First Trust Exchange-Traded Fund

09/02/2025 | Press release | Distributed by Public on 09/02/2025 04:01

Prospectus by Investment Company (Form 497)

Rule 497(e)
Registration Nos. 333-125751 and 811-21774

First Trust Exchange-Traded Fund

(the "Trust")

FT Vest Gold Strategy Quarterly Buffer ETF

(the "Fund")

Supplement To the Fund's Prospectus

DATED SEPTEMBER 2, 2025

As described in the Fund's prospectus, Fund shareholders are subject to an upside return cap that represents the maximum percentage return an investor can achieve from an investment in the Fund for a given Target Outcome Period. On August 29, 2025, the Fund's previous Target Outcome Period ended, and a new Target Outcome Period began as of September 2, 2025. The new Target Outcome Period will end on November 28, 2025. The cap for the Fund for the Target Outcome Period beginning on September 2, 2025 is set forth below.

Fund

Anticipated cap range

(before fees and expenses)

Anticipated cap range

(after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund's management fee)

FT Vest Gold Strategy Quarterly Buffer ETF (BGLD) 8.54% 8.31%

Please Keep this Supplement with your Fund Prospectus for Future Reference

First Trust Exchange-Traded Fund published this content on September 02, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on September 02, 2025 at 10:02 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]