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First Trust Value Line® Dividend Index Fund (FVD)



  First Trust Value Line® Dividend Index Fund (FVD)

FVD Celebrates 10-Years Outperforming the S&P 500 Index

Business Wire

WHEATON, Ill. -- September 17, 2013

First Trust Advisors L.P. (“First Trust”) today announced that First Trust
Value Line^® Dividend Index Fund (NYSE Arca: FVD), an index exchange-traded
fund advised by First Trust, celebrated its 10-year anniversary while
outperforming the S&P 500 Index. Over the past decade ending 8/30/13, the fund
outperformed the S&P 500 Index by 2.0% annually. Among its accomplishments,
the fund has achieved a 5-Star Overall Morningstar Rating™ as of 8/30/13,
among 1028 funds in the Large Value category based on the ETF’s Morningstar
Risk-Adjusted Return measure.§

Dividend-paying ETF strategies have grown in popularity with investors seeking
income in a historically low interest rate environment. “While the field has
become more crowded over the past few years, FVD has distinguished itself for
over a decade as an effective tool for investors seeking below-average
volatility with above-average dividends,” said Ryan Issakainen, Senior Vice
President and ETF Strategist at First Trust. More important than the simple
dividend yield of the various ETFs, are the strategies in place to allocate
into companies based off of their dividend policy, in our opinion. The
methodology of the index that FVD tracks is not focused on finding the highest
dividend-paying stocks. Rather, the index looks for quality companies as
determined by Value Line’s^® safety rankings that have an above-average
dividend yield when compared to the S&P 500 dividend yield.

One important lesson investors have learned is that “chasing yield” is not
always the best approach when implementing a dividend strategy. FVD seeks to
counter this by providing dividend potential with a total return approach.
This methodology has rewarded investors as FVD has performed well as compared
to the S&P 500 over various time periods ending 8/30/13. Since its inception
on August 19, 2003, FVD realized an 8.60% average annual total return vs. the
S&P 500’s 7.16%. Over the 5-year period, the fund had an average annual total
return of 9.31% vs. the S&P 500’s performance of 7.32%. The fund’s 30-day SEC
yield^† was 2.68% as of 8/30/13.

About the First Trust Value Line^® Dividend Index Fund (FVD)

This exchange-traded fund seeks investment results that correspond generally
to the price and yield (before the fund’s fees and expenses) of an equity
index called the Value Line^® Dividend Index™.

The index begins with the universe of stocks that Value Line^® gives a Safety™
Ranking of #1 or #2 using the Value Line^® Safety™ Ranking System. All
registered investment companies, limited partnerships and foreign securities
not listed in the U.S. are removed from this universe. From those stocks,
Value Line^® selects those companies with a higher than average dividend
yield, as compared to the indicated dividend yield of the Standard & Poor’s
500 Composite Stock Price Index. Value Line^® then eliminates those companies
with an equity market capitalization of less than $1 billion. The index seeks
to be equally weighted in each of the securities in the index. The index is
rebalanced on the application of the above model on a monthly basis.

                                                                   
Month End                                                           Since Fund
Performance (%)
as of 8/30/13     Quarter   YTD     1 Yr.   3 Yr.   5 Yr.   10      Inception
                                                            Yr.
Fund
Performance*
NAV               0.33      15.06   17.78   16.95   9.31    9.13    8.60
After Tax Held    0.03      14.45   16.51   15.79   8.17    7.42    6.91
After Tax Sold    0.19      8.52    10.14   12.83   6.81    6.75    6.30
Market Price      0.28      15.10   17.64   16.92   9.31    8.63    8.60
Index                                                                
Performance
Value Line®
Dividend          0.52      15.65   18.63   17.88   10.17   N/A     N/A
Index**
Dow Jones
Select Dividend   1.12      15.18   17.72   18.26   8.76    N/A     N/A
Index^SM
S&P 500 Index     0.67      16.15   18.70   18.40   7.32    7.12    7.16

Quarter End Performance                                             Since Fund
(%)
as of 6/28/13             Quarter   YTD     1 Yr.   3 Yr.   5 Yr.   Inception
Fund Performance*
NAV                       1.21      13.89   19.08   18.17   9.99    8.64
After Tax Held            0.91      13.28   17.79   17.00   8.84    6.92
After Tax Sold            0.68      7.86    10.89   13.82   7.36    6.32
Market Price              1.21      13.92   19.15   18.17   9.99    8.64
Index Performance                                                    
Value Line® Dividend      1.46      14.39   20.00   19.14   10.87   N/A
Index**
Dow Jones Select          1.86      13.85   18.45   19.36   10.38   N/A
Dividend Index^SM
S&P 500 Index             2.91      13.82   20.60   18.45   7.01    7.07

Gross Expense Ratio^: 0.76%
Net Expense Ratio: 0.70%

Performance data quoted represents past performance. Past performance is not a
guarantee of future results and current performance may be higher or lower
than performance quoted. Investment returns and principal value will fluctuate
and shares when sold or redeemed, may be worth more or less than their
original cost. You can obtain performance information which is current through
the most recent month-end by visiting ftportfolios.com.

For more information about First Trust, please contact Chris Moon of JCPR at
973-850-7304 or cmoon@jcprinc.com.

About First Trust

First Trust Advisors L.P., along with its affiliate First Trust Portfolios
L.P., are privately-held companies which provide a variety of investment
services, including asset management and financial advisory services, with
collective assets under management or supervision of approximately $72 billion
as of August 31, 2013 through unit investment trusts, exchange-traded funds,
closed-end funds, mutual funds and separate managed accounts. First Trust is
based in Wheaton, Illinois. For more information, visit
http://www.ftportfolios.com.

*On December 15, 2006, the fund acquired the assets and adopted the
performance history of the First Trust Value Line® Dividend Fund, a closed-end
fund. The investment goals, strategies and policies of the fund are
substantially similar to those of the predecessor fund. Performance
information for periods prior to December 15, 2006 is based on the performance
history of the predecessor fund and reflects the operating expenses of the
predecessor fund. After Tax Held returns represent return after taxes on
distributions. Assumes shares have not been sold. After Tax Sold returns
represent the return after taxes on distributions and the sale of fund shares.
Returns do not represent the returns you would receive if you traded shares at
other times. Market Price returns are based on the midpoint of the bid/ask
spread. Returns are average annualized total returns, except those for periods
of less than one year, which are cumulative. The fund’s performance reflects
fee waivers and expense reimbursements, absent which performance would have
been lower. After-tax returns are calculated using the historical highest
individual federal marginal income tax rates and do not reflect the impact of
state and local taxes. Actual after-tax returns depend on the investor’s tax
situation and may differ from those shown. The after-tax returns shown are not
relevant to investors who hold their fund shares through tax-deferred
arrangements such as 401(k) plans or individual retirement accounts.

**Performance information for the Value Line® Dividend Index™ is for
illustrative purposes only and does not represent actual fund performance. The
Index does not charge management fees or brokerage expenses, and no such fees
or expenses were deducted from the performance shown. Indexes are unmanaged
and an investor cannot invest directly in an index.

^Expenses are capped contractually at 0.70% per year, at least until April 30,
2014.

†30-day SEC yield is calculated by dividing the net investment income per
share earned during the most recent 30-day period by the maximum offering
price per share on the last day of the period.

You should consider the fund’s investment objectives, risks, and charges and
expenses carefully before investing. Contact First Trust Portfolios L.P. at
1-800-621-1675 or visit www.ftportfolios.com to obtain a prospectus or summary
prospectus which contains this and other information about the fund. The
prospectus or summary prospectus should be read carefully before investing.

ETF Characteristics

The fund lists and principally trades its shares on the NYSE Arca, Inc.

The fund’s return may not match the return of the Value Line® Dividend Index™.
The fund may not be fully invested at times. Securities held by the fund will
generally not be bought or sold in response to market fluctuations.

Investors buying or selling fund shares on the secondary market may incur
customary brokerage commissions. Market prices may differ to some degree from
the net asset value of the shares. Investors who sell fund shares may receive
less than the share’s net asset value. Shares may be sold throughout the day
on the exchange through any brokerage account. However, unlike mutual funds,
shares may only be redeemed directly from the fund by authorized participants,
in very large creation/redemption units.

Risk Considerations

The fund’s shares will change in value, and you could lose money by investing
in the fund. One of the principal risks of investing in the fund is market
risk. Market risk is the risk that a particular stock owned by the fund, fund
shares or stocks in general may fall in value.

The fund may invest in securities issued by companies concentrated in a
particular industry. The fund may invest in small capitalization and mid
capitalization companies. Such companies may experience greater price
volatility than larger, more established companies.

First Trust Advisors L.P. is the adviser to the fund. First Trust Advisors
L.P. is an affiliate of First Trust Portfolios L.P., the fund’s distributor.

“Value Line®” and “Value Line® Dividend Index” are trademarks of Value Line®,
Inc. and have been licensed for use for certain purposes by First Trust on
behalf of the Fund. The Fund, based on the Value Line® Dividend Index, is not
sponsored, endorsed, sold, or promoted by Value Line®, Inc., and Value Line®
makes no representation regarding the advisability of investing in the Fund.

§This fund was rated 4 stars/1028 funds (3 years), 5 stars/928 funds (5
years), 5 stars/607 funds (10 years).The Morningstar Rating™ is provided for
those exchange-traded funds (“ETFs”) with at least a three-year history.
Ratings are based on the ETF’s Morningstar Risk-Adjusted Return measure which
accounts for variation in monthly performance, placing more emphasis on
downward variations and rewarding consistent performance. An ETF’s
risk-adjusted return includes a brokerage commission estimate. This estimate
is intended to reflect what an average investor would pay when buying or
selling an ETF. PLEASE NOTE, this estimate is subject to change and the actual
brokerage commission an investor pays may be higher or lower than this
estimate. Morningstar compares each ETF’s risk-adjusted return to the open-end
mutual fund rating breakpoints for that category. Consistent with the open-end
mutual fund ratings, the top 10% of ETFs in each category receive 5 stars, the
next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5%
receive 2 stars and the bottom 10% receive 1 star. The overall rating for an
ETF is based on a weighted average of the time-period ratings (e.g., the ETF’s
3,5, and 10 year rating). The determination of an ETF’s rating does not affect
the retail open end mutual fund data published by Morningstar. ©2013
Morningstar, Inc. All Rights Reserved. The Morningstar Rating™ information
contained herein: (1) is proprietary to Morningstar; (2) may not be copied or
distributed; and (3) is not warranted to be accurate, complete or timely.
Neither Morningstar nor its content providers are responsible for any damages
or losses arising from any use of this information. Past performance is no
guarantee of future results.

Contact:

JCPR
Chris Moon
973-850-7304
cmoon@jcprinc.com
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