First Trust Announces Expected Effective Date of ETF Reorganization

First Trust Advisors L.P. (“FTA”) announced today that, subject to the satisfaction of certain customary closing conditions, the reorganization of First Trust Australia AlphaDEX® Fund (NYSE Arca: FAUS), First Trust Canada AlphaDEX® Fund (Nasdaq: FCAN), First Trust Hong Kong AlphaDEX® Fund (Nasdaq: FHK), and First Trust South Korea AlphaDEX® Fund (Nasdaq: FKO), each an index based exchange-traded fund (“ETF”), managed by FTA, into First Trust Developed Markets ex-US AlphaDEX® Fund (Nasdaq: FDT), an index based ETF managed by FTA, is expected to become effective immediately before the opening of the Nasdaq on November 2, 2020.

As previously announced, the shareholders of FAUS, FCAN, FHK and FKO approved the funds’ reorganization into FDT at a Joint Special Meeting of Shareholders on September 14, 2020. The reorganization was approved by the Board of Trustees of each of FAUS, FCAN, FHK, FKO and FDT on January 30, 2020.

Upon the completion of the transaction, which is expected to be tax-free, the assets of each of FAUS, FCAN, FHK and FKO will be transferred to, and the liabilities of each of FAUS, FCAN, FHK and FKO will be assumed by, FDT. The shareholders of FAUS, FCAN, FHK and FKO will receive shares of FDT with a value equal to the aggregate net asset value of the shares of FAUS, FCAN, FHK and FKO, as applicable, held by them.

FDT is an index based ETF that seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an equity index called the NASDAQ AlphaDEX® Developed Markets Ex-US Index. FDT pursues this investment objective by investing at least 90% of its net assets in the common stocks and depositary receipts that comprise the index. The index is composed of securities issued by small, mid and large cap companies operating in developed markets excluding the United States, as classified by Nasdaq, Inc.

FTA is a federally registered investment advisor and serves as the investment advisor of FAUS, FCAN, FHK, FKO and FDT. FTA and its affiliate First Trust Portfolios L.P. (“FTP”), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $ 149 billion as of September 30, 2020 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.

Additional Information / Forward-Looking Statements

This press release is not intended to, and shall not, constitute an offer to purchase or sell shares of FAUS, FCAN, FHK, FKO or FDT. Certain statements made in this news release that are not historical facts are referred to as “forward-looking statements” under the U.S. federal securities laws. Actual future results or occurrences may differ significantly from those anticipated in any forward- looking statements due to numerous factors. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the historical experience of FTA and the funds managed by FTA and its present expectations or projections. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. FTA, FAUS, FCAN, FHK, FKO and FDT undertake no responsibility to update publicly or revise any forward-looking statements.

An investor should carefully consider the investment objectives, risks, charges and expenses of FAUS, FCAN, FHK, FKO or FDT, as applicable, before investing. The prospectuses for FAUS, FCAN, FHK, FKO and FDT contain this and other important information and are available free of charge by calling toll-free at 1-800-621-1675 or writing FAUS, FCAN, FHK, FKO or FDT at 120 East Liberty Drive, Suite 400, Wheaton, IL 60187. The prospectus should be read carefully before investing.


Ryan Issakainen – (630) 765-8689
Jim Dykas – (630) 517-7665

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