First Trust Advisors L.P. Announces Distributions for Exchange-Traded Funds

First Trust Advisors L.P. ("FTA") announces the declaration of the
monthly distributions for certain exchange-traded funds advised by FTA.

FTA is a federally registered investment advisor and serves as the
Funds' investment advisor. FTA and its affiliate First Trust Portfolios
L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held
companies that provide a variety of investment services. FTA has
collective assets under management or supervision of approximately $127
billion as of March 31, 2019 through unit investment trusts,
exchange-traded funds, closed-end funds, mutual funds and separate
managed accounts. FTA is the supervisor of the First Trust unit
investment trusts, while FTP is the sponsor. FTP is also a distributor
of mutual fund shares and exchange-traded fund creation units. FTA and
FTP are based in Wheaton, Illinois.

You should consider the investment objectives, risks, charges and
expenses of a Fund before investing. Prospectuses for the Funds contain
this and other important information and are available free of charge by
calling toll-free at 1-800-621-1675 or visiting www.ftportfolios.com.
A prospectus should be read carefully before investing.

Past performance is no assurance of future results. Investment return
and market value of an investment in a Fund will fluctuate. Shares, when
sold, may be worth more or less than their original cost.

Principal Risk Factors: A Fund's shares will change in value, and you
could lose money by investing in a Fund. An investment in a Fund is not
a deposit of a bank and is not insured or guaranteed by the Federal
Deposit Insurance Corporation or any other governmental agency. There
can be no assurance that a Fund's investment objectives will be
achieved. An investment in a Fund involves risks similar to those of
investing in any portfolio of equity securities traded on exchanges. The
risks of investing in each Fund are spelled out in its prospectus,
shareholder report, and other regulatory filings.

An Index ETF seeks investment results that correspond generally to the
price and yield of an index. You should anticipate that the value of an
Index Fund's shares will decline, more or less, in correlation with any
decline in the value of the index. An Index Fund's return may not match
the return of the index. Unlike a Fund, the indices do not actually hold
a portfolio of securities and therefore do not incur the expenses
incurred by a Fund.

Investors buying or selling Fund shares on the secondary market may
incur customary brokerage commissions. 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. If the Fund's authorized participants are unable to proceed with
creation/redemption orders and no other authorized participant is able
to step forward to create or redeem, Fund shares may trade at a discount
to the Fund's net asset value and possibly face delisting.

One of the principal risks of investing in a Fund is market risk. Market
risk is the risk that a particular security owned by a Fund, Fund shares
or securities in general may fall in value.

An actively managed ETF is subject to management risk because it is an
actively managed portfolio. In managing such a Fund's investment
portfolio, the portfolio managers, management teams, advisor or
sub-advisor, will apply investment techniques and risk analyses that may
not have the desired result.

A Fund that is concentrated in securities of companies in a certain
sector or industry involves additional risks, including limited
diversification. An investment in a Fund concentrated in a single
country or region may be subject to greater risks of adverse events and
may experience greater volatility than a Fund that is more broadly
diversified geographically.

Certain Funds may invest in small capitalization and mid-capitalization
companies. Such companies may experience greater price volatility than
larger, more established companies.

An investment in a Fund containing securities of non-U.S. issuers is
subject to additional risks, including currency fluctuations, political
risks, withholding, the lack of adequate financial information, and
exchange control restrictions impacting non-U.S. issuers. These risks
may be heightened for securities of companies located in, or with
significant operations in, emerging market countries. A Fund may invest
in depositary receipts which may be less liquid than the underlying
shares in their primary trading market.

Investments in sovereign bonds involve special risks because the
governmental authority that controls the repayment of the debt may be
unwilling or unable to repay the principal and/or interest when due. In
times of economic uncertainty, the prices of these securities may be
more volatile than those of corporate debt obligations or of other
government debt obligations.

Preferred Securities, high-yield securities, corporate bonds, government
bonds, municipal bonds and senior loans are subject to credit risk, call
risk, income risk, interest rate risk, inflation risk and prepayment
risk. Credit risk is the risk that an issuer of a security will be
unable or unwilling to make dividend, interest and/or principal payments
when due and that the value of a security may decline as a result.
Credit risk is heightened for floating-rate loans and high-yield
securities. Call risk is the risk that if an issuer calls
higher-yielding debt instruments held by a Fund, performance could be
adversely impacted. Income risk is the risk that income from a Fund's
fixed-income investments could decline during periods of falling
interest rates. Interest rate risk is the risk that the value of the
fixed-income securities in a Fund will decline because of rising market
interest rates. Inflation risk is the risk that the value of assets or
income from investments will be less in the future as inflation
decreases the value of money. Prepayment risk is the risk that during
periods of falling interest rates, an issuer may exercise its right to
pay principal on an obligation earlier than expected. This may result in
a decline in a Fund's income.

Senior floating-rate loans are usually rated below investment grade but
may also be unrated. As a result, the risks associated with these loans
are similar to the risks of high-yield fixed income instruments.
High-yield securities, or "junk" bonds, are subject to greater market
fluctuations and risk of loss than securities with higher ratings, and
therefore, may be highly speculative. These securities are issued by
companies that may have limited operating history, narrowly focused
operations, and/or other impediments to the timely payment of periodic
interest and principal at maturity. The market for high yield securities
is smaller and less liquid than that for investment grade securities.

Income from municipal bonds held by a Fund could be declared taxable
because of, among other things, unfavorable changes in tax laws, adverse
interpretations by the Internal Revenue Service or state tax
authorities, or noncompliant conduct of a bond issuer.

Convertible securities have characteristics of both equity and debt
securities and, as a result, are exposed to certain additional risks.
The values of certain synthetic convertible securities will respond
differently to market fluctuations than a traditional convertible
security because such synthetic convertibles are composed of two or more
separate securities or instruments, each with its own market value. A
Fund is subject to the credit risk associated with the counterparty
creating the synthetic convertible instrument. Synthetic convertible
securities may also be subject to the risks associated with derivatives.

Exchange-traded notes (ETNs) are senior, unsecured, unsubordinated debt
securities whose returns are linked to the performance of a particular
market benchmark or strategy minus applicable fees. The value of an ETN
may be influenced by various factors.

Real estate investment trusts (REITs) and real estate operating
companies (REOCs) are subject to certain risks, including changes in the
real estate market, vacancy rates and competition, volatile interest
rates and economic recession.

Master limited partnerships (MLPs) are subject to certain risks,
including price and supply fluctuations caused by international
politics, energy conservation, taxes, price controls, and other
regulatory policies of various governments. In addition, there is the
risk that a MLP could be taxed as a corporation, resulting in decreased
returns from such MLP.

The use of futures, options, and other derivatives can lead to losses
because of adverse movements in the price or value of the underlying
asset, index or rate, which may be magnified by certain features of the
derivatives. These risks are heightened when a Fund's portfolio managers
use derivatives to enhance a Fund's return or as a substitute for a
position or security, rather than solely to hedge (or offset) the risk
of a position or security held by a Fund.

A Fund may effect a portion of creations and redemptions for cash,
rather than in-kind securities. As a result, an investment in a Fund may
be less tax-efficient than an investment in an exchange-traded fund that
effects its creations and redemptions for in-kind securities.

A Fund's investment in repurchase agreements may be subject to market
and credit risk with respect to the collateral securing the repurchase
agreements.

Alternative investments may employ complex strategies, have unique
investment and risk characteristics and may not be suitable for all
investors.

Certain Funds may invest in other investment companies, including
closed-end funds (CEFs), ETFs and affiliated ETFs, which involves
additional expenses that would not be present in a direct investment in
the underlying funds. In addition, a Fund's investment performance and
risks may be related to the investment and performance of the underlying
funds.

A Fund may invest in U.S. government obligations. U.S. Treasury
obligations are backed by the "full faith and credit" of the U.S.
government. Securities issued or guaranteed by federal agencies and U.S.
government sponsored instrumentalities may or may not be backed by the
full faith and credit of the U.S. government.

Income from the First Trust Managed Municipal ETF (FMB), the First Trust
California Municipal High Income ETF (FCAL), the First Trust Municipal
High Income ETF (FMHI), the First Trust Short Duration Managed Municipal
ETF (FSMB), and the First Trust Ultra Short Duration Municipal ETF
(FUMB) may be subject to the federal alternative minimum income tax.
FMB, FCAL, FMHI, FSMB, and FUMB may invest in zero coupon bonds which
may be highly volatile as interest rates rise and fall. FCAL invests
principally in municipal debt securities from issuers located in
California. Such concentration exposes the Fund to political, fiscal,
and economic conditions affecting California municipal issuers and may
affect the value of the Fund’s investments.

Short selling creates special risks which could result in increased
volatility of returns. In times of unusual or adverse market, economic,
regulatory or political conditions, a Fund may not be able, fully or
partially, to implement its short selling strategy.

Certain Funds may invest in distressed securities and many distressed
securities are illiquid or trade in low volumes and thus may be more
difficult to value. Illiquid securities involve the risk that the
securities will not be able to be sold at the time desired by the Fund
or at prices approximately the value at which the Fund is carrying the
securities on its books.

Certain Funds are classified as "non-diversified" and may invest a
relatively high percentage of its assets in a limited number of issuers.
As a result, the Fund may be more susceptible to a single adverse
economic or regulatory occurrence affecting one or more of these
issuers, experience increased volatility and be highly concentrated in
certain issuers.

Nasdaq^® and NASDAQ U.S. Multi-Asset Diversified Income Index^SM
are registered trademarks and service marks of Nasdaq, Inc. (which with
its affiliates is referred to as the "Corporations") and are licensed
for use by FTA. The Funds have not been passed on by the Corporations as
to its 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.

The information presented is not intended to constitute an investment
recommendation for, or advice to, any specific person. By providing this
information, First Trust is not undertaking to give advice in any
fiduciary capacity within the meaning of ERISA, the Internal Revenue
Code or any other regulatory framework. Financial advisors are
responsible for evaluating investment risks independently and for
exercising independent judgment in determining whether investments are
appropriate for their clients.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190422005523/en/