CORRECTION: FT Portfolios Canada Co. Update on Timing of Merger of First Trust Short Duration High Yield Bond ETF (FHY) Into First Trust Short Duration High Yield Bond ETF (CAD-Hedged) (FSD)

TORONTO, ONTARIO--(Marketwired - Feb. 3, 2016) -

This document corrects and replaces the release sent for FT Portfolios Canada Co. at 7:05 PM ET on February 3rd. There was an error in the title. The complete and corrected title is above.

FT Portfolios Canada Co. (the "Manager"), the manager of each of First Trust Short Duration High Yield Bond ETF (CAD-Hedged) ("FSD") (TSX:FSD) and First Trust Short Duration High Yield Bond ETF ("FHY") (TSX:FHY), announced today that the previously announced merger of FHY into FSD (the "Merger") is excepted to become effective as of February 8, 2015. FSD will be the continuing fund and, as a result, holders of Common Units and Advisor Class Units of FHY will become holders of Common Units and Advisor Class Units of FSD. Exchange ratios will be determined based on the relative net asset values as of the close of business on February 5, 2016.

Prior to the implementation of the Merger, all earnings of FHY must be distributed to FHY unitholders prior to the Merger. In this regard, FHY will be paying a reinvested distribution to FHY unitholders. Reinvested distributions generally represent realized capital gains and other income or special distributions received by the Fund over and above cash distributions paid out during the period and are paid to unitholders, as required, to ensure the ETFs are not liable for ordinary income tax. The reinvested distribution is payable on February 5, 2016 to unitholders of record on February 5, 2016

Details for the estimated per unit distribution amounts are shown below, should a revision to this estimate be required an announcement will be made:

Further information about FT Portfolios Canada's ETFs can be found at www.firsttrust.ca.