May 8, 2007


Securities and Exchange Commission
100 F Street, NE
Washington, D.C.  20549

Re:Rule 17g-1 Fidelity Bond Filing-Information with Respect to Joint Fidelity
Bond filing under Investment Company Act Rule 17g-1, Bond No 99516106B for the
following management investment companies (Investment Company Act of 1940 File
Number/SEC Registration Number): First Defined Portfolio Fund, LLC (File No.
811-10015/SEC Registration No. 333-46062); First Trust Value Line(R) 100 Fund
(File No. 811-21336/ SEC Registration No. 333-104680); First Trust Value Line(R)
Dividend Fund (File No. 811-21381/SEC Registration No. 333-106392); First
Trust/Four Corners Senior Floating Rate Income Fund (File No. 811-21344/SEC
Registration Nos. 333-105251 and 333-109680); Macquarie/First Trust Global
Infrastructure/Utilities Dividend & Income Fund (File No. 811-21496/SEC
Registration No. 333-112202); First Trust/Value Line(R) & Ibbotson Equity
Allocation Fund (File No. 811-21517/SEC Registration No. 333-113080); First
Trust/Four Corners Senior Floating Rate Income Fund II (File No. 811-21539/SEC
Registration Nos. 333-113978 and 333-115414); Energy Income and Growth Fund
(File No. 811-21549/SEC Registration No. 333-114131, 333-120853 and 333-116841);
First Trust/Fiduciary Asset Management Covered Call Fund (File No. 811-21586/SEC
Registration No. 333-116023), First Trust/Aberdeen Global Opportunity Income
Fund (File No. 811-21636/SEC Registration No. 333-119081), First Trust/FIDAC
Mortgage Income Fund (File No.811-21727 /SEC Registration No.333-123262 ), First
Trust Strategic High Income Fund (File No.811-21756/SEC Registration No.
333-124146), First Trust Exchange-Traded Fund (File No. 811-21774/SEC
Registration No. 333-125751), First Trust Strategic High Income Fund II (File
No. 811-21842/SEC Registration No. 333-131194), First Trust Strategic High
Income Fund III (File No. 811-21994/SEC Registration No. 333-139549), First
Trust Tax-Advantaged Preferred Income Fund (File No. 333-132639/ SEC
Registration No. 811-21876) and First Trust/Aberdeen Emerging Opportunity Fund
(File No. 333-1354540/ SEC Registration No. 811-21905 )

Dear Sir or Madam:

         Enclosed for filing, pursuant to Rule 17g-1 of the Investment Company
Act of 1940, as amended, please find the following information with respect to
the First Trust complex of funds referenced above. Please note for the
Commission's records, the following:

                   (i) a copy of the Joint Insured Fidelity Bond. The Joint
         Insured Fidelity Bond has been amended to add Rider No. 9 naming as
         additional joint insureds 1) the First Trust Strategic High Income Fund
         III and 2) the following series of the First Trust Exchange-Traded

                           (a) First Trust S&P REIT Index Fund;
                           (b) First Trust ISE-Revere Natural Gas Index Fund;
                           (c) First Trust ISE Chindia Index Fund; and
                           (d) First Trust ISE Water Index Fund.

                  (ii) a Certificate of Assistant Secretary containing the form
         of resolutions of the Board of Trustees approving the amount, type,
         form and coverage of the Fidelity Bond, the amount of the single
         insured bond which the registrant would have provided had it not been
         named as an insured under the Fidelity Bond, and a statement as to the
         period for which premiums have been paid; and

                 (iii) a copy of the Blanket Bond Insurance Agreement.

                                             Very truly yours,

                                             FIRST TRUST PORTFOLIOS L.P.

                                             /s/ Kristi A. Maher
                                             Assistant General Counsel