
First Trust Advisors L.P. (&#34;FTA&#34;) announces the First Trust RiverFront Dynamic Developed International ETF (NASDAQ:RFDI) (the &#34;Fund&#34;), a series of First Trust Exchange-Traded Fund III (the

<p xmlns="http://www.w3.org/1999/xhtml">
First Trust Advisors L.P. ("FTA") announces the First Trust RiverFront Dynamic Developed International ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/RFDI">RFDI</a>) (the "Fund"), a series of First Trust Exchange-Traded Fund III (the "Trust"), will change its investment strategies, name and other related matters, expected to occur on or around September 14, 2026. The Fund’s new name will be the First Trust Active Factor International ETF and the Fund’s new ticker will be AFDM. In connection with the change to the Fund’s name, the Fund will adopt a non-fundamental investment policy to invest at least 80% of its net assets (including investment borrowings) in the equity securities of international developed market companies listed and traded on U.S. and non-U.S. exchanges.

</p><p xmlns="http://www.w3.org/1999/xhtml">
In connection with the changes described above, the Fund’s principal investment strategies will be revised such that the Fund will no longer pursue its current dynamic developed international strategy, which permits the Fund to hedge its exposure to the currencies in which the equity securities of the developed market companies are denominated. The Fund will instead seek to follow a multi-factor quantitative methodology to construct a portfolio of securities exhibiting exposures to the following factors: (i) value; (ii) momentum; (iii) quality; and (iv) low volatility. The Fund will pursue its investment objective by investing in equity securities that may include common stock and depositary receipts (including American Depositary Receipts ("ADRs"), European Depositary Receipts ("EDRs"), Canadian Depositary Receipts ("CDRs") and Global Depositary Receipts ("GDRs")).Additionally, the Fund’s annual unitary management fee will be reduced from 0.83% to 0.80% of the Fund’s average daily net assets. The Fund’s portfolio management team will change to members of the First Trust Investment Committee, and the Fund will no longer have a sub-advisor.

</p><p xmlns="http://www.w3.org/1999/xhtml">
FTA is a federally registered investment advisor and serves as the Fund’s investment advisor. 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 $359 billion as of May 31, 2026 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and SMAs. 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.

</p><p xmlns="http://www.w3.org/1999/xhtml">
You should consider the Fund’s investment objective, risks, charges and expenses carefully before investing. You can download a prospectus or contact FTA to request a prospectus, which contains other information about the Fund. Read it carefully before you invest. The risks of investing in the Fund are spelled out in its prospectus, shareholder reports and other regulatory filings.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.

</p><p xmlns="http://www.w3.org/1999/xhtml">
This press release does not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

</p><p xmlns="http://www.w3.org/1999/xhtml">
This press release contains certain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the goals, beliefs, plans or current expectations of FTA and its respective representatives, taking into account the information currently available to them. Forward-looking statements include all statements that do not relate solely to current or historical fact. For example, forward-looking statements include the use of words such as "anticipate," "estimate," "intend," "expect," "believe," "plan," "may," "should," "would," "will" or other words that convey uncertainty of future events or outcomes. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of a Fund to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. When evaluating the information included in this press release, you are cautioned not to place undue reliance on these forward-looking statements, which reflect the judgment of FTA and its respective representatives only as of the date hereof. No obligation will be undertaken to publicly revise or update these forward-looking statements to reflect events and circumstances that arise after the date hereof.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Fund’s daily closing price and net asset value per share as well as other information can be found at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ftportfolios.com&amp;esheet=54564450&amp;newsitemid=20260702462732&amp;lan=en-US&amp;anchor=www.ftportfolios.com&amp;index=1&amp;md5=6e2268422c74c4f43e2677d6dfcf34e7" shape="rect">www.ftportfolios.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260702462732r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260702462732/en/" rel="nofollow">https://www.businesswire.com/news/home/20260702462732/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Press Inquiries: Ryan Issakainen, 630-765-8689
<br xmlns="http://www.w3.org/1999/xhtml"></br>Broker Inquiries: Sales Team, 866-848-9727

</p>

RFDI

First Trust Announces Changes to Investment Strategies, Name and Other Related Matters for First Trust RiverFront Dynamic Developed International ETF

First Trust RiverFront's RFDI to be renamed AFDM with factor-based strategy

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>First Trust Advisors L.P. (&amp;#34;FTA&amp;#34;) announces the First Trust RiverFront Dynamic Developed International ETF (NASDAQ:RFDI) (the &amp;#34;Fund&amp;#34;), a series of First Trust Exchange-Traded Fund III (the</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>First Trust RiverFront Dynamic Developed International ETF will be renamed AFDM and shift to a non-hedged, 80%+ international developed equity mandate, using a multi-factor approach (value, momentum, quality, low volatility). The change includes a fee cut to 0.80% and a governance shift to the First Trust Investment Committee, with no sub-advisor. RFDI holders face a transitional rebranding and potential flow impact.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>RFDI to be renamed AFDM; strategy shifts to factor-based, non-hedged.</li><li>No currency hedging; 80%+ assets in international developed equities.</li><li>New management by First Trust Investment Committee; no sub-advisor.</li><li>Annual fee reduced to 0.80% from 0.83%.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>First Trust RiverFront Dynamic Developed International ETF (RFDI)</strong>: undergoing strategy overhaul and name change; potential outflows as investors reposition into AFDM.</li><li><strong>First Trust Active Factor International ETF (AFDM)</strong>: new name/ticker; adopts 80%+ international developed exposure with multi-factor approach.</li><li><strong>First Trust Advisors L.P. (FTA)</strong>: fund sponsor/advisor; strategic governance shift to First Trust Investment Committee.</li><li><strong>First Trust Portfolios L.P. (FTP)</strong>: distributor; maintains relationship with the fund complex.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. This is a fund-structure and branding update with governance and fee changes, typical of ETF product evolution within asset-management firms.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Liquidity and flows may shift from RFDI to AFDM around the Sept 14, 2026 transition.</li><li>AFDM&#039;s factor-based, non-hedged approach could attract new investors seeking clean international exposure.</li><li>0.80% fee vs 0.83% could improve competitive positioning for AFDM and pressure RFDI.</li><li>Rebranding and governance changes may induce short-term volatility and tracking implications.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Effective on or around September 14, 2026.</li><li>New name: First Trust Active Factor International ETF.</li><li>New ticker: AFDM.</li><li>Minimum 80% of assets in international developed equities.</li><li>Annual unitary management fee reduced to 0.80% (from 0.83%).</li><li>AUM for First Trust Advisors L.P. (FTA) group: approx $359 billion as of May 31, 2026.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>RFDI faces near-term repositioning risk as assets migrate to AFDM; expect potential price pressure ahead of Sept 14, 2026.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
First Trust Advisors L.P. ("FTA") announces the First Trust RiverFront Dynamic Developed International ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/RFDI">RFDI</a>) (the "Fund"), a series of First Trust Exchange-Traded Fund III (the "Trust"), will change its investment strategies, name and other related matters, expected to occur on or around September 14, 2026. The Fund’s new name will be the First Trust Active Factor International ETF and the Fund’s new ticker will be AFDM. In connection with the change to the Fund’s name, the Fund will adopt a non-fundamental investment policy to invest at least 80% of its net assets (including investment borrowings) in the equity securities of international developed market companies listed and traded on U.S. and non-U.S. exchanges.

</p><p xmlns="http://www.w3.org/1999/xhtml">
In connection with the changes described above, the Fund’s principal investment strategies will be revised such that the Fund will no longer pursue its current dynamic developed international strategy, which permits the Fund to hedge its exposure to the currencies in which the equity securities of the developed market companies are denominated. The Fund will instead seek to follow a multi-factor quantitative methodology to construct a portfolio of securities exhibiting exposures to the following factors: (i) value; (ii) momentum; (iii) quality; and (iv) low volatility. The Fund will pursue its investment objective by investing in equity securities that may include common stock and depositary receipts (including American Depositary Receipts ("ADRs"), European Depositary Receipts ("EDRs"), Canadian Depositary Receipts ("CDRs") and Global Depositary Receipts ("GDRs")).Additionally, the Fund’s annual unitary management fee will be reduced from 0.83% to 0.80% of the Fund’s average daily net assets. The Fund’s portfolio management team will change to members of the First Trust Investment Committee, and the Fund will no longer have a sub-advisor.

</p><p xmlns="http://www.w3.org/1999/xhtml">
FTA is a federally registered investment advisor and serves as the Fund’s investment advisor. 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 $359 billion as of May 31, 2026 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and SMAs. 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.

</p><p xmlns="http://www.w3.org/1999/xhtml">
You should consider the Fund’s investment objective, risks, charges and expenses carefully before investing. You can download a prospectus or contact FTA to request a prospectus, which contains other information about the Fund. Read it carefully before you invest. The risks of investing in the Fund are spelled out in its prospectus, shareholder reports and other regulatory filings.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.

</p><p xmlns="http://www.w3.org/1999/xhtml">
This press release does not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

</p><p xmlns="http://www.w3.org/1999/xhtml">
This press release contains certain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the goals, beliefs, plans or current expectations of FTA and its respective representatives, taking into account the information currently available to them. Forward-looking statements include all statements that do not relate solely to current or historical fact. For example, forward-looking statements include the use of words such as "anticipate," "estimate," "intend," "expect," "believe," "plan," "may," "should," "would," "will" or other words that convey uncertainty of future events or outcomes. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of a Fund to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. When evaluating the information included in this press release, you are cautioned not to place undue reliance on these forward-looking statements, which reflect the judgment of FTA and its respective representatives only as of the date hereof. No obligation will be undertaken to publicly revise or update these forward-looking statements to reflect events and circumstances that arise after the date hereof.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Fund’s daily closing price and net asset value per share as well as other information can be found at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ftportfolios.com&amp;esheet=54564450&amp;newsitemid=20260702462732&amp;lan=en-US&amp;anchor=www.ftportfolios.com&amp;index=1&amp;md5=6e2268422c74c4f43e2677d6dfcf34e7" shape="rect">www.ftportfolios.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260702462732r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260702462732/en/" rel="nofollow">https://www.businesswire.com/news/home/20260702462732/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Press Inquiries: Ryan Issakainen, 630-765-8689
<br xmlns="http://www.w3.org/1999/xhtml"></br>Broker Inquiries: Sales Team, 866-848-9727

</p>

First Trust RiverFront Dynamic Developed International ETF will be renamed AFDM and shift to a non-hedged, 80%+ international developed equity mandate, using a multi-factor approach (value, momentum, quality, low volatility). The change includes a fee cut to 0.80% and a governance shift to the First Trust Investment Committee, with no sub-advisor. RFDI holders face a transitional rebranding and potential flow impact.

First Trust Announces Changes to Investment Strategies, Name and Other Related Matters for First Trust RiverFront Dynamic Developed International ETF

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

Related News