First Trust Advisors L.P. ("FTA") announces the declaration of
the Monthly distribution for First Trust Enhanced Short Maturity
ETF, a series of First Trust Exchange-Traded Fund IV.
The following dates apply to today's distribution
declaration:
Expected Ex-Dividend Date:
January 31, 2024
Record Date:
February 1, 2024
Payable Date:
February 5, 2024
Ticker
Exchange
Fund Name
Frequency
Ordinary
Income Per Share Amount
ACTIVELY MANAGED EXCHANGE-TRADED
FUNDS
First Trust Exchange-Traded Fund
IV
FTSM
Nasdaq
First Trust Enhanced Short Maturity
ETF
Monthly
$0.2550
First Trust Advisors L.P. ("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 $210 billion as of
December 31, 2023 through unit investment trusts, exchange-traded
funds, closed-end funds, mutual funds and separate managed
accounts. 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.
You should consider the investment objectives, risks, charges
and expenses of the Fund before investing. The prospectus for the
Fund contains this and other important information and is available
free of charge by calling toll-free at 1-800-621-1675 or
visiting www.ftportfolios.com. The prospectus should
be read carefully before investing.
Principal Risk Factors: Risks are inherent in all investing.
Certain risks applicable to the fund are identified below. The
material risks of investing in the fund are spelled out in its
prospectus, statement of additional information and other
regulatory filings. The order of the below risk factors does not
indicate the significance of any particular risk factor.
Past performance is no assurance of future results. Investment
return and market value of an investment in the Fund will
fluctuate. Shares, when sold, may be worth more or less than their
original cost.
The Fund's shares will change in value, and you could lose money
by investing in the Fund. An investment in the Fund is not a
deposit of a bank and is not insured or guaranteed by the Federal
Deposit Insurance Corporation or any other governmental agency.
There can be no assurance that the Fund's investment objectives
will be achieved. An investment in the Fund involves risks similar
to those of investing in any portfolio of securities traded on
exchanges.
Market risk is the risk that a particular security, or shares of
a fund in general may fall in value. Securities are subject to
market fluctuations caused by such factors as general economic
conditions, political events, regulatory or market developments,
changes in interest rates and perceived trends in securities
prices. Shares of a fund could decline in value or underperform
other investments as a result. In addition, local, regional or
global events such as war, acts of terrorism, spread of infectious
disease or other public health issues, recessions, natural
disasters or other events could have significant negative impact on
a fund.
Current market conditions risk is the risk that a particular
investment, or shares of the fund in general, may fall in value due
to current market conditions. As a means to fight inflation, the
Federal Reserve and certain foreign central banks have raised
interest rates and expect to continue to do so, and the Federal
Reserve has announced that it intends to reverse previously
implemented quantitative easing. Recent and potential future bank
failures could result in disruption to the broader banking industry
or markets generally and reduce confidence in financial
institutions and the economy as a whole, which may also heighten
market volatility and reduce liquidity. Ongoing armed conflicts
between Russia and Ukraine in Europe and among Israel, Hamas and
other militant groups in the Middle East, have caused and could
continue to cause significant market disruptions and volatility
within the markets in Russia, Europe, the Middle East and the
United States. The hostilities and sanctions resulting from those
hostilities have and could continue to have a significant impact on
certain fund investments as well as fund performance and liquidity.
The COVID-19 global pandemic, or any future public health crisis,
and the ensuing policies enacted by governments and central banks
have caused and may continue to cause significant volatility and
uncertainty in global financial markets, negatively impacting
global growth prospects.
Investors buying or selling Fund shares on the secondary market
may incur customary brokerage commissions. Investors who sell Fund
shares may receive less than the share's net asset value. Shares
may be sold throughout the day on the exchange through any
brokerage account. However, unlike mutual funds, shares may only be
redeemed directly from the Fund by authorized participants, in very
large creation/redemption units. If the Fund's authorized
participants are unable to proceed with creation/redemption orders
and no other authorized participant is able to step forward to
create or redeem, Fund shares may trade at a discount to the Fund's
net asset value and possibly face delisting.
The risk of investing in mortgage-related and other asset-based
securities include interest rate risk, extension risk and
prepayment risk. Generally, rising interest rates tend to extend
the duration of fixed rate mortgage-related securities, making them
more sensitive to changes in interest rates. Extension risk is
prevalent when in a period of rising interest rates, the fund holds
mortgage-related securities and such securities exhibit additional
volatility. Prepayments can reduce the returns of the fund because
the fund may have to reinvest that money at the lower prevailing
interest rates. The fund's investments in asset-backed securities
are subject to risks similar to those associated with
mortgage-related securities, as well as additional risks associated
with the nature of the assets and the servicing of those assets.
Investments in asset-backed or mortgage-backed securities offered
by non-governmental issuers, such as commercial banks, savings and
loans, private mortgage insurance companies, mortgage bankers and
other secondary market issuers are subject to additional risks.
An actively managed ETF is subject to management risk because it
is an actively managed portfolio. In managing such a Fund's
investment portfolio, the portfolio managers, management team, or
advisor, will apply investment techniques and risk analyses that
may not have the desired result.
An investment in a Fund containing securities of non-U.S.
issuers is subject to additional risks, including currency
fluctuations, political risks, withholding, the lack of adequate
financial information, and exchange control restrictions impacting
non-U.S. issuers.
The Fund is subject to credit risk, call risk, income risk,
interest rate risk and prepayment risk. Credit risk is the risk
that an issuer of a security will be unable or unwilling to make
dividend, interest and/or principal payments when due and that the
value of a security may decline as a result. Credit risk is
heightened for floating-rate loans and high-yield securities. Call
risk is the risk that if an issuer calls higher-yielding debt
instruments held by the Fund, performance could be adversely
impacted. Income risk is the risk that income from a Fund's
fixed-income investments could decline during periods of falling
interest rates. Interest rate risk is the risk that the value of
the fixed-income securities in the Fund will decline because of
rising market interest rates. Prepayment risk is the risk that
during periods of falling interest rates, an issuer may exercise
its right to pay principal on an obligation earlier than expected.
This may result in a decline in the Fund's income.
Senior floating-rate loans are usually rated below investment
grade but may also be unrated. As a result, the risks associated
with these loans are similar to the risks of high-yield fixed
income instruments. High-yield securities, or "junk" bonds, are
subject to greater market fluctuations and risk of loss than
securities with higher ratings, and therefore, may be highly
speculative. These securities are issued by companies that may have
limited operating history, narrowly focused operations, and/or
other impediments to the timely payment of periodic interest and
principal at maturity. The market for high yield securities is
smaller and less liquid than that for investment grade
securities.
The London Interbank Offered Rate ("LIBOR") has ceased to be
made available as a reference rate. Any potential effects of the
transition away from LIBOR on the fund or on certain instruments in
which the fund invests is difficult to predict and could result in
losses to the fund. The unavailability or replacement of LIBOR may
affect the value, liquidity or return on certain fund investments
and may result in costs incurred in connection with closing out
positions and entering into new trades.
The Fund may effect a portion of creations and redemptions for
cash, rather than in-kind securities. As a result, an investment in
the Fund may be less tax-efficient than an investment in an
exchange-traded fund that effects its creations and redemptions for
in-kind securities.
The Fund may invest in other investment companies which involves
additional expenses that would not be present in a direct
investment in the underlying funds. In addition, the Fund's
investment performance and risks may be related to the investment
and performance of the underlying funds.
The Fund is subject to risks arising from various operational
factors, including, but not limited to, human error, processing and
communication errors, errors of a fund's service providers,
counterparties or other third parties, failed or inadequate
processes and technology or systems failures. Although the Fund and
the Advisor seek to reduce these operational risks through controls
and procedures, there is no way to completely protect against such
risks.
Volatility is the characteristic of a security, an index or a
market to fluctuate significantly in price within a short time
period. The Fund may invest in securities or financial instruments
that exhibit more volatility than the market as a whole. Such
exposures could cause the Fund's net asset value to experience
significant increases or declines in value over short periods of
time.
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,
the Internal Revenue Code or any other regulatory framework.
Financial professionals are responsible for evaluating investment
risks independently and for exercising independent judgment in
determining whether investments are appropriate for their
clients.
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