Fund Description: First Trust RiverFront Dynamic Europe ETF is a non-diversified, 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 RiverFront Dynamic Europe ETF seeks to provide capital appreciation. The Fund is an actively managed ETF and does not seek to replicate the performance of a specified Index. Instead, it uses an active investment strategy to seek to meet its investment objective. RiverFront Investment Group, LLC, the Sub-Advisor, subject to the oversight of the Advisor and the Board, has discretion on a daily basis to manage the Fund’s portfolio in accordance with the Fund’s investment objective and investment policies. FUND STRATEGY: Under normal market conditions, the Fund will seek to achieve its investment objective by investing at least 80% of its net assets (including investment borrowings) in a portfolio of equity securities of European companies, including through investments in common stock, depositary receipts, and common and preferred shares of real estate investment trusts (REITs), and forward foreign currency exchange contracts and currency spot transactions used to hedge the Fund's exposure to the currencies in which the equity securities of such European companies are denominated. The Fund considers a European country to be any member country of the European Union or any country included in the FTSE Developed Europe Index or the FTSE Emerging Europe All Cap Index. The Fund will generally focus its European company investments in Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and/or the United Kingdom which may change over time. The Fund will utilize a dynamic currency hedging strategy through the use of forward foreign currency exchange contracts and currency spot transactions to hedge up to 100% of the Fund's currency exposure. The Fund may enter into currency spot transactions as part of its dynamic currency hedging strategy. The Fund also may invest up to 20% of its net assets in equity securities of non-European companies, including companies in emerging market countries, with a particular focus on companies in Canada, Israel and the United States, and forward foreign currency exchange contracts and currency spot transactions used to hedge the Fund's exposure to non-European currencies as well as any proxy currency hedging transactions involving non-European currencies determined by the Sub-Advisor to be representative of, and serve as a proxy for, European currencies. The Fund will limit its investments in emerging market countries in the aggregate to no more than 20% of its net assets. The Fund considers an emerging market country to be any country whose issuers are included in the Morgan Stanley Capital International Emerging Markets Index and/or those countries considered to be developing by the World Bank, the international Finance Corporation or the United Nations. The securities in which the Fund may invest must be listed on a U.S. or non-U.S. securities exchange. The Fund may invest in small, mid and large capitalization companies. The Sub-Advisor assembles a portfolio of eligible securities based on several core attributes, including value, quality and momentum and will consider multiple factors within each core attribute, such as the price-to-book value of a security when determining value and a company's cash as a percentage of the company's market capitalization when determining quality. The Sub-Advisor then assigns each qualifying security a score based on its core attributes and selects securities with the highest scores for investment. In managing the Fund's currency exposure, the Sub-Advisor will deploy a dynamic currency hedging strategy based on a proprietary hedging methodology that considers a combination of quantitative measures, such as interest rate differentials, central bank balance sheet expansion/contraction and price momentum, and qualitative measures. FUND MANAGEMENT: First Trust Advisors L.P. serves as investment advisor to the Fund. RiverFront Investment Group, LLC (RIG) serves as the Sub-Advisor to the Fund.