U.S. Revenue Portfolio, Series 35

Although a company may be incorporated in the U.S., it does not necessarily mean that it has high exposure to the American economy. This unit investment trust (UIT) seeks to provide exposure to the U.S. economy, while avoiding companies that could be adversely affected by slower global growth.

Lower Currency Risk | Approximately 41% of the S&P 500 Index revenues are generated outside the U.S.1 which is a headwind if the dollar continues to strengthen. Since companies held in the portfolio generate greater than 90% of revenues in the U.S., these companies could potentially see positive impacts from tariffs on imported (foreign) goods and be less affected by retaliatory tariffs on domestic goods.

Broadening Equity Returns | We continue to see stretched valuations in the Magnificent 7 trade, so there may be a benefit to owning broader equity baskets. This UIT has exposure to U.S. companies in industries such as household durables, oil & gas, and insurance rather than the technology sector.

Portfolio Objective

This unit investment trust seeks above-average capital appreciation; however, there is no assurance the objective will be met.

¹ FactSet, as of 2/28/2025.

Magnificent 7 (Mag 7): AAPL: Apple Inc. MSFT: Microsoft Corporation. NVDA: NVIDIA Corporation. GOOGL: Alphabet Inc. AMZN: Amazon.com, Inc. META: Meta. TSLA: Tesla, Inc. References to specific companies or securities should not be construed as a recommendation to buy or sell and should not be assumed profitable.

The S&P 500 Index is an unmanaged index of 500 companies used to measure large-cap U.S. stock market performance. The index cannot be purchased directly by investors.

You should consider the portfolio's investment objectives, 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.

An investment in a portfolio containing mid-cap companies is subject to additional risks, as the share prices of 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.

A public health crisis, and the ensuing policies enacted by governments and central banks in response, could cause significant volatility and uncertainty in global financial markets, negatively impacting global growth prospects.

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.