The) Co.
489,640
3,461
Coca-Cola Consolidated, Inc.
405,491
25,998
Keurig Dr Pepper, Inc.
663,209
14,979
Molson Coors Beverage Co.,
Class B
677,800
12,118
Monster Beverage Corp. (a)
815,663
2,337
National Beverage Corp. (a)
86,282
10,175
PepsiCo, Inc.
1,428,977
 
4,908,890
Chemicals — 6.5%
17,502
Corteva, Inc.
1,183,660
Consumer Staples Distribution
& Retail — 3.1%
7,470
US Foods Holding Corp. (a)
572,352
Food Products — 62.7%
24,147
Archer-Daniels-Midland Co.
1,442,542
5,488
Bunge Global S.A.
445,900
5,049
Cal-Maine Foods, Inc.
475,111
39,533
Conagra Brands, Inc.
723,849
15,331
General Mills, Inc.
772,989
4,116
Hershey (The) Co.
769,898
18,157
Hormel Foods Corp.
449,204
4,207
Ingredion, Inc.
513,717
5,220
J.M. Smucker (The) Co.
566,892
54,077
Kraft Heinz (The) Co.
1,408,165
6,973
Lamb Weston Holdings, Inc.
404,992
664
Marzetti (The) Company
114,732
5,049
McCormick & Co., Inc.
337,829
24,618
Mondelez International, Inc.,
Class A
1,537,886
3,611
Post Holdings, Inc. (a)
388,110
67
Seaboard Corp.
244,349
2,360
Tootsie Roll Industries, Inc.
98,931
13,319
Tyson Foods, Inc., Class A
723,222
 
11,418,318
Personal Care Products —
0.5%
2,312
BellRing Brands, Inc. (a)
84,041
Total Common Stocks
18,167,261
(Cost $22,390,068)
Shares
Description
Value
MONEY MARKET FUNDS — 0.2%
27,558
Dreyfus Government Cash
Management Fund,
Institutional Shares -
4.04% (b)
$27,558
(Cost $27,558)
Total Investments — 99.9%
18,194,819
(Cost $22,417,626)
Net Other Assets and
Liabilities — 0.1%
22,454
Net Assets — 100.0%
$18,217,273
 
(a)
Non-income producing security.
(b)
Rate shown reflects yield as of September 30, 2025.
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 18,167,261
$ 18,167,261
$ —
$ —
Money Market Funds
     27,558
     27,558
 —
 —
Total Investments
$18,194,819
$18,194,819
$—
$—
 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 2
First Trust Nasdaq Oil & Gas ETF (FTXN)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS — 99.8%
Energy Equipment & Services
— 10.5%
23,811
Archrock, Inc.
$626,467
48,959
Baker Hughes Co.
2,385,283
107,133
Halliburton Co.
2,635,472
62,726
NOV, Inc.
831,120
118,412
Schlumberger N.V.
4,069,820
9,793
Tidewater, Inc. (a)
522,261
11,869
Valaris Ltd. (a)
578,851
9,254
Weatherford International PLC
633,251
 
12,282,525
Oil, Gas & Consumable Fuels
— 89.3%
33,139
Antero Midstream Corp.
644,222
136,656
APA Corp.
3,318,008
11,867
California Resources Corp.
631,087
13,979
Cheniere Energy, Inc.
3,284,785
57,817
Chevron Corp.
8,978,402
49,516
Civitas Resources, Inc.
1,609,270
93,821
ConocoPhillips
8,874,528
95,505
Coterra Energy, Inc.
2,258,693
128,392
Devon Energy Corp.
4,501,423
31,210
Diamondback Energy, Inc.
4,466,151
7,962
DT Midstream, Inc.
900,184
56,985
EOG Resources, Inc.
6,389,158
55,695
EQT Corp.
3,031,479
22,166
Expand Energy Corp.
2,354,916
81,245
Exxon Mobil Corp.
9,160,374
14,086
HF Sinclair Corp.
737,261
145,574
Kinder Morgan, Inc.
4,121,200
23,696
Magnolia Oil & Gas Corp.,
Class A
565,624
24,100
Marathon Petroleum Corp.
4,645,034
32,506
Matador Resources Co.
1,460,495
54,996
NextDecade Corp. (a)
373,423
37,406
Northern Oil & Gas, Inc.
927,669
172,862
Occidental Petroleum Corp.
8,167,729
47,439
ONEOK, Inc.
3,461,624
62,194
Ovintiv, Inc.
2,511,394
176,329
Permian Resources Corp.
2,257,011
17,167
Phillips 66
2,335,055
21,729
Range Resources Corp.
817,880
49,286
SM Energy Co.
1,230,671
14,750
Targa Resources Corp.
2,471,215
631
Texas Pacific Land Corp.
589,127
18,726
Valero Energy Corp.
3,188,289
61,909
Williams (The) Cos., Inc.
3,921,935
 
104,185,316
Total Common Stocks
116,467,841
(Cost $121,436,293)
Shares
Description
Value
MONEY MARKET FUNDS — 0.2%
154,716
Dreyfus Government Cash
Management Fund,
Institutional Shares -
4.04% (b)
$154,716
(Cost $154,716)
 
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 0.0%
$147
Bank of America Corp.,
4.20% (b), dated 09/30/25,
due 10/01/25, with a maturity
value of $147. Collateralized
by U.S. Treasury Securities,
interest rates of 0.00% to
4.63%, due 11/15/41 to
05/15/54. The value of the
collateral including accrued
interest is $150. (c)
147
213
JPMorgan Chase & Co.,
4.20% (b), dated 09/30/25,
due 10/01/25, with a maturity
value of $213. Collateralized
by U.S. Treasury Securities,
interest rates of 4.13% to
4.50%, due 12/31/31 to
05/31/32. The value of the
collateral including accrued
interest is $217. (c)
213
See Notes to Financial Statements
Page 3
First Trust Nasdaq Oil & Gas ETF (FTXN)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Principal
Value
Description
Value
REPURCHASE AGREEMENTS (Continued)
$130
Mizuho Financial Group, Inc.,
4.20% (b), dated 09/30/25,
due 10/01/25, with a maturity
value of $130. Collateralized
by U.S. Treasury Securities,
interest rates of 0.75% to
4.38%, due 05/31/26 to
09/30/32. The value of the
collateral including accrued
interest is $133. (c)
$130
231
RBC Dominion Securities, Inc.,
4.19% (b), dated 09/30/25,
due 10/01/25, with a maturity
value of $231. Collateralized
by U.S. Treasury Securities,
interest rates of 0.00% to
4.75%, due 10/23/25 to
08/15/55. The value of the
collateral including accrued
interest is $236. (c)
231
Total Repurchase Agreements
721
(Cost $721)
Total Investments — 100.0%
116,623,278
(Cost $121,591,730)
Net Other Assets and
Liabilities — 0.0%
45,609
Net Assets — 100.0%
$116,668,887
 
(a)
Non-income producing security.
(b)
Rate shown reflects yield as of September 30, 2025.
(c)
This security serves as collateral for securities on loan.
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 116,467,841
$ 116,467,841
$  —
$ —
Money Market Funds
     154,716
     154,716
  —
 —
Repurchase
Agreements
         721
          —
 721
 —
Total Investments
$116,623,278
$116,622,557
$721
$—
 
*
See Portfolio of Investments for industry breakout.
The Fund’s investments in repurchase agreements were all subject to an enforceable Master Repurchase Agreement. Repurchase Agreements on a gross basis were as follows:
 
Repurchase Agreements
Total gross amount presented on the Statements
of Assets and Liabilities(1)
$721
Non-cash Collateral(2)
(721
)
Net Amount
$—
 
(1)
The amount is included in “Investments, at value” on the
Statements of Assets and Liabilities.
(2)
At September 30, 2025, the value of the collateral received
from each seller exceeded the value of the repurchase
agreements.
See Notes to Financial Statements
Page 4
First Trust Nasdaq Pharmaceuticals ETF (FTXH)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS — 99.9%
Biotechnology — 45.2%
5,306
AbbVie, Inc.
$1,228,551
2,923
ACADIA Pharmaceuticals,
Inc. (a)
62,377
4,402
ADMA Biologics, Inc. (a)
64,533
4,715
Alkermes PLC (a)
141,450
170
Alnylam Pharmaceuticals,
Inc. (a)
77,520
1,940
Amgen, Inc.
547,468
3,449
Arrowhead Pharmaceuticals,
Inc. (a)
118,956
4,145
Biogen, Inc. (a)
580,632
3,262
BioMarin Pharmaceutical,
Inc. (a)
176,670
1,468
Bridgebio Pharma, Inc. (a)
76,248
3,795
Catalyst Pharmaceuticals,
Inc. (a)
74,762
5,561
Exelixis, Inc. (a)
229,669
4,941
Gilead Sciences, Inc.
548,451
2,124
Halozyme Therapeutics, Inc. (a)
155,774
2,824
Incyte Corp. (a)
239,504
558
Insmed, Inc. (a)
80,358
1,782
Ionis Pharmaceuticals, Inc. (a)
116,578
514
Krystal Biotech, Inc. (a)
90,736
174
Madrigal Pharmaceuticals,
Inc. (a)
79,807
1,029
Mirum Pharmaceuticals, Inc. (a)
75,436
869
Neurocrine Biosciences, Inc. (a)
121,990
3,159
Newamsterdam Pharma Co.
N.V. (a)
89,842
1,287
Protagonist Therapeutics, Inc. (a)
85,495
3,987
PTC Therapeutics, Inc. (a)
244,682
961
Regeneron Pharmaceuticals, Inc.
540,342
737
Rhythm Pharmaceuticals, Inc. (a)
74,430
2,591
TG Therapeutics, Inc. (a)
93,600
1,249
United Therapeutics Corp. (a)
523,593
1,427
Vertex Pharmaceuticals, Inc. (a)
558,870
 
7,098,324
Health Care Providers &
Services — 4.2%
3,752
Cardinal Health, Inc.
588,914
1,127
Guardant Health, Inc. (a)
70,415
 
659,329
Life Sciences Tools & Services
— 4.8%
1,369
Charles River Laboratories
International, Inc. (a)
214,194
2,781
Illumina, Inc. (a)
264,112
372
Medpace Holdings, Inc. (a)
191,267
1,002
Tempus AI, Inc. (a)
80,871
 
750,444
Shares
Description
Value
 
Pharmaceuticals — 45.7%
10,419
Amneal Pharmaceuticals, Inc. (a)
$104,294
23,661
Bristol-Myers Squibb Co.
1,067,111
1,090
Corcept Therapeutics, Inc. (a)
90,590
8,644
Elanco Animal Health, Inc. (a)
174,090
762
Eli Lilly & Co.
581,406
2,625
Jazz Pharmaceuticals PLC (a)
345,975
6,301
Johnson & Johnson
1,168,332
470
Ligand Pharmaceuticals, Inc. (a)
83,256
13,271
Merck & Co., Inc.
1,113,835
4,148
Perrigo Co. PLC
92,376
45,086
Pfizer, Inc.
1,148,791
1,188
Prestige Consumer Healthcare,
Inc. (a)
74,131
1,684
Supernus Pharmaceuticals,
Inc. (a)
80,478
52,906
Viatris, Inc.
523,770
3,569
Zoetis, Inc.
522,216
 
7,170,651
Total Common Stocks
15,678,748
(Cost $16,631,392)
MONEY MARKET FUNDS — 0.1%
10,947
Dreyfus Government Cash
Management Fund,
Institutional Shares -
4.04% (b)
10,947
(Cost $10,947)
Total Investments — 100.0%
15,689,695
(Cost $16,642,339)
Net Other Assets and
Liabilities — 0.0%
2,615
Net Assets — 100.0%
$15,692,310
 
(a)
Non-income producing security.
(b)
Rate shown reflects yield as of September 30, 2025.
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 15,678,748
$ 15,678,748
$ —
$ —
Money Market Funds
     10,947
     10,947
 —
 —
Total Investments
$15,689,695
$15,689,695
$—
$—
 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 5
First Trust Nasdaq Semiconductor ETF (FTXL)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS — 99.8%
Electronic Equipment,
Instruments & Components
— 4.8%
10,596
Advanced Energy Industries,
Inc.
$1,802,803
139,242
Avnet, Inc.
7,279,572
57,631
Coherent Corp. (a)
6,208,011
 
15,290,386
Semiconductors &
Semiconductor Equipment
— 95.0%
67,840
Advanced Micro Devices,
Inc. (a)
10,975,834
421,372
Amkor Technology, Inc.
11,966,965
43,902
Analog Devices, Inc.
10,786,721
68,629
Applied Materials, Inc.
14,051,102
7,691
Astera Labs, Inc. (a)
1,505,898
17,507
Axcelis Technologies, Inc. (a)
1,709,384
74,198
Broadcom, Inc.
24,478,662
37,410
Cirrus Logic, Inc. (a)
4,687,099
11,387
Credo Technology Group
Holding Ltd. (a)
1,658,061
7,475
Impinj, Inc. (a)
1,351,106
906,189
Intel Corp. (a)
30,402,641
12,652
KLA Corp.
13,646,447
110,163
Lam Research Corp.
14,750,826
21,110
Lattice Semiconductor Corp. (a)
1,547,785
104,369
Microchip Technology, Inc.
6,702,577
185,410
Micron Technology, Inc.
31,022,801
8,480
Monolithic Power Systems, Inc.
7,807,027
126,683
NVIDIA Corp.
23,636,514
46,978
NXP Semiconductors N.V.
10,698,300
222,482
ON Semiconductor Corp. (a)
10,970,587
24,911
Onto Innovation, Inc. (a)
3,218,999
70,285
Qorvo, Inc. (a)
6,401,558
137,285
QUALCOMM, Inc.
22,838,733
36,109
Rambus, Inc. (a)
3,762,558
24,123
Semtech Corp. (a)
1,723,588
147,222
Skyworks Solutions, Inc.
11,333,150
66,064
Teradyne, Inc.
9,093,049
54,489
Texas Instruments, Inc.
10,011,264
 
302,739,236
Total Common Stocks
318,029,622
(Cost $253,839,197)
Shares
Description
Value
MONEY MARKET FUNDS — 0.2%
716,149
Dreyfus Government Cash
Management Fund,
Institutional Shares -
4.04% (b)
$716,149
(Cost $716,149)
Total Investments — 100.0%
318,745,771
(Cost $254,555,346)
Net Other Assets and
Liabilities — (0.0)%
(67,697
)
Net Assets — 100.0%
$318,678,074
 
(a)
Non-income producing security.
(b)
Rate shown reflects yield as of September 30, 2025.
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 318,029,622
$ 318,029,622
$ —
$ —
Money Market Funds
     716,149
     716,149
 —
 —
Total Investments
$318,745,771
$318,745,771
$—
$—
 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 6
First Trust Nasdaq Transportation ETF (FTXR)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS — 99.9%
Air Freight & Logistics —
10.2%
2,369
C.H. Robinson Worldwide, Inc.
$313,656
3,194
Expeditors International of
Washington, Inc.
391,552
5,913
FedEx Corp.
1,394,344
3,449
GXO Logistics, Inc. (a)
182,418
15,625
United Parcel Service, Inc.,
Class B
1,305,156
 
3,587,126
Automobile Components —
6.3%
18,428
BorgWarner, Inc.
810,095
8,596
Dana, Inc.
172,264
1,071
Dorman Products, Inc. (a)
166,947
14,410
Garrett Motion, Inc.
196,264
8,874
Gentex Corp.
251,134
4,237
Lear Corp.
426,285
1,644
Visteon Corp.
197,050
 
2,220,039
Automobiles — 26.4%
232,160
Ford Motor Co.
2,776,634
46,638
General Motors Co.
2,843,519
8,184
Tesla, Inc. (a)
3,639,588
 
9,259,741
Distributors — 2.2%
2,646
Genuine Parts Co.
366,735
13,466
LKQ Corp.
411,252
 
777,987
Ground Transportation —
20.7%
42,026
CSX Corp.
1,492,343
4,671
J.B. Hunt Transport Services,
Inc.
626,708
4,599
Old Dominion Freight Line, Inc.
647,447
6,484
Ryder System, Inc.
1,223,142
12,222
Union Pacific Corp.
2,888,914
2,854
XPO, Inc. (a)
368,937
 
7,247,491
Machinery — 9.1%
4,336
Allison Transmission Holdings,
Inc.
368,039
1,409
Federal Signal Corp.
167,657
2,654
Oshkosh Corp.
344,224
13,665
PACCAR, Inc.
1,343,543
3,257
REV Group, Inc.
184,574
3,908
Westinghouse Air Brake
Technologies Corp.
783,437
 
3,191,474
Shares
Description
Value
 
Marine Transportation —
0.8%
2,728
Matson, Inc.
$268,954
Passenger Airlines — 18.8%
10,803
Alaska Air Group, Inc. (a)
537,773
102,188
American Airlines Group,
Inc. (a)
1,148,593
22,115
Delta Air Lines, Inc.
1,255,026
3,062
SkyWest, Inc. (a)
308,099
25,895
Southwest Airlines Co.
826,310
26,024
United Airlines Holdings,
Inc. (a)
2,511,316
 
6,587,117
Specialty Retail — 0.5%
4,469
Valvoline, Inc. (a)
160,482
Trading Companies &
Distributors — 4.9%
1,126
FTAI Aviation Ltd.
187,884
1,426
McGrath RentCorp
167,270
1,429
United Rentals, Inc.
1,364,209
 
1,719,363
Total Common Stocks
35,019,774
(Cost $30,862,290)
MONEY MARKET FUNDS — 0.1%
30,755
Dreyfus Government Cash
Management Fund,
Institutional Shares -
4.04% (b)
30,755
(Cost $30,755)
Total Investments — 100.0%
35,050,529
(Cost $30,893,045)
Net Other Assets and
Liabilities — (0.0)%
(1,381
)
Net Assets — 100.0%
$35,049,148
 
(a)
Non-income producing security.
(b)
Rate shown reflects yield as of September 30, 2025.
See Notes to Financial Statements
Page 7
First Trust Nasdaq Transportation ETF (FTXR)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 35,019,774
$ 35,019,774
$ —
$ —
Money Market Funds
     30,755
     30,755
 —
 —
Total Investments
$35,050,529
$35,050,529
$—
$—
 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 8
First Trust S-Network E-Commerce ETF (ISHP)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS (a) — 99.7%
Air Freight & Logistics —
4.4%
2,121
DHL Group (EUR)
$94,477
416
FedEx Corp.
98,097
966
United Parcel Service, Inc.,
Class B
80,690
 
273,264
Broadline Retail — 21.9%
932
Alibaba Group Holding Ltd.,
ADR
166,576
10,395
Allegro.eu S.A. (PLN) (b) (c) (d)
101,801
447
Amazon.com, Inc. (c)
98,148
3,264
Coupang, Inc. (c)
105,101
1,287
eBay, Inc.
117,053
3,184
JD.com, Inc., ADR
111,376
41
MercadoLibre, Inc. (c)
95,815
323
Naspers Ltd., Class N (ZAR)
116,981
600
Next PLC (GBP)
99,859
947
PDD Holdings, Inc., ADR (c)
125,165
1,769
Prosus N.V. (EUR)
124,489
18,000
Rakuten Group, Inc. (JPY) (c)
116,835
 
1,379,199
Commercial Services &
Supplies — 1.5%
2,071
Copart, Inc. (c)
93,133
Consumer Staples Distribution
& Retail — 6.7%
183,000
Alibaba Health Information
Technology Ltd. (HKD) (c)
156,616
18,267
JD Health International, Inc.
(HKD) (b) (c) (d)
156,099
1,048
Walmart, Inc.
108,007
 
420,722
Financial Services — 8.3%
56
Adyen N.V. (EUR) (b) (c) (d)
89,744
296
Corpay, Inc. (c)
85,266
1,239
Fidelity National Information
Services, Inc.
81,700
586
Fiserv, Inc. (c)
75,553
1,224
Global Payments, Inc.
101,690
1,313
PayPal Holdings, Inc. (c)
88,050
 
522,003
Ground Transportation —
1.6%
1,031
Uber Technologies, Inc. (c)
101,007
Hotels, Restaurants & Leisure
— 9.8%
725
Airbnb, Inc., Class A (c)
88,030
17
Booking Holdings, Inc.
91,788
417
DoorDash, Inc., Class A (c)
113,420
Shares
Description
Value
 
Hotels, Restaurants & Leisure
(Continued)
543
Expedia Group, Inc.
$116,066
6,605
Meituan, Class B
(HKD) (b) (c) (d)
88,695
1,606
Trip.com Group Ltd., ADR
120,771
 
618,770
Industrial REITs — 1.7%
917
Prologis, Inc.
105,015
Interactive Media & Services
— 24.0%
560
Alphabet, Inc., Class A
136,136
8,940
Auto Trader Group PLC
(GBP) (b) (d)
94,769
1,124
Baidu, Inc., ADR (c)
148,110
4,107
CAR Group Ltd. (AUD)
99,953
12,100
Kuaishou Technology
(HKD) (b) (d)
131,543
27,300
LY Corp. (JPY)
87,889
137
Meta Platforms, Inc., Class A
100,610
525
NAVER Corp. (KRW)
100,469
2,776
Pinterest, Inc., Class A (c)
89,304
647
REA Group Ltd. (AUD)
98,921
695
Reddit, Inc., Class A (c)
159,843
9,364
Rightmove PLC (GBP)
89,239
710
Scout24 SE (EUR) (b) (d)
88,859
10,641
Snap, Inc., Class A (c)
82,042
 
1,507,687
IT Services — 2.0%
863
Shopify, Inc., Class A (c)
128,250
Marine Transportation —
4.3%
51
A.P. Moller - Maersk A/S,
Class B (DKK)
99,986
56,825
COSCO SHIPPING Holdings
Co., Ltd., Class H (HKD)
88,429
5,517
HMM Co., Ltd. (KRW)
78,839
 
267,254
Real Estate Management &
Development — 4.6%
1,155
CoStar Group, Inc. (c)
97,447
5,110
KE Holdings, Inc., ADR
97,090
1,260
Zillow Group, Inc., Class C (c)
97,083
 
291,620
Specialty Retail — 6.2%
1,348
Best Buy Co., Inc.
101,936
1,485
CarMax, Inc. (c)
66,632
288
Carvana Co. (c)
108,645
563
Williams-Sonoma, Inc.
110,038
 
387,251
See Notes to Financial Statements
Page 9
First Trust S-Network E-Commerce ETF (ISHP)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Shares
Description
Value
COMMON STOCKS (a) (Continued)
Textiles, Apparel & Luxury
Goods — 1.2%
417
Lululemon Athletica, Inc. (c)
$74,197
Wireless Telecommunication
Services — 1.5%
27,154
Taiwan Mobile Co., Ltd. (TWD)
97,112
Total Common Stocks
6,266,484
(Cost $5,639,809)
MONEY MARKET FUNDS — 0.1%
9,927
Dreyfus Government Cash
Management Fund,
Institutional Shares -
4.04% (e)
9,927
(Cost $9,927)
Total Investments — 99.8%
6,276,411
(Cost $5,649,736)
Net Other Assets and
Liabilities — 0.2%
9,688
Net Assets — 100.0%
$6,286,099
 
(a)
Securities are issued in U.S. dollars unless otherwise
indicated in the security description.
(b)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (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.
(c)
Non-income producing security.
(d)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
(e)
Rate shown reflects yield as of September 30, 2025.
 
Abbreviations throughout the Portfolio of Investments:
ADR
–  American Depositary Receipt
AUD
–  Australian Dollar
DKK
–  Danish Krone
EUR
–  Euro
GBP
–  British Pound Sterling
HKD
–  Hong Kong Dollar
JPY
–  Japanese Yen
KRW
–  South Korean Won
PLN
–  Polish Zloty
REITs
–  Real Estate Investment Trusts
TWD
–  New Taiwan Dollar
USD
–  United States Dollar
ZAR
–  South African Rand
 
Currency Exposure Diversification
% of Total
Investments
USD
63.3%
HKD
9.9
EUR
6.3
GBP
4.5
JPY
3.3
AUD
3.2
KRW
2.9
ZAR
1.9
PLN
1.6
DKK
1.6
TWD
1.5
Total
100.0%
 
Country Allocation†
% of Net
Assets
United States
49.0%
Cayman Islands
18.2
United Kingdom
4.5
Netherlands
3.4
Japan
3.3
Australia
3.2
Germany
2.9
South Korea
2.8
Bermuda
2.5
Canada
2.0
South Africa
1.9
Luxembourg
1.6
Denmark
1.6
Taiwan
1.5
China
1.4
Total Investments
99.8
Net Other Assets and Liabilities
0.2
Total
100.0%
 
†
Portfolio securities are categorized based upon their country of
incorporation, which can be different from the country
categorization of the Fund’s underlying index.
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 6,266,484
$ 6,266,484
$ —
$ —
Money Market Funds
     9,927
     9,927
 —
 —
Total Investments
$6,276,411
$6,276,411
$—
$—
 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 10
Emerging Markets Equity Select ETF (RNEM)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS (a) (b) — 100.1%
Bermuda — 0.4%
224
Credicorp Ltd.
$59,647
Brazil — 8.5%
32,334
Ambev S.A. (BRL)
73,450
33,293
Banco Bradesco S.A. (Preference
Shares) (BRL)
110,659
14,964
Banco do Brasil S.A. (BRL)
62,108
15,787
Banco Santander Brasil S.A.
(BRL)
87,207
10,467
BB Seguridade Participacoes
S.A. (BRL)
65,411
2,286
Centrais Eletricas Brasileiras
S.A. (BRL)
22,558
914
Cia de Saneamento Basico do
Estado de Sao Paulo SABESP
(BRL)
22,698
9,087
Cia Energetica de Minas Gerais
(Preference Shares) (BRL)
19,037
8,956
Cia Paranaense de Energia -
Copel, Class B (Preference
Shares) (BRL)
21,674
2,331
Energisa S.A. (BRL)
22,275
7,881
Eneva S.A. (BRL) (c)
24,507
2,415
Engie Brasil Energia S.A. (BRL)
18,468
2,913
Equatorial Energia S.A. (BRL)
20,224
13,430
Itau Unibanco Holding S.A.
(Preference Shares) (BRL)
98,588
44,638
Itausa S.A. (Preference Shares)
(BRL)
96,199
17,932
Klabin S.A. (BRL)
60,781
16,603
Motiva Infraestrutura de
Mobilidade S.A. (BRL)
46,419
31,922
Petroleo Brasileiro S.A. -
Petrobras (Preference Shares)
(BRL)
188,692
10,546
Porto Seguro S.A. (BRL)
98,797
11,915
Rumo S.A. (BRL)
35,752
6,321
Suzano S.A. (BRL)
59,264
2,284
Telefonica Brasil S.A. (BRL)
14,621
3,161
TIM S.A. (BRL)
13,957
5,901
Vale S.A. (BRL)
63,841
4,268
WEG S.A. (BRL)
29,342
 
1,376,529
Cayman Islands — 4.7%
18,000
Hengan International Group Co.,
Ltd. (HKD)
58,751
7,100
Tencent Holdings Ltd. (HKD)
604,900
30,000
Tingyi Cayman Islands Holding
Corp. (HKD)
40,170
3,450
ZTO Express Cayman, Inc.
(HKD)
65,392
 
769,213
Shares
Description
Value
 
Chile — 0.9%
178,596
Banco de Chile (CLP)
$27,119
414,994
Banco Santander Chile (CLP)
27,487
2,772
Cencosud S.A. (CLP)
7,886
1,130
Cia Cervecerias Unidas S.A.
(CLP)
6,944
1,338
Empresas Copec S.A. (CLP)
9,797
3,800
Falabella S.A. (CLP)
22,529
1,007,300
Latam Airlines Group S.A.
(CLP)
22,893
632
Sociedad Quimica y Minera de
Chile S.A., Class B
(Preference Shares) (CLP) (c)
27,270
 
151,925
China — 12.0%
176,214
Agricultural Bank of China Ltd.,
Class H (HKD)
118,881
175,930
Bank of China Ltd., Class H
(HKD)
96,308
119,094
Bank of Communications Co.,
Ltd., Class H (HKD)
99,934
70,000
CGN Power Co., Ltd., Class H
(HKD) (d) (e)
25,996
135,159
China CITIC Bank Corp., Ltd.,
Class H (HKD)
116,194
37,000
China Coal Energy Co., Ltd.,
Class H (HKD)
44,170
120,027
China Construction Bank Corp.,
Class H (HKD)
115,370
260,000
China Everbright Bank Co., Ltd.,
Class H (HKD)
108,251
236,000
China Minsheng Banking Corp.,
Ltd., Class H (HKD)
124,642
71,821
China Petroleum & Chemical
Corp., Class H (HKD)
37,378
9,436
China Shenhua Energy Co., Ltd.,
Class H (HKD)
45,107
280,700
China Tower Corp., Ltd.,
Class H (HKD) (d) (e)
414,091
9,398
Fuyao Glass Industry Group Co.,
Ltd., Class H (HKD) (d) (e)
94,560
38,000
Huaneng Power International,
Inc., Class H (HKD)
26,466
148,566
Industrial & Commercial Bank
of China Ltd., Class H (HKD)
109,583
17,453
Inner Mongolia Yitai Coal Co.,
Ltd., Class B (c) (f)
33,440
46,000
PetroChina Co., Ltd., Class H
(HKD)
41,851
56,752
PICC Property & Casualty Co.,
Ltd., Class H (HKD)
128,061
See Notes to Financial Statements
Page 11
Emerging Markets Equity Select ETF (RNEM)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Shares
Description
Value
COMMON STOCKS (a) (b) (Continued)
China (Continued)
172,000
Postal Savings Bank of China
Co., Ltd., Class H
(HKD) (d) (e)
$120,679
21,600
Sinopharm Group Co., Ltd.,
Class H (HKD)
50,905
 
1,951,867
Colombia — 0.1%
1,732
Grupo Cibest S.A. (Preference
Shares) (COP)
22,557
Czech Republic — 0.3%
536
CEZ A/S (CZK)
33,269
364
Komercni Banka A/S (CZK)
18,240
 
51,509
Hong Kong — 0.9%
248,000
China Resources Pharmaceutical
Group Ltd. (HKD) (d) (e)
153,288
Hungary — 0.5%
800
OTP Bank Nyrt (HUF)
69,094
433
Richter Gedeon Nyrt (HUF)
13,179
 
82,273
India — 36.3%
1,332
Apollo Hospitals Enterprise Ltd.
(INR)
111,149
9,589
Asian Paints Ltd. (INR)
253,795
10,434
Bharti Airtel Ltd. (INR)
220,740
1,118
Britannia Industries Ltd. (INR)
75,437
10,901
Dabur India Ltd. (INR)
60,319
7,704
Dr. Reddy’s Laboratories Ltd.
(INR)
106,178
8,595
Grasim Industries Ltd. (INR)
266,876
12,129
HCL Technologies Ltd. (INR)
189,212
42,752
HDFC Bank Ltd. (INR)
457,909
56,850
HDFC Life Insurance Co., Ltd.
(INR) (d) (e)
484,343
2,444
Hindustan Unilever Ltd. (INR)
69,211
28,911
ICICI Bank Ltd. (INR)
438,930
12,298
Infosys Ltd. (INR)
199,702
13,475
ITC Ltd. (INR)
60,941
2,509
Maruti Suzuki India Ltd. (INR)
452,949
257
MRF Ltd. (INR)
422,077
4,906
Nestle India Ltd. (INR)
63,703
22,051
Pidilite Industries Ltd. (INR)
364,583
30,572
Reliance Industries Ltd. (INR)
469,656
44,243
SBI Cards & Payment Services
Ltd. (INR)
436,980
736
Shree Cement Ltd. (INR)
242,587
5,082
Sun Pharmaceutical Industries
Ltd. (INR)
91,253
5,356
Tata Consultancy Services Ltd.
(INR)
174,237
Shares
Description
Value
 
India (Continued)
5,511
Tata Consumer Products Ltd.
(INR)
$70,094
2,731
Torrent Pharmaceuticals Ltd.
(INR)
110,829
 
5,893,690
Indonesia — 1.8%
70,778
Alamtri Resources Indonesia
Tbk PT (IDR)
7,178
67,213
Astra International Tbk PT
(IDR)
23,292
97,153
Bank Central Asia Tbk PT (IDR)
44,452
158,808
Bank Mandiri Persero Tbk PT
(IDR)
41,929
194,765
Bank Negara Indonesia Persero
Tbk PT (IDR)
47,917
203,902
Bank Rakyat Indonesia Persero
Tbk PT (IDR)
47,718
274,859
Bumi Resources Minerals Tbk
PT (IDR) (c)
13,854
2,954,087
GoTo Gojek Tokopedia Tbk PT
(IDR) (c)
9,572
63,814
Merdeka Copper Gold Tbk PT
(IDR) (c)
8,080
37,399
Petrosea Tbk PT (IDR)
15,204
157,890
Telkom Indonesia Persero Tbk
PT (IDR)
28,991
3,875
United Tractors Tbk PT (IDR)
6,226
 
294,413
Luxembourg — 0.1%
1,295
Allegro.eu S.A. (PLN) (c) (d) (e)
12,682
Malaysia — 1.8%
20,700
AMMB Holdings Bhd (MYR)
27,790
16,600
CIMB Group Holdings Bhd
(MYR)
28,952
10,700
Dialog Group Bhd (MYR)
4,805
15,500
Gamuda Bhd (MYR)
20,367
11,600
Genting Bhd (MYR)
8,049
22,600
Genting Malaysia Bhd (MYR)
11,277
12,000
Hartalega Holdings Bhd (MYR)
3,336
3,300
IHH Healthcare Bhd (MYR)
5,920
8,500
KPJ Healthcare Bhd (MYR)
5,554
11,500
Malayan Banking Bhd (MYR)
27,080
18,800
Press Metal Aluminium
Holdings Bhd (MYR)
26,401
26,200
Public Bank Bhd (MYR)
26,956
17,000
RHB Bank Bhd (MYR)
26,660
9,700
Sunway Bhd (MYR)
13,023
7,000
Telekom Malaysia Bhd (MYR)
11,776
3,800
Tenaga Nasional Bhd (MYR)
11,937
27,900
Top Glove Corp. Bhd (MYR) (c)
3,845
See Notes to Financial Statements
Page 12
Emerging Markets Equity Select ETF (RNEM)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Shares
Description
Value
COMMON STOCKS (a) (b) (Continued)
Malaysia (Continued)
25,800
YTL Corp. Bhd (MYR)
$17,043
15,500
YTL Power International Bhd
(MYR)
15,506
 
296,277
Mexico — 4.5%
27,045
Alfa S.A.B. de C.V., Class A
(MXN)
21,679
88,153
America Movil S.A.B. de C.V.,
Series B (MXN)
92,276
2,408
Arca Continental S.A.B. de C.V.
(MXN)
25,248
14,734
Banco del Bajio S.A.
(MXN) (d) (e)
37,106
37,394
Cemex S.A.B. de C.V.,
Series CPO (MXN)
33,487
2,754
Coca-Cola Femsa S.A.B. de
C.V. (MXN)
22,850
3,879
Corp Inmobiliaria Vesta S.A.B.
de C.V. (MXN)
10,980
7,597
Fibra Uno Administracion S.A.
de C.V. (MXN)
11,196
2,646
Fomento Economico Mexicano
S.A.B. de C.V., Series UBD
(MXN)
26,092
1,394
Gruma S.A.B. de C.V., Class B
(MXN)
25,879
2,147
Grupo Aeroportuario del Centro
Norte S.A.B. de C.V. (MXN)
27,783
1,141
Grupo Aeroportuario del
Pacifico S.A.B. de C.V.,
Class B (MXN)
26,971
771
Grupo Aeroportuario del Sureste
S.A.B. de C.V., Class B
(MXN)
24,898
9,260
Grupo Bimbo S.A.B. de C.V.,
Series A (MXN)
32,887
4,615
Grupo Financiero Banorte
S.A.B. de C.V., Class O
(MXN)
46,489
6,321
Grupo Mexico S.A.B. de C.V.,
Series B (MXN)
55,128
1,703
Industrias Penoles S.A.B. de
C.V. (MXN) (c)
76,114
15,356
Kimberly-Clark de Mexico
S.A.B. de C.V., Class A
(MXN)
32,484
2,774
Prologis Property Mexico S.A.
de C.V. (MXN)
11,357
Shares
Description
Value
 
Mexico (Continued)
3,684
Qualitas Controladora S.A.B. de
C.V. (MXN)
$33,685
18,489
Wal-Mart de Mexico S.A.B. de
C.V. (MXN)
57,112
 
731,701
Morocco — 0.2%
314
Attijariwafa Bank (MAD)
25,715
Netherlands — 0.2%
1,097
NEPI Rockcastle N.V. (ZAR)
8,784
2,720
Pepco Group N.V. (PLN) (e)
19,383
247
X5 Retail Group N.V.,
GDR (c) (e) (f) (g) (h)
0
 
28,167
Philippines — 0.8%
109,110
Ayala Land, Inc. (PHP)
45,650
11,190
Bank of the Philippine Islands
(PHP)
22,111
9,741
BDO Unibank, Inc. (PHP)
22,244
5,650
International Container Terminal
Services, Inc. (PHP)
45,782
 
135,787
Poland — 1.6%
694
Alior Bank S.A. (PLN)
19,590
473
Bank Polska Kasa Opieki S.A.
(PLN)
22,735
27
Budimex S.A. (PLN)
3,783
173
CCC S.A. (PLN) (c)
8,648
191
CD Projekt S.A. (PLN)
14,215
2,310
Dino Polska S.A.
(PLN) (c) (d) (e)
27,805
379
KGHM Polska Miedz S.A.
(PLN) (c)
16,684
2
LPP S.A. (PLN)
9,729
103
mBank S.A. (PLN) (c)
25,504
1,696
ORLEN S.A. (PLN)
40,372
2,831
PGE Polska Grupa Energetyczna
S.A. (PLN) (c)
8,365
1,106
Powszechna Kasa Oszczednosci
Bank Polski S.A. (PLN)
21,447
1,485
Powszechny Zaklad
Ubezpieczen S.A. (PLN)
22,210
150
Santander Bank Polska S.A.
(PLN)
19,512
 
260,599
Russia — 0.0%
7,696
Alrosa PJSC
(RUB) (c) (f) (g) (h)
0
40,399
Credit Bank of Moscow PJSC
(RUB) (c) (f) (g) (h)
0
4,700
GMK Norilskiy Nickel PAO
(RUB) (c) (f) (g) (h)
0
See Notes to Financial Statements
Page 13
Emerging Markets Equity Select ETF (RNEM)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Shares
Description
Value
COMMON STOCKS (a) (b) (Continued)
Russia (Continued)
172,018
Inter RAO UES PJSC
(RUB) (c) (f) (g) (h)
$0
96
Magnit PJSC
(RUB) (c) (f) (g) (h)
0
15,021
Magnitogorsk Iron & Steel
Works PJSC
(RUB) (c) (f) (g) (h)
0
2,140
Mobile TeleSystems PJSC
(RUB) (c) (f) (g) (h)
0
1,668
Moscow Exchange MICEX-RTS
PJSC (RUB) (c) (f) (g) (h)
0
4,741
Novolipetsk Steel PJSC
(RUB) (c) (f) (g) (h)
0
850
Polyus PJSC
(RUB) (c) (f) (g) (h)
0
676
Severstal PAO
(RUB) (c) (f) (g) (h)
0
10,776
Sistema AFK PAO
(RUB) (c) (f) (g) (h)
0
3,253
Tatneft PJSC
(RUB) (c) (f) (g) (h)
0
 
0
South Africa — 4.0%
2,831
Absa Group Ltd. (ZAR)
29,685
993
Aspen Pharmacare Holdings Ltd.
(ZAR) (c)
5,570
622
Bid Corp., Ltd. (ZAR)
15,568
700
Bidvest Group Ltd. (ZAR)
8,586
162
Capitec Bank Holdings Ltd.
(ZAR)
32,587
807
Clicks Group Ltd. (ZAR)
16,469
2,512
Discovery Ltd. (ZAR)
28,654
464
Exxaro Resources Ltd. (ZAR)
4,841
6,975
FirstRand Ltd. (ZAR)
31,365
1,040
Foschini Group Ltd. (ZAR)
6,571
11,225
Growthpoint Properties Ltd.
(ZAR)
9,574
584
Mr Price Group Ltd. (ZAR)
6,888
4,842
MTN Group Ltd. (ZAR)
40,654
498
Naspers Ltd., Class N (ZAR)
180,361
1,948
Nedbank Group Ltd. (ZAR)
24,082
42,110
Old Mutual Ltd. (ZAR)
32,552
7,190
OUTsurance Group Ltd. (ZAR)
29,851
5,066
Pepkor Holdings Ltd.
(ZAR) (d) (e)
7,131
3,176
Remgro Ltd. (ZAR)
30,846
6,056
Sanlam Ltd. (ZAR)
29,312
1,003
Shoprite Holdings Ltd. (ZAR)
15,914
2,093
Standard Bank Group Ltd.
(ZAR)
28,649
Shares
Description
Value
 
South Africa (Continued)
1,023
Tiger Brands Ltd. (ZAR)
$18,290
2,536
Woolworths Holdings Ltd.
(ZAR)
7,385
 
641,385
Taiwan — 16.7%
117,902
Asia Cement Corp. (TWD)
147,581
72,281
Catcher Technology Co., Ltd.
(TWD)
432,813
87,454
Chang Hwa Commercial Bank
Ltd. (TWD)
56,384
134,670
China Steel Corp. (TWD)
85,721
13,168
Chunghwa Telecom Co., Ltd.
(TWD)
57,679
37,475
CTBC Financial Holding Co.,
Ltd. (TWD)
52,749
51,937
E.Sun Financial Holding Co.,
Ltd. (TWD)
56,831
18,392
Far EasTone
Telecommunications Co., Ltd.
(TWD)
53,345
56,020
First Financial Holding Co., Ltd.
(TWD)
54,866
17,765
Fubon Financial Holding Co.,
Ltd. (TWD)
51,468
53,711
Hua Nan Financial Holdings Co.,
Ltd. (TWD)
52,164
87,065
KGI Financial Holding Co., Ltd.
(TWD)
42,707
37,052
Mega Financial Holding Co.,
Ltd. (TWD)
51,667
4,270
President Chain Store Corp.
(TWD)
34,745
32,853
Shanghai Commercial & Savings
Bank (The) Ltd. (TWD)
45,327
68,703
SinoPac Financial Holdings Co.,
Ltd. (TWD)
56,354
212,086
Synnex Technology International
Corp. (TWD)
439,787
107,335
Taiwan Business Bank (TWD)
55,467
63,315
Taiwan Cooperative Financial
Holding Co., Ltd. (TWD)
51,208
14,524
Taiwan Mobile Co., Ltd. (TWD)
51,943
171,795
TCC Group Holdings Co., Ltd.
(TWD)
135,280
85,953
TS Financial Holding Co., Ltd.
(TWD)
50,763
13,314
Uni-President Enterprises Corp.
(TWD)
34,248
339,148
United Microelectronics Corp.
(TWD)
506,864
45,523
Yuanta Financial Holding Co.,
Ltd. (TWD)
52,053
 
2,710,014
See Notes to Financial Statements
Page 14
Emerging Markets Equity Select ETF (RNEM)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Shares
Description
Value
COMMON STOCKS (a) (b) (Continued)
Thailand — 2.6%
3,600
Advanced Info Service PCL
(THB)
$32,328
10,800
Airports of Thailand PCL (THB)
13,498
3,000
Bangkok Bank PCL (THB)
13,794
31,300
Bangkok Dusit Medical Services
PCL (THB)
19,801
75,700
Bangkok Expressway & Metro
PCL (THB)
12,031
4,100
Bumrungrad Hospital PCL
(THB)
22,205
12,400
Central Pattana PCL (THB)
21,429
24,600
Charoen Pokphand Foods PCL
(THB)
16,929
11,800
CP ALL PCL (THB)
17,206
14,972
Gulf Development PCL
(THB) (c)
20,098
54,400
Home Product Center PCL
(THB)
12,507
2,800
Kasikornbank PCL (THB)
14,473
18,200
Krung Thai Bank PCL (THB)
13,929
9,600
Krungthai Card PCL (THB)
8,887
17,800
Minor International PCL (THB)
12,689
12,000
Muangthai Capital PCL (THB)
14,998
5,100
PTT Exploration & Production
PCL (THB)
18,178
50,700
PTT Oil & Retail Business PCL
(THB) (d) (e)
22,217
18,700
PTT PCL (THB)
19,187
3,600
SCB X PCL (THB)
14,275
2,600
Siam Cement (The) PCL (THB)
18,454
45,400
Thai Beverage PCL (SGD)
16,366
4,400
Tisco Financial Group PCL
(THB)
13,850
223,700
TMBThanachart Bank PCL
(THB)
13,116
84,300
True Corp. PCL (THB) (c)
27,055
 
429,500
Turkey — 1.2%
6,501
Akbank T.A.S. (TRY)
9,804
16,213
Anadolu Efes Biracilik Ve Malt
Sanayii A/S (TRY)
5,393
2,006
Arcelik A/S (TRY) (c)
6,103
1,916
Aselsan Elektronik Sanayi Ve
Ticaret A/S (TRY)
9,908
2,022
Astor Transformator Enerji
Turizm Insaat Ve Petrol
Sanayi Ticaret A/S (TRY)
4,747
591
BIM Birlesik Magazalar A/S
(TRY)
7,690
5,069
Coca-Cola Icecek A/S (TRY)
5,608
Shares
Description
Value
 
Turkey (Continued)
3,610
Enka Insaat ve Sanayi A/S
(TRY)
$6,113
10,151
Eregli Demir ve Celik
Fabrikalari T.A.S. (TRY)
7,178
2,597
Ford Otomotiv Sanayi A/S
(TRY)
6,187
869
Gubre Fabrikalari T.A.S.
(TRY) (c)
5,962
4,042
Haci Omer Sabanci Holding A/S
(TRY)
8,438
3,078
KOC Holding A/S (TRY)
12,800
547
Migros Ticaret A/S (TRY)
5,854
7,548
Oyak Cimento Fabrikalari A/S
(TRY) (i)
3,845
1,067
Pegasus Hava Tasimaciligi A/S
(TRY) (c)
5,556
949
TAV Havalimanlari Holding A/S
(TRY) (c)
5,478
1,534
Tofas Turk Otomobil Fabrikasi
A/S (TRY)
9,565
884
Turk Hava Yollari AO (TRY)
6,697
3,945
Turkcell Iletisim Hizmetleri A/S
(TRY)
9,284
27,707
Turkiye Is Bankasi A/S, Class C
(TRY)
9,430
3,650
Turkiye Petrol Rafinerileri A/S
(TRY)
16,373
5,955
Turkiye Sise ve Cam Fabrikalari
A/S (TRY)
5,345
14,178
Turkiye Vakiflar Bankasi TAO,
Class D (TRY) (c)
8,730
14,130
Yapi ve Kredi Bankasi A/S
(TRY) (c)
11,534
 
193,622
Total Common Stocks
16,272,360
(Cost $14,504,530)
WARRANTS (a) (b) — 0.0%
Malaysia — 0.0%
5,200
YTL Corp. Bhd, expiring
6/2/2028, (MYR) (c) (f) (g)
1,582
3,120
YTL Power International Bhd,
expiring 06/02/28, (MYR)
(c) (f) (g)
1,305
Total Warrants
2,887
(Cost $0)
See Notes to Financial Statements
Page 15
Emerging Markets Equity Select ETF (RNEM)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.6%
95,861
Dreyfus Government Cash
Management Fund,
Institutional Shares - 4.04% (j)
$95,861
(Cost $95,861)
Total Investments — 100.7%
16,371,108
(Cost $14,600,391)
Net Other Assets and
Liabilities — (0.7)%
(111,925
)
Net Assets — 100.0%
$16,259,183
 
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index.
(b)
Securities are issued in U.S. dollars unless otherwise
indicated in the security description.
(c)
Non-income producing security.
(d)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (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.
(e)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
(f)
Pursuant to procedures adopted by the Trust’s Board of
Trustees, this security has been determined to be illiquid by
First Trust Advisors L.P., the Fund’s advisor.
(g)
This security is fair valued by the Advisor’s Pricing
Committee in accordance with procedures approved by the
Trust’s Board of Trustees, and in accordance with provisions
of the Investment Company Act of 1940 and rules
thereunder, as amended. At September 30, 2025, securities
noted as such are valued at $2,887 or 0.0% of net assets.
(h)
This security’s value was determined using significant
unobservable inputs (see Note 2A - Portfolio Valuation in the
Notes to Financial Statements).
(i)
Non-income producing security which makes payment-in-
kind distributions.
(j)
Rate shown reflects yield as of September 30, 2025.
 
Abbreviations throughout the Portfolio of Investments:
BRL
–  Brazilian Real
CLP
–  Chilean Peso
COP
–  Colombian Peso
CZK
–  Czech Koruna
GDR
–  Global Depositary Receipt
HKD
–  Hong Kong Dollar
HUF
–  Hungarian Forint
IDR
–  Indonesian Rupiah
INR
–  Indian Rupee
MAD
–  Moroccan Dirham
MXN
–  Mexican Peso
MYR
–  Malaysian Ringgit
PHP
–  Philippine Peso
PLN
–  Polish Zloty
RUB
–  Russian Ruble
SGD
–  Singapore Dollar
THB
–  Thai Baht
TRY
–  Turkish Lira
TWD
–  New Taiwan Dollar
USD
–  United States Dollar
ZAR
–  South African Rand
 
Currency Exposure Diversification
% of Total
Investments
INR
36.0%
HKD
17.3
TWD
16.6
BRL
8.4
MXN
4.5
ZAR
4.0
THB
2.5
MYR
1.8
IDR
1.8
PLN
1.8
TRY
1.2
USD
1.2
CLP
0.9
PHP
0.8
HUF
0.5
CZK
0.3
MAD
0.2
COP
0.1
SGD
0.1
RUB
0.0‡
Total
100.0%
 
‡
Investments are valued at $0.
See Notes to Financial Statements
Page 16
Emerging Markets Equity Select ETF (RNEM)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks:
Netherlands
$     28,167
$     28,167
$      —
$  —**
Russia
         —**
         —
      —
  —**
Thailand
    429,500
     16,366
 413,134
  —
Other Country
Categories*
 15,814,693
 15,814,693
      —
  —
Warrants*
      2,887
         —
   2,887
  —
Money Market Funds
     95,861
     95,861
      —
  —
Total Investments
$16,371,108
$15,955,087
$416,021
 $—**
 
*
See Portfolio of Investments for country breakout.
**
Investments are valued at $0.
Level 3 investments are fair valued by the Advisor’s Pricing Committee and are footnoted in the Portfolio of Investments. All Level 3 values are based on unobservable inputs.
See Notes to Financial Statements
Page 17
First Trust S&P 500 Diversified Dividend Aristocrats ETF (KNGZ)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS — 99.7%
Aerospace & Defense — 1.5%
660
General Dynamics Corp.
$225,060
706
L3Harris Technologies, Inc.
215,620
683
Lockheed Martin Corp.
340,960
 
781,640
Air Freight & Logistics —
1.6%
2,524
C.H. Robinson Worldwide, Inc.
334,178
6,386
United Parcel Service, Inc.,
Class B
533,422
 
867,600
Banks — 4.6%
6,389
Bank of America Corp.
329,608
11,858
Fifth Third Bancorp
528,274
31,274
Huntington Bancshares, Inc.
540,102
2,022
M&T Bank Corp.
399,588
13,499
U.S. Bancorp
652,407
 
2,449,979
Biotechnology — 1.1%
2,504
AbbVie, Inc.
579,776
Building Products — 0.4%
2,826
A.O. Smith Corp.
207,457
Capital Markets — 4.1%
30,541
Franklin Resources, Inc.
706,413
2,585
Northern Trust Corp.
347,941
3,624
State Street Corp.
420,420
6,885
T. Rowe Price Group, Inc.
706,677
 
2,181,451
Chemicals — 1.0%
559
Air Products and Chemicals, Inc.
152,451
1,522
CF Industries Holdings, Inc.
136,523
3,765
Eastman Chemical Co.
237,383
 
526,357
Containers & Packaging —
0.6%
37,224
Amcor PLC
304,492
Distributors — 1.9%
4,937
Genuine Parts Co.
684,268
1,018
Pool Corp.
315,651
 
999,919
Diversified Telecommunication
Services — 3.1%
37,910
Verizon Communications, Inc.
1,666,145
Electric Utilities — 2.4%
1,543
American Electric Power Co.,
Inc.
173,588
1,387
Duke Energy Corp.
171,641
5,851
Edison International
323,443
2,604
Evergy, Inc.
197,956
Shares
Description
Value
 
Electric Utilities (Continued)
3,341
Eversource Energy
$237,679
2,043
Pinnacle West Capital Corp.
183,175
 
1,287,482
Electronic Equipment,
Instruments & Components
— 6.8%
3,965
Amphenol Corp., Class A
490,669
24,665
Corning, Inc.
2,023,270
5,221
TE Connectivity PLC
1,146,166
 
3,660,105
Food Products — 3.3%
5,070
Archer-Daniels-Midland Co.
302,882
11,310
Campbell’s (The) Co.
357,170
25,796
Conagra Brands, Inc.
472,324
6,729
General Mills, Inc.
339,276
2,948
J.M. Smucker (The) Co.
320,153
 
1,791,805
Ground Transportation —
0.9%
765
Norfolk Southern Corp.
229,813
1,064
Union Pacific Corp.
251,498
 
481,311
Health Care Equipment &
Supplies — 1.9%
1,867
Abbott Laboratories
250,066
1,778
Becton Dickinson & Co.
332,788
4,771
Medtronic PLC
454,390
 
1,037,244
Health Care Providers &
Services — 3.4%
1,039
Cardinal Health, Inc.
163,081
840
Cigna Group (The)
242,130
8,874
CVS Health Corp.
669,011
1,401
Quest Diagnostics, Inc.
267,003
1,375
UnitedHealth Group, Inc.
474,787
 
1,816,012
Hotels, Restaurants & Leisure
— 0.9%
1,593
McDonald’s Corp.
484,097
Household Durables — 1.4%
1,441
Garmin Ltd.
354,803
3,085
Lennar Corp., Class A
388,833
 
743,636
Industrial Conglomerates —
0.3%
871
Honeywell International, Inc.
183,346
Insurance — 5.1%
3,021
Aflac, Inc.
337,446
2,223
Cincinnati Financial Corp.
351,456
998
Everest Group Ltd.
349,529
See Notes to Financial Statements
Page 18
First Trust S&P 500 Diversified Dividend Aristocrats ETF (KNGZ)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Shares
Description
Value
COMMON STOCKS (Continued)
Insurance (Continued)
5,105
MetLife, Inc.
$420,499
6,702
Principal Financial Group, Inc.
555,663
6,778
Prudential Financial, Inc.
703,150
 
2,717,743
IT Services — 5.1%
4,519
Accenture PLC, Class A
1,114,386
5,670
International Business Machines
Corp.
1,599,847
 
2,714,233
Leisure Products — 1.4%
9,786
Hasbro, Inc.
742,268
Machinery — 2.4%
613
Cummins, Inc.
258,913
934
Illinois Tool Works, Inc.
243,550
839
Snap-on, Inc.
290,739
6,710
Stanley Black & Decker, Inc.
498,754
 
1,291,956
Media — 6.4%
27,267
Comcast Corp., Class A
856,729
53,443
Interpublic Group of (The) Cos.,
Inc.
1,491,594
13,171
Omnicom Group, Inc.
1,073,832
 
3,422,155
Oil, Gas & Consumable Fuels
— 2.7%
2,754
Chevron Corp.
427,669
13,112
Coterra Energy, Inc.
310,099
2,979
Exxon Mobil Corp.
335,882
5,530
ONEOK, Inc.
403,524
 
1,477,174
Personal Care Products —
0.4%
12,676
Kenvue, Inc.
205,732
Pharmaceuticals — 3.2%
14,801
Bristol-Myers Squibb Co.
667,525
2,715
Johnson & Johnson
503,415
6,579
Merck & Co., Inc.
552,176
 
1,723,116
Professional Services — 0.8%
657
Automatic Data Processing, Inc.
192,830
2,044
Paychex, Inc.
259,097
 
451,927
Residential REITs — 0.5%
500
Essex Property Trust, Inc.
133,830
1,069
Mid-America Apartment
Communities, Inc.
149,371
 
283,201
Shares
Description
Value
 
Retail REITs — 0.8%
1,937
Federal Realty Investment Trust
$196,237
3,825
Realty Income Corp.
232,522
 
428,759
Semiconductors &
Semiconductor Equipment
— 13.5%
4,683
Analog Devices, Inc.
1,150,613
3,343
Applied Materials, Inc.
684,446
585
KLA Corp.
630,981
24,919
Microchip Technology, Inc.
1,600,298
9,108
QUALCOMM, Inc.
1,515,207
9,227
Texas Instruments, Inc.
1,695,277
 
7,276,822
Software — 1.2%
2,351
Oracle Corp.
661,195
Specialized REITs — 0.6%
1,157
Extra Space Storage, Inc.
163,068
564
Public Storage
162,911
 
325,979
Specialty Retail — 4.1%
16,289
Best Buy Co., Inc.
1,231,774
1,302
Home Depot (The), Inc.
527,557
1,857
Lowe’s Cos., Inc.
466,683
 
2,226,014
Technology Hardware, Storage
& Peripherals — 7.7%
80,904
Hewlett Packard Enterprise Co.
1,987,002
79,780
HP, Inc.
2,172,410
 
4,159,412
Textiles, Apparel & Luxury
Goods — 0.8%
5,783
NIKE, Inc., Class B
403,249
Tobacco — 1.4%
8,498
Altria Group, Inc.
561,378
1,340
Philip Morris International, Inc.
217,348
 
778,726
Trading Companies &
Distributors — 0.4%
4,404
Fastenal Co.
215,972
Total Common Stocks
53,555,487
(Cost $48,250,567)
See Notes to Financial Statements
Page 19
First Trust S&P 500 Diversified Dividend Aristocrats ETF (KNGZ)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.1%
51,224
Dreyfus Government Cash
Management Fund,
Institutional Shares -
4.04% (a)
$51,224
(Cost $51,224)
Total Investments — 99.8%
53,606,711
(Cost $48,301,791)
Net Other Assets and
Liabilities — 0.2%
102,444
Net Assets — 100.0%
$53,709,155
 
(a)
Rate shown reflects yield as of September 30, 2025.
 
Abbreviations throughout the Portfolio of Investments:
REITs
–  Real Estate Investment Trusts
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 53,555,487
$ 53,555,487
$ —
$ —
Money Market Funds
     51,224
     51,224
 —
 —
Total Investments
$53,606,711
$53,606,711
$—
$—
 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 20
First Trust SMID Capital Strength ETF (FSCS)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS — 99.9%
Aerospace & Defense — 1.1%
1,000
Curtiss-Wright Corp.
$542,940
Air Freight & Logistics —
2.4%
5,003
C.H. Robinson Worldwide, Inc.
662,397
4,367
Expeditors International of
Washington, Inc.
535,351
 
1,197,748
Automobile Components —
1.2%
21,260
Gentex Corp.
601,658
Banks — 8.6%
3,902
City Holding Co.
483,341
7,546
Commerce Bancshares, Inc.
450,949
3,515
Cullen/Frost Bankers, Inc.
445,597
4,874
Esquire Financial Holdings, Inc.
497,416
22,088
First BanCorp
487,040
10,852
OFG Bancorp
471,953
6,026
Pathward Financial, Inc.
445,984
5,266
Preferred Bank
475,994
9,727
Westamerica BanCorp
486,253
 
4,244,527
Beverages — 1.8%
4,302
Coca-Cola Consolidated, Inc.
504,022
10,529
National Beverage Corp. (a)
388,731
 
892,753
Biotechnology — 1.0%
16,691
Alkermes PLC (a)
500,730
Building Products — 4.9%
6,937
A.O. Smith Corp.
509,245
3,191
Allegion PLC
565,924
1,191
Carlisle Cos., Inc.
391,791
800
Lennox International, Inc.
423,488
3,063
Simpson Manufacturing Co., Inc.
512,930
 
2,403,378
Capital Markets — 11.2%
10,522
Artisan Partners Asset
Management, Inc., Class A
456,655
2,044
Cboe Global Markets, Inc.
501,291
1,128
FactSet Research Systems, Inc.
323,161
10,309
Federated Hermes, Inc.
535,346
2,486
Houlihan Lokey, Inc.
510,426
2,335
MarketAxess Holdings, Inc.
406,874
1,690
Morningstar, Inc.
392,097
3,812
Northern Trust Corp.
513,095
2,666
PJT Partners, Inc., Class A
473,828
5,254
SEI Investments Co.
445,802
5,208
StoneX Group, Inc. (a)
525,591
4,611
T. Rowe Price Group, Inc.
473,273
 
5,557,439
Shares
Description
Value
 
Chemicals — 5.0%
6,511
Cabot Corp.
$495,162
5,265
CF Industries Holdings, Inc.
472,270
668
NewMarket Corp.
553,244
4,258
PPG Industries, Inc.
447,558
4,377
RPM International, Inc.
515,961
 
2,484,195
Commercial Services &
Supplies — 5.1%
7,066
Brady Corp., Class A
551,360
2,141
Clean Harbors, Inc. (a)
497,183
2,788
MSA Safety, Inc.
479,731
8,740
Rollins, Inc.
513,388
4,719
Veralto Corp.
503,092
 
2,544,754
Communications Equipment
— 1.1%
1,614
F5, Inc. (a)
521,629
Construction & Engineering
— 2.3%
4,304
AECOM
561,543
1,453
Valmont Industries, Inc.
563,372
 
1,124,915
Consumer Staples Distribution
& Retail — 1.7%
956
Casey’s General Stores, Inc.
540,446
2,944
Sprouts Farmers Market, Inc. (a)
320,307
 
860,753
Containers & Packaging —
2.0%
2,731
Avery Dennison Corp.
442,886
2,441
Packaging Corp. of America
531,967
 
974,853
Diversified Consumer Services
— 2.5%
2,838
Grand Canyon Education,
Inc. (a)
622,998
20,128
Laureate Education, Inc. (a)
634,837
 
1,257,835
Electronic Equipment,
Instruments & Components
— 0.9%
3,576
Itron, Inc. (a)
445,427
Food Products — 2.9%
2,847
Hershey (The) Co.
532,531
3,663
Ingredion, Inc.
447,289
2,724
Marzetti (The) Company
470,680
 
1,450,500
Ground Transportation —
0.9%
3,579
Landstar System, Inc.
438,642
See Notes to Financial Statements
Page 21
First Trust SMID Capital Strength ETF (FSCS)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Shares
Description
Value
COMMON STOCKS (Continued)
Health Care Equipment &
Supplies — 0.7%
6,722
Haemonetics Corp. (a)
$327,630
Health Care Providers &
Services — 5.1%
1,081
Chemed Corp.
484,007
5,220
CorVel Corp. (a)
404,132
4,433
Encompass Health Corp.
563,080
3,565
Ensign Group (The), Inc.
615,925
16,544
Option Care Health, Inc. (a)
459,262
 
2,526,406
Hotels, Restaurants & Leisure
— 1.8%
2,328
Darden Restaurants, Inc.
443,158
2,649
Texas Roadhouse, Inc.
440,131
 
883,289
Household Durables — 2.3%
65
NVR, Inc. (a)
522,253
4,488
PulteGroup, Inc.
592,999
 
1,115,252
Household Products — 1.0%
3,799
Clorox (The) Co.
468,417
Insurance — 9.4%
3,826
American Financial Group, Inc.
557,525
5,022
Axis Capital Holdings Ltd.
481,108
1,380
Erie Indemnity Co., Class A
439,061
3,995
Globe Life, Inc.
571,165
2,947
Hanover Insurance Group (The),
Inc.
535,264
1,824
Primerica, Inc.
506,324
2,067
RenaissanceRe Holdings Ltd.
524,873
19,330
Universal Insurance Holdings,
Inc.
508,379
7,094
W.R. Berkley Corp.
543,542
 
4,667,241
Interactive Media & Services
— 0.9%
14,153
Yelp, Inc. (a)
441,574
Machinery — 6.2%
6,924
Donaldson Co., Inc.
566,729
5,618
Graco, Inc.
477,305
3,555
Lindsay Corp.
499,691
1,448
Snap-on, Inc.
501,776
6,615
Toro (The) Co.
504,063
1,942
Watts Water Technologies, Inc.,
Class A
542,362
 
3,091,926
Media — 1.1%
9,150
New York Times (The) Co.,
Class A
525,210
Shares
Description
Value
 
Personal Care Products —
0.8%
3,766
Interparfums, Inc.
$370,499
Professional Services — 7.0%
7,894
CSG Systems International, Inc.
508,216
11,465
ExlService Holdings, Inc. (a)
504,804
6,726
Exponent, Inc.
467,322
3,001
Leidos Holdings, Inc.
567,069
2,617
Paylocity Holding Corp. (a)
416,810
7,632
TriNet Group, Inc.
510,504
6,944
UL Solutions, Inc., Class A
492,052
 
3,466,777
Software — 5.2%
26,039
A10 Networks, Inc.
472,608
8,816
Alarm.com Holdings, Inc. (a)
467,953
9,157
Dynatrace, Inc. (a)
443,657
2,166
InterDigital, Inc.
747,768
3,501
Qualys, Inc. (a)
463,287
 
2,595,273
Specialty Retail — 1.0%
2,955
Penske Automotive Group, Inc.
513,904
Trading Companies &
Distributors — 0.8%
1,036
Watsco, Inc.
418,855
Total Common Stocks
49,456,929
(Cost $47,138,330)
MONEY MARKET FUNDS — 0.1%
45,811
Dreyfus Government Cash
Management Fund,
Institutional Shares -
4.04% (b)
45,811
(Cost $45,811)
Total Investments — 100.0%
49,502,740
(Cost $47,184,141)
Net Other Assets and
Liabilities — (0.0)%
(1,232
)
Net Assets — 100.0%
$49,501,508
 
(a)
Non-income producing security.
(b)
Rate shown reflects yield as of September 30, 2025.
See Notes to Financial Statements
Page 22
First Trust SMID Capital Strength ETF (FSCS)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 49,456,929
$ 49,456,929
$ —
$ —
Money Market Funds
     45,811
     45,811
 —
 —
Total Investments
$49,502,740
$49,502,740
$—
$—
 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 23
First Trust SMID Growth Strength ETF (FSGS)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS — 99.9%
Aerospace & Defense — 2.0%
584
Curtiss-Wright Corp.
$317,077
1,104
Woodward, Inc.
278,992
 
596,069
Automobile Components —
1.2%
12,432
Gentex Corp.
351,826
Banks — 4.6%
3,335
Axos Financial, Inc. (a)
282,308
2,850
Esquire Financial Holdings, Inc.
290,856
14,535
Fulton Financial Corp.
270,787
2,034
Nicolet Bankshares, Inc.
273,573
3,603
Stock Yards Bancorp, Inc.
252,174
 
1,369,698
Biotechnology — 5.0%
9,759
Alkermes PLC (a)
292,770
13,560
Catalyst Pharmaceuticals,
Inc. (a)
267,132
6,413
Exelixis, Inc. (a)
264,857
5,052
Halozyme Therapeutics, Inc. (a)
370,513
2,160
Neurocrine Biosciences, Inc. (a)
303,221
 
1,498,493
Building Products — 4.8%
1,866
Allegion PLC
330,935
994
CSW Industrials, Inc.
241,294
468
Lennox International, Inc.
247,740
3,807
Tecnoglass, Inc.
254,726
7,594
Zurn Elkay Water Solutions
Corp.
357,146
 
1,431,841
Capital Markets — 7.6%
1,195
Cboe Global Markets, Inc.
293,074
6,028
Federated Hermes, Inc.
313,034
1,844
Hamilton Lane, Inc., Class A
248,553
4,453
Interactive Brokers Group, Inc.,
Class A
306,411
988
Morningstar, Inc.
229,226
2,230
Northern Trust Corp.
300,158
1,559
PJT Partners, Inc., Class A
277,081
2,593
Stifel Financial Corp.
294,227
 
2,261,764
Chemicals — 1.1%
390
NewMarket Corp.
323,002
Commercial Services &
Supplies — 2.0%
1,252
Clean Harbors, Inc. (a)
290,740
5,111
Rollins, Inc.
300,220
 
590,960
Shares
Description
Value
 
Communications Equipment
— 1.1%
30,830
Harmonic, Inc. (a)
$313,849
Construction & Engineering
— 4.6%
515
Comfort Systems USA, Inc.
424,968
504
EMCOR Group, Inc.
327,368
5,190
Fluor Corp. (a)
218,343
1,136
Sterling Infrastructure, Inc. (a)
385,877
 
1,356,556
Construction Materials —
1.2%
2,722
United States Lime & Minerals,
Inc.
358,079
Consumer Staples Distribution
& Retail — 1.5%
1,721
Sprouts Farmers Market, Inc. (a)
187,245
3,430
US Foods Holding Corp. (a)
262,806
 
450,051
Containers & Packaging —
0.8%
1,824
AptarGroup, Inc.
243,796
Diversified Consumer Services
— 3.2%
2,436
Adtalem Global Education,
Inc. (a)
376,240
2,482
Bright Horizons Family
Solutions, Inc. (a)
269,471
2,140
Stride, Inc. (a)
318,732
 
964,443
Electrical Equipment — 2.0%
1,863
Generac Holdings, Inc. (a)
311,866
663
Hubbell, Inc.
285,296
 
597,162
Electronic Equipment,
Instruments & Components
— 0.9%
2,091
Itron, Inc. (a)
260,455
Energy Equipment & Services
— 0.9%
6,548
Cactus, Inc., Class A
258,450
Financial Services — 2.7%
859
Corpay, Inc. (a)
247,443
9,848
Paymentus Holdings, Inc.,
Class A (a)
301,349
41,877
Payoneer Global, Inc. (a)
253,356
 
802,148
Food Products — 0.9%
2,142
Ingredion, Inc.
261,560
See Notes to Financial Statements
Page 24
First Trust SMID Growth Strength ETF (FSGS)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Shares
Description
Value
COMMON STOCKS (Continued)
Health Care Equipment &
Supplies — 1.3%
3,931
Haemonetics Corp. (a)
$191,597
4,063
Lantheus Holdings, Inc. (a)
208,391
 
399,988
Health Care Providers &
Services — 5.0%
3,052
CorVel Corp. (a)
236,286
2,593
Encompass Health Corp.
329,363
2,084
Ensign Group (The), Inc.
360,052
9,674
Option Care Health, Inc. (a)
268,550
12,963
Progyny, Inc. (a)
278,964
 
1,473,215
Health Care Technology —
1.2%
4,744
Doximity, Inc., Class A (a)
347,024
Hotels, Restaurants & Leisure
— 0.9%
1,549
Texas Roadhouse, Inc.
257,366
Household Durables — 2.3%
1,549
Installed Building Products, Inc.
382,076
800
TopBuild Corp. (a)
312,688
 
694,764
Insurance — 9.8%
1,516
Assurant, Inc.
328,366
808
Erie Indemnity Co., Class A
257,073
1,992
HCI Group, Inc.
382,325
594
Kinsale Capital Group, Inc.
252,604
4,190
Mercury General Corp.
355,228
21,251
Oscar Health, Inc., Class A (a)
402,281
1,208
RenaissanceRe Holdings Ltd.
306,748
11,303
Universal Insurance Holdings,
Inc.
297,269
4,148
W.R. Berkley Corp.
317,820
 
2,899,714
Interactive Media & Services
— 0.8%
7,685
Pinterest, Inc., Class A (a)
247,226
Leisure Products — 0.9%
8,148
YETI Holdings, Inc. (a)
270,351
Life Sciences Tools & Services
— 1.6%
915
Medpace Holdings, Inc. (a)
470,456
Machinery — 4.0%
5,216
Flowserve Corp.
277,178
11,326
Mueller Water Products, Inc.,
Class A
289,040
Shares
Description
Value
 
Machinery (Continued)
1,604
SPX Technologies, Inc. (a)
$299,595
1,135
Watts Water Technologies, Inc.,
Class A
316,983
 
1,182,796
Media — 1.0%
5,350
New York Times (The) Co.,
Class A
307,090
Oil, Gas & Consumable Fuels
— 1.2%
1,144
Centrus Energy Corp.,
Class A (a) (b)
354,720
Personal Care Products —
1.1%
2,424
elf Beauty, Inc. (a)
321,131
Pharmaceuticals — 0.7%
8,102
Harmony Biosciences Holdings,
Inc. (a)
223,291
Professional Services — 4.9%
6,704
ExlService Holdings, Inc. (a)
295,177
32,224
Legalzoom.com, Inc. (a)
334,485
3,742
Parsons Corp. (a)
310,287
1,242
Paycom Software, Inc.
258,510
1,530
Paylocity Holding Corp. (a)
243,683
 
1,442,142
Software — 10.2%
5,155
Alarm.com Holdings, Inc. (a)
273,627
1,136
Appfolio, Inc., Class A (a)
313,150
5,042
BlackLine, Inc. (a)
267,730
9,390
Clear Secure, Inc., Class A
313,438
3,593
Docusign, Inc. (a)
259,019
5,354
Dynatrace, Inc. (a)
259,401
1,266
InterDigital, Inc.
437,061
1,412
Manhattan Associates, Inc. (a)
289,432
5,463
Pegasystems, Inc.
314,123
1,429
PTC, Inc. (a)
290,116
 
3,017,097
Specialty Retail — 1.9%
3,051
Abercrombie & Fitch Co.,
Class A (a)
261,013
2,038
Five Below, Inc. (a)
315,279
 
576,292
Textiles, Apparel & Luxury
Goods — 1.0%
2,799
Deckers Outdoor Corp. (a)
283,735
See Notes to Financial Statements
Page 25
First Trust SMID Growth Strength ETF (FSGS)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Shares
Description
Value
COMMON STOCKS (Continued)
Trading Companies &
Distributors — 2.0%
1,093
Applied Industrial Technologies,
Inc.
$285,328
5,628
Rush Enterprises, Inc., Class A
300,929
 
586,257
Total Common Stocks
29,644,857
(Cost $27,648,564)
MONEY MARKET FUNDS — 0.1%
24,214
Dreyfus Government Cash
Management Fund,
Institutional Shares -
4.04% (c)
24,214
(Cost $24,214)
 
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 1.1%
$67,679
Bank of America Corp.,
4.20% (c), dated 09/30/25, due
10/01/25, with a maturity
value of $67,687.
Collateralized by
U.S. Treasury Securities,
interest rates of 0.00% to
4.63%, due 11/15/41 to
05/15/54. The value of the
collateral including accrued
interest is $69,033. (d)
67,679
99,048
JPMorgan Chase & Co.,
4.20% (c), dated 09/30/25, due
10/01/25, with a maturity
value of $99,060.
Collateralized by
U.S. Treasury Securities,
interest rates of 4.13% to
4.50%, due 12/31/31 to
05/31/32. The value of the
collateral including accrued
interest is $101,029. (d)
99,048
Principal
Value
Description
Value
 
$59,385
Mizuho Financial Group, Inc.,
4.20% (c), dated 09/30/25, due
10/01/25, with a maturity
value of $59,392.
Collateralized by
U.S. Treasury Securities,
interest rates of 0.75% to
4.38%, due 05/31/26 to
09/30/32. The value of the
collateral including accrued
interest is $60,573. (d)
$59,385
106,527
RBC Dominion Securities, Inc.,
4.19% (c), dated 09/30/25, due
10/01/25, with a maturity
value of $106,539.
Collateralized by
U.S. Treasury Securities,
interest rates of 0.00% to
4.75%, due 10/23/25 to
08/15/55. The value of the
collateral including accrued
interest is $108,658. (d)
106,527
Total Repurchase Agreements
332,639
(Cost $332,639)
Total Investments — 101.1%
30,001,710
(Cost $28,005,417)
Net Other Assets and
Liabilities — (1.1)%
(339,673
)
Net Assets — 100.0%
$29,662,037
 
(a)
Non-income producing security.
(b)
All or a portion of this security is on loan (see Note 2F -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities is $319,062 and the total value of the
collateral held by the Fund, including for securities sold and
pending settlement, is $332,639.
(c)
Rate shown reflects yield as of September 30, 2025.
(d)
This security serves as collateral for securities on loan.
See Notes to Financial Statements
Page 26
First Trust SMID Growth Strength ETF (FSGS)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 29,644,857
$ 29,644,857
$      —
$ —
Money Market Funds
     24,214
     24,214
      —
 —
Repurchase Agreements
    332,639
         —
 332,639
 —
Total Investments
$30,001,710
$29,669,071
$332,639
$—
 
*
See Portfolio of Investments for industry breakout.
Offsetting Assets and Liabilities
Offsetting assets and liabilities requires entities to disclose both gross and net information about instruments and transactions eligible for offset, and to disclose instruments and transactions subject to master netting or similar agreements (see Note 2C - Offsetting on the Statements of Assets and Liabilities in the Notes to Financial Statements).
The Fund’s loaned securities were all subject to an enforceable Securities Lending Agency Agreement. Securities lent in accordance with the Securities Lending Agency Agreement on a gross basis were as follows:
 
Securities Lending Agency Agreement
Total gross amount presented on the Statements
of Assets and Liabilities(1)
$319,062
Non-cash Collateral(2)
(319,062
)
Net Amount
$—
 
(1)
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
(2)
At September 30, 2025, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
The Fund’s investments in repurchase agreements were all subject to an enforceable Master Repurchase Agreement. Repurchase Agreements on a gross basis were as follows:
 
Repurchase Agreements
Total gross amount presented on the Statements
of Assets and Liabilities(3)
$332,639
Non-cash Collateral(4)
(332,639
)
Net Amount
$—
 
(3)
The amount is included in “Investments, at value” on the
Statements of Assets and Liabilities.
(4)
At September 30, 2025, the value of the collateral received
from each seller exceeded the value of the repurchase
agreements.
See Notes to Financial Statements
Page 27
First Trust S-Network Streaming & Gaming ETF (BNGE)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS (a) (b) — 99.9%
Australia — 3.8%
6,702
Aristocrat Leisure Ltd. (AUD)
$310,341
Bermuda — 0.4%
90,750
China Ruyi Holdings Ltd.
(HKD) (c)
34,635
Cayman Islands — 19.7%
4,273
Hello Group, Inc., ADR
31,706
19,871
iQIYI, Inc., ADR (c)
50,870
682
JOYY, Inc., ADR
39,972
33,874
Kuaishou Technology
(HKD) (d) (e)
368,255
1,016
NetEase Cloud Music, Inc.
(HKD) (c) (d) (e)
33,919
12,700
NetEase, Inc. (HKD)
386,453
5,129
Tencent Holdings Ltd. (HKD)
436,976
10,625
Tencent Music Entertainment
Group, ADR
247,987
 
1,596,138
Greece — 0.5%
1,583
OPAP S.A. (EUR)
36,929
Guernsey — 0.5%
3,084
Super Group SGHC Ltd.
40,709
Ireland — 3.5%
1,130
Flutter Entertainment PLC (c)
287,020
Isle Of Man — 1.6%
7,742
Entain PLC (GBP)
90,982
7,183
Playtech PLC (GBP)
35,647
 
126,629
Italy — 0.8%
2,349
Lottomatica Group S.p.A. (EUR)
63,210
Japan — 14.6%
4,000
Capcom Co., Ltd. (JPY)
108,814
1,200
Konami Group Corp. (JPY)
173,243
4,761
Nexon Co., Ltd. (JPY)
104,534
3,790
Nintendo Co., Ltd. (JPY)
328,167
13,315
Sony Financial Group, Inc.
(JPY) (c)
14,766
13,315
Sony Group Corp. (JPY)
383,464
3,000
Square Enix Holdings Co., Ltd.
(JPY)
64,550
 
1,177,538
Luxembourg — 4.0%
461
Spotify Technology S.A. (c)
321,778
South Korea — 1.3%
347
Krafton, Inc. (KRW) (c)
72,340
545
SOOP Co., Ltd. (KRW)
29,133
 
101,473
Shares
Description
Value
 
Sweden — 2.1%
1,771
Betsson AB, Class B (SEK)
$29,214
1,677
Evolution AB (SEK) (d) (e)
137,767
 
166,981
Switzerland — 0.7%
2,222
Sportradar Group AG,
Class A (c)
59,772
United States — 46.4%
2,270
Advanced Micro Devices,
Inc. (c)
367,263
5,794
DraftKings, Inc., Class A (c)
216,696
2,163
Electronic Arts, Inc.
436,277
10,480
fuboTV, Inc. (c) (f)
43,492
4,958
GameStop Corp., Class A (c)
135,254
1,018
Light & Wonder, Inc. (c)
85,451
2,518
MGM Resorts International (c)
87,274
262
Netflix, Inc. (c)
314,117
1,884
Penn Entertainment, Inc. (c)
36,286
3,116
ROBLOX Corp., Class A (c)
431,628
1,559
Roku, Inc. (c)
156,103
3,910
Rumble, Inc. (c) (f)
28,308
2,372
Rush Street Interactive, Inc. (c)
48,579
1,391
Take-Two Interactive Software,
Inc. (c)
359,379
3,853
Unity Software, Inc. (c)
154,274
2,692
Walt Disney (The) Co.
308,234
28,093
Warner Bros. Discovery, Inc. (c)
548,656
 
3,757,271
Total Common Stocks
8,080,424
(Cost $6,439,240)
MONEY MARKET FUNDS — 0.1%
6,032
Dreyfus Government Cash
Management Fund,
Institutional Shares -
4.04% (g)
6,032
(Cost $6,032)
 
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 0.8%
$14,110
Bank of America Corp.,
4.20% (g), dated 09/30/25,
due 10/01/25, with a maturity
value of $14,112.
Collateralized by
U.S. Treasury Securities,
interest rates of 0.00% to
4.63%, due 11/15/41 to
05/15/54. The value of the
collateral including accrued
interest is $14,392. (h)
14,110
See Notes to Financial Statements
Page 28
First Trust S-Network Streaming & Gaming ETF (BNGE)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Principal
Value
Description
Value
REPURCHASE AGREEMENTS (Continued)
$20,648
JPMorgan Chase & Co.,
4.20% (g), dated 09/30/25,
due 10/01/25, with a maturity
value of $20,650.
Collateralized by
U.S. Treasury Securities,
interest rates of 4.13% to
4.50%, due 12/31/31 to
05/31/32. The value of the
collateral including accrued
interest is $21,061. (h)
$20,648
12,382
Mizuho Financial Group, Inc.,
4.20% (g), dated 09/30/25,
due 10/01/25, with a maturity
value of $12,383.
Collateralized by
U.S. Treasury Securities,
interest rates of 0.75% to
4.38%, due 05/31/26 to
09/30/32. The value of the
collateral including accrued
interest is $12,630. (h)
12,382
22,208
RBC Dominion Securities, Inc.,
4.19% (g), dated 09/30/25,
due 10/01/25, with a maturity
value of $22,211.
Collateralized by
U.S. Treasury Securities,
interest rates of 0.00% to
4.75%, due 10/23/25 to
08/15/55. The value of the
collateral including accrued
interest is $22,652. (h)
22,208
Total Repurchase Agreements
69,348
(Cost $69,348)
Total Investments — 100.8%
8,155,804
(Cost $6,514,620)
Net Other Assets and
Liabilities — (0.8)%
(66,525
)
Net Assets — 100.0%
$8,089,279
 
(a)
Portfolio securities are categorized based upon their country
of incorporation, which can be different from the country
categorization of the Fund’s underlying index.
(b)
Securities are issued in U.S. dollars unless otherwise
indicated in the security description.
(c)
Non-income producing security.
(d)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (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.
(e)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
(f)
All or a portion of this security is on loan (see Note 2F -
Securities Lending in the Notes to Financial Statements). The
remaining contractual maturity of all of the securities lending
transactions is overnight and continuous. The aggregate
value of such securities is $64,621 and the total value of the
collateral held by the Fund, including for securities sold and
pending settlement, is $69,348.
(g)
Rate shown reflects yield as of September 30, 2025.
(h)
This security serves as collateral for securities on loan.
 
Abbreviations throughout the Portfolio of Investments:
ADR
–  American Depositary Receipt
AUD
–  Australian Dollar
EUR
–  Euro
GBP
–  British Pound Sterling
HKD
–  Hong Kong Dollar
JPY
–  Japanese Yen
KRW
–  South Korean Won
SEK
–  Swedish Krona
USD
–  United States Dollar
 
Currency Exposure Diversification
% of Total
Investments
USD
60.2%
HKD
15.5
JPY
14.4
AUD
3.8
SEK
2.1
GBP
1.6
KRW
1.2
EUR
1.2
Total
100.0%
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 8,080,424
$ 8,080,424
$     —
$ —
Money Market Funds
     6,032
     6,032
     —
 —
Repurchase Agreements
    69,348
        —
 69,348
 —
Total Investments
$8,155,804
$8,086,456
$69,348
$—
 
*
See Portfolio of Investments for country breakout.
See Notes to Financial Statements
Page 29
First Trust S-Network Streaming & Gaming ETF (BNGE)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Offsetting Assets and Liabilities
Offsetting assets and liabilities requires entities to disclose both gross and net information about instruments and transactions eligible for offset, and to disclose instruments and transactions subject to master netting or similar agreements (see Note 2C - Offsetting on the Statements of Assets and Liabilities in the Notes to Financial Statements).
The Fund’s loaned securities were all subject to an enforceable Securities Lending Agency Agreement. Securities lent in accordance with the Securities Lending Agency Agreement on a gross basis were as follows:
 
Securities Lending Agency Agreement
Total gross amount presented on the Statements
of Assets and Liabilities(1)
$64,621
Non-cash Collateral(2)
(64,621
)
Net Amount
$—
 
(1)
The amount presented on the Statements of Assets and
Liabilities, which is included in “Investments, at value,” is not
offset and is shown on a gross basis.
(2)
At September 30, 2025, the value of the collateral received
from each borrower exceeded the value of the related
securities loaned. This amount is disclosed on the Portfolio of
Investments.
The Fund’s investments in repurchase agreements were all subject to an enforceable Master Repurchase Agreement. Repurchase Agreements on a gross basis were as follows:
 
Repurchase Agreements
Total gross amount presented on the Statements
of Assets and Liabilities(3)
$69,348
Non-cash Collateral(4)
(69,348
)
Net Amount
$—
 
(3)
The amount is included in “Investments, at value” on the
Statements of Assets and Liabilities.
(4)
At September 30, 2025, the value of the collateral received
from each seller exceeded the value of the repurchase
agreements.
See Notes to Financial Statements
Page 30
First Trust Balanced Income ETF (FTBI)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
EXCHANGE-TRADED FUNDS (a) — 99.9%
Capital Markets — 99.9%
71,912
First Trust BuyWrite Income
ETF
$1,705,034
27,570
First Trust Core Investment
Grade ETF
587,517
17,232
First Trust Intermediate Duration
Investment Grade Corporate
ETF
365,835
16,816
First Trust Intermediate
Government Opportunities
ETF
344,224
18,911
First Trust Limited Duration
Investment Grade Corporate
ETF
363,280
15,841
First Trust Long Duration
Opportunities ETF
344,542
6,850
First Trust Low Duration
Opportunities ETF
341,061
42,079
First Trust Nasdaq BuyWrite
Income ETF
866,827
13,201
First Trust Smith Opportunistic
Fixed Income ETF
586,388
18,969
FT Vest Gold Strategy Target
Income ETF®
454,118
21,978
FT Vest Rising Dividend
Achievers Target Income ETF
568,131
11,010
FT Vest S&P 500® Dividend
Aristocrats Target Income
ETF®
542,903
26,072
FT Vest SMID Rising Dividend
Achievers Target Income ETF
563,677
30,152
FT Vest Technology Dividend
Target Income ETF
863,855
Total Investments — 99.9%
8,497,392
(Cost $8,277,775)
Net Other Assets and
Liabilities — 0.1%
4,718
Net Assets — 100.0%
$8,502,110
 
(a)
Represents investments in affiliated funds.
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Exchange-Traded Funds*
$ 8,497,392
$ 8,497,392
$ —
$ —
 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 31
First Trust Exchange-Traded Fund VI
Statements of Assets and Liabilities
September 30, 2025 (Unaudited)
 
 
First Trust
Nasdaq Bank
ETF
(FTXO)
First Trust
Nasdaq Food &
Beverage ETF
(FTXG)
First Trust
Nasdaq Oil &
Gas ETF
(FTXN)
First Trust
Nasdaq
Pharmaceuticals
ETF
(FTXH)
ASSETS:
Investments, at value - Unaffiliated
$248,862,847
$18,194,819
$116,623,278
$15,689,695
Investments, at value - Affiliated
—
—
—
—
Total investments, at value
248,862,847
18,194,819
116,623,278
15,689,695
Cash
—
—
—
—
Foreign currency, at value
—
—
—
—
Receivables:
Dividends
524,156
31,783
104,614
10,212
Investment securities sold
—
—
—
—
Reclaims
—
—
—
—
Securities lending income
—
—
57
—
Total Assets
249,387,003
18,226,602
116,727,949
15,699,907
 
LIABILITIES:
Payables:
Investment advisory fees
122,806
9,329
58,341
7,597
Deferred foreign capital gains tax
—
—
—
—
Collateral for securities on loan
—
—
721
—
Total Liabilities
122,806
9,329
59,062
7,597
NET ASSETS
$249,264,197
$18,217,273
$116,668,887
$15,692,310
 
NET ASSETS consist of:
Paid-in capital
$370,327,980
$97,611,251
$213,140,383
$20,505,153
Par value
70,000
8,500
41,000
5,500
Accumulated distributable earnings (loss)
(121,133,783
)
(79,402,478
)
(96,512,496
)
(4,818,343
)
NET ASSETS
$249,264,197
$18,217,273
$116,668,887
$15,692,310
NET ASSET VALUE, per share
$35.61
$21.43
$28.46
$28.53
Number of shares outstanding (unlimited number of
shares authorized, par value $0.01 per share)
7,000,002
850,002
4,100,002
550,002
Investments, at cost - Unaffiliated
$215,633,163
$22,417,626
$121,591,730
$16,642,339
Investments, at cost - Affiliated
$—
$—
$—
$—
Total investments, at cost
$215,633,163
$22,417,626
$121,591,730
$16,642,339
Foreign currency, at cost (proceeds)
$—
$—
$—
$—
Securities on loan, at value
$—
$—
$—
$—
See Notes to Financial Statements
Page 32
 
First Trust Nasdaq
Semiconductor ETF
(FTXL)
First Trust Nasdaq
Transportation ETF
(FTXR)
First Trust S-Network
E-Commerce ETF
(ISHP)
Emerging Markets
Equity Select ETF
(RNEM)
First Trust S&P 500
Diversified Dividend
Aristocrats ETF
(KNGZ)
$318,745,771
$35,050,529
$6,276,411
$16,371,108
$53,606,711
—
—
—
—
—
318,745,771
35,050,529
6,276,411
16,371,108
53,606,711
—
—
—
—
—
—
—
25
7,713
—
83,953
15,807
8,317
38,677
123,785
—
—
—
136
—
—
—
4,451
275
598
—
—
—
—
—
318,829,724
35,066,336
6,289,204
16,417,909
53,731,094
151,650
17,188
3,105
10,163
21,939
—
—
—
148,563
—
—
—
—
—
—
151,650
17,188
3,105
158,726
21,939
$318,678,074
$35,049,148
$6,286,099
$16,259,183
$53,709,155
$311,790,974
$95,445,621
$10,858,239
$14,908,657
$51,679,962
28,500
10,000
1,500
3,000
15,000
6,858,600
(60,406,473
)
(4,573,640
)
1,347,526
2,014,193
$318,678,074
$35,049,148
$6,286,099
$16,259,183
$53,709,155
$111.82
$35.05
$41.91
$54.20
$35.81
2,850,002
1,000,002
150,002
300,002
1,500,002
$254,555,346
$30,893,045
$5,649,736
$14,600,391
$48,301,791
$—
$—
$—
$—
$—
$254,555,346
$30,893,045
$5,649,736
$14,600,391
$48,301,791
$—
$—
$25
$7,719
$—
$—
$—
$—
$—
$—
See Notes to Financial Statements
Page 33
First Trust Exchange-Traded Fund VI
Statements of Assets and Liabilities (Continued)
September 30, 2025 (Unaudited)
 
 
First Trust
SMID Capital
Strength ETF
(FSCS)
First Trust
SMID Growth
Strength ETF
(FSGS)
First Trust
S-Network
Streaming &
Gaming ETF
(BNGE)
First Trust
Balanced
Income ETF
(FTBI)
ASSETS:
Investments, at value - Unaffiliated
$49,502,740
$30,001,710
$8,155,804
$—
Investments, at value - Affiliated
—
—
—
8,497,392
Total investments, at value
49,502,740
30,001,710
8,155,804
8,497,392
Cash
—
—
—
6,457
Foreign currency, at value
—
—
—
—
Receivables:
Dividends
22,770
7,608
6,895
—
Investment securities sold
—
—
—
—
Reclaims
—
—
447
—
Securities lending income
—
112
60
—
Total Assets
49,525,510
30,009,430
8,163,206
8,503,849
 
LIABILITIES:
Payables:
Investment advisory fees
24,002
14,754
4,579
1,739
Deferred foreign capital gains tax
—
—
—
—
Collateral for securities on loan
—
332,639
69,348
—
Total Liabilities
24,002
347,393
73,927
1,739
NET ASSETS
$49,501,508
$29,662,037
$8,089,279
$8,502,110
 
NET ASSETS consist of:
Paid-in capital
$51,912,550
$36,507,437
$6,157,127
$8,161,728
Par value
13,500
9,500
2,000
4,000
Accumulated distributable earnings (loss)
(2,424,542
)
(6,854,900
)
1,930,152
336,382
NET ASSETS
$49,501,508
$29,662,037
$8,089,279
$8,502,110
NET ASSET VALUE, per share
$36.67
$31.22
$40.45
$21.26
Number of shares outstanding (unlimited number of
shares authorized, par value $0.01 per share)
1,350,002
950,002
200,002
400,002
Investments, at cost - Unaffiliated
$47,184,141
$28,005,417
$6,514,620
$—
Investments, at cost - Affiliated
$—
$—
$—
$8,277,775
Total investments, at cost
$47,184,141
$28,005,417
$6,514,620
$8,277,775
Foreign currency, at cost (proceeds)
$—
$—
$—
$—
Securities on loan, at value
$—
$319,062
$64,621
$—
See Notes to Financial Statements
Page 34
This page intentionally left blank.
Page 35
First Trust Exchange-Traded Fund VI
Statements of Operations
For the Period Ended September 30, 2025 (Unaudited)
 
 
First Trust
Nasdaq Bank
ETF
(FTXO)
First Trust
Nasdaq Food &
Beverage ETF
(FTXG)
First Trust
Nasdaq Oil &
Gas ETF
(FTXN)
First Trust
Nasdaq
Pharmaceuticals
ETF
(FTXH)
INVESTMENT INCOME:
Dividends - Unaffiliated
$3,192,002
$431,387
$2,138,930
$177,098
Dividends - Affiliated
—
—
—
—
Securities lending income (net of fees)
—
—
375
—
Foreign withholding tax
(4,037
)
(383
)
—
—
Total investment income
3,187,965
431,004
2,139,305
177,098
 
EXPENSES:
Investment advisory fees
687,534
 
80,549
 
374,260
 
48,142
 
Other expenses
16,786
2,266
9,492
1,556
Total expenses
704,320
82,815
383,752
49,698
NET INVESTMENT INCOME (LOSS)
2,483,645
348,189
1,755,553
127,400
 
NET REALIZED AND UNREALIZED GAIN
(LOSS):
Net realized gain (loss) on:
Investments - Unaffiliated
526,378
(1,296,846
)
(1,708,299
)
(387,209
)
Investments - Affiliated
—
—
—
—
In-kind redemptions - Unaffiliated
5,953,867
179,166
167,270
890,084
In-kind redemptions - Affiliated
—
—
—
—
Distribution of capital gains from investment
companies - Affiliated
—
—
—
—
Foreign currency transactions
—
—
—
—
Net realized gain (loss)
6,480,245
(1,117,680
)
(1,541,029
)
502,875
Net change in unrealized appreciation (depreciation)
on:
Investments - Unaffiliated
30,231,548
(1,218,838
)
(9,635,782
)
335,391
Investments - Affiliated
—
—
—
—
Foreign currency translation
—
—
—
—
Deferred foreign capital gains tax
—
—
—
—
Net change in unrealized appreciation (depreciation)
30,231,548
(1,218,838
)
(9,635,782
)
335,391
NET REALIZED AND UNREALIZED GAIN
(LOSS)
36,711,793
(2,336,518
)
(11,176,811
)
838,266
NET INCREASE (DECREASE) IN NET
ASSETS RESULTING FROM
OPERATIONS
$39,195,438
$(1,988,329
)
$(9,421,258
)
$965,666
See Notes to Financial Statements
Page 36
 
First Trust Nasdaq
Semiconductor ETF
(FTXL)
First Trust Nasdaq
Transportation ETF
(FTXR)
First Trust S-Network
E-Commerce ETF
(ISHP)
Emerging Markets
Equity Select ETF
(RNEM)
First Trust S&P 500
Diversified Dividend
Aristocrats ETF
(KNGZ)
$1,413,011
$281,852
$49,413
$417,552
$841,723
—
—
—
—
—
—
28
—
—
—
(13,621
)
—
(3,040
)
(61,127
)
(36
)
1,399,390
281,880
46,373
356,425
841,687
804,087
 
89,099
 
18,251
 
62,024
 
122,966
 
19,329
2,106
438
1,230
3,557
823,416
91,205
18,689
63,254
126,523
575,974
190,675
27,684
293,171
715,164
5,252,688
(447,611
)
5,394
(149,188
)
144,698
—
—
—
—
—
6,284,026
10,730
353,153
89,566
218,177
—
—
—
—
—
—
—
—
—
—
—
—
(697
)
(5,933
)
—
11,536,714
(436,881
)
357,850
(65,555
)
362,875
92,764,540
5,209,696
437,930
993,573
5,056,428
—
—
—
—
—
—
—
345
1,000
—
—
—
—
(86,244
)
—
92,764,540
5,209,696
438,275
908,329
5,056,428
104,301,254
4,772,815
796,125
842,774
5,419,303
$104,877,228
$4,963,490
$823,809
$1,135,945
$6,134,467
See Notes to Financial Statements
Page 37
First Trust Exchange-Traded Fund VI
Statements of Operations (Continued)
For the Period Ended September 30, 2025 (Unaudited)
 
 
First Trust
SMID Capital
Strength ETF
(FSCS)
First Trust
SMID Growth
Strength ETF
(FSGS)
First Trust
S-Network
Streaming &
Gaming ETF
(BNGE)
First Trust
Balanced
Income ETF
(FTBI) (a)
INVESTMENT INCOME:
Dividends - Unaffiliated
$299,007
$90,932
$72,157
$—
Dividends - Affiliated
—
—
—
134,620
Securities lending income (net of fees)
—
585
409
—
Foreign withholding tax
(1,935
)
—
(1,910
)
—
Total investment income
297,072
91,517
70,656
134,620
 
EXPENSES:
Investment advisory fees
123,090
 
87,957
 
23,796
 
4,716
 
Other expenses
3,058
2,193
510
75
Total expenses
126,148
90,150
24,306
4,791
NET INVESTMENT INCOME (LOSS)
170,924
1,367
46,350
129,829
 
NET REALIZED AND UNREALIZED GAIN
(LOSS):
Net realized gain (loss) on:
Investments - Unaffiliated
(1,644,834
)
(3,126,507
)
25,466
—
Investments - Affiliated
—
—
—
(4,322
)
In-kind redemptions - Unaffiliated
1,480,125
1,594,965
726,822
—
In-kind redemptions - Affiliated
—
—
—
121,923
Distribution of capital gains from investment
companies - Affiliated
—
—
—
3,826
Foreign currency transactions
—
—
500
—
Net realized gain (loss)
(164,709
)
(1,531,542
)
752,788
121,427
Net change in unrealized appreciation (depreciation)
on:
Investments - Unaffiliated
2,535,391
5,520,722
1,376,823
—
Investments - Affiliated
—
—
—
219,617
Foreign currency translation
—
—
37
—
Deferred foreign capital gains tax
—
—
—
—
Net change in unrealized appreciation (depreciation)
2,535,391
5,520,722
1,376,860
219,617
NET REALIZED AND UNREALIZED GAIN
(LOSS)
2,370,682
3,989,180
2,129,648
341,044
NET INCREASE (DECREASE) IN NET
ASSETS RESULTING FROM
OPERATIONS
$2,541,606
$3,990,547
$2,175,998
$470,873
 
(a)
Commenced investment operations on May 28, 2025.
See Notes to Financial Statements
Page 38
This page intentionally left blank.
Page 39
First Trust Exchange-Traded Fund VI
Statements of Changes in Net Assets
 
 
First Trust Nasdaq Bank ETF
(FTXO)
First Trust Nasdaq Food &
Beverage ETF (FTXG)
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year
Ended
3/31/2025 
Six Months
Ended
9/30/2025 
(Unaudited)
Year
Ended
3/31/2025 
OPERATIONS:
Net investment income (loss)
$2,483,645
$3,512,491
$348,189
$770,139
Net realized gain (loss)
6,480,245
3,182,429
(1,117,680
)
(2,288,749
)
Net change in unrealized appreciation (depreciation)
30,231,548
(3,383,181
)
(1,218,838
)
1,260,093
Net increase (decrease) in net assets resulting from
operations
39,195,438
3,311,739
(1,988,329
)
(258,517
)
 
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Investment operations
(2,644,476
)
(3,320,362
)
(355,271
)
(834,902
)
 
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold
16,462,391
 
140,871,327
 
12,584,041
 
5,937,981
 
Cost of shares redeemed
(28,397,826
) 
(31,481,366
) 
(18,010,382
) 
(36,019,549
) 
Net increase (decrease) in net assets resulting from
shareholder transactions
(11,935,435
)
109,389,961
(5,426,341
)
(30,081,568
)
Total increase (decrease) in net assets
24,615,527
109,381,338
(7,769,941
)
(31,174,987
)
 
NET ASSETS:
Beginning of period
224,648,670
115,267,332
25,987,214
57,162,201
End of period
$249,264,197
$224,648,670
$18,217,273
$25,987,214
 
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period
7,400,002
4,250,002
1,100,002
2,300,002
Shares sold
500,000
4,250,000
550,000
250,000
Shares redeemed
(900,000
)
(1,100,000
)
(800,000
)
(1,450,000
)
Shares outstanding, end of period
7,000,002
7,400,002
850,002
1,100,002
See Notes to Financial Statements
Page 40
 
First Trust Nasdaq Oil & Gas ETF
(FTXN)
First Trust Nasdaq Pharmaceuticals
ETF (FTXH)
First Trust Nasdaq Semiconductor ETF
(FTXL)
Six Months
Ended
9/30/2025 
(Unaudited)
Year
Ended
3/31/2025 
Six Months
Ended
9/30/2025 
(Unaudited)
Year
Ended
3/31/2025 
Six Months
Ended
9/30/2025 
(Unaudited)
Year
Ended
3/31/2025 
$1,755,553
$4,350,181
$127,400
$284,819
$575,974
$5,514,359
(1,541,029
)
9,784,326
502,875
1,299,450
11,536,714
295,503,984
(9,635,782
)
(23,857,822
)
335,391
(1,562,859
)
92,764,540
(352,849,185
)
(9,421,258
)
(9,723,315
)
965,666
21,410
104,877,228
(51,830,842
)
(1,712,361
)
(4,495,771
)
(128,975
)
(295,661
)
(618,570
)
(5,946,221
)
1,529,488
 
18,276,193
 
6,138,068
 
1,388,563
 
22,141,979
 
231,988,980
 
(31,045,304
) 
(69,443,482
) 
(6,425,550
) 
(6,967,960
) 
(42,356,280
) 
(1,375,816,390
) 
(29,515,816
)
(51,167,289
)
(287,482
)
(5,579,397
)
(20,214,301
)
(1,143,827,410
)
(40,649,435
)
(65,386,375
)
549,209
(5,853,648
)
84,044,357
(1,201,604,473
)
157,318,322
222,704,697
15,143,101
20,996,749
234,633,717
1,436,238,190
$116,668,887
$157,318,322
$15,692,310
$15,143,101
$318,678,074
$234,633,717
5,200,002
6,900,002
550,002
750,002
3,100,002
15,850,002
50,000
600,000
250,000
50,000
250,000
2,550,000
(1,150,000
)
(2,300,000
)
(250,000
)
(250,000
)
(500,000
)
(15,300,000
)
4,100,002
5,200,002
550,002
550,002
2,850,002
3,100,002
See Notes to Financial Statements
Page 41
First Trust Exchange-Traded Fund VI
Statements of Changes in Net Assets (Continued)
 
 
First Trust Nasdaq
Transportation ETF (FTXR)
First Trust S-Network
E-Commerce ETF (ISHP)
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year
Ended
3/31/2025 
Six Months
Ended
9/30/2025 
(Unaudited)
Year
Ended
3/31/2025 
OPERATIONS:
Net investment income (loss)
$190,675
$481,915
$27,684
$36,297
Net realized gain (loss)
(436,881
)
(37,560
)
357,850
411,419
Net change in unrealized appreciation (depreciation)
5,209,696
(2,730,723
)
438,275
479,900
Net increase (decrease) in net assets resulting from
operations
4,963,490
(2,286,368
)
823,809
927,616
 
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Investment operations
(282,081
)
(725,591
)
(34,425
)
(54,106
)
 
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold
3,405,926
 
3,460,092
 
—
 
3,747,999
 
Cost of shares redeemed
(1,286,596
) 
(12,546,161
) 
(1,751,489
) 
(1,847,488
) 
Net increase (decrease) in net assets resulting from
shareholder transactions
2,119,330
(9,086,069
)
(1,751,489
)
1,900,511
Total increase (decrease) in net assets
6,800,739
(12,098,028
)
(962,105
)
2,774,021
 
NET ASSETS:
Beginning of period
28,248,409
40,346,437
7,248,204
4,474,183
End of period
$35,049,148
$28,248,409
$6,286,099
$7,248,204
 
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period
950,002
1,250,002
200,002
150,002
Shares sold
100,000
100,000
—
100,000
Shares redeemed
(50,000
)
(400,000
)
(50,000
)
(50,000
)
Shares outstanding, end of period
1,000,002
950,002
150,002
200,002
See Notes to Financial Statements
Page 42
 
Emerging Markets Equity Select ETF
(RNEM)
First Trust S&P 500 Diversified
Dividend Aristocrats ETF (KNGZ)
First Trust SMID Capital Strength ETF
(FSCS)
Six Months
Ended
9/30/2025 
(Unaudited)
Year
Ended
3/31/2025 
Six Months
Ended
9/30/2025 
(Unaudited)
Year
Ended
3/31/2025 
Six Months
Ended
9/30/2025 
(Unaudited)
Year
Ended
3/31/2025 
$293,171
$425,008
$715,164
$1,109,259
$170,924
$191,261
(65,555
)
705,639
362,875
2,401,515
(164,709
)
2,736,185
908,329
(624,616
)
5,056,428
(2,212,634
)
2,535,391
(2,357,996
)
1,135,945
506,031
6,134,467
1,298,140
2,541,606
569,450
(356,313
)
(594,513
)
(709,951
)
(1,084,391
)
(152,825
)
(220,811
)
—
 
—
 
1,637,775
 
31,315,498
 
33,874,265
 
30,977,449
 
(2,546,919
) 
—
 
(1,611,784
) 
(13,337,096
) 
(12,653,554
) 
(23,705,868
) 
(2,546,919
)
—
25,991
17,978,402
21,220,711
7,271,581
(1,767,287
)
(88,482
)
5,450,507
18,192,151
23,609,492
7,620,220
18,026,470
18,114,952
48,258,648
30,066,497
25,892,016
18,271,796
$16,259,183
$18,026,470
$53,709,155
$48,258,648
$49,501,508
$25,892,016
350,002
350,002
1,500,002
950,002
750,002
550,002
—
—
50,000
950,000
950,000
900,000
(50,000
)
—
(50,000
)
(400,000
)
(350,000
)
(700,000
)
300,002
350,002
1,500,002
1,500,002
1,350,002
750,002
See Notes to Financial Statements
Page 43
First Trust Exchange-Traded Fund VI
Statements of Changes in Net Assets (Continued)
 
 
First Trust SMID Growth
Strength ETF (FSGS)
First Trust S-Network Streaming
& Gaming ETF (BNGE)
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year
Ended
3/31/2025 
Six Months
Ended
9/30/2025 
(Unaudited)
Year
Ended
3/31/2025 
OPERATIONS:
Net investment income (loss)
$1,367
$377,111
$46,350
$2,014
Net realized gain (loss)
(1,531,542
)
4,984,875
752,788
1,224,318
Net change in unrealized appreciation (depreciation)
5,520,722
(6,877,729
)
1,376,860
(585,199
)
Net increase (decrease) in net assets resulting from
operations
3,990,547
(1,515,743
)
2,175,998
641,133
 
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Investment operations
—
(684,687
)
(53,701
)
—
 
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold
10,133,280
 
33,054,762
 
3,449,792
 
2,600,806
 
Cost of shares redeemed
(11,854,559
) 
(42,563,880
) 
(1,875,869
) 
(3,897,082
) 
Net increase (decrease) in net assets resulting from
shareholder transactions
(1,721,279
)
(9,509,118
)
1,573,923
(1,296,276
)
Total increase (decrease) in net assets
2,269,268
(11,709,548
)
3,696,220
(655,143
)
 
NET ASSETS:
Beginning of period
27,392,769
39,102,317
4,393,059
5,048,202
End of period
$29,662,037
$27,392,769
$8,089,279
$4,393,059
 
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period
1,000,002
1,350,002
150,002
200,002
Shares sold
350,000
1,050,000
100,000
100,000
Shares redeemed
(400,000
)
(1,400,000
)
(50,000
)
(150,000
)
Shares outstanding, end of period
950,002
1,000,002
200,002
150,002
 
(a)
Commenced investment operations on May 28, 2025.
See Notes to Financial Statements
Page 44
 
First Trust
Balanced
Income ETF
(FTBI)
Period
Ended
9/30/2025 (a)
(Unaudited)
$129,829
121,427
219,617
470,873
(134,491
)
25,612,890
 
(17,447,162
) 
8,165,728
8,502,110
—
$8,502,110
—
1,250,002
(850,000
)
400,002
See Notes to Financial Statements
Page 45
First Trust Exchange-Traded Fund VI
Financial Highlights
For a share outstanding throughout each period
First Trust Nasdaq Bank ETF (FTXO)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year Ended March 31,
 
2025
2024
2023
2022
2021 
Net asset value, beginning of period
$30.36
$27.12
$21.25
$31.75
$31.14
$15.64
Income from investment operations:
Net investment income (loss)
0.35
 (a)
0.74
 (a)
0.72
 (a)
0.83
 
0.61
 
0.59
 (a)
Net realized and unrealized gain (loss)
5.28
 
3.21
 (b)
5.92
 
(10.54
) 
0.61
 (b)
15.50
 
Total from investment operations
5.63
 
3.95
 
6.64
 
(9.71
) 
1.22
 
16.09
 
Distributions paid to shareholders from:
Net investment income
(0.38
) 
(0.71
) 
(0.77
) 
(0.79
) 
(0.61
) 
(0.59
) 
Net asset value, end of period
$35.61
 
$30.36
 
$27.12
 
$21.25
 
$31.75
 
$31.14
 
Total return (c)
18.59
% 
14.70
% 
31.97
% 
(30.94
)% 
3.89
% 
105.13
% 
 
Ratios to average net assets/supplemental
data:
Net assets, end of period (in 000’s)
$249,264
 
$224,649
 
$115,267
 
$164,708
 
$361,937
 
$227,293
 
Ratio of total expenses to average net assets
0.61
% (d) (e)
0.60
% 
0.60
% 
0.60
% 
0.60
% 
0.60
% 
Ratio of net investment income (loss) to
average net assets
2.17
% (d)
2.45
% 
3.23
% 
2.76
% 
1.91
% 
2.65
% 
Portfolio turnover rate (f)
15
% 
24
% 
41
% 
69
% 
78
% 
176
% 
 
(a)
Based on average shares outstanding.
(b)
The per share amount does not correlate with the aggregate realized and unrealized gain (loss) due to the timing of the Fund share sales and
repurchases in relation to market value fluctuation of the underlying investments.
(c)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(d)
Annualized.
(e)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
(f)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 46
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Nasdaq Food & Beverage ETF (FTXG)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year Ended March 31,
 
2025
2024
2023
2022
2021 
Net asset value, beginning of period
$23.62
$24.85
$26.93
$27.03
$25.66
$17.28
Income from investment operations:
Net investment income (loss)
0.29
 (a)
0.53
 (a)
0.46
 (a)
0.41
 
0.41
 
0.32
 
Net realized and unrealized gain (loss)
(2.16
) 
(1.12
) 
(1.48
) 
(0.13
) 
1.39
 
8.38
 
Total from investment operations
(1.87
) 
(0.59
) 
(1.02
) 
0.28
 
1.80
 
8.70
 
Distributions paid to shareholders from:
Net investment income
(0.32
) 
(0.64
) 
(1.06
) 
(0.38
) 
(0.43
) 
(0.32
) 
Net asset value, end of period
$21.43
 
$23.62
 
$24.85
 
$26.93
 
$27.03
 
$25.66
 
Total return (b)
(7.92
)% 
(2.38
)% 
(3.60
)% 
1.10
% 
7.13
% 
50.65
% 
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$18,217
 
$25,987
 
$57,162
 
$984,339
 
$10,810
 
$5,133
 
Ratio of total expenses to average net assets
0.62
% (c) (d)
0.60
% 
0.60
% 
0.60
% 
0.60
% 
0.60
% 
Ratio of net investment income (loss) to average net
assets
2.59
% (c)
2.21
% 
1.74
% 
1.71
% 
1.61
% 
1.44
% 
Portfolio turnover rate (e)
12
% 
20
% 
13
% 
78
% 
77
% 
131
% 
 
(a)
Based on average shares outstanding.
(b)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(c)
Annualized.
(d)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
(e)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 47
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Nasdaq Oil & Gas ETF (FTXN)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year Ended March 31,
 
2025
2024
2023
2022
2021 
Net asset value, beginning of period
$30.25
$32.28
$27.00
$26.47
$15.51
$8.10
Income from investment operations:
Net investment income (loss)
0.39
 (a)
0.71
 (a)
0.74
 (a)
0.69
 (a)
0.31
 
0.22
 
Net realized and unrealized gain (loss)
(1.78
) 
(1.98
) 
5.49
 
0.50
 (b)
10.96
 
7.39
 
Total from investment operations
(1.39
) 
(1.27
) 
6.23
 
1.19
 
11.27
 
7.61
 
Distributions paid to shareholders from:
Net investment income
(0.40
) 
(0.76
) 
(0.95
) 
(0.66
) 
(0.31
) 
(0.20
) 
Net asset value, end of period
$28.46
 
$30.25
 
$32.28
 
$27.00
 
$26.47
 
$15.51
 
Total return (c)
(4.56
)% 
(3.88
)% 
23.65
% 
4.66
% 
73.19
% 
95.16
% 
 
Ratios to average net assets/supplemental
data:
Net assets, end of period (in 000’s)
$116,669
 
$157,318
 
$222,705
 
$314,596
 
$1,147,631
 
$36,448
 
Ratio of total expenses to average net assets
0.62
% (d) (e)
0.60
% 
0.60
% 
0.60
% 
0.60
% 
0.60
% 
Ratio of net investment income (loss) to
average net assets
2.81
% (d)
2.35
% 
2.42
% 
2.54
% 
1.87
% 
2.01
% 
Portfolio turnover rate (f)
12
% 
32
% 
25
% 
100
% 
139
% 
136
% 
 
(a)
Based on average shares outstanding.
(b)
The per share amount does not correlate with the aggregate realized and unrealized gain (loss) due to the timing of the Fund share sales and
repurchases in relation to market value fluctuation of the underlying investments.
(c)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(d)
Annualized.
(e)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
(f)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 48
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Nasdaq Pharmaceuticals ETF (FTXH)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year Ended March 31,
 
2025
2024
2023
2022
2021 
Net asset value, beginning of period
$27.53
$28.00
$26.11
$26.63
$25.51
$19.36
Income from investment operations:
Net investment income (loss)
0.21
 (a)
0.45
 (a)
0.37
 (a)
0.33
 
0.27
 
0.24
 
Net realized and unrealized gain (loss)
1.02
 
(0.44
) 
1.90
 
(0.50
) 
1.10
 
6.14
 
Total from investment operations
1.23
 
0.01
 
2.27
 
(0.17
) 
1.37
 
6.38
 
Distributions paid to shareholders from:
Net investment income
(0.23
) 
(0.48
) 
(0.38
) 
(0.35
) 
(0.25
) 
(0.23
) 
Net asset value, end of period
$28.53
 
$27.53
 
$28.00
 
$26.11
 
$26.63
 
$25.51
 
Total return (b)
4.52
% 
0.04
% 
8.79
% 
(0.61
)% 
5.39
% 
33.00
% 
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$15,692
 
$15,143
 
$20,997
 
$32,640
 
$17,311
 
$19,133
 
Ratio of total expenses to average net assets
0.62
% (c) (d)
0.60
% 
0.60
% 
0.60
% 
0.60
% 
0.60
% 
Ratio of net investment income (loss) to average net
assets
1.59
% (c)
1.63
% 
1.40
% 
1.39
% 
0.97
% 
1.07
% 
Portfolio turnover rate (e)
19
% 
28
% 
29
% 
76
% 
77
% 
83
% 
 
(a)
Based on average shares outstanding.
(b)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(c)
Annualized.
(d)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
(e)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 49
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Nasdaq Semiconductor ETF (FTXL)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year Ended March 31,
 
2025
2024
2023
2022
2021 
Net asset value, beginning of period
$75.69
$90.61
$64.79
$69.97
$64.74
$33.00
Income from investment operations:
Net investment income (loss)
0.20
 (a)
0.45
 (a)
0.51
 (a)
0.46
 
0.27
 
0.23
 
Net realized and unrealized gain (loss)
36.14
 
(14.94
) 
25.79
 
(5.14
) (b)
5.22
 
31.75
 
Total from investment operations
36.34
 
(14.49
) 
26.30
 
(4.68
) 
5.49
 
31.98
 
Distributions paid to shareholders from:
Net investment income
(0.21
) 
(0.43
) 
(0.48
) 
(0.50
) 
(0.26
) 
(0.24
) 
Net asset value, end of period
$111.82
 
$75.69
 
$90.61
 
$64.79
 
$69.97
 
$64.74
 
Total return (c)
48.05
% 
(16.07
)% 
40.73
% 
(6.54
)% 
8.46
% 
97.11
% 
 
Ratios to average net assets/supplemental
data:
Net assets, end of period (in 000’s)
$318,678
 
$234,634
 
$1,436,238
 
$988,096
 
$108,451
 
$84,156
 
Ratio of total expenses to average net assets
0.61
% (d) (e)
0.60
% 
0.60
% 
0.60
% 
0.60
% 
0.60
% 
Ratio of net investment income (loss) to
average net assets
0.43
% (d)
0.49
% 
0.70
% 
0.78
% 
0.40
% 
0.45
% 
Portfolio turnover rate (f)
20
% 
19
% 
28
% 
46
% 
58
% 
113
% 
 
(a)
Based on average shares outstanding.
(b)
The per share amount does not correlate with the aggregate realized and unrealized gain (loss) due to the timing of the Fund share sales and
repurchases in relation to market value fluctuation of the underlying investments.
(c)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(d)
Annualized.
(e)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
(f)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 50
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Nasdaq Transportation ETF (FTXR)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year Ended March 31,
 
2025
2024
2023
2022
2021 
Net asset value, beginning of period
$29.74
$32.28
$27.24
$32.28
$32.88
$15.11
Income from investment operations:
Net investment income (loss)
0.21
 (a)
0.45
 (a)
0.35
 (a)
0.56
 
0.45
 
0.04
 
Net realized and unrealized gain (loss)
5.40
 
(2.26
) 
5.10
 
(5.04
) 
(0.62
) 
17.79
 
Total from investment operations
5.61
 
(1.81
) 
5.45
 
(4.48
) 
(0.17
) 
17.83
 
Distributions paid to shareholders from:
Net investment income
(0.30
) 
(0.73
) 
(0.41
) 
(0.56
) 
(0.43
) 
(0.06
) 
Net asset value, end of period
$35.05
 
$29.74
 
$32.28
 
$27.24
 
$32.28
 
$32.88
 
Total return (b)
18.94
% 
(5.79
)% 
20.13
% 
(13.76
)% 
(0.53
)% 
118.10
% 
 
Ratios to average net assets/supplemental
data:
Net assets, end of period (in 000’s)
$35,049
 
$28,248
 
$40,346
 
$47,665
 
$280,842
 
$1,071,854
 
Ratio of total expenses to average net assets
0.61
% (c) (d)
0.60
% 
0.60
% 
0.60
% 
0.60
% 
0.60
% 
Ratio of net investment income (loss) to
average net assets
1.28
% (c)
1.39
% 
1.22
% 
1.42
% 
0.92
% 
0.10
% 
Portfolio turnover rate (e)
20
% 
27
% 
37
% 
71
% 
43
% 
129
% 
 
(a)
Based on average shares outstanding.
(b)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(c)
Annualized.
(d)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
(e)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 51
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust S-Network E-Commerce ETF (ISHP)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year Ended March 31,
 
2025
2024
2023
2022
2021 
Net asset value, beginning of period
$36.24
$29.83
$26.62
$30.98
$31.48
$18.10
Income from investment operations:
Net investment income (loss)
0.18
 (a)
0.24
 (a)
0.20
 (a)
0.06
 (a)
0.26
 
0.19
 
Net realized and unrealized gain (loss)
5.72
 
6.53
 
3.46
 
(4.28
) 
(0.54
) 
13.39
 
Total from investment operations
5.90
 
6.77
 
3.66
 
(4.22
) 
(0.28
) 
13.58
 
Distributions paid to shareholders from:
Net investment income
(0.23
) 
(0.36
) 
(0.45
) 
(0.14
) 
(0.22
) 
(0.20
) 
Net asset value, end of period
$41.91
 
$36.24
 
$29.83
 
$26.62
 
$30.98
 
$31.48
 
Total return (b)
16.31
% 
22.82
% 
13.99
% 
(13.57
)% 
(0.94
)% 
75.23
% 
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$6,286
 
$7,248
 
$4,474
 
$5,324
 
$18,586
 
$9,444
 
Ratio of total expenses to average net assets
0.61
% (c) (d)
0.60
% 
0.60
% 
0.60
% 
0.60
% 
0.60
% 
Ratio of net investment income (loss) to average net
assets
0.91
% (c)
0.70
% 
0.73
% 
0.23
% 
0.91
% 
0.70
% 
Portfolio turnover rate (e)
19
% 
41
% 
36
% 
95
% 
213
% 
114
% 
 
(a)
Based on average shares outstanding.
(b)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(c)
Annualized.
(d)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
(e)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 52
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
Emerging Markets Equity Select ETF (RNEM)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year Ended March 31,
 
2025
2024
2023
2022
2021 
Net asset value, beginning of period
$51.50
$51.76
$44.78
$48.61
$49.21
$37.80
Income from investment operations:
Net investment income (loss)
0.96
 (a)
1.21
 (a)
1.12
 (a)
1.57
 
1.61
 
1.15
 
Net realized and unrealized gain (loss)
2.93
 
0.23
 
6.70
 
(4.13
) 
(0.67
) 
11.64
 
Total from investment operations
3.89
 
1.44
 
7.82
 
(2.56
) 
0.94
 
12.79
 
Distributions paid to shareholders from:
Net investment income
(1.19
) 
(1.45
) 
(0.84
) 
(1.27
) 
(1.20
) 
(1.38
) 
Net realized gain
—
 
(0.25
) 
—
 
—
 
—
 
—
 
Return of capital
—
 
—
 
—
 
—
 
(0.34
) 
—
 
Total distributions
(1.19
) 
(1.70
) 
(0.84
) 
(1.27
) 
(1.54
) 
(1.38
) 
Net asset value, end of period
$54.20
 
$51.50
 
$51.76
 
$44.78
 
$48.61
 
$49.21
 
Total return (b)
7.54
% 
2.80
% 
17.61
% 
(4.97
)% 
1.91
% 
34.44
% 
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$16,259
 
$18,026
 
$18,115
 
$8,956
 
$7,292
 
$7,381
 
Ratio of total expenses to average net assets
0.76
% (c) (d)
0.76
% (e)
0.75
% 
0.75
% 
0.75
% 
0.75
% 
Ratio of net investment income (loss) to average net
assets
3.55
% (c)
2.34
% 
2.29
% 
3.61
% 
3.30
% 
2.94
% 
Portfolio turnover rate (f)
35
% 
60
% 
104
% 
65
% 
72
% 
75
% 
 
(a)
Based on average shares outstanding.
(b)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(c)
Annualized.
(d)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.75%.
(e)
Includes other expenses. If these other expenses were not included, the expense ratio would have been 0.75%.
(f)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 53
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust S&P 500 Diversified Dividend Aristocrats ETF (KNGZ)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year Ended March 31,
 
2025
2024
2023
2022
2021 
Net asset value, beginning of period
$32.17
$31.65
$28.37
$30.48
$28.07
$17.50
Income from investment operations:
Net investment income (loss)
0.48
 (a)
0.90
 (a)
0.84
 (a)
0.79
 
0.64
 
0.58
 
Net realized and unrealized gain (loss)
3.63
 
0.47
 
3.32
 
(2.14
) 
2.40
 
10.61
 
Total from investment operations
4.11
 
1.37
 
4.16
 
(1.35
) 
3.04
 
11.19
 
Distributions paid to shareholders from:
Net investment income
(0.47
) 
(0.85
) 
(0.88
) 
(0.76
) 
(0.63
) 
(0.62
) 
Net asset value, end of period
$35.81
 
$32.17
 
$31.65
 
$28.37
 
$30.48
 
$28.07
 
Total return (b)
12.84
% 
4.32
% 
14.95
% 
(4.28
)% 
10.86
% 
64.82
% 
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$53,709
 
$48,259
 
$30,066
 
$25,534
 
$18,291
 
$8,422
 
Ratio of total expenses to average net assets
0.51
% (c) (d)
0.50
% 
0.50
% 
0.50
% 
0.50
% 
0.50
% 
Ratio of net investment income (loss) to average net
assets
2.91
% (c)
2.74
% 
2.93
% 
3.00
% 
2.33
% 
2.65
% 
Portfolio turnover rate (e)
19
% 
38
% 
107
% 
52
% 
41
% 
89
% 
 
(a)
Based on average shares outstanding.
(b)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(c)
Annualized.
(d)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.50%.
(e)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 54
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust SMID Capital Strength ETF (FSCS)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year Ended March 31,
 
2025
2024
2023
2022
2021 
Net asset value, beginning of period
$34.52
$33.22
$27.55
$29.40
$27.75
$15.85
Income from investment operations:
Net investment income (loss)
0.15
 (a)
0.32
 (a)
0.50
 (a)
0.49
 
0.35
 
0.33
 
Net realized and unrealized gain (loss)
2.12
 
1.36
 
5.60
 
(1.84
) 
1.65
 
11.90
 
Total from investment operations
2.27
 
1.68
 
6.10
 
(1.35
) 
2.00
 
12.23
 
Distributions paid to shareholders from:
Net investment income
(0.12
) 
(0.38
) 
(0.43
) 
(0.50
) 
(0.35
) 
(0.33
) 
Net asset value, end of period
$36.67
 
$34.52
 
$33.22
 
$27.55
 
$29.40
 
$27.75
 
Total return (b)
6.59
% 
5.07
% 
22.33
% 
(4.47
)% 
7.26
% 
77.60
% 
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$49,502
 
$25,892
 
$18,272
 
$12,397
 
$16,171
 
$16,647
 
Ratio of total expenses to average net assets
0.61
% (c) (d)
0.60
% 
0.60
% 
0.60
% 
0.60
% 
0.60
% 
Ratio of net investment income (loss) to average net
assets
0.83
% (c)
0.92
% 
1.71
% 
1.71
% 
1.22
% 
1.46
% 
Portfolio turnover rate (e)
63
% 
169
% (f)
45
% 
51
% 
43
% 
60
% 
 
(a)
Based on average shares outstanding.
(b)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(c)
Annualized.
(d)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
(e)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
(f)
The variation in the portfolio turnover rate is due to the change in the Fund’s underlying index effective June 7, 2024, which resulted in a
complete rebalance of the Fund’s portfolio.
See Notes to Financial Statements
Page 55
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust SMID Growth Strength ETF (FSGS)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year Ended March 31,
 
2025
2024
2023
2022
2021 
Net asset value, beginning of period
$27.39
$28.96
$26.56
$28.97
$28.18
$14.87
Income from investment operations:
Net investment income (loss)
0.00
 (a) (b)
0.39
 (b)
0.62
 (b)
0.56
 
0.46
 
0.28
 
Net realized and unrealized gain (loss)
3.83
 
(1.20
) 
2.38
 
(2.42
) 
0.78
 
13.34
 
Total from investment operations
3.83
 
(0.81
) 
3.00
 
(1.86
) 
1.24
 
13.62
 
Distributions paid to shareholders from:
Net investment income
—
 
(0.76
) 
(0.60
) 
(0.55
) 
(0.45
) 
(0.31
) 
Net asset value, end of period
$31.22
 
$27.39
 
$28.96
 
$26.56
 
$28.97
 
$28.18
 
Total return (c)
13.98
% 
(2.92
)% 
11.45
% 
(6.28
)% 
4.39
% 
92.49
% 
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$29,662
 
$27,393
 
$39,102
 
$27,887
 
$21,725
 
$9,864
 
Ratio of total expenses to average net assets
0.61
% (d) (e)
0.60
% 
0.60
% 
0.60
% 
0.60
% 
0.60
% 
Ratio of net investment income (loss) to average net
assets
0.01
% (d)
1.35
% 
2.29
% 
2.22
% 
1.79
% 
1.37
% 
Portfolio turnover rate (f)
72
% 
172
% (g)
52
% 
72
% 
49
% 
71
% 
 
(a)
Amount represents less than $0.01.
(b)
Based on average shares outstanding.
(c)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(d)
Annualized.
(e)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
(f)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
(g)
The variation in the portfolio turnover rate is due to the change in the Fund’s underlying index effective December 3, 2024, which resulted in a
complete rebalance of the Fund’s portfolio.
See Notes to Financial Statements
Page 56
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust S-Network Streaming & Gaming ETF (BNGE)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year Ended March 31,
Period
Ended 
3/31/2022 (a)
 
2025
2024
2023
Net asset value, beginning of period
$29.29
$25.24
$21.05
$23.28
$24.46
Income from investment operations:
Net investment income (loss)
0.24
 (b)
0.01
 (b)
0.04
 (b)
0.04
 
0.03
 
Net realized and unrealized gain (loss)
11.19
 
4.04
 
4.34
 
(2.17
) 
(1.20
) 
Total from investment operations
11.43
 
4.05
 
4.38
 
(2.13
) 
(1.17
) 
Distributions paid to shareholders from:
Net investment income
(0.27
) 
—
 
(0.17
) 
(0.08
) 
(0.00
) (c)
Net realized gain
—
 
—
 
—
 
(0.02
) 
—
 
Return of capital
—
 
—
 
(0.02
) 
—
 
—
 
Total distributions
(0.27
) 
—
 
(0.19
) 
(0.10
) 
(0.00
) (c)
Net asset value, end of period
$40.45
 
$29.29
 
$25.24
 
$21.05
 
$23.28
 
Total return (d)
39.11
% 
16.05
% 
20.89
% 
(9.08
)% 
(4.81
)% 
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$8,089
 
$4,393
 
$5,048
 
$4,210
 
$3,492
 
Ratio of total expenses to average net assets
0.72
% (e) (f)
0.70
% 
0.70
% 
0.70
% 
0.71
% (e)
Ratio of net investment income (loss) to average net assets
1.36
% (e)
0.04
% 
0.20
% 
0.17
% 
0.47
% (e)
Portfolio turnover rate (g)
12
% 
31
% 
30
% 
42
% 
0
% 
 
(a)
Inception date is January 25, 2022, which is consistent with the commencement of investment operations and is the date the initial creation units
were established.
(b)
Based on average shares outstanding.
(c)
Amount represents less than $0.01.
(d)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(e)
Annualized.
(f)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.70%.
(g)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 57
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout the period
First Trust Balanced Income ETF (FTBI)
 
 
Period
Ended
9/30/2025 (a)
(Unaudited)
 
Net asset value, beginning of period
$19.93
Income from investment operations:
Net investment income (loss) (b)
0.49
 
Net realized and unrealized gain (loss)
1.33
 
Total from investment operations
1.82
 
Distributions paid to shareholders from:
Net investment income
(0.49
) 
Net asset value, end of period
$21.26
 
Total return (c)
9.19
% 
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$8,502
 
Ratio of total expenses to average net assets (d)
0.25
% (e)
Ratio of net investment income (loss) to average net assets (d)
6.83
% (e)
Portfolio turnover rate (f)
10
% 
 
(a)
Inception date is May 28, 2025, which is consistent with the commencement of investment operations and is the date the initial creation units
were established.
(b)
Based on average shares outstanding.
(c)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The return presented does not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(d)
Ratio of total expenses to average net assets and ratio of net investment income (loss) to average net assets do not reflect the Fund’s
proportionate share of expenses and income of underlying investment companies in which the Fund invests.
(e)
Annualized.
(f)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 58
Notes to Financial Statements
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)

1. Organization
First Trust Exchange-Traded Fund VI (the “Trust”) is an open-end management investment company organized as a Massachusetts business trust on June 4, 2012, and is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the “1940 Act”).
This report covers the thirteen funds (each a “Fund” and collectively, the “Funds”) listed below, each listed and traded on Nasdaq, Inc. (“Nasdaq”) with the exception of BNGE and FTBI which are listed and traded on NYSE Arca, Inc.
 
First Trust Nasdaq Bank ETF – (ticker “FTXO”)
First Trust Nasdaq Food & Beverage ETF – (ticker “FTXG”)
First Trust Nasdaq Oil & Gas ETF – (ticker “FTXN”)
First Trust Nasdaq Pharmaceuticals ETF – (ticker “FTXH”)
First Trust Nasdaq Semiconductor ETF – (ticker “FTXL”)
First Trust Nasdaq Transportation ETF – (ticker “FTXR”)
First Trust S-Network E-Commerce ETF – (ticker “ISHP”)
Emerging Markets Equity Select ETF – (ticker “RNEM”)
First Trust S&P 500 Diversified Dividend Aristocrats ETF – (ticker “KNGZ”)
First Trust SMID Capital Strength ETF – (ticker “FSCS”)
First Trust SMID Growth Strength ETF – (ticker “FSGS”)
First Trust S-Network Streaming & Gaming ETF – (ticker “BNGE”)
First Trust Balanced Income ETF – (ticker “FTBI”)(1)
 
(1)
Commenced investment operations on May 28, 2025.
Each of FTXO, FTXG, FTXN, FTXH, FTXL, FTXR, BNGE, and FTBI operates as a non-diversified series of the Trust. Each of ISHP, RNEM, KNGZ, FSCS and FSGS operates as a diversified open-end management investment company as defined in section 5(b) of the 1940 Act. Each Fund represents a separate series of shares of beneficial interest in the Trust. Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at net asset value (“NAV”), only in large blocks of shares known as “Creation Units.” The investment objective of each Fund is to seek investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of the following indices:
 
Fund
Index
First Trust Nasdaq Bank ETF
Nasdaq US Smart BanksTM Index
First Trust Nasdaq Food & Beverage ETF
Nasdaq US Smart Food & BeverageTM Index
First Trust Nasdaq Oil & Gas ETF
Nasdaq US Smart Oil & GasTM Index
First Trust Nasdaq Pharmaceuticals ETF
Nasdaq US Smart PharmaceuticalsTM Index
First Trust Nasdaq Semiconductor ETF
Nasdaq US Smart SemiconductorTM Index
First Trust Nasdaq Transportation ETF
Nasdaq US Smart TransportationTM Index
First Trust S-Network E-Commerce ETF
S-Network Global E-Commerce IndexTM
Emerging Markets Equity Select ETF
Nasdaq Riskalyze Emerging MarketsTM Index
First Trust S&P 500 Diversified Dividend Aristocrats ETF
S&P 500® Sector-Neutral Dividend Aristocrats Index
First Trust SMID Capital Strength ETF
The SMID Capital Strength Index
First Trust SMID Growth Strength ETF
The SMID Growth Strength Index
First Trust S-Network Streaming & Gaming ETF
S-Network Streaming & Gaming Index
First Trust Balanced Income ETF
Bloomberg Moderate Allocation Income Focus Index
2. Significant Accounting Policies
The Funds are each considered an investment company and follow accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, “Financial Services-Investment Companies.” The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of the financial statements. The preparation of the financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.
Page 59
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
A. Portfolio Valuation
Each Fund’s NAV is determined daily as of the close of regular trading on the New York Stock Exchange (“NYSE”), normally 4:00 p.m. Eastern time, on each day the NYSE is open for trading. If the NYSE closes early on a valuation day, the NAV is determined as of that time. Foreign securities are priced using data reflecting the earlier closing of the principal markets for those securities. Each Fund’s NAV is calculated by dividing the value of all assets of each Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of shares outstanding.
Each Fund’s investments are valued daily at market value or, in the absence of market value with respect to any portfolio securities, at fair value. Market value prices represent readily available market quotations such as last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. Fair value prices represent any prices not considered market value prices and are either obtained from a third-party pricing service or are determined by the Pricing Committee of the Funds’ investment advisor, First Trust Advisors L.P. (“First Trust” or the “Advisor”), in accordance with valuation procedures approved by the Trust’s Board of Trustees, and in accordance with provisions of the 1940 Act and rules thereunder. Investments valued by the Advisor’s Pricing Committee, if any, are footnoted as such in the footnotes to the Portfolio of Investments. Each Fund’s investments are valued as follows:
Common stocks, exchange-traded funds, and other equity securities listed on any national or foreign exchange (excluding Nasdaq and the London Stock Exchange Alternative Investment Market (“AIM”)) are valued at the last sale price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price. Securities traded on more than one securities exchange are valued at the last sale price or official closing price, as applicable, at the close of the securities exchange representing the primary exchange for such securities.
Securities trading on foreign exchanges or over-the-counter markets that close prior to the NYSE close may be valued using a systematic fair valuation model provided by a third-party pricing service. If these foreign securities meet certain criteria in relation to the valuation model, their valuation is systematically adjusted to reflect the impact of movement in the U.S. market after the close of the foreign markets.
Shares of open-end funds are valued based on NAV per share.
Equity securities traded in an over-the-counter market are valued at the close price or the last trade price.
Overnight repurchase agreements are valued at amortized cost when it represents the most appropriate reflection of fair market value.
Certain securities may not be able to be priced by pre-established pricing methods. Such securities may be valued by the Advisor’s Pricing Committee at fair value. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933, as amended) for which a third-party pricing service is unable to provide a market price; securities whose trading has been formally suspended; a security whose market or fair value price is not available from a pre-established pricing source; a security with respect to which an event has occurred that is likely to materially affect the value of the security after the market has closed but before the calculation of a Fund’s NAV or make it difficult or impossible to obtain a reliable market quotation; and a security whose price, as provided by the third-party pricing service, does not reflect the security’s fair value. As a general principle, the current fair value of a security would appear to be the amount which the owner might reasonably expect to receive for the security upon its current sale. When fair value prices are used, generally they will differ from market quotations or official closing prices on the applicable exchanges. A variety of factors may be considered in determining the fair value of such securities, including, but not limited to, the following:
 1)
the last sale price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price;
 2)
the type of security;
 3)
the size of the holding;
 4)
the initial cost of the security;
 5)
transactions in comparable securities;
 6)
price quotes from dealers and/or third-party pricing services;
 7)
relationships among various securities;
 8)
information obtained by contacting the issuer, analysts, or the appropriate stock exchange;
 9)
an analysis of the issuer’s financial statements;
Page 60
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
10)
the existence of merger proposals or tender offers that might affect the value of the security; and
11)
other relevant factors.
If the securities in question are foreign securities, the following additional information may be considered:
 1)
the last sale price on the exchange on which they are principally traded;
 2)
the value of similar foreign securities traded on other foreign markets;
 3)
ADR trading of similar securities;
 4)
closed-end fund or exchange-traded fund trading of similar securities;
 5)
foreign currency exchange activity;
 6)
the trading prices of financial products that are tied to baskets of foreign securities;
 7)
factors relating to the event that precipitated the pricing problem;
 8)
whether the event is likely to recur;
 9)
whether the effects of the event are isolated or whether they affect entire markets, countries or regions; and
10)
other relevant factors.
In addition, differences between the prices used to calculate a Fund’s NAV and the prices used by such Fund’s corresponding index could result in a difference between a Fund’s performance and the performance of its underlying index.
Because foreign markets may be open on different days than the days during which investors may transact in the shares of a Fund, the value of the Fund’s securities may change on the days when investors are not able to transact in the shares of the Fund. The value of the securities denominated in foreign currencies is converted into U.S. dollars using exchange rates determined daily as of the close of regular trading on the NYSE. Any use of a different rate from the rates used by a relevant index may adversely affect the Fund’s ability to track the index.
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. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
•  Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following:
o  Quoted prices for similar investments in active markets.
o  Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly.
o  Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates).
o  Inputs that are derived principally from or corroborated by observable market data by correlation or other means.
•  Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs 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. A summary of the inputs used to value each Fund’s investments as of September 30, 2025, is included with each Fund’s Portfolio of Investments.
B. Securities Transactions and Investment Income
Securities transactions are recorded as of the trade date. Realized gains and losses from securities transactions are recorded on the identified cost basis. Dividend income is recorded on the ex-dividend date except that certain dividends from foreign securities are recorded as soon as the information becomes available after the ex-dividend date. Interest income, if any, is recorded on the accrual basis.
Withholding taxes and tax reclaims on foreign dividends have been provided for in accordance with each Fund’s understanding of the applicable country’s tax rules and rates.
Page 61
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
Distributions received from a Fund’s investments in real estate investment trusts (“REITs”) may be comprised of return of capital, capital gains, and income. The actual character of the amounts received during the year are not known until after the REITs’ fiscal year end. A Fund records the character of distributions received from the REITs during the year based on estimates available. The characterization of distributions received by a Fund may be subsequently revised based on information received from the REITs after their tax reporting periods conclude.
C. Offsetting on the Statements of Assets and Liabilities
Offsetting assets and liabilities requires entities to disclose both gross and net information about instruments and transactions eligible for offset on the Statements of Assets and Liabilities and disclose instruments and transactions subject to master netting or similar agreements. These disclosure requirements are intended to help investors and other financial statement users better assess the effect or potential effect of offsetting arrangements on a Fund’s financial position. The transactions subject to offsetting disclosures are derivative instruments, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions.
This disclosure, if applicable, is included within each Fund’s Portfolio of Investments under the heading “Offsetting Assets and Liabilities.” For financial reporting purposes, the Funds do not offset financial assets and financial liabilities that are subject to master netting arrangements (“MNAs”) or similar agreements on the Statements of Assets and Liabilities. MNAs provide the right, in the event of default (including bankruptcy and insolvency), for the non-defaulting counterparty to liquidate the collateral and calculate the net exposure to the defaulting party or request additional collateral.
D. Foreign Currency
The books and records of the Funds are maintained in U.S. dollars. Foreign currencies, investments and other assets and liabilities are translated into U.S. dollars at the exchange rates prevailing at the end of the period. Purchases and sales of investments and items of income and expense are translated on the respective dates of such transactions. Unrealized gains and losses on assets and liabilities, other than investments in securities, which result from changes in foreign currency exchange rates have been included in “Net change in unrealized appreciation (depreciation) on foreign currency translation” on the Statements of Operations. Unrealized gains and losses on investments in securities which result from changes in foreign exchange rates are included with fluctuations arising from changes in market price and are shown in “Net change in unrealized appreciation (depreciation) on investments” on the Statements of Operations. Net realized foreign currency gains and losses include the effect of changes in exchange rates between trade date and settlement date on investment security transactions, foreign currency transactions and interest and dividends received and are included in “Net realized gain (loss) on foreign currency transactions” on the Statements of Operations. The portion of foreign currency gains and losses related to fluctuations in exchange rates between the initial purchase settlement date and subsequent sale trade date is included in “Net realized gain (loss) on investments” on the Statements of Operations.
E. Affiliated Transactions
FTBI invests in securities of affiliated funds. The Fund’s investment performance and risks are directly related to the investment performance and risks of the affiliated funds. The affiliated funds’ financial statements may be found at SEC.gov. Dividend income, if any, realized gains and losses, and change in appreciation (depreciation) from affiliated funds are presented on the Statements of Operations.
Amounts relating to investments in affiliated funds in FTBI at September 30, 2025, and for the period then ended are as follows:
 
Security Name
Shares at
9/30/2025
Value at
5/28/2025
Purchases
Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value at
9/30/2025
Dividend
Income
First Trust BuyWrite Income ETF
71,912
$—
$5,165,611
$(3,534,870
)
$43,832
$30,461
$1,705,034
$33,432
First Trust Core Investment Grade
ETF
27,570
—
1,813,299
(1,237,375
)
8,455
3,138
587,517
5,909
First Trust Intermediate Duration
Investment Grade Corporate ETF
17,232
—
1,135,773
(776,807
)
4,650
2,219
365,835
3,796
First Trust Intermediate
Government Opportunities ETF
16,816
—
1,054,754
(717,578
)
5,555
1,493
344,224
3,813
Page 62
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
Security Name
Shares at
9/30/2025
Value at
5/28/2025
Purchases
Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value at
9/30/2025
Dividend
Income
First Trust Limited Duration
Investment Grade Corporate ETF
18,911
$—
$1,127,746
$(767,133
)
$1,703
$964
$363,280
$3,769
First Trust Long Duration
Opportunities ETF
15,841
—
1,065,713
(728,085
)
6,676
238
344,542
3,162
First Trust Low Duration
Opportunities ETF
6,850
—
1,054,447
(716,771
)
3,101
284
341,061
3,202
First Trust Nasdaq BuyWrite
Income ETF
42,079
—
2,418,753
(1,593,632
)
30,929
10,777
866,827
22,212
First Trust Smith Opportunistic
Fixed Income ETF
13,201
—
1,814,223
(1,239,212
)
8,498
2,879
586,388
5,945
FT Vest Gold Strategy Target
Income ETF®
18,969
—
1,433,463
(1,013,628
)
39,398
(5,115
)
454,118
5,490
FT Vest Rising Dividend Achievers
Target Income ETF
21,978
—
1,776,607
(1,240,964
)
17,188
15,300
568,131
10,825
FT Vest S&P 500® Dividend
Aristocrats Target Income ETF®
11,010
—
1,735,032
(1,196,854
)
(7,103
)
11,828
542,903
6,801
FT Vest SMID Rising Dividend
Achievers Target Income ETF
26,072
—
1,697,108
(1,152,852
)
11,333
8,088
563,677
10,776
FT Vest Technology Dividend
Target Income ETF
30,152
—
2,822,230
(2,038,824
)
45,402
35,047
863,855
15,488
 
$—
$26,114,759
$(17,954,585
)
$219,617
$117,601
$8,497,392
$134,620
F. Securities Lending
The Funds may lend securities representing up to 33 1/3% of the value of their total assets to broker-dealers, banks and other institutions to generate additional income. When a Fund loans its portfolio securities, it will receive, at the inception of each loan, collateral equal to at least 102% (for domestic securities) or 105% (for international securities) of the market value of the loaned securities. The collateral amount is valued at the beginning of each business day and is compared to the market value of the loaned securities from the prior business day to determine if additional collateral is required. If additional collateral is required, a request is sent to the borrower. Securities lending involves the risk that the Fund may lose money because the borrower of the Fund’s loaned securities fails to return the securities in a timely manner or at all. The Fund could also lose money in the event of (i) a decline in the value of the collateral provided for the loaned securities, (ii) a decline in the value of any investments made with cash collateral or (iii) an increase in the value of the loaned securities if the borrower does not increase the collateral accordingly and the borrower fails to return the securities. These events could also trigger adverse tax consequences for the Funds.
Under the Funds’ Securities Lending Agency Agreement, the securities lending agent will generally bear the risk that a borrower may default on its obligation to return loaned securities. The Bank of New York Mellon (“BNY”) acts as the Funds’ securities lending agent and is responsible for executing the lending of the portfolio securities to creditworthy borrowers. The Funds, however, will be responsible for the risks associated with the investment of cash collateral. A Fund may lose money on its investment of cash collateral, which may affect its ability to repay the collateral to the borrower without the use of other Fund assets. Each Fund that engages in securities lending receives compensation (net of any rebate and securities lending agent fees) for lending its securities. Compensation can be in the form of fees received from the securities lending agent or dividends or interest earned from the investment of cash collateral. The fees received from the securities lending agent are accrued daily. The dividend and interest earned on the securities loaned is accounted for in the same manner as other dividend and interest income. At September 30, 2025, FSGS and BNGE had securities in the securities lending program. During the six months ended September 30, 2025, FTXN, FTXR, FSGS, and BNGE participated in the securities lending program.
In the event of a default by a borrower with respect to any loan, BNY will exercise any and all remedies provided under the applicable borrower agreement to make the Funds whole. These remedies include purchasing replacement securities by applying the collateral held from the defaulting broker against the purchase cost of the replacement securities. If, despite such efforts by BNY to exercise these remedies, a Fund sustains losses as a result of a borrower’s default, BNY will indemnify the Fund by purchasing replacement
Page 63
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
securities at its own expense, or paying the Fund an amount equal to the market value of the replacement securities, subject to certain limitations which are set forth in detail in the Securities Lending Agency Agreement between the Trust on behalf of the Funds and BNY.
G. Repurchase Agreements
Repurchase agreements involve the purchase of securities subject to the seller’s agreement to repurchase the securities at a mutually agreed upon date and price, under the terms of a Master Repurchase Agreement (“MRA”). During the term of a repurchase agreement, the value of the underlying securities held as collateral on behalf of a Fund, including accrued interest, is required to exceed the value of the repurchase agreement, including accrued interest. The underlying securities for all repurchase agreements are held at the Funds’ custodian or designated sub-custodians under tri-party repurchase agreements.
MRAs govern transactions between a Fund and select counterparties. The MRAs contain provisions for, among other things, initiation, income payments, events of default, and maintenance of collateral for repurchase agreements.
Repurchase agreements received for lending securities are collateralized by U.S. Treasury securities. The U.S. Treasury securities are held in a joint custody account at BNY on behalf of the Funds participating in the securities lending program. In the event the counterparty defaults on the repurchase agreement, the U.S. Treasury securities can either be maintained as part of a Fund’s portfolio or sold for cash. A Fund could suffer a loss to the extent that the proceeds from the sale of the underlying collateral held by the Fund are less than the repurchase price and the Fund’s costs associated with the delay and enforcement of the MRA.
While the Funds may invest in repurchase agreements, any repurchase agreements held by the Funds during the six months ended September 30, 2025, were received as collateral for lending securities.
H. Dividends and Distributions to Shareholders
Dividends from net investment income of each Fund, if any, are declared and paid quarterly, except for FTBI which pays monthly, or as the Board of Trustees may determine from time to time. Distributions of net realized capital gains earned by each Fund, if any, are distributed at least annually. Each Fund may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.
Distributions from net investment income and realized capital gains are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These permanent differences are primarily due to the varying treatment of income and gain/loss on portfolio securities held by the Funds and have no impact on net assets or NAV per share. Temporary differences, which arise from recognizing certain items of income, expense and gain/loss in different periods for financial statement and tax purposes, will reverse at some time in the future.
The tax character of distributions paid by each Fund during the fiscal year ended March 31, 2025 were as follows:
 
 
Distributions
paid from
Ordinary
Income
Distributions
paid from
Capital
Gains
Distributions
paid from
Return of
Capital
First Trust Nasdaq Bank ETF
$3,320,362
$—
$—
First Trust Nasdaq Food & Beverage ETF
834,902
—
—
First Trust Nasdaq Oil & Gas ETF
4,495,771
—
—
First Trust Nasdaq Pharmaceuticals ETF
295,661
—
—
First Trust Nasdaq Semiconductor ETF
5,946,221
—
—
First Trust Nasdaq Transportation ETF
725,591
—
—
First Trust S-Network E-Commerce ETF
54,106
—
—
Emerging Markets Equity Select ETF
594,513
—
—
First Trust S&P 500 Diversified Dividend Aristocrats ETF
1,084,391
—
—
First Trust SMID Capital Strength ETF
220,811
—
—
First Trust SMID Growth Strength ETF
684,687
—
—
First Trust S-Network Streaming & Gaming ETF
—
—
—
Page 64
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
As of March 31, 2025, the components of distributable earnings on a tax basis for each Fund were as follows:
 
 
Undistributed
Ordinary
Income
Accumulated
Capital and
Other
Gain (Loss)
Net
Unrealized
Appreciation
(Depreciation)
First Trust Nasdaq Bank ETF
$476,758
$(160,068,594
)
$1,907,091
First Trust Nasdaq Food & Beverage ETF
29,695
(73,461,225
)
(3,627,348
)
First Trust Nasdaq Oil & Gas ETF
66,667
(87,941,177
)
2,495,633
First Trust Nasdaq Pharmaceuticals ETF
10,140
(4,280,537
)
(1,384,637
)
First Trust Nasdaq Semiconductor ETF
134,121
(68,264,228
)
(29,269,951
)
First Trust Nasdaq Transportation ETF
81,260
(63,982,527
)
(1,186,615
)
First Trust S-Network E-Commerce ETF
12,164
(5,506,610
)
131,422
Emerging Markets Equity Select ETF
95,678
—
472,216
First Trust S&P 500 Diversified Dividend Aristocrats ETF
79,021
(3,090,103
)
(399,241
)
First Trust SMID Capital Strength ETF
6,105
(4,451,635
)
(367,793
)
First Trust SMID Growth Strength ETF
—
(7,312,942
)
(3,532,505
)
First Trust S-Network Streaming & Gaming ETF
21,607
(266,660
)
52,908
I. Income and Other Taxes
Each Fund intends to qualify or continue to qualify as a regulated investment company by complying with the requirements under Subchapter M of the Internal Revenue Code of 1986, as amended, which includes distributing substantially all of its net investment income and net realized gains to shareholders. Accordingly, no provision has been made for federal and state income taxes. However, due to the timing and amount of distributions, each Fund may be subject to an excise tax of 4% of the amount by which approximately 98% of each Fund’s taxable income exceeds the distributions from such taxable income for the calendar year.
Certain countries assess a capital gains tax on securities sold in their local markets. This tax is accrued as the securities in these foreign markets appreciate in value and is paid at the time of sale to the extent a capital gain is realized. Taxes accrued on securities in an unrealized appreciation position are included in “Net change in unrealized appreciation (depreciation) on deferred foreign capital gains tax” on the Statements of Operations. The capital gains tax paid on securities sold, if any, is included in “Net realized gain (loss) on foreign capital gains tax” on the Statements of Operations.
Capital Gains. India’s Finance Act, 2024 (“Finance Act, 2024”) was enacted into law on July 23, 2024, and amongst the other provisions, it increased long-term and short-term capital gain rates on sales of Indian securities, effective that date. As per the amended provisions, the long-term capital gains on the sale of listed shares (sold on a recognized stock exchange and where Securities Transaction Tax (“STT”) is paid) in excess of INR 0.125 million are taxed at the rate of 12.5% (plus applicable surcharge and cess), increased from 10% (plus applicable surcharge and cess), subject to satisfaction of certain conditions. As a grandfathering measure, the cost of acquisition for the purpose of calculation of long-term capital asset acquired before February 1, 2018 shall be deemed to be the higher of the following: (a) the actual cost of acquisition of such asset; and (b) lower of (i) the fair market value of such asset as on January 31, 2018 and (ii) full value of consideration as received on its transfer/disposal of the equity shares. The highest effective tax rate on long-term capital gains earned by a Fund could be 14.95% in the case of a non-corporate entity and 13.65% in the case of a corporate entity.
In the case of the sale of listed shares (sold on a recognized stock exchange and where STT is paid) held by a Fund for one year or less, the income is classified as short-term capital gains and is taxable at 20% (plus applicable surcharge and cess), increased from 15% (plus applicable surcharge and cess), provided the shares are sold on the stock exchange and subjected to STT. The highest effective tax rate on short-term capital gains earned by a Fund could be 23.92% in the case of a non-corporate entity and 21.84% in the case of a corporate entity.
Short-term capital loss can be set-off against both short-term capital gains and long-term capital gains. However, long-term capital loss can be set-off only against long-term capital gains. The unabsorbed (remaining loss after setting off loss during the year against income of the year) short-term and long-term capital loss can be carried forward for immediately succeeding 8 (eight) assessment years.
Page 65
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
Buy back. Finance Act, 2024 has amended the provisions for taxation of buyback of shares and provided that the gains arising on buyback of shares will be considered as deemed dividend in the hands of the shareholder and taxed accordingly. (Prior to enactment of Finance Act, 2024, the shareholders were exempt from tax on any income arising on buyback and distribution tax at the rate of 20% plus applicable surcharge and cess was payable by the Indian Company on buyback of shares). Further, the cost of acquisition in relation to buyback of shares shall be considered as capital loss in the hands of shareholder and the capital loss can be set off against the capital gain income.
Where the sale of shares is outside the stock exchange and not subject to STT, the long-term capital gains continue to be taxed at 10% (plus applicable surcharge and cess) and short-term capital gains are taxed at 30% (plus applicable surcharge and cess).
Dividend income. The dividend income earned by a Fund from Indian Companies shall be chargeable to tax at the rate of 20% (plus applicable surcharge and cess). The highest effective tax rate on dividend income arising to a Fund could be 23.92% in the case of a non-corporate entity and 21.84% in the case of a corporate entity. Note that a Fund will not obtain relief under the US-India tax treaty as the treaty rate of 25% is higher than the domestic rate. Any excess taxes withheld can be offset against capital gains tax liability during the year or claimed as a refund in the annual tax return.
Interest income. Interest Income received from the Indian Investee Company shall be continued to be chargeable to tax at the rate of 20% (plus applicable surcharge and cess).
Other income. Any other income (other than capital gain, dividend, interest) earned by a Fund shall be chargeable to tax at the rate of 35% (earlier taxable at the rate of 40%) (plus applicable surcharge and cess).
Please note that the above description is based on current provisions of Indian law, and any change or modification made by subsequent legislation, regulation, or administrative or judicial decision could increase the Indian tax liability of a Fund and thus reduce the return to a Fund’s shareholders. There can be no assurance that the Indian tax authorities and/or regulators will not take a position contrary to the views expressed herein. If the Indian tax authorities and/or regulators take a position contrary to the views expressed herein, adverse unpredictable consequences may follow.
The Funds are subject to accounting standards that establish a minimum threshold for recognizing, and a system for measuring, the benefits of a tax position taken or expected to be taken in a tax return. For all the Funds, with the exception of BNGE and FTBI, the taxable years ended 2022, 2023, 2024, and 2025 remain open to federal and state audit. For BNGE, the taxable period ended 2022 and years ended 2023, 2024, and 2025 remain open to federal and state audit. As of September 30, 2025, management has evaluated the application of these standards to the Funds and has determined that no provision for income tax is required in the Funds’ financial statements for uncertain tax positions.
Each Fund intends to utilize provisions of the federal income tax laws, which allow it to carry a realized capital loss forward indefinitely following the year of the loss and offset such loss against any future realized capital gains. Each Fund is subject to certain limitations under U.S. tax rules on the use of capital loss carryforwards and net unrealized built-in losses. These limitations apply when there has been a 50% change in ownership. At March 31, 2025, for federal income tax purposes, each applicable Fund had a capital loss carryforward available that is shown in the following table, to the extent provided by regulations, to offset future capital gains. To the extent that these loss carryforwards are used to offset future capital gains, it is probable that the capital gains so offset will not be distributed to each applicable Fund’s shareholders.
 
 
Non-Expiring
Capital Loss
Carryforwards
First Trust Nasdaq Bank ETF
$160,068,594
First Trust Nasdaq Food & Beverage ETF
73,461,225
First Trust Nasdaq Oil & Gas ETF
87,941,177
First Trust Nasdaq Pharmaceuticals ETF
4,280,537
First Trust Nasdaq Semiconductor ETF
68,264,228
First Trust Nasdaq Transportation ETF
63,982,527
First Trust S-Network E-Commerce ETF
5,506,610
Emerging Markets Equity Select ETF
—
First Trust S&P 500 Diversified Dividend Aristocrats ETF
3,090,103
First Trust SMID Capital Strength ETF
4,451,635
Page 66
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
 
Non-Expiring
Capital Loss
Carryforwards
First Trust SMID Growth Strength ETF
$7,312,942
First Trust S-Network Streaming & Gaming ETF
266,660
During the taxable year ended March 31, 2025, the following Funds utilized capital loss carryforwards in the following amounts:
 
 
Capital
Loss
Utilized
First Trust Nasdaq Oil & Gas ETF
$1,765,905
First Trust Nasdaq Pharmaceuticals ETF
569,727
Emerging Markets Equity Select ETF
522,363
First Trust S&P 500 Diversified Dividend Aristocrats ETF
161,744
First Trust S-Network Streaming & Gaming ETF
15,767
Certain losses realized during the current fiscal year may be deferred and treated as occurring on the first day of the following fiscal year for federal income tax purposes. For the fiscal year ended March 31, 2025, the Funds had no net late year ordinary or capital losses.
As of September 30, 2025, the aggregate cost, gross unrealized appreciation, gross unrealized depreciation, and net unrealized appreciation/(depreciation) on investments (including short positions and derivatives, if any) for federal income tax purposes were as follows:
 
 
Tax Cost
Gross
Unrealized
Appreciation
Gross
Unrealized
(Depreciation)
Net Unrealized
Appreciation
(Depreciation)
First Trust Nasdaq Bank ETF
$215,633,163
$34,898,691
$(1,669,007
)
$33,229,684
First Trust Nasdaq Food & Beverage ETF
22,417,626
388,077
(4,610,884
)
(4,222,807
)
First Trust Nasdaq Oil & Gas ETF
121,591,730
9,332,825
(14,301,277
)
(4,968,452
)
First Trust Nasdaq Pharmaceuticals ETF
16,642,339
1,535,431
(2,488,075
)
(952,644
)
First Trust Nasdaq Semiconductor ETF
254,555,346
76,258,451
(12,068,026
)
64,190,425
First Trust Nasdaq Transportation ETF
30,893,045
6,216,921
(2,059,437
)
4,157,484
First Trust S-Network E-Commerce ETF
5,649,736
1,163,160
(536,485
)
626,675
Emerging Markets Equity Select ETF
14,600,391
2,591,767
(821,050
)
1,770,717
First Trust S&P 500 Diversified Dividend Aristocrats
ETF
48,301,791
7,223,257
(1,918,337
)
5,304,920
First Trust SMID Capital Strength ETF
47,184,141
4,203,078
(1,884,479
)
2,318,599
First Trust SMID Growth Strength ETF
28,005,417
3,589,432
(1,593,139
)
1,996,293
First Trust S-Network Streaming & Gaming ETF
6,514,620
1,728,294
(87,110
)
1,641,184
First Trust Balanced Income ETF
8,277,775
226,720
(7,103
)
219,617
J. Expenses
Expenses, other than the investment advisory fee and other excluded expenses, are paid by the Advisor (see Note 3).
First Trust has entered into licensing agreements with each of the following “Licensors” for the respective Funds:
 
Fund
Licensor
First Trust Nasdaq Bank ETF
Nasdaq, Inc.
First Trust Nasdaq Food & Beverage ETF
Nasdaq, Inc.
First Trust Nasdaq Oil & Gas ETF
Nasdaq, Inc.
First Trust Nasdaq Pharmaceuticals ETF
Nasdaq, Inc.
First Trust Nasdaq Semiconductor ETF
Nasdaq, Inc.
First Trust Nasdaq Transportation ETF
Nasdaq, Inc.
First Trust S-Network E-Commerce ETF
VettaFi LLC
Page 67
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
Fund
Licensor
Emerging Markets Equity Select ETF
Nitrogen Wealth, Inc.
First Trust S&P 500 Diversified Dividend Aristocrats ETF
S&P Dow Jones Indices, LLC
First Trust SMID Capital Strength ETF
Nasdaq, Inc.
First Trust SMID Growth Strength ETF
Nasdaq, Inc.
First Trust S-Network Streaming & Gaming ETF
VettaFi LLC
First Trust Balanced Income ETF
Bloomberg Index Services Limited
The respective license agreements allow for the use by First Trust of each Fund’s respective index and of certain trademarks and trade names of the respective Licensor. The Funds are sub-licensees to the applicable license agreements.
K. Segment Reporting
Each Fund has adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures. Adoption of the standard impacted financial statement disclosures only and did not affect each Fund’s financial position or the results of its operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity’s chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The CODM is the President and Chief Executive Officer of each Fund. Each Fund operates as a single operating segment. Each Fund’s income, expenses, assets, changes in net assets resulting from operations and performance are regularly monitored and assessed as a whole by the CODM responsible for oversight functions of each Fund, using the information presented in the financial statements and financial highlights.
3. Investment Advisory Fee, Affiliated Transactions and Other Fee Arrangements
First Trust, the investment advisor to the Funds, is a limited partnership with one limited partner, Grace Partners of DuPage L.P., and one general partner, The Charger Corporation. The Charger Corporation is an Illinois corporation controlled by James A. Bowen, Chief Executive Officer of First Trust. First Trust is responsible for the selection and ongoing monitoring of the securities in each Fund’s portfolio, managing the Funds’ business affairs and providing certain administrative services necessary for the management of the Funds.
First Trust is responsible for the expenses of each Fund including the cost of transfer agency, custody, fund administration, licensing fees, legal, audit and other services, but excluding fee payments under the Investment Management Agreement, interest, taxes, brokerage commissions and other expenses associated with the execution of portfolio transactions, acquired fund fees and expenses, distribution and service fees pursuant to a Rule 12b-1 plan, if any, and extraordinary expenses, which are paid by each respective Fund. The annual unitary management fee payable by each Fund to First Trust for these services will be reduced at certain levels of each Fund’s net assets (“breakpoints”) and calculated pursuant to the following schedules:
 
Breakpoints
ISHP
BNGE
RNEM
Fund net assets up to and including $2.5 billion
0.600
%
0.7000
%
0.75000
%
Fund net assets greater than $2.5 billion up to and including $5 billion
0.585
%
0.6825
%
0.73125
%
Fund net assets greater than $5 billion up to and including $7.5 billion
0.570
%
0.6650
%
0.71250
%
Fund net assets greater than $7.5 billion up to and including $10 billion
0.555
%
0.6475
%
0.69375
%
Fund net assets greater than $10 billion
0.540
%
0.6300
%
0.67500
%
 
Breakpoints
KNGZ
FTBI
Fund net assets up to and including $2.5 billion
0.5000
%
0.2500
%
Fund net assets greater than $2.5 billion up to and including $5 billion
0.4875
%
0.2438
%
Fund net assets greater than $5 billion up to and including $7.5 billion
0.4750
%
0.2375
%
Fund net assets greater than $7.5 billion up to and including $10 billion
0.4625
%
0.2313
%
Fund net assets greater than $10 billion up to and including $15 billion
0.4500
%
0.2250
%
Fund net assets greater than $15 billion
0.4250
%
0.1250
%
Page 68
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
For FTXO, FTXG, FTXN, FTXH, FTXL, FTXR, FSCS and FSGS, the annual unitary management fee payable by each Fund will be calculated pursuant to the following schedule:
 
Breakpoints
 
Fund net assets up to and including $2.5 billion
0.600
%
Fund net assets greater than $2.5 billion up to and including $5 billion
0.585
%
Fund net assets greater than $5 billion up to and including $7.5 billion
0.570
%
Fund net assets greater than $7.5 billion up to and including $10 billion
0.555
%
Fund net assets greater than $10 billion up to and including $15 billion
0.540
%
Fund net assets greater than $15 billion
0.510
%
The Trust has multiple service agreements with BNY. Under the service agreements, BNY performs custodial, fund accounting, certain administrative services, and transfer agency services for each Fund. As custodian, BNY is responsible for custody of each Fund’s assets. As fund accountant and administrator, BNY is responsible for maintaining the books and records of each Fund’s securities and cash. As transfer agent, BNY is responsible for maintaining shareholder records for each Fund. BNY is a subsidiary of The Bank of New York Mellon Corporation, a financial holding company.
Each Trustee who is not an officer or employee of First Trust, any sub-advisor or any of their affiliates (“Independent Trustees”) is paid a fixed annual retainer that is allocated equally among each fund in the First Trust Fund Complex. Each Independent Trustee is also paid an annual per fund fee that varies based on whether the fund is a closed-end or other actively managed fund, a target outcome fund or an index fund.
Additionally, the Chairs of the Audit Committee, Nominating and Governance Committee and Valuation Committee, the Vice Chair of the Audit Committee, the Lead Independent Trustee and the Vice Lead Independent Trustee are paid annual fees to serve in such capacities, with such compensation allocated pro rata among each fund in the First Trust Fund Complex based on net assets. Independent Trustees are reimbursed for travel and out-of-pocket expenses in connection with all meetings. The Committee Chairs, the Audit Committee Vice Chair, the Lead Independent Trustee and the Vice Lead Independent Trustee rotate periodically in serving in such capacities. The officers and “Interested” Trustee receive no compensation from the Trust for acting in such capacities.
4. Purchases and Sales of Securities
For the six months ended September 30, 2025, the cost of purchases and proceeds from sales of investments for each Fund, excluding short-term investments and in-kind transactions, were as follows:
 
 
Purchases
Sales
First Trust Nasdaq Bank ETF
$33,717,109
$33,905,832
First Trust Nasdaq Food & Beverage ETF
3,147,426
3,182,820
First Trust Nasdaq Oil & Gas ETF
14,868,690
14,992,595
First Trust Nasdaq Pharmaceuticals ETF
2,990,224
2,990,551
First Trust Nasdaq Semiconductor ETF
52,277,047
52,513,462
First Trust Nasdaq Transportation ETF
5,983,515
6,081,618
First Trust S-Network E-Commerce ETF
1,160,753
1,230,910
Emerging Markets Equity Select ETF
5,837,906
7,556,020
First Trust S&P 500 Diversified Dividend Aristocrats ETF
9,331,437
9,355,854
First Trust SMID Capital Strength ETF
25,316,237
25,187,915
First Trust SMID Growth Strength ETF
21,091,646
21,039,860
First Trust S-Network Streaming & Gaming ETF
1,005,198
777,782
First Trust Balanced Income ETF
562,071
526,681
For the six months ended September 30, 2025, the cost of in-kind purchases and proceeds from in-kind sales for each Fund were as follows:
 
 
Purchases
Sales
First Trust Nasdaq Bank ETF
$16,382,247
$28,334,048
First Trust Nasdaq Food & Beverage ETF
12,558,895
17,965,560
First Trust Nasdaq Oil & Gas ETF
1,528,608
30,978,053
Page 69
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
 
Purchases
Sales
First Trust Nasdaq Pharmaceuticals ETF
$6,123,120
$6,415,274
First Trust Nasdaq Semiconductor ETF
22,135,968
42,326,363
First Trust Nasdaq Transportation ETF
3,398,367
1,286,090
First Trust S-Network E-Commerce ETF
—
1,682,741
Emerging Markets Equity Select ETF
—
946,398
First Trust S&P 500 Diversified Dividend Aristocrats ETF
1,631,384
1,607,743
First Trust SMID Capital Strength ETF
33,781,586
12,681,973
First Trust SMID Growth Strength ETF
10,127,949
11,887,165
First Trust S-Network Streaming & Gaming ETF
3,227,725
1,890,102
First Trust Balanced Income ETF
25,552,688
17,427,904
5. Creations, Redemptions and Transaction Fees
Each Fund generally issues and redeems its shares in primary market transactions through a creation and redemption mechanism and does not sell or redeem individual shares. Instead, financial entities known as “Authorized Participants” have contractual arrangements with a Fund or one of the Fund’s service providers to purchase and redeem Fund shares directly with the Fund in Creation Units. Prior to the start of trading on every business day, a Fund publishes through the National Securities Clearing Corporation the “basket” of securities, cash or other assets that it will accept in exchange for a Creation Unit of the Fund’s shares. An Authorized Participant that wishes to effectuate a creation of a Fund’s shares deposits with the Fund the “basket” of securities, cash or other assets identified by the Fund that day, and then receives the Creation Unit of the Fund’s shares in return for those assets. After purchasing a Creation Unit, the Authorized Participant may continue to hold the Fund’s shares or sell them in the secondary market. The redemption process is the reverse of the purchase process: the Authorized Participant redeems a Creation Unit of a Fund’s shares for a basket of securities, cash or other assets. The combination of the creation and redemption process with secondary market trading in a Fund’s shares and underlying securities provides arbitrage opportunities that are designed to help keep the market price of a Fund’s shares at or close to the NAV per share of the Fund.
Each Fund imposes fees in connection with the purchase of Creation Units. These fees may vary based upon various fact-based circumstances, including, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the transactions are settled. The price for each Creation Unit will equal the daily NAV per share of a Fund times the number of shares in a Creation Unit, plus the fees described above and, if applicable, any operational processing and brokerage costs, transfer fees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising the creation basket.
Each Fund also imposes fees in connection with the redemption of Creation Units. These fees may vary based upon various fact-based circumstances, including, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the transactions are settled. The price received for each Creation Unit will equal the daily NAV per share of a Fund times the number of shares in a Creation Unit, minus the fees described above and, if applicable, any operational processing and brokerage costs, transfer fees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising the redemption basket. Investors who use the services of a broker or other such intermediary in addition to an Authorized Participant to effect a redemption of a Creation Unit may also be assessed an amount to cover the cost of such services. The redemption fee charged by a Fund will comply with Rule 22c-2 of the 1940 Act which limits redemption fees to no more than 2% of the value of the shares redeemed.
6. Distribution Plan
The Board of Trustees adopted a Distribution and Service Plan pursuant to Rule 12b-1 under the 1940 Act. In accordance with the Rule 12b-1 plan, the Funds are authorized to pay an amount up to 0.25% of their average daily net assets each year to reimburse First Trust Portfolios L.P. (“FTP”), the distributor of the Funds, for amounts expended to finance activities primarily intended to result in the sale of Creation Units or the provision of investor services. FTP may also use this amount to compensate securities dealers or other persons that are Authorized Participants for providing distribution assistance, including broker-dealer and shareholder support and educational and promotional services.
No 12b-1 fees are currently paid by the Funds, and pursuant to a contractual arrangement, no 12b-1 fees will be paid any time before July 31, 2026 for all the Funds, with the exception of FTBI, which will not pay fees any time before March 31, 2027.
Page 70
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
7. Indemnification
The Trust, on behalf of the Funds, has a variety of indemnification obligations under contracts with its service providers. The Trust’s maximum exposure under these arrangements is unknown. However, the Trust has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.
8. Subsequent Events
Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were issued and has determined that there were no subsequent events requiring recognition or disclosure in the financial statements that have not already been disclosed.
Page 71
Other Information
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)

Changes in and Disagreements with Accountants (Item 8 of Form N-CSR)
There were no changes in or disagreements with the Funds’ accountants during the period ended September 30, 2025.
Proxy Disclosures (Item 9 of Form N-CSR)
At a special meeting of shareholders of First Trust Exchange-Traded Fund VI (the “Trust”) that was held on August 12, 2025 (the “Special Meeting”), shareholders of record as of June 9, 2025 (the “Record Date”) approved a proposal (the “Proposal”) to elect or re-elect, as applicable, each of the eight nominees listed below to the Board of Trustees of the Trust (the “Board”). Shareholders of each series of the Trust that had publicly offered shares as of the Record Date (each, a “fund”) voted together with shareholders of the other funds on the Proposal, and the results are set forth below. There were no broker non-votes.
 
James A. Bowen*
Votes For
Votes Withheld
651,722,898
5,064,462
Thomas J. Driscoll**
Votes For
Votes Withheld
651,998,702
4,788,658
Richard E. Erickson*
Votes For
Votes Withheld
643,054,997
13,732,363
Thomas R. Kadlec*
Votes For
Votes Withheld
643,100,488
13,686,872
Denise M. Keefe***
Votes For
Votes Withheld
651,736,288
5,051,072
Robert F. Keith*
Votes For
Votes Withheld
643,383,276
13,404,084
Niel B. Nielson*
Votes For
Votes Withheld
643,178,094
13,609,266
Bronwyn Wright***
Votes For
Votes Withheld
412,521,907
244,265,453
 
*
This nominee was re-elected to the Board at the Special Meeting.
**
This nominee was elected to the Board as a new Trustee at the Special Meeting.
***
This nominee was elected to the Board at the Special Meeting and had previously been appointed to the Board.
Remuneration Paid to Directors, Officers, and Others (Item 10 of Form N-CSR)
Independent Trustees and any member of any advisory board of each Fund are compensated through the unitary management fee paid by each Fund to the advisor and not directly by each Fund. The investment advisory fee paid is included in the Statements of Operations.
Page 72
Other Information (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
Statement Regarding the Basis for the Board’s Approval of Investment Advisory Contract (Item 11 of Form N-CSR)
The Board of Trustees of First Trust Exchange-Traded Fund VI (the “Trust”), including the Independent Trustees, unanimously approved the continuation of the Investment Management Agreements (as applicable to a specific Fund, the “Agreement” and collectively, the “Agreements”) with First Trust Advisors L.P. (the “Advisor”) on behalf of the following series of the Trust (each a “Fund” and collectively, the “Funds”):
Emerging Markets Equity Select ETF (RNEM)
First Trust SMID Capital Strength ETF (FSCS) (formerly, Mid Cap US Equity Select ETF)
First Trust SMID Growth Strength ETF (FSGS) (formerly, Small Cap US Equity Select ETF)
First Trust Nasdaq Bank ETF (FTXO)
First Trust Nasdaq Food & Beverage ETF (FTXG)
First Trust Nasdaq Oil & Gas ETF (FTXN)
First Trust Nasdaq Pharmaceuticals ETF (FTXH)
First Trust Nasdaq Semiconductor ETF (FTXL)
First Trust Nasdaq Transportation ETF (FTXR)
First Trust S&P 500 Diversified Dividend Aristocrats ETF (KNGZ)
First Trust S-Network E-Commerce ETF (ISHP)
First Trust S-Network Streaming & Gaming ETF (BNGE)
The Board approved the continuation of the Agreement for each Fund for a one-year period ending June 30, 2026 at a meeting held on June 8–9, 2025. The Board determined for each Fund that the continuation of the Agreement is in the best interests of the Fund in light of the nature, extent and quality of the services provided and such other matters as the Board considered to be relevant in the exercise of its business judgment.
To reach this determination for each Fund, the Board considered its duties under the Investment Company Act of 1940, as amended (the “1940 Act”), as well as under the general principles of state law, in reviewing and approving advisory contracts; the requirements of the 1940 Act in such matters; the fiduciary duty of investment advisors with respect to advisory agreements and compensation; the standards used by courts in determining whether investment company boards have fulfilled their duties; and the factors to be considered by the Board in voting on such agreements. At meetings held on April 22, 2025 and June 8–9, 2025, the Board, including the Independent Trustees, reviewed materials provided by the Advisor responding to requests for information from counsel to the Independent Trustees, submitted on behalf of the Independent Trustees, that, among other things, outlined: the services provided by the Advisor to each Fund (including the relevant personnel responsible for these services and their experience); the unitary fee rate schedule payable by each Fund as compared to fees charged to a peer group of funds (the “Expense Group”) and a broad peer universe of funds (the “Expense Universe”), each assembled by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent source, and as compared to fees charged to other clients of the Advisor, including other exchange-traded funds (“ETFs”) managed by the Advisor; the expense ratio of each Fund as compared to expense ratios of the funds in the Fund’s Expense Group and Expense Universe; performance information for each Fund, including comparisons of each Fund’s performance to that of one or more relevant benchmark indexes and to that of a performance group of funds and a broad performance universe of funds (the “Performance Universe”), each assembled by Broadridge; the nature of expenses incurred in providing services to each Fund and the potential for the Advisor to realize economies of scale, if any; profitability and other financial data for the Advisor; any indirect benefits to the Advisor and its affiliate, First Trust Portfolios L.P. (“FTP”); and information on the Advisor’s compliance program. The Board reviewed initial materials with the Advisor at the meeting held on April 22, 2025, prior to which the Independent Trustees and their counsel met separately to discuss the information provided by the Advisor. Following the April meeting, counsel to the Independent Trustees, on behalf of the Independent Trustees, requested certain clarifications and supplements to the materials provided, and the information provided in response to those requests was considered at an executive session of the Independent Trustees and their counsel held prior to the June 8–9, 2025 meeting, as well as at the June meeting. The Board applied its business judgment to determine whether the arrangement between the Trust and the Advisor continues to be a reasonable business arrangement from each Fund’s perspective. The Board determined that, given the totality of the information provided with respect to the Agreements, the Board had received sufficient information to renew the Agreements. The Board considered that shareholders chose to invest or remain invested in a Fund knowing that the Advisor manages the Fund and knowing the Fund’s unitary fee.
In reviewing the Agreement for each Fund, the Board considered the nature, extent and quality of the services provided by the Advisor under the Agreement. The Board considered that the Advisor is responsible for the overall management and administration of the Trust and each Fund and reviewed all of the services provided by the Advisor to the Funds, as well as the background and experience of the persons responsible for such services. In reviewing the services provided, the Board noted the compliance program that had
Page 73
Other Information (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
been developed by the Advisor and considered that it includes a robust program for monitoring the Advisor’s and each Fund’s compliance with the 1940 Act, as well as each Fund’s compliance with its investment objective, policies and restrictions. The Board also considered a report from the Advisor with respect to its risk management functions related to the operation of the Funds. Finally, as part of the Board’s consideration of the Advisor’s services, the Advisor, in its written materials and at the April 22, 2025 meeting, described to the Board the scope of its ongoing investment in additional personnel and infrastructure to maintain and improve the quality of services provided to the Funds and the other funds in the First Trust Fund Complex. In light of the information presented and the considerations made, the Board concluded that the nature, extent and quality of the services provided to the Trust and each Fund by the Advisor under the Agreements have been and are expected to remain satisfactory and that the Advisor has managed each Fund consistent with its investment objective, policies and restrictions.
The Board considered the unitary fee rate schedule payable by each Fund under the applicable Agreement for the services provided. The Board considered that as part of the unitary fee the Advisor is responsible for each Fund’s expenses, including the cost of transfer agency, custody, fund administration, legal, audit and other services and license fees, if any, but excluding the fee payment under the applicable Agreement and interest, taxes, brokerage commissions and other expenses connected with the execution of portfolio transactions, distribution and service fees pursuant to a Rule 12b-1 plan, if any, and extraordinary expenses, if any. The Board received and reviewed information showing the fee rates and expense ratios of the peer funds in the Expense Groups, as well as advisory and unitary fee rates charged by the Advisor to other fund (including ETFs) and non-fund clients, as applicable. Because each Fund pays a unitary fee, the Board determined that expense ratios were the most relevant comparative data point. Based on the information provided, the Board noted that the total (net) expense ratio for each of FSCS and ISHP was equal to the median total (net) expense ratio of the peer funds in its respective Expense Group and that the total (net) expense ratio for each other Fund was above the median total (net) expense ratio of the peer funds in its respective Expense Group. With respect to the Expense Groups, the Board discussed with the Advisor limitations in creating peer groups for index ETFs, including differences in underlying indexes and index-tracking methodologies that can result in greater management complexities across seemingly comparable ETFs, and different business models that may affect the pricing of services among ETF sponsors. The Board took these limitations and differences into account in considering the peer data. With respect to fees charged to other non-ETF clients, the Board considered differences between the Funds and other non-ETF clients that limited their comparability. In considering the unitary fee rate schedules overall, the Board also considered the Advisor’s statement that it seeks to meet investor needs through innovative and value-added investment solutions and the Advisor’s demonstrated long-term commitment to each Fund and the other funds in the First Trust Fund Complex.
The Board considered performance information for each Fund. The Board noted the process it has established for monitoring each Fund’s performance and portfolio risk on an ongoing basis, which includes quarterly performance reporting from the Advisor for the Funds. The Board determined that this process continues to be effective for reviewing each Fund’s performance. The Board received and reviewed information for one or more periods ended December 31, 2024 regarding the performance of each Fund’s underlying index, the correlation between each Fund’s performance and that of its underlying index, each Fund’s tracking difference and each Fund’s excess return as compared to its benchmark index. With respect to ISHP, the Board noted that during 2021, it approved changes to the Fund’s investment objective and, effective January 26, 2022, the Fund changed its name and ticker symbol and began tracking the S-Network Global E-Commerce Index, and that the performance information included a blend of the old and new indexes. With respect to KNGZ, the Board noted that during 2023, it approved changes to the Fund’s investment objective and, effective October 3, 2023, the Fund changed its name and ticker symbol and began tracking the S&P 500 Sector-Neutral Dividend Aristocrats Index, and that the performance information included a blend of the old and new indexes. With respect to FSCS, the Board noted that during 2024, it approved changes to the Fund’s investment objective and, effective June 7, 2024, the Fund changed its name and ticker symbol and begin tracking The SMID Capital Strength Index, and that the performance information included a blend of the old and new indexes. With respect to FSGS, the Board noted that during 2024, it approved changes to the Fund’s investment objective and, effective December 3, 2024, the Fund changed its name and ticker symbol and began tracking The SMID Growth Strength Index, and that the performance information included a blend of the old and new indexes. Based on the information provided and its ongoing review of performance, the Board concluded that each Fund was correlated to its underlying index and that the tracking difference for each Fund was within a reasonable range. In addition, the Board reviewed data prepared by Broadridge comparing each Fund’s performance to that of its respective Performance Universe and to that of a benchmark index and noted the Advisor’s discussion of FTXL’s performance at the April 22, 2025 meeting. However, given each Fund’s objective of seeking investment results that correspond generally to the performance of its underlying index, the Board placed more emphasis on its review of correlation and tracking difference.
On the basis of all the information provided on the unitary fee and performance of each Fund and the ongoing oversight by the Board, the Board concluded that the unitary fee for each Fund continues to be reasonable and appropriate in light of the nature, extent and quality of the services provided by the Advisor to each Fund under the Agreements.
Page 74
Other Information (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
The Board considered information and discussed with the Advisor whether there were any economies of scale in connection with providing advisory services to the Funds at current asset levels and whether the Funds may benefit from any economies of scale. The Board noted that the unitary fee rate schedule for each Fund includes breakpoints pursuant to which the unitary fee rate will be reduced as assets of the Fund meet certain thresholds. The Board considered the Advisor’s statement that it believes that its expenses relating to providing advisory services to the Funds will increase during the next twelve months as the Advisor continues to build infrastructure and add new staff. The Board also noted that under the unitary fee structure, any reduction in expenses associated with the management and operations of the Funds would benefit the Advisor, but that the unitary fee structure provides a level of certainty in expenses for shareholders of the Funds. The Board concluded that the unitary fee rate schedule for each Fund reflects an appropriate level of sharing of any economies of scale that may be realized in the management of the Fund at current asset levels. The Board considered the revenues and allocated costs (including the allocation methodology) of the Advisor in serving as investment advisor to each Fund for the twelve months ended December 31, 2024 and the estimated profitability level for each Fund calculated by the Advisor based on such data, as well as complex-wide and product-line profitability data, for the same period. The Board noted the inherent limitations in the profitability analysis and concluded that, based on the information provided, the Advisor’s profitability level for each Fund was not unreasonable. In addition, the Board considered indirect benefits described by the Advisor that may be realized from its relationship with the Funds. The Board considered that the Advisor had identified as an indirect benefit to the Advisor and FTP their exposure to investors and brokers who, absent their exposure to the Funds, may have had no dealings with the Advisor or FTP, and noted that the Advisor does not utilize soft dollars in connection with the Funds. The Board concluded that the character and amount of potential indirect benefits to the Advisor were not unreasonable.
Based on all of the information considered and the conclusions reached, the Board, including the Independent Trustees, unanimously determined that the terms of the Agreements continue to be fair and reasonable and that the continuation of the Agreements is in the best interests of each Fund. No single factor was determinative in the Board’s analysis.
The Board of Trustees of First Trust Exchange-Traded Fund VI (the “Trust”), including the Independent Trustees, approved the Investment Management Agreement (the “Agreement”) with First Trust Advisors L.P. (the “Advisor”), on behalf of First Trust Balanced Income ETF (the “Fund”), for an initial two-year term at a meeting held on December 9, 2024. The Board determined that the Agreement is in the best interests of the Fund in light of the nature, extent and quality of the services expected to be provided and such other matters as the Board considered to be relevant in the exercise of its business judgment.
To reach this determination, the Board considered its duties under the Investment Company Act of 1940, as amended (the “1940 Act”), as well as under the general principles of state law, in reviewing and approving advisory contracts; the requirements of the 1940 Act in such matters; the fiduciary duty of investment advisors with respect to advisory agreements and compensation; the standards used by courts in determining whether investment company boards have fulfilled their duties; and the factors to be considered by the Board in voting on such agreements. To assist the Board in its evaluation of the Agreement for the Fund, the Independent Trustees received a report from the Advisor in advance of the Board meeting responding to a request for information from counsel to the Independent Trustees, submitted on behalf of the Independent Trustees, that, among other things, outlined: the services to be provided by the Advisor to the Fund (including the relevant personnel responsible for these services and their experience); the proposed unitary fee rate schedule payable by the Fund as compared to fees charged to a peer group of funds (the “Expense Group”) and a broad peer universe of funds (the “Expense Universe”), each assembled by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent source, and as compared to fees charged to other exchange-traded funds (“ETFs”) managed by the Advisor; the estimated expense ratio of the Fund as compared to expense ratios of the funds in the Fund’s Expense Group and Expense Universe; the nature of expenses to be incurred in providing services to the Fund and the potential for the Advisor to realize economies of scale, if any; profitability and other financial data for the Advisor; any indirect benefits to the Advisor and its affiliate, First Trust Portfolios L.P. (“FTP”); and information on the Advisor’s compliance program. The Independent Trustees and their counsel also met separately to discuss the information provided by the Advisor. The Board applied its business judgment to determine whether the arrangement between the Trust and the Advisor is a reasonable business arrangement from the Fund’s perspective.
In evaluating whether to approve the Agreement for the Fund, the Board considered the nature, extent and quality of the services to be provided by the Advisor under the Agreement and considered that employees of the Advisor provide management services to other ETFs and to other funds in the First Trust Fund Complex with diligence and care. The Board considered that the Advisor will be responsible for the overall management and administration of the Fund and reviewed all of the services to be provided by the Advisor to the Fund. The Board also considered the background and experience of the persons who will be responsible for the day-to-day management of the Fund’s investments. In reviewing the services to be provided, the Board noted the compliance program that had been developed by the Advisor and considered that it includes a robust program for monitoring the Advisor’s and the Fund’s compliance with the 1940 Act, as well as the Fund’s compliance with its investment objective, policies and restrictions. Because the
Page 75
Other Information (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
Fund had yet to commence investment operations, the Board could not consider the historical investment performance of the Fund. Because the Fund is an index ETF that is designed to track the performance of an underlying index, the Board considered reports it receives on a quarterly basis showing the correlation and tracking error between other ETFs for which the Advisor serves as investment advisor and their applicable underlying indexes. In light of the information presented and the considerations made, the Board concluded that the nature, extent and quality of the services to be provided to the Fund by the Advisor under the Agreement are expected to be satisfactory.
The Board considered the proposed unitary fee rate schedule payable by the Fund under the Agreement for the services to be provided. The Board noted that, under the unitary fee arrangement, the Fund would pay the Advisor a unitary fee starting at an annual rate of 0.25% of its average daily net assets, subject to a breakpoint schedule pursuant to which the unitary fee rate would be reduced as assets of the Fund meet certain thresholds. The Board noted that the Advisor would be responsible for the Fund’s expenses, including the cost of transfer agency, custody, fund administration, legal, audit and other services and license fees, if any, but excluding the fee payment under the Agreement and interest, taxes, acquired fund fees and expenses, brokerage commissions and other expenses connected with the execution of portfolio transactions, distribution and service fees pursuant to a Rule 12b-1 plan, if any, and extraordinary expenses, if any. The Board noted that, because the Fund will invest in underlying ETFs in the First Trust Fund Complex, it will incur acquired fund fees and expenses, which are not payable out of the unitary fee. The Board received and reviewed information showing the fee rates and expense ratios of the peer funds in the Expense Group, as well as fee rates charged by the Advisor to other ETFs. Because the Fund will pay a unitary fee, the Board determined that expense ratios were the most relevant comparative data point. Based on the information provided, the Board noted that the total (net) expense ratio (excluding the estimated acquired fund fees and expenses) for the Fund was below the median total (net) expense ratio (excluding acquired fund fees and expenses) of the peer funds in the Expense Group. The Board also noted that the total (net) expense ratio (including the estimated acquired fund fees and expenses) for the Fund was above the median total (net) expense ratio (including acquired fund fees and expenses) of the peer funds in the Expense Group. With respect to the Expense Group, the Board discussed with representatives of the Advisor how the Expense Group was assembled and how the Fund compared and differed from the peer funds. The Board took this information into account in considering the peer data. With respect to fees charged to other ETFs managed by the Advisor, the Board considered the Advisor’s statement that the Fund will be most similar to two other ETFs in the First Trust Fund Complex that invest in underlying ETFs in the First Trust Fund Complex and that have unitary fee rate schedules starting at annual rates of 0.20% or 0.30% of their respective average daily net assets. In light of the information considered and the nature, extent and quality of the services expected to be provided to the Fund under the Agreement, the Board determined that the proposed unitary fee was fair and reasonable.
The Board considered whether there are any potential economies of scale to be achieved in connection with the Advisor providing investment advisory services to the Fund and whether the Fund may benefit from any economies of scale. The Board noted that the proposed unitary fee rate schedule for the Fund includes breakpoints pursuant to which the unitary fee rate would be reduced as assets of the Fund meet certain thresholds. The Board considered that the Advisor has continued to build infrastructure and add new staff to improve the services to the funds in the First Trust Fund Complex. The Board also noted that under the unitary fee structure, any reduction in expenses associated with the management and operations of the Fund generally would benefit the Advisor, but that the unitary fee structure provides a level of certainty in expenses for shareholders of the Fund. The Board concluded that the proposed unitary fee rate schedule for the Fund reflects an appropriate level of sharing of any economies of scale that may be realized in the management of the Fund at reasonably foreseeable future asset levels. The Board took into consideration the types of costs to be borne by the Advisor in connection with its services to be performed for the Fund under the Agreement. The Board considered the Advisor’s estimate of the asset level for the Fund at which the Advisor expects the Agreement to be profitable to the Advisor and the Advisor’s estimate of the profitability of the Agreement if the Fund’s assets reach $100 million. The Board noted the inherent limitations in the profitability analysis and concluded that, based on the information provided, the Advisor’s estimated profitability level for the Fund was not unreasonable. In addition, the Board considered indirect benefits described by the Advisor that may be realized from its relationship with the Fund. The Board considered that the Advisor had identified as an indirect benefit to the Advisor and FTP their exposure to investors and brokers who, absent their exposure to the Fund, may have had no dealings with the Advisor or FTP, and noted that the Advisor will not utilize soft dollars in connection with the Fund. In addition, the Board considered that the Advisor, as the investment advisor to the underlying ETFs in which the Fund would invest, will recognize additional revenue from such underlying ETFs if the Fund’s investment causes their assets to grow. The Board concluded that the character and amount of potential indirect benefits to the Advisor were not unreasonable.
Based on all of the information considered and the conclusions reached, the Board, including the Independent Trustees, determined that the terms of the Agreement are fair and reasonable and that the approval of the Agreement is in the best interests of the Fund. No single factor was determinative in the Board’s analysis.
Page 76
Other Information (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
Disclaimers
First Trust Nasdaq Bank ETF
First Trust Nasdaq Food & Beverage ETF
First Trust Nasdaq Oil & Gas ETF
First Trust Nasdaq Pharmaceuticals ETF
First Trust Nasdaq Semiconductor ETF
First Trust Nasdaq Transportation ETF
First Trust SMID Capital Strength ETF
First Trust SMID Growth Strength ETF
Nasdaq®, Nasdaq US Smart BanksTM Index, Nasdaq US Smart Food & BeverageTM Index, Nasdaq US Smart Oil & GasTM Index, Nasdaq US Smart PharmaceuticalsTM Index, Nasdaq US Smart SemiconductorTM Index, Nasdaq US Smart TransportationTM Index, The SMID Capital Strength Index, and The SMID Growth Strength Index (“the Nasdaq Indexes”) are registered trademarks and service marks of Nasdaq, Inc. (together with its affiliates hereinafter referred to as the “Corporations”) and are licensed for use by First Trust. The Funds have not been passed on by the Corporations as to their legality or suitability. The Funds are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUNDS.
First Trust S-Network E-Commerce ETF
First Trust S-Network Streaming & Gaming ETF
S-Network, S-Network Global E-Commerce IndexTM and S-Network Streaming & Gaming Index are service marks of VettaFi LLC and have been licensed for use by First Trust Advisors L.P. The Funds are not issued, sponsored, endorsed, sold or promoted by VettaFi LLC (collectively, “VettaFi”). VettaFi makes no representation or warranty, express or implied, to the purchasers or owners of the Funds or any member of the public regarding the advisability of investing in securities generally or in the Funds particularly or the ability of the Index to track general market performance.
Emerging Markets Equity Select ETF
Nasdaq Riskalyze Emerging MarketsTM Index is a trademark or service mark of Nitrogen Wealth, Inc. (“Nitrogen Wealth”) and has been licensed for use for certain purposes by First Trust. The Fund is not sponsored, endorsed, sold or promoted by Nitrogen Wealth and Nitrogen Wealth makes no representation regarding the advisability of trading in the Funds. Nasdaq Riskalyze Emerging MarketsTM Index is a product of Nitrogen Wealth. RISKALYZE® and Nasdaq Riskalyze Emerging MarketsTM Index are trademarks of Nitrogen Wealth. Nasdaq® is a trademark of Nasdaq, Inc.
First Trust S&P 500 Diversified Dividend Aristocrats ETF
S&P 500® Sector-Neutral Dividend Aristocrats Index (the “Index”) is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and have been licensed for use by First Trust. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by First Trust. The Fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product nor do they have any liability for any errors, omissions, or interruptions of the Index.
First Trust Balanced Income ETF
“Bloomberg®” and Bloomberg Moderate Allocation Income Focus Index referenced herein (the “Indices” and each such index, an “Index”) are trademarks or service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the Indices (collectively, “Bloomberg”) and/or one or more third-party providers (each such provider, a “Third-Party Provider”), and have been licensed for use for certain purposes to First Trust Advisors L.P. (the “Licensee”). Bloomberg is not affiliated with the Licensee or a Third-Party Provider, and Bloomberg does not approve, endorse, review, or recommend the financial products referenced herein (the “Financial Products”). Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Indices or the Financial Products.
Page 77
 
 
 
 
Semi-Annual Financial
Statements and
Other Information
For the Six Months Ended
September 30, 2025
 
First Trust Exchange-Traded Fund VI
 
First Trust Bloomberg Shareholder Yield ETF (SHRY)
First Trust Indxx Medical Devices ETF (MDEV)
First Trust Bloomberg R&D Leaders ETF (RND)
First Trust New Constructs Core Earnings Leaders ETF
(FTCE)
Table of Contents 
First Trust Exchange-Traded Fund VI
Semi-Annual Financial Statements and Other Information
September 30, 2025 
Performance and Risk Disclosure
There is no assurance that any series of First Trust Exchange-Traded Fund VI (the “Trust”) described in this report (each such series is referred to as a “Fund” and collectively, as the “Funds”) will achieve its investment objective. Each Fund is subject to market risk, which is the possibility that the market values of securities owned by the Fund will decline and that the value of the Fund’s shares may therefore be less than what you paid for them. Accordingly, you can lose money by investing in a Fund.
Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. For the most recent month-end performance figures, please visit www.ftportfolios.com or speak with your financial advisor. Investment returns, net asset value and share price will fluctuate and Fund shares, when sold, may be worth more or less than their original cost.
First Trust Advisors L.P., the Funds’ advisor, may also periodically provide additional information on Fund performance on each Fund’s webpage at www.ftportfolios.com.
How to Read This Report
This report contains information that may help you evaluate your investment. It includes details about each Fund and presents data that provides insight into each Fund’s performance and investment approach.
The material risks of investing in each Fund are spelled out in its prospectus, statement of additional information, and other Fund regulatory filings.
First Trust Bloomberg Shareholder Yield ETF (SHRY)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS — 99.8%
Aerospace & Defense — 4.6%
1,062
General Dynamics Corp.
$362,142
866
Lockheed Martin Corp.
432,316
 
794,458
Beverages — 4.3%
3,621
Constellation Brands, Inc.,
Class A
487,640
1,772
PepsiCo, Inc.
248,860
 
736,500
Capital Markets — 2.7%
631
Blackstone, Inc.
107,806
1,313
CME Group, Inc.
354,760
 
462,566
Chemicals — 6.6%
9,254
CF Industries Holdings, Inc.
830,084
279
Linde PLC
132,525
520
Sherwin-Williams (The) Co.
180,055
 
1,142,664
Consumer Staples Distribution
& Retail — 0.3%
48
Costco Wholesale Corp.
44,430
Energy Equipment & Services
— 3.1%
15,444
Schlumberger N.V.
530,810
Financial Services — 5.8%
1,516
Fiserv, Inc. (a)
195,458
296
Mastercard, Inc., Class A
168,368
5,737
PayPal Holdings, Inc. (a)
384,723
710
Visa, Inc., Class A
242,380
 
990,929
Ground Transportation —
4.3%
12,379
CSX Corp.
439,578
1,264
Union Pacific Corp.
298,772
 
738,350
Health Care Equipment &
Supplies — 2.8%
1,401
Abbott Laboratories
187,650
3,086
Medtronic PLC
293,911
 
481,561
Health Care Providers &
Services — 3.8%
785
HCA Healthcare, Inc.
334,567
407
McKesson Corp.
314,424
 
648,991
Shares
Description
Value
 
Hotels, Restaurants & Leisure
— 2.2%
683
McDonald’s Corp.
$207,557
2,018
Starbucks Corp.
170,723
 
378,280
Household Durables — 4.6%
99
NVR, Inc. (a)
795,431
Household Products — 6.6%
3,962
Colgate-Palmolive Co.
316,722
4,520
Kimberly-Clark Corp.
562,017
1,674
Procter & Gamble (The) Co.
257,210
 
1,135,949
Insurance — 11.0%
979
Chubb Ltd.
276,323
3,768
Hartford Insurance Group (The),
Inc.
502,613
1,988
Marsh & McLennan Cos., Inc.
400,642
6,908
MetLife, Inc.
569,012
580
Progressive (The) Corp.
143,231
 
1,891,821
Interactive Media & Services
— 2.0%
983
Alphabet, Inc., Class A
238,967
136
Meta Platforms, Inc., Class A
99,876
 
338,843
Media — 5.5%
1,554
Charter Communications, Inc.,
Class A (a)
427,513
16,693
Comcast Corp., Class A
524,494
 
952,007
Oil, Gas & Consumable Fuels
— 2.8%
4,327
EOG Resources, Inc.
485,143
Pharmaceuticals — 3.1%
6,336
Merck & Co., Inc.
531,781
Professional Services — 1.2%
698
Automatic Data Processing, Inc.
204,863
Semiconductors &
Semiconductor Equipment
— 7.5%
1,524
Applied Materials, Inc.
312,024
262
KLA Corp.
282,593
2,425
Lam Research Corp.
324,707
2,188
QUALCOMM, Inc.
363,996
 
1,283,320
Software — 3.2%
1,214
Adobe, Inc. (a)
428,238
222
Microsoft Corp.
114,985
 
543,223
See Notes to Financial Statements
Page 1
First Trust Bloomberg Shareholder Yield ETF (SHRY)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Shares
Description
Value
COMMON STOCKS (Continued)
Specialty Retail — 4.5%
1,961
Lowe’s Cos., Inc.
$492,819
2,527
O’Reilly Automotive, Inc. (a)
272,436
 
765,255
Technology Hardware, Storage
& Peripherals — 2.1%
1,415
Apple, Inc.
360,301
Tobacco — 5.2%
9,927
Altria Group, Inc.
655,778
1,462
Philip Morris International, Inc.
237,136
 
892,914
Total Common Stocks
17,130,390
(Cost $16,614,041)
MONEY MARKET FUNDS — 0.1%
15,983
Dreyfus Government Cash
Management Fund,
Institutional Shares -
4.04% (b)
15,983
(Cost $15,983)
Total Investments — 99.9%
17,146,373
(Cost $16,630,024)
Net Other Assets and
Liabilities — 0.1%
24,672
Net Assets — 100.0%
$17,171,045
 
(a)
Non-income producing security.
(b)
Rate shown reflects yield as of September 30, 2025.
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 17,130,390
$ 17,130,390
$ —
$ —
Money Market Funds
     15,983
     15,983
 —
 —
Total Investments
$17,146,373
$17,146,373
$—
$—
 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 2
First Trust Indxx Medical Devices ETF (MDEV)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS (a) — 99.6%
Biotechnology — 2.3%
850
Exact Sciences Corp. (b)
$46,504
Health Care Equipment &
Supplies — 72.3%
299
Abbott Laboratories
40,048
428
Alcon AG (CHF)
31,861
232
Align Technology, Inc. (b)
29,051
1,322
Baxter International, Inc.
30,102
187
Becton Dickinson & Co.
35,001
303
BioMerieux (EUR)
40,483
401
Boston Scientific Corp. (b)
39,150
624
Carl Zeiss Meditec AG (EUR)
30,887
232
Cochlear Ltd. (AUD)
42,869
360
Coloplast A/S, Class B (DKK)
30,745
493
Cooper (The) Cos., Inc. (b)
33,800
1,122
Demant A/S (DKK) (b)
38,859
553
Dexcom, Inc. (b)
37,211
545
Edwards Lifesciences Corp. (b)
42,385
1,881
Fisher & Paykel Healthcare
Corp., Ltd. (NZD)
40,403
597
GE HealthCare Technologies,
Inc.
44,835
524
Globus Medical, Inc.,
Class A (b)
30,010
651
Hologic, Inc. (b)
43,936
394
Hoya Corp. (JPY)
54,550
148
Insulet Corp. (b)
45,692
76
Intuitive Surgical, Inc. (b)
33,990
1,655
Koninklijke Philips N.V. (EUR)
44,768
246
Masimo Corp. (b)
36,297
451
Medtronic PLC
42,953
406
Merit Medical Systems, Inc. (b)
33,791
2,940
Olympus Corp. (JPY)
37,196
138
Penumbra, Inc. (b)
34,958
177
ResMed, Inc.
48,450
766
Siemens Healthineers AG
(EUR) (c) (d)
41,387
2,997
Smith & Nephew PLC (GBP)
53,910
132
Sonova Holding AG (CHF)
35,916
171
STERIS PLC
42,312
321
Straumann Holding AG (CHF)
34,235
107
Stryker Corp.
39,555
1,934
Sysmex Corp. (JPY)
23,860
288
Teleflex, Inc.
35,240
1,860
Terumo Corp. (JPY)
30,727
364
Zimmer Biomet Holdings, Inc.
35,854
 
1,447,277
Health Care Providers &
Services — 1.5%
1,873
Amplifon S.p.A. (EUR)
30,467
Shares
Description
Value
 
Life Sciences Tools & Services
— 23.5%
372
Agilent Technologies, Inc.
$47,746
160
Bio-Rad Laboratories, Inc.,
Class A (b)
44,862
206
Danaher Corp.
40,841
37
Mettler-Toledo International,
Inc. (b)
45,422
400
Revvity, Inc.
35,060
212
Sartorius Stedim Biotech (EUR)
42,823
87
Thermo Fisher Scientific, Inc.
42,197
118
Waters Corp. (b)
35,378
183
West Pharmaceutical Services,
Inc.
48,006
5,685
WuXi AppTec Co., Ltd., Class H
(HKD) (c) (d)
86,715
 
469,050
Total Common Stocks
1,993,298
(Cost $2,313,729)
MONEY MARKET FUNDS — 0.3%
6,432
Dreyfus Government Cash
Management Fund,
Institutional Shares -
4.04% (e)
6,432
(Cost $6,432)
Total Investments — 99.9%
1,999,730
(Cost $2,320,161)
Net Other Assets and
Liabilities — 0.1%
1,001
Net Assets — 100.0%
$2,000,731
 
(a)
Securities are issued in U.S. dollars unless otherwise
indicated in the security description.
(b)
Non-income producing security.
(c)
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (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.
(d)
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
(e)
Rate shown reflects yield as of September 30, 2025.
 
See Notes to Financial Statements
Page 3
First Trust Indxx Medical Devices ETF (MDEV)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Abbreviations throughout the Portfolio of Investments:
AUD
–  Australian Dollar
CHF
–  Swiss Franc
DKK
–  Danish Krone
EUR
–  Euro
GBP
–  British Pound Sterling
HKD
–  Hong Kong Dollar
JPY
–  Japanese Yen
NZD
–  New Zealand Dollar
USD
–  United States Dollar
 
Currency Exposure Diversification
% of Total
Investments
USD
61.4%
EUR
11.5
JPY
7.3
CHF
5.1
HKD
4.3
DKK
3.5
GBP
2.7
AUD
2.2
NZD
2.0
Total
100.0%
 
Country Allocation†
% of Net
Assets
United States
57.1%
Japan
7.3
Switzerland
5.1
China
4.3
Ireland
4.3
France
4.2
Germany
3.6
Denmark
3.5
United Kingdom
2.7
Netherlands
2.2
Australia
2.1
New Zealand
2.0
Italy
1.5
Total Investments
99.9
Net Other Assets and Liabilities
0.1
Total
100.0%
 
†
Portfolio securities are categorized based upon their country of
incorporation, which can be different from the country
categorization of the Fund’s underlying index.
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 1,993,298
$ 1,993,298
$ —
$ —
Money Market Funds
     6,432
     6,432
 —
 —
Total Investments
$1,999,730
$1,999,730
$—
$—
 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 4
First Trust Bloomberg R&D Leaders ETF (RND)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS — 99.9%
Aerospace & Defense — 2.5%
341
Boeing (The) Co. (a)
$73,598
Automobiles — 5.1%
337
Tesla, Inc. (a)
149,871
Biotechnology — 4.5%
563
Gilead Sciences, Inc.
62,493
47
Regeneron Pharmaceuticals, Inc.
26,427
116
Vertex Pharmaceuticals, Inc. (a)
45,430
 
134,350
Broadline Retail — 7.2%
976
Amazon.com, Inc. (a)
214,300
Communications Equipment
— 1.5%
94
Arista Networks, Inc. (a)
13,697
347
Cisco Systems, Inc.
23,742
16
Motorola Solutions, Inc.
7,316
 
44,755
Electrical Equipment — 2.2%
177
Eaton Corp. PLC
66,242
Electronic Equipment,
Instruments & Components
— 2.3%
544
Amphenol Corp., Class A
67,320
Energy Equipment & Services
— 0.7%
614
Schlumberger N.V.
21,103
Health Care Equipment &
Supplies — 5.5%
130
Becton Dickinson & Co.
24,332
668
Boston Scientific Corp. (a)
65,217
161
Intuitive Surgical, Inc. (a)
72,004
 
161,553
Hotels, Restaurants & Leisure
— 5.0%
172
Airbnb, Inc., Class A (a)
20,884
15
Booking Holdings, Inc.
80,989
171
DoorDash, Inc., Class A (a)
46,510
 
148,383
Insurance — 1.1%
94
Aon PLC, Class A
33,518
Interactive Media & Services
— 13.6%
1,215
Alphabet, Inc., Class A
295,367
145
Meta Platforms, Inc., Class A
106,485
 
401,852
IT Services — 0.8%
88
International Business Machines
Corp.
24,830
Shares
Description
Value
 
Machinery — 1.8%
114
Deere & Co.
$52,128
Personal Care Products —
0.5%
868
Kenvue, Inc.
14,088
Pharmaceuticals — 4.4%
137
Eli Lilly & Co.
104,531
184
Zoetis, Inc.
26,923
 
131,454
Semiconductors &
Semiconductor Equipment
— 16.6%
154
Advanced Micro Devices,
Inc. (a)
24,916
77
Applied Materials, Inc.
15,765
389
Broadcom, Inc.
128,335
13
KLA Corp.
14,022
122
Lam Research Corp.
16,336
83
Marvell Technology, Inc.
6,978
1,356
NVIDIA Corp.
253,002
104
QUALCOMM, Inc.
17,301
87
Texas Instruments, Inc.
15,984
 
492,639
Software — 15.6%
41
Adobe, Inc. (a)
14,463
113
AppLovin Corp., Class A (a)
81,195
20
Autodesk, Inc. (a)
6,353
26
Cadence Design Systems,
Inc. (a)
9,133
23
CrowdStrike Holdings, Inc.,
Class A (a)
11,279
61
Fortinet, Inc. (a)
5,129
26
Intuit, Inc.
17,756
431
Microsoft Corp.
223,236
158
Oracle Corp.
44,436
63
Palo Alto Networks, Inc. (a)
12,828
10
Roper Technologies, Inc.
4,987
20
ServiceNow, Inc. (a)
18,405
15
Synopsys, Inc. (a)
7,401
20
Workday, Inc., Class A (a)
4,815
 
461,416
Technology Hardware, Storage
& Peripherals — 9.0%
1,044
Apple, Inc.
265,834
Total Investments — 99.9%
2,959,234
(Cost $2,672,278)
Net Other Assets and
Liabilities — 0.1%
3,735
Net Assets — 100.0%
$2,962,969
 
(a)
Non-income producing security.
See Notes to Financial Statements
Page 5
First Trust Bloomberg R&D Leaders ETF (RND)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 2,959,234
$ 2,959,234
$ —
$ —
 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 6
First Trust New Constructs Core Earnings Leaders ETF (FTCE)
Portfolio of Investments
September 30, 2025 (Unaudited)
 
Shares
Description
Value
COMMON STOCKS — 99.9%
Aerospace & Defense — 3.5%
3,539
Boeing (The) Co. (a)
$763,823
876
L3Harris Technologies, Inc.
267,539
674
Northrop Grumman Corp.
410,682
260
TransDigm Group, Inc.
342,685
 
1,784,729
Air Freight & Logistics —
0.5%
1,032
FedEx Corp.
243,356
Automobiles — 5.0%
42,307
General Motors Co.
2,579,458
Beverages — 1.2%
8,918
Coca-Cola (The) Co.
591,442
373
Constellation Brands, Inc.,
Class A
50,232
 
641,674
Biotechnology — 3.5%
4,523
AbbVie, Inc.
1,047,255
331
Alnylam Pharmaceuticals,
Inc. (a)
150,936
3,184
Gilead Sciences, Inc.
353,424
657
Vertex Pharmaceuticals, Inc. (a)
257,308
 
1,808,923
Capital Markets — 3.4%
363
Blackrock, Inc.
423,211
267
Cboe Global Markets, Inc.
65,482
524
Coinbase Global, Inc.,
Class A (a)
176,845
1,460
Intercontinental Exchange, Inc.
245,981
201
LPL Financial Holdings, Inc.
66,870
388
Moody’s Corp.
184,874
192
MSCI, Inc.
108,943
1,193
Nasdaq, Inc.
105,521
784
S&P Global, Inc.
381,580
 
1,759,307
Chemicals — 1.3%
1,287
Air Products and Chemicals, Inc.
350,991
2,195
DuPont de Nemours, Inc.
170,991
1,339
PPG Industries, Inc.
140,742
 
662,724
Communications Equipment
— 2.6%
9,125
Arista Networks, Inc. (a)
1,329,604
Consumer Finance — 0.1%
966
Synchrony Financial
68,634
Electric Utilities — 1.2%
2,194
Entergy Corp.
204,459
1,794
Eversource Energy
127,625
Shares
Description
Value
 
Electric Utilities (Continued)
988
NRG Energy, Inc.
$160,007
3,503
PPL Corp.
130,171
 
622,262
Electrical Equipment — 0.5%
1,755
Vertiv Holdings Co., Class A
264,759
Electronic Equipment,
Instruments & Components
— 3.4%
5,652
Amphenol Corp., Class A
699,435
7,263
Corning, Inc.
595,784
806
Keysight Technologies, Inc. (a)
140,986
1,391
TE Connectivity PLC
305,366
 
1,741,571
Energy Equipment & Services
— 1.2%
17,641
Schlumberger N.V.
606,321
Entertainment — 6.9%
2,607
Spotify Technology S.A. (a)
1,819,686
3,445
Take-Two Interactive Software,
Inc. (a)
890,050
45,215
Warner Bros. Discovery, Inc. (a)
883,049
 
3,592,785
Financial Services — 6.3%
1,017
Apollo Global Management, Inc.
135,536
1,333
Fidelity National Information
Services, Inc.
87,898
1,408
Fiserv, Inc. (a)
181,533
2,074
Mastercard, Inc., Class A
1,179,712
2,476
PayPal Holdings, Inc. (a)
166,041
4,388
Visa, Inc., Class A
1,497,975
 
3,248,695
Health Care Equipment &
Supplies — 1.6%
734
Becton Dickinson & Co.
137,383
3,778
Boston Scientific Corp. (a)
368,846
888
Stryker Corp.
328,267
 
834,496
Hotels, Restaurants & Leisure
— 3.6%
12,200
Yum! Brands, Inc.
1,854,400
Household Durables — 1.9%
124
NVR, Inc. (a)
996,298
Household Products — 1.9%
623
Church & Dwight Co., Inc.
54,593
5,941
Procter & Gamble (The) Co.
912,835
 
967,428
Industrial Conglomerates —
1.2%
3,018
Honeywell International, Inc.
635,289
See Notes to Financial Statements
Page 7
First Trust New Constructs Core Earnings Leaders ETF (FTCE)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Shares
Description
Value
COMMON STOCKS (Continued)
Insurance — 2.5%
1,387
Aflac, Inc.
$154,928
666
Allstate (The) Corp.
142,957
1,486
American International Group,
Inc.
116,710
534
Aon PLC, Class A
190,414
909
Arch Capital Group Ltd.
82,474
648
Arthur J. Gallagher & Co.
200,712
31
Markel Group, Inc. (a)
59,252
1,259
Marsh & McLennan Cos., Inc.
253,726
252
Willis Towers Watson PLC
87,053
 
1,288,226
IT Services — 5.1%
7,220
International Business Machines
Corp.
2,037,195
2,720
Snowflake, Inc. (a)
613,496
 
2,650,691
Machinery — 0.6%
1,892
Ingersoll Rand, Inc.
156,317
1,852
Otis Worldwide Corp.
169,328
 
325,645
Metals & Mining — 1.1%
6,578
Newmont Corp.
554,591
Multi-Utilities — 1.1%
3,202
CenterPoint Energy, Inc.
124,238
1,772
Consolidated Edison, Inc.
178,121
4,195
Dominion Energy, Inc.
256,608
 
558,967
Oil, Gas & Consumable Fuels
— 0.8%
8,729
Occidental Petroleum Corp.
412,445
Personal Care Products —
0.1%
4,864
Kenvue, Inc.
78,943
Pharmaceuticals — 3.7%
5,203
Bristol-Myers Squibb Co.
234,655
2,176
Eli Lilly & Co.
1,660,288
 
1,894,943
Professional Services — 0.3%
298
Broadridge Financial Solutions,
Inc.
70,975
316
Equifax, Inc.
81,063
 
152,038
Real Estate Management &
Development — 0.4%
716
CBRE Group, Inc., Class A (a)
112,813
1,022
CoStar Group, Inc. (a)
86,226
 
199,039
Shares
Description
Value
 
Retail REITs — 0.3%
2,180
Realty Income Corp.
$132,522
Semiconductors &
Semiconductor Equipment
— 11.7%
36,827
Intel Corp. (a)
1,235,546
1,230
KLA Corp.
1,326,678
8,007
Marvell Technology, Inc.
673,149
4,884
Microchip Technology, Inc.
313,650
13,471
NVIDIA Corp.
2,513,419
 
6,062,442
Software — 13.1%
5,030
AppLovin Corp., Class A (a)
3,614,256
1,508
Atlassian Corp., Class A (a)
240,828
1,971
Autodesk, Inc. (a)
626,128
2,213
CrowdStrike Holdings, Inc.,
Class A (a)
1,085,211
2,312
Strategy, Inc. (a)
744,949
1,980
Workday, Inc., Class A (a)
476,645
 
6,788,017
Specialized REITs — 1.4%
1,146
American Tower Corp.
220,399
1,068
Crown Castle, Inc.
103,051
240
Equinix, Inc.
187,978
516
Extra Space Storage, Inc.
72,725
719
Iron Mountain, Inc.
73,295
263
SBA Communications Corp.
50,851
 
708,299
Technology Hardware, Storage
& Peripherals — 5.7%
10,374
Apple, Inc.
2,641,532
12,132
Hewlett Packard Enterprise Co.
297,962
 
2,939,494
Tobacco — 1.2%
3,942
Philip Morris International, Inc.
639,392
Total Investments — 99.9%
51,628,407
(Cost $44,115,200)
Net Other Assets and
Liabilities — 0.1%
30,665
Net Assets — 100.0%
$51,659,072
 
(a)
Non-income producing security.
 
Abbreviations throughout the Portfolio of Investments:
REITs
–  Real Estate Investment Trusts
See Notes to Financial Statements
Page 8
First Trust New Constructs Core Earnings Leaders ETF (FTCE)
Portfolio of Investments (Continued)
September 30, 2025 (Unaudited)
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
 
 
Total
Value at
9/30/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$ 51,628,407
$ 51,628,407
$ —
$ —
 
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 9
First Trust Exchange-Traded Fund VI
Statements of Assets and Liabilities
September 30, 2025 (Unaudited)
 
 
First Trust
Bloomberg
Shareholder
Yield ETF
(SHRY)
First Trust
Indxx Medical
Devices ETF
(MDEV)
First Trust
Bloomberg
R&D Leaders
ETF
(RND)
First Trust New
Constructs Core
Earnings
Leaders ETF
(FTCE)
ASSETS:
Investments, at value
$17,146,373
$1,999,730
$2,959,234
$51,628,407
Cash
—
—
4,653
33,913
Receivables:
Dividends
33,073
1,901
512
21,224
Reclaims
—
269
—
—
Total Assets
17,179,446
2,001,900
2,964,399
51,683,544
 
LIABILITIES:
Investment advisory fees payable
8,401
1,169
1,430
24,472
Total Liabilities
8,401
1,169
1,430
24,472
NET ASSETS
$17,171,045
$2,000,731
$2,962,969
$51,659,072
 
NET ASSETS consist of:
Paid-in capital
$18,747,338
$2,818,178
$2,571,404
$42,858,788
Par value
4,000
1,000
1,000
21,000
Accumulated distributable earnings (loss)
(1,580,293
)
(818,447
)
390,565
8,779,284
NET ASSETS
$17,171,045
$2,000,731
$2,962,969
$51,659,072
NET ASSET VALUE, per share
$42.93
$20.01
$29.63
$24.60
Number of shares outstanding (unlimited number of
shares authorized, par value $0.01 per share)
400,002
100,002
100,002
2,100,002
Investments, at cost
$16,630,024
$2,320,161
$2,672,278
$44,115,200
See Notes to Financial Statements
Page 10
First Trust Exchange-Traded Fund VI
Statements of Operations
For the Six Months Ended September 30, 2025 (Unaudited)
 
 
First Trust
Bloomberg
Shareholder
Yield ETF
(SHRY)
First Trust
Indxx Medical
Devices ETF
(MDEV)
First Trust
Bloomberg
R&D Leaders
ETF
(RND)
First Trust New
Constructs Core
Earnings
Leaders ETF
(FTCE)
INVESTMENT INCOME:
Dividends
$194,725
$10,522
$8,031
$351,007
Foreign withholding tax
(372
)
(2,224
)
—
(205
)
Total investment income
194,353
8,298
8,031
350,802
 
EXPENSES:
Investment advisory fees
53,216
 
7,068
 
7,899
 
136,940
 
Other expenses
1,400
151
192
3,312
Total expenses
54,616
7,219
8,091
140,252
NET INVESTMENT INCOME (LOSS)
139,737
1,079
(60
)
210,550
 
NET REALIZED AND UNREALIZED GAIN
(LOSS):
Net realized gain (loss) on:
Investments
(609,827
)
(21,794
)
(95,156
)
(2,142,388
)
In-kind redemptions
1,513,050
—
272,127
3,444,535
Foreign currency transactions
—
71
—
—
Net realized gain (loss)
903,223
(21,723
)
176,971
1,302,147
Net change in unrealized appreciation (depreciation)
on:
Investments
139,619
5,555
534,285
8,555,448
Foreign currency translation
—
11
—
—
Net change in unrealized appreciation (depreciation)
139,619
5,566
534,285
8,555,448
NET REALIZED AND UNREALIZED GAIN
(LOSS)
1,042,842
(16,157
)
711,256
9,857,595
NET INCREASE (DECREASE) IN NET
ASSETS RESULTING FROM
OPERATIONS
$1,182,579
$(15,078
)
$711,196
$10,068,145
See Notes to Financial Statements
Page 11
First Trust Exchange-Traded Fund VI
Statements of Changes in Net Assets
 
 
First Trust Bloomberg
Shareholder Yield ETF (SHRY)
First Trust Indxx Medical Devices
ETF (MDEV)
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year
Ended
3/31/2025 
Six Months
Ended
9/30/2025 
(Unaudited)
Year
Ended
3/31/2025 
OPERATIONS:
Net investment income (loss)
$139,737
$370,314
$1,079
$495
Net realized gain (loss)
903,223
2,103,546
(21,723
)
148,637
Net increase from payment by the advisor
—
—
—
1,328
Net change in unrealized appreciation (depreciation)
139,619
(1,036,027
)
5,566
(253,415
)
Net increase (decrease) in net assets resulting from
operations
1,182,579
1,437,833
(15,078
)
(102,955
)
 
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Investment operations
(152,446
)
(353,966
)
—
—
 
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold
6,364,736
 
14,251,176
 
—
 
—
 
Cost of shares redeemed
(8,466,420
) 
(18,098,815
) 
—
 
(1,079,074
) 
Net increase (decrease) in net assets resulting from
shareholder transactions
(2,101,684
)
(3,847,639
)
—
(1,079,074
)
Total increase (decrease) in net assets
(1,071,551
)
(2,763,772
)
(15,078
)
(1,182,029
)
 
NET ASSETS:
Beginning of period
18,242,596
21,006,368
2,015,809
3,197,838
End of period
$17,171,045
$18,242,596
$2,000,731
$2,015,809
 
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period
450,002
550,002
100,002
150,002
Shares sold
150,000
350,000
—
—
Shares redeemed
(200,000
)
(450,000
)
—
(50,000
)
Shares outstanding, end of period
400,002
450,002
100,002
100,002
 
(a)
Inception date is April 30, 2024, which is consistent with the commencement of investment operations and is the date the initial
creation units were established.
(b)
Inception date is October 2, 2024, which is consistent with the commencement of investment operations and is the date the initial
creation units were established.
See Notes to Financial Statements
Page 12
 
First Trust Bloomberg R&D
Leaders ETF (RND)
First Trust New Constructs Core
Earnings Leaders ETF (FTCE)
Six Months
Ended
9/30/2025 
(Unaudited)
Period
Ended
3/31/2025 (a)
Six Months
Ended
9/30/2025 
(Unaudited)
Period
Ended
3/31/2025 (b)
$(60
)
$547
$210,550
$256,737
176,971
403,998
1,302,147
58,898
—
—
—
—
534,285
(247,329
)
8,555,448
(1,042,241
)
711,196
157,216
10,068,145
(726,606
)
—
(1,100
)
(305,130
)
(244,565
)
1,369,994
 
5,663,520
 
14,707,905
 
43,847,346
 
(1,372,171
) 
(3,565,686
) 
(14,656,794
) 
(1,031,229
) 
(2,177
)
2,097,834
51,111
42,816,117
709,019
2,253,950
9,814,126
41,844,946
2,253,950
—
41,844,946
—
$2,962,969
$2,253,950
$51,659,072
$41,844,946
100,002
—
2,100,002
—
50,000
250,002
650,000
2,150,002
(50,000
)
(150,000
)
(650,000
)
(50,000
)
100,002
100,002
2,100,002
2,100,002
See Notes to Financial Statements
Page 13
First Trust Exchange-Traded Fund VI
Financial Highlights
For a share outstanding throughout each period
First Trust Bloomberg Shareholder Yield ETF (SHRY)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year Ended March 31,
 
2025
2024
2023
2022
2021 
Net asset value, beginning of period
$40.54
$38.19
$30.99
$33.35
$30.22
$18.85
Income from investment operations:
Net investment income (loss)
0.33
 (a)
0.75
 (a)
0.47
 (a)
0.49
 
0.38
 
0.34
 
Net realized and unrealized gain (loss)
2.42
 
2.32
 
7.23
 
(2.38
) 
3.13
 
11.39
 
Total from investment operations
2.75
 
3.07
 
7.70
 
(1.89
) 
3.51
 
11.73
 
Distributions paid to shareholders from:
Net investment income
(0.36
) 
(0.72
) 
(0.50
) 
(0.47
) 
(0.38
) 
(0.36
) 
Net asset value, end of period
$42.93
 
$40.54
 
$38.19
 
$30.99
 
$33.35
 
$30.22
 
Total return (b)
6.78
% 
8.09
% 
25.08
% 
(5.57
)% 
11.62
% 
62.65
% 
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$17,171
 
$18,243
 
$21,006
 
$17,046
 
$21,678
 
$25,689
 
Ratio of total expenses to average net assets
0.62
% (c) (d)
0.60
% 
0.60
% 
0.60
% 
0.60
% 
0.60
% 
Ratio of net investment income (loss) to average net
assets
1.58
% (c)
1.87
% 
1.46
% 
1.60
% 
1.13
% 
1.41
% 
Portfolio turnover rate (e)
73
% 
153
% 
107
% (f)
30
% 
21
% 
34
% 
 
(a)
Based on average shares outstanding.
(b)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(c)
Annualized.
(d)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
(e)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
(f)
The variation in the portfolio turnover rate is due to the Fund’s underlying index reconstitution which resulted in a complete change of the
Fund’s portfolio.
See Notes to Financial Statements
Page 14
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Indxx Medical Devices ETF (MDEV)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Year Ended March 31,
Period
Ended 
3/31/2022 (a)
 
2025
2024
2023
Net asset value, beginning of period
$20.16
$21.32
$20.39
$22.42
$25.17
Income from investment operations:
Net investment income (loss)
0.01
 (b)
0.00
 (b) (c)
(0.00
) (b) (c)
0.01
 
(0.46
) 
Net realized and unrealized gain (loss)
(0.16
) 
(1.16
) (d)
0.93
 
(2.04
) 
(2.29
) 
Total from investment operations
(0.15
) 
(1.16
) 
0.93
 
(2.03
) 
(2.75
) 
Net asset value, end of period
$20.01
 
$20.16
 
$21.32
 
$20.39
 
$22.42
 
Total return (e)
(0.74
)% 
(5.44
)% (d)
4.56
% 
(9.05
)% 
(10.93
)% 
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$2,001
 
$2,016
 
$3,198
 
$2,039
 
$2,242
 
Ratio of total expenses to average net assets
0.71
% (f) (g)
0.70
% 
0.70
% 
0.70
% 
0.70
% (f)
Ratio of net investment income (loss) to average net assets
0.11
% (f)
0.02
% 
(0.02
)% 
0.04
% 
(0.36
)% (f)
Portfolio turnover rate (h)
8
% 
20
% 
17
% 
22
% 
13
% 
 
(a)
Inception date is June 22, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units
were established.
(b)
Based on average shares outstanding.
(c)
Amount represents less than $0.01.
(d)
The Fund received a payment from the advisor in the amount of $1,328, which represents less than $0.01 per share. Since the advisor reimbursed
the Fund, there was no effect on the Fund’s total return.
(e)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(f)
Annualized.
(g)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.70%.
(h)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 15
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust Bloomberg R&D Leaders ETF (RND)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Period
Ended
3/31/2025 (a)
 
Net asset value, beginning of period
$22.54
$19.62
Income from investment operations:
Net investment income (loss) (b)
(0.00
) (c)
0.01
 
Net realized and unrealized gain (loss)
7.09
 
2.92
 
Total from investment operations
7.09
 
2.93
 
Distributions paid to shareholders from:
Net investment income
—
 
(0.01
) 
Net asset value, end of period
$29.63
 
$22.54
 
Total return (d)
31.46
% 
14.93
% 
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$2,963
 
$2,254
 
Ratio of total expenses to average net assets
0.61
% (e) (f)
0.60
% (e)
Ratio of net investment income (loss) to average net assets
(0.00
)% (e) (g)
0.03
% (e)
Portfolio turnover rate (h)
27
% 
41
% 
 
(a)
Inception date is April 30, 2024, which is consistent with the commencement of investment operations and is the date the initial creation units
were established.
(b)
Based on average shares outstanding.
(c)
Amount represents less than $0.01.
(d)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(e)
Annualized.
(f)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
(g)
Amount is less than 0.01%.
(h)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 16
First Trust Exchange-Traded Fund VI
Financial Highlights (Continued)
For a share outstanding throughout each period
First Trust New Constructs Core Earnings Leaders ETF (FTCE)
 
 
Six Months
Ended
9/30/2025 
(Unaudited)
Period
Ended
3/31/2025 (a)
 
Net asset value, beginning of period
$19.93
$20.03
Income from investment operations:
Net investment income (loss) (b)
0.10
 
0.14
 
Net realized and unrealized gain (loss)
4.72
 
(0.12
) 
Total from investment operations
4.82
 
0.02
 
Distributions paid to shareholders from:
Net investment income
(0.15
) 
(0.08
) 
Net realized gain
—
 
(0.04
) 
Total distributions
(0.15
) 
(0.12
) 
Net asset value, end of period
$24.60
 
$19.93
 
Total return (c)
24.22
% 
0.09
% 
 
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000’s)
$51,659
 
$41,845
 
Ratio of total expenses to average net assets
0.61
% (d) (e)
0.60
% (d)
Ratio of net investment income (loss) to average net assets
0.92
% (d)
1.40
% (d)
Portfolio turnover rate (f)
54
% 
46
% 
 
(a)
Inception date is October 2, 2024, which is consistent with the commencement of investment operations and is the date the initial creation units
were established.
(b)
Based on average shares outstanding.
(c)
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
(d)
Annualized.
(e)
Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.60%.
(f)
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind transactions.
See Notes to Financial Statements
Page 17
Notes to Financial Statements
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)

1. Organization
First Trust Exchange-Traded Fund VI (the “Trust”) is an open-end management investment company organized as a Massachusetts business trust on June 4, 2012, and is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the “1940 Act”).
This report covers the four funds (each a “Fund” and collectively, the “Funds”) listed below:
 
First Trust Bloomberg Shareholder Yield ETF – ((Nasdaq, Inc. (“Nasdaq”) ticker “SHRY”)
First Trust Indxx Medical Devices ETF – (CBOE BZX Exchange, Inc. ticker “MDEV”)
First Trust Bloomberg R&D Leaders ETF – (NYSE Arca, Inc. (“NYSE Arca”) ticker “RND”)
First Trust New Constructs Core Earnings Leaders ETF – (NYSE Arca ticker “FTCE”)
Each of RND and FTCE operates as a non-diversified series of the Trust. Each of SHRY and MDEV operates as a diversified open-end management investment company as defined in section 5(b) of the 1940 Act. Each Fund represents a separate series of shares of beneficial interest in the Trust. Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis at net asset value (“NAV”), only in large blocks of shares known as “Creation Units.” The investment objective of each Fund is to seek investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of the following indices:
 
Fund
Index
First Trust Bloomberg Shareholder Yield ETF
Bloomberg Shareholder Yield Index
First Trust Indxx Medical Devices ETF
Indxx Medical Devices Index
First Trust Bloomberg R&D Leaders ETF
Bloomberg R&D Leaders Select Index
First Trust New Constructs Core Earnings Leaders ETF
Bloomberg New Constructs Core Earnings Leaders Index
2. Significant Accounting Policies
The Funds are each considered an investment company and follow accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, “Financial Services-Investment Companies.” The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of the financial statements. The preparation of the financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.
A. Portfolio Valuation
Each Fund’s NAV is determined daily as of the close of regular trading on the New York Stock Exchange (“NYSE”), normally 4:00 p.m. Eastern time, on each day the NYSE is open for trading. If the NYSE closes early on a valuation day, the NAV is determined as of that time. Foreign securities are priced using data reflecting the earlier closing of the principal markets for those securities. Each Fund’s NAV is calculated by dividing the value of all assets of each Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of shares outstanding.
Each Fund’s investments are valued daily at market value or, in the absence of market value with respect to any portfolio securities, at fair value. Market value prices represent readily available market quotations such as last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. Fair value prices represent any prices not considered market value prices and are either obtained from a third-party pricing service or are determined by the Pricing Committee of the Funds’ investment advisor, First Trust Advisors L.P. (“First Trust” or the “Advisor”), in accordance with valuation procedures approved by the Trust’s Board of Trustees, and in accordance with provisions of the 1940 Act and rules thereunder. Investments valued by the Advisor’s Pricing Committee, if any, are footnoted as such in the footnotes to the Portfolio of Investments. Each Fund’s investments are valued as follows:
Common stocks and other equity securities listed on any national or foreign exchange (excluding Nasdaq and the London Stock Exchange Alternative Investment Market (“AIM”)) are valued at the last sale price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price. Securities traded on more than one securities exchange are valued at the last sale price or official closing price, as applicable, at the close of the securities exchange representing the primary exchange for such securities.
Page 18
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
Securities trading on foreign exchanges or over-the-counter markets that close prior to the NYSE close may be valued using a systematic fair valuation model provided by a third-party pricing service. If these foreign securities meet certain criteria in relation to the valuation model, their valuation is systematically adjusted to reflect the impact of movement in the U.S. market after the close of the foreign markets.
Equity securities traded in an over-the-counter market are valued at the close price or the last trade price.
Shares of open-end funds are valued based on NAV per share.
Certain securities may not be able to be priced by pre-established pricing methods. Such securities may be valued by the Advisor’s Pricing Committee at fair value. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933, as amended) for which a third-party pricing service is unable to provide a market price; securities whose trading has been formally suspended; a security whose market or fair value price is not available from a pre-established pricing source; a security with respect to which an event has occurred that is likely to materially affect the value of the security after the market has closed but before the calculation of a Fund’s NAV or make it difficult or impossible to obtain a reliable market quotation; and a security whose price, as provided by the third-party pricing service, does not reflect the security’s fair value. As a general principle, the current fair value of a security would appear to be the amount which the owner might reasonably expect to receive for the security upon its current sale. When fair value prices are used, generally they will differ from market quotations or official closing prices on the applicable exchanges. A variety of factors may be considered in determining the fair value of such securities, including, but not limited to, the following:
 1)
the last sale price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price;
 2)
the type of security;
 3)
the size of the holding;
 4)
the initial cost of the security;
 5)
transactions in comparable securities;
 6)
price quotes from dealers and/or third-party pricing services;
 7)
relationships among various securities;
 8)
information obtained by contacting the issuer, analysts, or the appropriate stock exchange;
 9)
an analysis of the issuer’s financial statements;
10)
the existence of merger proposals or tender offers that might affect the value of the security; and
11)
other relevant factors.
If the securities in question are foreign securities, the following additional information may be considered:
 1)
the last sale price on the exchange on which they are principally traded;
 2)
the value of similar foreign securities traded on other foreign markets;
 3)
ADR trading of similar securities;
 4)
closed-end fund or exchange-traded fund trading of similar securities;
 5)
foreign currency exchange activity;
 6)
the trading prices of financial products that are tied to baskets of foreign securities;
 7)
factors relating to the event that precipitated the pricing problem;
 8)
whether the event is likely to recur;
 9)
whether the effects of the event are isolated or whether they affect entire markets, countries or regions; and
10)
other relevant factors.
In addition, differences between the prices used to calculate a Fund’s NAV and the prices used by such Fund’s corresponding index could result in a difference between a Fund’s performance and the performance of its underlying index.
Because foreign markets may be open on different days than the days during which investors may transact in the shares of a Fund, the value of the Fund’s securities may change on the days when investors are not able to transact in the shares of the Fund. The value of the securities denominated in foreign currencies is converted into U.S. dollars using exchange rates determined daily as of the close of regular trading on the NYSE. Any use of a different rate from the rates used by a relevant index may adversely affect the Fund’s ability to track the index.
Page 19
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
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. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
•  Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following:
o  Quoted prices for similar investments in active markets.
o  Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly.
o  Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates).
o  Inputs that are derived principally from or corroborated by observable market data by correlation or other means.
•  Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs 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. A summary of the inputs used to value each Fund’s investments as of September 30, 2025, is included with each Fund’s Portfolio of Investments.
B. Securities Transactions and Investment Income
Securities transactions are recorded as of the trade date. Realized gains and losses from securities transactions are recorded on the identified cost basis. Dividend income is recorded on the ex-dividend date. Interest income, if any, is recorded on the accrual basis.
Withholding taxes and tax reclaims on foreign dividends have been provided for in accordance with each Fund’s understanding of the applicable country’s tax rules and rates.
Distributions received from a Fund’s investments in real estate investment trusts (“REITs”) may be comprised of return of capital, capital gains, and income. The actual character of the amounts received during the year are not known until after the REITs’ fiscal year end. A Fund records the character of distributions received from the REITs during the year based on estimates available. The characterization of distributions received by a Fund may be subsequently revised based on information received from the REITs after their tax reporting periods conclude.
C. Foreign Currency
The books and records of the Funds are maintained in U.S. dollars. Foreign currencies, investments and other assets and liabilities are translated into U.S. dollars at the exchange rates prevailing at the end of the period. Purchases and sales of investments and items of income and expense are translated on the respective dates of such transactions. Unrealized gains and losses on assets and liabilities, other than investments in securities, which result from changes in foreign currency exchange rates have been included in “Net change in unrealized appreciation (depreciation) on foreign currency translation” on the Statements of Operations. Unrealized gains and losses on investments in securities which result from changes in foreign exchange rates are included with fluctuations arising from changes in market price and are shown in “Net change in unrealized appreciation (depreciation) on investments” on the Statements of Operations. Net realized foreign currency gains and losses include the effect of changes in exchange rates between trade date and settlement date on investment security transactions, foreign currency transactions and interest and dividends received and are included in “Net realized gain (loss) on foreign currency transactions” on the Statements of Operations. The portion of foreign currency gains and losses related to fluctuations in exchange rates between the initial purchase settlement date and subsequent sale trade date is included in “Net realized gain (loss) on investments” on the Statements of Operations.
D. Dividends and Distributions to Shareholders
Dividends from net investment income of each Fund, if any, are declared and paid quarterly, or as the Board of Trustees may determine from time to time. Distributions of net realized capital gains earned by each Fund, if any, are distributed at least annually. Each Fund may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.
Page 20
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
Distributions from net investment income and realized capital gains are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These permanent differences are primarily due to the varying treatment of income and gain/loss on portfolio securities held by the Funds and have no impact on net assets or NAV per share. Temporary differences, which arise from recognizing certain items of income, expense and gain/loss in different periods for financial statement and tax purposes, will reverse at some time in the future.
The tax character of distributions paid by each Fund during the fiscal period ended March 31, 2025 were as follows:
 
 
Distributions
paid from
Ordinary
Income
Distributions
paid from
Capital
Gains
Distributions
paid from
Return of
Capital
First Trust Bloomberg Shareholder Yield ETF
$353,966
$—
$—
First Trust Indxx Medical Devices ETF
—
—
—
First Trust Bloomberg R&D Leaders ETF
1,100
—
—
First Trust New Constructs Core Earnings Leaders ETF
244,565
—
—
As of March 31, 2025, the components of distributable earnings on a tax basis for each Fund were as follows:
 
 
Undistributed
Ordinary
Income
Accumulated
Capital and
Other
Gain (Loss)
Net
Unrealized
Appreciation
(Depreciation)
First Trust Bloomberg Shareholder Yield ETF
$26,071
$(2,991,233
)
$354,736
First Trust Indxx Medical Devices ETF
201
(442,013
)
(361,557
)
First Trust Bloomberg R&D Leaders ETF
(335
)
(25,901
)
(294,395
)
First Trust New Constructs Core Earnings Leaders ETF
97,425
—
(1,081,156
)
E. Income Taxes
Each Fund intends to qualify or continue to qualify as a regulated investment company by complying with the requirements under Subchapter M of the Internal Revenue Code of 1986, as amended, which includes distributing substantially all of its net investment income and net realized gains to shareholders. Accordingly, no provision has been made for federal and state income taxes. However, due to the timing and amount of distributions, each Fund may be subject to an excise tax of 4% of the amount by which approximately 98% of each Fund’s taxable income exceeds the distributions from such taxable income for the calendar year.
The Funds are subject to accounting standards that establish a minimum threshold for recognizing, and a system for measuring, the benefits of a tax position taken or expected to be taken in a tax return. For SHRY and MDEV, taxable years ended 2022, 2023, 2024, and 2025 remain open to federal and state audit. For RND and FTCE, the taxable period ended 2025 remains open to federal and state audit. As of September 30, 2025, management has evaluated the application of these standards to the Funds and has determined that no provision for income tax is required in the Funds’ financial statements for uncertain tax positions.
Each Fund intends to utilize provisions of the federal income tax laws, which allow it to carry a realized capital loss forward indefinitely following the year of the loss and offset such loss against any future realized capital gains. Each Fund is subject to certain limitations under U.S. tax rules on the use of capital loss carryforwards and net unrealized built-in losses. These limitations apply when there has been a 50% change in ownership. At March 31, 2025, for federal income tax purposes, each applicable Fund had a capital loss carryforward available that is shown in the following table, to the extent provided by regulations, to offset future capital gains. To the extent that these loss carryforwards are used to offset future capital gains, it is probable that the capital gains so offset will not be distributed to each applicable Fund’s shareholders.
 
 
Non-Expiring
Capital Loss
Carryforwards
First Trust Bloomberg Shareholder Yield ETF
$2,991,233
First Trust Indxx Medical Devices ETF
442,013
First Trust Bloomberg R&D Leaders ETF
25,901
Page 21
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
 
Non-Expiring
Capital Loss
Carryforwards
First Trust New Constructs Core Earnings Leaders ETF
$—
During the taxable year ended March 31, 2025, the following Fund utilized capital loss carryforwards in the following amount:
 
 
Capital
Loss
Utilized
First Trust Bloomberg Shareholder Yield ETF
$72,664
Certain losses realized during the current fiscal year may be deferred and treated as occurring on the first day of the following fiscal year for federal income tax purposes. For the fiscal period ended March 31, 2025, the following Fund incurred and elected to defer net late year ordinary or capital losses as follows:
 
 
Qualified Late Year Losses
 
Ordinary Losses
Capital Losses
First Trust Bloomberg R&D Leaders ETF
$335
$—
 
As of September 30, 2025, the aggregate cost, gross unrealized appreciation, gross unrealized depreciation, and net unrealized appreciation/(depreciation) on investments (including short positions and derivatives, if any) for federal income tax purposes were as follows:
 
 
Tax Cost
Gross
Unrealized
Appreciation
Gross
Unrealized
(Depreciation)
Net Unrealized
Appreciation
(Depreciation)
First Trust Bloomberg Shareholder Yield ETF
$16,630,024
$1,380,198
$(863,849
)
$516,349
First Trust Indxx Medical Devices ETF
2,320,161
215,588
(536,019
)
(320,431
)
First Trust Bloomberg R&D Leaders ETF
2,672,278
339,361
(52,405
)
286,956
First Trust New Constructs Core Earnings Leaders ETF
44,115,200
8,534,511
(1,021,304
)
7,513,207
F. Expenses
Expenses, other than the investment advisory fee and other excluded expenses, are paid by the Advisor (see Note 3).
First Trust has entered into licensing agreements with each of the following “Licensors” for the respective Funds:
 
Fund
Licensor
First Trust Bloomberg Shareholder Yield ETF
Bloomberg Index Services Limited
First Trust Indxx Medical Devices ETF
Indxx, Inc.
First Trust Bloomberg R&D Leaders ETF
Bloomberg Index Services Limited
First Trust New Constructs Core Earnings Leaders ETF
Bloomberg Index Services Limited
The respective license agreements allow for the use by First Trust of each Fund’s respective index and of certain trademarks and trade names of the respective Licensor. The Funds are sub-licensees to the applicable license agreements.
G. Segment Reporting
Each Fund has adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures. Adoption of the standard impacted financial statement disclosures only and did not affect each Fund’s financial position or the results of its operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity’s chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The CODM is the President and Chief Executive Officer of each Fund. Each Fund operates as a single operating segment. Each Fund’s income, expenses, assets, changes in net assets resulting from
Page 22
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
operations and performance are regularly monitored and assessed as a whole by the CODM responsible for oversight functions of each Fund, using the information presented in the financial statements and financial highlights.
3. Investment Advisory Fee, Affiliated Transactions and Other Fee Arrangements
First Trust, the investment advisor to the Funds, is a limited partnership with one limited partner, Grace Partners of DuPage L.P., and one general partner, The Charger Corporation. The Charger Corporation is an Illinois corporation controlled by James A. Bowen, Chief Executive Officer of First Trust. First Trust is responsible for the selection and ongoing monitoring of the securities in each Fund’s portfolio, managing the Funds’ business affairs and providing certain administrative services necessary for the management of the Funds.
Pursuant to the Investment Management Agreement between the Trust and the Advisor, First Trust manages the investment of each Fund’s assets and is responsible for the expenses of each Fund, including the cost of transfer agency, custody, fund administration, legal, audit, license fees and other services, but excluding fee payments under the Investment Management Agreement, interest, taxes, if any, brokerage commissions and other expenses connected with the execution of portfolio transactions, distribution and service fees payable pursuant to a Rule 12b-1 plan, if any, acquired fund fees and expenses, and extraordinary expenses, which are paid by each respective Fund. The annual unitary management fee payable by each Fund to First Trust for these services will be reduced at certain levels of each Fund’s net assets (“breakpoints”) and calculated pursuant to the following schedule:
 
Breakpoints
SHRY
RND
FTCE
Fund net assets up to and including $2.5 billion
0.600
%
0.600
%
0.600
%
Fund net assets greater than $2.5 billion up to and including $5 billion
0.585
%
0.585
%
0.585
%
Fund net assets greater than $5 billion up to and including $7.5 billion
0.570
%
0.570
%
0.570
%
Fund net assets greater than $7.5 billion up to and including $10 billion
0.555
%
0.555
%
0.555
%
Fund net assets greater than $10 billion up to and including $15 billion
0.540
%
0.540
%
0.540
%
Fund net assets greater than $15 billion
0.510
%
0.510
%
0.510
%
 
Breakpoints
MDEV
Fund net assets up to and including $2.5 billion
0.7000
%
Fund net assets greater than $2.5 billion up to and including $5 billion
0.6825
%
Fund net assets greater than $5 billion up to and including $7.5 billion
0.6650
%
Fund net assets greater than $7.5 billion up to and including $10 billion
0.6475
%
Fund net assets greater than $10 billion
0.6300
%
During the fiscal year ended March 31, 2025, MDEV received a payment from the Advisor in the amount of $1,328 in connection with a trade error.
The Trust has multiple service agreements with The Bank of New York Mellon (“BNY”). Under the service agreements, BNY performs custodial, fund accounting, certain administrative services, and transfer agency services for each Fund. As custodian, BNY is responsible for custody of each Fund’s assets. As fund accountant and administrator, BNY is responsible for maintaining the books and records of each Fund’s securities and cash. As transfer agent, BNY is responsible for maintaining shareholder records for each Fund. BNY is a subsidiary of The Bank of New York Mellon Corporation, a financial holding company.
Each Trustee who is not an officer or employee of First Trust, any sub-advisor or any of their affiliates (“Independent Trustees”) is paid a fixed annual retainer that is allocated equally among each fund in the First Trust Fund Complex. Each Independent Trustee is also paid an annual per fund fee that varies based on whether the fund is a closed-end or other actively managed fund, a target outcome fund or an index fund.
Additionally, the Chairs of the Audit Committee, Nominating and Governance Committee and Valuation Committee, the Vice Chair of the Audit Committee, the Lead Independent Trustee and the Vice Lead Independent Trustee are paid annual fees to serve in such capacities, with such compensation allocated pro rata among each fund in the First Trust Fund Complex based on net assets. Independent Trustees are reimbursed for travel and out-of-pocket expenses in connection with all meetings. The Committee Chairs, the Audit Committee Vice Chair, the Lead Independent Trustee and the Vice Lead Independent Trustee rotate periodically in serving in such capacities. The officers and “Interested” Trustee receive no compensation from the Trust for acting in such capacities.
Page 23
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
4. Purchases and Sales of Securities
For the six months ended September 30, 2025, the cost of purchases and proceeds from sales of investments for each Fund, excluding short-term investments and in-kind transactions, were as follows:
 
 
Purchases
Sales
First Trust Bloomberg Shareholder Yield ETF
$12,833,245
$12,826,669
First Trust Indxx Medical Devices ETF
164,900
164,493
First Trust Bloomberg R&D Leaders ETF
698,810
697,839
First Trust New Constructs Core Earnings Leaders ETF
24,828,911
24,929,810
For the six months ended September 30, 2025, the cost of in-kind purchases and proceeds from in-kind sales for each Fund were as follows:
 
 
Purchases
Sales
First Trust Bloomberg Shareholder Yield ETF
$6,355,096
$8,478,585
First Trust Indxx Medical Devices ETF
—
—
First Trust Bloomberg R&D Leaders ETF
1,366,063
1,370,011
First Trust New Constructs Core Earnings Leaders ETF
14,695,719
14,655,981
5. Creations, Redemptions and Transaction Fees
Each Fund generally issues and redeems its shares in primary market transactions through a creation and redemption mechanism and does not sell or redeem individual shares. Instead, financial entities known as “Authorized Participants” have contractual arrangements with a Fund or one of the Fund’s service providers to purchase and redeem Fund shares directly with the Fund in Creation Units. Prior to the start of trading on every business day, a Fund publishes through the National Securities Clearing Corporation the “basket” of securities, cash or other assets that it will accept in exchange for a Creation Unit of the Fund’s shares. An Authorized Participant that wishes to effectuate a creation of a Fund’s shares deposits with the Fund the “basket” of securities, cash or other assets identified by the Fund that day, and then receives the Creation Unit of the Fund’s shares in return for those assets. After purchasing a Creation Unit, the Authorized Participant may continue to hold the Fund’s shares or sell them in the secondary market. The redemption process is the reverse of the purchase process: the Authorized Participant redeems a Creation Unit of a Fund’s shares for a basket of securities, cash or other assets. The combination of the creation and redemption process with secondary market trading in a Fund’s shares and underlying securities provides arbitrage opportunities that are designed to help keep the market price of a Fund’s shares at or close to the NAV per share of the Fund.
Each Fund imposes fees in connection with the purchase of Creation Units. These fees may vary based upon various fact-based circumstances, including, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the transactions are settled. The price for each Creation Unit will equal the daily NAV per share of a Fund times the number of shares in a Creation Unit, plus the fees described above and, if applicable, any operational processing and brokerage costs, transfer fees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising the creation basket.
Each Fund also imposes fees in connection with the redemption of Creation Units. These fees may vary based upon various fact-based circumstances, including, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the transactions are settled. The price received for each Creation Unit will equal the daily NAV per share of a Fund times the number of shares in a Creation Unit, minus the fees described above and, if applicable, any operational processing and brokerage costs, transfer fees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising the redemption basket. Investors who use the services of a broker or other such intermediary in addition to an Authorized Participant to effect a redemption of a Creation Unit may also be assessed an amount to cover the cost of such services. The redemption fee charged by a Fund will comply with Rule 22c-2 of the 1940 Act which limits redemption fees to no more than 2% of the value of the shares redeemed.
6. Distribution Plan
The Board of Trustees adopted a Distribution and Service Plan pursuant to Rule 12b-1 under the 1940 Act. In accordance with the Rule 12b-1 plan, the Funds are authorized to pay an amount up to 0.25% of their average daily net assets each year to reimburse First Trust Portfolios L.P. (“FTP”), the distributor of the Funds, for amounts expended to finance activities primarily intended to result in
Page 24
Notes to Financial Statements (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
the sale of Creation Units or the provision of investor services. FTP may also use this amount to compensate securities dealers or other persons that are Authorized Participants for providing distribution assistance, including broker-dealer and shareholder support and educational and promotional services.
No 12b-1 fees are currently paid by the Funds, and pursuant to a contractual arrangement, no 12b-1 fees will be paid any time before July 31, 2026 for all the Funds, with the exception of FTCE, which will not pay fees any time before September 27, 2026.
7. Indemnification
The Trust, on behalf of the Funds, has a variety of indemnification obligations under contracts with its service providers. The Trust’s maximum exposure under these arrangements is unknown. However, the Trust has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.
8. Subsequent Events
Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were issued and has determined that there were no subsequent events requiring recognition or disclosure in the financial statements that have not already been disclosed.
Page 25
Other Information
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)

Changes in and Disagreements with Accountants (Item 8 of Form N-CSR)
There were no changes in or disagreements with the Funds’ accountants during the six months ended September 30, 2025.
Proxy Disclosures (Item 9 of Form N-CSR)
At a special meeting of shareholders of First Trust Exchange-Traded Fund VI (the “Trust”) that was held on August 12, 2025 (the “Special Meeting”), shareholders of record as of June 9, 2025 (the “Record Date”) approved a proposal (the “Proposal”) to elect or re-elect, as applicable, each of the eight nominees listed below to the Board of Trustees of the Trust (the “Board”). Shareholders of each series of the Trust that had publicly offered shares as of the Record Date (each, a “fund”) voted together with shareholders of the other funds on the Proposal, and the results are set forth below. There were no broker non-votes.
 
James A. Bowen*
Votes For
Votes Withheld
651,722,898
5,064,462
Thomas J. Driscoll**
Votes For
Votes Withheld
651,998,702
4,788,658
Richard E. Erickson*
Votes For
Votes Withheld
643,054,997
13,732,363
Thomas R. Kadlec*
Votes For
Votes Withheld
643,100,488
13,686,872
Denise M. Keefe***
Votes For
Votes Withheld
651,736,288
5,051,072
Robert F. Keith*
Votes For
Votes Withheld
643,383,276
13,404,084
Niel B. Nielson*
Votes For
Votes Withheld
643,178,094
13,609,266
Bronwyn Wright***
Votes For
Votes Withheld
412,521,907
244,265,453
 
*
This nominee was re-elected to the Board at the Special Meeting.
**
This nominee was elected to the Board as a new Trustee at the Special Meeting.
***
This nominee was elected to the Board at the Special Meeting and had previously been appointed to the Board.
Remuneration Paid to Directors, Officers, and Others (Item 10 of Form N-CSR)
Independent Trustees and any member of any advisory board of each Fund are compensated through the unitary management fee paid by each Fund to the advisor and not directly by each Fund. The investment advisory fee paid is included in the Statements of Operations.
Page 26
Other Information (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
Statement Regarding the Basis for the Board’s Approval of Investment Advisory Contract (Item 11 of Form N-CSR)
The Board of Trustees of First Trust Exchange-Traded Fund VI (the “Trust”), including the Independent Trustees, unanimously approved the continuation of the Investment Management Agreements (as applicable to a specific Fund, the “Agreement” and collectively, the “Agreements”) with First Trust Advisors L.P. (the “Advisor”) on behalf of the following series of the Trust (each a “Fund” and collectively, the “Funds”):
First Trust Bloomberg R&D Leaders ETF (RND)
First Trust Bloomberg Shareholder Yield ETF (SHRY)
First Trust Indxx Medical Devices ETF (MDEV)
The Board approved the continuation of the Agreement for each Fund for a one-year period ending June 30, 2026 at a meeting held on June 8–9, 2025. The Board determined for each Fund that the continuation of the Agreement is in the best interests of the Fund in light of the nature, extent and quality of the services provided and such other matters as the Board considered to be relevant in the exercise of its business judgment.
To reach this determination for each Fund, the Board considered its duties under the Investment Company Act of 1940, as amended (the “1940 Act”), as well as under the general principles of state law, in reviewing and approving advisory contracts; the requirements of the 1940 Act in such matters; the fiduciary duty of investment advisors with respect to advisory agreements and compensation; the standards used by courts in determining whether investment company boards have fulfilled their duties; and the factors to be considered by the Board in voting on such agreements. At meetings held on April 22, 2025 and June 8–9, 2025, the Board, including the Independent Trustees, reviewed materials provided by the Advisor responding to requests for information from counsel to the Independent Trustees, submitted on behalf of the Independent Trustees, that, among other things, outlined: the services provided by the Advisor to each Fund (including the relevant personnel responsible for these services and their experience); the unitary fee rate schedule payable by each Fund as compared to fees charged to a peer group of funds (the “Expense Group”) and a broad peer universe of funds (the “Expense Universe”), each assembled by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent source, and as compared to fees charged to other clients of the Advisor, including other exchange-traded funds (“ETFs”) managed by the Advisor; the expense ratio of each Fund as compared to expense ratios of the funds in the Fund’s Expense Group and Expense Universe; performance information for each Fund, including comparisons of SHRY’s and MDEV’s performance to that of one or more relevant benchmark indexes and to that of a performance group of funds and a broad performance universe of funds (the “Performance Universe”), each assembled by Broadridge; the nature of expenses incurred in providing services to each Fund and the potential for the Advisor to realize economies of scale, if any; profitability and other financial data for the Advisor; any indirect benefits to the Advisor and its affiliate, First Trust Portfolios L.P. (“FTP”); and information on the Advisor’s compliance program. The Board reviewed initial materials with the Advisor at the meeting held on April 22, 2025, prior to which the Independent Trustees and their counsel met separately to discuss the information provided by the Advisor. Following the April meeting, counsel to the Independent Trustees, on behalf of the Independent Trustees, requested certain clarifications and supplements to the materials provided, and the information provided in response to those requests was considered at an executive session of the Independent Trustees and their counsel held prior to the June 8–9, 2025 meeting, as well as at the June meeting. The Board applied its business judgment to determine whether the arrangement between the Trust and the Advisor continues to be a reasonable business arrangement from each Fund’s perspective. The Board determined that, given the totality of the information provided with respect to the Agreements, the Board had received sufficient information to renew the Agreements. The Board considered that shareholders chose to invest or remain invested in a Fund knowing that the Advisor manages the Fund and knowing the Fund’s unitary fee.
In reviewing the Agreement for each Fund, the Board considered the nature, extent and quality of the services provided by the Advisor under the Agreement. The Board considered that the Advisor is responsible for the overall management and administration of the Trust and each Fund and reviewed all of the services provided by the Advisor to the Funds, as well as the background and experience of the persons responsible for such services. In reviewing the services provided, the Board noted the compliance program that had been developed by the Advisor and considered that it includes a robust program for monitoring the Advisor’s and each Fund’s compliance with the 1940 Act, as well as each Fund’s compliance with its investment objective, policies and restrictions. The Board also considered a report from the Advisor with respect to its risk management functions related to the operation of the Funds. Finally, as part of the Board’s consideration of the Advisor’s services, the Advisor, in its written materials and at the April 22, 2025 meeting, described to the Board the scope of its ongoing investment in additional personnel and infrastructure to maintain and improve the quality of services provided to the Funds and the other funds in the First Trust Fund Complex. In light of the information presented and the considerations made, the Board concluded that the nature, extent and quality of the services provided to the Trust and each Fund by the Advisor under the Agreements have been and are expected to remain satisfactory and that the Advisor has managed each Fund consistent with its investment objective, policies and restrictions.
Page 27
Other Information (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
The Board considered the unitary fee rate schedule payable by each Fund under the applicable Agreement for the services provided. The Board considered that as part of the unitary fee the Advisor is responsible for each Fund’s expenses, including the cost of transfer agency, custody, fund administration, legal, audit and other services and license fees, if any, but excluding the fee payment under the applicable Agreement and interest, taxes, brokerage commissions and other expenses connected with the execution of portfolio transactions, distribution and service fees pursuant to a Rule 12b-1 plan, if any, and extraordinary expenses, if any. The Board received and reviewed information showing the fee rates and expense ratios of the peer funds in the Expense Groups, as well as advisory and unitary fee rates charged by the Advisor to other fund (including ETFs) and non-fund clients, as applicable. Because each Fund pays a unitary fee, the Board determined that expense ratios were the most relevant comparative data point. Based on the information provided, the Board noted that the total (net) expense ratio for each Fund was above the median total (net) expense ratio of the peer funds in its respective Expense Group. With respect to the Expense Groups, the Board discussed with the Advisor limitations in creating peer groups for index ETFs, including differences in underlying indexes and index-tracking methodologies that can result in greater management complexities across seemingly comparable ETFs, and different business models that may affect the pricing of services among ETF sponsors. The Board took these limitations and differences into account in considering the peer data. With respect to fees charged to other non-ETF clients, the Board considered differences between the Funds and other non-ETF clients that limited their comparability. In considering the unitary fee rate schedules overall, the Board also considered the Advisor’s statement that it seeks to meet investor needs through innovative and value-added investment solutions and the Advisor’s demonstrated long-term commitment to each Fund and the other funds in the First Trust Fund Complex.
The Board considered performance information for each Fund. The Board noted the process it has established for monitoring each Fund’s performance and portfolio risk on an ongoing basis, which includes quarterly performance reporting from the Advisor for the Funds. The Board determined that this process continues to be effective for reviewing each Fund’s performance. For SHRY and MDEV, the Board received and reviewed information for periods ended December 31, 2024 regarding the performance of each Fund’s underlying index, the correlation between each Fund’s performance and that of its underlying index, each Fund’s tracking difference and each Fund’s excess return as compared to its benchmark index. With respect to SHRY, the Board noted that during 2023, it approved changes to the Fund’s investment objective and, effective March 4, 2024, the Fund changed its name and ticker symbol and began tracking the Bloomberg Shareholder Yield Index, and that the performance information included a blend of the old and new indexes. Based on the information provided and its ongoing review of performance, the Board concluded that each of SHRY and MDEV was correlated to its underlying index and that the tracking difference for each of SHRY and MDEV was within a reasonable range and noted the Advisor’s discussion of MDEV’s correlation at the April 22, 2025 meeting. In addition, the Board reviewed data prepared by Broadridge comparing each Fund’s performance to that of its respective Performance Universe and to that of a benchmark index. Because RND commenced operations on April 30, 2024 and therefore has a limited performance history, comparative performance information for RND was not reviewed. However, given each Fund’s objective of seeking investment results that correspond generally to the performance of its underlying index, the Board placed more emphasis on its review of correlation and tracking difference.
On the basis of all the information provided on the unitary fee and performance of each Fund and the ongoing oversight by the Board, the Board concluded that the unitary fee for each Fund continues to be reasonable and appropriate in light of the nature, extent and quality of the services provided by the Advisor to each Fund under the Agreements.
The Board considered information and discussed with the Advisor whether there were any economies of scale in connection with providing advisory services to the Funds at current asset levels and whether the Funds may benefit from any economies of scale. The Board noted that the unitary fee rate schedule for each Fund includes breakpoints pursuant to which the unitary fee rate will be reduced as assets of the Fund meet certain thresholds. The Board considered the Advisor’s statement that it believes that its expenses relating to providing advisory services to the Funds will increase during the next twelve months as the Advisor continues to build infrastructure and add new staff. The Board also noted that under the unitary fee structure, any reduction in expenses associated with the management and operations of the Funds would benefit the Advisor, but that the unitary fee structure provides a level of certainty in expenses for shareholders of the Funds. The Board concluded that the unitary fee rate schedule for each Fund reflects an appropriate level of sharing of any economies of scale that may be realized in the management of the Fund at current asset levels. The Board considered the revenues and allocated costs (including the allocation methodology) of the Advisor in serving as investment advisor to RND for the period from inception through December 31, 2024 and to each of SHRY and MDEV for the twelve months ended December 31, 2024 and the estimated profitability level for each Fund calculated by the Advisor based on such data, as well as complex-wide and product-line profitability data, for the twelve months ended December 31, 2024. The Board noted the inherent limitations in the profitability analysis and concluded that, based on the information provided, the Advisor’s profitability level for each Fund was not unreasonable. In addition, the Board considered indirect benefits described by the Advisor that may be realized from its relationship with the Funds. The Board considered that the Advisor had identified as an indirect benefit to the Advisor and FTP their
Page 28
Other Information (Continued)
First Trust Exchange-Traded Fund VI
September 30, 2025 (Unaudited)
exposure to investors and brokers who, absent their exposure to the Funds, may have had no dealings with the Advisor or FTP, and noted that the Advisor does not utilize soft dollars in connection with the Funds. The Board concluded that the character and amount of potential indirect benefits to the Advisor were not unreasonable.
Based on all of the information considered and the conclusions reached, the Board, including the Independent Trustees, unanimously determined that the terms of the Agreements continue to be fair and reasonable and that the continuation of the Agreements is in the best interests of each Fund. No single factor was determinative in the Board’s analysis.
Disclaimers
First Trust Bloomberg Shareholder Yield ETF
First Trust Bloomberg R&D Leaders ETF
First Trust New Constructs Core Earnings Leaders ETF
“Bloomberg®”, Bloomberg Shareholder Yield Index, Bloomberg R&D Leaders Select Index and Bloomberg New Constructs Core Earnings Leaders Index referenced herein (the “Indices” and each such index, an “Index”) are trademarks or service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the Indices (collectively, “Bloomberg”) and/or one or more third-party providers (each such provider, a “Third-Party Provider”), and have been licensed for use for certain purposes to First Trust Advisors L.P. (the “Licensee”). Bloomberg is not affiliated with the Licensee or a Third Party Provider, and Bloomberg does not approve, endorse, review, or recommend the financial products referenced herein (the “Financial Products”). Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Indices or the Financial Products.
First Trust Indxx Medical Devices ETF
Indxx and Indxx Medical Devices Index (“Index”) are trademarks of Indxx, Inc. (“Indxx”) and have been licensed for use for certain purposes by First Trust. The Fund is not sponsored, endorsed, sold or promoted by Indxx, and Indxx makes no representation regarding the advisability of trading in such product. The Index is determined, composed and calculated by Indxx without regard to First Trust or the Fund.
Page 29