# EDGAR Filing Document

**Accession Number:** 0001364608
**File Stem:** 0001445546-25-003972
**Filing Date:** 2025-6
**Character Count:** 601062
**Document Hash:** f7eedbfa07b8a54bd7fbd440f6a65c0f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001445546-25-003972.hdr.sgml**: 20250609

**ACCESSION NUMBER**: 0001445546-25-003972

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 37

**CONFORMED PERIOD OF REPORT**: 20250331

**FILED AS OF DATE**: 20250609

**DATE AS OF CHANGE**: 20250609

**EFFECTIVENESS DATE**: 20250609

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST EXCHANGE-TRADED FUND II
- **CENTRAL INDEX KEY:** 0001364608

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21944
- **FILM NUMBER:** 251033481

**BUSINESS ADDRESS:**
- **STREET 1:** 12O EAST LIBERTY DRIVE, SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 630-765-8000

**MAIL ADDRESS:**
- **STREET 1:** 12O EAST LIBERTY DRIVE, SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

## Series and Classes Contracts Data

### First Trust STOXX European Select Dividend Index Fund (Series ID: S000018784)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000051966 | First Trust STOXX European Select Dividend Index Fund | FDD             |

### First Trust Alerian Disruptive Technology Real Estate ETF (Series ID: S000018785)

| Class ID   | Class Name                                                | Ticker Symbol   |
|:---|:---|:---|
| C000051967 | First Trust Alerian Disruptive Technology Real Estate ETF | DTRE            |

### First Trust Dow Jones Global Select Dividend Index Fund (Series ID: S000019507)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000054156 | First Trust Dow Jones Global Select Dividend Index Fund | FGD             |

### First Trust Global Wind Energy ETF (Series ID: S000022933)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000066484 | First Trust Global Wind Energy ETF | FAN             |

### First Trust Alerian U.S. NextGen Infrastructure ETF (Series ID: S000024215)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000071160 | First Trust Alerian U.S. NextGen Infrastructure ETF | RBLD            |

### First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (Series ID: S000026919)

| Class ID   | Class Name                                                         | Ticker Symbol   |
|:---|:---|:---|
| C000081044 | First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund | GRID            |

### First Trust Indxx Global Natural Resources Income ETF (Series ID: S000028545)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000087410 | First Trust Indxx Global Natural Resources Income ETF | FTRI            |

### First Trust Indxx Global Agriculture ETF (Series ID: S000028546)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000087411 | First Trust Indxx Global Agriculture ETF | FTAG            |

### First Trust Indxx NextG ETF (Series ID: S000030172)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000092838 | First Trust Indxx NextG ETF | NXTG            |

### First Trust S-Network Future Vehicles & Technology ETF (Series ID: S000032974)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000101722 | First Trust S-Network Future Vehicles & Technology ETF | CARZ            |

### First Trust Cloud Computing ETF (Series ID: S000033237)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000102221 | First Trust Cloud Computing ETF | SKYY            |

### First Trust International Equity Opportunities ETF (Series ID: S000046902)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000146603 | First Trust International Equity Opportunities ETF | FPXI            |

### First Trust NASDAQ Cybersecurity ETF (Series ID: S000050385)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000159087 | First Trust NASDAQ Cybersecurity ETF | CIBR            |

### First Trust IPOX Europe Equity Opportunities ETF (Series ID: S000063124)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000204700 | First Trust IPOX Europe Equity Opportunities ETF | FPXE            |

### First Trust Dow Jones International Internet ETF (Series ID: S000063448)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000205597 | First Trust Dow Jones International Internet ETF | FDNI            |

### First Trust Indxx Metaverse ETF (Series ID: S000075360)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000234334 | First Trust Indxx Metaverse ETF | ARVR            |

### First Trust Nasdaq Lux Digital Health Solutions ETF (Series ID: S000075528)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000234707 | First Trust Nasdaq Lux Digital Health Solutions ETF | EKG             |

### First Trust Bloomberg Emerging Market Democracies ETF (Series ID: S000079490)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000240529 | First Trust Bloomberg Emerging Market Democracies ETF | EMDM            |

### First Trust Emerging Markets Human Flourishing ETF (Series ID: S000081848)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000245005 | First Trust Emerging Markets Human Flourishing ETF | FTHF            |

### First Trust Bloomberg Artificial Intelligence ETF (Series ID: S000087664)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000253539 | First Trust Bloomberg Artificial Intelligence ETF | FAI             |

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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#### FORM N-CSR

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#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number

811-21944

First Trust Exchange-Traded Fund II

(Exact name of registrant as specified in charter)

------

120 East Liberty Drive, Suite 400

Wheaton, IL 60187

(Address of principal executive offices) (Zip code)

W. Scott Jardine, Esq.

First Trust Portfolios L.P.

120 East Liberty Drive, Suite 400

Wheaton, IL 60187

(Name and address of agent for service)

Registrant's telephone number, including area code:

&nbsp;&nbsp;&nbsp;&nbsp;(630) 765-8000

Date of fiscal year end:

September 30

Date of reporting period:

March 31, 2025

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

The information presented in this Form N-CSR relates solely to the fund(s) for which a report is included in Item 1 below, each a series of the Registrant.

 **Item 1. Reports to Shareholders.**

(a) Following is a copy of the semi-annual reports transmitted to shareholders pursuant to Rule 30e-1 under the Act.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust STOXX<sup>®</sup> European Select Dividend Index Fund

#### FDD \| NYSE Arca, Inc.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust STOXX<sup>®</sup> European Select Dividend Index Fund (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FDD. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust STOXX<sup>®</sup> European Select Dividend Index Fund | $310.59%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$226089776 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;31 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;23% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| Aker BP ASA | 6.0% |
| Legal & General Group PLC | 5.3% |
| Taylor Wimpey PLC | 5.1% |
| Rio Tinto PLC | 4.1% |
| ABN AMRO Bank N.V. | 4.0% |
| AP Moller - Maersk A/S, Class A | 4.0% |
| NN Group N.V. | 3.9% |
| HSBC Holdings PLC | 3.6% |
| Rubis S.C.A. | 3.6% |
| Volkswagen AG | 3.5% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9832868.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FDD 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 info@ftportfolios.com.

#### OTHER INFORMATION
The STOXX<sup>®</sup> Europe Select Dividend 30 Index ("STOXX Index") is the intellectual property (including registered trademarks) of STOXX Ltd., Zug, Switzerland ("STOXX"), Deutsche Börse Group or their licensors, which is used under license. The Fund is neither sponsored nor promoted, distributed or in any other manner supported by STOXX Deutsche Börse Group or their licensors, research partners or data providers and STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not give any warranty, and exclude any liability (whether in negligence or otherwise) with respect thereto generally or specifically in relation to any errors, omissions or interruptions in the STOXX Index or its data.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Alerian Disruptive Technology Real Estate ETF

#### DTRE \| NYSE Arca, Inc.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Alerian Disruptive Technology Real Estate ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/DTRE. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Alerian Disruptive Technology Real Estate ETF | $290.60%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$15468003 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;31 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;18% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| American Tower Corp. | 7.7% |
| Crown Castle, Inc. | 7.5% |
| SBA Communications Corp. | 7.0% |
| Prologis, Inc. | 6.7% |
| Equinix, Inc. | 5.4% |
| Digital Realty Trust, Inc. | 5.0% |
| EastGroup Properties, Inc. | 4.3% |
| First Industrial Realty Trust, Inc. | 4.2% |
| STAG Industrial, Inc. | 4.2% |
| Segro PLC | 4.2% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9832910.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/DTRE 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 info@ftportfolios.com.

#### OTHER INFORMATION
Alerian and Alerian Disruptive Technology Real Estate Index (the "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.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Dow Jones Global Select Dividend Index Fund

#### FGD \| NYSE ARCA, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Dow Jones Global Select Dividend Index Fund (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FGD. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Dow Jones Global Select Dividend Index Fund | $280.56%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$592355690 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;100 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;37% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| Enagas S.A. | 1.9% |
| Kohl's Corp. | 1.8% |
| Phoenix Group Holdings PLC | 1.7% |
| Spark New Zealand Ltd. | 1.7% |
| BCE, Inc. | 1.7% |
| Labrador Iron Ore Royalty Corp. | 1.4% |
| Peyto Exploration & Development Corp. | 1.4% |
| AP Moller - Maersk A/S, Class A | 1.3% |
| Henderson Land Development Co., Ltd. | 1.3% |
| Western Union (The) Co. | 1.3% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9832952.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FGD 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 info@ftportfolios.com.

#### OTHER INFORMATION
Dow Jones Global Select Dividend 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<sup>®</sup> is a registered trademark of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones<sup>®</sup> 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.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Global Wind Energy ETF

#### FAN \| NYSE ARCA, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Global Wind Energy ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FAN. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Global Wind Energy ETF | $270.60%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$130402542 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;49 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;14% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| Orsted A/S | 7.5% |
| Vestas Wind Systems A/S | 7.4% |
| Northland Power, Inc. | 7.3% |
| EDP Renovaveis S.A. | 5.6% |
| China Longyuan Power Group Corp., Ltd., Class H | 4.6% |
| Nordex SE | 4.3% |
| Boralex, Inc., Class A | 3.7% |
| RBC Dominion Securities, Inc. | 3.2% |
| Citigroup, Inc. | 3.0% |
| Century Iron & Steel Industrial Co., Ltd. | 2.5% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9832994.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FAN 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 info@ftportfolios.com.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Alerian U.S. NextGen Infrastructure ETF

#### RBLD \| NYSE ARCA, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Alerian U.S. NextGen Infrastructure ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/RBLD. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Alerian U.S. NextGen Infrastructure ETF | $320.65%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$13145672 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;102 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;12% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| Consolidated Edison, Inc. | 1.3% |
| Okta, Inc. | 1.3% |
| American Tower Corp. | 1.2% |
| Exelon Corp. | 1.2% |
| American Water Works Co., Inc. | 1.2% |
| VeriSign, Inc. | 1.2% |
| Crown Castle, Inc. | 1.2% |
| American Electric Power Co., Inc. | 1.2% |
| CenterPoint Energy, Inc. | 1.2% |
| WEC Energy Group, Inc. | 1.2% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9833036.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/RBLD 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 info@ftportfolios.com.

#### OTHER INFORMATION
Alerian and Alerian U.S. NextGen Infrastructure Index (the "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.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid Infrastructure Index Fund

#### GRID \| NASDAQ, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid Infrastructure Index Fund (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/GRID. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid Infrastructure Index Fund | $260.56%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2009750683 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;108 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;9% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| National Grid PLC | 8.8% |
| ABB Ltd. | 7.9% |
| Schneider Electric SE | 7.8% |
| Johnson Controls International PLC | 7.7% |
| Eaton Corp. PLC | 7.6% |
| Quanta Services, Inc. | 4.0% |
| Hubbell, Inc. | 3.6% |
| Prysmian S.p.A. | 3.5% |
| Aptiv PLC | 2.8% |
| Terna-Rete Elettrica Nazionale | 2.7% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9833078.jpg)

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/GRID 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 info@ftportfolios.com.

#### OTHER INFORMATION
Nasdaq<sup>®</sup>, Clean Edge<sup>®</sup>, and Nasdaq Clean Edge Smart Grid Infrastructure<sup>TM</sup> Index are registered trademarks and service marks of Nasdaq, Inc. and Clean Edge, Inc., respectively (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.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Indxx Global Natural Resources Income ETF

#### FTRI \| Nasdaq, Inc.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Indxx Global Natural Resources Income ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FTRI. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Indxx Global Natural Resources Income ETF | $350.70%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$91386563 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;52 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;4% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| Agnico Eagle Mines Ltd. | 9.2% |
| Canadian Natural Resources Ltd. | 9.0% |
| Freeport-McMoRan, Inc. | 8.8% |
| American Water Works Co., Inc. | 5.9% |
| RBC Dominion Securities, Inc. | 4.5% |
| JPMorgan Chase & Co. | 4.4% |
| Ecopetrol S.A., ADR | 4.2% |
| Weyerhaeuser Co. | 3.9% |
| Nutrien Ltd. | 3.8% |
| Kinross Gold Corp. | 3.3% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9833120.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FTRI 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 info@ftportfolios.com.

#### OTHER INFORMATION
Indxx and Indxx Global Natural Resources Income 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.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Indxx Global Agriculture ETF

#### FTAG \| Nasdaq, Inc.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Indxx Global Agriculture ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FTAG. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Indxx Global Agriculture ETF | $340.70%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$5827494 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;47 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;8% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| Deere & Co. | 9.9% |
| Corteva, Inc. | 9.8% |
| BASF SE | 8.9% |
| Mahindra & Mahindra Ltd. | 8.7% |
| Nutrien Ltd. | 4.4% |
| Industries Qatar QSC | 4.4% |
| Bayer AG | 4.3% |
| Wilmar International Ltd. | 3.8% |
| CNH Industrial N.V. | 3.7% |
| Kubota Corp. | 3.4% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9833162.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FTAG 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 info@ftportfolios.com.

#### OTHER INFORMATION
Indxx and Indxx Global Agriculture 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.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Indxx NextG ETF

#### NXTG \| NASDAQ, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Indxx NextG ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/NXTG. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Indxx NextG ETF | $340.70%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$340030429 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;105 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;8% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

**Top Ten Holdings**

---

| | |
|:---|:---|
| Xiaomi Corp., Class B | 2.0% |
| ZTE Corp., Class H | 1.6% |
| NEC Corp. | 1.6% |
| Nokia Oyj, ADR | 1.5% |
| BT Group PLC | 1.4% |
| Elisa Oyj | 1.4% |
| Sony Group Corp. | 1.4% |
| Lenovo Group Ltd. | 1.4% |
| American Tower Corp. | 1.4% |
| Kyocera Corp. | 1.4% |

---

**Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9833204.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/NXTG 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 info@ftportfolios.com.

#### OTHER INFORMATION
Indxx and Indxx 5G & NextG Thematic Index<sup>SM</sup> ("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.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust S-Network Future Vehicles & Technology ETF

#### CARZ \| NASDAQ, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust S-Network Future Vehicles & Technology ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/CARZ. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust S-Network Future Vehicles & Technology ETF | $340.70%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$29614539 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;102 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;27% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

**Top Ten Holdings**

---

| | |
|:---|:---|
| Samsung Electronics Co., Ltd. | 5.0% |
| QUALCOMM, Inc. | 4.6% |
| Texas Instruments, Inc. | 4.5% |
| Toyota Motor Corp. | 4.5% |
| Apple, Inc. | 4.4% |
| Microsoft Corp. | 4.2% |
| Advanced Micro Devices, Inc. | 4.0% |
| Taiwan Semiconductor Manufacturing Co., Ltd., ADR | 3.8% |
| Alphabet, Inc., Class A | 3.8% |
| NVIDIA Corp. | 3.7% |

---

**Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9833246.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/CARZ 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 info@ftportfolios.com.

#### OTHER INFORMATION
S-Network and S-Network Electric & Future Vehicle Ecosystem 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.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Cloud Computing ETF

#### SKYY \| NASDAQ, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Cloud Computing ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/SKYY. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Cloud Computing ETF | $300.60%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$3087588579 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;64 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;14% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| International Business Machines Corp. | 4.5% |
| Microsoft Corp. | 4.3% |
| Alphabet, Inc., Class A | 4.2% |
| Nutanix, Inc., Class A | 4.1% |
| Amazon.com, Inc. | 4.1% |
| Pure Storage, Inc., Class A | 3.9% |
| Oracle Corp. | 3.8% |
| Arista Networks, Inc. | 3.8% |
| Akamai Technologies, Inc. | 3.0% |
| Cisco Systems, Inc. | 2.9% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9833288.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/SKYY 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 info@ftportfolios.com.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust International Equity Opportunities ETF

#### FPXI \| NASDAQ, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust International Equity Opportunities ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FPXI. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust International Equity Opportunities ETF | $340.70%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$129928149 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;52 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;59% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 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 | 7.3% |
| Spotify Technology S.A. | 6.5% |
| ARM Holdings PLC, ADR | 5.2% |
| Caixa Seguridade Participacoes S.A. | 5.2% |
| Gen Digital, Inc. | 4.2% |
| Trip.com Group Ltd., ADR | 4.1% |
| Krafton, Inc. | 3.7% |
| Agnico Eagle Mines Ltd. | 3.6% |
| Pop Mart International Group Ltd. | 3.6% |
| Constellation Software, Inc. | 3.2% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9833414.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FPXI 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 info@ftportfolios.com.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Nasdaq Cybersecurity ETF

#### CIBR \| NASDAQ, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Nasdaq Cybersecurity ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/CIBR. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Nasdaq Cybersecurity ETF | $300.58%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$7875203238 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;35 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;10% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| Cisco Systems, Inc. | 8.0% |
| Infosys Ltd., ADR | 7.5% |
| CrowdStrike Holdings, Inc., Class A | 7.5% |
| Palo Alto Networks, Inc. | 7.4% |
| Broadcom, Inc. | 7.0% |
| Thales S.A. | 5.5% |
| Okta, Inc. | 4.5% |
| Leidos Holdings, Inc. | 4.3% |
| Check Point Software Technologies Ltd. | 4.3% |
| Zscaler, Inc. | 4.2% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9833456.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/CIBR 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 info@ftportfolios.com.

#### OTHER INFORMATION
Nasdaq<sup>®</sup> and Nasdaq CTA Cybersecurity<sup>TM</sup> 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.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF

#### FPXE \| NASDAQ, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FPXE. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF | $340.70%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$3863219 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;104 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;48% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| Gen Digital, Inc. | 4.9% |
| Nordnet AB publ | 3.5% |
| Technip Energies N.V. | 3.5% |
| Spotify Technology S.A. | 3.5% |
| ARM Holdings PLC, ADR | 3.4% |
| Lottomatica Group S.p.A. | 3.1% |
| Siemens Energy AG | 2.9% |
| Haleon PLC | 2.8% |
| Cie de Saint-Gobain S.A. | 2.5% |
| IONOS Group SE | 2.3% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9832784.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FPXE 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 info@ftportfolios.com.

#### OTHER INFORMATION
IPOX<sup>®</sup> and IPOX<sup>®</sup>-100 Europe Index are registered international trademarks and service marks of IPOX<sup>®</sup> Schuster LLC ("IPOX") and have been licensed for use by First Trust Advisors L.P. The Fund is not sponsored, endorsed, sold or promoted by IPOX, and IPOX makes no representation regarding the advisability of trading in such Fund. IPOX<sup>®</sup> is an international trademark of IPOX Schuster LLC. Index of Initial Public Offerings (IPOX) and IPOX Derivatives Patent No. US 7,698,197.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Dow Jones International Internet ETF

#### FDNI \| NASDAQ, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Dow Jones International Internet ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FDNI. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Dow Jones International Internet ETF | $330.65%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$38617285 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;40 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;20% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 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. | 10.2% |
| Alibaba Group Holding Ltd. | 10.1% |
| Shopify, Inc., Class A | 9.0% |
| Meituan, Class B | 8.7% |
| Spotify Technology S.A. | 4.9% |
| JD.com, Inc., Class A | 4.8% |
| Prosus N.V. | 4.8% |
| PDD Holdings, Inc., ADR | 4.7% |
| Naspers Ltd., Class N | 4.6% |
| Adyen N.V. | 4.3% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9832826.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FDNI 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 info@ftportfolios.com.

#### OTHER INFORMATION
Dow Jones International Internet 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<sup>®</sup> is a registered trademark of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones<sup>®</sup> 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.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Bloomberg Emerging Market Democracies ETF

#### EMDM \| NYSE ARCA, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Bloomberg Emerging Market Democracies ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/EMDM. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Bloomberg Emerging Market Democracies ETF | $370.75%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$7589704 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;101 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;10% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co., Ltd. | 10.1% |
| Samsung Electronics Co., Ltd. | 6.5% |
| Naspers Ltd., Class N | 6.5% |
| Grupo Mexico S.A.B. de C.V., Series B | 4.1% |
| Powszechna Kasa Oszczednosci Bank Polski S.A. | 3.8% |
| Petroleo Brasileiro S.A. | 3.6% |
| FirstRand Ltd. | 3.2% |
| OTP Bank Nyrt | 3.2% |
| Standard Bank Group Ltd. | 2.9% |
| Fomento Economico Mexicano S.A.B. de C.V., Series UBD | 2.6% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9833498.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/EMDM 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 info@ftportfolios.com.

#### OTHER INFORMATION
"Bloomberg<sup>®</sup>" and Bloomberg Emerging Market Democracies Index licensed herein (the "Indices") are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited, the administrator of the Indices (collectively, "Bloomberg") and have been licensed for use for certain purposes by First Trust Advisors L.P. (the "Licensee"). Bloomberg is not affiliated with the Licensee, 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.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Emerging Markets Human Flourishing ETF

#### FTHF \| NYSE ARCA, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Emerging Markets Human Flourishing ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FTHF. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Emerging Markets Human Flourishing ETF | $370.75%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$39304193 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;101 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;20% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| Taiwan Semiconductor Manufacturing Co., Ltd. | 7.8% |
| Samsung Electronics Co., Ltd. | 7.1% |
| Gold Fields Ltd. | 4.3% |
| Itau Unibanco Holding S.A. | 3.6% |
| Wal-Mart de Mexico S.A.B. de C.V. | 3.3% |
| WEG S.A. | 2.8% |
| ORLEN S.A. | 2.4% |
| Grupo Financiero Banorte S.A.B. de C.V., Class O | 2.3% |
| FirstRand Ltd. | 2.1% |
| Powszechna Kasa Oszczednosci Bank Polski S.A. | 1.9% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9833540.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FTHF 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 info@ftportfolios.com.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Nasdaq Lux Digital Health Solutions ETF

#### EKG \| NASDAQ, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Nasdaq Lux Digital Health Solutions ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/EKG. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Nasdaq Lux Digital Health Solutions ETF | $310.65%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2353417 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;38 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;7% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| Veeva Systems, Inc., Class A | 9.1% |
| ResMed, Inc. | 8.5% |
| IQVIA Holdings, Inc. | 8.3% |
| Intuitive Surgical, Inc. | 7.6% |
| Dexcom, Inc. | 6.8% |
| QIAGEN N.V. | 4.4% |
| Hologic, Inc. | 4.3% |
| Insulet Corp. | 4.3% |
| Globus Medical, Inc., Class A | 4.0% |
| Natera, Inc. | 4.0% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9833372.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/EKG 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 info@ftportfolios.com.

#### OTHER INFORMATION
Nasdaq<sup>®</sup> and Nasdaq Lux Health Tech<sup>TM</sup> 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.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Indxx Metaverse ETF

#### ARVR \| NASDAQ, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Indxx Metaverse ETF (the "Fund") for the period of October 1, 2024 to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/ARVR. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Indxx Metaverse ETF | $350.70%<sup>(1)</sup> |

---

<sup>(1)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$3798243 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;42 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;28% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

 **Top Ten Holdings**

---

| | |
|:---|:---|
| Xiaomi Corp., Class B | 4.5% |
| Tencent Holdings Ltd. | 4.0% |
| Sony Group Corp. | 3.8% |
| Nintendo Co., Ltd. | 3.7% |
| Intel Corp. | 3.5% |
| Take-Two Interactive Software, Inc. | 3.5% |
| NetEase, Inc. | 3.4% |
| Netflix, Inc. | 3.3% |
| Electronic Arts, Inc. | 3.1% |
| Nexon Co., Ltd. | 3.0% |

---

 **Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_9833330.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/ARVR 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 info@ftportfolios.com.

#### OTHER INFORMATION
Indxx and Indxx Metaverse 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.

![TSR - First Trust Fund Logo](images_27700.jpg)

### First Trust Bloomberg Artificial Intelligence ETF

#### FAI \| NYSE ARCA, INC.

#### SEMI-ANNUAL SHAREHOLDER REPORT \| March 31, 2025
This semi-annual shareholder report contains important information about the First Trust Bloomberg Artificial Intelligence ETF (the "Fund") for the period of November 20, 2024 (commencement of investment operations) to March 31, 2025. You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FAI. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| |
|:---|
| **Fund** |
| First Trust Bloomberg Artificial Intelligence ETF$22<sup>(1)</sup>0.65%<sup>(2)</sup> |

---

<sup>(1)</sup> The Fund commenced investment operations on November 20, 2024. Had the Fund been in operation for a complete six months, the cost of a $10,000 investment would have been higher.

<sup>(2)</sup> Annualized.

KEY FUND STATISTICS (As of March 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$8078141 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;50 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;9% |

---

#### WHAT DID THE FUND INVEST IN? (As of March 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.

**Top Ten Holdings**

---

| | |
|:---|:---|
| Meta Platforms, Inc., Class A | 8.9% |
| Microsoft Corp. | 8.3% |
| Amazon.com, Inc. | 7.9% |
| Alphabet, Inc., Class A | 7.5% |
| NVIDIA Corp. | 7.0% |
| Palantir Technologies, Inc., Class A | 4.9% |
| ASML Holding N.V. | 4.4% |
| Adobe, Inc. | 4.2% |
| Taiwan Semiconductor Manufacturing Co., Ltd. | 4.0% |
| Oracle Corp. | 3.9% |

---

**Sector Allocation**

![Graphical Representation - Allocation 2 Chart](chartimages_10021952.jpg)

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FAI 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 info@ftportfolios.com.

#### OTHER INFORMATION
"Bloomberg<sup>®</sup>" and Bloomberg Artificial Intelligence Index licensed herein (the "Indices") are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited, the administrator of the Indices (collectively, "Bloomberg") and have been licensed for use for certain purposes by First Trust Advisors L.P. (the "Licensee"). Bloomberg is not affiliated with the Licensee, 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.

------

(b)&nbsp;&nbsp;&nbsp;&nbsp; Not applicable.

**Item 2. Code of Ethics.**

The First Trust Exchange-Traded Fund II ("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.**

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

&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable to the Registrant.

**Item 6. Investments.**

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Semi-Annual Financial Statements and Other Information <br> For the Six Months Ended March 31, 2025

![](imgd2b15fdb1.gif)

<u>First Trust Exchange-Traded Fund II</u>

Book 1

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| First Trust STOXX<sup>®</sup> European Select Dividend Index Fund (FDD) |
| First Trust Alerian Disruptive Technology Real Estate ETF (DTRE) |
| First Trust Dow Jones Global Select Dividend Index Fund (FGD) |
| First Trust Global Wind Energy ETF (FAN) |
| First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD) |
| First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid Infrastructure <br> Index Fund (GRID)<br>|
| First Trust Indxx Global Natural Resources Income ETF (FTRI) |
| First Trust Indxx Global Agriculture ETF (FTAG) |
| First Trust Indxx NextG ETF (NXTG) |
| First Trust S-Network Future Vehicles & Technology ETF (CARZ) |
| First Trust Cloud Computing ETF (SKYY) |
| First Trust International Equity Opportunities ETF (FPXI) |
| First Trust Nasdaq Cybersecurity ETF (CIBR) |
| First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF (FPXE) |
| First Trust Dow Jones International Internet ETF (FDNI) |
| First Trust Bloomberg Emerging Market Democracies ETF <br> (EMDM)<br>|
| First Trust Emerging Markets Human Flourishing ETF (FTHF) |

---

------

**Table of Contents** 

**First Trust Exchange-Traded Fund II**

**Semi-Annual Financial Statements and Other Information**

**March 31, 2025** 

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4241_1) |  |
| [First Trust STOXX](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4241_1)<sup>®</sup>[European Select Dividend Index Fund (FDD)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4241_1) | 1 |
| [First Trust Alerian Disruptive Technology Real Estate ETF (DTRE)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4242_1) | 3 |
| [First Trust Dow Jones Global Select Dividend Index Fund (FGD)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4243_1) | 5 |
| [First Trust Global Wind Energy ETF (FAN)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4244_1) | 8 |
| [First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4245_1) | 11 |
| [First Trust NASDAQ](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4247_1)<sup>®</sup>[Clean Edge](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4247_1)<sup>®</sup>[Smart Grid Infrastructure Index Fund (GRID)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4247_1) | 14 |
| [First Trust Indxx Global Natural Resources Income ETF (FTRI)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4249_1) | 18 |
| [First Trust Indxx Global Agriculture ETF (FTAG)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4250_1) | 21 |
| [First Trust Indxx NextG ETF (NXTG)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4251_1) | 24 |
| [First Trust S-Network Future Vehicles & Technology ETF (CARZ)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4256_1) | 29 |
| [First Trust Cloud Computing ETF (SKYY)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4257_1) | 33 |
| [First Trust International Equity Opportunities ETF (FPXI)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4296_1) | 36 |
| [First Trust Nasdaq Cybersecurity ETF (CIBR)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4297_1) | 39 |
| [First Trust IPOX](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4206_1)<sup>®</sup>[Europe Equity Opportunities ETF (FPXE)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4206_1) | 41 |
| [First Trust Dow Jones International Internet ETF (FDNI)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4208_1) | 45 |
| [First Trust Bloomberg Emerging Market Democracies ETF (EMDM)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4485_1) | 47 |
| [First Trust Emerging Markets Human Flourishing ETF (FTHF)](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOI-TOC-ScheduleofInvestments-4633_1) | 50 |
| [Statements of Assets and Liabilities](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SAL1-TOC-StatementofAssetsandLiabilities-4244_2) | 54 |
| [Statements of Operations](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOP1-TOC-StatementofOperations-4244_2) | 60 |
| [Statements of Changes in Net Assets](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_SOC1-TOC-StatementofChanges-4244_2) | 66 |
| [Financial Highlights](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_FIHI-TOC-FinancialHighlights-4244_1) | 73 |
| [Notes to Financial Statements](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_NTF-TOC-NotestoFinancialStatements-4241_1) | 90 |
| [Other Information](#xx_db53823f-e91c-4c5f-b2c2-5cfaffc7dede_AI-TOC-AdditionalInformation-4244_1) | 103 |

---

**Performance and Risk Disclosure**

There is no assurance that any series of First Trust Exchange-Traded Fund II (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 STOXX**<sup>®</sup> **European Select Dividend Index Fund (FDD)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 98.2%** | **COMMON STOCKS (a) (b) — 98.2%** | **COMMON STOCKS (a) (b) — 98.2%** |
|  | **Belgium — 2.7%** |  |
| 101785 | Ageas S.A./N.V. (EUR) (c) | $6101351 |
|  | **Denmark — 6.6%** |  |
| 5163 | AP Moller - Maersk A/S, <br> Class A (DKK) (c) | 8844267 |
| 95752 | Sydbank A/S (DKK) (c) | 6006845 |
|  |  | 14851112 |
|  | **France — 12.8%** |  |
| 85588 | BNP Paribas S.A. (EUR) (c) | 7153412 |
| 388729 | Credit Agricole S.A. (EUR) (c) | 7077630 |
| 524931 | Orange S.A. (EUR) (c) | 6800054 |
| 281227 | Rubis S.C.A. (EUR) (c) | 7945283 |
|  |  | 28976379 |
|  | **Germany — 13.9%** |  |
| 12581 | Allianz SE (EUR) (c) | 4814887 |
| 93137 | Bayerische Motoren Werke AG <br> (Preference Shares) (EUR) (c) | 7026126 |
| 375211 | K+S AG (EUR) (c) | 5127152 |
| 113236 | Mercedes-Benz Group AG <br> (EUR) (c) | 6689066 |
| 75958 | Volkswagen AG (Preference <br> Shares) (EUR) (c) | 7750641 |
|  |  | 31407872 |
|  | **Italy — 6.1%** |  |
| 402838 | Poste Italiane S.p.A. <br> (EUR) (c) (d) (e) | 7186779 |
| 1284212 | Snam S.p.A. (EUR) (c) | 6665788 |
|  |  | 13852567 |
|  | **Netherlands — 14.2%** |  |
| 424007 | ABN AMRO Bank N.V. <br> (EUR) (c) (d) (e) | 8934440 |
| 127927 | ASR Nederland N.V. (EUR) (c) | 7354242 |
| 366611 | ING Groep N.V. (EUR) (c) | 7182409 |
| 155768 | NN Group N.V. (EUR) (c) | 8667857 |
|  |  | 32138948 |
|  | **Norway — 5.9%** |  |
| 565454 | Aker BP ASA (NOK) (c) | 13406381 |
|  | **Poland — 3.4%** |  |
| 430149 | ORLEN S.A. (PLN) (c) | 7576499 |
|  | **Spain — 2.6%** |  |
| 218948 | Endesa S.A. (EUR) (c) | 5803105 |
|  | **Sweden — 2.5%** |  |
| 414436 | Tele2 AB, Class B (SEK) (c) | 5583776 |
|  | **Switzerland — 3.8%** |  |
| 39500 | Holcim AG (CHF) (c) | 4250722 |
| 6249 | Zurich Insurance Group AG <br> (CHF) (c) | 4361853 |
|  |  | 8612575 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **United Kingdom — 23.7%** |  |
| 704825 | HSBC Holdings PLC (GBP) (c) | $7990275 |
| 557984 | IG Group Holdings PLC <br> (GBP) (c) | 6884532 |
| 3757412 | Legal & General Group PLC <br> (GBP) (c) | 11849579 |
| 1109064 | NatWest Group PLC (GBP) (c) | 6548377 |
| 150786 | Rio Tinto PLC (GBP) (c) | 9048742 |
| 8052376 | Taylor Wimpey PLC (GBP) (c) | 11313581 |
|  |  | 53635086 |
|  | **Total Common Stocks** | 221945651 |
|  | (Cost $199,012,891) |  |
| **MONEY MARKET FUNDS — 0.3%** | **MONEY MARKET FUNDS — 0.3%** | **MONEY MARKET FUNDS — 0.3%** |
| 675887 | Morgan Stanley Institutional <br> Liquidity Funds - Treasury <br> Portfolio - Institutional Class - <br> 4.20% (f) | 675887 |
|  | (Cost $675,887) |  |
|  | **Total Investments — 98.5%** | 222621538 |
|  | (Cost $199,688,778) |  |
|  | **Net Other Assets and** <br> **Liabilities — 1.5%** | 3468238 |
|  | **Net Assets — 100.0%** | $226089776 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 March 31, 2025, securities noted as
 such are valued at $221,945,651 or 98.2% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

See Notes to Financial Statements

------

**First Trust STOXX**<sup>®</sup> **European Select Dividend Index Fund (FDD)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(e) This
 security may be resold to qualified foreign investors and foreign
 institutional buyers under Regulation S of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| CHF | – Swiss Franc |
| DKK | – Danish Krone |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| NOK | – Norwegian Krone |
| PLN | – Polish Zloty |
| SEK | – Swedish Krona |
| USD | – United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| EUR | 53.1% |
| GBP | 24.1 |
| DKK | 6.7 |
| NOK | 6.0 |
| CHF | 3.9 |
| PLN | 3.4 |
| SEK | 2.5 |
| USD | 0.3 |
| Total | 100.0% |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks\* | $221945651 | $— | $221945651 | $— |
| Money Market <br> Funds<br>| 675887 | 675887 |  |  |
| Total Investments | $222621538 | $675887 | $221945651 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for country breakout.

See Notes to Financial Statements

------

**First Trust Alerian Disruptive Technology Real Estate ETF (DTRE)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 98.8%** | **COMMON STOCKS (a) (b) — 98.8%** | **COMMON STOCKS (a) (b) — 98.8%** |
|  | **Belgium — 1.6%** |  |
| 10284 | Warehouses De Pauw C.V.A. <br> (EUR) (c) | $243795 |
|  | **Canada — 0.8%** |  |
| 16390 | Dream Industrial Real Estate <br> Investment Trust (CAD) | 128701 |
|  | **Cayman Islands — 1.8%** |  |
| 178389 | ESR Group Ltd. <br> (HKD) (c) (d) (e) | 280268 |
|  | **Japan — 8.6%** |  |
| 137 | Daiwa House REIT Investment <br> Corp. (JPY) (c) | 216450 |
| 341 | GLP J-REIT (JPY) (c) | 274325 |
| 208 | Industrial & Infrastructure Fund <br> Investment Corp. (JPY) (c) | 161224 |
| 239 | Mitsui Fudosan Logistics Park, <br> Inc. (JPY) (c) | 164177 |
| 329 | Nippon Prologis REIT, Inc. <br> (JPY) (c) | 507736 |
|  |  | 1323912 |
|  | **Singapore — 8.9%** |  |
| 515264 | Frasers Logistics & Commercial <br> Trust (SGD) (c) (e) | 349863 |
| 217000 | Keppel DC REIT (SGD) (c) | 345684 |
| 133400 | Mapletree Industrial Trust <br> (SGD) (c) | 208056 |
| 480477 | Mapletree Logistics Trust <br> (SGD) (c) | 466956 |
|  |  | 1370559 |
|  | **United Kingdom — 7.6%** |  |
| 140098 | LondonMetric Property PLC <br> (GBP) (c) | 332674 |
| 71809 | Segro PLC (GBP) (c) | 642251 |
| 110271 | Tritax Big Box REIT PLC <br> (GBP) (c) | 200103 |
|  |  | 1175028 |
|  | **United States — 69.5%** |  |
| 5416 | American Tower Corp. | 1178521 |
| 28035 | Americold Realty Trust, Inc. | 601631 |
| 11090 | Crown Castle, Inc. | 1155911 |
| 5365 | Digital Realty Trust, Inc. | 768751 |
| 3740 | EastGroup Properties, Inc. | 658801 |
| 1021 | Equinix, Inc. | 832472 |
| 12024 | First Industrial Realty Trust, Inc. | 648815 |
| 56403 | LXP Industrial Trust | 487886 |
| 9468 | Plymouth Industrial REIT, Inc. | 154328 |
| 9199 | Prologis, Inc. | 1028356 |
| 15516 | Rexford Industrial Realty, Inc. | 607451 |
| 4860 | SBA Communications Corp. | 1069249 |
| 17822 | STAG Industrial, Inc. | 643731 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **United States (Continued)** |  |
| 10144 | Terreno Realty Corp. | $641304 |
| 55790 | Uniti Group, Inc. | 281182 |
|  |  | 10758389 |
|  | **Total Common Stocks** | 15280652 |
|  | (Cost $15,272,174) |  |
| **MONEY MARKET FUNDS — 0.6%** | **MONEY MARKET FUNDS — 0.6%** | **MONEY MARKET FUNDS — 0.6%** |
| 102107 | Morgan Stanley Institutional <br> Liquidity Funds - Treasury <br> Portfolio - Institutional Class - <br> 4.20% (f) | 102107 |
|  | (Cost $102,107) |  |
|  | **Total Investments — 99.4%** | 15382759 |
|  | (Cost $15,374,281) |  |
|  | **Net Other Assets and** <br> **Liabilities — 0.6%** | 85244 |
|  | **Net Assets — 100.0%** | $15468003 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 March 31, 2025, securities noted as
 such are valued at $4,393,562 or 28.4% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(e) This
 security may be resold to qualified foreign investors and foreign
 institutional buyers under Regulation S of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust Alerian Disruptive Technology Real Estate ETF (DTRE)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| CAD | – Canadian Dollar |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| HKD | – Hong Kong Dollar |
| JPY | – Japanese Yen |
| SGD | – Singapore Dollar |
| USD | – United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| USD | 70.7% |
| SGD | 8.9 |
| JPY | 8.6 |
| GBP | 7.6 |
| HKD | 1.8 |
| EUR | 1.6 |
| CAD | 0.8 |
| Total | 100.0% |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks: |  |  |  |  |
| Canada | $128701 | $128701 | $— | $— |
| United States | 10758389 | 10758389 |  |  |
| Other Country <br> Categories\*<br>| 4393562 |  | 4393562 |  |
| Money Market Funds | 102107 | 102107 |  |  |
| Total Investments | $15382759 | $10989197 | $4393562 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for country breakout.

See Notes to Financial Statements

------

**First Trust Dow Jones Global Select Dividend Index Fund (FGD)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 98.8%** | **COMMON STOCKS (a) (b) — 98.8%** | **COMMON STOCKS (a) (b) — 98.8%** |
|  | **Australia — 3.1%** |  |
| 1069363 | Bank of Queensland Ltd. <br> (AUD) (c) | $4537968 |
| 639994 | Fortescue Ltd. (AUD) (c) | 6194536 |
| 1157373 | Harvey Norman Holdings Ltd. <br> (AUD) (c) | 3640187 |
| 486072 | Super Retail Group Ltd. <br> (AUD) (c) | 3954165 |
|  |  | 18326856 |
|  | **Austria — 1.2%** |  |
| 140584 | OMV AG (EUR) (c) | 7239592 |
|  | **Belgium — 1.0%** |  |
| 95910 | Ageas S.A./N.V. (EUR) (c) | 5749183 |
|  | **Bermuda — 0.6%** |  |
| 611790 | CK Infrastructure Holdings Ltd. <br> (HKD) (c) | 3663058 |
|  | **Canada — 11.7%** |  |
| 105098 | Bank of Nova Scotia (The) <br> (CAD) | 4983035 |
| 427184 | BCE, Inc. (CAD) | 9805002 |
| 66659 | Canadian Imperial Bank of <br> Commerce (CAD) | 3749728 |
| 187297 | Canadian Utilities Ltd., Class A <br> (CAD) | 4815669 |
| 108140 | Great-West Lifeco, Inc. (CAD) | 4236777 |
| 139083 | IGM Financial, Inc. (CAD) | 4277693 |
| 405151 | Labrador Iron Ore Royalty Corp. <br> (CAD) | 8282924 |
| 319616 | Laurentian Bank of Canada <br> (CAD) | 6056724 |
| 642066 | Peyto Exploration & <br> Development Corp. (CAD) | 8133743 |
| 115859 | Power Corp. of Canada (CAD) | 4096387 |
| 99328 | TC Energy Corp. (CAD) | 4690824 |
| 408299 | TELUS Corp. (CAD) | 5856149 |
|  |  | 68984655 |
|  | **Cayman Islands — 2.8%** |  |
| 4753200 | Chow Tai Fook Jewellery <br> Group, Ltd. (HKD) (c) | 5385428 |
| 889645 | CK Hutchison Holdings Ltd. <br> (HKD) (c) | 5014874 |
| 2885500 | Stella International Holdings <br> Ltd. (HKD) | 6422564 |
|  |  | 16822866 |
|  | **Denmark — 1.3%** |  |
| 4592 | AP Moller - Maersk A/S, <br> Class A (DKK) (c) | 7866139 |
|  | **Finland — 0.9%** |  |
| 325330 | Fortum Oyj (EUR) (c) | 5327458 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **France — 2.9%** |  |
| 437828 | Carrefour S.A. (EUR) (c) | $6261794 |
| 79317 | TotalEnergies SE (EUR) (c) | 5110646 |
| 184864 | Verallia S.A. (EUR) (c) (d) (e) | 5741123 |
|  |  | 17113563 |
|  | **Germany — 5.6%** |  |
| 68708 | BASF SE (EUR) (c) | 3444263 |
| 80694 | Bayerische Motoren Werke AG <br> (Preference Shares) (EUR) (c) | 6087443 |
| 139237 | Freenet AG (EUR) (c) | 5307607 |
| 98353 | Mercedes-Benz Group AG <br> (EUR) (c) | 5809899 |
| 146580 | Porsche Automobil Holding SE <br> (Preference Shares) (EUR) (c) | 5520010 |
| 69558 | Volkswagen AG (Preference <br> Shares) (EUR) (c) | 7097595 |
|  |  | 33266817 |
|  | **Guernsey — 1.1%** |  |
| 6167320 | Sirius Real Estate Ltd. (GBP) | 6731838 |
|  | **Hong Kong — 6.6%** |  |
| 1437993 | BOC Hong Kong Holdings Ltd. <br> (HKD) (c) | 5822322 |
| 397500 | Hang Seng Bank Ltd. (HKD) (c) | 5413474 |
| 2651348 | Henderson Land Development <br> Co., Ltd. (HKD) (c) | 7626046 |
| 11374498 | PCCW Ltd. (HKD) (c) | 7074795 |
| 6263935 | Sino Land Co., Ltd. (HKD) (c) | 6270421 |
| 2999725 | Swire Properties Ltd. (HKD) (c) | 6578802 |
|  |  | 38785860 |
|  | **Italy — 3.8%** |  |
| 1667157 | A2A S.p.A. (EUR) (c) | 4017951 |
| 423611 | Eni S.p.A. (EUR) (c) | 6551813 |
| 914524 | Italgas S.p.A. (EUR) (c) | 6557336 |
| 306777 | Poste Italiane S.p.A. <br> (EUR) (c) (d) (e) | 5473015 |
|  |  | 22600115 |
|  | **Japan — 1.6%** |  |
| 173170 | Japan Tobacco, Inc. (JPY) (c) | 4759776 |
| 143300 | Mitsui OSK Lines Ltd. (JPY) (c) | 4989307 |
|  |  | 9749083 |
|  | **Luxembourg — 1.7%** |  |
| 174981 | APERAM S.A. (EUR) (c) | 5701422 |
| 1318012 | B&M European Value Retail <br> S.A. (GBP) (c) | 4452131 |
|  |  | 10153553 |
|  | **Netherlands — 3.1%** |  |
| 102425 | ASR Nederland N.V. (EUR) (c) | 5888188 |
| 78837 | LyondellBasell Industries N.V., <br> Class A | 5550125 |
| 121488 | NN Group N.V. (EUR) (c) | 6760314 |
|  |  | 18198627 |

---

See Notes to Financial Statements

------

**First Trust Dow Jones Global Select Dividend Index Fund (FGD)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** |
|  | **New Zealand — 1.7%** |  |
| 8691728 | Spark New Zealand Ltd. (NZD) | $10116186 |
|  | **Norway — 1.1%** |  |
| 240096 | DNB Bank ASA (NOK) (c) | 6317570 |
|  | **Singapore — 0.9%** |  |
| 675000 | BOC Aviation Ltd. <br> (HKD) (c) (d) (e) | 5273488 |
|  | **South Korea — 12.6%** |  |
| 666474 | BNK Financial Group, Inc. <br> (KRW) (c) | 4674844 |
| 93072 | DB Insurance Co., Ltd. <br> (KRW) (c) | 5622262 |
| 729316 | DGB Financial Group, Inc. <br> (KRW) (c) | 4471077 |
| 230586 | GS Holdings Corp. (KRW) (c) | 5783324 |
| 125451 | Hana Financial Group, Inc. <br> (KRW) (c) | 5122208 |
| 61553 | Hyundai Motor Co. (Preference <br> Shares) (KRW) (c) | 6244385 |
| 519309 | Industrial Bank of Korea <br> (KRW) (c) | 5039009 |
| 89907 | Kia Corp. (KRW) (c) | 5686497 |
| 69167 | KIWOOM Securities Co., Ltd. <br> (KRW) (c) | 5984516 |
| 67175 | KT&G Corp. (KRW) (c) | 4620413 |
| 725244 | LG Uplus Corp. (KRW) (c) | 5075525 |
| 15797 | Samsung Fire & Marine <br> Insurance Co., Ltd. (KRW) (c) | 3855244 |
| 207081 | Samsung Securities Co., Ltd. <br> (KRW) (c) | 6411672 |
| 537423 | Woori Financial Group, Inc. <br> (KRW) (c) | 6068953 |
|  |  | 74659929 |
|  | **Spain — 9.7%** |  |
| 464607 | Bankinter S.A. (EUR) (c) | 5164207 |
| 769674 | CaixaBank S.A. (EUR) (c) | 5995575 |
| 778821 | Enagas S.A. (EUR) (c) | 11212232 |
| 207692 | Logista Integral S.A. (EUR) (c) | 6600805 |
| 1831235 | Mapfre S.A. (EUR) (c) | 5641996 |
| 180454 | Naturgy Energy Group S.A. <br> (EUR) (c) | 5021927 |
| 223829 | Redeia Corp. S.A. (EUR) (c) | 4492547 |
| 518376 | Repsol S.A. (EUR) (c) | 6882772 |
| 1400832 | Telefonica S.A. (EUR) (c) | 6602675 |
|  |  | 57614736 |
|  | **Sweden — 0.9%** |  |
| 1499100 | Telia Co., AB (SEK) (c) | 5405523 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Switzerland — 1.4%** |  |
| 23303 | Swiss Re AG (CHF) (c) | $3965678 |
| 6214 | Zurich Insurance Group AG <br> (CHF) (c) | 4337423 |
|  |  | 8303101 |
|  | **United Kingdom — 7.9%** |  |
| 3588311 | Aberdeen Group PLC (GBP) (c) | 7196294 |
| 176466 | British American Tobacco PLC <br> (GBP) (c) | 7239442 |
| 345873 | IG Group Holdings PLC <br> (GBP) (c) | 4267459 |
| 880247 | Investec PLC (GBP) | 5448812 |
| 2360910 | Legal & General Group PLC <br> (GBP) (c) | 7445494 |
| 1367595 | Phoenix Group Holdings PLC <br> (GBP) (c) | 10152050 |
| 84091 | Rio Tinto PLC (GBP) (c) | 5046342 |
|  |  | 46795893 |
|  | **United States — 13.6%** |  |
| 114274 | Altria Group, Inc. | 6858725 |
| 129042 | Carter's, Inc. | 5277818 |
| 180690 | First Interstate BancSystem, Inc., <br> Class A | 5176768 |
| 577990 | Ford Motor Co. | 5797240 |
| 266926 | Franklin Resources, Inc. | 5138326 |
| 1264599 | Kohl's Corp. | 10344420 |
| 447825 | Northwest Bancshares, Inc. | 5382856 |
| 131891 | OneMain Holdings, Inc. | 6446832 |
| 38434 | Prudential Financial, Inc. | 4292309 |
| 338752 | Sitio Royalties Corp., Class A | 6731002 |
| 98831 | Universal Corp. | 5539478 |
| 127622 | Verizon Communications, Inc. | 5788934 |
| 711602 | Western Union (The) Co. | 7528749 |
|  |  | 80303457 |
|  | **Total Investments — 98.8%** | 585369146 |
|  | (Cost $569,705,420) |  |
|  | **Net Other Assets and** <br> **Liabilities — 1.2%** | 6986544 |
|  | **Net Assets — 100.0%** | $592355690 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

See Notes to Financial Statements

------

**First Trust Dow Jones Global Select Dividend Index Fund (FGD)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 March 31, 2025, securities noted as
 such are valued at $401,811,509 or 67.8% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(e) This
 security may be resold to qualified foreign investors and foreign
 institutional buyers under Regulation S of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| AUD | – Australian Dollar |
| CAD | – Canadian Dollar |
| CHF | – Swiss Franc |
| DKK | – Danish Krone |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| HKD | – Hong Kong Dollar |
| JPY | – Japanese Yen |
| KRW | – South Korean Won |
| NOK | – Norwegian Krone |
| NZD | – New Zealand Dollar |
| SEK | – Swedish Krona |
| USD | – United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| EUR | 28.6% |
| USD | 14.7 |
| KRW | 12.8 |
| CAD | 11.8 |
| HKD | 11.0 |
| GBP | 9.9 |
| AUD | 3.1 |
| NZD | 1.7 |
| JPY | 1.7 |
| CHF | 1.4 |
| DKK | 1.3 |
| NOK | 1.1 |
| SEK | 0.9 |
| Total | 100.0% |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common <br> Stocks:<br>|  |  |  |  |
| Canada | $68984655 | $68984655 | $— | $— |
| Cayman <br> Islands<br>| 16822866 | 6422564 | 10400302 |  |
| Guernsey | 6731838 | 6731838 |  |  |
| Netherlands | 18198627 | 5550125 | 12648502 |  |
| New Zealand | 10116186 | 10116186 |  |  |
| United <br> Kingdom<br>| 46795893 | 5448812 | 41347081 |  |
| United States | 80303457 | 80303457 |  |  |
| Other Country <br> Categories\*<br>| 337415624 |  | 337415624 |  |
| Total <br> Investments<br>| $585369146 | $183557637 | $401811509 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for country breakout.

See Notes to Financial Statements

------

**First Trust Global Wind Energy ETF (FAN)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 99.1%** | **COMMON STOCKS (a) (b) — 99.1%** | **COMMON STOCKS (a) (b) — 99.1%** |
|  | **Bermuda — 0.8%** |  |
| 17205312 | Concord New Energy Group <br> Ltd. (HKD) (c) | $995049 |
|  | **Brazil — 0.7%** |  |
| 732825 | Serena Energia S.A. (BRL) (d) | 987553 |
|  | **Canada — 11.7%** |  |
| 255700 | Boralex, Inc., Class A (CAD) | 5138699 |
| 737845 | Northland Power, Inc. (CAD) (e) | 10085411 |
|  |  | 15224110 |
|  | **China — 7.9%** |  |
| 6194123 | China Datang Corp. Renewable <br> Power Co., Ltd., Class H <br> (HKD) (c) | 1782818 |
| 7937883 | China Longyuan Power Group <br> Corp., Ltd., Class H <br> (HKD) (c) | 6369261 |
| 1107745 | China Suntien Green Energy <br> Corp., Ltd., Class H <br> (HKD) (c) | 541984 |
| 2488035 | Goldwind Science & <br> Technology Co., Ltd., Class H <br> (HKD) (c) | 1566877 |
|  |  | 10260940 |
|  | **Denmark — 15.9%** |  |
| 239628 | Orsted A/S (DKK) (c) (d) (f) (g) | 10464823 |
| 744879 | Vestas Wind Systems A/S <br> (DKK) (c) (d) | 10305030 |
|  |  | 20769853 |
|  | **France — 2.2%** |  |
| 146865 | Engie S.A. (EUR) (c) | 2861795 |
|  | **Germany — 10.6%** |  |
| 19756 | Energiekontor AG (EUR) (c) | 1013705 |
| 388039 | Nordex SE (EUR) (c) (d) | 5992322 |
| 66487 | PNE AG (EUR) (e) | 1016561 |
| 83508 | RWE AG (EUR) | 2981622 |
| 43468 | SGL Carbon SE (EUR) (c) (d) | 159428 |
| 46086 | Siemens Energy AG <br> (EUR) (c) (d) | 2732080 |
|  |  | 13895718 |
|  | **Greece — 2.1%** |  |
| 129450 | Terna Energy S.A. (EUR) (c) | 2799012 |
|  | **Israel — 1.1%** |  |
| 152626 | Energix-Renewable Energies <br> Ltd. (ILS) (c) | 418920 |
| 60416 | Enlight Renewable Energy Ltd. <br> (ILS) (c) (d) | 973252 |
|  |  | 1392172 |
|  | **Italy — 6.7%** |  |
| 358685 | Enel S.p.A. (EUR) (c) | 2909772 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Italy (Continued)** |  |
| 178891 | ERG S.p.A. (EUR) (c) | $3398085 |
| 44389 | Prysmian S.p.A. (EUR) (c) | 2443489 |
|  |  | 8751346 |
|  | **Japan — 4.0%** |  |
| 105800 | Hitachi Ltd. (JPY) (c) | 2484121 |
| 398410 | Toray Industries, Inc. (JPY) (c) | 2722702 |
|  |  | 5206823 |
|  | **Netherlands — 0.7%** |  |
| 68545 | Fugro N.V. (EUR) (c) | 989592 |
|  | **Norway — 0.1%** |  |
| 732747 | Aker Horizons ASA <br> (NOK) (c) (d) | 96258 |
|  | **South Korea — 1.4%** |  |
| 46487 | CS Bearing Co., Ltd. <br> (KRW) (c) (d) | 145018 |
| 73246 | CS Wind Corp. (KRW) (c) | 1695082 |
|  |  | 1840100 |
|  | **Spain — 10.1%** |  |
| 19067 | Acciona S.A. (EUR) (c) | 2495548 |
| 934794 | EDP Renovaveis S.A. (EUR) (c) | 7788295 |
| 181502 | Iberdrola S.A. (EUR) (c) | 2930919 |
|  |  | 13214762 |
|  | **Sweden — 1.9%** |  |
| 121950 | SKF AB, Class B (SEK) (c) (e) | 2470534 |
|  | **Switzerland — 2.0%** |  |
| 14980 | BKW AG (CHF) (c) | 2620062 |
|  | **Taiwan — 2.7%** |  |
| 727131 | Century Iron & Steel Industrial <br> Co., Ltd. (TWD) (c) | 3517129 |
|  | **Turkey — 0.3%** |  |
| 521058 | Galata Wind Enerji A/S <br> (TRY) (c) | 349005 |
|  | **United Kingdom — 1.3%** |  |
| 282838 | ReNew Energy Global PLC, <br> Class A (d) | 1665916 |
|  | **United States — 14.9%** |  |
| 40806 | Alliant Energy Corp. | 2625866 |
| 28345 | American Superconductor <br> Corp. (d) | 514178 |
| 31393 | Arcosa, Inc. | 2421028 |
| 56302 | Clearway Energy, Inc., Class C | 1704262 |
| 7856 | GE Vernova, Inc. | 2398280 |
| 41553 | Hexcel Corp. | 2275442 |
| 37527 | NextEra Energy, Inc. | 2660289 |
| 17094 | Owens Corning | 2441365 |
| 32509 | Timken (The) Co. | 2336422 |
|  |  | 19377132 |
|  | **Total Common Stocks** | 129284861 |
|  | (Cost $185,062,203) |  |

---

See Notes to Financial Statements

------

**First Trust Global Wind Energy ETF (FAN)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 0.8%** | **MONEY MARKET FUNDS — 0.8%** | **MONEY MARKET FUNDS — 0.8%** |
| 1000307 | Morgan Stanley Institutional <br> Liquidity Funds - Treasury <br> Portfolio - Institutional Class - <br> 4.20% (h) | $1000307 |
|  | (Cost $1,000,307) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Value** |
| **REPURCHASE AGREEMENTS — 6.6%** | **REPURCHASE AGREEMENTS — 6.6%** | **REPURCHASE AGREEMENTS — 6.6%** |
| $4222356 | Citigroup, Inc., 4.35% (h), dated <br> 03/31/25, due 04/01/25, with a <br> maturity value of $4,222,866. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 1.50% to <br> 3.50%, due 08/15/26 to <br> 09/30/26. The value of the <br> collateral including accrued <br> interest is $4,306,804. (i) | 4222356 |
| 4394697 | RBC Dominion Securities, Inc., <br> 4.35% (h), dated 03/31/25, <br> due 04/01/25, with a maturity <br> value of $4,395,228. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 0.00% to <br> 4.00%, due 04/15/26 to <br> 02/15/54. The value of the <br> collateral including accrued <br> interest is $4,482,591. (i) | 4394697 |
|  | **Total Repurchase Agreements** | 8617053 |
|  | (Cost $8,617,053) |  |
|  | **Total Investments — 106.5%** | 138902221 |
|  | (Cost $194,679,563) |  |
|  | **Net Other Assets and** <br> **Liabilities — (6.5)%** | (8499679)<br>|
|  | **Net Assets — 100.0%** | $130402542 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 March 31, 2025, securities noted as
 such are valued at $88,031,967 or 67.5% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(e) All
 or a portion of this security is on loan (see Note 2E - 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 $7,652,933 and the total value of the
 collateral held by the Fund, including for securities sold and
 pending settlement, is $8,617,053.

&nbsp;&nbsp;&nbsp;&nbsp;(f) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(g) This
 security may be resold to qualified foreign investors and foreign
 institutional buyers under Regulation S of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(i) This
 security serves as collateral for securities on loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| BRL | – Brazilian Real |
| CAD | – Canadian Dollar |
| CHF | – Swiss Franc |
| DKK | – Danish Krone |
| EUR | – Euro |
| HKD | – Hong Kong Dollar |
| ILS | – Israeli Shekel |
| JPY | – Japanese Yen |
| KRW | – South Korean Won |
| NOK | – Norwegian Krone |
| SEK | – Swedish Krona |
| TRY | – Turkish Lira |
| TWD | – New Taiwan Dollar |
| USD | – United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust Global Wind Energy ETF (FAN)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| EUR | 30.6% |
| USD | 22.1 |
| DKK | 15.0 |
| CAD | 11.0 |
| HKD | 8.1 |
| JPY | 3.7 |
| TWD | 2.5 |
| CHF | 1.9 |
| SEK | 1.8 |
| KRW | 1.3 |
| ILS | 1.0 |
| BRL | 0.7 |
| TRY | 0.2 |
| NOK | 0.1 |
| Total | 100.0% |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks: |  |  |  |  |
| Brazil | $987553 | $987553 | $— | $— |
| Canada | 15224110 | 15224110 |  |  |
| Germany | 13895718 | 3998183 | 9897535 |  |
| United Kingdom | 1665916 | 1665916 |  |  |
| United States | 19377132 | 19377132 |  |  |
| Other Country <br> Categories\*<br>| 78134432 |  | 78134432 |  |
| Money Market <br> Funds<br>| 1000307 | 1000307 |  |  |
| Repurchase <br> Agreements<br>| 8617053 |  | 8617053 |  |
| Total Investments | $138902221 | $42253201 | $96649020 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for country 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Securities Lending Agency Agreement** | **Securities Lending Agency Agreement** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(1)</sup> <br>| $7652933 |
| Non-cash Collateral<sup>(2)</sup> <br>| (7652933)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(1)</sup> 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. 

<sup>(2)</sup> At March 31, 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Repurchase Agreements** | **Repurchase Agreements** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(3)</sup> <br>| $8617053 |
| Non-cash Collateral<sup>(4)</sup> <br>| (8617053)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(3)</sup> The amount is included in "Investments, at value" on the Statements of Assets and Liabilities. 

<sup>(4)</sup> At March 31, 2025, the value of the collateral received from each seller exceeded the value of the repurchase agreements. 

See Notes to Financial Statements

------

**First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS — 99.8%** | **COMMON STOCKS — 99.8%** | **COMMON STOCKS — 99.8%** |
|  | **Building Products — 8.5%**  |  |
| 1045 | Allegion PLC | $136331 |
| 935 | Builders FirstSource, Inc. (a) | 116819 |
| 360 | Carlisle Cos., Inc. | 122580 |
| 1961 | Carrier Global Corp. | 124327 |
| 1677 | Johnson Controls <br> International PLC | 134345 |
| 215 | Lennox International, Inc. | 120578 |
| 1852 | Masco Corp. | 128788 |
| 782 | Owens Corning | 111685 |
| 348 | Trane Technologies PLC | 117248 |
|  |  | 1112701 |
|  | **Construction & Engineering** <br> **— 3.2%**  |  |
| 1251 | AECOM | 116005 |
| 298 | Comfort Systems USA, Inc. | 96054 |
| 282 | EMCOR Group, Inc. | 104236 |
| 430 | Quanta Services, Inc. | 109298 |
|  |  | 425593 |
|  | **Construction Materials —** <br> **1.9%**  |  |
| 259 | Martin Marietta Materials, Inc. | 123836 |
| 526 | Vulcan Materials Co. | 122716 |
|  |  | 246552 |
|  | **Electric Utilities — 17.2%**  |  |
| 2306 | Alliant Energy Corp. | 148391 |
| 1455 | American Electric Power Co., <br> Inc. | 158988 |
| 550 | Constellation Energy Corp. | 110897 |
| 1240 | Duke Energy Corp. | 151243 |
| 1931 | Edison International | 113775 |
| 1752 | Entergy Corp. | 149778 |
| 2204 | Evergy, Inc. | 151966 |
| 2366 | Eversource Energy | 146952 |
| 3514 | Exelon Corp. | 161925 |
| 3375 | FirstEnergy Corp. | 136417 |
| 1899 | NextEra Energy, Inc. | 134620 |
| 1362 | NRG Energy, Inc. | 130017 |
| 6972 | PG&E Corp. | 119779 |
| 4172 | PPL Corp. | 150651 |
| 1617 | Southern (The) Co. | 148683 |
| 2022 | Xcel Energy, Inc. | 143137 |
|  |  | 2257219 |
|  | **Electrical Equipment — 6.6%**  |  |
| 752 | AMETEK, Inc. | 129449 |
| 389 | Eaton Corp. PLC | 105742 |
| 1116 | Emerson Electric Co. | 122358 |
| 366 | GE Vernova, Inc. | 111733 |
| 309 | Hubbell, Inc. | 102251 |
| 1922 | nVent Electric PLC | 100751 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Electrical Equipment** <br> **(Continued)**  |  |
| 480 | Rockwell Automation, Inc. | $124022 |
| 1038 | Vertiv Holdings Co., Class A | 74944 |
|  |  | 871250 |
|  | **Energy Equipment & Services** <br> **— 3.1%**  |  |
| 3090 | Baker Hughes Co. | 135806 |
| 4966 | Halliburton Co. | 125987 |
| 3458 | Schlumberger N.V. | 144544 |
|  |  | 406337 |
|  | **Gas Utilities — 1.1%**  |  |
| 962 | Atmos Energy Corp. | 148706 |
|  | **Ground Transportation —** <br> **3.0%**  |  |
| 4168 | CSX Corp. | 122664 |
| 567 | Norfolk Southern Corp. | 134294 |
| 579 | Union Pacific Corp. | 136783 |
|  |  | 393741 |
|  | **Independent Power and** <br> **Renewable Electricity** <br>**Producers — 0.8%**  |  |
| 835 | Vistra Corp. | 98062 |
|  | **Industrial Conglomerates —** <br> **2.1%**  |  |
| 998 | 3M Co. | 146566 |
| 610 | Honeywell International, Inc. | 129168 |
|  |  | 275734 |
|  | **IT Services — 7.8%**  |  |
| 1438 | Akamai Technologies, Inc. (a) | 115759 |
| 1160 | Cloudflare, Inc., Class A (a) | 130721 |
| 681 | GoDaddy, Inc., Class A (a) | 122675 |
| 540 | MongoDB, Inc. (a) | 94716 |
| 1571 | Okta, Inc. (a) | 165301 |
| 833 | Snowflake, Inc., Class A (a) | 121751 |
| 1209 | Twilio, Inc., Class A (a) | 118373 |
| 634 | VeriSign, Inc. (a) | 160954 |
|  |  | 1030250 |
|  | **Machinery — 17.5%**  |  |
| 372 | Caterpillar, Inc. | 122686 |
| 373 | Cummins, Inc. | 116913 |
| 717 | Dover Corp. | 125963 |
| 1749 | Fortive Corp. | 127992 |
| 1631 | Graco, Inc. | 136205 |
| 643 | IDEX Corp. | 116364 |
| 542 | Illinois Tool Works, Inc. | 134421 |
| 1504 | Ingersoll Rand, Inc. | 120365 |
| 939 | ITT, Inc. | 121281 |
| 664 | Nordson Corp. | 133942 |
| 1462 | Otis Worldwide Corp. | 150878 |
| 1237 | PACCAR, Inc. | 120447 |

---

See Notes to Financial Statements

------

**First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
|  | **Machinery (Continued)**  |  |
| 209 | Parker-Hannifin Corp. | $127041 |
| 1349 | Pentair PLC | 118010 |
| 398 | Snap-on, Inc. | 134130 |
| 1646 | Stanley Black & Decker, Inc. | 126544 |
| 702 | Westinghouse Air Brake <br> Technologies Corp. | 127308 |
| 1158 | Xylem, Inc. | 138335 |
|  |  | 2298825 |
|  | **Metals & Mining — 4.2%**  |  |
| 3377 | Freeport-McMoRan, Inc. | 127853 |
| 1136 | Nucor Corp. | 136706 |
| 502 | Reliance, Inc. | 144953 |
| 1152 | Steel Dynamics, Inc. | 144092 |
|  |  | 553604 |
|  | **Multi-Utilities — 11.1%**  |  |
| 1504 | Ameren Corp. | 151002 |
| 4306 | CenterPoint Energy, Inc. | 156006 |
| 2024 | CMS Energy Corp. | 152023 |
| 1508 | Consolidated Edison, Inc. | 166770 |
| 2458 | Dominion Energy, Inc. | 137820 |
| 1109 | DTE Energy Co. | 153341 |
| 3682 | NiSource, Inc. | 147611 |
| 1574 | Public Service Enterprise Group, <br> Inc. | 129540 |
| 1621 | Sempra | 115675 |
| 1417 | WEC Energy Group, Inc. | 154425 |
|  |  | 1464213 |
|  | **Oil, Gas & Consumable Fuels** <br> **— 5.2%**  |  |
| 596 | Cheniere Energy, Inc. | 137914 |
| 4744 | Kinder Morgan, Inc. | 135346 |
| 1305 | ONEOK, Inc. | 129482 |
| 699 | Targa Resources Corp. | 140129 |
| 2380 | Williams (The) Cos., Inc. | 142229 |
|  |  | 685100 |
|  | **Specialized REITs — 5.3%**  |  |
| 749 | American Tower Corp. | 162983 |
| 1534 | Crown Castle, Inc. | 159889 |
| 742 | Digital Realty Trust, Inc. | 106321 |
| 141 | Equinix, Inc. | 114964 |
| 672 | SBA Communications Corp. | 147847 |
|  |  | 692004 |
|  | **Water Utilities — 1.2%**  |  |
| 1095 | American Water Works Co., Inc. | 161534 |
|  | **Total Common Stocks** | 13121425 |
|  | (Cost $11,225,725) |  |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **WARRANTS (b) — 0.0%** | **WARRANTS (b) — 0.0%** | **WARRANTS (b) — 0.0%** |
|  | **Construction & Engineering** <br> **— 0.0%** |  |
| 298 | Webuild S.p.A., expiring 8/2/30 <br> (EUR) (a) (c) (d) (e) | $3 |
|  | (Cost $0) |  |
| **MONEY MARKET FUNDS — 0.2%** | **MONEY MARKET FUNDS — 0.2%** | **MONEY MARKET FUNDS — 0.2%** |
| 22057 | Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - <br> 4.23% (f) | 22057 |
|  | (Cost $22,057) |  |
|  | **Total Investments — 100.0%** | 13143485 |
|  | (Cost $11,247,782) |  |
|  | **Net Other Assets and** <br> **Liabilities — 0.0%** | 2187 |
|  | **Net Assets — 100.0%** | $13145672 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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 March 31, 2025, securities noted as
 such are valued at $3 or 0.0% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(e) This
 security's value was determined using significant unobservable
 inputs (see Note 2A - Portfolio Valuation in the Notes
 to Financial Statements).

&nbsp;&nbsp;&nbsp;&nbsp;(f) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations throughout the Portfolio of Investments: <br> EUR – Euro <br> REITs – Real Estate Investment Trusts

See Notes to Financial Statements

------

**First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks\* | $13121425 | $13121425 | $— | $— |
| Warrants\* | 3 |  |  | 3 |
| Money Market Funds | 22057 | 22057 |  |  |
| Total Investments | $13143485 | $13143482 | $— | $3 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for industry breakout.

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

------

**First Trust NASDAQ**<sup>®</sup> **Clean Edge**<sup>®</sup> **Smart Grid Infrastructure Index Fund (GRID)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 99.5%** | **COMMON STOCKS (a) (b) — 99.5%** | **COMMON STOCKS (a) (b) — 99.5%** |
|  | **Austria — 0.1%** |  |
| 16679 | Verbund AG (EUR) | $1180394 |
|  | **Belgium — 0.6%** |  |
| 142306 | Elia Group S.A./N.V. <br> (EUR) (c) (d) | 12342805 |
|  | **Brazil — 3.5%** |  |
| 1363278 | Alupar Investimento S.A. (BRL) | 6942470 |
| 7044 | Centrais Eletricas Brasileiras <br> S.A., ADR | 50012 |
| 3972786 | Cia Paranaense de Energia - <br> Copel, Class B (Preference <br> Shares) (BRL) | 7247361 |
| 1494995 | Energisa S.A. (BRL) | 10479335 |
| 5386691 | Equatorial Energia S.A. (BRL) | 30206891 |
| 1241689 | Isa Energia Brasil S.A. <br> (Preference Shares) (BRL) | 4861049 |
| 1481777 | Transmissora Alianca de Energia <br> Eletrica S.A. (BRL) | 8740393 |
| 293749 | WEG S.A. (BRL) | 2330863 |
|  |  | 70858374 |
|  | **Canada — 2.6%** |  |
| 69888 | Fortis, Inc. (CAD) | 3183460 |
| 39256 | Hammond Power Solutions, Inc. <br> (CAD) | 2075940 |
| 1366512 | Hydro One Ltd. (CAD) (e) (f) | 45950812 |
| 5775 | Stella-Jones, Inc. (CAD) | 273852 |
|  |  | 51484064 |
|  | **Cayman Islands — 0.1%** |  |
| 1971161 | Wasion Holdings Ltd. (HKD) (d) | 2082627 |
|  | **China — 0.4%** |  |
| 153461 | BYD Co., Ltd., Class H <br> (HKD) (d) | 7770732 |
|  | **Denmark — 0.7%** |  |
| 219510 | NKT A/S (DKK) (d) (g) | 14956659 |
|  | **France — 10.3%** |  |
| 238828 | Engie S.A. (EUR) (d) | 4653775 |
| 37005 | Legrand S.A. (EUR) (d) | 3918974 |
| 133618 | Nexans S.A. (EUR) (d) | 13117746 |
| 683656 | Schneider Electric SE (EUR) (d) | 157819304 |
| 634575 | SPIE S.A. (EUR) (d) | 27149314 |
|  |  | 206659113 |
|  | **Germany — 1.7%** |  |
| 295764 | E.ON SE (EUR) (d) | 4464496 |
| 169995 | Infineon Technologies AG <br> (EUR) (d) | 5666783 |
| 97419 | Siemens AG (EUR) (d) | 22498625 |
| 82089 | SMA Solar Technology AG <br> (EUR) (c) (d) | 1349191 |
|  |  | 33979095 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Ireland — 17.1%** |  |
| 567091 | Eaton Corp. PLC | $154152346 |
| 1941852 | Johnson Controls <br> International PLC | 155561764 |
| 653018 | nVent Electric PLC | 34231204 |
|  |  | 343945314 |
|  | **Italy — 6.6%** |  |
| 1010352 | Enel S.p.A. (EUR) (d) | 8196312 |
| 1272248 | Prysmian S.p.A. (EUR) (d) | 70033646 |
| 6051840 | Terna-Rete Elettrica Nazionale <br> (EUR) (d) | 54692317 |
|  |  | 132922275 |
|  | **Japan — 2.0%** |  |
| 96500 | Daihen Corp. (JPY) (d) | 4139730 |
| 14035 | GS Yuasa Corp. (JPY) (d) | 224878 |
| 641120 | Hitachi Ltd. (JPY) (d) | 15053116 |
| 184099 | Meidensha Corp. (JPY) (d) | 5369708 |
| 295800 | Mitsubishi Electric Corp. <br> (JPY) (d) | 5455227 |
| 32925 | NGK Insulators Ltd. (JPY) (d) | 405669 |
| 188900 | Osaki Electric Co., Ltd. <br> (JPY) (d) | 1020243 |
| 343570 | Panasonic Holdings Corp. <br> (JPY) (d) | 4098620 |
| 261800 | Renesas Electronics Corp. <br> (JPY) (d) | 3511432 |
| 105600 | Sumitomo Electric Industries <br> Ltd. (JPY) (d) | 1762456 |
|  |  | 41041079 |
|  | **Jersey — 2.8%** |  |
| 937562 | Aptiv PLC (g) | 55784939 |
|  | **Netherlands — 0.4%** |  |
| 93552 | Alfen N.V. <br> (EUR) (c) (d) (e) (f) (g) | 1266579 |
| 29819 | NXP Semiconductors N.V. | 5667399 |
| 13207 | STMicroelectronics N.V. | 290026 |
|  |  | 7224004 |
|  | **Portugal — 0.3%** |  |
| 322101 | EDP S.A. (EUR) (d) | 1084932 |
| 1520972 | REN - Redes Energeticas <br> Nacionais SGPS S.A. (EUR) | 4514514 |
|  |  | 5599446 |
|  | **South Korea — 3.0%** |  |
| 86827 | HD Hyundai Electric Co., Ltd. <br> (KRW) (d) | 17719609 |
| 522 | Hyosung Heavy Industries Corp. <br> (KRW) (d) | 155717 |
| 84094 | Iljin Electric Co., Ltd. <br> (KRW) (d) | 1458489 |
| 45163 | LS Electric Co., Ltd. (KRW) (d) | 5528963 |
| 236619 | Samsung SDI Co., Ltd. <br> (KRW) (d) | 30578990 |

---

See Notes to Financial Statements

------

**First Trust NASDAQ**<sup>®</sup> **Clean Edge**<sup>®</sup> **Smart Grid Infrastructure Index Fund (GRID)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** |
|  | **South Korea (Continued)** |  |
| 52381 | Sanil Electric Co., Ltd. <br> (KRW) (d) | $1878595 |
| 425037 | Taihan Electric Wire Co., Ltd. <br> (KRW) (d) (g) | 3343163 |
|  |  | 60663526 |
|  | **Spain — 2.4%** |  |
| 766263 | Iberdrola S.A. (EUR) (d) | 12373717 |
| 1745492 | Redeia Corp. S.A. (EUR) (d) | 35034358 |
|  |  | 47408075 |
|  | **Switzerland — 8.4%** |  |
| 3106591 | ABB Ltd. (CHF) (d) | 160293751 |
| 98232 | Landis+Gyr Group AG <br> (CHF) (d) | 5839125 |
| 108919 | R&S Group Holding AG <br> (CHF) (d) | 2278143 |
|  |  | 168411019 |
|  | **Taiwan — 2.1%** |  |
| 77361 | Advantech Co., Ltd. (TWD) (d) | 883948 |
| 1150961 | Allis Electric Co., Ltd. <br> (TWD) (d) | 3546199 |
| 59858 | Chung-Hsin Electric & <br> Machinery Manufacturing <br> Corp. (TWD) (d) | 239558 |
| 938727 | Fortune Electric Co., Ltd. <br> (TWD) (d) | 12940958 |
| 1277275 | Shihlin Electric & Engineering <br> Corp. (TWD) (d) | 5726843 |
| 3327696 | Ta Ya Electric Wire & Cable <br> (TWD) (d) | 3953076 |
| 339578 | Voltronic Power Technology <br> Corp. (TWD) (d) | 15879444 |
|  |  | 43170026 |
|  | **United Kingdom — 8.9%** |  |
| 13549153 | National Grid PLC (GBP) (d) | 176739087 |
| 142108 | SSE PLC (GBP) (d) | 2927207 |
|  |  | 179666294 |
|  | **United States — 25.5%** |  |
| 124933 | Advanced Energy Industries, <br> Inc. | 11907364 |
| 88575 | AES (The) Corp. | 1100101 |
| 157845 | American Superconductor <br> Corp. (g) | 2863308 |
| 65951 | Analog Devices, Inc. | 13300338 |
| 5871 | Arcosa, Inc. | 452771 |
| 128723 | Atkore, Inc. | 7722093 |
| 2928 | AZZ, Inc. | 244810 |
| 4453 | Belden, Inc. | 446413 |
| 529000 | Cisco Systems, Inc. | 32644590 |
| 4132 | Digi International, Inc. (g) | 114994 |
| 78929 | Emerson Electric Co. | 8653776 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **United States (Continued)** |  |
| 4857 | EnerSys | $444804 |
| 495717 | Enphase Energy, Inc. (g) | 30759240 |
| 3106 | ESCO Technologies, Inc. | 494227 |
| 223751 | Fluence Energy, Inc. (c) (g) | 1085192 |
| 33598 | GE Vernova, Inc. | 10256797 |
| 7927 | Generac Holdings, Inc. (g) | 1003955 |
| 90969 | Honeywell International, Inc. | 19262686 |
| 219296 | Hubbell, Inc. | 72567239 |
| 122002 | International Business Machines <br> Corp. | 30337017 |
| 165180 | Itron, Inc. (g) | 17304257 |
| 3195 | Littelfuse, Inc. | 628584 |
| 7991 | MasTec, Inc. (g) | 932630 |
| 59003 | MYR Group, Inc. (g) | 6672649 |
| 332891 | NVIDIA Corp. | 36078727 |
| 230979 | Oracle Corp. | 32293174 |
| 10954 | Preformed Line Products Co. | 1534546 |
| 145518 | QUALCOMM, Inc. | 22353020 |
| 320339 | Quanta Services, Inc. | 81423767 |
| 225026 | SolarEdge Technologies, <br> Inc. (c) (g) | 3640921 |
| 141937 | Tesla, Inc. (g) | 36784393 |
| 119774 | Texas Instruments, Inc. | 21523388 |
| 32683 | Trimble, Inc. (g) | 2145639 |
| 2581 | Valmont Industries, Inc. | 736540 |
| 6352 | WESCO International, Inc. | 986466 |
| 56502 | Willdan Group, Inc. (g) | 2300761 |
|  |  | 513001177 |
|  | **Total Common Stocks** | 2000151037 |
|  | (Cost $2,018,963,067) |  |
| **MONEY MARKET FUNDS — 0.2%** | **MONEY MARKET FUNDS — 0.2%** | **MONEY MARKET FUNDS — 0.2%** |
| 4270577 | Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - <br> 4.23% (h) | 4270577 |
|  | (Cost $4,270,577) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust NASDAQ**<sup>®</sup> **Clean Edge**<sup>®</sup> **Smart Grid Infrastructure Index Fund (GRID)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Value** |
| **REPURCHASE AGREEMENTS — 0.6%** | **REPURCHASE AGREEMENTS — 0.6%** | **REPURCHASE AGREEMENTS — 0.6%** |
| $5993333 | JPMorgan Chase & Co., <br> 4.36% (h), dated 03/31/25, <br> due 04/01/25, with a maturity <br> value of $5,994,059. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 2.38% to <br> 4.63%, due 02/15/42 to <br> 02/15/55. The value of the <br> collateral including accrued <br> interest is $6,113,200. (i) | $5993333 |
| 6237958 | RBC Dominion Securities, Inc., <br> 4.35% (h), dated 03/31/25, <br> due 04/01/25, with a maturity <br> value of $6,238,712. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 0.00% to <br> 4.00%, due 04/15/26 to <br> 02/15/54. The value of the <br> collateral including accrued <br> interest is $6,362,717. (i) | 6237958 |
|  | **Total Repurchase Agreements** | 12231291 |
|  | (Cost $12,231,291) |  |
|  | **Total Investments — 100.3%** | 2016652905 |
|  | (Cost $2,035,464,935) |  |
|  | **Net Other Assets and** <br> **Liabilities — (0.3)%** | (6902222)<br>|
|  | **Net Assets — 100.0%** | $2009750683 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;(c) All
 or a portion of this security is on loan (see Note 2E - 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 $11,222,566 and the total value of the
 collateral held by the Fund, including for securities sold and
 pending settlement, is $12,231,291.

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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 March 31, 2025, securities noted as
 such are valued at $953,424,836 or 47.4% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(e) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(f) This
 security may be resold to qualified foreign investors and foreign
 institutional buyers under Regulation S of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(i) This
 security serves as collateral for securities on loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| ADR | – American Depositary Receipt |
| BRL | – Brazilian Real |
| CAD | – Canadian Dollar |
| CHF | – Swiss Franc |
| DKK | – Danish Krone |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| HKD | – Hong Kong Dollar |
| JPY | – Japanese Yen |
| KRW | – South Korean Won |
| TWD | – New Taiwan Dollar |
| USD | – United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| USD | 46.4% |
| EUR | 21.9 |
| GBP | 8.9 |
| CHF | 8.4 |
| BRL | 3.5 |
| KRW | 3.0 |
| CAD | 2.6 |
| TWD | 2.1 |
| JPY | 2.0 |
| DKK | 0.7 |
| HKD | 0.5 |
| Total | 100.0% |

---

See Notes to Financial Statements

------

**First Trust NASDAQ**<sup>®</sup> **Clean Edge**<sup>®</sup> **Smart Grid Infrastructure Index Fund (GRID)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common <br> Stocks:<br>|  |  |  |  |
| Austria | $1180394 | $1180394 | $— | $— |
| Brazil | 70858374 | 70858374 |  |  |
| Canada | 51484064 | 51484064 |  |  |
| Ireland | 343945314 | 343945314 |  |  |
| Jersey | 55784939 | 55784939 |  |  |
| Netherlands | 7224004 | 5957425 | 1266579 |  |
| Portugal | 5599446 | 4514514 | 1084932 |  |
| United States | 513001177 | 513001177 |  |  |
| Other <br> Country <br> Categories\*<br>| 951073325 |  | 951073325 |  |
| Money <br> Market <br> Funds<br>| 4270577 | 4270577 |  |  |
| Repurchase <br> Agreements<br>| 12231291 |  | 12231291 |  |
| Total <br> Investments<br>| $2016652905 | $1050996778 | $965656127 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for country 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Securities Lending Agency Agreement** | **Securities Lending Agency Agreement** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(1)</sup> <br>| $11222566 |
| Non-cash Collateral<sup>(2)</sup> <br>| (11222566)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(1)</sup> 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. 

<sup>(2)</sup> At March 31, 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Repurchase Agreements** | **Repurchase Agreements** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(3)</sup> <br>| $12231291 |
| Non-cash Collateral<sup>(4)</sup> <br>| (12231291)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(3)</sup> The amount is included in "Investments, at value" on the Statements of Assets and Liabilities. 

<sup>(4)</sup> At March 31, 2025, the value of the collateral received from each seller exceeded the value of the repurchase agreements. 

See Notes to Financial Statements

------

**First Trust Indxx Global Natural Resources Income ETF (FTRI)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 99.5%** | **COMMON STOCKS (a) (b) — 99.5%** | **COMMON STOCKS (a) (b) — 99.5%** |
|  | **Australia — 4.3%** |  |
| 221252 | Gold Road Resources Ltd. <br> (AUD) (c) | $402914 |
| 43384 | GrainCorp Ltd., Class A <br> (AUD) (c) | 185183 |
| 126596 | IGO Ltd. (AUD) (c) | 315675 |
| 365777 | Origin Energy Ltd. (AUD) (c) | 2420487 |
| 290889 | Perseus Mining Ltd. (AUD) (c) | 611893 |
|  |  | 3936152 |
|  | **Bermuda — 0.0%** |  |
| 207116 | Guangdong Land Holdings Ltd. <br> (HKD) (c) (d) | 6951 |
|  | **Brazil — 0.2%** |  |
| 40296 | Cia de Saneamento de Minas <br> Gerais Copasa MG (BRL) | 139464 |
|  | **Canada — 36.5%** |  |
| 84884 | Agnico Eagle Mines Ltd. | 9202274 |
| 89696 | Alamos Gold, Inc., Class A | 2398471 |
| 125749 | ARC Resources Ltd. (CAD) | 2528000 |
| 56866 | Birchcliff Energy Ltd. (CAD) | 263969 |
| 293942 | Canadian Natural Resources Ltd. <br> (CAD) | 9044684 |
| 36962 | Dundee Precious Metals, Inc. <br> (CAD) | 490070 |
| 261382 | Kinross Gold Corp. | 3296027 |
| 76809 | Nutrien Ltd. (e) | 3815103 |
| 20494 | Parex Resources, Inc. (CAD) | 191119 |
| 41233 | Peyto Exploration & <br> Development Corp. (CAD) (e) | 522343 |
| 10916 | West Fraser Timber Co., Ltd. <br> (CAD) | 838432 |
| 123958 | Whitecap Resources, Inc. <br> (CAD) (e) | 797645 |
|  |  | 33388137 |
|  | **China — 4.6%** |  |
| 771613 | CMOC Group Ltd., Class H <br> (HKD) (c) | 637825 |
| 676610 | Yankuang Energy Group Co., <br> Ltd., Class H (HKD) (c) | 702304 |
| 1267096 | Zijin Mining Group Co., Ltd., <br> Class H (HKD) (c) | 2891381 |
|  |  | 4231510 |
|  | **Colombia — 4.6%** |  |
| 400293 | Ecopetrol S.A., ADR (e) | 4179059 |
|  | **Hong Kong — 0.5%** |  |
| 606230 | Guangdong Investment Ltd. <br> (HKD) (c) | 446328 |
|  | **India — 2.9%** |  |
| 486221 | Coal India Ltd. (INR) (c) | 2254184 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **India (Continued)** |  |
| 48166 | Gujarat State Fertilizers & <br> Chemicals Ltd. (INR) (c) | $99450 |
| 33449 | Tata Chemicals Ltd. (INR) (c) | 337222 |
|  |  | 2690856 |
|  | **Ireland — 3.4%** |  |
| 35071 | Pentair PLC | 3068011 |
|  | **Japan — 2.7%** |  |
| 179500 | Inpex Corp. (JPY) (c) | 2489808 |
|  | **Luxembourg — 0.5%** |  |
| 16245 | Adecoagro S.A. | 181456 |
| 8079 | APERAM S.A. (EUR) (c) | 263239 |
|  |  | 444695 |
|  | **Norway — 1.7%** |  |
| 65247 | Aker BP ASA (NOK) (c) | 1546945 |
|  | **Switzerland — 2.4%** |  |
| 28373 | Bunge Global S.A. | 2168265 |
|  | **United Kingdom — 0.3%** |  |
| 110730 | Harbour Energy PLC (GBP) (c) | 301117 |
|  | **United States — 34.9%** |  |
| 18985 | Alliance Resource Partners, <br> L.P. (f) | 517911 |
| 39855 | American Water Works Co., Inc. | 5879410 |
| 6893 | Andersons (The), Inc. | 295916 |
| 12631 | California Water Service Group | 612098 |
| 35964 | CF Industries Holdings, Inc. | 2810587 |
| 58669 | Essential Utilities, Inc. | 2319185 |
| 26525 | FMC Corp. | 1119090 |
| 233211 | Freeport-McMoRan, Inc. | 8829368 |
| 3648 | Middlesex Water Co. | 233837 |
| 67359 | Mosaic (The) Co. | 1819367 |
| 20612 | Northern Oil & Gas, Inc. | 623101 |
| 6599 | SJW Group | 360899 |
| 12720 | UFP Industries, Inc. | 1361549 |
| 5771 | Watts Water Technologies, Inc., <br> Class A | 1176822 |
| 133204 | Weyerhaeuser Co. | 3900213 |
|  |  | 31859353 |
|  | **Total Common Stocks** | 90896651 |
|  | (Cost $91,167,302) |  |
| **MONEY MARKET FUNDS — 0.3%** | **MONEY MARKET FUNDS — 0.3%** | **MONEY MARKET FUNDS — 0.3%** |
| 324203 | Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - <br> 4.23% (g) | 324203 |
|  | (Cost $324,203) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust Indxx Global Natural Resources Income ETF (FTRI)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Value** |
| **REPURCHASE AGREEMENTS — 9.8%** | **REPURCHASE AGREEMENTS — 9.8%** | **REPURCHASE AGREEMENTS — 9.8%** |
| $4371874 | JPMorgan Chase & Co., <br> 4.36% (g), dated 03/31/25, <br> due 04/01/25, with a maturity <br> value of $4,372,403. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 2.38% to <br> 4.63%, due 02/15/42 to <br> 02/15/55. The value of the <br> collateral including accrued <br> interest is $4,459,312. (h) | $4371874 |
| 4550317 | RBC Dominion Securities, Inc., <br> 4.35% (g), dated 03/31/25, <br> due 04/01/25, with a maturity <br> value of $4,550,867. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 0.00% to <br> 4.00%, due 04/15/26 to <br> 02/15/54. The value of the <br> collateral including accrued <br> interest is $4,641,324. (h) | 4550317 |
|  | **Total Repurchase Agreements** | 8922191 |
|  | (Cost $8,922,191) |  |
|  | **Total Investments — 109.6%** | 100143045 |
|  | (Cost $100,413,696) |  |
|  | **Net Other Assets and** <br> **Liabilities — (9.6)%** | (8756482)<br>|
|  | **Net Assets — 100.0%** | $91386563 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 March 31, 2025, securities noted as
 such are valued at $15,912,906 or 17.4% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(e) All
 or a portion of this security is on loan (see Note 2E - 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 $8,709,081 and the total value of the
 collateral held by the Fund, including for securities sold and
 pending settlement, is $8,922,191.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Security
 is a Master Limited Partnership.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(h) This
 security serves as collateral for securities on loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| ADR | – American Depositary Receipt |
| AUD | – Australian Dollar |
| BRL | – Brazilian Real |
| CAD | – Canadian Dollar |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| HKD | – Hong Kong Dollar |
| INR | – Indian Rupee |
| JPY | – Japanese Yen |
| NOK | – Norwegian Krone |
| USD | – United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| USD | 69.3% |
| CAD | 14.7 |
| HKD | 4.7 |
| AUD | 3.9 |
| INR | 2.7 |
| JPY | 2.5 |
| NOK | 1.5 |
| GBP | 0.3 |
| EUR | 0.3 |
| BRL | 0.1 |
| Total | 100.0% |

---

See Notes to Financial Statements

------

**First Trust Indxx Global Natural Resources Income ETF (FTRI)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks: |  |  |  |  |
| Brazil | $139464 | $139464 | $— | $— |
| Canada | 33388137 | 33388137 |  |  |
| Colombia | 4179059 | 4179059 |  |  |
| Ireland | 3068011 | 3068011 |  |  |
| Luxembourg | 444695 | 181456 | 263239 |  |
| Switzerland | 2168265 | 2168265 |  |  |
| United States | 31859353 | 31859353 |  |  |
| Other Country <br> Categories\*<br>| 15649667 |  | 15649667 |  |
| Money Market <br> Funds<br>| 324203 | 324203 |  |  |
| Repurchase <br> Agreements<br>| 8922191 |  | 8922191 |  |
| Total Investments | $100143045 | $75307948 | $24835097 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for country 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Securities Lending Agency Agreement** | **Securities Lending Agency Agreement** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(1)</sup> <br>| $8709081 |
| Non-cash Collateral<sup>(2)</sup> <br>| (8709081)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(1)</sup> 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. 

<sup>(2)</sup> At March 31, 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Repurchase Agreements** | **Repurchase Agreements** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(3)</sup> <br>| $8922191 |
| Non-cash Collateral<sup>(4)</sup> <br>| (8922191)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(3)</sup> The amount is included in "Investments, at value" on the Statements of Assets and Liabilities. 

<sup>(4)</sup> At March 31, 2025, the value of the collateral received from each seller exceeded the value of the repurchase agreements. 

See Notes to Financial Statements

------

**First Trust Indxx Global Agriculture ETF (FTAG)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 100.0%** | **COMMON STOCKS (a) (b) — 100.0%** | **COMMON STOCKS (a) (b) — 100.0%** |
|  | **Australia — 0.7%** |  |
| 26015 | Incitec Pivot Ltd. (AUD) (c) | $41723 |
|  | **Brazil — 0.3%** |  |
| 6967 | Tres Tentos Agroindustrial S.A. <br> (BRL) | 17691 |
|  | **Canada — 4.4%** |  |
| 5213 | Nutrien Ltd. (CAD) | 258721 |
|  | **Chile — 1.4%** |  |
| 1997 | Sociedad Quimica y Minera de <br> Chile S.A., ADR | 79341 |
|  | **China — 0.1%** |  |
| 5948 | First Tractor Co., Ltd., Class H <br> (HKD) (c) | 4669 |
|  | **Germany — 16.3%** |  |
| 10438 | BASF SE (EUR) (c) | 523246 |
| 10522 | Bayer AG (EUR) (c) | 252234 |
| 6494 | Evonik Industries AG (EUR) (c) | 140784 |
| 2496 | K+S AG (EUR) (c) | 34107 |
|  |  | 950371 |
|  | **India — 16.5%** |  |
| 5603 | Chambal Fertilisers and <br> Chemicals Ltd. (INR) (c) | 40783 |
| 4120 | Coromandel International Ltd. <br> (INR) (c) | 95223 |
| 1564 | Escorts Kubota Ltd. (INR) (c) | 59281 |
| 16468 | Mahindra & Mahindra Ltd. <br> (INR) (c) | 511154 |
| 2122 | PI Industries Ltd. (INR) (c) | 84853 |
| 6980 | Sumitomo Chemical India Ltd. <br> (INR) (c) | 45546 |
| 3562 | Tata Chemicals Ltd. (INR) (c) | 35911 |
| 11808 | UPL Ltd. (INR) (c) | 87693 |
|  |  | 960444 |
|  | **Israel — 1.7%** |  |
| 18059 | ICL Group Ltd. (ILS) (c) | 102559 |
|  | **Japan — 6.7%** |  |
| 16000 | Kubota Corp. (JPY) (c) | 197718 |
| 2800 | Mitsui Chemicals, Inc. (JPY) (c) | 62890 |
| 800 | Nippon Soda Co., Ltd. (JPY) (c) | 15545 |
| 1900 | Nissan Chemical Corp. (JPY) (c) | 56569 |
| 23100 | Sumitomo Chemical Co., Ltd. <br> (JPY) (c) | 56009 |
|  |  | 388731 |
|  | **Malaysia — 1.6%** |  |
| 111901 | Petronas Chemicals Group Bhd <br> (MYR) (c) | 91656 |
|  | **Mexico — 0.3%** |  |
| 27421 | Orbia Advance Corp. S.A.B. de <br> C.V. (MXN) | 20903 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Netherlands — 4.3%** |  |
| 17450 | CNH Industrial N.V. | $214286 |
| 2946 | OCI N.V. (EUR) (c) | 34210 |
|  |  | 248496 |
|  | **Qatar — 4.4%** |  |
| 72634 | Industries Qatar QSC (QAR) (c) | 256725 |
|  | **Russia — 0.0%** |  |
| 1918 | PhosAgro PJSC <br> (RUB) (c) (d) (e) (f) | 0 |
|  | **Singapore — 3.8%** |  |
| 89300 | Wilmar International Ltd. <br> (SGD) (c) | 221432 |
|  | **Switzerland — 3.5%** |  |
| 143 | Bucher Industries AG (CHF) (c) | 60018 |
| 1873 | Bunge Global S.A. | 143135 |
|  |  | 203153 |
|  | **Taiwan — 0.4%** |  |
| 13703 | Taiwan Fertilizer Co., Ltd. <br> (TWD) (c) | 21068 |
|  | **Turkey — 1.1%** |  |
| 4668 | Gubre Fabrikalari T.A.S. <br> (TRY) (c) (e) | 32383 |
| 1400 | Turk Traktor ve Ziraat <br> Makineleri A/S (TRY) | 30118 |
|  |  | 62501 |
|  | **United States — 32.5%** |  |
| 1043 | AGCO Corp. | 96550 |
| 169 | Alamo Group, Inc. | 30117 |
| 2371 | CF Industries Holdings, Inc. | 185294 |
| 9078 | Corteva, Inc. | 571278 |
| 1234 | Deere & Co. | 579178 |
| 1746 | FMC Corp. | 73664 |
| 152 | Lindsay Corp. | 19231 |
| 4432 | Mosaic (The) Co. | 119708 |
| 804 | Scotts Miracle-Gro (The) Co. | 44132 |
| 629 | SiteOne Landscape Supply, <br> Inc. (e) | 76386 |
| 1396 | Toro (The) Co. | 101559 |
|  |  | 1897097 |
|  | **Total Common Stocks** | 5827281 |
|  | (Cost $7,453,374) |  |

---

See Notes to Financial Statements

------

**First Trust Indxx Global Agriculture ETF (FTAG)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 0.5%** | **MONEY MARKET FUNDS — 0.5%** | **MONEY MARKET FUNDS — 0.5%** |
| 27568 | Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - <br> 4.23% (g) | $27568 |
|  | (Cost $27,568) |  |
|  | **Total Investments — 100.5%** | 5854849 |
|  | (Cost $7,480,942) |  |
|  | **Net Other Assets and** <br> **Liabilities — (0.5)%** | (27355)<br>|
|  | **Net Assets — 100.0%** | $5827494 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 March 31, 2025, securities noted as
 such are valued at $3,165,989 or 54.3% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(f) This
 security's value was determined using significant unobservable
 inputs (see Note 2A - Portfolio Valuation in the Notes
 to Financial Statements).

&nbsp;&nbsp;&nbsp;&nbsp;(g) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| ADR | – American Depositary Receipt |
| AUD | – Australian Dollar |
| BRL | – Brazilian Real |
| CAD | – Canadian Dollar |
| CHF | – Swiss Franc |
| EUR | – Euro |
| HKD | – Hong Kong Dollar |
| ILS | – Israeli Shekel |
| INR | – Indian Rupee |
| JPY | – Japanese Yen |
| MXN | – Mexican Peso |
| MYR | – Malaysian Ringgit |
| QAR | – Qatari Riyal |
| RUB | – Russian Ruble |
| SGD | – Singapore Dollar |
| TRY | – Turkish Lira |
| TWD | – New Taiwan Dollar |
| USD | – United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| USD | 40.3% |
| EUR | 16.8 |
| INR | 16.4 |
| JPY | 6.6 |
| CAD | 4.4 |
| QAR | 4.4 |
| SGD | 3.8 |
| ILS | 1.7 |
| MYR | 1.6 |
| TRY | 1.1 |
| CHF | 1.0 |
| AUD | 0.7 |
| TWD | 0.4 |
| MXN | 0.4 |
| BRL | 0.3 |
| HKD | 0.1 |
| RUB | 0.0<sup>‡</sup> <br>|
| Total | 100.0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>‡</sup> <br>| Investment is valued at $0. |

---

See Notes to Financial Statements

------

**First Trust Indxx Global Agriculture ETF (FTAG)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks: |  |  |  |  |
| Brazil | $17691 | $17691 | $— | $— |
| Canada | 258721 | 258721 |  |  |
| Chile | 79341 | 79341 |  |  |
| Mexico | 20903 | 20903 |  |  |
| Netherlands | 248496 | 214286 | 34210 |  |
| Russia | —\*\* |  |  | —\*\* |
| Switzerland | 203153 | 143135 | 60018 |  |
| Turkey | 62501 | 30118 | 32383 |  |
| United States | 1897097 | 1897097 |  |  |
| Other Country <br> Categories\*<br>| 3039378 |  | 3039378 |  |
| Money Market Funds | 27568 | 27568 |  |  |
| Total Investments | $5854849 | $2688860 | $3165989 | $—\*\* |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for country breakout.

\*\* Investment is 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

------

**First Trust Indxx NextG ETF (NXTG)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 99.5%** | **COMMON STOCKS (a) (b) — 99.5%** | **COMMON STOCKS (a) (b) — 99.5%** |
|  | **Australia — 0.6%** |  |
| 731553 | Telstra Group Ltd. (AUD) (c) | $1932611 |
|  | **Brazil — 0.6%** |  |
| 228011 | Telefonica Brasil S.A., ADR | 1988256 |
|  | **Canada — 1.5%** |  |
| 72624 | BCE, Inc. (CAD) (d) | 1666913 |
| 55644 | Rogers Communications, Inc., <br> Class B (CAD) | 1485980 |
| 127240 | TELUS Corp. (CAD) | 1824977 |
|  |  | 4977870 |
|  | **Cayman Islands — 2.0%** |  |
| 1087226 | Xiaomi Corp., Class B <br> (HKD) (c) (e) (f) (g) | 6879673 |
|  | **China — 2.9%** |  |
| 3181447 | China Tower Corp., Ltd., <br> Class H (HKD) (c) (e) (g) | 4285570 |
| 1774641 | ZTE Corp., Class H <br> (HKD) (c) (d) | 5475592 |
|  |  | 9761162 |
|  | **Finland — 3.0%** |  |
| 101080 | Elisa Oyj (EUR) (c) | 4928778 |
| 997530 | Nokia Oyj, ADR | 5256983 |
|  |  | 10185761 |
|  | **France — 0.7%** |  |
| 187821 | Orange S.A. (EUR) (c) | 2433068 |
|  | **Germany — 1.9%** |  |
| 59984 | Deutsche Telekom AG <br> (EUR) (c) | 2214615 |
| 127160 | Infineon Technologies AG <br> (EUR) (c) | 4238879 |
|  |  | 6453494 |
|  | **Guernsey — 1.3%** |  |
| 49964 | Amdocs Ltd. | 4571706 |
|  | **Hong Kong — 1.4%** |  |
| 3620826 | Lenovo Group Ltd. (HKD) (c) | 4920565 |
|  | **India — 5.9%** |  |
| 100318 | Bharti Airtel Ltd. (INR) (c) | 2028057 |
| 196172 | HCL Technologies Ltd. <br> (INR) (c) | 3634149 |
| 190066 | Infosys Ltd., ADR | 3468704 |
| 85197 | Tata Consultancy Services Ltd. <br> (INR) (c) | 3583946 |
| 212166 | Tech Mahindra Ltd. (INR) (c) | 3499550 |
| 1214028 | Wipro Ltd., ADR | 3714926 |
|  |  | 19929332 |
|  | **Indonesia — 0.5%** |  |
| 10622786 | Telkom Indonesia Persero Tbk <br> PT (IDR) (c) (h) | 1542745 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Italy — 3.1%** |  |
| 424669 | Infrastrutture Wireless Italiane <br> S.p.A. (EUR) (c) (e) (g) | $4496792 |
| 68272 | Prysmian S.p.A. (EUR) (c) | 3758180 |
| 7093030 | Telecom Italia S.p.A. <br> (EUR) (c) (f) | 2396035 |
|  |  | 10651007 |
|  | **Japan — 11.6%** |  |
| 235120 | Fujitsu Ltd. (JPY) (c) | 4679099 |
| 114096 | KDDI Corp. (JPY) (c) | 1802221 |
| 430184 | Kyocera Corp. (JPY) (c) | 4858945 |
| 249565 | Mitsubishi Electric Corp. <br> (JPY) (c) | 4602549 |
| 256595 | NEC Corp. (JPY) (c) | 5465659 |
| 4314750 | Nippon Telegraph & Telephone <br> Corp. (JPY) (c) | 4170084 |
| 330459 | Renesas Electronics Corp. <br> (JPY) (c) | 4432331 |
| 3341780 | SoftBank Corp. (JPY) (c) (d) | 4661701 |
| 194580 | Sony Group Corp. (JPY) (c) | 4923459 |
|  |  | 39596048 |
|  | **Malaysia — 0.5%** |  |
| 2338055 | CelcomDigi Bhd (MYR) (c) | 1836242 |
|  | **Mexico — 0.5%** |  |
| 2481450 | America Movil S.A.B. de C.V., <br> Series B (MXN) | 1767917 |
|  | **Netherlands — 2.8%** |  |
| 503635 | Koninklijke KPN N.V. <br> (EUR) (c) | 2133233 |
| 20294 | NXP Semiconductors N.V. | 3857077 |
| 168360 | STMicroelectronics N.V. <br> (EUR) (c) | 3690072 |
|  |  | 9680382 |
|  | **New Zealand — 0.4%** |  |
| 1137640 | Spark New Zealand Ltd. (NZD) | 1324084 |
|  | **Norway — 0.7%** |  |
| 166002 | Telenor ASA (NOK) (c) | 2371999 |
|  | **Philippines — 0.6%** |  |
| 52665 | Globe Telecom, Inc. (PHP) (c) | 2067602 |
|  | **Qatar — 0.6%** |  |
| 577345 | Ooredoo QPSC (QAR) | 1871099 |
|  | **Russia — 0.0%** |  |
| 755018 | Mobile TeleSystems PJSC, <br> ADR (c) (f) (h) (i) | 0 |
|  | **Singapore — 0.6%** |  |
| 822052 | Singapore Telecommunications <br> Ltd. (SGD) (c) | 2085015 |
|  | **South Africa — 1.4%** |  |
| 389572 | MTN Group Ltd. (ZAR) (c) | 2620565 |
| 314821 | Vodacom Group Ltd. (ZAR) (c) | 2162652 |
|  |  | 4783217 |

---

See Notes to Financial Statements

------

**First Trust Indxx NextG ETF (NXTG)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** |
|  | **South Korea — 4.7%** |  |
| 121709 | KT Corp., ADR | $2155466 |
| 72046 | LG Electronics, Inc. (KRW) (c) | 3800290 |
| 113161 | Samsung Electronics Co., Ltd. <br> (KRW) (c) | 4486321 |
| 45674 | Samsung SDS Co., Ltd. <br> (KRW) (c) | 3616843 |
| 47658 | SK Telecom Co., Ltd. <br> (KRW) (c) | 1795162 |
|  |  | 15854082 |
|  | **Spain — 1.1%** |  |
| 54454 | Cellnex Telecom S.A. <br> (EUR) (c) (e) (f) (g) | 1935778 |
| 418835 | Telefonica S.A. (EUR) (c) | 1974135 |
|  |  | 3909913 |
|  | **Sweden — 2.7%** |  |
| 184142 | Tele2 AB, Class B (SEK) (c) | 2480981 |
| 534558 | Telefonaktiebolaget LM <br> Ericsson, Class B (SEK) (c) | 4159266 |
| 677801 | Telia Co., AB (SEK) (c) | 2444046 |
|  |  | 9084293 |
|  | **Switzerland — 0.6%** |  |
| 3316 | Swisscom AG (CHF) (c) | 1910851 |
|  | **Taiwan — 10.1%** |  |
| 408235 | Advantech Co., Ltd. (TWD) (c) | 4664605 |
| 915279 | ASE Technology Holding Co., <br> Ltd. (TWD) (c) | 4022396 |
| 495297 | Chunghwa Telecom Co., Ltd. <br> (TWD) (c) | 1924172 |
| 344600 | Delta Electronics, Inc. <br> (TWD) (c) | 3811365 |
| 681168 | Far EasTone <br> Telecommunications Co., Ltd. <br> (TWD) (c) | 1897616 |
| 104127 | MediaTek, Inc. (TWD) (c) | 4487921 |
| 536572 | Taiwan Mobile Co., Ltd. <br> (TWD) (c) | 1888172 |
| 23080 | Taiwan Semiconductor <br> Manufacturing Co., Ltd., ADR | 3831280 |
| 3381150 | United Microelectronics Corp. <br> (TWD) (c) | 4727598 |
| 58294 | Wiwynn Corp. (TWD) (c) | 2951985 |
|  |  | 34207110 |
|  | **Thailand — 0.5%** |  |
| 221600 | Advanced Info Service PCL <br> (THB) (c) | 1802014 |
|  | **United Arab Emirates — 0.6%** |  |
| 420271 | Emirates Telecommunications <br> Group Co. PJSC (AED) | 1933727 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **United Kingdom — 2.0%** |  |
| 2303188 | BT Group PLC (GBP) (c) | $4940269 |
| 2149628 | Vodafone Group PLC (GBP) (c) | 2019846 |
|  |  | 6960115 |
|  | **United States — 32.1%** |  |
| 33836 | Advanced Micro Devices, <br> Inc. (f) | 3476311 |
| 22337 | American Tower Corp. | 4860531 |
| 20295 | Analog Devices, Inc. | 4092893 |
| 17820 | Apple, Inc. | 3958357 |
| 41345 | Arista Networks, Inc. (f) | 3203411 |
| 80523 | AT&T, Inc. | 2277190 |
| 24459 | Broadcom, Inc. | 4095170 |
| 52281 | Ciena Corp. (f) | 3159341 |
| 75088 | Cisco Systems, Inc. | 4633680 |
| 44742 | Crown Castle, Inc. | 4663459 |
| 23616 | Digital Realty Trust, Inc. | 3383937 |
| 4529 | Equinix, Inc. | 3692720 |
| 16895 | F5, Inc. (f) | 4498632 |
| 202433 | Hewlett Packard Enterprise Co. | 3123541 |
| 212660 | Intel Corp. | 4829509 |
| 19025 | International Business Machines <br> Corp. | 4730756 |
| 118473 | Juniper Networks, Inc. | 4287538 |
| 26250 | Keysight Technologies, Inc. (f) | 3931462 |
| 40538 | Marvell Technology, Inc. | 2495925 |
| 71856 | Microchip Technology, Inc. | 3478549 |
| 44984 | Micron Technology, Inc. | 3908660 |
| 9401 | Motorola Solutions, Inc. | 4115852 |
| 32177 | NVIDIA Corp. | 3487343 |
| 63457 | Qorvo, Inc. (f) | 4594921 |
| 27927 | QUALCOMM, Inc. | 4289866 |
| 20452 | SBA Communications Corp. | 4499645 |
| 49299 | Skyworks Solutions, Inc. | 3186194 |
| 8063 | T-Mobile US, Inc. | 2150483 |
| 44701 | Verizon Communications, Inc. | 2027637 |
|  |  | 109133513 |
|  | **Total Common Stocks** | 338406473 |
|  | (Cost $328,346,440) |  |
| **MONEY MARKET FUNDS — 0.3%** | **MONEY MARKET FUNDS — 0.3%** | **MONEY MARKET FUNDS — 0.3%** |
| 919061 | Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - 4.23% (j) | 919061 |
|  | (Cost $919,061) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust Indxx NextG ETF (NXTG)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Value** |
| **REPURCHASE AGREEMENTS — 2.3%** | **REPURCHASE AGREEMENTS — 2.3%** | **REPURCHASE AGREEMENTS — 2.3%** |
| $2991971 | Bank of America Corp., <br> 4.36% (j), dated 03/31/25, due <br> 04/01/25, with a maturity <br> value of $2,992,333. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 0.00% to <br> 4.38%, due 05/15/34 to <br> 11/15/48. The value of the <br> collateral including accrued <br> interest is $3,051,810. (k) | $2991971 |
| 795158 | JPMorgan Chase & Co., <br> 4.36% (j), dated 03/31/25, due <br> 04/01/25, with a maturity <br> value of $795,254. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 2.38% to <br> 4.63%, due 02/15/42 to <br> 02/15/55. The value of the <br> collateral including accrued <br> interest is $811,061. (k) | 795158 |
| 3941706 | RBC Dominion Securities, Inc., <br> 4.35% (j), dated 03/31/25, due <br> 04/01/25, with a maturity <br> value of $3,942,182. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 0.00% to <br> 4.00%, due 04/15/26 to <br> 02/15/54. The value of the <br> collateral including accrued <br> interest is $4,020,540. (k) | 3941706 |
|  | **Total Repurchase Agreements** | 7728835 |
|  | (Cost $7,728,835) |  |
|  | **Total Investments — 102.1%** | 347054369 |
|  | (Cost $336,994,336) |  |
|  | **Net Other Assets and** <br> **Liabilities — (2.1)%** | (7023940)<br>|
|  | **Net Assets — 100.0%** | $340030429 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 March 31, 2025, securities noted as
 such are valued at $188,553,865 or 55.5% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(d) All
 or a portion of this security is on loan (see Note 2E - 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 $7,356,170 and the total value of the
 collateral held by the Fund, including for securities sold and
 pending settlement, is $7,728,835.

&nbsp;&nbsp;&nbsp;&nbsp;(e) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(g) This
 security may be resold to qualified foreign investors and foreign
 institutional buyers under Regulation S of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;(h) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(i) This
 security's value was determined using significant unobservable
 inputs (see Note 2A - Portfolio Valuation in the Notes
 to Financial Statements).

&nbsp;&nbsp;&nbsp;&nbsp;(j) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(k) This
 security serves as collateral for securities on loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust Indxx NextG ETF (NXTG)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| ADR | – American Depositary Receipt |
| AED | – United Arab Emirates Dirham |
| AUD | – Australian Dollar |
| CAD | – Canadian Dollar |
| CHF | – Swiss Franc |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| HKD | – Hong Kong Dollar |
| IDR | – Indonesian Rupiah |
| INR | – Indian Rupee |
| JPY | – Japanese Yen |
| KRW | – South Korean Won |
| MXN | – Mexican Peso |
| MYR | – Malaysian Ringgit |
| NOK | – Norwegian Krone |
| NZD | – New Zealand Dollar |
| PHP | – Philippine Peso |
| QAR | – Qatari Riyal |
| SEK | – Swedish Krona |
| SGD | – Singapore Dollar |
| THB | – Thai Baht |
| TWD | – New Taiwan Dollar |
| USD | – United States Dollar |
| ZAR | – South African Rand |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| USD | 42.3% |
| JPY | 11.4 |
| EUR | 9.9 |
| TWD | 8.8 |
| HKD | 6.2 |
| KRW | 3.9 |
| INR | 3.7 |
| SEK | 2.6 |
| GBP | 2.0 |
| CAD | 1.4 |
| ZAR | 1.4 |
| NOK | 0.7 |
| SGD | 0.6 |
| PHP | 0.6 |
| AED | 0.6 |
| AUD | 0.6 |
| CHF | 0.5 |
| QAR | 0.5 |
| MYR | 0.5 |
| THB | 0.5 |
| MXN | 0.5 |
| IDR | 0.4 |
| NZD | 0.4 |
| Total | 100.0% |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common <br> Stocks:<br>|  |  |  |  |
| Brazil | $1988256 | $1988256 | $— | $— |
| Canada | 4977870 | 4977870 |  |  |
| Finland | 10185761 | 5256983 | 4928778 |  |
| Guernsey | 4571706 | 4571706 |  |  |
| India | 19929332 | 7183630 | 12745702 |  |
| Mexico | 1767917 | 1767917 |  |  |
| Netherlands | 9680382 | 3857077 | 5823305 |  |
| New <br> Zealand<br>| 1324084 | 1324084 |  |  |
| Qatar | 1871099 | 1871099 |  |  |
| Russia | —\*\* |  |  | —\*\* |
| South <br> Korea<br>| 15854082 | 2155466 | 13698616 |  |
| Taiwan | 34207110 | 3831280 | 30375830 |  |
| United <br> Arab <br> Emirates<br>| 1933727 | 1933727 |  |  |
| United States | 109133513 | 109133513 |  |  |
| Other <br> Country <br> Categories\*<br>| 120981634 |  | 120981634 |  |
| Money <br> Market <br> Funds<br>| 919061 | 919061 |  |  |
| Repurchase <br> Agreements<br>| 7728835 |  | 7728835 |  |
| Total <br> Investments<br>| $347054369 | $150771669 | $196282700 | $—\*\* |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for country breakout.

\*\* Investment is 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.

------

**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).

See Notes to Financial Statements

------

**First Trust Indxx NextG ETF (NXTG)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Securities Lending Agency Agreement** | **Securities Lending Agency Agreement** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(1)</sup> <br>| $7356170 |
| Non-cash Collateral<sup>(2)</sup> <br>| (7356170)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(1)</sup> 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. 

<sup>(2)</sup> At March 31, 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Repurchase Agreements** | **Repurchase Agreements** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(3)</sup> <br>| $7728835 |
| Non-cash Collateral<sup>(4)</sup> <br>| (7728835)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(3)</sup> The amount is included in "Investments, at value" on the Statements of Assets and Liabilities. 

<sup>(4)</sup> At March 31, 2025, the value of the collateral received from each seller exceeded the value of the repurchase agreements. 

See Notes to Financial Statements

------

**First Trust S-Network Future Vehicles & Technology ETF (CARZ)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 99.5%** | **COMMON STOCKS (a) (b) — 99.5%** | **COMMON STOCKS (a) (b) — 99.5%** |
|  | **Australia — 0.9%** |  |
| 53015 | IGO Ltd. (AUD) (c) | $132196 |
| 118100 | Pilbara Minerals Ltd. <br> (AUD) (c) (d) | 125747 |
|  |  | 257943 |
|  | **Canada — 1.4%** |  |
| 40446 | BlackBerry Ltd. (d) | 152482 |
| 4062 | Magna International, Inc. | 138067 |
| 13168 | Sigma Lithium Corp. (d) | 136947 |
|  |  | 427496 |
|  | **Cayman Islands — 6.8%** |  |
| 2150 | Ambarella, Inc. (d) | 108210 |
| 2014 | Baidu, Inc., ADR (d) | 185348 |
| 91006 | Geely Automobile Holdings Ltd. <br> (HKD) (c) | 195354 |
| 12107 | Hesai Group, ADR (d) | 179184 |
| 348600 | Horizon Robotics, Inc. <br> (HKD) (c) (d) (e) | 302812 |
| 7064 | Li Auto, Inc., ADR (d) | 178013 |
| 37918 | NIO, Inc., ADR (d) (e) | 144468 |
| 48257 | RoboSense Technology Co., Ltd. <br> (HKD) (c) (d) (e) | 241264 |
| 13493 | XPeng, Inc., ADR (d) | 279575 |
| 106673 | Yadea Group Holdings Ltd. <br> (HKD) (c) (f) (g) | 207800 |
|  |  | 2022028 |
|  | **Chile — 0.6%** |  |
| 4196 | Sociedad Quimica y Minera de <br> Chile S.A., ADR (e) | 166707 |
|  | **China — 4.1%** |  |
| 4824 | BYD Co., Ltd., Class H <br> (HKD) (c) | 244270 |
| 62190 | Ganfeng Lithium Group Co., <br> Ltd., Class H <br> (HKD) (c) (e) (f) (g) | 169290 |
| 100004 | Great Wall Motor Co., Ltd., <br> Class H (HKD) (c) | 175381 |
| 416000 | Guangzhou Automobile Group <br> Co., Ltd., Class H (HKD) (c) | 171780 |
| 53985 | Tianqi Lithium Corp., Class H <br> (HKD) (c) (e) | 169409 |
| 41678 | Zhejiang Leapmotor Technology <br> Co., Ltd. (HKD) (c) (d) (f) (g) | 270383 |
|  |  | 1200513 |
|  | **France — 2.9%** |  |
| 19006 | Forvia SE (EUR) (c) | 155963 |
| 2324 | Schneider Electric SE (EUR) (c) | 536486 |
| 17508 | Valeo SE (EUR) (c) | 164374 |
|  |  | 856823 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Germany — 3.1%** |  |
| 2106 | Bayerische Motoren Werke AG <br> (EUR) (c) | $169823 |
| 2496 | Continental AG (EUR) (c) | 176018 |
| 5599 | Infineon Technologies AG <br> (EUR) (c) | 186642 |
| 3237 | Mercedes-Benz Group AG <br> (EUR) (c) | 191216 |
| 2350 | Wacker Chemie AG (EUR) (c) | 194689 |
|  |  | 918388 |
|  | **Ireland — 0.6%** |  |
| 1285 | TE Connectivity PLC | 181596 |
|  | **Japan — 10.0%** |  |
| 15100 | Aisin Corp. (JPY) (c) | 164936 |
| 16400 | Alps Alpine Co., Ltd. (JPY) (c) | 167806 |
| 12000 | Denso Corp. (JPY) (c) | 148879 |
| 3700 | Furukawa Electric Co., Ltd. <br> (JPY) (c) | 125078 |
| 17292 | Honda Motor Co., Ltd. (JPY) (c) | 156485 |
| 8800 | NIDEC CORP. (JPY) (c) | 147684 |
| 57409 | Nissan Motor Co., Ltd. <br> (JPY) (c) (d) | 147236 |
| 16400 | Panasonic Holdings Corp. <br> (JPY) (c) | 195644 |
| 12600 | Renesas Electronics Corp. <br> (JPY) (c) | 168999 |
| 9410 | Subaru Corp. (JPY) (c) | 168525 |
| 77460 | Toyota Motor Corp. (JPY) (c) | 1369284 |
|  |  | 2960556 |
|  | **Jersey — 0.5%** |  |
| 2694 | Aptiv PLC (d) | 160293 |
|  | **Netherlands — 2.5%** |  |
| 562 | Ferrari N.V. (EUR) (c) | 240009 |
| 1092 | NXP Semiconductors N.V. | 207545 |
| 12805 | Stellantis N.V. (EUR) (c) | 143622 |
| 6480 | STMicroelectronics N.V. | 142301 |
|  |  | 733477 |
|  | **South Korea — 8.5%** |  |
| 1818 | Ecopro BM Co., Ltd. <br> (KRW) (c) (d) | 119996 |
| 946 | Hyundai Mobis Co., Ltd. <br> (KRW) (c) | 168345 |
| 1123 | Hyundai Motor Co. (KRW) (c) | 151684 |
| 2316 | Kia Corp. (KRW) (c) | 146484 |
| 961 | LG Chem Ltd. (KRW) (c) | 161606 |
| 1544 | POSCO Future M Co., Ltd. <br> (KRW) (c) | 127534 |
| 38385 | Samsung Electronics Co., Ltd. <br> (KRW) (c) | 1521791 |
| 1001 | Samsung SDI Co., Ltd. <br> (KRW) (c) | 129362 |
|  |  | 2526802 |

---

See Notes to Financial Statements

------

**First Trust S-Network Future Vehicles & Technology ETF (CARZ)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** |
|  | **Sweden — 0.7%** |  |
| 7111 | Volvo AB, Class B (SEK) (c) | $208625 |
|  | **Taiwan — 4.0%** |  |
| 7118 | Taiwan Semiconductor <br> Manufacturing Co., Ltd., ADR | 1181588 |
|  | **United Kingdom — 0.5%** |  |
| 5907 | Sensata Technologies <br> Holding PLC | 143363 |
|  | **United States — 52.4%** |  |
| 12045 | Adeia, Inc. | 159235 |
| 12100 | Advanced Micro Devices, <br> Inc. (d) | 1243154 |
| 1875 | Albemarle Corp. | 135037 |
| 6917 | Allegro MicroSystems, Inc. (d) | 173824 |
| 7601 | Alphabet, Inc., Class A | 1175419 |
| 2130 | Analog Devices, Inc. | 429557 |
| 6074 | Apple, Inc. | 1349218 |
| 20336 | Aurora Innovation, Inc. (d) | 136760 |
| 5194 | BorgWarner, Inc. | 148808 |
| 1557 | Cirrus Logic, Inc. (d) | 155163 |
| 580 | Cummins, Inc. | 181795 |
| 16818 | Ford Motor Co. | 168685 |
| 4723 | General Motors Co. | 222123 |
| 38272 | indie Semiconductor, Inc., <br> Class A (d) (e) | 77884 |
| 18538 | Intel Corp. | 420998 |
| 2935 | Lattice Semiconductor Corp. (d) | 153941 |
| 1765 | Lear Corp. | 155708 |
| 54969 | Lucid Group, Inc. (d) (e) | 133025 |
| 3691 | Marvell Technology, Inc. | 227255 |
| 7975 | MaxLinear, Inc. (d) | 86608 |
| 2905 | Microchip Technology, Inc. | 140631 |
| 4774 | Micron Technology, Inc. | 414813 |
| 3472 | Microsoft Corp. | 1303354 |
| 87597 | Microvast Holdings, Inc. (d) | 102488 |
| 9664 | Mobileye Global, Inc., <br> Class A (d) | 139113 |
| 10522 | NVIDIA Corp. | 1140374 |
| 2809 | ON Semiconductor Corp. (d) | 114298 |
| 13006 | Ouster, Inc. (d) | 116794 |
| 2215 | PACCAR, Inc. | 215675 |
| 61351 | Plug Power, Inc. (d) (e) | 82824 |
| 2241 | Qorvo, Inc. (d) | 162271 |
| 9267 | QUALCOMM, Inc. | 1423504 |
| 2870 | Rambus, Inc. (d) | 148594 |
| 11528 | Rivian Automotive, Inc., <br> Class A (d) (e) | 143524 |
| 1279 | Silicon Laboratories, Inc. (d) | 143977 |
| 702 | SiTime Corp. (d) | 107315 |
| 1768 | Skyworks Solutions, Inc. | 114266 |
| 2084 | Synaptics, Inc. (d) | 132792 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **United States (Continued)** |  |
| 3733 | Tesla, Inc. (d) | $967444 |
| 7692 | Texas Instruments, Inc. | 1382252 |
| 27764 | Wolfspeed, Inc. (d) (e) | 84958 |
|  |  | 15515458 |
|  | **Total Common Stocks** | 29461656 |
|  | (Cost $30,186,127) |  |
| **MONEY MARKET FUNDS — 0.2%** | **MONEY MARKET FUNDS — 0.2%** | **MONEY MARKET FUNDS — 0.2%** |
| 51091 | Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - <br> 4.23% (h) | 51091 |
|  | (Cost $51,091) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Value** |
| **REPURCHASE AGREEMENTS — 4.1%** | **REPURCHASE AGREEMENTS — 4.1%** | **REPURCHASE AGREEMENTS — 4.1%** |
| $214816 | Bank of America Corp., <br> 4.36% (h), dated 03/31/25, <br> due 04/01/25, with a maturity <br> value of $214,842. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 0.00% to <br> 4.38%, due 05/15/34 to <br> 11/15/48. The value of the <br> collateral including accrued <br> interest is $219,112. (i) | 214816 |
| 1000000 | RBC Dominion Securities, Inc., <br> 4.35% (h), dated 03/31/25, <br> due 04/01/25, with a maturity <br> value of $1,000,121. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 0.00% to <br> 4.00%, due 04/15/26 to <br> 02/15/54. The value of the <br> collateral including accrued <br> interest is $1,020,000. (i) | 1000000 |
|  | **Total Repurchase Agreements** | 1214816 |
|  | (Cost $1,214,816) |  |
|  | **Total Investments — 103.8%** | 30727563 |
|  | (Cost $31,452,034) |  |
|  | **Net Other Assets and** <br> **Liabilities — (3.8)%** | (1113024)<br>|
|  | **Net Assets — 100.0%** | $29614539 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

See Notes to Financial Statements

------

**First Trust S-Network Future Vehicles & Technology ETF (CARZ)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 March 31, 2025, securities noted as
 such are valued at $10,260,511 or 34.6% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(e) All
 or a portion of this security is on loan (see Note 2E - 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 $1,171,015 and the total value of the
 collateral held by the Fund, including for securities sold and
 pending settlement, is $1,214,816.

&nbsp;&nbsp;&nbsp;&nbsp;(f) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(g) This
 security may be resold to qualified foreign investors and foreign
 institutional buyers under Regulation S of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(i) This
 security serves as collateral for securities on loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| ADR | – American Depositary Receipt |
| AUD | – Australian Dollar |
| EUR | – Euro |
| HKD | – Hong Kong Dollar |
| JPY | – Japanese Yen |
| KRW | – South Korean Won |
| SEK | – Swedish Krona |
| USD | – United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| USD | 66.6% |
| JPY | 9.6 |
| KRW | 8.2 |
| EUR | 7.0 |
| HKD | 7.0 |
| AUD | 0.9 |
| SEK | 0.7 |
| Total | 100.0% |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks: |  |  |  |  |
| Australia | $257943 | $— | $257943 | $— |
| Cayman Islands | 2022028 | 1074798 | 947230 |  |
| China | 1200513 |  | 1200513 |  |
| France | 856823 |  | 856823 |  |
| Germany | 918388 |  | 918388 |  |
| Japan | 2960556 |  | 2960556 |  |
| Netherlands | 733477 | 349846 | 383631 |  |
| South Korea | 2526802 |  | 2526802 |  |
| Sweden | 208625 |  | 208625 |  |
| Other Country <br> Categories\*<br>| 17776501 | 17776501 |  |  |
| Money Market <br> Funds<br>| 51091 | 51091 |  |  |
| Repurchase <br> Agreements<br>| 1214816 |  | 1214816 |  |
| Total Investments | $30727563 | $19252236 | $11475327 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for country 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Securities Lending Agency Agreement** | **Securities Lending Agency Agreement** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(1)</sup> <br>| $1171015 |
| Non-cash Collateral<sup>(2)</sup> <br>| (1171015)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust S-Network Future Vehicles & Technology ETF (CARZ)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(1)</sup> 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. 

<sup>(2)</sup> At March 31, 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Repurchase Agreements** | **Repurchase Agreements** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(3)</sup> <br>| $1214816 |
| Non-cash Collateral<sup>(4)</sup> <br>| (1214816)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(3)</sup> The amount is included in "Investments, at value" on the Statements of Assets and Liabilities. 

<sup>(4)</sup> At March 31, 2025, the value of the collateral received from each seller exceeded the value of the repurchase agreements. 

See Notes to Financial Statements

------

**First Trust Cloud Computing ETF (SKYY)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** |
|  | **Broadline Retail — 4.1%**  |  |
| 665918 | Amazon.com, Inc. (a) | $126697559 |
|  | **Communications Equipment** <br> **— 6.7%**  |  |
| 1519194 | Arista Networks, Inc. (a) | 117707151 |
| 1469984 | Cisco Systems, Inc. | 90712713 |
|  |  | 208419864 |
|  | **Diversified Telecommunication** <br> **Services — 2.1%**  |  |
| 16707086 | Lumen Technologies, Inc. (a) | 65491777 |
|  | **Financial Services — 0.6%**  |  |
| 610367 | Toast, Inc., Class A (a) | 20245873 |
|  | **Health Care Technology —** <br> **0.8%**  |  |
| 105114 | Veeva Systems, Inc., Class A (a) | 24347556 |
|  | **Interactive Media & Services** <br> **— 4.2%**  |  |
| 830168 | Alphabet, Inc., Class A | 128377180 |
|  | **IT Services — 19.9%**  |  |
| 1168080 | Akamai Technologies, Inc. (a) | 94030440 |
| 648594 | Cloudflare, Inc., Class A (a) | 73090058 |
| 1147187 | DigitalOcean Holdings, Inc. (a) | 38304574 |
| 2516648 | Fastly, Inc., Class A (a) | 15930382 |
| 559979 | International Business Machines <br> Corp. | 139244378 |
| 440492 | MongoDB, Inc. (a) | 77262297 |
| 631076 | Shopify, Inc., Class A (a) | 60255136 |
| 133033 | Snowflake, Inc., Class A (a) | 19444103 |
| 589348 | Twilio, Inc., Class A (a) | 57703063 |
| 234792 | Wix.com Ltd. (a) | 38360317 |
|  |  | 613624748 |
|  | **Media — 0.6%**  |  |
| 335042 | Trade Desk (The), Inc., <br> Class A (a) | 18333498 |
|  | **Professional Services — 1.5%**  |  |
| 107350 | Paycom Software, Inc. | 23453828 |
| 115327 | Paylocity Holding Corp. (a) | 21605360 |
|  |  | 45059188 |
|  | **Software — 49.7%**  |  |
| 161165 | Adobe, Inc. (a) | 61811612 |
| 109838 | Appfolio, Inc., Class A (a) | 24153376 |
| 802883 | Appian Corp., Class A (a) | 23131059 |
| 216984 | AppLovin Corp., Class A (a) | 57494250 |
| 1223905 | Asana, Inc., Class A (a) | 17832296 |
| 248647 | Atlassian Corp., Class A (a) | 52765380 |
| 356432 | Blackbaud, Inc. (a) | 22116606 |
| 487788 | BlackLine, Inc. (a) | 23618695 |
| 720494 | Box, Inc., Class A (a) | 22234445 |
| 2226858 | Confluent, Inc., Class A (a) | 52197551 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Software (Continued)**  |  |
| 60463 | CrowdStrike Holdings, Inc., <br> Class A (a) | $21318045 |
| 202146 | Datadog, Inc., Class A (a) | 20054905 |
| 283277 | Docusign, Inc. (a) | 23058748 |
| 906858 | Dropbox, Inc., Class A (a) | 24222177 |
| 202476 | Elastic N.V. (a) | 18040612 |
| 1295024 | Five9, Inc. (a) | 35159902 |
| 1173899 | Gitlab, Inc., Class A (a) | 55173253 |
| 97626 | HubSpot, Inc. (a) | 55772757 |
| 38382 | Intuit, Inc. | 23566164 |
| 599190 | Klaviyo, Inc., Class A (a) | 18131489 |
| 356082 | Microsoft Corp. | 133669622 |
| 1838483 | Nutanix, Inc., Class A (a) | 128344498 |
| 912477 | Open Text Corp. | 23049169 |
| 851264 | Oracle Corp. | 119015220 |
| 123721 | Palo Alto Networks, Inc. (a) | 21111751 |
| 269660 | Q2 Holdings, Inc. (a) | 21575497 |
| 179219 | Qualys, Inc. (a) | 22569049 |
| 1170871 | RingCentral, Inc., Class A (a) | 28990766 |
| 1085388 | Rubrik, Inc., Class A (a) | 66186960 |
| 237302 | Salesforce, Inc. | 63682365 |
| 171347 | SAP SE, ADR (b) | 45996389 |
| 76020 | ServiceNow, Inc. (a) | 60522563 |
| 886964 | Sprout Social, Inc., Class A (a) | 19504338 |
| 89467 | Workday, Inc., Class A (a) | 20893228 |
| 807592 | Workiva, Inc. (a) | 61304309 |
| 319677 | Zoom Communications, Inc. (a) | 23582572 |
| 120064 | Zscaler, Inc. (a) | 23823099 |
|  |  | 1535674717 |
|  | **Technology Hardware, Storage** <br> **& Peripherals — 9.7%**  |  |
| 687821 | Dell Technologies, Inc., Class C | 62694884 |
| 3567920 | Hewlett Packard Enterprise Co. | 55053006 |
| 708150 | NetApp, Inc. | 62203896 |
| 2694130 | Pure Storage, Inc., Class A (a) | 119269135 |
|  |  | 299220921 |
|  | **Total Common Stocks** | 3085492881 |
|  | (Cost $2,690,653,866) |  |
| **MONEY MARKET FUNDS — 0.1%** | **MONEY MARKET FUNDS — 0.1%** | **MONEY MARKET FUNDS — 0.1%** |
| 2673728 | Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - <br> 4.23% (c) | 2673728 |
|  | (Cost $2,673,728) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust Cloud Computing ETF (SKYY)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Value** |
| **REPURCHASE AGREEMENTS — 0.2%** | **REPURCHASE AGREEMENTS — 0.2%** | **REPURCHASE AGREEMENTS — 0.2%** |
| $2331440 | Bank of America Corp., <br> 4.36% (c), dated 03/31/25, due <br> 04/01/25, with a maturity <br> value of $2,331,722. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 0.00% to <br> 4.38%, due 05/15/34 to <br> 11/15/48. The value of the <br> collateral including accrued <br> interest is $2,378,069. (d) | $2331440 |
| 2426599 | RBC Dominion Securities, Inc., <br> 4.35% (c), dated 03/31/25, due <br> 04/01/25, with a maturity <br> value of $2,426,892. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 0.00% to <br> 4.00%, due 04/15/26 to <br> 02/15/54. The value of the <br> collateral including accrued <br> interest is $2,475,131. (d) | 2426599 |
|  | **Total Repurchase Agreements** | 4758039 |
|  | (Cost $4,758,039) |  |
|  | **Total Investments — 100.2%** | 3092924648 |
|  | (Cost $2,698,085,633) |  |
|  | **Net Other Assets and** <br> **Liabilities — (0.2)%** | (5336069)<br>|
|  | **Net Assets — 100.0%** | $3087588579 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(b) All
 or a portion of this security is on loan (see Note 2E - 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 $4,636,227 and the total value of the
 collateral held by the Fund, including for securities sold and
 pending settlement, is $4,758,039.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(d) This
 security serves as collateral for securities on loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations throughout the Portfolio of Investments: <br> ADR – American Depositary Receipt

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common <br> Stocks\*<br>| $3085492881 | $3085492881 | $— | $— |
| Money Market <br> Funds<br>| 2673728 | 2673728 |  |  |
| Repurchase <br> Agreements<br>| 4758039 |  | 4758039 |  |
| Total <br> Investments<br>| $3092924648 | $3088166609 | $4758039 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Securities Lending Agency Agreement** | **Securities Lending Agency Agreement** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(1)</sup> <br>| $4636227 |
| Non-cash Collateral<sup>(2)</sup> <br>| (4636227)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(1)</sup> 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. 

<sup>(2)</sup> At March 31, 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. 

See Notes to Financial Statements

------

**First Trust Cloud Computing ETF (SKYY)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Repurchase Agreements** | **Repurchase Agreements** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(3)</sup> <br>| $4758039 |
| Non-cash Collateral<sup>(4)</sup> <br>| (4758039)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(3)</sup> The amount is included in "Investments, at value" on the Statements of Assets and Liabilities. 

<sup>(4)</sup> At March 31, 2025, the value of the collateral received from each seller exceeded the value of the repurchase agreements. 

See Notes to Financial Statements

------

**First Trust International Equity Opportunities ETF (FPXI)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 99.9%** | **COMMON STOCKS (a) (b) — 99.9%** | **COMMON STOCKS (a) (b) — 99.9%** |
|  | **Belgium — 3.1%** |  |
| 28013 | Solvay S.A. (EUR) (c) | $996474 |
| 17155 | UCB S.A. (EUR) (c) | 3020401 |
|  |  | 4016875 |
|  | **Brazil — 5.3%** |  |
| 2645863 | Caixa Seguridade Participacoes <br> S.A. (BRL) | 6913198 |
|  | **Canada — 10.9%** |  |
| 44357 | Agnico Eagle Mines Ltd. | 4808742 |
| 1355 | Constellation Software, Inc. <br> (CAD) | 4291190 |
| 20433 | Definity Financial Corp. (CAD) | 907881 |
| 32294 | MDA Space Ltd. (CAD) (d) | 616908 |
| 24449 | RB Global, Inc. | 2452235 |
| 53188 | Triple Flag Precious Metals <br> Corp. | 1018550 |
|  |  | 14095506 |
|  | **Cayman Islands — 17.6%** |  |
| 73344 | Alibaba Group Holding Ltd., <br> ADR | 9698277 |
| 36635 | Amer Sports, Inc. (d) | 979254 |
| 885000 | Country Garden Services <br> Holdings Co., Ltd. (HKD) (c) | 787187 |
| 92230 | Full Truck Alliance Co., Ltd., <br> ADR | 1177777 |
| 236796 | Pop Mart International Group <br> Ltd. (HKD) (c) (e) (f) | 4785819 |
| 85209 | Trip.com Group Ltd., ADR | 5417588 |
|  |  | 22845902 |
|  | **Chile — 0.6%** |  |
| 26654 | Latam Airlines Group S.A., <br> ADR (d) | 833737 |
|  | **China — 1.2%** |  |
| 40200 | Sichuan Kelun-Biotech <br> Biopharmaceutical Co., Ltd. <br> (HKD) (c) (d) | 1511622 |
|  | **Finland — 2.0%** |  |
| 494410 | Nokia Oyj, ADR | 2605541 |
|  | **Germany — 4.4%** |  |
| 38426 | Auto1 Group SE <br> (EUR) (c) (d) (e) (f) | 854807 |
| 10187 | Hensoldt AG (EUR) (c) | 683744 |
| 70495 | Siemens Energy AG <br> (EUR) (c) (d) | 4179099 |
|  |  | 5717650 |
|  | **Ireland — 2.5%** |  |
| 37384 | CRH PLC | 3288670 |
|  | **Israel — 0.8%** |  |
| 4315 | Monday.com Ltd. (d) | 1049235 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Italy — 0.7%** |  |
| 44385 | Lottomatica Group S.p.A. <br> (EUR) (c) | $895990 |
|  | **Japan — 9.9%** |  |
| 64200 | Advantest Corp. (JPY) (c) | 2861811 |
| 47500 | Kioxia Holdings Corp. <br> (JPY) (c) (d) | 778695 |
| 30800 | Rakuten Bank Ltd. (JPY) (c) (d) | 1339320 |
| 26600 | SBI Sumishin Net Bank Ltd. <br> (JPY) (c) | 731524 |
| 2209170 | SoftBank Corp. (JPY) (c) | 3081738 |
| 87400 | Sompo Holdings, Inc. <br> (JPY) (c) (g) | 2661434 |
| 115300 | Tokyo Metro Co., Ltd. <br> (JPY) (c) (g) | 1401138 |
|  |  | 12855660 |
|  | **Luxembourg — 6.6%** |  |
| 15617 | Spotify Technology S.A. (d) | 8589819 |
|  | **Netherlands — 0.8%** |  |
| 31464 | Technip Energies N.V. <br> (EUR) (c) | 1026592 |
|  | **Norway — 4.4%** |  |
| 44098 | Gjensidige Forsikring ASA <br> (NOK) (c) | 1014889 |
| 176643 | Orkla ASA (NOK) (c) | 1937154 |
| 66227 | SpareBank 1 Sor-Norge ASA <br> (NOK) (c) | 1069247 |
| 120682 | Telenor ASA (NOK) (c) | 1724422 |
|  |  | 5745712 |
|  | **Saudi Arabia — 2.0%** |  |
| 21167 | Arabian Internet & <br> Communications Services Co. <br> (SAR) (c) | 1705054 |
| 26459 | Riyadh Cables Group Co. <br> (SAR) (c) | 894434 |
|  |  | 2599488 |
|  | **South Korea — 3.7%** |  |
| 21126 | Krafton, Inc. (KRW) (c) (d) | 4831307 |
|  | **Sweden — 4.7%** |  |
| 155796 | Nordnet AB publ (SEK) (c) | 3622803 |
| 184211 | Tele2 AB, Class B (SEK) (c) | 2481910 |
|  |  | 6104713 |
|  | **Switzerland — 4.5%** |  |
| 47584 | On Holding AG, Class A (d) | 2089889 |
| 38806 | Sandoz Group AG (CHF) (c) | 1627292 |
| 97943 | Sportradar Group AG, <br> Class A (d) | 2117528 |
|  |  | 5834709 |
|  | **United Arab Emirates — 1.5%** |  |
| 1411127 | ADNOC Drilling Co. PJSC <br> (AED) | 1974733 |

---

See Notes to Financial Statements

------

**First Trust International Equity Opportunities ETF (FPXI)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** |
|  | **United Kingdom — 8.4%** |  |
| 64885 | ARM Holdings PLC, ADR (d) | $6929069 |
| 598901 | Haleon PLC (GBP) (c) | 3024589 |
| 14302 | Verona Pharma PLC, ADR (d) | 908034 |
|  |  | 10861692 |
|  | **United States — 4.3%** |  |
| 207784 | Gen Digital, Inc. | 5514587 |
|  | **Total Common Stocks** | 129712938 |
|  | (Cost $115,013,793) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Value** |
| **REPURCHASE AGREEMENTS — 2.0%** | **REPURCHASE AGREEMENTS — 2.0%** | **REPURCHASE AGREEMENTS — 2.0%** |
| $1289797 | Bank of America Corp., <br> 4.36% (h), dated 03/31/25, <br> due 04/01/25, with a maturity <br> value of $1,289,953. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 0.00% to <br> 4.38%, due 05/15/34 to <br> 11/15/48. The value of the <br> collateral including accrued <br> interest is $1,315,593. (i) | 1289797 |
| 1342441 | RBC Dominion Securities, Inc., <br> 4.35% (h), dated 03/31/25, <br> due 04/01/25, with a maturity <br> value of $1,342,603. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 0.00% to <br> 4.00%, due 04/15/26 to <br> 02/15/54. The value of the <br> collateral including accrued <br> interest is $1,369,290. (i) | 1342441 |
|  | **Total Repurchase Agreements** | 2632238 |
|  | (Cost $2,632,238) |  |
|  | **Total Investments — 101.9%** | 132345176 |
|  | (Cost $117,646,031) |  |
|  | **Net Other Assets and** <br> **Liabilities — (1.9)%** | (2417027)<br>|
|  | **Net Assets — 100.0%** | $129928149 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 March 31, 2025, securities noted as
 such are valued at $55,530,496 or 42.7% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(e) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(f) This
 security may be resold to qualified foreign investors and foreign
 institutional buyers under Regulation S of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;(g) All
 or a portion of this security is on loan (see Note 2E - 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 $2,522,817 and the total value of the
 collateral held by the Fund, including for securities sold and
 pending settlement, is $2,632,238.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(i) This
 security serves as collateral for securities on loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| ADR | – American Depositary Receipt |
| AED | – United Arab Emirates Dirham |
| BRL | – Brazilian Real |
| CAD | – Canadian Dollar |
| CHF | – Swiss Franc |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| HKD | – Hong Kong Dollar |
| JPY | – Japanese Yen |
| KRW | – South Korean Won |
| NOK | – Norwegian Krone |
| SAR | – Saudi Riyal |
| SEK | – Swedish Krona |
| USD | – United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust International Equity Opportunities ETF (FPXI)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| USD | 46.9% |
| JPY | 9.7 |
| EUR | 8.8 |
| HKD | 5.4 |
| BRL | 5.2 |
| SEK | 4.6 |
| CAD | 4.4 |
| NOK | 4.3 |
| KRW | 3.7 |
| GBP | 2.3 |
| SAR | 2.0 |
| AED | 1.5 |
| CHF | 1.2 |
| Total | 100.0% |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks: |  |  |  |  |
| Brazil | $6913198 | $6913198 | $— | $— |
| Canada | 14095506 | 14095506 |  |  |
| Cayman Islands | 22845902 | 17272896 | 5573006 |  |
| Chile | 833737 | 833737 |  |  |
| Finland | 2605541 | 2605541 |  |  |
| Ireland | 3288670 | 3288670 |  |  |
| Israel | 1049235 | 1049235 |  |  |
| Luxembourg | 8589819 | 8589819 |  |  |
| Switzerland | 5834709 | 4207417 | 1627292 |  |
| United Arab <br> Emirates<br>| 1974733 | 1974733 |  |  |
| United Kingdom | 10861692 | 7837103 | 3024589 |  |
| United States | 5514587 | 5514587 |  |  |
| Other Country <br> Categories\*<br>| 45305609 |  | 45305609 |  |
| Repurchase <br> Agreements<br>| 2632238 |  | 2632238 |  |
| Total Investments | $132345176 | $74182442 | $58162734 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for country 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Securities Lending Agency Agreement** | **Securities Lending Agency Agreement** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(1)</sup> <br>| $2522817 |
| Non-cash Collateral<sup>(2)</sup> <br>| (2522817)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(1)</sup> 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. 

<sup>(2)</sup> At March 31, 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Repurchase Agreements** | **Repurchase Agreements** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(3)</sup> <br>| $2632238 |
| Non-cash Collateral<sup>(4)</sup> <br>| (2632238)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(3)</sup> The amount is included in "Investments, at value" on the Statements of Assets and Liabilities. 

<sup>(4)</sup> At March 31, 2025, the value of the collateral received from each seller exceeded the value of the repurchase agreements. 

See Notes to Financial Statements

------

**First Trust Nasdaq Cybersecurity ETF (CIBR)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 99.9%** | **COMMON STOCKS (a) (b) — 99.9%** | **COMMON STOCKS (a) (b) — 99.9%** |
|  | **Canada — 2.4%** |  |
| 12304724 | BlackBerry Ltd. (c) (d) | $46388809 |
| 5550717 | Open Text Corp. (CAD) | 140093841 |
|  |  | 186482650 |
|  | **France — 5.6%** |  |
| 1648922 | Thales S.A. (EUR) (e) | 438320179 |
|  | **India — 7.6%** |  |
| 32701982 | Infosys Ltd., ADR (d) | 596811172 |
|  | **Israel — 8.4%** |  |
| 1492119 | Check Point Software <br> Technologies Ltd. (c) | 340083762 |
| 903251 | CyberArk Software Ltd. (c) | 305298838 |
| 951785 | Radware Ltd. (c) | 20577592 |
|  |  | 665960192 |
|  | **Japan — 2.5%** |  |
| 2900573 | Trend Micro, Inc. (JPY) (e) | 195811855 |
|  | **United Kingdom — 0.3%** |  |
| 12544085 | NCC Group PLC (GBP) (e) | 22571251 |
|  | **United States — 73.1%** |  |
| 1404416 | A10 Networks, Inc. | 22948157 |
| 3160510 | Akamai Technologies, Inc. (c) | 254421055 |
| 2548268 | Booz Allen Hamilton Holding <br> Corp. | 266497867 |
| 3295948 | Broadcom, Inc. | 551840574 |
| 10252858 | Cisco Systems, Inc. | 632703867 |
| 2261901 | Cloudflare, Inc., Class A (c) | 254893624 |
| 1686880 | CrowdStrike Holdings, Inc., <br> Class A (c) | 594760150 |
| 1094854 | F5, Inc. (c) | 291526775 |
| 3042837 | Fortinet, Inc. (c) | 292903490 |
| 11982693 | Gen Digital, Inc. | 318020672 |
| 2528704 | Leidos Holdings, Inc. | 341223318 |
| 1378907 | NetScout Systems, Inc. (c) | 28970836 |
| 3373958 | Okta, Inc. (c) | 355007861 |
| 1284079 | OneSpan, Inc. | 19582205 |
| 3451705 | Palo Alto Networks, Inc. (c) | 588998941 |
| 717474 | Qualys, Inc. (c) | 90351501 |
| 1214811 | Rapid7, Inc. (c) | 32204640 |
| 1437524 | Rubrik, Inc., Class A (c) | 87660213 |
| 1005636 | Science Applications <br> International Corp. | 112902754 |
| 6337597 | SentinelOne, Inc., Class A (c) | 115217513 |
| 2230218 | Tenable Holdings, Inc. (c) | 78013026 |
| 2315548 | Varonis Systems, Inc. (c) | 93663917 |
| 1674837 | Zscaler, Inc. (c) | 332321157 |
|  |  | 5756634113 |
|  | **Total Common Stocks** | 7862591412 |
|  | (Cost $6,062,685,790) |  |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 0.2%** | **MONEY MARKET FUNDS — 0.2%** | **MONEY MARKET FUNDS — 0.2%** |
| 15448422 | Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - <br> 4.23% (f) | $15448422 |
|  | (Cost $15,448,422) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Value** |
| **REPURCHASE AGREEMENTS — 0.5%** | **REPURCHASE AGREEMENTS — 0.5%** | **REPURCHASE AGREEMENTS — 0.5%** |
| $20181112 | JPMorgan Chase & Co., <br> 4.36% (f), dated 03/31/25, due <br> 04/01/25, with a maturity <br> value of $20,183,556. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 2.38% to <br> 4.63%, due 02/15/42 to <br> 02/15/55. The value of the <br> collateral including accrued <br> interest is $20,584,735. (g) | 20181112 |
| 21004831 | RBC Dominion Securities, Inc., <br> 4.35% (f), dated 03/31/25, due <br> 04/01/25, with a maturity <br> value of $21,007,369. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 0.00% to <br> 4.00%, due 04/15/26 to <br> 02/15/54. The value of the <br> collateral including accrued <br> interest is $21,424,928. (g) | 21004831 |
|  | **Total Repurchase Agreements** | 41185943 |
|  | (Cost $41,185,943) |  |
|  | **Total Investments — 100.6%** | 7919225777 |
|  | (Cost $6,119,320,155) |  |
|  | **Net Other Assets and** <br> **Liabilities — (0.6)%** | (44022539)<br>|
|  | **Net Assets — 100.0%** | $7875203238 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(d) All
 or a portion of this security is on loan (see Note 2E - 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 $39,428,655 and the total value of the
 collateral held by the Fund, including for securities sold and
 pending settlement, is $41,185,943.

See Notes to Financial Statements

------

**First Trust Nasdaq Cybersecurity ETF (CIBR)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(e) 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 March 31, 2025, securities noted as
 such are valued at $656,703,285 or 8.3% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(g) This
 security serves as collateral for securities on loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| ADR | – American Depositary Receipt |
| CAD | – Canadian Dollar |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| JPY | – Japanese Yen |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common <br> Stocks:<br>|  |  |  |  |
| France | $438320179 | $— | $438320179 | $— |
| Japan | 195811855 |  | 195811855 |  |
| United <br> Kingdom<br>| 22571251 |  | 22571251 |  |
| Other <br> Country <br> Categories\*<br>| 7205888127 | 7205888127 |  |  |
| Money <br> Market <br> Funds<br>| 15448422 | 15448422 |  |  |
| Repurchase <br> Agreements<br>| 41185943 |  | 41185943 |  |
| Total <br> Investments<br>| $7919225777 | $7221336549 | $697889228 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for country 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Securities Lending Agency Agreement** | **Securities Lending Agency Agreement** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(1)</sup> <br>| $39428655 |
| Non-cash Collateral<sup>(2)</sup> <br>| (39428655)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(1)</sup> 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. 

<sup>(2)</sup> At March 31, 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Repurchase Agreements** | **Repurchase Agreements** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(3)</sup> <br>| $41185943 |
| Non-cash Collateral<sup>(4)</sup> <br>| (41185943)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(3)</sup> The amount is included in "Investments, at value" on the Statements of Assets and Liabilities. 

<sup>(4)</sup> At March 31, 2025, the value of the collateral received from each seller exceeded the value of the repurchase agreements. 

See Notes to Financial Statements

------

**First Trust IPOX**<sup>®</sup> **Europe Equity Opportunities ETF (FPXE)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 99.8%** | **COMMON STOCKS (a) (b) — 99.8%** | **COMMON STOCKS (a) (b) — 99.8%** |
|  | **Austria — 1.0%** |  |
| 370 | BAWAG Group AG <br> (EUR) (c) (d) (e) | $38171 |
|  | **Belgium — 4.8%** |  |
| 2494 | Solvay S.A. (EUR) (e) | 88716 |
| 247 | Syensqo S.A. (EUR) (e) | 16856 |
| 458 | UCB S.A. (EUR) (e) | 80638 |
|  |  | 186210 |
|  | **Bermuda — 1.6%** |  |
| 541 | International General Insurance <br> Holdings Ltd. | 14234 |
| 273 | SiriusPoint Ltd. (f) | 4720 |
| 1043 | Viking Holdings Ltd. (f) | 41459 |
|  |  | 60413 |
|  | **Cayman Islands — 0.9%** |  |
| 1304 | Amer Sports, Inc. (f) | 34856 |
|  | **Cyprus — 0.1%** |  |
| 1795 | HeadHunter Group PLC, <br> ADR (e) (f) (g) (h) | 0 |
| 165 | Theon International PLC <br> (EUR) (e) | 4256 |
|  |  | 4256 |
|  | **Denmark — 0.3%** |  |
| 2345 | H. Lundbeck A/S (DKK) (e) | 11814 |
|  | **Finland — 4.7%** |  |
| 11840 | Mandatum Oyj (EUR) (e) | 71757 |
| 13203 | Nokia Oyj (EUR) (e) | 69538 |
| 2995 | Puuilo Oyj (EUR) (e) | 36863 |
| 279 | TietoEVRY Oyj (EUR) (e) | 4834 |
|  |  | 182992 |
|  | **France — 3.4%** |  |
| 2336 | Canal+ SA (GBP) (e) (f) | 5566 |
| 999 | Cie de Saint-Gobain S.A. <br> (EUR) (e) | 99518 |
| 120 | Exosens SAS (EUR) (e) (f) | 4360 |
| 2336 | Louis Hachette Group <br> (EUR) (e) (f) | 3523 |
| 165 | Planisware S.A. (EUR) (e) (f) | 4166 |
| 141 | Teleperformance SE (EUR) (e) | 14178 |
|  |  | 131311 |
|  | **Germany — 12.6%** |  |
| 1539 | Auto1 Group SE <br> (EUR) (c) (d) (e) (f) | 34236 |
| 1865 | Daimler Truck Holding AG <br> (EUR) (e) | 75551 |
| 1609 | Dr. Ing hc F Porsche AG <br> (Preference Shares) <br> (EUR) (c) (d) (e) | 80584 |
| 544 | Hensoldt AG (EUR) (e) | 36513 |
| 3297 | IONOS Group SE (EUR) (e) (f) | 91793 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Germany (Continued)** |  |
| 236 | RENK Group AG (EUR) (e) | $11424 |
| 1883 | Siemens Energy AG <br> (EUR) (e) (f) | 111628 |
| 400 | TeamViewer SE <br> (EUR) (c) (d) (e) (f) | 5222 |
| 1178 | Traton SE (EUR) (e) | 39896 |
|  |  | 486847 |
|  | **Greece — 1.3%** |  |
| 707 | Athens International Airport <br> S.A. (EUR) (e) | 6961 |
| 2606 | Optima bank S.A. (EUR) | 43283 |
|  |  | 50244 |
|  | **Guernsey — 1.3%** |  |
| 4259 | Genius Sports Ltd. (f) | 42632 |
| 1181 | Super Group SGHC Ltd. | 7606 |
|  |  | 50238 |
|  | **Ireland — 2.4%** |  |
| 1038 | CRH PLC | 91313 |
| 224 | Dole PLC | 3237 |
|  |  | 94550 |
|  | **Israel — 3.1%** |  |
| 1451 | Cellebrite DI Ltd. (f) | 28193 |
| 346 | Monday.com Ltd. (f) | 84133 |
| 131 | Oddity Tech Ltd., Class A (f) | 5667 |
|  |  | 117993 |
|  | **Italy — 5.0%** |  |
| 7137 | Banco BPM S.p.A. (EUR) (e) | 72627 |
| 5927 | Lottomatica Group S.p.A. <br> (EUR) (e) | 119647 |
|  |  | 192274 |
|  | **Jersey — 1.8%** |  |
| 332 | Birkenstock Holding PLC (f) | 15222 |
| 2504 | CVC Capital Partners PLC <br> (EUR) (c) (d) (e) (f) | 49675 |
| 397 | JTC PLC (GBP) (c) (d) (e) | 4683 |
|  |  | 69580 |
|  | **Luxembourg — 4.9%** |  |
| 249 | Spotify Technology S.A. (f) | 136958 |
| 9421 | Zabka Group S.A. (PLN) (e) (f) | 50470 |
|  |  | 187428 |
|  | **Netherlands — 7.3%** |  |
| 1115 | CTP N.V. (EUR) (c) (d) | 19966 |
| 814 | Iveco Group N.V. (EUR) (e) | 13380 |
| 814 | Merus N.V. (f) | 34261 |
| 259 | Newamsterdam Pharma Co. <br> N.V. (f) | 5302 |
| 290 | Playa Hotels & Resorts N.V. (f) | 3866 |
| 495 | Pluxee N.V. (EUR) (e) | 10107 |

---

See Notes to Financial Statements

------

**First Trust IPOX**<sup>®</sup> **Europe Equity Opportunities ETF (FPXE)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** |
|  | **Netherlands (Continued)** |  |
| 4201 | Technip Energies N.V. <br> (EUR) (e) | $137068 |
| 2154 | Universal Music Group N.V. <br> (EUR) (e) | 59478 |
|  |  | 283428 |
|  | **Norway — 5.6%** |  |
| 580 | DOF Group ASA (NOK) (e) (f) | 5159 |
| 1178 | Gjensidige Forsikring ASA <br> (NOK) (e) | 27111 |
| 5850 | Norconsult Norge A/S (NOK) | 24522 |
| 7076 | Orkla ASA (NOK) (e) | 77599 |
| 482 | SATS ASA (NOK) (e) (f) | 1536 |
| 884 | SpareBank 1 Sor-Norge ASA <br> (NOK) (e) | 14272 |
| 3223 | Telenor ASA (NOK) (e) | 46053 |
| 5880 | Var Energi ASA (NOK) (e) | 18912 |
|  |  | 215164 |
|  | **Spain — 2.2%** |  |
| 25379 | Banco de Sabadell S.A. <br> (EUR) (e) | 71256 |
| 765 | Corp ACCIONA Energias <br> Renovables S.A. (EUR) (e) | 14053 |
|  |  | 85309 |
|  | **Sweden — 11.6%** |  |
| 5318 | Alleima AB (SEK) (e) | 44544 |
| 2486 | EQT AB (SEK) (e) | 75806 |
| 1365 | Hemnet Group AB (SEK) (e) | 45273 |
| 111 | Mildef Group AB (SEK) (e) | 2304 |
| 5944 | Nordnet AB publ (SEK) (e) | 138219 |
| 29 | Roko AB (SEK) (f) | 5770 |
| 2531 | Rusta AB (SEK) (e) | 16631 |
| 516 | Scandic Hotels Group AB <br> (SEK) (c) (d) (e) | 3825 |
| 3973 | Storskogen Group AB, Class B <br> (SEK) (e) | 5167 |
| 838 | Swedish Orphan Biovitrum AB <br> (SEK) (e) (f) | 24014 |
| 4509 | Tele2 AB, Class B (SEK) (e) | 60750 |
| 2495 | Truecaller AB, Class B <br> (SEK) (e) | 16925 |
| 1232 | Vimian Group AB (SEK) (e) (f) | 5223 |
| 203 | Yubico AB (SEK) (e) (f) | 3673 |
|  |  | 448124 |
|  | **Switzerland — 7.4%** |  |
| 1113 | Accelleron Industries AG <br> (CHF) (e) | 51606 |
| 560 | Galderma Group AG (CHF) (f) | 59228 |
| 1495 | On Holding AG, Class A (f) | 65660 |
| 1036 | Sandoz Group AG (CHF) (e) | 43444 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Switzerland (Continued)** |  |
| 2616 | Sportradar Group AG, <br> Class A (f) | $56558 |
| 225 | Sunrise Communications AG, <br> Class A (CHF) (e) (f) | 10921 |
|  |  | 287417 |
|  | **United Kingdom — 11.5%** |  |
| 1926 | AJ Bell PLC (GBP) (e) | 10093 |
| 1438 | Allfunds Group PLC (EUR) (e) | 8277 |
| 1238 | ARM Holdings PLC, ADR (f) (i) | 132206 |
| 3422 | Baltic Classifieds Group PLC <br> (GBP) (e) | 13319 |
| 1941 | Bridgepoint Group PLC <br> (GBP) (c) (d) | 8048 |
| 3105 | Centessa Pharmaceuticals PLC, <br> ADR (f) | 44650 |
| 1532 | Finablr PLC <br> (GBP) (c) (e) (f) (g) (h) | 0 |
| 21325 | Haleon PLC (GBP) (e) | 107696 |
| 582 | HBX Group International PLC <br> (EUR) (f) | 6268 |
| 3895 | Ithaca Energy PLC (GBP) (e) | 8010 |
| 2446 | Just Group PLC (GBP) | 4645 |
| 166 | Marex Group PLC | 5863 |
| 2548 | Petershill Partners PLC <br> (GBP) (c) (d) (e) | 7837 |
| 4970 | Polestar Automotive Holding <br> UK PLC, Class A, ADR (f) | 5219 |
| 456 | Raspberry PI Holdings PLC <br> (GBP) (e) (f) (i) | 2763 |
| 955 | Verona Pharma PLC, ADR (f) | 60633 |
| 1677 | Wise PLC, Class A (GBP) (e) (f) | 20585 |
|  |  | 446112 |
|  | **United States — 5.0%** |  |
| 7258 | Gen Digital, Inc. | 192627 |
|  | **Total Common Stocks** | 3857358 |
|  | (Cost $3,296,875) |  |
| **MONEY MARKET FUNDS — 0.0%** | **MONEY MARKET FUNDS — 0.0%** | **MONEY MARKET FUNDS — 0.0%** |
| 1155 | Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - 4.23% (j) | 1155 |
|  | (Cost $1,155) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust IPOX**<sup>®</sup> **Europe Equity Opportunities ETF (FPXE)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Value** |
| **REPURCHASE AGREEMENTS — 1.5%** | **REPURCHASE AGREEMENTS — 1.5%** | **REPURCHASE AGREEMENTS — 1.5%** |
| $55635 | JPMorgan Chase & Co., <br> 4.36% (j), dated 03/31/25, due <br> 04/01/25, with a maturity <br> value of $55,642. <br> Collateralized by <br> U.S. Treasury Securities, <br> interest rates of 2.38% to <br> 4.63%, due 02/15/42 to <br> 02/15/55. The value of the <br> collateral including accrued <br> interest is $56,748. (k) | $55635 |
|  | (Cost $55,635) |  |
|  | **Total Investments — 101.3%** | 3914148 |
|  | (Cost $3,353,665) |  |
|  | **Net Other Assets and** <br> **Liabilities — (1.3)%** | (50929)<br>|
|  | **Net Assets — 100.0%** | $3863219 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(d) This
 security may be resold to qualified foreign investors and foreign
 institutional buyers under Regulation S of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;(e) 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 March 31, 2025, securities noted as
 such are valued at $2,568,553 or 66.5% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(g) 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.

&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(h) This
 security's value was determined using significant unobservable
 inputs (see Note 2A - Portfolio Valuation in the Notes
 to Financial Statements).

&nbsp;&nbsp;&nbsp;&nbsp;(i) All
 or a portion of this security is on loan (see Note 2E - 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 $53,418 and the total value of the collateral
 held by the Fund, including for securities sold and pending
 settlement, is $55,635.

&nbsp;&nbsp;&nbsp;&nbsp;(j) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(k) This
 security serves as collateral for securities on loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| ADR | – American Depositary Receipt |
| CHF | – Swiss Franc |
| DKK | – Danish Krone |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| NOK | – Norwegian Krone |
| PLN | – Polish Zloty |
| SEK | – Swedish Krona |
| USD | – United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| EUR | 42.3% |
| USD | 30.0 |
| SEK | 11.5 |
| NOK | 5.5 |
| GBP | 4.9 |
| CHF | 4.2 |
| PLN | 1.3 |
| DKK | 0.3 |
| Total | 100.0% |

---

See Notes to Financial Statements

------

**First Trust IPOX**<sup>®</sup> **Europe Equity Opportunities ETF (FPXE)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks: |  |  |  |  |
| Bermuda | $60413 | $60413 | $— | $— |
| Cayman Islands | 34856 | 34856 |  |  |
| Cyprus | 4256 |  | 4256 | —\*\* |
| Greece | 50244 | 43283 | 6961 |  |
| Guernsey | 50238 | 50238 |  |  |
| Ireland | 94550 | 94550 |  |  |
| Israel | 117993 | 117993 |  |  |
| Jersey | 69580 | 15222 | 54358 |  |
| Luxembourg | 187428 | 136958 | 50470 |  |
| Netherlands | 283428 | 63395 | 220033 |  |
| Norway | 215164 | 24522 | 190642 |  |
| Sweden | 448124 | 5770 | 442354 |  |
| Switzerland | 287417 | 181446 | 105971 |  |
| United Kingdom | 446112 | 267532 | 178580 | —\*\* |
| United States | 192627 | 192627 |  |  |
| Other Country <br> Categories\*<br>| 1314928 |  | 1314928 |  |
| Money Market Funds | 1155 | 1155 |  |  |
| Repurchase Agreements | 55635 |  | 55635 |  |
| Total Investments | $3914148 | $1289960 | $2624188 | $—\*\* |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* 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.

------

**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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Securities Lending Agency Agreement** | **Securities Lending Agency Agreement** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(1)</sup> <br>| $53418 |
| Non-cash Collateral<sup>(2)</sup> <br>| (53418)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(1)</sup> 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. 

<sup>(2)</sup> At March 31, 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Repurchase Agreements** | **Repurchase Agreements** |
| Total gross amount presented on the Statements <br> of Assets and Liabilities<sup>(3)</sup> <br>| $55635 |
| Non-cash Collateral<sup>(4)</sup> <br>| (55635)<br>|
| Net Amount | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(3)</sup> The amount is included in "Investments, at value" on the Statements of Assets and Liabilities. 

<sup>(4)</sup> At March 31, 2025, the value of the collateral received from each seller exceeded the value of the repurchase agreements. 

See Notes to Financial Statements

------

**First Trust Dow Jones International Internet ETF (FDNI)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 97.6%** | **COMMON STOCKS (a) (b) — 97.6%** | **COMMON STOCKS (a) (b) — 97.6%** |
|  | **Australia — 2.9%** |  |
| 15309 | CAR Group Ltd. (AUD) (c) | $305118 |
| 2007 | REA Group Ltd. (AUD) (c) | 278461 |
| 15629 | SEEK Ltd. (AUD) (c) | 211312 |
| 6321 | WiseTech Global Ltd. (AUD) (c) | 325962 |
|  |  | 1120853 |
|  | **Canada — 9.7%** |  |
| 3324 | Descartes Systems Group (The), <br> Inc. (CAD) (d) | 334629 |
| 35764 | Shopify, Inc., Class A (CAD) (d) | 3402308 |
|  |  | 3736937 |
|  | **Cayman Islands — 50.7%** |  |
| 229351 | Alibaba Group Holding Ltd. <br> (HKD) (c) | 3794838 |
| 74332 | Baidu, Inc., Class A <br> (HKD) (c) (d) | 857951 |
| 88774 | JD.com, Inc., Class A (HKD) (c) | 1826218 |
| 15241 | Kanzhun Ltd., ADR (d) | 292170 |
| 87319 | Kuaishou Technology <br> (HKD) (c) (d) (e) (f) | 612330 |
| 162036 | Meituan, Class B <br> (HKD) (c) (d) (e) (f) | 3260564 |
| 62630 | NetEase, Inc. (HKD) (c) | 1286584 |
| 14969 | PDD Holdings, Inc., ADR (d) | 1771581 |
| 11720 | Sea Ltd., ADR (d) | 1529343 |
| 60397 | Tencent Holdings Ltd. <br> (HKD) (c) | 3859124 |
| 18920 | Tencent Music Entertainment <br> Group, ADR | 272637 |
| 14303 | Vipshop Holdings Ltd., ADR (d) | 224271 |
|  |  | 19587611 |
|  | **Germany — 2.1%** |  |
| 7579 | Delivery Hero SE <br> (EUR) (c) (d) (e) (f) | 181727 |
| 2970 | Scout24 SE (EUR) (c) (e) (f) | 311027 |
| 8680 | Zalando SE (EUR) (c) (d) (e) (f) | 301069 |
|  |  | 793823 |
|  | **Indonesia — 0.5%** |  |
| 41119300 | GoTo Gojek Tokopedia Tbk PT <br> (IDR) (c) (d) (g) | 204493 |
|  | **Isle Of Man — 0.6%** |  |
| 31189 | Entain PLC (GBP) (c) | 235648 |
|  | **Israel — 0.8%** |  |
| 1922 | Wix.com Ltd. (d) | 314016 |
|  | **Japan — 2.0%** |  |
| 73576 | LY Corp. (JPY) (c) | 249140 |
| 15582 | Nexon Co., Ltd. (JPY) (c) | 213416 |
| 49773 | Rakuten Group, Inc. <br> (JPY) (c) (d) | 285546 |
|  |  | 748102 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Luxembourg — 4.8%** |  |
| 3342 | Spotify Technology S.A. (d) | $1838200 |
|  | **Netherlands — 8.9%** |  |
| 1063 | Adyen N.V. (EUR) (c) (d) (e) (f) | 1629367 |
| 38689 | Prosus N.V. (EUR) (c) | 1797464 |
|  |  | 3426831 |
|  | **New Zealand — 1.5%** |  |
| 5934 | Xero Ltd. (AUD) (c) (d) | 580012 |
|  | **South Africa — 4.5%** |  |
| 7046 | Naspers Ltd., Class N (ZAR) (c) | 1747342 |
|  | **South Korea — 3.5%** |  |
| 9196 | Kakao Corp. (KRW) (c) | 245152 |
| 1214 | Krafton, Inc. (KRW) (c) (d) | 277630 |
| 6346 | NAVER Corp. (KRW) (c) | 829319 |
|  |  | 1352101 |
|  | **Taiwan — 0.5%** |  |
| 8455 | International Games System Co., <br> Ltd. (TWD) (c) | 199065 |
|  | **United Kingdom — 2.4%** |  |
| 37151 | Auto Trader Group PLC <br> (GBP) (c) (e) (f) | 359238 |
| 30985 | Rightmove PLC (GBP) (c) | 275865 |
| 24006 | Wise PLC, Class A <br> (GBP) (c) (d) | 294672 |
|  |  | 929775 |
|  | **United States — 2.2%** |  |
| 39249 | Coupang, Inc. (d) | 860731 |
|  | **Total Investments — 97.6%** | 37675540 |
|  | (Cost $37,001,915) |  |
|  | **Net Other Assets and** <br> **Liabilities — 2.4%** | 941745 |
|  | **Net Assets — 100.0%** | $38617285 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

See Notes to Financial Statements

------

**First Trust Dow Jones International Internet ETF (FDNI)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 March 31, 2025, securities noted as
 such are valued at $26,835,654 or 69.5% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(e) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(f) This
 security may be resold to qualified foreign investors and foreign
 institutional buyers under Regulation S of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;(g) 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| ADR | – American Depositary Receipt |
| AUD | – Australian Dollar |
| CAD | – Canadian Dollar |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| HKD | – Hong Kong Dollar |
| IDR | – Indonesian Rupiah |
| JPY | – Japanese Yen |
| KRW | – South Korean Won |
| TWD | – New Taiwan Dollar |
| USD | – United States Dollar |
| ZAR | – South African Rand |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| HKD | 41.1% |
| USD | 18.9 |
| EUR | 11.2 |
| CAD | 9.9 |
| ZAR | 4.6 |
| AUD | 4.5 |
| KRW | 3.6 |
| GBP | 3.1 |
| JPY | 2.0 |
| IDR | 0.6 |
| TWD | 0.5 |
| Total | 100.0% |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks: |  |  |  |  |
| Canada | $3736937 | $3736937 | $— | $— |
| Cayman Islands | 19587611 | 4090002 | 15497609 |  |
| Israel | 314016 | 314016 |  |  |
| Luxembourg | 1838200 | 1838200 |  |  |
| United States | 860731 | 860731 |  |  |
| Other Country <br> Categories\*<br>| 11338045 |  | 11338045 |  |
| Total Investments | $37675540 | $10839886 | $26835654 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for country breakout.

See Notes to Financial Statements

------

**First Trust Bloomberg Emerging Market Democracies ETF (EMDM)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 99.9%** | **COMMON STOCKS (a) (b) — 99.9%** | **COMMON STOCKS (a) (b) — 99.9%** |
|  | **Brazil — 14.7%** |  |
| 21929 | Ambev S.A. (BRL) | $51879 |
| 27494 | B3 S.A. - Brasil Bolsa Balcao <br> (BRL) | 58491 |
| 32426 | Banco Bradesco S.A. (Preference <br> Shares) (BRL) | 71995 |
| 6531 | Banco BTG Pactual S.A. (BRL) | 38570 |
| 10003 | Banco do Brasil S.A. (BRL) | 49415 |
| 18783 | Banco Santander Brasil S.A. <br> (BRL) | 87950 |
| 28810 | Itau Unibanco Holding S.A. <br> (Preference Shares) (BRL) | 158579 |
| 29806 | Itausa S.A. (Preference Shares) <br> (BRL) | 49359 |
| 4266 | Localiza Rent a Car S.A. (BRL) | 25111 |
| 42443 | Petroleo Brasileiro S.A. <br> (Preference Shares) (BRL) | 276386 |
| 3583 | Suzano S.A. (BRL) | 33240 |
| 15418 | Vale S.A. (BRL) | 153195 |
| 7504 | WEG S.A. (BRL) | 59543 |
|  |  | 1113713 |
|  | **Hungary — 3.2%** |  |
| 3575 | OTP Bank Nyrt (HUF) (c) | 240533 |
|  | **India — 14.1%** |  |
| 282 | Adani Enterprises Ltd. (INR) (c) | 7605 |
| 475 | Adani Green Energy Ltd. <br> (INR) (c) (d) | 5226 |
| 828 | Adani Ports & Special Economic <br> Zone Ltd. (INR) (c) | 11401 |
| 476 | Asian Paints Ltd. (INR) (c) | 13005 |
| 250 | Avenue Supermarts Ltd. <br> (INR) (c) (d) (e) (f) | 11921 |
| 2967 | Axis Bank Ltd. (INR) (c) | 38059 |
| 116 | Bajaj Auto Ltd. (INR) (c) | 10648 |
| 265 | Bajaj Finance Ltd. (INR) (c) | 27610 |
| 587 | Bajaj Finserv Ltd. (INR) (c) | 13727 |
| 2476 | Bharti Airtel Ltd. (INR) (c) | 50056 |
| 563 | Cipla Ltd. (INR) (c) | 9461 |
| 362 | Grasim Industries Ltd. (INR) (c) | 11025 |
| 997 | HCL Technologies Ltd. <br> (INR) (c) | 18470 |
| 7549 | HDFC Bank Ltd. (INR) (c) | 160916 |
| 833 | Hindustan Unilever Ltd. <br> (INR) (c) | 21997 |
| 6895 | ICICI Bank Ltd. (INR) (c) | 108376 |
| 658 | IndusInd Bank Ltd. (INR) (c) | 4979 |
| 3298 | Infosys Ltd. (INR) (c) | 60431 |
| 7249 | ITC Ltd. (INR) (c) | 34637 |
| 3116 | Jio Financial Services Ltd. <br> (INR) (c) (d) | 8252 |
| 1419 | Kotak Mahindra Bank Ltd. <br> (INR) (c) | 35923 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **India (Continued)** |  |
| 1041 | Larsen & Toubro Ltd. (INR) (c) | $42334 |
| 910 | Mahindra & Mahindra Ltd. <br> (INR) (c) | 28246 |
| 142 | Maruti Suzuki India Ltd. <br> (INR) (c) | 19076 |
| 362 | Nestle India Ltd. (INR) (c) | 9512 |
| 4449 | NTPC Ltd. (INR) (c) | 18497 |
| 4435 | Power Grid Corp. of India Ltd. <br> (INR) (c) | 15009 |
| 6386 | Reliance Industries Ltd. <br> (INR) (c) | 94943 |
| 3279 | State Bank of India (INR) (c) | 29481 |
| 1093 | Sun Pharmaceutical Industries <br> Ltd. (INR) (c) | 22149 |
| 906 | Tata Consultancy Services Ltd. <br> (INR) (c) | 38112 |
| 2114 | Tata Motors Ltd. (INR) (c) | 16575 |
| 7823 | Tata Steel Ltd. (INR) (c) | 13975 |
| 373 | Titan Co., Ltd. (INR) (c) | 13311 |
| 212 | Trent, Ltd. (INR) (c) | 13142 |
| 118 | UltraTech Cement Ltd. (INR) (c) | 15827 |
| 6954 | Zomato Ltd. (INR) (c) (d) | 16336 |
|  |  | 1070250 |
|  | **Mexico — 14.8%** |  |
| 277859 | America Movil S.A.B. de C.V., <br> Series B (MXN) | 197962 |
| 142089 | Cemex S.A.B. de C.V., <br> Series CPO (MXN) | 80194 |
| 20615 | Fomento Economico Mexicano <br> S.A.B. de C.V., Series UBD <br> (MXN) | 201300 |
| 28279 | Grupo Financiero Banorte <br> S.A.B. de C.V., Class O <br> (MXN) | 196127 |
| 61714 | Grupo Mexico S.A.B. de C.V., <br> Series B (MXN) | 308562 |
| 50356 | Wal-Mart de Mexico S.A.B. de <br> C.V. (MXN) | 138682 |
|  |  | 1122827 |
|  | **Philippines — 1.3%** |  |
| 7289 | SM Investments Corp. (PHP) (c) | 100547 |
|  | **Poland — 8.3%** |  |
| 3627 | Bank Polska Kasa Opieki S.A. <br> (PLN) (c) | 165811 |
| 10048 | ORLEN S.A. (PLN) (c) | 176982 |
| 14815 | Powszechna Kasa Oszczednosci <br> Bank Polski S.A. (PLN) (c) | 289270 |
|  |  | 632063 |
|  | **South Africa — 15.1%** |  |
| 1084 | Capitec Bank Holdings Ltd. <br> (ZAR) (c) | 184368 |
| 62548 | FirstRand Ltd. (ZAR) (c) | 245802 |

---

See Notes to Financial Statements

------

**First Trust Bloomberg Emerging Market Democracies ETF (EMDM)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** |
|  | **South Africa (Continued)** |  |
| 2001 | Naspers Ltd., Class N (ZAR) (c) | $496229 |
| 17015 | Standard Bank Group Ltd. <br> (ZAR) (c) | 222324 |
|  |  | 1148723 |
|  | **South Korea — 13.5%** |  |
| 308 | Celltrion, Inc. (KRW) (c) | 35579 |
| 227 | Ecopro Co., Ltd. (KRW) (c) | 7720 |
| 579 | Hana Financial Group, Inc. <br> (KRW) (c) | 23641 |
| 268 | HLB, Inc. (KRW) (c) (d) | 10074 |
| 118 | Hyundai Mobis Co., Ltd. <br> (KRW) (c) | 20999 |
| 354 | Hyundai Motor Co. (KRW) (c) | 47815 |
| 618 | Kakao Corp. (KRW) (c) | 16475 |
| 676 | KB Financial Group, Inc. <br> (KRW) (c) | 36642 |
| 469 | Kia Corp. (KRW) (c) | 29664 |
| 104 | LG Chem Ltd. (KRW) (c) | 17489 |
| 284 | NAVER Corp. (KRW) (c) | 37114 |
| 141 | POSCO Holdings, Inc. <br> (KRW) (c) | 26890 |
| 38 | Samsung Biologics Co., Ltd. <br> (KRW) (c) (d) (e) (f) | 26372 |
| 12531 | Samsung Electronics Co., Ltd. <br> (KRW) (c) | 496797 |
| 106 | Samsung SDI Co., Ltd. <br> (KRW) (c) | 13699 |
| 983 | Shinhan Financial Group Co., <br> Ltd. (KRW) (c) | 31459 |
| 1076 | SK Hynix, Inc. (KRW) (c) | 143437 |
|  |  | 1021866 |
|  | **Taiwan — 14.9%** |  |
| 3600 | ASE Technology Holding Co., <br> Ltd. (TWD) (c) | 15821 |
| 9571 | Cathay Financial Holding Co., <br> Ltd. (TWD) (c) | 17860 |
| 4752 | Chunghwa Telecom Co., Ltd. <br> (TWD) (c) | 18461 |
| 19015 | CTBC Financial Holding Co., <br> Ltd. (TWD) (c) | 22862 |
| 2047 | Delta Electronics, Inc. <br> (TWD) (c) | 22640 |
| 15600 | E.Sun Financial Holding Co., <br> Ltd. (TWD) (c) | 13637 |
| 5209 | Formosa Plastics Corp. <br> (TWD) (c) | 5788 |
| 8800 | Fubon Financial Holding Co., <br> Ltd. (TWD) (c) | 22882 |
| 13090 | Hon Hai Precision Industry Co., <br> Ltd. (TWD) (c) | 59046 |
| 1532 | MediaTek, Inc. (TWD) (c) | 66030 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Taiwan (Continued)** |  |
| 12610 | Mega Financial Holding Co., <br> Ltd. (TWD) (c) | $15285 |
| 616 | Novatek Microelectronics Corp. <br> (TWD) (c) | 10240 |
| 2958 | Quanta Computer, Inc. <br> (TWD) (c) | 20581 |
| 27269 | Taiwan Semiconductor <br> Manufacturing Co., Ltd. <br> (TWD) (c) | 767977 |
| 5086 | Uni-President Enterprises Corp. <br> (TWD) (c) | 12403 |
| 12850 | United Microelectronics Corp. <br> (TWD) (c) | 17967 |
| 3001 | Wistron Corp. (TWD) (c) | 8798 |
| 13675 | Yuanta Financial Holding Co., <br> Ltd. (TWD) (c) | 14016 |
|  |  | 1132294 |
|  | **Total Common Stocks** | 7582816 |
|  | (Cost $7,117,531) |  |
| **MONEY MARKET FUNDS — 0.2%** | **MONEY MARKET FUNDS — 0.2%** | **MONEY MARKET FUNDS — 0.2%** |
| 14534 | Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - <br> 4.23% (g) | 14534 |
|  | (Cost $14,534) |  |
|  | **Total Investments — 100.1%** | 7597350 |
|  | (Cost $7,132,065) |  |
|  | **Net Other Assets and** <br> **Liabilities — (0.1)%** | (7646)<br>|
|  | **Net Assets — 100.0%** | $7589704 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 March 31, 2025, securities noted as
 such are valued at $5,346,276 or 70.4% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Non-income
 producing security.

See Notes to Financial Statements

------

**First Trust Bloomberg Emerging Market Democracies ETF (EMDM)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(e) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(f) This
 security may be resold to qualified foreign investors and foreign
 institutional buyers under Regulation S of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| BRL | – Brazilian Real |
| HUF | – Hungarian Forint |
| INR | – Indian Rupee |
| KRW | – South Korean Won |
| MXN | – Mexican Peso |
| PHP | – Philippine Peso |
| PLN | – Polish Zloty |
| TWD | – New Taiwan Dollar |
| USD | – United States Dollar |
| ZAR | – South African Rand |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| ZAR | 15.1% |
| TWD | 14.9 |
| MXN | 14.8 |
| BRL | 14.7 |
| INR | 14.1 |
| KRW | 13.4 |
| PLN | 8.3 |
| HUF | 3.2 |
| PHP | 1.3 |
| USD | 0.2 |
| Total | 100.0% |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks: |  |  |  |  |
| Brazil | $1113713 | $1113713 | $— | $— |
| Mexico | 1122827 | 1122827 |  |  |
| Other Country <br> Categories\*<br>| 5346276 |  | 5346276 |  |
| Money Market Funds | 14534 | 14534 |  |  |
| Total Investments | $7597350 | $2251074 | $5346276 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for country breakout.

See Notes to Financial Statements

------

**First Trust Emerging Markets Human Flourishing ETF (FTHF)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 99.3%** | **COMMON STOCKS (a) (b) — 99.3%** | **COMMON STOCKS (a) (b) — 99.3%** |
|  | **Brazil — 15.9%** |  |
| 246211 | B3 S.A. - Brasil Bolsa Balcao <br> (BRL) | $523794 |
| 58483 | Banco BTG Pactual S.A. (BRL) | 345377 |
| 29061 | BB Seguridade Participacoes <br> S.A. (BRL) | 205234 |
| 30764 | Cia de Saneamento Basico do <br> Estado de Sao Paulo SABESP <br> (BRL) | 549891 |
| 214232 | Cia Energetica de Minas Gerais <br> (Preference Shares) (BRL) | 385182 |
| 125047 | Gerdau S.A. (Preference Shares) <br> (BRL) | 354557 |
| 256284 | Itau Unibanco Holding S.A. <br> (Preference Shares) (BRL) | 1410663 |
| 263984 | Itausa S.A. (Preference Shares) <br> (BRL) | 437163 |
| 71021 | PRIO S.A. (BRL) (c) | 495340 |
| 142605 | Raia Drogasil S.A. (BRL) | 476062 |
| 136387 | WEG S.A. (BRL) | 1082215 |
|  |  | 6265478 |
|  | **Cayman Islands — 0.2%** |  |
| 859 | Alchip Technologies Ltd. <br> (TWD) (d) | 72412 |
|  | **Chile — 0.7%** |  |
| 1928258 | Banco de Chile (CLP) | 254856 |
|  | **Czech Republic — 1.8%** |  |
| 14599 | CEZ A/S (CZK) | 722917 |
|  | **Greece — 1.6%** |  |
| 110241 | Eurobank Ergasias Services and <br> Holdings S.A. (EUR) (d) | 296136 |
| 33276 | National Bank of Greece S.A. <br> (EUR) (d) | 342011 |
|  |  | 638147 |
|  | **Mexico — 8.2%** |  |
| 45253 | Coca-Cola Femsa S.A.B. de <br> C.V. (MXN) | 413645 |
| 33658 | Grupo Aeroportuario del <br> Pacifico S.A.B. de C.V., <br> Class B (MXN) | 622355 |
| 128561 | Grupo Financiero Banorte <br> S.A.B. de C.V., Class O <br> (MXN) | 891625 |
| 464614 | Wal-Mart de Mexico S.A.B. de <br> C.V. (MXN) | 1279564 |
|  |  | 3207189 |
|  | **Philippines — 4.8%** |  |
| 631500 | Ayala Land, Inc. (PHP) (d) | 254548 |
| 115330 | BDO Unibank, Inc. (PHP) | 308958 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Philippines (Continued)** |  |
| 94410 | International Container Terminal <br> Services, Inc. (PHP) (d) | $586689 |
| 52670 | SM Investments Corp. (PHP) (d) | 726552 |
|  |  | 1876747 |
|  | **Poland — 10.2%** |  |
| 9362 | Bank Polska Kasa Opieki S.A. <br> (PLN) (d) | 427990 |
| 4326 | Dino Polska S.A. <br> (PLN) (c) (d) (e) (f) | 504936 |
| 12343 | KGHM Polska Miedz S.A. <br> (PLN) (d) | 403482 |
| 94 | LPP S.A. (PLN) (d) | 428915 |
| 52631 | ORLEN S.A. (PLN) (d) | 927025 |
| 38237 | Powszechna Kasa Oszczednosci <br> Bank Polski S.A. (PLN) (d) | 746597 |
| 25338 | Powszechny Zaklad <br> Ubezpieczen S.A. (PLN) (d) | 368131 |
| 1485 | Santander Bank Polska S.A. <br> (PLN) (d) | 213835 |
|  |  | 4020911 |
|  | **South Africa — 18.3%** |  |
| 34983 | Absa Group Ltd. (ZAR) (d) | 338994 |
| 27847 | Bid Corp., Ltd. (ZAR) (d) | 667803 |
| 28474 | Bidvest Group Ltd. (ZAR) | 365728 |
| 3580 | Capitec Bank Holdings Ltd. <br> (ZAR) (d) | 608889 |
| 20141 | Clicks Group Ltd. (ZAR) | 372095 |
| 23540 | Discovery Ltd. (ZAR) | 256135 |
| 206433 | FirstRand Ltd. (ZAR) (d) | 811245 |
| 76754 | Gold Fields Ltd. (ZAR) (d) | 1695781 |
| 74957 | Impala Platinum Holdings Ltd. <br> (ZAR) (c) (d) | 516031 |
| 21620 | Nedbank Group Ltd. (ZAR) | 303340 |
| 51896 | OUTsurance Group Ltd. (ZAR) | 197281 |
| 73542 | Sanlam Ltd. (ZAR) | 331912 |
| 56157 | Standard Bank Group Ltd. <br> (ZAR) (d) | 733766 |
|  |  | 7199000 |
|  | **South Korea — 17.9%** |  |
| 3861 | Celltrion, Inc. (KRW) (d) | 446005 |
| 7255 | Hana Financial Group, Inc. <br> (KRW) (d) | 296224 |
| 525 | HD Hyundai Electric Co., Ltd. <br> (KRW) (d) | 107142 |
| 1474 | Hyundai Mobis Co., Ltd. <br> (KRW) (d) | 262305 |
| 8480 | KB Financial Group, Inc. <br> (KRW) (d) | 459648 |
| 5878 | Kia Corp. (KRW) (d) | 371776 |
| 270 | Korea Zinc Co., Ltd. (KRW) (d) | 142973 |
| 690 | Krafton, Inc. (KRW) (c) (d) | 157796 |
| 3563 | NAVER Corp. (KRW) (d) | 465626 |

---

See Notes to Financial Statements

------

**First Trust Emerging Markets Human Flourishing ETF (FTHF)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** |
|  | **South Korea (Continued)** |  |
| 468 | Samsung Biologics Co., Ltd. <br> (KRW) (c) (d) (e) (f) | $324797 |
| 1359 | Samsung Electro-Mechanics Co., <br> Ltd. (KRW) (d) | 120372 |
| 70394 | Samsung Electronics Co., Ltd. <br> (KRW) (d) | 2790804 |
| 882 | Samsung Fire & Marine <br> Insurance Co., Ltd. (KRW) (d) | 215251 |
| 1950 | Samsung Life Insurance Co., <br> Ltd. (KRW) (d) | 110234 |
| 1326 | Samsung SDI Co., Ltd. <br> (KRW) (d) | 171363 |
| 12331 | Shinhan Financial Group Co., <br> Ltd. (KRW) (d) | 394627 |
| 15838 | Woori Financial Group, Inc. <br> (KRW) (d) | 178854 |
|  |  | 7015797 |
|  | **Taiwan — 19.7%** |  |
| 5799 | Accton Technology Corp. <br> (TWD) (d) | 102741 |
| 5455 | Advantech Co., Ltd. (TWD) (d) | 62330 |
| 38943 | ASE Technology Holding Co., <br> Ltd. (TWD) (d) | 171144 |
| 3253 | Asia Vital Components Co., Ltd. <br> (TWD) (d) | 46062 |
| 7957 | Asustek Computer, Inc. <br> (TWD) (d) | 148049 |
| 7148 | Catcher Technology Co., Ltd. <br> (TWD) (d) | 45546 |
| 103532 | Cathay Financial Holding Co., <br> Ltd. (TWD) (d) | 193194 |
| 49402 | Compal Electronics, Inc. <br> (TWD) (d) | 48020 |
| 205689 | CTBC Financial Holding Co., <br> Ltd. (TWD) (d) | 247306 |
| 22139 | Delta Electronics, Inc. <br> (TWD) (d) | 244863 |
| 9230 | E Ink Holdings, Inc. (TWD) (d) | 75140 |
| 168743 | E.Sun Financial Holding Co., <br> Ltd. (TWD) (d) | 147513 |
| 817 | eMemory Technology, Inc. <br> (TWD) (d) | 57441 |
| 134695 | First Financial Holding Co., Ltd. <br> (TWD) (d) | 110521 |
| 95186 | Fubon Financial Holding Co., <br> Ltd. (TWD) (d) | 247510 |
| 114282 | Hua Nan Financial Holdings Co., <br> Ltd. (TWD) (d) | 96634 |
| 2994 | International Games System Co., <br> Ltd. (TWD) (d) | 70491 |
| 194867 | KGI Financial Holding Co., Ltd. <br> (TWD) (d) | 101764 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Taiwan (Continued)** |  |
| 1110 | Largan Precision Co., Ltd. <br> (TWD) (d) | $79947 |
| 25954 | Lite-On Technology Corp. <br> (TWD) (d) | 72082 |
| 16572 | MediaTek, Inc. (TWD) (d) | 714261 |
| 136410 | Mega Financial Holding Co., <br> Ltd. (TWD) (d) | 165346 |
| 6668 | Novatek Microelectronics Corp. <br> (TWD) (d) | 110850 |
| 22180 | Pegatron Corp. (TWD) (d) | 56686 |
| 3129 | PharmaEssentia Corp. <br> (TWD) (c) (d) | 49347 |
| 31999 | Quanta Computer, Inc. <br> (TWD) (d) | 222638 |
| 5600 | Realtek Semiconductor Corp. <br> (TWD) (d) | 89278 |
| 48920 | Shanghai Commercial & Savings <br> Bank (The) Ltd. (TWD) (d) | 66906 |
| 130263 | SinoPac Financial Holdings Co., <br> Ltd. (TWD) (d) | 88364 |
| 141074 | Taishin Financial Holding Co., <br> Ltd. (TWD) (d) | 73566 |
| 122964 | Taiwan Cooperative Financial <br> Holding Co., Ltd. (TWD) (d) | 89702 |
| 109016 | Taiwan Semiconductor <br> Manufacturing Co., Ltd. <br> (TWD) (d) | 3070217 |
| 14833 | Unimicron Technology Corp. <br> (TWD) (d) | 42254 |
| 139002 | United Microelectronics Corp. <br> (TWD) (d) | 194356 |
| 818 | Voltronic Power Technology <br> Corp. (TWD) (d) | 38252 |
| 32463 | Wistron Corp. (TWD) (d) | 95168 |
| 1130 | Wiwynn Corp. (TWD) (d) | 57223 |
| 147921 | Yuanta Financial Holding Co., <br> Ltd. (TWD) (d) | 151606 |
|  |  | 7744318 |
|  | **Total Common Stocks** | 39017772 |
|  | (Cost $38,360,277) |  |
| **MONEY MARKET FUNDS — 0.3%** | **MONEY MARKET FUNDS — 0.3%** | **MONEY MARKET FUNDS — 0.3%** |
| 121798 | Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - <br> 4.23% (g) | 121798 |
|  | (Cost $121,798) |  |
|  | **Total Investments — 99.6%** | 39139570 |
|  | (Cost $38,482,075) |  |
|  | **Net Other Assets and** <br> **Liabilities — 0.4%** | 164623 |
|  | **Net Assets — 100.0%** | $39304193 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust Emerging Markets Human Flourishing ETF (FTHF)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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 March 31, 2025, securities noted as
 such are valued at $26,431,883 or 67.2% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(e) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(f) This
 security may be resold to qualified foreign investors and foreign
 institutional buyers under Regulation S of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| BRL | – Brazilian Real |
| CLP | – Chilean Peso |
| CZK | – Czech Koruna |
| EUR | – Euro |
| KRW | – South Korean Won |
| MXN | – Mexican Peso |
| PHP | – Philippine Peso |
| PLN | – Polish Zloty |
| TWD | – New Taiwan Dollar |
| USD | – United States Dollar |
| ZAR | – South African Rand |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| TWD | 20.0% |
| ZAR | 18.4 |
| KRW | 17.9 |
| BRL | 16.0 |
| PLN | 10.3 |
| MXN | 8.2 |
| PHP | 4.8 |
| CZK | 1.8 |
| EUR | 1.6 |
| CLP | 0.7 |
| USD | 0.3 |
| Total | 100.0% |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks: |  |  |  |  |
| Brazil | $6265478 | $6265478 | $— | $— |
| Chile | 254856 | 254856 |  |  |
| Czech Republic | 722917 | 722917 |  |  |
| Mexico | 3207189 | 3207189 |  |  |
| Philippines | 1876747 | 308958 | 1567789 |  |
| South Africa | 7199000 | 1826491 | 5372509 |  |
| Other Country <br> Categories\*<br>| 19491585 |  | 19491585 |  |
| Money Market <br> Funds<br>| 121798 | 121798 |  |  |
| Total Investments | $39139570 | $12707687 | $26431883 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for country breakout.

See Notes to Financial Statements

------

This page intentionally left blank.

------

**First Trust Exchange-Traded Fund II**

**Statements of Assets and Liabilities**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **First Trust** <br> **STOXX**<sup>®</sup> <br> **European Select** <br> **Dividend Index** <br> **Fund** <br>**(FDD)** <br>| **First Trust** <br> **Alerian** <br> **Disruptive** <br> **Technology Real** <br> **Estate ETF** <br>**(DTRE)** <br>| **First Trust Dow** <br> **Jones Global** <br> **Select Dividend** <br> **Index Fund** <br>**(FGD)** <br>|
| **ASSETS:** |  |  |  |
| Investments, at value | $222621538 | &nbsp;&nbsp; $15382759 | &nbsp;&nbsp; $585369146 |
| Foreign currency, at value |  | &nbsp;&nbsp; 3062 | &nbsp;&nbsp; 808387 |
| Receivables: |  |  |  |
| Capital shares sold | 2707126 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Reclaims | 2622979 | &nbsp;&nbsp; 9779 | &nbsp;&nbsp; 2766646 |
| Dividends | 978012 | &nbsp;&nbsp; 80471 | &nbsp;&nbsp; 4120626 |
| Investment securities sold |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Securities lending income |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Prepaid expenses | 5515 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6605 |
| Total Assets | 228935170 | &nbsp;&nbsp; 15476071 | &nbsp;&nbsp; 593071410 |
| **LIABILITIES:** |  |  |  |
| Due to custodian |  | &nbsp;&nbsp; — | &nbsp;&nbsp; 239643 |
| Due to custodian foreign currency | 102 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Payables: |  |  |  |
| Investment securities purchased | 2655512 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Investment advisory fees | 61552 | &nbsp;&nbsp; 8068 | &nbsp;&nbsp; 200499 |
| Audit and tax fees | 23831 | &nbsp;&nbsp; — | &nbsp;&nbsp; 27401 |
| Shareholder reporting fees | 23188 | &nbsp;&nbsp; — | &nbsp;&nbsp; 63949 |
| Licensing fees | 4244 | &nbsp;&nbsp; — | &nbsp;&nbsp; 77655 |
| Trustees' fees | 314 | &nbsp;&nbsp; — | &nbsp;&nbsp; 480 |
| Capital shares redeemed |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Deferred foreign capital gains tax |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Collateral for securities on loan |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Other liabilities | 76651 | &nbsp;&nbsp; — | &nbsp;&nbsp; 106093 |
| Total Liabilities | 2845394 | &nbsp;&nbsp; 8068 | &nbsp;&nbsp; 715720 |
| **NET ASSETS** | $226089776 | &nbsp;&nbsp; $15468003 | &nbsp;&nbsp; $592355690 |
| **NET ASSETS consist of:** |  |  |  |
| Paid-in capital | $293142234 | &nbsp;&nbsp; $23151784 | &nbsp;&nbsp; $801942851 |
| Par value | 167033 | &nbsp;&nbsp; 3916 | &nbsp;&nbsp; 245500 |
| Accumulated distributable earnings (loss) | (67219491)<br>| &nbsp;&nbsp; (7687697)<br>| &nbsp;&nbsp; (209832661)<br>|
| **NET ASSETS** | $226089776 | &nbsp;&nbsp; $15468003 | &nbsp;&nbsp; $592355690 |
| **NET ASSET VALUE,** per share | $13.54 | &nbsp;&nbsp; $39.50 | &nbsp;&nbsp; $24.13 |
| Number of shares outstanding (unlimited number of shares authorized, <br> par value $0.01 per share)<br>| 16703334 | &nbsp;&nbsp; 391608 | &nbsp;&nbsp; 24550002 |
| Investments, at cost | $199688778 | &nbsp;&nbsp; $15374281 | &nbsp;&nbsp; $569705420 |
| Foreign currency, at cost (proceeds) | $(102)<br>| &nbsp;&nbsp; $2953 | &nbsp;&nbsp; $807244 |
| Securities on loan, at value | $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |

---

See Notes to Financial Statements

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **First Trust Global** <br> **Wind Energy ETF** <br>**(FAN)** <br>| **First Trust Alerian** <br> **U.S. NextGen** <br> **Infrastructure ETF** <br>**(RBLD)** <br>| **First Trust NASDAQ**<sup>®</sup> <br> **Clean Edge**<sup>®</sup> **Smart** <br> **Grid Infrastructure** <br> **Index Fund** <br>**(GRID)** <br>| **First Trust Indxx** <br> **Global Natural** <br> **Resources Income** <br> **ETF** <br>**(FTRI)** <br>| **First Trust Indxx** <br> **Global Agriculture** <br> **ETF** <br>**(FTAG)** <br>|
| $138902221 | &nbsp;&nbsp; $13143485 | &nbsp;&nbsp; $2016652905 | &nbsp;&nbsp; $100143045 | &nbsp;&nbsp; $5854849 |
| 54458 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1067985 | &nbsp;&nbsp; 65032 | &nbsp;&nbsp; 1129 |
| 243731 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1292667 | &nbsp;&nbsp; 26800 | &nbsp;&nbsp; 17258 |
| 79417 | &nbsp;&nbsp; 9501 | &nbsp;&nbsp; 3804316 | &nbsp;&nbsp; 197666 | &nbsp;&nbsp; 4197 |
|  | &nbsp;&nbsp; — | &nbsp;&nbsp; 693265 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 4377 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10589 | &nbsp;&nbsp; 6029 | &nbsp;&nbsp; — |
| 5183 | &nbsp;&nbsp; — | &nbsp;&nbsp; 11049 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 139289387 | &nbsp;&nbsp; 13152986 | &nbsp;&nbsp; 2023532776 | &nbsp;&nbsp; 100438572 | &nbsp;&nbsp; 5877433 |
| 39828 | &nbsp;&nbsp; 7314 | &nbsp;&nbsp; 726796 | &nbsp;&nbsp; 55844 | &nbsp;&nbsp; 3520 |
| 74139 | &nbsp;&nbsp; — | &nbsp;&nbsp; 12081 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 43536 | &nbsp;&nbsp; — | &nbsp;&nbsp; 37910 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 76322 | &nbsp;&nbsp; — | &nbsp;&nbsp; 476724 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 340 | &nbsp;&nbsp; — | &nbsp;&nbsp; 409 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 73974 | &nbsp;&nbsp; 46419 |
| 8617053 | &nbsp;&nbsp; — | &nbsp;&nbsp; 12231291 | &nbsp;&nbsp; 8922191 | &nbsp;&nbsp; — |
| 35627 | &nbsp;&nbsp; — | &nbsp;&nbsp; 296882 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 8886845 | &nbsp;&nbsp; 7314 | &nbsp;&nbsp; 13782093 | &nbsp;&nbsp; 9052009 | &nbsp;&nbsp; 49939 |
| $130402542 | &nbsp;&nbsp; $13145672 | &nbsp;&nbsp; $2009750683 | &nbsp;&nbsp; $91386563 | &nbsp;&nbsp; $5827494 |
| $270466824 | &nbsp;&nbsp; $19722388 | &nbsp;&nbsp; $2057059767 | &nbsp;&nbsp; $201251664 | &nbsp;&nbsp; $29155748 |
| 86500 | &nbsp;&nbsp; 2000 | &nbsp;&nbsp; 177500 | &nbsp;&nbsp; 69000 | &nbsp;&nbsp; 2399 |
| (140150782)<br>| &nbsp;&nbsp; (6578716)<br>| &nbsp;&nbsp; (47486584)<br>| &nbsp;&nbsp; (109934101)<br>| &nbsp;&nbsp; (23330653)<br>|
| $130402542 | &nbsp;&nbsp; $13145672 | &nbsp;&nbsp; $2009750683 | &nbsp;&nbsp; $91386563 | &nbsp;&nbsp; $5827494 |
| $15.08 | &nbsp;&nbsp; $65.73 | &nbsp;&nbsp; $113.23 | &nbsp;&nbsp; $13.24 | &nbsp;&nbsp; $24.29 |
| 8650002 | &nbsp;&nbsp; 200002 | &nbsp;&nbsp; 17750002 | &nbsp;&nbsp; 6900002 | &nbsp;&nbsp; 239928 |
| $194679563 | &nbsp;&nbsp; $11247782 | &nbsp;&nbsp; $2035464935 | &nbsp;&nbsp; $100413696 | &nbsp;&nbsp; $7480942 |
| $54440 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1063245 | &nbsp;&nbsp; $65353 | &nbsp;&nbsp; $1127 |
| $7652933 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $11222566 | &nbsp;&nbsp; $8709081 | &nbsp;&nbsp; $— |

---

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund II**

**Statements of Assets and Liabilities (Continued)**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **First Trust** <br> **Indxx NextG** <br> **ETF** <br>**(NXTG)** <br>| **First Trust** <br> **S-Network** <br> **Future Vehicles** <br> **& Technology** <br> **ETF** <br>**(CARZ)** <br>| **First Trust** <br> **Cloud** <br> **Computing ETF** <br>**(SKYY)** <br>|
| **ASSETS:** |  |  |  |
| Investments, at value | $347054369 | &nbsp;&nbsp; $30727563 | &nbsp;&nbsp; $3092924648 |
| Foreign currency, at value | 156336 | &nbsp;&nbsp; 1644 | &nbsp;&nbsp; — |
| Receivables: |  |  |  |
| Capital shares sold | 11443 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Reclaims | 276183 | &nbsp;&nbsp; 29375 | &nbsp;&nbsp; 660294 |
| Dividends | 1040770 | &nbsp;&nbsp; 80183 | &nbsp;&nbsp; 445102 |
| Investment securities sold | 4058583 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Securities lending income | 7924 | &nbsp;&nbsp; 9076 | &nbsp;&nbsp; 3381 |
| Prepaid expenses |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total Assets | 352605608 | &nbsp;&nbsp; 30847841 | &nbsp;&nbsp; 3094033425 |
| **LIABILITIES:** |  |  |  |
| Due to custodian |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Due to custodian foreign currency |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Payables: |  |  |  |
| Investment securities purchased |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Investment advisory fees | 212137 | &nbsp;&nbsp; 18486 | &nbsp;&nbsp; 1686807 |
| Audit and tax fees |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Shareholder reporting fees |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Licensing fees |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Trustees' fees |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Capital shares redeemed | 4250364 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Deferred foreign capital gains tax | 383843 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Collateral for securities on loan | 7728835 | &nbsp;&nbsp; 1214816 | &nbsp;&nbsp; 4758039 |
| Other liabilities |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total Liabilities | 12575179 | &nbsp;&nbsp; 1233302 | &nbsp;&nbsp; 6444846 |
| **NET ASSETS** | $340030429 | &nbsp;&nbsp; $29614539 | &nbsp;&nbsp; $3087588579 |
| **NET ASSETS consist of:** |  |  |  |
| Paid-in capital | $327253234 | &nbsp;&nbsp; $48306666 | &nbsp;&nbsp; $4122646750 |
| Par value | 40000 | &nbsp;&nbsp; 5500 | &nbsp;&nbsp; 302000 |
| Accumulated distributable earnings (loss) | 12737195 | &nbsp;&nbsp; (18697627)<br>| &nbsp;&nbsp; (1035360171)<br>|
| **NET ASSETS** | $340030429 | &nbsp;&nbsp; $29614539 | &nbsp;&nbsp; $3087588579 |
| **NET ASSET VALUE,** per share | $85.01 | &nbsp;&nbsp; $53.84 | &nbsp;&nbsp; $102.24 |
| Number of shares outstanding (unlimited number of shares authorized, <br> par value $0.01 per share)<br>| 4000002 | &nbsp;&nbsp; 550002 | &nbsp;&nbsp; 30200002 |
| Investments, at cost | $336994336 | &nbsp;&nbsp; $31452034 | &nbsp;&nbsp; $2698085633 |
| Foreign currency, at cost (proceeds) | $156000 | &nbsp;&nbsp; $1653 | &nbsp;&nbsp; $— |
| Securities on loan, at value | $7356170 | &nbsp;&nbsp; $1171015 | &nbsp;&nbsp; $4636227 |

---

See Notes to Financial Statements

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **First Trust** <br> **International Equity** <br> **Opportunities ETF** <br>**(FPXI)** <br>| **First Trust Nasdaq** <br> **Cybersecurity ETF** <br>**(CIBR)** <br>| **First Trust IPOX**<sup>®</sup> <br> **Europe Equity** <br> **Opportunities ETF** <br>**(FPXE)** <br>| **First Trust Dow Jones** <br> **International Internet** <br> **ETF** <br>**(FDNI)** <br>| **First Trust Bloomberg** <br> **Emerging Market** <br> **Democracies ETF** <br>**(EMDM)** <br>|
| $132345176 | &nbsp;&nbsp; $7919225777 | &nbsp;&nbsp; $3914148 | &nbsp;&nbsp; $37675540 | &nbsp;&nbsp; $7597350 |
| 105 | &nbsp;&nbsp; — | &nbsp;&nbsp; 235 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1197 |
| 176367 | &nbsp;&nbsp; 860770 | &nbsp;&nbsp; 5828 | &nbsp;&nbsp; 301 | &nbsp;&nbsp; 642 |
| 216162 | &nbsp;&nbsp; 227329 | &nbsp;&nbsp; 884 | &nbsp;&nbsp; 12387 | &nbsp;&nbsp; 18746 |
|  | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 976278 | &nbsp;&nbsp; — |
| 837 | &nbsp;&nbsp; 31585 | &nbsp;&nbsp; 141 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 132738647 | &nbsp;&nbsp; 7920345461 | &nbsp;&nbsp; 3921236 | &nbsp;&nbsp; 38664506 | &nbsp;&nbsp; 7617935 |
| 99008 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 26572 | &nbsp;&nbsp; — |
| 79252 | &nbsp;&nbsp; 3956280 | &nbsp;&nbsp; 2382 | &nbsp;&nbsp; 20649 | &nbsp;&nbsp; 4856 |
|  | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 23375 |
| 2632238 | &nbsp;&nbsp; 41185943 | &nbsp;&nbsp; 55635 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 2810498 | &nbsp;&nbsp; 45142223 | &nbsp;&nbsp; 58017 | &nbsp;&nbsp; 47221 | &nbsp;&nbsp; 28231 |
| $129928149 | &nbsp;&nbsp; $7875203238 | &nbsp;&nbsp; $3863219 | &nbsp;&nbsp; $38617285 | &nbsp;&nbsp; $7589704 |
| $457016834 | &nbsp;&nbsp; $6829377438 | &nbsp;&nbsp; $6966791 | &nbsp;&nbsp; $62592397 | &nbsp;&nbsp; $7395896 |
| 27500 | &nbsp;&nbsp; 1249500 | &nbsp;&nbsp; 1500 | &nbsp;&nbsp; 12500 | &nbsp;&nbsp; 3500 |
| (327116185)<br>| &nbsp;&nbsp; 1044576300 | &nbsp;&nbsp; (3105072)<br>| &nbsp;&nbsp; (23987612)<br>| &nbsp;&nbsp; 190308 |
| $129928149 | &nbsp;&nbsp; $7875203238 | &nbsp;&nbsp; $3863219 | &nbsp;&nbsp; $38617285 | &nbsp;&nbsp; $7589704 |
| $47.25 | &nbsp;&nbsp; $63.03 | &nbsp;&nbsp; $25.75 | &nbsp;&nbsp; $30.89 | &nbsp;&nbsp; $21.68 |
| 2750002 | &nbsp;&nbsp; 124950002 | &nbsp;&nbsp; 150002 | &nbsp;&nbsp; 1250002 | &nbsp;&nbsp; 350002 |
| $117646031 | &nbsp;&nbsp; $6119320155 | &nbsp;&nbsp; $3353665 | &nbsp;&nbsp; $37001915 | &nbsp;&nbsp; $7132065 |
| $105 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $235 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1179 |
| $2522817 | &nbsp;&nbsp; $39428655 | &nbsp;&nbsp; $53418 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |

---

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund II**

**Statements of Assets and Liabilities (Continued)**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **First Trust** <br> **Emerging** <br> **Markets Human** <br> **Flourishing ETF** <br>**(FTHF)** <br>|
| **ASSETS:** |  |
| Investments, at value | $39139570 |
| Foreign currency, at value | 31787 |
| Receivables: |  |
| Capital shares sold |  |
| Reclaims | 7050 |
| Dividends | 151305 |
| Investment securities sold |  |
| Securities lending income |  |
| Prepaid expenses |  |
| Total Assets | 39329712 |
| **LIABILITIES:** |  |
| Due to custodian |  |
| Due to custodian foreign currency |  |
| Payables: |  |
| Investment securities purchased |  |
| Investment advisory fees | 25519 |
| Audit and tax fees |  |
| Shareholder reporting fees |  |
| Licensing fees |  |
| Trustees' fees |  |
| Capital shares redeemed |  |
| Deferred foreign capital gains tax |  |
| Collateral for securities on loan |  |
| Other liabilities |  |
| Total Liabilities | 25519 |
| **NET ASSETS** | $39304193 |
| **NET ASSETS consist of:** |  |
| Paid-in capital | $39409475 |
| Par value | 17500 |
| Accumulated distributable earnings (loss) | (122782)<br>|
| **NET ASSETS** | $39304193 |
| **NET ASSET VALUE,** per share | $22.46 |
| Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share) | 1750002 |
| Investments, at cost | $38482075 |
| Foreign currency, at cost (proceeds) | $31858 |
| Securities on loan, at value | $— |

---

See Notes to Financial Statements

------

This page intentionally left blank.

------

**First Trust Exchange-Traded Fund II**

**Statements of Operations**

**For the Six Months Ended March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **First Trust** <br> **STOXX**<sup>®</sup> <br> **European Select** <br> **Dividend Index** <br> **Fund** <br>**(FDD)** <br>| **First Trust** <br> **Alerian** <br> **Disruptive** <br> **Technology Real** <br> **Estate ETF** <br>**(DTRE)** <br>| **First Trust Dow** <br> **Jones Global** <br> **Select Dividend** <br> **Index Fund** <br>**(FGD)** <br>|
| **INVESTMENT INCOME:** |  |  |  |
| Dividends | $5147409 | &nbsp;&nbsp; $325197 | &nbsp;&nbsp; $14465750 |
| Securities lending income (net of fees) |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Foreign withholding tax | (324594)<br>| &nbsp;&nbsp; (15122)<br>| &nbsp;&nbsp; (851805)<br>|
| Total investment income | 4822815 | &nbsp;&nbsp; 310075 | &nbsp;&nbsp; 13613945 |
| **EXPENSES:** |  |  |  |
| Investment advisory fees | 312047<br>| &nbsp;&nbsp; 52,071<br> (a)<br>| &nbsp;&nbsp; 1111970<br>|
| Licensing fees | 39111 | &nbsp;&nbsp; — | &nbsp;&nbsp; 154432 |
| Accounting and administration fees | 37908 | &nbsp;&nbsp; — | &nbsp;&nbsp; 128387 |
| Shareholder reporting fees | 20816 | &nbsp;&nbsp; — | &nbsp;&nbsp; 45823 |
| Audit and tax fees | 20535 | &nbsp;&nbsp; — | &nbsp;&nbsp; 23123 |
| Custodian fees | 11462 | &nbsp;&nbsp; — | &nbsp;&nbsp; 51011 |
| Trustees' fees and expenses | 4786 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5090 |
| Listing fees | 4286 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6801 |
| Transfer agent fees | 3901 | &nbsp;&nbsp; — | &nbsp;&nbsp; 13900 |
| Legal fees | 1975 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7136 |
| Other expenses | 1758 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5036 |
| Total expenses | 458585 | &nbsp;&nbsp; 52071 | &nbsp;&nbsp; 1552709 |
| Less fees waived and expenses reimbursed by the investment advisor |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Net expenses | 458585 | &nbsp;&nbsp; 52071 | &nbsp;&nbsp; 1552709 |
| **NET INVESTMENT INCOME (LOSS)** | 4364230 | &nbsp;&nbsp; 258004 | &nbsp;&nbsp; 12061236 |
| **NET REALIZED AND UNREALIZED GAIN (LOSS):** |  |  |  |
| Net realized gain (loss) on: |  |  |  |
| Investments | 2074664 | &nbsp;&nbsp; 152371 | &nbsp;&nbsp; 2718256 |
| In-kind redemptions | 875167 | &nbsp;&nbsp; 321461 | &nbsp;&nbsp; 6753390 |
| Foreign currency transactions | (129419)<br>| &nbsp;&nbsp; (1455)<br>| &nbsp;&nbsp; (153946)<br>|
| Foreign capital gains tax |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Net realized gain (loss) | 2820412 | &nbsp;&nbsp; 472377 | &nbsp;&nbsp; 9317700 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |
| Investments | 10679432 | &nbsp;&nbsp; (2421334)<br>| &nbsp;&nbsp; (13753339)<br>|
| Foreign currency translation | (62550)<br>| &nbsp;&nbsp; (580)<br>| &nbsp;&nbsp; (149168)<br>|
| Deferred foreign capital gains tax |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Net change in unrealized appreciation (depreciation) | 10616882 | &nbsp;&nbsp; (2421914)<br>| &nbsp;&nbsp; (13902507)<br>|
| **NET REALIZED AND UNREALIZED GAIN (LOSS)** | 13437294 | &nbsp;&nbsp; (1949537)<br>| &nbsp;&nbsp; (4584807)<br>|
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING** <br> **FROM OPERATIONS**<br>| $17801524 | &nbsp;&nbsp; $(1691533)<br>| &nbsp;&nbsp; $7476429 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Fund
 is subject to a unitary fee (see Note 3 in the Notes to Financial Statements).

See Notes to Financial Statements

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **First Trust Global** <br> **Wind Energy ETF** <br>**(FAN)** <br>| **First Trust Alerian** <br> **U.S. NextGen** <br> **Infrastructure ETF** <br>**(RBLD)** <br>| **First Trust NASDAQ**<sup>®</sup> <br> **Clean Edge**<sup>®</sup> **Smart** <br> **Grid Infrastructure** <br> **Index Fund** <br>**(GRID)** <br>| **First Trust Indxx** <br> **Global Natural** <br> **Resources Income** <br> **ETF** <br>**(FTRI)** <br>| **First Trust Indxx** <br> **Global Agriculture** <br> **ETF** <br>**(FTAG)** <br>|
| $860635 | &nbsp;&nbsp; $118779 | &nbsp;&nbsp; $16819649 | &nbsp;&nbsp; $1663585 | &nbsp;&nbsp; $91240 |
| 23461 | &nbsp;&nbsp; — | &nbsp;&nbsp; 22595 | &nbsp;&nbsp; 43310 | &nbsp;&nbsp; — |
| (85990)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (947722)<br>| &nbsp;&nbsp; (167988)<br>| &nbsp;&nbsp; (2294)<br>|
| 798106 | &nbsp;&nbsp; 118779 | &nbsp;&nbsp; 15894522 | &nbsp;&nbsp; 1538907 | &nbsp;&nbsp; 88946 |
| 306376<br>| &nbsp;&nbsp; 39,249<br> (a)<br>| &nbsp;&nbsp; 4109558<br>| &nbsp;&nbsp; 397,164<br> (a)<br>| &nbsp;&nbsp; 20,540<br> (a)<br>|
| 27742 | &nbsp;&nbsp; — | &nbsp;&nbsp; 921627 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 37472 | &nbsp;&nbsp; — | &nbsp;&nbsp; 425819 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 33819 | &nbsp;&nbsp; — | &nbsp;&nbsp; 57733 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 56909 | &nbsp;&nbsp; — | &nbsp;&nbsp; 17574 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 21722 | &nbsp;&nbsp; — | &nbsp;&nbsp; 112112 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 4806 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5686 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 4589 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5038 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 3830 | &nbsp;&nbsp; — | &nbsp;&nbsp; 38151 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 2100 | &nbsp;&nbsp; — | &nbsp;&nbsp; 33774 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 4008 | &nbsp;&nbsp; — | &nbsp;&nbsp; 9803 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 503373 | &nbsp;&nbsp; 39249 | &nbsp;&nbsp; 5736875 | &nbsp;&nbsp; 397164 | &nbsp;&nbsp; 20540 |
| (43808)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 459565 | &nbsp;&nbsp; 39249 | &nbsp;&nbsp; 5736875 | &nbsp;&nbsp; 397164 | &nbsp;&nbsp; 20540 |
| 338541 | &nbsp;&nbsp; 79530 | &nbsp;&nbsp; 10157647 | &nbsp;&nbsp; 1141743 | &nbsp;&nbsp; 68406 |
| (2580704)<br>| &nbsp;&nbsp; 139104 | &nbsp;&nbsp; (37130181)<br>| &nbsp;&nbsp; 438688 | &nbsp;&nbsp; (256366)<br>|
| (1938554)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 76227395 | &nbsp;&nbsp; (204374)<br>| &nbsp;&nbsp; — |
| (1134)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (156049)<br>| &nbsp;&nbsp; 136 | &nbsp;&nbsp; (1542)<br>|
|  | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (66347)<br>| &nbsp;&nbsp; (2034)<br>|
| (4520392)<br>| &nbsp;&nbsp; 139104 | &nbsp;&nbsp; 38941165 | &nbsp;&nbsp; 168103 | &nbsp;&nbsp; (259942)<br>|
| (27354994)<br>| &nbsp;&nbsp; (498833)<br>| &nbsp;&nbsp; (278449784)<br>| &nbsp;&nbsp; (5203670)<br>| &nbsp;&nbsp; (202847)<br>|
| (9326)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (52615)<br>| &nbsp;&nbsp; (2647)<br>| &nbsp;&nbsp; (689)<br>|
|  | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 227735 | &nbsp;&nbsp; 31558 |
| (27364320)<br>| &nbsp;&nbsp; (498833)<br>| &nbsp;&nbsp; (278502399)<br>| &nbsp;&nbsp; (4978582)<br>| &nbsp;&nbsp; (171978)<br>|
| (31884712)<br>| &nbsp;&nbsp; (359729)<br>| &nbsp;&nbsp; (239561234)<br>| &nbsp;&nbsp; (4810479)<br>| &nbsp;&nbsp; (431920)<br>|
| $(31546171)<br>| &nbsp;&nbsp; $(280199)<br>| &nbsp;&nbsp; $(229403587)<br>| &nbsp;&nbsp; $(3668736)<br>| &nbsp;&nbsp; $(363514)<br>|

---

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund II**

**Statements of Operations (Continued)**

**For the Six Months Ended March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **First Trust** <br> **Indxx NextG** <br> **ETF** <br>**(NXTG)** <br>| **First Trust** <br> **S-Network** <br> **Future Vehicles** <br> **& Technology** <br> **ETF** <br>**(CARZ)** <br>| **First Trust** <br> **Cloud** <br> **Computing ETF** <br>**(SKYY)** <br>|
| **INVESTMENT INCOME:** |  |  |  |
| Dividends | $4191583 | &nbsp;&nbsp; $195371 | &nbsp;&nbsp; $7153872 |
| Securities lending income (net of fees) | 28020 | &nbsp;&nbsp; 31797 | &nbsp;&nbsp; 17920 |
| Foreign withholding tax | (372051)<br>| &nbsp;&nbsp; (17530)<br>| &nbsp;&nbsp; (34808)<br>|
| Total investment income | 3847552 | &nbsp;&nbsp; 209638 | &nbsp;&nbsp; 7136984 |
| **EXPENSES:** |  |  |  |
| Investment advisory fees | 1,295,048<br> (a)<br>| &nbsp;&nbsp; 112,657<br> (a)<br>| &nbsp;&nbsp; 10,521,246<br> (a)<br>|
| Licensing fees |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Accounting and administration fees |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Shareholder reporting fees |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Audit and tax fees |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Custodian fees |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Trustees' fees and expenses |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Listing fees |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Transfer agent fees |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Legal fees |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Other expenses |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total expenses | 1295048 | &nbsp;&nbsp; 112657 | &nbsp;&nbsp; 10521246 |
| Less fees waived and expenses reimbursed by the investment advisor |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Net expenses | 1295048 | &nbsp;&nbsp; 112657 | &nbsp;&nbsp; 10521246 |
| **NET INVESTMENT INCOME (LOSS)** | 2552504 | &nbsp;&nbsp; 96981 | &nbsp;&nbsp; (3384262)<br>|
| **NET REALIZED AND UNREALIZED GAIN (LOSS):** |  |  |  |
| Net realized gain (loss) on: |  |  |  |
| Investments | (732618)<br>| &nbsp;&nbsp; (1566030)<br>| &nbsp;&nbsp; 75725388 |
| In-kind redemptions | 16210040 | &nbsp;&nbsp; 1213915 | &nbsp;&nbsp; 114155686 |
| Foreign currency transactions | (50541)<br>| &nbsp;&nbsp; (4495)<br>| &nbsp;&nbsp; — |
| Foreign capital gains tax | (229812)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Net realized gain (loss) | 15197069 | &nbsp;&nbsp; (356610)<br>| &nbsp;&nbsp; 189881074 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |
| Investments | (27176109)<br>| &nbsp;&nbsp; (2163290)<br>| &nbsp;&nbsp; (224866510)<br>|
| Foreign currency translation | (8984)<br>| &nbsp;&nbsp; (901)<br>| &nbsp;&nbsp; — |
| Deferred foreign capital gains tax | 530539 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Net change in unrealized appreciation (depreciation) | (26654554)<br>| &nbsp;&nbsp; (2164191)<br>| &nbsp;&nbsp; (224866510)<br>|
| **NET REALIZED AND UNREALIZED GAIN (LOSS)** | (11457485)<br>| &nbsp;&nbsp; (2520801)<br>| &nbsp;&nbsp; (34985436)<br>|
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING** <br> **FROM OPERATIONS**<br>| $(8904981)<br>| &nbsp;&nbsp; $(2423820)<br>| &nbsp;&nbsp; $(38369698)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Fund
 is subject to a unitary fee (see Note 3 in the Notes to Financial Statements).

See Notes to Financial Statements

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **First Trust** <br> **International Equity** <br> **Opportunities ETF** <br>**(FPXI)** <br>| **First Trust Nasdaq** <br> **Cybersecurity ETF** <br>**(CIBR)** <br>| **First Trust IPOX**<sup>®</sup> <br> **Europe Equity** <br> **Opportunities ETF** <br>**(FPXE)** <br>| **First Trust Dow Jones** <br> **International Internet** <br> **ETF** <br>**(FDNI)** <br>| **First Trust Bloomberg** <br> **Emerging Market** <br> **Democracies ETF** <br>**(EMDM)** <br>|
| $647183 | &nbsp;&nbsp; $32405233 | &nbsp;&nbsp; $31299 | &nbsp;&nbsp; $47369 | &nbsp;&nbsp; $120872 |
| 5097 | &nbsp;&nbsp; 114867 | &nbsp;&nbsp; 315 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| (68722)<br>| &nbsp;&nbsp; (644101)<br>| &nbsp;&nbsp; (5728)<br>| &nbsp;&nbsp; (2321)<br>| &nbsp;&nbsp; (11966)<br>|
| 583558 | &nbsp;&nbsp; 31875999 | &nbsp;&nbsp; 25886 | &nbsp;&nbsp; 45048 | &nbsp;&nbsp; 108906 |
| 487,820<br> (a)<br>| &nbsp;&nbsp; 21,969,883<br> (a)<br>| &nbsp;&nbsp; 13,965<br> (a)<br>| &nbsp;&nbsp; 125,494<br> (a)<br>| &nbsp;&nbsp; 28,773<br> (a)<br>|
| 487820 | &nbsp;&nbsp; 21969883 | &nbsp;&nbsp; 13965 | &nbsp;&nbsp; 125494 | &nbsp;&nbsp; 28773 |
| 487820 | &nbsp;&nbsp; 21969883 | &nbsp;&nbsp; 13965 | &nbsp;&nbsp; 125494 | &nbsp;&nbsp; 28773 |
| 95738 | &nbsp;&nbsp; 9906116 | &nbsp;&nbsp; 11921 | &nbsp;&nbsp; (80446)<br>| &nbsp;&nbsp; 80133 |
| 8297545 | &nbsp;&nbsp; 75982496 | &nbsp;&nbsp; 185062 | &nbsp;&nbsp; (1458222)<br>| &nbsp;&nbsp; 95453 |
| 3687470 | &nbsp;&nbsp; 9503296 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2583322 | &nbsp;&nbsp; — |
| (19190)<br>| &nbsp;&nbsp; 35739 | &nbsp;&nbsp; (425)<br>| &nbsp;&nbsp; (3573)<br>| &nbsp;&nbsp; (1895)<br>|
|  | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (3633)<br>|
| 11965825 | &nbsp;&nbsp; 85521531 | &nbsp;&nbsp; 184637 | &nbsp;&nbsp; 1121527 | &nbsp;&nbsp; 89925 |
| (14893022)<br>| &nbsp;&nbsp; 295897074 | &nbsp;&nbsp; (319424)<br>| &nbsp;&nbsp; 725304 | &nbsp;&nbsp; (618133)<br>|
| (2034)<br>| &nbsp;&nbsp; (19947)<br>| &nbsp;&nbsp; (227)<br>| &nbsp;&nbsp; (426)<br>| &nbsp;&nbsp; (225)<br>|
|  | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 34841 |
| (14895056)<br>| &nbsp;&nbsp; 295877127 | &nbsp;&nbsp; (319651)<br>| &nbsp;&nbsp; 724878 | &nbsp;&nbsp; (583517)<br>|
| (2929231)<br>| &nbsp;&nbsp; 381398658 | &nbsp;&nbsp; (135014)<br>| &nbsp;&nbsp; 1846405 | &nbsp;&nbsp; (493592)<br>|
| $(2833493)<br>| &nbsp;&nbsp; $391304774 | &nbsp;&nbsp; $(123093)<br>| &nbsp;&nbsp; $1765959 | &nbsp;&nbsp; $(413459)<br>|

---

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund II**

**Statements of Operations (Continued)**

**For the Six Months Ended March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **First Trust** <br> **Emerging** <br> **Markets Human** <br> **Flourishing ETF** <br>**(FTHF)** <br>|
| **INVESTMENT INCOME:** |  |
| Dividends | $585836 |
| Securities lending income (net of fees) |  |
| Foreign withholding tax | (75691)<br>|
| Total investment income | 510145 |
| **EXPENSES:** |  |
| Investment advisory fees | 151,271<br> (a)<br>|
| Licensing fees |  |
| Accounting and administration fees |  |
| Shareholder reporting fees |  |
| Audit and tax fees |  |
| Custodian fees |  |
| Trustees' fees and expenses |  |
| Listing fees |  |
| Transfer agent fees |  |
| Legal fees |  |
| Other expenses |  |
| Total expenses | 151271 |
| Less fees waived and expenses reimbursed by the investment advisor |  |
| Net expenses | 151271 |
| **NET INVESTMENT INCOME (LOSS)** | 358874 |
| **NET REALIZED AND UNREALIZED GAIN (LOSS):** |  |
| Net realized gain (loss) on: |  |
| Investments | (581275)<br>|
| In-kind redemptions | 62620 |
| Foreign currency transactions | (27355)<br>|
| Foreign capital gains tax |  |
| Net realized gain (loss) | (546010)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments | (1765169)<br>|
| Foreign currency translation | (1748)<br>|
| Deferred foreign capital gains tax |  |
| Net change in unrealized appreciation (depreciation) | (1766917)<br>|
| **NET REALIZED AND UNREALIZED GAIN (LOSS)** | (2312927)<br>|
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $(1954053)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Fund
 is subject to a unitary fee (see Note 3 in the Notes to Financial Statements).

See Notes to Financial Statements

------

This page intentionally left blank.

------

**First Trust Exchange-Traded Fund II**

**Statements of Changes in Net Assets** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **First Trust STOXX**<sup>®</sup> **European** <br> **Select Dividend Index Fund** <br> **(FDD)** | **First Trust STOXX**<sup>®</sup> **European** <br> **Select Dividend Index Fund** <br> **(FDD)** | **First Trust Alerian Disruptive** <br> **Technology Real Estate ETF** <br> **(DTRE)** | **First Trust Alerian Disruptive** <br> **Technology Real Estate ETF** <br> **(DTRE)** |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>| **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>|
| **OPERATIONS:** |  |  |  |  |
| Net investment income (loss) | $4364230 | &nbsp;&nbsp; $10088039 | &nbsp;&nbsp; $258004 | &nbsp;&nbsp; $449304 |
| Net realized gain (loss) | 2820412 | &nbsp;&nbsp; (4926756)<br>| &nbsp;&nbsp; 472377 | &nbsp;&nbsp; 367917 |
| Net change in unrealized appreciation (depreciation) | 10616882 | &nbsp;&nbsp; 26851290 | &nbsp;&nbsp; (2421914)<br>| &nbsp;&nbsp; 2666642 |
| Net increase (decrease) in net assets resulting from <br> operations<br>| 17801524 | &nbsp;&nbsp; 32012573 | &nbsp;&nbsp; (1691533)<br>| &nbsp;&nbsp; 3483863 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |
| Investment operations | (4742158)<br>| &nbsp;&nbsp; (10315400)<br>| &nbsp;&nbsp; (375455)<br>| &nbsp;&nbsp; (457041)<br>|
| **SHAREHOLDER TRANSACTIONS:** |  |  |  |  |
| Proceeds from shares sold | 64518787<br>| &nbsp;&nbsp; 608364<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| Cost of shares redeemed | (11459808) <br>| &nbsp;&nbsp; (41850788) <br>| &nbsp;&nbsp; (2009659) <br>| &nbsp;&nbsp; (4113805) <br>|
| Net increase (decrease) in net assets resulting from <br> shareholder transactions<br>| 53058979 | &nbsp;&nbsp; (41242424)<br>| &nbsp;&nbsp; (2009659)<br>| &nbsp;&nbsp; (4113805)<br>|
| Total increase (decrease) in net assets | 66118345 | &nbsp;&nbsp; (19545251)<br>| &nbsp;&nbsp; (4076647)<br>| &nbsp;&nbsp; (1086983)<br>|
| **NET ASSETS:** |  |  |  |  |
| Beginning of period | 159971431 | &nbsp;&nbsp; 179516682 | &nbsp;&nbsp; 19544650 | &nbsp;&nbsp; 20631633 |
| End of period | $226089776 | &nbsp;&nbsp; $159971431 | &nbsp;&nbsp; $15468003 | &nbsp;&nbsp; $19544650 |
| **CHANGES IN SHARES OUTSTANDING:** |  |  |  |  |
| Shares outstanding, beginning of period | 12903334 | &nbsp;&nbsp; 16453334 | &nbsp;&nbsp; 441608 | &nbsp;&nbsp; 541608 |
| Shares sold | 4800000 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Shares redeemed | (1000000)<br>| &nbsp;&nbsp; (3600000)<br>| &nbsp;&nbsp; (50000)<br>| &nbsp;&nbsp; (100000)<br>|
| Shares outstanding, end of period | 16703334 | &nbsp;&nbsp; 12903334 | &nbsp;&nbsp; 391608 | &nbsp;&nbsp; 441608 |

---

See Notes to Financial Statements

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **First Trust Dow Jones Global Select** <br> **Dividend Index Fund (FGD)** | **First Trust Dow Jones Global Select** <br> **Dividend Index Fund (FGD)** | **First Trust Global Wind Energy ETF** <br> **(FAN)** | **First Trust Global Wind Energy ETF** <br> **(FAN)** | **First Trust Alerian U.S. NextGen** <br> **Infrastructure ETF (RBLD)** | **First Trust Alerian U.S. NextGen** <br> **Infrastructure ETF (RBLD)** |
| **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>| **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>| **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>|
| $12061236 | &nbsp;&nbsp; $30958700 | &nbsp;&nbsp; $338541 | &nbsp;&nbsp; $2713090 | &nbsp;&nbsp; $79530 | &nbsp;&nbsp; $119372 |
| 9317700 | &nbsp;&nbsp; (3936134)<br>| &nbsp;&nbsp; (4520392)<br>| &nbsp;&nbsp; 121572 | &nbsp;&nbsp; 139104 | &nbsp;&nbsp; 363096 |
| (13902507)<br>| &nbsp;&nbsp; 100937457 | &nbsp;&nbsp; (27364320)<br>| &nbsp;&nbsp; 41671504 | &nbsp;&nbsp; (498833)<br>| &nbsp;&nbsp; 2195936 |
| 7476429 | &nbsp;&nbsp; 127960023 | &nbsp;&nbsp; (31546171)<br>| &nbsp;&nbsp; 44506166 | &nbsp;&nbsp; (280199)<br>| &nbsp;&nbsp; 2678404 |
| (11794411)<br>| &nbsp;&nbsp; (35000288)<br>| &nbsp;&nbsp; (433450)<br>| &nbsp;&nbsp; (2828785)<br>| &nbsp;&nbsp; (79391)<br>| &nbsp;&nbsp; (120587)<br>|
| 72500267<br>| &nbsp;&nbsp; 18267909<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 3193247<br>| &nbsp;&nbsp; 3344920<br>| &nbsp;&nbsp; —<br>|
| (42569720) <br>| &nbsp;&nbsp; (178536831) <br>| &nbsp;&nbsp; (34157824) <br>| &nbsp;&nbsp; (53618669) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| 29930547 | &nbsp;&nbsp; (160268922)<br>| &nbsp;&nbsp; (34157824)<br>| &nbsp;&nbsp; (50425422)<br>| &nbsp;&nbsp; 3344920 | &nbsp;&nbsp; — |
| 25612565 | &nbsp;&nbsp; (67309187)<br>| &nbsp;&nbsp; (66137445)<br>| &nbsp;&nbsp; (8748041)<br>| &nbsp;&nbsp; 2985330 | &nbsp;&nbsp; 2557817 |
| 566743125 | &nbsp;&nbsp; 634052312 | &nbsp;&nbsp; 196539987 | &nbsp;&nbsp; 205288028 | &nbsp;&nbsp; 10160342 | &nbsp;&nbsp; 7602525 |
| $592355690 | &nbsp;&nbsp; $566743125 | &nbsp;&nbsp; $130402542 | &nbsp;&nbsp; $196539987 | &nbsp;&nbsp; $13145672 | &nbsp;&nbsp; $10160342 |
| 23300002 | &nbsp;&nbsp; 30650002 | &nbsp;&nbsp; 10850002 | &nbsp;&nbsp; 14100002 | &nbsp;&nbsp; 150002 | &nbsp;&nbsp; 150002 |
| 3050000 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp; — | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; — |
| (1800000)<br>| &nbsp;&nbsp; (8200000)<br>| &nbsp;&nbsp; (2200000)<br>| &nbsp;&nbsp; (3450000)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| 24550002 | &nbsp;&nbsp; 23300002 | &nbsp;&nbsp; 8650002 | &nbsp;&nbsp; 10850002 | &nbsp;&nbsp; 200002 | &nbsp;&nbsp; 150002 |

---

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund II**

**Statements of Changes in Net Assets (Continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **First Trust NASDAQ**<sup>®</sup> **Clean** <br> **Edge**<sup>®</sup> **Smart Grid Infrastructure** <br> **Index Fund (GRID)** | **First Trust NASDAQ**<sup>®</sup> **Clean** <br> **Edge**<sup>®</sup> **Smart Grid Infrastructure** <br> **Index Fund (GRID)** | **First Trust Indxx Global Natural** <br> **Resources Income ETF (FTRI)** | **First Trust Indxx Global Natural** <br> **Resources Income ETF (FTRI)** |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>| **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>|
| **OPERATIONS:** |  |  |  |  |
| Net investment income (loss) | $10157647 | &nbsp;&nbsp; $15527465 | &nbsp;&nbsp; $1141743 | &nbsp;&nbsp; $8824446 |
| Net realized gain (loss) | 38941165 | &nbsp;&nbsp; 41194775 | &nbsp;&nbsp; 168103 | &nbsp;&nbsp; (10838217)<br>|
| Net change in unrealized appreciation (depreciation) | (278502399)<br>| &nbsp;&nbsp; 263030568 | &nbsp;&nbsp; (4978582)<br>| &nbsp;&nbsp; 22097247 |
| Net increase (decrease) in net assets resulting from <br> operations<br>| (229403587)<br>| &nbsp;&nbsp; 319752808 | &nbsp;&nbsp; (3668736)<br>| &nbsp;&nbsp; 20083476 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |
| Investment operations | (7117051)<br>| &nbsp;&nbsp; (15201118)<br>| &nbsp;&nbsp; (1212405)<br>| &nbsp;&nbsp; (9644266)<br>|
| **SHAREHOLDER TRANSACTIONS:** |  |  |  |  |
| Proceeds from shares sold | 597662363<br>| &nbsp;&nbsp; 861662450<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| Cost of shares redeemed | (198081085) <br>| &nbsp;&nbsp; (339386890) <br>| &nbsp;&nbsp; (42309857) <br>| &nbsp;&nbsp; (104700880) <br>|
| Net increase (decrease) in net assets resulting from <br> shareholder transactions<br>| 399581278 | &nbsp;&nbsp; 522275560 | &nbsp;&nbsp; (42309857)<br>| &nbsp;&nbsp; (104700880)<br>|
| Total increase (decrease) in net assets | 163060640 | &nbsp;&nbsp; 826827250 | &nbsp;&nbsp; (47190998)<br>| &nbsp;&nbsp; (94261670)<br>|
| **NET ASSETS:** |  |  |  |  |
| Beginning of period | 1846690043 | &nbsp;&nbsp; 1019862793 | &nbsp;&nbsp; 138577561 | &nbsp;&nbsp; 232839231 |
| End of period | $2009750683 | &nbsp;&nbsp; $1846690043 | &nbsp;&nbsp; $91386563 | &nbsp;&nbsp; $138577561 |
| **CHANGES IN SHARES OUTSTANDING:** |  |  |  |  |
| Shares outstanding, beginning of period | 14550002 | &nbsp;&nbsp; 10850002 | &nbsp;&nbsp; 10250002 | &nbsp;&nbsp; 18350002 |
| Shares sold | 4850000 | &nbsp;&nbsp; 7300000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Shares redeemed | (1650000)<br>| &nbsp;&nbsp; (3600000)<br>| &nbsp;&nbsp; (3350000)<br>| &nbsp;&nbsp; (8100000)<br>|
| Shares outstanding, end of period | 17750002 | &nbsp;&nbsp; 14550002 | &nbsp;&nbsp; 6900002 | &nbsp;&nbsp; 10250002 |

---

See Notes to Financial Statements

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **First Trust Indxx Global Agriculture** <br> **ETF (FTAG)** | **First Trust Indxx Global Agriculture** <br> **ETF (FTAG)** | **First Trust Indxx NextG ETF (NXTG)** | **First Trust Indxx NextG ETF (NXTG)** | **First Trust S-Network Future Vehicles** <br> **& Technology ETF (CARZ)** | **First Trust S-Network Future Vehicles** <br> **& Technology ETF (CARZ)** |
| **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>| **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>| **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>|
| $68406 | &nbsp;&nbsp; $219270 | &nbsp;&nbsp; $2552504 | &nbsp;&nbsp; $7894127 | &nbsp;&nbsp; $96981 | &nbsp;&nbsp; $355446 |
| (259942)<br>| &nbsp;&nbsp; (1946382)<br>| &nbsp;&nbsp; 15197069 | &nbsp;&nbsp; 32328254 | &nbsp;&nbsp; (356610)<br>| &nbsp;&nbsp; 53212 |
| (171978)<br>| &nbsp;&nbsp; 1712125 | &nbsp;&nbsp; (26654554)<br>| &nbsp;&nbsp; 64871337 | &nbsp;&nbsp; (2164191)<br>| &nbsp;&nbsp; 5102853 |
| (363514)<br>| &nbsp;&nbsp; (14987)<br>| &nbsp;&nbsp; (8904981)<br>| &nbsp;&nbsp; 105093718 | &nbsp;&nbsp; (2423820)<br>| &nbsp;&nbsp; 5511511 |
| (78648)<br>| &nbsp;&nbsp; (186749)<br>| &nbsp;&nbsp; (2161291)<br>| &nbsp;&nbsp; (7852793)<br>| &nbsp;&nbsp; (158786)<br>| &nbsp;&nbsp; (361081)<br>|
| —<br>| &nbsp;&nbsp; 1229182<br>| &nbsp;&nbsp; 25489227<br>| &nbsp;&nbsp; 40531318<br>| &nbsp;&nbsp; 2971618<br>| &nbsp;&nbsp; —<br>|
| —<br>| &nbsp;&nbsp; (7527316) <br>| &nbsp;&nbsp; (60038843) <br>| &nbsp;&nbsp; (133056018) <br>| &nbsp;&nbsp; (5914517) <br>| &nbsp;&nbsp; (11182612) <br>|
|  | &nbsp;&nbsp; (6298134)<br>| &nbsp;&nbsp; (34549616)<br>| &nbsp;&nbsp; (92524700)<br>| &nbsp;&nbsp; (2942899)<br>| &nbsp;&nbsp; (11182612)<br>|
| (442162)<br>| &nbsp;&nbsp; (6499870)<br>| &nbsp;&nbsp; (45615888)<br>| &nbsp;&nbsp; 4716225 | &nbsp;&nbsp; (5525505)<br>| &nbsp;&nbsp; (6032182)<br>|
| 6269656 | &nbsp;&nbsp; 12769526 | &nbsp;&nbsp; 385646317 | &nbsp;&nbsp; 380930092 | &nbsp;&nbsp; 35140044 | &nbsp;&nbsp; 41172226 |
| $5827494 | &nbsp;&nbsp; $6269656 | &nbsp;&nbsp; $340030429 | &nbsp;&nbsp; $385646317 | &nbsp;&nbsp; $29614539 | &nbsp;&nbsp; $35140044 |
| 239928 | &nbsp;&nbsp; 489928 | &nbsp;&nbsp; 4400002 | &nbsp;&nbsp; 5600002 | &nbsp;&nbsp; 600002 | &nbsp;&nbsp; 800002 |
|  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; (300000)<br>| &nbsp;&nbsp; (700000)<br>| &nbsp;&nbsp; (1700000)<br>| &nbsp;&nbsp; (100000)<br>| &nbsp;&nbsp; (200000)<br>|
| 239928 | &nbsp;&nbsp; 239928 | &nbsp;&nbsp; 4000002 | &nbsp;&nbsp; 4400002 | &nbsp;&nbsp; 550002 | &nbsp;&nbsp; 600002 |

---

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund II**

**Statements of Changes in Net Assets (Continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **First Trust Cloud Computing** <br> **ETF (SKYY)** | **First Trust Cloud Computing** <br> **ETF (SKYY)** | **First Trust International Equity** <br> **Opportunities ETF (FPXI)** | **First Trust International Equity** <br> **Opportunities ETF (FPXI)** |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>| **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>|
| **OPERATIONS:** |  |  |  |  |
| Net investment income (loss) | $(3384262)<br>| &nbsp;&nbsp; $(2760402)<br>| &nbsp;&nbsp; $95738 | &nbsp;&nbsp; $1430963 |
| Net realized gain (loss) | 189881074 | &nbsp;&nbsp; 146801440 | &nbsp;&nbsp; 11965825 | &nbsp;&nbsp; 22949559 |
| Net change in unrealized appreciation (depreciation) | (224866510)<br>| &nbsp;&nbsp; 700097700 | &nbsp;&nbsp; (14895056)<br>| &nbsp;&nbsp; 14957167 |
| Net increase (decrease) in net assets resulting from <br> operations<br>| (38369698)<br>| &nbsp;&nbsp; 844138738 | &nbsp;&nbsp; (2833493)<br>| &nbsp;&nbsp; 39337689 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |
| Investment operations |  | &nbsp;&nbsp; — | &nbsp;&nbsp; (269325)<br>| &nbsp;&nbsp; (1443011)<br>|
| **SHAREHOLDER TRANSACTIONS:** |  |  |  |  |
| Proceeds from shares sold | 408089011<br>| &nbsp;&nbsp; 103479599<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>|
| Cost of shares redeemed | (259663212) <br>| &nbsp;&nbsp; (616130871) <br>| &nbsp;&nbsp; (12476031) <br>| &nbsp;&nbsp; (59878665) <br>|
| Net increase (decrease) in net assets resulting from <br> shareholder transactions<br>| 148425799 | &nbsp;&nbsp; (512651272)<br>| &nbsp;&nbsp; (12476031)<br>| &nbsp;&nbsp; (59878665)<br>|
| Total increase (decrease) in net assets | 110056101 | &nbsp;&nbsp; 331487466 | &nbsp;&nbsp; (15578849)<br>| &nbsp;&nbsp; (21983987)<br>|
| **NET ASSETS:** |  |  |  |  |
| Beginning of period | 2977532478 | &nbsp;&nbsp; 2646045012 | &nbsp;&nbsp; 145506998 | &nbsp;&nbsp; 167490985 |
| End of period | $3087588579 | &nbsp;&nbsp; $2977532478 | &nbsp;&nbsp; $129928149 | &nbsp;&nbsp; $145506998 |
| **CHANGES IN SHARES OUTSTANDING:** |  |  |  |  |
| Shares outstanding, beginning of period | 29100002 | &nbsp;&nbsp; 34850002 | &nbsp;&nbsp; 3000002 | &nbsp;&nbsp; 4350002 |
| Shares sold | 3350000 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Shares redeemed | (2250000)<br>| &nbsp;&nbsp; (6900000)<br>| &nbsp;&nbsp; (250000)<br>| &nbsp;&nbsp; (1350000)<br>|
| Shares outstanding, end of period | 30200002 | &nbsp;&nbsp; 29100002 | &nbsp;&nbsp; 2750002 | &nbsp;&nbsp; 3000002 |

---

See Notes to Financial Statements

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **First Trust Nasdaq Cybersecurity ETF** <br> **(CIBR)** | **First Trust Nasdaq Cybersecurity ETF** <br> **(CIBR)** | **First Trust IPOX**<sup>®</sup> **Europe Equity** <br> **Opportunities ETF (FPXE)** | **First Trust IPOX**<sup>®</sup> **Europe Equity** <br> **Opportunities ETF (FPXE)** | **First Trust Dow Jones International** <br> **Internet ETF (FDNI)** | **First Trust Dow Jones International** <br> **Internet ETF (FDNI)** |
| **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>| **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>| **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>|
| $9906116 | &nbsp;&nbsp; $30861937 | &nbsp;&nbsp; $11921 | &nbsp;&nbsp; $74577 | &nbsp;&nbsp; $(80446)<br>| &nbsp;&nbsp; $37305 |
| 85521531 | &nbsp;&nbsp; 409020179 | &nbsp;&nbsp; 184637 | &nbsp;&nbsp; 594648 | &nbsp;&nbsp; 1121527 | &nbsp;&nbsp; (1123143)<br>|
| 295877127 | &nbsp;&nbsp; 1105820122 | &nbsp;&nbsp; (319651)<br>| &nbsp;&nbsp; 560525 | &nbsp;&nbsp; 724878 | &nbsp;&nbsp; 12620241 |
| 391304774 | &nbsp;&nbsp; 1545702238 | &nbsp;&nbsp; (123093)<br>| &nbsp;&nbsp; 1229750 | &nbsp;&nbsp; 1765959 | &nbsp;&nbsp; 11534403 |
| (9875285)<br>| &nbsp;&nbsp; (29884371)<br>| &nbsp;&nbsp; (18900)<br>| &nbsp;&nbsp; (101436)<br>| &nbsp;&nbsp; (310800)<br>| &nbsp;&nbsp; (76231)<br>|
| 911544216<br>| &nbsp;&nbsp; 1414089973<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 5004235<br>| &nbsp;&nbsp; 7096675<br>|
| (19730841) <br>| &nbsp;&nbsp; (1292531299) <br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1287272) <br>| &nbsp;&nbsp; (9153492) <br>| &nbsp;&nbsp; (3451263) <br>|
| 891813375 | &nbsp;&nbsp; 121558674 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1287272)<br>| &nbsp;&nbsp; (4149257)<br>| &nbsp;&nbsp; 3645412 |
| 1273242864 | &nbsp;&nbsp; 1637376541 | &nbsp;&nbsp; (141993)<br>| &nbsp;&nbsp; (158958)<br>| &nbsp;&nbsp; (2694098)<br>| &nbsp;&nbsp; 15103584 |
| 6601960374 | &nbsp;&nbsp; 4964583833 | &nbsp;&nbsp; 4005212 | &nbsp;&nbsp; 4164170 | &nbsp;&nbsp; 41311383 | &nbsp;&nbsp; 26207799 |
| $7875203238 | &nbsp;&nbsp; $6601960374 | &nbsp;&nbsp; $3863219 | &nbsp;&nbsp; $4005212 | &nbsp;&nbsp; $38617285 | &nbsp;&nbsp; $41311383 |
| 111350002 | &nbsp;&nbsp; 109250002 | &nbsp;&nbsp; 150002 | &nbsp;&nbsp; 200002 | &nbsp;&nbsp; 1400002 | &nbsp;&nbsp; 1250002 |
| 13900000 | &nbsp;&nbsp; 25150000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 300000 |
| (300000)<br>| &nbsp;&nbsp; (23050000)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (50000)<br>| &nbsp;&nbsp; (300000)<br>| &nbsp;&nbsp; (150000)<br>|
| 124950002 | &nbsp;&nbsp; 111350002 | &nbsp;&nbsp; 150002 | &nbsp;&nbsp; 150002 | &nbsp;&nbsp; 1250002 | &nbsp;&nbsp; 1400002 |

---

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund II**

**Statements of Changes in Net Assets (Continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **First Trust Bloomberg Emerging** <br> **Market Democracies ETF** <br> **(EMDM)** | **First Trust Bloomberg Emerging** <br> **Market Democracies ETF** <br> **(EMDM)** | **First Trust Emerging Markets** <br> **Human Flourishing ETF (FTHF)** | **First Trust Emerging Markets** <br> **Human Flourishing ETF (FTHF)** |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>| **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Period** <br>**Ended** <br>**9/30/2024 (a)**<br>|
| **OPERATIONS:** |  |  |  |  |
| Net investment income (loss) | $80133 | &nbsp;&nbsp; $180972 | &nbsp;&nbsp; $358874 | &nbsp;&nbsp; $1123285 |
| Net realized gain (loss) | 89925 | &nbsp;&nbsp; (148687)<br>| &nbsp;&nbsp; (546010)<br>| &nbsp;&nbsp; (337761)<br>|
| Net change in unrealized appreciation (depreciation) | (583517)<br>| &nbsp;&nbsp; 1237191 | &nbsp;&nbsp; (1766917)<br>| &nbsp;&nbsp; 2423238 |
| Net increase (decrease) in net assets resulting from <br> operations<br>| (413459)<br>| &nbsp;&nbsp; 1269476 | &nbsp;&nbsp; (1954053)<br>| &nbsp;&nbsp; 3208762 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |
| Investment operations | (296557)<br>| &nbsp;&nbsp; (160950)<br>| &nbsp;&nbsp; (457586)<br>| &nbsp;&nbsp; (867321)<br>|
| **SHAREHOLDER TRANSACTIONS:** |  |  |  |  |
| Proceeds from shares sold | —<br>| &nbsp;&nbsp; 4242136<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; 41701207<br>|
| Cost of shares redeemed | —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (1107851) <br>| &nbsp;&nbsp; (1218965) <br>|
| Net increase (decrease) in net assets resulting from <br> shareholder transactions<br>|  | &nbsp;&nbsp; 4242136 | &nbsp;&nbsp; (1107851)<br>| &nbsp;&nbsp; 40482242 |
| Total increase (decrease) in net assets | (710016)<br>| &nbsp;&nbsp; 5350662 | &nbsp;&nbsp; (3519490)<br>| &nbsp;&nbsp; 42823683 |
| **NET ASSETS:** |  |  |  |  |
| Beginning of period | 8299720 | &nbsp;&nbsp; 2949058 | &nbsp;&nbsp; 42823683 | &nbsp;&nbsp; — |
| End of period | $7589704 | &nbsp;&nbsp; $8299720 | &nbsp;&nbsp; $39304193 | &nbsp;&nbsp; $42823683 |
| **CHANGES IN SHARES OUTSTANDING:** |  |  |  |  |
| Shares outstanding, beginning of period | 350002 | &nbsp;&nbsp; 150002 | &nbsp;&nbsp; 1800002 | &nbsp;&nbsp; — |
| Shares sold |  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1850002 |
| Shares redeemed |  | &nbsp;&nbsp; — | &nbsp;&nbsp; (50000)<br>| &nbsp;&nbsp; (50000)<br>|
| Shares outstanding, end of period | 350002 | &nbsp;&nbsp; 350002 | &nbsp;&nbsp; 1750002 | &nbsp;&nbsp; 1800002 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Inception
 date is October 30, 2023, which is consistent with the commencement of investment operations and is the date the initial creation
 units were established.

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights**

**For a share outstanding throughout each period**

**First Trust STOXX**<sup>®</sup> **European Select Dividend Index Fund (FDD)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of period | $12.40 | &nbsp;&nbsp;&nbsp;&nbsp; $10.91 | &nbsp;&nbsp;&nbsp;&nbsp; $9.39 | &nbsp;&nbsp;&nbsp;&nbsp; $13.88 | &nbsp;&nbsp;&nbsp;&nbsp; $10.27 | &nbsp;&nbsp;&nbsp;&nbsp; $12.75 |
| **Income from investment operations:** |  |  |  |  |  |  |
| Net investment income (loss)  | 0.34<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.72<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.78<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.73<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.52<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.52<br>|
| Net realized and unrealized gain (loss) | 1.15<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.52<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.44<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4.52) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.61<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2.50) <br>|
| Total from investment operations | 1.49 | &nbsp;&nbsp;&nbsp;&nbsp;2.24 | &nbsp;&nbsp;&nbsp;&nbsp;2.22 | &nbsp;&nbsp;&nbsp;&nbsp; (3.79)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.13 | &nbsp;&nbsp;&nbsp;&nbsp; (1.98)<br>|
| **Distributions paid to shareholders from:** |  |  |  |  |  |  |
| Net investment income | (0.35) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.75) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.70) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.70) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.52) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.50) <br>|
| Net asset value, end of period | $13.54<br>| &nbsp;&nbsp;&nbsp;&nbsp; $12.40<br>| &nbsp;&nbsp;&nbsp;&nbsp; $10.91<br>| &nbsp;&nbsp;&nbsp;&nbsp; $9.39<br>| &nbsp;&nbsp;&nbsp;&nbsp; $13.88<br>| &nbsp;&nbsp;&nbsp;&nbsp; $10.27<br>|
| **Total return** (b) | 12.48<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 20.98<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 23.52<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (27.88)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 40.19<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (15.64)% <br>|
| **Ratios to average net assets/supplemental** <br> **data:**<br>|  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $226090<br>| &nbsp;&nbsp;&nbsp;&nbsp; $159971<br>| &nbsp;&nbsp;&nbsp;&nbsp; $179517<br>| &nbsp;&nbsp;&nbsp;&nbsp; $161050<br>| &nbsp;&nbsp;&nbsp;&nbsp; $286031<br>| &nbsp;&nbsp;&nbsp;&nbsp; $180227<br>|
| Ratio of total expenses to average net assets | 0.59<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.59<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.59<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.58<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.58<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.57<br> % <br>|
| Ratio of net investment income (loss) to <br> average net assets<br>| 5.59<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.11<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.82<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.36<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.06<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.84<br> % <br>|
| Portfolio turnover rate (d) | 23<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 43<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 49<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 57<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 58<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 98<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Alerian Disruptive Technology Real Estate ETF (DTRE)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of period | $44.26 | &nbsp;&nbsp;&nbsp;&nbsp; $38.09 | &nbsp;&nbsp;&nbsp;&nbsp; $37.45 | &nbsp;&nbsp;&nbsp;&nbsp; $50.11 | &nbsp;&nbsp;&nbsp;&nbsp; $38.82 | &nbsp;&nbsp;&nbsp;&nbsp; $49.44 |
| **Income from investment operations:** |  |  |  |  |  |  |
| Net investment income (loss)  | 0.59<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.94<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.05<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.89<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.89<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.62<br>|
| Net realized and unrealized gain (loss) | (4.50) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.17<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.63<br>| &nbsp;&nbsp;&nbsp;&nbsp; (11.90) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.74<br>| &nbsp;&nbsp;&nbsp;&nbsp; (9.27) <br>|
| Total from investment operations | (3.91)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.11 | &nbsp;&nbsp;&nbsp;&nbsp;1.68 | &nbsp;&nbsp;&nbsp;&nbsp; (11.01)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11.63 | &nbsp;&nbsp;&nbsp;&nbsp; (8.65)<br>|
| **Distributions paid to shareholders from:** |  |  |  |  |  |  |
| Net investment income | (0.85) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.94) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.04) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.65) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.34) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.97) <br>|
| Net asset value, end of period | $39.50<br>| &nbsp;&nbsp;&nbsp;&nbsp; $44.26<br>| &nbsp;&nbsp;&nbsp;&nbsp; $38.09<br>| &nbsp;&nbsp;&nbsp;&nbsp; $37.45<br>| &nbsp;&nbsp;&nbsp;&nbsp; $50.11<br>| &nbsp;&nbsp;&nbsp;&nbsp; $38.82<br>|
| **Total return** (b) | (8.75)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 18.88<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.42<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (22.72)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 29.95<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (18.12)% <br>|
| **Ratios to average net assets/supplemental data:** |  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $15468<br>| &nbsp;&nbsp;&nbsp;&nbsp; $19545<br>| &nbsp;&nbsp;&nbsp;&nbsp; $20632<br>| &nbsp;&nbsp;&nbsp;&nbsp; $24030<br>| &nbsp;&nbsp;&nbsp;&nbsp; $34657<br>| &nbsp;&nbsp;&nbsp;&nbsp; $32671<br>|
| Ratio of total expenses to average net assets | 0.60<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.96<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.92<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.85<br> % <br>|
| Ratio of net expenses to average net assets | 0.60<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>|
| Ratio of net investment income (loss) to average net <br> assets<br>| 2.97<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.31<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.61<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.08<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.21<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.52<br> % <br>|
| Portfolio turnover rate (d) | 18<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 28<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 39<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 70<br> % (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 11<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 7<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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. The total returns would have been lower if certain fees
 had not been waived and expenses reimbursed by the investment advisor.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(e) The
 variation in the portfolio turnover rate is due to the change in the Fund's underlying index effective September 30, 2022, which
 resulted in a complete
 rebalance of the Fund's portfolio.

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Dow Jones Global Select Dividend Index Fund (FGD)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of period | $24.32 | &nbsp;&nbsp;&nbsp;&nbsp; $20.69 | &nbsp;&nbsp;&nbsp;&nbsp; $18.56 | &nbsp;&nbsp;&nbsp;&nbsp; $24.97 | &nbsp;&nbsp;&nbsp;&nbsp; $17.85 | &nbsp;&nbsp;&nbsp;&nbsp; $22.90 |
| **Income from investment operations:** |  |  |  |  |  |  |
| Net investment income (loss)  | 0.51<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.21<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.48<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.33<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.22<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.30<br>|
| Net realized and unrealized gain (loss) | (0.21) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.81<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.00<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6.38) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.10<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5.04) <br>|
| Total from investment operations | 0.30 | &nbsp;&nbsp;&nbsp;&nbsp;5.02 | &nbsp;&nbsp;&nbsp;&nbsp;3.48 | &nbsp;&nbsp;&nbsp;&nbsp; (5.05)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.32 | &nbsp;&nbsp;&nbsp;&nbsp; (3.74)<br>|
| **Distributions paid to shareholders from:** |  |  |  |  |  |  |
| Net investment income | (0.49) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.39) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.35) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.36) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.20) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.31) <br>|
| Net asset value, end of period | $24.13<br>| &nbsp;&nbsp;&nbsp;&nbsp; $24.32<br>| &nbsp;&nbsp;&nbsp;&nbsp; $20.69<br>| &nbsp;&nbsp;&nbsp;&nbsp; $18.56<br>| &nbsp;&nbsp;&nbsp;&nbsp; $24.97<br>| &nbsp;&nbsp;&nbsp;&nbsp; $17.85<br>|
| **Total return** (b) | 1.37<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 24.83<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 18.65<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (20.98)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 46.94<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (16.33)% <br>|
| **Ratios to average net assets/supplemental** <br> **data:**<br>|  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $592356<br>| &nbsp;&nbsp;&nbsp;&nbsp; $566743<br>| &nbsp;&nbsp;&nbsp;&nbsp; $634052<br>| &nbsp;&nbsp;&nbsp;&nbsp; $495576<br>| &nbsp;&nbsp;&nbsp;&nbsp; $504454<br>| &nbsp;&nbsp;&nbsp;&nbsp; $344489<br>|
| Ratio of total expenses to average net assets | 0.56<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.57<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.57<br> % <br>|
| Ratio of net investment income (loss) to <br> average net assets<br>| 4.34<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.42<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.79<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.74<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.11<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.16<br> % <br>|
| Portfolio turnover rate (d) | 37<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 36<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 40<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 35<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 38<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 67<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Global Wind Energy ETF (FAN)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of period | $18.11 | &nbsp;&nbsp;&nbsp;&nbsp; $14.56 | &nbsp;&nbsp;&nbsp;&nbsp; $15.15 | &nbsp;&nbsp;&nbsp;&nbsp; $20.92 | &nbsp;&nbsp;&nbsp;&nbsp; $17.45 | &nbsp;&nbsp;&nbsp;&nbsp; $13.13 |
| **Income from investment operations:** |  |  |  |  |  |  |
| Net investment income (loss)  | 0.03<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.22<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.28<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.28<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.26<br>|
| Net realized and unrealized gain (loss) | (3.01) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.57<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.58) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (5.75) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.52<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.33<br>|
| Total from investment operations | (2.98)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.79 | &nbsp;&nbsp;&nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5.50)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.80 | &nbsp;&nbsp;&nbsp;&nbsp;4.59 |
| **Distributions paid to shareholders from:** |  |  |  |  |  |  |
| Net investment income | (0.05) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.24) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.29) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.27) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.33) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.27) <br>|
| Net asset value, end of period | $15.08<br>| &nbsp;&nbsp;&nbsp;&nbsp; $18.11<br>| &nbsp;&nbsp;&nbsp;&nbsp; $14.56<br>| &nbsp;&nbsp;&nbsp;&nbsp; $15.15<br>| &nbsp;&nbsp;&nbsp;&nbsp; $20.92<br>| &nbsp;&nbsp;&nbsp;&nbsp; $17.45<br>|
| **Total return** (b) | (16.47)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 26.18<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (2.21)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; (26.43)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 21.76<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 35.42<br> % <br>|
| **Ratios to average net assets/supplemental** <br> **data:**<br>|  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $130403<br>| &nbsp;&nbsp;&nbsp;&nbsp; $196540<br>| &nbsp;&nbsp;&nbsp;&nbsp; $205288<br>| &nbsp;&nbsp;&nbsp;&nbsp; $243931<br>| &nbsp;&nbsp;&nbsp;&nbsp; $385920<br>| &nbsp;&nbsp;&nbsp;&nbsp; $205075<br>|
| Ratio of total expenses to average net assets | 0.66<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.67<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.64<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.61<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.62<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.66<br> % <br>|
| Ratio of net expenses to average net assets | 0.60<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>|
| Ratio of net investment income (loss) to <br> average net assets<br>| 0.44<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.39<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.64<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.28<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.34<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.86<br> % <br>|
| Portfolio turnover rate (d) | 14<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 20<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 25<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 21<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 31<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 42<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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. The total returns would have been lower if certain fees
 had not been waived and expenses reimbursed by the investment advisor.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Alerian U.S. NextGen Infrastructure ETF (RBLD)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of period | $67.73 | &nbsp;&nbsp;&nbsp;&nbsp; $50.68 | &nbsp;&nbsp;&nbsp;&nbsp; $43.42 | &nbsp;&nbsp;&nbsp;&nbsp; $53.95 | &nbsp;&nbsp;&nbsp;&nbsp; $42.07 | &nbsp;&nbsp;&nbsp;&nbsp; $47.05 |
| **Income from investment operations:** |  |  |  |  |  |  |
| Net investment income (loss)  | 0.45<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.67<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.01<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.87<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.28<br>|
| Net realized and unrealized gain (loss) | (1.97) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 17.05<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.24<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10.50) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 11.79<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4.93) <br>|
| Total from investment operations | (1.52)<br>| &nbsp;&nbsp;&nbsp;&nbsp;17.85 | &nbsp;&nbsp;&nbsp;&nbsp;7.91 | &nbsp;&nbsp;&nbsp;&nbsp; (9.49)<br>| &nbsp;&nbsp;&nbsp;&nbsp;12.66 | &nbsp;&nbsp;&nbsp;&nbsp; (3.65)<br>|
| **Distributions paid to shareholders from:** |  |  |  |  |  |  |
| Net investment income | (0.48) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.80) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.65) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.04) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.78) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.33) <br>|
| Net asset value, end of period | $65.73<br>| &nbsp;&nbsp;&nbsp;&nbsp; $67.73<br>| &nbsp;&nbsp;&nbsp;&nbsp; $50.68<br>| &nbsp;&nbsp;&nbsp;&nbsp; $43.42<br>| &nbsp;&nbsp;&nbsp;&nbsp; $53.95<br>| &nbsp;&nbsp;&nbsp;&nbsp; $42.07<br>|
| **Total return** (b) | (2.25)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 35.42<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 18.23<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (17.80)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 30.19<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (7.52)% <br>|
| **Ratios to average net assets/supplemental data:** |  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $13146<br>| &nbsp;&nbsp;&nbsp;&nbsp; $10160<br>| &nbsp;&nbsp;&nbsp;&nbsp; $7603<br>| &nbsp;&nbsp;&nbsp;&nbsp; $8685<br>| &nbsp;&nbsp;&nbsp;&nbsp; $10790<br>| &nbsp;&nbsp;&nbsp;&nbsp; $6310<br>|
| Ratio of total expenses to average net assets | 0.65<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.65<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.65<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.86<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.42<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.43<br> % <br>|
| Ratio of net expenses to average net assets | 0.65<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.65<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.65<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.69<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>|
| Ratio of net investment income (loss) to average net <br> assets<br>| 1.32<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.35<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.33<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.68<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.81<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.68<br> % <br>|
| Portfolio turnover rate (d) | 12<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 26<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 32<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 92<br> % (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 18<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 20<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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. The total returns would have been lower if certain fees
 had not been waived and expenses reimbursed by the investment advisor.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(e) The
 variation in the portfolio turnover rate is due to the change in the Fund's underlying index effective July 29, 2022, which resulted
 in a complete
 rebalance of the Fund's portfolio.

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust NASDAQ**<sup>®</sup> **Clean Edge**<sup>®</sup> **Smart Grid Infrastructure Index Fund (GRID)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of period | $126.92 | &nbsp;&nbsp;&nbsp;&nbsp; $94.00 | &nbsp;&nbsp;&nbsp;&nbsp; $75.30 | &nbsp;&nbsp;&nbsp;&nbsp; $92.48 | &nbsp;&nbsp;&nbsp;&nbsp; $62.87 | &nbsp;&nbsp;&nbsp;&nbsp; $49.51 |
| **Income from investment operations:** |  |  |  |  |  |  |
| Net investment income (loss)  | 0.60<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.51<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.27<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.93<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.64<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.58<br>|
| Net realized and unrealized gain (loss) | (13.88) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 32.76<br>| &nbsp;&nbsp;&nbsp;&nbsp; 18.64<br>| &nbsp;&nbsp;&nbsp;&nbsp; (17.24) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 29.73<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13.27<br>|
| Total from investment operations | (13.28)<br>| &nbsp;&nbsp;&nbsp;&nbsp;34.27 | &nbsp;&nbsp;&nbsp;&nbsp;19.91 | &nbsp;&nbsp;&nbsp;&nbsp; (16.31)<br>| &nbsp;&nbsp;&nbsp;&nbsp;30.37 | &nbsp;&nbsp;&nbsp;&nbsp;13.85 |
| **Distributions paid to shareholders** <br> **from:**<br>|  |  |  |  |  |  |
| Net investment income | (0.41) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.35) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.21) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.87) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.76) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.49) <br>|
| Net asset value, end of period | $113.23<br>| &nbsp;&nbsp;&nbsp;&nbsp; $126.92<br>| &nbsp;&nbsp;&nbsp;&nbsp; $94.00<br>| &nbsp;&nbsp;&nbsp;&nbsp; $75.30<br>| &nbsp;&nbsp;&nbsp;&nbsp; $92.48<br>| &nbsp;&nbsp;&nbsp;&nbsp; $62.87<br>|
| **Total return** (b) | (10.47)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 36.62<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 26.39<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (17.70)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 48.35<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 28.10<br> % <br>|
| **Ratios to average net** <br> **assets/supplemental data:**<br>|  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $2009751<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1846690<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1019863<br>| &nbsp;&nbsp;&nbsp;&nbsp; $538430<br>| &nbsp;&nbsp;&nbsp;&nbsp; $550262<br>| &nbsp;&nbsp;&nbsp;&nbsp; $56579<br>|
| Ratio of total expenses to average net <br> assets<br>| 0.56<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.57<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.58<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.63<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75<br> % <br>|
| Ratio of net expenses to average net assets | 0.56<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.57<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.58<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.63<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>|
| Ratio of net investment income (loss) to <br> average net assets<br>| 0.99<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.37<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.34<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.02<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.11<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.30<br> % <br>|
| Portfolio turnover rate (d) | 9<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 13<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 23<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 33<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 20<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 53<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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. The total returns would have been lower if certain fees
 had not been waived and expenses reimbursed by the investment advisor.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Indxx Global Natural Resources Income ETF (FTRI)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of period | $13.52 | &nbsp;&nbsp;&nbsp;&nbsp; $12.69 | &nbsp;&nbsp;&nbsp;&nbsp; $12.22 | &nbsp;&nbsp;&nbsp;&nbsp; $12.97 | &nbsp;&nbsp;&nbsp;&nbsp; $9.57 | &nbsp;&nbsp;&nbsp;&nbsp; $11.47 |
| **Income from investment operations:** |  |  |  |  |  |  |
| Net investment income (loss)  | 0.13<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.79<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.17<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53<br>|
| Net realized and unrealized gain (loss) | (0.27) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.91<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.46<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.67) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.29<br> (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.86) <br>|
| Total from investment operations | (0.14)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.51 | &nbsp;&nbsp;&nbsp;&nbsp;1.25 | &nbsp;&nbsp;&nbsp;&nbsp;0.50 | &nbsp;&nbsp;&nbsp;&nbsp;4.09 | &nbsp;&nbsp;&nbsp;&nbsp; (1.33)<br>|
| **Distributions paid to shareholders from:** |  |  |  |  |  |  |
| Net investment income | (0.14) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.68) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.78) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.25) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.69) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.57) <br>|
| Net asset value, end of period | $13.24<br>| &nbsp;&nbsp;&nbsp;&nbsp; $13.52<br>| &nbsp;&nbsp;&nbsp;&nbsp; $12.69<br>| &nbsp;&nbsp;&nbsp;&nbsp; $12.22<br>| &nbsp;&nbsp;&nbsp;&nbsp; $12.97<br>| &nbsp;&nbsp;&nbsp;&nbsp; $9.57<br>|
| **Total return** (c) | (0.99)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.11<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.17<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.27<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 42.87<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (11.80)% <br>|
| **Ratios to average net assets/supplemental** <br> **data:**<br>|  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $91387<br>| &nbsp;&nbsp;&nbsp;&nbsp; $138578<br>| &nbsp;&nbsp;&nbsp;&nbsp; $232839<br>| &nbsp;&nbsp;&nbsp;&nbsp; $199747<br>| &nbsp;&nbsp;&nbsp;&nbsp; $36312<br>| &nbsp;&nbsp;&nbsp;&nbsp; $5740<br>|
| Ratio of total expenses to average net assets | 0.70<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>|
| Ratio of net investment income (loss) to average <br> net assets<br>| 2.01<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.93<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 11.85<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 9.06<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.94<br> % <br>|
| Portfolio turnover rate (e) | 4<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 71<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 82<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 69<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 99<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 66<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Indxx Global Agriculture ETF (FTAG)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of period | $26.13 | &nbsp;&nbsp;&nbsp;&nbsp; $26.06 | &nbsp;&nbsp;&nbsp;&nbsp; $26.63 | &nbsp;&nbsp;&nbsp;&nbsp; $29.53 | &nbsp;&nbsp;&nbsp;&nbsp; $21.73 | &nbsp;&nbsp;&nbsp;&nbsp; $22.87 |
| **Income from investment operations:** |  |  |  |  |  |  |
| Net investment income (loss)  | 0.29<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.58<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.76<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.45<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.45<br>|
| Net realized and unrealized gain (loss) | (1.80) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.01) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.37) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2.97) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.78<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.20) <br>|
| Total from investment operations | (1.51)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.57 | &nbsp;&nbsp;&nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;&nbsp; (2.41)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.23 | &nbsp;&nbsp;&nbsp;&nbsp; (0.75)<br>|
| **Distributions paid to shareholders from:** |  |  |  |  |  |  |
| Net investment income | (0.33) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.50) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.96) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.49) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.43) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.39) <br>|
| Net asset value, end of period | $24.29<br>| &nbsp;&nbsp;&nbsp;&nbsp; $26.13<br>| &nbsp;&nbsp;&nbsp;&nbsp; $26.06<br>| &nbsp;&nbsp;&nbsp;&nbsp; $26.63<br>| &nbsp;&nbsp;&nbsp;&nbsp; $29.53<br>| &nbsp;&nbsp;&nbsp;&nbsp; $21.73<br>|
| **Total return** (c) | (5.74)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.27<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.35<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (8.28)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 37.94<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (3.19)% <br>|
| **Ratios to average net assets/supplemental data:** |  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $5827<br>| &nbsp;&nbsp;&nbsp;&nbsp; $6270<br>| &nbsp;&nbsp;&nbsp;&nbsp; $12770<br>| &nbsp;&nbsp;&nbsp;&nbsp; $22370<br>| &nbsp;&nbsp;&nbsp;&nbsp; $5609<br>| &nbsp;&nbsp;&nbsp;&nbsp; $3040<br>|
| Ratio of total expenses to average net assets | 0.70<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>|
| Ratio of net investment income (loss) to average net <br> assets<br>| 2.33<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.30<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.66<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.50<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.84<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.16<br> % <br>|
| Portfolio turnover rate (e) | 8<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 11<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 14<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 26<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 12<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 17<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Indxx NextG ETF (NXTG)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of period | $87.65 | &nbsp;&nbsp;&nbsp;&nbsp; $68.02 | &nbsp;&nbsp;&nbsp;&nbsp; $55.75 | &nbsp;&nbsp;&nbsp;&nbsp; $76.44 | &nbsp;&nbsp;&nbsp;&nbsp; $59.05 | &nbsp;&nbsp;&nbsp;&nbsp; $50.26 |
| **Income from investment operations:** |  |  |  |  |  |  |
| Net investment income (loss)  | 0.60<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.59<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.23<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.72<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.95<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.69<br>|
| Net realized and unrealized gain (loss) | (2.73) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 19.65<br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.14<br>| &nbsp;&nbsp;&nbsp;&nbsp; (20.13) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 17.10<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.79<br>|
| Total from investment operations | (2.13)<br>| &nbsp;&nbsp;&nbsp;&nbsp;21.24 | &nbsp;&nbsp;&nbsp;&nbsp;13.37 | &nbsp;&nbsp;&nbsp;&nbsp; (18.41)<br>| &nbsp;&nbsp;&nbsp;&nbsp;18.05 | &nbsp;&nbsp;&nbsp;&nbsp;9.48 |
| **Distributions paid to shareholders from:** |  |  |  |  |  |  |
| Net investment income | (0.51) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.61) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.10) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.88) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.62) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.69) <br>|
| Net realized gain | —<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.40) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.04) <br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Total distributions | (0.51) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.61) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.10) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (2.28) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.66) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.69) <br>|
| Net asset value, end of period | $85.01<br>| &nbsp;&nbsp;&nbsp;&nbsp; $87.65<br>| &nbsp;&nbsp;&nbsp;&nbsp; $68.02<br>| &nbsp;&nbsp;&nbsp;&nbsp; $55.75<br>| &nbsp;&nbsp;&nbsp;&nbsp; $76.44<br>| &nbsp;&nbsp;&nbsp;&nbsp; $59.05<br>|
| **Total return** (b) | (2.44)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 31.44<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 24.01<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (24.71)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 30.62<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 18.97<br> % <br>|
| **Ratios to average net assets/supplemental** <br> **data:**<br>|  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $340030<br>| &nbsp;&nbsp;&nbsp;&nbsp; $385646<br>| &nbsp;&nbsp;&nbsp;&nbsp; $380930<br>| &nbsp;&nbsp;&nbsp;&nbsp; $471056<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1081610<br>| &nbsp;&nbsp;&nbsp;&nbsp; $590535<br>|
| Ratio of total expenses to average net assets | 0.70<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>|
| Ratio of net investment income (loss) to <br> average net assets<br>| 1.38<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.05<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.86<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.12<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.42<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.52<br> % <br>|
| Portfolio turnover rate (d) | 8<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 17<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 14<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 21<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 27<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 30<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust S-Network Future Vehicles & Technology ETF (CARZ)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of period | $58.57 | &nbsp;&nbsp;&nbsp;&nbsp; $51.47 | &nbsp;&nbsp;&nbsp;&nbsp; $40.41 | &nbsp;&nbsp;&nbsp;&nbsp; $58.17 | &nbsp;&nbsp;&nbsp;&nbsp; $39.00 | &nbsp;&nbsp;&nbsp;&nbsp; $32.04 |
| **Income from investment operations:** |  |  |  |  |  |  |
| Net investment income (loss)  | 0.18<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.69<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.38<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.34<br>|
| Net realized and unrealized gain (loss) | (4.62) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.12<br>| &nbsp;&nbsp;&nbsp;&nbsp; 11.18<br>| &nbsp;&nbsp;&nbsp;&nbsp; (17.67) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 19.04<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.07<br>|
| Total from investment operations | (4.44)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.65 | &nbsp;&nbsp;&nbsp;&nbsp;11.87 | &nbsp;&nbsp;&nbsp;&nbsp; (16.29)<br>| &nbsp;&nbsp;&nbsp;&nbsp;19.64 | &nbsp;&nbsp;&nbsp;&nbsp;7.41 |
| **Distributions paid to shareholders from:** |  |  |  |  |  |  |
| Net investment income | (0.29) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.55) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.81) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.47) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.47) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.45) <br>|
| Net asset value, end of period | $53.84<br>| &nbsp;&nbsp;&nbsp;&nbsp; $58.57<br>| &nbsp;&nbsp;&nbsp;&nbsp; $51.47<br>| &nbsp;&nbsp;&nbsp;&nbsp; $40.41<br>| &nbsp;&nbsp;&nbsp;&nbsp; $58.17<br>| &nbsp;&nbsp;&nbsp;&nbsp; $39.00<br>|
| **Total return** (b) | (7.62)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 14.87<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 29.47<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (28.66)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 50.43<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 23.33<br> % <br>|
| **Ratios to average net assets/supplemental data:** |  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $29615<br>| &nbsp;&nbsp;&nbsp;&nbsp; $35140<br>| &nbsp;&nbsp;&nbsp;&nbsp; $41172<br>| &nbsp;&nbsp;&nbsp;&nbsp; $40415<br>| &nbsp;&nbsp;&nbsp;&nbsp; $63989<br>| &nbsp;&nbsp;&nbsp;&nbsp; $29246<br>|
| Ratio of total expenses to average net assets | 0.70<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>|
| Ratio of net investment income (loss) to average net <br> assets<br>| 0.60<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.94<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.41<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.57<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.17<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.09<br> % <br>|
| Portfolio turnover rate (d) | 27<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 32<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 39<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 133<br> % (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 42<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 36<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(e) The
 variation in the portfolio turnover rate is due to the change in the Fund's underlying index effective January 26, 2022, which resulted
 in a complete
 rebalance of the Fund's portfolio.

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Cloud Computing ETF (SKYY)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of <br> period<br>| $102.32 | &nbsp;&nbsp;&nbsp;&nbsp; $75.93 | &nbsp;&nbsp;&nbsp;&nbsp; $60.30 | &nbsp;&nbsp;&nbsp;&nbsp; $105.40 | &nbsp;&nbsp;&nbsp;&nbsp; $78.48 | &nbsp;&nbsp;&nbsp;&nbsp; $56.39 |
| **Income from investment** <br> **operations:**<br>|  |  |  |  |  |  |
| Net investment income (loss)  | (0.11) (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.09) (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.05) (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.79<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.16<br>|
| Net realized and unrealized gain <br> (loss)<br>| 0.03<br> (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 26.48<br>| &nbsp;&nbsp;&nbsp;&nbsp; 15.68<br>| &nbsp;&nbsp;&nbsp;&nbsp; (45.08) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 26.95<br>| &nbsp;&nbsp;&nbsp;&nbsp; 22.10<br>|
| Total from investment operations | (0.08)<br>| &nbsp;&nbsp;&nbsp;&nbsp;26.39 | &nbsp;&nbsp;&nbsp;&nbsp;15.63 | &nbsp;&nbsp;&nbsp;&nbsp; (44.29)<br>| &nbsp;&nbsp;&nbsp;&nbsp;27.10 | &nbsp;&nbsp;&nbsp;&nbsp;22.26 |
| **Distributions paid to** <br> **shareholders from:**<br>|  |  |  |  |  |  |
| Net investment income | —<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.81) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.18) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.17) <br>|
| Net asset value, end of period | $102.24<br>| &nbsp;&nbsp;&nbsp;&nbsp; $102.32<br>| &nbsp;&nbsp;&nbsp;&nbsp; $75.93<br>| &nbsp;&nbsp;&nbsp;&nbsp; $60.30<br>| &nbsp;&nbsp;&nbsp;&nbsp; $105.40<br>| &nbsp;&nbsp;&nbsp;&nbsp; $78.48<br>|
| **Total return** (c) | (0.08)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 34.76<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 25.92<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (42.32)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 34.55<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 39.54<br> % <br>|
| **Ratios to average net** <br> **assets/supplemental data:**<br>|  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $3087589<br>| &nbsp;&nbsp;&nbsp;&nbsp; $2977532<br>| &nbsp;&nbsp;&nbsp;&nbsp; $2646045<br>| &nbsp;&nbsp;&nbsp;&nbsp; $2954573<br>| &nbsp;&nbsp;&nbsp;&nbsp; $6239449<br>| &nbsp;&nbsp;&nbsp;&nbsp; $4963825<br>|
| Ratio of total expenses to average <br> net assets<br>| 0.60<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>|
| Ratio of net investment income <br> (loss) to average net assets<br>| (0.19)% (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.10)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.07)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.96<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.16<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.24<br> % <br>|
| Portfolio turnover rate (e) | 14<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 35<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 34<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 42<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 33<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 35<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust International Equity Opportunities ETF (FPXI)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of period | $48.50 | &nbsp;&nbsp;&nbsp;&nbsp; $38.50 | &nbsp;&nbsp;&nbsp;&nbsp; $35.71 | &nbsp;&nbsp;&nbsp;&nbsp; $64.09 | &nbsp;&nbsp;&nbsp;&nbsp; $56.64 | &nbsp;&nbsp;&nbsp;&nbsp; $36.39 |
| **Income from investment operations:** |  |  |  |  |  |  |
| Net investment income (loss)  | 0.03<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.21<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.54<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.11<br>|
| Net realized and unrealized gain (loss) | (1.19) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.03<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.91<br>| &nbsp;&nbsp;&nbsp;&nbsp; (28.51) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.39<br>| &nbsp;&nbsp;&nbsp;&nbsp; 20.32<br> (b)<br>|
| Total from investment operations | (1.16)<br>| &nbsp;&nbsp;&nbsp;&nbsp;10.43 | &nbsp;&nbsp;&nbsp;&nbsp;3.12 | &nbsp;&nbsp;&nbsp;&nbsp; (27.97)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.79 | &nbsp;&nbsp;&nbsp;&nbsp;20.43 |
| **Distributions paid to shareholders from:** |  |  |  |  |  |  |
| Net investment income | (0.09) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.43) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.33) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.41) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.34) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.18) <br>|
| Net asset value, end of period | $47.25<br>| &nbsp;&nbsp;&nbsp;&nbsp; $48.50<br>| &nbsp;&nbsp;&nbsp;&nbsp; $38.50<br>| &nbsp;&nbsp;&nbsp;&nbsp; $35.71<br>| &nbsp;&nbsp;&nbsp;&nbsp; $64.09<br>| &nbsp;&nbsp;&nbsp;&nbsp; $56.64<br>|
| **Total return** (c) | (2.38)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 27.15<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.72<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (43.78)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 13.73<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 56.24<br> % (b)<br>|
| **Ratios to average net assets/supplemental** <br> **data:**<br>|  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $129928<br>| &nbsp;&nbsp;&nbsp;&nbsp; $145507<br>| &nbsp;&nbsp;&nbsp;&nbsp; $167491<br>| &nbsp;&nbsp;&nbsp;&nbsp; $321421<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1163259<br>| &nbsp;&nbsp;&nbsp;&nbsp; $356803<br>|
| Ratio of total expenses to average net assets | 0.70<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>|
| Ratio of net investment income (loss) to <br> average net assets<br>| 0.14<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.90<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.53<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.74<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.76<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.38<br> % <br>|
| Portfolio turnover rate (e) | 59<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 106<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 133<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 119<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 118<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 114<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Fund received a payment from the advisor in the amount of $806, which represents less than $0.01 per share. Since the advisor reimbursed the
 Fund, there was no effect on the Fund's total return.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Nasdaq Cybersecurity ETF (CIBR)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of <br> period<br>| $59.29 | &nbsp;&nbsp;&nbsp;&nbsp; $45.44 | &nbsp;&nbsp;&nbsp;&nbsp; $38.56 | &nbsp;&nbsp;&nbsp;&nbsp; $48.80 | &nbsp;&nbsp;&nbsp;&nbsp; $34.78 | &nbsp;&nbsp;&nbsp;&nbsp; $27.63 |
| **Income from investment** <br> **operations:**<br>|  |  |  |  |  |  |
| Net investment income (loss)  | 0.08<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.27<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.16<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.31<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.04<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.50<br>|
| Net realized and unrealized gain <br> (loss)<br>| 3.75<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13.85<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.88<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10.25) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 14.04<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.16<br>|
| Total from investment operations | 3.83 | &nbsp;&nbsp;&nbsp;&nbsp;14.12 | &nbsp;&nbsp;&nbsp;&nbsp;7.04 | &nbsp;&nbsp;&nbsp;&nbsp; (9.94)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.08 | &nbsp;&nbsp;&nbsp;&nbsp;7.66 |
| **Distributions paid to** <br> **shareholders from:**<br>|  |  |  |  |  |  |
| Net investment income | (0.09) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.27) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.16) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.30) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.06) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.51) <br>|
| Net asset value, end of period | $63.03<br>| &nbsp;&nbsp;&nbsp;&nbsp; $59.29<br>| &nbsp;&nbsp;&nbsp;&nbsp; $45.44<br>| &nbsp;&nbsp;&nbsp;&nbsp; $38.56<br>| &nbsp;&nbsp;&nbsp;&nbsp; $48.80<br>| &nbsp;&nbsp;&nbsp;&nbsp; $34.78<br>|
| **Total return** (b) | 6.45<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 31.12<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 18.29<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (20.53)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 40.50<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 28.27<br> % <br>|
| **Ratios to average net** <br> **assets/supplemental data:**<br>|  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $7875203<br>| &nbsp;&nbsp;&nbsp;&nbsp; $6601960<br>| &nbsp;&nbsp;&nbsp;&nbsp; $4964584<br>| &nbsp;&nbsp;&nbsp;&nbsp; $4731083<br>| &nbsp;&nbsp;&nbsp;&nbsp; $4770298<br>| &nbsp;&nbsp;&nbsp;&nbsp; $2178988<br>|
| Ratio of total expenses to average <br> net assets<br>| 0.58<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.59<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.59<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> % <br>|
| Ratio of net investment income <br> (loss) to average net assets<br>| 0.26<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.50<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.38<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.63<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.54<br> % <br>|
| Portfolio turnover rate (d) | 10<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 39<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 30<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 54<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 35<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 46<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust IPOX**<sup>®</sup> **Europe Equity Opportunities ETF (FPXE)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of period | $26.70 | &nbsp;&nbsp;&nbsp;&nbsp; $20.82 | &nbsp;&nbsp;&nbsp;&nbsp; $17.10 | &nbsp;&nbsp;&nbsp;&nbsp; $30.55 | &nbsp;&nbsp;&nbsp;&nbsp; $24.88 | &nbsp;&nbsp;&nbsp;&nbsp; $19.66 |
| **Income from investment operations:** |  |  |  |  |  |  |
| Net investment income (loss)  | 0.08<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.41<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.22<br>|
| Net realized and unrealized gain (loss) | (0.90) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.06<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.72<br>| &nbsp;&nbsp;&nbsp;&nbsp; (13.43) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.75<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.30<br>|
| Total from investment operations | (0.82)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.47 | &nbsp;&nbsp;&nbsp;&nbsp;4.02 | &nbsp;&nbsp;&nbsp;&nbsp; (13.07)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.00 | &nbsp;&nbsp;&nbsp;&nbsp;5.52 |
| **Distributions paid to shareholders from:** |  |  |  |  |  |  |
| Net investment income | (0.13) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.59) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.30) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.38) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.33) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.30) <br>|
| Net asset value, end of period | $25.75<br>| &nbsp;&nbsp;&nbsp;&nbsp; $26.70<br>| &nbsp;&nbsp;&nbsp;&nbsp; $20.82<br>| &nbsp;&nbsp;&nbsp;&nbsp; $17.10<br>| &nbsp;&nbsp;&nbsp;&nbsp; $30.55<br>| &nbsp;&nbsp;&nbsp;&nbsp; $24.88<br>|
| **Total return** (b) | (3.08)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 31.38<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 23.49<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (42.95)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 24.19<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 28.33<br> % <br>|
| **Ratios to average net assets/supplemental data:** |  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $3863<br>| &nbsp;&nbsp;&nbsp;&nbsp; $4005<br>| &nbsp;&nbsp;&nbsp;&nbsp; $4164<br>| &nbsp;&nbsp;&nbsp;&nbsp; $5131<br>| &nbsp;&nbsp;&nbsp;&nbsp; $10692<br>| &nbsp;&nbsp;&nbsp;&nbsp; $2488<br>|
| Ratio of total expenses to average net assets | 0.70<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>|
| Ratio of net investment income (loss) to average net <br> assets<br>| 0.60<br> % (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.71<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.42<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.31<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.51<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.74<br> % <br>|
| Portfolio turnover rate (d) | 48<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 107<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 119<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 118<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 118<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 63<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Dow Jones International Internet ETF (FDNI)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  | **Year Ended September 30,**  |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **2022**  | **2021**  | **2020**  |
| Net asset value, beginning of period | $29.51 | &nbsp;&nbsp;&nbsp;&nbsp; $20.97 | &nbsp;&nbsp;&nbsp;&nbsp; $19.49 | &nbsp;&nbsp;&nbsp;&nbsp; $39.96 | &nbsp;&nbsp;&nbsp;&nbsp; $39.08 | &nbsp;&nbsp;&nbsp;&nbsp; $21.02 |
| **Income from investment operations:** |  |  |  |  |  |  |
| Net investment income (loss)  | (0.06) (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.08<br> (a)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.00<br> (a) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.18) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.03) <br>|
| Net realized and unrealized gain (loss) | 1.66<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.58<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.49<br>| &nbsp;&nbsp;&nbsp;&nbsp; (20.47) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.13<br> (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 18.40<br>|
| Total from investment operations | 1.60 | &nbsp;&nbsp;&nbsp;&nbsp;8.61 | &nbsp;&nbsp;&nbsp;&nbsp;1.57 | &nbsp;&nbsp;&nbsp;&nbsp; (20.47)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;18.37 |
| **Distributions paid to shareholders from:** |  |  |  |  |  |  |
| Net investment income | (0.22) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.07) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.09) <br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.07) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.31) <br>|
| Net asset value, end of period | $30.89<br>| &nbsp;&nbsp;&nbsp;&nbsp; $29.51<br>| &nbsp;&nbsp;&nbsp;&nbsp; $20.97<br>| &nbsp;&nbsp;&nbsp;&nbsp; $19.49<br>| &nbsp;&nbsp;&nbsp;&nbsp; $39.96<br>| &nbsp;&nbsp;&nbsp;&nbsp; $39.08<br>|
| **Total return** (d) | 5.53<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 41.14<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.99<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (51.23)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.42<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 88.27<br> % <br>|
| **Ratios to average net assets/supplemental data:** |  |  |  |  |  |  |
| Net assets, end of period (in 000's) | $38617<br>| &nbsp;&nbsp;&nbsp;&nbsp; $41311<br>| &nbsp;&nbsp;&nbsp;&nbsp; $26208<br>| &nbsp;&nbsp;&nbsp;&nbsp; $29232<br>| &nbsp;&nbsp;&nbsp;&nbsp; $103903<br>| &nbsp;&nbsp;&nbsp;&nbsp; $48850<br>|
| Ratio of total expenses to average net assets | 0.65<br> % (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.65<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.65<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.65<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.65<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.65<br> % <br>|
| Ratio of net investment income (loss) to average <br> net assets<br>| (0.42)% (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.13<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.37<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.00<br> % (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.55)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.50)% <br>|
| Portfolio turnover rate (g) | 20<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 33<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 65<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 29<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 34<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 23<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Amount
 represents less than $0.01.

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Amount
 is less than 0.01%.

&nbsp;&nbsp;&nbsp;&nbsp;(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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Bloomberg Emerging Market Democracies ETF (EMDM)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year** <br>**Ended** <br>**9/30/2024** | **Period** <br>**Ended** <br>**9/30/2023 (a)** |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year** <br>**Ended** <br>**9/30/2024** | **Period** <br>**Ended** <br>**9/30/2023 (a)** |
| Net asset value, beginning of period | $23.71 | &nbsp;&nbsp;&nbsp;&nbsp; $19.66 | &nbsp;&nbsp;&nbsp;&nbsp; $19.81 |
| **Income from investment operations:** |  |  |  |
| Net investment income (loss) (b) | 0.23<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.62<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.49<br>|
| Net realized and unrealized gain (loss) | (1.41) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.94<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.31) <br>|
| Total from investment operations | (1.18)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.56 | &nbsp;&nbsp;&nbsp;&nbsp;0.18 |
| **Distributions paid to shareholders from:** |  |  |  |
| Net investment income | (0.85) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.51) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.33) <br>|
| Net asset value, end of period | $21.68<br>| &nbsp;&nbsp;&nbsp;&nbsp; $23.71<br>| &nbsp;&nbsp;&nbsp;&nbsp; $19.66<br>|
| **Total return** (c) | (4.79)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 23.28<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.83<br> % <br>|
| **Ratios to average net assets/supplemental data:** |  |  |  |
| Net assets, end of period (in 000's) | $7590<br>| &nbsp;&nbsp;&nbsp;&nbsp; $8300<br>| &nbsp;&nbsp;&nbsp;&nbsp; $2949<br>|
| Ratio of total expenses to average net assets | 0.75<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75<br> % (d)<br>|
| Ratio of net investment income (loss) to average net assets | 2.09<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.80<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.11<br> % (d)<br>|
| Portfolio turnover rate (e) | 10<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 22<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 12<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Inception
 date is March 2, 2023, which is consistent with the commencement of investment operations and is the date the initial creation units were
 established.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Emerging Markets Human Flourishing ETF (FTHF)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Period** <br>**Ended** <br>**9/30/2024 (a)** |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Period** <br>**Ended** <br>**9/30/2024 (a)** |
| Net asset value, beginning of period | $23.79 | &nbsp;&nbsp;&nbsp;&nbsp; $20.00 |
| **Income from investment operations:** |  |  |
| Net investment income (loss) (b) | 0.20<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.83<br>|
| Net realized and unrealized gain (loss) | (1.27) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.56<br>|
| Total from investment operations | (1.07)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.39 |
| **Distributions paid to shareholders from:** |  |  |
| Net investment income | (0.26) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.60) <br>|
| Net asset value, end of period | $22.46<br>| &nbsp;&nbsp;&nbsp;&nbsp; $23.79<br>|
| **Total return** (c) | (4.46)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 22.00<br> % <br>|
| **Ratios to average net assets/supplemental data:** |  |  |
| Net assets, end of period (in 000's) | $39304<br>| &nbsp;&nbsp;&nbsp;&nbsp; $42824<br>|
| Ratio of total expenses to average net assets | 0.75<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.75<br> % (d)<br>|
| Ratio of net investment income (loss) to average net assets | 1.78<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.88<br> % (d)<br>|
| Portfolio turnover rate (e) | 20<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 30<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Inception
 date is October 30, 2023, which is consistent with the commencement of investment operations and is the date the initial creation units were
 established.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(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

------

**Notes to Financial Statements**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**1. Organization**

First Trust Exchange-Traded Fund II (the "Trust") is an open-end management investment company organized as a Massachusetts business trust on July 6, 2006, 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 seventeen funds (each a "Fund" and collectively, the "Funds") listed below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| First Trust STOXX<sup>®</sup> European Select Dividend Index Fund – (NYSE Arca, Inc. ("NYSE Arca") ticker "FDD") |
| First Trust Alerian Disruptive Technology Real Estate ETF – (NYSE Arca ticker "DTRE") |
| First Trust Dow Jones Global Select Dividend Index Fund – (NYSE Arca ticker "FGD") |
| First Trust Global Wind Energy ETF – (NYSE Arca ticker "FAN") |
| First Trust Alerian U.S. NextGen Infrastructure ETF – (NYSE Arca ticker "RBLD") |
| First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid Infrastructure Index Fund – (Nasdaq, Inc. ("Nasdaq") ticker "GRID") |
| First Trust Indxx Global Natural Resources Income ETF – (Nasdaq ticker "FTRI") |
| First Trust Indxx Global Agriculture ETF – (Nasdaq ticker "FTAG") |
| First Trust Indxx NextG ETF – (Nasdaq ticker "NXTG") |
| First Trust S-Network Future Vehicles & Technology ETF – (Nasdaq ticker "CARZ") |
| First Trust Cloud Computing ETF – (Nasdaq ticker "SKYY") |
| First Trust International Equity Opportunities ETF – (Nasdaq ticker "FPXI") |
| First Trust Nasdaq Cybersecurity ETF – (Nasdaq ticker "CIBR") |
| First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF – (Nasdaq ticker "FPXE") |
| First Trust Dow Jones International Internet ETF – (Nasdaq ticker "FDNI") |
| First Trust Bloomberg Emerging Market Democracies ETF – (NYSE Arca ticker "EMDM") |
| First Trust Emerging Markets Human Flourishing ETF – (NYSE Arca ticker "FTHF") |

---

Each of DTRE, FAN, GRID, FTRI, FTAG, CARZ, FPXI, CIBR, FPXE, FDNI, EMDM and FTHF operates as a non-diversified series of the Trust. Each of FDD, FGD, RBLD, NXTG and SKYY 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Fund**  | **Index** |
| First Trust STOXX<sup>®</sup> European Select Dividend Index Fund | STOXX<sup>®</sup> Europe Select Dividend 30 Index |
| First Trust Alerian Disruptive Technology Real Estate ETF | Alerian Disruptive Technology Real Estate Index |
| First Trust Dow Jones Global Select Dividend Index Fund | Dow Jones Global Select Dividend Index |
| First Trust Global Wind Energy ETF | ISE Clean Edge Global Wind Energy<sup>TM</sup> Index |
| First Trust Alerian U.S. NextGen Infrastructure ETF | Alerian U.S. NextGen Infrastructure Index |
| First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid <br> Infrastructure Index Fund<br>| Nasdaq Clean Edge Smart Grid Infrastructure<sup>TM</sup> Index |
| First Trust Indxx Global Natural Resources Income ETF | Indxx Global Natural Resources Income Index |
| First Trust Indxx Global Agriculture ETF | Indxx Global Agriculture Index |
| First Trust Indxx NextG ETF | Indxx 5G & NextG Thematic Index<sup>SM</sup> <br>|
| First Trust S-Network Future Vehicles & Technology ETF | S-Network Electric & Future Vehicle Ecosystem Index |
| First Trust Cloud Computing ETF | ISE CTA Cloud Computing<sup>TM</sup> Index |
| First Trust International Equity Opportunities ETF | IPOX<sup>®</sup> International Index |
| First Trust Nasdaq Cybersecurity ETF | Nasdaq CTA Cybersecurity<sup>TM</sup> Index |
| First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF | IPOX<sup>®</sup>-100 Europe Index |
| First Trust Dow Jones International Internet ETF | Dow Jones International Internet Index |
| First Trust Bloomberg Emerging Market Democracies ETF | Bloomberg Emerging Market Democracies Index |
| First Trust Emerging Markets Human Flourishing ETF | Emerging Markets Human Flourishing Index |

---

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**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.

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:

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

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.

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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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 March 31, 2025, is included with each Fund's Portfolio of Investments.

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**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.

Distributions received from a Fund's investments in master limited partnerships ("MLPs") generally are comprised of return of capital and investment income. A Fund records estimated return of capital and investment income based on historical information available from each MLP. These estimates may subsequently be revised based on information received from the MLPs after their tax reporting periods are concluded.

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. 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

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

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. Prior to November 14, 2024, Brown Brothers Harriman & Co. was the securities lending agent for RBLD, GRID, FTRI, NXTG, CARZ, FPXI, CIBR and FPXE. 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 for FAN and SKYY, and effective November 14, 2024, for RBLD, GRID, FTRI, NXTG, CARZ, FPXI, CIBR and FPXE. 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 March 31, 2025, FAN, GRID, FTRI, NXTG, CARZ, SKYY, FPXI, CIBR, and FPXE had securities in the securities lending program. During the six months ended March 31, 2025, FAN, GRID, FTRI, NXTG, CARZ, SKYY, FPXI, CIBR, and FPXE 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 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.

**F. 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 March 31, 2025, were received as collateral for lending securities.

**G. 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.

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

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

and gain/loss on significantly modified 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 September 30, 2024 were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | Distributions <br>paid from <br>Ordinary <br>Income<br>| Distributions <br>paid from <br>Capital <br>Gains<br>| Distributions <br>paid from <br>Return of <br>Capital<br>|
| First Trust STOXX<sup>®</sup> European Select Dividend Index Fund | $10315400 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| First Trust Alerian Disruptive Technology Real Estate ETF | 457041 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust Dow Jones Global Select Dividend Index Fund | 35000288 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust Global Wind Energy ETF | 2828785 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust Alerian U.S. NextGen Infrastructure ETF | 120587 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid Infrastructure Index Fund | 15201118 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust Indxx Global Natural Resources Income ETF | 9644266 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust Indxx Global Agriculture ETF | 186749 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust Indxx NextG ETF | 7852793 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust S-Network Future Vehicles & Technology ETF | 361081 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust Cloud Computing ETF |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust International Equity Opportunities ETF | 1443011 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust Nasdaq Cybersecurity ETF | 29884371 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF | 101436 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust Dow Jones International Internet ETF | 76231 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust Bloomberg Emerging Market Democracies ETF | 160950 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust Emerging Markets Human Flourishing ETF | 867321 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |

---

As of September 30, 2024, the components of distributable earnings on a tax basis for each Fund were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | Undistributed <br>Ordinary <br>Income<br>| Accumulated <br>Capital and <br>Other <br>Gain (Loss)<br>| Net <br>Unrealized <br>Appreciation <br>(Depreciation)<br>|
| First Trust STOXX<sup>®</sup> European Select Dividend Index Fund | $1991073 | &nbsp;&nbsp; $(92943876)<br>| &nbsp;&nbsp; $10673946 |
| First Trust Alerian Disruptive Technology Real Estate ETF | 300442 | &nbsp;&nbsp; (8091995)<br>| &nbsp;&nbsp; 2170844 |
| First Trust Dow Jones Global Select Dividend Index Fund | 3400767 | &nbsp;&nbsp; (222746234)<br>| &nbsp;&nbsp; 13830788 |
| First Trust Global Wind Energy ETF | 178465 | &nbsp;&nbsp; (77918292)<br>| &nbsp;&nbsp; (30431334)<br>|
| First Trust Alerian U.S. NextGen Infrastructure ETF | 3388 | &nbsp;&nbsp; (8616117)<br>| &nbsp;&nbsp; 2393603 |
| First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid Infrastructure Index Fund | 899859 | &nbsp;&nbsp; (48636189)<br>| &nbsp;&nbsp; 236770384 |
| First Trust Indxx Global Natural Resources Income ETF | 360469 | &nbsp;&nbsp; (108843358)<br>| &nbsp;&nbsp; 3429929 |
| First Trust Indxx Global Agriculture ETF | 6123 | &nbsp;&nbsp; (21301167)<br>| &nbsp;&nbsp; (1593447)<br>|
| First Trust Indxx NextG ETF | 590293 | &nbsp;&nbsp; (7356966)<br>| &nbsp;&nbsp; 30570140 |
| First Trust S-Network Future Vehicles & Technology ETF | 106733 | &nbsp;&nbsp; (17032500)<br>| &nbsp;&nbsp; 810746 |
| First Trust Cloud Computing ETF | (2133515)<br>| &nbsp;&nbsp; (1576915743)<br>| &nbsp;&nbsp; 582058785 |
| First Trust International Equity Opportunities ETF | 269273 | &nbsp;&nbsp; (353472405)<br>| &nbsp;&nbsp; 29189765 |
| First Trust Nasdaq Cybersecurity ETF | 504966 | &nbsp;&nbsp; (762474714)<br>| &nbsp;&nbsp; 1425116559 |
| First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF | 5425 | &nbsp;&nbsp; (3841355)<br>| &nbsp;&nbsp; 872851 |
| First Trust Dow Jones International Internet ETF | 310799 | &nbsp;&nbsp; (20489528)<br>| &nbsp;&nbsp; (5264042)<br>|
| First Trust Bloomberg Emerging Market Democracies ETF | 209191 | &nbsp;&nbsp; (84123)<br>| &nbsp;&nbsp; 775256 |
| First Trust Emerging Markets Human Flourishing ETF | 248367 | &nbsp;&nbsp; (282069)<br>| &nbsp;&nbsp; 2322559 |

---

**H. 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

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

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.

**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

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

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 except EMDM and FTHF, the taxable years ended 2021, 2022, 2023, and 2024 remain open to federal and state audit. For EMDM, the taxable periods ended 2023 and 2024 remain open to federal and state audit. For FTHF, the taxable period ended 2024 remains open to federal and state audit. As of March 31, 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 September 30, 2024, 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Non-Expiring <br>Capital Loss <br>Carryforwards<br>|
| First Trust STOXX<sup>®</sup> European Select Dividend Index Fund | $92943876 |
| First Trust Alerian Disruptive Technology Real Estate ETF\* | 8091995 |
| First Trust Dow Jones Global Select Dividend Index Fund | 222746234 |
| First Trust Global Wind Energy ETF | 77918292 |
| First Trust Alerian U.S. NextGen Infrastructure ETF | 8616117 |
| First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid Infrastructure Index Fund | 48636189 |
| First Trust Indxx Global Natural Resources Income ETF | 108843358 |
| First Trust Indxx Global Agriculture ETF | 21301167 |
| First Trust Indxx NextG ETF | 7356966 |
| First Trust S-Network Future Vehicles & Technology ETF | 17032500 |
| First Trust Cloud Computing ETF | 1576915743 |
| First Trust International Equity Opportunities ETF | 353472405 |
| First Trust Nasdaq Cybersecurity ETF | 762474714 |
| First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF | 3841355 |
| First Trust Dow Jones International Internet ETF | 20489528 |
| First Trust Bloomberg Emerging Market Democracies ETF | 84123 |
| First Trust Emerging Markets Human Flourishing ETF | 282069 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* $75,097 of First Trust Alerian Disruptive Technology Real Estate ETF's non-expiring net capital losses is subject to loss limitation resulting from reorganization activity. This limitation generally reduces the utilization of these losses to a maximum of $38,346 per year. 

During the taxable year ended September 30, 2024, the following Funds utilized capital loss carryforwards in the following amounts:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Capital Loss <br>Carryforward <br>Utilized<br>|
| First Trust Alerian U.S. NextGen Infrastructure ETF | $362412 |
| First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid Infrastructure Index Fund | 2982172 |
| First Trust Indxx NextG ETF | 3666066 |
| First Trust International Equity Opportunities ETF | 9469566 |
| First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF | 172798 |

---

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

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 September 30, 2024, the following Fund incurred and elected to defer net late year ordinary or capital losses as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Qualified Late Year Losses | Qualified Late Year Losses |
|  | Ordinary Losses | Capital Losses |
| First Trust Cloud Computing ETF | $2133515 | &nbsp;&nbsp; $— |

---

As of March 31, 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Tax Cost | Gross <br> Unrealized <br>Appreciation<br>| Gross <br> Unrealized <br>(Depreciation)<br>| Net Unrealized <br>Appreciation <br>(Depreciation)<br>|
| First Trust STOXX<sup>®</sup> European Select Dividend Index <br> Fund<br>| $199688778 | &nbsp;&nbsp; $30850580 | &nbsp;&nbsp; $(7917820)<br>| &nbsp;&nbsp; $22932760 |
| First Trust Alerian Disruptive Technology Real Estate <br> ETF<br>| 15374281 | &nbsp;&nbsp; 1384253 | &nbsp;&nbsp; (1375775)<br>| &nbsp;&nbsp; 8478 |
| First Trust Dow Jones Global Select Dividend Index Fund | 569705420 | &nbsp;&nbsp; 54668107 | &nbsp;&nbsp; (39004381)<br>| &nbsp;&nbsp; 15663726 |
| First Trust Global Wind Energy ETF | 194679563 | &nbsp;&nbsp; 11794853 | &nbsp;&nbsp; (67572195)<br>| &nbsp;&nbsp; (55777342)<br>|
| First Trust Alerian U.S. NextGen Infrastructure ETF | 11247782 | &nbsp;&nbsp; 2239779 | &nbsp;&nbsp; (344076)<br>| &nbsp;&nbsp; 1895703 |
| First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid <br> Infrastructure Index Fund<br>| 2035464935 | &nbsp;&nbsp; 147939368 | &nbsp;&nbsp; (166751398)<br>| &nbsp;&nbsp; (18812030)<br>|
| First Trust Indxx Global Natural Resources Income ETF | 100413696 | &nbsp;&nbsp; 12300617 | &nbsp;&nbsp; (12571268)<br>| &nbsp;&nbsp; (270651)<br>|
| First Trust Indxx Global Agriculture ETF | 7480942 | &nbsp;&nbsp; 650860 | &nbsp;&nbsp; (2276953)<br>| &nbsp;&nbsp; (1626093)<br>|
| First Trust Indxx NextG ETF | 336994336 | &nbsp;&nbsp; 53757490 | &nbsp;&nbsp; (43697457)<br>| &nbsp;&nbsp; 10060033 |
| First Trust S-Network Future Vehicles & Technology <br> ETF<br>| 31452034 | &nbsp;&nbsp; 4133828 | &nbsp;&nbsp; (4858299)<br>| &nbsp;&nbsp; (724471)<br>|
| First Trust Cloud Computing ETF | 2698085633 | &nbsp;&nbsp; 658715734 | &nbsp;&nbsp; (263876719)<br>| &nbsp;&nbsp; 394839015 |
| First Trust International Equity Opportunities ETF | 117646031 | &nbsp;&nbsp; 16660265 | &nbsp;&nbsp; (1961120)<br>| &nbsp;&nbsp; 14699145 |
| First Trust Nasdaq Cybersecurity ETF | 6119320155 | &nbsp;&nbsp; 1986715491 | &nbsp;&nbsp; (186809869)<br>| &nbsp;&nbsp; 1799905622 |
| First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF | 3353665 | &nbsp;&nbsp; 696719 | &nbsp;&nbsp; (136236)<br>| &nbsp;&nbsp; 560483 |
| First Trust Dow Jones International Internet ETF | 37001915 | &nbsp;&nbsp; 4930317 | &nbsp;&nbsp; (4256692)<br>| &nbsp;&nbsp; 673625 |
| First Trust Bloomberg Emerging Market Democracies <br> ETF<br>| 7132065 | &nbsp;&nbsp; 1062589 | &nbsp;&nbsp; (597304)<br>| &nbsp;&nbsp; 465285 |
| First Trust Emerging Markets Human Flourishing ETF | 38482075 | &nbsp;&nbsp; 4423444 | &nbsp;&nbsp; (3765949)<br>| &nbsp;&nbsp; 657495 |

---

**I. Expenses**

Expenses that are directly related to one of the Funds are charged directly to the respective Fund, except for First Trust Alerian Disruptive Technology Real Estate ETF, First Trust Alerian U.S. NextGen Infrastructure ETF, First Trust Indxx Global Natural Resources Income ETF, First Trust Indxx Global Agriculture ETF, First Trust Indxx NextG ETF, First Trust S-Network Future Vehicles & Technology ETF, First Trust Cloud Computing ETF, First Trust International Equity Opportunities ETF, First Trust Nasdaq Cybersecurity ETF, First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF, First Trust Dow Jones International Internet ETF, First Trust Bloomberg Emerging Market Democracies ETF, and First Trust Emerging Markets Human Flourishing ETF (the "Unitary Fee Funds"), for which expenses other than excluded expenses (discussed in Note 3) are paid by the Advisor. General expenses of the Trust are allocated to all the Funds based upon the net assets of each Fund.

First Trust has entered into licensing agreements with each of the following "Licensors" for the respective Funds:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Fund**  | **Licensor** |
| First Trust STOXX<sup>®</sup> European Select Dividend Index Fund | STOXX Limited |
| First Trust Alerian Disruptive Technology Real Estate ETF | VettaFi LLC |
| First Trust Dow Jones Global Select Dividend Index Fund | S&P Dow Jones Indices LLC |

---

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

---

| | |
|:---|:---|
| **Fund**  | **Licensor** |
| First Trust Global Wind Energy ETF | Nasdaq, Inc. |
| First Trust Alerian U.S. NextGen Infrastructure ETF | VettaFi LLC |
| First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid <br> Infrastructure Index Fund<br>| Nasdaq, Inc. |
| First Trust Indxx Global Natural Resources Income ETF | Indxx, Inc. |
| First Trust Indxx Global Agriculture ETF | Indxx, Inc. |
| First Trust Indxx NextG ETF | Indxx, Inc. |
| First Trust S-Network Future Vehicles & Technology ETF | VettaFi LLC |
| First Trust Cloud Computing ETF | Nasdaq, Inc. |
| First Trust International Equity Opportunities ETF | IPOX<sup>®</sup> Schuster LLC |
| First Trust Nasdaq Cybersecurity ETF | Nasdaq, Inc. |
| First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF | IPOX<sup>®</sup> Schuster LLC |
| First Trust Dow Jones International Internet ETF | S&P Dow Jones Indices LLC |
| First Trust Bloomberg Emerging Market Democracies ETF | Bloomberg Index Services Limited |
| First Trust Emerging Markets Human Flourishing ETF | Oak City Consulting, LLC |

---

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 Licensors. The Funds are sub-licensees to the applicable license agreements. The Funds, except for the Unitary Fee Funds, are required to pay licensing fees, which are shown on the Statements of Operations. The licensing fees for the Unitary Fee Funds are paid by First Trust from the unitary investment advisory fees it receives from each of these Funds.

**J. 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 the 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.

For the Unitary Fee Funds, First Trust is paid an annual unitary management fee based on a percentage of each Fund's average daily net assets and is responsible for the expenses of such Fund including the cost of transfer agency, custody, fund administration, legal, audit, license and other services, and excluding fee payments under the Investment Management Agreement, distribution and service fees pursuant to a Rule 12b-1 plan, if any, brokerage expenses, acquired fund fees and expenses, taxes, interest, and extraordinary expenses. 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| Breakpoints | RBLD | SKYY | CIBR |
| Fund net assets up to and including $2.5 billion | 0.65000<br> %<br>| 0.600<br> %<br>| 0.600<br> %<br>|
| Fund net assets greater than $2.5 billion up to and including $5 billion | 0.63375<br> %<br>| 0.585<br> %<br>| 0.585<br> %<br>|
| Fund net assets greater than $5 billion up to and including $7.5 billion | 0.61750<br> %<br>| 0.570<br> %<br>| 0.570<br> %<br>|
| Fund net assets greater than $7.5 billion up to and including $10 billion | 0.60125<br> %<br>| 0.555<br> %<br>| 0.555<br> %<br>|
| Fund net assets greater than $10 billion up to and including $15 billion | 0.58500<br> %<br>| 0.540<br> %<br>| 0.540<br> %<br>|
| Fund net assets greater than $15 billion | 0.55250<br> %<br>| 0.510<br> %<br>| 0.510<br> %<br>|

---

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| Breakpoints | DTRE | FTRI | FTAG | NXTG |
| Fund net assets up to and including $2.5 billion | 0.600<br> %<br>| 0.7000<br> %<br>| 0.7000<br> %<br>| 0.7000<br> %<br>|
| Fund net assets greater than $2.5 billion up to and including $5 billion | 0.585<br> %<br>| 0.6825<br> %<br>| 0.6825<br> %<br>| 0.6825<br> %<br>|
| Fund net assets greater than $5 billion up to and including $7.5 billion | 0.570<br> %<br>| 0.6650<br> %<br>| 0.6650<br> %<br>| 0.6650<br> %<br>|
| Fund net assets greater than $7.5 billion up to and including $10 billion | 0.555<br> %<br>| 0.6475<br> %<br>| 0.6475<br> %<br>| 0.6475<br> %<br>|
| Fund net assets greater than $10 billion | 0.540<br> %<br>| 0.6300<br> %<br>| 0.6300<br> %<br>| 0.6300<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| Breakpoints | CARZ | FPXI | FPXE | FDNI |
| Fund net assets up to and including $2.5 billion | 0.7000<br> %<br>| 0.7000<br> %<br>| 0.7000<br> %<br>| 0.65000<br> %<br>|
| Fund net assets greater than $2.5 billion up to and including $5 billion | 0.6825<br> %<br>| 0.6825<br> %<br>| 0.6825<br> %<br>| 0.63375<br> %<br>|
| Fund net assets greater than $5 billion up to and including $7.5 billion | 0.6650<br> %<br>| 0.6650<br> %<br>| 0.6650<br> %<br>| 0.61750<br> %<br>|
| Fund net assets greater than $7.5 billion up to and including $10 billion | 0.6475<br> %<br>| 0.6475<br> %<br>| 0.6475<br> %<br>| 0.60125<br> %<br>|
| Fund net assets greater than $10 billion | 0.6300<br> %<br>| 0.6300<br> %<br>| 0.6300<br> %<br>| 0.58500<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Breakpoints | EMDM | FTHF |
| Fund net assets up to and including $2.5 billion | 0.75000<br> %<br>| 0.75000<br> %<br>|
| Fund net assets greater than $2.5 billion up to and including $5 billion | 0.73125<br> %<br>| 0.73125<br> %<br>|
| Fund net assets greater than $5 billion up to and including $7.5 billion | 0.71250<br> %<br>| 0.71250<br> %<br>|
| Fund net assets greater than $7.5 billion up to and including $10 billion | 0.69375<br> %<br>| 0.69375<br> %<br>|
| Fund net assets greater than $10 billion | 0.67500<br> %<br>| 0.67500<br> %<br>|

---

For the First Trust STOXX<sup>®</sup> European Select Dividend Index Fund, First Trust Dow Jones Global Select Dividend Index Fund, First Trust Global Wind Energy ETF, and First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid Infrastructure Index Fund (such Funds, the "Expense Cap Funds"), First Trust is paid an annual management fee based on a percentage of each Fund's average daily net assets and calculated pursuant to the following schedule:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Breakpoints |  |
| Fund net assets up to and including $2.5 billion | 0.40<br> %<br>|
| Fund net assets greater than $2.5 billion up to and including $5 billion | 0.39<br> %<br>|
| Fund net assets greater than $5 billion up to and including $7.5 billion | 0.38<br> %<br>|
| Fund net assets greater than $7.5 billion up to and including $10 billion | 0.37<br> %<br>|
| Fund net assets greater than $10 billion | 0.36<br> %<br>|

---

For the Expense Cap Funds, the Trust and the Advisor have entered into an Expense Reimbursement and Fee Waiver Agreement ("Agreement") in which First Trust has agreed to waive fees and/or reimburse Fund expenses to the extent that the operating expenses of each Fund (excluding interest expense, brokerage commissions and other trading expenses, acquired fund fees and expenses, taxes and extraordinary expenses) exceed the following amount as a percentage of average daily net assets per year (the "Expense Cap"). The Expense Cap will be in effect until at least January 31, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Expense Cap |
| First Trust STOXX<sup>®</sup> European Select Dividend Index Fund | 0.60<br> %<br>|
| First Trust Dow Jones Global Select Dividend Index Fund | 0.60<br> %<br>|
| First Trust Global Wind Energy ETF | 0.60<br> %<br>|
| First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid Infrastructure Index Fund | 0.70<br> %<br>|

---

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.

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

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 March 31, 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Purchases | Sales |
| First Trust STOXX<sup>®</sup> European Select Dividend Index Fund | $36539333 | &nbsp;&nbsp; $37325134 |
| First Trust Alerian Disruptive Technology Real Estate ETF | 3102447 | &nbsp;&nbsp; 3360673 |
| First Trust Dow Jones Global Select Dividend Index Fund | 208844766 | &nbsp;&nbsp; 202174194 |
| First Trust Global Wind Energy ETF | 21164044 | &nbsp;&nbsp; 23685011 |
| First Trust Alerian U.S. NextGen Infrastructure ETF | 1462153 | &nbsp;&nbsp; 1469818 |
| First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid Infrastructure Index Fund | 219732575 | &nbsp;&nbsp; 185509775 |
| First Trust Indxx Global Natural Resources Income ETF | 4209387 | &nbsp;&nbsp; 6022216 |
| First Trust Indxx Global Agriculture ETF | 495133 | &nbsp;&nbsp; 479990 |
| First Trust Indxx NextG ETF | 29838574 | &nbsp;&nbsp; 29892139 |
| First Trust S-Network Future Vehicles & Technology ETF | 8392234 | &nbsp;&nbsp; 8789319 |
| First Trust Cloud Computing ETF | 494041161 | &nbsp;&nbsp; 498263244 |
| First Trust International Equity Opportunities ETF | 81596573 | &nbsp;&nbsp; 82402043 |
| First Trust Nasdaq Cybersecurity ETF | 752121478 | &nbsp;&nbsp; 755070363 |
| First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF | 1895311 | &nbsp;&nbsp; 1902117 |
| First Trust Dow Jones International Internet ETF | 11387589 | &nbsp;&nbsp; 7478786 |
| First Trust Bloomberg Emerging Market Democracies ETF | 791889 | &nbsp;&nbsp; 991599 |
| First Trust Emerging Markets Human Flourishing ETF | 8124482 | &nbsp;&nbsp; 8920531 |

---

For the six months ended March 31, 2025, the cost of in-kind purchases and proceeds from in-kind sales for each Fund were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Purchases | Sales |
| First Trust STOXX<sup>®</sup> European Select Dividend Index Fund | $63415243 | &nbsp;&nbsp; $11224578 |
| First Trust Alerian Disruptive Technology Real Estate ETF |  | &nbsp;&nbsp; 1997622 |
| First Trust Dow Jones Global Select Dividend Index Fund | 59055661 | &nbsp;&nbsp; 37815148 |
| First Trust Global Wind Energy ETF |  | &nbsp;&nbsp; 32729929 |
| First Trust Alerian U.S. NextGen Infrastructure ETF | 3342298 | &nbsp;&nbsp; — |
| First Trust NASDAQ<sup>®</sup> Clean Edge<sup>®</sup> Smart Grid Infrastructure Index Fund | 544921987 | &nbsp;&nbsp; 183960113 |
| First Trust Indxx Global Natural Resources Income ETF |  | &nbsp;&nbsp; 40664937 |
| First Trust Indxx Global Agriculture ETF |  | &nbsp;&nbsp; — |
| First Trust Indxx NextG ETF | 18403685 | &nbsp;&nbsp; 53550118 |
| First Trust S-Network Future Vehicles & Technology ETF | 2760220 | &nbsp;&nbsp; 5430867 |
| First Trust Cloud Computing ETF | 407894032 | &nbsp;&nbsp; 259461461 |
| First Trust International Equity Opportunities ETF |  | &nbsp;&nbsp; 11354078 |
| First Trust Nasdaq Cybersecurity ETF | 910038324 | &nbsp;&nbsp; 19696187 |
| First Trust IPOX<sup>®</sup> Europe Equity Opportunities ETF |  | &nbsp;&nbsp; — |
| First Trust Dow Jones International Internet ETF | 2517842 | &nbsp;&nbsp; 8785867 |
| First Trust Bloomberg Emerging Market Democracies ETF |  | &nbsp;&nbsp; — |
| First Trust Emerging Markets Human Flourishing ETF |  | &nbsp;&nbsp; 495514 |

---

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**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 January 31, 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.

------

**Other Information**

**First Trust Exchange-Traded Fund II**

**March 31, 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 March 31, 2025.

**Proxy Disclosures (Item 9 of Form N-CSR)**

There were no matters submitted for vote by shareholders of any Fund during the six months ended March 31, 2025.

**Remuneration Paid to Directors, Officers, and Others (Item 10 of Form N-CSR)**

For the Expense Cap Funds (as defined in the Notes to Financial Statements), the applicable aggregate remuneration paid by each Fund during the period covered by the report is included in the Statements of Operations. For the Unitary Fee Funds (as defined in the Notes to Financial Statements), 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.

**Statement Regarding the Basis for the Board's Approval of Investment Advisory Contract (Item 11 of Form N-CSR)**

Not applicable.

**Disclaimer**

**First Trust Cloud Computing ETF**

**First Trust Nasdaq Cybersecurity ETF**

Nasdaq<sup>®</sup>, ISE CTA Cloud Computing<sup>TM</sup> Index, and Nasdaq CTA Cybersecurity<sup>TM</sup> 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 NASDAQ**<sup>®</sup> **Clean Edge**<sup>®</sup> **Smart Grid Infrastructure Index Fund**

**First Trust Global Wind Energy ETF**

Nasdaq<sup>®</sup>, Clean Edge<sup>®</sup>, Nasdaq Clean Edge Smart Grid Infrastructure<sup>TM</sup> Index, and ISE Clean Edge Global Wind Energy<sup>TM</sup> Index ("the Nasdaq Indexes") are registered trademarks and service marks of Nasdaq, Inc. and Clean Edge, Inc., respectively (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 Dow Jones Global Select Dividend Index Fund**

**First Trust Dow Jones International Internet ETF** 

Dow Jones Global Select Dividend Index and Dow Jones International Internet Index ("S&P Dow Jones Indexes") are products of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and have been licensed for use by First Trust. S&P<sup>®</sup> is a registered trademark of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones<sup>®</sup> 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 Funds are 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 S&P Dow Jones Indexes.

**First Trust Alerian Disruptive Technology Real Estate ETF**

**First Trust Alerian U.S. NextGen Infrastructure ETF**

Alerian, Alerian Disruptive Technology Real Estate Index and Alerian U.S. NextGen Infrastructure Index ("the Alerian Indexes") 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 or its affiliates (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

------

**Other Information (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

securities generally or in the Funds particularly or the ability of the Alerian Indexes to track general market performances. VettaFi's only relationship to the Funds is the licensing of the service marks and the Alerian Indexes, which is determined, composed and calculated by VettaFi without regard to First Trust Advisors L.P. or the Funds. VettaFi is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Funds issued by First Trust Advisors L.P. VettaFi has no obligation or liability in connection with the issuance, administration, marketing or trading of the Funds.

**First Trust Indxx Global Agriculture ETF**

**First Trust Indxx Global Natural Resources Income ETF**

**First Trust Indxx NextG ETF**

Indxx, Indxx Global Agriculture Index, Indxx Global Natural Resources Income Index and Indxx 5G & NextG Thematic Index<sup>SM</sup> ("Indxx Indexes") are trademarks of Indxx, Inc. ("Indxx") and have been licensed for use for certain purposes by First Trust. The Funds are not sponsored, endorsed, sold or promoted by Indxx and Indxx makes no representation regarding the advisability of trading in such products. The Indxx Indexes are determined, composed and calculated by Indxx without regard to First Trust or the Funds.

**First Trust International Equity Opportunities ETF**

**First Trust IPOX**<sup>®</sup> **Europe Equity Opportunities ETF**

IPOX<sup>®</sup>, IPOX<sup>®</sup> International Index, and IPOX<sup>®</sup>-100 Europe Index are registered international trademarks and service marks of IPOX<sup>®</sup> Schuster LLC ("IPOX") and have been licensed for use by First Trust. The Funds are not sponsored, endorsed, sold or promoted by IPOX, and IPOX makes no representation regarding the advisability of trading in such Funds. IPOX<sup>®</sup> is an international trademark of IPOX Schuster LLC. Index of Initial Public Offerings (IPOX) and IPOX Derivatives Patent No. US 7,698,197.

**First Trust STOXX**<sup>®</sup> **European Select Dividend Index Fund**

The STOXX<sup>®</sup> Europe Select Dividend 30 Index ("STOXX Index") is the intellectual property (including registered trademarks) of STOXX Ltd., Zug, Switzerland ("STOXX"), Deutsche Börse Group or their licensors, which is used under license. The Fund is neither sponsored nor promoted, distributed or in any other manner supported by STOXX, Deutsche Börse Group or their licensors, research partners or data providers and STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not give any warranty, and exclude any liability (whether in negligence or otherwise) with respect thereto generally or specifically in relation to any errors, omissions or interruptions in the STOXX Index or its data.

**First Trust S-Network Future Vehicles & Technology ETF**

S-Network and S-Network Electric & Future Vehicle Ecosystem 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. VettaFi's only relationship to the Fund is the licensing of the service marks and the Index, which is determined, composed and calculated by VettaFi without regard to First Trust Advisors L.P. or the Fund. VettaFi is not responsible for and has not participated in the determination of the timing of, prices at, or quantities of the Fund issued by First Trust Advisors L.P. VettaFi has no obligation or liability in connection with the issuance, administration, marketing or trading of the Fund.

**First Trust Bloomberg Emerging Market Democracies ETF**

**First Trust Emerging Markets Human Flourishing ETF**

"Bloomberg<sup>®</sup>", Bloomberg Emerging Market Democracies Index and Emerging Markets Human Flourishing Index licensed herein (the "Indices") are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited ("BISL"), the administrator of the Indices (collectively, "Bloomberg") and have been licensed for use for certain purposes by First Trust Advisors L.P. (the "Licensee"). Bloomberg is not affiliated with the Licensee, 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.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Semi-Annual Financial Statements and Other Information <br> For the Period Ended March 31, 2025

![](imgea9dfa851.gif)

<u>First Trust Exchange-Traded Fund II</u>

Book 2

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

First Trust Nasdaq Lux Digital Health Solutions ETF (EKG) <br> First Trust Indxx Metaverse ETF (ARVR) <br> First Trust Bloomberg Artificial Intelligence ETF (FAI)

------

**Table of Contents** 

**First Trust Exchange-Traded Fund II**

**Semi-Annual Financial Statements and Other Information**

**March 31, 2025** 

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_c57258b4-9e02-4986-84d1-80de2ee02f29_SOI-TOC-ScheduleofInvestments-4262_1) |  |
| [First Trust Nasdaq Lux Digital Health Solutions ETF (EKG)](#xx_c57258b4-9e02-4986-84d1-80de2ee02f29_SOI-TOC-ScheduleofInvestments-4262_1) | 1 |
| [First Trust Indxx Metaverse ETF (ARVR)](#xx_c57258b4-9e02-4986-84d1-80de2ee02f29_SOI-TOC-ScheduleofInvestments-4261_1) | 2 |
| [First Trust Bloomberg Artificial Intelligence ETF (FAI)](#xx_c57258b4-9e02-4986-84d1-80de2ee02f29_SOI-TOC-ScheduleofInvestments-4942_1) | 4 |
| [Statements of Assets and Liabilities](#xx_c57258b4-9e02-4986-84d1-80de2ee02f29_SAL1-TOC-StatementofAssetsandLiabilities-4262_1) | 6 |
| [Statements of Operations](#xx_c57258b4-9e02-4986-84d1-80de2ee02f29_SOP1-TOC-StatementofOperations-4942_1) | 7 |
| [Statements of Changes in Net Assets](#xx_c57258b4-9e02-4986-84d1-80de2ee02f29_SOC1-TOC-StatementofChanges-4262_1) | 8 |
| [Financial Highlights](#xx_c57258b4-9e02-4986-84d1-80de2ee02f29_FIHI-TOC-FinancialHighlights-4262_1) | 10 |
| [Notes to Financial Statements](#xx_c57258b4-9e02-4986-84d1-80de2ee02f29_NTF-TOC-NotestoFinancialStatements-4942_1) | 13 |
| [Other Information](#xx_c57258b4-9e02-4986-84d1-80de2ee02f29_AI-TOC-AdditionalInformation-4942_1) | 20 |

---

**Performance and Risk Disclosure**

There is no assurance that any series of First Trust Exchange-Traded Fund II (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 Lux Digital Health Solutions ETF (EKG)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS — 100.0%** | **COMMON STOCKS — 100.0%** | **COMMON STOCKS — 100.0%** |
|  | **Biotechnology — 9.5%**  |  |
| 1801 | Exact Sciences Corp. (a) | $77966 |
| 929 | Myriad Genetics, Inc. (a) | 8240 |
| 670 | Natera, Inc. (a) | 94745 |
| 528 | Twist Bioscience Corp. (a) | 20729 |
| 737 | Veracyte, Inc. (a) | 21852 |
|  |  | 223532 |
|  | **Health Care Equipment &** <br> **Supplies — 50.1%**  |  |
| 557 | Align Technology, Inc. (a) | 88485 |
| 1415 | Alphatec Holdings, Inc. (a) | 14348 |
| 2358 | Dexcom, Inc. (a) | 161028 |
| 313 | Establishment Labs Holdings, <br> Inc. (a) | 12772 |
| 1297 | Globus Medical, Inc., <br> Class A (a) | 94940 |
| 1643 | Hologic, Inc. (a) | 101488 |
| 291 | Inspire Medical Systems, Inc. (a) | 46350 |
| 383 | Insulet Corp. (a) | 100580 |
| 363 | Intuitive Surgical, Inc. (a) | 179783 |
| 259 | iRhythm Technologies, Inc. (a) | 27112 |
| 412 | Masimo Corp. (a) | 68639 |
| 518 | PROCEPT BioRobotics <br> Corp. (a) | 30179 |
| 588 | QuidelOrtho Corp. (a) | 20562 |
| 892 | ResMed, Inc. | 199674 |
| 685 | Tandem Diabetes Care, Inc. (a) | 13125 |
| 302 | TransMedics Group, Inc. (a) | 20319 |
|  |  | 1179384 |
|  | **Health Care Providers &** <br> **Services — 7.9%**  |  |
| 1391 | Guardant Health, Inc. (a) | 59257 |
| 2124 | Hims & Hers Health, Inc. (a) | 62764 |
| 1864 | LifeStance Health Group, <br> Inc. (a) | 12414 |
| 1245 | NeoGenomics, Inc. (a) | 11815 |
| 1081 | Privia Health Group, Inc. (a) | 24269 |
| 683 | Progyny, Inc. (a) | 15258 |
|  |  | 185777 |
|  | **Health Care Technology —** <br> **13.7%**  |  |
| 1375 | Doximity, Inc., Class A (a) | 79791 |
| 588 | Schrodinger, Inc. (a) | 11607 |
| 1936 | Teladoc Health, Inc. (a) | 15411 |
| 930 | Veeva Systems, Inc., Class A (a) | 215416 |
|  |  | 322225 |
|  | **Insurance — 1.3%**  |  |
| 2293 | Oscar Health, Inc., Class A (a) | 30061 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Life Sciences Tools & Services** <br> **— 17.5%**  |  |
| 957 | 10X Genomics, Inc., Class A (a) | $8355 |
| 1566 | Adaptive Biotechnologies <br> Corp. (a) | 11635 |
| 1174 | Illumina, Inc. (a) | 93145 |
| 1103 | IQVIA Holdings, Inc. (a) | 194459 |
| 2607 | QIAGEN N.V. | 104671 |
|  |  | 412265 |
|  | **Total Common Stocks** | 2353244 |
|  | (Cost $2,495,415) |  |
| **MONEY MARKET FUNDS — 0.1%** | **MONEY MARKET FUNDS — 0.1%** | **MONEY MARKET FUNDS — 0.1%** |
| 1520 | Morgan Stanley Institutional <br> Liquidity Funds - Treasury <br> Portfolio - Institutional Class - <br> 4.20% (b) | 1520 |
|  | (Cost $1,520) |  |
|  | **Total Investments — 100.1%** | 2354764 |
|  | (Cost $2,496,935) |  |
|  | **Net Other Assets and** <br> **Liabilities — (0.1)%** | (1347)<br>|
|  | **Net Assets — 100.0%** | $2353417 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Rate
 shown reflects yield as of March 31, 2025.

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks\* | $2353244 | $2353244 | $— | $— |
| Money Market Funds | 1520 | 1520 |  |  |
| Total Investments | $2354764 | $2354764 | $— | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for industry breakout.

See Notes to Financial Statements

------

**First Trust Indxx Metaverse ETF (ARVR)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) — 99.5%** | **COMMON STOCKS (a) — 99.5%** | **COMMON STOCKS (a) — 99.5%** |
|  | **Communications Equipment** <br> **— 1.2%**  |  |
| 13031 | Sercomm Corp. (TWD) (b) | $46471 |
|  | **Electronic Equipment,** <br> **Instruments & Components** <br>**— 5.4%**  |  |
| 1632 | Amphenol Corp., Class A | 107043 |
| 107202 | AUO Corp. (TWD) (b) | 43891 |
| 5768 | Sunny Optical Technology <br> Group Co., Ltd. (HKD) (b) | 53247 |
|  |  | 204181 |
|  | **Entertainment — 33.4%**  |  |
| 2132 | Capcom Co., Ltd. (JPY) (b) | 52621 |
| 2630 | DeNA Co., Ltd. (JPY) (b) | 61960 |
| 813 | Electronic Arts, Inc. | 117495 |
| 2282 | GungHo Online Entertainment, <br> Inc. (JPY) (b) | 44624 |
| 4136 | Koei Tecmo Holdings Co., Ltd. <br> (JPY) (b) | 54425 |
| 2462 | Mixi, Inc. (JPY) (b) | 54556 |
| 6278 | NetEase, Inc. (HKD) (b) | 128966 |
| 134 | Netflix, Inc. (c) | 124959 |
| 1281 | Netmarble Corp. <br> (KRW) (b) (d) (e) | 34267 |
| 8412 | Nexon Co., Ltd. (JPY) (b) | 115214 |
| 2040 | Nintendo Co., Ltd. (JPY) (b) | 138674 |
| 1889 | ROBLOX Corp., Class A (c) | 110110 |
| 1210 | Square Enix Holdings Co., Ltd. <br> (JPY) (b) | 56206 |
| 638 | Take-Two Interactive Software, <br> Inc. (c) | 132225 |
| 3612 | Ubisoft Entertainment S.A. <br> (EUR) (b) (c) | 43682 |
|  |  | 1269984 |
|  | **Health Care Technology —** <br> **1.0%**  |  |
| 4690 | Teladoc Health, Inc. (c) | 37332 |
|  | **Household Durables — 3.8%**  |  |
| 5670 | Sony Group Corp. (JPY) (b) | 143468 |
|  | **Interactive Media & Services** <br> **— 10.4%**  |  |
| 2648 | Grindr, Inc. (c) | 47399 |
| 192 | Meta Platforms, Inc., Class A | 110661 |
| 9736 | Snap, Inc., Class A (c) | 84801 |
| 2400 | Tencent Holdings Ltd. <br> (HKD) (b) | 153350 |
|  |  | 396211 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Semiconductors &** <br> **Semiconductor Equipment** <br>**— 24.9%**  |  |
| 962 | Advanced Micro Devices, <br> Inc. (c) | $98836 |
| 5897 | Intel Corp. | 133921 |
| 2079 | Microchip Technology, Inc. | 100644 |
| 1179 | Micron Technology, Inc. | 102443 |
| 837 | NVIDIA Corp. | 90714 |
| 737 | QUALCOMM, Inc. | 113211 |
| 4650 | STMicroelectronics N.V. <br> (EUR) (b) | 101918 |
| 566 | Taiwan Semiconductor <br> Manufacturing Co., Ltd., ADR | 93956 |
| 612 | Texas Instruments, Inc. | 109976 |
|  |  | 945619 |
|  | **Software — 12.1%**  |  |
| 279 | Adobe, Inc. (c) | 107005 |
| 276 | Microsoft Corp. | 103608 |
| 234 | Synopsys, Inc. (c) | 100351 |
| 1999 | Unity Software, Inc. (c) | 39160 |
| 1467 | Zoom Communications, Inc. (c) | 108220 |
|  |  | 458344 |
|  | **Technology Hardware, Storage** <br> **& Peripherals — 7.3%**  |  |
| 483 | Apple, Inc. | 107289 |
| 27058 | Xiaomi Corp., Class B <br> (HKD) (b) (c) (d) (e) | 171216 |
|  |  | 278505 |
|  | **Total Common Stocks** | 3780115 |
|  | (Cost $3,932,128) |  |
| **MONEY MARKET FUNDS — 0.4%** | **MONEY MARKET FUNDS — 0.4%** | **MONEY MARKET FUNDS — 0.4%** |
| 13006 | Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - <br> 4.23% (f) | 13006 |
|  | (Cost $13,006) |  |
|  | **Total Investments — 99.9%** | 3793121 |
|  | (Cost $3,945,134) |  |
|  | **Net Other Assets and** <br> **Liabilities — 0.1%** | 5122 |
|  | **Net Assets — 100.0%** | $3798243 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust Indxx Metaverse ETF (ARVR)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;(b) 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 March 31, 2025, securities noted as
 such are valued at $1,498,756 or 39.5% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(e) This
 security may be resold to qualified foreign investors and foreign
 institutional buyers under Regulation S of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Rate
 shown reflects yield as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| ADR | – American Depositary Receipt |
| EUR | – Euro |
| HKD | – Hong Kong Dollar |
| JPY | – Japanese Yen |
| KRW | – South Korean Won |
| TWD | – New Taiwan Dollar |
| USD | – United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| USD | 60.5% |
| JPY | 19.0 |
| HKD | 13.4 |
| EUR | 3.8 |
| TWD | 2.4 |
| KRW | 0.9 |
| Total | 100.0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Country Allocation**<sup>†</sup> <br>| **% of Net** <br>**Assets**<br>|
| United States | 57.9% |
| Japan | 19.0 |
| Cayman Islands | 13.3 |
| Taiwan | 4.9 |
| Netherlands | 2.7 |
| France | 1.2 |
| South Korea | 0.9 |
| Total Investments | 99.9 |
| Net Other Assets and Liabilities | 0.1 |
| Total | 100.0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>†</sup> 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 March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks: |  |  |  |  |
| Communications <br> Equipment<br>| $46471 | $— | $46471 | $— |
| Electronic <br> Equipment, <br> Instruments & <br> Components<br>| 204181 | 107043 | 97138 |  |
| Entertainment | 1269984 | 484789 | 785195 |  |
| Household Durables | 143468 |  | 143468 |  |
| Interactive Media & <br> Services<br>| 396211 | 242861 | 153350 |  |
| Semiconductors & <br> Semiconductor <br> Equipment<br>| 945619 | 843701 | 101918 |  |
| Technology <br> Hardware, Storage <br> & Peripherals<br>| 278505 | 107289 | 171216 |  |
| Other Industry <br> Categories\*<br>| 495676 | 495676 |  |  |
| Money Market Funds | 13006 | 13006 |  |  |
| Total Investments | $3793121 | $2294365 | $1498756 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for industry breakout.

See Notes to Financial Statements

------

**First Trust Bloomberg Artificial Intelligence ETF (FAI)**

**Portfolio of Investments**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) — 99.9%** | **COMMON STOCKS (a) — 99.9%** | **COMMON STOCKS (a) — 99.9%** |
|  | **Broadline Retail — 7.9%**  |  |
| 3364 | Amazon.com, Inc. (b) | $640035 |
|  | **Communications Equipment** <br> **— 1.9%**  |  |
| 1396 | Arista Networks, Inc. (b) | 108162 |
| 622 | Juniper Networks, Inc. | 22510 |
| 2329 | Viavi Solutions, Inc. (b) | 26062 |
|  |  | 156734 |
|  | **Electrical Equipment — 0.5%**  |  |
| 520 | Vertiv Holdings Co., Class A | 37544 |
|  | **Interactive Media & Services** <br> **— 16.4%**  |  |
| 3932 | Alphabet, Inc., Class A | 608044 |
| 1247 | Meta Platforms, Inc., Class A | 718721 |
|  |  | 1326765 |
|  | **IT Services — 4.5%**  |  |
| 101 | MongoDB, Inc. (b) | 17715 |
| 456 | Okta, Inc. (b) | 47980 |
| 1662 | Shopify, Inc., Class A (CAD) (b) | 158110 |
| 836 | Snowflake, Inc., Class A (b) | 122190 |
| 106 | Wix.com Ltd. (b) | 17318 |
|  |  | 363313 |
|  | **Semiconductors &** <br> **Semiconductor Equipment** <br>**— 31.7%**  |  |
| 3007 | Advanced Micro Devices, <br> Inc. (b) | 308939 |
| 65 | ASM International N.V. <br> (EUR) (c) | 29620 |
| 533 | ASML Holding N.V. (EUR) (c) | 352726 |
| 331 | Astera Labs, Inc. (b) | 19751 |
| 169 | BE Semiconductor Industries <br> N.V. (EUR) (c) | 17662 |
| 1621 | Broadcom, Inc. | 271404 |
| 1225 | Marvell Technology, Inc. | 75423 |
| 1918 | MediaTek, Inc. (TWD) (c) | 82667 |
| 1570 | Micron Technology, Inc. | 136417 |
| 67 | Monolithic Power Systems, Inc. | 38859 |
| 5220 | NVIDIA Corp. | 565744 |
| 1580 | QUALCOMM, Inc. | 242704 |
| 689 | SK Hynix, Inc. (KRW) (c) | 91848 |
| 11562 | Taiwan Semiconductor <br> Manufacturing Co., Ltd. <br> (TWD) (c) | 325620 |
|  |  | 2559384 |
|  | **Software — 36.4%**  |  |
| 876 | Adobe, Inc. (b) | 335972 |
| 226 | Atlassian Corp., Class A (b) | 47959 |
| 749 | Box, Inc., Class A (b) | 23114 |
| 641 | C3.ai, Inc., Class A (b) | 13493 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Software (Continued)**  |  |
| 386 | Cadence Design Systems, <br> Inc. (b) | $98171 |
| 325 | CrowdStrike Holdings, Inc., <br> Class A (b) | 114589 |
| 836 | Datadog, Inc., Class A (b) | 82940 |
| 786 | Dropbox, Inc., Class A (b) | 20994 |
| 430 | Dynatrace, Inc. (b) | 20275 |
| 395 | Gitlab, Inc., Class A (b) | 18565 |
| 388 | Intuit, Inc. | 238228 |
| 1781 | Microsoft Corp. | 668570 |
| 2267 | Oracle Corp. | 316949 |
| 4720 | Palantir Technologies, Inc., <br> Class A (b) | 398368 |
| 166 | Qualys, Inc. (b) | 20904 |
| 1033 | SentinelOne, Inc., Class A (b) | 18780 |
| 352 | ServiceNow, Inc. (b) | 280241 |
| 217 | Synopsys, Inc. (b) | 93060 |
| 462 | Trend Micro, Inc. (JPY) (c) | 31189 |
| 1775 | UiPath, Inc., Class A (b) | 18283 |
| 679 | Zoom Communications, Inc. (b) | 50090 |
| 134 | Zscaler, Inc. (b) | 26588 |
|  |  | 2937322 |
|  | **Technology Hardware, Storage** <br> **& Peripherals — 0.6%**  |  |
| 289 | NetApp, Inc. | 25386 |
| 712 | Super Micro Computer, Inc. (b) | 24379 |
|  |  | 49765 |
|  | **Total Investments — 99.9%** | 8070862 |
|  | (Cost $9,426,801) |  |
|  | **Net Other Assets and** <br> **Liabilities — 0.1%** | 7279 |
|  | **Net Assets — 100.0%** | $8078141 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Securities
 are issued in U.S. dollars unless otherwise indicated
 in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Non-income
 producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 March 31, 2025, securities noted as
 such are valued at $931,332 or 11.5% of net assets. Certain
 of these securities are fair valued using a factor provided
 by a third-party pricing service due to the change in value
 between the foreign markets' close and the New York Stock
 Exchange close exceeding a certain threshold. On days when
 this threshold is not exceeded, these securities are typically
 valued at the last sale price on the exchange on which
 they are principally traded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust Bloomberg Artificial Intelligence ETF (FAI)**

**Portfolio of Investments (Continued)**

**March 31, 2025 (Unaudited)**

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| CAD | – Canadian Dollar |
| EUR | – Euro |
| JPY | – Japanese Yen |
| KRW | – South Korean Won |
| TWD | – New Taiwan Dollar |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of March 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**3/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks: |  |  |  |  |
| Semiconductors & <br> Semiconductor <br> Equipment<br>| $2559384 | $1659241 | $900143 | $— |
| Software | 2937322 | 2906133 | 31189 |  |
| Other Industry <br> Categories\*<br>| 2574156 | 2574156 |  |  |
| Total Investments | $8070862 | $7139530 | $931332 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for industry breakout.

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund II**

**Statements of Assets and Liabilities**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **First Trust** <br> **Nasdaq Lux** <br> **Digital Health** <br> **Solutions ETF** <br>**(EKG)** <br>| **First Trust** <br> **Indxx Metaverse** <br> **ETF** <br>**(ARVR)** <br>| **First Trust** <br> **Bloomberg** <br> **Artificial** <br> **Intelligence ETF** <br>**(FAI)** <br>|
| **ASSETS:** |  |  |  |
| Investments, at value | $2354764 | &nbsp;&nbsp; $3793121 | &nbsp;&nbsp; $8070862 |
| Cash |  | &nbsp;&nbsp; — | &nbsp;&nbsp; 9273 |
| Foreign currency, at value |  | &nbsp;&nbsp; 31 | &nbsp;&nbsp; 12 |
| Receivables: |  |  |  |
| Dividends | 6 | &nbsp;&nbsp; 7398 | &nbsp;&nbsp; 2094 |
| Reclaims |  | &nbsp;&nbsp; 33 | &nbsp;&nbsp; — |
| Total Assets | 2354770 | &nbsp;&nbsp; 3800583 | &nbsp;&nbsp; 8082241 |
| **LIABILITIES:** |  |  |  |
| Investment advisory fees payable | 1353 | &nbsp;&nbsp; 2340 | &nbsp;&nbsp; 4100 |
| Total Liabilities | 1353 | &nbsp;&nbsp; 2340 | &nbsp;&nbsp; 4100 |
| **NET ASSETS** | $2353417 | &nbsp;&nbsp; $3798243 | &nbsp;&nbsp; $8078141 |
| **NET ASSETS consist of:** |  |  |  |
| Paid-in capital | $2683315 | &nbsp;&nbsp; $3917652 | &nbsp;&nbsp; $9314500 |
| Par value | 1500 | &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 3000 |
| Accumulated distributable earnings (loss) | (331398)<br>| &nbsp;&nbsp; (120409)<br>| &nbsp;&nbsp; (1239359)<br>|
| **NET ASSETS** | $2353417 | &nbsp;&nbsp; $3798243 | &nbsp;&nbsp; $8078141 |
| **NET ASSET VALUE,** per share | $15.69 | &nbsp;&nbsp; $37.98 | &nbsp;&nbsp; $26.93 |
| Number of shares outstanding (unlimited number of shares authorized, <br> par value $0.01 per share)<br>| 150002 | &nbsp;&nbsp; 100002 | &nbsp;&nbsp; 300002 |
| Investments, at cost | $2496935 | &nbsp;&nbsp; $3945134 | &nbsp;&nbsp; $9426801 |
| Foreign currency, at cost (proceeds) | $— | &nbsp;&nbsp; $31 | &nbsp;&nbsp; $11 |

---

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund II**

**Statements of Operations**

**For the Period Ended March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **First Trust** <br> **Nasdaq Lux** <br> **Digital Health** <br> **Solutions ETF** <br>**(EKG)** <br>| **First Trust** <br> **Indxx Metaverse** <br> **ETF** <br>**(ARVR)** <br>| **First Trust** <br> **Bloomberg** <br> **Artificial** <br> **Intelligence ETF** <br>**(FAI) (a)**<br>|
| **INVESTMENT INCOME:** |  |  |  |
| Dividends | $3663 | &nbsp;&nbsp; $18360 | &nbsp;&nbsp; $9012 |
| Foreign withholding tax |  | &nbsp;&nbsp; (1666)<br>| &nbsp;&nbsp; (605)<br>|
| Total investment income | 3663 | &nbsp;&nbsp; 16694 | &nbsp;&nbsp; 8407 |
| **EXPENSES:** |  |  |  |
| Investment advisory fees | 8423<br>| &nbsp;&nbsp; 13400<br>| &nbsp;&nbsp; 9951<br>|
| Total expenses | 8423 | &nbsp;&nbsp; 13400 | &nbsp;&nbsp; 9951 |
| **NET INVESTMENT INCOME (LOSS)** | (4760)<br>| &nbsp;&nbsp; 3294 | &nbsp;&nbsp; (1544)<br>|
| **NET REALIZED AND UNREALIZED GAIN (LOSS):** |  |  |  |
| Net realized gain (loss) on: |  |  |  |
| Investments | (41532)<br>| &nbsp;&nbsp; (151431)<br>| &nbsp;&nbsp; (22782)<br>|
| In-kind redemptions |  | &nbsp;&nbsp; 417675 | &nbsp;&nbsp; 142005 |
| Foreign currency transactions |  | &nbsp;&nbsp; (1060)<br>| &nbsp;&nbsp; (485)<br>|
| Net realized gain (loss) | (41532)<br>| &nbsp;&nbsp; 265184 | &nbsp;&nbsp; 118738 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |
| Investments | (157827)<br>| &nbsp;&nbsp; (227262)<br>| &nbsp;&nbsp; (1355939)<br>|
| Foreign currency translation |  | &nbsp;&nbsp; (5)<br>| &nbsp;&nbsp; (14)<br>|
| Net change in unrealized appreciation (depreciation) | (157827)<br>| &nbsp;&nbsp; (227267)<br>| &nbsp;&nbsp; (1355953)<br>|
| **NET REALIZED AND UNREALIZED GAIN (LOSS)** | (199359)<br>| &nbsp;&nbsp; 37917 | &nbsp;&nbsp; (1237215)<br>|
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING** <br> **FROM OPERATIONS**<br>| $(204119)<br>| &nbsp;&nbsp; $41211 | &nbsp;&nbsp; $(1238759)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Inception
 date is November 20, 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

------

**First Trust Exchange-Traded Fund II**

**Statements of Changes in Net Assets** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **First Trust Nasdaq Lux Digital** <br> **Health Solutions ETF (EKG)** | **First Trust Nasdaq Lux Digital** <br> **Health Solutions ETF (EKG)** |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>|
| **OPERATIONS:** |  |  |
| Net investment income (loss) | $(4760)<br>| &nbsp;&nbsp; $(12059)<br>|
| Net realized gain (loss) | (41532)<br>| &nbsp;&nbsp; 345109 |
| Net change in unrealized appreciation (depreciation) | (157827)<br>| &nbsp;&nbsp; 248472 |
| Net increase (decrease) in net assets resulting from operations | (204119)<br>| &nbsp;&nbsp; 581522 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |
| Investment operations |  | &nbsp;&nbsp; — |
| **SHAREHOLDER TRANSACTIONS:** |  |  |
| Proceeds from shares sold | —<br>| &nbsp;&nbsp; 6566924<br>|
| Cost of shares redeemed | —<br>| &nbsp;&nbsp; (5295678) <br>|
| Net increase (decrease) in net assets resulting from shareholder transactions |  | &nbsp;&nbsp; 1271246 |
| Total increase (decrease) in net assets | (204119)<br>| &nbsp;&nbsp; 1852768 |
| **NET ASSETS:** |  |  |
| Beginning of period | 2557536 | &nbsp;&nbsp; 704768 |
| End of period | $2353417 | &nbsp;&nbsp; $2557536 |
| **CHANGES IN SHARES OUTSTANDING:** |  |  |
| Shares outstanding, beginning of period | 150002 | &nbsp;&nbsp; 50002 |
| Shares sold |  | &nbsp;&nbsp; 450000 |
| Shares redeemed |  | &nbsp;&nbsp; (350000)<br>|
| Shares outstanding, end of period | 150002 | &nbsp;&nbsp; 150002 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Inception
 date is November 20, 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

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **First Trust Indxx Metaverse ETF** <br> **(ARVR)** | **First Trust Indxx Metaverse ETF** <br> **(ARVR)** | **First Trust** <br> **Bloomberg** <br> **Artificial** <br> **Intelligence** <br> **ETF (FAI)**<br>|
| **Six Months** <br>**Ended** <br>**3/31/2025** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**9/30/2024** <br>| **Period** <br>**Ended** <br>**3/31/2025 (a)** <br>**(Unaudited)**<br>|
| $3294 | &nbsp;&nbsp; $4948 | &nbsp;&nbsp; $(1544)<br>|
| 265184 | &nbsp;&nbsp; 324982 | &nbsp;&nbsp; 118738 |
| (227267)<br>| &nbsp;&nbsp; 145239 | &nbsp;&nbsp; (1355953)<br>|
| 41211 | &nbsp;&nbsp; 475169 | &nbsp;&nbsp; (1238759)<br>|
| (28441)<br>| &nbsp;&nbsp; (3710)<br>| &nbsp;&nbsp; (600)<br>|
| 3793714<br>| &nbsp;&nbsp; 5318584<br>| &nbsp;&nbsp; 10907960<br>|
| (3786392) <br>| &nbsp;&nbsp; (3466788) <br>| &nbsp;&nbsp; (1590460) <br>|
| 7322 | &nbsp;&nbsp; 1851796 | &nbsp;&nbsp; 9317500 |
| 20092 | &nbsp;&nbsp; 2323255 | &nbsp;&nbsp; 8078141 |
| 3778151 | &nbsp;&nbsp; 1454896 | &nbsp;&nbsp; — |
| $3798243 | &nbsp;&nbsp; $3778151 | &nbsp;&nbsp; $8078141 |
| 100002 | &nbsp;&nbsp; 50002 | &nbsp;&nbsp; — |
| 100000 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 350002 |
| (100000)<br>| &nbsp;&nbsp; (100000)<br>| &nbsp;&nbsp; (50000)<br>|
| 100002 | &nbsp;&nbsp; 100002 | &nbsp;&nbsp; 300002 |

---

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights**

**For a share outstanding throughout each period**

**First Trust Nasdaq Lux Digital Health Solutions ETF (EKG)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Period** <br>**Ended** <br>**9/30/2022 (a)** |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **Period** <br>**Ended** <br>**9/30/2022 (a)** |
| Net asset value, beginning of period | $17.05 | &nbsp;&nbsp;&nbsp;&nbsp; $14.09 | &nbsp;&nbsp;&nbsp;&nbsp; $14.17 | &nbsp;&nbsp;&nbsp;&nbsp; $20.44 |
| **Income from investment operations:** |  |  |  |  |
| Net investment income (loss)  | (0.03) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.09) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.10) (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.10) <br>|
| Net realized and unrealized gain (loss) | (1.33) <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.05<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.02<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6.17) <br>|
| Total from investment operations | (1.36)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.96 | &nbsp;&nbsp;&nbsp;&nbsp; (0.08)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (6.27)<br>|
| Net asset value, end of period | $15.69<br>| &nbsp;&nbsp;&nbsp;&nbsp; $17.05<br>| &nbsp;&nbsp;&nbsp;&nbsp; $14.09<br>| &nbsp;&nbsp;&nbsp;&nbsp; $14.17<br>|
| **Total return** (c) | (7.98)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; 21.01<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.56)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; (30.68)% <br>|
| **Ratios to average net assets/supplemental data:** |  |  |  |  |
| Net assets, end of period (in 000's) | $2353<br>| &nbsp;&nbsp;&nbsp;&nbsp; $2558<br>| &nbsp;&nbsp;&nbsp;&nbsp; $705<br>| &nbsp;&nbsp;&nbsp;&nbsp; $708<br>|
| Ratio of total expenses to average net assets | 0.65<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.65<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.65<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.65<br> % (d)<br>|
| Ratio of net investment income (loss) to average net assets | (0.37)% (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.55)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.58)% <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.61)% (d)<br>|
| Portfolio turnover rate (e) | 7<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 16<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 18<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 5<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Inception
 date is March 22, 2022, which is consistent with the commencement of investment operations and is the date the initial creation units were
 established.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Indxx Metaverse ETF (ARVR)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **Year Ended September 30,**  | **Year Ended September 30,**  | **Period** <br>**Ended** <br>**9/30/2022 (a)** |
|  | **Six Months** <br>**Ended** <br>**3/31/2025** <br>**(Unaudited)** | **2024** | **2023** | **Period** <br>**Ended** <br>**9/30/2022 (a)** |
| Net asset value, beginning of period | $37.78 | &nbsp;&nbsp;&nbsp;&nbsp; $29.10 | &nbsp;&nbsp;&nbsp;&nbsp; $22.34 | &nbsp;&nbsp;&nbsp;&nbsp; $30.21 |
| **Income from investment operations:** |  |  |  |  |
| Net investment income (loss)  | 0.03<br> (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> (b)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br>|
| Net realized and unrealized gain (loss) | 0.45<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.66<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.74<br>| &nbsp;&nbsp;&nbsp;&nbsp; (7.93) <br>|
| Total from investment operations | 0.48 | &nbsp;&nbsp;&nbsp;&nbsp;8.73 | &nbsp;&nbsp;&nbsp;&nbsp;6.84 | &nbsp;&nbsp;&nbsp;&nbsp; (7.87)<br>|
| **Distributions paid to shareholders from:** |  |  |  |  |
| Net investment income | (0.28) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.05) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.08) <br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Net asset value, end of period | $37.98<br>| &nbsp;&nbsp;&nbsp;&nbsp; $37.78<br>| &nbsp;&nbsp;&nbsp;&nbsp; $29.10<br>| &nbsp;&nbsp;&nbsp;&nbsp; $22.34<br>|
| **Total return** (c) | 1.28<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 30.01<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 30.66<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; (26.05)% <br>|
| **Ratios to average net assets/supplemental data:** |  |  |  |  |
| Net assets, end of period (in 000's) | $3798<br>| &nbsp;&nbsp;&nbsp;&nbsp; $3778<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1455<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1117<br>|
| Ratio of total expenses to average net assets | 0.70<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> % (d)<br>|
| Ratio of net investment income (loss) to average net assets | 0.17<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.28<br> % (d)<br>|
| Portfolio turnover rate (e) | 28<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 39<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 31<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 11<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Inception
 date is April 19, 2022, which is consistent with the commencement of investment operations and is the date the initial creation units were
 established.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(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

------

**First Trust Exchange-Traded Fund II**

**Financial Highlights (Continued)** 

**For a share outstanding throughout the period**

**First Trust Bloomberg Artificial Intelligence ETF (FAI)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **Period** <br>**Ended** <br>**3/31/2025 (a)** <br>**(Unaudited)** |
|  | **Period** <br>**Ended** <br>**3/31/2025 (a)** <br>**(Unaudited)** |
| Net asset value, beginning of period | $29.84 |
| **Income from investment operations:** |  |
| Net investment income (loss) (b) | (0.01) <br>|
| Net realized and unrealized gain (loss) | (2.89) <br>|
| Total from investment operations | (2.90)<br>|
| **Distributions paid to shareholders from:** |  |
| Net investment income | (0.01) <br>|
| Net asset value, end of period | $26.93<br>|
| **Total return** (c) | (9.72)% <br>|
| **Ratios to average net assets/supplemental data:** |  |
| Net assets, end of period (in 000's) | $8078<br>|
| Ratio of total expenses to average net assets | 0.65<br> % (d)<br>|
| Ratio of net investment income (loss) to average net assets | (0.10)% (d)<br>|
| Portfolio turnover rate (e) | 9<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Inception
 date is November 20, 2024, which is consistent with the commencement of investment operations and is the date the initial creation units
 were established.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(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

------

**Notes to Financial Statements**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**1. Organization**

First Trust Exchange-Traded Fund II (the "Trust") is an open-end management investment company organized as a Massachusetts business trust on July 6, 2006, 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 three funds (each a "Fund" and collectively, the "Funds") listed below, each a non-diversified series of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

First Trust Nasdaq Lux Digital Health Solutions ETF – (Nasdaq, Inc. ("Nasdaq") ticker "EKG") <br> First Trust Indxx Metaverse ETF – (Nasdaq ticker "ARVR") <br> First Trust Bloomberg Artificial Intelligence ETF – (NYSE Arca, Inc. ticker "FAI")<sup>(1)</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(1)</sup> Commenced investment operations on November 20, 2024.

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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Fund**  | **Index** |
| First Trust Nasdaq Lux Digital Health Solutions ETF | Nasdaq Lux Health Tech<sup>TM</sup> Index |
| First Trust Indxx Metaverse ETF | Indxx Metaverse Index |
| First Trust Bloomberg Artificial Intelligence ETF | Bloomberg Artificial Intelligence 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.

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 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.

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.

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.

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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 March 31, 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.

**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.

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,

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

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 September 30, 2024 were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | Distributions <br>paid from <br>Ordinary <br>Income<br>| Distributions <br>paid from <br>Capital <br>Gains<br>| Distributions <br>paid from <br>Return of <br>Capital<br>|
| First Trust Nasdaq Lux Digital Health Solutions ETF | $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| First Trust Indxx Metaverse ETF | 3710 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |

---

As of September 30, 2024, the components of distributable earnings on a tax basis for each Fund were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | Undistributed <br>Ordinary <br>Income<br>| Accumulated <br>Capital and <br>Other <br>Gain (Loss)<br>| Net <br>Unrealized <br>Appreciation <br>(Depreciation)<br>|
| First Trust Nasdaq Lux Digital Health Solutions ETF | $(8024)<br>| &nbsp;&nbsp; $(111040)<br>| &nbsp;&nbsp; $(8215)<br>|
| First Trust Indxx Metaverse ETF | 23586 | &nbsp;&nbsp; (106819)<br>| &nbsp;&nbsp; (49946)<br>|

---

**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 EKG and ARVR, the taxable years ended 2022, 2023 and 2024 remain open to federal and state audit. As of March 31, 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 September 30, 2024, 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Non-Expiring <br>Capital Loss <br>Carryforwards<br>|
| First Trust Nasdaq Lux Digital Health Solutions ETF | $111040 |
| First Trust Indxx Metaverse ETF | 106819 |

---

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 September 30, 2024, the following Fund incurred and elected to defer net late year ordinary or capital losses as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Qualified Late Year Losses | Qualified Late Year Losses |
|  | Ordinary Losses | Capital Losses |
| First Trust Nasdaq Lux Digital Health Solutions ETF | $8024 | &nbsp;&nbsp; $— |

---

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

As of March 31, 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Tax Cost | Gross <br> Unrealized <br>Appreciation<br>| Gross <br> Unrealized <br>(Depreciation)<br>| Net Unrealized <br>Appreciation <br>(Depreciation)<br>|
| First Trust Nasdaq Lux Digital Health Solutions ETF | $2496935 | &nbsp;&nbsp; $327990 | &nbsp;&nbsp; $(470161)<br>| &nbsp;&nbsp; $(142171)<br>|
| First Trust Indxx Metaverse ETF | 3945134 | &nbsp;&nbsp; 226079 | &nbsp;&nbsp; (378092)<br>| &nbsp;&nbsp; (152013)<br>|
| First Trust Bloomberg Artificial Intelligence ETF | 9426801 | &nbsp;&nbsp; 12993 | &nbsp;&nbsp; (1368932)<br>| &nbsp;&nbsp; (1355939)<br>|

---

**F. Expenses**

Expenses, other than the investment advisory fee and other excluded expenses, are paid by the Advisor (see Note 3).

**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 operations and performance are regularly monitored and assessed as a whole by the CODM responsible for oversight functions of the 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| Breakpoints | EKG | ARVR | FAI |
| Fund net assets up to and including $2.5 billion | 0.65000<br> %<br>| 0.7000<br> %<br>| 0.65000<br> %<br>|
| Fund net assets greater than $2.5 billion up to and including $5 billion | 0.63375<br> %<br>| 0.6825<br> %<br>| 0.63375<br> %<br>|
| Fund net assets greater than $5 billion up to and including $7.5 billion | 0.61750<br> %<br>| 0.6650<br> %<br>| 0.61750<br> %<br>|
| Fund net assets greater than $7.5 billion up to and including $10 billion | 0.60125<br> %<br>| 0.6475<br> %<br>| 0.60125<br> %<br>|
| Fund net assets greater than $10 billion | 0.58500<br> %<br>| 0.6300<br> %<br>| 0.58500<br> %<br>|

---

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.

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

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 period ended March 31, 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Purchases | Sales |
| First Trust Nasdaq Lux Digital Health Solutions ETF | $188968 | &nbsp;&nbsp; $193501 |
| First Trust Indxx Metaverse ETF | 1551594 | &nbsp;&nbsp; 1080425 |
| First Trust Bloomberg Artificial Intelligence ETF | 1059290 | &nbsp;&nbsp; 389771 |

---

For the period ended March 31, 2025, the cost of in-kind purchases and proceeds from in-kind sales for each Fund were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Purchases | Sales |
| First Trust Nasdaq Lux Digital Health Solutions ETF | $— | &nbsp;&nbsp; $— |
| First Trust Indxx Metaverse ETF | 3204244 | &nbsp;&nbsp; 3701035 |
| First Trust Bloomberg Artificial Intelligence ETF | 10227698 | &nbsp;&nbsp; 1589639 |

---

**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

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

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 January 31, 2026 for EKG and ARVR and October 25, 2026 for FAI.

**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 was the following subsequent event:

Effective April 22, 2025, ARVR's diversification status under the 1940 Act changed from non-diversified to diversified. The Fund's principal investment strategies and principal risks were revised accordingly.

------

**Other Information**

**First Trust Exchange-Traded Fund II**

**March 31, 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 March 31, 2025.

**Proxy Disclosures (Item 9 of Form N-CSR)**

There were no matters submitted for vote by shareholders of any Fund during the period ended March 31, 2025.

**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.

**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 II (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 Bloomberg Artificial Intelligence ETF (the "Fund"), for an initial two-year term at a meeting held on September 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 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

------

**Other Information (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

0.65% 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, if any, 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 Group, as well as advisory and unitary 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 for the Fund was above the median total (net) expense ratio 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 index ETFs in the First Trust Fund Complex that are managed by the Advisor and employ global equity strategies, each of which has a unitary fee rate schedule starting at an annual rate of 0.65% of its 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. 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.

**Disclaimer**

**First Trust Nasdaq Lux Digital Health Solutions ETF**

Nasdaq<sup>®</sup> and Nasdaq Lux Health Tech<sup>TM</sup> 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. 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 Indxx Metaverse ETF**

Indxx and Indxx Metaverse 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.

------

**Other Information (Continued)**

**First Trust Exchange-Traded Fund II**

**March 31, 2025 (Unaudited)**

**First Trust Bloomberg Artificial Intelligence ETF**

"Bloomberg<sup>®</sup>" and Bloomberg Artificial Intelligence Index licensed herein (the "Indices") are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited ("BISL"), the administrator of the Indices (collectively, "Bloomberg") and have been licensed for use for certain purposes by First Trust Advisors L.P. (the "Licensee"). Bloomberg is not affiliated with the Licensee, 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.

------

(b) The Financial Highlights is included in the Financial Statements and Other Information filed under Item 7(a) of this form.

**Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.**

This information is included in the Financial Statements and Other Information filed under Item 7(a) of this Form N-CSR.

**Item 9. Proxy Disclosures for Open-End Management Investment Companies.**

This information is included in the Financial Statements and Other Information filed under Item 7(a) of this Form N-CSR.

**Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies**

This information is included in the Financial Statements and Other Information filed under Item 7(a) of this Form N-CSR.

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.**

This information is included in the Financial Statements and Other Information filed under Item 7(a) of this Form N-CSR.

**Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.**

Not applicable to the Registrant.

**Item 13. Portfolio Managers of Closed-End Management Investment Companies.**

Not applicable to the Registrant.

**Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.**

Not applicable to the Registrant.

**Item 15. Submission of Matters to a Vote of Security Holders.**

There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant's board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.

**Item 16. Controls and Procedures.**

(a) The registrant's principal executive and principal financial officers,
 or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in
 Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective,
 as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation
 of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under
 the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b) There were no changes in the registrant's internal control over financial
 reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report
 that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

**Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.** 

(a) Not applicable to the Registrant.

(b) Not applicable to the Registrant.

**Item 18. Recovery of Erroneously Awarded Compensation.**

(a) Not applicable to the Registrant.

(b) Not applicable to the Registrant.

**Item 19. Exhibits.**

(a)(1) Not applicable to semi-annual reports on Form N-CSR.

(a)(2) [The certifications required by Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto](certs_302.htm).

(a)(3) Not applicable to the Registrant.

(a)(4) Not applicable to the Registrant.

(b) [Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto](certs_906.htm) .

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(registrant) First Trust Exchange-Traded Fund II

---

| | |
|:---|:---|
| By (Signature and Title)\* | &nbsp;&nbsp;&nbsp;/s/ James M. Dykas |
|  | &nbsp;&nbsp;&nbsp;James M. Dykas, President and Chief Executive Officer<br> (principal executive officer) |

---

Date: <u> June 9, 2025</u>

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By (Signature and Title)\* | &nbsp;&nbsp;&nbsp;/s/ James M. Dykas |
|  | &nbsp;&nbsp;&nbsp;James M. Dykas, President and Chief Executive Officer<br> (principal executive officer) |

---

Date: <u> June 9, 2025</u>

---

| | |
|:---|:---|
| By (Signature and Title)\* | &nbsp;&nbsp;&nbsp;/s/ Derek D. Maltbie |
|  | &nbsp;&nbsp;&nbsp;Derek D. Maltbie, Treasurer, Chief Financial Officer <br> and Chief Accounting Officer<br> (principal financial officer) |

---

Date: <u> June 9, 2025</u>

<sup>\*</sup> Print the name and title of each signing officer under his or her signature.

## Ex-99.Cert

**Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 <br> of the Sarbanes-Oxley Act**

I, James M. Dykas, certify that:

1. I have reviewed this report on Form N-CSR of First Trust Exchange-Traded Fund II;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this
report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to
be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to
the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting
that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the
registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors
and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and
report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: | June 9, 2025 | &nbsp;&nbsp;&nbsp;/s/ James M. Dykas |
|  |  | &nbsp;&nbsp;&nbsp;James M. Dykas, President and Chief Executive Officer<br> (principal executive officer) |

---

**Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 <br> of the Sarbanes-Oxley Act**

I, Derek D. Maltbie, certify that:

1. I have reviewed this report on Form N-CSR of First Trust Exchange-Traded Fund II;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this
report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to
be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to
the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting
that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the
registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors
and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and
report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant's internal control over financial reporting.

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| | | |
|:---|:---|:---|
| Date: | June 9, 2025 | &nbsp;&nbsp;&nbsp;/s/ Derek D. Maltbie |
|  |  | &nbsp;&nbsp;&nbsp;Derek D. Maltbie, Treasurer, Chief Financial Officer <br> and Chief Accounting Officer<br> (principal financial officer) |

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## Exhibit 99.906

**Certification Pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 <br> of the Sarbanes-Oxley Act**

I, James M. Dykas, President and Chief Executive Officer of First Trust Exchange-Traded Fund II (the "Registrant"), certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Form N-CSR of the Registrant (the "Report") fully complies with the requirements of Section
13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Registrant.

---

| | | |
|:---|:---|:---|
| Date: | June 9, 2025 | &nbsp;&nbsp;&nbsp;/s/ James M. Dykas |
|  |  | &nbsp;&nbsp;&nbsp;James M. Dykas, President and Chief Executive Officer<br> (principal executive officer) |

---

I, Derek D. Maltbie, Treasurer, Chief Financial Officer and Chief Accounting Officer of First Trust Exchange-Traded Fund II (the "Registrant"), certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Form N-CSR of the Registrant (the "Report") fully complies with the requirements of Section
13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Registrant.

---

| | | |
|:---|:---|:---|
| Date: | June 9, 2025 | &nbsp;&nbsp;&nbsp;/s/ Derek D. Maltbie |
|  |  | &nbsp;&nbsp;&nbsp;Derek D. Maltbie, Treasurer, Chief Financial Officer <br> and Chief Accounting Officer<br> (principal financial officer) |

---