First Trust Nasdaq® Clean Edge® Smart Grid Infrastructure ETF (the "First Trust ETF") seeks to replicate, to the extent possible, the performance of an index of companies that are primarily engaged and involved in electric grid electric meters and devices, networks, energy storage and management, connected mobile and enabling software used by the smart grid and electric infrastructure sector, net of expenses, initially the Nasdaq Clean Edge Smart Grid Infrastructure™ Index (the "Index"). The investment strategy of the First Trust ETF is to provide exposure to the Index by holding securities of First Trust Nasdaq® Clean Edge® Smart Grid Infrastructure Index Fund (the "Underlying Fund"), a U.S.-listed index ETF which is managed by an affiliate of the Manager which seeks to replicate or substantially replicate the performance of the Index.