Fund Description: First Trust SSI Strategic Convertible Securities ETF is an actively managed exchange-traded fund or Actively Managed ETF which is a separate investment portfolio of the First Trust Exchange-Traded Fund IV, an open-end investment management company. INVESTMENT OBJECTIVE: The First Trust SSI Strategic Convertible Securities ETF seeks to deliver total return. The Fund is an actively managed ETF and thus, does not seek to replicate the performance of a specific index, but rather uses an active investment strategy to meet its investment objective. FUND STRATEGY: Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets (including investment borrowings) in a portfolio of U.S. and non-U.S. convertible securities. In general, convertible securities combine the investment characteristics of bonds and common stocks and typically consist of debt securities or preferred securities that may be converted or exchanged within a specified period of time (typically for the entire life of the security) into a certain amount of common stock or other equity security (such equity securities referred to as underlying securities) of the same or a different issuer (and/or the cash equivalent thereof). The Fund may invest in the following convertible securities (collectively, the Convertible Securities): Convertible and exchangeable notes, bonds and debentures; Convertible preferred securities; Mandatory convertible securities; Contingent convertible securities; Synthetic convertible securities; Corporate bonds and preferred securities with attached warrants; and Convertible securities that are eligible for purchase and sale. In selecting securities for the Fund, the sub-advisor utilizes both quantitative and fundamental analysis to construct a portfolio of Convertible Securities intended to provide an attractive level of returns typically associated with investments in equity securities, but with a degree of downside protection that is provided through bond-like characteristics. The Fund may invest in Convertible Securities of any credit quality, including securities that are rated below investment grade or unrated, and with effective or final maturities of any length. In addition to investing in Convertible Securities, the Fund also may invest in the following securities and instruments. The Fund may invest up to 20% of its net assets in exchange-traded notes, 20% of its net assets in equity securities listed on domestic or ADRs and GDRs, equity securities of business development companies (BDCs), and equity securities held upon conversion of Convertible Securities into their corresponding underlying securities. In addition, the Fund may invest in exchange-listed futures contracts on equity indexes, exchange-listed and over-the-counter (OTC) index credit default swaps, and forward foreign currency exchange contracts foreign securities exchanges. The Fund is classified as non-diversified. FUND MANAGEMENT: First Trust Advisors L.P. serves as investment advisor to the Fund. SSI Investment Management Inc. serves as the Sub-Advisor to the Fund.