CHAPMAN AND CUTLER LLP 111 WEST MONROE STREET
CHICAGO, ILLINOIS 60603

March 19, 2014

Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549

Re: First Trust Exchange-Traded Fund III
(Registration Nos. 333-176976 and 811-22245)

Ladies and Gentlemen:

On behalf of First Trust Exchange-Traded Fund III (the "Registrant"), we are transmitting for electronic filing pursuant to Rule 497(c) under the Securities Act of 1933, as amended, the exhibits containing interactive data format risk/return summary information that mirrors the risk/return summary information in the form of Prospectus for the Registrant filed pursuant to Rule 497(c) on March 3, 2014. The Registration Statement relates to First Trust Preferred Securities and Income ETF, a series of the Registrant.

If you have any questions or comments, please telephone the undersigned at
(312) 845-3484.

Very truly yours,

CHAPMAN AND CUTLER LLP 

By: /s/ Morrison C. Warren
   -------------------------------
        Morrison C. Warren

Enclosures

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