*The Fund's advisor has contractually agreed to waive its fees and/or pay for operating expenses of the Fund to ensure that the total annual fund operating expenses do not exceed .99% and 1.24% of average daily net assets of the Fund's Institutional Class and Investor Class shares, respectively. This agreement is in effect until April 30, 2034, and it may be terminated before that date only by the Trust's Board of Trustees.

IMPORTANT INFORMATION

The Fund's prospectus and summary prospectus are accompanied on the page above and included the Fund's investment objectives, risks, charges and expenses, and other information.

The Fund may invest in companies of any market capitalization, although the Advisor expects to invest mostly in large- and mid-capitalization companies. The Fund may make significant investments in certain sectors or group of sectors within a particular industry or industries from time to time.

Distributed by First Trust Portfolios L.P.