# EDGAR Filing Document

**Accession Number:** 0001517936
**File Stem:** 0001445546-25-006611
**Filing Date:** 2025-10
**Character Count:** 312012
**Document Hash:** 5346b5c7d99b8dea0abbf04c1d314725
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001445546-25-006611.hdr.sgml**: 20251007

**ACCESSION NUMBER**: 0001445546-25-006611

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 25

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20251007

**DATE AS OF CHANGE**: 20251007

**EFFECTIVENESS DATE**: 20251007

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST EXCHANGE-TRADED FUND IV
- **CENTRAL INDEX KEY:** 0001517936

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22559
- **FILM NUMBER:** 251378693

**BUSINESS ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE, SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 630-765-8000

**MAIL ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE, SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

## Series and Classes Contracts Data

### First Trust Core Investment Grade ETF (Series ID: S000082787)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000246109 | First Trust Core Investment Grade ETF | FTCB            |

### First Trust AAA CMBS ETF (Series ID: S000084026)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000248162 | First Trust AAA CMBS ETF | CAAA            |

### First Trust Structured Credit Income Opportunities ETF (Series ID: S000084090)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000248350 | First Trust Structured Credit Income Opportunities ETF | SCIO            |

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

------

#### FORM N-CSR

------

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number

811-22559

First Trust Exchange-Traded Fund IV

(Exact name of registrant as specified in charter)

------

120 East Liberty Drive, Suite 400

Wheaton, IL 60187

(Address of principal executive offices) (Zip code)

W. Scott Jardine, Esq.

First Trust Portfolios L.P.

120 East Liberty Drive, Suite 400

Wheaton, IL 60187

(Name and address of agent for service)

Registrant's telephone number, including area code:

&nbsp;&nbsp;&nbsp;&nbsp;(630) 765-8000

Date of fiscal year end:

July 31

Date of reporting period:

July 31, 2025

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

The information presented in this Form N-CSR relates solely to the fund(s) for which a report is included in Item 1 below, each a series of the Registrant.

 **Item 1. Reports to Shareholders.**

(a) Following is a copy of the annual reports transmitted to shareholders pursuant to Rule 30e-1 under the Act.

![TSR - First Trust Fund Logo](images_28895.jpg)

### First Trust Core Investment Grade ETF

#### FTCB \| NYSE Arca, Inc.

#### ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This annual shareholder report contains important information about the First Trust Core Investment Grade ETF (the "Fund") for the year of August 1, 2024 to July 31, 2025 (the "Period"). You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/FTCB. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

#### WHAT WERE THE FUND COSTS FOR THE LAST YEAR?
(Based on a hypothetical $10,000 investment)

---

| |
|:---|
| **Fund** |
| First Trust Core Investment Grade ETF$56<sup>(1)</sup>0.55%<sup>(1)</sup> |

---

<sup>(1)</sup> Excludes any Acquired Fund Fees and Expenses of underlying investment companies in which the Fund invests.

#### HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND'S PERFORMANCE?
The Fund returned 4.13% for the 12 months ended July 31, 2025. The Fund outperformed its benchmark, the Bloomberg US Aggregate Bond Index, which returned 3.38% for the same Period.

This 75 basis points ("bps") of outperformance was due to several factors during the Period:

* Overall, the Fund generated a greater level of income than the benchmark which was beneficial to relative performance. 

* The Fund benefited from its overweight allocations to Agency Mortgage-Backed Securities and Securitized Credit as spreads tightened over the Period. 

* The Fund benefited from security selection within the corporate sector, particularly in the Industrial and Financial subsectors. 

* Active yield curve positioning aided Fund performance. 

* The use of derivatives was a net benefit to the Fund. 

#### FUND PERFORMANCE (November 7, 2023 to July 31, 2025)
The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund's performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods.

#### Investment Performance of $10,000
![Fund Performance - Growth of 10K](chartimages_10479383.jpg)

---

| | | |
|:---|:---|:---|
| **Average Annual Total Returns (as of July 31, 2025)** | **1 Year** | **Since<br> Inception<br> (11/7/23)** |
| &nbsp;&nbsp;&nbsp;&nbsp;First Trust Core Investment Grade ETF | 4.13% | 7.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bloomberg US Aggregate Bond Index | 3.38% | 6.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;ICE BofA US Broad Market Index | 3.40% | 6.49% |

---

 **Visit www.ftportfolios.com/etf/FTCB for more recent performance information.**

 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

Performance in securitized product investment strategies can be impacted from the benefits of purchasing odd lot positions. The impact of these investments can be particularly meaningful when funds have limited assets under management and may not be a sustainable source of performance as a fund grows in size.

KEY FUND STATISTICS (As of July 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1273166619 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;625 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2817021 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;183% |

---

#### WHAT DID THE FUND INVEST IN? (As of July 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of net assets and percentage of total investments, respectively, of the Fund.

 **Fund Allocation**

---

| | |
|:---|:---|
| U.S. Government Agency Mortgage-Backed Securities | 36.5% |
| Corporate Bonds and Notes | 20.3% |
| Mortgage-Backed Securities | 17.5% |
| U.S. Government Bonds and Notes | 15.7% |
| Asset-Backed Securities | 5.5% |
| Foreign Corporate Bonds and Notes | 3.7% |
| U.S. Government Agency Securities | 1.1% |
| Municipal Bonds | 0.5% |
| Exchange-Traded Funds | 0.0% |
| U.S. Treasury Bills | 3.1% |
| Money Market Funds | 1.6% |
| Purchased Options | 0.0% |
| U.S. Government Agency Mortgage-Backed Securities Sold Short | (0.6%) |
| Written Options | (0.1%) |
| Net Other Assets and Liabilities<sup>(1)</sup> | (4.8%) |
| Total | 100.0% |

---

 **Credit Quality <sup>(2)</sup>**![Graphical Representation - Allocation 2 Chart](chartimages_10479393.jpg)

Any amount shown as 0.0% represents less than 0.1%.

<sup>(1)</sup> Includes variation margin on futures contracts.

<sup>(2)</sup> The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Agency, U.S. Agency mortgage-backed, and U.S. Treasury securities appear under "Government & Agency." Credit ratings are subject to change.

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/FTCB to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

First Trust Core Investment Grade ETF (FTCB)

![TSR - First Trust Fund Logo](images_28895.jpg)

### First Trust Commercial Mortgage Opportunities ETF (now known as First Trust AAA CMBS ETF)

#### CAAA \| NYSE ARCA, INC.

#### ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This annual shareholder report contains important information about the First Trust Commercial Mortgage Opportunities ETF (the "Fund") for the year of August 1, 2024 to July 31, 2025 (the "Period"). You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/CAAA. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

 **This report describes changes to the Fund that occurred during and after the reporting period.**

#### WHAT WERE THE FUND COSTS FOR THE LAST YEAR?
(Based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Fund** | **Costs of a $10,000 investment** |
| First Trust Commercial Mortgage Opportunities ETF | $570.55%<sup>(1)</sup> |

---

<sup>(1)</sup> Includes excise tax. If this excise tax expense was not included, the expense ratio would have been 0.54%.

#### HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND'S PERFORMANCE?
The Fund returned 6.08% for the 12 months ended July 31, 2025. The Fund underperformed its benchmark, the Bloomberg Non-Agency Investment Grade CMBS: US Aggregate Eligible Aaa Index, which returned 6.10% for the same Period.

This 2 basis points ("bps") of underperformance was due to several factors during the Period:

* Overall, the Fund generated a greater level of income than the benchmark, which aided performance. 

* The Fund was overweight to single-asset single-borrower floaters and Conduit Commercial Mortgage-Backed Securities Interest-Only tranches. The allocation to these sectors was beneficial to the Fund's performance. 

* Security selection within in-benchmark securities, fixed rate Conduit Principal & Interest bonds, generated relative underperformance. 

* While utilized to primarily manage yield curve risk, the use of derivatives was mildly detrimental to the Fund's performance. 

#### FUND PERFORMANCE (February 27, 2024 to July 31, 2025)
The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund's performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods.

#### Investment Performance of $10,000
![Fund Performance - Growth of 10K](chartimages_10479425.jpg)

---

| | | |
|:---|:---|:---|
| **Average Annual Total Returns (as of July 31, 2025)** | **1 Year** | **Since<br> Inception<br> (2/27/24)** |
| &nbsp;&nbsp;&nbsp;&nbsp;First Trust Commercial Mortgage Opportunities ETF | 6.08% | 6.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bloomberg Non-Agency Investment Grade CMBS: US Aggregate Eligible Aaa Index | 6.10% | 6.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bloomberg US Aggregate Bond Index | 3.38% | 5.07% |

---

 **Visit www.ftportfolios.com/etf/CAAA for more recent performance information.**

 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

Performance in securitized product investment strategies can be impacted from the benefits of purchasing odd lot positions. The impact of these investments can be particularly meaningful when funds have limited assets under management and may not be a sustainable source of performance as a fund grows in size.

KEY FUND STATISTICS (As of July 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$18286259 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;70 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$78749 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;92% |

---

#### WHAT DID THE FUND INVEST IN? (As of July 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of net assets and percentage of total investments, respectively, of the Fund.

 **Fund Allocation**

---

| | |
|:---|:---|
| Mortgage-Backed Securities | 95.0% |
| U.S. Government Agency Mortgage-Backed Securities | 0.6% |
| Money Market Funds | 3.6% |
| Net Other Assets and Liabilities<sup>(1)</sup> | 0.8% |
| Total | 100.0% |

---

 **Credit Quality <sup>(2)</sup>**![Graphical Representation - Allocation 2 Chart](chartimages_10479435.jpg)

<sup>(1)</sup> Includes variation margin on futures contracts.

<sup>(2)</sup> The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Agency, U.S. Agency mortgage-backed, and U.S. Treasury securities appear under "Government & Agency." Credit ratings are subject to change.

#### HOW HAS THE FUND MATERIALLY CHANGED?
This is a summary of certain changes to the Fund since August 1, 2024. For more complete information, you may review the Fund's prospectus and any applicable supplements at www.ftportfolios.com/fund-documents/etf/CAAA or upon request at 1-800-621-1675 or info@ftportfolios.com.

Effective June 30, 2025, the Fund's annual unitary management fee was reduced from 0.55% to 0.45% of the Fund's average daily net assets.

Effective September 2, 2025, the Fund changed its name from First Trust Commercial Mortgage Opportunities ETF to First Trust AAA CMBS ETF. In connection with the change to the Fund's name, the Fund's non-fundamental investment policy adopted pursuant to Rule 35d-1 under the Investment Company Act of 1940 was revised as follows:

Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in commercial mortgage-backed securities with a 'AAA' rating (or equivalent) at the time of purchase, as determined by at least one nationally recognized statistical rating organization or, if unrated, as determined by the Advisor to be of comparable credit quality at the time of purchase.

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/CAAA to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

First Trust Commercial Mortgage Opportunities ETF (CAAA)

![TSR - First Trust Fund Logo](images_28895.jpg)

### First Trust Structured Credit Income Opportunities ETF

#### SCIO \| NYSE Arca, Inc.

#### ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This annual shareholder report contains important information about the First Trust Structured Credit Income Opportunities ETF (the "Fund") for the year of August 1, 2024 to July 31, 2025 (the "Period"). You can find additional information about the Fund at www.ftportfolios.com/fund-documents/etf/SCIO. You can also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

 **This report describes changes to the Fund that occurred during the reporting period.**

#### WHAT WERE THE FUND COSTS FOR THE LAST YEAR?
(Based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br> of a $10,000 investment** |
| First Trust Structured Credit Income Opportunities ETF | $98 | 0.94% |

---

#### HOW DID THE FUND PERFORM LAST YEAR? WHAT AFFECTED THE FUND'S PERFORMANCE?
The Fund returned 8.85% for the 12 months ended July 31, 2025. The Fund outperformed its benchmark, the ICE BofA ABS & CMBS Index, which returned 5.57% for the same Period.

This 328 basis points ("bps") of outperformance was due to several factors during the Period:

* The Fund generated a significantly higher level of income than its benchmark, which aided relative Fund performance. 

* Overall, the Fund's allocation to lower rated securitized credit sectors aided performance, as spreads tightened over the Period. 

* While generally used to manage yield curve exposures, the use of derivatives was a net benefit to the Fund's performance. 

#### FUND PERFORMANCE (February 27, 2024 to July 31, 2025)
The performance line graph below shows the performance of a hypothetical $10,000 initial investment in the Fund over a ten-year period (or for the life of the Fund, if shorter). The subsequent account value as of the end of the Period is listed next to the name of the Fund or index, as applicable. The performance table below shows the average annual total returns of the Fund for the past one-, five-, and ten-year periods, as applicable (or for the life of the Fund, if shorter), as of the end of the Period. Both the line graph and performance table compare the Fund's performance to an appropriate broad-based index and may compare to additional indices reflecting the market segment(s) in which the Fund invests over the same periods.

#### Investment Performance of $10,000
![Fund Performance - Growth of 10K](chartimages_10479467.jpg)

---

| | | |
|:---|:---|:---|
| **Average Annual Total Returns (as of July 31, 2025)** | **1 Year** | **Since<br> Inception<br> (2/27/24)** |
| &nbsp;&nbsp;&nbsp;&nbsp;First Trust Structured Credit Income Opportunities ETF | 8.85% | 9.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;ICE BofA US ABS & CMBS Index | 5.57% | 6.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bloomberg US Aggregate Bond Index | 3.38% | 5.07% |

---

 **Visit www.ftportfolios.com/etf/SCIO for more recent performance information.**

 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

Performance in securitized product investment strategies can be impacted from the benefits of purchasing odd lot positions. The impact of these investments can be particularly meaningful when funds have limited assets under management and may not be a sustainable source of performance as a fund grows in size.

KEY FUND STATISTICS (As of July 31, 2025)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$25684046 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;89 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$130237 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;100% |

---

#### WHAT DID THE FUND INVEST IN? (As of July 31, 2025)
The tables below show the investment makeup of the Fund, representing the percentage of net assets and percentage of total investments, respectively, of the Fund.

 **Fund Allocation**

---

| | |
|:---|:---|
| Mortgage-Backed Securities | 55.1% |
| Asset-Backed Securities | 31.7% |
| U.S. Government Agency Mortgage-Backed Securities | 6.5% |
| Money Market Funds | 11.9% |
| Purchased Options | 0.0% |
| Net Other Assets and Liabilities<sup>(1)</sup> | (5.2%) |
| Total | 100.0% |

---

 **Credit Quality <sup>(2)</sup>**![Graphical Representation - Allocation 2 Chart](chartimages_10479477.jpg)

Any amount shown as 0.0% represents less than 0.1%.

<sup>(1)</sup> Includes variation margin on futures contracts.

<sup>(2)</sup> The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Agency, U.S. Agency mortgage-backed, and U.S. Treasury securities appear under "Government & Agency." Credit ratings are subject to change.

#### HOW HAS THE FUND MATERIALLY CHANGED?
This is a summary of certain changes to the Fund since August 1, 2024. For more complete information, you may review the Fund's prospectus and any applicable supplements at www.ftportfolios.com/fund-documents/etf/SCIO or upon request at 1-800-621-1675 or info@ftportfolios.com.

Effective June 30, 2025, the Fund's annual unitary management fee was reduced from 0.95% to 0.85% of the Fund's average daily net assets.

#### WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
Visit www.ftportfolios.com/fund-documents/etf/SCIO to view additional information about the Fund such as the prospectus, financial information, Fund holdings and proxy voting information. You may also request this information by contacting us at 1-800-621-1675 or info@ftportfolios.com.

First Trust Structured Credit Income Opportunities ETF (SCIO)

------

(b) Not applicable to the Registrant.

**Item 2. Code of Ethics.**

&nbsp;&nbsp;&nbsp;&nbsp;(a) The First Trust Exchange-Traded Fund IV ("Registrant"), as of the end of the period covered by
 this report, has adopted a code of ethics that applies to the Registrant's principal executive officer, principal financial officer,
 principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed
 by the Registrant or a third party.

&nbsp;&nbsp;&nbsp;&nbsp;(c) There have been no amendments, during the period covered by this report, to a provision of the code of ethics
 that applies to the Registrant's principal executive officer, principal financial officer, principal accounting officer or controller,
 or persons performing similar functions, regardless of whether these individuals are employed by the Registrant or a third party, and
 that relates to any element of the code of ethics description.

&nbsp;&nbsp;&nbsp;&nbsp;(d) The Registrant, during the period covered by this report, has not granted any waivers, including an implicit
 waiver, from a provision of the code of ethics that applies to the Registrant's principal executive officer, principal financial
 officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals
 are employed by the Registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item's
 instructions.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;(f) A copy of the code of ethics that applies to the Registrant's principal executive officer, principal
 financial officer, principal accounting officer or controller is filed as an exhibit pursuant to Item 13(a)(1).

**Item 3. Audit Committee Financial Expert.**

The Registrant's Board of Trustees has determined that Thomas J. Driscoll, Thomas R. Kadlec and Robert F. Keith are qualified to serve as audit committee financial experts serving on its audit committee and that each of them is "independent," as defined by Item 3 of Form N-CSR.

**Item 4. Principal Accountant Fees and Services.**

&nbsp;&nbsp;&nbsp;&nbsp;(a) Audit Fees (Registrant) -- The aggregate fees billed for professional services rendered by the principal accountant
 for the audit of the Registrant's annual financial statements or services that are normally provided by the accountant in connection
 with statutory and regulatory filings or engagements were $90,750 for the fiscal year ended 2024 and $105,875 for the fiscal year ended
 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Audit-Related Fees (Registrant) -- The aggregate fees billed for assurance and related services by the principal
 accountant that are reasonably related to the performance of the audit of the Registrant's financial statements and are not reported
 under paragraph (a) of this Item were $0 for the fiscal year ended 2024 and $0 for the fiscal year ended 2025.

Audit-Related Fees (Investment Advisor) -- The aggregate fees billed for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the Registrant's financial statements and are not reported under paragraph (a) of this Item were $0 for the fiscal year ended 2024 and $0 for the fiscal year ended 2025.

Audit-Related Fees (Distributor) -- The aggregate fees billed for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the Registrant's financial statements and are not reported under paragraph (a) of this Item were $0 for the fiscal year ended 2024 and $0 for the fiscal year ended 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Tax Fees (Registrant) -- The aggregate fees billed for professional services rendered by the principal accountant
 for tax return review and debt instrument tax analysis and reporting were $21,000 for the fiscal year ended 2024 and $74,483 for the fiscal
 year ended 2025.

Tax Fees (Investment Advisor) -- The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning to the Registrant's advisor were $0 for the fiscal year ended 2024 and $0 for the fiscal year ended 2025.

Tax Fees (Distributor) -- The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning to the Registrant's distributor were $0 for the fiscal year ended 2024 and $0 for the fiscal year ended 2025.

These fees were for tax consultation and/or tax return preparation and professional services rendered for PFIC (Passive Foreign Investment Company) Identification Services.

&nbsp;&nbsp;&nbsp;&nbsp;(d) All Other Fees (Registrant) -- The aggregate fees billed for products and services provided by the principal
 accountant to the Registrant, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the fiscal year
 ended 2024 and $0 for the fiscal year ended 2025.

All Other Fees (Investment Advisor) -- The aggregate fees billed for products and services provided by the principal accountant to the Registrant's investment advisor, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the fiscal year ended 2024 and $0 for the fiscal year ended 2025.

All Other Fees (Distributor) -- The aggregate fees billed for products and services provided by the principal accountant to the Registrant's distributor, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the fiscal year ended 2024 and $0 for the fiscal year ended 2025.

(e)(1) Disclose the audit committee's pre-approval policies and procedures described in paragraph (c) (7) of Rule 2-01 of Regulation S-X.

Pursuant to its charter and its Audit and Non-Audit Services Pre-Approval Policy, the Audit Committee (the "Committee") is responsible for the pre-approval of all audit services and permitted non-audit services (including the fees and terms thereof) to be performed for the Registrant by its independent auditors. The Chairman of the Committee is authorized to give such pre-approvals on behalf of the Committee up to $25,000 and report any such pre-approval to the full Committee.

The Committee is also responsible for the pre-approval of the independent auditor's engagements for non-audit services with the Registrant's advisor (not including a sub-advisor whose role is primarily portfolio management and is sub-contracted or overseen by another investment advisor) and any entity controlling, controlled by or under common control with the investment advisor that provides ongoing services to the Registrant, if the engagement relates directly to the operations and financial reporting of the Registrant, subject to the de minimis exceptions for non-audit services described in Rule 2-01 of Regulation S-X. If the independent auditor has provided non-audit services to the Registrant's advisor (other than any sub-advisor whose role is primarily portfolio management and is sub-contracted with or overseen by another investment advisor) and any entity controlling, controlled by or under common control with the investment advisor that provides ongoing services to the Registrant that were not pre-approved pursuant to its policies, the Committee will consider whether the provision of such non-audit services is compatible with the auditor's independence.

(e)(2) The percentage of services described in each of paragraphs (b) through (d) for the Registrant and the Registrant's investment advisor and distributor of this Item that were approved by the audit committee pursuant to the pre-approval exceptions included in paragraph (c)(7)(i)(C) or paragraph(C)(7)(ii) of Rule 2-01 of Regulation S-X are as follows:

---

| | |
|:---|:---|
| &nbsp;&nbsp;Registrant: | &nbsp;&nbsp;Advisor and Distributor: |
| &nbsp;&nbsp;(b) 0% | &nbsp;&nbsp; (b) 0% |
| &nbsp;&nbsp;(c) 0% | &nbsp;&nbsp; (c) 0% |
| &nbsp;&nbsp;(d) 0% | &nbsp;&nbsp; (d) 0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(f) The percentage of hours expended on the principal accountant's engagement to audit the Registrant's
 financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant's
 full-time, permanent employees was less than fifty percent.

&nbsp;&nbsp;&nbsp;&nbsp;(g) The aggregate non-audit fees billed by the Registrant's accountant for services rendered to the Registrant,
 and rendered to the Registrant's investment advisor (not including any sub-advisor whose role is primarily portfolio management
 and is subcontracted with or overseen by another investment advisor), and any entity controlling, controlled by, or under common control
 with the advisor that provides ongoing services to the Registrant for the fiscal year ended 2024 were $21,000 for the Registrant, $15,600
 for the Registrant's investment advisor and $18,000 for the Registrant's distributor; and for the fiscal year ended 2025 were
 $74,483 for the Registrant, $12,480 for the Registrant's investment advisor and $14,400 for the Registrant's distributor.

&nbsp;&nbsp;&nbsp;&nbsp;(h) The Registrant's audit committee of its Board of Trustees has determined that the provision of non-audit
 services that were rendered to the Registrant's investment advisor (not including any sub-advisor whose role is primarily portfolio
 management and is subcontracted with or overseen by another investment advisor), and any entity controlling, controlled by, or under common
 control with the investment advisor that provides ongoing services to the Registrant that were not pre-approved pursuant to paragraph
 (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant's independence.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Not applicable to the Registrant.

&nbsp;&nbsp;&nbsp;&nbsp;(j) Not applicable to the Registrant.

**Item 5. Audit Committee of Listed Registrants.**

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant has a separately designated standing audit committee established in accordance with Section
 3(a)(58)(A) of the Securities Exchange Act of 1934 consisting of all the independent directors of the Registrant. The audit committee
 of the Registrant is comprised of: Thomas J. Driscoll, Richard E. Erickson, Thomas R. Kadlec, Denise M. Keefe, Robert F. Keith, Niel B.
 Nielson and Bronwyn Wright.

(b) Not applicable to the Registrant.

**Item 6. Investments.**

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period
 is included in the Financial Statements and Other Information filed under Item 7(a) of this Form N-CSR.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable to the Registrant.

**Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.**

(a) Following is a copy of the annual financial statement(s) required, and for the periods specified, by Regulation S-X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Annual Financial Statements and Other Information <br> For the Year Ended July 31, 2025

![](imgfd8b4d2e1.gif)

<u>First Trust Exchange-Traded Fund IV</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

First Trust Core Investment Grade ETF (FTCB) <br> First Trust Commercial Mortgage Opportunities ETF (CAAA) (now known as First Trust AAA CMBS ETF) <br> First Trust Structured Credit Income Opportunities ETF (SCIO)

------

**Table of Contents** 

**First Trust Exchange-Traded Fund IV**

**Annual Financial Statements and Other Information**

**July 31, 2025** 

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_92f47fd7-fd20-463d-b173-940d2cf759d0_SOI-TOC-ScheduleofInvestments-4634_1) |  |
| [First Trust Core Investment Grade ETF (FTCB)](#xx_92f47fd7-fd20-463d-b173-940d2cf759d0_SOI-TOC-ScheduleofInvestments-4634_1) | 1 |
| [First Trust Commercial Mortgage Opportunities ETF (CAAA)](#xx_92f47fd7-fd20-463d-b173-940d2cf759d0_SOI-TOC-ScheduleofInvestments-4661_1) | 23 |
| [First Trust Structured Credit Income Opportunities ETF (SCIO)](#xx_92f47fd7-fd20-463d-b173-940d2cf759d0_SOI-TOC-ScheduleofInvestments-4663_1) | 27 |
| [Statements of Assets and Liabilities](#xx_92f47fd7-fd20-463d-b173-940d2cf759d0_SAL1-TOC-StatementofAssetsandLiabilities-4634_2) | 34 |
| [Statements of Operations](#xx_92f47fd7-fd20-463d-b173-940d2cf759d0_SOP1-TOC-StatementofOperations-4634_1) | 35 |
| [Statements of Changes in Net Assets](#xx_92f47fd7-fd20-463d-b173-940d2cf759d0_SOC1-TOC-StatementofChanges-4634_1) | 36 |
| [Financial Highlights](#xx_92f47fd7-fd20-463d-b173-940d2cf759d0_FIHI-TOC-FinancialHighlights-4634_1) | 38 |
| [Notes to Financial Statements](#xx_92f47fd7-fd20-463d-b173-940d2cf759d0_NTF-TOC-NotestoFinancialStatements-4634_1) | 41 |
| [Report of Independent Registered Public Accounting Firm](#xx_92f47fd7-fd20-463d-b173-940d2cf759d0_AUD-TOC-RIRPAFirm-4634_1) | 53 |
| [Other Information](#xx_92f47fd7-fd20-463d-b173-940d2cf759d0_AI-TOC-AdditionalInformation-4634_1) | 54 |

---

**Performance and Risk Disclosure**

There is no assurance that any series of First Trust Exchange-Traded Fund IV (the "Trust") described in this report (each such series is referred to as a "Fund" and collectively, as the "Funds") will achieve its investment objective. Each Fund is subject to market risk, which is the possibility that the market values of securities owned by the Fund will decline and that the value of the Fund's shares may therefore be less than what you paid for them. Accordingly, you can lose money by investing in a Fund.

Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. For the most recent month-end performance figures, please visit www.ftportfolios.com or speak with your financial advisor. Investment returns, net asset value and share price will fluctuate and Fund shares, when sold, may be worth more or less than their original cost.

First Trust Advisors L.P., the Funds' advisor, may also periodically provide additional information on Fund performance on each Fund's webpage at www.ftportfolios.com.

**How to Read This Report**

This report contains information that may help you evaluate your investment. It includes details about each Fund and presents data that provides insight into each Fund's performance and investment approach.

The material risks of investing in each Fund are spelled out in its prospectus, statement of additional information, and other Fund regulatory filings.

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments**

**July 31, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Stated** <br>**Coupon**<br>| **Stated** <br>**Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 36.5%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 36.5%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 36.5%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 36.5%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 36.5%** |
|  | **Collateralized Mortgage Obligations — 17.7%** | **Collateralized Mortgage Obligations — 17.7%** | **Collateralized Mortgage Obligations — 17.7%** |  |
|  | Federal Home Loan Mortgage Corporation |  |  |  |
| $395574 | Series 2019-4942, Class FA, 30 Day Average SOFR + CSA + <br> 0.50% (a) | 4.96% | 01/25/50 | $382901 |
| 2609319 | Series 2015-4499, Class CZ | 3.50% | 08/15/45 | 2232091 |
| 1465459 | Series 2016-4639, Class HZ | 3.25% | 04/15/53 | 1195078 |
| 2932809 | Series 2017-4745, Class CZ | 3.50% | 01/15/48 | 2634863 |
| 3754585 | Series 2022-5202, Class NV | 3.00% | 01/25/37 | 3453016 |
| 4189983 | Series 2022-5224, Class DZ | 4.00% | 04/25/52 | 3726361 |
| 12105000 | Series 2022-5224, Class HL | 4.00% | 04/25/52 | 10864420 |
| 10474821 | Series 2022-5259, Class FA, 30 Day Average SOFR + 0.70% (a) | 5.05% | 09/25/52 | 10186474 |
| 2914692 | Series 2024-5460, Class FN, 30 Day Average SOFR + 1.10% (a) | 5.45% | 10/25/54 | 2886852 |
| 9636945 | Series 2024-5476, Class FA, 30 Day Average SOFR + 1.10% (a) | 5.45% | 11/25/54 | 9575596 |
| 958221 | Series 2024-5478, Class NF, 30 Day Average SOFR + 1.30% (a) | 5.65% | 12/25/54 | 957238 |
| 3438181 | Series 2024-5487, Class ZM | 3.50% | 12/25/54 | 2757869 |
| 4617851 | Series 2025-5500, Class CZ | 4.50% | 02/25/55 | 3995726 |
| 6325447 | Series 2025-5502, Class FC, 30 Day Average SOFR + 2.00%, <br> 6.00% Cap (a) | 6.00% | 02/25/55 | 6367880 |
| 8694061 | Series 2025-5506, Class DZ | 3.50% | 08/25/42 | 7051225 |
|  | Federal Home Loan Mortgage Corporation Seasoned Credit Risk <br> Transfer Trust |  |  |  |
| 1172978 | Series 2017-1, Class HA | 3.00% | 01/25/56 | 1097612 |
| 1734597 | Series 2017-2, Class MA | 3.00% | 08/25/56 | 1613583 |
| 2418671 | Series 2018-1, Class MA | 3.00% | 05/25/57 | 2268954 |
| 1408518 | Series 2018-1, Class MT | 3.00% | 05/25/57 | 1188979 |
| 1533290 | Series 2018-3, Class HV | 3.00% | 08/25/57 | 1349539 |
| 377853 | Series 2018-3, Class MA | 3.50% | 08/25/57 | 362944 |
| 574719 | Series 2018-4, Class MA | 3.50% | 03/25/58 | 552705 |
| 1155010 | Series 2019-1, Class MA | 3.50% | 07/25/58 | 1108052 |
| 2779182 | Series 2019-2, Class HV | 3.00% | 08/25/58 | 2443346 |
| 3703075 | Series 2019-2, Class MA | 3.50% | 08/26/58 | 3537394 |
| 7558761 | Series 2019-2, Class MV | 3.50% | 08/25/58 | 6981119 |
| 575225 | Series 2019-4, Class HA | 3.00% | 02/25/59 | 528070 |
| 393484 | Series 2019-4, Class MA | 3.00% | 02/25/59 | 363409 |
|  | Federal Home Loan Mortgage Corporation Seasoned Loans <br> Structured Transaction Trust |  |  |  |
| 232804 | Series 2018-2, Class A2 | 3.50% | 11/25/28 | 224809 |
| 449879 | Series 2019-2, Class A1C | 2.75% | 09/25/29 | 424794 |
| 155329 | Series 2019-3, Class A1C | 2.75% | 11/25/29 | 146456 |
| 582296 | Series 2020-2, Class AC | 2.00% | 09/25/30 | 521593 |
| 953789 | Series 2024-2, Class VF, 30 Day Average SOFR + 1.25% (a) (b) | 5.60% | 10/25/34 | 970085 |
|  | Federal Home Loan Mortgage Corporation STACR REMIC Trust |  |  |  |
| 5686486 | Series 2024-DNA2, Class A1, 30 Day Average SOFR + <br> 1.25% (a) (b) | 5.60% | 05/25/44 | 5713196 |
| 726667 | Series 2024-HQA2, Class A1, 30 Day Average SOFR + <br> 1.25% (a) (b) | 5.60% | 08/25/44 | 730305 |
| 1475000 | Series 2025-DNA1, Class A1, 30 Day Average SOFR + <br> 0.95% (a) (b) | 5.30% | 01/25/45 | 1476750 |
| 1937500 | Series 2025-HQA1, Class A1, 30 Day Average SOFR + <br> 0.95% (a) (b) | 5.30% | 02/25/45 | 1937201 |
|  | Federal National Mortgage Association |  |  |  |
| 5049427 | Series 2012-118, Class VZ | 3.00% | 11/25/42 | 4571056 |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** |  |
|  | Federal National Mortgage Association (Continued) |  |  |  |
| $1247379 | Series 2013-41, Class ZA | 3.00% | 05/25/43 | $1128337 |
| 264466 | Series 2013-136, Class DZ | 3.00% | 01/25/44 | 238620 |
| 3908301 | Series 2014-60, Class EZ | 3.00% | 10/25/44 | 3509381 |
| 275602 | Series 2018-45, Class FT, 30 Day Average SOFR + CSA + <br> 0.30% (a) | 4.76% | 06/25/48 | 265889 |
| 138741 | Series 2019-33, Class F, 30 Day Average SOFR + CSA + <br> 0.45% (a) | 4.91% | 07/25/49 | 134923 |
| 328455 | Series 2020-47, Class FA, 30 Day Average SOFR + CSA + <br> 0.40% (a) | 4.86% | 07/25/50 | 318321 |
| 9856982 | Series 2022-29, Class KZ | 1.50% | 06/25/42 | 7169822 |
| 4481737 | Series 2022-69, Class FA, 30 Day Average SOFR + 0.82% (a) | 5.17% | 10/25/52 | 4326501 |
| 4912703 | Series 2022-70, Class FA, 30 Day Average SOFR + 0.86% (a) | 5.21% | 10/25/52 | 4752418 |
| 3957707 | Series 2024-20, Class ZQ | 4.00% | 10/25/45 | 3424916 |
| 1002977 | Series 2024-39, Class AV | 3.00% | 11/25/33 | 945516 |
| 956452 | Series 2024-56, Class EV | 5.00% | 08/25/35 | 959375 |
| 3337447 | Series 2024-81, Class FE, 30 Day Average SOFR + 1.15% (a) | 5.50% | 07/25/54 | 3315781 |
| 3462278 | Series 2024-84, Class FD, 30 Day Average SOFR + 1.15% (a) | 5.50% | 11/25/54 | 3442518 |
| 18116095 | Series 2024-98, Class FG, 30 Day Average SOFR + 1.00% (a) | 5.35% | 11/25/54 | 18066393 |
|  | Government National Mortgage Association |  |  |  |
| 2561782 | Series 2018-89, Class VZ | 3.50% | 06/20/48 | 2249485 |
| 5192506 | Series 2021-105, Class DT | 5.50% | 06/20/51 | 5268606 |
| 6965655 | Series 2022-9, Class AC | 5.50% | 01/20/52 | 7111410 |
| 6850986 | Series 2022-9, Class GJ | 5.50% | 01/20/52 | 6994553 |
| 4857663 | Series 2022-139, Class AL | 4.00% | 07/20/51 | 4343742 |
| 552085 | Series 2024-125, Class NV | 5.00% | 08/20/35 | 556701 |
| 10658153 | Series 2024-181, Class FQ, 30 Day Average SOFR + 1.15% (a) | 5.50% | 11/20/54 | 10621238 |
| 7561052 | Series 2025-41, Class QV | 4.50% | 04/20/36 | 7336660 |
| 4377299 | Series 2025-83, Class SB, (30 Day Average SOFR) ×-2.50+ <br> 14.50% (c) | 3.63% | 05/20/55 | 4225361 |
| 4280967 | Series 2025-95, Class DC, (30 Day Average SOFR) ×-2.50+ <br> 14.63% (c) | 3.76% | 05/20/55 | 3883135 |
| 8797038 | Series 2025-98, Class SX, (30 Day Average SOFR) ×-1.80+ <br> 10.44% (c) | 2.61% | 06/20/55 | 7618604 |
| 5366780 | Series 2025-100, Class JS, (30 Day Average SOFR) ×-2.75+ <br> 15.95% (c) | 3.99% | 06/20/55 | 5055704 |
|  |  |  |  | 225643451 |
|  | **Commercial Mortgage-Backed Securities — 2.1%** | **Commercial Mortgage-Backed Securities — 2.1%** | **Commercial Mortgage-Backed Securities — 2.1%** |  |
|  | Federal Home Loan Mortgage Corporation Multiclass Certificates |  |  |  |
| 5795000 | Series 2020-RR07, Class BX, IO (d) | 2.61% | 10/27/28 | 361837 |
| 5778199 | Series 2020-RR14, Class X, IO (e) | 2.13% | 03/27/34 | 780079 |
|  | Federal Home Loan Mortgage Corporation Multifamily PC REMIC <br> Trust |  |  |  |
| 23500000 | Series 2019-RR01, Class X, IO (d) | 1.53% | 06/25/28 | 844430 |
|  | Federal Home Loan Mortgage Corporation Multifamily Structured <br> Pass Through Certificates |  |  |  |
| 4950000 | Series 2019-K094, Class XAM, IO (e) | 1.15% | 06/25/29 | 199844 |
| 5296573 | Series 2019-K097, Class X1, IO (e) | 1.08% | 07/25/29 | 192016 |
| 23810637 | Series 2019-K101, Class X1, IO (d) | 0.83% | 10/25/29 | 701497 |
| 392208 | Series 2019-K103, Class A1 | 2.31% | 06/25/29 | 377627 |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | Federal Home Loan Mortgage Corporation Multifamily Structured <br> Pass Through Certificates (Continued) |  |  |  |
| $2897050 | Series 2019-K736, Class X1, IO (e) | 1.26% | 07/25/26 | $25162 |
| 217105 | Series 2019-K1510, Class A3 | 3.79% | 01/25/34 | 202445 |
| 672695 | Series 2019-K1510, Class X1, IO (e) | 0.48% | 01/25/34 | 19199 |
| 26574169 | Series 2019-K1512, Class X1, IO (e) | 0.90% | 04/25/34 | 1370791 |
| 9989375 | Series 2020-K104, Class X1, IO (e) | 1.11% | 01/25/30 | 406945 |
| 5200000 | Series 2020-K104, Class XAM, IO (e) | 1.38% | 01/25/30 | 284282 |
| 18922884 | Series 2020-K110, Class X1, IO (e) | 1.64% | 04/25/30 | 1167476 |
| 34060943 | Series 2020-K115, Class X1, IO (e) | 1.32% | 06/25/30 | 1803101 |
| 7842103 | Series 2020-K116, Class X1, IO (e) | 1.41% | 07/25/30 | 436804 |
| 8373795 | Series 2020-K118, Class X1, IO (e) | 0.95% | 09/25/30 | 331835 |
| 72061672 | Series 2020-K120, Class X1, IO (e) | 1.03% | 10/25/30 | 3058016 |
| 8494152 | Series 2020-KG03, Class X1, IO (e) | 1.37% | 06/25/30 | 449725 |
| 9729355 | Series 2020-KG04, Class X1, IO (e) | 0.84% | 11/25/30 | 345738 |
| 400059 | Series 2020-K1517, Class X1, IO (e) | 1.32% | 07/25/35 | 36705 |
| 34258159 | Series 2021-K130, Class X1, IO (e) | 1.03% | 06/25/31 | 1682120 |
| 92115392 | Series 2021-K132, Class X1, IO (e) | 0.51% | 08/25/31 | 2347155 |
| 2178850 | Series 2021-K743, Class X1, IO (e) | 0.91% | 05/25/28 | 47993 |
| 16680447 | Series 2021-KG05, Class X1, IO (e) | 0.31% | 01/25/31 | 234474 |
| 269659 | Series 2022-K142, Class A1 | 2.40% | 12/25/31 | 247994 |
| 1776500 | Series 2022-K143, Class XAM, IO (e) | 0.39% | 04/25/55 | 42512 |
| 919000 | Series 2024-K757, Class XAM, IO (e) | 0.99% | 08/25/31 | 48106 |
| 4437000 | Series 2024-K165, Class XAM, IO (e) | 0.91% | 09/25/34 | 308478 |
| 22349000 | Series 2024-K167, Class XAM, IO (e) | 0.37% | 11/25/34 | 717582 |
| 325000 | Series 2024-KJ51, Class A2 | 4.70% | 01/25/32 | 326617 |
| 300000 | Series 2024-KJ52, Class A2 | 4.76% | 01/25/32 | 302190 |
|  | Federal Home Loan Mortgage Corporation Multifamily Structured <br> Pass-Through Certificates |  |  |  |
| 116788000 | Series 2024-K164, Class XAM, IO (e) | 0.27% | 06/25/34 | 2874770 |
|  | Federal National Mortgage Association Alternative Credit <br> Enhancement Securities |  |  |  |
| 345415 | Series 2024-M3, Class Z (e) | 4.55% | 04/25/53 | 279265 |
|  | FREMF Mortgage Trust |  |  |  |
| 73540322 | Series 2025-K541, Class X1, IO (e) | 0.64% | 02/25/30 | 1942200 |
|  | Government National Mortgage Association |  |  |  |
| 30464950 | Series 2024-32, Class IO, IO (e) | 0.70% | 06/16/63 | 1493249 |
|  |  |  |  | 26290259 |
|  | **Pass-Through Securities — 16.7%** | **Pass-Through Securities — 16.7%** | **Pass-Through Securities — 16.7%** |  |
|  | Federal Home Loan Mortgage Corporation | Federal Home Loan Mortgage Corporation | Federal Home Loan Mortgage Corporation | Federal Home Loan Mortgage Corporation |
| 814498 | Pool RB5112  | 2.50% | 05/01/41 | 721702 |
| 5767359 | Pool RB5126  | 2.50% | 09/01/41 | 5098268 |
| 1624215 | Pool RE6076  | 2.00% | 12/01/50 | 1243133 |
| 15975812 | Pool SD5829  | 4.50% | 10/01/52 | 15227942 |
| 3494984 | Pool SD7309  | 4.00% | 02/01/45 | 3327541 |
| 595924 | Pool SD7550  | 3.00% | 02/01/52 | 520389 |
| 5345235 | Pool SL0847  | 3.50% | 04/01/49 | 4862352 |
| 654010 | Pool ZS9776  | 3.50% | 08/01/46 | 600643 |
| 4175440 | Pool ZT0794  | 4.50% | 10/01/48 | 4043838 |
| 17712529 | Pool ZT2264  | 4.00% | 03/01/44 | 16859750 |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Pass-Through Securities (Continued)** | **Pass-Through Securities (Continued)** | **Pass-Through Securities (Continued)** |  |
|  | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| $483465 | Pool 310208  | 3.00% | 03/01/48 | $413945 |
| 470201 | Pool 310211  | 3.50% | 07/01/48 | 420156 |
| 4019285 | Pool AL8400  | 3.00% | 08/01/43 | 3598952 |
| 5544907 | Pool AL9394  | 3.00% | 11/01/46 | 4841601 |
| 2122496 | Pool AS5843  | 4.00% | 09/01/45 | 1993734 |
| 256627 | Pool BF0207  | 4.50% | 04/01/47 | 253369 |
| 10051382 | Pool BF0568  | 5.50% | 07/01/61 | 10214950 |
| 4552032 | Pool BM6210  | 3.50% | 12/01/47 | 4097544 |
| 9431531 | Pool BM6429  | 3.00% | 09/01/48 | 8125868 |
| 1712858 | Pool BM7345  | 4.50% | 03/01/50 | 1599847 |
| 345785 | Pool BM7521  | 3.50% | 10/01/48 | 313014 |
| 3784601 | Pool BM7687  | 3.00% | 11/01/46 | 3321607 |
| 4809228 | Pool BM7699  | 3.50% | 02/01/47 | 4447719 |
| 5251959 | Pool FA0606  | 3.50% | 09/01/47 | 4877390 |
| 10476047 | Pool FA1265  | 4.50% | 12/01/50 | 10132168 |
| 2141250 | Pool FM9416  | 3.50% | 07/01/45 | 1974269 |
| 8870296 | Pool FM9645  | 4.50% | 11/01/49 | 8586909 |
| 355290 | Pool FM9712  | 3.50% | 11/01/50 | 324525 |
| 2680448 | Pool FP0122  | 4.50% | 07/01/51 | 2578186 |
| 6122009 | Pool FS0704  | 4.00% | 03/01/47 | 5759779 |
| 4546225 | Pool FS1046  | 4.50% | 11/01/49 | 4414056 |
| 4327253 | Pool FS6440  | 4.00% | 10/01/48 | 4067228 |
| 14031114 | Pool FS8862  | 3.50% | 05/01/48 | 12878865 |
| 5728536 | Pool FS9392  | 3.50% | 05/01/49 | 5246768 |
| 1134093 | Pool MA1582  | 3.50% | 09/01/43 | 1048962 |
| 2138943 | Pool MA4025  | 2.50% | 05/01/50 | 1730607 |
| 165000 | Pool TBA (f) | 2.50% | 08/15/55 | 135224 |
| 5666000 | Pool TBA  | 4.50% | 08/15/55 | 5375494 |
| 8578000 | Pool TBA (f) | 5.00% | 08/15/55 | 8350100 |
| 2076000 | Pool TBA (f) | 5.50% | 08/15/55 | 2065333 |
| 2144000 | Pool TBA (f) | 6.00% | 08/15/55 | 2173969 |
| 84000 | Pool TBA (f) | 2.50% | 09/15/55 | 68868 |
| 1487000 | Pool TBA  | 3.00% | 09/15/55 | 1272935 |
| 11505000 | Pool TBA (f) | 3.50% | 09/15/55 | 10264007 |
| 9404000 | Pool TBA (f) | 4.00% | 09/15/55 | 8670581 |
| 2625000 | Pool TBA (f) | 5.00% | 09/15/55 | 2553414 |
| 2046000 | Pool TBA (f) | 5.50% | 09/15/55 | 2033650 |
| 715000 | Pool TBA (f) | 6.00% | 09/15/55 | 724268 |
| 7598000 | Pool TBA (f) | 4.00% | 10/15/55 | 7003947 |
| 914000 | Pool TBA  | 5.00% | 10/15/55 | 888717 |
| 1814000 | Pool TBA  | 5.50% | 10/15/55 | 1801916 |
|  |  |  |  | 213149999 |
|  | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | 465083709 |
|  | (Cost $462,884,229) | (Cost $462,884,229) | (Cost $462,884,229) |  |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES — 20.3%** | **CORPORATE BONDS AND NOTES — 20.3%** | **CORPORATE BONDS AND NOTES — 20.3%** | **CORPORATE BONDS AND NOTES — 20.3%** | **CORPORATE BONDS AND NOTES — 20.3%** |
|  | **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** |  |
| $370000 | Northrop Grumman Corp. | 5.15% | 05/01/40 | $359991 |
| 1000000 | Northrop Grumman Corp. | 5.05% | 11/15/40 | 959028 |
|  |  |  |  | 1319019 |
|  | **Banks — 1.7%** | **Banks — 1.7%** | **Banks — 1.7%** |  |
| 1150000 | Bank of America Corp. (g) | 3.97% | 02/07/30 | 1131542 |
| 3170000 | Bank of America Corp. (g) | 4.57% | 04/27/33 | 3121963 |
| 1010000 | Fifth Third Bancorp (g) | 4.77% | 07/28/30 | 1014377 |
| 1190000 | Goldman Sachs Group (The), Inc. (g) | 4.48% | 08/23/28 | 1190067 |
| 1305000 | Goldman Sachs Group (The), Inc. (g) | 4.69% | 10/23/30 | 1304352 |
| 1000000 | Goldman Sachs Group (The), Inc. (g) | 3.10% | 02/24/33 | 899327 |
| 2940000 | JPMorgan Chase & Co. (g) | 4.91% | 07/25/33 | 2958766 |
| 1855000 | Morgan Stanley (g) | 4.43% | 01/23/30 | 1849703 |
| 2450000 | Morgan Stanley (g) | 6.34% | 10/18/33 | 2655736 |
| 2750000 | Santander Holdings USA, Inc. (g) | 5.47% | 03/20/29 | 2795521 |
| 700000 | Wells Fargo & Co. (g) | 4.81% | 07/25/28 | 703970 |
| 750000 | Wells Fargo & Co. (g) | 5.20% | 01/23/30 | 766110 |
| 1500000 | Wells Fargo & Co. (g) | 4.90% | 07/25/33 | 1499271 |
|  |  |  |  | 21890705 |
|  | **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** |  |
| 655000 | Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, <br> Inc. | 4.90% | 02/01/46 | 599306 |
| 2000000 | Constellation Brands, Inc. | 4.80% | 05/01/30 | 2011634 |
| 2645000 | Constellation Brands, Inc. | 4.75% | 05/09/32 | 2626897 |
| 425000 | Constellation Brands, Inc. | 4.50% | 05/09/47 | 350644 |
| 820000 | Constellation Brands, Inc. | 5.25% | 11/15/48 | 748676 |
| 1145000 | Molson Coors Beverage Co. | 4.20% | 07/15/46 | 908425 |
|  |  |  |  | 7245582 |
|  | **Building Materials — 0.5%** | **Building Materials — 0.5%** | **Building Materials — 0.5%** |  |
| 2000000 | Amrize Finance U.S. LLC (b) | 4.95% | 04/07/30 | 2020773 |
| 2000000 | Amrize Finance U.S. LLC (b) | 5.40% | 04/07/35 | 2019042 |
| 2500000 | JH North America Holdings, Inc. (b) | 6.13% | 07/31/32 | 2527813 |
|  |  |  |  | 6567628 |
|  | **Commercial Services — 1.8%** | **Commercial Services — 1.8%** | **Commercial Services — 1.8%** |  |
| 750000 | Ashtead Capital, Inc. (b) | 4.38% | 08/15/27 | 744569 |
| 3255000 | Ashtead Capital, Inc. (b) | 4.00% | 05/01/28 | 3193915 |
| 2500000 | Ashtead Capital, Inc. (b) | 5.80% | 04/15/34 | 2568407 |
| 1000000 | Quanta Services, Inc. | 2.90% | 10/01/30 | 919761 |
| 3370000 | Quanta Services, Inc. | 5.25% | 08/09/34 | 3407391 |
| 2500000 | TR Finance LLC | 5.50% | 08/15/35 | 2533157 |
| 2470000 | TR Finance LLC | 5.85% | 04/15/40 | 2512278 |
| 4765000 | United Rentals North America, Inc. (b) | 6.00% | 12/15/29 | 4854063 |
| 2000000 | Verisk Analytics, Inc. | 5.25% | 03/15/35 | 2001652 |
| 510000 | Verisk Analytics, Inc. | 5.50% | 06/15/45 | 489227 |
|  |  |  |  | 23224420 |
|  | **Computers — 0.9%** | **Computers — 0.9%** | **Computers — 0.9%** |  |
| 4550000 | Crowdstrike Holdings, Inc. | 3.00% | 02/15/29 | 4262659 |
| 2500000 | Dell International LLC / EMC Corp. | 5.30% | 04/01/32 | 2551820 |
| 1635000 | Gartner, Inc. (b) | 4.50% | 07/01/28 | 1609668 |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Computers (Continued)** | **Computers (Continued)** | **Computers (Continued)** |  |
| $1065000 | Gartner, Inc. (b) | 3.63% | 06/15/29 | $1010890 |
| 1985000 | Gartner, Inc. (b) | 3.75% | 10/01/30 | 1859442 |
|  |  |  |  | 11294479 |
|  | **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** |  |
| 3000000 | American Builders & Contractors Supply Co., Inc. (b) | 4.00% | 01/15/28 | 2922618 |
|  | **Diversified Financial Services — 1.0%** | **Diversified Financial Services — 1.0%** | **Diversified Financial Services — 1.0%** |  |
| 365000 | American Express Co. (g) | 6.49% | 10/30/31 | 396182 |
| 3000000 | American Express Co. (g) | 5.67% | 04/25/36 | 3113841 |
| 2000000 | Charles Schwab (The) Corp. (g) | 5.85% | 05/19/34 | 2120663 |
| 4000000 | Citadel Securities Global Holdings LLC (b) | 5.50% | 06/18/30 | 4036966 |
| 2000000 | LPL Holdings, Inc. | 5.15% | 06/15/30 | 2023840 |
| 1315000 | Nasdaq, Inc. | 5.95% | 08/15/53 | 1337456 |
|  |  |  |  | 13028948 |
|  | **Electric — 1.2%** | **Electric — 1.2%** | **Electric — 1.2%** |  |
| 500000 | DTE Electric Co. | 5.85% | 05/15/55 | 523112 |
| 2340000 | Duke Energy Carolinas LLC | 5.30% | 02/15/40 | 2331594 |
| 1000000 | Duke Energy Progress LLC | 5.55% | 03/15/55 | 979130 |
| 3155000 | Florida Power & Light Co. | 5.30% | 04/01/53 | 3020701 |
| 3000000 | Northern States Power Co. | 5.65% | 05/15/55 | 3006966 |
| 1400000 | Trans-Allegheny Interstate Line Co. (b) | 5.00% | 01/15/31 | 1419296 |
| 1980000 | Vistra Operations Co. LLC (b) | 5.05% | 12/30/26 | 1984895 |
| 2500000 | Vistra Operations Co. LLC (b) | 5.70% | 12/30/34 | 2547290 |
|  |  |  |  | 15812984 |
|  | **Electrical Components & Equipments — 0.4%** | **Electrical Components & Equipments — 0.4%** | **Electrical Components & Equipments — 0.4%** |  |
| 4500000 | Molex Electronic Technologies LLC (b) | 5.25% | 04/30/32 | 4516139 |
|  | **Environmental Control — 0.4%** | **Environmental Control — 0.4%** | **Environmental Control — 0.4%** |  |
| 3095000 | Veralto Corp. | 5.45% | 09/18/33 | 3179382 |
| 535000 | Waste Management, Inc. | 4.15% | 07/15/49 | 435408 |
| 1000000 | Waste Management, Inc. | 5.35% | 10/15/54 | 967755 |
|  |  |  |  | 4582545 |
|  | **Food — 1.7%** | **Food — 1.7%** | **Food — 1.7%** |  |
| 1470000 | Campbell's (The) Co. | 5.40% | 03/21/34 | 1485375 |
| 4143000 | Conagra Brands, Inc | 5.75% | 08/01/35 | 4154867 |
| 970000 | Conagra Brands, Inc. | 5.30% | 11/01/38 | 913688 |
| 6305000 | J.M. Smucker (The) Co. | 6.20% | 11/15/33 | 6744932 |
| 1000000 | Kraft Heinz Foods Co. | 5.20% | 03/15/32 | 1007553 |
| 3335000 | Kraft Heinz Foods Co. | 5.00% | 06/04/42 | 2969644 |
| 1000000 | Mars, Inc. (b) | 5.20% | 03/01/35 | 1005347 |
| 3500000 | Mars, Inc. (b) | 5.70% | 05/01/55 | 3456737 |
|  |  |  |  | 21738143 |
|  | **Food Service — 0.4%** | **Food Service — 0.4%** | **Food Service — 0.4%** |  |
| 5375000 | Sodexo, Inc. (b) | 5.80% | 08/15/35 | 5502183 |
|  | **Healthcare-Products — 0.9%** | **Healthcare-Products — 0.9%** | **Healthcare-Products — 0.9%** |  |
| 910000 | Alcon Finance Corp. (b) | 5.38% | 12/06/32 | 934939 |
| 2265000 | Alcon Finance Corp. (b) | 5.75% | 12/06/52 | 2262605 |
| 4555000 | Solventum Corp. | 5.60% | 03/23/34 | 4673834 |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Healthcare-Products (Continued)** | **Healthcare-Products (Continued)** | **Healthcare-Products (Continued)** |  |
| $3040000 | Solventum Corp. | 5.90% | 04/30/54 | $3016495 |
| 670000 | Zimmer Biomet Holdings, Inc. | 5.20% | 09/15/34 | 672818 |
|  |  |  |  | 11560691 |
|  | **Healthcare-Services — 2.3%** | **Healthcare-Services — 2.3%** | **Healthcare-Services — 2.3%** |  |
| 4350000 | Centene Corp. | 4.25% | 12/15/27 | 4220855 |
| 2250000 | Centene Corp. | 3.00% | 10/15/30 | 1961135 |
| 975000 | Charles River Laboratories International, Inc. (b) | 3.75% | 03/15/29 | 919218 |
| 2340000 | Cigna Group (The) | 5.40% | 03/15/33 | 2406326 |
| 1500000 | Cigna Group (The) | 4.80% | 08/15/38 | 1392749 |
| 1750000 | Cigna Group (The) | 4.80% | 07/15/46 | 1512995 |
| 1475000 | Elevance Health, Inc. | 4.65% | 01/15/43 | 1281018 |
| 525000 | Elevance Health, Inc. | 5.13% | 02/15/53 | 463386 |
| 100000 | Elevance Health, Inc. | 5.70% | 02/15/55 | 95550 |
| 765000 | HCA, Inc. | 5.38% | 09/01/26 | 768292 |
| 3035000 | HCA, Inc. | 4.13% | 06/15/29 | 2976180 |
| 305000 | HCA, Inc. | 5.13% | 06/15/39 | 286149 |
| 1085000 | HCA, Inc. | 4.63% | 03/15/52 | 867777 |
| 65000 | IQVIA, Inc. (b) | 5.70% | 05/15/28 | 66578 |
| 3000000 | IQVIA, Inc. | 5.70% | 05/15/28 | 3072810 |
| 510000 | Quest Diagnostics, Inc. | 6.40% | 11/30/33 | 558080 |
| 365000 | UnitedHealth Group, Inc. | 5.88% | 02/15/53 | 360421 |
| 3000000 | UnitedHealth Group, Inc. | 5.95% | 06/15/55 | 3002561 |
| 2710000 | Universal Health Services, Inc. | 2.65% | 10/15/30 | 2398493 |
|  |  |  |  | 28610573 |
|  | **Insurance — 1.7%** | **Insurance — 1.7%** | **Insurance — 1.7%** |  |
| 395000 | Arthur J. Gallagher & Co. | 6.50% | 02/15/34 | 431171 |
| 1330000 | Arthur J. Gallagher & Co. | 5.15% | 02/15/35 | 1322999 |
| 380000 | Arthur J. Gallagher & Co. | 6.75% | 02/15/54 | 415427 |
| 40000 | Arthur J. Gallagher & Co. | 5.75% | 07/15/54 | 38739 |
| 3805000 | Arthur J. Gallagher & Co. | 5.55% | 02/15/55 | 3593064 |
| 2615000 | Brown & Brown, Inc. | 4.20% | 03/17/32 | 2485718 |
| 3245000 | Brown & Brown, Inc. | 5.65% | 06/11/34 | 3305431 |
| 1000000 | Brown & Brown, Inc. | 4.95% | 03/17/52 | 856464 |
| 1000000 | Brown & Brown, Inc. | 6.25% | 06/23/55 | 1025668 |
| 785000 | Marsh & McLennan Cos., Inc. | 5.35% | 11/15/44 | 760920 |
| 7553000 | Ryan Specialty LLC (b) | 5.88% | 08/01/32 | 7580523 |
|  |  |  |  | 21816124 |
|  | **Lodging — 0.3%** | **Lodging — 0.3%** | **Lodging — 0.3%** |  |
| 3250000 | Hyatt Hotels Corp. | 5.75% | 03/30/32 | 3334569 |
| 600000 | Marriott International, Inc. | 5.10% | 04/15/32 | 607392 |
|  |  |  |  | 3941961 |
|  | **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |  |
| 1850000 | FactSet Research Systems, Inc. | 3.45% | 03/01/32 | 1687352 |
|  | **Packaging & Containers — 0.7%** | **Packaging & Containers — 0.7%** | **Packaging & Containers — 0.7%** |  |
| 2000000 | Amcor Flexibles North America, Inc. (b) | 5.10% | 03/17/30 | 2029618 |
| 3000000 | Amcor Flexibles North America, Inc. (b) | 5.50% | 03/17/35 | 3054556 |
| 45000 | Berry Global, Inc. (b) | 5.50% | 04/15/28 | 46056 |
| 820000 | Berry Global, Inc. | 5.50% | 04/15/28 | 839249 |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Packaging & Containers (Continued)** | **Packaging & Containers (Continued)** | **Packaging & Containers (Continued)** |  |
| $300000 | Berry Global, Inc. | 5.65% | 01/15/34 | $310247 |
| 2575000 | Packaging Corp. of America | 5.70% | 12/01/33 | 2680449 |
|  |  |  |  | 8960175 |
|  | **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** |  |
| 395000 | AbbVie, Inc. | 4.40% | 11/06/42 | 346068 |
| 1000000 | AbbVie, Inc. | 5.60% | 03/15/55 | 993778 |
| 2525000 | Becton Dickinson & Co. | 4.69% | 12/15/44 | 2198855 |
|  |  |  |  | 3538701 |
|  | **Pipelines — 0.3%** | **Pipelines — 0.3%** | **Pipelines — 0.3%** |  |
| 3000000 | Cheniere Energy Partners, L.P. | 4.50% | 10/01/29 | 2969069 |
| 205000 | Sabine Pass Liquefaction LLC | 5.88% | 06/30/26 | 206000 |
|  |  |  |  | 3175069 |
|  | **Private Equity — 0.1%** | **Private Equity — 0.1%** | **Private Equity — 0.1%** |  |
| 1500000 | Blackstone Reg Finance Co. LLC | 5.00% | 12/06/34 | 1483915 |
|  | **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |  |
| 2000000 | CoStar Group, Inc. (b) | 2.80% | 07/15/30 | 1805011 |
|  | **Real Estate Investment Trusts — 0.2%** | **Real Estate Investment Trusts — 0.2%** | **Real Estate Investment Trusts — 0.2%** |  |
| 175000 | Crown Castle, Inc. | 4.45% | 02/15/26 | 174788 |
| 865000 | Crown Castle, Inc. | 2.90% | 04/01/41 | 618948 |
| 278000 | VICI Properties, L.P. | 4.75% | 04/01/28 | 279699 |
| 1295000 | VICI Properties, L.P. | 4.95% | 02/15/30 | 1301554 |
|  |  |  |  | 2374989 |
|  | **Software — 2.0%** | **Software — 2.0%** | **Software — 2.0%** |  |
| 3855000 | AppLovin Corp. | 5.38% | 12/01/31 | 3929739 |
| 850000 | Atlassian Corp. | 5.50% | 05/15/34 | 863480 |
| 30000 | Fidelity National Information Services, Inc. | 5.10% | 07/15/32 | 30495 |
| 905000 | Fidelity National Information Services, Inc. | 3.10% | 03/01/41 | 662422 |
| 550000 | MSCI, Inc. (b) | 4.00% | 11/15/29 | 531627 |
| 8065000 | MSCI, Inc. (b) | 3.88% | 02/15/31 | 7575912 |
| 400000 | Oracle Corp. | 6.25% | 11/09/32 | 430706 |
| 1000000 | Oracle Corp. | 5.50% | 08/03/35 | 1014441 |
| 1105000 | Oracle Corp. | 6.13% | 07/08/39 | 1150683 |
| 1630000 | Oracle Corp. | 5.38% | 09/27/54 | 1469449 |
| 2500000 | Oracle Corp. | 6.00% | 08/03/55 | 2450789 |
| 1250000 | Roper Technologies, Inc. | 4.90% | 10/15/34 | 1227998 |
| 400000 | Synopsys, Inc. | 4.85% | 04/01/30 | 404660 |
| 1500000 | Synopsys, Inc. | 5.15% | 04/01/35 | 1506043 |
| 750000 | Synopsys, Inc. | 5.70% | 04/01/55 | 740149 |
| 965000 | VMware LLC | 4.70% | 05/15/30 | 965875 |
|  |  |  |  | 24954468 |
|  | **Telecommunications — 0.4%** | **Telecommunications — 0.4%** | **Telecommunications — 0.4%** |  |
| 405000 | AT&T, Inc. | 4.75% | 05/15/46 | 352643 |
| 355000 | AT&T, Inc. | 3.65% | 09/15/59 | 236300 |
| 405000 | T-Mobile USA, Inc. | 3.50% | 04/15/31 | 380044 |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Telecommunications (Continued)** | **Telecommunications (Continued)** | **Telecommunications (Continued)** |  |
| $3000000 | T-Mobile USA, Inc. | 5.13% | 05/15/32 | $3044782 |
| 595000 | T-Mobile USA, Inc. | 5.65% | 01/15/53 | 573333 |
|  |  |  |  | 4587102 |
|  | **Total Corporate Bonds and Notes** | **Total Corporate Bonds and Notes** | **Total Corporate Bonds and Notes** | 258141524 |
|  | (Cost $255,677,493) | (Cost $255,677,493) | (Cost $255,677,493) |  |
| **MORTGAGE-BACKED SECURITIES — 17.5%** | **MORTGAGE-BACKED SECURITIES — 17.5%** | **MORTGAGE-BACKED SECURITIES — 17.5%** | **MORTGAGE-BACKED SECURITIES — 17.5%** | **MORTGAGE-BACKED SECURITIES — 17.5%** |
|  | **Collateralized Mortgage Obligations — 10.6%** | **Collateralized Mortgage Obligations — 10.6%** | **Collateralized Mortgage Obligations — 10.6%** |  |
|  | Arroyo Mortgage Trust | Arroyo Mortgage Trust | Arroyo Mortgage Trust | Arroyo Mortgage Trust |
| 154477 | Series 2020-1, Class A1A (b) | 1.66% | 03/25/55 | 147186 |
|  | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust |
| 500000 | Series 2019-1, Class A3 (b) | 3.50% | 03/25/58 | 421116 |
| 174682 | Series 2019-2, Class A3 (b) | 3.50% | 10/25/44 | 166804 |
| 1126641 | Series 2022-NQM1, Class A1 (b) | 3.63% | 09/25/61 | 1095015 |
| 1425223 | Series 2025-NQM3, Class A1 (b) | 5.57% | 03/25/65 | 1428031 |
|  | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust |
| 595777 | Series 2019-ATR2, Class B1 (b) (e) | 3.99% | 07/25/49 | 550701 |
| 380265 | Series 2019-ATR2, Class B2 (b) (e) | 3.99% | 07/25/49 | 350550 |
|  | CIM Trust | CIM Trust | CIM Trust | CIM Trust |
| 3462194 | Series 2019-INV3, Class B1A (b) | 4.66% | 08/25/49 | 3266237 |
|  | Citigroup Mortgage Loan Trust | Citigroup Mortgage Loan Trust | Citigroup Mortgage Loan Trust | Citigroup Mortgage Loan Trust |
| 492148 | Series 2014-A, Class B3 (b) (e) | 5.49% | 01/25/35 | 487086 |
|  | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust |
| 691152 | Series 2021-6, Class A1 (b) | 1.91% | 12/25/66 | 624347 |
| 1926639 | Series 2025-4, Class A1, steps up to 6.79% on 05/01/2029 (b) (h) | 5.79% | 04/25/70 | 1939610 |
|  | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust |
| 2360202 | Series 2024-R05, Class 2A1, 30 Day Average SOFR + <br> 1.00% (a) (b) | 5.35% | 07/25/44 | 2364405 |
| 2311471 | Series 2025-R01, Class 1A1, 30 Day Average SOFR + <br> 0.95% (a) (b) | 5.30% | 01/25/45 | 2311374 |
| 2178889 | Series 2025-R02, Class 1A1, 30 Day Average SOFR + <br> 1.00% (a) (b) | 5.35% | 02/25/45 | 2180115 |
|  | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust |
| 298029 | Series 2018-RPL9, Class A (b) | 3.85% | 09/25/57 | 287821 |
| 207081 | Series 2019-AFC1, Class A1 (b) | 3.57% | 07/25/49 | 199343 |
| 398921 | Series 2021-RPL6, Class A1 (b) | 2.00% | 10/25/60 | 359030 |
|  | Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust |
| 1919744 | Series 2025-H3, Class A1 (b) | 5.88% | 04/25/70 | 1934179 |
|  | CSMC Trust | CSMC Trust | CSMC Trust | CSMC Trust |
| 2667107 | Series 2018-J1, Class A2 (b) | 3.50% | 02/25/48 | 2378005 |
|  | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust |
| 289000 | Series 2019-2, Class M1 (b) | 3.47% | 11/25/59 | 270983 |
| 1864110 | Series 2024-INV2, Class A1, steps up to 6.04% <br> on 09/01/2028 (b) (h) | 5.04% | 10/25/69 | 1848513 |
|  | FARM Mortgage Trust | FARM Mortgage Trust | FARM Mortgage Trust | FARM Mortgage Trust |
| 2788864 | Series 2024-1, Class A (b) (e) | 4.69% | 10/01/53 | 2662891 |
| 327067 | Series 2024-2, Class A (b) (e) | 5.20% | 08/01/54 | 321660 |
|  | Flagstar Mortgage Trust | Flagstar Mortgage Trust | Flagstar Mortgage Trust | Flagstar Mortgage Trust |
| 2124942 | Series 2018-2, Class B1 (b) (e) | 4.00% | 04/25/48 | 1952485 |
|  | GCAT Trust | GCAT Trust | GCAT Trust | GCAT Trust |
| 505210 | Series 2019-RPL1, Class A1 (b) | 2.65% | 10/25/68 | 489438 |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** |  |
|  | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust |
| $190338 | Series 2020-NQM1, Class A3 (b) | 2.35% | 09/27/60 | $179894 |
| 9000000 | Series 2022-LTV1, Class A14 (b) | 3.00% | 06/25/52 | 6317025 |
|  | HOMES Trust | HOMES Trust | HOMES Trust | HOMES Trust |
| 7192961 | Series 2024-AFC1, Class A1, steps up to 6.22% <br> on 09/01/2028 (b) (h) | 5.22% | 08/25/59 | 7162488 |
| 2952378 | Series 2024-AFC2, Class A1 (b) | 5.58% | 10/25/59 | 2944484 |
| 2205417 | Series 2025-AFC2, Class A1A, steps up to 6.47% <br> on 06/01/2029 (b) (h) | 5.47% | 06/25/60 | 2203213 |
|  | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
| 707035 | Series 2017-6, Class A7 (b) | 3.50% | 12/25/48 | 638598 |
| 1127256 | Series 2019-6, Class B1 (b) (e) | 4.27% | 12/25/49 | 1051592 |
| 229981 | Series 2019-INV1, Class A11, 1 Mo. CME Term SOFR + CSA + <br> 0.95% (a) (b) | 5.42% | 09/25/49 | 220806 |
| 1639556 | Series 2019-INV1, Class B1 (b) (e) | 4.93% | 09/25/49 | 1589352 |
| 928935 | Series 2019-INV3, Class A13 (b) | 3.50% | 05/25/50 | 833087 |
| 547318 | Series 2019-INV3, Class A3 (b) | 3.50% | 05/25/50 | 490846 |
| 487265 | Series 2020-LTV2, Class B1 (b) (e) | 4.00% | 11/25/50 | 439968 |
| 5150000 | Series 2025-3, Class A1C, steps up to 6.64% <br> on 04/01/2029 (b) (h) | 5.64% | 09/25/55 | 5146561 |
| 5000000 | Series 2025-5MPR, Class A1C, steps up to 6.82% <br> on 05/01/2029 (b) (h) | 5.82% | 11/25/55 | 5020734 |
|  | MetLife Securitization Trust | MetLife Securitization Trust | MetLife Securitization Trust | MetLife Securitization Trust |
| 342156 | Series 2018-1A, Class A (b) | 3.75% | 03/25/57 | 331776 |
|  | MFRA Trust | MFRA Trust | MFRA Trust | MFRA Trust |
| 1705889 | Series 2023-INV2, Class A1, steps up to 7.78% <br> on 09/01/2027 (b) (h) | 6.78% | 10/25/58 | 1721226 |
| 5205015 | Series 2024-NQM3, Class A1, steps up to 6.72% <br> on 12/01/2028 (b) (h) | 5.72% | 12/25/69 | 5223387 |
| 1874017 | Series 2025-NQM1, Class A1, steps up to 6.44% <br> on 02/01/2029 (b) (h) | 5.44% | 03/25/70 | 1870096 |
|  | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust |
| 2057090 | Series 2016-3A, Class B1 (b) | 4.00% | 09/25/56 | 1998255 |
| 6574454 | Series 2018-3A, Class A1 (b) | 4.50% | 05/25/58 | 6388409 |
| 265024 | Series 2018-4A, Class A1S, 1 Mo. CME Term SOFR + CSA + <br> 0.75% (a) (b) | 5.22% | 01/25/48 | 260014 |
|  | OBX Trust | OBX Trust | OBX Trust | OBX Trust |
| 2000000 | Series 2025-NQM13, Class A1, steps up to 6.44% <br> on 07/01/2029 (b) (h) | 5.44% | 05/25/65 | 2000920 |
|  | Onslow Bay Mortgage Loan Trust | Onslow Bay Mortgage Loan Trust | Onslow Bay Mortgage Loan Trust | Onslow Bay Mortgage Loan Trust |
| 284417 | Series 2021-NQM4, Class A1 (b) | 1.96% | 10/25/61 | 240013 |
| 2343708 | Series 2025-NQM6, Class A1, steps up to 6.60% <br> on 03/01/2029 (b) (h) | 5.60% | 03/25/65 | 2348359 |
|  | PRKCM Trust | PRKCM Trust | PRKCM Trust | PRKCM Trust |
| 2546769 | Series 2022-AFC2, Class A1 (b) | 5.34% | 08/25/57 | 2536371 |
| 2275360 | Series 2025-HOME1, Class A1A, steps up to 6.55% <br> on 03/01/2029 (b) (h) | 5.55% | 02/25/60 | 2276009 |
| 966183 | Series 2025-HOME1, Class A1B, steps up to 6.65% <br> on 03/01/2029 (b) (h) | 5.65% | 02/25/60 | 968333 |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** |  |
|  | PRPM LLC | PRPM LLC | PRPM LLC | PRPM LLC |
| $781303 | Series 2024-RPL2, Class A1, steps up to 4.50% <br> on 05/25/2028 (b) (h) | 3.50% | 05/25/54 | $754752 |
| 243705 | Series 2024-RPL3, Class A1, steps up to 5.00% <br> on 11/25/2028 (b) (h) | 4.00% | 11/25/54 | 236387 |
| 563178 | Series 2024-RPL4, Class A1, steps up to 5.00% <br> on 12/25/2028 (b) (h) | 4.00% | 12/25/54 | 546813 |
| 2935744 | Series 2025-NQM2, Class A1, steps up to 6.69% <br> on 05/01/2029 (b) (h) | 5.69% | 04/25/70 | 2945277 |
| 959618 | Series 2025-RPL3, Class A1, steps up to 4.25% <br> on 04/01/2028 (b) (h) | 3.25% | 04/25/55 | 918694 |
| 2154526 | Series 2025-RPL4, Class A1, steps up to 4.00% <br> on 05/01/2029 (b) (h) | 3.00% | 05/25/55 | 2011674 |
|  | PRPM Trust | PRPM Trust | PRPM Trust | PRPM Trust |
| 737908 | Series 2023-NQM3, Class A1, steps up to 7.22% <br> on 01/01/2028 (b) (h) | 6.22% | 11/25/68 | 741030 |
| 2500000 | Series 2025-NQM3, Class A1, steps up to 6.61% <br> on 07/01/2029 (b) (h) | 5.61% | 05/25/70 | 2504640 |
|  | RUN Trust | RUN Trust | RUN Trust | RUN Trust |
| 3779036 | Series 2022-NQM1, Class A1 (b) | 4.00% | 03/25/67 | 3686793 |
|  | Santander Mortgage Asset Receivable Trust | Santander Mortgage Asset Receivable Trust | Santander Mortgage Asset Receivable Trust | Santander Mortgage Asset Receivable Trust |
| 3363400 | Series 2025-NQM2, Class A1 (b) | 5.73% | 02/25/65 | 3374495 |
|  | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust |
| 1133404 | Series 2022-3, Class A1 (b) | 4.16% | 03/25/67 | 1108504 |
|  | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
| 1966707 | Series 2019-HY2, Class A1, 1 Mo. CME Term SOFR + CSA + <br> 1.00% (a) (b) | 5.47% | 05/25/58 | 2013274 |
| 1840041 | Series 2022-1, Class A1 (b) | 3.75% | 07/25/62 | 1740709 |
| 824488 | Series 2022-2, Class A1 (b) | 3.75% | 07/01/62 | 778042 |
| 2769703 | Series 2022-3, Class A1 (b) | 3.75% | 08/01/62 | 2622367 |
| 463355 | Series 2022-4, Class A1 (b) | 3.75% | 09/25/62 | 441662 |
|  | TRK Trust | TRK Trust | TRK Trust | TRK Trust |
| 3313408 | Series 2021-INV1, Class A1 (b) | 1.15% | 07/25/56 | 2984199 |
| 2467919 | Series 2022-INV1, Class A1 (b) | 2.58% | 02/25/57 | 2294236 |
|  | Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust |
| 2406174 | Series 2022-1, Class A1, steps up to 3.72% on 01/01/2026 (b) (h) | 2.72% | 01/25/67 | 2239830 |
| 2519603 | Series 2022-2, Class A1 (b) (h) | 4.26% | 02/25/67 | 2383265 |
| 2013240 | Series 2022-INV1, Class A1, steps up to 6.04% <br> on 08/01/2026 (b) (h) | 5.04% | 08/25/67 | 2002491 |
| 1345748 | Series 2025-3, Class A1, steps up to 6.62% on 04/01/2029 (b) (h) | 5.62% | 05/25/70 | 1352291 |
|  | Vista Point Securitization Trust | Vista Point Securitization Trust | Vista Point Securitization Trust | Vista Point Securitization Trust |
| 270000 | Series 2020-1, Class M1 (b) | 4.15% | 03/25/65 | 265353 |
|  | Wells Fargo Mortgage Backed Securities Trust | Wells Fargo Mortgage Backed Securities Trust | Wells Fargo Mortgage Backed Securities Trust | Wells Fargo Mortgage Backed Securities Trust |
| 2299955 | Series 2018-1, Class B1 (b) (e) | 3.65% | 07/25/47 | 2130846 |
| 124341 | Series 2019-1, Class A1 (b) | 3.92% | 11/25/48 | 118387 |
|  |  |  |  | 134634752 |
|  | **Commercial Mortgage-Backed Securities — 6.9%** | **Commercial Mortgage-Backed Securities — 6.9%** | **Commercial Mortgage-Backed Securities — 6.9%** |  |
|  | 2023-MIC Trust (The) | 2023-MIC Trust (The) | 2023-MIC Trust (The) | 2023-MIC Trust (The) |
| 2060000 | Series 2023-MIC, Class A (b) (e) | 8.44% | 12/05/38 | 2231602 |
|  | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust |
| 9000000 | Series 2020-MF1, Class A4 (b) | 2.50% | 05/15/53 | 8253142 |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | Arbor Multifamily Mortgage Securities Trust (Continued) | Arbor Multifamily Mortgage Securities Trust (Continued) | Arbor Multifamily Mortgage Securities Trust (Continued) | Arbor Multifamily Mortgage Securities Trust (Continued) |
| $772250 | Series 2020-MF1, Class A5 (b) | 2.76% | 05/15/53 | $710594 |
| 125000 | Series 2020-MF1, Class AS (b) | 3.06% | 05/15/53 | 114928 |
| 3167369 | Series 2020-MF1, Class XA, IO (b) (e) | 0.93% | 05/15/53 | 111102 |
|  | BANK | BANK | BANK | BANK |
| 28999484 | Series 2019-BN19, Class XA, IO (e) | 0.93% | 08/15/61 | 900820 |
| 325000 | Series 2020-BN26, Class A3 | 2.16% | 03/15/63 | 291537 |
| 4808681 | Series 2020-BN26, Class XA, IO (e) | 1.19% | 03/15/63 | 196719 |
| 1477000 | Series 2020-BN29, Class A4 | 2.00% | 11/15/53 | 1265644 |
| 6912957 | Series 2020-BN29, Class XA, IO (e) | 1.30% | 11/15/53 | 377334 |
| 53522539 | Series 2025-BNK49, Class XA, IO (e) | 0.63% | 03/15/58 | 2555937 |
|  | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
| 3145000 | Series 2018-TALL, Class A, 1 Mo. CME Term SOFR + CSA + <br> 0.87% (a) (b) | 5.26% | 03/15/37 | 2993543 |
| 2800000 | Series 2020-C8, Class A5 | 2.04% | 10/15/53 | 2450495 |
| 1392000 | Series 2023-C20, Class A5 | 5.58% | 07/15/56 | 1439936 |
| 51900000 | Series 2025-C35, Class XA, IO (e) | 0.86% | 07/15/58 | 2696511 |
|  | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
| 6137837 | Series 2020-B21, Class XA, IO (e) | 1.41% | 12/17/53 | 345097 |
| 2700000 | Series 2021-B25, Class A4 | 2.27% | 04/15/54 | 2403471 |
|  | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
| 5824000 | Series 2024-5C3, Class XA, IO (e) | 1.12% | 02/15/57 | 192641 |
| 750000 | Series 2024-C9, Class A5 | 5.76% | 07/15/57 | 785488 |
| 3091000 | Series 2025-C12, Class ASB | 5.76% | 06/15/58 | 3237655 |
|  | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust |
| 1700000 | Series 2025-1C, Class A (b) (e) | 5.37% | 06/15/44 | 1725568 |
|  | BWAY Trust | BWAY Trust | BWAY Trust | BWAY Trust |
| 2150000 | Series 2025-1535, Class A (b) (e) | 6.31% | 05/05/42 | 2194875 |
| 765000 | Series 2025-1535, Class B (b) (e) | 7.46% | 05/05/42 | 793259 |
|  | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust |
| 3081000 | Series 2020-VIV4, Class A (b) | 2.84% | 03/09/44 | 2813783 |
|  | BX Trust | BX Trust | BX Trust | BX Trust |
| 1480000 | Series 2021-ARIA, Class A, 1 Mo. CME Term SOFR + CSA + <br> 0.90% (a) (b) | 5.36% | 10/15/36 | 1479986 |
| 2000000 | Series 2025-GW, Class A, 1 Mo. CME Term SOFR + <br> 1.60% (a) (b) | 5.94% | 07/15/42 | 2009561 |
|  | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending |
| 559013 | Series 2019-CF1, Class A2 | 3.62% | 05/15/52 | 538621 |
| 573582 | Series 2019-CF3, Class ASB | 2.94% | 01/15/53 | 552854 |
|  | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust |
| 191693 | Series 2017-C8, Class ASB | 3.37% | 06/15/50 | 189970 |
|  | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust |
| 2230000 | Series 2025-SFT, Class A (b) (e) | 5.48% | 04/15/42 | 2262427 |
| 62200000 | Series 2025-SFT, Class XA, IO (b) (e) | 0.30% | 04/15/42 | 625191 |
|  | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust |
| 585049 | Series 2018-C5, Class A3 | 3.96% | 06/10/51 | 575506 |
| 682857 | Series 2019-GC43, Class AAB | 2.96% | 11/10/52 | 659688 |
|  | COMM Mortgage Trust | COMM Mortgage Trust | COMM Mortgage Trust | COMM Mortgage Trust |
| 192321 | Series 2016-DC2, Class A4 | 3.50% | 02/10/49 | 191868 |
| 7850000 | Series 2024-277P, Class X, IO (b) (e) | 0.66% | 08/10/44 | 207636 |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust |
| $1300000 | Series 2019-UVIL, Class A (b) | 3.16% | 12/15/41 | $1199672 |
|  | Fashion Show Mall LLC | Fashion Show Mall LLC | Fashion Show Mall LLC | Fashion Show Mall LLC |
| 2225000 | Series 2024-SHOW, Class A (b) (e) | 5.10% | 10/10/41 | 2234762 |
|  | FREMF Mortgage Trust | FREMF Mortgage Trust | FREMF Mortgage Trust | FREMF Mortgage Trust |
| 322026940 | Series 2018-K156, Class X2A, IO (b) | 0.10% | 07/25/36 | 1627492 |
|  | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust |
| 377297 | Series 2017-GS5, Class AAB | 3.47% | 03/10/50 | 373709 |
| 1794737 | Series 2019-GC39, Class XA, IO (e) | 1.09% | 05/10/52 | 62784 |
| 975000 | Series 2024-FAIR, Class A (b) (e) | 5.88% | 07/15/29 | 1001182 |
|  | Hilton USA Trust | Hilton USA Trust | Hilton USA Trust | Hilton USA Trust |
| 845000 | Series 2016-HHV, Class A (b) | 3.72% | 11/05/38 | 830264 |
| 1700000 | Series 2025-NVIL, Class A, 1 Mo. CME Term SOFR + <br> 1.74% (a) (b) | 6.08% | 07/15/42 | 1708316 |
|  | Houston Galleria Mall Trust | Houston Galleria Mall Trust | Houston Galleria Mall Trust | Houston Galleria Mall Trust |
| 2750000 | Series 2025-HGLR, Class A (b) (e) | 5.46% | 02/05/45 | 2795799 |
|  | JW Trust | JW Trust | JW Trust | JW Trust |
| 1240000 | Series 2024-BERY, Class A, 1 Mo. CME Term SOFR + <br> 1.59% (a) (b) | 5.93% | 11/15/39 | 1243394 |
|  | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust |
| 5625504 | Series 2019-L2, Class XA, IO (e) | 0.99% | 03/15/52 | 165184 |
|  | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust |
| 40348052 | Series 2023-1, Class XA, IO (e) | 0.86% | 05/15/56 | 2081536 |
| 1000000 | Series 2023-2, Class A5 | 6.01% | 12/15/56 | 1066859 |
|  | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust |
| 1520000 | Series 2025-299P, Class A (b) (e) | 5.66% | 02/10/47 | 1568320 |
|  | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust |
| 3100000 | Series 2021-1290, Class A, 1 Mo. CME Term SOFR + CSA + <br> 1.10% (a) (b) | 5.55% | 11/15/38 | 3098648 |
|  | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust |
| 3288100 | Series 2021-555, Class A, 1 Mo. CME Term SOFR + CSA + <br> 1.15% (a) (b) | 5.61% | 05/15/38 | 3275576 |
|  | SKY Trust | SKY Trust | SKY Trust | SKY Trust |
| 2727966 | Series 2025-LINE, Class A, 1 Mo. CME Term SOFR + <br> 2.59% (a) (b) | 6.93% | 04/15/42 | 2741268 |
|  | UBS Commercial Mortgage Trust | UBS Commercial Mortgage Trust | UBS Commercial Mortgage Trust | UBS Commercial Mortgage Trust |
| 22402217 | Series 2019-C17, Class XA, IO (e) | 1.44% | 10/15/52 | 1063319 |
|  | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
| 12720181 | Series 2017-C41, Class XA, IO (e) | 1.15% | 11/15/50 | 256178 |
| 2737274 | Series 2018-C47, Class AS | 4.67% | 09/15/61 | 2696510 |
| 27489002 | Series 2019-C49, Class XA, IO (e) | 1.24% | 03/15/52 | 905886 |
| 317843 | Series 2020-C58, Class A3 | 1.81% | 07/15/53 | 281476 |
| 905000 | Series 2021-C61, Class ASB | 2.53% | 11/15/54 | 838546 |
| 2950000 | Series 2022-C62, Class A4 | 4.00% | 04/15/55 | 2775894 |
|  | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust |
| 2175000 | Series 2025-DC, Class A (b) (e) | 5.35% | 07/15/40 | 2212200 |
|  |  |  |  | 88479763 |
|  | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | 223114515 |
|  | (Cost $221,836,332) | (Cost $221,836,332) | (Cost $221,836,332) |  |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT BONDS AND NOTES — 15.7%** | **U.S. GOVERNMENT BONDS AND NOTES — 15.7%** | **U.S. GOVERNMENT BONDS AND NOTES — 15.7%** | **U.S. GOVERNMENT BONDS AND NOTES — 15.7%** | **U.S. GOVERNMENT BONDS AND NOTES — 15.7%** |
| $300000 | U.S. Treasury Bond  | 4.50% | 08/15/39 | $296004 |
| 300000 | U.S. Treasury Bond  | 2.25% | 05/15/41 | 216170 |
| 1136000 | U.S. Treasury Bond  | 3.25% | 05/15/42 | 930189 |
| 300000 | U.S. Treasury Bond  | 4.00% | 11/15/42 | 270891 |
| 300000 | U.S. Treasury Bond  | 4.38% | 08/15/43 | 282879 |
| 3900000 | U.S. Treasury Bond  | 4.63% | 11/15/44 | 3773859 |
| 7000000 | U.S. Treasury Bond  | 5.00% | 05/15/45 | 7103906 |
| 695000 | U.S. Treasury Bond  | 2.25% | 08/15/46 | 450203 |
| 1130000 | U.S. Treasury Bond  | 2.75% | 08/15/47 | 796032 |
| 2000000 | U.S. Treasury Bond  | 3.00% | 02/15/48 | 1468984 |
| 4000000 | U.S. Treasury Bond  | 3.13% | 05/15/48 | 2999219 |
| 3000000 | U.S. Treasury Bond  | 3.00% | 08/15/48 | 2193281 |
| 395000 | U.S. Treasury Bond  | 3.38% | 11/15/48 | 308748 |
| 3500000 | U.S. Treasury Bond  | 3.00% | 02/15/49 | 2547070 |
| 7000000 | U.S. Treasury Bond  | 1.38% | 08/15/50 | 3404297 |
| 300000 | U.S. Treasury Bond  | 4.00% | 11/15/52 | 258627 |
| 6700000 | U.S. Treasury Bond  | 4.50% | 11/15/54 | 6287531 |
| 2000000 | U.S. Treasury Bond  | 4.63% | 02/15/55 | 1916563 |
| 10000000 | U.S. Treasury Bond  | 4.75% | 05/15/55 | 9782031 |
| 15000000 | U.S. Treasury Bond, STRIPS  | (i) | 02/15/40 | 7604423 |
| 14250000 | U.S. Treasury Bond, STRIPS  | (i) | 11/15/41 | 6495440 |
| 7000000 | U.S. Treasury Bond, STRIPS  | (i) | 08/15/42 | 3049638 |
| 8000000 | U.S. Treasury Bond, STRIPS  | (i) | 11/15/42 | 3432974 |
| 7522320 | U.S. Treasury Inflation Indexed Bonds (j) | 0.13% | 07/15/30 | 7078159 |
| 4000000 | U.S. Treasury Note  | 3.75% | 04/30/27 | 3984609 |
| 2000000 | U.S. Treasury Note  | 3.88% | 05/31/27 | 1996641 |
| 7000000 | U.S. Treasury Note  | 3.75% | 06/30/27 | 6974297 |
| 2900000 | U.S. Treasury Note  | 4.13% | 11/15/27 | 2913084 |
| 15000000 | U.S. Treasury Note  | 4.00% | 12/15/27 | 15034570 |
| 11000000 | U.S. Treasury Note  | 4.25% | 01/15/28 | 11086582 |
| 8000000 | U.S. Treasury Note  | 4.25% | 02/15/28 | 8067500 |
| 10000000 | U.S. Treasury Note  | 3.88% | 03/15/28 | 9999023 |
| 4000000 | U.S. Treasury Note  | 3.75% | 04/15/28 | 3985469 |
| 5500000 | U.S. Treasury Note  | 3.50% | 04/30/28 | 5444355 |
| 4000000 | U.S. Treasury Note  | 4.38% | 08/31/28 | 4055938 |
| 2000000 | U.S. Treasury Note  | 4.00% | 02/28/30 | 2005742 |
| 5000000 | U.S. Treasury Note  | 3.88% | 04/30/30 | 4985547 |
| 1500000 | U.S. Treasury Note  | 3.63% | 09/30/31 | 1463818 |
| 2000000 | U.S. Treasury Note  | 4.38% | 01/31/32 | 2030508 |
| 4000000 | U.S. Treasury Note  | 4.13% | 03/31/32 | 4002422 |
| 7000000 | U.S. Treasury Note  | 4.00% | 04/30/32 | 6950098 |
| 2000000 | U.S. Treasury Note  | 4.13% | 05/31/32 | 1999375 |
| 10000000 | U.S. Treasury Note  | 4.00% | 06/30/32 | 9920313 |
| 510000 | U.S. Treasury Note  | 2.75% | 08/15/32 | 466869 |
| 20000000 | U.S. Treasury Note  | 4.25% | 05/15/35 | 19826562 |
|  | **Total U.S. Government Bonds and Notes** | **Total U.S. Government Bonds and Notes** | **Total U.S. Government Bonds and Notes** | 200140440 |
|  | (Cost $199,161,888) | (Cost $199,161,888) | (Cost $199,161,888) |  |
| **ASSET-BACKED SECURITIES — 5.5%** | **ASSET-BACKED SECURITIES — 5.5%** | **ASSET-BACKED SECURITIES — 5.5%** | **ASSET-BACKED SECURITIES — 5.5%** | **ASSET-BACKED SECURITIES — 5.5%** |
|  | American Heritage Auto Receivables Trust | American Heritage Auto Receivables Trust | American Heritage Auto Receivables Trust | American Heritage Auto Receivables Trust |
| 640000 | Series 2024-1A, Class A3 (b) | 4.90% | 09/17/29 | 641917 |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** |
|  | ASSURANT CLO II Ltd. | ASSURANT CLO II Ltd. | ASSURANT CLO II Ltd. | ASSURANT CLO II Ltd. |
| $38780 | Series 2018-2A, Class A, 3 Mo. CME Term SOFR + CSA + <br> 1.04% (a) (b) | 5.63% | 04/20/31 | $38820 |
|  | Battalion CLO XXIV Ltd. | Battalion CLO XXIV Ltd. | Battalion CLO XXIV Ltd. | Battalion CLO XXIV Ltd. |
| 2000000 | Series 2022-24A, Class AR, 3 Mo. CME Term SOFR + <br> 1.33% (a) (b) | 5.65% | 07/14/36 | 2004021 |
|  | Capital Street Master Trust | Capital Street Master Trust | Capital Street Master Trust | Capital Street Master Trust |
| 250000 | Series 2024-1, Class A, 30 Day Average SOFR + 1.35% (a) (b) | 5.69% | 10/16/28 | 250048 |
| 2500000 | Series 2025-1, Class A, 30 Day Average SOFR + <br> 1.10% (a) (b) (k) | 5.45% | 08/16/29 | 2500000 |
|  | Cbam Ltd. | Cbam Ltd. | Cbam Ltd. | Cbam Ltd. |
| 1495000 | Series 2018-7A, Class B1, 3 Mo. CME Term SOFR + CSA + <br> 1.60% (a) (b) | 6.19% | 07/20/31 | 1500971 |
|  | Chase Auto Owner Trust | Chase Auto Owner Trust | Chase Auto Owner Trust | Chase Auto Owner Trust |
| 876000 | Series 2022-AA, Class A4 (b) | 3.99% | 03/27/28 | 872252 |
| 95000 | Series 2024-1A, Class A4 (b) | 5.05% | 10/25/29 | 96499 |
|  | CIFC Funding Ltd. | CIFC Funding Ltd. | CIFC Funding Ltd. | CIFC Funding Ltd. |
| 2000000 | Series 2015-4A, Class A1A2, 3 Mo. CME Term SOFR + CSA + <br> 1.07% (a) (b) | 5.66% | 04/20/34 | 2004366 |
|  | CoreVest American Finance Trust | CoreVest American Finance Trust | CoreVest American Finance Trust | CoreVest American Finance Trust |
| 510030 | Series 2019-3, Class A (b) | 2.71% | 10/15/52 | 506606 |
| 141794 | Series 2020-1, Class A2 (b) | 2.30% | 03/15/50 | 133230 |
| 10196 | Series 2020-2, Class A (b) | 3.38% | 05/15/52 | 10130 |
| 687323 | Series 2020-3, Class A (b) | 1.36% | 08/15/53 | 678710 |
| 239856 | Series 2021-1, Class A (b) | 1.57% | 04/15/53 | 234010 |
| 251694 | Series 2021-2, Class A (b) | 1.41% | 07/15/54 | 240949 |
|  | Elmwood CLO X Ltd. | Elmwood CLO X Ltd. | Elmwood CLO X Ltd. | Elmwood CLO X Ltd. |
| 2000000 | Series 2021-3A, Class AR2, 3 Mo. CME Term SOFR + <br> 1.30% (a) (b) | 5.56% | 07/20/38 | 2006600 |
|  | Flagship Credit Auto Trust | Flagship Credit Auto Trust | Flagship Credit Auto Trust | Flagship Credit Auto Trust |
| 1380978 | Series 2024-3, Class A (b) | 4.88% | 11/15/28 | 1382816 |
|  | FNA VI LLC | FNA VI LLC | FNA VI LLC | FNA VI LLC |
| 655694 | Series 2021-1A, Class A (b) | 1.35% | 01/10/32 | 609139 |
|  | Garnet CLO 2 Ltd. | Garnet CLO 2 Ltd. | Garnet CLO 2 Ltd. | Garnet CLO 2 Ltd. |
| 2000000 | Series 2025-2A, Class A, 3 Mo. CME Term SOFR + <br> 1.35% (a) (b) (l) | 0.00% | 10/20/38 | 2001720 |
|  | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust |
| 900000 | Series 2024-3A, Class A3 (b) | 5.02% | 04/17/28 | 901923 |
|  | GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust |
| 1250000 | Series 2023-1A, Class A3 (b) | 5.96% | 10/16/28 | 1260059 |
|  | Gracie Point International Funding LLC | Gracie Point International Funding LLC | Gracie Point International Funding LLC | Gracie Point International Funding LLC |
| 832000 | Series 2024-1A, Class A, 90 Day Average SOFR + 1.70% (a) (b) | 6.12% | 03/01/28 | 833618 |
|  | Harriman Park CLO Ltd. | Harriman Park CLO Ltd. | Harriman Park CLO Ltd. | Harriman Park CLO Ltd. |
| 2000000 | Series 2020-1A, Class ARR, 3 Mo. CME Term SOFR + <br> 1.30% (a) (b) | 5.63% | 07/20/38 | 2005500 |
|  | Home Partners of America Trust | Home Partners of America Trust | Home Partners of America Trust | Home Partners of America Trust |
| 963360 | Series 2020-2, Class A (b) | 1.53% | 01/17/41 | 868586 |
|  | HPEFS Equipment Trust | HPEFS Equipment Trust | HPEFS Equipment Trust | HPEFS Equipment Trust |
| 1000000 | Series 2023-2A, Class A3 (b) | 5.99% | 01/21/31 | 1001535 |
|  | OHA Credit Funding 15-R Ltd. | OHA Credit Funding 15-R Ltd. | OHA Credit Funding 15-R Ltd. | OHA Credit Funding 15-R Ltd. |
| 2200000 | Series 2023-15RA, Class A, 3 Mo. CME Term SOFR + <br> 1.29% (a) (b) | 5.60% | 07/20/38 | 2206050 |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** |
|  | Oscar US Funding XV LLC | Oscar US Funding XV LLC | Oscar US Funding XV LLC | Oscar US Funding XV LLC |
| $775000 | Series 2023-1A, Class A3 (b) | 5.81% | 12/10/27 | $780280 |
|  | Oscar US Funding XVII LLC | Oscar US Funding XVII LLC | Oscar US Funding XVII LLC | Oscar US Funding XVII LLC |
| 100000 | Series 2024-2A, Class A3 (b) | 4.47% | 03/12/29 | 99834 |
|  | OZLM XXIV Ltd. | OZLM XXIV Ltd. | OZLM XXIV Ltd. | OZLM XXIV Ltd. |
| 660209 | Series 2019-24A, Class A1AR, 3 Mo. CME Term SOFR + CSA <br> + 1.16% (a) (b) | 5.75% | 07/20/32 | 661603 |
|  | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust |
| 1036461 | Series 2024-10, Class A (b) | 5.18% | 06/15/32 | 1039049 |
| 1149196 | Series 2024-11, Class A (b) | 5.09% | 07/15/32 | 1150342 |
| 242813 | Series 2024-8, Class A (b) | 5.33% | 01/15/32 | 243313 |
| 329689 | Series 2024-9, Class A (b) | 5.07% | 03/15/32 | 329440 |
| 4999573 | Series 2025-1, Class A2 (b) | 5.16% | 07/15/32 | 5007489 |
| 1200146 | Series 2025-2, Class A (b) (d) | 4.83% | 10/15/32 | 1199377 |
| 2500000 | Series 2025-5, Class A2 (b) | 5.11% | 03/15/33 | 2503647 |
|  | Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust |
| 1000000 | Series 2025-4, Class A2 (b) | 5.37% | 01/17/33 | 1004819 |
| 2607458 | Series 2025-R1, Class A1 (b) | 4.87% | 05/18/26 | 2607074 |
|  | PFS Financing Corp. | PFS Financing Corp. | PFS Financing Corp. | PFS Financing Corp. |
| 1000000 | Series 2025-C, Class A, 30 Day Average SOFR + 0.95% (a) (b) | 5.29% | 04/15/29 | 1000900 |
| 1500000 | Series 2025-D, Class A (b) | 4.47% | 05/15/30 | 1501447 |
|  | Progress Residential Trust | Progress Residential Trust | Progress Residential Trust | Progress Residential Trust |
| 5493212 | Series 2025-SFR1, Class A (b) | 3.40% | 02/17/42 | 5194321 |
| 2600000 | Series 2025-SFR3, Class A (b) | 3.39% | 07/17/42 | 2434225 |
|  | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust |
| 1442332 | Series 2023-3A, Class A (b) | 7.13% | 01/26/32 | 1446546 |
|  | Rockland Park CLO Ltd. | Rockland Park CLO Ltd. | Rockland Park CLO Ltd. | Rockland Park CLO Ltd. |
| 2000000 | Series 2021-1A, Class A1R, 3 Mo. CME Term SOFR + <br> 1.30% (a) (b) (l) | 0.00% | 07/20/38 | 2001500 |
|  | Silver Point CLO 7 Ltd. | Silver Point CLO 7 Ltd. | Silver Point CLO 7 Ltd. | Silver Point CLO 7 Ltd. |
| 500000 | Series 2024-7A, Class A1, 3 Mo. CME Term SOFR + <br> 1.36% (a) (b) | 5.68% | 01/15/38 | 501469 |
|  | Silver Point CLO 9 Ltd. | Silver Point CLO 9 Ltd. | Silver Point CLO 9 Ltd. | Silver Point CLO 9 Ltd. |
| 1500000 | Series 2025-9A, Class A1, 3 Mo. CME Term SOFR + <br> 1.52% (a) (b) | 5.81% | 03/31/38 | 1506315 |
|  | Sixth Street CLO XX Ltd. | Sixth Street CLO XX Ltd. | Sixth Street CLO XX Ltd. | Sixth Street CLO XX Ltd. |
| 2000000 | Series 2021-20A, Class A1R, 3 Mo. CME Term SOFR + <br> 1.32% (a) (b) | 5.58% | 07/17/38 | 1999983 |
|  | Sound Point CLO XXVIII Ltd. | Sound Point CLO XXVIII Ltd. | Sound Point CLO XXVIII Ltd. | Sound Point CLO XXVIII Ltd. |
| 847961 | Series 2020-3A, Class A1R, 3 Mo. CME Term SOFR + <br> 1.28% (a) (b) | 5.60% | 01/25/32 | 849237 |
|  | STAR Trust | STAR Trust | STAR Trust | STAR Trust |
| 5000000 | Series 2025-SFR5, Class A, 1 Mo. CME Term SOFR + <br> 1.45% (a) (b) | 5.79% | 02/17/42 | 5007094 |
|  | Steele Creek CLO Ltd. | Steele Creek CLO Ltd. | Steele Creek CLO Ltd. | Steele Creek CLO Ltd. |
| 250000 | Series 2018-1A, Class B, 3 Mo. CME Term SOFR + CSA + <br> 1.48% (a) (b) | 6.06% | 04/15/31 | 250695 |
|  | Stratus Funding CLO Ltd. | Stratus Funding CLO Ltd. | Stratus Funding CLO Ltd. | Stratus Funding CLO Ltd. |
| 2250000 | Series 2025-1A, Class A2, 3 Mo. CME Term SOFR + <br> 1.33% (a) (b) | 5.67% | 07/15/33 | 2249895 |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** |
|  | Venture XIX CLO Ltd. | Venture XIX CLO Ltd. | Venture XIX CLO Ltd. | Venture XIX CLO Ltd. |
| $247819 | Series 2014-19A, Class ARR, 3 Mo. CME Term SOFR + CSA + <br> 1.26% (a) (b) | 5.84% | 01/15/32 | $248436 |
|  | **Total Asset-Backed Securities** | **Total Asset-Backed Securities** | **Total Asset-Backed Securities** | 69608405 |
|  | (Cost $69,294,225) | (Cost $69,294,225) | (Cost $69,294,225) |  |
| **FOREIGN CORPORATE BONDS AND NOTES — 3.7%** | **FOREIGN CORPORATE BONDS AND NOTES — 3.7%** | **FOREIGN CORPORATE BONDS AND NOTES — 3.7%** | **FOREIGN CORPORATE BONDS AND NOTES — 3.7%** | **FOREIGN CORPORATE BONDS AND NOTES — 3.7%** |
|  | **Banks — 1.2%** | **Banks — 1.2%** | **Banks — 1.2%** |  |
| 2330000 | Barclays PLC (g) | 4.97% | 05/16/29 | 2352202 |
| 2000000 | BNP Paribas S.A. (b) (g) | 5.09% | 05/09/31 | 2020194 |
| 2000000 | BNP Paribas S.A. (b) (g) | 5.89% | 12/05/34 | 2104048 |
| 1000000 | Credit Agricole S.A. (b) (g) | 5.34% | 01/10/30 | 1021702 |
| 1770000 | Lloyds Banking Group PLC (g) | 5.72% | 06/05/30 | 1837028 |
| 345000 | Lloyds Banking Group PLC (g) | 5.68% | 01/05/35 | 354398 |
| 2710000 | UBS Group AG (b) (g) | 4.19% | 04/01/31 | 2650045 |
| 2500000 | UBS Group AG (b) (g) | 5.58% | 05/09/36 | 2547243 |
|  |  |  |  | 14886860 |
|  | **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |  |
| 240000 | Bacardi Ltd. / Bacardi-Martini B.V. (b) | 5.25% | 01/15/29 | 243938 |
| 1000000 | Bacardi-Martini B.V. (b) | 5.55% | 02/01/30 | 1027552 |
|  |  |  |  | 1271490 |
|  | **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |  |
| 3000000 | Cemex S.A.B. de C.V. (b) | 5.45% | 11/19/29 | 3019191 |
|  | **Entertainment — 0.5%** | **Entertainment — 0.5%** | **Entertainment — 0.5%** |  |
| 1105000 | Flutter Treasury Designated Activity Co. (b) | 6.38% | 04/29/29 | 1137096 |
| 4900000 | Flutter Treasury Designated Activity Co. (b) | 5.88% | 06/04/31 | 4935378 |
|  |  |  |  | 6072474 |
|  | **Healthcare-Services — 0.5%** | **Healthcare-Services — 0.5%** | **Healthcare-Services — 0.5%** |  |
| 3800000 | Icon Investments Six Designated Activity Co. | 5.85% | 05/08/29 | 3941847 |
| 2415000 | Icon Investments Six Designated Activity Co. | 6.00% | 05/08/34 | 2472672 |
|  |  |  |  | 6414519 |
|  | **Insurance — 0.1%** | **Insurance — 0.1%** | **Insurance — 0.1%** |  |
| 1530000 | Aon Global Ltd.  | 4.75% | 05/15/45 | 1336840 |
|  | **Packaging & Containers — 0.6%** | **Packaging & Containers — 0.6%** | **Packaging & Containers — 0.6%** |  |
| 6500000 | CCL Industries, Inc. (b) | 3.05% | 06/01/30 | 6017181 |
| 845000 | Smurfit Kappa Treasury ULC | 5.20% | 01/15/30 | 866235 |
| 1050000 | Smurfit Kappa Treasury ULC | 5.44% | 04/03/34 | 1072075 |
|  |  |  |  | 7955491 |
|  | **Software — 0.5%** | **Software — 0.5%** | **Software — 0.5%** |  |
| 670000 | Constellation Software, Inc. (b) | 5.46% | 02/16/34 | 679063 |
| 4895000 | Open Text Corp. (b) | 6.90% | 12/01/27 | 5058718 |
|  |  |  |  | 5737781 |
|  | **Total Foreign Corporate Bonds and Notes** | **Total Foreign Corporate Bonds and Notes** | **Total Foreign Corporate Bonds and Notes** | 46694646 |
|  | (Cost $46,064,223) | (Cost $46,064,223) | (Cost $46,064,223) |  |
| **U.S. GOVERNMENT AGENCY SECURITIES — 1.1%** | **U.S. GOVERNMENT AGENCY SECURITIES — 1.1%** | **U.S. GOVERNMENT AGENCY SECURITIES — 1.1%** | **U.S. GOVERNMENT AGENCY SECURITIES — 1.1%** | **U.S. GOVERNMENT AGENCY SECURITIES — 1.1%** |
| 14121000 | Tennessee Valley Authority  | 5.25% | 02/01/55 | 13704435 |
|  | (Cost $13,961,833) |  |  |  |

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MUNICIPAL BONDS — 0.5%** | **MUNICIPAL BONDS — 0.5%** | **MUNICIPAL BONDS — 0.5%** | **MUNICIPAL BONDS — 0.5%** | **MUNICIPAL BONDS — 0.5%** |
|  | **New York — 0.5%** | **New York — 0.5%** | **New York — 0.5%** |  |
| $4000000 | City of NY, Ser G-1 | 5.25% | 02/01/50 | $4095906 |
| 1640000 | NY City Transitional Fin Auth, Ser A (l) | 5.50% | 05/01/50 | 1729950 |
|  | **Total Municipal Bonds** | **Total Municipal Bonds** | **Total Municipal Bonds** | 5825856 |
|  | (Cost $5,858,451) | (Cost $5,858,451) | (Cost $5,858,451) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **EXCHANGE-TRADED FUNDS — 0.0%** | **EXCHANGE-TRADED FUNDS — 0.0%** | **EXCHANGE-TRADED FUNDS — 0.0%** |
|  | **Capital Markets — 0.0%** |  |
| 20000 | First Trust Commercial Mortgage Opportunities ETF (m) | 406700 |
|  | (Cost $407,187) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Stated** <br>**Maturity**<br>| **Value** |
| **U.S. TREASURY BILLS — 3.1%** | **U.S. TREASURY BILLS — 3.1%** | **U.S. TREASURY BILLS — 3.1%** | **U.S. TREASURY BILLS — 3.1%** |
| 10000000 | U.S. Treasury Bill <br> (i) | 08/07/25 | 9992895 |
| 10000000 | U.S. Treasury Bill <br> (i) | 09/09/25 | 9953736 |
| 20000000 | U.S. Treasury Bill <br> (i) | 10/28/25 | 19793126 |
|  | **Total U.S. Treasury Bills** | **Total U.S. Treasury Bills** | 39739757 |
|  | (Cost $39,740,845) | (Cost $39,740,845) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 1.6%** | **MONEY MARKET FUNDS — 1.6%** | **MONEY MARKET FUNDS — 1.6%** |
| 20501721 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 4.16% (n) | 20501721 |
|  | (Cost $20,501,721) |  |
|  | **Total Investments — 105.5%** | 1342961708 |
|  | (Cost $1,335,388,427) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of** <br>**Contracts**<br>| **Description** | **Notional** <br>**Amount**<br>| **Exercise** <br>**Price**<br>| **Expiration** <br>**Date**<br>| **Value** |
| **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** |
|  | **Call Options Purchased — 0.0%** | **Call Options Purchased — 0.0%** | **Call Options Purchased — 0.0%** | **Call Options Purchased — 0.0%** |  |
| 13 | U.S. 2-Year Treasury Futures Call  | $2690797 | $104.25 | 08/22/25 | 609 |
| 54 | U.S. Treasury Long Bond Futures Call  | 6166125 | 116.00 | 08/22/25 | 27000 |
|  | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | 27609 |
|  | (Cost $27,993) | (Cost $27,993) | (Cost $27,993) | (Cost $27,993) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Stated** <br>**Coupon**<br>| **Stated** <br>**Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (0.6)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (0.6)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (0.6)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (0.6)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (0.6)%** |
|  | **Pass-Through Securities — (0.6)%** | **Pass-Through Securities — (0.6)%** | **Pass-Through Securities — (0.6)%** |  |
|  | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |  |
| $(2013000) | Pool TBA (f) | 3.50% | 08/15/55 | (1798540)<br>|
| (5675000) | Pool TBA  | 4.50% | 09/15/55 | (5381816)<br>|
|  | **Total Investments Sold Short — (0.6)%** | **Total Investments Sold Short — (0.6)%** | **Total Investments Sold Short — (0.6)%** | (7180356)<br>|
|  | (Proceeds $7,191,984) | (Proceeds $7,191,984) | (Proceeds $7,191,984) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of** <br>**Contracts**<br>| **Description** | **Notional** <br>**Amount**<br>| **Exercise** <br>**Price**<br>| **Expiration** <br>**Date**<br>| **Value** |
| **WRITTEN OPTIONS — (0.1)%** | **WRITTEN OPTIONS — (0.1)%** | **WRITTEN OPTIONS — (0.1)%** | **WRITTEN OPTIONS — (0.1)%** | **WRITTEN OPTIONS — (0.1)%** | **WRITTEN OPTIONS — (0.1)%** |
|  | **Call Options Written — (0.0)%** | **Call Options Written — (0.0)%** | **Call Options Written — (0.0)%** | **Call Options Written — (0.0)%** |  |
| (118) | 3 Month SOFR Futures Call  | $(28533875)<br>| $97.50 | 12/10/27 | $(76700)<br>|
| (12) | U.S. 2-Year Treasury Futures Call  | (2489531)<br>| 104.25 | 11/21/25 | (4688)<br>|
| (20) | U.S. 5-Year Treasury Futures Call  | (2163438)<br>| 109.00 | 08/22/25 | (2344)<br>|
| (55) | U.S. 5-Year Treasury Futures Call  | (5949453)<br>| 110.50 | 08/22/25 | (1289)<br>|
| (4) | U.S. 5-Year Treasury Futures Call  | (432688)<br>| 112.00 | 08/22/25 | (63)<br>|
| (8) | U.S. 5-Year Treasury Futures Call  | (866563)<br>| 111.00 | 11/21/25 | (1625)<br>|
| (29) | U.S. 10-Year Treasury Futures Call  | (3220813)<br>| 112.00 | 08/22/25 | (6797)<br>|
| (29) | U.S. 10-Year Treasury Futures Call  | (3220813)<br>| 114.50 | 08/22/25 | (906)<br>|
| (143) | U.S. 10-Year Treasury Futures Call  | (15881937)<br>| 115.00 | 08/22/25 | (4469)<br>|
| (59) | U.S. 10-Year Treasury Futures Call  | (6552687)<br>| 114.00 | 11/21/25 | (25812)<br>|
| (72) | U.S. 10-Year Treasury Futures Call  | (7996500)<br>| 115.00 | 11/21/25 | (21375)<br>|
| (8) | U.S. 10-Year Treasury Futures Call  | (888500)<br>| 116.00 | 11/21/25 | (1625)<br>|
| (5) | U.S. Treasury Long Bond Futures Call  | (567031)<br>| 124.00 | 02/20/26 | (4688)<br>|
| (8) | U.S. Treasury Long Bond Futures Call  | (913500)<br>| 113.00 | 08/22/25 | (15125)<br>|
| (13) | U.S. Treasury Long Bond Futures Call  | (1484438)<br>| 123.00 | 08/22/25 | (609)<br>|
| (213) | U.S. Treasury Long Bond Futures Call  | (24321937)<br>| 124.00 | 08/22/25 | (6656)<br>|
| (10) | U.S. Treasury Long Bond Futures Call  | (1141875)<br>| 128.00 | 08/22/25 | (156)<br>|
| (32) | U.S. Treasury Long Bond Futures Call  | (3642000)<br>| 116.00 | 11/21/25 | (62500)<br>|
| (99) | U.S. Treasury Long Bond Futures Call  | (11267437)<br>| 118.00 | 11/21/25 | (131484)<br>|
| (165) | U.S. Treasury Long Bond Futures Call  | (18779062)<br>| 120.00 | 11/21/25 | (146953)<br>|
| (18) | U.S. Treasury Long Bond Futures Call  | (2048625)<br>| 121.00 | 11/21/25 | (13219)<br>|
| (108) | U.S. Treasury Long Bond Futures Call  | (12291750)<br>| 122.00 | 11/21/25 | (64125)<br>|
| (83) | U.S. Treasury Long Bond Futures Call  | (9446437)<br>| 124.00 | 11/21/25 | (33719)<br>|
| (8) | U.S. Treasury Long Bond Futures Call  | (910500)<br>| 125.00 | 11/21/25 | (2750)<br>|
| (2) | U.S. Treasury Long Bond Futures Call  | (227625)<br>| 126.00 | 11/21/25 | (594)<br>|
| (7) | U.S. Treasury Long Bond Futures Call  | (796688)<br>| 128.00 | 11/21/25 | (1531)<br>|
| (8) | Ultra 10-Year U.S. Treasury Futures Call  | (904625)<br>| 116.00 | 08/22/25 | (625)<br>|
| (14) | Ultra 10-Year U.S. Treasury Futures Call  | (1583531)<br>| 115.00 | 11/21/25 | (14437)<br>|
| (8) | Ultra U.S. Treasury Long Bond Futures Call  | (938500)<br>| 122.00 | 08/22/25 | (1875)<br>|
|  | **Total Call Options Written** | **Total Call Options Written** | **Total Call Options Written** | **Total Call Options Written** | (648739)<br>|
|  | (Premiums received $1,143,735) | (Premiums received $1,143,735) | (Premiums received $1,143,735) | (Premiums received $1,143,735) |  |
|  | **Put Options Written — (0.1)%** | **Put Options Written — (0.1)%** | **Put Options Written — (0.1)%** | **Put Options Written — (0.1)%** |  |
| (100) | 3 Month SOFR Futures Put  | (24181250)<br>| 95.00 | 12/11/26 | (11250)<br>|
| (118) | 3 Month SOFR Futures Put  | (28533875)<br>| 95.50 | 12/10/27 | (62687)<br>|
| (30) | U.S. 2-Year Treasury Futures Put  | (6209531)<br>| 103.50 | 08/22/25 | (9844)<br>|
| (194) | U.S. 2-Year Treasury Futures Put  | (40247422)<br>| 103.00 | 11/21/25 | (36375)<br>|
| (18) | U.S. 2-Year Treasury Futures Put  | (3734297)<br>| 103.25 | 11/21/25 | (5625)<br>|
| (38) | U.S. 2-Year Treasury Futures Put  | (7883516)<br>| 103.50 | 11/21/25 | (19000)<br>|
| (68) | U.S. 5-Year Treasury Futures Put  | (7355687)<br>| 106.75 | 08/22/25 | (2125)<br>|
| (35) | U.S. 5-Year Treasury Futures Put  | (3791211)<br>| 106.00 | 11/21/25 | (6016)<br>|
| (74) | U.S. 5-Year Treasury Futures Put  | (8015703)<br>| 106.50 | 11/21/25 | (18500)<br>|
| (26) | U.S. 10-Year Treasury Futures Put  | (2887625)<br>| 110.00 | 08/22/25 | (4875)<br>|
| (30) | U.S. 10-Year Treasury Futures Put  | (3331875)<br>| 107.00 | 11/21/25 | (7500)<br>|
| (4) | U.S. 10-Year Treasury Futures Put  | (444250)<br>| 107.50 | 11/21/25 | (1250)<br>|
| (37) | U.S. 10-Year Treasury Futures Put  | (4109313)<br>| 108.00 | 11/21/25 | (14453)<br>|
| (57) | U.S. 10-Year Treasury Futures Put  | (6330562)<br>| 109.00 | 11/21/25 | (33844)<br>|
| (233) | U.S. Treasury Long Bond Futures Put  | (26605687)<br>| 116.00 | 08/22/25 | (538812)<br>|
| (12) | U.S. Treasury Long Bond Futures Put  | (1365750)<br>| 98.00 | 11/21/25 | (2250)<br>|
| (31) | U.S. Treasury Long Bond Futures Put  | (3528188)<br>| 99.00 | 11/21/25 | (6297)<br>|
| (10) | U.S. Treasury Long Bond Futures Put  | (1138125)<br>| 103.00 | 11/21/25 | (3906)<br>|

---

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of**<br> **Contracts**<br>| **Description** | **Notional**<br> **Amount**<br>| **Exercise**<br> **Price**<br>| **Expiration**<br> **Date**<br>| **Value** |
| **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** |
|  | **Put Options Written (Continued)** | **Put Options Written (Continued)** | **Put Options Written (Continued)** | **Put Options Written (Continued)** |  |
| (8) | U.S. Treasury Long Bond Futures Put  | $(910500)<br>| $105.00 | 11/21/25 | $(4625)<br>|
| (4) | U.S. Treasury Long Bond Futures Put  | (455250)<br>| 106.00 | 11/21/25 | (2750)<br>|
| (225) | U.S. Treasury Long Bond Futures Put  | (25607812)<br>| 107.00 | 11/21/25 | (189844)<br>|
| (41) | U.S. Treasury Long Bond Futures Put  | (4666313)<br>| 108.00 | 11/21/25 | (41641)<br>|
| (28) | U.S. Treasury Long Bond Futures Put  | (3186750)<br>| 110.00 | 11/21/25 | (41125)<br>|
| (29) | U.S. Treasury Long Bond Futures Put  | (3288781)<br>| 110.00 | 02/20/26 | (74312)<br>|
| (4) | Ultra 10-Year U.S. Treasury Long Bond Futures <br> Put <br>| (452313)<br>| 111.00 | 08/22/25 | (625)<br>|
| (26) | Ultra U.S. Treasury Long Bond Futures Put  | (3050125)<br>| 110.00 | 08/22/25 | (4063)<br>|
| (4) | Ultra U.S. Treasury Long Bond Futures Put  | (469250)<br>| 112.00 | 08/22/25 | (1063)<br>|
| (2) | Ultra U.S. Treasury Long Bond Futures Put  | (234125)<br>| 110.00 | 11/21/25 | (2781)<br>|
|  | **Total Put Options Written** | **Total Put Options Written** | **Total Put Options Written** | **Total Put Options Written** | (1147438)<br>|
|  | (Premiums received $1,572,703) | (Premiums received $1,572,703) | (Premiums received $1,572,703) | (Premiums received $1,572,703) |  |
|  | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | (1796177)<br>|
|  | (Premiums received $2,716,438) | (Premiums received $2,716,438) | (Premiums received $2,716,438) | (Premiums received $2,716,438) |  |
|  | **Net Other Assets and Liabilities — (4.8)%** | **Net Other Assets and Liabilities — (4.8)%** | **Net Other Assets and Liabilities — (4.8)%** | **Net Other Assets and Liabilities — (4.8)%** | (60846165)<br>|
|  | **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1273166619 |

---

**Futures Contracts at July 31, 2025** (See Note 2D - Futures Contracts in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Long** | **Number of** <br>**Contracts**<br>| **Expiration** <br>**Date**<br>| **Notional** <br>**Value**<br>| **Unrealized** <br>**Appreciation** <br>**(Depreciation)/** <br>**Value**<br>|
| U.S. 2-Year Treasury Notes | 1116 | Sep-2025 | &nbsp;&nbsp; $230994564 | &nbsp;&nbsp; $(356693)<br>|
| U.S. 5-Year Treasury Notes | 647 | Sep-2025 | &nbsp;&nbsp; 69987203 | &nbsp;&nbsp; (48070)<br>|
| U.S. Treasury Long Bond Futures | 236 | Sep-2025 | &nbsp;&nbsp; 26948250 | &nbsp;&nbsp; 439866 |
| Ultra U.S. Treasury Bond Futures | 202 | Sep-2025 | &nbsp;&nbsp; 23697125 | &nbsp;&nbsp; 309173 |
|  |  |  | &nbsp;&nbsp; $351627142 | &nbsp;&nbsp; $344276 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Short** |  |  |  |  |
| U.S. 10-Year Treasury Notes | 34 | Sep-2025 | &nbsp;&nbsp; $(3776125)<br>| &nbsp;&nbsp; $(12250)<br>|
| Ultra 10-Year U.S. Treasury Notes | 329 | Sep-2025 | &nbsp;&nbsp; (37202703)<br>| &nbsp;&nbsp; (174323)<br>|
|  |  |  | &nbsp;&nbsp; $(40978828)<br>| &nbsp;&nbsp; $(186573)<br>|
|  |  | &nbsp;&nbsp; Total | &nbsp;&nbsp; $310648314 | &nbsp;&nbsp; $157703 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Floating
 or variable rate security.

&nbsp;&nbsp;&nbsp;&nbsp;(b) This
 security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule
 144A of the Securities Act of 1933, as amended, and may be resold in transactions exempt from registration, normally
 to qualified
 institutional buyers. Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to
 be liquid by First Trust Advisors L.P. (the "Advisor"). Although market instability can result in periods of increased overall market
 illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require subjective
 judgment. At July 31, 2025, securities noted as such amounted to $378,202,829 or 29.7% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Inverse
 floating rate security.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Weighted
 Average Coupon security. Coupon is based on the blended interest rate of the underlying holdings, which may have different
 coupons. The coupon may change in any period.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Collateral
 Strip Rate security. Coupon is based on the weighted net interest rate of the investment's underlying collateral. The interest
 rate resets periodically.

&nbsp;&nbsp;&nbsp;&nbsp;(f) All
 or a portion of this security is part of a mortgage dollar roll agreement (see Note 2I - Mortgage Dollar Rolls and TBA Transactions
 in the Notes to Financial Statements).

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(g) Fixed-to-floating
 or fixed-to-variable rate security. The interest rate shown reflects the fixed rate in effect at July 31, 2025. At a predetermined
 date, the fixed rate will change to a floating rate or a variable rate.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Step-up
 security. A security where the coupon increases or steps up at a predetermined date.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Zero
 coupon security.

&nbsp;&nbsp;&nbsp;&nbsp;(j) Security
 whose principal value is adjusted in accordance with changes to the country's Consumer Price Index. Interest is calculated
 on the basis of the current adjusted principal value.

&nbsp;&nbsp;&nbsp;&nbsp;(k) This
 security is fair valued by the Advisor's Pricing Committee in accordance with procedures approved by the Trust's Board of Trustees,
 and in accordance with provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At July
 31, 2025, securities noted as such are valued at $2,500,000 or 0.2% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(l) When-issued
 security. The interest rate shown reflects the rate in effect at July 31, 2025. Interest will begin accruing on the security's
 first settlement date.

&nbsp;&nbsp;&nbsp;&nbsp;(m) Investment
 in an affiliated fund.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Rate
 shown reflects yield as of July 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| CME | – Chicago Mercantile Exchange |
| CSA | – Credit Spread Adjustment |
| IO | – Interest-Only Security - Principal amount shown represents par value on which interest payments are based |
| REMIC | – Real Estate Mortgage Investment Conduit |
| SOFR | – Secured Overnight Financing Rate |
| STACR | – Structured Agency Credit Risk |
| STRIPS | – Separate Trading of Registered Interest and Principal of Securities |
| TBA | – To-Be-Announced Security |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of July 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total** <br>**Value at** <br>**7/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| U.S. Government Agency Mortgage-Backed <br> Securities<br>| $465083709 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $465083709 | &nbsp;&nbsp; $— |
| Corporate Bonds and Notes\* | 258141524 | &nbsp;&nbsp; — | &nbsp;&nbsp; 258141524 | &nbsp;&nbsp; — |
| Mortgage-Backed Securities | 223114515 | &nbsp;&nbsp; — | &nbsp;&nbsp; 223114515 | &nbsp;&nbsp; — |
| U.S. Government Bonds and Notes | 200140440 | &nbsp;&nbsp; — | &nbsp;&nbsp; 200140440 | &nbsp;&nbsp; — |
| Asset-Backed Securities | 69608405 | &nbsp;&nbsp; — | &nbsp;&nbsp; 69608405 | &nbsp;&nbsp; — |
| Foreign Corporate Bonds and Notes\* | 46694646 | &nbsp;&nbsp; — | &nbsp;&nbsp; 46694646 | &nbsp;&nbsp; — |
| U.S. Government Agency Securities | 13704435 | &nbsp;&nbsp; — | &nbsp;&nbsp; 13704435 | &nbsp;&nbsp; — |
| Municipal Bonds | 5825856 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5825856 | &nbsp;&nbsp; — |
| Exchange-Traded Funds\* | 406700 | &nbsp;&nbsp; 406700 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| U.S. Treasury Bills | 39739757 | &nbsp;&nbsp; — | &nbsp;&nbsp; 39739757 | &nbsp;&nbsp; — |
| Money Market Funds | 20501721 | &nbsp;&nbsp; 20501721 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total Investments | 1342961708 | &nbsp;&nbsp; 20908421 | &nbsp;&nbsp; 1322053287 | &nbsp;&nbsp; — |
| Purchased Options | 27609 | &nbsp;&nbsp; 27609 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Futures Contracts\*\* | 749039 | &nbsp;&nbsp; 749039 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total | $1343738356 | &nbsp;&nbsp; $21685069 | &nbsp;&nbsp; $1322053287 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total** <br>**Value at** <br>**7/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| U.S. Government Agency Mortgage-Backed <br> Securities Sold Short<br>| $(7180356)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(7180356)<br>| &nbsp;&nbsp; $— |
| Written Options | (1796177)<br>| &nbsp;&nbsp; (1796177)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Futures Contracts\*\* | (591336)<br>| &nbsp;&nbsp; (591336)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total | $(9567869)<br>| &nbsp;&nbsp; $(2387513)<br>| &nbsp;&nbsp; $(7180356)<br>| &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for industry breakout.

\*\* Includes cumulative appreciation/depreciation on futures contracts as reported in the Futures Contracts table. Only the current day's variation margin is presented on the Statements of Assets and Liabilities. 

See Notes to Financial Statements

------

**First Trust Commercial Mortgage Opportunities ETF (CAAA)**

**Portfolio of Investments**

**July 31, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Stated** <br>**Coupon**<br>| **Stated** <br>**Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES — 95.0%** | **MORTGAGE-BACKED SECURITIES — 95.0%** | **MORTGAGE-BACKED SECURITIES — 95.0%** | **MORTGAGE-BACKED SECURITIES — 95.0%** | **MORTGAGE-BACKED SECURITIES — 95.0%** |
|  | **Commercial Mortgage-Backed Securities — 95.0%** | **Commercial Mortgage-Backed Securities — 95.0%** | **Commercial Mortgage-Backed Securities — 95.0%** |  |
|  | 2023-MIC Trust (The) | 2023-MIC Trust (The) | 2023-MIC Trust (The) | 2023-MIC Trust (The) |
| $280000 | Series 2023-MIC, Class A (a) (b) | 8.44% | 12/05/38 | $303325 |
|  | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust |
| 390000 | Series 2020-MF1, Class A4 (a) | 2.50% | 05/15/53 | 357636 |
| 150000 | Series 2020-MF1, Class AS (a) | 3.06% | 05/15/53 | 137913 |
|  | BANK | BANK | BANK | BANK |
| 2890392 | Series 2018-BN10, Class XA, IO (b) | 0.68% | 02/15/61 | 42646 |
| 275000 | Series 2018-BN13, Class A4 | 3.95% | 08/15/61 | 271061 |
| 7611160 | Series 2019-BN19, Class XA, IO (b) | 0.93% | 08/15/61 | 236428 |
| 4111597 | Series 2019-BN23, Class XA, IO (b) | 0.68% | 12/15/52 | 101612 |
| 325000 | Series 2020-BN26, Class A3 | 2.16% | 03/15/63 | 291537 |
| 2401995 | Series 2020-BN26, Class XA, IO (b) | 1.19% | 03/15/63 | 98263 |
| 500000 | Series 2020-BN29, Class A4 | 2.00% | 11/15/53 | 428451 |
| 350000 | Series 2020-BN30, Class A4 | 1.93% | 12/15/53 | 301210 |
| 7500000 | Series 2021-BN31, Class XB, IO (b) | 0.87% | 02/15/54 | 309570 |
| 318750 | Series 2021-BN33, Class A5 | 2.56% | 05/15/64 | 282111 |
| 5178859 | Series 2025-BNK49, Class XA, IO (b) | 0.63% | 03/15/58 | 247313 |
|  | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
| 268000 | Series 2018-TALL, Class A, 1 Mo. CME Term SOFR + CSA + <br> 0.87% (a) (c) | 5.26% | 03/15/37 | 255094 |
| 550000 | Series 2020-C8, Class A5 | 2.04% | 10/15/53 | 481347 |
| 300000 | Series 2022-C16, Class A5 | 4.60% | 06/15/55 | 293517 |
| 5800000 | Series 2025-C35, Class XA, IO (b) | 0.86% | 07/15/58 | 301344 |
|  | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
| 329000 | Series 2020-B18, Class A5 | 1.93% | 07/15/53 | 286075 |
| 500000 | Series 2021-B25, Class A4 | 2.27% | 04/15/54 | 445087 |
| 425000 | Series 2023-B40, Class ASB | 6.25% | 12/15/56 | 457850 |
| 2443885 | Series 2024-V6, Class XA, IO (b) | 1.34% | 03/15/57 | 102263 |
|  | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
| 260000 | Series 2023-C5, Class ASB | 5.99% | 06/15/56 | 272296 |
| 250000 | Series 2024-C9, Class A5 | 5.76% | 07/15/57 | 261829 |
| 350000 | Series 2025-C12, Class ASB | 5.76% | 06/15/58 | 366606 |
|  | BPR Mortgage Trust | BPR Mortgage Trust | BPR Mortgage Trust | BPR Mortgage Trust |
| 250000 | Series 2023-STON, Class A (a) | 7.50% | 12/05/39 | 259548 |
|  | BPR Trust | BPR Trust | BPR Trust | BPR Trust |
| 69494 | Series 2021-WILL, Class A, 1 Mo. CME Term SOFR + CSA + <br> 1.75% (a) (c) | 6.21% | 06/15/38 | 69355 |
|  | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust |
| 300000 | Series 2025-1C, Class A (a) (b) | 5.37% | 06/15/44 | 304512 |
|  | BWAY Trust | BWAY Trust | BWAY Trust | BWAY Trust |
| 255000 | Series 2025-1535, Class A (a) (b) | 6.31% | 05/05/42 | 260322 |
|  | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust |
| 489000 | Series 2020-VIV4, Class A (a) | 2.84% | 03/09/44 | 446589 |
|  | BX Trust | BX Trust | BX Trust | BX Trust |
| 370000 | Series 2021-ARIA, Class A, 1 Mo. CME Term SOFR + CSA + <br> 0.90% (a) (c) | 5.36% | 10/15/36 | 369997 |
| 260000 | Series 2025-GW, Class A, 1 Mo. CME Term SOFR + <br> 1.60% (a) (c) | 5.94% | 07/15/42 | 261243 |

---

See Notes to Financial Statements

------

**First Trust Commercial Mortgage Opportunities ETF (CAAA)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | Cali Mortgage Trust | Cali Mortgage Trust | Cali Mortgage Trust | Cali Mortgage Trust |
| $134000 | Series 2024-SUN, Class A, 1 Mo. CME Term SOFR + <br> 1.89% (a) (c) | 6.23% | 07/15/41 | $134428 |
|  | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending |
| 345322 | Series 2019-CF1, Class A2 | 3.62% | 05/15/52 | 332726 |
|  | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust |
| 7582957 | Series 2017-C8, Class XA, IO (b) | 1.47% | 06/15/50 | 139672 |
|  | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust |
| 270000 | Series 2025-SFT, Class A (a) (b) | 5.48% | 04/15/42 | 273926 |
|  | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust |
| 426785 | Series 2019-GC43, Class AAB | 2.96% | 11/10/52 | 412305 |
|  | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust |
| 375000 | Series 2019-UVIL, Class A (a) | 3.16% | 12/15/41 | 346059 |
|  | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust |
| 226000 | Series 2015-C3, Class B (b) | 3.99% | 08/15/48 | 211975 |
|  | Fashion Show Mall LLC | Fashion Show Mall LLC | Fashion Show Mall LLC | Fashion Show Mall LLC |
| 275000 | Series 2024-SHOW, Class A (a) (b) | 5.10% | 10/10/41 | 276207 |
|  | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust |
| 304877 | Series 2017-GS6, Class A2 | 3.16% | 05/10/50 | 299449 |
| 8648745 | Series 2019-GC39, Class XA, IO (b) | 1.09% | 05/10/52 | 302555 |
| 300000 | Series 2024-FAIR, Class A (a) (b) | 5.88% | 07/15/29 | 308056 |
|  | Hawaii Hotel Trust | Hawaii Hotel Trust | Hawaii Hotel Trust | Hawaii Hotel Trust |
| 257500 | Series 2025-MAUI, Class A, 1 Mo. CME Term SOFR + <br> 1.39% (a) (c) | 5.73% | 03/15/42 | 257860 |
|  | Hilton USA Trust | Hilton USA Trust | Hilton USA Trust | Hilton USA Trust |
| 300000 | Series 2025-NVIL, Class A, 1 Mo. CME Term SOFR + <br> 1.74% (a) (c) | 6.08% | 07/15/42 | 301468 |
|  | Houston Galleria Mall Trust | Houston Galleria Mall Trust | Houston Galleria Mall Trust | Houston Galleria Mall Trust |
| 280000 | Series 2025-HGLR, Class A (a) (b) | 5.46% | 02/05/45 | 284663 |
|  | ILPT Trust | ILPT Trust | ILPT Trust | ILPT Trust |
| 225000 | Series 2019-SURF, Class A (a) | 4.15% | 02/11/41 | 218007 |
|  | JW Trust | JW Trust | JW Trust | JW Trust |
| 260000 | Series 2024-BERY, Class A, 1 Mo. CME Term SOFR + <br> 1.59% (a) (c) | 5.93% | 11/15/39 | 260712 |
|  | Manhattan West Mortgage Trust | Manhattan West Mortgage Trust | Manhattan West Mortgage Trust | Manhattan West Mortgage Trust |
| 287000 | Series 2020-1MW, Class A (a) | 2.13% | 09/10/39 | 270756 |
|  | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust |
| 290000 | Series 2018-L1, Class A3 | 4.14% | 10/15/51 | 286011 |
| 310015 | Series 2019-L2, Class A3 | 3.81% | 03/15/52 | 299146 |
| 12281283 | Series 2019-L2, Class XA, IO (b) | 0.99% | 03/15/52 | 360620 |
|  | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust |
| 5348114 | Series 2023-1, Class XA, IO (b) | 0.86% | 05/15/56 | 275907 |
|  | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust |
| 250000 | Series 2025-299P, Class A (a) (b) | 5.66% | 02/10/47 | 257947 |
|  | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust |
| 375000 | Series 2021-1290, Class A, 1 Mo. CME Term SOFR + CSA + <br> 1.10% (a) (c) | 5.55% | 11/15/38 | 374836 |
|  | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust |
| 319200 | Series 2021-555, Class A, 1 Mo. CME Term SOFR + CSA + <br> 1.15% (a) (c) | 5.61% | 05/15/38 | 317984 |

---

See Notes to Financial Statements

------

**First Trust Commercial Mortgage Opportunities ETF (CAAA)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | SKY Trust | SKY Trust | SKY Trust | SKY Trust |
| $279123 | Series 2025-LINE, Class A, 1 Mo. CME Term SOFR + <br> 2.59% (a) (c) | 6.93% | 04/15/42 | $280484 |
|  | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
| 375000 | Series 2018-C47, Class A4 | 4.44% | 09/15/61 | 372241 |
| 76100 | Series 2018-C47, Class AS | 4.67% | 09/15/61 | 74967 |
| 4117154 | Series 2021-C59, Class XA, IO (b) | 1.49% | 04/15/54 | 249316 |
| 380000 | Series 2022-C62, Class A4 | 4.00% | 04/15/55 | 357573 |
|  | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust |
| 325000 | Series 2025-DC, Class A (a) (b) | 5.35% | 07/15/40 | 330559 |
|  | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | 17372365 |
|  | (Cost $17,238,455) | (Cost $17,238,455) | (Cost $17,238,455) |  |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 0.6%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 0.6%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 0.6%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 0.6%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 0.6%** |
|  | **Commercial Mortgage-Backed Securities — 0.6%** | **Commercial Mortgage-Backed Securities — 0.6%** | **Commercial Mortgage-Backed Securities — 0.6%** |  |
|  | Federal Home Loan Mortgage Corporation Multiclass Certificates |  |  |  |
| 160000 | Series 2020-RR05, Class X, IO | 2.01% | 01/27/29 | 9382 |
| 1500000 | Series 2020-RR07, Class AX, IO (d) | 2.47% | 09/27/28 | 93085 |
|  | Federal Home Loan Mortgage Corporation Multifamily Structured <br> Pass Through Certificates |  |  |  |
| 492799 | Series 2016-KIR1, Class X, IO (b) | 1.00% | 03/25/26 | 1719 |
|  | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | 104186 |
|  | (Cost $108,365) | (Cost $108,365) | (Cost $108,365) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 3.6%** | **MONEY MARKET FUNDS — 3.6%** | **MONEY MARKET FUNDS — 3.6%** |
| 655161 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 4.16% (e) | 655161 |
|  | (Cost $655,161) |  |
|  | **Total Investments — 99.2%** | 18131712 |
|  | (Cost $18,001,981) |  |
|  | **Net Other Assets and Liabilities — 0.8%** | 154547 |
|  | **Net Assets — 100.0%** | $18286259 |

---

**Futures Contracts at July 31, 2025** (See Note 2D - Futures Contracts in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Long** | **Number of** <br>**Contracts**<br>| **Expiration** <br>**Date**<br>| **Notional** <br>**Value**<br>| **Unrealized** <br>**Appreciation** <br>**(Depreciation)/** <br>**Value**<br>|
| U.S. 2-Year Treasury Notes | 17 | Sep-2025 | &nbsp;&nbsp; $3518734 | &nbsp;&nbsp; $(5327)<br>|
| U.S. 5-Year Treasury Notes | 4 | Sep-2025 | &nbsp;&nbsp; 432688 | &nbsp;&nbsp; 500 |
| U.S. 10-Year Treasury Notes | 8 | Sep-2025 | &nbsp;&nbsp; 888500 | &nbsp;&nbsp; 1687 |
| Ultra 10-Year U.S. Treasury Notes | 1 | Sep-2025 | &nbsp;&nbsp; 113078 | &nbsp;&nbsp; 1074 |
|  |  | &nbsp;&nbsp; Total | &nbsp;&nbsp; $4953000 | &nbsp;&nbsp; $(2066)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust Commercial Mortgage Opportunities ETF (CAAA)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) This
 security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule
 144A of the Securities Act of 1933, as amended, and may be resold in transactions exempt from registration, normally
 to qualified
 institutional buyers. Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to
 be liquid by First Trust Advisors L.P., the Fund's advisor. Although market instability can result in periods of increased overall market
 illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require subjective
 judgment. At July 31, 2025, securities noted as such amounted to $7,519,486 or 41.1% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Collateral
 Strip Rate security. Coupon is based on the weighted net interest rate of the investment's underlying collateral. The interest
 rate resets periodically.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Floating
 or variable rate security.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Weighted
 Average Coupon security. Coupon is based on the blended interest rate of the underlying holdings, which may have different
 coupons. The coupon may change in any period.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Rate
 shown reflects yield as of July 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| CME | – Chicago Mercantile Exchange |
| CSA | – Credit Spread Adjustment |
| IO | – Interest-Only Security - Principal amount shown represents par value on which interest payments are based |
| SOFR | – Secured Overnight Financing Rate |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of July 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total** <br>**Value at** <br>**7/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Mortgage-Backed Securities | $17372365 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $17372365 | &nbsp;&nbsp; $— |
| U.S. Government Agency Mortgage-Backed <br> Securities<br>| 104186 | &nbsp;&nbsp; — | &nbsp;&nbsp; 104186 | &nbsp;&nbsp; — |
| Money Market Funds | 655161 | &nbsp;&nbsp; 655161 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total Investments | 18131712 | &nbsp;&nbsp; 655161 | &nbsp;&nbsp; 17476551 | &nbsp;&nbsp; — |
| Futures Contracts\* | 3261 | &nbsp;&nbsp; 3261 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total | $18134973 | &nbsp;&nbsp; $658422 | &nbsp;&nbsp; $17476551 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total** <br>**Value at** <br>**7/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Futures Contracts\* | $(5327)<br>| &nbsp;&nbsp; $(5327)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Includes cumulative appreciation/depreciation on futures contracts as reported in the Futures Contracts table. Only the current day's variation margin is presented on the Statements of Assets and Liabilities.

See Notes to Financial Statements

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments**

**July 31, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Stated** <br>**Coupon**<br>| **Stated** <br>**Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES — 55.1%** | **MORTGAGE-BACKED SECURITIES — 55.1%** | **MORTGAGE-BACKED SECURITIES — 55.1%** | **MORTGAGE-BACKED SECURITIES — 55.1%** | **MORTGAGE-BACKED SECURITIES — 55.1%** |
|  | **Collateralized Mortgage Obligations — 31.9%** | **Collateralized Mortgage Obligations — 31.9%** | **Collateralized Mortgage Obligations — 31.9%** |  |
|  | BRAVO | BRAVO | BRAVO | BRAVO |
| $255000 | Series 2024-NQM6, Class B1 (a) | 7.30% | 08/01/64 | $257028 |
|  | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust |
| 340000 | Series 2021-HX1, Class B3A (a) (b) | 4.14% | 10/25/66 | 253296 |
|  | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust |
| 289000 | Series 2019-2, Class M1 (a) | 3.47% | 11/25/59 | 270983 |
| 258000 | Series 2024-INV1, Class B2 (a) (b) | 7.52% | 03/25/69 | 257203 |
|  | FARM Mortgage Trust | FARM Mortgage Trust | FARM Mortgage Trust | FARM Mortgage Trust |
| 328555 | Series 2021-1, Class B (a) (b) | 3.23% | 07/25/51 | 253764 |
| 546705 | Series 2024-1, Class B (a) (b) | 5.09% | 10/01/53 | 478976 |
|  | Galton Funding Mortgage Trust | Galton Funding Mortgage Trust | Galton Funding Mortgage Trust | Galton Funding Mortgage Trust |
| 128777 | Series 2018-2, Class B2 (a) | 4.58% | 10/25/58 | 123667 |
|  | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust |
| 1500000 | Series 2022-LTV1, Class A14 (a) | 3.00% | 06/25/52 | 1052838 |
|  | LHOME Mortgage Trust | LHOME Mortgage Trust | LHOME Mortgage Trust | LHOME Mortgage Trust |
| 445000 | Series 2024-RTL2, Class A2, steps up to 10.40% <br> on 10/25/2026 (a) (c) | 8.90% | 03/25/29 | 448443 |
| 255000 | Series 2024-RTL2, Class M, steps up to 13.08% <br> on 10/25/2026 (a) (c) | 11.58% | 03/25/29 | 257953 |
|  | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust |
| 930000 | Series 2021-NQ1R, Class B2 (a) | 4.33% | 07/25/55 | 794056 |
|  | PRPM LLC | PRPM LLC | PRPM LLC | PRPM LLC |
| 325000 | Series 2024-RPL4, Class M2, steps up to 5.00% <br> on 12/25/2028 (a) (c) | 4.00% | 12/25/54 | 285563 |
| 243434 | Series 2025-2, Class A1, steps up to 9.47% on 05/01/2028 (a) (c) | 6.47% | 05/25/30 | 243906 |
| 1000000 | Series 2025-6, Class M1 (a) (d) | 10.56% | 08/25/30 | 987477 |
|  | Redwood Funding Trust | Redwood Funding Trust | Redwood Funding Trust | Redwood Funding Trust |
| 240007 | Series 2025-2, Class A (a) | 7.11% | 10/25/55 | 242900 |
|  | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust |
| 255000 | Series 2024-RTL4, Class A2, steps up to 8.50% <br> on 07/01/2026 (a) (c) | 7.50% | 02/25/30 | 255055 |
|  | Toorak Mortgage Trust | Toorak Mortgage Trust | Toorak Mortgage Trust | Toorak Mortgage Trust |
| 750000 | Series 2024-2, Class A2, steps up to 10.15% <br> on 04/25/2027 (a) (c) | 8.65% | 10/25/31 | 755819 |
|  | Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust |
| 367000 | Series 2021-5, Class B2 (a) | 3.94% | 09/25/66 | 268585 |
| 375000 | Series 2021-R2, Class B2 (a) | 4.26% | 02/25/64 | 284685 |
| 260000 | Series 2024-INV2, Class B2 (a) (b) | 7.96% | 08/26/69 | 261886 |
| 150000 | Series 2025-INV1, Class B1 (a) | 6.95% | 02/25/70 | 150234 |
|  |  |  |  | 8184317 |
|  | **Commercial Mortgage-Backed Securities — 23.2%** | **Commercial Mortgage-Backed Securities — 23.2%** | **Commercial Mortgage-Backed Securities — 23.2%** |  |
|  | BANK | BANK | BANK | BANK |
| 1050576 | Series 2019-BN22, Class XA, IO (b) | 0.58% | 11/15/62 | 22899 |
| 972390 | Series 2019-BN24, Class XA, IO (b) | 0.63% | 11/15/62 | 23766 |
| 7500000 | Series 2021-BN31, Class XB, IO (b) | 0.87% | 02/15/54 | 309570 |
|  | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
| 368000 | Series 2018-TALL, Class A, 1 Mo. CME Term SOFR + CSA + <br> 0.87% (a) (e) | 5.26% | 03/15/37 | 350278 |
| 4999307 | Series 2024-5C25, Class XA, IO (b) | 1.19% | 03/15/57 | 186094 |

---

See Notes to Financial Statements

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
| $4438894 | Series 2024-V6, Class XA, IO (b) | 1.34% | 03/15/57 | $185743 |
|  | BWAY Trust | BWAY Trust | BWAY Trust | BWAY Trust |
| 155000 | Series 2025-1535, Class B (a) (b) | 7.46% | 05/05/42 | 160726 |
|  | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust |
| 275000 | Series 2019-IMC, Class F, 1 Mo. CME Term SOFR + CSA + <br> 2.90% (a) (e) | 7.29% | 04/15/34 | 267098 |
| 400000 | Series 2020-VIVA, Class D (a) (b) | 3.55% | 03/11/44 | 364522 |
|  | BX Trust | BX Trust | BX Trust | BX Trust |
| 700000 | Series 2021-ARIA, Class E, 1 Mo. CME Term SOFR + CSA + <br> 2.25% (a) (e) | 6.70% | 10/15/36 | 699612 |
|  | Cali | Cali | Cali | Cali |
| 300000 | Series 2024-SUN, Class D, 1 Mo. CME Term SOFR + <br> 3.63% (a) (e) | 7.96% | 07/15/41 | 301812 |
|  | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust |
| 7582957 | Series 2017-C8, Class XA, IO (b) | 1.47% | 06/15/50 | 139672 |
|  | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust |
| 285000 | Series 2015-C3, Class B (b) | 3.99% | 08/15/48 | 267314 |
|  | GSMS Trust | GSMS Trust | GSMS Trust | GSMS Trust |
| 395000 | Series 2024-FAIR, Class E (a) (b) | 9.15% | 07/15/29 | 403867 |
|  | Hudson Yards Mortgage Trust | Hudson Yards Mortgage Trust | Hudson Yards Mortgage Trust | Hudson Yards Mortgage Trust |
| 300000 | Series 2019-30HY, Class E (a) (b) | 3.44% | 07/10/39 | 267803 |
|  | MCR Mortgage Trust | MCR Mortgage Trust | MCR Mortgage Trust | MCR Mortgage Trust |
| 300000 | Series 2024-TWA, Class E (a) | 8.73% | 06/12/39 | 302503 |
| 115000 | Series 2024-TWA, Class F (a) | 10.38% | 06/12/39 | 117293 |
|  | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust |
| 11267233 | Series 2019-L2, Class XA, IO (b) | 0.99% | 03/15/52 | 330844 |
|  | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust |
| 320000 | Series 2021-1290, Class D, 1 Mo. CME Term SOFR + CSA + <br> 2.55% (a) (e) | 7.00% | 11/15/38 | 312846 |
|  | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust |
| 500000 | Series 2021-555, Class A, 1 Mo. CME Term SOFR + CSA + <br> 1.15% (a) (e) | 5.61% | 05/15/38 | 498096 |
|  | SHR Trust | SHR Trust | SHR Trust | SHR Trust |
| 250000 | Series 2024-LXRY, Class E, 1 Mo. CME Term SOFR + <br> 4.45% (a) (e) | 8.79% | 10/15/41 | 252163 |
|  | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
| 3385818 | Series 2021-C59, Class XA, IO (b) | 1.49% | 04/15/54 | 205030 |
|  |  |  |  | 5969551 |
|  | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | 14153868 |
|  | (Cost $14,076,397) | (Cost $14,076,397) | (Cost $14,076,397) |  |
| **ASSET-BACKED SECURITIES — 31.7%** | **ASSET-BACKED SECURITIES — 31.7%** | **ASSET-BACKED SECURITIES — 31.7%** | **ASSET-BACKED SECURITIES — 31.7%** | **ASSET-BACKED SECURITIES — 31.7%** |
|  | Apidos CLO XXIX | Apidos CLO XXIX | Apidos CLO XXIX | Apidos CLO XXIX |
| 260000 | Series 2018-29A, Class D2R, 3 Mo. CME Term SOFR + <br> 4.65% (a) (e) | 8.97% | 07/25/38 | 261239 |
|  | CoreVest American Finance Trust | CoreVest American Finance Trust | CoreVest American Finance Trust | CoreVest American Finance Trust |
| 202955 | Series 2021-1, Class A (a) | 1.57% | 04/15/53 | 198008 |
|  | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust |
| 250000 | Series 2024-1A, Class E (a) | 7.89% | 08/15/31 | 262123 |
| 750000 | Series 2025-2A, Class E (a) | 7.81% | 10/15/32 | 777296 |

---

See Notes to Financial Statements

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** |
|  | Exeter Select Automobile Receivables Trust | Exeter Select Automobile Receivables Trust | Exeter Select Automobile Receivables Trust | Exeter Select Automobile Receivables Trust |
| $750000 | Series 2025-1, Class D | 6.14% | 09/15/31 | $769814 |
|  | Flagship Credit Auto Trust | Flagship Credit Auto Trust | Flagship Credit Auto Trust | Flagship Credit Auto Trust |
| 500000 | Series 2024-1, Class E (a) | 8.60% | 05/15/31 | 511982 |
|  | FNA VI LLC | FNA VI LLC | FNA VI LLC | FNA VI LLC |
| 38839 | Series 2021-1A, Class A (a) | 1.35% | 01/10/32 | 36082 |
|  | Hartwick Park CLO Ltd. | Hartwick Park CLO Ltd. | Hartwick Park CLO Ltd. | Hartwick Park CLO Ltd. |
| 310000 | Series 2023-1A, Class DR, 3 Mo. CME Term SOFR + <br> 2.70% (a) (e) | 7.03% | 01/20/37 | 310710 |
|  | Island Finance Trust | Island Finance Trust | Island Finance Trust | Island Finance Trust |
| 650000 | Series 2025-1A, Class B (a) | 7.95% | 03/19/35 | 665033 |
| 300000 | Series 2025-1A, Class C (a) | 10.00% | 03/19/35 | 302470 |
|  | LHOME Mortgage Trust | LHOME Mortgage Trust | LHOME Mortgage Trust | LHOME Mortgage Trust |
| 275000 | Series 2024-RTL3, Class M, steps up to 12.23% <br> on 12/25/2026 (a) (c) | 10.73% | 05/25/29 | 277149 |
|  | Neuberger Berman Loan Advisers CLO 39 Ltd. | Neuberger Berman Loan Advisers CLO 39 Ltd. | Neuberger Berman Loan Advisers CLO 39 Ltd. | Neuberger Berman Loan Advisers CLO 39 Ltd. |
| 250000 | Series 2020-39A, Class ER, 3 Mo. CME Term SOFR + <br> 7.20% (a) (e) | 11.53% | 04/20/38 | 252257 |
|  | OHA Credit Funding 15-R Ltd. | OHA Credit Funding 15-R Ltd. | OHA Credit Funding 15-R Ltd. | OHA Credit Funding 15-R Ltd. |
| 300000 | Series 2023-15RA, Class A, 3 Mo. CME Term SOFR + <br> 1.29% (a) (e) | 5.60% | 07/20/38 | 300825 |
|  | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust |
| 247922 | Series 2024-8, Class D (a) | 6.53% | 01/15/32 | 248861 |
| 299975 | Series 2024-10, Class E (a) | 10.41% | 06/15/32 | 308940 |
| 400000 | Series 2025-5, Class C (a) | 5.64% | 03/15/33 | 400400 |
|  | Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust |
| 150910 | Series 2024-2, Class C (a) | 7.57% | 08/15/31 | 152528 |
| 241078 | Series 2024-3, Class D (a) | 9.00% | 10/15/31 | 243334 |
|  | PRET LLC | PRET LLC | PRET LLC | PRET LLC |
| 300000 | Series 2025-NPL6, Class A2, steps up to 12.72% <br> on 06/25/2029 (a) (c) | 8.72% | 06/25/55 | 298566 |
|  | Rockland Park CLO Ltd. | Rockland Park CLO Ltd. | Rockland Park CLO Ltd. | Rockland Park CLO Ltd. |
| 260000 | Series 2021-1A, Class FR, 3 Mo. CME Term SOFR + <br> 7.82% (a) (e) (f) | 3.85% | 07/20/38 | 260650 |
|  | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust |
| 524126 | Series 2025-NPL1, Class A1, steps up to 10.12% <br> on 12/01/2027 (a) (c) | 7.12% | 01/25/30 | 524329 |
|  | Silver Point CLO 11 Ltd. | Silver Point CLO 11 Ltd. | Silver Point CLO 11 Ltd. | Silver Point CLO 11 Ltd. |
| 275000 | Series 2025-11A, Class F, 3 Mo. CME Term SOFR + <br> 6.93% (a) (e) (f) | 0.00% | 07/15/38 | 277084 |
|  | Silver Point CLO 7 Ltd. | Silver Point CLO 7 Ltd. | Silver Point CLO 7 Ltd. | Silver Point CLO 7 Ltd. |
| 250000 | Series 2024-7A, Class A1, 3 Mo. CME Term SOFR + <br> 1.36% (a) (e) | 5.68% | 01/15/38 | 250734 |
|  | Whitebox CLO V Ltd. | Whitebox CLO V Ltd. | Whitebox CLO V Ltd. | Whitebox CLO V Ltd. |
| 250000 | Series 2025-5A, Class D2, 3 Mo. CME Term SOFR + <br> 4.10% (a) (e) (f) | 0.00% | 07/20/38 | 250957 |
|  | **Total Asset-Backed Securities** | **Total Asset-Backed Securities** | **Total Asset-Backed Securities** | 8141371 |
|  | (Cost $8,038,443) | (Cost $8,038,443) | (Cost $8,038,443) |  |

---

See Notes to Financial Statements

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 6.5%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 6.5%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 6.5%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 6.5%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 6.5%** |
|  | **Collateralized Mortgage Obligations — 4.8%** | **Collateralized Mortgage Obligations — 4.8%** | **Collateralized Mortgage Obligations — 4.8%** |  |
|  | Federal Home Loan Mortgage Corporation |  |  |  |
| $339350 | Series 2024-5460, Class FN, 30 Day Average SOFR + 1.10% (e) | 5.45% | 10/25/54 | $336109 |
|  | Federal National Mortgage Association |  |  |  |
| 84844 | Series 2016-63, Class AF, 30 Day Average SOFR + CSA + <br> 0.50% (e) | 4.96% | 09/25/46 | 82859 |
| 73093 | Series 2024-84, Class FD, 30 Day Average SOFR + 1.15% (e) | 5.50% | 11/25/54 | 72675 |
|  | Government National Mortgage Association |  |  |  |
| 799114 | Series 2025-100, Class JS, (30 Day Average SOFR) ×-2.75+ <br> 15.95% (g) | 3.99% | 06/20/55 | 752795 |
|  |  |  |  | 1244438 |
|  | **Commercial Mortgage-Backed Securities — 1.7%** | **Commercial Mortgage-Backed Securities — 1.7%** | **Commercial Mortgage-Backed Securities — 1.7%** |  |
|  | Federal Home Loan Mortgage Corporation Multiclass Certificates |  |  |  |
| 1500000 | Series 2020-RR07, Class AX, IO (h) | 2.47% | 09/27/28 | 93085 |
|  | Federal Home Loan Mortgage Corporation Multifamily Structured <br> Pass-Through Certificates |  |  |  |
| 940000 | Series K755, Class X3, IO (b) | 5.64% | 02/25/31 | 241660 |
|  | Government National Mortgage Association |  |  |  |
| 1918689 | Series 2024-32, Class IO, IO (b) | 0.70% | 06/16/63 | 94045 |
|  |  |  |  | 428790 |
|  | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | 1673228 |
|  | (Cost $1,682,674) | (Cost $1,682,674) | (Cost $1,682,674) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 11.9%** | **MONEY MARKET FUNDS — 11.9%** | **MONEY MARKET FUNDS — 11.9%** |
| 3049017 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 4.16% (i) | 3049017 |
|  | (Cost $3,049,017) |  |
|  | **Total Investments — 105.2%** | 27017484 |
|  | (Cost $26,846,531) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of** <br>**Contracts**<br>| **Description** | **Notional** <br>**Amount**<br>| **Exercise** <br>**Price**<br>| **Expiration** <br>**Date**<br>| **Value** |
| **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** |
|  | **Call Options Purchased — 0.0%** | **Call Options Purchased — 0.0%** | **Call Options Purchased — 0.0%** | **Call Options Purchased — 0.0%** |  |
| 1 | 3 Month SOFR Futures Call  | $241813 | $96.75 | 12/11/26 | 1000 |
| 4 | U.S. 10-Year Treasury Futures Call  | 444250 | 114.00 | 11/21/25 | 1750 |
| 2 | U.S. 10-Year Treasury Futures Call  | 222125 | 114.50 | 11/21/25 | 719 |
|  | **Total Call Options Purchased** | **Total Call Options Purchased** | **Total Call Options Purchased** | **Total Call Options Purchased** | 3469 |
|  | (Cost $3,856) | (Cost $3,856) | (Cost $3,856) | (Cost $3,856) |  |
|  | **Put Options Purchased — 0.0%** | **Put Options Purchased — 0.0%** | **Put Options Purchased — 0.0%** | **Put Options Purchased — 0.0%** |  |
| 1 | 3 Month SOFR Futures Put  | 241813 | 96.75 | 12/11/26 | 1062 |
| 4 | U.S. 10-Year Treasury Futures Put  | 444250 | 107.00 | 11/21/25 | 1000 |
| 2 | U.S. 10-Year Treasury Futures Put  | 222125 | 107.50 | 11/21/25 | 625 |

---

See Notes to Financial Statements

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of**<br> **Contracts**<br>| **Description** | **Notional**<br> **Amount**<br>| **Exercise**<br> **Price**<br>| **Expiration**<br> **Date**<br>| **Value** |
| **PURCHASED OPTIONS (Continued)** | **PURCHASED OPTIONS (Continued)** | **PURCHASED OPTIONS (Continued)** | **PURCHASED OPTIONS (Continued)** | **PURCHASED OPTIONS (Continued)** | **PURCHASED OPTIONS (Continued)** |
|  | **Put Options Purchased (Continued)** | **Put Options Purchased (Continued)** | **Put Options Purchased (Continued)** | **Put Options Purchased (Continued)** |  |
| 2 | U.S. Treasury Long Bond Futures Put  | $228375 | $95.00 | 08/22/25 | $0 |
| 2 | U.S. Treasury Long Bond Futures Put  | 227625 | 95.00 | 11/21/25 | 250 |
|  | **Total Put Options Purchased** | **Total Put Options Purchased** | **Total Put Options Purchased** | **Total Put Options Purchased** | 2937 |
|  | (Cost $4,026) | (Cost $4,026) | (Cost $4,026) | (Cost $4,026) |  |
|  | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | 6406 |
|  | (Cost $7,882) | (Cost $7,882) | (Cost $7,882) | (Cost $7,882) |  |
|  | **Net Other Assets and Liabilities — (5.2)%** | **Net Other Assets and Liabilities — (5.2)%** | **Net Other Assets and Liabilities — (5.2)%** | **Net Other Assets and Liabilities — (5.2)%** | (1339844)<br>|
|  | **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | $25684046 |

---

**Futures Contracts at July 31, 2025** (See Note 2D - Futures Contracts in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Long** | **Number of** <br>**Contracts**<br>| **Expiration** <br>**Date**<br>| **Notional** <br>**Value**<br>| **Unrealized** <br>**Appreciation** <br>**(Depreciation)/** <br>**Value**<br>|
| U.S. 2-Year Treasury Notes | 13 | Sep-2025 | &nbsp;&nbsp; $2690797 | &nbsp;&nbsp; $(2906)<br>|
| U.S. 5-Year Treasury Notes | 27 | Sep-2025 | &nbsp;&nbsp; 2920641 | &nbsp;&nbsp; (86)<br>|
| U.S. 10-Year Treasury Notes | 22 | Sep-2025 | &nbsp;&nbsp; 2443375 | &nbsp;&nbsp; 5765 |
| Ultra 10-Year U.S. Treasury Notes | 10 | Sep-2025 | &nbsp;&nbsp; 1130781 | &nbsp;&nbsp; 1824 |
|  |  |  | &nbsp;&nbsp; $9185594 | &nbsp;&nbsp; $4597 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Short** |  |  |  |  |
| U.S. Treasury Long Bond Futures | 22 | Sep-2025 | &nbsp;&nbsp; $(2512125)<br>| &nbsp;&nbsp; $(33180)<br>|
| Ultra U.S. Treasury Bond Futures | 7 | Sep-2025 | &nbsp;&nbsp; (821188)<br>| &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; $(3333313)<br>| &nbsp;&nbsp; $(33180)<br>|
|  |  | &nbsp;&nbsp; Total | &nbsp;&nbsp; $5852281 | &nbsp;&nbsp; $(28583)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) This
 security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule
 144A of the Securities Act of 1933, as amended, and may be resold in transactions exempt from registration, normally
 to qualified
 institutional buyers. Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to
 be liquid by First Trust Advisors L.P. (the "Advisor"). Although market instability can result in periods of increased overall market
 illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require subjective
 judgment. At July 31, 2025, securities noted as such amounted to $19,854,493 or 77.3% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Collateral
 Strip Rate security. Coupon is based on the weighted net interest rate of the investment's underlying collateral. The interest
 rate resets periodically.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Step-up
 security. A security where the coupon increases or steps up at a predetermined date.

&nbsp;&nbsp;&nbsp;&nbsp;(d) This
 security is fair valued by the Advisor's Pricing Committee in accordance with procedures approved by the Trust's Board of Trustees,
 and in accordance with provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At July
 31, 2025, securities noted as such are valued at $987,477 or 3.8% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Floating
 or variable rate security.

&nbsp;&nbsp;&nbsp;&nbsp;(f) When-issued
 security. The interest rate shown reflects the rate in effect at July 31, 2025. Interest will begin accruing on the security's
 first settlement date.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Inverse
 floating rate security.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Weighted
 Average Coupon security. Coupon is based on the blended interest rate of the underlying holdings, which may have different
 coupons. The coupon may change in any period.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Rate
 shown reflects yield as of July 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Financial Statements

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments (Continued)**

**July 31, 2025**

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| CME | – Chicago Mercantile Exchange |
| CSA | – Credit Spread Adjustment |
| IO | – Interest-Only Security - Principal amount shown represents par value on which interest payments are based |
| SOFR | – Secured Overnight Financing Rate |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of July 31, 2025 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total** <br>**Value at** <br>**7/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Mortgage-Backed Securities | $14153868 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $14153868 | &nbsp;&nbsp; $— |
| Asset-Backed Securities | 8141371 | &nbsp;&nbsp; — | &nbsp;&nbsp; 8141371 | &nbsp;&nbsp; — |
| U.S. Government Agency Mortgage-Backed <br> Securities<br>| 1673228 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1673228 | &nbsp;&nbsp; — |
| Money Market Funds | 3049017 | &nbsp;&nbsp; 3049017 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total Investments | 27017484 | &nbsp;&nbsp; 3049017 | &nbsp;&nbsp; 23968467 | &nbsp;&nbsp; — |
| Purchased Options | 6406 | &nbsp;&nbsp; 6406 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Futures Contracts\* | 7589 | &nbsp;&nbsp; 7589 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total | $27031479 | &nbsp;&nbsp; $3063012 | &nbsp;&nbsp; $23968467 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total** <br>**Value at** <br>**7/31/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Futures Contracts\* | $(36172)<br>| &nbsp;&nbsp; $(36172)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Includes cumulative appreciation/depreciation on futures contracts as reported in the Futures Contracts table. Only the current day's variation margin is presented on the Statements of Assets and Liabilities.

See Notes to Financial Statements

------

This page intentionally left blank.

------

**First Trust Exchange-Traded Fund IV**

**Statements of Assets and Liabilities**

**July 31, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **First Trust Core** <br> **Investment** <br> **Grade ETF** <br>**(FTCB)** <br>| **First Trust** <br> **Commercial** <br> **Mortgage** <br> **Opportunities** <br> **ETF** <br>**(CAAA)** <br>| **First Trust** <br> **Structured** <br> **Credit Income** <br> **Opportunities** <br> **ETF** <br>**(SCIO)** <br>|
| **ASSETS:** |  |  |  |
| Investments, at value - Unaffiliated | $1342555008 | &nbsp;&nbsp; $18131712 | &nbsp;&nbsp; $27017484 |
| Investments, at value - Affiliated | 406700 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total investments, at value | 1342961708 | &nbsp;&nbsp; 18131712 | &nbsp;&nbsp; 27017484 |
| Options contracts purchased, at value | 27609 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6406 |
| Cash |  | &nbsp;&nbsp; — | &nbsp;&nbsp; 996277 |
| Cash segregated as collateral | 185781 | &nbsp;&nbsp; 42934 | &nbsp;&nbsp; 58002 |
| Receivables: |  |  |  |
| Investment securities sold | 101853720 | &nbsp;&nbsp; — | &nbsp;&nbsp; 235546 |
| Interest | 9289257 | &nbsp;&nbsp; 115944 | &nbsp;&nbsp; 130890 |
| Dividends | 121135 | &nbsp;&nbsp; 3113 | &nbsp;&nbsp; 6821 |
| Total Assets | 1454439210 | &nbsp;&nbsp; 18293703 | &nbsp;&nbsp; 28451426 |
| **LIABILITIES:** |  |  |  |
| Investments sold short, at value | 7180356 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Options contracts written, at value | 1796177 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Payables: |  |  |  |
| Investment securities purchased | 171668613 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2748411 |
| Investment advisory fees | 577664 | &nbsp;&nbsp; 6842 | &nbsp;&nbsp; 13508 |
| Variation margin | 49781 | &nbsp;&nbsp; 602 | &nbsp;&nbsp; 5461 |
| Total Liabilities | 181272591 | &nbsp;&nbsp; 7444 | &nbsp;&nbsp; 2767380 |
| **NET ASSETS** | $1273166619 | &nbsp;&nbsp; $18286259 | &nbsp;&nbsp; $25684046 |
| **NET ASSETS consist of:** |  |  |  |
| Paid-in capital | $1264688837 | &nbsp;&nbsp; $18087217 | &nbsp;&nbsp; $25370843 |
| Par value | 609500 | &nbsp;&nbsp; 9000 | &nbsp;&nbsp; 12500 |
| Accumulated distributable earnings (loss) | 7868282 | &nbsp;&nbsp; 190042 | &nbsp;&nbsp; 300703 |
| **NET ASSETS** | $1273166619 | &nbsp;&nbsp; $18286259 | &nbsp;&nbsp; $25684046 |
| **NET ASSET VALUE,** per share | $20.89 | &nbsp;&nbsp; $20.32 | &nbsp;&nbsp; $20.55 |
| Number of shares outstanding (unlimited number of shares authorized, <br> par value $0.01 per share)<br>| 60950002 | &nbsp;&nbsp; 900002 | &nbsp;&nbsp; 1250002 |
| Investments, at cost - Unaffiliated | $1334981240 | &nbsp;&nbsp; $18001981 | &nbsp;&nbsp; $26846531 |
| Investments, at cost - Affiliated | $407187 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| Total investments, at cost | $1335388427 | &nbsp;&nbsp; $18001981 | &nbsp;&nbsp; $26846531 |
| Premiums paid on options contracts purchased | $27993 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7882 |
| Investments sold short, proceeds | $7191984 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| Premiums received on options contracts written | $2716438 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |

---

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund IV**

**Statements of Operations**

**For the Year Ended July 31, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **First Trust Core** <br> **Investment** <br> **Grade ETF** <br>**(FTCB)** <br>| **First Trust** <br> **Commercial** <br> **Mortgage** <br> **Opportunities** <br> **ETF** <br>**(CAAA)** <br>| **First Trust** <br> **Structured** <br> **Credit Income** <br> **Opportunities** <br> **ETF** <br>**(SCIO)** <br>|
| **INVESTMENT INCOME:** |  |  |  |
| Interest | $25303285 | &nbsp;&nbsp; $819806 | &nbsp;&nbsp; $1153315 |
| Dividends - Unaffiliated | 687070 | &nbsp;&nbsp; 20504 | &nbsp;&nbsp; 23920 |
| Dividends - Affiliated |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total investment income | 25990355 | &nbsp;&nbsp; 840310 | &nbsp;&nbsp; 1177235 |
| **EXPENSES:** |  |  |  |
| Investment advisory fees | 2817021<br>| &nbsp;&nbsp; 78749<br>| &nbsp;&nbsp; 130237<br>|
| Excise tax expense |  | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; — |
| Total expenses | 2817021 | &nbsp;&nbsp; 79949 | &nbsp;&nbsp; 130237 |
| **NET INVESTMENT INCOME (LOSS)** | 23173334 | &nbsp;&nbsp; 760361 | &nbsp;&nbsp; 1046998 |
| **NET REALIZED AND UNREALIZED GAIN (LOSS):** |  |  |  |
| Net realized gain (loss) on: |  |  |  |
| Investments - Unaffiliated | (1068663)<br>| &nbsp;&nbsp; 152826 | &nbsp;&nbsp; 152221 |
| Investments - Affiliated |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Investments sold short | 350119 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Purchased options contracts | (200221)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Written options contracts | 2523162 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Futures contracts | (1582576)<br>| &nbsp;&nbsp; (10532)<br>| &nbsp;&nbsp; 23812 |
| Net realized gain (loss) | 21821 | &nbsp;&nbsp; 142294 | &nbsp;&nbsp; 176033 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |
| Investments - Unaffiliated | 6912850 | &nbsp;&nbsp; (59039)<br>| &nbsp;&nbsp; (29025)<br>|
| Investments - Affiliated | (487)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Investments sold short | 15328 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Purchased options contracts | (986)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1476)<br>|
| Written options contracts | 906146 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Futures contracts | 95431 | &nbsp;&nbsp; (30025)<br>| &nbsp;&nbsp; (50997)<br>|
| Net change in unrealized appreciation (depreciation) | 7928282 | &nbsp;&nbsp; (89064)<br>| &nbsp;&nbsp; (81498)<br>|
| **NET REALIZED AND UNREALIZED GAIN (LOSS)** | 7950103 | &nbsp;&nbsp; 53230 | &nbsp;&nbsp; 94535 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING** <br> **FROM OPERATIONS**<br>| $31123437 | &nbsp;&nbsp; $813591 | &nbsp;&nbsp; $1141533 |

---

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund IV**

**Statements of Changes in Net Assets** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **First Trust Core Investment** <br> **Grade ETF (FTCB)** | **First Trust Core Investment** <br> **Grade ETF (FTCB)** | **First Trust Commercial Mortgage** <br> **Opportunities ETF (CAAA)** | **First Trust Commercial Mortgage** <br> **Opportunities ETF (CAAA)** |
|  | **Year** <br>**Ended** <br>**7/31/2025** <br>| **Period** <br>**Ended** <br>**7/31/2024 (a)**<br>| **Year** <br>**Ended** <br>**7/31/2025** <br>| **Period** <br>**Ended** <br>**7/31/2024 (b)**<br>|
| **OPERATIONS:** |  |  |  |  |
| Net investment income (loss) | $23173334 | &nbsp;&nbsp; $509456 | &nbsp;&nbsp; $760361 | &nbsp;&nbsp; $271525 |
| Net realized gain (loss) | 21821 | &nbsp;&nbsp; 161520 | &nbsp;&nbsp; 142294 | &nbsp;&nbsp; 5012 |
| Net increase from payment by the advisor |  | &nbsp;&nbsp; 195 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Net change in unrealized appreciation (depreciation) | 7928282 | &nbsp;&nbsp; 734207 | &nbsp;&nbsp; (89064)<br>| &nbsp;&nbsp; 216729 |
| Net increase (decrease) in net assets resulting from <br> operations<br>| 31123437 | &nbsp;&nbsp; 1405378 | &nbsp;&nbsp; 813591 | &nbsp;&nbsp; 493266 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |
| Investment operations | (24184002)<br>| &nbsp;&nbsp; (478126)<br>| &nbsp;&nbsp; (874253)<br>| &nbsp;&nbsp; (243750)<br>|
| **SHAREHOLDER TRANSACTIONS:** |  |  |  |  |
| Proceeds from shares sold | 1241959124<br>| &nbsp;&nbsp; 23340808<br>| &nbsp;&nbsp; 8159133<br>| &nbsp;&nbsp; 15011290<br>|
| Cost of shares redeemed | —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (5073018) <br>| &nbsp;&nbsp; —<br>|
| Net increase (decrease) in net assets resulting from <br> shareholder transactions<br>| 1241959124 | &nbsp;&nbsp; 23340808 | &nbsp;&nbsp; 3086115 | &nbsp;&nbsp; 15011290 |
| Total increase (decrease) in net assets | 1248898559 | &nbsp;&nbsp; 24268060 | &nbsp;&nbsp; 3025453 | &nbsp;&nbsp; 15260806 |
| **NET ASSETS:** |  |  |  |  |
| Beginning of period | 24268060 | &nbsp;&nbsp; — | &nbsp;&nbsp; 15260806 | &nbsp;&nbsp; — |
| End of period | $1273166619 | &nbsp;&nbsp; $24268060 | &nbsp;&nbsp; $18286259 | &nbsp;&nbsp; $15260806 |
| **CHANGES IN SHARES OUTSTANDING:** |  |  |  |  |
| Shares outstanding, beginning of period | 1150002 | &nbsp;&nbsp; — | &nbsp;&nbsp; 750002 | &nbsp;&nbsp; — |
| Shares sold | 59800000 | &nbsp;&nbsp; 1150002 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 750002 |
| Shares redeemed |  | &nbsp;&nbsp; — | &nbsp;&nbsp; (250000)<br>| &nbsp;&nbsp; — |
| Shares outstanding, end of period | 60950002 | &nbsp;&nbsp; 1150002 | &nbsp;&nbsp; 900002 | &nbsp;&nbsp; 750002 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Inception
 date is November 7, 2023, which is consistent with the commencement of investment operations and is the date the initial
 creation units were established.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Inception
 date is February 27, 2024, which is consistent with the commencement of investment operations and is the date the initial
 creation units were established.

See Notes to Financial Statements

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **First Trust Structured Credit** <br> **Income Opportunities ETF** <br> **(SCIO)** | **First Trust Structured Credit** <br> **Income Opportunities ETF** <br> **(SCIO)** |
| **Year** <br>**Ended** <br>**7/31/2025** <br>| **Period** <br>**Ended** <br>**7/31/2024 (b)**<br>|
| $1046998 | &nbsp;&nbsp; $336229 |
| 176033 | &nbsp;&nbsp; 24902 |
| (81498)<br>| &nbsp;&nbsp; 222392 |
| 1141533 | &nbsp;&nbsp; 583523 |
| (1128103)<br>| &nbsp;&nbsp; (296250)<br>|
| 16469221<br>| &nbsp;&nbsp; 15022540<br>|
| (6108418) <br>| &nbsp;&nbsp; —<br>|
| 10360803 | &nbsp;&nbsp; 15022540 |
| 10374233 | &nbsp;&nbsp; 15309813 |
| 15309813 | &nbsp;&nbsp; — |
| $25684046 | &nbsp;&nbsp; $15309813 |
| 750002 | &nbsp;&nbsp; — |
| 800000 | &nbsp;&nbsp; 750002 |
| (300000)<br>| &nbsp;&nbsp; — |
| 1250002 | &nbsp;&nbsp; 750002 |

---

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund IV**

**Financial Highlights**

**For a share outstanding throughout each period**

**First Trust Core Investment Grade ETF (FTCB)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Year** <br>**Ended** <br>**7/31/2025** | **Period** <br>**Ended** <br>**7/31/2024 (a)** |
|  | **Year** <br>**Ended** <br>**7/31/2025** | **Period** <br>**Ended** <br>**7/31/2024 (a)** |
| Net asset value, beginning of period | $21.10 | &nbsp;&nbsp;&nbsp;&nbsp; $20.00 |
| **Income from investment operations:** |  |  |
| Net investment income (loss) (b) | 0.93<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.67<br>|
| Net realized and unrealized gain (loss) | (0.08) (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.07<br> (d)<br>|
| Total from investment operations | 0.85<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.74<br>|
| **Distributions paid to shareholders from:** |  |  |
| Net investment income | (1.01) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.64) <br>|
| Net realized gain | (0.05) <br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Total distributions | (1.06) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.64) <br>|
| Net asset value, end of period | $20.89<br>| &nbsp;&nbsp;&nbsp;&nbsp; $21.10<br>|
| **Total return** (e) | 4.13<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.77<br> % (d)<br>|
| **Ratios to average net assets/supplemental data:** |  |  |
| Net assets, end of period (in 000's) | $1273167<br>| &nbsp;&nbsp;&nbsp;&nbsp; $24268<br>|
| Ratio of total expenses to average net assets | 0.55<br> % (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56<br> % (g) (h)<br>|
| Ratio of net investment income (loss) to average net assets | 4.52<br> % (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.46<br> % (g)<br>|
| Portfolio turnover rate (i) | 183<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 212<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Inception
 date is November 7, 2023, which is consistent with the commencement of investment operations and is the date the initial creation units
 were established.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(c) The
 per share amount does not correlate with the aggregate realized and unrealized gain (loss) due to the timing of the Fund share sales and repurchases
 in relation to market value fluctuation of the underlying investments.

&nbsp;&nbsp;&nbsp;&nbsp;(d) The
 Fund received a reimbursement from the advisor in the amount of $195, which represents less than $0.01 per share. Since the advisor reimbursed
 the Fund, there was no effect on the Fund's total return.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Total
 return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions
 at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect
 the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated
 for the time period presented and is not annualized for periods of less than a year.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Ratio
 of total expenses to average net assets and ratio of net investment income (loss) to average net assets do not reflect the Fund's proportionate
 share of expenses and income of underlying investment companies in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Includes
 excise tax. If this excise tax expense was not included, the expense ratio would have been 0.55%.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Portfolio
 turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received
 or delivered from processing creations or redemptions and in-kind transactions.

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund IV**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Commercial Mortgage Opportunities ETF (CAAA)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Year** <br>**Ended** <br>**7/31/2025** | **Period** <br>**Ended** <br>**7/31/2024 (a)** |
|  | **Year** <br>**Ended** <br>**7/31/2025** | **Period** <br>**Ended** <br>**7/31/2024 (a)** |
| Net asset value, beginning of period | $20.35 | &nbsp;&nbsp;&nbsp;&nbsp; $20.00 |
| **Income from investment operations:** |  |  |
| Net investment income (loss) (b) | 1.06<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br>|
| Net realized and unrealized gain (loss) | 0.15<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br>|
| Total from investment operations | 1.21<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.68<br>|
| **Distributions paid to shareholders from:** |  |  |
| Net investment income | (1.24) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.33) <br>|
| Net asset value, end of period | $20.32<br>| &nbsp;&nbsp;&nbsp;&nbsp; $20.35<br>|
| **Total return** (c) | 6.08<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.41<br> % <br>|
| **Ratios to average net assets/supplemental data:** |  |  |
| Net assets, end of period (in 000's) | $18286<br>| &nbsp;&nbsp;&nbsp;&nbsp; $15261<br>|
| Ratio of total expenses to average net assets | 0.55<br> % (d) (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55<br> % (f)<br>|
| Ratio of net investment income (loss) to average net assets | 5.21<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.28<br> % (f)<br>|
| Portfolio turnover rate (g) | 92<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 97<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Inception
 date is February 27, 2024, which is consistent with the commencement of investment operations and is the date the initial creation units
 were established.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Total
 return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions
 at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect
 the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated
 for the time period presented and is not annualized for periods of less than a year.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Ratio
 of total expenses to average net assets and ratio of net investment income (loss) to average net assets do not reflect the Fund's proportionate
 share of expenses and income of underlying investment companies in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Includes
 excise tax. If this excise tax expense was not included, the expense ratio would have been 0.54%.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Portfolio
 turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received
 or delivered from processing creations or redemptions and in-kind transactions.

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund IV**

**Financial Highlights (Continued)** 

**For a share outstanding throughout each period**

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Year** <br>**Ended** <br>**7/31/2025** | **Period** <br>**Ended** <br>**7/31/2024 (a)** |
|  | **Year** <br>**Ended** <br>**7/31/2025** | **Period** <br>**Ended** <br>**7/31/2024 (a)** |
| Net asset value, beginning of period | $20.41 | &nbsp;&nbsp;&nbsp;&nbsp; $20.00 |
| **Income from investment operations:** |  |  |
| Net investment income (loss) (b) | 1.54<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.45<br>|
| Net realized and unrealized gain (loss) | 0.20<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br>|
| Total from investment operations | 1.74<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.81<br>|
| **Distributions paid to shareholders from:** |  |  |
| Net investment income | (1.58) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.40) <br>|
| Net realized gain | (0.02) <br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Total distributions | (1.60) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.40) <br>|
| Net asset value, end of period | $20.55<br>| &nbsp;&nbsp;&nbsp;&nbsp; $20.41<br>|
| **Total return** (c) | 8.85<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.06<br> % <br>|
| **Ratios to average net assets/supplemental data:** |  |  |
| Net assets, end of period (in 000's) | $25684<br>| &nbsp;&nbsp;&nbsp;&nbsp; $15310<br>|
| Ratio of total expenses to average net assets | 0.94<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.95<br> % (e)<br>|
| Ratio of net investment income (loss) to average net assets | 7.55<br> % (d)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.27<br> % (e)<br>|
| Portfolio turnover rate (f) | 100<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 116<br> % <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Inception
 date is February 27, 2024, which is consistent with the commencement of investment operations and is the date the initial creation units
 were established.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Based
 on average shares outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Total
 return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions
 at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect
 the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated
 for the time period presented and is not annualized for periods of less than a year.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Ratio
 of total expenses to average net assets and ratio of net investment income (loss) to average net assets do not reflect the Fund's proportionate
 share of expenses and income of underlying investment companies in which the Fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Portfolio
 turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received
 or delivered from processing creations or redemptions and in-kind transactions.

See Notes to Financial Statements

------

**Notes to Financial Statements**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**1. Organization**

First Trust Exchange-Traded Fund IV (the "Trust") is an open-end management investment company organized as a Massachusetts business trust on September 15, 2010, and is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the "1940 Act").

This report covers the three funds (each a "Fund" and collectively, the "Funds") listed below, each a non-diversified series of the Trust. The shares of each Fund are listed and traded on the NYSE Arca, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

First Trust Core Investment Grade ETF – (ticker "FTCB") <br> First Trust Commercial Mortgage Opportunities ETF – (ticker "CAAA") <br> First Trust Structured Credit Income Opportunities ETF – (ticker "SCIO")

Each Fund represents a separate series of shares of beneficial interest in the Trust. Unlike conventional mutual funds, each Fund issues and redeems shares on a continuous basis, at net asset value ("NAV"), only in large blocks of shares known as "Creation Units."

Each Fund is an actively managed exchange-traded fund ("ETF"). FTCB and CAAA's investment objective seeks to maximize long-term total return. SCIO's investment objective seeks to maximize long-term income.

Under normal market conditions, FTCB seeks to invest 100% of its Investment Portfolio in investment grade securities. Investment grade securities are those securities that are, at the time of purchase, rated as investment grade (i.e., rated Baa3/BBB- or above) by at least one nationally recognized statistical rating organization ("NRSRO") rating such securities, or if unrated, debt securities determined by the Fund's investment advisor to be of comparable quality. The Fund's Investment Portfolio includes only investment grade securities purchased by the Fund's portfolio managers (the "Investment Portfolio") and does not include uninvested cash or any other Fund asset unconnected to the Fund's intended portfolio, including, but not limited to, accounts receivable or assets received as part of an issuer workout.

Under normal market conditions, CAAA will invest at least 80% of its net assets (plus any borrowings for investment purposes) in commercial mortgage-backed securities.

Under normal market conditions, SCIO will invest at least 80% of its net assets (plus any borrowings for investment purposes) in structured credit investments.

There can be no assurance that a Fund will achieve its investment objective. The Funds may not be appropriate for all investors.

**2. Significant Accounting Policies** 

The Funds are each considered an investment company and follow accounting and reporting guidance under Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, "Financial Services-Investment Companies." The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of the financial statements. The preparation of the financial statements in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.

**A. Portfolio Valuation**

Each Fund's NAV is determined daily as of the close of regular trading on the New York Stock Exchange ("NYSE"), normally 4:00 p.m. Eastern time, on each day the NYSE is open for trading. If the NYSE closes early on a valuation day, the NAV is determined as of that time. Domestic debt securities and foreign securities are priced using data reflecting the earlier closing of the principal markets for those securities. Each Fund's NAV is calculated by dividing the value of all assets of each Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of shares outstanding.

Each Fund's investments are valued daily at market value or, in the absence of market value with respect to any portfolio securities, at fair value. Market value prices represent readily available market quotations such as last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. Fair value prices represent any prices not considered market value prices and are either obtained from a third-party pricing service or are determined by the Pricing Committee of the Funds' investment advisor, First Trust Advisors L.P. ("First Trust" or the "Advisor"), in accordance with

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025**

valuation procedures approved by the Trust's Board of Trustees, and in accordance with provisions of the 1940 Act and rules thereunder. Investments valued by the Advisor's Pricing Committee, if any, are footnoted as such in the footnotes to the Portfolio of Investments. Each Fund's investments are valued as follows:

Corporate bonds, corporate notes, U.S. government securities, mortgage-backed securities, asset-backed securities, municipal securities, and other debt securities are fair valued on the basis of valuations provided by a third-party pricing service approved by the Advisor's Pricing Committee, which may use the following valuation inputs when available:

1)

benchmark yields;

2)

reported trades;

3)

broker/dealer quotes;

4)

issuer spreads;

5)

benchmark securities;

6)

bids and offers; and

7)

reference data including market research publications.

Pricing services generally value fixed-income securities assuming orderly transactions of an institutional round lot size, but a Fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots.

ETFs and other equity securities listed on any national or foreign exchange (excluding Nasdaq, Inc. ("Nasdaq") and the London Stock Exchange Alternative Investment Market ("AIM")) are valued at the last sale price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price. Securities traded on more than one securities exchange are valued at the last sale price or official closing price, as applicable, at the close of the securities exchange representing the primary exchange for such securities.

Shares of open-end funds are valued based on NAV per share.

Exchange-traded futures contracts are valued at the end of the day settlement price.

Exchange-traded options contracts are valued at the closing price in the market where such contracts are principally traded. If no closing price is available, exchange-traded options contracts are valued at the mean of their most recent bid and ask price, if both are available. Options contracts traded in the over-the-counter market may be valued as follows, depending on the market in which the investment trades: (1) the mean of the most recent bid and ask price, if available; or (2) a price based on the equivalent exchange-traded option.

Fixed income and other debt securities having a remaining maturity of sixty days or less when purchased are fair valued at cost adjusted for amortization of premiums and accretion of discounts (amortized cost), provided the Advisor's Pricing Committee has determined that the use of amortized cost is an appropriate reflection of fair value given market and issuer-specific conditions existing at the time of the determination. Factors that may be considered in determining the appropriateness of the use of amortized cost include, but are not limited to, the following:

1)

the credit conditions in the relevant market and changes thereto;

2)

the liquidity conditions in the relevant market and changes thereto;

3)

the interest rate conditions in the relevant market and changes thereto (such as significant changes in interest rates);

4)

issuer-specific conditions (such as significant credit deterioration); and

5)

any other market-based data the Advisor's Pricing Committee considers relevant. In this regard, the Advisor's Pricing Committee may use last-obtained market-based data to assist it when valuing portfolio securities using amortized cost.

Certain securities may not be able to be priced by pre-established pricing methods. Such securities may be valued by the Advisor's Pricing Committee at fair value. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933, as amended) for which a third-party pricing service is unable to provide a market price; securities whose trading has been formally suspended; a security whose market or fair value price is not available from a pre-established pricing source; a security with respect to which an event has occurred that is likely to materially affect the value of the security after the market has closed but before the calculation of a Fund's NAV or make it difficult or impossible to obtain a reliable market quotation; and a security whose price, as provided by the third-party pricing service, does not

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025**

reflect the security's fair value. As a general principle, the current fair value of a security would appear to be the amount which the owner might reasonably expect to receive for the security upon its current sale. When fair value prices are used, generally they will differ from market quotations or official closing prices on the applicable exchanges. A variety of factors may be considered in determining the fair value of such securities, including, but not limited to, the following:

1)

the most recent price provided by a pricing service;

2)

available market prices for the fixed-income security;

3)

the fundamental business data relating to the borrower/issuer;

4)

an evaluation of the forces which influence the market in which these securities are purchased and sold;

5)

the type, size and cost of a security;

6)

the financial statements of the borrower/issuer or the financial condition of the country of issue;

7)

the credit quality and cash flow of the borrower/issuer, or country of issue, based on the Pricing Committee's, sub-advisor's or portfolio manager's analysis, as applicable, or external analysis;

8)

the information as to any transactions in or offers for the security;

9)

the price and extent of public trading in similar securities of the borrower/issuer, or comparable companies;

10)

the coupon payments;

11)

the quality, value and salability of collateral, if any, securing the security;

12)

the business prospects of the borrower/issuer, including any ability to obtain money or resources from a parent or affiliate and an assessment of the borrower's/issuer's management (for corporate debt only);

13)

the prospects for the borrower's/issuer's industry, and multiples (of earnings and/or cash flows) being paid for similar businesses in that industry (for corporate debt only); and

14)

other relevant factors.

The Funds are subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following:

o Quoted prices for similar investments in active markets.

o Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly.

o Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates).

o Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity's own assumptions about the assumptions that market participants would use in pricing the investment.

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments. A summary of the inputs used to value each Fund's investments as of July 31, 2025, is included with each Fund's Portfolio of Investments.

**B. Securities Transactions and Investment Income**

Securities transactions are recorded as of the trade date. Realized gains and losses from securities transactions are recorded on the identified cost basis. Dividend income is recorded on the ex-dividend date. Interest income is recorded daily on the accrual basis. Amortization of premiums and accretion of discounts are recorded using the effective interest method.

The Funds invest in interest-only securities. For these securities, if there is a change in the estimated cash flows, based on an evaluation of current information, then the estimated yield is adjusted. Additionally, if the evaluation of current information indicates a permanent impairment of the security, the cost basis of the security is written down and a loss is recognized. Debt obligations may be placed on non-accrual status and the related interest income may be reduced by ceasing current accruals and writing off interest

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025**

receivables when the collection of all or a portion of interest has become doubtful based on consistently applied procedures. A debt obligation is removed from non-accrual status when the issuer resumes interest payments or when collectability of interest is reasonably assured.

Securities purchased or sold on a when-issued, delayed-delivery or forward purchase commitment basis may have extended settlement periods. The value of the security so purchased is subject to market fluctuations during this period. Each Fund maintains liquid assets with a current value at least equal to the amount of its when-issued, delayed-delivery or forward purchase commitments until payment is made. At July 31, 2025, FTCB and SCIO held $5,733,170 and $788,691, respectively, of when-issued or delayed-delivery securities. At July 31, 2025, FTCB held $36,271,592 of forward purchase commitments and $1,798,540 of forward purchase commitments sold short.

**C. Short Sales**

Short sales are utilized to manage interest rate and spread risk, and are transactions in which securities or other instruments (such as options, forwards, futures or other derivative contracts) are sold that are not currently owned in a Fund's portfolio. When a Fund engages in a short sale, a Fund must borrow the security sold short and deliver the security to the counterparty. Short selling allows a Fund to profit from a decline in a market price to the extent such decline exceeds the transaction costs and the costs of borrowing the securities. A Fund is charged a fee or premium to borrow the securities sold short and is obligated to repay the lenders of the securities. Any dividends or interest that accrues on the securities during the period of the loan are due to the lenders. A gain, limited to the price at which the security was sold short, or a loss, unlimited in size, will be recognized upon the termination of the short sale; which is effected by a Fund purchasing the security sold short and delivering the security to the lender. Any such gain or loss may be offset, completely or in part, by the change in the value of the long portion of a Fund's portfolio. A Fund is subject to the risk it may be unable to reacquire a security to terminate a short position except at a price substantially in excess of the last quoted price. Also, there is the risk that the counterparty to a short sale may fail to honor its contractual terms, causing a loss to a Fund.

**D. Futures Contracts**

Each Fund may purchase or sell (i.e., is long or short) exchange-listed futures contracts to hedge against or gain exposure to changes in interest rates (interest rate risk). Futures contracts are agreements between a Fund and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and at a specified date. Depending on the terms of the contract, futures contracts are settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash settlement amount on the settlement date. Open futures contracts can also be closed out prior to settlement by entering into an offsetting transaction in a matching futures contract. If a Fund is not able to enter into an offsetting transaction, a Fund will continue to be required to maintain margin deposits on the futures contract. When the contract is closed or expires, a Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed or expired. This gain or loss is included in "Net realized gain (loss) on futures contracts" on the Statements of Operations.

Upon entering into a futures contract, a Fund must deposit funds, called margin, with its custodian in the name of the clearing broker equal to a specified percentage of the current value of the contract. Open futures contracts are marked-to-market daily with the change in value recognized as a component of "Net change in unrealized appreciation (depreciation) on futures contracts" on the Statements of Operations. Pursuant to the contracts, a Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in value of the contract. Such receipts or payments are known as variation margin and are included in "Variation margin" payable or receivable on the Statements of Assets and Liabilities.

If market conditions change unexpectedly, a Fund may not achieve the anticipated benefits of the futures contract and may realize a loss. The use of futures contracts involves the risk of imperfect correlation in movements in the price of the futures contracts, interest rates and the underlying instruments.

**E. Options Contracts**

Each Fund may invest in exchange-listed options on U.S. Treasury securities, exchange-listed options on U.S. Treasury futures contracts, exchange-listed U.S. Treasury futures contracts and exchange-listed options on secured overnight financing rate futures contracts. FTCB and SCIO use derivative instruments primarily to hedge interest rate risk and actively manage interest rate exposure. The primary risk exposure is interest rate risk.

Each Fund may purchase (buy) or write (sell) put and call options on futures contracts and enter into closing transactions with respect to such options to terminate an existing position. A futures option gives the holder the right, in return for the premium paid, to assume

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025**

a long position (call) or short position (put) in a futures contract at a specified exercise price prior to the expiration of the option. Upon exercise of a call option, the holder acquires a long position in the futures contract and the writer is assigned the opposite short position. In the case of a put option, the opposite is true. Prior to exercise or expiration, a futures option contract may be closed out by an offsetting purchase or sale of a futures option of the same series. When a Fund purchases an option, the premium paid represents the cost of the option, which is included in "Options contracts purchased, at value" on the Statements of Assets and Liabilities. When a Fund writes (sells) an option, an amount equal to the premium received by a Fund is included in "Options contracts written, at value" on the Statements of Assets and Liabilities. Options are marked-to-market daily and their value is affected by changes in the value of the underlying security, changes in interest rates, changes in the actual or perceived volatility of the securities markets and the underlying securities, and the remaining time to the option's expiration. The value of options may also be adversely affected if the market for the options becomes less liquid or the trading volume diminishes.

FTCB and SCIO use options on futures contracts in connection with hedging strategies. Generally, these strategies are applied under the same market and market sector conditions in which a Fund uses put and call options on securities. The purchase of put options on futures contracts is analogous to the purchase of puts on securities so as to hedge a Fund's securities holdings against the risk of declining market prices. The writing of a call option or the purchasing of a put option on a futures contract constitutes a partial hedge against declining prices of securities which are deliverable upon exercise of the futures contract. If the price at expiration of a written call option is below the exercise price, a Fund will retain the full amount of the option premium which provides a partial hedge against any decline that may have occurred in a Fund's holdings of securities. If the price when the option is exercised is above the exercise price, however, a Fund will incur a loss, which may be offset, in whole or in part, by the increase in the value of the securities held by a Fund that were being hedged. Writing a put option or purchasing a call option on a futures contract serves as a partial hedge against an increase in the value of the securities a Fund intends to acquire. Realized gains and losses on written options are included in "Net realized gain (loss) on written options contracts" on the Statements of Operations. Realized gains and losses on purchased options are included in "Net realized gain (loss) on purchased options contracts" on the Statements of Operations.

A Fund is required to deposit and maintain margin with respect to put and call options on futures contracts written by it. Such margin deposits will vary depending on the nature of the underlying futures contract (and the related initial margin requirements), the current market value of the option and other futures positions held by a Fund. A Fund will pledge in a segregated account at a Fund's custodian, liquid assets, such as cash, U.S. government securities or other high-grade liquid debt obligations equal in value to the amount due on the underlying obligation. Such segregated assets will be marked-to-market daily, and additional assets will be pledged in the segregated account whenever the total value of the pledged assets falls below the amount due on the underlying obligation.

The risks associated with the use of options on future contracts include the risk that a Fund may close out its position as a writer of an option only if a liquid secondary market exists for such options, which cannot be assured. A Fund's successful use of options on futures contracts depends on the Advisor's ability to correctly predict the movement in prices on futures contracts and the underlying instruments, which may prove to be incorrect. In addition, there may be imperfect correlation between the instruments being hedged and the futures contract subject to option.

**F. Interest-Only Securities**

An interest-only security ("IO Security") is the interest-only portion of a mortgage-backed security that receives some or all of the interest portion of the underlying mortgage-backed security and little or no principal. A reference principal value called a notional value is used to calculate the amount of interest due to the IO Security. IO Securities are sold at a deep discount to their notional principal amount. Generally speaking, when interest rates are falling and prepayment rates are increasing, the value of an IO Security will fall. Conversely, when interest rates are rising and prepayment rates are decreasing, generally the value of an IO Security will rise. These securities, if any, are identified on each Fund's Portfolio of Investments.

**G. Principal-Only Securities**

A principal-only security ("PO Security") is the principal-only portion of a mortgage-backed security that does not receive any interest, is priced at a deep discount to its redemption value and ultimately receives the redemption value. Generally speaking, when interest rates are falling and prepayment rates are increasing, the value of a PO Security will rise. Conversely, when interest rates are rising and prepayment rates are decreasing, generally the value of a PO Security will fall. These securities, if any, are identified on the Portfolio of Investments.

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**H. Stripped Mortgage-Backed Securities**

**I. Mortgage Dollar Rolls and TBA Transactions**

Each Fund may invest, without limitation, in mortgage dollar rolls. The Funds intend to enter into mortgage dollar rolls only with high quality securities dealers and banks, as determined by the Funds' investment advisor. In a mortgage dollar roll, a Fund will sell (or buy) mortgage-backed securities for delivery on a specified date and simultaneously contract to repurchase (or sell) substantially similar (same type, coupon and maturity) securities on a future date. Mortgage dollar rolls are recorded as separate purchases and sales in a Fund. Each Fund may also invest in TBA Transactions. A TBA Transaction is a method of trading mortgage-backed securities. TBA Transactions generally are conducted in accordance with widely-accepted guidelines which establish commonly observed terms and conditions for execution, settlement and delivery. In a TBA Transaction, the buyer and the seller agree on general trade parameters such as agency, settlement date, par amount and price.

**J. Affiliated Transactions**

FTCB invests in securities of affiliated funds. FTCB investment performance and risks are directly related to the investment performance and risks of the affiliated funds. The affiliated funds' financial statements may be found at SEC.gov. Dividend income, if any, realized gains and losses, and change in appreciation (depreciation) from affiliated funds are presented on the Statements of Operations.

Amounts relating to investments in affiliated funds at July 31, 2025, and for the fiscal year then ended are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Security Name | Shares at <br>7/31/2025<br>| Value at <br>7/31/2024<br>| Purchases | Sales | Change in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Realized <br>Gain <br>(Loss)<br>| Value at <br>7/31/2025<br>| Dividend <br>Income<br>|
| First Trust Commercial Mortgage Opportunities <br> ETF<br>| 20000 | $— | $407187 | $— | $(487)<br>| $— | $406700 | $— |

---

**K. Dividends and Distributions to Shareholders**

Dividends from net investment income of each Fund, if any, are declared and paid monthly, or as the Board of Trustees may determine from time to time. Distributions of net realized capital gains earned by each Fund, if any, are distributed at least annually. Each Fund may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.

Distributions in cash may be reinvested automatically in additional whole shares only if the broker through whom the shares were purchased makes such option available. Such shares will generally be reinvested by the broker based upon the market price of those shares and investors may be subject to customary brokerage commissions charged by the broker.

Distributions from net investment income and realized capital gains are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These permanent differences are primarily due to the varying treatment of income and gain/loss on portfolio securities held by the Funds and have no impact on net assets or NAV per share. Temporary differences, which arise from recognizing certain items of income, expense and gain/loss in different periods for financial statement and tax purposes, will reverse at some time in the future.

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025**

The tax character of distributions paid by each Fund during the fiscal year ended July 31, 2025 were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | Distributions <br>paid from <br>Ordinary <br>Income<br>| Distributions <br>paid from <br>Capital <br>Gains<br>| Distributions <br>paid from <br>Return of <br>Capital<br>|
| First Trust Core Investment Grade ETF | $23758132 | &nbsp;&nbsp; $425870 | &nbsp;&nbsp; $— |
| First Trust Commercial Mortgage Opportunities ETF | 874253 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust Structured Credit Income Opportunities ETF | 1128103 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |

---

The tax character of distributions paid by each Fund during the fiscal period ended July 31, 2024 were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | Distributions <br>paid from <br>Ordinary <br>Income<br>| Distributions <br>paid from <br>Capital <br>Gains<br>| Distributions <br>paid from <br>Return of <br>Capital<br>|
| First Trust Core Investment Grade ETF | $478126 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| First Trust Commercial Mortgage Opportunities ETF | 243750 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust Structured Credit Income Opportunities ETF | 296250 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |

---

As of July 31, 2025, the components of distributable earnings on a tax basis for each Fund were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | Undistributed <br>Ordinary <br>Income<br>| Accumulated <br>Capital and <br>Other <br>Gain (Loss)<br>| Net <br>Unrealized <br>Appreciation <br>(Depreciation)<br>|
| First Trust Core Investment Grade ETF | $— | &nbsp;&nbsp; $765696 | &nbsp;&nbsp; $7102586 |
| First Trust Commercial Mortgage Opportunities ETF | 24832 | &nbsp;&nbsp; — | &nbsp;&nbsp; 165210 |
| First Trust Structured Credit Income Opportunities ETF | 44963 | &nbsp;&nbsp; — | &nbsp;&nbsp; 255740 |

---

**L. Income Taxes**

Each Fund intends to continue to qualify as a regulated investment company by complying with the requirements under Subchapter M of the Internal Revenue Code of 1986, as amended, which includes distributing substantially all of its net investment income and net realized gains to shareholders. Accordingly, no provision has been made for federal and state income taxes. However, due to the timing and amount of distributions, each Fund may be subject to an excise tax of 4% of the amount by which approximately 98% of each Fund's taxable income exceeds the distributions from such taxable income for the calendar year.

The Funds are subject to accounting standards that establish a minimum threshold for recognizing, and a system for measuring, the benefits of a tax position taken or expected to be taken in a tax return. The taxable period ended 2024 and taxable year ended 2025 remain open to federal and state audit. As of July 31, 2025, management has evaluated the application of these standards to the Funds and has determined that no provision for income tax is required in the Funds' financial statements for uncertain tax positions.

Each Fund intends to utilize provisions of the federal income tax laws, which allow it to carry a realized capital loss forward indefinitely following the year of the loss and offset such loss against any future realized capital gains. Each Fund is subject to certain limitations under U.S. tax rules on the use of capital loss carryforwards and net unrealized built-in losses. These limitations apply when there has been a 50% change in ownership. At July 31, 2025, the Funds had no non-expiring capital loss carryforwards for federal income tax purposes.

Certain losses realized during the current fiscal year may be deferred and treated as occurring on the first day of the following fiscal year for federal income tax purposes. For the fiscal year ended July 31, 2025, the Funds had no net late year ordinary or capital losses.

In order to present paid-in capital and accumulated distributable earnings (loss) (which consists of accumulated net investment income (loss), accumulated net realized gain (loss) on investments and net unrealized appreciation (depreciation) on investments) on the Statements of Assets and Liabilities that more closely represent their tax character, certain adjustments have been made to paid-in capital, accumulated net investment income (loss) and accumulated net realized gain (loss) on investments. These adjustments are primarily due to the difference between book and tax treatments of income and gains on various investment securities held by the

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025**

Funds. The results of operations and net assets were not affected by these adjustments. For the fiscal year ended July 31, 2025, the adjustments for each Fund were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | Accumulated <br>Net Investment <br>Income (Loss)<br>| Accumulated <br>Net Realized <br>Gain (Loss) <br>on Investments<br>| Paid-In <br>Capital<br>|
| First Trust Core Investment Grade ETF | $(51113)<br>| &nbsp;&nbsp; $51113 | &nbsp;&nbsp; $— |
| First Trust Commercial Mortgage Opportunities ETF | 118488 | &nbsp;&nbsp; (117300)<br>| &nbsp;&nbsp; (1188)<br>|
| First Trust Structured Credit Income Opportunities ETF | 108042 | &nbsp;&nbsp; (108042)<br>| &nbsp;&nbsp; — |

---

As of July 31, 2025, the aggregate cost, gross unrealized appreciation, gross unrealized depreciation, and net unrealized appreciation/(depreciation) on investments (including short positions and derivatives, if any) for federal income tax purposes were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Tax Cost | Gross <br> Unrealized <br>Appreciation<br>| Gross <br> Unrealized <br>(Depreciation)<br>| Net Unrealized <br>Appreciation <br>(Depreciation)<br>|
| First Trust Core Investment Grade ETF | $1327067901 | &nbsp;&nbsp; $10421298 | &nbsp;&nbsp; $(3318712)<br>| &nbsp;&nbsp; $7102586 |
| First Trust Commercial Mortgage Opportunities ETF | 17964436 | &nbsp;&nbsp; 225540 | &nbsp;&nbsp; (60330)<br>| &nbsp;&nbsp; 165210 |
| First Trust Structured Credit Income Opportunities ETF | 26739567 | &nbsp;&nbsp; 305625 | &nbsp;&nbsp; (49885)<br>| &nbsp;&nbsp; 255740 |

---

**M. Expenses**

Expenses, other than the investment advisory fee and other excluded expenses, are paid by the Advisor (see Note 3).

**N. Segment Reporting**

Each Fund has adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures. Adoption of the standard impacted financial statement disclosures only and did not affect each Fund's financial position or the results of its operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The CODM is the President and Chief Executive Officer of each Fund. Each Fund operates as a single operating segment. Each Fund's income, expenses, assets, changes in net assets resulting from operations and performance are regularly monitored and assessed as a whole by the CODM responsible for oversight functions of each Fund, using the information presented in the financial statements and financial highlights.

**3. Investment Advisory Fee, Affiliated Transactions and Other Fee Arrangements**

First Trust, the investment advisor to the Funds, is a limited partnership with one limited partner, Grace Partners of DuPage L.P., and one general partner, The Charger Corporation. The Charger Corporation is an Illinois corporation controlled by James A. Bowen, Chief Executive Officer of First Trust. First Trust is responsible for the selection and ongoing monitoring of the securities in each Fund's portfolio, managing the Funds' business affairs and providing certain administrative services necessary for the management of the Funds.

Pursuant to the Investment Management Agreement between the Trust and the Advisor, First Trust manages the investment of each Fund's assets and is responsible for the expenses of each Fund, including the cost of transfer agency, custody, fund administration, legal, audit, and other services, but excluding fee payments under the Investment Management Agreement, interest, taxes, if any, brokerage commissions and other expenses connected with the execution of portfolio transactions, distribution and service fees payable pursuant to a Rule 12b-1 plan, if any, acquired fund fees and expenses, and extraordinary expenses, which are paid by each respective Fund. The annual unitary management fee payable by each Fund to First Trust for these services will be reduced at certain levels of each Fund's net assets ("breakpoints") and calculated pursuant to the following schedules. The annual unitary management fee schedules for CAAA and SCIO set forth below are effective as of June 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025**

---

| | | | |
|:---|:---|:---|:---|
| Breakpoints | FTCB | CAAA | SCIO |
| Fund net assets up to and including $2.5 billion | 0.55000<br> %<br>| 0.45000<br> %<br>| 0.85000<br> %<br>|
| Fund net assets greater than $2.5 billion up to and including $5 billion | 0.53625<br> %<br>| 0.43875<br> %<br>| 0.82875<br> %<br>|
| Fund net assets greater than $5 billion up to and including $7.5 billion | 0.52250<br> %<br>| 0.42750<br> %<br>| 0.80750<br> %<br>|
| Fund net assets greater than $7.5 billion up to and including $10 billion | 0.50875<br> %<br>| 0.41625<br> %<br>| 0.78625<br> %<br>|
| Fund net assets greater than $10 billion | 0.49500<br> %<br>| 0.40500<br> %<br>| 0.76500<br> %<br>|

---

Prior to June 30, 2025, for CAAA and SCIO, the annual unitary management fees payable by each Fund were calculated pursuant to the following schedules:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Breakpoints | CAAA | SCIO |
| Fund net assets up to and including $2.5 billion | 0.55000<br> %<br>| 0.95000<br> %<br>|
| Fund net assets greater than $2.5 billion up to and including $5 billion | 0.53625<br> %<br>| 0.92625<br> %<br>|
| Fund net assets greater than $5 billion up to and including $7.5 billion | 0.52250<br> %<br>| 0.90250<br> %<br>|
| Fund net assets greater than $7.5 billion up to and including $10 billion | 0.50875<br> %<br>| 0.87875<br> %<br>|
| Fund net assets greater than $10 billion | 0.49500<br> %<br>| 0.85500<br> %<br>|

---

For the fiscal period ended July 31, 2024, FTCB received a payment from the Advisor in the amount of $195 in connection with a trade error.

The Trust has multiple service agreements with The Bank of New York Mellon ("BNY"). Under the service agreements, BNY performs custodial, fund accounting, certain administrative services, and transfer agency services for each Fund. As custodian, BNY is responsible for custody of each Fund's assets. As fund accountant and administrator, BNY is responsible for maintaining the books and records of each Fund's securities and cash. As transfer agent, BNY is responsible for maintaining shareholder records for each Fund. BNY is a subsidiary of The Bank of New York Mellon Corporation, a financial holding company.

Each Trustee who is not an officer or employee of First Trust, any sub-advisor or any of their affiliates ("Independent Trustees") is paid a fixed annual retainer that is allocated equally among each fund in the First Trust Fund Complex. Each Independent Trustee is also paid an annual per fund fee that varies based on whether the fund is a closed-end or other actively managed fund, a target outcome fund or an index fund.

Additionally, the Chairs of the Audit Committee, Nominating and Governance Committee and Valuation Committee, the Vice Chair of the Audit Committee, the Lead Independent Trustee and the Vice Lead Independent Trustee are paid annual fees to serve in such capacities, with such compensation allocated pro rata among each fund in the First Trust Fund Complex based on net assets. Independent Trustees are reimbursed for travel and out-of-pocket expenses in connection with all meetings. The Committee Chairs, the Audit Committee Vice Chair, the Lead Independent Trustee and the Vice Lead Independent Trustee rotate periodically in serving in such capacities. The officers and "Interested" Trustee receive no compensation from the Trust for acting in such capacities.

**4. Purchases and Sales of Securities** 

For the fiscal year ended July 31, 2025, the cost of purchases and proceeds from sales and paydowns of U.S. Government securities and non-U.S. Government securities for each Fund, excluding short-term investments, investments sold short and in-kind transactions, were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Purchases | Sales |
| **First Trust Core Investment Grade ETF** |  |  |
| U.S. Government securities | $1318316260 | &nbsp;&nbsp; $631210077 |
| Non-U.S. Government securities | 662879554 | &nbsp;&nbsp; 68170154 |
| **First Trust Commercial Mortgage Opportunities ETF** |  |  |
| U.S. Government securities | 185685 | &nbsp;&nbsp; 207161 |
| Non-U.S. Government securities | 15646236 | &nbsp;&nbsp; 12916438 |
| **First Trust Structured Credit Income Opportunities ETF** |  |  |
| U.S. Government securities | 3367849 | &nbsp;&nbsp; 3440136 |
| Non-U.S. Government securities | 18990449 | &nbsp;&nbsp; 9689357 |

---

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025**

For FTCB, the cost of purchases to cover short sales and the proceeds from short sales were $243,111,880 and $279,181,638, respectively.

For SCIO, the cost of purchases to cover short sales and the proceeds from short sales were $1,033,574 and $1,033,574, respectively.

For the fiscal year ended July 31, 2025, the Funds had no in-kind transactions.

**5. Borrowings** 

Effective February 26, 2025 for SCIO, the Trust, on behalf of SCIO, joined an existing credit agreement with BNY (the "Credit Agreement") as administrative agent for a group of lenders, the Trust, First Trust Exchange-Traded Fund III, First Trust Series Fund and First Trust Variable Insurance Trust. The borrowing rate is the higher of the federal funds effective rate and the adjusted daily simple SOFR rate plus 1.00%. The commitment amount under the Credit Agreement is $620 million and such commitment amount may be increased up to $700 million with the consent of one or more lenders. BNY charges on behalf of the lenders a commitment fee of 0.15% of the daily amount of the excess of the commitment amount over the outstanding principal balance of the loans and an agency fee. First Trust allocates the commitment fee and agency fee amongst the funds that have access to the credit line. To the extent that SCIO accesses the credit line, there would also be an interest fee charged. SCIO did not draw on the credit line during the fiscal year ended July 31, 2025.

**6. Derivative Transactions** 

The following table presents the types of derivatives held by each Fund at July 31, 2025, the primary underlying risk exposure and the location of these instruments as presented on the Statements of Assets and Liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | **Asset Derivatives** | **Asset Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| **Derivative** <br>**Instrument**<br>| **Risk** <br>**Exposure**<br>| **Statements of Assets and** <br>**Liabilities Location**<br>| **Value** | **Statements of Assets and** <br>**Liabilities Location**<br>| **Value** |
| **FTCB** |  |  |  |  |  |
| Options contracts | Interest Rate Risk | &nbsp;&nbsp; Options contracts <br> purchased, at value<br>| &nbsp;&nbsp; $27609 | &nbsp;&nbsp; Options contracts written, <br> at value<br>| &nbsp;&nbsp; $1796177 |
| Futures contracts | Interest Rate Risk | &nbsp;&nbsp; Unrealized appreciation on <br> futures contracts\*<br>| &nbsp;&nbsp; 749039 | &nbsp;&nbsp; Unrealized depreciation on <br> futures contracts\*<br>| &nbsp;&nbsp; 591336 |
| **CAAA** |  |  |  |  |  |
| Futures contracts | Interest Rate Risk | &nbsp;&nbsp; Unrealized appreciation on <br> futures contracts\*<br>| &nbsp;&nbsp; 3261 | &nbsp;&nbsp; Unrealized depreciation on <br> futures contracts\*<br>| &nbsp;&nbsp; 5327 |
| **SCIO** |  |  |  |  |  |
| Options contracts | Interest Rate Risk | &nbsp;&nbsp; Options contracts <br> purchased, at value<br>| &nbsp;&nbsp; 6406 | &nbsp;&nbsp; Options contracts written, <br> at value<br>| &nbsp;&nbsp; — |
| Futures contracts | Interest Rate Risk | &nbsp;&nbsp; Unrealized appreciation on <br> futures contracts\*<br>| &nbsp;&nbsp; 7589 | &nbsp;&nbsp; Unrealized depreciation on <br> futures contracts\*<br>| &nbsp;&nbsp; 36172 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Includes cumulative appreciation/depreciation on futures contracts as reported in each Fund's Portfolio of Investments. Only the current day's variation margin is presented on the Statements of Assets and Liabilities.

The following table presents the amount of net realized gain (loss) and change in net unrealized appreciation (depreciation) recognized for the fiscal year ended July 31, 2025, on each Fund's derivative instruments, as well as the primary underlying risk exposure associated with the instruments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Statements of Operations Location** | **FTCB**  | **CAAA**  | **SCIO**  |
| **Interest Rate Risk Exposure** |  |  |  |
| Net realized gain (loss) on: |  |  |  |
| Purchased options contracts | $(200221)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| Written options contracts | 2523162 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Futures contracts | (1582576)<br>| &nbsp;&nbsp; (10532)<br>| &nbsp;&nbsp; 23812 |

---

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025**

---

| | | | |
|:---|:---|:---|:---|
| **Statements of Operations Location** | **FTCB**  | **CAAA**  | **SCIO**  |
| Net change in unrealized appreciation <br> (depreciation) on:<br>|  |  |  |
| Purchased options contracts | $(986)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1476)<br>|
| Written options contracts | 906146 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Futures contracts | 95431 | &nbsp;&nbsp; (30025)<br>| &nbsp;&nbsp; (50997)<br>|

---

**FTCB**

The average notional value of futures contracts outstanding during the fiscal year ended July 31, 2025, which is indicative of the volume of this derivative type, was $177,421,855.

During the fiscal year ended July 31, 2025, the premiums for purchased options contracts opened were $261,404 and the premiums for purchased options contracts closed, exercised and expired were $234,622.

During the fiscal year ended July 31, 2025, the premiums for written options contracts opened were $6,856,723 and the premiums for written options contracts closed, exercised and expired were $4,212,838.

**CAAA**

The average notional value of futures contracts outstanding during the fiscal year ended July 31, 2025, which is indicative of the volume of this derivative type, was $3,902,644.

**SCIO**

The average notional value of futures contracts outstanding during the fiscal year ended July 31, 2025, which is indicative of the volume of this derivative type, was $6,168,450.

During the fiscal year ended July 31, 2025, the premiums for purchased options contracts opened were $7,882 and the premiums for purchased options contracts closed, exercised and expired were $0.

The Funds do not have the right to offset financial assets and financial liabilities related to futures and options contracts on the Statements of Assets and Liabilities.

**7. Creations, Redemptions and Transaction Fees**

Each Fund generally issues and redeems its shares in primary market transactions through a creation and redemption mechanism and does not sell or redeem individual shares. Instead, financial entities known as "Authorized Participants" have contractual arrangements with a Fund or one of the Fund's service providers to purchase and redeem Fund shares directly with the Fund in Creation Units. Prior to the start of trading on every business day, a Fund publishes through the National Securities Clearing Corporation the "basket" of securities, cash or other assets that it will accept in exchange for a Creation Unit of the Fund's shares. An Authorized Participant that wishes to effectuate a creation of a Fund's shares deposits with the Fund the "basket" of securities, cash or other assets identified by the Fund that day, and then receives the Creation Unit of the Fund's shares in return for those assets. After purchasing a Creation Unit, the Authorized Participant may continue to hold the Fund's shares or sell them in the secondary market. The redemption process is the reverse of the purchase process: the Authorized Participant redeems a Creation Unit of a Fund's shares for a basket of securities, cash or other assets. The combination of the creation and redemption process with secondary market trading in a Fund's shares and underlying securities provides arbitrage opportunities that are designed to help keep the market price of a Fund's shares at or close to the NAV per share of the Fund.

Each Fund imposes fees in connection with the purchase of Creation Units. These fees may vary based upon various fact-based circumstances, including, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the transactions are settled. The price for each Creation Unit will equal the daily NAV per share of a Fund times the number of shares in a Creation Unit, plus the fees described above and, if applicable, any operational processing and brokerage costs, transfer fees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising the creation basket.

Each Fund also imposes fees in connection with the redemption of Creation Units. These fees may vary based upon various fact-based circumstances, including, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the transactions are settled. The price received for each Creation Unit will equal the daily NAV per share of a Fund times the number

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025**

of shares in a Creation Unit, minus the fees described above and, if applicable, any operational processing and brokerage costs, transfer fees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising the redemption basket. Investors who use the services of a broker or other such intermediary in addition to an Authorized Participant to effect a redemption of a Creation Unit may also be assessed an amount to cover the cost of such services. The redemption fee charged by a Fund will comply with Rule 22c-2 of the 1940 Act which limits redemption fees to no more than 2% of the value of the shares redeemed.

**8. Distribution Plan** 

The Board of Trustees adopted a Distribution and Service Plan pursuant to Rule 12b-1 under the 1940 Act. In accordance with the Rule 12b-1 plan, the Funds are authorized to pay an amount up to 0.25% of their average daily net assets each year to reimburse First Trust Portfolios L.P. ("FTP"), the distributor of the Funds, for amounts expended to finance activities primarily intended to result in the sale of Creation Units or the provision of investor services. FTP may also use this amount to compensate securities dealers or other persons that are Authorized Participants for providing distribution assistance, including broker-dealer and shareholder support and educational and promotional services.

No 12b-1 fees are currently paid by the Funds, and pursuant to a contractual arrangement, no 12b-1 fees will be paid any time before March 31, 2027.

**9. Indemnification**

The Trust, on behalf of the Funds, has a variety of indemnification obligations under contracts with its service providers. The Trust's maximum exposure under these arrangements is unknown. However, the Trust has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

**10. Subsequent Events**

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were issued and has determined that there was the following subsequent event:

Effective on September 2, 2025, CAAA's name changed to First Trust AAA CMBS ETF. In connection with the change to CAAA's name, CAAA's non-fundamental investment policy adopted pursuant to Rule 35d-1 under the 1940 Act was revised as follows:

Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in commercial mortgage-backed securities with a 'AAA' rating (or equivalent) at the time of purchase, as determined by at least one nationally recognized statistical rating organization or, if unrated, as determined by the Advisor to be of comparable credit quality at the time of purchase.

------

**Report of Independent Registered Public Accounting Firm**

**To the Shareholders and the Board of Trustees of First Trust Exchange-Traded Fund IV:**

**Opinion on the Financial Statements and Financial Highlights**

We have audited the accompanying statements of assets and liabilities, including the portfolios of investments, of First Trust Core Investment Grade ETF, First Trust Commercial Mortgage Opportunities ETF, and First Trust Structured Credit Income Opportunities ETF (the "Funds"), each a series of the First Trust Exchange-Traded Fund IV, as of July 31, 2025, and the related statements of operations, statements of changes in net assets, financial highlights for the periods indicated in the table below, and the related notes (collectively referred to as the "financial statements and financial highlights"). In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Funds as of July 31, 2025, and the results of their operations, the changes in their net assets, and the financial highlights for the periods listed in the table below in conformity with accounting principles generally accepted in the United States of America.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Individual Funds Included** <br>**in the Trust**<br>| **Statements of Changes** <br>**in Net Assets**<br>| **Financial Highlights** |
| First Trust Core Investment <br> Grade ETF<br>| For the year ended July 31, 2025 and for the period from November 7, 2023 (commencement of <br> investment operations) through July 31, 2024 | For the year ended July 31, 2025 and for the period from November 7, 2023 (commencement of <br> investment operations) through July 31, 2024 |
| First Trust Commercial Mortgage <br> Opportunities ETF<br>| For the year ended July 31, 2025 and for the period from February 27, 2024 (commencement of <br> investment operations) through July 31, 2024 | For the year ended July 31, 2025 and for the period from February 27, 2024 (commencement of <br> investment operations) through July 31, 2024 |
| First Trust Structured Credit <br> Income Opportunities ETF<br>| For the year ended July 31, 2025 and for the period from February 27, 2024 (commencement of <br> investment operations) through July 31, 2024 | For the year ended July 31, 2025 and for the period from February 27, 2024 (commencement of <br> investment operations) through July 31, 2024 |

---

**Basis for Opinion**

These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of July 31, 2025, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche, LLP

Chicago, Illinois

September 25, 2025

We have served as the auditor of one or more First Trust investment companies since 2001.

------

**Other Information**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025 (Unaudited)**

**Changes in and Disagreements with Accountants (Item 8 of Form N-CSR)**

There were no changes in or disagreements with the Funds' accountants during the fiscal year ended July 31, 2025.

**Proxy Disclosures (Item 9 of Form N-CSR)**

There were no matters submitted for vote by shareholders of any Fund during the fiscal year ended July 31, 2025.

**Remuneration Paid to Directors, Officers, and Others (Item 10 of Form N-CSR)**

Independent Trustees and any member of any advisory board of each Fund are compensated through the unitary management fee paid by each Fund to the advisor and not directly by each Fund. The investment advisory fee paid is included in the Statements of Operations.

**Statement Regarding the Basis for the Board's Approval of Investment Advisory Contract (Item 11 of Form N-CSR)**

The Board of Trustees of First Trust Exchange-Traded Fund VIII (the "Trust"), including the Independent Trustees, unanimously approved the continuation of the Investment Management Agreement (the "Agreement") with First Trust Advisors L.P. (the "Advisor") on behalf of the following series of the Trust (each a "Fund" and collectively, the "Funds"):

First Trust Core Investment Grade ETF (FTCB)

First Trust Commercial Mortgage Opportunities ETF (CAAA)

First Trust Structured Credit Income Opportunities ETF (SCIO)

The Board approved the continuation of the Agreement for each Fund for a one-year period ending June 30, 2026 at a meeting held on June 8–9, 2025. The Board determined for each Fund that the continuation of the Agreement is in the best interests of the Fund in light of the nature, extent and quality of the services provided and such other matters as the Board considered to be relevant in the exercise of its business judgment.

To reach this determination for each Fund, the Board considered its duties under the Investment Company Act of 1940, as amended (the "1940 Act"), as well as under the general principles of state law, in reviewing and approving advisory contracts; the requirements of the 1940 Act in such matters; the fiduciary duty of investment advisors with respect to advisory agreements and compensation; the standards used by courts in determining whether investment company boards have fulfilled their duties; and the factors to be considered by the Board in voting on such agreements. At meetings held on April 22, 2025 and June 8–9, 2025, the Board, including the Independent Trustees, reviewed materials provided by the Advisor responding to requests for information from counsel to the Independent Trustees, submitted on behalf of the Independent Trustees, that, among other things, outlined: the services provided by the Advisor to each Fund (including the relevant personnel responsible for these services and their experience); the unitary fee rate schedule payable by each Fund as compared to fees charged to a peer group of funds (the "Expense Group") and a broad peer universe of funds (the "Expense Universe"), each assembled by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent source, and as compared to fees charged to other clients of the Advisor, including other exchange-traded funds ("ETFs") managed by the Advisor; the expense ratio of each Fund as compared to expense ratios of the funds in the Fund's Expense Group and Expense Universe; performance information for each Fund, including comparisons of FTCB's performance to that of one or more relevant benchmark indexes and to that of a performance group of funds and a broad performance universe of funds (the "Performance Universe"), each assembled by Broadridge; the nature of expenses incurred in providing services to each Fund and the potential for the Advisor to realize economies of scale, if any; profitability and other financial data for the Advisor; any indirect benefits to the Advisor and its affiliate, First Trust Portfolios L.P. ("FTP"); and information on the Advisor's compliance program. The Board reviewed initial materials with the Advisor at the meeting held on April 22, 2025, prior to which the Independent Trustees and their counsel met separately to discuss the information provided by the Advisor. Following the April meeting, counsel to the Independent Trustees, on behalf of the Independent Trustees, requested certain clarifications and supplements to the materials provided, and the information provided in response to those requests was considered at an executive session of the Independent Trustees and their counsel held prior to the June 8–9, 2025 meeting, as well as at the June meeting. The Board applied its business judgment to determine whether the arrangement between the Trust and the Advisor continues to be a reasonable business arrangement from each Fund's perspective. The Board determined that, given the totality of the information provided with respect to the Agreement, the Board had received sufficient information to renew the Agreement. The Board considered that shareholders chose to invest or remain invested in a Fund knowing that the Advisor manages the Fund and knowing the Fund's unitary fee.

------

**Other Information (Continued)**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025 (Unaudited)**

In reviewing the Agreement for each Fund, the Board considered the nature, extent and quality of the services provided by the Advisor under the Agreement. The Board considered that the Advisor is responsible for the overall management and administration of the Trust and each Fund and reviewed all of the services provided by the Advisor to the Funds, as well as the background and experience of the persons responsible for such services. The Board noted that each Fund is an actively-managed ETF. The Board noted that the Advisor's Government & Securitized Products Team is responsible for the day-to-day management of CAAA's and SCIO's investments, and that the Advisor's Government & Securitized Products Team and Investment Grade Fixed Income Team are responsible for day-to-day management of FTCB's investments. The Board considered the background and experience of the members of the Teams and noted the Board's prior meetings with members of the Teams. The Board considered the Advisor's statement that it applies the same oversight model internally with its Government & Securitized Products Team and Investment Grade Fixed Income Team as it uses for overseeing external sub-advisors, including portfolio risk monitoring and performance review. In reviewing the services provided, the Board noted the compliance program that had been developed by the Advisor and considered that it includes a robust program for monitoring the Advisor's and each Fund's compliance with the 1940 Act, as well as each Fund's compliance with its investment objective, policies and restrictions. The Board also considered a report from the Advisor with respect to its risk management functions related to the operation of the Funds. Finally, as part of the Board's consideration of the Advisor's services, the Advisor, in its written materials and at the April 22, 2025 meeting, described to the Board the scope of its ongoing investment in additional personnel and infrastructure to maintain and improve the quality of services provided to the Funds and the other funds in the First Trust Fund Complex. In light of the information presented and the considerations made, the Board concluded that the nature, extent and quality of the services provided to the Trust and each Fund by the Advisor under the Agreement have been and are expected to remain satisfactory and that the Advisor has managed each Fund consistent with its investment objective, policies and restrictions.

The Board considered the unitary fee rate schedule payable by each Fund under the Agreement for the services provided. The Board considered that as part of the unitary fee the Advisor is responsible for each Fund's expenses, including the cost of transfer agency, custody, fund administration, legal, audit and other services and license fees, if any, but excluding the fee payment under the Agreement and interest, taxes, acquired fund fees and expenses, brokerage commissions and other expenses connected with the execution of portfolio transactions, distribution and service fees pursuant to a Rule 12b-1 plan, if any, and extraordinary expenses, if any. The Board received and reviewed information showing the fee rates and expense ratios of the peer funds in the Expense Groups, as well as advisory and unitary fee rates charged by the Advisor to other fund (including ETFs) and non-fund clients, as applicable. Because each Fund pays a unitary fee, the Board determined that expense ratios were the most relevant comparative data point. The Board noted that for each of CAAA and SCIO, effective June 30, 2025, the initial fee rate in the Fund's unitary fee rate schedule will be reduced from 0.55% to 0.45% and from 0.95% to 0.85%, respectively. Based on the information provided, the Board noted that the total (net) expense ratio for each Fund was, and that the total (net) expense ratio for each of CAAA and SCIO under the Fund's reduced unitary fee rate schedule will be, above the median total (net) expense ratio of the peer funds in its respective Expense Group. With respect to the Expense Groups, the Board discussed with the Advisor limitations in creating peer groups for actively-managed ETFs, and different business models that may affect the pricing of services among ETF sponsors. The Board took these limitations and differences into account in considering the peer data. With respect to fees charged to other non-ETF clients, the Board considered differences between the Funds and other non-ETF clients that limited their comparability. In considering the unitary fee rate schedules overall, the Board also considered the Advisor's statement that it seeks to meet investor needs through innovative and value-added investment solutions and the Advisor's demonstrated long-term commitment to each Fund and the other funds in the First Trust Fund Complex.

The Board considered performance information for each Fund. The Board noted the process it has established for monitoring each Fund's performance and portfolio risk on an ongoing basis, which includes quarterly performance reporting from the Advisor for the Funds. The Board determined that this process continues to be effective for reviewing each Fund's performance. Because each of CAAA and SCIO commenced operations on February 27, 2024, and therefore has a limited performance history, comparative performance information for CAAA and SCIO was not reviewed. The Board received and reviewed information comparing FTCB's performance for the one-year period ended December 31, 2024 to the performance of the funds in its Performance Universe and to that of a benchmark index. Based on the information provided, the Board noted that FTCB outperformed its Performance Universe median and benchmark index for the one-year period ended December 31, 2024.

On the basis of all the information provided on the unitary fee of each Fund, the performance of FTCB and the ongoing oversight by the Board, the Board concluded that the unitary fee for each Fund continues to be reasonable and appropriate in light of the nature, extent and quality of the services provided by the Advisor to each Fund under the Agreement.

------

**Other Information (Continued)**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025 (Unaudited)**

The Board considered information and discussed with the Advisor whether there were any economies of scale in connection with providing advisory services to the Funds at current asset levels and whether the Funds may benefit from any economies of scale. The Board noted that the unitary fee rate schedule for each Fund includes breakpoints pursuant to which the unitary fee rate will be reduced as assets of the Fund meet certain thresholds. The Board considered the Advisor's statement that it believes that its expenses relating to providing advisory services to the Funds will increase during the next twelve months as the Advisor continues to build infrastructure and add new staff. The Board also noted that under the unitary fee structure, any reduction in expenses associated with the management and operations of the Funds would benefit the Advisor, but that the unitary fee structure provides a level of certainty in expenses for shareholders of the Funds. The Board concluded that the unitary fee rate schedule for each Fund reflects an appropriate level of sharing of any economies of scale that may be realized in the management of the Fund at current asset levels. The Board considered the revenues and allocated costs (including the allocation methodology) of the Advisor in serving as investment advisor to CAAA and SCIO for the period from inception through December 31, 2024 and to FTCB for the twelve months ended December 31, 2024 and the estimated profitability level for each Fund calculated by the Advisor based on such data, as well as complex-wide and product-line profitability data, for the twelve months ended December 31, 2024. The Board noted the inherent limitations in the profitability analysis and concluded that, based on the information provided, the Advisor's profitability level for each Fund was not unreasonable. In addition, the Board considered indirect benefits described by the Advisor that may be realized from its relationship with the Funds. The Board considered that the Advisor had identified as an indirect benefit to the Advisor and FTP their exposure to investors and brokers who, absent their exposure to the Funds, may have had no dealings with the Advisor or FTP, and noted that the Advisor does not utilize soft dollars in connection with the Funds. The Board concluded that the character and amount of potential indirect benefits to the Advisor were not unreasonable.

Based on all of the information considered and the conclusions reached, the Board, including the Independent Trustees, unanimously determined that the terms of the Agreement continue to be fair and reasonable and that the continuation of the Agreement is in the best interests of each Fund. No single factor was determinative in the Board's analysis.

**Remuneration Disclosure Under the Alternative Investment Fund Managers Directive**

First Trust Advisors L.P. ("First Trust") is authorised and regulated by the U.S. Securities and Exchange Commission and is entitled to market shares of certain First Trust Exchange-Traded Fund IV funds it manages (the "Funds") in certain member states in the European Economic Area in accordance with the cooperation arrangements in Article 42 of the Alternative Investment Fund Managers Directive (the "Directive"). First Trust is required under the Directive to make disclosures in respect of remuneration. The following disclosures are made in line with First Trust's interpretation of currently available regulatory guidance on remuneration disclosures.

During the year ended December 31, 2024, the amount of remuneration paid (or to be paid) by First Trust Advisors L.P. in respect of the Funds is $26,245. This figure is comprised of $1,058 paid (or to be paid) in fixed compensation and $25,187 paid (or to be paid) in variable compensation. There were a total of 24 beneficiaries of the remuneration described above. Those amounts include $13,757 paid (or to be paid) to senior management of First Trust Advisors L.P. and $12,488 paid (or to be paid) to other employees whose professional activities have a material impact on the risk profiles of First Trust Advisors L.P. or the Funds (collectively, "Code Staff").

Code Staff included in the aggregated figures disclosed above are rewarded in line with First Trust's remuneration policy (the "Remuneration Policy") which is determined and implemented by First Trust's senior management. The Remuneration Policy reflects First Trust's ethos of good governance and encapsulates the following principal objectives:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. to provide a clear link between remuneration and performance of First Trust and to avoid rewarding for failure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. to promote sound and effective risk management consistent with the risk profiles of the funds managed by First Trust; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. to remunerate staff in line with the business strategy, objectives, values and interests of First Trust and the funds managed by First Trust in a manner that avoids conflicts of interest.

First Trust assesses various risk factors which it is exposed to when considering and implementing remuneration for Code Staff and considers whether any potential award to such person(s) would give rise to a conflict of interest. First Trust does not reward failure, or consider the taking of risk or failure to take risk in its remuneration of Code Staff.

First Trust assesses performance for the purposes of determining payments in respect of performance-related remuneration of Code Staff by reference to a broad range of measures including (i) individual performance (using financial and non-financial criteria), and (ii) the overall performance of First Trust. Remuneration is not based upon the performance of the Funds.

------

**Other Information (Continued)**

**First Trust Exchange-Traded Fund IV**

**July 31, 2025 (Unaudited)**

The elements of remuneration are balanced between fixed and variable and the senior management sets fixed salaries at a level sufficient to ensure that variable remuneration incentivises and rewards strong individual performance but does not encourage excessive risk taking.

No individual is involved in setting his or her own remuneration.

**Federal Tax Information**

Distributions paid to foreign shareholders during each Fund's fiscal year ended July 31, 2025 that were properly designated by each Fund as "interest-related dividends" or "short-term capital gain dividends," may not be subject to federal income tax provided that the income was earned directly by such foreign shareholders.

Of the ordinary income (including short-term capital gain) distributions made by each Fund during the fiscal year ended July 31, 2025, none qualify for the corporate dividends received deduction available to corporate shareholders or as qualified dividend income.

------

(b) The Financial Highlights is included in the Financial Statements and Other Information filed under Item 7(a) of this Form N-CSR.

**Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.**

This information is included in the Financial Statements and Other Information filed under Item 7(a) of this Form N-CSR.

**Item 9. Proxy Disclosures for Open-End Management Investment Companies.**

This information is included in the Financial Statements and Other Information filed under Item 7(a) of this Form N-CSR.

**Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.**

This information is included in the Financial Statements and Other Information filed under Item 7(a) of this Form N-CSR.

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.**

This information is included in the Financial Statements and Other Information filed under Item 7(a) of this Form N-CSR.

**Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.**

Not applicable to the Registrant.

**Item 13. Portfolio Managers of Closed-End Management Investment Companies.**

Not applicable to the Registrant.

**Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.**

Not applicable to the Registrant.

**Item 15. Submission of Matters to a Vote of Security Holders.**

There have been no material changes to the procedures by which the shareholders may recommend nominees to the Registrant's board of directors, where those changes were implemented after the Registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.

**Item 16. Controls and Procedures.**

(a) The Registrant's principal executive and principal financial officers,
 or persons performing similar functions, have concluded that the Registrant's disclosure controls and procedures (as defined in
 Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective,
 as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation
 of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under
 the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b) There were no changes in the Registrant's internal control over financial
 reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report
 that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting.

**Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.** 

(a) Not applicable to the Registrant.

(b) Not applicable to the Registrant.

**Item 18. Recovery of Erroneously Awarded Compensation.**

(a) Not applicable to the Registrant.

(b) Not applicable to the Registrant.

**Item 19. Exhibits.**

(a)(1) [Code of ethics, or any amendment thereto, that is the subject of disclosure required by Item 2 is attached hereto.](ethics.htm)

(a)(2) Not applicable to the Registrant.

(a)(3) [The certifications required by Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.](certs_302.htm)

(a)(4) Not applicable to the Registrant.

(a)(5) Not applicable to the Registrant.

(b) [Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.](certs_906.htm)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(registrant) First Trust Exchange-Traded Fund IV

---

| | |
|:---|:---|
| By (Signature and Title)\* | &nbsp;&nbsp;&nbsp;/s/ James M. Dykas |
|  | &nbsp;&nbsp;&nbsp;James M. Dykas, President and Chief Executive Officer<br> (principal executive officer) |

---

Date: <u>October 7, 2025</u>

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By (Signature and Title)\* | &nbsp;&nbsp;&nbsp;/s/ James M. Dykas |
|  | &nbsp;&nbsp;&nbsp;James M. Dykas, President and Chief Executive Officer<br> (principal executive officer) |

---

Date: <u>October 7, 2025</u>

---

| | |
|:---|:---|
| By (Signature and Title)\* | &nbsp;&nbsp;&nbsp;/s/ Derek D. Maltbie |
|  | &nbsp;&nbsp;&nbsp;Derek D. Maltbie, Treasurer, Chief Financial Officer <br> and Chief Accounting Officer<br> (principal financial officer) |

---

Date: <u>October 7, 2025</u>

<sup>\*</sup> Print the name and title of each signing officer under his or her signature.

## Ex-99.Code

#### SENIOR FINANCIAL OFFICER<br> CODE OF CONDUCT
I. Introduction

This code of conduct is being adopted by the investment companies advised by First Trust Advisors L.P., from time to time, (the "FUNDS"). The reputation and integrity of the Funds are valuable assets that are vital to the Funds' success. Each officer of the Funds, and officers and employees of the investment adviser to the Funds who work on Fund matters, including each of the Funds' senior financial officers ("SFOS"), is responsible for conducting each Fund's business in a manner that demonstrates a commitment to the highest standards of integrity. SFOs include the Principal Executive Officer (who is the President), the Controller (who is the principal accounting officer), and the Treasurer (who is the principal financial officer), and any person who performs a similar function.

The Funds, First Trust Advisors L.P. and First Trust Portfolios have adopted Codes of Ethics under Rule 17j-1 under the Investment Company Act of 1940 (the "RULE 17J-1 CODE"). These Codes of Ethics are designed to prevent certain conflicts of interest that may arise when officers, employees, or directors of the Funds and the foregoing entities know about present or future Fund transactions and/or have the power to influence those transactions, and engage in transactions with respect to those same securities in their personal account(s) or otherwise take advantage of their position and knowledge with respect to those securities. In an effort to prevent these conflicts and in accordance with Rule 17j-1, the Funds adopted their Rule 17j-1 Code to prohibit transactions and conduct that create conflicts of interest, and to establish compliance procedures.

The Sarbanes-Oxley Act of 2002 was designed to address corporate malfeasance and to help assure investors that the companies in which they invest are accurately and completely disclosing financial information. Under Section 406 of the Act, all public companies (including the Funds) must either have a code of ethics for their SFOs, or disclose why they do not. The Act was intended to prevent future situations (such as occurred in well-reported situations involving such companies as Enron and WorldCom) where a company creates an environment in which employees are afraid to express their opinions or to question unethical and potentially illegal business practices.

The Funds have chosen to adopt a senior financial officer Code of Conduct to encourage their SFOs, and other Fund officers and employees of First Trust Advisors or First Trust Portfolios to act ethically and to question potentially unethical or illegal practices, and to strive to ensure that the Funds' financial disclosures are complete, accurate, and understandable.

II. Purposes of This Code of Conduct

The purposes of this Code are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. To promote honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. To promote full, fair, accurate, timely, and understandable disclosure in reports and documents that the Funds file with, or submits to, the SEC and in other public communications the Funds make;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. To promote compliance with applicable governmental laws, rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. To encourage the prompt internal reporting to an appropriate person of violations of the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. To establish accountability for adherence to the Code.

III. Questions About This Code

The Funds' Boards of Trustees have designated W. Scott Jardine or other appropriate officer designated by the President of the respective Funds to be the Compliance Coordinator for the implementation and administration of the Code.

IV. Handling of Financial Information

The Funds have adopted guidelines under which its SFOs perform their duties. However, the Funds expect that all officers or employees of the adviser or distributor who participate in the preparation of any part of any Fund's financial statements follow these guidelines with respect to each Fund:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Act with honesty and integrity and avoid violations of this Code, including actual or apparent conflicts of interest with the Fund in personal and professional relationships.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Disclose to the Fund's Compliance Coordinator any material transaction or relationship that reasonably could be expected to give rise to any violations of the Code, including actual or apparent conflicts of interest with the Fund. You should disclose these transactions or relationships whether you are involved or have only observed the transaction or relationship. If it is not possible to disclose the matter to the Compliance Coordinator, it should be disclosed to the Fund's Principal Financial Officer or Principal Executive Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Provide information to the Fund's other officers and appropriate employees of service providers (adviser, administrator, outside auditor, outside counsel, custodian, etc.) that is accurate, complete, objective, relevant, timely, and understandable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Endeavor to ensure full, fair, timely, accurate, and understandable disclosure in the Fund's periodic reports.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. Comply with the federal securities laws and other applicable laws and rules, such as the Internal Revenue Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. Act in good faith, responsibly, and with due care, competence and diligence, without misrepresenting material facts or allowing your independent judgment to be subordinated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G. Respect the confidentiality of information acquired in the course of your work except when you have Fund approval to disclose it or where disclosure is otherwise legally mandated. You may not use confidential information acquired in the course of your work for personal advantage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H. Share and maintain skills important and relevant to the Fund's needs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I. Proactively promote ethical behavior among peers in your work environment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J. Responsibly use and control all assets and resources employed or entrusted to you.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;K. Record or participate in the recording of entries in the Fund's books and records that are accurate to the best of your knowledge.

V. Waivers of This Code

SFOs and other parties subject to this Code may request a waiver of a provision of this Code (or certain provisions of the Fund's Rule 17j-1 Code) by submitting their request in writing to the Compliance Coordinator for appropriate review. An executive officer of the Fund or the Audit Committee will decide whether to grant a waiver. All waivers of this Code must be disclosed to the Fund's shareholders to the extent required by SEC rules. A good faith interpretation of the provisions of this Code, however, shall not constitute a waiver.

VI. Annual Certification

Each SFO will be asked to certify on an annual basis that he/she is in full compliance with the Code and any related policy statements.

VII. Reporting Suspected Violations

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. SFOs or other officers of the Funds or employees of the First Trust group who work on Fund matters who observe, learn of, or, in good faith, suspect a violation of the Code MUST immediately report the violation to the Compliance Coordinator, another member of the Funds' or First Trust's senior management, or to the Audit Committee of the Fund Board. An example of a possible Code violation is the preparation and filing of financial disclosure that omits material facts, or that is accurate but is written in a way that obscures its meaning.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Because service providers such as an administrator, outside accounting firm, and custodian provide much of the work relating to the Funds' financial statements, you should be alert for actions by service providers that may be illegal, or that could be viewed as dishonest or unethical conduct. You should report these actions to the Compliance Coordinator even if you know, or think, that the service provider has its own code of ethics for its SFOs or employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. SFOs or other officers or employees who report violations or suspected violations in good faith will not be subject to retaliation of any kind. Reported violations will be investigated and addressed promptly and will be treated confidentially to the extent possible.

VIII. Violations of The Code

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Dishonest, unethical or illegal conduct will constitute a violation of this Code, regardless of whether this Code specifically refers to that particular conduct. A violation of this Code may result in disciplinary action, up to and including termination of employment. A variety of laws apply to the Funds and their operations, including the Securities Act of 1933, the Investment Company Act of 1940, state laws relating to duties owed by Fund directors and officers, and criminal laws. The federal securities laws generally prohibit the Funds from making material misstatements in its prospectus and other documents filed with the SEC, or from omitting to state a material fact. These material misstatements and omissions include financial statements that are misleading or omit materials facts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Examples of criminal violations of the law include stealing, embezzling, misapplying corporate or bank funds, making a payment for an expressed purpose on a Fund's behalf to an individual who intends to use it for a different purpose; or making payments, whether corporate or personal, of cash or other items of value that are intended to influence the judgment or actions of political candidates, government officials or businesses in connection with any of the Funds' activities. The Funds must and will report all suspected criminal violations to the appropriate authorities for possible prosecution, and will investigate, address and report, as appropriate, non-criminal violations.

Amended: June 1, 2009

## Ex-99.Cert

**Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 <br> of the Sarbanes-Oxley Act**

I, James M. Dykas, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of First Trust Exchange-Traded Fund IV;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included
in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash
flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented
in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control
over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures
and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90
days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial
reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed to the registrant's
auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal
control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize,
and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have
a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: | October 7, 2025 | &nbsp;&nbsp;&nbsp;/s/ James M. Dykas |
|  |  | &nbsp;&nbsp;&nbsp;James M. Dykas, President and Chief Executive Officer<br> (principal executive officer) |

---

**Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 <br> of the Sarbanes-Oxley Act**

I, Derek D. Maltbie, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of First Trust Exchange-Traded Fund IV;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included
in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash
flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented
in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control
over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures
and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90
days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial
reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed to the registrant's
auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal
control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize,
and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have
a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: | October 7, 2025 | &nbsp;&nbsp;&nbsp;/s/ Derek D. Maltbie |
|  |  | &nbsp;&nbsp;&nbsp;Derek D. Maltbie, Treasurer, Chief Financial Officer <br> and Chief Accounting Officer<br> (principal financial officer) |

---

## Exhibit 99.906

**Certification Pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 <br> of the Sarbanes-Oxley Act**

I, James M. Dykas, President and Chief Executive Officer of First Trust Exchange-Traded Fund IV (the "Registrant"), certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Form N-CSR of the Registrant (the "Report") fully complies with the requirements of Section
13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Registrant.

---

| | | |
|:---|:---|:---|
| Date: | October 7, 2025 | &nbsp;&nbsp;&nbsp;/s/ James M. Dykas |
|  |  | &nbsp;&nbsp;&nbsp;James M. Dykas, President and Chief Executive Officer<br> (principal executive officer) |

---

I, Derek D. Maltbie, Treasurer, Chief Financial Officer and Chief Accounting Officer of First Trust Exchange-Traded Fund IV (the "Registrant"), certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Form N-CSR of the Registrant (the "Report") fully complies with the requirements of Section
13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Registrant.

---

| | | |
|:---|:---|:---|
| Date: | October 7, 2025 | &nbsp;&nbsp;&nbsp;/s/ Derek D. Maltbie |
|  |  | &nbsp;&nbsp;&nbsp;Derek D. Maltbie, Treasurer, Chief Financial Officer <br> and Chief Accounting Officer<br> (principal financial officer) |

---