U.S. Infrastructure Portfolio, Series 38
Ticker Symbol: FVVBNX

30 Holdings (As of Day of Deposit)
Ticker Company Name Initial Weight Price*
Energy
LNG Cheniere Energy, Inc. 3.31% $183.79
Industrials
WMS Advanced Drainage Systems, Inc. 3.30% 154.83
ACM AECOM 3.33% 106.21
AZZ AZZ Inc. 3.33% 79.35
CAT Caterpillar Inc. 3.36% 387.99
GTLS Chart Industries, Inc. 3.32% 124.56
FIX Comfort Systems USA, Inc. 3.31% 413.54
CNM Core & Main, Inc. 3.31% 45.21
DOV Dover Corporation 3.31% 191.28
DY Dycom Industries, Inc. 3.38% 187.99
ETN Eaton Corporation Plc 3.38% 338.04
EME EMCOR Group, Inc. 3.26% 444.91
FSS Federal Signal Corporation 3.35% 93.18
FLR Fluor Corporation 3.33% 50.47
GVA Granite Construction Incorporated 3.31% 81.38
HUBB Hubbell Incorporated 3.31% 451.39
ITT ITT Inc. 3.33% 151.25
J Jacobs Solutions Inc. 3.32% 138.34
PH Parker-Hannifin Corporation 3.40% 638.02
PNR Pentair Plc 3.35% 98.49
PWR Quanta Services, Inc. 3.26% 305.54
STRL Sterling Infrastructure Inc. 3.33% 156.11
TTEK Tetra Tech, Inc. 3.33% 49.06
URI United Rentals, Inc. 3.33% 833.68
VRT Vertiv Group Corp 3.36% 107.47
WAB Wabtec Corporation 3.37% 187.25
Information Technology
TRMB Trimble Inc. 3.33% 61.72
Materials
EXP Eagle Materials Inc. 3.35% 295.70
MLM Martin Marietta Materials, Inc. 3.37% 561.89
VMC Vulcan Materials Company 3.37% 252.79

* As of the close of business on 10/15/24. Market values are for reference only and are not indicative of your individual cost basis.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value

Portfolio Summary
Initial Date of Deposit 10/16/2024
Initial Public Offering Price $10.00 per Unit
Portfolio Ending Date 10/16/2026
Cash CUSIP 30338L327
Reinvestment CUSIP 30338L335
Fee Accounts Cash CUSIP 30338L343
Fee Accounts Reinvestment CUSIP 30338L350

Fee Table (based on a $10 public offering price per unit)
  Standard Fee/Wrap
Deferred Sales Charge 2.25%
Creation & Development Fee (C&D Fee) 0.50% 0.50%
Maximum Sales Charge 2.75% 0.50%
     
Estimated Organization Costs 0.210% 0.210%
Estimated Annual Trust Operating Expenses 0.218% 0.218%

The deferred sales charge will be deducted in three monthly installments commencing 1/17/25. When the public offering price is less than or equal to $10.00 per unit, there will be no initial sales charge. If the price exceeds $10.00 per unit, you will pay an initial sales charge. The C&D fee is a charge of $0.050 per unit collected at the end of the initial offering period. If the price you pay exceeds $10.00 per unit, the C&D fee will be less than 0.50%; if the price you pay is less than $10.00 per unit, the C&D fee will exceed 0.50%. Estimated organization costs will be deducted from the assets of the trust at the end of the initial offering period. Estimated organization costs and trust operating expenses are assessed on a fixed dollar amount per unit basis which, as a percentage of average net assets, will vary over time. Actual expenses may be more or less than the estimates. Please see “Fee Table” in the trust prospectus for additional information.

You should consider the portfolio's investment objective, risks, and charges and expenses carefully before investing. Contact your financial professional or call First Trust Portfolios L.P. at 1.800.621.1675 to request a prospectus, which contains this and other information about the portfolio. Read it carefully before you invest.

Risk Considerations
An investment in this unmanaged unit investment trust should be made with an understanding of the risks involved with owning common stocks, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market.

You should be aware that the portfolio is concentrated in stocks in the industrials sector which involves additional risks, including limited diversification. The companies engaged in the industrials sector are subject to certain risks, including a deterioration in the general state of the economy, intense competition, domestic and international politics, excess capacity and changing spending trends.

Securities of non-U.S. issuers are subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers.

An investment in a portfolio containing small-cap and mid-cap companies is subject to additional risks, as the share prices of small-cap companies and certain mid-cap companies are often more volatile than those of larger companies due to several factors, including limited trading volumes, products, financial resources, management inexperience and less publicly available information.

Large capitalization companies may grow at a slower rate than the overall market.

As the use of Internet technology has become more prevalent in the course of business, the trust has become more susceptible to potential operational risks through breaches in cybersecurity.

Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East, have caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, the Middle East and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.

The ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease.

The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers.

This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan.

 

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