# EDGAR Filing Document

**Accession Number:** 0001517936
**File Stem:** 0001445546-26-002669
**Filing Date:** 2026-4
**Character Count:** 315340
**Document Hash:** daa58ef65cc4263074ca90d30e0f191e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001445546-26-002669.hdr.sgml**: 20260410

**ACCESSION NUMBER**: 0001445546-26-002669

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 18

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260410

**DATE AS OF CHANGE**: 20260410

**EFFECTIVENESS DATE**: 20260410

**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-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22559
- **FILM NUMBER:** 26853905

**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

------

#### &nbsp;&nbsp;&nbsp;&nbsp; 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:

January 31, 2026

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 semi-annual reports transmitted to shareholders pursuant to Rule 30e-1 under the Act.

![TSR - First Trust Fund Logo](images_30632.jpg)

### First Trust Core Investment Grade ETF

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

#### SEMI-ANNUAL SHAREHOLDER REPORT \| January 31, 2026
This semi-annual shareholder report contains important information about the First Trust Core Investment Grade ETF (the "Fund") for the period of August 1, 2025 to January 31, 2026. 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 SIX MONTHS?
(Based on a hypothetical $10,000 investment)

---

| |
|:---|
| **Fund** |
| First Trust Core Investment Grade ETF$29<sup>(1)</sup>0.56%<sup>(1) (2) (3)</sup> |

---

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

<sup>(2)</sup> Annualized.

<sup>(3)</sup> Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.55%.

KEY FUND STATISTICS (As of January 31, 2026)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$2036058696 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;713 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;64% |

---

#### WHAT DID THE FUND INVEST IN? (As of January 31, 2026)
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 | 30.9% |
| U.S. Government Bonds and Notes | 20.2% |
| Corporate Bonds and Notes | 19.8% |
| Mortgage-Backed Securities | 19.1% |
| Asset-Backed Securities | 5.3% |
| Foreign Corporate Bonds and Notes | 3.6% |
| Municipal Bonds | 1.9% |
| U.S. Government Agency Securities | 0.2% |
| Exchange-Traded Funds | 0.0% |
| U.S. Treasury Bills | 0.8% |
| Money Market Funds | 0.9% |
| U.S. Government Agency Mortgage-Backed Securities Sold Short | (2.7%) |
| Written Options | (0.1%) |
| Net Other Assets and Liabilities<sup>(1)</sup> | 0.1% |
| Total | 100.0% |

---

**Credit Quality <sup>(2)</sup>**![Graphical Representation - Allocation 2 Chart](chartimages_11364990.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_30632.jpg)

### First Trust AAA CMBS ETF

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

#### SEMI-ANNUAL SHAREHOLDER REPORT \| January 31, 2026
This semi-annual shareholder report contains important information about the First Trust AAA CMBS ETF (the "Fund") for the period of August 1, 2025 to January 31, 2026. 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 or after the reporting period.**

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

---

| |
|:---|
| **Fund** |
| First Trust AAA CMBS ETF$22<sup>(1)</sup>0.43%<sup>(1) (2) (3)</sup> |

---

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

<sup>(2)</sup> Annualized.

<sup>(3)</sup> Includes extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.42%.

KEY FUND STATISTICS (As of January 31, 2026)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$31734169 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;108 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;10% |

---

#### WHAT DID THE FUND INVEST IN? (As of January 31, 2026)
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 | 88.9% |
| U.S. Government Agency Mortgage-Backed Securities | 6.5% |
| U.S. Treasury Bills | 2.8% |
| Money Market Funds | 3.8% |
| Net Other Assets and Liabilities<sup>(1)</sup> | (2.0%) |
| Total | 100.0% |

---

**Credit Quality <sup>(2)</sup>**![Graphical Representation - Allocation 2 Chart](chartimages_11365032.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, 2025. 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 February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.29%. Additionally, under the Fund's new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund's prospectus or statement of additional information.

#### 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 AAA CMBS ETF (CAAA)

![TSR - First Trust Fund Logo](images_30632.jpg)

### First Trust Structured Credit Income Opportunities ETF

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

#### SEMI-ANNUAL SHAREHOLDER REPORT \| January 31, 2026
This semi-annual shareholder report contains important information about the First Trust Structured Credit Income Opportunities ETF (the "Fund") for the period of August 1, 2025 to January 31, 2026. 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 or after the reporting period.**

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

---

| |
|:---|
| **Fund** |
| First Trust Structured Credit Income Opportunities ETF$41<sup>(1)</sup>0.80%<sup>(1) (2)</sup> |

---

<sup>(1)</sup> Excludes any Acquired Fund Fees and Expenses of underlying investment companies in which the Fund invests. <br> <sup>(2)</sup> Annualized.

KEY FUND STATISTICS (As of January 31, 2026)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Fund net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$176609374 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;294 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate** | &nbsp;&nbsp;&nbsp;&nbsp;22% |

---

#### WHAT DID THE FUND INVEST IN? (As of January 31, 2026)
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 | 49.2% |
| Asset-Backed Securities | 26.7% |
| U.S. Government Agency Mortgage-Backed Securities | 18.4% |
| U.S. Treasury Bills | 6.8% |
| Money Market Funds | 2.4% |
| Purchased Options | 0.0% |
| U.S. Government Agency Mortgage-Backed Securities Sold Short | (2.6%) |
| Written Options | (0.0%) |
| Net Other Assets and Liabilities<sup>(1)</sup> | (0.9%) |
| Total | 100.0% |

---

**Credit Quality <sup>(2)</sup>**![Graphical Representation - Allocation 2 Chart](chartimages_11365074.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, 2025. 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 February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.69%. Additionally, under the Fund's new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund's prospectus or statement of additional information.

#### 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.

**Item 2. Code of Ethics.**

The First Trust Exchange-Traded Fund IV ("Registrant") 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 ("Code of Ethics"). During the period covered by this Form N-CSR, there were no substantive amendments to the Code of Ethics and there were no waivers from the Code of Ethics granted to the Registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions.

A copy of the currently effective Code of Ethics will be filed with the Registrant's annual Form N-CSR.

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

Not applicable to semi-annual reports on Form N-CSR.

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

Not applicable to semi-annual reports on Form N-CSR.

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

&nbsp;&nbsp;&nbsp;&nbsp;(a) Not applicable to semi-annual reports on Form N-CSR.

&nbsp;&nbsp;&nbsp;&nbsp;(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 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 semi-annual financial statement(s) required, and for the periods specified, by Regulation S-X.

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

Semi-Annual Financial Statements and Other Information <br> For the Six Months Ended January 31, 2026

![](imgdfb928bd1.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 AAA CMBS ETF (CAAA) <br> First Trust Structured Credit Income Opportunities ETF (SCIO)

------

**Table of Contents** 

**First Trust Exchange-Traded Fund IV**

**Semi-Annual Financial Statements and Other Information**

**January 31, 2026** 

---

| | |
|:---|:---|
| [Portfolio of Investments](#xx_28483271-d736-4452-932b-ee2b2c58c868_SOI-TOC-ScheduleofInvestments-4634_1) |  |
| [First Trust Core Investment Grade ETF (FTCB)](#xx_28483271-d736-4452-932b-ee2b2c58c868_SOI-TOC-ScheduleofInvestments-4634_1) | 1 |
| [First Trust AAA CMBS ETF (CAAA)](#xx_28483271-d736-4452-932b-ee2b2c58c868_SOI-TOC-ScheduleofInvestments-4661_1) | 26 |
| [First Trust Structured Credit Income Opportunities ETF (SCIO)](#xx_28483271-d736-4452-932b-ee2b2c58c868_SOI-TOC-ScheduleofInvestments-4663_1) | 32 |
| [Statements of Assets and Liabilities](#xx_28483271-d736-4452-932b-ee2b2c58c868_SAL1-TOC-StatementofAssetsandLiabilities-4634_2) | 46 |
| [Statements of Operations](#xx_28483271-d736-4452-932b-ee2b2c58c868_SOP1-TOC-StatementofOperations-4634_1) | 47 |
| [Statements of Changes in Net Assets](#xx_28483271-d736-4452-932b-ee2b2c58c868_SOC1-TOC-StatementofChanges-4634_1) | 48 |
| [Financial Highlights](#xx_28483271-d736-4452-932b-ee2b2c58c868_FIHI-TOC-FinancialHighlights-4634_1) | 50 |
| [Notes to Financial Statements](#xx_28483271-d736-4452-932b-ee2b2c58c868_NTF-TOC-NotestoFinancialStatements-4634_1) | 53 |
| [Other Information](#xx_28483271-d736-4452-932b-ee2b2c58c868_AI-TOC-AdditionalInformation-4634_1) | 65 |

---

**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**

**January 31, 2026 (Unaudited)**

&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 — 30.9%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 30.9%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 30.9%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 30.9%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 30.9%** |
|  | **Collateralized Mortgage Obligations — 18.2%** | **Collateralized Mortgage Obligations — 18.2%** | **Collateralized Mortgage Obligations — 18.2%** |  |
|  | Federal Home Loan Mortgage Corporation |  |  |  |
| $2698491 | Series 2015-4499, Class CZ | 3.50% | 08/15/45 | $2389072 |
| 2247218 | Series 2016-4639, Class HZ | 3.25% | 04/15/53 | 1891259 |
| 377777 | Series 2019-4942, Class FA, 30 Day Average SOFR + CSA + <br> 0.50% (a) | 4.31% | 01/25/50 | 371508 |
| 3615690 | Series 2022-5202, Class NV | 3.00% | 01/25/37 | 3337300 |
| 4274484 | Series 2022-5224, Class DZ | 4.00% | 04/25/52 | 3922793 |
| 12670000 | Series 2022-5224, Class HL | 4.00% | 04/25/52 | 11859142 |
| 9427138 | Series 2022-5259, Class FA, 30 Day Average SOFR + 0.70% (a) | 4.40% | 09/25/52 | 9397091 |
| 4156445 | Series 2022-5266, Class FA, 30 Day Average SOFR + 0.82% (a) | 4.52% | 09/25/52 | 4145653 |
| 9110400 | Series 2023-5325, Class SA, (30 Day Average SOFR) ×-2+ <br> 11.40% (b) | 4.01% | 11/25/52 | 8453049 |
| 7103070 | Series 2023-5351, Class EO, PO | (c) | 10/25/53 | 5960012 |
| 4855564 | Series 2024-5435, Class BS, (30 Day Average SOFR) ×-2+ <br> 11.93% (b) | 4.53% | 07/25/54 | 4490684 |
| 2652737 | Series 2024-5460, Class FN, 30 Day Average SOFR + 1.10% (a) | 4.80% | 10/25/54 | 2668129 |
| 6673850 | Series 2024-5476, Class FA, 30 Day Average SOFR + 1.10% (a) | 4.80% | 11/25/54 | 6713500 |
| 839494 | Series 2024-5478, Class NF, 30 Day Average SOFR + 1.30% (a) | 5.00% | 12/25/54 | 847790 |
| 3498790 | Series 2024-5487, Class ZM | 3.50% | 12/25/54 | 2957415 |
| 4722732 | Series 2025-5500, Class CZ | 4.50% | 02/25/55 | 4207372 |
| 8847321 | Series 2025-5506, Class DZ | 3.50% | 08/25/42 | 7459946 |
|  | Federal Home Loan Mortgage Corporation Seasoned Credit Risk <br> Transfer Trust |  |  |  |
| 1136733 | Series 2017-1, Class HA | 3.00% | 01/25/56 | 1085757 |
| 1636445 | Series 2017-2, Class MA | 3.00% | 08/25/56 | 1551662 |
| 2262474 | Series 2018-1, Class MA | 3.00% | 05/25/57 | 2140891 |
| 1365991 | Series 2018-1, Class MT | 3.00% | 05/25/57 | 1169393 |
| 647614 | Series 2018-3, Class HA | 3.00% | 08/25/57 | 612958 |
| 3740144 | Series 2018-3, Class HV | 3.00% | 08/25/57 | 3379178 |
| 372097 | Series 2018-3, Class MA | 3.50% | 08/25/57 | 365792 |
| 10089831 | Series 2018-4, Class MA | 3.50% | 03/25/58 | 9878117 |
| 15000000 | Series 2018-4, Class MB | 3.50% | 03/25/58 | 12438732 |
| 1652291 | Series 2019-1, Class MA | 3.50% | 07/25/58 | 1618952 |
| 2715473 | Series 2019-2, Class HV | 3.00% | 08/25/58 | 2452939 |
| 3471096 | Series 2019-2, Class MA | 3.50% | 08/26/58 | 3380484 |
| 7339445 | Series 2019-2, Class MV | 3.50% | 08/25/58 | 6980744 |
| 9062181 | Series 2019-3, Class MA | 3.50% | 10/25/58 | 8876882 |
| 3046879 | Series 2019-3, Class MV | 3.50% | 10/25/58 | 2918204 |
| 546066 | Series 2019-4, Class HA | 3.00% | 02/25/59 | 509675 |
| 369151 | Series 2019-4, Class MA | 3.00% | 02/25/59 | 347361 |
| 4721830 | Series 2019-4, Class MV | 3.00% | 02/25/59 | 4177828 |
|  | Federal Home Loan Mortgage Corporation Seasoned Loans <br> Structured Transaction Trust |  |  |  |
| 232804 | Series 2018-2, Class A2 | 3.50% | 11/25/28 | 227155 |
| 421061 | Series 2019-2, Class A1C | 2.75% | 09/25/29 | 405476 |
| 145437 | Series 2019-3, Class A1C | 2.75% | 11/25/29 | 139194 |
| 560847 | Series 2020-2, Class AC | 2.00% | 09/25/30 | 516819 |
| 906063 | Series 2024-2, Class VF, 30 Day Average SOFR + 1.25% (a) (d) | 4.95% | 10/25/34 | 918251 |
| 7100000 | Series 2025-1, Class A2 | 3.00% | 05/25/35 | 6183330 |
| 16124000 | Series 2025-2, Class A2 | 3.00% | 10/25/35 | 13829097 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 Home Loan Mortgage Corporation STACR REMIC Trust |  |  |  |
| $5260684 | Series 2024-DNA2, Class A1, 30 Day Average SOFR + <br> 1.25% (a) (d) | 4.95% | 05/25/44 | $5284666 |
| 653333 | Series 2024-HQA2, Class A1, 30 Day Average SOFR + <br> 1.25% (a) (d) | 4.95% | 08/25/44 | 656112 |
| 1070000 | Series 2025-DNA1, Class A1, 30 Day Average SOFR + <br> 0.95% (a) (d) | 4.65% | 01/25/45 | 1071877 |
| 1375000 | Series 2025-HQA1, Class A1, 30 Day Average SOFR + <br> 0.95% (a) (d) | 4.65% | 02/25/45 | 1376985 |
|  | Federal National Mortgage Association |  |  |  |
| 6083063 | Series 2012-118, Class VZ | 3.00% | 11/25/42 | 5636346 |
| 3882532 | Series 2014-60, Class EZ | 3.00% | 10/25/44 | 3584075 |
| 1439150 | Series 2015-65, Class CZ | 3.50% | 09/25/45 | 1265546 |
| 260169 | Series 2018-45, Class FT, 30 Day Average SOFR + CSA + <br> 0.30% (a) | 4.11% | 06/25/48 | 253889 |
| 130543 | Series 2019-33, Class F, 30 Day Average SOFR + CSA + <br> 0.45% (a) | 4.26% | 07/25/49 | 128543 |
| 313390 | Series 2020-47, Class FA, 30 Day Average SOFR + CSA + <br> 0.40% (a) | 4.21% | 07/25/50 | 307285 |
| 9931141 | Series 2022-29, Class KZ | 1.50% | 06/25/42 | 7536148 |
| 2879774 | Series 2022-31, Class GZ | 2.00% | 03/25/52 | 2113901 |
| 7199668 | Series 2022-57, Class FB, 30 Day Average SOFR + 0.70% (a) | 4.40% | 09/25/52 | 7153422 |
| 8287147 | Series 2022-62, Class FM, 30 Day Average SOFR + 0.65% (a) | 4.52% | 09/25/52 | 8246605 |
| 9693482 | Series 2022-66, Class CF, 30 Day Average SOFR + 0.80% (a) | 4.50% | 10/25/52 | 9663010 |
| 4112597 | Series 2022-69, Class FA, 30 Day Average SOFR + 0.82% (a) | 4.52% | 10/25/52 | 4101910 |
| 4576666 | Series 2022-70, Class FA, 30 Day Average SOFR + 0.86% (a) | 4.56% | 10/25/52 | 4569765 |
| 7164306 | Series 2023-54, Class PO, PO | (c) | 11/25/53 | 6276919 |
| 4037523 | Series 2024-20, Class ZQ | 4.00% | 10/25/45 | 3617127 |
| 949362 | Series 2024-39, Class AV | 3.00% | 11/25/33 | 909587 |
| 3089078 | Series 2024-81, Class FE, 30 Day Average SOFR + 1.15% (a) | 4.85% | 07/25/54 | 3108859 |
| 884510 | Series 2024-84, Class FD, 30 Day Average SOFR + 1.15% (a) | 4.85% | 11/25/54 | 890619 |
| 17124792 | Series 2024-98, Class FG, 30 Day Average SOFR + 1.00% (a) | 4.70% | 11/25/54 | 17203655 |
| 1629998 | Series 2025-32, Class FD, 30 Day Average SOFR + 1.75% (a) | 5.45% | 05/25/55 | 1653977 |
| 11907450 | Series 2025-49, Class FA, 30 Day Average SOFR + 0.80% (a) | 4.50% | 06/25/55 | 11907830 |
| 7938313 | Series 2025-101, Class CZ | 3.00% | 07/25/51 | 4974236 |
|  | Government National Mortgage Association |  |  |  |
| 2606941 | Series 2018-89, Class VZ | 3.50% | 06/20/48 | 2354760 |
| 4988081 | Series 2021-105, Class DT | 5.50% | 06/20/51 | 5123753 |
| 6620461 | Series 2022-9, Class AC | 5.50% | 01/20/52 | 6841076 |
| 6524091 | Series 2022-9, Class GJ | 5.50% | 01/20/52 | 6741663 |
| 4857663 | Series 2022-139, Class AL | 4.00% | 07/20/51 | 4439985 |
| 14787254 | Series 2024-79, Class VB, (30 Day Average SOFR) ×-1.50+ <br> 10.95% (b) | 5.40% | 05/20/54 | 14307647 |
| 10361707 | Series 2024-181, Class FQ, 30 Day Average SOFR + 1.15% (a) | 4.85% | 11/20/54 | 10444667 |
| 4145812 | Series 2025-83, Class SB, (30 Day Average SOFR) ×-2.50+ <br> 14.50% (b) | 5.24% | 05/20/55 | 4059596 |
| 4140314 | Series 2025-95, Class DC, (30 Day Average SOFR) ×-2.50+ <br> 14.63% (b) | 5.37% | 05/20/55 | 3904585 |
| 8529908 | Series 2025-98, Class SX, (30 Day Average SOFR) ×-1.80+ <br> 10.44% (b) | 3.77% | 06/20/55 | 7937968 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |
|  | Government National Mortgage Association (Continued) |  |  |  |
| $5045097 | Series 2025-100, Class JS, (30 Day Average SOFR) ×-2.75+ <br> 15.95% (b) | 5.77% | 06/20/55 | $4891553 |
| 8130716 | Series 2025-131, Class ST, (30 Day Average SOFR) ×-1.80+ <br> 10.89% (b) | 4.22% | 08/20/55 | 7204391 |
| 15970031 | Series 2025-164, Class PO | (c) | 08/20/54 | 12748021 |
|  |  |  |  | 371669145 |
|  | **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 |  |  |  |
| 5795000 | Series 2020-RR07, Class BX, IO (e) | 2.61% | 10/27/28 | 304417 |
| 5778199 | Series 2020-RR14, Class X, IO (f) | 2.13% | 03/27/34 | 741724 |
|  | Federal Home Loan Mortgage Corporation Multifamily PC REMIC <br> Trust |  |  |  |
| 23500000 | Series 2019-RR01, Class X, IO (e) | 1.53% | 06/25/28 | 680064 |
|  | Federal Home Loan Mortgage Corporation Multifamily Structured <br> Pass Through Certificates |  |  |  |
| 4950000 | Series 2019-K094, Class XAM, IO (f) | 1.15% | 06/25/29 | 179642 |
| 5249438 | Series 2019-K097, Class X1, IO (f) | 1.08% | 07/25/29 | 172987 |
| 23611742 | Series 2019-K101, Class X1, IO (e) | 0.83% | 10/25/29 | 628871 |
| 345909 | Series 2019-K103, Class A1 | 2.31% | 06/25/29 | 337451 |
| 2834303 | Series 2019-K736, Class X1, IO (f) | 1.26% | 07/25/26 | 7905 |
| 217105 | Series 2019-K1510, Class A3 | 3.79% | 01/25/34 | 207032 |
| 670815 | Series 2019-K1510, Class X1, IO (f) | 0.48% | 01/25/34 | 18430 |
| 26474364 | Series 2019-K1512, Class X1, IO (f) | 0.90% | 04/25/34 | 1317179 |
| 24850899 | Series 2020-K104, Class X1, IO (f) | 1.11% | 01/25/30 | 908715 |
| 5200000 | Series 2020-K104, Class XAM, IO (f) | 1.38% | 01/25/30 | 255589 |
| 18755786 | Series 2020-K110, Class X1, IO (f) | 1.64% | 04/25/30 | 1058447 |
| 33849577 | Series 2020-K115, Class X1, IO (f) | 1.31% | 06/25/30 | 1641474 |
| 7764844 | Series 2020-K116, Class X1, IO (f) | 1.41% | 07/25/30 | 394117 |
| 8321617 | Series 2020-K118, Class X1, IO (f) | 0.95% | 09/25/30 | 303856 |
| 71540129 | Series 2020-K120, Class X1, IO (f) | 1.03% | 10/25/30 | 2780879 |
| 399408 | Series 2020-K1517, Class X1, IO (f) | 1.32% | 07/25/35 | 35836 |
| 8422963 | Series 2020-KG03, Class X1, IO (f) | 1.36% | 06/25/30 | 404540 |
| 9667166 | Series 2020-KG04, Class X1, IO (f) | 0.84% | 11/25/30 | 314913 |
| 29724579 | Series 2021-K130, Class X1, IO (f) | 1.03% | 06/25/31 | 1354103 |
| 92001300 | Series 2021-K132, Class X1, IO (f) | 0.51% | 08/25/31 | 2203891 |
| 2167563 | Series 2021-K743, Class X1, IO (f) | 0.90% | 05/25/28 | 39810 |
| 16658785 | Series 2021-KG05, Class X1, IO (f) | 0.31% | 01/25/31 | 214322 |
| 267904 | Series 2022-K142, Class A1 | 2.40% | 12/25/31 | 252049 |
| 491667 | Series 2022-K152, Class A1 | 3.78% | 01/25/32 | 490140 |
| 116788000 | Series 2024-K164, Class XAM, IO (f) | 0.27% | 06/25/34 | 2689931 |
| 4437000 | Series 2024-K165, Class XAM, IO (f) | 0.91% | 09/25/34 | 300152 |
| 22349000 | Series 2024-K167, Class XAM, IO (f) | 0.37% | 11/25/34 | 654770 |
| 919000 | Series 2024-K757, Class XAM, IO (f) | 0.99% | 08/25/31 | 43713 |
| 325000 | Series 2024-KJ51, Class A2 | 4.70% | 01/25/32 | 329719 |
| 300000 | Series 2024-KJ52, Class A2 | 4.76% | 01/25/32 | 305015 |
| 71372531 | Series 2025-K541, Class X1, IO (f) | 0.81% | 02/25/30 | 1707795 |
| 71855593 | Series 2025-K546, Class X1, IO (f) | 0.89% | 05/25/30 | 2456534 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 National Mortgage Association Alternative Credit <br> Enhancement Securities |  |  |  |
| $353443 | Series 2024-M3, Class Z (f) | 4.55% | 04/25/53 | $288960 |
|  | Government National Mortgage Association |  |  |  |
| 10943960 | Series 2021-31, Class IO, IO (f) | 0.94% | 01/16/61 | 761193 |
| 30041862 | Series 2024-32, IO (f) | 0.70% | 06/16/63 | 1559440 |
| 13193264 | Series 2025-21, Class IO, IO (f) | 0.95% | 04/16/65 | 928684 |
| 24200861 | Series 2025-153, Class IO, IO (f) | 0.85% | 09/16/67 | 1825887 |
| 64313579 | Series 2025-206, Class IO, IO (f) | 0.80% | 04/16/64 | 3902529 |
|  |  |  |  | 35002705 |
|  | **Mortgage-Backed Securities — 0.1%** | **Mortgage-Backed Securities — 0.1%** | **Mortgage-Backed Securities — 0.1%** |  |
|  | Federal Home Loan Mortgage Corporation |  |  |  |
| 887000 | TBA (g) | 4.50% | 02/01/56 | 869128 |
|  | Federal National Mortgage Association |  |  |  |
| 862000 | TBA (g) | 5.00% | 04/01/56 | 859809 |
|  |  |  |  | 1728937 |
|  | **Pass-Through Securities — 10.9%** | **Pass-Through Securities — 10.9%** | **Pass-Through Securities — 10.9%** |  |
|  | Federal Home Loan Mortgage Corporation | Federal Home Loan Mortgage Corporation | Federal Home Loan Mortgage Corporation | Federal Home Loan Mortgage Corporation |
| 1971253 | Pool Q43173  | 3.00% | 09/01/46 | 1793406 |
| 765228 | Pool RB5112  | 2.50% | 05/01/41 | 693801 |
| 5483517 | Pool RB5126  | 2.50% | 09/01/41 | 4938338 |
| 1571237 | Pool RE6076  | 2.00% | 12/01/50 | 1246124 |
| 3288259 | Pool SD7309  | 4.00% | 02/01/45 | 3207803 |
| 567257 | Pool SD7550  | 3.00% | 02/01/52 | 514660 |
| 5181775 | Pool SL0847  | 3.50% | 04/01/49 | 4858994 |
| 903833 | Pool ZS9776  | 3.50% | 08/01/46 | 854640 |
| 3932879 | Pool ZT0794  | 4.50% | 10/01/48 | 3921911 |
| 16645420 | Pool ZT2264  | 4.00% | 03/01/44 | 16386954 |
|  | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| 451493 | Pool 310208  | 3.00% | 03/01/48 | 402721 |
| 444457 | Pool 310211  | 3.50% | 07/01/48 | 415714 |
| 3697789 | Pool AL8400  | 3.00% | 08/01/43 | 3425496 |
| 5320550 | Pool AL9394  | 3.00% | 11/01/46 | 4796196 |
| 2027111 | Pool AS5843  | 4.00% | 09/01/45 | 1970508 |
| 235037 | Pool BF0207  | 4.50% | 04/01/47 | 233826 |
| 4385016 | Pool BM6210  | 3.50% | 12/01/47 | 4101926 |
| 8922925 | Pool BM6429  | 3.00% | 09/01/48 | 7959307 |
| 1603635 | Pool BM7345  | 4.50% | 03/01/50 | 1547803 |
| 325801 | Pool BM7521  | 3.50% | 10/01/48 | 306812 |
| 3636299 | Pool BM7687  | 3.00% | 11/01/46 | 3329462 |
| 4575844 | Pool BM7699  | 3.50% | 02/01/47 | 4354243 |
| 3517495 | Pool BM7914  | 2.00% | 03/01/52 | 2789676 |
| 4918490 | Pool FA0606  | 3.50% | 09/01/47 | 4684979 |
| 9407854 | Pool FA1024  | 2.50% | 05/01/51 | 8022103 |
| 9749839 | Pool FA1265  | 4.50% | 12/01/50 | 9722652 |
| 2041646 | Pool FM9416  | 3.50% | 07/01/45 | 1934603 |
| 8353119 | Pool FM9645  | 4.50% | 11/01/49 | 8329827 |
| 345508 | Pool FM9712  | 3.50% | 11/01/50 | 326297 |
| 2593699 | Pool FP0122  | 4.50% | 07/01/51 | 2573762 |
| 5736568 | Pool FS0704  | 4.00% | 03/01/47 | 5585866 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 (Continued) | Federal National Mortgage Association (Continued) | Federal National Mortgage Association (Continued) | Federal National Mortgage Association (Continued) |
| $4350209 | Pool FS1046  | 4.50% | 11/01/49 | $4342474 |
| 4125905 | Pool FS6440  | 4.00% | 10/01/48 | 4017800 |
| 11484716 | Pool FS8780  | 3.00% | 07/01/50 | 10442326 |
| 13455722 | Pool FS8862  | 3.50% | 05/01/48 | 12746456 |
| 5427319 | Pool FS9392  | 3.50% | 05/01/49 | 5095817 |
| 1077110 | Pool MA1582  | 3.50% | 09/01/43 | 1024835 |
| 2208596 | Pool MA4025  | 2.50% | 05/01/50 | 1845019 |
| 6434677 | Pool MA4320  | 2.50% | 04/01/51 | 5347422 |
| 6733000 | Pool TBA (g) | 4.00% | 02/15/56 | 6431126 |
| 3523000 | Pool TBA (g) | 5.00% | 02/15/56 | 3522855 |
| 674000 | Pool TBA (g) | 5.50% | 02/15/56 | 683481 |
| 296000 | Pool TBA (g) | 4.50% | 03/01/56 | 289654 |
| 8218000 | Pool TBA (g) | 4.00% | 03/15/56 | 7840878 |
| 1175000 | Pool TBA (g) | 5.00% | 03/15/56 | 1173116 |
| 9782000 | Pool TBA (g) | 5.50% | 03/15/56 | 9906991 |
| 4903000 | Pool TBA  | 3.50% | 04/15/56 | 4523727 |
| 1076000 | Pool TBA (g) | 5.50% | 04/15/56 | 1088950 |
|  | Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
| 23199115 | Pool MA7192  | 2.00% | 02/20/51 | 19324420 |
| 2434000 | Pool TBA  | 5.50% | 03/15/56 | 2457734 |
| 3638000 | Pool TBA  | 5.50% | 04/15/56 | 3669922 |
|  |  |  |  | 221005413 |
|  | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | 629406200 |
|  | (Cost $618,265,978) | (Cost $618,265,978) | (Cost $618,265,978) |  |
| **U.S. GOVERNMENT BONDS AND NOTES — 20.2%** | **U.S. GOVERNMENT BONDS AND NOTES — 20.2%** | **U.S. GOVERNMENT BONDS AND NOTES — 20.2%** | **U.S. GOVERNMENT BONDS AND NOTES — 20.2%** | **U.S. GOVERNMENT BONDS AND NOTES — 20.2%** |
| 300000 | U.S. Treasury Bond  | 4.50% | 08/15/39 | 299438 |
| 300000 | U.S. Treasury Bond  | 2.25% | 05/15/41 | 220072 |
| 1136000 | U.S. Treasury Bond  | 3.25% | 05/15/42 | 944056 |
| 300000 | U.S. Treasury Bond  | 4.00% | 11/15/42 | 273891 |
| 300000 | U.S. Treasury Bond  | 4.38% | 08/15/43 | 285656 |
| 3900000 | U.S. Treasury Bond  | 4.63% | 11/15/44 | 3806689 |
| 7000000 | U.S. Treasury Bond  | 5.00% | 05/15/45 | 7155312 |
| 1130000 | U.S. Treasury Bond  | 2.75% | 08/15/47 | 805478 |
| 2000000 | U.S. Treasury Bond  | 3.00% | 02/15/48 | 1484219 |
| 4000000 | U.S. Treasury Bond  | 3.13% | 05/15/48 | 3028750 |
| 3000000 | U.S. Treasury Bond  | 3.00% | 08/15/48 | 2214492 |
| 395000 | U.S. Treasury Bond  | 3.38% | 11/15/48 | 311448 |
| 3500000 | U.S. Treasury Bond  | 3.00% | 02/15/49 | 2570449 |
| 2076000 | U.S. Treasury Bond  | 2.00% | 02/15/50 | 1214136 |
| 8500000 | U.S. Treasury Bond  | 1.38% | 08/15/50 | 4170811 |
| 1500000 | U.S. Treasury Bond  | 1.63% | 11/15/50 | 785039 |
| 300000 | U.S. Treasury Bond  | 4.00% | 11/15/52 | 259078 |
| 6700000 | U.S. Treasury Bond  | 4.50% | 11/15/54 | 6287139 |
| 2000000 | U.S. Treasury Bond  | 4.63% | 02/15/55 | 1916406 |
| 24500000 | U.S. Treasury Bond, STRIPS  | (c) | 11/15/33 | 17722709 |
| 9800000 | U.S. Treasury Bond, STRIPS  | (c) | 02/15/34 | 6993240 |
| 15100000 | U.S. Treasury Bond, STRIPS  | (c) | 05/15/34 | 10644269 |
| 24800000 | U.S. Treasury Bond, STRIPS  | (c) | 08/15/34 | 17250800 |
| 30455000 | U.S. Treasury Bond, STRIPS  | (c) | 11/15/34 | 20946064 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** |
| $21100000 | U.S. Treasury Bond, STRIPS  | (c) | 02/15/35 | $14300865 |
| 21500000 | U.S. Treasury Bond, STRIPS  | (c) | 05/15/35 | 14405263 |
| 22750000 | U.S. Treasury Bond, STRIPS  | (c) | 08/15/35 | 15033009 |
| 10500000 | U.S. Treasury Bond, STRIPS  | (c) | 11/15/35 | 6855652 |
| 4280000 | U.S. Treasury Bond, STRIPS  | (c) | 02/15/36 | 2753938 |
| 16100000 | U.S. Treasury Bond, STRIPS  | (c) | 05/15/36 | 10225560 |
| 18600000 | U.S. Treasury Bond, STRIPS  | (c) | 08/15/36 | 11642104 |
| 4000000 | U.S. Treasury Bond, STRIPS  | (c) | 11/15/36 | 2472998 |
| 6500000 | U.S. Treasury Bond, STRIPS  | (c) | 02/15/37 | 3961512 |
| 11700000 | U.S. Treasury Bond, STRIPS  | (c) | 05/15/37 | 7041206 |
| 27400000 | U.S. Treasury Bond, STRIPS  | (c) | 05/15/38 | 15551987 |
| 26800000 | U.S. Treasury Bond, STRIPS  | (c) | 08/15/38 | 14990779 |
| 30000000 | U.S. Treasury Bond, STRIPS  | (c) | 02/15/39 | 16317491 |
| 30575000 | U.S. Treasury Bond, STRIPS  | (c) | 05/15/39 | 16421560 |
| 6000000 | U.S. Treasury Bond, STRIPS  | (c) | 08/15/39 | 3171701 |
| 10000000 | U.S. Treasury Bond, STRIPS  | (c) | 11/15/39 | 5213157 |
| 25700000 | U.S. Treasury Bond, STRIPS  | (c) | 02/15/40 | 13178940 |
| 27071000 | U.S. Treasury Bond, STRIPS  | (c) | 05/15/40 | 13686326 |
| 11000000 | U.S. Treasury Bond, STRIPS  | (c) | 08/15/40 | 5480725 |
| 8000000 | U.S. Treasury Bond, STRIPS  | (c) | 11/15/40 | 3931263 |
| 1000000 | U.S. Treasury Bond, STRIPS  | (c) | 02/15/41 | 483930 |
| 14600000 | U.S. Treasury Bond, STRIPS  | (c) | 11/15/41 | 6757111 |
| 7000000 | U.S. Treasury Bond, STRIPS  | (c) | 08/15/42 | 3162047 |
| 8000000 | U.S. Treasury Bond, STRIPS  | (c) | 11/15/42 | 3557051 |
| 2000000 | U.S. Treasury Bond, STRIPS  | (c) | 11/15/43 | 819788 |
| 2100000 | U.S. Treasury Bond, STRIPS  | (c) | 08/15/44 | 824034 |
| 1900000 | U.S. Treasury Bond, STRIPS  | (c) | 11/15/44 | 735547 |
| 4000000 | U.S. Treasury Inflation Indexed Bond  | 0.13% | 04/15/27 | 4545934 |
| 4000000 | U.S. Treasury Inflation Indexed Bond  | 1.25% | 04/15/28 | 4344575 |
| 16000000 | U.S. Treasury Inflation Indexed Bond  | 2.38% | 10/15/28 | 17594541 |
| 7000000 | U.S. Treasury Inflation Indexed Bond  | 1.63% | 10/15/29 | 7357191 |
| 10000000 | U.S. Treasury Note  | 3.50% | 12/15/28 | 9973828 |
| 4000000 | U.S. Treasury Note  | 4.13% | 03/31/32 | 4038594 |
| 7000000 | U.S. Treasury Note  | 4.00% | 04/30/32 | 7016406 |
| 2000000 | U.S. Treasury Note  | 4.13% | 05/31/32 | 2017461 |
| 10000000 | U.S. Treasury Note  | 4.00% | 06/30/32 | 10015625 |
| 20000000 | U.S. Treasury Note  | 4.25% | 05/15/35 | 20046875 |
|  | **Total U.S. Government Bonds and Notes** | **Total U.S. Government Bonds and Notes** | **Total U.S. Government Bonds and Notes** | 411516215 |
|  | (Cost $413,017,911) | (Cost $413,017,911) | (Cost $413,017,911) |  |
| **CORPORATE BONDS AND NOTES — 19.8%** | **CORPORATE BONDS AND NOTES — 19.8%** | **CORPORATE BONDS AND NOTES — 19.8%** | **CORPORATE BONDS AND NOTES — 19.8%** | **CORPORATE BONDS AND NOTES — 19.8%** |
|  | **Aerospace/Defense — 0.3%** | **Aerospace/Defense — 0.3%** | **Aerospace/Defense — 0.3%** |  |
| 1500000 | Boeing (The) Co. | 6.63% | 02/15/38 | 1678341 |
| 1750000 | Boeing (The) Co. | 3.55% | 03/01/38 | 1476726 |
| 3000000 | Boeing (The) Co. | 5.81% | 05/01/50 | 2965087 |
|  |  |  |  | 6120154 |
|  | **Banks — 2.1%** | **Banks — 2.1%** | **Banks — 2.1%** |  |
| 3170000 | Bank of America Corp. (h) | 4.57% | 04/27/33 | 3156194 |
| 3000000 | Citigroup, Inc. (h) | 4.91% | 05/24/33 | 3032245 |
| 1010000 | Fifth Third Bancorp (h) | 4.77% | 07/28/30 | 1023750 |
| 5000000 | Fifth Third Bancorp (h) | 4.34% | 04/25/33 | 4899357 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
|  | **Banks (Continued)** | **Banks (Continued)** | **Banks (Continued)** |  |
| $5000000 | Fifth Third Bancorp (h) | 5.14% | 01/29/37 | $4967585 |
| 2500000 | Goldman Sachs Group (The), Inc. (h) | 4.52% | 01/21/32 | 2499608 |
| 2500000 | Goldman Sachs Group (The), Inc. (h) | 3.10% | 02/24/33 | 2297855 |
| 4500000 | Huntington Bancshares, Inc. (h) | 5.02% | 05/17/33 | 4558765 |
| 2940000 | JPMorgan Chase & Co. (h) | 4.91% | 07/25/33 | 2988006 |
| 2450000 | Morgan Stanley (h) | 6.34% | 10/18/33 | 2674005 |
| 2000000 | Morgan Stanley (h) | 5.25% | 04/21/34 | 2052624 |
| 2750000 | Santander Holdings USA, Inc. (h) | 5.47% | 03/20/29 | 2813168 |
| 2500000 | Wells Fargo & Co. | 4.90% | 07/25/33 | 2532563 |
| 3500000 | Zions Bancorp | 4.70% | 08/18/28 | 3509253 |
|  |  |  |  | 43004978 |
|  | **Beverages — 0.4%** | **Beverages — 0.4%** | **Beverages — 0.4%** |  |
| 2000000 | Constellation Brands, Inc. | 4.80% | 05/01/30 | 2035466 |
| 2645000 | Constellation Brands, Inc. | 4.75% | 05/09/32 | 2666370 |
| 2500000 | Constellation Brands, Inc. | 4.95% | 11/01/35 | 2471040 |
| 425000 | Constellation Brands, Inc. | 4.50% | 05/09/47 | 357479 |
| 820000 | Constellation Brands, Inc. | 5.25% | 11/15/48 | 760778 |
| 1145000 | Molson Coors Beverage Co. | 4.20% | 07/15/46 | 925599 |
|  |  |  |  | 9216732 |
|  | **Biotechnology — 0.2%** | **Biotechnology — 0.2%** | **Biotechnology — 0.2%** |  |
| 3500000 | Illumina, Inc. | 4.75% | 12/12/30 | 3537771 |
|  | **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |  |
| 2000000 | Amrize Finance U.S. LLC | 5.40% | 04/07/35 | 2069768 |
| 2500000 | JH North America Holdings, Inc. (d) | 6.13% | 07/31/32 | 2549095 |
|  |  |  |  | 4618863 |
|  | **Commercial Services — 1.8%** | **Commercial Services — 1.8%** | **Commercial Services — 1.8%** |  |
| 2000000 | Ashtead Capital, Inc. (d) | 5.50% | 08/11/32 | 2073986 |
| 11105000 | Ashtead Capital, Inc. (d) | 5.80% | 04/15/34 | 11646387 |
| 5000000 | Global Payments, Inc. | 5.20% | 11/15/32 | 5007665 |
| 5000000 | Global Payments, Inc. | 5.55% | 11/15/35 | 4959934 |
| 2500000 | TR Finance LLC | 5.50% | 08/15/35 | 2599051 |
| 2470000 | TR Finance LLC | 5.85% | 04/15/40 | 2562349 |
| 4765000 | United Rentals North America, Inc. (d) | 6.00% | 12/15/29 | 4886450 |
| 2000000 | Verisk Analytics, Inc. | 5.25% | 03/15/35 | 2030321 |
| 510000 | Verisk Analytics, Inc. | 5.50% | 06/15/45 | 496354 |
|  |  |  |  | 36262497 |
|  | **Computers — 0.5%** | **Computers — 0.5%** | **Computers — 0.5%** |  |
| 4550000 | Crowdstrike Holdings, Inc. | 3.00% | 02/15/29 | 4356780 |
| 2500000 | Dell International LLC / EMC Corp. | 5.30% | 04/01/32 | 2569573 |
| 2500000 | Dell International LLC / EMC Corp. | 4.75% | 10/06/32 | 2494680 |
|  |  |  |  | 9421033 |
|  | **Distribution/Wholesale — 0.1%** | **Distribution/Wholesale — 0.1%** | **Distribution/Wholesale — 0.1%** |  |
| 3000000 | American Builders & Contractors Supply Co., Inc. (d) | 4.00% | 01/15/28 | 2962796 |
|  | **Diversified Financial Services — 1.2%** | **Diversified Financial Services — 1.2%** | **Diversified Financial Services — 1.2%** |  |
| 4000000 | Citadel Securities Global Holdings LLC (d) | 5.50% | 06/18/30 | 4111826 |
| 2000000 | LPL Holdings, Inc. | 5.15% | 06/15/30 | 2040860 |
| 9750000 | Rocket Cos., Inc. (d) | 6.38% | 08/01/33 | 10127432 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
|  | **Diversified Financial Services (Continued)** | **Diversified Financial Services (Continued)** | **Diversified Financial Services (Continued)** |  |
| $3500000 | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc. (d) | 3.88% | 03/01/31 | $3287846 |
| 5586000 | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc. (d) | 4.00% | 10/15/33 | 5132468 |
|  |  |  |  | 24700432 |
|  | **Electric — 1.8%** | **Electric — 1.8%** | **Electric — 1.8%** |  |
| 500000 | DTE Electric Co. | 5.85% | 05/15/55 | 515134 |
| 2340000 | Duke Energy Carolinas LLC | 5.30% | 02/15/40 | 2358386 |
| 1000000 | Duke Energy Progress LLC | 5.55% | 03/15/55 | 986252 |
| 3155000 | Florida Power & Light Co. | 5.30% | 04/01/53 | 3034613 |
| 5963000 | MidAmerican Energy Co. | 5.50% | 11/15/56 | 5826002 |
| 3000000 | Northern States Power Co. | 5.65% | 05/15/55 | 2999846 |
| 3500000 | NRG Energy, Inc. (d) | 4.73% | 10/15/30 | 3501472 |
| 5000000 | NRG Energy, Inc. (d) | 5.41% | 10/15/35 | 4979969 |
| 3500000 | Virginia Electric and Power Co., Series D | 5.60% | 09/15/55 | 3408113 |
| 750000 | Vistra Operations Co. LLC (d) | 4.60% | 10/15/30 | 748022 |
| 8500000 | Vistra Operations Co. LLC (d) | 5.70% | 12/30/34 | 8719410 |
|  |  |  |  | 37077219 |
|  | **Electrical Components & Equipments — 0.2%** | **Electrical Components & Equipments — 0.2%** | **Electrical Components & Equipments — 0.2%** |  |
| 4500000 | Molex Electronic Technologies LLC (d) | 5.25% | 04/30/32 | 4621250 |
|  | **Environmental Control — 0.0%** | **Environmental Control — 0.0%** | **Environmental Control — 0.0%** |  |
| 1000000 | Waste Management, Inc. | 5.35% | 10/15/54 | 974834 |
|  | **Food — 0.9%** | **Food — 0.9%** | **Food — 0.9%** |  |
| 1470000 | Campbell's (The) Co. | 5.40% | 03/21/34 | 1495601 |
| 4143000 | Conagra Brands, Inc. | 5.75% | 08/01/35 | 4219490 |
| 970000 | Conagra Brands, Inc. | 5.30% | 11/01/38 | 916515 |
| 4500000 | Conagra Brands, Inc. | 5.40% | 11/01/48 | 3973052 |
| 1000000 | Kraft Heinz Foods Co. | 5.20% | 03/15/32 | 1027993 |
| 3335000 | Kraft Heinz Foods Co. | 5.00% | 06/04/42 | 3043675 |
| 3500000 | Mars, Inc. (d) | 5.70% | 05/01/55 | 3490830 |
|  |  |  |  | 18167156 |
|  | **Food Service — 0.3%** | **Food Service — 0.3%** | **Food Service — 0.3%** |  |
| 5375000 | Sodexo, Inc. (d) | 5.80% | 08/15/35 | 5595651 |
|  | **Healthcare-Products — 1.4%** | **Healthcare-Products — 1.4%** | **Healthcare-Products — 1.4%** |  |
| 4000000 | 180 Medical, Inc. (d) | 3.88% | 10/15/29 | 3906786 |
| 5000000 | 180 Medical, Inc. (d) | 5.30% | 10/08/35 | 4966753 |
| 910000 | Alcon Finance Corp. (d) | 5.38% | 12/06/32 | 951628 |
| 2265000 | Alcon Finance Corp. (d) | 5.75% | 12/06/52 | 2282015 |
| 8000000 | Medline Borrower, L.P. (d) | 3.88% | 04/01/29 | 7828042 |
| 4555000 | Solventum Corp. | 5.60% | 03/23/34 | 4737496 |
| 2962000 | Solventum Corp. | 5.90% | 04/30/54 | 2978368 |
|  |  |  |  | 27651088 |
|  | **Healthcare-Services — 2.3%** | **Healthcare-Services — 2.3%** | **Healthcare-Services — 2.3%** |  |
| 4350000 | Centene Corp. | 4.25% | 12/15/27 | 4326247 |
| 2250000 | Centene Corp. | 3.00% | 10/15/30 | 2016613 |
| 975000 | Charles River Laboratories International, Inc. (d) | 3.75% | 03/15/29 | 941268 |
| 4000000 | Cigna Group (The) | 4.80% | 08/15/38 | 3812643 |
| 1750000 | Cigna Group (The) | 4.80% | 07/15/46 | 1548242 |
| 3500000 | Cigna Group (The) | 6.00% | 01/15/56 | 3572281 |
| 1475000 | Elevance Health, Inc. | 4.65% | 01/15/43 | 1314145 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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-Services (Continued)** | **Healthcare-Services (Continued)** | **Healthcare-Services (Continued)** |  |
| $525000 | Elevance Health, Inc. | 5.13% | 02/15/53 | $472779 |
| 100000 | Elevance Health, Inc. | 5.70% | 02/15/55 | 97611 |
| 3500000 | Elevance Health, Inc. | 5.70% | 09/15/55 | 3412925 |
| 4864000 | HCA, Inc. | 4.90% | 11/15/35 | 4778754 |
| 3585000 | HCA, Inc. | 4.63% | 03/15/52 | 2928043 |
| 65000 | IQVIA, Inc. (d) | 5.70% | 05/15/28 | 67025 |
| 3000000 | IQVIA, Inc. | 5.70% | 05/15/28 | 3093450 |
| 365000 | UnitedHealth Group, Inc. | 5.88% | 02/15/53 | 367008 |
| 3000000 | UnitedHealth Group, Inc. | 5.95% | 06/15/55 | 3066538 |
| 2000000 | Universal Health Services, Inc. | 4.63% | 10/15/29 | 2012439 |
| 4710000 | Universal Health Services, Inc. | 2.65% | 10/15/30 | 4295692 |
| 5000000 | Universal Health Services, Inc. | 5.05% | 10/15/34 | 4913880 |
|  |  |  |  | 47037583 |
|  | **Insurance — 1.8%** | **Insurance — 1.8%** | **Insurance — 1.8%** |  |
| 395000 | Arthur J. Gallagher & Co. | 6.50% | 02/15/34 | 435177 |
| 1330000 | Arthur J. Gallagher & Co. | 5.15% | 02/15/35 | 1341179 |
| 380000 | Arthur J. Gallagher & Co. | 6.75% | 02/15/54 | 421571 |
| 3805000 | Arthur J. Gallagher & Co. | 5.55% | 02/15/55 | 3642758 |
| 7115000 | Brown & Brown, Inc. | 4.20% | 03/17/32 | 6880549 |
| 3245000 | Brown & Brown, Inc. | 5.65% | 06/11/34 | 3343447 |
| 1000000 | Brown & Brown, Inc. | 4.95% | 03/17/52 | 868988 |
| 3000000 | Brown & Brown, Inc. | 6.25% | 06/23/55 | 3105037 |
| 5000000 | Ryan Specialty LLC (d) | 4.38% | 02/01/30 | 4877388 |
| 11053000 | Ryan Specialty LLC (d) | 5.88% | 08/01/32 | 11242656 |
|  |  |  |  | 36158750 |
|  | **Internet — 0.2%** | **Internet — 0.2%** | **Internet — 0.2%** |  |
| 3855000 | AppLovin Corp. | 5.38% | 12/01/31 | 3985490 |
|  | **Lodging — 0.2%** | **Lodging — 0.2%** | **Lodging — 0.2%** |  |
| 3250000 | Hyatt Hotels Corp. | 5.75% | 03/30/32 | 3406902 |
|  | **Media — 0.7%** | **Media — 0.7%** | **Media — 0.7%** |  |
| 6500000 | Charter Communications Operating LLC / Charter Communications <br> Operating Capital | 5.85% | 12/01/35 | 6471914 |
| 8500000 | FactSet Research Systems, Inc. | 3.45% | 03/01/32 | 7905464 |
|  |  |  |  | 14377378 |
|  | **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** |  |
| 2000000 | Amcor Flexibles North America, Inc. | 5.10% | 03/17/30 | 2056338 |
| 3000000 | Amcor Flexibles North America, Inc. | 5.50% | 03/17/35 | 3103779 |
| 45000 | Berry Global, Inc. (d) | 5.50% | 04/15/28 | 46398 |
| 300000 | Berry Global, Inc. | 5.65% | 01/15/34 | 313249 |
|  |  |  |  | 5519764 |
|  | **Pharmaceuticals — 0.4%** | **Pharmaceuticals — 0.4%** | **Pharmaceuticals — 0.4%** |  |
| 2525000 | Becton Dickinson & Co. | 4.69% | 12/15/44 | 2238330 |
| 5000000 | CVS Health Corp. | 6.20% | 09/15/55 | 5053192 |
|  |  |  |  | 7291522 |
|  | **Pipelines — 0.1%** | **Pipelines — 0.1%** | **Pipelines — 0.1%** |  |
| 3000000 | Cheniere Energy Partners, L.P. | 4.50% | 10/01/29 | 3012661 |
| 81000 | Sabine Pass Liquefaction LLC | 5.88% | 06/30/26 | 81089 |
|  |  |  |  | 3093750 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
|  | **Real Estate — 0.2%** | **Real Estate — 0.2%** | **Real Estate — 0.2%** |  |
| $4000000 | CoStar Group, Inc. (d) | 2.80% | 07/15/30 | $3684251 |
|  | **Real Estate Investment Trusts — 0.3%** | **Real Estate Investment Trusts — 0.3%** | **Real Estate Investment Trusts — 0.3%** |  |
| 1295000 | VICI Properties, L.P. | 4.95% | 02/15/30 | 1311106 |
| 5500000 | VICI Properties, L.P. | 5.13% | 05/15/32 | 5535331 |
|  |  |  |  | 6846437 |
|  | **Semiconductors — 0.2%** | **Semiconductors — 0.2%** | **Semiconductors — 0.2%** |  |
| 4167000 | Broadcom, Inc. | 5.70% | 01/15/56 | 4202124 |
|  | **Software — 1.1%** | **Software — 1.1%** | **Software — 1.1%** |  |
| 850000 | Atlassian Corp. | 5.50% | 05/15/34 | 868549 |
| 30000 | Fidelity National Information Services, Inc. | 5.10% | 07/15/32 | 30622 |
| 905000 | Fidelity National Information Services, Inc. | 3.10% | 03/01/41 | 668557 |
| 550000 | MSCI, Inc. (d) | 4.00% | 11/15/29 | 538995 |
| 8065000 | MSCI, Inc. (d) | 3.88% | 02/15/31 | 7742707 |
| 2667000 | MSCI, Inc. | 5.25% | 09/01/35 | 2677200 |
| 3500000 | MSCI, Inc. | 5.15% | 03/15/36 | 3453831 |
| 400000 | Oracle Corp. | 6.25% | 11/09/32 | 417682 |
| 750000 | Oracle Corp. | 4.90% | 02/06/33 | 722733 |
| 1000000 | Oracle Corp. | 5.50% | 08/03/35 | 975388 |
| 2500000 | Oracle Corp. | 5.20% | 09/26/35 | 2383872 |
| 1105000 | Oracle Corp. | 6.13% | 07/08/39 | 1092695 |
|  |  |  |  | 21572831 |
|  | **Telecommunications — 0.4%** | **Telecommunications — 0.4%** | **Telecommunications — 0.4%** |  |
| 2000000 | AT&T, Inc. | 5.55% | 11/01/45 | 1926628 |
| 405000 | AT&T, Inc. | 4.75% | 05/15/46 | 350069 |
| 2000000 | AT&T, Inc. | 5.70% | 11/01/54 | 1911224 |
| 5000 | AT&T, Inc. | 3.65% | 09/15/59 | 3303 |
| 3000000 | T-Mobile USA, Inc. | 5.13% | 05/15/32 | 3084406 |
|  |  |  |  | 7275630 |
|  | **Water — 0.2%** | **Water — 0.2%** | **Water — 0.2%** |  |
| 4333000 | American Water Capital Corp. | 5.70% | 09/01/55 | 4319686 |
|  | **Total Corporate Bonds and Notes** | **Total Corporate Bonds and Notes** | **Total Corporate Bonds and Notes** | 402704552 |
|  | (Cost $399,464,296) | (Cost $399,464,296) | (Cost $399,464,296) |  |
| **MORTGAGE-BACKED SECURITIES — 19.1%** | **MORTGAGE-BACKED SECURITIES — 19.1%** | **MORTGAGE-BACKED SECURITIES — 19.1%** | **MORTGAGE-BACKED SECURITIES — 19.1%** | **MORTGAGE-BACKED SECURITIES — 19.1%** |
|  | **Collateralized Mortgage Obligations — 13.7%** | **Collateralized Mortgage Obligations — 13.7%** | **Collateralized Mortgage Obligations — 13.7%** |  |
|  | Arroyo Mortgage Trust | Arroyo Mortgage Trust | Arroyo Mortgage Trust | Arroyo Mortgage Trust |
| 117112 | Series 2020-1, Class A1A (d) | 1.66% | 03/25/55 | 114006 |
|  | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust |
| 500000 | Series 2019-1, Class A3 (d) | 3.50% | 03/25/58 | 434792 |
| 152647 | Series 2019-2, Class A3 (d) | 3.50% | 10/25/44 | 147578 |
| 1040853 | Series 2022-NQM1, Class A1 (d) | 3.63% | 09/25/61 | 1034794 |
| 1200284 | Series 2025-NQM3, Class A1 (d) (i) | 5.57% | 03/25/65 | 1213398 |
|  | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust |
| 582284 | Series 2019-ATR2, Class B1 (d) (f) | 4.00% | 07/25/49 | 550618 |
| 371653 | Series 2019-ATR2, Class B2 (d) (f) | 4.00% | 07/25/49 | 350516 |
| 1546214 | Series 2025-8, Class A11, 30 Day Average SOFR + 1.30% (a) (d) | 5.00% | 06/25/56 | 1557499 |
| 2729488 | Series 2025-10, Class A11, 30 Day Average SOFR + <br> 1.30% (a) (d) | 5.00% | 07/25/56 | 2742755 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |
|  | CIM Trust | CIM Trust | CIM Trust | CIM Trust |
| $3379854 | Series 2019-INV3, Class B1A (d) | 4.66% | 08/25/49 | $3333648 |
|  | Citigroup Mortgage Loan Trust | Citigroup Mortgage Loan Trust | Citigroup Mortgage Loan Trust | Citigroup Mortgage Loan Trust |
| 380826 | Series 2014-A, Class B3 (d) (f) | 5.48% | 01/25/35 | 380047 |
|  | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust |
| 624223 | Series 2021-6, Class A1 (d) | 1.91% | 12/25/66 | 579253 |
| 1668121 | Series 2025-4, Class A1, steps up to 6.79% on 05/01/2029 (d) (i) | 5.79% | 04/25/70 | 1693471 |
|  | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust |
| 2290303 | Series 2024-R05, Class 2A1, 30 Day Average SOFR + <br> 1.00% (a) (d) | 4.70% | 07/25/44 | 2293693 |
| 2122943 | Series 2025-R01, Class 1A1, 30 Day Average SOFR + <br> 0.95% (a) (d) | 4.65% | 01/25/45 | 2125211 |
| 2124755 | Series 2025-R02, Class 1A1, 30 Day Average SOFR + <br> 1.00% (a) (d) | 4.70% | 02/25/45 | 2127584 |
|  | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust |
| 653741 | Series 2018-RPL9, Class A (d) | 3.85% | 09/25/57 | 635486 |
| 222736 | Series 2019-AFC1, Class A1 (d) | 3.57% | 07/25/49 | 216191 |
| 1577470 | Series 2021-RPL6, Class A1 (d) | 2.00% | 10/25/60 | 1441540 |
|  | Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust |
| 1638347 | Series 2025-H3, Class A1 (d) | 5.88% | 04/25/70 | 1665503 |
|  | CSMC Trust | CSMC Trust | CSMC Trust | CSMC Trust |
| 2527130 | Series 2018-J1, Class A2 (d) | 3.50% | 02/25/48 | 2303181 |
|  | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust |
| 289000 | Series 2019-2, Class M1 (d) | 3.47% | 11/25/59 | 280487 |
| 1683811 | Series 2024-INV2, Class A1, steps up to 6.04% <br> on 09/01/2028 (d) (i) | 5.04% | 10/25/69 | 1690649 |
| 3938076 | Series 2025-NQM6, Class A1 (d) (e) | 5.00% | 12/25/70 | 3959605 |
| 2875000 | Series 2026-AE1, Class A29, 30 Day Average SOFR + <br> 1.15% (a) (d) | 4.81% | 11/25/60 | 2882034 |
|  | FARM Mortgage Trust | FARM Mortgage Trust | FARM Mortgage Trust | FARM Mortgage Trust |
| 2631151 | Series 2024-1, Class A (d) (f) | 4.68% | 10/01/53 | 2578962 |
| 306963 | Series 2024-2, Class A (d) (f) | 5.18% | 08/01/54 | 304044 |
|  | Flagstar Mortgage Trust | Flagstar Mortgage Trust | Flagstar Mortgage Trust | Flagstar Mortgage Trust |
| 2078765 | Series 2018-2, Class B1 (d) (f) | 4.00% | 04/25/48 | 1952604 |
|  | GCAT Trust | GCAT Trust | GCAT Trust | GCAT Trust |
| 412505 | Series 2019-RPL1, Class A1 (d) | 2.65% | 10/25/68 | 404131 |
| 10366100 | Series 2025-INV5, Class A28, 30 Day Average SOFR + <br> 1.50% (a) (d) | 5.20% | 12/25/55 | 10460320 |
|  | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust |
| 148953 | Series 2020-NQM1, Class A3 (d) | 2.35% | 09/27/60 | 143171 |
| 9000000 | Series 2022-LTV1, Class A14 (d) | 3.00% | 06/25/52 | 6641406 |
| 4703510 | Series 2025-PJ11, Class A27, 30 Day Average SOFR + <br> 1.35% (a) (d) | 5.05% | 05/25/56 | 4735310 |
| 1500000 | Series 2026-PJ1, Class A27, 30 Day Average SOFR + <br> 1.25% (a) (d) | 4.96% | 06/25/56 | 1503310 |
|  | HOMES Trust | HOMES Trust | HOMES Trust | HOMES Trust |
| 5898179 | Series 2024-AFC1, Class A1, steps up to 6.22% <br> on 09/01/2028 (d) (i) | 5.22% | 08/25/59 | 5934635 |
| 2522167 | Series 2024-AFC2, Class A1 (d) | 5.58% | 10/25/59 | 2548950 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |
|  | HOMES Trust (Continued) | HOMES Trust (Continued) | HOMES Trust (Continued) | HOMES Trust (Continued) |
| $1969527 | Series 2025-AFC2, Class A1A, steps up to 6.47% <br> on 06/01/2029 (d) (i) | 5.47% | 06/25/60 | $1990957 |
| 3887646 | Series 2025-AFC4, Class A1 (d) (e) | 5.15% | 11/25/60 | 3918450 |
|  | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
| 685145 | Series 2017-6, Class A7 (d) | 3.50% | 12/25/48 | 628322 |
| 1096586 | Series 2019-6, Class B1 (d) (f) | 4.26% | 12/25/49 | 1047203 |
| 300537 | Series 2019-INV1, Class A11, 1 Mo. CME Term SOFR + CSA + <br> 0.95% (a) (d) | 4.74% | 09/25/49 | 296543 |
| 1606786 | Series 2019-INV1, Class B1 (d) (f) | 4.94% | 09/25/49 | 1592325 |
| 860657 | Series 2019-INV3, Class A13 (d) | 3.50% | 05/25/50 | 785151 |
| 507090 | Series 2019-INV3, Class A3 (d) | 3.50% | 05/25/50 | 462603 |
| 476322 | Series 2020-LTV2, Class B1 (d) (f) | 3.98% | 11/25/50 | 441749 |
| 5150000 | Series 2025-3, Class A1C, steps up to 6.64% <br> on 04/01/2029 (d) (i) | 5.64% | 09/25/55 | 5168738 |
| 5000000 | Series 2025-5MPR, Class A1C, steps up to 6.82% <br> on 05/01/2029 (d) (i) | 5.82% | 11/25/55 | 5057156 |
| 11250000 | Series 2026-1, Class A11, 30 Day Average SOFR + 1.10% (a) (d) | 4.80% | 07/25/56 | 11278038 |
|  | MetLife Securitization Trust | MetLife Securitization Trust | MetLife Securitization Trust | MetLife Securitization Trust |
| 316704 | Series 2018-1A, Class A (d) | 3.75% | 03/25/57 | 310000 |
|  | MFRA Trust | MFRA Trust | MFRA Trust | MFRA Trust |
| 1572634 | Series 2023-INV2, Class A1, steps up to 7.78% <br> on 09/01/2027 (d) (i) | 6.78% | 10/25/58 | 1586726 |
| 4627201 | Series 2024-NQM3, Class A1, steps up to 6.72% <br> on 12/01/2028 (d) (i) | 5.72% | 12/25/69 | 4686498 |
| 1648888 | Series 2025-NQM1, Class A1, steps up to 6.44% <br> on 02/01/2029 (d) (i) | 5.44% | 03/25/70 | 1666621 |
| 3954898 | Series 2025-NQM5, Class A1 (d) (e) | 5.19% | 11/25/70 | 3982067 |
|  | Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust |
| 927648 | Series 2025-SPL1, Class A1 (d) (e) | 4.25% | 02/25/65 | 913991 |
|  | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust |
| 1836778 | Series 2016-3A, Class B1 (d) | 4.00% | 09/25/56 | 1811129 |
| 6058544 | Series 2018-3A, Class A1 (d) | 4.50% | 05/25/58 | 5967387 |
| 2970907 | Series 2018-4A, Class A1S, 1 Mo. CME Term SOFR + CSA + <br> 0.75% (a) (d) | 4.54% | 01/25/48 | 2931512 |
|  | OBX Trust | OBX Trust | OBX Trust | OBX Trust |
| 4545215 | Series 2018-1, Class A2, 1 Mo. CME Term SOFR + <br> 0.76% (a) (d) | 4.44% | 06/25/57 | 4507763 |
| 606829 | Series 2019-EXP3, Class 2A1B, 1 Mo. CME Term SOFR + CSA <br> + 0.90% (a) (d) | 4.69% | 10/25/59 | 606938 |
| 2000000 | Series 2022-NQM2, Class A1B, steps up to 4.38% <br> on 02/01/2026 (d) (i) | 3.38% | 01/25/62 | 1846881 |
| 1674436 | Series 2025-NQM13, Class A1 (d) (e) | 5.44% | 05/25/65 | 1695497 |
| 14830000 | Series 2026-J1, Class AF, 30 Day Average SOFR + <br> 1.35% (a) (d) (j) | 5.02% | 02/25/56 | 14828889 |
|  | Onslow Bay Mortgage Loan Trust | Onslow Bay Mortgage Loan Trust | Onslow Bay Mortgage Loan Trust | Onslow Bay Mortgage Loan Trust |
| 269288 | Series 2021-NQM4, Class A1 (d) | 1.96% | 10/25/61 | 233902 |
| 2007976 | Series 2025-NQM6, Class A1, steps up to 6.60% <br> on 03/01/2029 (d) (i) | 5.60% | 03/25/65 | 2035650 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |
|  | PMT Loan Trust | PMT Loan Trust | PMT Loan Trust | PMT Loan Trust |
| $17735051 | Series 2025-CNF1, Class A35, 30 Day Average SOFR + <br> 1.35% (a) (d) | 5.05% | 10/25/56 | $17821662 |
| 4264322 | Series 2025-CNF2, Class A26, 30 Day Average SOFR + <br> 1.40% (a) (d) | 5.10% | 01/25/57 | 4284182 |
| 5557812 | Series 2025-INV9, Class A34, 30 Day Average SOFR + <br> 1.30% (a) (d) | 5.00% | 09/01/56 | 5584614 |
| 10100000 | Series 2026-INV1, Class A36, 30 Day Average SOFR + <br> 1.30% (a) (d) | 5.03% | 01/25/57 | 10148965 |
| 5000000 | Series 2026-J1, Class A25, 30 Day Average SOFR + <br> 1.15% (a) (d) | 4.85% | 01/25/57 | 5012473 |
|  | PRKCM Trust | PRKCM Trust | PRKCM Trust | PRKCM Trust |
| 3568102 | Series 2022-AFC2, Class A1 (d) | 5.34% | 08/25/57 | 3576666 |
| 2975363 | Series 2025-AFC2, Class A1 (d) (e) | 5.02% | 12/25/60 | 2987798 |
| 2011610 | Series 2025-HOME1, Class A1A, steps up to 6.55% <br> on 03/01/2029 (d) (i) | 5.55% | 02/25/60 | 2038313 |
| 854187 | Series 2025-HOME1, Class A1B, steps up to 6.65% <br> on 03/01/2029 (d) (i) | 5.65% | 02/25/60 | 865374 |
|  | PRPM LLC | PRPM LLC | PRPM LLC | PRPM LLC |
| 718970 | Series 2024-RPL2, Class A1, steps up to 4.50% <br> on 05/25/2028 (d) (i) | 3.50% | 05/25/54 | 704454 |
| 230539 | Series 2024-RPL3, Class A1, steps up to 5.00% <br> on 11/25/2028 (d) (i) | 4.00% | 11/25/54 | 226997 |
| 533608 | Series 2024-RPL4, Class A1, steps up to 5.00% <br> on 12/25/2028 (d) (i) | 4.00% | 12/25/54 | 525288 |
| 1293089 | Series 2025-RCF4, Class A1, steps up to 5.50% <br> on 08/01/2029 (d) (i) | 4.50% | 08/25/55 | 1283255 |
| 1472015 | Series 2025-RCF5, Class A1, steps up to 5.84% <br> on 10/01/2029 (d) (i) | 4.84% | 10/25/55 | 1478433 |
| 3884035 | Series 2025-RCF6, Class A1, steps up to 5.94% <br> on 12/01/2029 (d) (i) | 4.94% | 12/25/55 | 3889252 |
| 906097 | Series 2025-RPL3, Class A1, steps up to 4.25% <br> on 04/01/2028 (d) (i) | 3.25% | 04/25/55 | 881777 |
| 2033856 | Series 2025-RPL4, Class A1, steps up to 4.00% <br> on 05/01/2029 (d) (i) | 3.00% | 05/25/55 | 1948024 |
|  | PRPM Trust | PRPM Trust | PRPM Trust | PRPM Trust |
| 631735 | Series 2023-NQM3, Class A1, steps up to 7.22% <br> on 01/01/2028 (d) (i) | 6.22% | 11/25/68 | 638303 |
| 2600076 | Series 2025-NQM2, Class A1, steps up to 6.69% <br> on 05/01/2029 (d) (i) | 5.69% | 04/25/70 | 2630025 |
| 2260541 | Series 2025-NQM3, Class A1 (d) (e) | 5.61% | 05/25/70 | 2285445 |
| 4443961 | Series 2025-NQM6, Class A1 (d) (e) | 4.99% | 12/25/70 | 4457229 |
| 11580000 | Series 2026-RCF1, Class A1, steps up to 5.85% <br> on 01/01/2030 (d) (i) | 4.85% | 01/25/56 | 11639142 |
|  | Rate Mortgage Trust | Rate Mortgage Trust | Rate Mortgage Trust | Rate Mortgage Trust |
| 8708622 | Series 2025-J3, Class A27, 30 Day Average SOFR + <br> 1.55% (a) (d) | 5.25% | 11/25/55 | 8784575 |
|  | RUN Trust | RUN Trust | RUN Trust | RUN Trust |
| 3614871 | Series 2022-NQM1, Class A1 (d) | 4.00% | 03/25/67 | 3606103 |
|  | Santander Mortgage Asset Receivable Trust | Santander Mortgage Asset Receivable Trust | Santander Mortgage Asset Receivable Trust | Santander Mortgage Asset Receivable Trust |
| 3102268 | Series 2025-NQM2, Class A1 (d) (i) | 5.73% | 02/25/65 | 3144210 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |
|  | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust |
| $1734245 | Series 2022-3, Class A1 (d) | 4.16% | 03/25/67 | $1729922 |
|  | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
| 1653692 | Series 2019-HY2, Class A1, 1 Mo. CME Term SOFR + CSA + <br> 1.00% (a) (d) | 4.79% | 05/25/58 | 1693312 |
| 2033194 | Series 2022-1, Class A1 (d) | 3.75% | 07/25/62 | 1953760 |
| 1764437 | Series 2022-2, Class A1 (d) | 3.75% | 07/01/62 | 1683287 |
| 3526807 | Series 2022-3, Class A1 (d) | 3.75% | 08/01/62 | 3374874 |
|  | TRK Trust | TRK Trust | TRK Trust | TRK Trust |
| 2994340 | Series 2021-INV1, Class A1 (d) | 1.15% | 07/25/56 | 2720729 |
| 2254094 | Series 2022-INV1, Class A1 (d) | 2.58% | 02/25/57 | 2128021 |
|  | Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust |
| 2229218 | Series 2022-1, Class A1, steps up to 3.72% on 01/01/2026 (d) (i) | 3.72% | 01/25/67 | 2123248 |
| 2393956 | Series 2022-2, Class A1 (d) (i) | 4.26% | 02/25/67 | 2315179 |
| 1189677 | Series 2025-3, Class A1, steps up to 6.62% on 04/01/2029 (d) (i) | 5.62% | 05/25/70 | 1205893 |
|  | Vista Point Securitization Trust | Vista Point Securitization Trust | Vista Point Securitization Trust | Vista Point Securitization Trust |
| 270000 | Series 2020-1, Class M1 (d) | 4.15% | 03/25/65 | 268655 |
|  | Wells Fargo Mortgage Backed Securities Trust | Wells Fargo Mortgage Backed Securities Trust | Wells Fargo Mortgage Backed Securities Trust | Wells Fargo Mortgage Backed Securities Trust |
| 2197464 | Series 2018-1, Class B1 (d) (f) | 3.64% | 07/25/47 | 2079010 |
| 114927 | Series 2019-1, Class A1 (d) | 3.92% | 11/25/48 | 110000 |
|  |  |  |  | 279067517 |
|  | **Commercial Mortgage-Backed Securities — 5.4%** | **Commercial Mortgage-Backed Securities — 5.4%** | **Commercial Mortgage-Backed Securities — 5.4%** |  |
|  | 2023-MIC Trust (The) | 2023-MIC Trust (The) | 2023-MIC Trust (The) | 2023-MIC Trust (The) |
| 2330000 | Series 2023-MIC, Class A (d) (f) | 8.44% | 12/05/38 | 2518844 |
|  | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust |
| 6000000 | Series 2020-MF1, Class A4 (d) | 2.50% | 05/15/53 | 5623192 |
| 125000 | Series 2020-MF1, Class AS (d) | 3.06% | 05/15/53 | 117639 |
| 3143359 | Series 2020-MF1, Class XA, IO (d) (f) | 0.92% | 05/15/53 | 99147 |
| 1860000 | Series 2021-MF2, Class A4 (d) | 2.25% | 06/15/54 | 1675027 |
|  | BANK | BANK | BANK | BANK |
| 28486632 | Series 2019-BN19, Class XA, IO (f) | 0.94% | 08/15/61 | 775221 |
| 325000 | Series 2020-BN26, Class A3 | 2.16% | 03/15/63 | 301759 |
| 4784432 | Series 2020-BN26, Class XA, IO (f) | 1.19% | 03/15/63 | 172030 |
| 1486830 | Series 2020-BN29, Class A4 | 2.00% | 11/15/53 | 1317442 |
| 6874070 | Series 2020-BN29, Class XA, IO (f) | 1.30% | 11/15/53 | 342507 |
| 53428017 | Series 2025-BNK49, Class XA, IO (f) | 0.62% | 03/15/58 | 2492364 |
|  | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
| 3772000 | Series 2018-TALL, Class A, 1 Mo. CME Term SOFR + CSA + <br> 0.87% (a) (d) | 4.60% | 03/15/37 | 3607987 |
| 2800000 | Series 2020-C8, Class A5 | 2.04% | 10/15/53 | 2517553 |
| 1392000 | Series 2023-C20, Class A5 | 5.58% | 07/15/56 | 1461191 |
| 51837464 | Series 2025-C35, Class XA, IO (f) | 0.65% | 07/15/58 | 2600359 |
|  | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
| 8625536 | Series 2020-B21, Class XA, IO (f) | 1.41% | 12/17/53 | 454566 |
| 2700000 | Series 2021-B25, Class A4 | 2.27% | 04/15/54 | 2475698 |
|  | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
| 115000 | Series 2023-C6, Class ASB | 6.21% | 09/15/56 | 122846 |
| 2250000 | Series 2023-C7, Class A5 | 6.16% | 12/15/56 | 2408744 |
| 5823960 | Series 2024-5C3, Class XA, IO (f) | 1.12% | 02/15/57 | 169272 |
| 665000 | Series 2025-C11, Class ASB | 5.68% | 02/15/58 | 705852 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |
|  | BMO Mortgage Trust (Continued) | BMO Mortgage Trust (Continued) | BMO Mortgage Trust (Continued) | BMO Mortgage Trust (Continued) |
| $3091000 | Series 2025-C12, Class ASB | 5.76% | 06/15/58 | $3281740 |
| 35994460 | Series 2025-C13, Class XA, IO (f) | 1.01% | 10/15/58 | 2780997 |
|  | BOCA Commercial Mortgage Trust | BOCA Commercial Mortgage Trust | BOCA Commercial Mortgage Trust | BOCA Commercial Mortgage Trust |
| 1350000 | Series 2025-BOCA, Class A, 1 Mo. CME Term SOFR + <br> 1.60% (a) (d) | 5.28% | 12/15/42 | 1360562 |
|  | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust |
| 1700000 | Series 2025-1C, Class A (d) (f) | 5.55% | 06/15/44 | 1748460 |
|  | BWAY Trust | BWAY Trust | BWAY Trust | BWAY Trust |
| 2190000 | Series 2025-1535, Class A (d) (f) | 6.52% | 05/05/42 | 2262020 |
| 765000 | Series 2025-1535, Class B (d) (f) | 7.71% | 05/05/42 | 804164 |
|  | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust |
| 3081000 | Series 2020-VIV4, Class A (d) | 2.84% | 03/09/44 | 2877066 |
|  | BX Trust | BX Trust | BX Trust | BX Trust |
| 4000000 | Series 2025-DELC, Class A, 1 Mo. CME Term SOFR + <br> 1.55% (a) (d) | 5.23% | 12/15/42 | 4028646 |
| 2000000 | Series 2025-GW, Class A, 1 Mo. CME Term SOFR + <br> 1.60% (a) (d) | 5.28% | 07/15/42 | 2009279 |
| 1000000 | Series 2025-VOLT, Class A, 1 Mo. CME Term SOFR + <br> 1.70% (a) (d) | 5.38% | 12/15/44 | 1006382 |
|  | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending |
| 1449090 | Series 2019-CF1, Class A2 | 3.62% | 05/15/52 | 1434275 |
|  | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust |
| 74495 | Series 2017-C8, Class ASB | 3.37% | 06/15/50 | 74268 |
|  | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust |
| 2230000 | Series 2025-SFT, Class A (d) (f) | 5.66% | 04/15/42 | 2290166 |
| 62200000 | Series 2025-SFT, Class XA, IO (d) (f) | 0.31% | 04/15/42 | 549431 |
|  | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust |
| 573971 | Series 2018-C5, Class A3 | 3.96% | 06/10/51 | 570382 |
| 604384 | Series 2019-GC43, Class AAB | 2.96% | 11/10/52 | 590542 |
| 1310000 | Series 2020-420K, Class A (d) | 2.46% | 11/10/42 | 1183008 |
|  | COMM Mortgage Trust | COMM Mortgage Trust | COMM Mortgage Trust | COMM Mortgage Trust |
| 7850000 | Series 2024-277P, Class X, IO (d) (f) | 0.66% | 08/10/44 | 183443 |
|  | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust |
| 1420000 | Series 2019-UVIL, Class A (d) | 3.16% | 12/15/41 | 1347990 |
|  | Deutsche Bank Commercial Mortgage Trust | Deutsche Bank Commercial Mortgage Trust | Deutsche Bank Commercial Mortgage Trust | Deutsche Bank Commercial Mortgage Trust |
| 400000 | Series 2020-C9, Class A5 | 1.93% | 08/15/53 | 359728 |
|  | Fashion Show Mall LLC | Fashion Show Mall LLC | Fashion Show Mall LLC | Fashion Show Mall LLC |
| 1400000 | Series 2024-SHOW, Class A (d) (f) | 5.27% | 10/10/41 | 1426129 |
|  | FREMF Mortgage Trust | FREMF Mortgage Trust | FREMF Mortgage Trust | FREMF Mortgage Trust |
| 320387716 | Series 2018-K156, Class X2A, IO (d) | 0.10% | 07/25/36 | 1535618 |
|  | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust |
| 243227 | Series 2017-GS5, Class AAB | 3.47% | 03/10/50 | 242261 |
| 1752152 | Series 2019-GC39, Class XA, IO (f) | 1.07% | 05/10/52 | 52327 |
| 975000 | Series 2024-FAIR, Class A (d) (f) | 6.07% | 07/15/29 | 1007062 |
|  | Hilton USA Trust | Hilton USA Trust | Hilton USA Trust | Hilton USA Trust |
| 1395000 | Series 2016-HHV, Class A (d) | 3.72% | 11/05/38 | 1387904 |
| 1700000 | Series 2025-NVIL, Class A, 1 Mo. CME Term SOFR + <br> 1.74% (a) (d) | 5.42% | 07/15/42 | 1709135 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |
|  | Houston Galleria Mall Trust | Houston Galleria Mall Trust | Houston Galleria Mall Trust | Houston Galleria Mall Trust |
| $2750000 | Series 2025-HGLR, Class A (d) (f) | 5.46% | 02/05/45 | $2863191 |
|  | INT Commercial Mortgage Trust | INT Commercial Mortgage Trust | INT Commercial Mortgage Trust | INT Commercial Mortgage Trust |
| 1500000 | Series 2025-PLAZA, Class A (d) (f) | 5.04% | 11/05/37 | 1517385 |
|  | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust |
| 3085000 | Series 2025-PHNY, Class A, 1 Mo. CME Term SOFR + <br> 1.64% (a) (d) | 5.32% | 01/15/41 | 3098057 |
|  | JW Trust | JW Trust | JW Trust | JW Trust |
| 1240000 | Series 2024-BERY, Class A, 1 Mo. CME Term SOFR + <br> 1.59% (a) (d) | 5.27% | 11/15/39 | 1244721 |
|  | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust |
| 5601330 | Series 2019-L2, Class XA, IO (f) | 1.00% | 03/15/52 | 141529 |
|  | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust |
| 40317976 | Series 2023-1, Class XA, IO (f) | 0.86% | 05/15/56 | 1958651 |
|  | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust |
| 1313500 | Series 2025-PARK, Class A, 1 Mo. CME Term SOFR + <br> 1.39% (a) (d) | 5.07% | 10/15/40 | 1319410 |
|  | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust |
| 1520000 | Series 2025-299P, Class A (d) (f) | 5.66% | 02/10/47 | 1606082 |
|  | 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) (d) | 4.89% | 11/15/38 | 3101066 |
|  | 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) (d) | 4.94% | 05/15/38 | 3289899 |
|  | SKY Trust | SKY Trust | SKY Trust | SKY Trust |
| 3726980 | Series 2025-LINE, Class A, 1 Mo. CME Term SOFR + <br> 2.59% (a) (d) | 6.27% | 04/15/42 | 3753130 |
|  | SWCH Commercial Mortgage Trust | SWCH Commercial Mortgage Trust | SWCH Commercial Mortgage Trust | SWCH Commercial Mortgage Trust |
| 2745000 | Series 2025-DATA, Class A, 1 Mo. CME Term SOFR + <br> 1.44% (a) (d) | 5.12% | 02/15/42 | 2729333 |
|  | UBS Commercial Mortgage Trust | UBS Commercial Mortgage Trust | UBS Commercial Mortgage Trust | UBS Commercial Mortgage Trust |
| 22180142 | Series 2019-C17, Class XA, IO (f) | 1.44% | 10/15/52 | 955461 |
|  | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
| 12472751 | Series 2017-C41, Class XA, IO (f) | 1.14% | 11/15/50 | 183851 |
| 2737274 | Series 2018-C47, Class AS | 4.67% | 09/15/61 | 2729727 |
| 23351636 | Series 2019-C49, Class XA, IO (f) | 1.23% | 03/15/52 | 725979 |
| 433852 | Series 2020-C58, Class A3 | 1.81% | 07/15/53 | 394316 |
| 2950000 | Series 2022-C62, Class A4 | 4.00% | 04/15/55 | 2829367 |
| 2550000 | Series 2025-B33RP, Class A, 1 Mo. CME Term SOFR + <br> 1.35% (a) (d) | 5.03% | 08/15/42 | 2555045 |
|  | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust |
| 2175000 | Series 2025-DC, Class A (d) (f) | 5.53% | 07/15/40 | 2243619 |
|  |  |  |  | 109302044 |
|  | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | 388369561 |
|  | (Cost $383,669,261) | (Cost $383,669,261) | (Cost $383,669,261) |  |
| **ASSET-BACKED SECURITIES — 5.3%** | **ASSET-BACKED SECURITIES — 5.3%** | **ASSET-BACKED SECURITIES — 5.3%** | **ASSET-BACKED SECURITIES — 5.3%** | **ASSET-BACKED SECURITIES — 5.3%** |
|  | AIMCO CLO 17 Ltd. | AIMCO CLO 17 Ltd. | AIMCO CLO 17 Ltd. | AIMCO CLO 17 Ltd. |
| 590000 | Series 2022-17A, Class A1R, 3 Mo. CME Term SOFR + <br> 1.35% (a) (d) | 5.02% | 07/20/37 | 592093 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
|  | American Heritage Auto Receivables Trust | American Heritage Auto Receivables Trust | American Heritage Auto Receivables Trust | American Heritage Auto Receivables Trust |
| $640000 | Series 2022-17A, Class A3 (d) | 4.90% | 09/17/29 | $646907 |
|  | 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) (d) | 5.00% | 07/14/36 | 2004237 |
|  | 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) (d) | 5.06% | 10/16/28 | 250088 |
| 2500000 | Series 2025-1, Class A, 30 Day Average SOFR + 1.10% (a) (d) | 4.81% | 08/16/29 | 2497274 |
|  | CARLYLE US CLO Ltd. | CARLYLE US CLO Ltd. | CARLYLE US CLO Ltd. | CARLYLE US CLO Ltd. |
| 950000 | Series 2019-1A, Class A1B2, 3 Mo. CME Term SOFR + <br> 1.30% (a) (d) | 4.97% | 04/20/31 | 951133 |
|  | Cbam Ltd. | Cbam Ltd. | Cbam Ltd. | Cbam Ltd. |
| 1495000 | Series 2018-7A, Class B1, 3 Mo. CME Term SOFR + CSA + <br> 1.60% (a) (d) | 5.53% | 07/20/31 | 1499364 |
|  | Cedar Funding X CLO Ltd. | Cedar Funding X CLO Ltd. | Cedar Funding X CLO Ltd. | Cedar Funding X CLO Ltd. |
| 1000000 | Series 2019-10A, Class AR2, 3 Mo. CME Term SOFR + <br> 1.36% (a) (d) | 5.03% | 10/20/37 | 1003800 |
|  | Chase Auto Owner Trust | Chase Auto Owner Trust | Chase Auto Owner Trust | Chase Auto Owner Trust |
| 744310 | Series 2022-AA, Class A4 (d) | 3.99% | 03/27/28 | 744348 |
| 95000 | Series 2024-1A, Class A4 (d) | 5.05% | 10/25/29 | 97084 |
|  | CoreVest American Finance Trust | CoreVest American Finance Trust | CoreVest American Finance Trust | CoreVest American Finance Trust |
| 279662 | Series 2019-3, Class A (d) | 2.71% | 10/15/52 | 279184 |
| 186379 | Series 2020-1, Class A2 (d) | 2.30% | 03/15/50 | 179318 |
| 56298 | Series 2020-2, Class A (d) | 3.38% | 05/15/52 | 56210 |
| 1010000 | Series 2020-2, Class B (d) | 4.24% | 05/15/52 | 1006726 |
| 338934 | Series 2020-3, Class A (d) | 1.36% | 08/15/53 | 336196 |
| 1358856 | Series 2021-1, Class A (d) | 1.57% | 04/15/53 | 1341267 |
| 677671 | Series 2021-2, Class A (d) | 1.41% | 07/15/54 | 660239 |
|  | Dryden 85 CLO Ltd. | Dryden 85 CLO Ltd. | Dryden 85 CLO Ltd. | Dryden 85 CLO Ltd. |
| 500000 | Series 2020-85A, Class A1R2, 3 Mo. CME Term SOFR + <br> 1.38% (a) (d) | 5.05% | 07/15/37 | 501770 |
|  | 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) (d) | 4.97% | 07/20/38 | 2008000 |
|  | Empower CLO Ltd. | Empower CLO Ltd. | Empower CLO Ltd. | Empower CLO Ltd. |
| 2000000 | Series 2023-3A, Class AR, 3 Mo. CME Term SOFR + <br> 1.24% (a) (d) (k) | 0.00% | 01/20/39 | 2001048 |
|  | FNA VI LLC | FNA VI LLC | FNA VI LLC | FNA VI LLC |
| 539718 | Series 2021-1A, Class A (d) | 1.35% | 01/10/32 | 506465 |
|  | 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) (d) | 5.43% | 10/20/38 | 2001730 |
|  | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust |
| 692082 | Series 2024-3A, Class A3 (d) | 5.02% | 04/17/28 | 693093 |
|  | GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust |
| 812666 | Series 2023-1A, Class A3 (d) | 5.96% | 10/16/28 | 818754 |
|  | Gracie Point International Funding LLC | Gracie Point International Funding LLC | Gracie Point International Funding LLC | Gracie Point International Funding LLC |
| 1802000 | Series 2024-1A, Class A, 90 Day Average SOFR + 1.70% (a) (d) | 5.89% | 03/01/28 | 1802741 |
| 4296000 | Series 2025-1A, Class A, 30 Day Average SOFR + 1.50% (a) (d) | 5.30% | 08/15/28 | 4306993 |
|  | 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) (d) | 4.97% | 07/20/38 | 2002953 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
|  | Home Partners of America Trust | Home Partners of America Trust | Home Partners of America Trust | Home Partners of America Trust |
| $938729 | Series 2020-2, Class A (d) | 1.53% | 01/17/41 | $864961 |
|  | Invesco US CLO Ltd. | Invesco US CLO Ltd. | Invesco US CLO Ltd. | Invesco US CLO Ltd. |
| 2625000 | Series 2023-4A, Class A1R, 3 Mo. CME Term SOFR + <br> 1.22% (a) (d) | 4.89% | 01/18/39 | 2626444 |
|  | Kennedy Lewis CLO 16 Ltd. | Kennedy Lewis CLO 16 Ltd. | Kennedy Lewis CLO 16 Ltd. | Kennedy Lewis CLO 16 Ltd. |
| 1600000 | Series 2024-16A, Class A1, 3 Mo. CME Term SOFR + <br> 1.54% (a) (d) | 5.21% | 07/20/37 | 1606970 |
|  | Luxury Lease Partners Auto Lease Trust | Luxury Lease Partners Auto Lease Trust | Luxury Lease Partners Auto Lease Trust | Luxury Lease Partners Auto Lease Trust |
| 4612939 | Series 2025-A, Class A (d) | 5.51% | 03/15/32 | 4622632 |
|  | Neuberger Berman CLO XVI-S Ltd. | Neuberger Berman CLO XVI-S Ltd. | Neuberger Berman CLO XVI-S Ltd. | Neuberger Berman CLO XVI-S Ltd. |
| 1000000 | Series 2017-16SA, Class A1R2, 3 Mo. CME Term SOFR + <br> 1.18% (a) (d) | 4.85% | 04/15/39 | 1003600 |
|  | OCP CLO Ltd. | OCP CLO Ltd. | OCP CLO Ltd. | OCP CLO Ltd. |
| 300000 | Series 2018-15A, Class AR, 3 Mo. CME Term SOFR + <br> 1.25% (a) (d) | 4.92% | 01/20/38 | 300425 |
|  | Octagon Investment Partners XVI Ltd. | Octagon Investment Partners XVI Ltd. | Octagon Investment Partners XVI Ltd. | Octagon Investment Partners XVI Ltd. |
| 255397 | Series 2013-1A, Class A2R, 3 Mo. CME Term SOFR + CSA + <br> 1.40% (a) (d) | 5.33% | 07/17/30 | 255690 |
|  | 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) (d) | 4.96% | 07/20/38 | 2210997 |
|  | Oscar US Funding XV LLC | Oscar US Funding XV LLC | Oscar US Funding XV LLC | Oscar US Funding XV LLC |
| 438929 | Series 2023-1A, Class A3 (d) | 5.81% | 12/10/27 | 441667 |
|  | 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 (d) | 4.47% | 03/12/29 | 100368 |
|  | OZLM XXIV Ltd. | OZLM XXIV Ltd. | OZLM XXIV Ltd. | OZLM XXIV Ltd. |
| 253238 | Series 2019-24A, Class A1AR, 3 Mo. CME Term SOFR + CSA <br> + 1.16% (a) (d) | 5.09% | 07/20/32 | 253779 |
|  | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust |
| 154467 | Series 2024-8, Class A (d) | 5.33% | 01/15/32 | 155134 |
| 213486 | Series 2024-9, Class A (d) | 5.07% | 03/15/32 | 214049 |
| 718473 | Series 2024-10, Class A (d) | 5.18% | 06/15/32 | 721932 |
| 827406 | Series 2024-11, Class A (d) | 5.09% | 07/15/32 | 831945 |
| 3364214 | Series 2025-1, Class A2 (d) | 5.16% | 07/15/32 | 3392888 |
| 428471 | Series 2025-2, Class A (d) (e) | 4.96% | 10/15/32 | 431564 |
| 999964 | Series 2025-4, Class A2 (d) | 5.37% | 01/17/33 | 1007794 |
| 2499903 | Series 2025-5, Class A2 (d) | 5.11% | 03/15/33 | 2515532 |
| 1915314 | Series 2025-R3, Class A (d) | 4.84% | 01/18/33 | 1919023 |
| 1000000 | Series 2026-1, Class A1 (d) (j) (k) | 4.23% | 02/15/27 | 1000000 |
| 500000 | Series 2026-1, Class A2 (d) (j) (k) | 4.74% | 09/15/33 | 500000 |
|  | Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust |
| 2266141 | Series 2025-R1, Class A2 (d) | 5.34% | 06/15/32 | 2280657 |
|  | Parallel Ltd. | Parallel Ltd. | Parallel Ltd. | Parallel Ltd. |
| 220000 | Series 2023-1A, Class A1R, 3 Mo. CME Term SOFR + <br> 1.39% (a) (d) | 5.06% | 07/20/36 | 220579 |
|  | 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) (d) | 4.66% | 04/15/29 | 1003872 |
|  | Progress Residential Trust | Progress Residential Trust | Progress Residential Trust | Progress Residential Trust |
| 5478050 | Series 2025-SFR1, Class A (d) | 3.40% | 02/17/42 | 5251988 |
| 2600000 | Series 2025-SFR3, Class A (d) | 3.39% | 07/17/42 | 2477825 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
|  | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust |
| $946574 | Series 2023-3A, Class A (d) | 7.13% | 01/26/32 | $948297 |
| 2675849 | Series 2025-1A, Class A (d) | 5.04% | 06/27/33 | 2689333 |
| 2200000 | Series 2025-3A, Class A2 (d) | 5.15% | 02/27/34 | 2218527 |
|  | Research-Driven Pagaya Motor Trust | Research-Driven Pagaya Motor Trust | Research-Driven Pagaya Motor Trust | Research-Driven Pagaya Motor Trust |
| 2825000 | Series 2025-5A, Class A3 (d) | 4.84% | 06/26/34 | 2834286 |
| 4100000 | Series 2025-6A, Class A3 (d) | 5.01% | 08/25/34 | 4112943 |
|  | 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) (d) | 4.97% | 07/20/38 | 2002949 |
|  | Signal Peak CLO 3 Ltd. | Signal Peak CLO 3 Ltd. | Signal Peak CLO 3 Ltd. | Signal Peak CLO 3 Ltd. |
| 490000 | Series 2016-3A, Class AR3, 3 Mo. CME Term SOFR + <br> 1.59% (a) (d) | 5.26% | 01/23/37 | 492011 |
|  | Silver Point CLO 16 Ltd. | Silver Point CLO 16 Ltd. | Silver Point CLO 16 Ltd. | Silver Point CLO 16 Ltd. |
| 4000000 | Series 2026-16A, Class A1, 3 Mo. CME Term SOFR + <br> 1.23% (a) (d) (k) | 0.00% | 04/18/39 | 4002096 |
|  | 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) (d) | 5.03% | 01/15/38 | 500939 |
|  | 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) (d) | 5.19% | 03/31/38 | 1511246 |
|  | 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) (d) | 4.99% | 07/17/38 | 2003926 |
|  | Sound Point CLO XXVIII Ltd. | Sound Point CLO XXVIII Ltd. | Sound Point CLO XXVIII Ltd. | Sound Point CLO XXVIII Ltd. |
| 597311 | Series 2020-3A, Class A1R, 3 Mo. CME Term SOFR + <br> 1.28% (a) (d) | 4.95% | 01/25/32 | 598804 |
|  | STAR Trust | STAR Trust | STAR Trust | STAR Trust |
| 4993410 | Series 2025-SFR5, Class A, 1 Mo. CME Term SOFR + <br> 1.45% (a) (d) | 5.13% | 02/17/42 | 5001336 |
|  | Steele Creek CLO Ltd. | Steele Creek CLO Ltd. | Steele Creek CLO Ltd. | Steele Creek CLO Ltd. |
| 209956 | Series 2018-1A, Class B, 3 Mo. CME Term SOFR + CSA + <br> 1.48% (a) (d) | 5.41% | 04/15/31 | 210506 |
|  | 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) (d) | 5.00% | 07/15/33 | 2248130 |
|  | Trinitas CLO XXVIII Ltd. | Trinitas CLO XXVIII Ltd. | Trinitas CLO XXVIII Ltd. | Trinitas CLO XXVIII Ltd. |
| 320000 | Series 2024-28A, Class A1, 3 Mo. CME Term SOFR + <br> 1.55% (a) (d) | 5.22% | 04/25/37 | 321355 |
|  | Venture 42 CLO Ltd. | Venture 42 CLO Ltd. | Venture 42 CLO Ltd. | Venture 42 CLO Ltd. |
| 5000000 | Series 2021-42A, Class A1A, 3 Mo. CME Term SOFR + CSA + <br> 1.13% (a) (d) | 5.06% | 04/15/34 | 5004962 |
|  | Venture XIX CLO Ltd. | Venture XIX CLO Ltd. | Venture XIX CLO Ltd. | Venture XIX CLO Ltd. |
| 124561 | Series 2014-19A, Class ARR, 3 Mo. CME Term SOFR + CSA + <br> 1.26% (a) (d) | 5.19% | 01/15/32 | 124815 |
|  | Whitebox CLO III Ltd. | Whitebox CLO III Ltd. | Whitebox CLO III Ltd. | Whitebox CLO III Ltd. |
| 2000000 | Series 2021-3A, Class A1R, 3 Mo. CME Term SOFR + <br> 1.27% (a) (d) | 4.94% | 10/15/35 | 2005120 |
|  | **Total Asset-Backed Securities** | **Total Asset-Backed Securities** | **Total Asset-Backed Securities** | 107832911 |
|  | (Cost $107,240,049) | (Cost $107,240,049) | (Cost $107,240,049) |  |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **FOREIGN CORPORATE BONDS AND NOTES — 3.6%** | **FOREIGN CORPORATE BONDS AND NOTES — 3.6%** | **FOREIGN CORPORATE BONDS AND NOTES — 3.6%** | **FOREIGN CORPORATE BONDS AND NOTES — 3.6%** | **FOREIGN CORPORATE BONDS AND NOTES — 3.6%** |
|  | **Apparel — 0.6%** | **Apparel — 0.6%** | **Apparel — 0.6%** |  |
| $8000000 | Gildan Activewear, Inc. (d) | 4.70% | 10/07/30 | $7978345 |
| 5500000 | Gildan Activewear, Inc. (d) | 5.40% | 10/07/35 | 5495934 |
|  |  |  |  | 13474279 |
|  | **Banks — 1.4%** | **Banks — 1.4%** | **Banks — 1.4%** |  |
| 2000000 | Banco Santander S.A. | 5.13% | 11/06/35 | 1997401 |
| 3500000 | Barclays PLC (h) | 5.75% | 08/09/33 | 3671815 |
| 2000000 | BNP Paribas S.A. (d) (h) | 5.09% | 05/09/31 | 2042318 |
| 2000000 | BNP Paribas S.A. (d) (h) | 5.89% | 12/05/34 | 2121859 |
| 3500000 | Cooperatieve Rabobank U.A. (d) (h) | 5.71% | 01/21/33 | 3686080 |
| 1000000 | Credit Agricole S.A. (d) (h) | 5.34% | 01/10/30 | 1029493 |
| 5500000 | Credit Agricole S.A. (d) (h) | 4.82% | 09/25/33 | 5484691 |
| 2710000 | UBS Group AG (d) (h) | 4.19% | 04/01/31 | 2684573 |
| 3000000 | UBS Group AG (d) (h) | 4.84% | 11/06/33 | 3002202 |
| 2500000 | UBS Group AG (d) (h) | 5.58% | 05/09/36 | 2592668 |
|  |  |  |  | 28313100 |
|  | **Building Materials — 0.1%** | **Building Materials — 0.1%** | **Building Materials — 0.1%** |  |
| 3000000 | Cemex S.A.B. de C.V. (d) | 5.45% | 11/19/29 | 3040197 |
|  | **Entertainment — 0.4%** | **Entertainment — 0.4%** | **Entertainment — 0.4%** |  |
| 1105000 | Flutter Treasury DAC (d) | 6.38% | 04/29/29 | 1140056 |
| 6378000 | Flutter Treasury DAC (d) | 5.88% | 06/04/31 | 6463997 |
|  |  |  |  | 7604053 |
|  | **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** |  |
| 3800000 | Icon Investments Six DAC | 5.85% | 05/08/29 | 3964075 |
| 4915000 | Icon Investments Six DAC | 6.00% | 05/08/34 | 5168693 |
|  |  |  |  | 9132768 |
|  | **Insurance — 0.1%** | **Insurance — 0.1%** | **Insurance — 0.1%** |  |
| 1530000 | Aon Global Ltd.  | 4.75% | 05/15/45 | 1366247 |
|  | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** |  |
| 3500000 | CCL Industries, Inc. (d) | 3.05% | 06/01/30 | 3298278 |
|  | **Software — 0.4%** | **Software — 0.4%** | **Software — 0.4%** |  |
| 2670000 | Constellation Software, Inc. (d) | 5.46% | 02/16/34 | 2686429 |
| 4895000 | Open Text Corp. (d) | 6.90% | 12/01/27 | 5057815 |
|  |  |  |  | 7744244 |
|  | **Total Foreign Corporate Bonds and Notes** | **Total Foreign Corporate Bonds and Notes** | **Total Foreign Corporate Bonds and Notes** | 73973166 |
|  | (Cost $73,286,137) | (Cost $73,286,137) | (Cost $73,286,137) |  |
| **MUNICIPAL BONDS — 1.9%** | **MUNICIPAL BONDS — 1.9%** | **MUNICIPAL BONDS — 1.9%** | **MUNICIPAL BONDS — 1.9%** | **MUNICIPAL BONDS — 1.9%** |
|  | **New Jersey — 0.3%** | **New Jersey — 0.3%** | **New Jersey — 0.3%** |  |
| 6000000 | NJ Transprtn Trust Fund Auth, Ser AA | 5.00% | 06/15/50 | 6214211 |
|  | **New York — 0.9%** | **New York — 0.9%** | **New York — 0.9%** |  |
| 4000000 | City of NY, Ser G-1 | 5.25% | 02/01/50 | 4208825 |
| 9140000 | NY City Transitional Fin Auth, Ser A | 5.50% | 05/01/50 | 9841902 |
| 3000000 | NY St Dorm Auth, Ser C | 5.50% | 03/15/53 | 3216618 |
|  |  |  |  | 17267345 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** | **MUNICIPAL BONDS (Continued)** |
|  | **Texas — 0.7%** | **Texas — 0.7%** | **Texas — 0.7%** |  |
| $7000000 | Dallas Fort Worth Intl Arpts, Ser A-1, AMT | 5.25% | 11/01/46 | $7366499 |
| 6700000 | New Hope Cultural Edu Facs Fin Corp TX Hosp Rev Children's <br> Hlth Sys of TX, Ser A | 5.50% | 08/15/49 | 7283854 |
|  |  |  |  | 14650353 |
|  | **Total Municipal Bonds** | **Total Municipal Bonds** | **Total Municipal Bonds** | 38131909 |
|  | (Cost $37,387,351) | (Cost $37,387,351) | (Cost $37,387,351) |  |
| **U.S. GOVERNMENT AGENCY SECURITIES — 0.2%** | **U.S. GOVERNMENT AGENCY SECURITIES — 0.2%** | **U.S. GOVERNMENT AGENCY SECURITIES — 0.2%** | **U.S. GOVERNMENT AGENCY SECURITIES — 0.2%** | **U.S. GOVERNMENT AGENCY SECURITIES — 0.2%** |
| 4000000 | Tennessee Valley Authority  | 5.25% | 02/01/55 | 3972667 |
|  | (Cost $3,917,442) |  |  |  |

---

&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 AAA CMBS ETF (l) | 409400 |
|  | (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 — 0.8%** | **U.S. TREASURY BILLS — 0.8%** | **U.S. TREASURY BILLS — 0.8%** | **U.S. TREASURY BILLS — 0.8%** |
| $2000000 | U.S. Treasury Bill <br> (c) | 02/03/26 | 1999801 |
| 10000000 | U.S. Treasury Bill <br> (c) | 02/12/26 | 9990033 |
| 5000000 | U.S. Treasury Bill <br> (c) | 02/19/26 | 4991510 |
|  | **Total U.S. Treasury Bills** | **Total U.S. Treasury Bills** | 16981344 |
|  | (Cost $16,979,668) | (Cost $16,979,668) |  |

---

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

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 0.9%** | **MONEY MARKET FUNDS — 0.9%** | **MONEY MARKET FUNDS — 0.9%** |
| 17188715 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 3.56% (m) | 17188715 |
|  | (Cost $17,188,715) |  |
|  | **Total Investments — 102.7%** | 2090486640 |
|  | (Cost $2,070,823,995) |  |

---

&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 — (2.7)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (2.7)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (2.7)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (2.7)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (2.7)%** |
|  | **Pass-Through Securities — (2.7)%** | **Pass-Through Securities — (2.7)%** | **Pass-Through Securities — (2.7)%** |  |
|  | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |  |
| $(5125000) | Pool TBA (g) | 2.50% | 04/15/56 | (4347846)<br>|
| (26590000) | Pool TBA (g) | 3.00% | 04/15/56 | (23545018)<br>|
| (15797000) | Pool TBA (g) | 4.00% | 04/15/56 | (15059739)<br>|
| (10181000) | Pool TBA  | 4.50% | 04/15/56 | (9951604)<br>|
|  | Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |  |
| (2476000) | Pool TBA  | 3.00% | 03/15/56 | (2233854)<br>|
|  | **Total Investments Sold Short — (2.7)%** | **Total Investments Sold Short — (2.7)%** | **Total Investments Sold Short — (2.7)%** | (55138061)<br>|
|  | (Proceeds $55,129,359) | (Proceeds $55,129,359) | (Proceeds $55,129,359) |  |

---

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

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **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 | $(28563375)<br>| $97.50 | 12/10/27 | $(36875)<br>|
| (74) | U.S. 2-Year Treasury Note Futures | (15428422)<br>| 104.75 | 02/20/26 | (2313)<br>|
| (145) | U.S. 2-Year Treasury Note Futures | (30252891)<br>| 104.75 | 05/22/26 | (36250)<br>|
| (14) | U.S. 5-Year Treasury Note Futures | (1525016)<br>| 112.00 | 02/20/26 | (109)<br>|
| (222) | U.S. 5-Year Treasury Note Futures | (24171984)<br>| 110.00 | 05/22/26 | (69375)<br>|
| (55) | U.S. 5-Year Treasury Note Futures | (5988555)<br>| 112.00 | 05/22/26 | (4727)<br>|
| (281) | U.S. 10-Year Treasury Note Futures | (31423703)<br>| 115.00 | 02/20/26 | (8781)<br>|
| (65) | U.S. 10-Year Treasury Note Futures | (7268828)<br>| 116.00 | 02/20/26 | (1016)<br>|
| (131) | U.S. 10-Year Treasury Note Futures | (14649484)<br>| 118.00 | 02/20/26 | (0)<br>|
| (49) | U.S. 10-Year Treasury Note Futures | (5471156)<br>| 114.00 | 05/22/26 | (18375)<br>|
| (293) | U.S. 10-Year Treasury Note Futures | (32715281)<br>| 115.00 | 05/22/26 | (68672)<br>|
| (23) | U.S. 10-Year Treasury Note Futures | (2568094)<br>| 116.00 | 05/22/26 | (3594)<br>|
| (263) | U.S. Treasury Long Bond Futures | (30277875)<br>| 124.00 | 02/20/26 | (12328)<br>|
| (77) | U.S. Treasury Long Bond Futures | (8864625)<br>| 126.00 | 02/20/26 | (2406)<br>|
| (65) | U.S. Treasury Long Bond Futures | (7452656)<br>| 120.00 | 05/22/26 | (49766)<br>|
| (56) | U.S. Treasury Long Bond Futures | (6420750)<br>| 121.00 | 05/22/26 | (34125)<br>|
| (314) | U.S. Treasury Long Bond Futures | (36002062)<br>| 122.00 | 05/22/26 | (152094)<br>|
| (68) | U.S. Treasury Long Bond Futures | (7796625)<br>| 123.00 | 05/22/26 | (26562)<br>|
| (28) | U.S. Treasury Long Bond Futures | (3210375)<br>| 126.00 | 05/22/26 | (6125)<br>|
| (17) | U.S. Treasury Long Bond Futures | (1949156)<br>| 128.00 | 05/22/26 | (2656)<br>|
| (37) | U.S. Treasury Long Bond Futures | (4224938)<br>| 121.00 | 08/21/26 | (39312)<br>|
| (51) | Ultra 10-Year U.S. Treasury Note Futures | (5810812)<br>| 117.00 | 05/22/26 | (23906)<br>|
| (7) | Ultra 10-Year U.S. Treasury Note Futures | (797563)<br>| 118.00 | 05/22/26 | (2297)<br>|
| (12) | Ultra U.S. Treasury Long Bond Futures | (1409250)<br>| 122.00 | 02/20/26 | (1875)<br>|
| (13) | Ultra U.S. Treasury Long Bond Futures | (1526688)<br>| 125.00 | 02/20/26 | (1016)<br>|
|  | **Total Call Options Written** | **Total Call Options Written** | **Total Call Options Written** | **Total Call Options Written** | (604555)<br>|
|  | (Premiums received $1,418,734) | (Premiums received $1,418,734) | (Premiums received $1,418,734) | (Premiums received $1,418,734) |  |
|  | **Put Options Written — (0.1)%** | **Put Options Written — (0.1)%** | **Put Options Written — (0.1)%** | **Put Options Written — (0.1)%** |  |
| (118) | 3 Month SOFR Futures | (28563375)<br>| 95.50 | 12/10/27 | (22125)<br>|
| (151) | 3 Month SOFR Futures | (36551437)<br>| 96.00 | 12/10/27 | (53794)<br>|
| (21) | U.S. 2-Year Treasury Note Futures | (4378336)<br>| 103.75 | 02/20/26 | (328)<br>|
| (12) | U.S. 2-Year Treasury Note Futures | (2501906)<br>| 103.88 | 02/20/26 | (188)<br>|
| (37) | U.S. 2-Year Treasury Note Futures | (7719703)<br>| 104.00 | 05/22/26 | (8672)<br>|
| (10) | U.S. 5-Year Treasury Note Futures | (1089297)<br>| 107.50 | 02/20/26 | (78)<br>|
| (231) | U.S. 5-Year Treasury Note Futures | (25151930)<br>| 108.00 | 05/22/26 | (77602)<br>|
| (122) | U.S. 5-Year Treasury Note Futures | (13283703)<br>| 109.00 | 05/22/26 | (91500)<br>|
| (28) | U.S. 10-Year Treasury Note Futures | (3131187)<br>| 109.00 | 02/20/26 | (438)<br>|
| (62) | U.S. 10-Year Treasury Note Futures | (6933344)<br>| 110.00 | 02/20/26 | (1938)<br>|
| (40) | U.S. 10-Year Treasury Note Futures | (4473125)<br>| 111.00 | 02/20/26 | (5000)<br>|
| (22) | U.S. 10-Year Treasury Note Futures | (2460219)<br>| 114.00 | 02/20/26 | (48812)<br>|
| (6) | U.S. 10-Year Treasury Note Futures | (669938)<br>| 109.00 | 05/22/26 | (1688)<br>|
| (22) | U.S. 10-Year Treasury Note Futures | (2456438)<br>| 110.00 | 05/22/26 | (10312)<br>|
| (66) | U.S. Treasury Long Bond Futures | (7598250)<br>| 108.00 | 02/20/26 | (2062)<br>|
| (136) | U.S. Treasury Long Bond Futures | (15657000)<br>| 110.00 | 02/20/26 | (6375)<br>|
| (10) | U.S. Treasury Long Bond Futures | (1151250)<br>| 111.00 | 02/20/26 | (781)<br>|
| (9) | U.S. Treasury Long Bond Futures | (1036125)<br>| 114.00 | 02/20/26 | (4922)<br>|
| (103) | U.S. Treasury Long Bond Futures | (11857875)<br>| 116.00 | 02/20/26 | (154500)<br>|
| (24) | U.S. Treasury Long Bond Futures | (2756250)<br>| 112.00 | 03/27/26 | (18375)<br>|
| (24) | U.S. Treasury Long Bond Futures | (2756250)<br>| 114.00 | 03/27/26 | (33750)<br>|
| (72) | U.S. Treasury Long Bond Futures | (8255250)<br>| 109.00 | 05/22/26 | (55125)<br>|

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **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)** |  |
| (6) | U.S. Treasury Long Bond Futures | $(687938)<br>| $110.00 | 05/22/26 | $(5719)<br>|
| (225) | U.S. Treasury Long Bond Futures | (25797656)<br>| 112.00 | 05/22/26 | (326953)<br>|
| (206) | U.S. Treasury Long Bond Futures | (23619187)<br>| 114.00 | 05/22/26 | (450625)<br>|
| (86) | U.S. Treasury Long Bond Futures | (9820125)<br>| 110.00 | 08/21/26 | (143781)<br>|
| (12) | Ultra U.S. Treasury Long Bond Futures | (1409250)<br>| 112.00 | 02/20/26 | (1500)<br>|
| (58) | Ultra U.S. Treasury Long Bond Futures | (6811375)<br>| 114.00 | 02/20/26 | (17219)<br>|
| (6) | Ultra U.S. Treasury Long Bond Futures | (704625)<br>| 115.00 | 02/20/26 | (2812)<br>|
| (59) | Ultra U.S. Treasury Long Bond Futures | (6928812)<br>| 116.00 | 02/20/26 | (42406)<br>|
|  | **Total Put Options Written** | **Total Put Options Written** | **Total Put Options Written** | **Total Put Options Written** | (1589380)<br>|
|  | (Premiums received $2,290,709) | (Premiums received $2,290,709) | (Premiums received $2,290,709) | (Premiums received $2,290,709) |  |
|  | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | (2193935)<br>|
|  | (Premiums received $3,709,443) | (Premiums received $3,709,443) | (Premiums received $3,709,443) | (Premiums received $3,709,443) |  |
|  | **Net Other Assets and Liabilities — 0.1%** | **Net Other Assets and Liabilities — 0.1%** | **Net Other Assets and Liabilities — 0.1%** | **Net Other Assets and Liabilities — 0.1%** | 2904052 |
|  | **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | $2036058696 |

---

**Futures Contracts at January 31, 2026** (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 | 1397 | Mar-2026 | &nbsp;&nbsp; $291263587 | &nbsp;&nbsp; $(193389)<br>|
| U.S. 5-Year Treasury Notes | 682 | Mar-2026 | &nbsp;&nbsp; 74290047 | &nbsp;&nbsp; (453910)<br>|
| U.S. 10-Year Treasury Notes | 375 | Mar-2026 | &nbsp;&nbsp; 41935547 | &nbsp;&nbsp; (377709)<br>|
| U.S. Treasury Long Bond Futures | 102 | Mar-2026 | &nbsp;&nbsp; 11742750 | &nbsp;&nbsp; (172281)<br>|
| Ultra U.S. Treasury Bond Futures | 508 | Mar-2026 | &nbsp;&nbsp; 59658250 | &nbsp;&nbsp; (580143)<br>|
|  |  |  | &nbsp;&nbsp; $478890181 | &nbsp;&nbsp; $(1777432)<br>|

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Short** |  |  |  |  |
| Ultra 10-Year U.S. Treasury Notes | 1318 | Mar-2026 | &nbsp;&nbsp; $(150457938)<br>| &nbsp;&nbsp; $1802483 |
|  |  | &nbsp;&nbsp; Total | &nbsp;&nbsp; $328432243 | &nbsp;&nbsp; $25051 |

---

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

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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 January 31, 2026, securities noted as such amounted to $653,203,295 or 32.1% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(e) 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;(f) 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;(g) 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).

&nbsp;&nbsp;&nbsp;&nbsp;(h) Fixed-to-floating
 or fixed-to-variable rate security. The interest rate shown reflects the fixed rate in effect at January 31, 2026. At a
 predetermined date, the fixed rate will change to a floating rate or a variable rate.

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

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

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

&nbsp;&nbsp;&nbsp;&nbsp;(j) 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 January
 31, 2026, securities noted as such are valued at $16,328,889 or 0.8% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(k) When-issued
 security. The interest rate shown reflects the rate in effect at January 31, 2026. Interest will begin accruing on the security's
 first settlement date (see Note 2B - Securities Transactions and Investment Income in the Notes to Financial Statements).

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

&nbsp;&nbsp;&nbsp;&nbsp;(m) Rate
 shown reflects yield as of January 31, 2026.

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

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| AMT | – Alternative Minimum Tax |
| CME | – Chicago Mercantile Exchange |
| CSA | – Credit Spread Adjustment |
| IO | – Interest-Only Security - Principal amount shown represents par value on which interest payments are based |
| PO | – Principal-Only Security |
| 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 January 31, 2026 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>**1/31/2026**<br>| &nbsp;&nbsp;&nbsp; **Level 1** <br>**Quoted** <br>**Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| U.S. Government Agency Mortgage-Backed <br> Securities<br>| &nbsp;&nbsp; $629406200 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $629406200 | &nbsp;&nbsp;&nbsp;&nbsp; $— |
| U.S. Government Bonds and Notes | &nbsp;&nbsp; 411516215 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 411516215 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Corporate Bonds and Notes\* | &nbsp;&nbsp; 402704552 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 402704552 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Mortgage-Backed Securities | &nbsp;&nbsp; 388369561 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 388369561 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Asset-Backed Securities | &nbsp;&nbsp; 107832911 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 107832911 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Foreign Corporate Bonds and Notes\* | &nbsp;&nbsp; 73973166 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 73973166 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Municipal Bonds\*\* | &nbsp;&nbsp; 38131909 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 38131909 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Government Agency Securities | &nbsp;&nbsp; 3972667 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3972667 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Exchange-Traded Funds\* | &nbsp;&nbsp; 409400 | &nbsp;&nbsp;&nbsp;&nbsp; 409400 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury Bills | &nbsp;&nbsp; 16981344 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16981344 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Money Market Funds | &nbsp;&nbsp; 17188715 | &nbsp;&nbsp;&nbsp;&nbsp; 17188715 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments | &nbsp;&nbsp; 2090486640 | &nbsp;&nbsp;&nbsp;&nbsp; 17598115 | &nbsp;&nbsp;&nbsp;&nbsp; 2072888525 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Futures Contracts\*\*\* | &nbsp;&nbsp; 1802483 | &nbsp;&nbsp;&nbsp;&nbsp; 1802483 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | &nbsp;&nbsp; $2092289123 | &nbsp;&nbsp;&nbsp;&nbsp; $19400598 | &nbsp;&nbsp;&nbsp;&nbsp; $2072888525 | &nbsp;&nbsp;&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)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total** <br>**Value at** <br>**1/31/2026**<br>| &nbsp;&nbsp;&nbsp; **Level 1** <br>**Quoted** <br>**Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| U.S. Government Agency Mortgage-Backed Securities <br> Sold Short<br>| &nbsp;&nbsp; $(55138061)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(55138061)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— |
| Written Options | &nbsp;&nbsp; (2193935)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2193935)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Futures Contracts\*\*\* | &nbsp;&nbsp; (1777432)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1777432)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | &nbsp;&nbsp; $(59109428)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(3971367)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(55138061)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

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

\* See Portfolio of Investments for industry breakout.

\*\* See Portfolio of Investments for state 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 AAA CMBS ETF (CAAA)**

**Portfolio of Investments**

**January 31, 2026 (Unaudited)**

&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 — 88.9%** | **MORTGAGE-BACKED SECURITIES — 88.9%** | **MORTGAGE-BACKED SECURITIES — 88.9%** | **MORTGAGE-BACKED SECURITIES — 88.9%** | **MORTGAGE-BACKED SECURITIES — 88.9%** |
|  | **Commercial Mortgage-Backed Securities — 88.9%** | **Commercial Mortgage-Backed Securities — 88.9%** | **Commercial Mortgage-Backed Securities — 88.9%** |  |
|  | 2023-MIC Trust (The) | 2023-MIC Trust (The) | 2023-MIC Trust (The) | 2023-MIC Trust (The) |
| $530000 | Series 2023-MIC, Class A (a) (b) | 8.44% | 12/05/38 | $572956 |
|  | 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 | 365507 |
| 150000 | Series 2020-MF1, Class AS (a) | 3.06% | 05/15/53 | 141167 |
| 390000 | Series 2021-MF2, Class A4 (a) | 2.25% | 06/15/54 | 351215 |
| 3791000 | Series 2021-MF3, Class XB, IO (a) (b) | 0.49% | 10/15/54 | 97573 |
|  | BANK | BANK | BANK | BANK |
| 2865689 | Series 2018-BN10, Class XA, IO (b) | 0.68% | 02/15/61 | 32416 |
| 250248 | Series 2018-BN13, Class A4 | 3.95% | 08/15/61 | 249243 |
| 7476558 | Series 2019-BN19, Class XA, IO (b) | 0.94% | 08/15/61 | 203463 |
| 3091044 | Series 2019-BN21, Class XA, IO (b) | 0.83% | 10/17/52 | 74294 |
| 4098175 | Series 2019-BN23, Class XA, IO (b) | 0.68% | 12/15/52 | 89619 |
| 542000 | Series 2020-BN25, Class A5 | 2.65% | 01/15/63 | 505410 |
| 325000 | Series 2020-BN26, Class A3 | 2.16% | 03/15/63 | 301759 |
| 2389882 | Series 2020-BN26, Class XA, IO (b) | 1.19% | 03/15/63 | 85931 |
| 500170 | Series 2020-BN29, Class A4 | 2.00% | 11/15/53 | 443188 |
| 350000 | Series 2020-BN30, Class A4 | 1.93% | 12/15/53 | 310295 |
| 7500000 | Series 2021-BN31, Class XB, IO (b) | 0.87% | 02/15/54 | 281025 |
| 318750 | Series 2021-BN33, Class A5 | 2.56% | 05/15/64 | 289184 |
| 8572587 | Series 2023-BNK46, Class XA, IO (b) | 0.62% | 08/15/56 | 282904 |
| 5169714 | Series 2025-BNK49, Class XA, IO (b) | 0.62% | 03/15/58 | 241162 |
|  | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
| 400000 | Series 2017-C1, Class A4 | 3.67% | 02/15/50 | 396308 |
| 543000 | Series 2018-TALL, Class A, 1 Mo. CME Term SOFR + CSA + <br> 0.87% (a) (c) | 4.60% | 03/15/37 | 519389 |
| 550000 | Series 2020-C8, Class A5 | 2.04% | 10/15/53 | 494519 |
| 300000 | Series 2022-C16, Class A5 | 4.60% | 06/15/55 | 297441 |
| 300000 | Series 2022-C18, Class A5 | 5.71% | 12/15/55 | 316938 |
| 5793011 | Series 2025-C35, Class XA, IO (b) | 0.65% | 07/15/58 | 290599 |
|  | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
| 329000 | Series 2020-B18, Class A5 | 1.93% | 07/15/53 | 293512 |
| 500000 | Series 2021-B25, Class A4 | 2.27% | 04/15/54 | 458463 |
| 425000 | Series 2023-B40, Class ASB | 6.25% | 12/15/56 | 461566 |
| 2442901 | Series 2024-V6, Class XA, IO (b) | 1.33% | 03/15/57 | 89354 |
|  | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
| 260000 | Series 2023-C5, Class ASB | 5.99% | 06/15/56 | 274544 |
| 235000 | Series 2023-C6, Class ASB | 6.21% | 09/15/56 | 251034 |
| 250000 | Series 2023-C7, Class A5 | 6.16% | 12/15/56 | 267638 |
| 300000 | Series 2024-C9, Class ASB | 5.77% | 07/15/57 | 318589 |
| 250000 | Series 2025-C11, Class ASB | 5.68% | 02/15/58 | 265358 |
| 350000 | Series 2025-C12, Class ASB | 5.76% | 06/15/58 | 371598 |
| 3669435 | Series 2025-C13, Class XA, IO (b) | 1.01% | 10/15/58 | 283507 |
|  | BPR Mortgage Trust | BPR Mortgage Trust | BPR Mortgage Trust | BPR Mortgage Trust |
| 250000 | Series 2023-STON, Class A (a) | 7.50% | 12/05/39 | 259349 |
|  | BPR Trust | BPR Trust | BPR Trust | BPR Trust |
| 68084 | Series 2021-WILL, Class A, 1 Mo. CME Term SOFR + CSA + <br> 1.75% (a) (c) | 5.55% | 06/15/38 | 68055 |
|  | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust |
| 550000 | Series 2025-1C, Class A (a) (b) | 5.55% | 06/15/44 | 565678 |

---

See Notes to Financial Statements

------

**First Trust AAA CMBS ETF (CAAA)**

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |
|  | BWAY Trust | BWAY Trust | BWAY Trust | BWAY Trust |
| $415000 | Series 2025-1535, Class A (a) (b) | 6.52% | 05/05/42 | $428648 |
| 131000 | Series 2025-1535, Class B (a) (b) | 7.71% | 05/05/42 | 137706 |
|  | 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 | 456633 |
|  | BX Trust | BX Trust | BX Trust | BX Trust |
| 600000 | Series 2025-DELC, Class A, 1 Mo. CME Term SOFR + <br> 1.55% (a) (c) | 5.23% | 12/15/42 | 604297 |
| 260000 | Series 2025-GW, Class A, 1 Mo. CME Term SOFR + <br> 1.60% (a) (c) | 5.28% | 07/15/42 | 261206 |
| 255000 | Series 2025-VOLT, Class A, 1 Mo. CME Term SOFR + <br> 1.70% (a) (c) | 5.38% | 12/15/44 | 256627 |
|  | 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) | 5.56% | 07/15/41 | 134444 |
|  | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending |
| 359552 | Series 2019-CF1, Class A2 | 3.62% | 05/15/52 | 355876 |
|  | CENT | CENT | CENT | CENT |
| 550000 | Series 2025-CITY, Class A (a) (b) | 4.92% | 07/10/40 | 558409 |
|  | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust |
| 7336099 | Series 2017-C8, Class XA, IO (b) | 1.46% | 06/15/50 | 82647 |
|  | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust |
| 520000 | Series 2025-SFT, Class A (a) (b) | 5.66% | 04/15/42 | 534030 |
|  | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust |
| 377740 | Series 2019-GC43, Class AAB | 2.96% | 11/10/52 | 369089 |
|  | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust |
| 650000 | Series 2019-UVIL, Class A (a) | 3.16% | 12/15/41 | 617038 |
|  | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust |
| 212500 | Series 2015-C3, Class B (b) | 3.88% | 08/15/48 | 202158 |
|  | Deutsche Bank Commercial Mortgage Trust | Deutsche Bank Commercial Mortgage Trust | Deutsche Bank Commercial Mortgage Trust | Deutsche Bank Commercial Mortgage Trust |
| 300000 | Series 2020-C9, Class A5 | 1.93% | 08/15/53 | 269796 |
|  | 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 | 301288 |
| 8443529 | Series 2019-GC39, Class XA, IO (b) | 1.07% | 05/10/52 | 252159 |
| 300000 | Series 2024-FAIR, Class A (a) (b) | 6.07% | 07/15/29 | 309865 |
|  | 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) | 5.07% | 03/15/42 | 258145 |
|  | Hilton USA Trust | Hilton USA Trust | Hilton USA Trust | Hilton USA Trust |
| 300000 | Series 2016-HHV, Class A (a) | 3.72% | 11/05/38 | 298474 |
| 300000 | Series 2025-NVIL, Class A, 1 Mo. CME Term SOFR + <br> 1.74% (a) (c) | 5.42% | 07/15/42 | 301612 |
|  | 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 | 291525 |
|  | ILPT Trust | ILPT Trust | ILPT Trust | ILPT Trust |
| 225000 | Series 2019-SURF, Class A (a) | 4.15% | 02/11/41 | 222542 |
|  | INT Commercial Mortgage Trust | INT Commercial Mortgage Trust | INT Commercial Mortgage Trust | INT Commercial Mortgage Trust |
| 500000 | Series 2025-PLAZA, Class A (a) (b) | 5.04% | 11/05/37 | 505795 |
|  | IRV Trust | IRV Trust | IRV Trust | IRV Trust |
| 100000 | Series 2025-200P, Class A (a) (b) | 5.29% | 03/14/47 | 102887 |

---

See Notes to Financial Statements

------

**First Trust AAA CMBS ETF (CAAA)**

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |
|  | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust |
| $425768 | Series 2019-COR5, Class ASB | 3.22% | 06/13/52 | $418734 |
| 7390336 | Series 2019-COR5, Class XA, IO (b) | 1.43% | 06/13/52 | 261658 |
| 500000 | Series 2025-PHNY, Class A, 1 Mo. CME Term SOFR + <br> 1.64% (a) (c) | 5.32% | 01/15/41 | 502116 |
|  | JW Trust | JW Trust | JW Trust | JW Trust |
| 260000 | Series 2024-BERY, Class A, 1 Mo. CME Term SOFR + <br> 1.59% (a) (c) | 5.27% | 11/15/39 | 260990 |
|  | 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 | 276990 |
|  | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust |
| 279038 | Series 2018-L1, Class A3 | 4.14% | 10/15/51 | 279245 |
| 310015 | Series 2019-L2, Class A3 | 3.81% | 03/15/52 | 305900 |
| 12228509 | Series 2019-L2, Class XA, IO (b) | 1.00% | 03/15/52 | 308978 |
|  | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust |
| 5344128 | Series 2023-1, Class XA, IO (b) | 0.86% | 05/15/56 | 259618 |
|  | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust |
| 275000 | Series 2025-PARK, Class A, 1 Mo. CME Term SOFR + <br> 1.39% (a) (c) | 5.07% | 10/15/40 | 276237 |
|  | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust |
| 500000 | Series 2025-299P, Class A (a) (b) | 5.66% | 02/10/47 | 528316 |
|  | 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) | 4.89% | 11/15/38 | 375129 |
|  | 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) | 4.94% | 05/15/38 | 319375 |
|  | SKY Trust | SKY Trust | SKY Trust | SKY Trust |
| 456955 | Series 2025-LINE, Class A, 1 Mo. CME Term SOFR + <br> 2.59% (a) (c) | 6.27% | 04/15/42 | 460162 |
|  | SLG Office Trust | SLG Office Trust | SLG Office Trust | SLG Office Trust |
| 323000 | Series 2021-OVA, Class A (a) | 2.59% | 07/15/41 | 290032 |
|  | SWCH Commercial Mortgage Trust | SWCH Commercial Mortgage Trust | SWCH Commercial Mortgage Trust | SWCH Commercial Mortgage Trust |
| 555000 | Series 2025-DATA, Class A, 1 Mo. CME Term SOFR + <br> 1.44% (a) (c) | 5.12% | 02/15/42 | 551832 |
|  | TEXAS Commercial Mortgage Trust | TEXAS Commercial Mortgage Trust | TEXAS Commercial Mortgage Trust | TEXAS Commercial Mortgage Trust |
| 500000 | Series 2025-TWR, Class A, 1 Mo. CME Term SOFR + <br> 1.29% (a) (c) | 4.97% | 04/15/42 | 500902 |
|  | VRTX Trust | VRTX Trust | VRTX Trust | VRTX Trust |
| 500000 | Series 2025-HQ, Class A (a) (b) | 4.93% | 08/05/42 | 503485 |
|  | 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 | 377202 |
| 76100 | Series 2018-C47, Class AS | 4.67% | 09/15/61 | 75890 |
| 4097341 | Series 2021-C59, Class XA, IO (b) | 1.48% | 04/15/54 | 226245 |
| 3906610 | Series 2021-C60, Class XA, IO (b) | 1.49% | 08/15/54 | 230727 |
| 380000 | Series 2022-C62, Class A4 | 4.00% | 04/15/55 | 364461 |
| 350000 | Series 2025-B33RP, Class A, 1 Mo. CME Term SOFR + <br> 1.35% (a) (c) | 5.03% | 08/15/42 | 350692 |

---

See Notes to Financial Statements

------

**First Trust AAA CMBS ETF (CAAA)**

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |
|  | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust |
| $325000 | Series 2025-DC, Class A (a) (b) | 5.53% | 07/15/40 | $335253 |
|  | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | 28214815 |
|  | (Cost $27,838,667) | (Cost $27,838,667) | (Cost $27,838,667) |  |
| **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%** |
|  | **Commercial Mortgage-Backed Securities — 5.5%** | **Commercial Mortgage-Backed Securities — 5.5%** | **Commercial Mortgage-Backed Securities — 5.5%** |  |
|  | Federal Home Loan Mortgage Corporation Multiclass Certificates |  |  |  |
| 160000 | Series 2020-RR05, Class X, IO | 2.01% | 01/27/29 | 8069 |
| 1500000 | Series 2020-RR07, Class AX, IO (d) | 2.47% | 09/27/28 | 77177 |
|  | Federal Home Loan Mortgage Corporation Multifamily Structured <br> Pass Through Certificates |  |  |  |
| 485707 | Series 2016-KIR1, Class X, IO (b) (e) | 1.00% | 03/25/26 | 16 |
| 8693574 | Series 2020-K104, Class X1, IO (b) | 1.11% | 01/25/30 | 317895 |
| 1607131 | Series 2020-K122, Class X1, IO (b) | 0.87% | 11/25/30 | 55332 |
| 1185880 | Series 2025-K546, Class X1, IO (b) | 0.89% | 05/25/30 | 40542 |
|  | Government National Mortgage Association |  |  |  |
| 3532510 | Series 2021-31, Class IO, IO (b) | 0.94% | 01/16/61 | 245699 |
| 4989782 | Series 2024-47, Class AI, IO | 0.75% | 06/16/64 | 254191 |
| 3578942 | Series 2025-21, Class IO, IO (b) | 0.95% | 04/16/65 | 251925 |
| 3250594 | Series 2025-153, Class IO, IO (b) | 0.85% | 09/16/67 | 245248 |
| 4163739 | Series 2025-206, Class IO, IO (b) | 0.80% | 04/16/64 | 252654 |
|  |  |  |  | 1748748 |
|  | **Pass-Through Securities — 1.0%** | **Pass-Through Securities — 1.0%** | **Pass-Through Securities — 1.0%** |  |
|  | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| 300000 | Pool BZ0874  | 4.76% | 06/01/29 | 307218 |
|  |  |  |  | 307218 |
|  | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | 2055966 |
|  | (Cost $2,086,659) | (Cost $2,086,659) | (Cost $2,086,659) |  |
| **U.S. TREASURY BILLS — 2.8%** | **U.S. TREASURY BILLS — 2.8%** | **U.S. TREASURY BILLS — 2.8%** | **U.S. TREASURY BILLS — 2.8%** | **U.S. TREASURY BILLS — 2.8%** |
| 400000 | U.S. Treasury Bill  | (f) | 02/10/26 | 399683 |
| 500000 | U.S. Treasury Bill  | (f) | 02/17/26 | 499248 |
|  | **Total U.S. Treasury Bills** | **Total U.S. Treasury Bills** | **Total U.S. Treasury Bills** | 898931 |
|  | (Cost $898,839) | (Cost $898,839) | (Cost $898,839) |  |

---

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

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 3.8%** | **MONEY MARKET FUNDS — 3.8%** | **MONEY MARKET FUNDS — 3.8%** |
| 1186093 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 3.56% (g) | 1186093 |
|  | (Cost $1,186,093) |  |
|  | **Total Investments — 102.0%** | 32355805 |
|  | (Cost $32,010,258) |  |
|  | **Net Other Assets and Liabilities — (2.0)%** | (621636)<br>|
|  | **Net Assets — 100.0%** | $31734169 |

---

See Notes to Financial Statements

------

**First Trust AAA CMBS ETF (CAAA)**

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

**Futures Contracts at January 31, 2026** (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 | 31 | Mar-2026 | &nbsp;&nbsp; $6463258 | &nbsp;&nbsp; $(603)<br>|
| U.S. 5-Year Treasury Notes | 5 | Mar-2026 | &nbsp;&nbsp; 544649 | &nbsp;&nbsp; 1234 |
| U.S. 10-Year Treasury Notes | 27 | Mar-2026 | &nbsp;&nbsp; 3019359 | &nbsp;&nbsp; (27690)<br>|
| Ultra 10 Year U.S. Treasury Notes | 8 | Mar-2026 | &nbsp;&nbsp; 913250 | &nbsp;&nbsp; (1125)<br>|
|  |  | &nbsp;&nbsp; Total | &nbsp;&nbsp; $10940516 | &nbsp;&nbsp; $(28184)<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 January 31, 2026, securities noted as such amounted to $14,752,283 or 46.5% 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) Pursuant
 to procedures adopted by the Trust's Board of Trustees, this security has been determined to be illiquid by the Advisor.

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

&nbsp;&nbsp;&nbsp;&nbsp;(g) Rate
 shown reflects yield as of January 31, 2026.

&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 January 31, 2026 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>**1/31/2026**<br>| &nbsp;&nbsp;&nbsp; **Level 1** <br>**Quoted** <br>**Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Mortgage-Backed Securities | &nbsp;&nbsp; $28214815 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $28214815 | &nbsp;&nbsp;&nbsp;&nbsp; $— |
| U.S. Government Agency Mortgage-Backed Securities | &nbsp;&nbsp; 2055966 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2055966 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury Bills | &nbsp;&nbsp; 898931 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 898931 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Money Market Funds | &nbsp;&nbsp; 1186093 | &nbsp;&nbsp;&nbsp;&nbsp; 1186093 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments | &nbsp;&nbsp; 32355805 | &nbsp;&nbsp;&nbsp;&nbsp; 1186093 | &nbsp;&nbsp;&nbsp;&nbsp; 31169712 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Futures Contracts\* | &nbsp;&nbsp; 1234 | &nbsp;&nbsp;&nbsp;&nbsp; 1234 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | &nbsp;&nbsp; $32357039 | &nbsp;&nbsp;&nbsp;&nbsp; $1187327 | &nbsp;&nbsp;&nbsp;&nbsp; $31169712 | &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

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

See Notes to Financial Statements

------

**First Trust AAA CMBS ETF (CAAA)**

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total** <br>**Value at** <br>**1/31/2026**<br>| &nbsp;&nbsp;&nbsp; **Level 1** <br>**Quoted** <br>**Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Futures Contracts\* | &nbsp;&nbsp; $(29418)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(29418)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &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**

**January 31, 2026 (Unaudited)**

&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 — 49.2%** | **MORTGAGE-BACKED SECURITIES — 49.2%** | **MORTGAGE-BACKED SECURITIES — 49.2%** | **MORTGAGE-BACKED SECURITIES — 49.2%** | **MORTGAGE-BACKED SECURITIES — 49.2%** |
|  | **Collateralized Mortgage Obligations — 37.7%** | **Collateralized Mortgage Obligations — 37.7%** | **Collateralized Mortgage Obligations — 37.7%** |  |
|  | BRAVO | BRAVO | BRAVO | BRAVO |
| $255000 | Series 2024-NQM6, Class B1 (a) | 7.30% | 08/01/64 | $261864 |
|  | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust |
| 380000 | Series 2024-NQM5, Class B1 (a) | 7.38% | 06/25/64 | 389942 |
|  | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust |
| 340000 | Series 2021-HX1, Class B3A (a) (b) | 4.12% | 10/25/66 | 260479 |
|  | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust |
| 475000 | Series 2021-R02, Class 2B2, 30 Day Average SOFR + <br> 6.20% (a) (c) | 9.90% | 11/25/41 | 490672 |
| 480000 | Series 2021-R03, Class 1B2, 30 Day Average SOFR + <br> 5.50% (a) (c) | 9.20% | 12/25/41 | 496079 |
| 445000 | Series 2022-R06, Class 1B2, 30 Day Average SOFR + <br> 10.60% (a) (c) | 14.30% | 05/25/42 | 495365 |
|  | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust |
| 1150000 | Series 2021-NQM7, Class B2 (a) (b) | 4.35% | 10/25/66 | 1004265 |
| 1225000 | Series 2021-NQM8, Class B1 (a) | 4.21% | 10/25/66 | 1006117 |
|  | Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust |
| 450000 | Series 2025-H6, Class B1B (a) | 7.59% | 07/25/70 | 453330 |
|  | Deephaven Residential Mortgage Trust | Deephaven Residential Mortgage Trust | Deephaven Residential Mortgage Trust | Deephaven Residential Mortgage Trust |
| 626000 | Series 2021-1, Class B1 (a) | 3.10% | 05/25/65 | 578594 |
| 1535000 | Series 2021-1, Class B2 (a) | 3.96% | 05/25/65 | 1402934 |
| 700000 | Series 2021-2, Class M1 (a) | 2.22% | 04/25/66 | 556426 |
| 500000 | Series 2022-1, Class B1 (a) | 4.26% | 01/25/67 | 428998 |
|  | Easy Street Mortgage Loan Trust | Easy Street Mortgage Loan Trust | Easy Street Mortgage Loan Trust | Easy Street Mortgage Loan Trust |
| 1950000 | Series 2025-RTL2, Class A1, steps up to 7.50% <br> on 12/25/2027 (a) (d) | 5.61% | 10/25/40 | 1961835 |
|  | 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 | 280487 |
| 258000 | Series 2024-INV1, Class B2 (a) (b) | 7.42% | 03/25/69 | 257847 |
| 984519 | Series 2025-NQM6, Class A3, steps up to 6.40% <br> on 12/01/2029 (a) (d) | 5.40% | 12/25/70 | 989976 |
| 1673000 | Series 2025-RTL1, Class M1 (a) | 6.39% | 11/25/40 | 1682060 |
| 860000 | Series 2025-RTL1, Class M2 (a) | 8.33% | 11/25/40 | 869934 |
|  | FARM Mortgage Trust | FARM Mortgage Trust | FARM Mortgage Trust | FARM Mortgage Trust |
| 318447 | Series 2021-1, Class B (a) (b) | 3.23% | 07/25/51 | 250285 |
| 515789 | Series 2024-1, Class B (a) (b) | 5.08% | 10/01/53 | 458758 |
| 1129623 | Series 2025-2, Class B (a) (b) | 5.70% | 09/25/55 | 987291 |
|  | Fidelis Mortgage Trust | Fidelis Mortgage Trust | Fidelis Mortgage Trust | Fidelis Mortgage Trust |
| 1260000 | Series 2025-RTL2, Class A1 (a) (d) | 5.57% | 07/25/40 | 1270286 |
|  | Galton Funding Mortgage Trust | Galton Funding Mortgage Trust | Galton Funding Mortgage Trust | Galton Funding Mortgage Trust |
| 119570 | Series 2018-2, Class B2 (a) | 4.54% | 10/25/58 | 117221 |
|  | GCAT Trust | GCAT Trust | GCAT Trust | GCAT Trust |
| 980988 | Series 2025-INV5, Class A28, 30 Day Average SOFR + <br> 1.50% (a) (c) | 5.20% | 12/25/55 | 989904 |
|  | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust |
| 1795000 | Series 2020-NQM1, Class B1 (a) | 5.14% | 09/27/60 | 1761599 |
| 1500000 | Series 2022-LTV1, Class A14 (a) | 3.00% | 06/25/52 | 1106901 |
| 1089957 | Series 2025-PJ11, Class A27, 30 Day Average SOFR + <br> 1.35% (a) (c) | 5.05% | 05/25/56 | 1097327 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |
|  | Homeward Opportunities Fund Trust | Homeward Opportunities Fund Trust | Homeward Opportunities Fund Trust | Homeward Opportunities Fund Trust |
| $1000000 | Series 2024-RRTL2, Class M1 (a) | 8.16% | 09/25/39 | $1004371 |
| 654000 | Series 2024-RRTL2, Class M2 (a) (b) | 9.08% | 09/25/39 | 654544 |
|  | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
| 294884 | Series 2020-INV1, Class A15 (a) | 3.50% | 08/25/50 | 266534 |
| 270961 | Series 2020-INV1, Class B4 (a) (b) | 4.17% | 08/25/50 | 247593 |
| 83373 | Series 2020-INV1, Class B5 (a) (b) | 4.17% | 08/25/50 | 74765 |
| 300864 | Series 2020-INV1, Class B6Z (a) (e) | 7.03% | 08/25/50 | 280581 |
| 1524576 | Series 2021-12, Class B5 (a) (b) | 3.16% | 02/25/52 | 1251324 |
| 1000000 | Series 2026-1, Class A11, 30 Day Average SOFR + 1.10% (a) (c) | 4.80% | 07/25/56 | 1002492 |
|  | 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) (d) | 8.90% | 03/25/29 | 451077 |
| 255000 | Series 2024-RTL2, Class M, steps up to 13.08% <br> on 10/25/2026 (a) (d) | 11.58% | 03/25/29 | 259126 |
| 275000 | Series 2024-RTL3, Class M, steps up to 12.23% <br> on 12/25/2026 (a) (d) | 10.73% | 05/25/29 | 278512 |
|  | MFA Trust | MFA Trust | MFA Trust | MFA Trust |
| 1170000 | Series 2024-RTL3, Class A1, steps up to 6.91% <br> on 04/25/2027 (a) (d) | 5.91% | 11/25/39 | 1183391 |
| 1000000 | Series 2024-RTL3, Class A2, steps up to 7.53% <br> on 04/25/2027 (a) (d) | 6.54% | 11/25/39 | 1016932 |
|  | Mill City Mortgage Loan Trust | Mill City Mortgage Loan Trust | Mill City Mortgage Loan Trust | Mill City Mortgage Loan Trust |
| 1025000 | Series 2019-GS2, Class B2 (a) (b) | 3.25% | 08/25/59 | 813830 |
|  | Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust |
| 290000 | Series 2025-SPL1, Class B1, steps up to 5.25% on <br> 09/1/2029 (a) (d) | 4.25% | 02/25/65 | 259227 |
| 380000 | Series 2025-SPL1, Class M1, steps up to 5.25% on <br> 09/1/2029 (a) (d) | 4.25% | 02/25/65 | 357285 |
|  | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust |
| 431673 | Series 2014-3A, Class B4 (a) (b) | 5.36% | 11/25/54 | 424515 |
| 1080000 | Series 2019-NQM4, Class B2 (a) (e) | 5.10% | 09/25/59 | 1025975 |
| 930000 | Series 2021-NQ1R, Class B2 (a) | 4.33% | 07/25/55 | 838395 |
| 2000000 | Series 2023-NQM1, Class B2 (a) (b) | 7.49% | 10/25/63 | 1967931 |
| 785000 | Series 2024-NQM1, Class B2 (a) (b) | 7.96% | 03/25/64 | 810679 |
| 440000 | Series 2024-NQM3, Class B2 (a) (b) | 7.14% | 11/25/64 | 437288 |
|  | NLT Trust | NLT Trust | NLT Trust | NLT Trust |
| 334000 | Series 2021-INV2, Class B1 (a) | 3.32% | 08/25/56 | 257653 |
|  | OBX Trust | OBX Trust | OBX Trust | OBX Trust |
| 620000 | Series 2022-NQM2, Class A1B, steps up to 4.38% <br> on 02/01/2026 (a) (d) | 3.38% | 01/25/62 | 572533 |
|  | PMT Loan Trust | PMT Loan Trust | PMT Loan Trust | PMT Loan Trust |
| 1000000 | Series 2026-J1, Class A25, 30 Day Average SOFR + <br> 1.15% (a) (c) | 4.85% | 01/25/57 | 1002495 |
| 1400000 | Series 2026-INV1, Class A36, 30 Day Average SOFR + <br> 1.30% (a) (c) | 5.03% | 01/25/57 | 1406787 |
|  | PRET LLC | PRET LLC | PRET LLC | PRET LLC |
| 690718 | Series 2025-NPL6, Class A1, steps up to 8.74% <br> on 06/25/2028 (a) (d) | 5.74% | 06/25/55 | 693733 |
| 300000 | Series 2025-NPL6, Class A2, steps up to 12.72% on <br> 06/25/29 (a) (d) | 8.72% | 06/25/55 | 302230 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |
|  | PRET LLC (Continued) | PRET LLC (Continued) | PRET LLC (Continued) | PRET LLC (Continued) |
| $278494 | Series 2025-NPL7, Class A1, steps up to 8.65% <br> on 07/25/2028 (a) (d) | 5.66% | 07/25/55 | $279780 |
| 500000 | Series 2025-NPL9, Class A2, steps up to 11.51% on <br> 08/25/29 (a) (d) | 7.51% | 08/25/55 | 504908 |
| 375000 | Series 2025-NPL11, Class A2, steps up to 11.02% <br> on 09/25/2029 (a) (d) | 7.02% | 10/25/55 | 375651 |
| 1100000 | Series 2026-NPL1, Class A2, steps up to 10.53% <br> on 12/25/2029 (a) (d) | 6.54% | 01/25/56 | 1100101 |
| 1080000 | Series 2026-NPL2, Class A1, steps up to 8.15% <br> on 01/25/2029 (a) (d) | 5.07% | 02/25/56 | 1083289 |
|  | PRKCM Trust | PRKCM Trust | PRKCM Trust | PRKCM Trust |
| 371000 | Series 2023-AFC1, Class M1 (a) (b) | 7.40% | 02/25/58 | 370235 |
|  | 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) (d) | 4.00% | 12/25/54 | 296166 |
| 222924 | Series 2025-2, Class A1, steps up to 9.47% on 05/01/2028 (a) (d) | 6.47% | 05/25/30 | 223304 |
| 1000000 | Series 2025-6, Class M1 (a) | 10.56% | 08/25/28 | 1002657 |
| 469239 | Series 2025-7, Class A1, steps up to 8.50% on 08/01/2028 (a) (d) | 5.50% | 08/25/30 | 474687 |
| 500000 | Series 2025-8, Class A2, steps up to 10.19% on 10/1/2028 (a) (d) | 7.20% | 10/25/30 | 501225 |
| 290000 | Series 2025-RCF4, Class M2, steps up to 5.50% <br> on 08/01/2029 (a) (d) | 4.50% | 08/25/55 | 269280 |
| 1000000 | Series 2025-RCF5, Class A3, steps up to 6.46% on <br> 10/1/2029 (a) (d) | 5.46% | 10/25/55 | 1006778 |
| 600000 | Series 2025-RCF6, Class M1, steps up to 6.50% <br> on 12/01/2029 (a) (d) | 5.50% | 12/25/55 | 593477 |
| 350000 | Series 2025-RPL3, Class M1, steps up to 4.25% on <br> 04/1/2028 (a) (d) | 3.25% | 04/25/55 | 328901 |
|  | PRPM Trust | PRPM Trust | PRPM Trust | PRPM Trust |
| 990000 | Series 2026-RCF1, Class M2, steps up to 6.50% <br> on 01/01/2030 (a) (d) | 5.50% | 01/25/56 | 952791 |
|  | Rate Mortgage Trust | Rate Mortgage Trust | Rate Mortgage Trust | Rate Mortgage Trust |
| 967625 | Series 2025-J3, Class A27, 30 Day Average SOFR + <br> 1.55% (a) (c) | 5.25% | 11/25/55 | 976064 |
|  | RCO IX Mortgage LLC | RCO IX Mortgage LLC | RCO IX Mortgage LLC | RCO IX Mortgage LLC |
| 600382 | Series 2025-4, Class A1, steps up to 8.30% on 10/25/2028 (a) (d) | 5.31% | 10/25/30 | 602456 |
| 400000 | Series 2025-4, Class A2, steps up to 10.90% <br> on 10/25/2028 (a) (d) | 6.90% | 10/25/30 | 402355 |
|  | RCO X Mortgage LLC | RCO X Mortgage LLC | RCO X Mortgage LLC | RCO X Mortgage LLC |
| 470812 | Series 2025-1, Class A1, steps up to 8.88% on 01/25/2028 (a) (d) | 5.88% | 01/25/30 | 473455 |
|  | Redwood Funding Trust | Redwood Funding Trust | Redwood Funding Trust | Redwood Funding Trust |
| 489758 | Series 2025-2, Class A (a) (d) | 7.11% | 10/25/55 | 495116 |
| 432166 | Series 2025-3, Class A (a) | 6.23% | 12/27/56 | 434472 |
| 255000 | Series 2025-3, Class B (a) | 7.75% | 12/27/56 | 257198 |
|  | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust |
| 325000 | Series 2024-INV1, Class B1 (a) (b) | 7.14% | 08/25/59 | 334502 |
| 255000 | Series 2024-RTL4, Class A2, steps up to 8.50% on <br> 07/01/26 (a) (d) | 7.50% | 02/25/30 | 255432 |
|  | Saluds Grade Alternative Mortgage Trust | Saluds Grade Alternative Mortgage Trust | Saluds Grade Alternative Mortgage Trust | Saluds Grade Alternative Mortgage Trust |
| 500000 | Series 2025-RRTL1, Class M2 (a) | 8.42% | 10/25/40 | 494449 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |
|  | SG Residential Mortgage Trust | SG Residential Mortgage Trust | SG Residential Mortgage Trust | SG Residential Mortgage Trust |
| $521000 | Series 2019-3, Class B2 (a) | 5.66% | 09/25/59 | $510220 |
| 938147 | Series 2022-1, Class A1 (a) | 3.17% | 03/27/62 | 891896 |
| 453432 | Series 2022-2, Class A1, steps up to 6.35% on 07/01/2026 (a) (d) | 5.35% | 08/25/62 | 453754 |
|  | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust |
| 895000 | Series 2020-3, Class B2 (a) (b) | 4.75% | 04/25/65 | 791092 |
|  | 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) (d) | 8.65% | 10/25/31 | 759405 |
| 300000 | Series 2024-RRTL1, Class A1, steps up to 7.59% <br> on 08/25/2026 (a) (d) | 6.60% | 02/25/39 | 301023 |
|  | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
| 1250000 | Series 2017-4, Class B4 (a) | 3.64% | 06/25/57 | 989760 |
|  | Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust |
| 375000 | Series 2021-R2, Class B2 (a) | 4.26% | 02/25/64 | 298088 |
| 367000 | Series 2021-5, Class B2 (a) | 3.94% | 09/25/66 | 286669 |
| 735000 | Series 2022-1, Class B1 (a) | 4.01% | 01/25/67 | 591451 |
| 1000000 | Series 2023-INV1, Class B2 (a) (b) | 7.44% | 02/25/68 | 996149 |
| 265000 | Series 2024-2, Class B1 (a) | 7.86% | 02/25/69 | 269656 |
| 385000 | Series 2024-3, Class B1 (a) | 8.03% | 04/25/69 | 394441 |
| 125000 | Series 2024-5, Class B1 (a) | 7.79% | 06/25/69 | 128493 |
| 248000 | Series 2024-6, Class B1 (a) (b) | 7.22% | 07/25/69 | 252329 |
| 1500000 | Series 2024-7, Class B2 (a) (b) | 7.81% | 09/25/69 | 1515172 |
| 510000 | Series 2024-INV2, Class B2 (a) (b) | 7.95% | 08/26/69 | 514372 |
| 315000 | Series 2025-1, Class B1 (a) | 7.01% | 01/25/70 | 321593 |
| 150000 | Series 2025-INV1, Class B1 (a) | 6.95% | 02/25/70 | 151934 |
|  | Visio Trust | Visio Trust | Visio Trust | Visio Trust |
| 330000 | Series 2023-2, Class M1 (a) (b) | 7.71% | 10/25/58 | 333118 |
|  | Wells Fargo Mortgage Backed Securities Trust | Wells Fargo Mortgage Backed Securities Trust | Wells Fargo Mortgage Backed Securities Trust | Wells Fargo Mortgage Backed Securities Trust |
| 859881 | Series 2020-1, Class B2 (a) (b) | 3.36% | 12/25/49 | 775415 |
|  |  |  |  | 66663333 |
|  | **Commercial Mortgage-Backed Securities — 11.5%** | **Commercial Mortgage-Backed Securities — 11.5%** | **Commercial Mortgage-Backed Securities — 11.5%** |  |
|  | BANK | BANK | BANK | BANK |
| 2062493 | Series 2019-BN16, Class XA, IO (b) | 0.93% | 02/15/52 | 44125 |
| 2805105 | Series 2019-BN21, Class XA, IO (b) | 0.83% | 10/17/52 | 67421 |
| 1047926 | Series 2019-BN22, Class XA, IO (b) | 0.58% | 11/15/62 | 20244 |
| 968853 | Series 2019-BN24, Class XA, IO (b) | 0.63% | 11/15/62 | 21113 |
| 478000 | Series 2020-BN25, Class A5 | 2.65% | 01/15/63 | 445731 |
| 7500000 | Series 2021-BN31, Class XB, IO (b) | 0.87% | 02/15/54 | 281025 |
| 10004509 | Series 2023-BNK46, Class XA, IO (b) | 0.62% | 08/15/56 | 330159 |
|  | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
| 1368000 | Series 2018-TALL, Class A, 1 Mo. CME Term SOFR + CSA + <br> 0.87% (a) (c) | 4.60% | 03/15/37 | 1308517 |
| 3298764 | Series 2020-C6, Class XA, IO (b) | 1.02% | 02/15/53 | 108257 |
| 1243302 | Series 2020-C7, Class XA, IO (b) | 1.59% | 04/15/53 | 52854 |
| 4999047 | Series 2024-5C25, Class XA, IO (b) | 1.19% | 03/15/57 | 163716 |
|  | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
| 4939160 | Series 2019-B13, Class XA, IO (b) | 1.08% | 08/15/57 | 151705 |
| 1302280 | Series 2020-B20, Class XA, IO (b) | 1.52% | 10/15/53 | 62407 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 (Continued) | Benchmark Mortgage Trust (Continued) | Benchmark Mortgage Trust (Continued) | Benchmark Mortgage Trust (Continued) |
| $4255884 | Series 2021-B29, Class XA, IO (b) | 1.01% | 09/15/54 | $144490 |
| 4437107 | Series 2024-V6, Class XA, IO (b) | 1.33% | 03/15/57 | 162295 |
|  | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
| 9498538 | Series 2025-C13, Class XA, IO (b) | 1.01% | 10/15/58 | 733874 |
|  | BWAY Trust | BWAY Trust | BWAY Trust | BWAY Trust |
| 415000 | Series 2025-1535, Class A (a) (b) | 6.52% | 05/05/42 | 428648 |
| 1000000 | Series 2025-1535, Class B (a) (b) | 7.71% | 05/05/42 | 1051194 |
|  | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust |
| 1382973 | Series 2019-IMC, Class A, 1 Mo. CME Term SOFR + CSA + <br> 1.00% (a) (c) | 4.73% | 04/15/34 | 1378044 |
|  | BX Trust | BX Trust | BX Trust | BX Trust |
| 600000 | Series 2025-DELC, Class E, 1 Mo. CME Term SOFR + <br> 3.05% (a) (c) | 6.73% | 12/15/42 | 606257 |
| 500000 | Series 2025-VOLT, Class A, 1 Mo. CME Term SOFR + <br> 1.70% (a) (c) | 5.38% | 12/15/44 | 503191 |
|  | CALI | CALI | CALI | CALI |
| 300000 | Series 2024-SUN, Class D, 1 Mo. CME Term SOFR + <br> 3.63% (a) (c) | 7.30% | 07/15/41 | 302635 |
|  | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust |
| 7336099 | Series 2017-C8, Class XA, IO (b) | 1.46% | 06/15/50 | 82647 |
|  | COMM Mortgage Trust | COMM Mortgage Trust | COMM Mortgage Trust | COMM Mortgage Trust |
| 600000 | Series 2024-CBM, Class G (a) (b) | 7.93% | 12/10/41 | 546244 |
|  | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust |
| 267975 | Series 2015-C3, Class B (b) | 3.88% | 08/15/48 | 254933 |
|  | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust |
| 924178 | Series 2020-GC45, Class XA, IO (b) | 0.61% | 02/13/53 | 18236 |
| 1643879 | Series 2020-GC47, Class XA, IO (b) | 1.12% | 05/12/53 | 62938 |
| 1830000 | Series 2024-FAIR, Class E (a) (b) | 9.45% | 07/15/29 | 1845655 |
|  | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust | JP Morgan Chase Commercial Mortgage Securities Trust |
| 4096964 | Series 2019-COR5, Class XA, IO (b) | 1.43% | 06/13/52 | 145055 |
| 1000000 | Series 2025-PHNY, Class C, 1 Mo. CME Term SOFR + <br> 2.54% (a) (c) | 6.22% | 01/15/41 | 1005111 |
|  | MCR Mortgage Trust | MCR Mortgage Trust | MCR Mortgage Trust | MCR Mortgage Trust |
| 300000 | Series 2024-TWA, Class E (a) | 8.73% | 06/12/39 | 304219 |
| 115000 | Series 2024-TWA, Class F (a) | 10.38% | 06/12/39 | 117600 |
|  | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust |
| 1000000 | Series 2019-L2, Class C (b) | 4.97% | 03/15/52 | 885236 |
| 11218816 | Series 2019-L2, Class XA, IO (b) | 1.00% | 03/15/52 | 283466 |
| 5620795 | Series 2019-L3, Class XA, IO (b) | 0.59% | 11/15/52 | 109825 |
|  | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust |
| 400000 | Series 2025-PARK, Class A, 1 Mo. CME Term SOFR + <br> 1.39% (a) (c) | 5.07% | 10/15/40 | 401800 |
|  | 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> 2.54% (a) (c) | 6.34% | 11/15/38 | 318232 |
|  | 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) (c) | 4.94% | 05/15/38 | 500274 |
| 1000000 | Series 2021-555, Class D, 1 Mo. CME Term SOFR + CSA + <br> 2.40% (a) (c) | 6.19% | 05/15/38 | 997807 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |  |
|  | SHR Trust | SHR Trust | SHR Trust | SHR Trust |
| $250000 | Series 2024-LXRY, Class E, 1 Mo. CME Term SOFR + <br> 4.45% (a) (c) | 8.13% | 10/15/41 | $253166 |
|  | SKY Trust | SKY Trust | SKY Trust | SKY Trust |
| 991943 | Series 2025-LINE, Class A, 1 Mo. CME Term SOFR + <br> 2.59% (a) (c) | 6.27% | 04/15/42 | 998904 |
|  | SWCH Commercial Mortgage Trust | SWCH Commercial Mortgage Trust | SWCH Commercial Mortgage Trust | SWCH Commercial Mortgage Trust |
| 2000000 | Series 2025-DATA, Class A, 1 Mo. CME Term SOFR + <br> 1.44% (a) (c) | 5.12% | 02/15/42 | 1988585 |
|  | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
| 3369524 | Series 2021-C59, Class XA, IO (b) | 1.48% | 04/15/54 | 186057 |
| 10867653 | Series 2021-C60, Class XA, IO (b) | 1.49% | 08/15/54 | 641850 |
|  |  |  |  | 20315742 |
|  | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | 86979075 |
|  | (Cost $86,440,563) | (Cost $86,440,563) | (Cost $86,440,563) |  |
| **ASSET-BACKED SECURITIES — 26.7%** | **ASSET-BACKED SECURITIES — 26.7%** | **ASSET-BACKED SECURITIES — 26.7%** | **ASSET-BACKED SECURITIES — 26.7%** | **ASSET-BACKED SECURITIES — 26.7%** |
|  | AGL CLO 19 Ltd. | AGL CLO 19 Ltd. | AGL CLO 19 Ltd. | AGL CLO 19 Ltd. |
| 415000 | Series 2022-19A, Class ER, 3 Mo. CME Term SOFR + <br> 5.50% (a) (c) | 9.17% | 07/21/38 | 421061 |
|  | 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) (c) | 8.32% | 07/25/38 | 261358 |
|  | Carmax Select Receivables Trust | Carmax Select Receivables Trust | Carmax Select Receivables Trust | Carmax Select Receivables Trust |
| 2350000 | Series 2025-B, Class E (a) | 6.89% | 09/15/32 | 2387987 |
|  | CIFC Funding Ltd. | CIFC Funding Ltd. | CIFC Funding Ltd. | CIFC Funding Ltd. |
| 1000000 | Series 2018-1A, Class D1R, 3 Mo. CME Term SOFR + <br> 2.80% (a) (c) | 6.47% | 01/18/38 | 1006386 |
|  | CoreVest American Finance Trust | CoreVest American Finance Trust | CoreVest American Finance Trust | CoreVest American Finance Trust |
| 234006 | Series 2021-1, Class A (a) | 1.57% | 04/15/53 | 230977 |
| 457077 | Series 2021-2, Class A (a) | 1.41% | 07/15/54 | 445319 |
|  | Diameter Capital CLO 4 Ltd. | Diameter Capital CLO 4 Ltd. | Diameter Capital CLO 4 Ltd. | Diameter Capital CLO 4 Ltd. |
| 1000000 | Series 2022-4A, Class ERR, 3 Mo. CME Term SOFR + <br> 4.55% (a) (c) | 8.22% | 01/15/39 | 1003891 |
|  | Diameter Capital CLO 5 Ltd. | Diameter Capital CLO 5 Ltd. | Diameter Capital CLO 5 Ltd. | Diameter Capital CLO 5 Ltd. |
| 250000 | Series 2023-5A, Class C2R, 3 Mo. CME Term SOFR + <br> 3.60% (a) (c) | 7.27% | 01/15/39 | 249398 |
| 500000 | Series 2023-5A, Class DR, 3 Mo. CME Term SOFR + <br> 4.85% (a) (c) | 8.52% | 01/15/39 | 505330 |
|  | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust |
| 994000 | Series 2024-1A, Class E (a) | 7.89% | 08/15/31 | 1041341 |
| 1154000 | Series 2024-2A, Class E (a) | 7.98% | 10/15/31 | 1219467 |
| 750000 | Series 2025-2A, Class E (a) | 7.81% | 10/15/32 | 782633 |
| 1000000 | Series 2025-3A, Class E (a) | 7.52% | 12/15/32 | 1036388 |
| 1000000 | Series 2025-5A, Class D | 5.16% | 03/15/32 | 1007932 |
|  | 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 | 774308 |
| 337000 | Series 2025-1, Class E (a) | 8.44% | 12/15/32 | 351621 |
| 350000 | Series 2025-2, Class E (a) | 6.87% | 02/15/33 | 343879 |
| 500000 | Series 2025-3, Class C | 5.00% | 03/15/32 | 506120 |
| 500000 | Series 2025-3, Class D | 5.54% | 05/17/32 | 505810 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
|  | Flagship Credit Auto Trust | Flagship Credit Auto Trust | Flagship Credit Auto Trust | Flagship Credit Auto Trust |
| $1300000 | Series 2024-1, Class D (a) | 6.30% | 04/15/30 | $1300615 |
|  | FNA VI LLC | FNA VI LLC | FNA VI LLC | FNA VI LLC |
| 31969 | Series 2021-1A, Class A (a) | 1.35% | 01/10/32 | 30000 |
|  | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust |
| 1005000 | Series 2024-4A, Class E (a) | 7.51% | 08/15/31 | 1045114 |
|  | GLS Auto Select Receivables Issuer Trust | GLS Auto Select Receivables Issuer Trust | GLS Auto Select Receivables Issuer Trust | GLS Auto Select Receivables Issuer Trust |
| 500000 | Series 2025-4A, Class C (a) | 5.14% | 12/15/31 | 503808 |
| 2700000 | Series 2025-4A, Class D (a) | 5.61% | 01/18/33 | 2734576 |
|  | Gracie Point International Funding LLC | Gracie Point International Funding LLC | Gracie Point International Funding LLC | Gracie Point International Funding LLC |
| 920000 | Series 2025-1A, Class A, 30 Day Average SOFR + 1.50% (a) (c) | 5.30% | 08/15/28 | 922354 |
| 1200000 | Series 2025-1A, Class D, 30 Day Average SOFR + 4.50% (a) (c) | 8.30% | 08/15/28 | 1200987 |
|  | Island Finance Trust | Island Finance Trust | Island Finance Trust | Island Finance Trust |
| 1000000 | Series 2025-1A, Class A (a) | 6.54% | 03/19/35 | 1013037 |
| 650000 | Series 2025-1A, Class B (a) | 7.95% | 03/19/35 | 659001 |
| 300000 | Series 2025-1A, Class C (a) | 10.00% | 03/19/35 | 306127 |
|  | Kinetic ABS Issuer LLC | Kinetic ABS Issuer LLC | Kinetic ABS Issuer LLC | Kinetic ABS Issuer LLC |
| 3500000 | Series 2026-1A, Class C (a) | 7.65% | 02/25/56 | 3571094 |
|  | LMRK Issuer Co. 2 LLC | LMRK Issuer Co. 2 LLC | LMRK Issuer Co. 2 LLC | LMRK Issuer Co. 2 LLC |
| 1000000 | Series 2025-1A, Class A (a) | 5.52% | 09/15/55 | 1010952 |
| 500000 | Series 2025-1A, Class C (a) | 8.12% | 09/15/55 | 511593 |
|  | Luxury Lease Partners Auto Lease Trust | Luxury Lease Partners Auto Lease Trust | Luxury Lease Partners Auto Lease Trust | Luxury Lease Partners Auto Lease Trust |
| 922588 | Series 2025-A, Class A (a) | 5.51% | 03/15/32 | 924526 |
|  | Madison Park Funding LXI Ltd. | Madison Park Funding LXI Ltd. | Madison Park Funding LXI Ltd. | Madison Park Funding LXI Ltd. |
| 1000000 | Series 2023-61A, Class ER, 3 Mo. CME Term SOFR + <br> 6.10% (a) (c) | 9.74% | 01/20/39 | 1012997 |
|  | Magnetite XLVII Ltd. | Magnetite XLVII Ltd. | Magnetite XLVII Ltd. | Magnetite XLVII Ltd. |
| 1000000 | Series 2024-47A, Class F, 3 Mo. CME Term SOFR + <br> 7.22% (a) (c) | 10.89% | 01/25/38 | 979967 |
|  | Magnetite XXIII Ltd. | Magnetite XXIII Ltd. | Magnetite XXIII Ltd. | Magnetite XXIII Ltd. |
| 1000000 | Series 2019-23A, Class ER2, 3 Mo. CME Term SOFR + <br> 4.60% (a) (c) (f) | 0.00% | 01/25/35 | 1002500 |
|  | Magnetite XXVII Ltd. | Magnetite XXVII Ltd. | Magnetite XXVII Ltd. | Magnetite XXVII Ltd. |
| 260000 | Series 2020-27A, Class FRR, 3 Mo. CME Term SOFR + <br> 6.84% (a) (c) | 10.51% | 10/20/38 | 252452 |
|  | 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) (c) | 10.87% | 04/20/38 | 252612 |
|  | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust |
| 176001 | Series 2024-8, Class D (a) | 6.53% | 01/15/32 | 177166 |
| 217028 | Series 2024-10, Class E (a) | 10.41% | 06/15/32 | 223668 |
| 399985 | Series 2025-5, Class C (a) | 5.64% | 03/15/33 | 401674 |
| 1500000 | Series 2025-7, Class E (a) | 8.89% | 05/15/33 | 1504542 |
| 2000000 | Series 2026-1, Class E (a) (f) (g) | 9.23% | 09/15/33 | 2000000 |
|  | Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust |
| 104685 | Series 2024-2, Class C (a) | 7.57% | 08/15/31 | 105024 |
| 89349 | Series 2024-3, Class D (a) | 9.00% | 10/15/31 | 89691 |
|  | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust |
| 1186337 | Series 2025-1A, Class A (a) | 5.04% | 06/27/33 | 1192315 |
| 275000 | Series 2025-3A, Class A2 (a) | 5.15% | 02/27/34 | 277316 |
|  | Research-Driven Pagaya Motor Trust | Research-Driven Pagaya Motor Trust | Research-Driven Pagaya Motor Trust | Research-Driven Pagaya Motor Trust |
| 250000 | Series 2025-5A, Class C (a) | 5.47% | 06/26/34 | 251674 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** |
|  | Research-Driven Pagaya Motor Trust (Continued) | Research-Driven Pagaya Motor Trust (Continued) | Research-Driven Pagaya Motor Trust (Continued) | Research-Driven Pagaya Motor Trust (Continued) |
| $250000 | Series 2025-5A, Class D (a) | 6.01% | 06/26/34 | $250836 |
| 750000 | Series 2025-5A, Class E (a) | 9.22% | 06/26/34 | 760122 |
| 725000 | Series 2025-6A, Class C (a) | 5.53% | 08/25/34 | 725660 |
|  | 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) (c) | 11.49% | 07/20/38 | 252075 |
|  | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust |
| 484514 | Series 2025-NPL1, Class A1, steps up to 10.12% on <br> 12/01/27 (a) (d) | 7.12% | 01/25/30 | 488242 |
|  | 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) (c) | 10.60% | 07/15/38 | 267235 |
|  | Sixth Street CLO XVIII Ltd. | Sixth Street CLO XVIII Ltd. | Sixth Street CLO XVIII Ltd. | Sixth Street CLO XVIII Ltd. |
| 400000 | Series 2021-18A, Class FR, 3 Mo. CME Term SOFR + <br> 8.02% (a) (c) | 11.69% | 10/17/38 | 390913 |
|  | Vertical Bridge CC LLC | Vertical Bridge CC LLC | Vertical Bridge CC LLC | Vertical Bridge CC LLC |
| 2000000 | Series 2025-1A, Class B (a) | 5.60% | 08/16/55 | 2003270 |
| 550000 | Series 2025-1A, Class C (a) | 7.45% | 08/16/55 | 563023 |
|  | Whitebox CLO II Ltd. | Whitebox CLO II Ltd. | Whitebox CLO II Ltd. | Whitebox CLO II Ltd. |
| 500000 | Series 2020-2A, Class E1R2, 3 Mo. CME Term SOFR + <br> 5.75% (a) (c) | 9.42% | 10/24/37 | 503692 |
|  | Whitebox CLO V Ltd. | Whitebox CLO V Ltd. | Whitebox CLO V Ltd. | Whitebox CLO V Ltd. |
| 500000 | Series 2025-5A, Class D2, 3 Mo. CME Term SOFR + <br> 4.10% (a) (c) | 7.77% | 07/20/38 | 502638 |
| 1000000 | Series 2025-5A, Class E, 3 Mo. CME Term SOFR + <br> 5.25% (a) (c) | 8.92% | 07/20/38 | 1004265 |
|  | **Total Asset-Backed Securities** | **Total Asset-Backed Securities** | **Total Asset-Backed Securities** | 47250559 |
|  | (Cost $46,972,693) | (Cost $46,972,693) | (Cost $46,972,693) |  |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 18.4%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 18.4%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 18.4%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 18.4%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 18.4%** |
|  | **Collateralized Mortgage Obligations — 12.0%** | **Collateralized Mortgage Obligations — 12.0%** | **Collateralized Mortgage Obligations — 12.0%** |  |
|  | Federal Home Loan Mortgage Corporation |  |  |  |
| 1295791 | Series 2022-5266, Class FA, 30 Day Average SOFR + 0.82% (c) | 4.52% | 09/25/52 | 1292427 |
| 2016890 | Series 2023-5325, Class SA, (30 Day Average SOFR) ×-2+ <br> 11.40% (h) | 4.01% | 11/25/52 | 1871363 |
| 749040 | Series 2024-5435, Class BS, (30 Day Average SOFR) ×-2+ <br> 11.93% (h) | 4.53% | 07/25/54 | 692752 |
| 308851 | Series 2024-5460, Class FN, 30 Day Average SOFR + 1.10% (c) | 4.80% | 10/25/54 | 310644 |
| 1334179 | Series 2025-5502, Class FD, 30 Day Average SOFR + 1.60% (c) | 5.30% | 02/25/55 | 1354077 |
| 1441080 | Series 2025-5508, Class FE, 30 Day Average SOFR + 1.60% (c) | 5.30% | 02/25/55 | 1462814 |
|  | Federal Home Loan Mortgage Corporation Seasoned Credit Risk <br> Transfer Trust |  |  |  |
| 1187665 | Series 2017-4, Class M (a) | 4.75% | 06/25/57 | 1181162 |
|  | Federal Home Loan Mortgage Corporation STACR REMIC Trust |  |  |  |
| 1850000 | Series 2021-HQA1, Class B2, 30 Day Average SOFR + <br> 5.00% (a) (c) | 8.70% | 08/25/33 | 2189535 |
| 1000000 | Series 2022-HQA1, Class B2, 30 Day Average SOFR + <br> 11.00% (a) (c) | 14.70% | 03/25/42 | 1101254 |
| 500000 | Series 2024-DNA2, Class M2, 30 Day Average SOFR + <br> 1.70% (a) (c) | 5.40% | 05/25/44 | 503079 |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 Home Loan Mortgage Corporation STACR REMIC Trust <br> (Continued) |  |  |  |
| $1057000 | Series 2025-DNA2, Class A1, 30 Day Average SOFR + <br> 1.10% (a) (c) | 4.80% | 05/25/45 | $1059891 |
| 600000 | Series 2025-DNA4, Class M2, 30 Day Average SOFR + <br> 1.55% (a) (c) | 5.25% | 10/25/45 | 602729 |
|  | Federal National Mortgage Association |  |  |  |
| 80787 | Series 2016-63, Class AF, 30 Day Average SOFR + CSA + <br> 0.50% (c) | 4.31% | 09/25/46 | 79839 |
| 945497 | Series 2023-51, PO | (i) | 11/25/53 | 815448 |
| 1127259 | Series 2023-54, Class PO, PO | (i) | 11/25/53 | 987634 |
| 916185 | Series 2025-6, Class LF, 30 Day Average SOFR + 1.80% (c) | 5.50% | 02/25/55 | 929662 |
| 971013 | Series 2025-49, Class FA, 30 Day Average SOFR + 0.80% (c) | 4.50% | 06/25/55 | 971044 |
|  | Government National Mortgage Association |  |  |  |
| 1304745 | Series 2024-79, Class VB, (30 Day Average SOFR) ×-1.50+ <br> 10.95% (h) | 5.40% | 05/20/54 | 1262427 |
| 842426 | Series 2025-4, Class FY, 30 Day Average SOFR + 1.60% (c) | 5.30% | 01/20/55 | 853640 |
| 751216 | Series 2025-100, Class JS, (30 Day Average SOFR) ×-2.75+ <br> 15.95% (h) | 5.77% | 06/20/55 | 728353 |
| 1206491 | Series 2025-164, Class PO | (i) | 08/20/54 | 963077 |
|  |  |  |  | 21212851 |
|  | **Commercial Mortgage-Backed Securities — 5.2%** | **Commercial Mortgage-Backed Securities — 5.2%** | **Commercial Mortgage-Backed Securities — 5.2%** |  |
|  | Federal Home Loan Mortgage Corporation Multiclass Certificates |  |  |  |
| 1500000 | Series 2020-RR07, Class AX, IO (e) | 2.47% | 09/27/28 | 77177 |
|  | Federal Home Loan Mortgage Corporation Multifamily Structured <br> Pass-Through Certificates |  |  |  |
| 49076687 | Series 2021-K124, Class X1, IO (b) | 0.71% | 12/25/30 | 1434286 |
| 940000 | Series 2024-K755, Class X3, IO (b) | 5.64% | 02/25/31 | 224639 |
|  | Government National Mortgage Association |  |  |  |
| 22164347 | Series 2021-31, Class IO, IO (b) | 0.94% | 01/16/61 | 1541612 |
| 1892043 | Series 2024-32, IO (b) | 0.70% | 06/16/63 | 98214 |
| 27615208 | Series 2024-47, Class AI, IO | 0.75% | 06/16/64 | 1406779 |
| 21052712 | Series 2025-21, Class IO, IO (b) | 0.95% | 04/16/65 | 1481917 |
| 15936690 | Series 2025-153, Class IO, IO (b) | 0.85% | 09/16/67 | 1202379 |
| 26805184 | Series 2025-206, Class IO, IO (b) | 0.80% | 04/16/64 | 1626531 |
|  |  |  |  | 9093534 |
|  | **Pass-Through Securities — 1.2%** | **Pass-Through Securities — 1.2%** | **Pass-Through Securities — 1.2%** |  |
|  | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| 743223 | Pool MA4271  | 1.50% | 02/01/51 | 560908 |
| 136000 | Pool TBA  | 3.00% | 03/15/56 | 120458 |
| 134000 | Pool TBA  | 3.50% | 03/15/56 | 123807 |
| 67000 | Pool TBA (j) | 4.00% | 03/15/56 | 63926 |
| 750000 | Pool TBA  | 5.50% | 03/15/56 | 759583 |
| 11000 | Pool TBA  | 3.00% | 04/15/56 | 9740 |
| 186000 | Pool TBA  | 3.50% | 04/15/56 | 171612 |
|  | Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
| 309000 | Pool TBA  | 5.50% | 04/15/56 | 311711 |
|  |  |  |  | 2121745 |
|  | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | 32428130 |
|  | (Cost $32,479,375) | (Cost $32,479,375) | (Cost $32,479,375) |  |

---

See Notes to Financial Statements

------

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

**Portfolio of Investments (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. TREASURY BILLS — 6.8%** | **U.S. TREASURY BILLS — 6.8%** | **U.S. TREASURY BILLS — 6.8%** | **U.S. TREASURY BILLS — 6.8%** |
| $1000000 | U.S. Treasury Bill <br> (i) | 02/03/26 | $999901 |
| 1000000 | U.S. Treasury Bill <br> (i) | 02/05/26 | 999701 |
| 3000000 | U.S. Treasury Bill <br> (i) | 02/10/26 | 2997620 |
| 1000000 | U.S. Treasury Bill <br> (i) | 02/12/26 | 999003 |
| 3000000 | U.S. Treasury Bill <br> (i) | 02/17/26 | 2995487 |
| 3000000 | U.S. Treasury Bill <br> (i) | 02/19/26 | 2994906 |
|  | **Total U.S. Treasury Bills** | **Total U.S. Treasury Bills** | 11986618 |
|  | (Cost $11,985,173) | (Cost $11,985,173) |  |

---

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

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 2.4%** | **MONEY MARKET FUNDS — 2.4%** | **MONEY MARKET FUNDS — 2.4%** |
| 4166796 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 3.56% (k) | 4166796 |
|  | (Cost $4,166,796) |  |
|  | **Total Investments — 103.5%** | 182811178 |
|  | (Cost $182,044,600) |  |

---

&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 | $242063 | $96.75 | 12/11/26 | 612 |
| 4 | U.S. 5-Year Treasury Note Futures | 435719 | 109.00 | 02/20/26 | 969 |
| 2 | U.S. 5-Year Treasury Note Futures | 217859 | 109.25 | 02/20/26 | 312 |
| 2 | U.S. 5-Year Treasury Note Futures | 217859 | 109.75 | 02/20/26 | 141 |
| 2 | U.S. 10-Year Treasury Note Futures | 223656 | 112.50 | 02/20/26 | 375 |
|  | **Total Call Options Purchased** | **Total Call Options Purchased** | **Total Call Options Purchased** | **Total Call Options Purchased** | 2409 |
|  | (Cost $11,570) | (Cost $11,570) | (Cost $11,570) | (Cost $11,570) |  |
|  | **Put Options Purchased — 0.0%** | **Put Options Purchased — 0.0%** | **Put Options Purchased — 0.0%** | **Put Options Purchased — 0.0%** |  |
| 4 | U.S. 5-Year Treasury Note Futures | 435719 | 109.00 | 02/20/26 | 1250 |
| 2 | U.S. 5-Year Treasury Note Futures | 217859 | 109.25 | 02/20/26 | 953 |
| 2 | U.S. 5-Year Treasury Note Futures | 217859 | 109.75 | 02/20/26 | 1781 |
| 2 | U.S. 10-Year Treasury Note Futures | 223656 | 112.50 | 02/20/26 | 1719 |
| 14 | U.S. Treasury Long Bond Futures | 1611750 | 105.00 | 02/20/26 | 219 |
|  | **Total Put Options Purchased** | **Total Put Options Purchased** | **Total Put Options Purchased** | **Total Put Options Purchased** | 5922 |
|  | (Cost $15,016) | (Cost $15,016) | (Cost $15,016) | (Cost $15,016) |  |
|  | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | 8331 |
|  | (Cost $26,586) | (Cost $26,586) | (Cost $26,586) | (Cost $26,586) |  |

---

&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 — (2.6)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (2.6)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (2.6)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (2.6)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (2.6)%** |
|  | **Pass-Through Securities — (2.6)%** | **Pass-Through Securities — (2.6)%** | **Pass-Through Securities — (2.6)%** |  |
|  | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |  |
| $(1473000) | Pool TBA (j) | 4.00% | 04/15/56 | (1404254)<br>|
| (1865000) | Pool TBA (j) | 4.50% | 04/15/56 | (1822978)<br>|
| (1328000) | Pool TBA (j) | 5.00% | 04/15/56 | (1324625)<br>|
|  | **Total Investments Sold Short — (2.6)%** | **Total Investments Sold Short — (2.6)%** | **Total Investments Sold Short — (2.6)%** | (4551857)<br>|
|  | (Proceeds $4,553,818) | (Proceeds $4,553,818) | (Proceeds $4,553,818) |  |

---

&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)**

**January 31, 2026 (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of** <br>**Contracts**<br>| **Description** | **Notional** <br>**Amount**<br>| **Exercise** <br>**Price**<br>| **Expiration** <br>**Date**<br>| **Value** |
| **WRITTEN OPTIONS — (0.0)%** | **WRITTEN OPTIONS — (0.0)%** | **WRITTEN OPTIONS — (0.0)%** | **WRITTEN OPTIONS — (0.0)%** | **WRITTEN OPTIONS — (0.0)%** | **WRITTEN OPTIONS — (0.0)%** |
|  | **Call Options Written — (0.0)%** | **Call Options Written — (0.0)%** | **Call Options Written — (0.0)%** | **Call Options Written — (0.0)%** |  |
| (2) | 3 Month SOFR Futures | $(484125)<br>| $97.50 | 12/11/26 | $(325)<br>|
| (4) | U.S. 2-Year Treasury Note Futures | (834563)<br>| 104.75 | 05/22/26 | (1000)<br>|
| (16) | U.S. 5-Year Treasury Note Futures | (1742125)<br>| 110.00 | 05/22/26 | (5000)<br>|
| (19) | U.S. 10-Year Treasury Note Futures | (2124734)<br>| 115.50 | 02/20/26 | (594)<br>|
| (2) | U.S. 10-Year Treasury Note Futures | (223313)<br>| 115.00 | 05/22/26 | (469)<br>|
| (18) | U.S. Treasury Long Bond Futures | (2072250)<br>| 121.00 | 02/20/26 | (1125)<br>|
| (1) | U.S. Treasury Long Bond Futures | (114656)<br>| 121.00 | 05/22/26 | (609)<br>|
| (21) | U.S. Treasury Long Bond Futures | (2407781)<br>| 122.00 | 05/22/26 | (10172)<br>|
| (13) | U.S. Treasury Long Bond Futures | (1490531)<br>| 123.00 | 05/22/26 | (5078)<br>|
|  | **Total Call Options Written** | **Total Call Options Written** | **Total Call Options Written** | **Total Call Options Written** | (24372)<br>|
|  | (Premiums received $50,711) | (Premiums received $50,711) | (Premiums received $50,711) | (Premiums received $50,711) |  |
|  | **Put Options Written — (0.0)%** | **Put Options Written — (0.0)%** | **Put Options Written — (0.0)%** | **Put Options Written — (0.0)%** |  |
| (4) | U.S. 5-Year Treasury Note Futures | (435531)<br>| 108.00 | 05/22/26 | (1344)<br>|
| (5) | U.S. 5-Year Treasury Note Futures | (544414)<br>| 108.25 | 05/22/26 | (2070)<br>|
| (6) | U.S. 5-Year Treasury Note Futures | (653297)<br>| 109.00 | 05/22/26 | (4500)<br>|
| (26) | U.S. 10-Year Treasury Note Futures | (2907531)<br>| 110.50 | 02/20/26 | (1625)<br>|
| (4) | U.S. 10-Year Treasury Note Futures | (446625)<br>| 110.50 | 05/22/26 | (2438)<br>|
| (5) | U.S. 10-Year Treasury Note Futures | (558281)<br>| 111.00 | 05/22/26 | (3906)<br>|
| (19) | U.S. Treasury Long Bond Futures | (2187375)<br>| 112.00 | 02/20/26 | (2672)<br>|
| (1) | U.S. Treasury Long Bond Futures | (114656)<br>| 109.00 | 05/22/26 | (766)<br>|
| (4) | U.S. Treasury Long Bond Futures | (458625)<br>| 110.00 | 05/22/26 | (3812)<br>|
| (13) | U.S. Treasury Long Bond Futures | (1490531)<br>| 111.00 | 05/22/26 | (15234)<br>|
| (13) | U.S. Treasury Long Bond Futures | (1490531)<br>| 112.00 | 05/22/26 | (18891)<br>|
| (6) | U.S. Treasury Long Bond Futures | (685125)<br>| 110.00 | 08/21/26 | (10031)<br>|
| (1) | Ultra U.S. Treasury Long Bond Futures | (117438)<br>| 112.00 | 02/20/26 | (125)<br>|
| (1) | Ultra U.S. Treasury Long Bond Futures | (117438)<br>| 114.00 | 02/20/26 | (297)<br>|
|  | **Total Put Options Written** | **Total Put Options Written** | **Total Put Options Written** | **Total Put Options Written** | (67711)<br>|
|  | (Premiums received $93,721) | (Premiums received $93,721) | (Premiums received $93,721) | (Premiums received $93,721) |  |
|  | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | (92083)<br>|
|  | (Premiums received $144,432) | (Premiums received $144,432) | (Premiums received $144,432) | (Premiums received $144,432) |  |
|  | **Net Other Assets and Liabilities — (0.9)%** | **Net Other Assets and Liabilities — (0.9)%** | **Net Other Assets and Liabilities — (0.9)%** | **Net Other Assets and Liabilities — (0.9)%** | (1566195)<br>|
|  | **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | $176609374 |

---

**Futures Contracts at January 31, 2026** (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 | 54 | Mar-2026 | &nbsp;&nbsp; $11258578 | &nbsp;&nbsp; $5133 |
| U.S. 5-Year Treasury Notes | 213 | Mar-2026 | &nbsp;&nbsp; 23202024 | &nbsp;&nbsp; (66134)<br>|
| U.S. 10-Year Treasury Notes | 123 | Mar-2026 | &nbsp;&nbsp; 13754859 | &nbsp;&nbsp; (109655)<br>|
| Ultra U.S. Treasury Bond Futures | 3 | Mar-2026 | &nbsp;&nbsp; 352312 | &nbsp;&nbsp; (313)<br>|
|  |  |  | &nbsp;&nbsp; $48567773 | &nbsp;&nbsp; $(170969)<br>|

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Short** |  |  |  |  |
| U.S. Treasury Long-Term Bond Futures | 69 | Mar-2026 | &nbsp;&nbsp; $(7943625)<br>| &nbsp;&nbsp; $105604 |
| Ultra 10-Year U.S. Treasury Notes | 5 | Mar-2026 | &nbsp;&nbsp; (570781)<br>| &nbsp;&nbsp; 1625 |
|  |  |  | &nbsp;&nbsp; $(8514406)<br>| &nbsp;&nbsp; $107229 |
|  |  | &nbsp;&nbsp; Total | &nbsp;&nbsp; $40053367 | &nbsp;&nbsp; $(63740)<br>|

---

&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)**

**January 31, 2026 (Unaudited)**

&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 January 31, 2026, securities noted as such amounted to $132,613,455 or 75.1% 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) Step-up
 security. A security where the coupon increases or steps up at a predetermined date.

&nbsp;&nbsp;&nbsp;&nbsp;(e) 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;(f) When-issued
 security. The interest rate shown reflects the rate in effect at January 31, 2026. Interest will begin accruing on the security's
 first settlement date (see Note 2B - Securities Transactions and Investment Income in the Notes to Financial Statements).

&nbsp;&nbsp;&nbsp;&nbsp;(g) 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 January
 31, 2026, securities noted as such are valued at $2,000,000 or 1.1% of net assets.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(j) 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).

&nbsp;&nbsp;&nbsp;&nbsp;(k) Rate
 shown reflects yield as of January 31, 2026.

&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 |
| PO | – Principal-Only Security |
| REMIC | – Real Estate Mortgage Investment Conduit |
| SOFR | – Secured Overnight Financing Rate |
| STACR | – Structured Agency Credit Risk |
| TBA | – To-Be-Announced Security |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of January 31, 2026 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>**1/31/2026**<br>| &nbsp;&nbsp;&nbsp; **Level 1** <br>**Quoted** <br>**Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Mortgage-Backed Securities | &nbsp;&nbsp; $86979075 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $86979075 | &nbsp;&nbsp;&nbsp;&nbsp; $— |
| Asset-Backed Securities | &nbsp;&nbsp; 47250559 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 47250559 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Government Agency Mortgage-Backed Securities | &nbsp;&nbsp; 32428130 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32428130 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Treasury Bills | &nbsp;&nbsp; 11986618 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11986618 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Money Market Funds | &nbsp;&nbsp; 4166796 | &nbsp;&nbsp;&nbsp;&nbsp; 4166796 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments | &nbsp;&nbsp; 182811178 | &nbsp;&nbsp;&nbsp;&nbsp; 4166796 | &nbsp;&nbsp;&nbsp;&nbsp; 178644382 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Purchased Options | &nbsp;&nbsp; 8331 | &nbsp;&nbsp;&nbsp;&nbsp; 8331 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Futures Contracts\* | &nbsp;&nbsp; 112362 | &nbsp;&nbsp;&nbsp;&nbsp; 112362 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | &nbsp;&nbsp; $182931871 | &nbsp;&nbsp;&nbsp;&nbsp; $4287489 | &nbsp;&nbsp;&nbsp;&nbsp; $178644382 | &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

&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)**

**January 31, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total** <br>**Value at** <br>**1/31/2026**<br>| &nbsp;&nbsp;&nbsp; **Level 1** <br>**Quoted** <br>**Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| U.S. Government Agency Mortgage-Backed Securities <br> Sold Short<br>| &nbsp;&nbsp; $(4551857)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(4551857)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— |
| Written Options | &nbsp;&nbsp; (92083)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (92083)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Futures Contracts\* | &nbsp;&nbsp; (176102)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (176102)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | &nbsp;&nbsp; $(4820042)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(268185)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(4551857)<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**

**January 31, 2026 (Unaudited)**

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

---

| | | | |
|:---|:---|:---|:---|
|  | **First Trust Core** <br> **Investment** <br> **Grade ETF** <br>**(FTCB)** <br>| **First Trust AAA** <br> **CMBS ETF** <br>**(CAAA)** <br>| **First Trust** <br> **Structured** <br> **Credit Income** <br> **Opportunities** <br> **ETF** <br>**(SCIO)** <br>|
| **ASSETS:** |  |  |  |
| Investments, at value - Unaffiliated | $2090077240 | &nbsp;&nbsp; $32355805 | &nbsp;&nbsp; $182811178 |
| Investments, at value - Affiliated | 409400 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total investments, at value | 2090486640 | &nbsp;&nbsp; 32355805 | &nbsp;&nbsp; 182811178 |
| Options contracts purchased, at value |  | &nbsp;&nbsp; — | &nbsp;&nbsp; 8331 |
| Cash | 2414384 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Cash segregated as collateral |  | &nbsp;&nbsp; 113713 | &nbsp;&nbsp; 629558 |
| Receivables: |  |  |  |
| Investment securities sold | 205522728 | &nbsp;&nbsp; — | &nbsp;&nbsp; 20227686 |
| Interest | 12926322 | &nbsp;&nbsp; 197592 | &nbsp;&nbsp; 681850 |
| Capital shares sold | 4233298 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Variation margin | 178492 | &nbsp;&nbsp; 742 | &nbsp;&nbsp; 37866 |
| Dividends | 41811 | &nbsp;&nbsp; 2218 | &nbsp;&nbsp; 11910 |
| Total Assets | 2315803675 | &nbsp;&nbsp; 32670070 | &nbsp;&nbsp; 204408379 |
| **LIABILITIES:** |  |  |  |
| Investments sold short, at value | 55138061 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4551857 |
| Options contracts written, at value | 2193935 | &nbsp;&nbsp; — | &nbsp;&nbsp; 92083 |
| Due to broker | 6956 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Payables: |  |  |  |
| Investment securities purchased | 221516112 | &nbsp;&nbsp; 928844 | &nbsp;&nbsp; 23010576 |
| Investment advisory fees | 889915 | &nbsp;&nbsp; 7057 | &nbsp;&nbsp; 83184 |
| Capital shares redeemed |  | &nbsp;&nbsp; — | &nbsp;&nbsp; 37177 |
| Other liabilities |  | &nbsp;&nbsp; — | &nbsp;&nbsp; 24128 |
| Total Liabilities | 279744979 | &nbsp;&nbsp; 935901 | &nbsp;&nbsp; 27799005 |
| **NET ASSETS** | $2036058696 | &nbsp;&nbsp; $31734169 | &nbsp;&nbsp; $176609374 |
| **NET ASSETS consist of:** |  |  |  |
| Paid-in capital | $2015664091 | &nbsp;&nbsp; $31476683 | &nbsp;&nbsp; $176017148 |
| Par value | 962500 | &nbsp;&nbsp; 15500 | &nbsp;&nbsp; 85000 |
| Accumulated distributable earnings (loss) | 19432105 | &nbsp;&nbsp; 241986 | &nbsp;&nbsp; 507226 |
| **NET ASSETS** | $2036058696 | &nbsp;&nbsp; $31734169 | &nbsp;&nbsp; $176609374 |
| **NET ASSET VALUE,** per share | $21.15 | &nbsp;&nbsp; $20.47 | &nbsp;&nbsp; $20.78 |
| Number of shares outstanding (unlimited number of shares authorized, <br> par value $0.01 per share)<br>| 96250002 | &nbsp;&nbsp; 1550002 | &nbsp;&nbsp; 8500002 |
| Investments, at cost - Unaffiliated | $2070416808 | &nbsp;&nbsp; $32010258 | &nbsp;&nbsp; $182044600 |
| Investments, at cost - Affiliated | $407187 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| Total investments, at cost | $2070823995 | &nbsp;&nbsp; $32010258 | &nbsp;&nbsp; $182044600 |
| Premiums paid on options contracts purchased | $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $26586 |
| Investments sold short, proceeds | $55129359 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4553818 |
| Premiums received on options contracts written | $3709443 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $144432 |

---

See Notes to Financial Statements

------

**First Trust Exchange-Traded Fund IV**

**Statements of Operations**

**For the Six Months Ended January 31, 2026 (Unaudited)**

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

---

| | | | |
|:---|:---|:---|:---|
|  | **First Trust Core** <br> **Investment** <br> **Grade ETF** <br>**(FTCB)** <br>| **First Trust AAA** <br> **CMBS ETF** <br>**(CAAA)** <br>| **First Trust** <br> **Structured** <br> **Credit Income** <br> **Opportunities** <br> **ETF** <br>**(SCIO)** <br>|
| **INVESTMENT INCOME:** |  |  |  |
| Interest | $38111213 | &nbsp;&nbsp; $522567 | &nbsp;&nbsp; $2375582 |
| Dividends - Unaffiliated | 493888 | &nbsp;&nbsp; 18815 | &nbsp;&nbsp; 92876 |
| Dividends - Affiliated | 11560 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total investment income | 38616661 | &nbsp;&nbsp; 541382 | &nbsp;&nbsp; 2468458 |
| **EXPENSES:** |  |  |  |
| Investment advisory fees | 4375567<br>| &nbsp;&nbsp; 56895<br>| &nbsp;&nbsp; 344135<br>|
| Other expenses | 81478 | &nbsp;&nbsp; 1220 | &nbsp;&nbsp; 769 |
| Total expenses | 4457045 | &nbsp;&nbsp; 58115 | &nbsp;&nbsp; 344904 |
| Less fees waived by the investment advisor |  | &nbsp;&nbsp; (3894)<br>| &nbsp;&nbsp; (19289)<br>|
| Net expenses | 4457045 | &nbsp;&nbsp; 54221 | &nbsp;&nbsp; 325615 |
| **NET INVESTMENT INCOME (LOSS)** | 34159616 | &nbsp;&nbsp; 487161 | &nbsp;&nbsp; 2142843 |
| **NET REALIZED AND UNREALIZED GAIN (LOSS):** |  |  |  |
| Net realized gain (loss) on: |  |  |  |
| Investments - Unaffiliated | 6298540 | &nbsp;&nbsp; 64394 | &nbsp;&nbsp; (66842)<br>|
| Investments sold short | (308231)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (26165)<br>|
| Purchased options contracts | (114354)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (16213)<br>|
| Written options contracts | 3238248 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6832 |
| Futures contracts | 1737697 | &nbsp;&nbsp; 29592 | &nbsp;&nbsp; 20820 |
| Net realized gain (loss) | 10851900 | &nbsp;&nbsp; 93986 | &nbsp;&nbsp; (81568)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |  |
| Investments - Unaffiliated | 12086664 | &nbsp;&nbsp; 215816 | &nbsp;&nbsp; 595625 |
| Investments - Affiliated | 2700 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Investments sold short | (20330)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 1961 |
| Purchased options contracts | 384 | &nbsp;&nbsp; — | &nbsp;&nbsp; (16779)<br>|
| Written options contracts | 595247 | &nbsp;&nbsp; — | &nbsp;&nbsp; 52349 |
| Futures contracts | (132652)<br>| &nbsp;&nbsp; (26118)<br>| &nbsp;&nbsp; (35157)<br>|
| Net change in unrealized appreciation (depreciation) | 12532013 | &nbsp;&nbsp; 189698 | &nbsp;&nbsp; 597999 |
| **NET REALIZED AND UNREALIZED GAIN (LOSS)** | 23383913 | &nbsp;&nbsp; 283684 | &nbsp;&nbsp; 516431 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING** <br> **FROM OPERATIONS**<br>| $57543529 | &nbsp;&nbsp; $770845 | &nbsp;&nbsp; $2659274 |

---

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 AAA CMBS ETF** <br> **(CAAA)** | **First Trust AAA CMBS ETF** <br> **(CAAA)** |
|  | **Six Months** <br>**Ended** <br>**1/31/2026** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**7/31/2025** <br>| **Six Months** <br>**Ended** <br>**1/31/2026** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**7/31/2025** <br>|
| **OPERATIONS:** |  |  |  |  |
| Net investment income (loss) | $34159616 | &nbsp;&nbsp; $23173334 | &nbsp;&nbsp; $487161 | &nbsp;&nbsp; $760361 |
| Net realized gain (loss) | 10851900 | &nbsp;&nbsp; 21821 | &nbsp;&nbsp; 93986 | &nbsp;&nbsp; 142294 |
| Net change in unrealized appreciation (depreciation) | 12532013 | &nbsp;&nbsp; 7928282 | &nbsp;&nbsp; 189698 | &nbsp;&nbsp; (89064)<br>|
| Net increase (decrease) in net assets resulting from <br> operations<br>| 57543529 | &nbsp;&nbsp; 31123437 | &nbsp;&nbsp; 770845 | &nbsp;&nbsp; 813591 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |
| Investment operations | (45979706)<br>| &nbsp;&nbsp; (24184002)<br>| &nbsp;&nbsp; (718901)<br>| &nbsp;&nbsp; (874253)<br>|
| **SHAREHOLDER TRANSACTIONS:** |  |  |  |  |
| Proceeds from shares sold | 751328254<br>| &nbsp;&nbsp; 1241959124<br>| &nbsp;&nbsp; 13395966<br>| &nbsp;&nbsp; 8159133<br>|
| Cost of shares redeemed | —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; —<br>| &nbsp;&nbsp; (5073018) <br>|
| Net increase (decrease) in net assets resulting from <br> shareholder transactions<br>| 751328254 | &nbsp;&nbsp; 1241959124 | &nbsp;&nbsp; 13395966 | &nbsp;&nbsp; 3086115 |
| Total increase (decrease) in net assets | 762892077 | &nbsp;&nbsp; 1248898559 | &nbsp;&nbsp; 13447910 | &nbsp;&nbsp; 3025453 |
| **NET ASSETS:** |  |  |  |  |
| Beginning of period | 1273166619 | &nbsp;&nbsp; 24268060 | &nbsp;&nbsp; 18286259 | &nbsp;&nbsp; 15260806 |
| End of period | $2036058696 | &nbsp;&nbsp; $1273166619 | &nbsp;&nbsp; $31734169 | &nbsp;&nbsp; $18286259 |
| **CHANGES IN SHARES OUTSTANDING:** |  |  |  |  |
| Shares outstanding, beginning of period | 60950002 | &nbsp;&nbsp; 1150002 | &nbsp;&nbsp; 900002 | &nbsp;&nbsp; 750002 |
| Shares sold | 35300000 | &nbsp;&nbsp; 59800000 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 400000 |
| Shares redeemed |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (250000)<br>|
| Shares outstanding, end of period | 96250002 | &nbsp;&nbsp; 60950002 | &nbsp;&nbsp; 1550002 | &nbsp;&nbsp; 900002 |

---

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)** |
| **Six Months** <br>**Ended** <br>**1/31/2026** <br> **(Unaudited)**<br>| **Year** <br>**Ended** <br>**7/31/2025** <br>|
| $2142843 | &nbsp;&nbsp; $1046998 |
| (81568)<br>| &nbsp;&nbsp; 176033 |
| 597999 | &nbsp;&nbsp; (81498)<br>|
| 2659274 | &nbsp;&nbsp; 1141533 |
| (2452751)<br>| &nbsp;&nbsp; (1128103)<br>|
| 150718805<br>| &nbsp;&nbsp; 16469221<br>|
| —<br>| &nbsp;&nbsp; (6108418) <br>|
| 150718805 | &nbsp;&nbsp; 10360803 |
| 150925328 | &nbsp;&nbsp; 10374233 |
| 25684046 | &nbsp;&nbsp; 15309813 |
| $176609374 | &nbsp;&nbsp; $25684046 |
| 1250002 | &nbsp;&nbsp; 750002 |
| 7250000 | &nbsp;&nbsp; 800000 |
|  | &nbsp;&nbsp; (300000)<br>|
| 8500002 | &nbsp;&nbsp; 1250002 |

---

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;

---

| | | | |
|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**1/31/2026** <br>**(Unaudited)** | **Year** <br>**Ended** <br>**7/31/2025** | **Period** <br>**Ended** <br>**7/31/2024 (a)** |
|  | **Six Months** <br>**Ended** <br>**1/31/2026** <br>**(Unaudited)** | **Year** <br>**Ended** <br>**7/31/2025** | **Period** <br>**Ended** <br>**7/31/2024 (a)** |
| Net asset value, beginning of period | $20.89 | &nbsp;&nbsp;&nbsp;&nbsp; $21.10 | &nbsp;&nbsp;&nbsp;&nbsp; $20.00 |
| **Income from investment operations:** |  |  |  |
| Net investment income (loss) (b) | 0.46<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.93<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.67<br>|
| Net realized and unrealized gain (loss) | 0.40<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.08) (c)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.07<br> (d)<br>|
| Total from investment operations | 0.86<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.85<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.74<br>|
| **Distributions paid to shareholders from:** |  |  |  |
| Net investment income | (0.52) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.01) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.64) <br>|
| Net realized gain | (0.08) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.05) <br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Total distributions | (0.60) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.06) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.64) <br>|
| Net asset value, end of period | $21.15<br>| &nbsp;&nbsp;&nbsp;&nbsp; $20.89<br>| &nbsp;&nbsp;&nbsp;&nbsp; $21.10<br>|
| **Total return** (e) | 4.14<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 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) | $2036059<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1273167<br>| &nbsp;&nbsp;&nbsp;&nbsp; $24268<br>|
| Ratio of total expenses to average net assets | 0.56<br> % (f) (g) (h)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55<br> % (g)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.56<br> % (f) (i)<br>|
| Ratio of net investment income (loss) to average net assets | 4.29<br> % (f) (g)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.52<br> % (g)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.46<br> % (f)<br>|
| Portfolio turnover rate (j) | 64<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 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) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(g) 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;(h) Includes
 extraordinary expenses. If these extraordinary expenses were not included, the expense ratio would have been 0.55%.

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

&nbsp;&nbsp;&nbsp;&nbsp;(j) 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 AAA CMBS ETF (CAAA)**

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

---

| | | | |
|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**1/31/2026** <br>**(Unaudited)** | **Year** <br>**Ended** <br>**7/31/2025** | **Period** <br>**Ended** <br>**7/31/2024 (a)** |
|  | **Six Months** <br>**Ended** <br>**1/31/2026** <br>**(Unaudited)** | **Year** <br>**Ended** <br>**7/31/2025** | **Period** <br>**Ended** <br>**7/31/2024 (a)** |
| Net asset value, beginning of period | $20.32 | &nbsp;&nbsp;&nbsp;&nbsp; $20.35 | &nbsp;&nbsp;&nbsp;&nbsp; $20.00 |
| **Income from investment operations:** |  |  |  |
| Net investment income (loss) (b) | 0.40<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.06<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br>|
| Net realized and unrealized gain (loss) | 0.33<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br>|
| Total from investment operations | 0.73<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.21<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.68<br>|
| **Distributions paid to shareholders from:** |  |  |  |
| Net investment income | (0.53) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.24) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.33) <br>|
| Net realized gain | (0.05) <br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Total distributions | (0.58) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.24) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.33) <br>|
| Net asset value, end of period | $20.47<br>| &nbsp;&nbsp;&nbsp;&nbsp; $20.32<br>| &nbsp;&nbsp;&nbsp;&nbsp; $20.35<br>|
| **Total return** (c) | 3.61<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 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) | $31734<br>| &nbsp;&nbsp;&nbsp;&nbsp; $18286<br>| &nbsp;&nbsp;&nbsp;&nbsp; $15261<br>|
| Ratio of total expenses to average net assets | 0.46<br> % (d) (e) (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55<br> % (e) (g)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55<br> % (d)<br>|
| Ratio of net expenses to average net assets | 0.43<br> % (d) (e) (f)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55<br> % (e) (g)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.55<br> % (d)<br>|
| Ratio of net investment income (loss) to average net assets | 3.85<br> % (d) (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.21<br> % (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.28<br> % (d)<br>|
| Portfolio turnover rate (h) | 10<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 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. The total returns would have been lower if certain fees
 had not been waived by the investment advisor.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Ratios
 of 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;(f) Includes
 extraordinary expenses. If these extraordinary expenses were not included, the total and net expense ratios would have been 0.45% and 0.42%,
 respectively.

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

&nbsp;&nbsp;&nbsp;&nbsp;(h) 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;

---

| | | | |
|:---|:---|:---|:---|
|  | **Six Months** <br>**Ended** <br>**1/31/2026** <br>**(Unaudited)** | **Year** <br>**Ended** <br>**7/31/2025** | **Period** <br>**Ended** <br>**7/31/2024 (a)** |
|  | **Six Months** <br>**Ended** <br>**1/31/2026** <br>**(Unaudited)** | **Year** <br>**Ended** <br>**7/31/2025** | **Period** <br>**Ended** <br>**7/31/2024 (a)** |
| Net asset value, beginning of period | $20.55 | &nbsp;&nbsp;&nbsp;&nbsp; $20.41 | &nbsp;&nbsp;&nbsp;&nbsp; $20.00 |
| **Income from investment operations:** |  |  |  |
| Net investment income (loss) (b) | 0.54<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.54<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.45<br>|
| Net realized and unrealized gain (loss) | 0.32<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br>|
| Total from investment operations | 0.86<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.74<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.81<br>|
| **Distributions paid to shareholders from:** |  |  |  |
| Net investment income | (0.63) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.58) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.40) <br>|
| Net realized gain | —<br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.02) <br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Total distributions | (0.63) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.60) <br>| &nbsp;&nbsp;&nbsp;&nbsp; (0.40) <br>|
| Net asset value, end of period | $20.78<br>| &nbsp;&nbsp;&nbsp;&nbsp; $20.55<br>| &nbsp;&nbsp;&nbsp;&nbsp; $20.41<br>|
| **Total return** (c) | 4.20<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 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) | $176609<br>| &nbsp;&nbsp;&nbsp;&nbsp; $25684<br>| &nbsp;&nbsp;&nbsp;&nbsp; $15310<br>|
| Ratio of total expenses to average net assets | 0.85<br> % (d) (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.94<br> % (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.95<br> % (d)<br>|
| Ratio of net expenses to average net assets | 0.80<br> % (d) (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.94<br> % (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.95<br> % (d)<br>|
| Ratio of net investment income (loss) to average net assets | 5.29<br> % (d) (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.55<br> % (e)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.27<br> % (d)<br>|
| Portfolio turnover rate (f) | 22<br> % <br>| &nbsp;&nbsp;&nbsp;&nbsp; 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. The total returns would have been lower if certain fees
 had not been waived by the investment advisor.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Ratios
 of 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;(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**

**January 31, 2026 (Unaudited)**

&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 AAA CMBS 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 with a 'AAA' rating (or equivalent) at the time of purchase, as determined by at least one NRSRO or, if unrated, as determined by the Fund's investment advisor to be of comparable credit quality at the time of purchase.

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 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

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**January 31, 2026 (Unaudited)**

Pricing Committee of the Funds' investment advisor, First Trust Advisors L.P. ("First Trust" or the "Advisor"), in accordance with 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

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**January 31, 2026 (Unaudited)**

impossible to obtain a reliable market quotation; and a security whose price, as provided by the third-party pricing service, does not 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 January 31, 2026, 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**

**January 31, 2026 (Unaudited)**

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 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 January 31, 2026, FTCB and SCIO held $7,503,144 and $3,002,500, respectively, of when-issued or delayed-delivery securities. At January 31, 2026, FTCB held $16,190,969 of forward purchase commitments and $40,425,970 of forward purchase commitments sold short. At January 31, 2026, SCIO held $1,673,544 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**

**January 31, 2026 (Unaudited)**

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**

**January 31, 2026 (Unaudited)**

&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 January 31, 2026, and for the six months then ended are as follows:

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Security Name | Shares at <br>1/31/2026<br>| Value at <br>7/31/2025<br>| Purchases | Sales | Change in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Realized <br>Gain <br>(Loss)<br>| Value at <br>1/31/2026<br>| Dividend <br>Income<br>|
| First Trust AAA CMBS ETF | 20000 | $406700 | $— | $— | $2700 | $— | $409400 | $11560 |

---

**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**

**January 31, 2026 (Unaudited)**

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 AAA CMBS ETF | 874253 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| First Trust Structured Credit Income Opportunities ETF | 1128103 | &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 AAA CMBS 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 January 31, 2026, 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 capital loss carryforwards available 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.

As of January 31, 2026, 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 | $2011985193 | &nbsp;&nbsp; $28393897 | &nbsp;&nbsp; $(7199395)<br>| &nbsp;&nbsp; $21194502 |
| First Trust AAA CMBS ETF | 32010258 | &nbsp;&nbsp; 475751 | &nbsp;&nbsp; (158388)<br>| &nbsp;&nbsp; 317363 |
| First Trust Structured Credit Income Opportunities ETF | 177372936 | &nbsp;&nbsp; 1437696 | &nbsp;&nbsp; (698803)<br>| &nbsp;&nbsp; 738893 |

---

**M. Expenses**

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

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**January 31, 2026 (Unaudited)**

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

**N. Segment Reporting**

An operating segment is defined in FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures 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:

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

---

| | | | |
|:---|:---|:---|:---|
| 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>|

---

Effective January 1, 2026 for each of CAAA and SCIO, the Advisor has agreed to waive management fees of 0.16% of average daily net assets. During any period in which such waiver is in effect, each such Fund will not be eligible for any breakpoint discounts. During the six months ended January 31, 2026, the Advisor waived fees of $3,894 and $19,289 for CAAA and SCIO, respectively.

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, Risk and Regulatory Oversight 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, prior to January 1, 2026, allocated pro rata among each fund in the First Trust Fund Complex based on net assets, and effective January 1, 2026, allocated equally among each fund in the First Trust Fund Complex. Independent Trustees are reimbursed for travel and out-of-pocket expenses in connection with all meetings. The officers and "Interested" Trustee receive no compensation from the Trust for acting in such capacities.

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**January 31, 2026 (Unaudited)**

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

**4. Purchases and Sales of Securities** 

For the six months ended January 31, 2026, 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 | $905957568 | &nbsp;&nbsp; $563788906 |
| Non-U.S. Government securities | 571752082 | &nbsp;&nbsp; 160002353 |
| **First Trust AAA CMBS ETF** |  |  |
| U.S. Government securities | 2637809 | &nbsp;&nbsp; 680629 |
| Non-U.S. Government securities | 12834119 | &nbsp;&nbsp; 1825895 |
| **First Trust Structured Credit Income Opportunities ETF** |  |  |
| U.S. Government securities | 26191074 | &nbsp;&nbsp; 5307637 |
| Non-U.S. Government securities | 128721179 | &nbsp;&nbsp; 8252504 |

---

For FTCB, the cost of purchases to cover short sales and the proceeds from short sales were $259,875,983 and $293,733,213, respectively.

For SCIO, the cost of purchases to cover short sales and the proceeds from short sales were $2,093,931 and $3,937,801, respectively.

For the six months ended January 31, 2026, the Funds had no in-kind transactions.

**5. Borrowings** 

The Trust, on behalf of SCIO, along with First Trust Exchange-Traded Fund III, First Trust Series Fund and First Trust Variable Insurance Trust, has a credit agreement with BNY (the "Credit Agreement") as administrative agent for a group of lenders. 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. The commitment fee and agency fee are allocated amongst the funds that have access to the credit line pursuant to procedures approved by the Board of Trustees. 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 six months ended January 31, 2026.

**6. Derivative Transactions** 

The following table presents the types of derivatives held by each Fund at January 31, 2026, 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; $— | &nbsp;&nbsp; Options contracts written, <br> at value<br>| &nbsp;&nbsp; $2193935 |
| Futures contracts | Interest Rate Risk | &nbsp;&nbsp; Unrealized appreciation on <br> futures contracts\*<br>| &nbsp;&nbsp; 1802483 | &nbsp;&nbsp; Unrealized depreciation on <br> futures contracts\*<br>| &nbsp;&nbsp; 1777432 |
| **CAAA** |  |  |  |  |  |
| Futures contracts | Interest Rate Risk | &nbsp;&nbsp; Unrealized appreciation on <br> futures contracts\*<br>| &nbsp;&nbsp; 1234 | &nbsp;&nbsp; Unrealized depreciation on <br> futures contracts\*<br>| &nbsp;&nbsp; 29418 |

---

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**January 31, 2026 (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | **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** |
| **SCIO** |  |  |  |  |  |
| Options contracts | Interest Rate Risk | &nbsp;&nbsp; Options contracts <br> purchased, at value<br>| &nbsp;&nbsp; $8331 | &nbsp;&nbsp; Options contracts written, <br> at value<br>| &nbsp;&nbsp; $92083 |
| Futures contracts | Interest Rate Risk | &nbsp;&nbsp; Unrealized appreciation on <br> futures contracts\*<br>| &nbsp;&nbsp; 112362 | &nbsp;&nbsp; Unrealized depreciation on <br> futures contracts\*<br>| &nbsp;&nbsp; 176102 |

---

&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 period ended January 31, 2026, 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 | $(114354)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(16213)<br>|
| Written options contracts | 3238248 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6832 |
| Futures contracts | 1737697 | &nbsp;&nbsp; 29592 | &nbsp;&nbsp; 20820 |
| Net change in unrealized appreciation <br> (depreciation) on:<br>|  |  |  |
| Purchased options contracts | 384 | &nbsp;&nbsp; — | &nbsp;&nbsp; (16779)<br>|
| Written options contracts | 595247 | &nbsp;&nbsp; — | &nbsp;&nbsp; 52349 |
| Futures contracts | (132652)<br>| &nbsp;&nbsp; (26118)<br>| &nbsp;&nbsp; (35157)<br>|

---

**FTCB**

The average notional value of futures contracts outstanding during the six months ended January 31, 2026, which is indicative of the volume of this derivative type, was $546,216,051.

During the six months ended January 31, 2026, the premiums for purchased options contracts opened were $86,360 and the premiums for purchased options contracts closed, exercised and expired were $114,353.

During the six months ended January 31, 2026, the premiums for written options contracts opened were $4,558,381 and the premiums for written options contracts closed, exercised and expired were $3,565,376.

**CAAA**

The average notional value of futures contracts outstanding during the six months ended January 31, 2026, which is indicative of the volume of this derivative type, was $8,108,922.

**SCIO**

The average notional value of futures contracts outstanding during the six months ended January 31, 2026, which is indicative of the volume of this derivative type, was $36,749,159.

During the six months ended January 31, 2026, the premiums for purchased options contracts opened were $42,579 and the premiums for purchased options contracts closed, exercised and expired were $23,875.

During the six months ended January 31, 2026, the premiums for written options contracts opened were $161,402 and the premiums for written options contracts closed, exercised and expired were $16,970.

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.

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**January 31, 2026 (Unaudited)**

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

**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 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 were the following subsequent events:

Effective February 1, 2026, the Board of Trustees (the "Board") has approved a permanent contractual reduction of the annual unitary management fee for First Trust AAA CMBS ETF and First Trust Structured Credit Income Opportunities ETF to 0.29% and 0.69% of average daily net assets, respectively. In connection with the adoption of the reduced annual unitary management fees, the Board has

------

**Notes to Financial Statements (Continued)**

**First Trust Exchange-Traded Fund IV**

**January 31, 2026 (Unaudited)**

also approved, effective February 1, 2026, the termination of the temporary fee waivers for such Funds that were put in place on January 1, 2026. Additionally, under each such Fund's new fee structure, the Funds will not be eligible for any breakpoint discounts described in the Funds' prospectuses or statements of additional information.

------

**Other Information**

**First Trust Exchange-Traded Fund IV**

**January 31, 2026 (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 six months ended January 31, 2026.

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

At a special meeting of shareholders of First Trust Exchange-Traded Fund IV (the "Trust") that was held on August 12, 2025 (the "Special Meeting"), shareholders of record as of June 9, 2025 (the "Record Date") approved a proposal (the "Proposal") to elect or re-elect, as applicable, each of the eight nominees listed below to the Board of Trustees of the Trust (the "Board"). Shareholders of each series of the Trust that had publicly offered shares as of the Record Date (each, a "fund") voted together with shareholders of the other funds on the Proposal, and the results are set forth below. There were no broker non-votes.

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

---

| | |
|:---|:---|
| James A. Bowen\* <br>Votes For <br>Votes Withheld<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 628680173 <br>2971002<br>|
| Thomas J. Driscoll\*\* <br>Votes For <br>Votes Withheld<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 628326094 <br>3325081<br>|
| Richard E. Erickson\* <br>Votes For <br>Votes Withheld<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 627601340 <br>4049835<br>|
| Thomas R. Kadlec\* <br>Votes For <br>Votes Withheld<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 628267057 <br>3384118<br>|
| Denise M. Keefe\*\*\* <br>Votes For <br>Votes Withheld<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 628669113 <br>2982062<br>|
| Robert F. Keith\* <br>Votes For <br>Votes Withheld<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 627601979 <br>4049196<br>|
| Niel B. Nielson\* <br>Votes For <br>Votes Withheld<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 628257742 <br>3393433<br>|
| Bronwyn Wright\*\*\* <br>Votes For <br>Votes Withheld<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 379700285 <br>251950890<br>|

---

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

\* This nominee was re-elected to the Board at the Special Meeting.

\*\* This nominee was elected to the Board as a new Trustee at the Special Meeting.

\*\*\* This nominee was elected to the Board at the Special Meeting and had previously been appointed to the Board.

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

Independent Trustees 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)**

Not applicable for the most recent fiscal half year.

------

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

**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) Not applicable to semi-annual reports on Form N-CSR.

(a)(2) [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)(3) Not applicable to the Registrant.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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> April 10, 2026</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> April 10, 2026</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> April 10, 2026</u>

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

------

## 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: | April 10, 2026 | &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: | April 10, 2026 | &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: | April 10, 2026 | &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: | April 10, 2026 | &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) |

---