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美国

证券交易委员会

华盛顿特区 20549

表格 N-CSR

经认证的注册管理投资公司股东报告

投资公司法案文件编号

811-22559

First Trust 交易所交易基金 IV

(注册人根据章程指定的名称)

120 East Liberty Drive, Suite 400

Wheaton, IL 60187

(主要执行办公室地址) (邮编)

W. Scott Jardine, Esq.

First Trust Portfolios L.P.

120 East Liberty Drive, Suite 400

Wheaton, IL 60187

(服务代理人姓名和地址)

注册人的电话号码，包括区号：

(630) 765-8000

财政年度结束日期：

7月31日

报告期间日期：

2026年7月31日

表格 N-CSR 用于管理投资公司向委员会提交报告，不得晚于向股东发送任何根据投资公司法案 1940 年第 30e-1 条（17 CFR 270.30e-1）要求向股东发送的报告后 10 天内提交。委员会可以将其在表格 N-CSR 中提供的信息用于其监管、披露审查、检查和政策制定职能。

注册人必须披露表格 N-CSR 规定的信息，委员会将公开此信息。除非表格显示当前有效的管理与预算办公室（“OMB”）控制编号，否则注册人无需回应表格 N-CSR 中包含的信息收集。请将有关信息收集负担估计准确性的意见以及减少负担的任何建议发送至证券交易委员会秘书处，地址：华盛顿特区 100 F 街，NE，20549。OMB 已根据 44 U.S.C. § 3507 的清关要求审查了此信息收集。

本表格 N-CSR 中提供的信息仅与下文第 1 项中包含报告的基金（每个均为注册人的系列）有关。

第 1 项。致股东的报告。

（a）以下是根据法案第 30e-1 条向股东发送的年度报告副本。

$\"TSR$

First Trust 核心投资级 ETF

FTCB | 纽约证券交易所阿拉卡公司

年度股东报告 | 2026 年 7 月 31 日

本年度股东报告包含有关 First Trust 核心投资级 ETF（“基金”）在 2025 年 8 月 1 日至 2026 年 7 月 31 日（“期间”）的重要信息。您可以在 www.ftportfolios.com/fund-documents/etf/FTCB 找到有关基金的更多信息。您也可以通过致电 1-800-621-1675 或 info@ftportfolios.com 联系我们以获取此信息。

基金在过去一年的费用是多少？

（基于假设的 10,000 美元投资）

\n\n\n\n\n\n\n\n\n\n\n\n\n

基金	10,000 美元投资的费用	作为 10,000 美元投资的百分比支付的费用
First Trust 核心投资级 ETF	$56⁽¹⁾	0.55%⁽¹⁾

\n\n\n\n\n\n\n

⁽¹⁾

\n\n

不包括基金投资的底层投资公司的任何获取基金费用和开支。

\n\n

基金去年的表现如何？是什么影响了基金的表现？

截至 2026 年 7 月 31 日的 12 个月内，基金回报率为 3.26%。基金的表现优于其基准指数，即彭博美国综合债券指数，该指数在同一期间的回报率为 2.71%。

在该期间，由于多种因素，基金表现超出基准 55 个基点（“bps”）：

\n
总体而言，基金产生的收入高于其基准，这对相对表现是有利的。
\n
\n
基金从其在机构抵押贷款支持证券（\"MBS\"）和证券化信用资产的超配头寸中受益，因为在此期间利差收窄。
\n
\n
基金在企业部门内的证券选择中受益，尤其是在工业和金融子部门中。
\n
\n
衍生品通常用于管理利率风险，并提供潜在的收益增强策略。总体而言，衍生品的使用对基金的相对回报略有不利影响，因为基金通常相比基准指数保持更长的久期，当收益率曲线上的收益率上升时，这影响了表现。
\n

基金业绩（2023年11月7日至2026年7月31日）

下面的绩效折线图显示了假设在基金中初始投资10,000美元在十年期（或基金存续期，以较短者为准）的表现。随后在周期结束时的账户价值列在基金或指数名称旁边，视情况而定。下面的绩效表格显示了基金过去一年、五年和十年期间的平均年总回报率（视情况而定，或基金存续期，以较短者为准），作为周期结束时的。折线图和绩效表都将基金的表现与适当的广泛基准指数进行比较，可能还会与反映基金在相同期间投资的市场细分的其他指数进行比较。

10,000美元的投资表现

$\"Fund$

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

平均年总回报率（截至2026年7月31日）	1年	自成立（11/7/23）
第一信托核心投资级ETF	3.26%	5.90%
彭博美国综合债券指数	2.71%	5.06%
美国银行美国广泛市场指数	2.72%	5.09%

访问 www.ftportfolios.com/etf/FTCB 以获取更多近期绩效信息。

基金的历史表现并不能很好地预测基金的未来表现。 图表和表格不反映股东在基金分红或赎回基金股份时需要缴纳的税款。

在证券化产品投资策略中，购买零散头寸的益处可能会影响表现。这些投资的影响在基金管理资产有限时可能尤为显著，并且随着基金规模的增长，可能不会成为可持续的绩效来源。

基金关键统计数据（截至2026年7月31日）

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

基金净资产	$2,551,092,098
投资组合持仓总数	794
总管理费	$10,790,981
投资组合周转率	136%

基金投资了哪些内容？（截至2026年7月31日）

以下表格显示了基金的投资构成，分别代表基金净资产的百分比和总投资的百分比。

基金配置

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

美国政府机构抵押贷款支持证券	33.5%
公司债券和票据	20.5%
抵押贷款支持证券	20.1%
美国政府债券和票据	17.1%
资产支持证券	6.3%
外国公司债券和票据	3.9%
市政债券	1.5%
美国政府机构证券	0.1%
交易所交易基金	0.0%
美国国库短期票据	1.4%
货币市场基金	0.8%
购买期权	0.0%
美国政府机构抵押贷款支持证券做空	(1.0%)
卖出期权	(0.4%)
净其他资产和负债⁽¹⁾	(3.8%)
总计	100.0%

信用质量 ⁽²⁾

$\"Graphical$

显示为0.0%的金额表示小于0.1%。

⁽¹⁾ 包括期货合约的变动保证金。

⁽²⁾ 评级由一个或多个全国认可的统计评级组织（NRSRO）提供，包括标普全球评级、穆迪投资者服务公司、惠誉评级、DBRS公司、Kroll债券评级公司或同等评级的NRSRO。在证券由多个NRSRO评级且评级不等效的情况下，使用最高评级。信用评级是NRSRO对发行人债务义务的信用状况的评估。评级通常在从AAA（最高）到D（最低）的范围内。投资级定义为长期信用评级为BBB-或更高的发行人。“NR”表示无评级。所显示的信用评级是针对基金所投资的底层证券发行人的信用状况，而非基金或其份额。美国机构、美国机构抵押贷款支持和美国国债证券列在“政府与机构”下。信用评级可能会发生变化。

我可以在哪里找到有关该基金的更多信息？

访问www.ftportfolios.com/fund-documents/etf/FTCB以查看有关该基金的更多信息，例如招募说明书、财务信息、基金持仓和投票信息。您也可以通过拨打1-800-621-1675或联系info@ftportfolios.com来索取此信息。

First Trust Core Investment Grade ETF（FTCB）

$\"TSR$

First Trust AAA CMBS ETF

CAAA | NYSE Arca, Inc.

年度股东报告 | 2026年7月31日

本年度股东报告包含有关First Trust AAA CMBS ETF（“基金”）在2025年8月1日至2026年7月31日（“报告期”）期间的重要信息。您可以在www.ftportfolios.com/fund-documents/etf/CAAA找到有关该基金的更多信息。您也可以通过拨打1-800-621-1675或联系info@ftportfolios.com来索取此信息。

本报告描述了在报告期期间或之后发生的基金变化。

该基金上一年的费用是多少？

（基于假设的10,000美元投资）

\n\n\n\n\n\n\n\n\n\n\n\n\n

基金	10,000美元投资的费用	作为10,000美元投资的百分比费用
First Trust AAA CMBS ETF	$36⁽¹⁾	0.35%⁽¹⁾

\n\n\n\n\n\n\n

⁽¹⁾

\n\n

不包括基金所投资的底层投资公司的任何收购基金费用和开支。

\n\n

该基金去年的表现如何？是什么影响了基金的表现？

该基金在截至2026年7月31日的12个月内回报率为3.98%。该基金跑赢了其基准指数——彭博非机构投资级CMBS：美国综合合格AAA指数，该指数在同一期间的回报率为3.90%。

在报告期间，由于多种因素，该基金跑赢了基准指数8个基点（“bps”）：

\n
总体而言，该基金产生的收入高于其基准，这有助于其表现。
\n
\n
该基金在单一资产单一借款人浮动利率证券上配置较多，这对基金的表现有利。
\n
\n
该基金增加了对基准之外的机构商业抵押贷款支持证券（“CMBS”）利息仅付型头寸的敞口，这有助于实现跑赢基准的表现。
\n
\n
虽然主要用于管理收益率曲线和久期风险，但衍生品的使用对基金的相对回报略有不利影响，因为基金通常比基准具有更长的久期，这在收益率曲线整体上升时对表现造成了不利影响。
\n

基金表现（2024年2月27日至2026年7月31日）

下面的绩效折线图显示了在十年期（或基金存续期，以较短者为准）内，对基金的10,000美元初始投资的绩效。在周期结束时的后续账户价值会列在基金或指数名称旁边，视情况而定。下面的绩效表显示了基金在过去一年、五年和十年期间（或基金存续期，以较短者为准）的平均年总回报率，截至周期结束时。。折线图和绩效表都将基金的绩效与适当的广泛基准指数进行比较，并可能在相同期间内与反映基金投资的市场细分的其他指数进行比较。

$10,000的投资绩效

$\"Fund$

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

平均年总回报率（截至2026年7月31日）	1年	自成立（2/27/24）
First Trust AAA CMBS ETF	3.98%	5.58%
Bloomberg Non-Agency Investment Grade CMBS: US Aggregate Eligible Aaa Index	3.90%	5.63%
Bloomberg US Aggregate Bond Index	2.71%	4.09%

访问 www.ftportfolios.com/etf/CAAA 以获取更多近期绩效信息。

基金的历史表现不能很好地预测基金的未来表现。 图表和表格不反映股东在基金分红或赎回基金股份时需要支付的税款。如果投资顾问没有免除某些费用，总回报率会更低。

在证券化产品投资策略中的表现可能会受到购买零散头寸的好处的影响。当基金管理资产有限时，这些投资的影响可能尤其显著，并且随着基金规模的增长，可能不会成为可持续的绩效来源。

基金关键统计数据（截至2026年7月31日）

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

基金净资产	$35,190,370
投资组合持仓总数	118
支付的总咨询费	$100,004
投资组合换手率	18%

基金投资了什么？（截至2026年7月31日）

以下表格显示了基金的投资构成，分别代表基金净资产的百分比和总投资的百分比。

基金配置

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

抵押贷款支持证券	91.7%
美国政府机构抵押贷款支持证券	6.1%
货币市场基金	2.0%
净其他资产和负债⁽¹⁾	0.2%
总计	100.0%

信用质量 ⁽²⁾

$\"Graphical$

⁽¹⁾ 包括期货合约的变动保证金。

⁽²⁾ 评级由一个或多个全国认可的统计评级组织（NRSRO）提供，包括标普全球评级、穆迪投资者服务公司、惠誉评级、DBRS公司、Kroll债券评级公司或同等评级的NRSRO。在证券由多个NRSRO评级且评级不等同的情况下，使用最高评级。信用评级是由NRSRO对发行人相对于债务义务的信用状况的评估。评级通常在从AAA（最高）到D（最低）的范围内。投资级定义为长期信用评级为BBB-或更高的发行人。“NR”表示无评级。所显示的信用评级是针对基金所投资证券发行人的信用状况，而不是基金或其份额。美国机构、美国机构抵押贷款支持和美国国债归类在“政府与机构”下。信用评级可能会发生变化。

基金有哪些重大变化？

这是自2025年8月1日起对基金的一些更改的摘要。如需更完整的信息，您可以在 www.ftportfolios.com/fund-documents/etf/CAAA 查阅基金的招募说明书和任何适用的补充文件，或通过致电1-800-621-1675或 info@ftportfolios.com 申请获取。

自2026年2月1日起，基金的年度统一管理费从基金平均每日净资产的0.45%降低至0.29%。此外，基金不再符合招募说明书或补充信息表中描述的任何折扣条件。

我在哪里可以找到关于基金的更多信息？

访问 www.ftportfolios.com/fund-documents/etf/CAAA 查看有关基金的更多信息，例如招募说明书、财务信息、基金持仓和投票信息。您也可以通过致电1-800-621-1675或 info@ftportfolios.com 联系我们获取此信息。

First Trust AAA CMBS ETF (CAAA)

$\"TSR$

First Trust Structured Credit Income Opportunities ETF

SCIO | NYSE Arca, Inc.

年度股东报告 | 2026年7月31日

本年度股东报告包含有关First Trust Structured Credit Income Opportunities ETF（“基金”）在2025年8月1日至2026年7月31日（“报告期”）期间的重要信息。您可以在 www.ftportfolios.com/fund-documents/etf/SCIO 找到有关基金的更多信息。您也可以通过致电1-800-621-1675或 info@ftportfolios.com 联系我们获取此信息。

本报告描述了在报告期期间或之后发生的基金变更。

过去一年基金的费用是多少？

（基于假设的10,000美元投资）

\n\n\n\n\n\n\n\n\n\n\n\n\n

基金	10,000美元投资的费用	作为10,000美元投资的百分比费用
First Trust Structured Credit Income Opportunities ETF	$73⁽¹⁾	0.71%⁽¹⁾

\n\n\n\n\n\n\n

⁽¹⁾

\n\n

不包括基金投资的底层投资公司的任何获取基金费用和开支。

\n\n

基金去年的表现如何？是什么影响了基金的表现？

基金在截至2026年7月31日的12个月内回报率为5.26%。基金的表现优于其基准指数——ICE BofA US ABS & CMBS指数，该指数在同一期间的回报率为3.95%。

在报告期间，由于多种因素，基金的表现超出基准313个基点（“bps”）：

\n
基金的收入水平明显高于其基准，这有助于提高表现。
\n
\n
基金增加了对基准之外的代理商业抵押贷款支持证券（“CMBS”）利息支付头寸的敞口，这有助于实现超额表现。
\n
\n
基金增加了对非代理住宅抵押贷款支持证券（“RMBS”）的配置，这产生了强劲的收入和利差回报。
\n
\n
总体而言，基金对评级较低的证券化信用领域的配置有助于表现，因为在此期间利差收窄。
\n
\n
衍生品通常用于管理利率风险以及提供潜在的收入增强策略。总体而言，衍生品的使用对基金的相对回报略有不利影响，因为基金通常保持比基准更长的久期，这在收益率曲线整体上升时对表现造成了不利影响。
\n

基金表现（2024年2月27日至2026年7月31日）

下面的绩效折线图显示了在十年期（或基金存续期，以较短者为准）内，对基金的10,000美元初始投资的绩效。在周期结束时，基金或指数的后续账户价值会列在基金或指数名称旁边。下面的绩效表显示了基金在过去一年、五年和十年期（或基金存续期，以较短者为准）的平均年总回报率，截至周期结束。折线图和绩效表都将基金的绩效与适当的广泛基准指数进行比较，并可能与反映基金投资的市场细分的其他指数进行比较。

$10,000的投资绩效

$\"Fund$

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

平均年总回报率（截至2026年7月31日）	1年	自成立（2/27/24）
First Trust Structured Credit Income Opportunities ETF	5.26%	7.52%
ICE BofA US ABS & CMBS 指数	3.95%	5.38%
Bloomberg US Aggregate Bond Index	2.71%	4.09%

访问 www.ftportfolios.com/etf/SCIO 以获取更多近期绩效信息。

基金的过去表现不能很好地预测基金的未来表现。 折线图和表格不反映股东在基金分配或赎回基金股份时需要支付的税款。如果投资顾问没有免除某些费用，总回报率会更低。

在证券化产品投资策略中，绩效可能受到购买零散头寸的好处的影响。当基金管理资产有限时，这些投资的影响可能尤为显著，并且随着基金规模的增长，可能不会成为可持续的绩效来源。

关键基金统计数据（截至2026年7月31日）

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

基金净资产	$500,400,431
投资组合持仓总数	441
总管理费	$1,473,753
投资组合换手率	98%

基金投资了什么？（截至2026年7月31日）

以下表格显示了基金的投资构成，分别代表基金净资产的百分比和总投资的百分比。

基金配置

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

抵押贷款支持证券	53.8%
资产支持证券	32.6%
美国政府机构抵押贷款支持证券	16.3%
美国国库券	0.6%
货币市场基金	0.2%
购买的期权	0.0%
做空的美国政府机构抵押贷款支持证券	(1.2%)
卖出的期权	(0.4%)
净其他资产和负债⁽¹⁾	(1.9%)
总计	100.0%

信用质量 ⁽²⁾

$\"Graphical$

显示为0.0%的金额表示小于0.1%。

⁽¹⁾ 包括期货合约的变动保证金。

⁽²⁾ 评级由一个或多个全国认可的统计评级机构（NRSRO）提供，包括标普全球评级、穆迪投资者服务公司、惠誉评级、DBRS公司、Kroll债券评级公司或同等评级的NRSRO。在证券由多个NRSRO评级且评级不一致的情况下，将采用最高评级。信用评级是NRSRO对发行人债务义务的信用状况的评估。评级通常在从AAA（最高）到D（最低）的范围内。投资级别定义为长期信用评级为BBB-或更高的发行人。“NR”表示无评级。所显示的信用评级是针对基金所投资证券发行人的信用状况，而非基金或其份额。美国政府、美国政府抵押贷款支持和美国国债列在“政府与机构”下。信用评级可能会发生变化。

该基金有哪些重大变化？

这是自2025年8月1日起基金的某些变更摘要。如需更完整的信息，您可以在 www.ftportfolios.com/fund-documents/etf/SCIO 查阅基金的招募说明书和任何适用的补充文件，或通过致电1-800-621-1675或 info@ftportfolios.com 申请获取。

自2026年2月1日起，基金的年度统一管理费从基金平均每日净资产的0.85%降低至0.69%。此外，基金不再符合基金招募说明书或补充信息中描述的任何折扣门槛。

在哪里可以找到关于基金的更多信息？

访问 www.ftportfolios.com/fund-documents/etf/SCIO 查看更多关于基金的信息，例如招募说明书、财务信息、基金持仓和投票信息。您也可以通过致电1-800-621-1675或 info@ftportfolios.com 联系我们获取此信息。

First Trust Structured Credit Income Opportunities ETF (SCIO)

\n \n \n \n

(b)

对注册人不适用。

第2项：道德准则。

\n \n \n \n

(a)

截至本报告所涵盖期间的期末，First Trust Exchange-Traded Fund IV（“注册人”）已制定了一项道德准则，该准则适用于注册人的首席执行官、首席财务官、首席会计官或控制器，或履行类似职能的人员，无论这些人员是注册人还是第三方雇员。

\n \n \n \n

(c)

在本报告所涵盖期间内，未对适用于注册人首席执行官、首席财务官、首席会计官或控制器，或履行类似职能的人员的道德准则条款进行任何修订，无论这些人员是注册人还是第三方雇员，且该条款与道德准则描述中的任何元素相关。

\n \n \n \n

(d)

注册人在此报告所涵盖的期间内，未授予任何豁免，包括对适用于注册人首席执行官、首席财务官、首席会计官或主管的道德准则条款的隐含豁免，无论这些人员是受雇于注册人还是第三方，该条款涉及本项说明中第(b)段所述的一项或多项内容。

\n \n \n \n

(e)

不适用。

\n \n \n \n

(f)

适用于注册人首席执行官、首席财务官、首席会计官或主管的道德准则副本根据第13(a)(1)项作为附件提交。

第3项。审计委员会财务专家。

注册人的信托委员会已确定Thomas J. Driscoll、Thomas R. Kadlec和Robert F. Keith有资格作为审计委员会财务专家在审计委员会任职，并且他们每人都是“独立的”，如Form N-CSR第3项所定义的。

第4项。主要会计师费用和业务。

\n \n \n \n

(a)

审计费用（注册人）-- 主要会计师为审计注册人年度财务报表或通常由会计师在法定和监管文件或业务中提供的服务所收取的总费用，在2025财年结束时为105,875美元，在2026财年结束时为121,000美元。

\n \n \n \n

(b)

审计相关费用（注册人）-- 主要会计师为保证和相关服务收取的总费用，这些服务与注册人财务报表的审计执行合理相关，且未在本项第(a)段中报告，在2025财年结束时为0美元，在2026财年结束时为0美元。

审计相关费用（投资顾问）-- 主要会计师为保证和相关服务收取的总费用，这些服务与注册人财务报表的审计执行合理相关，且未在本项第(a)段中报告，在2025财年结束时为0美元，在2026财年结束时为0美元。

审计相关费用（分销商）-- 主要会计师为保证和相关服务收取的总费用，这些服务与注册人财务报表的审计执行合理相关，且未在本项第(a)段中报告，在2025财年结束时为0美元，在2026财年结束时为0美元。

\n \n \n \n

(c)

税务费用（注册人）-- 主要会计师为税务申报审查和债务工具税务分析及报告提供的专业服务所收取的总费用，在2025财年结束时为74,483美元，在2026财年结束时为117,764美元。

税务费用（投资顾问）-- 主要会计师为注册人顾问提供的税务合规、税务建议和税务规划的专业服务所收取的总费用，在2025财年结束时为0美元，在2026财年结束时为0美元。

税务费用（经销商）-- 主要会计师为注册人经销商提供的税务合规、税务咨询和税务规划的专业服务所收取的总费用，在2025财年为0美元，在2026财年为0美元。

这些费用是用于税务咨询和/或税务申报准备以及为PFIC（外国被动投资公司）识别服务提供的专业服务。

\n \n \n \n

（d）

其他费用（注册人）-- 主要会计师向注册人提供的、除本条（a）至（c）段所述服务以外的产品和服务的总费用，在2025财年为0美元，在2026财年为0美元。

其他费用（投资顾问）-- 主要会计师向注册人的投资顾问提供的、除本条（a）至（c）段所述服务以外的产品和服务的总费用，在2025财年为0美元，在2026财年为0美元。

其他费用（经销商）-- 主要会计师向注册人经销商提供的、除本条（a）至（c）段所述服务以外的产品和服务的总费用，在2025财年为0美元，在2026财年为0美元。

（e）（1）披露根据《S-X条例》第2-01条第（c）（7）段所述的审计委员会事先批准政策和程序。

根据其章程和《审计和非审计服务事先批准政策》，审计委员会（“委员会”）负责事先批准所有审计服务和允许的非审计服务（包括费用和条款）由独立审计师为注册人提供的服务。委员会主席有权代表委员会批准不超过25,000美元的此类事先批准，并将任何此类事先批准报告给全体委员会。

委员会还负责事先批准独立审计师与注册人顾问（不包括主要负责组合管理且由其他投资顾问分包或监督的次级顾问）以及任何控制、被控制或与投资顾问共同控制的、为注册人提供持续服务的实体的非审计服务的委托，如果该委托直接涉及注册人的运营和财务报告，受《S-X条例》第2-01条中描述的非审计服务最小例外情况的限制。如果独立审计师已为注册人的顾问（其他次级顾问主要负责组合管理且由其他投资顾问分包或监督）以及任何控制、被控制或与投资顾问共同控制的、为注册人提供持续服务的实体提供了未经其政策事先批准的非审计服务，委员会将考虑提供此类非审计服务是否与审计师的独立性相容。

(e)(2) 注册人及其投资顾问和分销商在本事项中，根据规章S-X第2-01条第(c)(7)(i)(C)或(c)(7)(ii)款中包含的预先批准例外情况，由审计委员会批准的第(b)至(d)款所述服务的百分比如下：

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

注册人：		顾问和分销商：
(b)\n 0%		(b)\n 0%
(c)\n 0%		(c)\n 0%
(d)\n 0%		(d)\n 0%

\n \n \n \n

(f)

注册人主要会计师审计其财务报表的项目中，由非主要会计师全职永久员工执行的工作所耗费的小时数占总小时数的比例小于百分之五十。

\n \n \n \n

(g)

注册人会计师为注册人提供的非审计费用，以及为注册人投资顾问（不包括任何主要角色为组合管理且由其他投资顾问分包或监督的次级顾问）以及任何由顾问控制、受其控制或与其共同控制的实体，在2025财年为注册人提供的持续服务费用总额为74,483美元，注册人投资顾问为28,080美元，注册人分销商为32,400美元；而在2026财年为注册人为117,764美元，注册人投资顾问为13,020美元，注册人分销商为14,940美元。

\n \n \n \n

(h)

注册人董事会审计委员会已确定，根据规章S-X第2-01条第(c)(7)(ii)款未预先批准的、为注册人投资顾问（不包括任何主要角色为组合管理且由其他投资顾问分包或监督的次级顾问）以及任何由投资顾问控制、受其控制或与其共同控制的、为注册人提供持续服务的实体所提供的非审计服务，与保持主要会计师的独立性是相容的。

(i) 对注册人不适用。

(j) 对注册人不适用。

第5项：上市注册人的审计委员会。

\n \n \n \n

(a)

注册人根据1934年《证券交易法》第3(a)(58)(A)条的规定，设立了由所有独立董事组成的专门常设审计委员会。注册人的审计委员会由以下成员组成：Thomas J. Driscoll、Richard E. Erickson、Thomas R. Kadlec、Denise M. Keefe、Robert F. Keith、Niel B. Nielson 和 Bronwyn Wright。

\n \n \n \n

(b)

对注册人不适用。

第6项：投资。

\n \n \n \n

(a)

截至报告期结束时，未关联发行人的证券投资组合附于本表N-CSR第7(a)项所提交的财务报表和其他信息中。

\n \n \n \n

(b)

对注册人不适用。

第7项：开放式管理投资公司的财务报表和财务亮点。

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

\n \n \n \n \n

Annual\n Financial

Statements\n and

Other\n Information

For\n the Year Ended

July\n 31, 2026

$\"$

First\nTrust Exchange-Traded Fund IV

\n \n \n \n \n \n \n

First\n Trust Core Investment Grade ETF (FTCB)

First\n Trust AAA CMBS ETF (CAAA)

First\n Trust Structured Credit Income Opportunities ETF

(SCIO)

Table\nof Contents

First Trust Exchange-Traded\nFund IV
Annual Financial Statements and Other Information\n
July 31, 2026

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Portfolio\n of Investments
\n First\n Trust Core Investment Grade ETF (FTCB)	\n 1 \n
\n First\n Trust AAA CMBS ETF (CAAA)	\n 30 \n
\n First\n Trust Structured Credit Income Opportunities ETF (SCIO)	\n 36 \n
\n Statements\n of Assets and Liabilities	\n 56 \n
\n Statements\n of Operations	\n 57 \n
\n Statements\n of Changes in Net Assets	\n 58 \n
\n Financial\n Highlights	\n 60 \n
\n Notes\n to Financial Statements	\n 63 \n
\n Report\n of Independent Registered Public Accounting Firm	\n 75 \n
\n Other\n Information	\n 77 \n

Performance and Risk Disclosure

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

Performance data quoted represents\npast performance, which is no guarantee of future results, and current performance may be lower or\nhigher than the figures shown. For the most recent month-end performance figures, please visit www.ftportfolios.com\nor speak with your financial advisor. Investment returns,\nnet asset value and share price will fluctuate and Fund shares, when sold, may be worth more\nor less than their original cost.

First Trust Advisors L.P., the\nFunds’ advisor, may also periodically provide additional information on Fund performance on each Fund’s\nwebpage at www.ftportfolios.com.

How to Read This Report

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

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

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments\n\nJuly 31, 2026

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Principal \n 价值 \n	\n 描述 \n	\n 声明的 \n 票息 \n	\n 声明的 \n 到期日 \n	\n 价值 \n
\n 美国\n 政府机构抵押贷款支持证券 — 33.5%
\n	\n 抵押贷款支持\n 证券 — 18.4%
\n	\n 农场\n 抵押贷款信托	\n \n	\n \n	\n
\n $2,456,752 \n	\n 系列\n 2024-1，A类 (a) (b)	\n 4.65% \n	\n 10/01/53 \n	\n $2,304,180 \n
\n 279,206 \n	\n 系列\n 2024-2，A类 (a) (b)	\n 5.15% \n	\n 08/01/54 \n	\n 264,926 \n
\n	\n 联邦\n 住房贷款抵押公司	\n \n	\n \n	\n
\n 2,746,060 \n	\n 系列\n 2015-4499，CZ类	\n 3.50% \n	\n 08/15/45 \n	\n 2,356,504 \n
\n 8,100,172 \n	\n 系列\n 2016-4639，HZ类	\n 3.25% \n	\n 04/15/53 \n	\n 6,403,036 \n
\n 2,062,931 \n	\n 系列\n 2019-4885，PZ类	\n 3.00% \n	\n 06/15/49 \n	\n 1,422,680 \n
\n 339,460 \n	\n 系列\n 2019-4942，FA类，30天平均SOFR +\n CSA +\n \n 0.50%\n (c)	\n 4.23% \n	\n 01/25/50 \n	\n 334,815 \n
\n 3,474,697 \n	\n 系列\n 2022-5202，NV类	\n 3.00% \n	\n 01/25/37 \n	\n 3,133,303 \n
\n 4,360,689 \n	\n 系列\n 2022-5224，DZ类	\n 4.00% \n	\n 04/25/52 \n	\n 3,875,281 \n
\n 12,695,000 \n	\n 系列\n 2022-5224，HL类	\n 4.00% \n	\n 04/25/52 \n	\n 11,500,129 \n
\n 8,443,299 \n	\n 系列\n 2022-5259，FA类，30天平均SOFR +\n 0.70% (c)	\n 4.32% \n	\n 09/25/52 \n	\n 8,350,976 \n
\n 6,374,613 \n	\n 系列\n 2022-5266，FA类，30天平均SOFR +\n 0.82% (c)	\n 4.44% \n	\n 09/25/52 \n	\n 6,299,950 \n
\n 8,670,965 \n	\n 系列\n 2023-5325，SA类，(30天平均SOFR) ×-2+\n \n 11.40%\n (d)	\n 4.17% \n	\n 11/25/52 \n	\n 7,452,645 \n
\n 5,859,622 \n	\n 系列\n 2023-5351，EO类，PO	\n (e) \n	\n 10/25/53 \n	\n 4,621,745 \n
\n 4,231,980 \n	\n 系列\n 2024-5435，BS类，(30天平均SOFR) ×-2+\n \n 11.93%\n (d)	\n 4.69% \n	\n 07/25/54 \n	\n 3,640,826 \n
\n 2,403,957 \n	\n 系列\n 2024-5460，FN类，30天平均SOFR +\n 1.10% (c)	\n 4.72% \n	\n 10/25/54 \n	\n 2,415,197 \n
\n 5,986,329 \n	\n 系列\n 2024-5476，FA类，30天平均SOFR +\n 1.10% (c)	\n 4.72% \n	\n 11/25/54 \n	\n 6,013,878 \n
\n 706,481 \n	\n 系列\n 2024-5478，NF类，30天平均SOFR +\n 1.30% (c)	\n 4.92% \n	\n 12/25/54 \n	\n 713,440 \n
\n 3,560,467 \n	\n 系列\n 2024-5487，ZM类	\n 3.50% \n	\n 12/25/54 \n	\n 2,965,850 \n
\n 4,829,995 \n	\n 系列\n 2025-5500，CZ类	\n 4.50% \n	\n 02/25/55 \n	\n 4,158,926 \n
\n 9,003,282 \n	\n 系列\n 2025-5506，DZ类	\n 3.50% \n	\n 08/25/42 \n	\n 7,267,011 \n
\n 1,440,000 \n	\n 系列\n 2026-457，EC类	\n 4.70% \n	\n 06/25/31 \n	\n 1,426,872 \n
\n 24,923,717 \n	\n 系列\n 2026-459，GE类，STRIPS	\n 4.65% \n	\n 07/25/31 \n	\n 24,732,350 \n
\n 12,635,284 \n	\n 系列\n 2026-459，GH类，STRIPS	\n 4.80% \n	\n 07/25/31 \n	\n 12,556,999 \n
\n 12,500,000 \n	\n 系列\n 2026-470，JA类，STRIPS (f)	\n 4.80% \n	\n 08/25/31 \n	\n 12,430,664 \n
\n 10,808,122 \n	\n 系列\n 2026-5642，FN类，30天平均SOFR +\n 0.90% (c)	\n 4.52% \n	\n 03/25/56 \n	\n 10,686,759 \n
\n	\n 联邦\n 住房贷款抵押公司成熟信用风险 \n 转让\n 信托	\n \n	\n \n	\n
\n 1,074,141 \n	\n 系列\n 2017-1，HA类	\n 3.00% \n	\n 01/25/56 \n	\n 1,016,170 \n
\n 1,557,657 \n	\n 系列\n 2017-2，MA类	\n 3.00% \n	\n 08/25/56 \n	\n 1,460,310 \n
\n 2,090,486 \n	\n 系列\n 2018-1，MA类	\n 3.00% \n	\n 05/25/57 \n	\n 1,957,687 \n
\n 1,319,165 \n	\n 系列\n 2018-1，MT类	\n 3.00% \n	\n 05/25/57 \n	\n 1,116,696 \n
\n 2,660,634 \n	\n 系列\n 2018-2，MZ类	\n 3.50% \n	\n 11/25/57 \n	\n 2,051,274 \n
\n 610,954 \n	\n 系列\n 2018-3，HA类	\n 3.00% \n	\n 08/25/57 \n	\n 571,553 \n
\n 3,645,658 \n	\n 系列\n 2018-3，HV类	\n 3.00% \n	\n 08/25/57 \n	\n 3,234,538 \n
\n 403,224 \n	\n 系列\n 2018-3，MA类	\n 3.50% \n	\n 08/25/57 \n	\n 387,669 \n
\n 2,252,466 \n	\n 系列\n 2018-3，MZ类	\n 3.50% \n	\n 08/25/57 \n	\n 1,695,619 \n
\n 9,447,150 \n	\n 系列\n 2018-4，MA类	\n 3.50% \n	\n 03/25/58 \n	\n 9,050,656 \n
\n 15,000,000 \n	\n 系列\n 2018-4，MB类	\n 3.50% \n	\n 03/25/58 \n	\n 12,180,876 \n
\n 1,544,661 \n	\n 系列\n 2019-1，MA类	\n 3.50% \n	\n 07/25/58 \n	\n 1,476,797 \n
\n 2,650,802 \n	\n 系列\n 2019-2，HV类	\n 3.00% \n	\n 08/25/58 \n	\n 2,348,943 \n
\n 3,262,697 \n	\n 系列\n 2019-2，MA类	\n 3.50% \n	\n 08/26/58 \n	\n 3,099,103 \n
\n 7,116,264 \n	\n 系列\n 2019-2，MV类	\n 3.50% \n	\n 08/25/58 \n	\n 6,579,486 \n
\n 8,404,784 \n	\n 系列\n 2019-3，MA类	\n 3.50% \n	\n 10/25/58 \n	\n 8,059,286 \n
\n 2,956,392 \n	\n 系列\n 2019-3，MV类	\n 3.50% \n	\n 10/25/58 \n	\n 2,757,785 \n
\n 3,041,610 \n	\n 系列\n 2019-3，MZ类	\n 3.50% \n	\n 10/25/58 \n	\n 2,280,146 \n

参见\n财务报表附注

第\n1页

第一信托核心\n投资级ETF (FTCB)

投资组合（继续）\n\n2026年7月31日

\n 本金 \n 价值 \n	\n 描述 \n	\n 票面 \n 利率 \n	\n 票面 \n 到期日 \n	\n 价值 \n
\n 美国\n 政府机构抵押贷款支持证券（继续）
\n	\n 抵押贷款担保债券（继续）
\n	\n 联邦\n 住房贷款抵押公司成熟信用风险 \n 转让\n 信托（继续）	\n \n	\n \n	\n
\n $525,203 \n	\n 系列\n 2019-4，A类HA	\n 3.00% \n	\n 02/25/59 \n	\n $482,883 \n
\n 346,879 \n	\n 系列\n 2019-4，A类MA	\n 3.00% \n	\n 02/25/59 \n	\n 321,154 \n
\n 4,613,588 \n	\n 系列\n 2019-4，A类MV	\n 3.00% \n	\n 02/25/59 \n	\n 4,029,021 \n
\n	\n 联邦\n 住房贷款抵押公司成熟贷款 \n 结构化\n 交易信托	\n \n	\n \n	\n
\n 232,804 \n	\n 系列\n 2018-2，A2类	\n 3.50% \n	\n 11/25/28 \n	\n 223,484 \n
\n 392,980 \n	\n 系列\n 2019-2，A1C类	\n 2.75% \n	\n 09/25/29 \n	\n 373,296 \n
\n 152,923 \n	\n 系列\n 2019-3，A1C类	\n 2.75% \n	\n 11/25/29 \n	\n 144,937 \n
\n 539,326 \n	\n 系列\n 2020-2，AC类	\n 2.00% \n	\n 09/25/30 \n	\n 489,540 \n
\n 865,586 \n	\n 系列\n 2024-2，VF类，30天平均SOFR +\n 1.25% (a) (c)	\n 4.87% \n	\n 10/25/34 \n	\n 883,291 \n
\n 7,100,000 \n	\n 系列\n 2025-1，A2类	\n 3.00% \n	\n 05/25/35 \n	\n 6,030,825 \n
\n 16,124,000 \n	\n 系列\n 2025-2，A2类	\n 3.00% \n	\n 10/25/35 \n	\n 13,491,185 \n
\n	\n 联邦\n 住房贷款抵押公司STACR REMIC信托	\n \n	\n \n	\n
\n 4,796,183 \n	\n 系列\n 2024-DNA2，A1类，30天平均SOFR +\n \n 1.25%\n (a) (c)	\n 4.87% \n	\n 05/25/44 \n	\n 4,818,068 \n
\n 573,333 \n	\n 系列\n 2024-HQA2，A1类，30天平均SOFR +\n \n 1.25%\n (a) (c)	\n 4.87% \n	\n 08/25/44 \n	\n 575,526 \n
\n 890,000 \n	\n 系列\n 2025-DNA1，A1类，30天平均SOFR +\n \n 0.95%\n (a) (c)	\n 4.57% \n	\n 01/25/45 \n	\n 890,923 \n
\n 1,093,750 \n	\n 系列\n 2025-HQA1，A1类，30天平均SOFR +\n \n 0.95%\n (a) (c)	\n 4.57% \n	\n 02/25/45 \n	\n 1,094,907 \n
\n	\n 联邦\n 国家抵押贷款协会	\n \n	\n \n	\n
\n 6,529,609 \n	\n 系列\n 2012-118，VZ类	\n 3.00% \n	\n 11/25/42 \n	\n 5,906,394 \n
\n 3,652,143 \n	\n 系列\n 2014-60，EZ类	\n 3.00% \n	\n 10/25/44 \n	\n 3,286,483 \n
\n 2,050,327 \n	\n 系列\n 2015-65，CZ类	\n 3.50% \n	\n 09/25/45 \n	\n 1,770,569 \n
\n 1,664,415 \n	\n 系列\n 2016-44，ZD类	\n 3.00% \n	\n 07/25/46 \n	\n 1,351,257 \n
\n 2,901,801 \n	\n 系列\n 2017-49，ZJ类	\n 4.00% \n	\n 07/25/57 \n	\n 2,501,133 \n
\n 244,464 \n	\n 系列\n 2018-45，FT类，30天平均SOFR +\n CSA +\n \n 0.30%\n (c)	\n 4.03% \n	\n 06/25/48 \n	\n 238,968 \n
\n 118,614 \n	\n 系列\n 2019-33，F类，30天平均SOFR +\n CSA +\n \n 0.45%\n (c)	\n 4.18% \n	\n 07/25/49 \n	\n 117,112 \n
\n 299,190 \n	\n 系列\n 2020-47，FA类，30天平均SOFR +\n CSA +\n \n 0.40%\n (c)	\n 4.13% \n	\n 07/25/50 \n	\n 293,494 \n
\n 2,908,691 \n	\n 系列\n 2022-31，GZ类	\n 2.00% \n	\n 03/25/52 \n	\n 2,087,800 \n
\n 6,660,227 \n	\n 系列\n 2022-57，FB类，30天平均SOFR +\n 0.70% (c)	\n 4.32% \n	\n 09/25/52 \n	\n 6,549,744 \n
\n 7,731,268 \n	\n 系列\n 2022-62，FM类，30天平均SOFR +\n 0.65% (c)	\n 4.27% \n	\n 09/25/52 \n	\n 7,585,807 \n
\n 12,967,340 \n	\n 系列\n 2022-66，CF类，30天平均SOFR +\n 0.80% (c)	\n 4.42% \n	\n 10/25/52 \n	\n 12,805,871 \n
\n 7,259,547 \n	\n 系列\n 2022-69，FA类，30天平均SOFR +\n 0.82% (c)	\n 4.44% \n	\n 10/25/52 \n	\n 7,174,304 \n
\n 5,963,462 \n	\n 系列\n 2023-54，PO类，PO	\n (e) \n	\n 11/25/53 \n	\n 4,910,548 \n
\n 4,118,950 \n	\n 系列\n 2024-20，ZQ类	\n 4.00% \n	\n 10/25/45 \n	\n 3,536,532 \n
\n 894,937 \n	\n 系列\n 2024-39，AV类	\n 3.00% \n	\n 11/25/33 \n	\n 840,342 \n
\n 2,798,666 \n	\n 系列\n 2024-81，FE类，30天平均SOFR +\n 1.15% (c)	\n 4.77% \n	\n 07/25/54 \n	\n 2,815,032 \n
\n 4,466,004 \n	\n 系列\n 2024-84，FD类，30天平均SOFR +\n 1.15% (c)	\n 4.77% \n	\n 11/25/54 \n	\n 4,492,175 \n
\n 15,950,377 \n	\n 系列\n 2024-98，类别 FG，30 天平均 SOFR +\n 1.00% (c)	\n 4.62% \n	\n 11/25/54 \n	\n 16,028,914 \n
\n 1,304,622 \n	\n 系列\n 2025-32，类别 FD，30 天平均 SOFR +\n 1.75% (c)	\n 5.37% \n	\n 05/25/55 \n	\n 1,321,963 \n
\n 10,952,950 \n	\n 系列\n 2025-49，类别 FA，30 天平均 SOFR +\n 0.80% (c)	\n 4.42% \n	\n 06/25/55 \n	\n 10,874,802 \n
\n 8,058,135 \n	\n 系列\n 2025-101，类别 CZ	\n 3.00% \n	\n 07/25/51 \n	\n 4,750,958 \n
\n 9,875,520 \n	\n 系列\n 2026-5，类别 CF，30 天平均 SOFR +\n 1.05% (c)	\n 4.67% \n	\n 02/25/56 \n	\n 9,823,201 \n

查看\n财务报表附注

第\n2 页

First Trust Core\n投资级 ETF (FTCB)\n\n

投资组合（继续）\n\n2026 年 7 月 31 日

\n 本金 \n 价值 \n	\n 描述 \n	\n 规定 \n 票面利率 \n	\n 规定 \n 到期日 \n	\n 价值 \n
\n 美国\n 政府机构抵押贷款支持证券（继续）
\n	\n 抵押贷款支持证券（继续）
\n	\n 美国国民抵押贷款协会	\n \n	\n \n	\n
\n $4,532,071 \n	\n 系列\n 2012-113，类别 BZ	\n 3.00% \n	\n 09/16/42 \n	\n $3,781,257 \n
\n 2,192,879 \n	\n 系列\n 2018-14，类别 NZ	\n 3.00% \n	\n 01/20/48 \n	\n 1,786,121 \n
\n 2,652,896 \n	\n 系列\n 2018-89，类别 VZ	\n 3.50% \n	\n 06/20/48 \n	\n 2,342,554 \n
\n 3,528,031 \n	\n 系列\n 2021-1，类别 ZQ	\n 3.00% \n	\n 11/20/50 \n	\n 2,504,561 \n
\n 4,738,828 \n	\n 系列\n 2021-105，类别 DT	\n 5.50% \n	\n 06/20/51 \n	\n 4,707,763 \n
\n 3,591,011 \n	\n 系列\n 2021-137，类别 MT (g)	\n 4.77% \n	\n 08/20/51 \n	\n 3,393,779 \n
\n 6,327,353 \n	\n 系列\n 2022-9，类别 AC	\n 5.50% \n	\n 01/20/52 \n	\n 6,326,539 \n
\n 6,208,267 \n	\n 系列\n 2022-9，类别 GJ	\n 5.50% \n	\n 01/20/52 \n	\n 6,207,813 \n
\n 4,857,663 \n	\n 系列\n 2022-139，类别 AL	\n 4.00% \n	\n 07/20/51 \n	\n 4,364,045 \n
\n 14,134,165 \n	\n 系列\n 2024-79，类别 VB，(30 天平均 SOFR) ×-1.50+\n \n 10.95%\n (d)	\n 5.52% \n	\n 05/20/54 \n	\n 13,129,732 \n
\n 9,854,658 \n	\n 系列\n 2024-181，类别 FQ，30 天平均 SOFR +\n 1.15% (c)	\n 4.77% \n	\n 11/20/54 \n	\n 9,917,359 \n
\n 3,743,814 \n	\n 系列\n 2025-83，类别 SB，(30 天平均 SOFR) ×-2.50+\n \n 14.50%\n (d)	\n 5.45% \n	\n 05/20/55 \n	\n 3,427,068 \n
\n 3,851,113 \n	\n 系列\n 2025-95，类别 DC，(30 天平均 SOFR) ×-2.50+\n \n 14.63%\n (d)	\n 5.57% \n	\n 05/20/55 \n	\n 3,487,467 \n
\n 7,838,849 \n	\n 系列\n 2025-98，类别 SX，(30 天平均 SOFR) ×-1.80+\n \n 10.44%\n (d)	\n 3.92% \n	\n 06/20/55 \n	\n 6,892,271 \n
\n 4,714,442 \n	\n 系列\n 2025-100，类别 JS，(30 天平均 SOFR) ×-2.75+\n \n 15.95%\n (d)	\n 5.99% \n	\n 06/20/55 \n	\n 4,330,174 \n
\n 7,639,795 \n	\n 系列\n 2025-131，类别 ST，(30 天平均 SOFR) ×-1.80+\n \n 10.89%\n (d)	\n 4.37% \n	\n 08/20/55 \n	\n 6,622,849 \n
\n 14,195,889 \n	\n 系列\n 2025-164，类别 PO，PO	\n (e) \n	\n 08/20/54 \n	\n 11,004,257 \n
\n 2,989,891 \n	\n 系列\n 2025-192，类别 GZ	\n 4.00% \n	\n 11/20/55 \n	\n 2,330,622 \n
\n 7,343,606 \n	\n 系列\n 2026-99，类别 SC，(30 天平均 SOFR) ×-2.11+\n \n 13.03%\n (d)	\n 5.38% \n	\n 06/20/56 \n	\n 6,741,712 \n
\n 13,093,280 \n	\n 系列\n 2026-111，类别 AS，(30 天平均 SOFR) ×-2.50+\n \n 13.89%\n (d)	\n 4.83% \n	\n 06/20/56 \n	\n 11,821,010 \n
\n	\n \n	\n 468,684,932 \n
\n	\n 商业抵押贷款支持证券 — 1.7%
\n	\n 联邦住房贷款抵押公司多类证书	\n \n	\n \n	\n
\n 5,795,000 \n	\n 系列\n 2020-RR07，类别 BX，IO (g)	\n 2.61% \n	\n 10/27/28 \n	\n 235,366 \n
\n 5,778,199 \n	\n 系列\n 2020-RR14，类别 X，IO (b)	\n 2.13% \n	\n 03/27/34 \n	\n 683,178 \n
\n	\n 联邦住房贷款抵押公司多户 PC REMIC \n 信托 \n	\n \n	\n \n	\n
\n 23,500,000 \n	\n 系列\n 2019-RR01，类别 X，IO (g)	\n 1.53% \n	\n 06/25/28 \n	\n 502,623 \n
\n	\n 联邦住房贷款抵押公司多户结构化 \n 通过证书	\n \n	\n \n	\n
\n 4,950,000 \n	\n 系列\n 2019-K094，XAM类，IO（b）	\n 1.14% \n	\n 06/25/29 \n	\n 150,813 \n
\n 5,199,580 \n	\n 系列\n 2019-K097，X1类，IO（b）	\n 1.08% \n	\n 07/25/29 \n	\n 142,872 \n
\n 23,397,662 \n	\n 系列\n 2019-K101，X1类，IO（g）	\n 0.83% \n	\n 10/25/29 \n	\n 530,769 \n
\n 297,246 \n	\n 系列\n 2019-K103，A1类	\n 2.31% \n	\n 06/25/29 \n	\n 288,120 \n
\n 217,105 \n	\n 系列\n 2019-K1510，A3类	\n 3.79% \n	\n 01/25/34 \n	\n 201,582 \n
\n 73,971,871 \n	\n 系列\n 2019-K1510，X1类，IO（b）	\n 0.48% \n	\n 01/25/34 \n	\n 1,859,963 \n
\n 26,332,246 \n	\n 系列\n 2019-K1512，X1类，IO（b）	\n 0.90% \n	\n 04/25/34 \n	\n 1,191,608 \n
\n 24,601,745 \n	\n 系列\n 2020-K104，X1类，IO（b）	\n 1.10% \n	\n 01/25/30 \n	\n 801,099 \n
\n 5,200,000 \n	\n 系列\n 2020-K104，XAM类，IO（b）	\n 1.38% \n	\n 01/25/30 \n	\n 229,726 \n
\n 18,572,696 \n	\n 系列\n 2020-K110，X1类，IO（b）	\n 1.63% \n	\n 04/25/30 \n	\n 911,981 \n
\n 33,622,499 \n	\n 系列\n 2020-K115，X1类，IO（b）	\n 1.31% \n	\n 06/25/30 \n	\n 1,431,938 \n
\n 7,680,899 \n	\n 系列\n 2020-K116，X1类，IO（b）	\n 1.40% \n	\n 07/25/30 \n	\n 343,444 \n

参见\n财务报表附注

第\n3页

First Trust Core\n投资级ETF（FTCB）\n\n

投资组合（继续）\n\n2026年7月31日

\n 本金 \n 价值 \n	\n 描述 \n	\n 规定 \n 票面利率 \n	\n 规定 \n 到期日 \n	\n 价值 \n
\n 美国\n政府机构抵押贷款支持证券（继续）
\n	\n 商业抵押贷款支持证券（继续）
\n	\n 联邦\n住房贷款抵押公司多户结构化 \n 通过证书（继续）	\n \n	\n \n	\n
\n $8,257,250 \n	\n 系列\n 2020-K118，X1类，IO（b）	\n 0.94% \n	\n 09/25/30 \n	\n $267,078 \n
\n 70,830,426 \n	\n 系列\n 2020-K120，X1类，IO（b）	\n 1.02% \n	\n 10/25/30 \n	\n 2,447,418 \n
\n 398,700 \n	\n 系列\n 2020-K1517，X1类，IO（b）	\n 1.32% \n	\n 07/25/35 \n	\n 33,575 \n
\n 8,345,337 \n	\n 系列\n 2020-KG03，X1类，IO（b）	\n 1.36% \n	\n 06/25/30 \n	\n 354,939 \n
\n 9,584,441 \n	\n 系列\n 2020-KG04，X1类，IO（b）	\n 0.84% \n	\n 11/25/30 \n	\n 275,453 \n
\n 29,622,577 \n	\n 系列\n 2021-K130，X1类，IO（b）	\n 1.03% \n	\n 06/25/31 \n	\n 1,222,450 \n
\n 91,554,037 \n	\n 系列\n 2021-K132，X1类，IO（b）	\n 0.50% \n	\n 08/25/31 \n	\n 1,964,109 \n
\n 2,155,787 \n	\n 系列\n 2021-K743，X1类，IO（b）	\n 0.90% \n	\n 05/25/28 \n	\n 29,507 \n
\n 16,549,130 \n	\n 系列\n 2021-KG05，X1类，IO（b）	\n 0.31% \n	\n 01/25/31 \n	\n 188,023 \n
\n 265,851 \n	\n 系列\n 2022-K142，A1类	\n 2.40% \n	\n 12/25/31 \n	\n 246,292 \n
\n 480,482 \n	\n 系列\n 2022-K152，A1类	\n 3.78% \n	\n 01/25/32 \n	\n 473,004 \n
\n 116,788,000 \n	\n 系列\n 2024-K164，XAM类，IO（b）	\n 0.27% \n	\n 06/25/34 \n	\n 2,562,854 \n
\n 4,437,000 \n	\n 系列\n 2024-K165，XAM类，IO（b）	\n 0.91% \n	\n 09/25/34 \n	\n 282,540 \n
\n 22,349,000 \n	\n 系列\n 2024-K167，XAM类，IO（b）	\n 0.37% \n	\n 11/25/34 \n	\n 627,131 \n
\n 919,000 \n	\n 系列\n 2024-K757，XAM类，IO（b）	\n 0.99% \n	\n 08/25/31 \n	\n 41,346 \n
\n 325,000 \n	\n 系列\n 2024-KJ51，A2类	\n 4.70% \n	\n 01/25/32 \n	\n 321,281 \n
\n 71,332,281 \n	\n 系列\n 2025-K541，X1类，IO（b）	\n 0.64% \n	\n 02/25/30 \n	\n 1,466,007 \n
\n 71,798,184 \n	\n 系列\n 2025-K546，X1类，IO（b）	\n 0.90% \n	\n 05/25/30 \n	\n 2,147,089 \n
\n	\n 联邦\n国家抵押贷款协会替代信用 \n 增强\n证券	\n \n	\n \n	\n
\n 361,626 \n	\n 系列\n 2024-M3，Z类（b）	\n 4.55% \n	\n 04/25/53 \n	\n 291,742 \n
\n 9,017,784 \n	\n 系列\n 2026-M4，Z类（b）	\n 2.85% \n	\n 04/25/52 \n	\n 5,160,229 \n
\n	\n 政府\n国家抵押贷款协会	\n \n	\n \n	\n
\n 34,906,842 \n	\n 系列\n 2020-24，IO类（g）	\n 0.59% \n	\n 04/16/62 \n	\n 1,397,789 \n
\n 10,809,417 \n	\n 系列\n 2021-31，IO类，IO（b）	\n 0.94% \n	\n 01/16/61 \n	\n 740,274 \n
\n 29,643,391 \n	\n 系列\n 2024-32，IO类，IO（b）	\n 0.70% \n	\n 06/16/63 \n	\n 1,533,189 \n
\n 12,860,889 \n	\n 系列\n 2025-21，IO类，IO（b）	\n 0.95% \n	\n 04/16/65 \n	\n 908,325 \n
\n 16,722,480 \n	\n 系列\n 2025-78，IO类，IO（b）	\n 1.00% \n	\n 11/16/63 \n	\n 1,227,440 \n
\n 24,113,336 \n	\n 系列\n 2025-153，IO类，IO（b）	\n 0.85% \n	\n 09/16/67 \n	\n 1,781,836 \n
\n 67,978,425 \n	\n 系列\n 2025-206，IO类，IO（b）	\n 0.80% \n	\n 04/16/64 \n	\n 4,136,473 \n
\n 49,376,000 \n	\n 系列\n 2026-133，IO类，IO（b）	\n 0.83% \n	\n 04/16/65 \n	\n 3,087,832 \n
\n	\n \n	\n 44,720,307 \n
\n	\n 通过\n证券 — 13.4%	\n
\n	\n 联邦\n住房贷款抵押公司
\n 1,925,522 \n	\n 池\nQ43173 \n	\n 3.00% \n	\n 09/01/46 \n	\n 1,689,726 \n
\n 726,872 \n	\n 池\nRB5112 \n	\n 2.50% \n	\n 05/01/41 \n	\n 644,030 \n
\n 5,190,388 \n	\n 池\nRB5126 \n	\n 2.50% \n	\n 09/01/41 \n	\n 4,562,824 \n
\n 1,623,299 \n	\n 池\nRE6076 \n	\n 2.00% \n	\n 12/01/50 \n	\n 1,243,600 \n
\n 2,110,740 \n	\n 池\nSD0257 \n	\n 3.00% \n	\n 01/01/50 \n	\n 1,802,466 \n
\n 3,100,907 \n	\n 池\nSD7309 \n	\n 4.00% \n	\n 02/01/45 \n	\n 2,923,823 \n
\n 540,732 \n	\n Pool\n SD7550 \n	\n 3.00% \n	\n 02/01/52 \n	\n 471,664 \n
\n 5,024,814 \n	\n Pool\n SL0847 \n	\n 3.50% \n	\n 04/01/49 \n	\n 4,523,277 \n
\n 861,722 \n	\n Pool\n ZS9776 \n	\n 3.50% \n	\n 08/01/46 \n	\n 782,772 \n
\n 3,709,309 \n	\n Pool\n ZT0794 \n	\n 4.50% \n	\n 10/01/48 \n	\n 3,554,770 \n
\n 15,430,957 \n	\n Pool\n ZT2264 \n	\n 4.00% \n	\n 03/01/44 \n	\n 14,509,422 \n
\n	\n 联邦国民抵押贷款协会
\n 427,842 \n	\n Pool\n 310208 \n	\n 3.00% \n	\n 03/01/48 \n	\n 368,831 \n
\n 427,029 \n	\n Pool\n 310211 \n	\n 3.50% \n	\n 07/01/48 \n	\n 384,952 \n

参见财务报表附注

第\n4页

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

投资组合（继续）\n\n2026年7月31日

\n 本金 \n 价值 \n	\n 描述 \n	\n 约定 \n 票面利率 \n	\n 约定 \n 到期日 \n	\n 价值 \n
\n 美国\n 政府机构抵押贷款支持证券（继续）
\n	\n 过手证券\n （继续）	\n
\n	\n 联邦\n 国民抵押贷款协会（继续）
\n $3,490,268 \n	\n Pool\n AL8400 \n	\n 3.00% \n	\n 08/01/43 \n	\n $3,133,492 \n
\n 5,105,404 \n	\n Pool\n AL9394 \n	\n 3.00% \n	\n 11/01/46 \n	\n 4,441,455 \n
\n 3,341,245 \n	\n Pool\n AS5843 \n	\n 4.00% \n	\n 09/01/45 \n	\n 3,128,527 \n
\n 217,323 \n	\n Pool\n BF0207 \n	\n 4.50% \n	\n 04/01/47 \n	\n 211,406 \n
\n 2,151,823 \n	\n Pool\n BM4629 \n	\n 4.00% \n	\n 10/01/48 \n	\n 1,979,804 \n
\n 4,208,410 \n	\n Pool\n BM6210 \n	\n 3.50% \n	\n 12/01/47 \n	\n 3,778,375 \n
\n 8,594,917 \n	\n Pool\n BM6429 \n	\n 3.00% \n	\n 09/01/48 \n	\n 7,409,564 \n
\n 1,454,635 \n	\n Pool\n BM7345 \n	\n 4.50% \n	\n 03/01/50 \n	\n 1,345,194 \n
\n 308,722 \n	\n Pool\n BM7521 \n	\n 3.50% \n	\n 10/01/48 \n	\n 279,157 \n
\n 3,480,602 \n	\n Pool\n BM7687 \n	\n 3.00% \n	\n 11/01/46 \n	\n 3,070,209 \n
\n 4,334,125 \n	\n Pool\n BM7699 \n	\n 3.50% \n	\n 02/01/47 \n	\n 3,982,008 \n
\n 3,415,464 \n	\n Pool\n BM7914 \n	\n 2.00% \n	\n 03/01/52 \n	\n 2,616,580 \n
\n 6,560,993 \n	\n Pool\n CA7695 \n	\n 1.50% \n	\n 11/01/50 \n	\n 4,895,904 \n
\n 4,542,883 \n	\n Pool\n FA0606 \n	\n 3.50% \n	\n 09/01/47 \n	\n 4,222,230 \n
\n 2,633,223 \n	\n Pool\n FA0983 \n	\n 4.00% \n	\n 11/01/50 \n	\n 2,438,781 \n
\n 9,057,499 \n	\n Pool\n FA1024 \n	\n 2.50% \n	\n 05/01/51 \n	\n 7,426,903 \n
\n 9,247,342 \n	\n Pool\n FA1265 \n	\n 4.50% \n	\n 12/01/50 \n	\n 8,860,115 \n
\n 4,774,651 \n	\n Pool\n FM3972 \n	\n 3.50% \n	\n 07/01/50 \n	\n 4,253,479 \n
\n 1,945,385 \n	\n Pool\n FM9416 \n	\n 3.50% \n	\n 07/01/45 \n	\n 1,771,970 \n
\n 7,971,389 \n	\n Pool\n FM9645 \n	\n 4.50% \n	\n 11/01/49 \n	\n 7,639,361 \n
\n 329,214 \n	\n Pool\n FM9712 \n	\n 3.50% \n	\n 11/01/50 \n	\n 299,203 \n
\n 2,499,179 \n	\n Pool\n FP0122 \n	\n 4.50% \n	\n 07/01/51 \n	\n 2,379,897 \n
\n 5,425,870 \n	\n Pool\n FS0704 \n	\n 4.00% \n	\n 03/01/47 \n	\n 5,088,366 \n
\n 4,100,686 \n	\n Pool\n FS1046 \n	\n 4.50% \n	\n 11/01/49 \n	\n 3,932,595 \n
\n 3,948,507 \n	\n Pool\n FS6440 \n	\n 4.00% \n	\n 10/01/48 \n	\n 3,672,223 \n
\n 10,962,492 \n	\n Pool\n FS8780 \n	\n 3.00% \n	\n 07/01/50 \n	\n 9,615,767 \n
\n 12,917,855 \n	\n Pool\n FS8862 \n	\n 3.50% \n	\n 05/01/48 \n	\n 11,774,805 \n
\n 5,146,396 \n	\n Pool\n FS9392 \n	\n 3.50% \n	\n 05/01/49 \n	\n 4,672,541 \n
\n 1,039,980 \n	\n Pool\n MA1582 \n	\n 3.50% \n	\n 09/01/43 \n	\n 955,615 \n
\n 2,129,748 \n	\n Pool\n MA4025 \n	\n 2.50% \n	\n 05/01/50 \n	\n 1,725,042 \n
\n 369,165 \n	\n Pool\n MA4319 \n	\n 2.00% \n	\n 04/01/51 \n	\n 282,817 \n
\n 6,821,314 \n	\n Pool\n MA4320 \n	\n 2.50% \n	\n 04/01/51 \n	\n 5,525,009 \n
\n 1,945,000 \n	\n Pool\n TBA (h)	\n 4.00% \n	\n 08/15/41 \n	\n 1,863,319 \n
\n 3,800,000 \n	\n Pool\n TBA (h)	\n 5.50% \n	\n 08/15/41 \n	\n 3,839,449 \n
\n 10,127,000 \n	\n Pool\n TBA (h)	\n 4.50% \n	\n 09/01/55 \n	\n 9,496,656 \n
\n 4,639,000 \n	\n Pool\n TBA (h)	\n 3.00% \n	\n 08/01/56 \n	\n 3,955,652 \n
\n 36,000 \n	\n Pool\n TBA (h)	\n 2.50% \n	\n 08/15/56 \n	\n 29,356 \n
\n 6,611,000 \n	\n Pool\n TBA (h)	\n 3.50% \n	\n 08/15/56 \n	\n 5,865,455 \n
\n 1,674,000 \n	\n Pool\n TBA \n	\n 5.00% \n	\n 08/15/56 \n	\n 1,615,745 \n
\n 36,300,000 \n	\n Pool\n TBA (h)	\n 5.50% \n	\n 08/15/56 \n	\n 35,928,342 \n
\n 38,501,000 \n	\n Pool\n TBA (h)	\n 5.50% \n	\n 09/15/56 \n	\n 38,046,649 \n
\n 9,984,000 \n	\n Pool\n TBA (h)	\n 6.00% \n	\n 09/15/56 \n	\n 10,077,951 \n
\n 7,464,000 \n	\n Pool\n TBA \n	\n 6.00% \n	\n 10/15/56 \n	\n 7,528,406 \n
\n	\n 政府\n 国家抵押贷款协会
\n 2,039,668 \n	\n Pool\n AU4920 \n	\n 3.02% \n	\n 09/15/41 \n	\n 1,760,225 \n
\n 6,430,500 \n	\n Pool\n DO5687 \n	\n 5.72% \n	\n 06/15/53 \n	\n 6,442,582 \n
\n 46,989,965 \n	\n Pool\n MA7192 \n	\n 2.00% \n	\n 02/20/51 \n	\n 37,738,142 \n
\n 8,653,000 \n	\n Pool\n TBA (h)	\n 3.50% \n	\n 08/15/56 \n	\n 7,575,913 \n

参见财务报表附注

第\n5页

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

投资组合（继续）\n\n2026年7月31日

\n 本金 \n 价值 \n	\n 描述 \n	\n 约定 \n 票面利率 \n	\n 约定 \n 到期日 \n	\n 价值 \n
\n 美国\n 政府机构抵押贷款支持证券（继续）
\n	\n 过手证券\n （继续）	\n
\n	\n 政府\n 国家住房贷款协会（继续）
\n $3,768,000 \n	\n 组合\n TBA（h）	\n 4.00% \n	\n 08/15/56 \n	\n $3,409,389 \n
\n 2,501,000 \n	\n 组合\n TBA（h）	\n 4.50% \n	\n 08/15/56 \n	\n 2,344,585 \n
\n	\n \n	\n 341,788,367 \n
\n	\n 总计\n 美国政府机构抵押支持证券	\n 855,193,606 \n
\n	\n （成本\n 865,534,345 美元）	\n
\n 公司\n 债券和票据 — 20.5%
\n	\n 航空航天/国防\n — 0.4%	\n
\n 1,500,000 \n	\n 波音\n （The）公司	\n 6.63% \n	\n 02/15/38 \n	\n 1,606,531 \n
\n 1,750,000 \n	\n 波音\n （The）公司	\n 3.55% \n	\n 03/01/38 \n	\n 1,424,876 \n
\n 3,000,000 \n	\n 波音\n （The）公司	\n 5.81% \n	\n 05/01/50 \n	\n 2,835,721 \n
\n 5,385,000 \n	\n HEICO\n 公司	\n 5.40% \n	\n 08/01/36 \n	\n 5,332,599 \n
\n	\n \n	\n 11,199,727 \n
\n	\n 银行\n — 4.0%	\n
\n 8,170,000 \n	\n 美国银行\n 公司（i）	\n 4.57% \n	\n 04/27/33 \n	\n 7,911,859 \n
\n 8,000,000 \n	\n 花旗公司，\n 公司（i）	\n 4.91% \n	\n 05/24/33 \n	\n 7,875,049 \n
\n 5,000,000 \n	\n 第五第三银行\n 公司（i）	\n 4.34% \n	\n 04/25/33 \n	\n 4,755,987 \n
\n 5,000,000 \n	\n 第五第三银行\n 公司（i）	\n 5.14% \n	\n 01/29/37 \n	\n 4,805,856 \n
\n 12,000,000 \n	\n 第一-花旗\n 银行 & 信托公司（i）	\n 5.10% \n	\n 07/13/29 \n	\n 11,972,054 \n
\n 2,500,000 \n	\n 高盛\n 集团（The），公司（i）	\n 4.52% \n	\n 01/21/32 \n	\n 2,427,037 \n
\n 7,500,000 \n	\n 高盛\n 集团（The），公司（i）	\n 5.24% \n	\n 07/21/32 \n	\n 7,486,868 \n
\n 2,500,000 \n	\n 高盛\n 集团（The），公司（i）	\n 3.10% \n	\n 02/24/33 \n	\n 2,235,825 \n
\n 4,500,000 \n	\n 亨廷顿\n 银行股份公司，公司（i）	\n 5.02% \n	\n 05/17/33 \n	\n 4,429,499 \n
\n 6,500,000 \n	\n 亨廷顿\n 银行股份公司，公司（i）	\n 5.71% \n	\n 02/02/35 \n	\n 6,525,295 \n
\n 8,500,000 \n	\n 摩根大通\n 银行 & 公司（i）	\n 5.04% \n	\n 07/23/32 \n	\n 8,464,739 \n
\n 2,940,000 \n	\n 摩根大通\n 银行 & 公司（i）	\n 4.91% \n	\n 07/25/33 \n	\n 2,901,974 \n
\n 2,450,000 \n	\n 摩根士丹利\n （i）	\n 6.34% \n	\n 10/18/33 \n	\n 2,576,988 \n
\n 10,000,000 \n	\n 摩根士丹利\n （i）	\n 5.25% \n	\n 04/21/34 \n	\n 9,906,098 \n
\n 6,501,000 \n	\n 摩根士丹利\n （i）	\n 5.61% \n	\n 07/17/37 \n	\n 6,464,330 \n
\n 2,500,000 \n	\n 富国银行\n & 公司（i）	\n 4.90% \n	\n 07/25/33 \n	\n 2,456,223 \n
\n 3,500,000 \n	\n Zions\n 银行股份公司 N.A.（i）	\n 4.70% \n	\n 08/18/28 \n	\n 3,488,990 \n
\n 4,500,000 \n	\n Zions\n 银行股份公司 N.A.（i）	\n 4.48% \n	\n 02/09/29 \n	\n 4,465,630 \n
\n	\n \n	\n 101,150,301 \n
\n	\n 饮料\n — 0.4%	\n
\n 2,500,000 \n	\n 星座\n 品牌公司，公司	\n 4.95% \n	\n 11/01/35 \n	\n 2,387,925 \n
\n 820,000 \n	\n 星座\n 品牌公司，公司	\n 5.25% \n	\n 11/15/48 \n	\n 726,929 \n
\n 7,000,000 \n	\n 莫林\n 科尔斯饮料公司	\n 5.50% \n	\n 07/08/36 \n	\n 6,879,615 \n
\n 1,145,000 \n	\n 莫林\n 科尔斯饮料公司	\n 4.20% \n	\n 07/15/46 \n	\n 874,226 \n
\n	\n \n	\n 10,868,695 \n
\n	\n 生物科技\n — 0.1%	\n
\n 2,500,000 \n	\n 百健\n ，公司	\n 5.75% \n	\n 05/15/35 \n	\n 2,559,976 \n
\n	\n 建筑材料 — 0.3%	\n
\n 5,000,000 \n	\n CRH\n 美国金融公司，公司	\n 5.40% \n	\n 05/21/34 \n	\n 4,998,717 \n
\n 2,500,000 \n	\n JH\n 北美控股公司，公司（a）	\n 6.13% \n	\n 07/31/32 \n	\n 2,504,364 \n
\n	\n \n	\n 7,503,081 \n
\n	\n 商业服务 — 1.2%	\n
\n 2,000,000 \n	\n Ashtead\n 资本公司，公司（a）	\n 5.50% \n	\n 08/11/32 \n	\n 2,013,192 \n
\n 14,605,000 \n	\n Ashtead\n 资本公司，公司（a）	\n 5.80% \n	\n 04/15/34 \n	\n 14,678,289 \n

参见\n 财务报表附注

第\n6

第一信托核心\n投资级ETF（FTCB）\n\n

投资组合（继续）\n\n2026年7月31日

\n 本金 \n 价值 \n	\n 描述 \n	\n 规定 \n 票面利率 \n	\n 规定 \n 到期日 \n	\n 价值 \n
\n 公司\n 债券和票据（继续）
\n	\n 商业服务\n （继续）	\n
\n $5,000,000 \n	\n 全球\n 支付公司	\n 5.20% \n	\n 11/15/32 \n	\n $4,829,321 \n
\n 5,000,000 \n	\n 全球\n 支付公司	\n 5.55% \n	\n 11/15/35 \n	\n 4,764,303 \n
\n 500,000 \n	\n 阳光带\n 租赁控股公司，公司（a）	\n 4.95% \n	\n 08/12/30 \n	\n 496,108 \n
\n 4,765,000 \n	\n 联合\n 租赁北美公司，公司（a）	\n 6.00% \n	\n 12/15/29 \n	\n 4,820,269 \n
\n	\n \n	\n 31,601,482 \n
\n	\n 计算机\n — 0.2%	\n
\n 4,550,000 \n	\n Crowdstrike\n 控股公司，公司	\n 3.00% \n	\n 02/15/29 \n	\n 4,326,282 \n
\n	\n 多元化\n 金融服务 — 1.8%	\n
\n 4,000,000 \n	\n Citadel\n 证券全球控股有限责任公司（a）	\n 5.50% \n	\n 06/18/30 \n	\n 4,020,557 \n
\n 5,000,000 \n	\n Citadel\n 证券全球控股有限责任公司（a）	\n 5.13% \n	\n 01/27/32 \n	\n 4,893,975 \n
\n 2,000,000 \n	\n LPL\n 控股公司，公司	\n 5.15% \n	\n 06/15/30 \n	\n 1,994,107 \n
\n 6,833,000 \n	\n LSEG\n 美国金融公司（a）	\n 5.25% \n	\n 03/23/36 \n	\n 6,660,831 \n
\n 9,750,000 \n	\n 火箭\n 公司，公司（a）	\n 6.38% \n	\n 08/01/33 \n	\n 9,820,126 \n
\n 8,000,000 \n	\n 火箭\n 公司，公司（a）	\n 6.50% \n	\n 06/15/34 \n	\n 8,073,232 \n
\n 3,500,000 \n	\n 火箭\n 抵押贷款有限责任公司 / 火箭抵押贷款共同发行人公司（a）	\n 3.88% \n	\n 03/01/31 \n	\n 3,244,874 \n
\n 5,586,000 \n	\n 火箭\n 抵押贷款有限责任公司 / 火箭抵押贷款共同发行人公司（a）	\n 4.00% \n	\n 10/15/33 \n	\n 4,937,175 \n
\n 2,727,000 \n	\n Synchrony\n 金融公司（i）	\n 5.45% \n	\n 10/15/30 \n	\n 2,731,272 \n
\n	\n \n	\n 46,376,149 \n
\n	\n 电力\n — 1.9%	\n
\n 2,340,000 \n	\n 杜克\n 能源卡罗来纳有限责任公司	\n 5.30% \n	\n 02/15/40 \n	\n 2,263,772 \n
\n 1,000,000 \n	\n 杜克\n 能源进展有限责任公司	\n 5.55% \n	\n 03/15/55 \n	\n 924,648 \n
\n 3,155,000 \n	\n 佛罗里达电力与照明公司	\n 5.30% \n	\n 04/01/53 \n	\n 2,827,752 \n
\n 5,000,000 \n	\n 佛罗里达电力与照明公司	\n 5.75% \n	\n 06/01/56 \n	\n 4,773,741 \n
\n 5,000,000 \n	\n 印第安纳米歇根电力公司	\n 5.60% \n	\n 03/15/56 \n	\n 4,609,645 \n
\n 5,963,000 \n	\n MidAmerican能源公司	\n 5.50% \n	\n 11/15/56 \n	\n 5,445,198 \n
\n 3,000,000 \n	\n 北方州电力公司	\n 5.65% \n	\n 05/15/55 \n	\n 2,806,348 \n
\n 3,500,000 \n	\n NRG能源公司（a）	\n 4.73% \n	\n 10/15/30 \n	\n 3,418,740 \n
\n 5,000,000 \n	\n NRG能源公司（a）	\n 5.41% \n	\n 10/15/35 \n	\n 4,790,941 \n
\n 4,000,000 \n	\n 弗吉尼亚电力与电力公司	\n 5.70% \n	\n 03/15/56 \n	\n 3,718,904 \n
\n 3,500,000 \n	\n 弗吉尼亚电力与电力公司，D系列	\n 5.60% \n	\n 09/15/55 \n	\n 3,216,563 \n
\n 750,000 \n	\n Vistra运营公司有限责任公司（a）	\n 4.60% \n	\n 10/15/30 \n	\n 730,295 \n
\n 8,500,000 \n	\n Vistra运营公司，有限责任公司（a）	\n 5.70% \n	\n 12/30/34 \n	\n 8,391,799 \n
\n	\n \n	\n 47,918,346 \n
\n	\n 工程与建设 — 0.4%	\n
\n 5,000,000 \n	\n 雅各布斯解决方案公司	\n 4.75% \n	\n 03/03/31 \n	\n 4,891,440 \n
\n 5,000,000 \n	\n 雅各布斯解决方案公司	\n 5.38% \n	\n 03/03/36 \n	\n 4,818,574 \n
\n	\n \n	\n 9,710,014 \n
\n	\n 环境控制 — 0.0%	\n
\n 1,000,000 \n	\n 废弃物管理公司	\n 5.35% \n	\n 10/15/54 \n	\n 921,788 \n
\n	\n 食品 — 0.9%	\n
\n 1,470,000 \n	\n 卡梅尔公司（The）	\n 5.40% \n	\n 03/21/34 \n	\n 1,421,333 \n
\n 2,500,000 \n	\n 康尼格拉品牌公司	\n 5.40% \n	\n 08/01/31 \n	\n 2,498,523 \n
\n 4,143,000 \n	\n 康尼格拉品牌公司	\n 5.75% \n	\n 08/01/35 \n	\n 4,114,129 \n
\n 970,000 \n	\n 康尼格拉品牌公司	\n 5.30% \n	\n 11/01/38 \n	\n 896,435 \n
\n 4,500,000 \n	\n 康尼格拉品牌公司	\n 5.40% \n	\n 11/01/48 \n	\n 3,803,547 \n
\n 3,335,000 \n	\n 卡夫亨氏食品公司	\n 5.00% \n	\n 06/04/42 \n	\n 2,886,029 \n
\n 7,000,000 \n	\n 玛氏公司（a）	\n 5.70% \n	\n 05/01/55 \n	\n 6,610,600 \n
\n	\n \n	\n 22,230,596 \n

参见财务报表附注

第7页

第一信托核心投资级ETF（FTCB）\n\n

投资组合（继续）\n\n2026年7月31日

\n 本金 \n 价值 \n	\n 描述 \n	\n 面值 \n 票面利率 \n	\n 面值 \n 到期日 \n	\n 价值 \n
\n 公司债券和票据（继续）
\n	\n 医疗保健-产品 — 1.5%	\n
\n $7,500,000 \n	\n 180\n Medical, Inc. (a)	\n 3.88% \n	\n 10/15/29 \n	\n $7,211,593 \n
\n 5,000,000 \n	\n 180\n Medical, Inc. (a)	\n 5.30% \n	\n 10/08/35 \n	\n 4,796,576 \n
\n 2,265,000 \n	\n Alcon\n Finance Corp. (a)	\n 5.75% \n	\n 12/06/52 \n	\n 2,143,523 \n
\n 13,000,000 \n	\n Medline\n Borrower, L.P. (a)	\n 3.88% \n	\n 04/01/29 \n	\n 12,582,287 \n
\n 11,000,000 \n	\n Medline\n Borrower, L.P. / Medline Co-Issuer, Inc. (a)	\n 5.25% \n	\n 06/15/33 \n	\n 10,828,486 \n
\n	\n \n	\n 37,562,465 \n
\n	\n Healthcare-Services\n — 1.8%	\n
\n 2,360,000 \n	\n Centene\n Corp.	\n 4.25% \n	\n 12/15/27 \n	\n 2,352,540 \n
\n 2,250,000 \n	\n Centene\n Corp.	\n 3.00% \n	\n 10/15/30 \n	\n 2,023,708 \n
\n 975,000 \n	\n Charles\n River Laboratories International, Inc. (a)	\n 3.75% \n	\n 03/15/29 \n	\n 932,476 \n
\n 4,000,000 \n	\n Cigna\n Group (The)	\n 4.80% \n	\n 08/15/38 \n	\n 3,689,631 \n
\n 1,750,000 \n	\n Cigna\n Group (The)	\n 4.80% \n	\n 07/15/46 \n	\n 1,476,495 \n
\n 3,500,000 \n	\n Cigna\n Group (The)	\n 6.00% \n	\n 01/15/56 \n	\n 3,401,802 \n
\n 1,475,000 \n	\n Elevance\n Health, Inc.	\n 4.65% \n	\n 01/15/43 \n	\n 1,260,164 \n
\n 525,000 \n	\n Elevance\n Health, Inc.	\n 5.13% \n	\n 02/15/53 \n	\n 446,771 \n
\n 3,500,000 \n	\n Elevance\n Health, Inc.	\n 5.70% \n	\n 09/15/55 \n	\n 3,244,285 \n
\n 4,864,000 \n	\n HCA,\n Inc.	\n 4.90% \n	\n 11/15/35 \n	\n 4,604,441 \n
\n 3,585,000 \n	\n HCA,\n Inc.	\n 4.63% \n	\n 03/15/52 \n	\n 2,765,801 \n
\n 65,000 \n	\n IQVIA,\n Inc. (a)	\n 5.70% \n	\n 05/15/28 \n	\n 65,831 \n
\n 3,000,000 \n	\n IQVIA,\n Inc.	\n 5.70% \n	\n 05/15/28 \n	\n 3,038,340 \n
\n 6,000,000 \n	\n UnitedHealth\n Group, Inc.	\n 5.50% \n	\n 07/15/44 \n	\n 5,665,478 \n
\n 2,000,000 \n	\n Universal\n Health Services, Inc.	\n 4.63% \n	\n 10/15/29 \n	\n 1,968,980 \n
\n 4,710,000 \n	\n Universal\n Health Services, Inc.	\n 2.65% \n	\n 10/15/30 \n	\n 4,218,155 \n
\n 5,000,000 \n	\n Universal\n Health Services, Inc.	\n 5.05% \n	\n 10/15/34 \n	\n 4,715,387 \n
\n	\n \n	\n 45,870,285 \n
\n	\n Household\n Products/Wares — 0.2%	\n
\n 5,000,000 \n	\n Clorox\n (The) Co.	\n 5.25% \n	\n 05/15/36 \n	\n 4,873,921 \n
\n	\n Insurance\n — 1.4%	\n
\n 3,805,000 \n	\n Arthur\n J. Gallagher & Co.	\n 5.55% \n	\n 02/15/55 \n	\n 3,425,842 \n
\n 7,115,000 \n	\n Brown\n & Brown, Inc.	\n 4.20% \n	\n 03/17/32 \n	\n 6,689,603 \n
\n 3,245,000 \n	\n Brown\n & Brown, Inc.	\n 5.65% \n	\n 06/11/34 \n	\n 3,227,920 \n
\n 1,000,000 \n	\n Brown\n & Brown, Inc.	\n 4.95% \n	\n 03/17/52 \n	\n 808,743 \n
\n 5,000,000 \n	\n Brown\n & Brown, Inc.	\n 6.25% \n	\n 06/23/55 \n	\n 4,839,291 \n
\n 5,000,000 \n	\n Ryan\n Specialty LLC (a)	\n 4.38% \n	\n 02/01/30 \n	\n 4,833,961 \n
\n 11,053,000 \n	\n Ryan\n Specialty LLC (a)	\n 5.88% \n	\n 08/01/32 \n	\n 10,907,870 \n
\n	\n \n	\n 34,733,230 \n
\n	\n Internet\n — 0.2%	\n
\n 2,000,000 \n	\n Amazon.com,\n Inc.	\n 6.00% \n	\n 07/09/46 \n	\n 1,945,420 \n
\n 3,855,000 \n	\n AppLovin\n Corp.	\n 5.38% \n	\n 12/01/31 \n	\n 3,860,706 \n
\n	\n \n	\n 5,806,126 \n
\n	\n Media\n — 1.1%	\n
\n 6,500,000 \n	\n Charter\n Communications Operating LLC / Charter Communications \n Operating\n Capital	\n 5.85% \n	\n 12/01/35 \n	\n 6,073,079 \n
\n 8,500,000 \n	\n FactSet\n Research Systems, Inc.	\n 3.45% \n	\n 03/01/32 \n	\n 7,650,932 \n
\n 3,000,000 \n	\n Space\n Exploration Technologies Corp. (a)	\n 5.88% \n	\n 07/15/36 \n	\n 2,804,410 \n
\n 6,000,000 \n	\n Space\n Exploration Technologies Corp. (a)	\n 6.60% \n	\n 07/15/46 \n	\n 5,355,129 \n
\n 6,000,000 \n	\n Space\n Exploration Technologies Corp. (a)	\n 6.65% \n	\n 07/15/56 \n	\n 5,314,941 \n
\n	\n \n	\n 27,198,491 \n

See\nNotes to Financial Statements

Page\n8

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n CORPORATE\n BONDS AND NOTES (Continued)
\n	\n Packaging\n & Containers — 0.2%	\n
\n $2,000,000 \n	\n Amcor\n Flexibles North America, Inc.	\n 5.10% \n	\n 03/17/30 \n	\n $2,008,269 \n
\n 3,000,000 \n	\n Amcor\n Flexibles North America, Inc.	\n 5.50% \n	\n 03/17/35 \n	\n 2,994,326 \n
\n 45,000 \n	\n Berry\n Global, Inc. (a)	\n 5.50% \n	\n 04/15/28 \n	\n 45,615 \n
\n 300,000 \n	\n Berry\n Global, Inc.	\n 5.65% \n	\n 01/15/34 \n	\n 302,365 \n
\n	\n \n	\n 5,350,575 \n
\n	\n Pharmaceuticals\n — 0.2%	\n
\n 5,000,000 \n	\n CVS\n Health Corp.	\n 6.20% \n	\n 09/15/55 \n	\n 4,872,813 \n
\n	\n Real\n Estate — 0.1%	\n
\n 4,000,000 \n	\n CoStar\n Group, Inc. (a)	\n 2.80% \n	\n 07/15/30 \n	\n 3,590,313 \n
\n	\n Real\n Estate Investment Trusts — 0.3%	\n
\n 8,500,000 \n	\n VICI\n Properties, L.P.	\n 5.13% \n	\n 05/15/32 \n	\n 8,292,694 \n
\n	\n Semiconductors\n — 0.1%	\n
\n 4,000,000 \n	\n Broadcom,\n Inc.	\n 3.50% \n	\n 02/15/41 \n	\n 3,018,067 \n
\n	\n Shipbuilding\n — 0.2%	\n
\n 4,441,000 \n	\n Huntington\n Ingalls Industries, Inc.	\n 5.75% \n	\n 01/15/35 \n	\n 4,514,899 \n
\n	\n Software\n — 0.9%	\n
\n 905,000 \n	\n Fidelity\n National Information Services, Inc.	\n 3.10% \n	\n 03/01/41 \n	\n 637,540 \n
\n 8,065,000 \n	\n MSCI,\n Inc. (a)	\n 3.88% \n	\n 02/15/31 \n	\n 7,568,748 \n
\n 2,667,000 \n	\n MSCI,\n Inc.	\n 5.25% \n	\n 09/01/35 \n	\n 2,560,787 \n
\n 3,500,000 \n	\n MSCI,\n Inc.	\n 5.15% \n	\n 03/15/36 \n	\n 3,323,140 \n
\n 5,000,000 \n	\n Oracle\n Corp.	\n 6.25% \n	\n 11/09/32 \n	\n 4,963,648 \n
\n 2,500,000 \n	\n Salesforce,\n Inc.	\n 4.90% \n	\n 09/15/31 \n	\n 2,464,267 \n
\n 2,500,000 \n	\n Salesforce,\n Inc.	\n 5.55% \n	\n 03/15/36 \n	\n 2,439,024 \n
\n	\n \n	\n 23,957,154 \n
\n	\n Telecommunications\n — 0.5%	\n
\n 6,000,000 \n	\n Beacon\n Point DC LLC (a)	\n 6.13% \n	\n 11/30/42 \n	\n 5,760,841 \n
\n 6,667,000 \n	\n QTS\n Fayetteville I DC1-2 LLC / QTS TRS Fayetteville I DC1- \n 2\n LLC (a)	\n 5.70% \n	\n 04/15/36 \n	\n 6,100,785 \n
\n	\n \n	\n 11,861,626 \n
\n	\n Water\n — 0.2%	\n
\n 4,333,000 \n	\n American\n Water Capital Corp.	\n 5.70% \n	\n 09/01/55 \n	\n 4,101,164 \n
\n	\n Total\n Corporate Bonds and Notes	\n 521,970,260 \n
\n	\n (Cost\n $536,750,906)	\n
\n MORTGAGE-BACKED\n SECURITIES — 20.1%
\n	\n Collateralized\n Mortgage Obligations — 14.9%
\n	\n Arroyo\n Mortgage Trust	\n \n	\n \n	\n
\n 67,694 \n	\n Series\n 2020-1, Class A1A (a)	\n 1.66% \n	\n 03/25/55 \n	\n 66,274 \n
\n	\n BRAVO\n Residential Funding Trust	\n \n	\n \n	\n
\n 500,000 \n	\n Series\n 2019-1, Class A3 (a)	\n 3.50% \n	\n 03/25/58 \n	\n 422,493 \n
\n 132,322 \n	\n Series\n 2019-2, Class A3 (a)	\n 3.50% \n	\n 10/25/44 \n	\n 125,865 \n
\n 1,220,689 \n	\n Series\n 2022-NQM1, Class A1 (a)	\n 4.63% \n	\n 09/25/61 \n	\n 1,188,027 \n
\n 1,037,647 \n	\n Series\n 2025-NQM3, Class A1 (a)	\n 5.57% \n	\n 03/25/65 \n	\n 1,040,711 \n
\n	\n Chase\n Home Lending Mortgage Trust	\n \n	\n \n	\n
\n 557,879 \n	\n Series\n 2019-ATR2, Class B1 (a) (b)	\n 3.99% \n	\n 07/25/49 \n	\n 511,780 \n
\n 356,076 \n	\n Series\n 2019-ATR2, Class B2 (a) (b)	\n 3.99% \n	\n 07/25/49 \n	\n 325,852 \n
\n 1,292,384 \n	\n Series\n 2025-8, Class A11, 30 Day Average SOFR +\n 1.30% (a) (c)	\n 4.92% \n	\n 06/25/56 \n	\n 1,295,216 \n
\n 2,363,969 \n	\n Series\n 2025-10, Class A11, 30 Day Average SOFR +\n \n 1.30%\n (a) (c)	\n 4.92% \n	\n 07/25/56 \n	\n 2,370,125 \n

See\nNotes to Financial Statements

Page\n9

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Collateralized\n Mortgage Obligations (Continued)
\n	\n Chase\n Mortgage Finance Corp.	\n \n	\n \n	\n
\n $4,857,876 \n	\n Series\n 2026-CINV1, Class A11, 30 Day Average SOFR +\n \n 1.20%\n (a) (c)	\n 4.83% \n	\n 01/25/57 \n	\n $4,864,707 \n
\n	\n CIM\n Trust	\n \n	\n \n	\n
\n 3,297,459 \n	\n Series\n 2019-INV3, Class B1A (a)	\n 4.64% \n	\n 08/25/49 \n	\n 3,145,374 \n
\n	\n Citigroup\n Mortgage Loan Trust	\n \n	\n \n	\n
\n 255,147 \n	\n Series\n 2014-A, Class B3 (a) (b)	\n 5.49% \n	\n 01/25/35 \n	\n 253,858 \n
\n	\n COLT\n Mortgage Loan Trust	\n \n	\n \n	\n
\n 555,996 \n	\n Series\n 2021-6, Class A1 (a)	\n 1.91% \n	\n 12/25/66 \n	\n 507,836 \n
\n 1,421,734 \n	\n Series\n 2025-4, Class A1, steps up to 6.79% on 05/01/29 (a) (j)	\n 5.79% \n	\n 04/25/70 \n	\n 1,426,640 \n
\n	\n Connecticut\n Avenue Securities Trust	\n \n	\n \n	\n
\n 2,220,405 \n	\n Series\n 2024-R05, Class 2A1, 30 Day Average SOFR +\n \n 1.00%\n (a) (c)	\n 4.62% \n	\n 07/25/44 \n	\n 2,223,323 \n
\n 1,686,634 \n	\n Series\n 2025-R01, Class 1A1, 30 Day Average SOFR +\n \n 0.95%\n (a) (c)	\n 4.57% \n	\n 01/25/45 \n	\n 1,687,734 \n
\n 1,605,972 \n	\n Series\n 2025-R02, Class 1A1, 30 Day Average SOFR +\n \n 1.00%\n (a) (c)	\n 4.62% \n	\n 02/25/45 \n	\n 1,607,461 \n
\n	\n Credit\n Suisse Mortgage Trust	\n \n	\n \n	\n
\n 2,423,944 \n	\n Series\n 2018-J1, Class A2 (a)	\n 3.50% \n	\n 02/25/48 \n	\n 2,162,052 \n
\n 613,891 \n	\n Series\n 2018-RPL9, Class A (a)	\n 3.85% \n	\n 09/25/57 \n	\n 583,942 \n
\n 165,971 \n	\n Series\n 2019-AFC1, Class A1 (a)	\n 3.57% \n	\n 07/25/49 \n	\n 160,915 \n
\n 1,480,457 \n	\n Series\n 2021-RPL6, Class A1 (a)	\n 2.00% \n	\n 10/25/60 \n	\n 1,326,929 \n
\n	\n Cross\n Mortgage Trust	\n \n	\n \n	\n
\n 1,399,083 \n	\n Series\n 2025-H3, Class A1 (a)	\n 5.88% \n	\n 04/25/70 \n	\n 1,406,182 \n
\n	\n Ellington\n Financial Mortgage Trust	\n \n	\n \n	\n
\n 289,000 \n	\n Series\n 2019-2, Class M1 (a)	\n 3.47% \n	\n 11/25/59 \n	\n 275,570 \n
\n 1,567,923 \n	\n Series\n 2024-INV2, Class A1, steps up to 6.04% on \n 09/01/28\n (a) (j)	\n 5.04% \n	\n 10/25/69 \n	\n 1,561,213 \n
\n 3,680,933 \n	\n Series\n 2025-NQM6, Class A1 (a) (g)	\n 5.00% \n	\n 12/25/70 \n	\n 3,648,391 \n
\n 2,533,833 \n	\n Series\n 2026-AE1, Class A29, 30 Day Average SOFR +\n \n 1.15%\n (a) (c)	\n 4.77% \n	\n 11/25/60 \n	\n 2,535,297 \n
\n 4,914,257 \n	\n Series\n 2026-AE3, Class A28, 30 Day Average SOFR +\n \n 1.35%\n (a) (c)	\n 4.97% \n	\n 06/25/61 \n	\n 4,916,416 \n
\n 3,313,625 \n	\n Series\n 2026-NQM3, Class A1 (a) (g)	\n 5.03% \n	\n 03/25/71 \n	\n 3,283,200 \n
\n	\n Flagstar\n Mortgage Trust	\n \n	\n \n	\n
\n 2,005,032 \n	\n Series\n 2018-2, Class B1 (a) (b)	\n 4.00% \n	\n 04/25/48 \n	\n 1,823,617 \n
\n	\n GCAT\n Trust	\n \n	\n \n	\n
\n 320,161 \n	\n Series\n 2019-RPL1, Class A1 (a)	\n 2.65% \n	\n 10/25/68 \n	\n 313,145 \n
\n 9,017,117 \n	\n Series\n 2025-INV5, Class A28, 30 Day Average SOFR +\n \n 1.50%\n (a) (c)	\n 5.12% \n	\n 12/25/55 \n	\n 9,029,607 \n
\n	\n GS\n Mortgage-Backed Securities Trust	\n \n	\n \n	\n
\n 129,425 \n	\n Series\n 2020-NQM1, Class A3 (a)	\n 2.35% \n	\n 09/27/60 \n	\n 126,273 \n
\n 9,000,000 \n	\n Series\n 2022-LTV1, Class A14 (a)	\n 3.00% \n	\n 06/25/52 \n	\n 6,293,793 \n
\n 4,012,503 \n	\n Series\n 2025-PJ11, Class A27, 30 Day Average SOFR +\n \n 1.35%\n (a) (c)	\n 4.97% \n	\n 05/25/56 \n	\n 4,022,566 \n
\n 1,366,909 \n	\n Series\n 2026-PJ1, Class A27, 30 Day Average SOFR +\n \n 1.25%\n (a) (c)	\n 4.87% \n	\n 06/25/56 \n	\n 1,360,593 \n
\n	\n HOMES\n Trust	\n \n	\n \n	\n
\n 4,782,214 \n	\n Series\n 2024-AFC1, Class A1, steps up to 6.22% on \n 09/01/28\n (a) (j)	\n 5.22% \n	\n 08/25/59 \n	\n 4,766,473 \n
\n 2,170,953 \n	\n Series\n 2024-AFC2, Class A1 (a)	\n 5.58% \n	\n 10/25/59 \n	\n 2,172,826 \n

See\nNotes to Financial Statements

Page\n10

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Collateralized\n Mortgage Obligations (Continued)
\n	\n HOMES\n Trust (Continued)	\n \n	\n \n	\n
\n $1,688,345 \n	\n Series\n 2025-AFC2, Class A1A, steps up to 6.47% on \n 06/01/29\n (a) (j)	\n 5.47% \n	\n 06/25/60 \n	\n $1,687,642 \n
\n 3,456,030 \n	\n Series\n 2025-AFC4, Class A1 (a) (g)	\n 5.15% \n	\n 11/25/60 \n	\n 3,433,076 \n
\n 8,023,792 \n	\n Series\n 2026-AFC1, Class A1 (a) (g)	\n 4.85% \n	\n 02/25/61 \n	\n 7,933,883 \n
\n	\n JP\n Morgan Mortgage Trust	\n \n	\n \n	\n
\n 665,479 \n	\n Series\n 2017-6, Class A7 (a)	\n 3.50% \n	\n 12/25/48 \n	\n 590,562 \n
\n 1,057,197 \n	\n Series\n 2019-6, Class B1 (a) (b)	\n 4.25% \n	\n 12/25/49 \n	\n 977,827 \n
\n 277,364 \n	\n Series\n 2019-INV1, Class A11, 1 Mo. CME Term SOFR +\n CSA +\n \n 0.95%\n (a) (c)	\n 4.79% \n	\n 09/25/49 \n	\n 273,561 \n
\n 1,562,651 \n	\n Series\n 2019-INV1, Class B1 (a) (b)	\n 4.93% \n	\n 09/25/49 \n	\n 1,498,391 \n
\n 764,390 \n	\n Series\n 2019-INV3, Class A13 (a)	\n 3.50% \n	\n 05/25/50 \n	\n 678,354 \n
\n 450,370 \n	\n Series\n 2019-INV3, Class A3 (a)	\n 3.50% \n	\n 05/25/50 \n	\n 399,679 \n
\n 465,357 \n	\n Series\n 2020-LTV2, Class B1 (a) (b)	\n 3.99% \n	\n 11/25/50 \n	\n 416,851 \n
\n 5,150,000 \n	\n Series\n 2025-3, Class A1C, steps up to 6.64% on 04/01/29 (a) (j)	\n 5.64% \n	\n 09/25/55 \n	\n 5,094,348 \n
\n 5,000,000 \n	\n Series\n 2025-5MPR, Class A1C, steps up to 6.82% on \n 05/01/29\n (a) (j)	\n 5.82% \n	\n 11/25/55 \n	\n 4,950,420 \n
\n 7,191,111 \n	\n Series\n 2026-1, Class A11, 30 Day Average SOFR +\n 1.10% (a) (c)	\n 4.72% \n	\n 07/25/56 \n	\n 7,137,454 \n
\n 6,555,645 \n	\n Series\n 2026-LTV1, Class A1 (a) (g)	\n 5.42% \n	\n 09/25/56 \n	\n 6,512,137 \n
\n	\n MetLife\n Securitization Trust	\n \n	\n \n	\n
\n 299,833 \n	\n Series\n 2018-1A, Class A (a)	\n 3.75% \n	\n 03/25/57 \n	\n 288,418 \n
\n	\n MFRA\n Trust	\n \n	\n \n	\n
\n 1,404,324 \n	\n Series\n 2023-INV2, Class A1, steps up to 7.78% on \n 09/01/27\n (a) (j)	\n 6.78% \n	\n 10/25/58 \n	\n 1,403,704 \n
\n 4,029,587 \n	\n Series\n 2024-NQM3, Class A1, steps up to 6.72% on \n 12/01/28\n (a) (j)	\n 5.72% \n	\n 12/25/69 \n	\n 4,034,213 \n
\n 5,059,641 \n	\n Series\n 2025-NQM4, Class A1 (a) (g)	\n 5.23% \n	\n 08/25/70 \n	\n 5,021,514 \n
\n 3,477,769 \n	\n Series\n 2025-NQM5, Class A1 (a) (g)	\n 5.19% \n	\n 11/25/70 \n	\n 3,445,123 \n
\n 5,708,953 \n	\n Series\n 2026-NQM1, Class A1 (a) (g)	\n 5.05% \n	\n 02/25/71 \n	\n 5,659,002 \n
\n	\n Morgan\n Stanley Residential Mortgage Loan Trust	\n \n	\n \n	\n
\n 2,634,089 \n	\n Series\n 2025-SPL1, Class A1 (a) (g)	\n 4.25% \n	\n 02/25/65 \n	\n 2,543,433 \n
\n 600,000 \n	\n Series\n 2026-CLTR1, Class A1LC, steps up to 6.61% on \n 07/01/30\n (a) (j)	\n 5.61% \n	\n 07/25/68 \n	\n 596,568 \n
\n 4,591,087 \n	\n Series\n 2026-INV1, Class A9, 30 Day Average SOFR +\n \n 1.15%\n (a) (c)	\n 4.77% \n	\n 02/25/61 \n	\n 4,559,822 \n
\n	\n New\n Residential Mortgage Loan Trust	\n \n	\n \n	\n
\n 1,602,731 \n	\n Series\n 2016-3A, Class B1 (a)	\n 4.00% \n	\n 09/25/56 \n	\n 1,558,549 \n
\n 5,640,165 \n	\n Series\n 2018-3A, Class A1 (a)	\n 4.50% \n	\n 05/25/58 \n	\n 5,408,911 \n
\n 2,632,330 \n	\n Series\n 2018-4A, Class A1S, 1 Mo. CME Term SOFR +\n CSA +\n \n 0.75%\n (a) (c)	\n 4.59% \n	\n 01/25/48 \n	\n 2,604,175 \n
\n	\n Onslow\n Bay Mortgage Loan Trust	\n \n	\n \n	\n
\n 3,936,521 \n	\n Series\n 2018-1, Class A2, 1 Mo. CME Term SOFR +\n \n 0.76%\n (a) (c)	\n 4.49% \n	\n 06/25/57 \n	\n 3,913,902 \n
\n 338,669 \n	\n Series\n 2019-EXP3, Class 2A1B, 1 Mo. CME Term SOFR +\n CSA \n +\n 0.90% (a) (c)	\n 4.74% \n	\n 10/25/59 \n	\n 338,882 \n
\n 255,971 \n	\n Series\n 2021-NQM4, Class A1 (a)	\n 1.96% \n	\n 10/25/61 \n	\n 216,538 \n
\n 2,000,000 \n	\n Series\n 2022-NQM2, Class A1B (a)	\n 4.38% \n	\n 01/25/62 \n	\n 1,831,604 \n
\n 1,414,045 \n	\n Series\n 2025-NQM13, Class A1 (a) (g)	\n 5.44% \n	\n 05/25/65 \n	\n 1,412,295 \n
\n 1,646,933 \n	\n Series\n 2025-NQM6, Class A1, steps up to 6.60% on \n 03/01/29\n (a) (j)	\n 5.60% \n	\n 03/25/65 \n	\n 1,647,744 \n

See\nNotes to Financial Statements

Page\n11

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Collateralized\n Mortgage Obligations (Continued)
\n	\n Onslow\n Bay Mortgage Loan Trust (Continued)	\n \n	\n \n	\n
\n $4,613,235 \n	\n Series\n 2026-INV1, Class AF, 30 Day Average SOFR +\n \n 1.35%\n (a) (c)	\n 4.97% \n	\n 02/25/56 \n	\n $4,573,153 \n
\n 6,788,632 \n	\n Series\n 2026-INV3, Class AF2, 30 Day Average SOFR +\n \n 1.35%\n (a) (c)	\n 4.97% \n	\n 04/25/56 \n	\n 6,791,101 \n
\n 2,959,322 \n	\n Series\n 2026-INV4, Class AF2, 30 Day Average SOFR +\n \n 1.45%\n (a) (c)	\n 5.07% \n	\n 05/25/56 \n	\n 2,965,474 \n
\n 14,083,765 \n	\n Series\n 2026-J1, Class AF, 30 Day Average SOFR +\n 1.35% (a) (c)	\n 4.97% \n	\n 02/25/56 \n	\n 14,102,826 \n
\n 4,600,000 \n	\n Series\n 2026-NQM4, Class A1LC, steps up to 6.23% on \n 03/01/30\n (a) (j)	\n 5.23% \n	\n 02/25/66 \n	\n 4,556,318 \n
\n	\n PMT\n Loan Trust	\n \n	\n \n	\n
\n 15,935,700 \n	\n Series\n 2025-CNF1, Class A35, 30 Day Average SOFR +\n \n 1.35%\n (a) (c)	\n 4.97% \n	\n 10/25/56 \n	\n 16,002,872 \n
\n 3,845,565 \n	\n Series\n 2025-CNF2, Class A26, 30 Day Average SOFR +\n \n 1.40%\n (a) (c)	\n 5.02% \n	\n 01/25/57 \n	\n 3,862,142 \n
\n 4,800,040 \n	\n Series\n 2025-INV9, Class A34, 30 Day Average SOFR +\n \n 1.30%\n (a) (c)	\n 4.92% \n	\n 09/01/56 \n	\n 4,812,260 \n
\n 1,951,690 \n	\n Series\n 2026-CNF3, Class A23, 30 Day Average SOFR +\n \n 1.45%\n (a) (c)	\n 5.07% \n	\n 04/25/57 \n	\n 1,952,381 \n
\n 2,928,372 \n	\n Series\n 2026-CNF4, Class A23, 30 Day Average SOFR +\n \n 1.35%\n (a) (c)	\n 4.97% \n	\n 05/25/57 \n	\n 2,933,387 \n
\n 9,481,341 \n	\n Series\n 2026-INV1, Class A36, 30 Day Average SOFR +\n \n 1.30%\n (a) (c)	\n 4.92% \n	\n 01/25/57 \n	\n 9,456,653 \n
\n 10,489,429 \n	\n Series\n 2026-INV2, Class A35, 30 Day Average SOFR +\n \n 1.15%\n (a) (c)	\n 4.77% \n	\n 01/25/57 \n	\n 10,416,094 \n
\n 4,812,074 \n	\n Series\n 2026-INV3, Class A36, 30 Day Average SOFR +\n \n 1.35%\n (a) (c)	\n 4.97% \n	\n 02/25/57 \n	\n 4,816,313 \n
\n 4,895,939 \n	\n Series\n 2026-INV5, Class A36, 30 Day Average SOFR +\n \n 1.30%\n (a) (c)	\n 4.92% \n	\n 05/25/57 \n	\n 4,898,773 \n
\n 4,445,595 \n	\n Series\n 2026-J1, Class A25, 30 Day Average SOFR +\n \n 1.15%\n (a) (c)	\n 4.77% \n	\n 01/25/57 \n	\n 4,420,422 \n
\n	\n PRKCM\n Trust	\n \n	\n \n	\n
\n 3,252,013 \n	\n Series\n 2022-AFC2, Class A1 (a)	\n 5.34% \n	\n 08/25/57 \n	\n 3,243,321 \n
\n 2,772,125 \n	\n Series\n 2025-AFC2, Class A1 (a) (g)	\n 5.02% \n	\n 12/25/60 \n	\n 2,742,440 \n
\n 1,748,634 \n	\n Series\n 2025-HOME1, Class A1A, steps up to 6.55% on \n 03/01/29\n (a) (j)	\n 5.55% \n	\n 02/25/60 \n	\n 1,749,817 \n
\n 742,520 \n	\n Series\n 2025-HOME1, Class A1B, steps up to 6.65% on \n 03/01/29\n (a) (j)	\n 5.65% \n	\n 02/25/60 \n	\n 742,827 \n
\n	\n PRPM\n LLC	\n \n	\n \n	\n
\n 1,614,777 \n	\n Series\n 2024-RCF1, Class A1, steps up to 5.00% on \n 01/25/28\n (a) (j)	\n 4.00% \n	\n 01/25/54 \n	\n 1,590,964 \n
\n 3,340,000 \n	\n Series\n 2024-RCF1, Class A2, steps up to 5.00% on \n 01/25/28\n (a) (j)	\n 4.00% \n	\n 01/25/54 \n	\n 3,272,917 \n
\n 2,934,000 \n	\n Series\n 2024-RCF1, Class A3, steps up to 5.00% on \n 01/25/28\n (a) (j)	\n 4.00% \n	\n 01/25/54 \n	\n 2,869,174 \n
\n 1,601,633 \n	\n Series\n 2024-RCF2, Class A1, steps up to 4.75% on \n 03/25/28\n (a) (j)	\n 3.75% \n	\n 03/25/54 \n	\n 1,568,606 \n
\n 2,900,000 \n	\n Series\n 2024-RCF2, Class A2, steps up to 4.75% on \n 03/25/28\n (a) (j)	\n 3.75% \n	\n 03/25/54 \n	\n 2,821,083 \n
\n 3,039,000 \n	\n Series\n 2024-RCF4, Class A2, steps up to 5.00% on \n 07/25/28\n (a) (j)	\n 4.00% \n	\n 07/25/54 \n	\n 2,956,647 \n

See\nNotes to Financial Statements

Page\n12

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Collateralized\n Mortgage Obligations (Continued)
\n	\n PRPM\n LLC (Continued)	\n \n	\n \n	\n
\n $2,096,000 \n	\n Series\n 2024-RCF5, Class A2, steps up to 5.00% on \n 08/25/28\n (a) (j)	\n 4.00% \n	\n 08/25/54 \n	\n $2,033,446 \n
\n 665,127 \n	\n Series\n 2024-RPL2, Class A1, steps up to 4.50% on \n 05/25/28\n (a) (j)	\n 3.50% \n	\n 05/25/54 \n	\n 648,341 \n
\n 218,671 \n	\n Series\n 2024-RPL3, Class A1, steps up to 5.00% on \n 11/25/28\n (a) (j)	\n 4.00% \n	\n 11/25/54 \n	\n 213,014 \n
\n 499,837 \n	\n Series\n 2024-RPL4, Class A1, steps up to 5.00% on \n 12/25/28\n (a) (j)	\n 4.00% \n	\n 12/25/54 \n	\n 486,449 \n
\n 1,160,207 \n	\n Series\n 2025-RCF4, Class A1, steps up to 5.50% on \n 08/01/29\n (a) (j)	\n 4.50% \n	\n 08/25/55 \n	\n 1,136,515 \n
\n 1,255,246 \n	\n Series\n 2025-RCF5, Class A1, steps up to 5.84% on \n 10/01/29\n (a) (j)	\n 4.84% \n	\n 10/25/55 \n	\n 1,248,397 \n
\n 3,325,007 \n	\n Series\n 2025-RCF6, Class A1, steps up to 5.94% on \n 12/01/29\n (a) (j)	\n 4.94% \n	\n 12/25/55 \n	\n 3,274,451 \n
\n 1,128,656 \n	\n Series\n 2025-RPL3, Class A1, steps up to 4.25% on \n 04/01/28\n (a) (j)	\n 3.25% \n	\n 04/25/55 \n	\n 1,092,170 \n
\n 1,897,565 \n	\n Series\n 2025-RPL4, Class A1, steps up to 4.00% on \n 05/01/29\n (a) (j)	\n 3.00% \n	\n 05/25/55 \n	\n 1,798,263 \n
\n 4,265,434 \n	\n Series\n 2026-RCF4, Class A1, steps up to 6.25% on \n 06/01/30\n (a) (j)	\n 5.25% \n	\n 06/25/56 \n	\n 4,234,787 \n
\n	\n PRPM\n Trust	\n \n	\n \n	\n
\n 519,850 \n	\n Series\n 2023-NQM3, Class A1, steps up to 7.22% on \n 01/01/28\n (a) (j)	\n 6.22% \n	\n 11/25/68 \n	\n 520,704 \n
\n 2,191,366 \n	\n Series\n 2025-NQM2, Class A1, steps up to 6.69% on \n 05/01/29\n (a) (j)	\n 5.69% \n	\n 04/25/70 \n	\n 2,198,633 \n
\n 2,071,251 \n	\n Series\n 2025-NQM3, Class A1 (a) (g)	\n 0.00% \n	\n 05/25/70 \n	\n 2,068,496 \n
\n 4,180,421 \n	\n Series\n 2025-NQM6, Class A1 (a) (g)	\n 4.99% \n	\n 12/25/70 \n	\n 4,127,579 \n
\n 5,776,132 \n	\n Series\n 2026-NQM1, Class A1 (a) (g)	\n 5.13% \n	\n 02/25/71 \n	\n 5,716,236 \n
\n 1,666,650 \n	\n Series\n 2026-NQM2, Class A1LC, steps up to 6.26% on \n 05/01/30\n (a) (j)	\n 5.26% \n	\n 04/25/71 \n	\n 1,634,472 \n
\n 2,200,000 \n	\n Series\n 2026-R1, Class A1 (a) (g)	\n 5.00% \n	\n 01/25/68 \n	\n 2,166,247 \n
\n 10,282,270 \n	\n Series\n 2026-RCF1, Class A1, steps up to 5.85% on \n 01/01/30\n (a) (j)	\n 4.85% \n	\n 01/25/56 \n	\n 10,139,863 \n
\n	\n Rate\n Mortgage Trust	\n \n	\n \n	\n
\n 7,985,856 \n	\n Series\n 2025-J3, Class A27, 30 Day Average SOFR +\n \n 1.55%\n (a) (c)	\n 5.17% \n	\n 11/25/55 \n	\n 8,015,200 \n
\n	\n RUN\n Trust	\n \n	\n \n	\n
\n 3,448,592 \n	\n Series\n 2022-NQM1, Class A1 (a)	\n 5.00% \n	\n 03/25/67 \n	\n 3,386,324 \n
\n	\n Santander\n Mortgage Asset Receivable Trust	\n \n	\n \n	\n
\n 2,685,806 \n	\n Series\n 2025-NQM2, Class A1 (a)	\n 5.73% \n	\n 02/25/65 \n	\n 2,690,343 \n
\n 2,115,000 \n	\n Series\n 2026-NQM3, Class A1LC, steps up to 6.23% on \n 03/01/30\n (a) (j)	\n 5.23% \n	\n 03/25/66 \n	\n 2,075,257 \n
\n	\n Sequoia\n Mortgage Trust	\n \n	\n \n	\n
\n 4,333,374 \n	\n Series\n 2026-HYB1, Class A1B (a)	\n 4.67% \n	\n 04/25/56 \n	\n 4,208,200 \n
\n 5,737,354 \n	\n Series\n 2026-INV2, Class A26F, 30 Day Average SOFR +\n \n 1.50%\n (a) (c)	\n 5.12% \n	\n 04/25/56 \n	\n 5,739,105 \n
\n	\n Starwood\n Mortgage Residential Trust	\n \n	\n \n	\n
\n 1,980,048 \n	\n Series\n 2022-3, Class A1 (a)	\n 5.16% \n	\n 03/25/67 \n	\n 1,945,708 \n

See\nNotes to Financial Statements

Page\n13

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Collateralized\n Mortgage Obligations (Continued)
\n	\n Towd\n Point Mortgage Trust	\n \n	\n \n	\n
\n $1,321,666 \n	\n Series\n 2019-HY2, Class A1, 1 Mo. CME Term SOFR +\n CSA +\n \n 1.00%\n (a) (c)	\n 4.84% \n	\n 05/25/58 \n	\n $1,339,467 \n
\n 1,912,766 \n	\n Series\n 2022-1, Class A1 (a)	\n 3.75% \n	\n 07/25/62 \n	\n 1,790,369 \n
\n 2,407,913 \n	\n Series\n 2022-2, Class A1 (a)	\n 3.75% \n	\n 07/01/62 \n	\n 2,236,235 \n
\n 3,286,439 \n	\n Series\n 2022-3, Class A1 (a)	\n 3.75% \n	\n 08/01/62 \n	\n 3,065,503 \n
\n	\n TRK\n Trust	\n \n	\n \n	\n
\n 2,529,286 \n	\n Series\n 2021-INV1, Class A1 (a)	\n 1.15% \n	\n 07/25/56 \n	\n 2,281,282 \n
\n 1,981,124 \n	\n Series\n 2022-INV1, Class A1 (a)	\n 2.58% \n	\n 02/25/57 \n	\n 1,844,044 \n
\n 2,036,401 \n	\n Series\n 2022-INV2, Class A2 (a) (b)	\n 4.33% \n	\n 06/25/57 \n	\n 1,935,387 \n
\n	\n Verus\n Securitization Trust	\n \n	\n \n	\n
\n 2,511,246 \n	\n Series\n 2022-1, Class A1 (a)	\n 3.72% \n	\n 01/25/67 \n	\n 2,344,575 \n
\n 2,191,748 \n	\n Series\n 2022-2, Class A1 (a)	\n 4.26% \n	\n 02/25/67 \n	\n 2,087,193 \n
\n 2,000,000 \n	\n Series\n 2026-R6, Class A1LC, steps up to 6.77% on \n 07/01/30\n (a) (j)	\n 5.77% \n	\n 07/25/68 \n	\n 2,002,074 \n
\n	\n Vista\n Point Securitization Trust	\n \n	\n \n	\n
\n 1,013,085 \n	\n Series\n 2020-1, Class M1 (a)	\n 4.15% \n	\n 03/25/65 \n	\n 1,009,236 \n
\n	\n Wells\n Fargo Mortgage Backed Securities Trust	\n \n	\n \n	\n
\n 2,061,019 \n	\n Series\n 2018-1, Class B1 (a) (b)	\n 3.64% \n	\n 07/25/47 \n	\n 1,923,487 \n
\n 112,612 \n	\n Series\n 2019-1, Class A1 (a)	\n 3.91% \n	\n 11/25/48 \n	\n 103,596 \n
\n	\n \n	\n 379,779,471 \n
\n	\n Commercial\n Mortgage-Backed Securities — 5.2%
\n	\n 2023-MIC\n Trust (The)	\n \n	\n \n	\n
\n 2,330,000 \n	\n Series\n 2023-MIC, Class A (a) (b)	\n 8.44% \n	\n 12/05/38 \n	\n 2,445,265 \n
\n	\n Arbor\n Multifamily Mortgage Securities Trust	\n \n	\n \n	\n
\n 6,000,000 \n	\n Series\n 2020-MF1, Class A4 (a)	\n 2.50% \n	\n 05/15/53 \n	\n 5,543,783 \n
\n 125,000 \n	\n Series\n 2020-MF1, Class AS (a)	\n 3.06% \n	\n 05/15/53 \n	\n 115,854 \n
\n 3,118,057 \n	\n Series\n 2020-MF1, Class XA, IO (a) (b)	\n 0.92% \n	\n 05/15/53 \n	\n 85,272 \n
\n 1,860,000 \n	\n Series\n 2021-MF2, Class A4 (a)	\n 2.25% \n	\n 06/15/54 \n	\n 1,647,968 \n
\n	\n BANK \n	\n \n	\n \n	\n
\n 28,314,332 \n	\n Series\n 2019-BN19, Class XA, IO (b)	\n 0.93% \n	\n 08/15/61 \n	\n 642,730 \n
\n 325,000 \n	\n Series\n 2020-BN26, Class A3	\n 2.16% \n	\n 03/15/63 \n	\n 298,381 \n
\n 4,759,054 \n	\n Series\n 2020-BN26, Class XA, IO (b)	\n 1.19% \n	\n 03/15/63 \n	\n 143,931 \n
\n 1,486,830 \n	\n Series\n 2020-BN29, Class A4	\n 2.00% \n	\n 11/15/53 \n	\n 1,303,337 \n
\n 6,499,579 \n	\n Series\n 2020-BN29, Class XA, IO (b)	\n 1.29% \n	\n 11/15/53 \n	\n 287,438 \n
\n 53,320,633 \n	\n Series\n 2025-BNK49, Class XA, IO (b)	\n 0.62% \n	\n 03/15/58 \n	\n 2,336,148 \n
\n	\n BBCMS\n Mortgage Trust	\n \n	\n \n	\n
\n 3,772,000 \n	\n Series\n 2018-TALL, Class A, 1 Mo. CME Term SOFR +\n CSA +\n \n 0.87%\n (a) (c)	\n 4.60% \n	\n 03/15/37 \n	\n 3,570,723 \n
\n 2,800,000 \n	\n Series\n 2020-C8, Class A5	\n 2.04% \n	\n 10/15/53 \n	\n 2,480,742 \n
\n 51,767,688 \n	\n Series\n 2025-C35, Class XA, IO (b)	\n 0.65% \n	\n 07/15/58 \n	\n 2,444,874 \n
\n	\n Benchmark\n Mortgage Trust	\n \n	\n \n	\n
\n 8,575,093 \n	\n Series\n 2020-B21, Class XA, IO (b)	\n 1.40% \n	\n 12/17/53 \n	\n 398,250 \n
\n 2,700,000 \n	\n Series\n 2021-INV1, Class A4	\n 2.27% \n	\n 04/15/54 \n	\n 2,443,955 \n
\n	\n BMO\n Mortgage Trust	\n \n	\n \n	\n
\n 115,000 \n	\n Series\n 2023-C6, Class ASB	\n 6.21% \n	\n 09/15/56 \n	\n 119,640 \n
\n 5,823,819 \n	\n Series\n 2024-5C3, Class XA, IO (b)	\n 1.12% \n	\n 02/15/57 \n	\n 132,847 \n
\n 665,000 \n	\n Series\n 2025-C11, Class ASB	\n 5.68% \n	\n 02/15/58 \n	\n 683,231 \n
\n 3,091,000 \n	\n Series\n 2025-C12, Class ASB	\n 5.76% \n	\n 06/15/58 \n	\n 3,179,377 \n
\n 35,982,586 \n	\n Series\n 2025-C13, Class XA, IO (b)	\n 1.01% \n	\n 10/15/58 \n	\n 2,624,372 \n

See\nNotes to Financial Statements

Page\n14

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Commercial\n Mortgage-Backed Securities (Continued)
\n	\n BOCA\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n $1,350,000 \n	\n Series\n 2025-BOCA, Class A, 1 Mo. CME Term SOFR +\n \n 1.60%\n (a) (c)	\n 5.28% \n	\n 12/15/42 \n	\n $1,354,543 \n
\n	\n BSTN\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 1,749,000 \n	\n Series\n 2025-1C, Class A (a) (b)	\n 5.37% \n	\n 06/15/44 \n	\n 1,754,188 \n
\n	\n BWAY\n Trust	\n \n	\n \n	\n
\n 2,190,000 \n	\n Series\n 2025-1535, Class A (a) (b)	\n 6.31% \n	\n 05/05/42 \n	\n 2,197,949 \n
\n 765,000 \n	\n Series\n 2025-1535, Class B (a) (b)	\n 7.46% \n	\n 05/05/42 \n	\n 787,423 \n
\n	\n BX\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 3,081,000 \n	\n Series\n 2020-VIV4, Class A (a)	\n 2.84% \n	\n 03/09/44 \n	\n 2,837,683 \n
\n 1,215,000 \n	\n Series\n 2026-CSMO, Class A, 1 Mo. CME Term SOFR +\n \n 1.40%\n (a) (c)	\n 5.08% \n	\n 02/15/43 \n	\n 1,220,034 \n
\n 2,940,000 \n	\n Series\n 2026-VLT10, Class A (a) (b)	\n 5.36% \n	\n 07/13/58 \n	\n 2,794,121 \n
\n	\n BX\n Trust	\n \n	\n \n	\n
\n 1,500,000 \n	\n Series\n 2025-ARIA, Class A (a) (b)	\n 5.03% \n	\n 12/13/42 \n	\n 1,491,333 \n
\n 4,000,000 \n	\n Series\n 2025-DELC, Class A, 1 Mo. CME Term SOFR +\n \n 1.55%\n (a) (c)	\n 5.23% \n	\n 12/15/42 \n	\n 4,015,721 \n
\n 2,000,000 \n	\n Series\n 2025-GW, Class A, 1 Mo. CME Term SOFR +\n \n 1.60%\n (a) (c)	\n 5.28% \n	\n 07/15/42 \n	\n 2,008,912 \n
\n 2,438,000 \n	\n Series\n 2025-VOLT, Class A, 1 Mo. CME Term SOFR +\n \n 1.70%\n (a) (c)	\n 5.38% \n	\n 12/15/44 \n	\n 2,436,044 \n
\n	\n Cantor\n Commercial Real Estate Lending	\n \n	\n \n	\n
\n 1,449,072 \n	\n Series\n 2019-CF1, Class A2	\n 3.62% \n	\n 05/15/52 \n	\n 1,427,851 \n
\n	\n CHI\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 2,230,000 \n	\n Series\n 2025-SFT, Class A (a) (b)	\n 5.48% \n	\n 04/15/42 \n	\n 2,237,296 \n
\n 62,200,000 \n	\n Series\n 2025-SFT, Class XA, IO (a) (b)	\n 0.30% \n	\n 04/15/42 \n	\n 464,622 \n
\n	\n Citigroup\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 573,971 \n	\n Series\n 2018-C5, Class A3	\n 3.96% \n	\n 06/10/51 \n	\n 565,490 \n
\n 521,987 \n	\n Series\n 2019-GC43, Class AAB	\n 2.96% \n	\n 11/10/52 \n	\n 506,781 \n
\n 1,310,000 \n	\n Series\n 2020-420K, Class A (a)	\n 2.46% \n	\n 11/10/42 \n	\n 1,170,970 \n
\n	\n COMM\n Mortgage Trust	\n \n	\n \n	\n
\n 7,850,000 \n	\n Series\n 2024-277P, Class X, IO (a) (b)	\n 0.66% \n	\n 08/10/44 \n	\n 154,399 \n
\n	\n CONE\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 1,280,000 \n	\n Series\n 2026-ACD6, Class A (a)	\n 6.06% \n	\n 07/15/43 \n	\n 1,271,728 \n
\n 2,500,000 \n	\n Series\n 2026-DFW3, Class A (a) (b)	\n 5.57% \n	\n 05/15/43 \n	\n 2,475,141 \n
\n	\n Deutsche\n Bank Commercial Mortgage Trust	\n \n	\n \n	\n
\n 400,000 \n	\n Series\n 2020-C9, Class A5	\n 1.93% \n	\n 08/15/53 \n	\n 355,837 \n
\n	\n Fashion\n Show Mall LLC	\n \n	\n \n	\n
\n 1,400,000 \n	\n Series\n 2024-SHOW, Class A (a) (b)	\n 5.10% \n	\n 10/10/41 \n	\n 1,397,634 \n
\n	\n FREMF\n Mortgage Trust	\n \n	\n \n	\n
\n 318,625,404 \n	\n Series\n 2018-K156, Class X2A, IO (a)	\n 0.10% \n	\n 07/25/36 \n	\n 1,400,167 \n
\n 997,918,480 \n	\n Series\n 2020-K117, Class X2A, IO (a)	\n 0.10% \n	\n 10/25/53 \n	\n 3,116,599 \n
\n	\n FS \n	\n \n	\n \n	\n
\n 2,600,000 \n	\n Series\n 2026-ORL, Class A, 1 Mo. CME Term SOFR +\n \n 1.35%\n (a) (c)	\n 5.03% \n	\n 02/15/41 \n	\n 2,605,937 \n
\n	\n GGP\n Trust	\n \n	\n \n	\n
\n 4,243,630 \n	\n Series\n 2026-2PAK, Class A (b)	\n 5.83% \n	\n 05/10/43 \n	\n 4,222,897 \n
\n	\n GS\n Mortgage Securities Trust	\n \n	\n \n	\n
\n 25,711 \n	\n Series\n 2017-GS5, Class AAB	\n 3.47% \n	\n 03/10/50 \n	\n 25,675 \n

See\nNotes to Financial Statements

Page\n15

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Commercial\n Mortgage-Backed Securities (Continued)
\n	\n GS\n Mortgage Securities Trust (Continued)	\n \n	\n \n	\n
\n $1,743,188 \n	\n Series\n 2019-GC39, Class XA, IO (b)	\n 1.07% \n	\n 05/10/52 \n	\n $42,796 \n
\n 975,000 \n	\n Series\n 2024-FAIR, Class A (a) (b)	\n 5.88% \n	\n 07/15/29 \n	\n 969,216 \n
\n	\n Hilton\n USA Trust	\n \n	\n \n	\n
\n 1,395,000 \n	\n Series\n 2016-HHV, Class A (a)	\n 3.72% \n	\n 11/05/38 \n	\n 1,391,539 \n
\n 1,700,000 \n	\n Series\n 2025-NVIL, Class A, 1 Mo. CME Term SOFR +\n \n 1.74%\n (a) (c)	\n 5.42% \n	\n 07/15/42 \n	\n 1,706,766 \n
\n	\n Houston\n Galleria Mall Trust	\n \n	\n \n	\n
\n 3,845,000 \n	\n Series\n 2025-HGLR, Class A (a) (b)	\n 5.46% \n	\n 02/05/45 \n	\n 3,857,621 \n
\n	\n INT\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 1,500,000 \n	\n Series\n 2025-PLAZA, Class A (a) (b)	\n 4.88% \n	\n 11/05/37 \n	\n 1,483,079 \n
\n	\n JP\n Morgan Chase Commercial Mortgage Securities Trust	\n \n	\n \n	\n
\n 3,085,000 \n	\n Series\n 2025-PHNY, Class A, 1 Mo. CME Term SOFR +\n \n 1.64%\n (a) (c)	\n 5.32% \n	\n 01/15/41 \n	\n 3,094,652 \n
\n	\n JW\n Trust	\n \n	\n \n	\n
\n 1,240,000 \n	\n Series\n 2024-BERY, Class A, 1 Mo. CME Term SOFR +\n \n 1.59%\n (a) (c)	\n 5.27% \n	\n 11/15/39 \n	\n 1,242,984 \n
\n	\n KRE\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 3,330,250 \n	\n Series\n 2026-ICNA, Class A, 1 Mo. CME Term SOFR +\n \n 1.85%\n (a) (c)	\n 5.53% \n	\n 05/15/43 \n	\n 3,340,598 \n
\n	\n Manhattan\n West Mortgage Trust	\n \n	\n \n	\n
\n 2,315,000 \n	\n Series\n 2026-2MW, Class A (a) (b)	\n 5.32% \n	\n 06/10/48 \n	\n 2,288,875 \n
\n	\n Morgan\n Stanley Capital I Trust	\n \n	\n \n	\n
\n 5,576,008 \n	\n Series\n 2019-L2, Class XA, IO (b)	\n 0.99% \n	\n 03/15/52 \n	\n 114,901 \n
\n	\n MSWF\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 40,283,134 \n	\n Series\n 2023-1, Class XA, IO (b)	\n 0.86% \n	\n 05/15/56 \n	\n 1,789,204 \n
\n	\n NRTH\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 1,313,500 \n	\n Series\n 2025-PARK, Class A, 1 Mo. CME Term SOFR +\n \n 1.39%\n (a) (c)	\n 5.07% \n	\n 10/15/40 \n	\n 1,318,427 \n
\n	\n NY\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 1,520,000 \n	\n Series\n 2025-299P, Class A (a) (b)	\n 5.66% \n	\n 02/10/47 \n	\n 1,546,845 \n
\n	\n NYO\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 3,100,000 \n	\n Series\n 2021-1290, Class A, 1 Mo. CME Term SOFR +\n CSA +\n \n 1.10%\n (a) (c)	\n 4.89% \n	\n 11/15/38 \n	\n 3,102,390 \n
\n	\n One\n New York Plaza Trust	\n \n	\n \n	\n
\n 2,359,771 \n	\n Series\n 2020-1NYP, Class A, 1 Mo. CME Term SOFR +\n CSA +\n \n 0.95%\n (a) (c)	\n 4.74% \n	\n 01/15/36 \n	\n 2,299,523 \n
\n	\n SFO\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 3,288,100 \n	\n Series\n 2021-555, Class A, 1 Mo. CME Term SOFR +\n CSA +\n \n 1.40%\n (a) (c)	\n 5.19% \n	\n 05/15/38 \n	\n 3,287,631 \n
\n	\n SHOPS\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 2,700,000 \n	\n Series\n 2026-CSTL, Class A (a) (b)	\n 4.81% \n	\n 05/05/39 \n	\n 2,657,755 \n
\n	\n SKY\n Trust	\n \n	\n \n	\n
\n 3,655,650 \n	\n Series\n 2025-LINE, Class A, 1 Mo. CME Term SOFR +\n \n 2.59%\n (a) (c)	\n 6.26% \n	\n 04/15/42 \n	\n 3,679,140 \n
\n	\n SWCH\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 2,745,000 \n	\n Series\n 2025-DATA, Class A, 1 Mo. CME Term SOFR +\n \n 1.44%\n (a) (c)	\n 5.12% \n	\n 02/15/42 \n	\n 2,728,111 \n
\n	\n UBS\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 21,945,204 \n	\n Series\n 2019-C17, Class XA, IO (b)	\n 1.44% \n	\n 10/15/52 \n	\n 794,697 \n

See\nNotes to Financial Statements

Page\n16

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Commercial\n Mortgage-Backed Securities (Continued)
\n	\n Wells\n Fargo Commercial Mortgage Trust	\n \n	\n \n	\n
\n $12,327,668 \n	\n Series\n 2017-C41, Class XA, IO (b)	\n 1.14% \n	\n 11/15/50 \n	\n $111,445 \n
\n 2,737,274 \n	\n Series\n 2018-C47, Class AS	\n 4.67% \n	\n 09/15/61 \n	\n 2,690,282 \n
\n 22,809,009 \n	\n Series\n 2019-C49, Class XA, IO (b)	\n 1.21% \n	\n 03/15/52 \n	\n 575,423 \n
\n 420,196 \n	\n Series\n 2020-C58, Class A3	\n 1.81% \n	\n 07/15/53 \n	\n 375,969 \n
\n 2,950,000 \n	\n Series\n 2022-C62, Class A4	\n 4.00% \n	\n 04/15/55 \n	\n 2,763,326 \n
\n 2,549,723 \n	\n Series\n 2025-B33RP, Class A, 1 Mo. CME Term SOFR +\n \n 1.35%\n (a) (c)	\n 5.03% \n	\n 08/15/42 \n	\n 2,552,813 \n
\n	\n WHARF\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 2,175,000 \n	\n Series\n 2025-DC, Class A (a) (b)	\n 5.35% \n	\n 07/15/40 \n	\n 2,189,404 \n
\n	\n \n	\n 133,220,505 \n
\n	\n Total\n Mortgage-Backed Securities	\n 512,999,976 \n
\n	\n (Cost\n $514,019,086)	\n
\n U.S.\n GOVERNMENT BONDS AND NOTES — 17.1%
\n 1,136,000 \n	\n U.S.\n Treasury Bond\n	\n 3.25% \n	\n 05/15/42 \n	\n 900,191 \n
\n 5,600,000 \n	\n U.S.\n Treasury Bond\n	\n 5.00% \n	\n 05/15/46 \n	\n 5,417,563 \n
\n 4,000,000 \n	\n U.S.\n Treasury Bond\n	\n 2.25% \n	\n 08/15/46 \n	\n 2,489,922 \n
\n 12,800,000 \n	\n U.S.\n Treasury Bond\n	\n 2.25% \n	\n 08/15/49 \n	\n 7,563,000 \n
\n 17,300,000 \n	\n U.S.\n Treasury Bond\n	\n 1.25% \n	\n 05/15/50 \n	\n 7,782,635 \n
\n 13,900,000 \n	\n U.S.\n Treasury Bond\n	\n 1.63% \n	\n 11/15/50 \n	\n 6,879,686 \n
\n 3,100,000 \n	\n U.S.\n Treasury Bond\n	\n 4.25% \n	\n 02/15/54 \n	\n 2,632,699 \n
\n 3,100,000 \n	\n U.S.\n Treasury Bond\n	\n 4.63% \n	\n 05/15/54 \n	\n 2,804,168 \n
\n 8,200,000 \n	\n U.S.\n Treasury Bond\n	\n 5.00% \n	\n 05/15/56 \n	\n 7,888,016 \n
\n 24,500,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 11/15/33 \n	\n 17,507,173 \n
\n 9,800,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 02/15/34 \n	\n 6,914,340 \n
\n 15,100,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 05/15/34 \n	\n 10,520,690 \n
\n 24,800,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 08/15/34 \n	\n 17,064,115 \n
\n 30,455,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 11/15/34 \n	\n 20,672,227 \n
\n 21,100,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 02/15/35 \n	\n 14,137,076 \n
\n 21,500,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 05/15/35 \n	\n 14,219,584 \n
\n 22,750,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 08/15/35 \n	\n 14,848,579 \n
\n 10,500,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 11/15/35 \n	\n 6,758,120 \n
\n 4,280,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 02/15/36 \n	\n 2,719,796 \n
\n 16,100,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 05/15/36 \n	\n 10,102,131 \n
\n 18,600,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 08/15/36 \n	\n 11,491,972 \n
\n 4,000,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 11/15/36 \n	\n 2,434,210 \n
\n 6,500,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 02/15/37 \n	\n 3,897,680 \n
\n 11,700,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 05/15/37 \n	\n 6,921,422 \n
\n 27,400,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 05/15/38 \n	\n 15,258,439 \n
\n 30,000,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 02/15/39 \n	\n 15,983,076 \n
\n 30,575,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 05/15/39 \n	\n 16,036,159 \n
\n 32,113,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 08/15/39 \n	\n 16,574,768 \n
\n 10,000,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 11/15/39 \n	\n 5,083,363 \n
\n 25,700,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 02/15/40 \n	\n 12,849,320 \n
\n 27,071,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 05/15/40 \n	\n 13,320,412 \n
\n 11,000,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 08/15/40 \n	\n 5,319,218 \n
\n 8,000,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 11/15/40 \n	\n 3,804,024 \n
\n 1,000,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 02/15/41 \n	\n 467,398 \n
\n 14,600,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 11/15/41 \n	\n 6,505,444 \n
\n 7,000,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 08/15/42 \n	\n 3,023,001 \n

See\nNotes to Financial Statements

Page\n17

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n U.S.\n GOVERNMENT BONDS AND NOTES (Continued)
\n $8,000,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 11/15/42 \n	\n $3,402,218 \n
\n 2,000,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 11/15/43 \n	\n 783,856 \n
\n 2,100,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 08/15/44 \n	\n 786,644 \n
\n 1,900,000 \n	\n U.S.\n Treasury Bond, STRIPS\n	\n (e) \n	\n 11/15/44 \n	\n 701,235 \n
\n 11,866,800 \n	\n U.S.\n Treasury Inflation Indexed Bond\n	\n 0.13% \n	\n 04/15/27 \n	\n 11,607,578 \n
\n 13,126,800 \n	\n U.S.\n Treasury Inflation Indexed Bond\n	\n 2.38% \n	\n 10/15/28 \n	\n 13,207,495 \n
\n 5,849,496 \n	\n U.S.\n Treasury Inflation Indexed Bond\n	\n 2.13% \n	\n 04/15/29 \n	\n 5,833,266 \n
\n 6,016,290 \n	\n U.S.\n Treasury Inflation Indexed Bond\n	\n 1.63% \n	\n 10/15/29 \n	\n 5,939,982 \n
\n 6,315,240 \n	\n U.S.\n Treasury Inflation Indexed Bond\n	\n 1.63% \n	\n 04/15/30 \n	\n 6,195,479 \n
\n 6,214,920 \n	\n U.S.\n Treasury Inflation Indexed Bond\n	\n 1.13% \n	\n 10/15/30 \n	\n 5,989,022 \n
\n 7,250,638 \n	\n U.S.\n Treasury Inflation Indexed Bond\n	\n 0.13% \n	\n 07/15/31 \n	\n 6,602,844 \n
\n 6,768,720 \n	\n U.S.\n Treasury Inflation Indexed Bond\n	\n 0.13% \n	\n 01/15/32 \n	\n 6,073,938 \n
\n 5,000,000 \n	\n U.S.\n Treasury Note (k)	\n 3.50% \n	\n 03/15/29 \n	\n 4,899,609 \n
\n 10,000,000 \n	\n U.S.\n Treasury Note (k)	\n 3.88% \n	\n 05/15/29 \n	\n 9,882,813 \n
\n 34,900,000 \n	\n U.S.\n Treasury Note (k)	\n 4.13% \n	\n 06/15/29 \n	\n 34,711,867 \n
\n 1,000,000 \n	\n U.S.\n Treasury Note\n	\n 4.00% \n	\n 06/30/32 \n	\n 974,727 \n
\n	\n Total\n U.S. Government Bonds and Notes	\n 436,384,190 \n
\n	\n (Cost\n $452,731,917)	\n
\n ASSET-BACKED\n SECURITIES — 6.3%
\n	\n AGL\n CLO 32 Ltd.
\n 400,000 \n	\n Series\n 2024-32A, Class A1, 3 Mo. CME Term SOFR +\n \n 1.38%\n (a) (c)	\n 5.11% \n	\n 07/21/37 \n	\n 400,149 \n
\n	\n AIMCO\n CLO 17 Ltd.
\n 590,000 \n	\n Series\n 2022-17A, Class A1R, 3 Mo. CME Term SOFR +\n \n 1.35%\n (a) (c)	\n 5.08% \n	\n 07/20/37 \n	\n 590,976 \n
\n	\n Allegro\n CLO X Ltd.
\n 300,000 \n	\n Series\n 2019-1A, Class BRR, 3 Mo. CME Term SOFR +\n \n 1.60%\n (a) (c)	\n 5.33% \n	\n 04/20/32 \n	\n 300,000 \n
\n	\n American\n Heritage Auto Receivables Trust
\n 640,000 \n	\n Series\n 2024-1A, Class A3 (a)	\n 4.90% \n	\n 09/17/29 \n	\n 642,316 \n
\n	\n Aquarian\n CLO 1 Ltd.
\n 4,000,000 \n	\n Series\n 2026-1A, Class A1, 3 Mo. CME Term SOFR +\n \n 1.30%\n (a) (c)	\n 5.15% \n	\n 07/20/39 \n	\n 3,992,794 \n
\n	\n Battalion\n CLO XXIV Ltd.
\n 2,000,000 \n	\n Series\n 2022-24A, Class AR, 3 Mo. CME Term SOFR +\n \n 1.33%\n (a) (c)	\n 5.07% \n	\n 07/14/36 \n	\n 2,000,000 \n
\n	\n BlueMountain\n CLO Ltd.
\n 500,000 \n	\n Series\n 2018-3A, Class A2R, 3 Mo. CME Term SOFR +\n \n 1.60%\n (a) (c)	\n 5.41% \n	\n 10/25/30 \n	\n 500,303 \n
\n	\n Bridge\n Street CLO IV Ltd.
\n 3,000,000 \n	\n Series\n 2024-1A, Class A1R, 3 Mo. CME Term SOFR +\n \n 1.29%\n (a) (c)	\n 4.93% \n	\n 04/20/39 \n	\n 2,998,445 \n
\n	\n Capital\n Street Master Trust
\n 2,500,000 \n	\n Series\n 2025-1, Class A, 30 Day Average SOFR +\n 1.10% (a) (c)	\n 4.72% \n	\n 08/16/29 \n	\n 2,500,140 \n
\n	\n CARLYLE\n US CLO Ltd.
\n 950,000 \n	\n Series\n 2019-1A, Class A1B2, 3 Mo. CME Term SOFR +\n \n 1.30%\n (a) (c)	\n 5.03% \n	\n 04/20/31 \n	\n 951,019 \n
\n 2,000,000 \n	\n Series\n 2021-11A, Class A1R2, 3 Mo. CME Term SOFR +\n \n 1.26%\n (a) (c)	\n 5.04% \n	\n 07/25/39 \n	\n 2,001,996 \n
\n	\n Cbam\n Ltd.
\n 1,495,000 \n	\n Series\n 2019-1A, Class B1, 3 Mo. CME Term SOFR +\n CSA +\n \n 1.60%\n (a) (c)	\n 5.59% \n	\n 07/20/31 \n	\n 1,500,224 \n

See\nNotes to Financial Statements

Page\n18

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n ASSET-BACKED\n SECURITIES (Continued)
\n	\n Cedar\n Funding X CLO Ltd.
\n $1,000,000 \n	\n Series\n 2019-1A, Class AR2, 3 Mo. CME Term SOFR +\n \n 1.36%\n (a) (c)	\n 5.09% \n	\n 10/20/37 \n	\n $1,001,709 \n
\n	\n Chase\n Auto Owner Trust
\n 310,900 \n	\n Series\n 2022-AA, Class A4 (a)	\n 3.99% \n	\n 03/27/28 \n	\n 310,838 \n
\n 95,000 \n	\n Series\n 2024-1A, Class A4 (a)	\n 5.05% \n	\n 10/25/29 \n	\n 95,724 \n
\n	\n CoreVest\n American Finance Trust
\n 131,479 \n	\n Series\n 2019-3, Class A (a)	\n 2.71% \n	\n 10/15/52 \n	\n 131,236 \n
\n 151,119 \n	\n Series\n 2020-1, Class A2 (a)	\n 2.30% \n	\n 03/15/50 \n	\n 142,763 \n
\n 349,224 \n	\n Series\n 2020-2, Class B (a)	\n 4.24% \n	\n 05/15/52 \n	\n 347,882 \n
\n 564,488 \n	\n Series\n 2021-1, Class A (a)	\n 1.57% \n	\n 04/15/53 \n	\n 555,118 \n
\n 1,566,879 \n	\n Series\n 2021-2, Class A (a)	\n 1.41% \n	\n 07/15/54 \n	\n 1,517,079 \n
\n	\n CTM\n CLO Ltd.
\n 6,000,000 \n	\n Series\n 2025-2A, Class A1, 3 Mo. CME Term SOFR +\n \n 1.32%\n (a) (c)	\n 5.05% \n	\n 10/20/38 \n	\n 6,011,277 \n
\n	\n Elmwood\n CLO X Ltd.
\n 2,000,000 \n	\n Series\n 2021-3A, Class AR2, 3 Mo. CME Term SOFR +\n \n 1.30%\n (a) (c)	\n 5.03% \n	\n 07/20/38 \n	\n 2,003,690 \n
\n	\n Empower\n CLO Ltd.
\n 2,000,000 \n	\n Series\n 2023-3A, Class AR, 3 Mo. CME Term SOFR +\n \n 1.24%\n (a) (c)	\n 4.97% \n	\n 01/20/39 \n	\n 2,001,913 \n
\n	\n FIGRE\n Trust
\n 1,339,332 \n	\n Series\n 2026-FL1, Class A1FC, steps up to 6.49% on \n 03/01/30\n (a) (j)	\n 5.49% \n	\n 03/25/56 \n	\n 1,336,257 \n
\n 2,000,000 \n	\n Series\n 2026-FL1, Class A1LC, steps up to 6.49% on \n 03/01/30\n (a) (j)	\n 5.49% \n	\n 03/25/56 \n	\n 1,980,268 \n
\n 4,121,202 \n	\n Series\n 2026-FL2, Class A1LC, steps up to 6.52% on \n 06/01/30\n (a) (j)	\n 5.52% \n	\n 06/25/56 \n	\n 4,085,221 \n
\n 10,072,162 \n	\n Series\n 2026-HF3, Class A1A, 30 Day Average SOFR +\n \n 1.40%\n (a) (c)	\n 5.02% \n	\n 03/25/56 \n	\n 10,104,497 \n
\n	\n FNA\n VI LLC
\n 451,217 \n	\n Series\n 2021-1A, Class A (a)	\n 1.35% \n	\n 01/10/32 \n	\n 425,922 \n
\n	\n Fortress\n Credit BSL IX Ltd.
\n 2,148,000 \n	\n Series\n 2020-1A, Class A2R, 3 Mo. CME Term SOFR +\n \n 1.40%\n (a) (c)	\n 5.13% \n	\n 10/20/33 \n	\n 2,149,077 \n
\n	\n Fortress\n Credit BSL XI Ltd.
\n 4,000,000 \n	\n Series\n 2021-3A, Class A, 3 Mo. CME Term SOFR +\n CSA +\n \n 1.25%\n (a) (c)	\n 5.24% \n	\n 07/20/34 \n	\n 4,006,582 \n
\n	\n Garnet\n CLO 2 Ltd.
\n 2,000,000 \n	\n Series\n 2025-2A, Class A, 3 Mo. CME Term SOFR +\n \n 1.35%\n (a) (c)	\n 5.08% \n	\n 10/20/38 \n	\n 2,004,742 \n
\n	\n GLS\n Auto Select Receivables Trust
\n 360,806 \n	\n Series\n 2023-1A, Class A3 (a)	\n 5.96% \n	\n 10/16/28 \n	\n 362,210 \n
\n	\n GP-Honor\n Collateral Trust
\n 3,500,000 \n	\n Series\n 2026-A, Class A (a) (f)	\n 5.11% \n	\n 07/15/30 \n	\n 3,499,863 \n
\n	\n Gracie\n Point International Funding LLC
\n 4,296,000 \n	\n Series\n 2025-1A, Class A, 30 Day Average SOFR +\n 1.50% (a) (c)	\n 5.13% \n	\n 08/15/28 \n	\n 4,302,962 \n
\n	\n HalseyPoint\n CLO 4 Ltd.
\n 3,000,000 \n	\n Series\n 2021-4A, Class A1R, 3 Mo. CME Term SOFR +\n \n 1.27%\n (a) (c)	\n 0.00% \n	\n 07/20/37 \n	\n 3,000,765 \n

See\nNotes to Financial Statements

Page\n19

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n ASSET-BACKED\n SECURITIES (Continued)
\n	\n Harriman\n Park CLO Ltd.
\n $2,000,000 \n	\n Series\n 2020-1A, Class ARR, 3 Mo. CME Term SOFR +\n \n 1.30%\n (a) (c)	\n 5.03% \n	\n 07/20/38 \n	\n $2,003,715 \n
\n	\n Home\n Partners of America Trust
\n 850,821 \n	\n Series\n 2020-2, Class A (a)	\n 1.53% \n	\n 01/17/41 \n	\n 787,480 \n
\n	\n Invesco\n US CLO Ltd.
\n 2,625,000 \n	\n Series\n 2023-4A, Class A1R, 3 Mo. CME Term SOFR +\n \n 1.22%\n (a) (c)	\n 4.95% \n	\n 01/18/39 \n	\n 2,627,517 \n
\n	\n Kennedy\n Lewis CLO 16 Ltd.
\n 1,600,000 \n	\n Series\n 2024-16A, Class A1, 3 Mo. CME Term SOFR +\n \n 1.54%\n (a) (c)	\n 5.27% \n	\n 07/20/37 \n	\n 1,604,481 \n
\n	\n Kennedy\n Lewis CLO 4 Ltd.
\n 750,000 \n	\n Series\n 2024-4A, Class ARR, 3 Mo. CME Term SOFR +\n \n 1.43%\n (a) (c)	\n 5.16% \n	\n 07/20/37 \n	\n 751,833 \n
\n	\n Kennedy\n Lewis CLO 9 Ltd.
\n 500,000 \n	\n Series\n 2024-9A, Class AR, 3 Mo. CME Term SOFR +\n \n 1.35%\n (a) (c)	\n 5.08% \n	\n 01/20/38 \n	\n 501,090 \n
\n	\n KKR\n CLO 18 Ltd.
\n 2,000,000 \n	\n Series\n 2025-18, Class A2R2, 3 Mo. CME Term SOFR +\n \n 1.40%\n (a) (c)	\n 5.13% \n	\n 10/18/35 \n	\n 2,001,987 \n
\n	\n LCM\n 38 Ltd.
\n 600,000 \n	\n Series\n 2025-38A, Class AR2, 3 Mo. CME Term SOFR +\n \n 1.27%\n (a) (c)	\n 5.02% \n	\n 11/04/38 \n	\n 600,000 \n
\n	\n Luxury\n Lease Partners Auto Lease Trust
\n 3,382,501 \n	\n Series\n 2025-A, Class A (a)	\n 5.51% \n	\n 03/15/32 \n	\n 3,369,362 \n
\n	\n Madison\n Park Funding LV Ltd.
\n 1,907,456 \n	\n Series\n 2022-55A, Class A1R, 3 Mo. CME Term SOFR +\n \n 1.36%\n (a) (c)	\n 5.09% \n	\n 07/18/37 \n	\n 1,910,616 \n
\n	\n Madison\n Park Funding LXII Ltd.
\n 632,000 \n	\n Series\n 2022-62A, Class A1R2, 3 Mo. CME Term SOFR +\n \n 1.30%\n (a) (c)	\n 5.09% \n	\n 07/16/38 \n	\n 633,174 \n
\n	\n Madison\n Park Funding LXIII Ltd.
\n 2,000,000 \n	\n Series\n 2023-63A, Class A1R, 3 Mo. CME Term SOFR +\n \n 1.40%\n (a) (c)	\n 5.13% \n	\n 07/21/38 \n	\n 2,006,509 \n
\n	\n Magnetite\n XL Ltd.
\n 2,000,000 \n	\n Series\n 2024-40A, Class A1, 3 Mo. CME Term SOFR +\n \n 1.45%\n (a) (c)	\n 5.20% \n	\n 07/15/37 \n	\n 2,000,000 \n
\n	\n Neuberger\n Berman CLO XVI-S Ltd.
\n 1,000,000 \n	\n Series\n 2018-15A, Class A1R2, 3 Mo. CME Term SOFR +\n \n 1.18%\n (a) (c)	\n 4.93% \n	\n 04/15/39 \n	\n 1,000,318 \n
\n	\n OCP\n CLO Ltd.
\n 122,284 \n	\n Series\n 2014-5A, Class BR, 3 Mo. CME Term SOFR +\n CSA +\n \n 1.80%\n (a) (c)	\n 5.87% \n	\n 04/26/31 \n	\n 122,544 \n
\n 300,000 \n	\n Series\n 2018-15A, Class AR, 3 Mo. CME Term SOFR +\n \n 1.25%\n (a) (c)	\n 4.98% \n	\n 01/20/38 \n	\n 300,399 \n
\n	\n OHA\n Credit Funding 15-R Ltd.
\n 2,200,000 \n	\n Series\n 2023-15RA, Class A, 3 Mo. CME Term SOFR +\n \n 1.29%\n (a) (c)	\n 5.02% \n	\n 07/20/38 \n	\n 2,203,024 \n
\n	\n Oscar\n US Funding XV LLC
\n 142,182 \n	\n Series\n 2023-1A, Class A3 (a)	\n 5.81% \n	\n 12/10/27 \n	\n 142,570 \n
\n	\n Oscar\n US Funding XVII LLC
\n 100,000 \n	\n Series\n 2024-2A, Class A3 (a)	\n 4.47% \n	\n 03/12/29 \n	\n 99,815 \n

See\nNotes to Financial Statements

Page\n20

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n ASSET-BACKED\n SECURITIES (Continued)
\n	\n Pagaya\n AI Debt Grantor Trust
\n $81,894 \n	\n Series\n 2024-8, Class A (a)	\n 5.33% \n	\n 01/15/32 \n	\n $81,913 \n
\n 117,969 \n	\n Series\n 2024-9, Class A (a)	\n 5.07% \n	\n 03/15/32 \n	\n 118,064 \n
\n 439,764 \n	\n Series\n 2024-10, Class A (a)	\n 5.18% \n	\n 06/15/32 \n	\n 440,411 \n
\n 531,866 \n	\n Series\n 2024-11, Class A (a)	\n 5.09% \n	\n 07/15/32 \n	\n 532,739 \n
\n 3,364,214 \n	\n Series\n 2025-1, Class A2 (a)	\n 5.16% \n	\n 07/15/32 \n	\n 3,368,432 \n
\n 428,471 \n	\n Series\n 2025-2, Class A (a) (g)	\n 4.96% \n	\n 10/15/32 \n	\n 428,826 \n
\n 645,801 \n	\n Series\n 2025-4, Class A2 (a)	\n 5.37% \n	\n 01/17/33 \n	\n 647,429 \n
\n 1,571,108 \n	\n Series\n 2025-5, Class A2 (a)	\n 5.11% \n	\n 03/15/33 \n	\n 1,571,147 \n
\n 1,140,231 \n	\n Series\n 2025-R3, Class A (a)	\n 4.84% \n	\n 01/18/33 \n	\n 1,137,160 \n
\n 335,508 \n	\n Series\n 2026-1, Class A1 (a)	\n 4.23% \n	\n 02/15/27 \n	\n 335,459 \n
\n 499,674 \n	\n Series\n 2026-1, Class A2 (a)	\n 4.74% \n	\n 09/15/33 \n	\n 498,208 \n
\n 2,450,665 \n	\n Series\n 2026-R1, Class A (a)	\n 4.71% \n	\n 12/15/33 \n	\n 2,439,013 \n
\n	\n Pagaya\n AI Debt Trust
\n 1,383,279 \n	\n Series\n 2025-R1, Class A2 (a)	\n 5.34% \n	\n 06/15/32 \n	\n 1,385,323 \n
\n	\n Palmer\n Square Loan Funding Ltd.
\n 1,750,000 \n	\n Series\n 2023-2A, Class A2R, 3 Mo. CME Term SOFR +\n \n 1.50%\n (a) (c)	\n 5.31% \n	\n 01/25/32 \n	\n 1,752,433 \n
\n	\n PFS\n Financing Corp.
\n 1,000,000 \n	\n Series\n 2025-C, Class A, 30 Day Average SOFR +\n 0.95% (a) (c)	\n 4.58% \n	\n 04/15/29 \n	\n 1,003,477 \n
\n	\n Progress\n Residential Trust
\n 5,472,158 \n	\n Series\n 2025-SFR1, Class A (a)	\n 3.40% \n	\n 02/17/42 \n	\n 5,170,343 \n
\n 2,600,000 \n	\n Series\n 2025-SFR3, Class A (a)	\n 3.39% \n	\n 07/17/42 \n	\n 2,436,532 \n
\n	\n Research-Driven\n Pagaya Motor Asset Trust
\n 2,254,824 \n	\n Series\n 2025-1A, Class A (a)	\n 5.04% \n	\n 06/27/33 \n	\n 2,255,838 \n
\n 2,200,000 \n	\n Series\n 2025-3A, Class A2 (a)	\n 5.15% \n	\n 02/27/34 \n	\n 2,206,657 \n
\n 3,691,951 \n	\n Series\n 2026-R1A, Class A (a)	\n 5.66% \n	\n 07/25/34 \n	\n 3,685,543 \n
\n	\n Research-Driven\n Pagaya Motor Trust
\n 2,825,000 \n	\n Series\n 2025-5A, Class A3 (a)	\n 4.84% \n	\n 06/26/34 \n	\n 2,815,580 \n
\n 4,100,000 \n	\n Series\n 2025-6A, Class A3 (a)	\n 5.01% \n	\n 08/25/34 \n	\n 4,090,579 \n
\n	\n Rockford\n Tower CLO Ltd.
\n 300,000 \n	\n Series\n 2019-2A, Class BR2, 3 Mo. CME Term SOFR +\n \n 1.65%\n (a) (c)	\n 5.29% \n	\n 08/20/32 \n	\n 300,559 \n
\n	\n Rockland\n Park CLO Ltd.
\n 2,000,000 \n	\n Series\n 2021-1A, Class A1R, 3 Mo. CME Term SOFR +\n \n 1.30%\n (a) (c)	\n 5.03% \n	\n 07/20/38 \n	\n 2,003,683 \n
\n	\n Sandstone\n Peak III Ltd.
\n 2,000,000 \n	\n Series\n 2024-1A, Class A1R, 3 Mo. CME Term SOFR +\n \n 1.30%\n (a) (c)	\n 5.11% \n	\n 04/25/37 \n	\n 2,003,229 \n
\n	\n SBNA\n Auto Receivables Trust
\n 3,750,000 \n	\n Series\n 2024-A, Class B (a)	\n 5.29% \n	\n 09/17/29 \n	\n 3,774,415 \n
\n	\n Silver\n Point CLO 16 Ltd.
\n 4,000,000 \n	\n Series\n 2026-16A, Class A1, 3 Mo. CME Term SOFR +\n \n 1.23%\n (a) (c)	\n 4.92% \n	\n 04/18/39 \n	\n 4,003,804 \n
\n	\n Silver\n Point CLO 7 Ltd.
\n 500,000 \n	\n Series\n 2024-7A, Class A1, 3 Mo. CME Term SOFR +\n \n 1.36%\n (a) (c)	\n 5.11% \n	\n 01/15/38 \n	\n 501,098 \n
\n	\n Silver\n Point CLO 9 Ltd.
\n 1,500,000 \n	\n Series\n 2025-9A, Class A1, 3 Mo. CME Term SOFR +\n \n 1.52%\n (a) (c)	\n 5.27% \n	\n 03/31/38 \n	\n 1,506,155 \n

See\nNotes to Financial Statements

Page\n21

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n ASSET-BACKED\n SECURITIES (Continued)
\n	\n Sixth\n Street CLO XX Ltd.
\n $2,000,000 \n	\n Series\n 2021-20A, Class A1R, 3 Mo. CME Term SOFR +\n \n 1.32%\n (a) (c)	\n 5.07% \n	\n 07/17/38 \n	\n $2,003,660 \n
\n	\n Sound\n Point CLO XXII Ltd.
\n 250,000 \n	\n Series\n 2019-1A, Class BRR, 3 Mo. CME Term SOFR +\n \n 1.65%\n (a) (c)	\n 5.38% \n	\n 01/20/32 \n	\n 250,626 \n
\n	\n Sound\n Point CLO XXVIII Ltd.
\n 383,284 \n	\n Series\n 2020-3A, Class A1R, 3 Mo. CME Term SOFR +\n \n 1.28%\n (a) (c)	\n 5.09% \n	\n 01/25/32 \n	\n 383,624 \n
\n	\n STAR\n Trust
\n 4,993,410 \n	\n Series\n 2025-SFR5, Class A, 1 Mo. CME Term SOFR +\n \n 1.45%\n (a) (c)	\n 5.13% \n	\n 02/17/42 \n	\n 4,989,812 \n
\n	\n Steele\n Creek CLO Ltd.
\n 89,386 \n	\n Series\n 2018-1A, Class B, 3 Mo. CME Term SOFR +\n CSA +\n \n 1.48%\n (a) (c)	\n 5.49% \n	\n 04/15/31 \n	\n 89,691 \n
\n	\n Stratus\n Funding CLO Ltd.
\n 2,250,000 \n	\n Series\n 2025-1A, Class A2, 3 Mo. CME Term SOFR +\n \n 1.33%\n (a) (c)	\n 5.08% \n	\n 07/15/33 \n	\n 2,252,242 \n
\n	\n Venture\n XIX CLO Ltd.
\n 30,664 \n	\n Series\n 2014-19A, Class ARR, 3 Mo. CME Term SOFR +\n CSA +\n \n 1.26%\n (a) (c)	\n 5.27% \n	\n 01/15/32 \n	\n 30,702 \n
\n	\n Voya\n CLO Ltd.
\n 730,000 \n	\n Series\n 2024-4A, Class A1, 3 Mo. CME Term SOFR +\n \n 1.35%\n (a) (c)	\n 5.08% \n	\n 07/20/37 \n	\n 730,179 \n
\n	\n Whitebox\n CLO III Ltd.
\n 2,000,000 \n	\n Series\n 2021-3A, Class A1R, 3 Mo. CME Term SOFR +\n \n 1.27%\n (a) (c)	\n 5.02% \n	\n 10/15/35 \n	\n 2,002,251 \n
\n	\n Total\n Asset-Backed Securities	\n 159,649,227 \n
\n	\n (Cost\n $159,430,721)	\n
\n FOREIGN\n CORPORATE BONDS AND NOTES — 3.9%
\n	\n Apparel\n — 0.5%	\n
\n 6,500,000 \n	\n Gildan\n Activewear, Inc. (a)	\n 4.70% \n	\n 10/07/30 \n	\n 6,354,312 \n
\n 6,000,000 \n	\n Gildan\n Activewear, Inc. (a)	\n 5.40% \n	\n 10/07/35 \n	\n 5,763,736 \n
\n	\n \n	\n 12,118,048 \n
\n	\n Banks\n — 1.4%	\n
\n 5,000,000 \n	\n Bank\n of Montreal, Series J (i)	\n 5.30% \n	\n 06/02/37 \n	\n 4,891,851 \n
\n 3,500,000 \n	\n Barclays\n PLC (i)	\n 5.75% \n	\n 08/09/33 \n	\n 3,559,066 \n
\n 3,500,000 \n	\n Cooperatieve\n Rabobank U.A. (a) (i)	\n 5.71% \n	\n 01/21/33 \n	\n 3,589,616 \n
\n 8,500,000 \n	\n Credit\n Agricole S.A. (a) (i)	\n 4.82% \n	\n 09/25/33 \n	\n 8,222,610 \n
\n 3,500,000 \n	\n Lloyds\n Banking Group PLC (i)	\n 4.94% \n	\n 11/04/36 \n	\n 3,327,066 \n
\n 2,710,000 \n	\n UBS\n Group AG (a) (i)	\n 4.19% \n	\n 04/01/31 \n	\n 2,627,610 \n
\n 6,000,000 \n	\n UBS\n Group AG (a) (i)	\n 4.84% \n	\n 11/06/33 \n	\n 5,821,581 \n
\n 2,500,000 \n	\n UBS\n Group AG (a) (i)	\n 5.58% \n	\n 05/09/36 \n	\n 2,490,441 \n
\n	\n \n	\n 34,529,841 \n
\n	\n Building\n Materials — 0.5%	\n
\n 8,000,000 \n	\n Cemex\n S.A.B. de C.V. (a)	\n 3.88% \n	\n 07/11/31 \n	\n 7,464,810 \n
\n 5,000,000 \n	\n Cemex\n S.A.B. de C.V.	\n 5.75% \n	\n 06/05/36 \n	\n 4,890,500 \n
\n	\n \n	\n 12,355,310 \n

See\nNotes to Financial Statements

Page\n22

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n FOREIGN\n CORPORATE BONDS AND NOTES (Continued)
\n	\n Entertainment\n — 0.2%	\n
\n $1,105,000 \n	\n Flutter\n Treasury DAC (a)	\n 6.38% \n	\n 04/29/29 \n	\n $1,119,334 \n
\n 3,333,000 \n	\n Flutter\n Treasury DAC (a)	\n 5.88% \n	\n 06/04/31 \n	\n 3,284,909 \n
\n	\n \n	\n 4,404,243 \n
\n	\n Healthcare-Services\n — 0.3%	\n
\n 3,800,000 \n	\n Icon\n Investments Six DAC	\n 5.85% \n	\n 05/08/29 \n	\n 3,878,053 \n
\n 4,915,000 \n	\n Icon\n Investments Six DAC	\n 6.00% \n	\n 05/08/34 \n	\n 4,974,643 \n
\n	\n \n	\n 8,852,696 \n
\n	\n Insurance\n — 0.1%	\n
\n 1,530,000 \n	\n Aon\n Global Ltd. \n	\n 4.75% \n	\n 05/15/45 \n	\n 1,285,291 \n
\n	\n Leisure\n Time — 0.3%	\n
\n 6,000,000 \n	\n Carnival\n Corp. Ltd. (a)	\n 5.75% \n	\n 08/01/32 \n	\n 5,952,203 \n
\n 2,500,000 \n	\n Royal\n Caribbean Cruises Ltd.	\n 4.75% \n	\n 05/15/33 \n	\n 2,394,144 \n
\n	\n \n	\n 8,346,347 \n
\n	\n Packaging\n & Containers — 0.1%	\n
\n 3,500,000 \n	\n CCL\n Industries, Inc. (a)	\n 3.05% \n	\n 06/01/30 \n	\n 3,252,032 \n
\n	\n Pharmaceuticals\n — 0.4%	\n
\n 6,000,000 \n	\n Teva\n Pharmaceutical Finance Netherlands III BV	\n 6.00% \n	\n 12/01/32 \n	\n 6,115,080 \n
\n 6,000,000 \n	\n Teva\n Pharmaceutical Finance Netherlands III BV	\n 4.10% \n	\n 10/01/46 \n	\n 4,425,906 \n
\n	\n \n	\n 10,540,986 \n
\n	\n Software\n — 0.1%	\n
\n 2,670,000 \n	\n Constellation\n Software, Inc. (a)	\n 5.46% \n	\n 02/16/34 \n	\n 2,572,141 \n
\n	\n Total\n Foreign Corporate Bonds and Notes	\n 98,256,935 \n
\n	\n (Cost\n $100,248,898)	\n
\n MUNICIPAL\n BONDS — 1.5%
\n	\n New\n Jersey — 0.2%	\n
\n 6,000,000 \n	\n NJ\n Transprtn Trust Fund Auth, Ser AA	\n 5.00% \n	\n 06/15/50 \n	\n 6,142,427 \n
\n	\n New\n York — 0.7%	\n
\n 4,000,000 \n	\n City\n of NY, Ser G-1	\n 5.25% \n	\n 02/01/50 \n	\n 4,166,589 \n
\n 9,140,000 \n	\n NY\n City Transitional Fin Auth, Ser A	\n 5.50% \n	\n 05/01/50 \n	\n 9,790,484 \n
\n 3,000,000 \n	\n NY\n St Dorm Auth, Ser C	\n 5.50% \n	\n 03/15/53 \n	\n 3,199,414 \n
\n	\n \n	\n 17,156,487 \n
\n	\n Texas\n — 0.6%	\n
\n 7,000,000 \n	\n Dallas\n Fort Worth Intl Arpts, Ser A-1, AMT	\n 5.25% \n	\n 11/01/46 \n	\n 7,285,269 \n
\n 6,700,000 \n	\n New\n Hope Cultural Edu Facs Fin Corp TX Hosp Rev Children’s \n Hlth\n Sys of TX, Ser A	\n 5.50% \n	\n 08/15/49 \n	\n 7,218,886 \n
\n	\n \n	\n 14,504,155 \n
\n	\n Total\n Municipal Bonds	\n 37,803,069 \n
\n	\n (Cost\n $37,322,474)	\n
\n U.S.\n GOVERNMENT AGENCY SECURITIES — 0.1%
\n 4,000,000 \n	\n Tennessee\n Valley Authority\n	\n 5.25% \n	\n 02/01/55 \n	\n 3,765,188 \n
\n	\n (Cost\n $3,917,442)	\n \n	\n \n	\n

See\nNotes to Financial Statements

Page\n23

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Shares \n	\n Description \n	\n Value \n
\n EXCHANGE-TRADED\n FUNDS — 0.0%
\n	\n Capital\n Markets — 0.0%	\n
\n 20,000 \n	\n First\n Trust AAA CMBS ETF (l)	\n $402,700 \n
\n	\n (Cost\n $407,187)	\n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n U.S.\n TREASURY BILLS — 1.4%
\n $5,000,000 \n	\n U.S.\n Treasury Bill\n	\n (e) \n	\n 08/04/26 \n	\n 4,999,500 \n
\n 5,000,000 \n	\n U.S.\n Treasury Bill\n	\n (e) \n	\n 08/06/26 \n	\n 4,998,502 \n
\n 5,000,000 \n	\n U.S.\n Treasury Bill\n	\n (e) \n	\n 08/11/26 \n	\n 4,995,998 \n
\n 5,000,000 \n	\n U.S.\n Treasury Bill\n	\n (e) \n	\n 08/13/26 \n	\n 4,995,000 \n
\n 5,000,000 \n	\n U.S.\n Treasury Bill\n	\n (e) \n	\n 08/18/26 \n	\n 4,992,495 \n
\n 5,000,000 \n	\n U.S.\n Treasury Bill\n	\n (e) \n	\n 08/20/26 \n	\n 4,991,488 \n
\n 5,000,000 \n	\n U.S.\n Treasury Bill\n	\n (e) \n	\n 09/03/26 \n	\n 4,984,363 \n
\n	\n Total\n U.S. Treasury Bills	\n 34,957,346 \n
\n	\n (Cost\n $34,949,952)	\n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Shares \n	\n Description \n	\n Value \n
\n MONEY\n MARKET FUNDS — 0.8%
\n 21,143,625 \n	\n Morgan\n Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 3.54% (m)	\n 21,143,625 \n
\n	\n (Cost\n $21,143,625)	\n
\n	\n Total\n Investments — 105.2%	\n 2,682,526,122 \n
\n	\n (Cost\n $2,726,456,553)	\n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Number of \n Contracts \n	\n Description \n	\n Notional \n Amount \n	\n Exercise \n Price \n	\n Expiration \n Date \n	\n Value \n
\n PURCHASED\n OPTIONS — 0.0%
\n	\n Call\n Options Purchased — 0.0%	\n
\n 49 \n	\n U.S.\n Treasury Long Bond Futures, expiring \n September\n 2026	\n $5,307,313 \n	\n $110.00 \n	\n 08/21/26 \n	\n 21,437 \n
\n	\n (Cost\n $38,566)	\n	\n \n	\n \n	\n
\n	\n Put\n Options Purchased — 0.0%	\n
\n 50 \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n September\n 2026	\n 5,400,000 \n	\n 107.50 \n	\n 08/21/26 \n	\n 20,313 \n
\n	\n (Cost\n $15,177)	\n	\n \n	\n \n	\n
\n	\n Total\n Purchased Options	\n 41,750 \n
\n	\n (Cost\n $53,743)	\n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n U.S.\n GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (1.0)%
\n	\n Pass-Through\n Securities — (1.0)%	\n
\n	\n Federal\n National Mortgage Association	\n
\n $(2,304,000) \n	\n Pool\n TBA \n	\n 5.00% \n	\n 09/01/56 \n	\n (2,220,941 \n ) \n
\n (11,221,000) \n	\n Pool\n TBA (h)	\n 3.00% \n	\n 09/15/56 \n	\n (9,559,763 \n ) \n
\n (4,793,000) \n	\n Pool\n TBA \n	\n 4.00% \n	\n 09/15/56 \n	\n (4,372,602 \n ) \n
\n (2,486,000) \n	\n Pool\n TBA \n	\n 4.00% \n	\n 10/15/56 \n	\n (2,267,077 \n ) \n

See\nNotes to Financial Statements

Page\n24

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n U.S.\n GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT (Continued)
\n	\n Pass-Through\n Securities (Continued)	\n
\n	\n Government\n National Mortgage Association	\n
\n $(7,001,000) \n	\n Pool\n TBA (h)	\n 3.00% \n	\n 09/15/56 \n	\n $(6,066,255 \n ) \n
\n	\n Total\n Investments Sold Short — (1.0)%	\n (24,486,638 \n ) \n
\n	\n (Proceeds\n $24,975,536)	\n

\n Number of \n Contracts \n	\n Description \n	\n Notional \n Amount \n	\n Exercise \n Price \n	\n Expiration \n Date \n	\n Value \n
\n WRITTEN\n OPTIONS — (0.4)%
\n	\n Call\n Options Written — (0.0)%	\n
\n (247) \n	\n 3\n Month SOFR Futures, expiring December 2027	\n $(59,190,462 \n ) \n	\n $97.50 \n	\n 12/10/27 \n	\n (47,856 \n ) \n
\n (25) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (5,140,234 \n ) \n	\n 103.75 \n	\n 08/21/26 \n	\n (0 \n ) \n
\n (6) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (1,233,656 \n ) \n	\n 104.75 \n	\n 08/21/26 \n	\n (0 \n ) \n
\n (181) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (19,181,758 \n ) \n	\n 109.00 \n	\n 08/21/26 \n	\n (1,414 \n ) \n
\n (172) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (18,227,969 \n ) \n	\n 109.50 \n	\n 08/21/26 \n	\n (1,344 \n ) \n
\n (37) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (3,921,133 \n ) \n	\n 110.00 \n	\n 08/21/26 \n	\n (0 \n ) \n
\n (51) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (5,404,805 \n ) \n	\n 111.00 \n	\n 08/21/26 \n	\n (0 \n ) \n
\n (902) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n December\n 2026	\n (95,485,156 \n ) \n	\n 107.50 \n	\n 11/20/26 \n	\n (246,641 \n ) \n
\n (127) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n December\n 2026	\n (13,444,141 \n ) \n	\n 108.00 \n	\n 11/20/26 \n	\n (23,812 \n ) \n
\n (24) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n September\n 2026	\n (2,592,000 \n ) \n	\n 109.00 \n	\n 08/21/26 \n	\n (4,500 \n ) \n
\n (39) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n September\n 2026	\n (4,212,000 \n ) \n	\n 114.00 \n	\n 08/21/26 \n	\n (0 \n ) \n
\n (32) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n September\n 2026	\n (3,456,000 \n ) \n	\n 115.00 \n	\n 08/21/26 \n	\n (0 \n ) \n
\n (101) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (10,879,594 \n ) \n	\n 109.50 \n	\n 11/20/26 \n	\n (75,750 \n ) \n
\n (175) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (18,850,781 \n ) \n	\n 109.50 \n	\n 11/20/26 \n	\n (101,172 \n ) \n
\n (54) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (5,816,813 \n ) \n	\n 110.00 \n	\n 11/20/26 \n	\n (24,469 \n ) \n
\n (37) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (3,985,594 \n ) \n	\n 111.00 \n	\n 11/20/26 \n	\n (10,406 \n ) \n
\n (187) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (20,143,406 \n ) \n	\n 112.00 \n	\n 11/20/26 \n	\n (32,141 \n ) \n
\n (61) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n September\n 2026	\n (6,607,063 \n ) \n	\n 113.00 \n	\n 08/21/26 \n	\n (3,813 \n ) \n
\n (244) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n September\n 2026	\n (26,428,250 \n ) \n	\n 119.00 \n	\n 08/21/26 \n	\n (3,813 \n ) \n
\n (360) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n September\n 2026	\n (38,992,500 \n ) \n	\n 121.00 \n	\n 08/21/26 \n	\n (0 \n ) \n
\n (153) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (16,500,094 \n ) \n	\n 114.00 \n	\n 11/20/26 \n	\n (83,672 \n ) \n

See\nNotes to Financial Statements

Page\n25

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Number of \n Contracts \n	\n Description \n	\n Notional \n Amount \n	\n Exercise \n Price \n	\n Expiration \n Date \n	\n Value \n
\n WRITTEN\n OPTIONS (Continued)
\n	\n Call\n Options Written (Continued)	\n
\n (216) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n $(23,294,250 \n ) \n	\n $115.00 \n	\n 11/20/26 \n	\n $(91,125 \n ) \n
\n (28) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (3,019,625 \n ) \n	\n 116.00 \n	\n 11/20/26 \n	\n (9,187 \n ) \n
\n (24) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (2,588,250 \n ) \n	\n 120.00 \n	\n 11/20/26 \n	\n (3,375 \n ) \n
\n (74) \n	\n Ultra\n U.S. Treasury Long Bond Futures, expiring \n September\n 2026	\n (8,116,875 \n ) \n	\n 116.00 \n	\n 08/21/26 \n	\n (4,625 \n ) \n
\n (56) \n	\n Ultra\n U.S. Treasury Long Bond Futures, expiring \n September\n 2026	\n (6,142,500 \n ) \n	\n 118.00 \n	\n 08/21/26 \n	\n (1,750 \n ) \n
\n	\n Total\n Call Options Written	\n (770,865 \n ) \n
\n	\n (Premiums\n received $2,467,721)	\n
\n	\n Put\n Options Written — (0.4)%	\n
\n (118) \n	\n 3\n Month SOFR Futures, expiring December 2027	\n (28,277,225 \n ) \n	\n 95.50 \n	\n 12/10/27 \n	\n (94,400 \n ) \n
\n (275) \n	\n 3\n Month SOFR Futures, expiring December 2027	\n (65,900,312 \n ) \n	\n 96.00 \n	\n 12/10/27 \n	\n (355,781 \n ) \n
\n (184) \n	\n 3\n Month SOFR Futures, expiring December 2027	\n (44,093,300 \n ) \n	\n 96.38 \n	\n 12/10/27 \n	\n (341,550 \n ) \n
\n (26) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (5,345,844 \n ) \n	\n 102.50 \n	\n 08/21/26 \n	\n (3,656 \n ) \n
\n (99) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (20,355,328 \n ) \n	\n 102.75 \n	\n 08/21/26 \n	\n (29,391 \n ) \n
\n (114) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (23,439,469 \n ) \n	\n 103.00 \n	\n 08/21/26 \n	\n (64,125 \n ) \n
\n (79) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (16,243,141 \n ) \n	\n 103.25 \n	\n 08/21/26 \n	\n (75,297 \n ) \n
\n (89) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (18,299,234 \n ) \n	\n 103.50 \n	\n 08/21/26 \n	\n (125,156 \n ) \n
\n (6) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (1,233,656 \n ) \n	\n 103.75 \n	\n 08/21/26 \n	\n (11,344 \n ) \n
\n (271) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n December\n 2026	\n (55,656,625 \n ) \n	\n 102.50 \n	\n 11/20/26 \n	\n (165,141 \n ) \n
\n (125) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n December\n 2026	\n (25,671,875 \n ) \n	\n 102.63 \n	\n 11/20/26 \n	\n (87,891 \n ) \n
\n (121) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n December\n 2026	\n (24,850,375 \n ) \n	\n 102.75 \n	\n 11/20/26 \n	\n (98,313 \n ) \n
\n (155) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (16,426,367 \n ) \n	\n 107.00 \n	\n 08/21/26 \n	\n (168,320 \n ) \n
\n (572) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (60,618,594 \n ) \n	\n 107.50 \n	\n 08/21/26 \n	\n (884,812 \n ) \n
\n (27) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (2,861,367 \n ) \n	\n 108.00 \n	\n 08/21/26 \n	\n (55,055 \n ) \n
\n (353) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (37,409,727 \n ) \n	\n 108.50 \n	\n 08/21/26 \n	\n (893,531 \n ) \n
\n (170) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n December\n 2026	\n (17,996,094 \n ) \n	\n 105.00 \n	\n 11/20/26 \n	\n (92,969 \n ) \n
\n (203) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n December\n 2026	\n (21,489,453 \n ) \n	\n 105.50 \n	\n 11/20/26 \n	\n (145,906 \n ) \n
\n (12) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n December\n 2026	\n (1,270,313 \n ) \n	\n 106.50 \n	\n 11/20/26 \n	\n (14,531 \n ) \n
\n (63) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (6,786,281 \n ) \n	\n 106.50 \n	\n 11/20/26 \n	\n (55,125 \n ) \n
\n (347) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (37,378,406 \n ) \n	\n 107.00 \n	\n 11/20/26 \n	\n (357,844 \n ) \n

See\nNotes to Financial Statements

Page\n26

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Number of \n Contracts \n	\n Description \n	\n Notional \n Amount \n	\n Exercise \n Price \n	\n Expiration \n Date \n	\n Value \n
\n WRITTEN\n OPTIONS (Continued)
\n	\n Put\n Options Written (Continued)	\n
\n (39) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n $(4,201,031 \n ) \n	\n $107.50 \n	\n 11/20/26 \n	\n $(48,141 \n ) \n
\n (6) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n September\n 2026	\n (649,875 \n ) \n	\n 106.00 \n	\n 08/21/26 \n	\n (2,906 \n ) \n
\n (178) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n September\n 2026	\n (19,279,625 \n ) \n	\n 111.00 \n	\n 08/21/26 \n	\n (517,312 \n ) \n
\n (63) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n October\n 2026	\n (6,794,156 \n ) \n	\n 109.00 \n	\n 09/25/26 \n	\n (153,563 \n ) \n
\n (60) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n November\n 2026	\n (6,470,625 \n ) \n	\n 108.00 \n	\n 10/23/26 \n	\n (137,813 \n ) \n
\n (179) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n November\n 2026	\n (19,304,031 \n ) \n	\n 110.00 \n	\n 10/23/26 \n	\n (604,125 \n ) \n
\n (12) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (1,294,125 \n ) \n	\n 104.00 \n	\n 11/20/26 \n	\n (15,375 \n ) \n
\n (228) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (24,588,375 \n ) \n	\n 105.00 \n	\n 11/20/26 \n	\n (352,687 \n ) \n
\n (224) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (24,157,000 \n ) \n	\n 106.00 \n	\n 11/20/26 \n	\n (416,500 \n ) \n
\n (380) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (40,980,625 \n ) \n	\n 107.00 \n	\n 11/20/26 \n	\n (837,187 \n ) \n
\n (169) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (18,225,594 \n ) \n	\n 108.00 \n	\n 11/20/26 \n	\n (446,266 \n ) \n
\n (307) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (33,108,031 \n ) \n	\n 109.00 \n	\n 11/20/26 \n	\n (959,375 \n ) \n
\n (99) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (10,676,531 \n ) \n	\n 110.00 \n	\n 11/20/26 \n	\n (366,609 \n ) \n
\n (46) \n	\n Ultra\n U.S. Treasury Long Bond Futures, expiring \n September\n 2026	\n (5,045,625 \n ) \n	\n 112.00 \n	\n 08/21/26 \n	\n (127,938 \n ) \n
\n	\n Total\n Put Options Written	\n (9,105,935 \n ) \n
\n	\n (Premiums\n received $4,863,449)	\n
\n	\n Total\n Written Options	\n (9,876,800 \n ) \n
\n	\n (Premiums\n received $7,331,170)	\n
\n	\n Net\n Other Assets and Liabilities — (3.8)%	\n (97,112,336 \n ) \n
\n	\n Net\n Assets — 100.0%	\n $2,551,092,098 \n

Futures Contracts at July\n31, 2026 (See Note 2D\n- Futures Contracts in the Notes to Financial Statements):

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Futures\n Contracts Long	\n Number of \n Contracts \n	\n Expiration \n Date \n	\n Notional \n Value \n	\n Unrealized \n Appreciation\n \n (Depreciation)/\n \n Value \n
\n U.S.\n 2-Year Treasury Notes	\n 2,256 \n	\n Sep-2026 \n	\n $463,854,752 \n	\n $(1,479,832 \n ) \n
\n U.S.\n 5-Year Treasury Notes	\n 940 \n	\n Sep-2026 \n	\n 99,617,969 \n	\n (657,825 \n ) \n
\n U.S.\n 10-Year Treasury Notes	\n 220 \n	\n Sep-2026 \n	\n 23,760,000 \n	\n (275,547 \n ) \n
\n U.S.\n Treasury Long-Term Bond Futures	\n 620 \n	\n Sep-2026 \n	\n 67,153,750 \n	\n (481,275 \n ) \n
\n Ultra\n U.S. Treasury Bond Futures	\n 441 \n	\n Sep-2026 \n	\n 48,372,188 \n	\n (1,942,944 \n ) \n
\n \n	\n	\n	\n $702,758,659 \n	\n $(4,837,423 \n ) \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Futures\n Contracts Short

\n \n

Ultra\n 10-Year U.S. Treasury Notes

2,148

Sep-2026

$(235,642,313

)

$4,712,521

\n \n

Total

$467,116,346

$(124,902

)

See\nNotes to Financial Statements

Page\n27

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n (a) \n	\n This\n security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under \n Rule\n 144A of the Securities Act of 1933, as amended, and may be resold in transactions exempt from registration, normally\n to \n qualified\n institutional buyers. Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined \n to\n be liquid by First Trust Advisors L.P., the Fund’s advisor. Although market instability can result in periods of increased overall\n \n market\n illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require \n subjective\n judgment. At July 31, 2026, securities noted as such amounted to $887,063,284 or 34.8% of net assets.
\n (b) \n	\n Collateral\n Strip Rate security. Coupon is based on the weighted net interest rate of the investment’s underlying collateral. The \n interest\n rate resets periodically.
\n (c) \n	\n Floating\n or variable rate security.
\n (d) \n	\n Inverse\n floating rate security.
\n (e) \n	\n Zero\n coupon security.
\n (f) \n	\n This\n security is fair valued by the Advisor’s Pricing Committee in accordance with procedures approved by the Trust’s Board of\n \n Trustees,\n and in accordance with provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At \n July\n 31, 2026, securities noted as such are valued at $15,930,527 or 0.6% of net assets.
\n (g) \n	\n Weighted\n Average Coupon security. Coupon is based on the blended interest rate of the underlying holdings, which may have \n different\n coupons. The coupon may change in any period.
\n (h) \n	\n All\n or a portion of this security is part of a mortgage dollar roll agreement (see Note 2I\n - Mortgage Dollar Rolls and TBA \n Transactions\n in the Notes to Financial Statements).
\n (i) \n	\n Fixed-to-floating\n or fixed-to-variable rate security. The interest rate shown reflects the fixed rate in effect at July 31, 2026. At a \n predetermined\n date, the fixed rate will change to a floating rate or a variable rate.
\n (j) \n	\n Step-up\n security. A security where the coupon increases or steps up at a predetermined date.
\n (k) \n	\n All\n or a portion of this security is segregated as collateral for open futures and options contracts. At July 31, 2026, the segregated \n value\n of this security amounts to $29,701,563.
\n (l) \n	\n Investment\n in an affiliated fund.
\n (m) \n	\n Rate\n shown reflects yield as of July 31, 2026.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

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

See\nNotes to Financial Statements

Page\n28

First Trust Core\nInvestment Grade ETF (FTCB)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

Valuation\nInputs

A summary\nof the inputs used to value the Fund’s investments as of July 31, 2026 is as follows (see Note 2A\n- Portfolio Valuation in the Notes to Financial Statements):

\n ASSETS\n TABLE
\n \n	\n Total\n \n Value\n at \n 7/31/2026 \n	\n Level\n 1 \n Quoted\n \n Prices \n	\n Level\n 2 \n Significant\n \n Observable\n \n Inputs \n	\n Level\n 3 \n Significant\n \n Unobservable\n \n Inputs \n
\n U.S.\n Government Agency Mortgage-Backed \n Securities \n	\n $855,193,606 \n	\n $— \n	\n $855,193,606 \n	\n $— \n
\n Corporate\n Bonds and Notes*	\n 521,970,260 \n	\n — \n	\n 521,970,260 \n	\n — \n
\n Mortgage-Backed\n Securities	\n 512,999,976 \n	\n — \n	\n 512,999,976 \n	\n — \n
\n U.S.\n Government Bonds and Notes	\n 436,384,190 \n	\n — \n	\n 436,384,190 \n	\n — \n
\n Asset-Backed\n Securities	\n 159,649,227 \n	\n — \n	\n 159,649,227 \n	\n — \n
\n Foreign\n Corporate Bonds and Notes*	\n 98,256,935 \n	\n — \n	\n 98,256,935 \n	\n — \n
\n Municipal\n Bonds**	\n 37,803,069 \n	\n — \n	\n 37,803,069 \n	\n — \n
\n U.S.\n Government Agency Securities	\n 3,765,188 \n	\n — \n	\n 3,765,188 \n	\n — \n
\n Exchange-Traded\n Funds*	\n 402,700 \n	\n 402,700 \n	\n — \n	\n — \n
\n U.S.\n Treasury Bills	\n 34,957,346 \n	\n — \n	\n 34,957,346 \n	\n — \n
\n Money\n Market Funds	\n 21,143,625 \n	\n 21,143,625 \n	\n — \n	\n — \n
\n Total\n Investments	\n 2,682,526,122 \n	\n 21,546,325 \n	\n 2,660,979,797 \n	\n — \n
\n Purchased\n Options	\n 41,750 \n	\n 41,750 \n	\n — \n	\n — \n
\n Futures\n Contracts***	\n 4,712,521 \n	\n 4,712,521 \n	\n — \n	\n — \n
\n Total \n	\n $2,687,280,393 \n	\n $26,300,596 \n	\n $2,660,979,797 \n	\n $— \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

LIABILITIES\n TABLE

\n \n

Total\n

Value\n at

7/31/2026

Level\n 1

Quoted\n

Prices

Level\n 2

Significant\n

Observable\n

Inputs

Level\n 3

Significant\n

Unobservable\n

Inputs

U.S.\n Government Agency Mortgage-Backed

Securities\n Sold Short

$(24,486,638

)

$—

$(24,486,638

)

$—

Written\n Options

(9,876,800

)

(9,876,800

)

—

Futures\n Contracts***

(4,837,423

)

(4,837,423

)

—

Total

$(39,200,861

)

$(14,714,223

)

$(24,486,638

)

$—

\n \n \n \n \n \n \n \n \n \n

See\n Portfolio of Investments for industry breakout.

See\n Portfolio of Investments for state breakout.

***

Includes\n cumulative appreciation/depreciation on futures contracts as reported in the Futures Contracts table. Only the current

day’s\n variation margin is presented on the Statements of Assets and Liabilities.

See\nNotes to Financial Statements

Page\n29

First Trust AAA\nCMBS ETF (CAAA)\n\n

Portfolio of Investments\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES — 91.7%
\n	\n Commercial\n Mortgage-Backed Securities — 91.7%
\n	\n 2023-MIC\n Trust (The)	\n \n	\n \n	\n
\n $530,000 \n	\n Series\n 2023-MIC, Class A (a) (b)	\n 8.44% \n	\n 12/05/38 \n	\n $556,219 \n
\n	\n Arbor\n Multifamily Mortgage Securities Trust	\n \n	\n \n	\n
\n 390,000 \n	\n Series\n 2020-MF1, Class A4 (a)	\n 2.50% \n	\n 05/15/53 \n	\n 360,346 \n
\n 150,000 \n	\n Series\n 2020-MF1, Class AS (a)	\n 3.06% \n	\n 05/15/53 \n	\n 139,025 \n
\n 390,000 \n	\n Series\n 2021-MF2, Class A4 (a)	\n 2.25% \n	\n 06/15/54 \n	\n 345,542 \n
\n 3,791,000 \n	\n Series\n 2021-MF3, Class XB, IO (a) (b)	\n 0.49% \n	\n 10/15/54 \n	\n 88,331 \n
\n	\n BANK \n	\n \n	\n \n	\n
\n 2,843,681 \n	\n Series\n 2018-BN10, Class XA, IO (b)	\n 0.68% \n	\n 02/15/61 \n	\n 21,619 \n
\n 208,467 \n	\n Series\n 2018-BN13, Class A4	\n 3.95% \n	\n 08/15/61 \n	\n 205,449 \n
\n 7,431,336 \n	\n Series\n 2019-BN19, Class XA, IO (b)	\n 0.93% \n	\n 08/15/61 \n	\n 168,690 \n
\n 2,988,794 \n	\n Series\n 2019-BN21, Class XA, IO (b)	\n 0.81% \n	\n 10/17/52 \n	\n 62,265 \n
\n 4,084,069 \n	\n Series\n 2019-BN23, Class XA, IO (b)	\n 0.68% \n	\n 12/15/52 \n	\n 75,750 \n
\n 542,000 \n	\n Series\n 2020-BN25, Class A5	\n 2.65% \n	\n 01/15/63 \n	\n 499,198 \n
\n 325,000 \n	\n Series\n 2020-BN26, Class A3	\n 2.16% \n	\n 03/15/63 \n	\n 298,381 \n
\n 2,377,205 \n	\n Series\n 2020-BN26, Class XA, IO (b)	\n 1.19% \n	\n 03/15/63 \n	\n 71,895 \n
\n 305,000 \n	\n Series\n 2020-BN27, Class A5	\n 2.14% \n	\n 04/15/63 \n	\n 272,232 \n
\n 500,170 \n	\n Series\n 2020-BN29, Class A4	\n 2.00% \n	\n 11/15/53 \n	\n 438,443 \n
\n 414,000 \n	\n Series\n 2020-BN30, Class A4	\n 1.93% \n	\n 12/15/53 \n	\n 362,563 \n
\n 7,500,000 \n	\n Series\n 2021-BN31, Class XB, IO (b)	\n 0.87% \n	\n 02/15/54 \n	\n 250,255 \n
\n 318,750 \n	\n Series\n 2021-BN33, Class A5	\n 2.56% \n	\n 05/15/64 \n	\n 284,170 \n
\n 8,563,870 \n	\n Series\n 2023-BNK46, Class XA, IO (b)	\n 0.62% \n	\n 08/15/56 \n	\n 256,745 \n
\n 5,159,323 \n	\n Series\n 2025-BNK49, Class XA, IO (b)	\n 0.62% \n	\n 03/15/58 \n	\n 226,046 \n
\n	\n BBCMS\n Mortgage Trust	\n \n	\n \n	\n
\n 400,000 \n	\n Series\n 2017-C1, Class A4	\n 3.67% \n	\n 02/15/50 \n	\n 397,357 \n
\n 300,000 \n	\n Series\n 2018-C2, Class A4	\n 4.05% \n	\n 12/15/51 \n	\n 296,020 \n
\n 543,000 \n	\n Series\n 2018-TALL, Class A, 1 Mo. CME Term SOFR +\n CSA +\n \n 0.87%\n (a) (c)	\n 4.60% \n	\n 03/15/37 \n	\n 514,025 \n
\n 354,867 \n	\n Series\n 2020-C6, Class ASB	\n 2.60% \n	\n 02/15/53 \n	\n 343,015 \n
\n 550,000 \n	\n Series\n 2020-C8, Class A5	\n 2.04% \n	\n 10/15/53 \n	\n 487,289 \n
\n 300,000 \n	\n Series\n 2022-C16, Class A5	\n 4.60% \n	\n 06/15/55 \n	\n 288,544 \n
\n 300,000 \n	\n Series\n 2022-C18, Class A5	\n 5.71% \n	\n 12/15/55 \n	\n 305,610 \n
\n 5,785,214 \n	\n Series\n 2025-C35, Class XA, IO (b)	\n 0.65% \n	\n 07/15/58 \n	\n 273,223 \n
\n	\n Benchmark\n Mortgage Trust	\n \n	\n \n	\n
\n 329,000 \n	\n Series\n 2020-B18, Class A5	\n 1.93% \n	\n 07/15/53 \n	\n 290,118 \n
\n 500,000 \n	\n Series\n 2021-INV1, Class A4	\n 2.27% \n	\n 04/15/54 \n	\n 452,584 \n
\n 425,000 \n	\n Series\n 2023-B40, Class ASB	\n 6.25% \n	\n 12/15/56 \n	\n 446,334 \n
\n 2,441,721 \n	\n Series\n 2024-V6, Class XA, IO (b)	\n 1.33% \n	\n 03/15/57 \n	\n 71,288 \n
\n	\n BMO\n Mortgage Trust	\n \n	\n \n	\n
\n 260,000 \n	\n Series\n 2023-C5, Class ASB	\n 5.99% \n	\n 06/15/56 \n	\n 268,162 \n
\n 235,000 \n	\n Series\n 2023-C6, Class ASB	\n 6.21% \n	\n 09/15/56 \n	\n 244,482 \n
\n 300,000 \n	\n Series\n 2024-C9, Class ASB	\n 5.77% \n	\n 07/15/57 \n	\n 308,435 \n
\n 250,000 \n	\n Series\n 2025-C11, Class ASB	\n 5.68% \n	\n 02/15/58 \n	\n 256,854 \n
\n 350,000 \n	\n Series\n 2025-C12, Class ASB	\n 5.76% \n	\n 06/15/58 \n	\n 360,007 \n
\n 3,668,225 \n	\n Series\n 2025-C13, Class XA, IO (b)	\n 1.01% \n	\n 10/15/58 \n	\n 267,540 \n
\n	\n BPR\n Mortgage Trust	\n \n	\n \n	\n
\n 250,000 \n	\n Series\n 2023-STON, Class A (a)	\n 7.50% \n	\n 12/05/39 \n	\n 255,050 \n
\n	\n BSTN\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 551,000 \n	\n Series\n 2025-1C, Class A (a) (b)	\n 5.37% \n	\n 06/15/44 \n	\n 552,635 \n

See\nNotes to Financial Statements

Page\n30

First Trust AAA\nCMBS ETF (CAAA)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Commercial\n Mortgage-Backed Securities (Continued)
\n	\n BWAY\n Trust	\n \n	\n \n	\n
\n $415,000 \n	\n Series\n 2025-1535, Class A (a) (b)	\n 6.31% \n	\n 05/05/42 \n	\n $416,506 \n
\n 131,000 \n	\n Series\n 2025-1535, Class B (a) (b)	\n 7.46% \n	\n 05/05/42 \n	\n 134,840 \n
\n	\n BX\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 489,000 \n	\n Series\n 2020-VIV4, Class A (a)	\n 2.84% \n	\n 03/09/44 \n	\n 450,382 \n
\n 405,000 \n	\n Series\n 2026-VLT10, Class A (a) (b)	\n 5.36% \n	\n 07/13/58 \n	\n 384,904 \n
\n	\n BX\n Trust	\n \n	\n \n	\n
\n 650,000 \n	\n Series\n 2025-ARIA, Class A (a) (b)	\n 5.03% \n	\n 12/13/42 \n	\n 646,244 \n
\n 600,000 \n	\n Series\n 2025-DELC, Class A, 1 Mo. CME Term SOFR +\n \n 1.55%\n (a) (c)	\n 5.23% \n	\n 12/15/42 \n	\n 602,358 \n
\n 260,000 \n	\n Series\n 2025-GW, Class A, 1 Mo. CME Term SOFR +\n \n 1.60%\n (a) (c)	\n 5.28% \n	\n 07/15/42 \n	\n 261,159 \n
\n 255,000 \n	\n Series\n 2025-VOLT, Class A, 1 Mo. CME Term SOFR +\n \n 1.70%\n (a) (c)	\n 5.38% \n	\n 12/15/44 \n	\n 254,795 \n
\n	\n CALI \n	\n \n	\n \n	\n
\n 389,000 \n	\n Series\n 2024-SUN, Class A, 1 Mo. CME Term SOFR +\n \n 1.89%\n (a) (c)	\n 5.56% \n	\n 07/15/41 \n	\n 389,515 \n
\n	\n Cantor\n Commercial Real Estate Lending	\n \n	\n \n	\n
\n 359,548 \n	\n Series\n 2019-CF1, Class A2	\n 3.62% \n	\n 05/15/52 \n	\n 354,282 \n
\n	\n CENT \n	\n \n	\n \n	\n
\n 550,000 \n	\n Series\n 2025-CITY, Class A (a) (b)	\n 4.92% \n	\n 07/10/40 \n	\n 545,270 \n
\n	\n CFCRE\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 6,936,271 \n	\n Series\n 2017-C8, Class XA, IO (b)	\n 1.43% \n	\n 06/15/50 \n	\n 29,949 \n
\n	\n CHI\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 520,000 \n	\n Series\n 2025-SFT, Class A (a) (b)	\n 5.48% \n	\n 04/15/42 \n	\n 521,701 \n
\n	\n Citigroup\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 295,357 \n	\n Series\n 2019-C7, Class AAB	\n 3.04% \n	\n 12/15/72 \n	\n 286,783 \n
\n 326,242 \n	\n Series\n 2019-GC43, Class AAB	\n 2.96% \n	\n 11/10/52 \n	\n 316,739 \n
\n 500,000 \n	\n Series\n 2020-420K, Class A (a)	\n 2.46% \n	\n 11/10/42 \n	\n 446,935 \n
\n	\n CONE\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 260,000 \n	\n Series\n 2026-ACD6, Class A (a)	\n 6.06% \n	\n 07/15/43 \n	\n 258,320 \n
\n 500,000 \n	\n Series\n 2026-DFW3, Class A (a) (b)	\n 5.57% \n	\n 05/15/43 \n	\n 495,028 \n
\n	\n CRSNT\n Trust	\n \n	\n \n	\n
\n 135,000 \n	\n Series\n 2026-MOON, Class A, 1 Mo. CME Term SOFR +\n CSA +\n \n 1.35%\n (a) (c)	\n 5.08% \n	\n 02/15/43 \n	\n 135,230 \n
\n	\n Deutsche\n Bank Commercial Mortgage Trust	\n \n	\n \n	\n
\n 300,000 \n	\n Series\n 2020-C9, Class A5	\n 1.93% \n	\n 08/15/53 \n	\n 266,878 \n
\n	\n FS \n	\n \n	\n \n	\n
\n 400,000 \n	\n Series\n 2026-ORL, Class A, 1 Mo. CME Term SOFR +\n \n 1.35%\n (a) (c)	\n 5.03% \n	\n 02/15/41 \n	\n 400,913 \n
\n	\n GGP\n Trust	\n \n	\n \n	\n
\n 499,251 \n	\n Series\n 2026-2PAK, Class A (b)	\n 5.83% \n	\n 05/10/43 \n	\n 496,811 \n
\n	\n GS\n Mortgage Securities Trust	\n \n	\n \n	\n
\n 217,195 \n	\n Series\n 2017-GS6, Class A2	\n 3.16% \n	\n 05/10/50 \n	\n 215,252 \n
\n 8,400,329 \n	\n Series\n 2019-GC39, Class XA, IO (b)	\n 1.07% \n	\n 05/10/52 \n	\n 206,232 \n
\n 300,000 \n	\n Series\n 2024-FAIR, Class A (a) (b)	\n 5.88% \n	\n 07/15/29 \n	\n 298,220 \n
\n	\n Hawaii\n Hotel Trust	\n \n	\n \n	\n
\n 257,500 \n	\n Series\n 2025-MAUI, Class A, 1 Mo. CME Term SOFR +\n \n 1.39%\n (a) (c)	\n 5.07% \n	\n 03/15/42 \n	\n 258,109 \n

See\nNotes to Financial Statements

Page\n31

First Trust AAA\nCMBS ETF (CAAA)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Commercial\n Mortgage-Backed Securities (Continued)
\n	\n Hilton\n USA Trust	\n \n	\n \n	\n
\n $300,000 \n	\n Series\n 2016-HHV, Class A (a)	\n 3.72% \n	\n 11/05/38 \n	\n $299,256 \n
\n 300,000 \n	\n Series\n 2025-NVIL, Class A, 1 Mo. CME Term SOFR +\n \n 1.74%\n (a) (c)	\n 5.42% \n	\n 07/15/42 \n	\n 301,194 \n
\n	\n Houston\n Galleria Mall Trust	\n \n	\n \n	\n
\n 530,000 \n	\n Series\n 2025-HGLR, Class A (a) (b)	\n 5.46% \n	\n 02/05/45 \n	\n 531,740 \n
\n	\n ILPT\n Trust	\n \n	\n \n	\n
\n 325,000 \n	\n Series\n 2019-SURF, Class A (a)	\n 4.15% \n	\n 02/11/41 \n	\n 316,550 \n
\n	\n INT\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 500,000 \n	\n Series\n 2025-PLAZA, Class A (a) (b)	\n 4.88% \n	\n 11/05/37 \n	\n 494,360 \n
\n	\n IRV\n Trust	\n \n	\n \n	\n
\n 100,000 \n	\n Series\n 2025-200P, Class A (a) (b)	\n 5.29% \n	\n 03/14/47 \n	\n 99,317 \n
\n	\n JP\n Morgan Chase Commercial Mortgage Securities Trust	\n \n	\n \n	\n
\n 6,962,825 \n	\n Series\n 2019-COR5, Class XA, IO (b)	\n 1.41% \n	\n 06/13/52 \n	\n 211,947 \n
\n 500,000 \n	\n Series\n 2025-PHNY, Class A, 1 Mo. CME Term SOFR +\n \n 1.64%\n (a) (c)	\n 5.32% \n	\n 01/15/41 \n	\n 501,564 \n
\n	\n JW\n Trust	\n \n	\n \n	\n
\n 260,000 \n	\n Series\n 2024-BERY, Class A, 1 Mo. CME Term SOFR +\n \n 1.59%\n (a) (c)	\n 5.27% \n	\n 11/15/39 \n	\n 260,626 \n
\n	\n KRE\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 300,000 \n	\n Series\n 2026-ICNA, Class A, 1 Mo. CME Term SOFR +\n \n 1.85%\n (a) (c)	\n 5.53% \n	\n 05/15/43 \n	\n 300,932 \n
\n	\n Manhattan\n West Mortgage Trust	\n \n	\n \n	\n
\n 287,000 \n	\n Series\n 2020-1MW, Class A (a)	\n 2.13% \n	\n 09/10/39 \n	\n 278,206 \n
\n 410,000 \n	\n Series\n 2026-2MW, Class A (a) (b)	\n 5.32% \n	\n 06/10/48 \n	\n 405,373 \n
\n	\n MCR\n Mortgage Trust	\n \n	\n \n	\n
\n 305,000 \n	\n Series\n 2024-TWA, Class A (a)	\n 5.92% \n	\n 06/12/39 \n	\n 305,730 \n
\n	\n Morgan\n Stanley Capital I Trust	\n \n	\n \n	\n
\n 216,953 \n	\n Series\n 2018-L1, Class A3	\n 4.14% \n	\n 10/15/51 \n	\n 214,506 \n
\n 310,015 \n	\n Series\n 2019-L2, Class A3	\n 3.81% \n	\n 03/15/52 \n	\n 301,256 \n
\n 12,173,227 \n	\n Series\n 2019-L2, Class XA, IO (b)	\n 0.99% \n	\n 03/15/52 \n	\n 250,845 \n
\n	\n MSWF\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 5,339,510 \n	\n Series\n 2023-1, Class XA, IO (b)	\n 0.86% \n	\n 05/15/56 \n	\n 237,158 \n
\n	\n NRTH\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 275,000 \n	\n Series\n 2025-PARK, Class A, 1 Mo. CME Term SOFR +\n \n 1.39%\n (a) (c)	\n 5.07% \n	\n 10/15/40 \n	\n 276,032 \n
\n	\n NY\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 500,000 \n	\n Series\n 2025-299P, Class A (a) (b)	\n 5.66% \n	\n 02/10/47 \n	\n 508,831 \n
\n	\n NYO\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 375,000 \n	\n Series\n 2021-1290, Class A, 1 Mo. CME Term SOFR +\n CSA +\n \n 1.10%\n (a) (c)	\n 4.89% \n	\n 11/15/38 \n	\n 375,289 \n
\n	\n One\n New York Plaza Trust	\n \n	\n \n	\n
\n 311,490 \n	\n Series\n 2020-1NYP, Class A, 1 Mo. CME Term SOFR +\n CSA +\n \n 0.95%\n (a) (c)	\n 4.74% \n	\n 01/15/36 \n	\n 303,537 \n
\n	\n SFO\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 319,200 \n	\n Series\n 2021-555, Class A, 1 Mo. CME Term SOFR +\n CSA +\n \n 1.40%\n (a) (c)	\n 5.19% \n	\n 05/15/38 \n	\n 319,155 \n
\n	\n SHOPS\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 300,000 \n	\n Series\n 2026-CSTL, Class A (a) (b)	\n 4.81% \n	\n 05/05/39 \n	\n 295,306 \n

See\nNotes to Financial Statements

Page\n32

First Trust AAA\nCMBS ETF (CAAA)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Commercial\n Mortgage-Backed Securities (Continued)
\n	\n SKY\n Trust	\n \n	\n \n	\n
\n $448,210 \n	\n Series\n 2025-LINE, Class A, 1 Mo. CME Term SOFR +\n \n 2.59%\n (a) (c)	\n 6.26% \n	\n 04/15/42 \n	\n $451,090 \n
\n	\n SLG\n Office Trust	\n \n	\n \n	\n
\n 323,000 \n	\n Series\n 2021-OVA, Class A (a)	\n 2.59% \n	\n 07/15/41 \n	\n 285,744 \n
\n	\n SWCH\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 555,000 \n	\n Series\n 2025-DATA, Class A, 1 Mo. CME Term SOFR +\n \n 1.44%\n (a) (c)	\n 5.12% \n	\n 02/15/42 \n	\n 551,585 \n
\n	\n TEXAS\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 500,000 \n	\n Series\n 2025-TWR, Class A, 1 Mo. CME Term SOFR +\n \n 1.29%\n (a) (c)	\n 4.97% \n	\n 04/15/42 \n	\n 499,926 \n
\n	\n VRTX\n Trust	\n \n	\n \n	\n
\n 500,000 \n	\n Series\n 2025-HQ, Class A (a) (b)	\n 4.93% \n	\n 08/05/42 \n	\n 483,837 \n
\n	\n Wells\n Fargo Commercial Mortgage Trust	\n \n	\n \n	\n
\n 375,000 \n	\n Series\n 2018-C47, Class A4	\n 4.44% \n	\n 09/15/61 \n	\n 370,848 \n
\n 76,100 \n	\n Series\n 2018-C47, Class AS	\n 4.67% \n	\n 09/15/61 \n	\n 74,794 \n
\n 4,030,871 \n	\n Series\n 2021-C59, Class XA, IO (b)	\n 1.46% \n	\n 04/15/54 \n	\n 204,159 \n
\n 3,540,077 \n	\n Series\n 2021-C60, Class XA, IO (b)	\n 1.51% \n	\n 08/15/54 \n	\n 205,444 \n
\n 380,000 \n	\n Series\n 2022-C62, Class A4	\n 4.00% \n	\n 04/15/55 \n	\n 355,954 \n
\n 349,962 \n	\n Series\n 2025-B33RP, Class A, 1 Mo. CME Term SOFR +\n \n 1.35%\n (a) (c)	\n 5.03% \n	\n 08/15/42 \n	\n 350,386 \n
\n	\n WHARF\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 325,000 \n	\n Series\n 2025-DC, Class A (a) (b)	\n 5.35% \n	\n 07/15/40 \n	\n 327,152 \n
\n	\n Total\n Mortgage-Backed Securities	\n 32,284,720 \n
\n	\n (Cost\n $32,343,074)	\n
\n U.S.\n GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 6.1%
\n	\n Commercial\n Mortgage-Backed Securities — 4.5%
\n	\n Federal\n Home Loan Mortgage Corporation Multiclass Certificates	\n \n	\n \n	\n
\n 160,000 \n	\n Series\n 2020-RR05, Class X, IO	\n 2.01% \n	\n 01/27/29 \n	\n 6,635 \n
\n	\n Federal\n Home Loan Mortgage Corporation Multifamily Structured \n Pass\n Through Certificates	\n \n	\n \n	\n
\n 8,606,412 \n	\n Series\n 2020-K104, Class X1, IO (b)	\n 1.10% \n	\n 01/25/30 \n	\n 280,248 \n
\n 1,591,613 \n	\n Series\n 2020-K122, Class X1, IO (b)	\n 0.86% \n	\n 11/25/30 \n	\n 48,913 \n
\n 1,184,933 \n	\n Series\n 2025-K546, Class X1, IO (b)	\n 0.90% \n	\n 05/25/30 \n	\n 35,435 \n
\n	\n Government\n National Mortgage Association	\n \n	\n \n	\n
\n 3,489,082 \n	\n Series\n 2021-31, Class IO, IO (b)	\n 0.94% \n	\n 01/16/61 \n	\n 238,947 \n
\n 4,779,543 \n	\n Series\n 2024-47, Class AI, IO	\n 0.75% \n	\n 06/16/64 \n	\n 246,761 \n
\n 3,238,838 \n	\n Series\n 2025-153, Class IO, IO (b)	\n 0.85% \n	\n 09/16/67 \n	\n 239,331 \n
\n 4,062,375 \n	\n Series\n 2025-206, Class IO, IO (b)	\n 0.80% \n	\n 04/16/64 \n	\n 247,195 \n
\n 3,488,778 \n	\n Series\n 2025-21, Class IO, IO (b)	\n 0.95% \n	\n 04/16/65 \n	\n 246,402 \n
\n	\n \n	\n 1,589,867 \n
\n	\n Pass-Through\n Securities — 1.6%	\n
\n	\n Federal\n National Mortgage Association
\n 300,000 \n	\n Pool\n BZ0874 \n	\n 4.76% \n	\n 06/01/29 \n	\n 301,108 \n
\n	\n Government\n National Mortgage Association
\n 250,000 \n	\n Pool\n DO5687 \n	\n 5.72% \n	\n 06/15/53 \n	\n 250,470 \n
\n	\n \n	\n 551,578 \n
\n	\n Total\n U.S. Government Agency Mortgage-Backed Securities	\n 2,141,445 \n
\n	\n (Cost\n $2,143,080)	\n

See\nNotes to Financial Statements

Page\n33

First Trust AAA\nCMBS ETF (CAAA)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Shares \n	\n Description \n	\n Value \n
\n MONEY\n MARKET FUNDS — 2.0%
\n 707,168 \n	\n Morgan\n Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 3.54% (d)	\n $707,168 \n
\n	\n (Cost\n $707,168)	\n
\n
\n
\n	\n Total\n Investments — 99.8%	\n 35,133,333 \n
\n	\n (Cost\n $35,193,322)	\n
\n	\n Net\n Other Assets and Liabilities — 0.2%	\n 57,037 \n
\n	\n Net\n Assets — 100.0%	\n $35,190,370 \n

Futures Contracts at July\n31, 2026 (See Note 2D\n- Futures Contracts in the Notes to Financial Statements):

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Futures\n Contracts Long	\n Number of \n Contracts \n	\n Expiration \n Date \n	\n Notional \n Value \n	\n Unrealized \n Appreciation\n \n (Depreciation)/\n \n Value \n
\n U.S.\n 2-Year Treasury Notes	\n 46 \n	\n Sep-2026 \n	\n $9,458,031 \n	\n $(33,031 \n ) \n
\n U.S.\n 5-Year Treasury Notes	\n 15 \n	\n Sep-2026 \n	\n 1,589,649 \n	\n (8,930 \n ) \n
\n U.S.\n 10-Year Treasury Notes	\n 25 \n	\n Sep-2026 \n	\n 2,700,000 \n	\n (35,695 \n ) \n
\n Ultra\n 10 Year U.S. Treasury Notes	\n 7 \n	\n Sep-2026 \n	\n 767,922 \n	\n (14,851 \n ) \n
\n \n	\n	\n	\n $14,515,602 \n	\n $(92,507 \n ) \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Futures\n Contracts Short

\n \n

U.S.\n Treasury Long-Term Bond Futures

Sep-2026

$(108,313

)

$5,187

\n \n

Total

$14,407,289

$(87,320

)

\n \n \n \n \n \n \n \n \n \n \n \n \n

\n (a) \n	\n This\n security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under \n Rule\n 144A of the Securities Act of 1933, as amended, and may be resold in transactions exempt from registration, normally\n to \n qualified\n institutional buyers. Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined \n to\n be liquid by First Trust Advisors L.P., the Fund’s advisor. Although market instability can result in periods of increased overall\n \n market\n illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require \n subjective\n judgment. At July 31, 2026, securities noted as such amounted to $18,834,320 or 53.5% of net assets.
\n (b) \n	\n Collateral\n Strip Rate security. Coupon is based on the weighted net interest rate of the investment’s underlying collateral. The \n interest\n rate resets periodically.
\n (c) \n	\n Floating\n or variable rate security.
\n (d) \n	\n Rate\n shown reflects yield as of July 31, 2026.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

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

See\nNotes to Financial Statements

Page\n34

First Trust AAA\nCMBS ETF (CAAA)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

Valuation\nInputs

A summary\nof the inputs used to value the Fund’s investments as of July 31, 2026 is as follows (see Note 2A\n- Portfolio Valuation in the Notes to Financial Statements):

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n ASSETS\n TABLE
\n \n	\n Total\n \n Value\n at \n 7/31/2026 \n	\n Level\n 1 \n Quoted\n \n Prices \n	\n Level\n 2 \n Significant\n \n Observable\n \n Inputs \n	\n Level\n 3 \n Significant\n \n Unobservable\n \n Inputs \n
\n Mortgage-Backed\n Securities	\n $32,284,720 \n	\n $— \n	\n $32,284,720 \n	\n $— \n
\n U.S.\n Government Agency Mortgage-Backed Securities	\n 2,141,445 \n	\n — \n	\n 2,141,445 \n	\n — \n
\n Money\n Market Funds	\n 707,168 \n	\n 707,168 \n	\n — \n	\n — \n
\n Total\n Investments	\n 35,133,333 \n	\n 707,168 \n	\n 34,426,165 \n	\n — \n
\n Futures\n Contracts*	\n 5,187 \n	\n 5,187 \n	\n — \n	\n — \n
\n Total \n	\n $35,138,520 \n	\n $712,355 \n	\n $34,426,165 \n	\n $— \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

LIABILITIES\n TABLE

\n \n

Total\n

Value\n at

7/31/2026

Level\n 1

Quoted\n

Prices

Level\n 2

Significant\n

Observable\n

Inputs

Level\n 3

Significant\n

Unobservable\n

Inputs

Futures\n Contracts*

$(92,507

)

$(92,507

)

$—

\n \n \n \n

Includes\n cumulative appreciation/depreciation on futures contracts as reported in the Futures Contracts table. Only the current day’s

variation\n margin is presented on the Statements of Assets and Liabilities.

See\nNotes to Financial Statements

Page\n35

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES — 53.8%
\n	\n Collateralized\n Mortgage Obligations — 42.7%
\n	\n Ajax\n Mortgage Loan Trust	\n \n	\n \n	\n
\n $913,000 \n	\n Series\n 2021-E, Class A2 (a)	\n 2.69% \n	\n 12/25/60 \n	\n $694,663 \n
\n	\n BINOM\n Securitization Trust	\n \n	\n \n	\n
\n 6,150,000 \n	\n Series\n 2021-INV1, Class B1 (a)	\n 4.35% \n	\n 06/25/56 \n	\n 4,597,324 \n
\n	\n BRAVO\n Residential Funding Trust	\n \n	\n \n	\n
\n 380,000 \n	\n Series\n 2024-NQM5, Class B1 (a)	\n 7.38% \n	\n 06/25/64 \n	\n 383,884 \n
\n 255,000 \n	\n Series\n 2024-NQM6, Class B1 (a)	\n 7.30% \n	\n 08/01/64 \n	\n 257,521 \n
\n	\n CIM\n Trust	\n \n	\n \n	\n
\n 1,200,000 \n	\n Series\n 2019-R5, Class B2 (a) (b)	\n 5.00% \n	\n 09/25/59 \n	\n 1,132,745 \n
\n	\n Citigroup\n Mortgage Loan Trust	\n \n	\n \n	\n
\n 3,963,100 \n	\n Series\n 2020-EXP1, Class M1 (a) (b)	\n 4.47% \n	\n 05/25/60 \n	\n 3,555,477 \n
\n	\n COLT\n Mortgage Loan Trust	\n \n	\n \n	\n
\n 1,485,000 \n	\n Series\n 2021-5, Class B2 (a) (b)	\n 4.26% \n	\n 11/26/66 \n	\n 1,218,323 \n
\n 340,000 \n	\n Series\n 2021-HX1, Class B3A (a) (b)	\n 4.11% \n	\n 10/25/66 \n	\n 250,994 \n
\n	\n Connecticut\n Avenue Securities Trust	\n \n	\n \n	\n
\n 4,000,000 \n	\n Series\n 2021-R01, Class 1B2, 30 Day Average SOFR +\n \n 6.00%\n (a) (c)	\n 9.62% \n	\n 10/25/41 \n	\n 4,042,887 \n
\n 445,000 \n	\n Series\n 2022-R06, Class 1B2, 30 Day Average SOFR +\n \n 10.60%\n (a) (c)	\n 14.22% \n	\n 05/25/42 \n	\n 477,790 \n
\n 1,500,000 \n	\n Series\n 2023-R06, Class 1B2, 30 Day Average SOFR +\n \n 5.90%\n (a) (c)	\n 9.52% \n	\n 07/25/43 \n	\n 1,622,495 \n
\n	\n Credit\n Suisse Mortgage Trust	\n \n	\n \n	\n
\n 2,811,041 \n	\n Series\n 2021-NQM6, Class B1 (a)	\n 3.29% \n	\n 07/25/66 \n	\n 2,000,977 \n
\n 3,373,000 \n	\n Series\n 2021-NQM7, Class B2 (a) (b)	\n 4.35% \n	\n 10/25/66 \n	\n 2,887,961 \n
\n 2,792,899 \n	\n Series\n 2021-NQM8, Class B1 (a)	\n 4.21% \n	\n 10/25/66 \n	\n 2,201,440 \n
\n	\n Cross\n Mortgage Trust	\n \n	\n \n	\n
\n 450,000 \n	\n Series\n 2025-H6, Class B1B (a)	\n 7.54% \n	\n 07/25/70 \n	\n 446,297 \n
\n	\n Deephaven\n Residential Mortgage Trust	\n \n	\n \n	\n
\n 700,000 \n	\n Series\n 2021-2, Class M1 (a)	\n 2.22% \n	\n 04/25/66 \n	\n 556,311 \n
\n 500,000 \n	\n Series\n 2022-1, Class B1 (a)	\n 4.25% \n	\n 01/25/67 \n	\n 408,957 \n
\n	\n Easy\n Street Mortgage Loan Trust	\n \n	\n \n	\n
\n 1,950,000 \n	\n Series\n 2025-RTL2, Class A1, steps up to 7.50% on \n 12/25/27\n (a) (d)	\n 5.61% \n	\n 10/25/40 \n	\n 1,944,797 \n
\n	\n Ellington\n Financial Mortgage Trust	\n \n	\n \n	\n
\n 289,000 \n	\n Series\n 2019-2, Class M1 (a)	\n 3.47% \n	\n 11/25/59 \n	\n 275,570 \n
\n 1,345,000 \n	\n Series\n 2021-1, Class B2 (a)	\n 4.14% \n	\n 02/25/66 \n	\n 1,004,123 \n
\n 258,000 \n	\n Series\n 2024-INV1, Class B2 (a) (b)	\n 7.34% \n	\n 03/25/69 \n	\n 258,963 \n
\n 920,233 \n	\n Series\n 2025-NQM6, Class A3, steps up to 6.40% on \n 12/01/29\n (a) (d)	\n 5.40% \n	\n 12/25/70 \n	\n 911,022 \n
\n 1,673,000 \n	\n Series\n 2025-RTL1, Class M1 (a)	\n 6.39% \n	\n 11/25/40 \n	\n 1,664,405 \n
\n 860,000 \n	\n Series\n 2025-RTL1, Class M2 (a)	\n 8.33% \n	\n 11/25/40 \n	\n 858,771 \n
\n	\n FARM\n Mortgage Trust	\n \n	\n \n	\n
\n 308,333 \n	\n Series\n 2021-1, Class B (a) (b)	\n 3.22% \n	\n 07/25/51 \n	\n 243,308 \n
\n 481,601 \n	\n Series\n 2024-1, Class B (a) (b)	\n 5.05% \n	\n 10/01/53 \n	\n 418,662 \n
\n 1,632,106 \n	\n Series\n 2025-2, Class B (a) (b)	\n 5.71% \n	\n 09/25/55 \n	\n 1,435,720 \n
\n	\n Fidelis\n Mortgage Trust	\n \n	\n \n	\n
\n 1,940,000 \n	\n Series\n 2025-RTL1, Class A2 (a)	\n 6.22% \n	\n 02/27/40 \n	\n 1,942,906 \n
\n 1,260,000 \n	\n Series\n 2025-RTL2, Class A1 (a) (d)	\n 5.57% \n	\n 07/25/40 \n	\n 1,259,920 \n

See\nNotes to Financial Statements

Page\n36

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Collateralized\n Mortgage Obligations (Continued)
\n	\n Fidelis\n Mortgage Trust (Continued)	\n \n	\n \n	\n
\n $2,700,000 \n	\n Series\n 2025-RTL2, Class A2, steps up to 7.06% on \n 02/25/28\n (a) (d)	\n 6.06% \n	\n 07/25/40 \n	\n $2,695,399 \n
\n 1,450,000 \n	\n Series\n 2026-RTL2, Class B (a)	\n 7.90% \n	\n 07/25/41 \n	\n 1,431,253 \n
\n	\n Flagstar\n Mortgage Trust	\n \n	\n \n	\n
\n 1,609,090 \n	\n Series\n 2020-2, Class B3 (a) (b)	\n 3.65% \n	\n 08/25/50 \n	\n 1,396,800 \n
\n	\n Galton\n Funding Mortgage Trust	\n \n	\n \n	\n
\n 110,128 \n	\n Series\n 2018-2, Class B2 (a)	\n 4.51% \n	\n 10/25/58 \n	\n 105,360 \n
\n	\n GCAT\n Trust	\n \n	\n \n	\n
\n 853,328 \n	\n Series\n 2025-INV5, Class A28, 30 Day Average SOFR +\n \n 1.50%\n (a) (c)	\n 5.12% \n	\n 12/25/55 \n	\n 854,510 \n
\n	\n GS\n Mortgage-Backed Securities Trust	\n \n	\n \n	\n
\n 1,795,000 \n	\n Series\n 2020-NQM1, Class B1 (a)	\n 5.14% \n	\n 09/27/60 \n	\n 1,724,239 \n
\n 1,500,000 \n	\n Series\n 2022-LTV1, Class A14 (a)	\n 3.00% \n	\n 06/25/52 \n	\n 1,048,965 \n
\n 929,828 \n	\n Series\n 2025-PJ11, Class A27, 30 Day Average SOFR +\n \n 1.35%\n (a) (c)	\n 4.97% \n	\n 05/25/56 \n	\n 932,160 \n
\n	\n HOMES\n Trust	\n \n	\n \n	\n
\n 3,500,000 \n	\n Series\n 2025-NQM2, Class B2 (a) (b)	\n 7.37% \n	\n 02/25/70 \n	\n 3,449,931 \n
\n	\n Homeward\n Opportunities Fund Trust	\n \n	\n \n	\n
\n 1,000,000 \n	\n Series\n 2024-RRTL2, Class M1 (a)	\n 8.16% \n	\n 09/25/39 \n	\n 1,000,730 \n
\n 654,000 \n	\n Series\n 2024-RRTL2, Class M2 (a) (b)	\n 9.08% \n	\n 09/25/39 \n	\n 656,985 \n
\n	\n J.P.\n Morgan Mortgage Trust	\n \n	\n \n	\n
\n 3,749,000 \n	\n Series\n 2022-DSC1, Class M1 (a)	\n 4.95% \n	\n 01/25/63 \n	\n 3,390,485 \n
\n	\n JP\n Morgan Mortgage Trust	\n \n	\n \n	\n
\n 279,764 \n	\n Series\n 2020-INV1, Class A15 (a)	\n 3.50% \n	\n 08/25/50 \n	\n 246,530 \n
\n 264,743 \n	\n Series\n 2020-INV1, Class B4 (a) (b)	\n 4.17% \n	\n 08/25/50 \n	\n 234,062 \n
\n 81,459 \n	\n Series\n 2020-INV1, Class B5 (a) (b)	\n 4.17% \n	\n 08/25/50 \n	\n 70,956 \n
\n 293,959 \n	\n Series\n 2020-INV1, Class B6Z (a) (e)	\n 7.03% \n	\n 08/25/50 \n	\n 263,839 \n
\n 1,505,274 \n	\n Series\n 2021-12, Class B5 (a) (b)	\n 3.16% \n	\n 02/25/52 \n	\n 1,204,560 \n
\n 635,177 \n	\n Series\n 2026-1, Class A11, 30 Day Average SOFR +\n 1.10% (a) (c)	\n 4.72% \n	\n 07/25/56 \n	\n 630,438 \n
\n	\n LHOME\n Mortgage Trust	\n \n	\n \n	\n
\n 3,500,000 \n	\n Series\n 2024-RTL5, Class M2 (a)	\n 8.18% \n	\n 09/25/39 \n	\n 3,508,947 \n
\n	\n MFA\n Trust	\n \n	\n \n	\n
\n 1,170,000 \n	\n Series\n 2024-RTL3, Class A1, steps up to 6.91% on \n 04/25/27\n (a) (d)	\n 5.91% \n	\n 11/25/39 \n	\n 1,172,450 \n
\n 1,000,000 \n	\n Series\n 2024-RTL3, Class A2, steps up to 7.53% on \n 04/25/27\n (a) (d)	\n 6.54% \n	\n 11/25/39 \n	\n 1,003,656 \n
\n	\n Mill\n City Mortgage Loan Trust	\n \n	\n \n	\n
\n 1,025,000 \n	\n Series\n 2019-GS2, Class B2 (a) (b)	\n 3.25% \n	\n 08/25/59 \n	\n 780,016 \n
\n	\n Morgan\n Stanley Residential Mortgage Loan Trust	\n \n	\n \n	\n
\n 290,000 \n	\n Series\n 2025-SPL1, Class B1, steps up to 5.25% on \n 09/01/29\n (a) (d)	\n 4.25% \n	\n 02/25/65 \n	\n 258,191 \n
\n 380,000 \n	\n Series\n 2025-SPL1, Class M1, steps up to 5.25% on \n 09/01/29\n (a) (d)	\n 4.25% \n	\n 02/25/65 \n	\n 353,523 \n
\n	\n New\n Residential Mortgage Loan Trust	\n \n	\n \n	\n
\n 377,319 \n	\n Series\n 2014-3A, Class B4 (a) (b)	\n 5.27% \n	\n 11/25/54 \n	\n 371,165 \n
\n 1,080,000 \n	\n Series\n 2019-NQM4, Class B2 (a) (e)	\n 5.06% \n	\n 09/25/59 \n	\n 992,385 \n
\n 2,872,000 \n	\n Series\n 2021-NQ1R, Class B1 (a)	\n 3.53% \n	\n 07/25/55 \n	\n 2,456,228 \n
\n 930,000 \n	\n Series\n 2021-NQ1R, Class B2 (a)	\n 4.33% \n	\n 07/25/55 \n	\n 813,277 \n
\n 3,545,000 \n	\n Series\n 2023-NQM1, Class B2 (a) (b)	\n 7.41% \n	\n 10/25/63 \n	\n 3,548,117 \n

See\nNotes to Financial Statements

Page\n37

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Collateralized\n Mortgage Obligations (Continued)
\n	\n New\n Residential Mortgage Loan Trust (Continued)	\n \n	\n \n	\n
\n $785,000 \n	\n Series\n 2024-NQM1, Class B2 (a) (b)	\n 7.88% \n	\n 03/25/64 \n	\n $791,388 \n
\n 440,000 \n	\n Series\n 2024-NQM3, Class B2 (a) (b)	\n 7.14% \n	\n 11/25/64 \n	\n 443,956 \n
\n	\n NLT\n Trust	\n \n	\n \n	\n
\n 334,000 \n	\n Series\n 2021-INV2, Class B1 (a)	\n 3.32% \n	\n 08/25/56 \n	\n 246,632 \n
\n	\n Onslow\n Bay Mortgage Loan Trust	\n \n	\n \n	\n
\n 620,000 \n	\n Series\n 2022-NQM2, Class A1B (a)	\n 4.38% \n	\n 01/25/62 \n	\n 567,797 \n
\n	\n PMT\n Loan Trust	\n \n	\n \n	\n
\n 1,220,155 \n	\n Series\n 2026-CNF4, Class A23, 30 Day Average SOFR +\n \n 1.35%\n (a) (c)	\n 4.97% \n	\n 05/25/57 \n	\n 1,222,245 \n
\n 1,314,245 \n	\n Series\n 2026-INV1, Class A36, 30 Day Average SOFR +\n \n 1.30%\n (a) (c)	\n 4.92% \n	\n 01/25/57 \n	\n 1,310,823 \n
\n 1,924,829 \n	\n Series\n 2026-INV3, Class A36, 30 Day Average SOFR +\n \n 1.35%\n (a) (c)	\n 4.97% \n	\n 02/25/57 \n	\n 1,926,525 \n
\n 889,119 \n	\n Series\n 2026-J1, Class A25, 30 Day Average SOFR +\n \n 1.15%\n (a) (c)	\n 4.77% \n	\n 01/25/57 \n	\n 884,084 \n
\n	\n PRET\n LLC	\n \n	\n \n	\n
\n 375,000 \n	\n Series\n 2025-NPL11, Class A2, steps up to 11.02% on \n 09/25/29\n (a) (d)	\n 7.02% \n	\n 10/25/55 \n	\n 375,960 \n
\n 630,513 \n	\n Series\n 2025-NPL6, Class A1, steps up to 8.74% on \n 06/25/28\n (a) (d)	\n 5.74% \n	\n 06/25/55 \n	\n 631,413 \n
\n 300,000 \n	\n Series\n 2025-NPL6, Class A2, steps up to 12.72% on \n 06/25/29\n (a) (d)	\n 8.72% \n	\n 06/25/55 \n	\n 300,678 \n
\n 259,095 \n	\n Series\n 2025-NPL7, Class A1, steps up to 8.65% on \n 07/25/28\n (a) (d)	\n 5.66% \n	\n 07/25/55 \n	\n 259,388 \n
\n 500,000 \n	\n Series\n 2025-NPL9, Class A2, steps up to 11.51% on \n 08/25/29\n (a) (d)	\n 7.51% \n	\n 08/25/55 \n	\n 500,728 \n
\n 1,100,000 \n	\n Series\n 2026-NPL1, Class A2, steps up to 10.53% on \n 12/25/29\n (a) (d)	\n 6.54% \n	\n 01/25/56 \n	\n 1,094,909 \n
\n 1,222,151 \n	\n Series\n 2026-NPL2, Class A1, steps up to 8.15% on \n 01/25/29\n (a) (d)	\n 5.07% \n	\n 02/25/56 \n	\n 1,212,890 \n
\n 2,418,345 \n	\n Series\n 2026-NPL4, Class A1, steps up to 8.51% on \n 03/25/29\n (a) (d)	\n 5.51% \n	\n 04/25/56 \n	\n 2,409,187 \n
\n 2,000,000 \n	\n Series\n 2026-NPL4, Class A2, steps up to 10.14% on \n 03/25/30\n (a) (d)	\n 7.14% \n	\n 04/25/56 \n	\n 2,002,427 \n
\n 976,053 \n	\n Series\n 2026-NPL5, Class A1, steps up to 8.66% on \n 04/25/29\n (a) (d)	\n 5.71% \n	\n 04/25/56 \n	\n 974,879 \n
\n 2,000,000 \n	\n Series\n 2026-NPL5, Class A2, steps up to 11.38% on \n 04/25/30\n (a) (d)	\n 7.05% \n	\n 04/25/56 \n	\n 1,994,486 \n
\n	\n PRET\n Trust	\n \n	\n \n	\n
\n 3,190,000 \n	\n Series\n 2026-RPL3, Class M2, steps up to 5.40% on \n 06/01/30\n (a) (d)	\n 4.40% \n	\n 06/25/70 \n	\n 2,856,050 \n
\n	\n PRKCM\n Trust	\n \n	\n \n	\n
\n 1,000,000 \n	\n Series\n 2022-AFC1, Class M1 (a) (b)	\n 4.16% \n	\n 04/25/57 \n	\n 917,544 \n
\n 371,000 \n	\n Series\n 2023-AFC1, Class M1 (a) (b)	\n 7.29% \n	\n 02/25/58 \n	\n 370,097 \n
\n	\n PRPM \n	\n \n	\n \n	\n
\n 1,500,000 \n	\n Series\n 2024-NQM3, Class B1 (a) (b)	\n 7.30% \n	\n 08/25/69 \n	\n 1,504,324 \n
\n 853,314 \n	\n Series\n 2025-3, Class A1, steps up to 9.25% on 05/01/28 (a) (d)	\n 6.26% \n	\n 05/25/30 \n	\n 853,218 \n
\n	\n PRPM\n LLC	\n \n	\n \n	\n
\n 1,426,000 \n	\n Series\n 2023-RCF2, Class A3, steps up to 5.00% on \n 11/25/27\n (a) (d)	\n 4.00% \n	\n 11/25/53 \n	\n 1,399,430 \n

See\nNotes to Financial Statements

Page\n38

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Collateralized\n Mortgage Obligations (Continued)
\n	\n PRPM\n LLC (Continued)	\n \n	\n \n	\n
\n $400,000 \n	\n Series\n 2024-8, Class A2, steps up to 11.83% on 12/25/27 (a) (d)	\n 8.84% \n	\n 12/25/29 \n	\n $400,335 \n
\n 2,066,000 \n	\n Series\n 2024-RCF1, Class A3, steps up to 5.00% on \n 01/25/28\n (a) (d)	\n 4.00% \n	\n 01/25/54 \n	\n 2,020,353 \n
\n 1,550,000 \n	\n Series\n 2024-RCF4, Class A2, steps up to 5.00% on \n 07/25/28\n (a) (d)	\n 4.00% \n	\n 07/25/54 \n	\n 1,507,997 \n
\n 1,542,000 \n	\n Series\n 2024-RCF4, Class M1, steps up to 5.00% on \n 07/25/28\n (a) (d)	\n 4.00% \n	\n 07/25/54 \n	\n 1,493,172 \n
\n 1,000,000 \n	\n Series\n 2024-RCF5, Class A2, steps up to 5.00% on \n 08/25/28\n (a) (d)	\n 4.00% \n	\n 08/25/54 \n	\n 970,155 \n
\n 3,171,000 \n	\n Series\n 2024-RPL3, Class M1, steps up to 5.00% on \n 11/25/28\n (a) (d)	\n 4.00% \n	\n 11/25/54 \n	\n 3,047,179 \n
\n 2,993,000 \n	\n Series\n 2024-RPL3, Class M2, steps up to 5.00% on \n 11/25/28\n (a) (d)	\n 4.00% \n	\n 11/25/54 \n	\n 2,805,864 \n
\n 325,000 \n	\n Series\n 2024-RPL4, Class M2, steps up to 5.00% on \n 12/25/28\n (a) (d)	\n 4.00% \n	\n 12/25/54 \n	\n 298,670 \n
\n 2,000,000 \n	\n Series\n 2025-5, Class A2, steps up to 11.56% on 07/01/28 (a) (d)	\n 8.57% \n	\n 07/25/30 \n	\n 1,992,293 \n
\n 1,000,000 \n	\n Series\n 2025-6, Class M1 (a)	\n 10.56% \n	\n 08/25/28 \n	\n 994,622 \n
\n 427,653 \n	\n Series\n 2025-7, Class A1, steps up to 8.50% on 08/01/28 (a) (d)	\n 5.50% \n	\n 08/25/30 \n	\n 426,243 \n
\n 500,000 \n	\n Series\n 2025-8, Class A2, steps up to 10.19% on 10/01/28 (a) (d)	\n 7.20% \n	\n 10/25/30 \n	\n 498,582 \n
\n 290,000 \n	\n Series\n 2025-RCF4, Class M2, steps up to 5.50% on \n 08/01/29\n (a) (d)	\n 4.50% \n	\n 08/25/55 \n	\n 271,493 \n
\n 1,000,000 \n	\n Series\n 2025-RCF5, Class A3, steps up to 6.46% on \n 10/01/29\n (a) (d)	\n 5.46% \n	\n 10/25/55 \n	\n 991,095 \n
\n 600,000 \n	\n Series\n 2025-RCF6, Class M1, steps up to 6.50% on \n 12/01/29\n (a) (d)	\n 5.50% \n	\n 12/25/55 \n	\n 587,395 \n
\n 350,000 \n	\n Series\n 2025-RPL3, Class M1, steps up to 4.25% on \n 04/01/28\n (a) (d)	\n 3.25% \n	\n 04/25/55 \n	\n 333,869 \n
\n 2,452,447 \n	\n Series\n 2026-4, Class A1, steps up to 9.30% on 06/01/29 (a) (d)	\n 6.30% \n	\n 06/25/31 \n	\n 2,454,743 \n
\n 2,000,000 \n	\n Series\n 2026-4, Class A2, steps up to 9.82% on 06/01/29 (a) (d)	\n 6.82% \n	\n 06/25/31 \n	\n 1,999,463 \n
\n 2,049,000 \n	\n Series\n 2026-RCF2, Class M1 (a)	\n 5.50% \n	\n 03/25/56 \n	\n 1,983,594 \n
\n 1,950,000 \n	\n Series\n 2026-RCF2, Class M2 (a)	\n 5.50% \n	\n 03/25/56 \n	\n 1,833,996 \n
\n 2,690,000 \n	\n Series\n 2026-RCF3, Class M1 (a)	\n 5.25% \n	\n 05/25/56 \n	\n 2,574,188 \n
\n 1,140,000 \n	\n Series\n 2026-RCF3, Class M2 (a)	\n 5.25% \n	\n 05/25/56 \n	\n 1,090,089 \n
\n	\n PRPM\n Trust	\n \n	\n \n	\n
\n 2,150,000 \n	\n Series\n 2023-NQM3, Class B2 (a) (b)	\n 7.31% \n	\n 11/25/68 \n	\n 2,155,705 \n
\n 990,000 \n	\n Series\n 2026-RCF1, Class M2, steps up to 6.50% on \n 01/01/30\n (a) (d)	\n 5.50% \n	\n 01/25/56 \n	\n 947,137 \n
\n	\n Rate\n Mortgage Trust	\n \n	\n \n	\n
\n 887,317 \n	\n Series\n 2025-J3, Class A27, 30 Day Average SOFR +\n \n 1.55%\n (a) (c)	\n 5.17% \n	\n 11/25/55 \n	\n 890,578 \n
\n	\n RCO\n IX Mortgage LLC	\n \n	\n \n	\n
\n 527,419 \n	\n Series\n 2025-4, Class A1, steps up to 8.30% on 10/25/28 (a) (d)	\n 5.31% \n	\n 10/25/30 \n	\n 527,456 \n
\n 4,150,000 \n	\n Series\n 2025-4, Class A2, steps up to 10.90% on 10/25/28 (a) (d)	\n 6.90% \n	\n 10/25/30 \n	\n 4,147,732 \n
\n 2,883,828 \n	\n Series\n 2026-2, Class A1, steps up to 8.76% on 05/25/29 (a) (d)	\n 5.76% \n	\n 05/25/31 \n	\n 2,874,245 \n
\n 2,750,000 \n	\n Series\n 2026-2, Class M1, steps up to 13.07% on 05/25/29 (a) (d)	\n 9.08% \n	\n 05/25/31 \n	\n 2,735,491 \n
\n	\n Redwood\n Funding Trust	\n \n	\n \n	\n
\n 1,235,097 \n	\n Series\n 2025-3, Class A (a)	\n 6.23% \n	\n 12/27/56 \n	\n 1,245,632 \n
\n 3,505,000 \n	\n Series\n 2025-3, Class B (a)	\n 7.75% \n	\n 12/27/56 \n	\n 3,528,041 \n
\n 2,563,470 \n	\n Series\n 2026-1, Class A, steps up to 9.00% on 02/27/28 (a) (d)	\n 5.93% \n	\n 09/27/56 \n	\n 2,554,870 \n
\n 4,500,000 \n	\n Series\n 2026-1, Class B, steps up to 10.60% on 07/27/28 (a) (d)	\n 7.76% \n	\n 09/27/56 \n	\n 4,487,026 \n

See\nNotes to Financial Statements

Page\n39

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Collateralized\n Mortgage Obligations (Continued)
\n	\n Redwood\n Funding Trust (Continued)	\n \n	\n \n	\n
\n $6,572,143 \n	\n Series\n 2026-2, Class A (a)	\n 6.26% \n	\n 11/27/56 \n	\n $6,568,101 \n
\n 1,785,000 \n	\n Series\n 2026-2, Class B (a)	\n 8.00% \n	\n 11/27/56 \n	\n 1,783,704 \n
\n 3,690,000 \n	\n Series\n 2026-RR1, Class A1, steps up to 9.55% on \n 07/27/28\n (a) (d) (f)	\n 6.63% \n	\n 07/27/30 \n	\n 3,689,947 \n
\n 2,525,000 \n	\n Series\n 2026-RR1, Class A2, steps up to 11.28% on \n 07/27/28\n (a) (d) (f)	\n 7.99% \n	\n 07/27/30 \n	\n 2,524,995 \n
\n	\n Residential\n Mortgage Loan Trust	\n \n	\n \n	\n
\n 3,340,000 \n	\n Series\n 2021-1R, Class B2 (a)	\n 4.47% \n	\n 01/25/65 \n	\n 3,035,374 \n
\n	\n Saluda\n Grade Alternative Mortgage Trust	\n \n	\n \n	\n
\n 325,000 \n	\n Series\n 2024-INV1, Class B1 (a) (b)	\n 6.85% \n	\n 08/25/59 \n	\n 324,593 \n
\n	\n Saluds\n Grade Alternative Mortgage Trust	\n \n	\n \n	\n
\n 500,000 \n	\n Series\n 2025-RRTL1, Class M2 (a)	\n 8.42% \n	\n 10/25/40 \n	\n 488,392 \n
\n	\n Sequoia\n Mortgage Trust	\n \n	\n \n	\n
\n 1,580,845 \n	\n Series\n 2026-HYB1, Class A1B (a)	\n 4.67% \n	\n 04/25/56 \n	\n 1,535,180 \n
\n	\n SG\n Residential Mortgage Trust	\n \n	\n \n	\n
\n 521,000 \n	\n Series\n 2019-3, Class B2 (a)	\n 5.66% \n	\n 09/25/59 \n	\n 497,794 \n
\n 884,858 \n	\n Series\n 2022-1, Class A1 (a)	\n 3.95% \n	\n 03/27/62 \n	\n 826,517 \n
\n	\n Starwood\n Mortgage Residential Trust	\n \n	\n \n	\n
\n 895,000 \n	\n Series\n 2020-3, Class B2 (a) (b)	\n 4.75% \n	\n 04/25/65 \n	\n 762,876 \n
\n	\n Toorak\n Mortgage Trust	\n \n	\n \n	\n
\n 750,000 \n	\n Series\n 2024-2, Class A2, steps up to 10.15% on 04/25/27 (a) (d)	\n 8.65% \n	\n 10/25/31 \n	\n 753,093 \n
\n	\n Towd\n Point Mortgage Trust	\n \n	\n \n	\n
\n 1,250,000 \n	\n Series\n 2017-4, Class B4 (a)	\n 3.64% \n	\n 06/25/57 \n	\n 954,941 \n
\n	\n VCAT\n LLC	\n \n	\n \n	\n
\n 2,601,719 \n	\n Series\n 2026-NPL2, Class A1, steps up to 8.06% on \n 02/25/29\n (a) (d)	\n 5.06% \n	\n 02/25/56 \n	\n 2,585,474 \n
\n 1,063,873 \n	\n Series\n 2026-NPL3, Class A1, steps up to 8.56% on \n 05/25/29\n (a) (d)	\n 5.57% \n	\n 05/25/56 \n	\n 1,063,280 \n
\n	\n Verus\n Securitization Trust	\n \n	\n \n	\n
\n 4,598,000 \n	\n Series\n 2021-4, Class B2 (a)	\n 3.81% \n	\n 07/25/66 \n	\n 3,267,510 \n
\n 367,000 \n	\n Series\n 2021-5, Class B2 (a)	\n 3.94% \n	\n 09/25/66 \n	\n 275,060 \n
\n 3,240,000 \n	\n Series\n 2021-6, Class B2 (a)	\n 4.53% \n	\n 10/25/66 \n	\n 2,565,252 \n
\n 1,500,000 \n	\n Series\n 2021-8, Class B2 (a)	\n 4.33% \n	\n 11/25/66 \n	\n 1,162,541 \n
\n 375,000 \n	\n Series\n 2021-R2, Class B2 (a)	\n 4.26% \n	\n 02/25/64 \n	\n 308,827 \n
\n 735,000 \n	\n Series\n 2022-1, Class B1 (a)	\n 4.01% \n	\n 01/25/67 \n	\n 569,855 \n
\n 3,305,000 \n	\n Series\n 2022-1, Class B2 (a) (b)	\n 3.97% \n	\n 01/25/67 \n	\n 2,447,737 \n
\n 3,760,792 \n	\n Series\n 2022-3, Class A3 (a)	\n 4.13% \n	\n 02/25/67 \n	\n 3,534,215 \n
\n 1,100,000 \n	\n Series\n 2023-6, Class B2 (a) (b)	\n 7.75% \n	\n 09/25/68 \n	\n 1,098,870 \n
\n 265,000 \n	\n Series\n 2024-2, Class B1 (a)	\n 7.86% \n	\n 02/25/69 \n	\n 267,267 \n
\n 4,000,000 \n	\n Series\n 2024-2, Class B2 (a) (b)	\n 8.67% \n	\n 02/25/69 \n	\n 4,037,311 \n
\n 385,000 \n	\n Series\n 2024-3, Class B1 (a)	\n 8.03% \n	\n 04/25/69 \n	\n 390,083 \n
\n 125,000 \n	\n Series\n 2024-5, Class B1 (a)	\n 7.79% \n	\n 06/25/69 \n	\n 126,871 \n
\n 248,000 \n	\n Series\n 2024-6, Class B1 (a) (b)	\n 7.22% \n	\n 07/25/69 \n	\n 250,421 \n
\n 1,500,000 \n	\n Series\n 2024-7, Class B2 (a) (b)	\n 7.78% \n	\n 09/25/69 \n	\n 1,506,697 \n
\n 510,000 \n	\n Series\n 2024-INV2, Class B2 (a) (b)	\n 7.90% \n	\n 08/26/69 \n	\n 513,972 \n
\n 315,000 \n	\n Series\n 2025-1, Class B1 (a)	\n 7.01% \n	\n 01/25/70 \n	\n 316,661 \n
\n 3,063,000 \n	\n Series\n 2025-4, Class B2 (a) (b)	\n 7.45% \n	\n 05/25/70 \n	\n 3,067,683 \n
\n 150,000 \n	\n Series\n 2025-INV1, Class B1 (a)	\n 6.95% \n	\n 02/25/70 \n	\n 151,083 \n

See\nNotes to Financial Statements

Page\n40

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Collateralized\n Mortgage Obligations (Continued)
\n	\n Visio\n Trust	\n \n	\n \n	\n
\n $330,000 \n	\n Series\n 2023-2, Class M1 (a) (b)	\n 7.71% \n	\n 10/25/58 \n	\n $329,114 \n
\n	\n Wells\n Fargo Mortgage Backed Securities Trust	\n \n	\n \n	\n
\n 840,579 \n	\n Series\n 2020-1, Class B2 (a) (b)	\n 3.36% \n	\n 12/25/49 \n	\n 735,503 \n
\n	\n \n	\n 213,586,525 \n
\n	\n Commercial\n Mortgage-Backed Securities — 11.1%
\n	\n BANK \n	\n \n	\n \n	\n
\n 2,046,743 \n	\n Series\n 2019-BN16, Class XA, IO (b)	\n 0.93% \n	\n 02/15/52 \n	\n 35,572 \n
\n 2,712,313 \n	\n Series\n 2019-BN21, Class XA, IO (b)	\n 0.81% \n	\n 10/17/52 \n	\n 56,505 \n
\n 1,045,166 \n	\n Series\n 2019-BN22, Class XA, IO (b)	\n 0.58% \n	\n 11/15/62 \n	\n 17,150 \n
\n 478,000 \n	\n Series\n 2020-BN25, Class A5	\n 2.65% \n	\n 01/15/63 \n	\n 440,252 \n
\n 7,500,000 \n	\n Series\n 2021-BN31, Class XB, IO (b)	\n 0.87% \n	\n 02/15/54 \n	\n 250,255 \n
\n 9,994,337 \n	\n Series\n 2023-BNK46, Class XA, IO (b)	\n 0.62% \n	\n 08/15/56 \n	\n 299,630 \n
\n	\n BBCMS\n Mortgage Trust	\n \n	\n \n	\n
\n 3,368,000 \n	\n Series\n 2018-TALL, Class A, 1 Mo. CME Term SOFR +\n CSA +\n \n 0.87%\n (a) (c)	\n 4.60% \n	\n 03/15/37 \n	\n 3,188,281 \n
\n 3,283,711 \n	\n Series\n 2020-C6, Class XA, IO (b)	\n 1.02% \n	\n 02/15/53 \n	\n 92,651 \n
\n 1,230,551 \n	\n Series\n 2020-C7, Class XA, IO (b)	\n 1.59% \n	\n 04/15/53 \n	\n 44,935 \n
\n 4,998,412 \n	\n Series\n 2024-5C25, Class XA, IO (b)	\n 1.19% \n	\n 03/15/57 \n	\n 130,403 \n
\n	\n Benchmark\n Mortgage Trust	\n \n	\n \n	\n
\n 4,911,427 \n	\n Series\n 2019-B13, Class XA, IO (b)	\n 1.08% \n	\n 08/15/57 \n	\n 130,445 \n
\n 1,221,555 \n	\n Series\n 2020-B20, Class XA, IO (b)	\n 1.51% \n	\n 10/15/53 \n	\n 50,037 \n
\n 4,144,032 \n	\n Series\n 2021-B29, Class XA, IO (b)	\n 0.99% \n	\n 09/15/54 \n	\n 126,086 \n
\n 4,434,962 \n	\n Series\n 2024-V6, Class XA, IO (b)	\n 1.33% \n	\n 03/15/57 \n	\n 129,482 \n
\n	\n BMO\n Mortgage Trust	\n \n	\n \n	\n
\n 9,495,405 \n	\n Series\n 2025-C13, Class XA, IO (b)	\n 1.01% \n	\n 10/15/58 \n	\n 692,543 \n
\n	\n BWAY\n Trust	\n \n	\n \n	\n
\n 415,000 \n	\n Series\n 2025-1535, Class A (a) (b)	\n 6.31% \n	\n 05/05/42 \n	\n 416,506 \n
\n 1,000,000 \n	\n Series\n 2025-1535, Class B (a) (b)	\n 7.46% \n	\n 05/05/42 \n	\n 1,029,311 \n
\n	\n BX\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 1,382,973 \n	\n Series\n 2019-IMC, Class A, 1 Mo. CME Term SOFR +\n CSA +\n \n 1.00%\n (a) (c)	\n 4.72% \n	\n 04/15/34 \n	\n 1,376,920 \n
\n 2,000,000 \n	\n Series\n 2026-VLT10, Class C (a) (b)	\n 6.40% \n	\n 07/13/58 \n	\n 1,928,145 \n
\n	\n BX\n Trust	\n \n	\n \n	\n
\n 2,000,000 \n	\n Series\n 2025-DELC, Class D, 1 Mo. CME Term SOFR +\n \n 2.60%\n (a) (c)	\n 6.28% \n	\n 12/15/42 \n	\n 2,009,686 \n
\n 600,000 \n	\n Series\n 2025-DELC, Class E, 1 Mo. CME Term SOFR +\n \n 3.05%\n (a) (c)	\n 6.73% \n	\n 12/15/42 \n	\n 601,651 \n
\n 2,500,000 \n	\n Series\n 2025-VOLT, Class A, 1 Mo. CME Term SOFR +\n \n 1.70%\n (a) (c)	\n 5.38% \n	\n 12/15/44 \n	\n 2,497,994 \n
\n	\n CALI \n	\n \n	\n \n	\n
\n 739,000 \n	\n Series\n 2024-SUN, Class A, 1 Mo. CME Term SOFR +\n \n 1.89%\n (a) (c)	\n 5.56% \n	\n 07/15/41 \n	\n 739,979 \n
\n 300,000 \n	\n Series\n 2024-SUN, Class D, 1 Mo. CME Term SOFR +\n \n 3.63%\n (a) (c)	\n 7.30% \n	\n 07/15/41 \n	\n 299,517 \n
\n	\n CFCRE\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 6,936,271 \n	\n Series\n 2017-C8, Class XA, IO (b)	\n 1.43% \n	\n 06/15/50 \n	\n 29,949 \n
\n	\n CONE\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 3,375,000 \n	\n Series\n 2026-ACD6, Class A (a)	\n 6.06% \n	\n 07/15/43 \n	\n 3,353,189 \n
\n 3,000,000 \n	\n Series\n 2026-DFW3, Class E (a) (b)	\n 7.84% \n	\n 05/15/43 \n	\n 2,991,324 \n

See\nNotes to Financial Statements

Page\n41

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Commercial\n Mortgage-Backed Securities (Continued)
\n	\n GGP\n Trust	\n \n	\n \n	\n
\n $3,494,754 \n	\n Series\n 2026-2PAK, Class A (b)	\n 5.83% \n	\n 05/10/43 \n	\n $3,477,680 \n
\n	\n Great\n Wolf Trust	\n \n	\n \n	\n
\n 2,000,000 \n	\n Series\n 2024-WOLF, Class A, 1 Mo. CME Term SOFR +\n \n 1.54%\n (a) (c)	\n 5.22% \n	\n 03/15/39 \n	\n 2,004,946 \n
\n	\n GS\n Mortgage Securities Trust	\n \n	\n \n	\n
\n 920,200 \n	\n Series\n 2020-GC45, Class XA, IO (b)	\n 0.61% \n	\n 02/13/53 \n	\n 15,568 \n
\n 1,641,125 \n	\n Series\n 2020-GC47, Class XA, IO (b)	\n 1.12% \n	\n 05/12/53 \n	\n 56,536 \n
\n	\n JP\n Morgan Chase Commercial Mortgage Securities Trust	\n \n	\n \n	\n
\n 3,859,966 \n	\n Series\n 2019-COR5, Class XA, IO (b)	\n 1.41% \n	\n 06/13/52 \n	\n 117,497 \n
\n	\n KRE\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 2,109,750 \n	\n Series\n 2026-ICNA, Class A, 1 Mo. CME Term SOFR +\n \n 1.85%\n (a) (c)	\n 5.53% \n	\n 05/15/43 \n	\n 2,116,305 \n
\n	\n MCR\n Mortgage Trust	\n \n	\n \n	\n
\n 2,690,000 \n	\n Series\n 2024-TWA, Class A (a)	\n 5.92% \n	\n 06/12/39 \n	\n 2,696,440 \n
\n 300,000 \n	\n Series\n 2024-TWA, Class E (a)	\n 8.73% \n	\n 06/12/39 \n	\n 299,997 \n
\n 1,715,000 \n	\n Series\n 2024-TWA, Class F (a)	\n 10.38% \n	\n 06/12/39 \n	\n 1,724,214 \n
\n	\n Morgan\n Stanley Capital I Trust	\n \n	\n \n	\n
\n 11,168,098 \n	\n Series\n 2019-L2, Class XA, IO (b)	\n 0.99% \n	\n 03/15/52 \n	\n 230,133 \n
\n 5,598,687 \n	\n Series\n 2019-L3, Class XA, IO (b)	\n 0.60% \n	\n 11/15/52 \n	\n 93,074 \n
\n	\n NYO\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 320,000 \n	\n Series\n 2021-1290, Class D, 1 Mo. CME Term SOFR +\n CSA +\n \n 2.54%\n (a) (c)	\n 6.34% \n	\n 11/15/38 \n	\n 319,132 \n
\n	\n One\n New York Plaza Trust	\n \n	\n \n	\n
\n 2,048,281 \n	\n Series\n 2020-1NYP, Class A, 1 Mo. CME Term SOFR +\n CSA +\n \n 0.95%\n (a) (c)	\n 4.74% \n	\n 01/15/36 \n	\n 1,995,986 \n
\n	\n SFO\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 500,000 \n	\n Series\n 2021-555, Class A, 1 Mo. CME Term SOFR +\n CSA +\n \n 1.40%\n (a) (c)	\n 5.19% \n	\n 05/15/38 \n	\n 499,929 \n
\n 1,000,000 \n	\n Series\n 2021-555, Class D, 1 Mo. CME Term SOFR +\n CSA +\n \n 2.40%\n (a) (c)	\n 6.44% \n	\n 05/15/38 \n	\n 999,653 \n
\n	\n SHR\n Trust	\n \n	\n \n	\n
\n 250,000 \n	\n Series\n 2024-LXRY, Class E, 1 Mo. CME Term SOFR +\n \n 4.45%\n (a) (c)	\n 8.13% \n	\n 10/15/41 \n	\n 251,809 \n
\n	\n SKY\n Trust	\n \n	\n \n	\n
\n 972,959 \n	\n Series\n 2025-LINE, Class A, 1 Mo. CME Term SOFR +\n \n 2.59%\n (a) (c)	\n 6.26% \n	\n 04/15/42 \n	\n 979,211 \n
\n	\n SWCH\n Commercial Mortgage Trust	\n \n	\n \n	\n
\n 3,000,000 \n	\n Series\n 2025-DATA, Class A, 1 Mo. CME Term SOFR +\n \n 1.44%\n (a) (c)	\n 5.12% \n	\n 02/15/42 \n	\n 2,981,542 \n
\n	\n VCC \n	\n \n	\n \n	\n
\n 3,024,021 \n	\n Series\n 2026-MC1, Class A1, steps up to 9.49% on \n 01/01/29\n (a) (d)	\n 6.49% \n	\n 01/27/31 \n	\n 3,018,922 \n
\n 2,000,000 \n	\n Series\n 2026-MC1, Class A2, steps up to 11.66% on \n 01/01/29\n (a) (d)	\n 8.67% \n	\n 01/27/31 \n	\n 1,972,099 \n
\n	\n VCC\n Trust	\n \n	\n \n	\n
\n 1,967,107 \n	\n Series\n 2026-MC2, Class A1, steps up to 10.60% on \n 07/01/30\n (a) (d)	\n 7.60% \n	\n 06/25/56 \n	\n 1,961,889 \n
\n 2,000,000 \n	\n Series\n 2026-MC2, Class A2, steps up to 12.51% on \n 07/01/30\n (a) (d)	\n 9.52% \n	\n 06/25/56 \n	\n 1,988,946 \n

See\nNotes to Financial Statements

Page\n42

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n MORTGAGE-BACKED\n SECURITIES (Continued)
\n	\n Commercial\n Mortgage-Backed Securities (Continued)
\n	\n Velocity\n Commercial Capital Loan Trust	\n \n	\n \n	\n
\n $1,994,324 \n	\n Series\n 2026-3, Class M4 (a)	\n 9.05% \n	\n 07/25/56 \n	\n $1,994,993 \n
\n	\n Wells\n Fargo Commercial Mortgage Trust	\n \n	\n \n	\n
\n 3,314,861 \n	\n Series\n 2021-C59, Class XA, IO (b)	\n 1.46% \n	\n 04/15/54 \n	\n 167,894 \n
\n 9,848,008 \n	\n Series\n 2021-C60, Class XA, IO (b)	\n 1.51% \n	\n 08/15/54 \n	\n 571,516 \n
\n	\n \n	\n 55,494,309 \n
\n	\n Total\n Mortgage-Backed Securities	\n 269,080,834 \n
\n	\n (Cost\n $272,101,171)	\n
\n ASSET-BACKED\n SECURITIES — 32.6%
\n	\n AB\n BSL CLO 1 Ltd.
\n 2,000,000 \n	\n Series\n 2020-1A, Class D2R2, 3 Mo. CME Term SOFR +\n \n 4.55%\n (a) (c)	\n 8.30% \n	\n 10/15/38 \n	\n 1,991,998 \n
\n	\n Adams\n Outdoor Advertising, L.P.
\n 2,500,000 \n	\n Series\n 2026-1, Class B (a)	\n 6.39% \n	\n 07/20/56 \n	\n 2,502,492 \n
\n 2,000,000 \n	\n Series\n 2026-1, Class C (a)	\n 8.43% \n	\n 07/20/56 \n	\n 2,015,470 \n
\n	\n AGL\n CLO 17 Ltd.
\n 2,000,000 \n	\n Series\n 2022-17A, Class DR, 3 Mo. CME Term SOFR +\n \n 2.45%\n (a) (c)	\n 6.18% \n	\n 01/21/35 \n	\n 1,959,010 \n
\n	\n AGL\n CLO 23 Ltd.
\n 1,000,000 \n	\n Series\n 2022-23A, Class D1R, 3 Mo. CME Term SOFR +\n \n 2.45%\n (a) (c)	\n 6.18% \n	\n 04/20/38 \n	\n 983,760 \n
\n	\n Anchorage\n Capital CLO 29 Ltd.
\n 2,000,000 \n	\n Series\n 2024-29A, Class DR, 3 Mo. CME Term SOFR +\n \n 3.10%\n (a) (c)	\n 6.76% \n	\n 03/31/39 \n	\n 2,008,843 \n
\n	\n Apidos\n CLO XXIX
\n 260,000 \n	\n Series\n 2018-29A, Class D2R, 3 Mo. CME Term SOFR +\n \n 4.65%\n (a) (c)	\n 8.46% \n	\n 07/25/38 \n	\n 257,628 \n
\n	\n Benefit\n Street Partners CLO XXIII Ltd.
\n 1,000,000 \n	\n Series\n 2021-23A, Class D1RR, 3 Mo. CME Term SOFR +\n \n 2.70%\n (a) (c)	\n 6.34% \n	\n 04/25/39 \n	\n 1,003,044 \n
\n	\n Benefit\n Street Partners CLO XXV Ltd.
\n 1,000,000 \n	\n Series\n 2021-25A, Class CR, 3 Mo. CME Term SOFR +\n \n 1.65%\n (a) (c)	\n 5.40% \n	\n 01/15/35 \n	\n 1,002,151 \n
\n	\n Birch\n Grove CLO 8 Ltd.
\n 1,000,000 \n	\n Series\n 2024-8A, Class D2R, 3 Mo. CME Term SOFR +\n \n 4.80%\n (a) (c)	\n 8.53% \n	\n 04/20/39 \n	\n 1,004,252 \n
\n	\n BlueMountain\n CLO XXIX Ltd.
\n 895,439 \n	\n Series\n 2020-29A, Class D1R, 3 Mo. CME Term SOFR +\n CSA +\n \n 3.15%\n (a) (c)	\n 7.22% \n	\n 07/25/34 \n	\n 891,057 \n
\n	\n Carmax\n Select Receivables Trust
\n 2,350,000 \n	\n Series\n 2025-B, Class E (a)	\n 6.89% \n	\n 09/15/32 \n	\n 2,344,630 \n
\n	\n CarMax\n Select Receivables Trust
\n 3,800,000 \n	\n Series\n 2026-A, Class D	\n 4.90% \n	\n 05/17/32 \n	\n 3,729,261 \n
\n	\n CBAMR\n Ltd.
\n 1,000,000 \n	\n Series\n 2020-13A, Class D2R, 3 Mo. CME Term SOFR +\n \n 5.35%\n (a) (c)	\n 9.08% \n	\n 04/20/39 \n	\n 999,351 \n
\n	\n Consolidated\n Communications LLC/Fidium Fiber Finance Holdco LLC
\n 4,500,000 \n	\n Series\n 2025-1A, Class C (a)	\n 9.41% \n	\n 05/20/55 \n	\n 4,658,998 \n
\n 1,000,000 \n	\n Series\n 2025-4A, Class B (a)	\n 5.77% \n	\n 12/20/55 \n	\n 994,422 \n

See\nNotes to Financial Statements

Page\n43

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n ASSET-BACKED\n SECURITIES (Continued)
\n	\n CoreVest\n American Finance Trust
\n $97,209 \n	\n Series\n 2021-1, Class A (a)	\n 1.57% \n	\n 04/15/53 \n	\n $95,596 \n
\n 261,520 \n	\n Series\n 2021-2, Class A (a)	\n 1.41% \n	\n 07/15/54 \n	\n 253,208 \n
\n	\n CTM\n CLO Ltd.
\n 2,000,000 \n	\n Series\n 2025-2A, Class D3, 3 Mo. CME Term SOFR +\n \n 3.90%\n (a) (c)	\n 7.63% \n	\n 10/20/38 \n	\n 1,985,238 \n
\n	\n Diameter\n Capital CLO 4 Ltd.
\n 1,000,000 \n	\n Series\n 2022-4A, Class ERR, 3 Mo. CME Term SOFR +\n \n 4.55%\n (a) (c)	\n 8.30% \n	\n 01/15/39 \n	\n 990,969 \n
\n	\n Diameter\n Capital CLO 5 Ltd.
\n 250,000 \n	\n Series\n 2023-5A, Class C2R, 3 Mo. CME Term SOFR +\n \n 3.60%\n (a) (c)	\n 7.35% \n	\n 01/15/39 \n	\n 245,494 \n
\n 500,000 \n	\n Series\n 2023-5A, Class DR, 3 Mo. CME Term SOFR +\n \n 4.85%\n (a) (c)	\n 8.60% \n	\n 01/15/39 \n	\n 497,497 \n
\n	\n Elmwood\n CLO 27 Ltd.
\n 1,000,000 \n	\n Series\n 2024-3A, Class D2R, 3 Mo. CME Term SOFR +\n \n 4.60%\n (a) (c)	\n 8.33% \n	\n 04/18/39 \n	\n 1,000,475 \n
\n	\n Exeter\n Automobile Receivables Trust
\n 994,000 \n	\n Series\n 2024-1A, Class E (a)	\n 7.89% \n	\n 08/15/31 \n	\n 1,025,919 \n
\n 1,154,000 \n	\n Series\n 2024-2A, Class E (a)	\n 7.98% \n	\n 10/15/31 \n	\n 1,203,417 \n
\n 750,000 \n	\n Series\n 2025-2A, Class E (a)	\n 7.81% \n	\n 10/15/32 \n	\n 767,684 \n
\n 2,000,000 \n	\n Series\n 2025-3A, Class E (a)	\n 7.52% \n	\n 12/15/32 \n	\n 2,029,397 \n
\n 1,000,000 \n	\n Series\n 2025-5A, Class D	\n 5.16% \n	\n 03/15/32 \n	\n 993,107 \n
\n	\n Exeter\n Select Automobile Receivables Trust
\n 2,290,000 \n	\n Series\n 2025-1, Class D	\n 6.14% \n	\n 09/15/31 \n	\n 2,332,706 \n
\n 337,000 \n	\n Series\n 2025-1, Class E (a)	\n 8.44% \n	\n 12/15/32 \n	\n 347,051 \n
\n 350,000 \n	\n Series\n 2025-2, Class E (a)	\n 6.87% \n	\n 02/15/33 \n	\n 341,805 \n
\n 500,000 \n	\n Series\n 2025-3, Class C	\n 5.00% \n	\n 03/15/32 \n	\n 498,853 \n
\n 2,363,000 \n	\n Series\n 2025-3, Class D	\n 5.54% \n	\n 05/17/32 \n	\n 2,361,928 \n
\n	\n FIGRE\n Trust
\n 1,360,000 \n	\n Series\n 2026-HE2, Class E (a)	\n 7.06% \n	\n 01/25/56 \n	\n 1,353,171 \n
\n 3,087,000 \n	\n Series\n 2026-HE5, Class F (a)	\n 8.13% \n	\n 06/25/56 \n	\n 3,074,356 \n
\n 1,144,564 \n	\n Series\n 2026-HF3, Class C, 30 Day Average SOFR +\n \n 2.00%\n (a) (c)	\n 5.62% \n	\n 03/25/56 \n	\n 1,148,213 \n
\n	\n FNA\n VI LLC
\n 26,727 \n	\n Series\n 2021-1A, Class A (a)	\n 1.35% \n	\n 01/10/32 \n	\n 25,229 \n
\n	\n GLS\n Auto Receivables Issuer Trust
\n 1,005,000 \n	\n Series\n 2024-4A, Class E (a)	\n 7.51% \n	\n 08/15/31 \n	\n 1,033,868 \n
\n	\n GLS\n Auto Select Receivables Issuer Trust
\n 500,000 \n	\n Series\n 2025-4A, Class C (a)	\n 5.14% \n	\n 12/15/31 \n	\n 500,168 \n
\n 4,045,000 \n	\n Series\n 2025-4A, Class D (a)	\n 5.61% \n	\n 01/18/33 \n	\n 4,049,501 \n
\n 1,000,000 \n	\n Series\n 2026-1A, Class D (a)	\n 5.25% \n	\n 04/18/33 \n	\n 987,521 \n
\n	\n Golub\n Capital Partners 48, L.P.
\n 3,000,000 \n	\n Series\n 2020-48A, Class D1R, 3 Mo. CME Term SOFR +\n \n 2.75%\n (a) (c)	\n 6.50% \n	\n 04/17/38 \n	\n 2,991,298 \n
\n	\n Golub\n Capital Partners CLO B Ltd.
\n 2,315,000 \n	\n Series\n 2024-77A, Class D1, 3 Mo. CME Term SOFR +\n \n 2.70%\n (a) (c)	\n 6.51% \n	\n 01/25/38 \n	\n 2,321,875 \n
\n	\n Gracie\n Point International Funding LLC
\n 1,250,000 \n	\n Series\n 2025-1A, Class A, 30 Day Average SOFR +\n 1.50% (a) (c)	\n 5.13% \n	\n 08/15/28 \n	\n 1,252,026 \n
\n 1,200,000 \n	\n Series\n 2025-1A, Class D, 30 Day Average SOFR +\n 4.50% (a) (c)	\n 8.13% \n	\n 08/15/28 \n	\n 1,199,516 \n

See\nNotes to Financial Statements

Page\n44

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n ASSET-BACKED\n SECURITIES (Continued)
\n	\n Invesco\n U.S. CLO Ltd.
\n $750,000 \n	\n Series\n 2024-1RA, Class D1R, 3 Mo. CME Term SOFR +\n \n 3.75%\n (a) (c)	\n 7.50% \n	\n 04/15/37 \n	\n $747,215 \n
\n	\n Island\n Finance Trust
\n 2,000,000 \n	\n Series\n 2025-1A, Class A (a)	\n 6.54% \n	\n 03/19/35 \n	\n 2,006,734 \n
\n 650,000 \n	\n Series\n 2025-1A, Class B (a)	\n 7.95% \n	\n 03/19/35 \n	\n 654,336 \n
\n 300,000 \n	\n Series\n 2025-1A, Class C (a)	\n 10.00% \n	\n 03/19/35 \n	\n 301,682 \n
\n	\n Kinetic\n ABS Issuer LLC
\n 3,500,000 \n	\n Series\n 2026-1A, Class C (a)	\n 7.65% \n	\n 02/25/56 \n	\n 3,533,164 \n
\n	\n LMRK\n Issuer Co. 2 LLC
\n 1,000,000 \n	\n Series\n 2025-1A, Class A (a)	\n 5.52% \n	\n 09/15/55 \n	\n 989,359 \n
\n 500,000 \n	\n Series\n 2025-1A, Class C (a)	\n 8.12% \n	\n 09/15/55 \n	\n 501,632 \n
\n	\n Luxury\n Lease Partners Auto Lease Trust
\n 676,500 \n	\n Series\n 2025-A, Class A (a)	\n 5.51% \n	\n 03/15/32 \n	\n 673,872 \n
\n	\n Magnetite\n XLVII Ltd.
\n 1,000,000 \n	\n Series\n 2024-47A, Class F, 3 Mo. CME Term SOFR +\n \n 7.22%\n (a) (c)	\n 11.03% \n	\n 01/25/38 \n	\n 973,128 \n
\n	\n Magnetite\n XXIII Ltd.
\n 1,000,000 \n	\n Series\n 2019-23A, Class ER2, 3 Mo. CME Term SOFR +\n \n 4.60%\n (a) (c)	\n 8.41% \n	\n 01/25/35 \n	\n 977,926 \n
\n	\n Magnetite\n XXVII Ltd.
\n 260,000 \n	\n Series\n 2020-27A, Class FRR, 3 Mo. CME Term SOFR +\n \n 6.84%\n (a) (c)	\n 10.57% \n	\n 10/20/38 \n	\n 251,227 \n
\n	\n Magnetite\n XXVIII Ltd.
\n 1,000,000 \n	\n Series\n 2020-28A, Class D2RR, 3 Mo. CME Term SOFR +\n \n 3.75%\n (a) (c)	\n 7.50% \n	\n 01/15/38 \n	\n 993,897 \n
\n	\n Magnetite\n XXXVIII Ltd.
\n 2,000,000 \n	\n Series\n 2024-38A, Class D2R, 3 Mo. CME Term SOFR +\n \n 3.80%\n (a) (c)	\n 7.49% \n	\n 07/15/39 \n	\n 1,975,156 \n
\n	\n MetroNet\n Infrastructure Issuer LLC
\n 3,000,000 \n	\n Series\n 2026-1A, Class C (a)	\n 7.10% \n	\n 04/20/56 \n	\n 2,973,931 \n
\n	\n Neuberger\n Berman CLO XXI Ltd.
\n 2,500,000 \n	\n Series\n 2016-21A, Class D2R3, 3 Mo. CME Term SOFR +\n \n 3.95%\n (a) (c)	\n 7.68% \n	\n 01/20/39 \n	\n 2,486,172 \n
\n	\n Neuberger\n Berman CLO XXII Ltd.
\n 1,000,000 \n	\n Series\n 2016-22A, Class ER3, 3 Mo. CME Term SOFR +\n \n 6.25%\n (a) (c)	\n 10.00% \n	\n 04/17/40 \n	\n 1,019,380 \n
\n	\n Neuberger\n Berman Loan Advisers CLO 47 Ltd.
\n 250,000 \n	\n Series\n 2022-47A, Class DR, 3 Mo. CME Term SOFR +\n \n 2.80%\n (a) (c)	\n 6.54% \n	\n 04/16/35 \n	\n 249,889 \n
\n	\n Neuberger\n Berman Loan Advisers CLO 55 Ltd.
\n 1,500,000 \n	\n Series\n 2024-55A, Class D2R, 3 Mo. CME Term SOFR +\n \n 4.50%\n (a) (c)	\n 8.23% \n	\n 04/22/40 \n	\n 1,500,646 \n
\n	\n Neuberger\n Berman Loan Advisers CLO Ltd.
\n 250,000 \n	\n Series\n 2020-39A, Class ER, 3 Mo. CME Term SOFR +\n \n 7.20%\n (a) (c)	\n 10.93% \n	\n 04/20/38 \n	\n 248,129 \n
\n	\n OCP\n CLO 2020-20 Ltd.
\n 1,000,000 \n	\n Series\n 2020-20A, Class D1R2, 3 Mo. CME Term SOFR +\n \n 3.00%\n (a) (c)	\n 6.73% \n	\n 04/18/37 \n	\n 1,003,858 \n
\n	\n OHA\n Credit Partners VII Ltd.
\n 2,000,000 \n	\n Series\n 2012-7A, Class D2R4, 3 Mo. CME Term SOFR +\n \n 3.50%\n (a) (c)	\n 7.14% \n	\n 02/20/38 \n	\n 1,981,512 \n

See\nNotes to Financial Statements

Page\n45

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n ASSET-BACKED\n SECURITIES (Continued)
\n	\n OHA\n Credit Partners XV Ltd.
\n $1,000,000 \n	\n Series\n 2017-15A, Class D2R2, 3 Mo. CME Term SOFR +\n \n 4.50%\n (a) (c)	\n 8.23% \n	\n 04/20/39 \n	\n $997,935 \n
\n	\n OHA\n Credit Partners XVII Ltd.
\n 1,000,000 \n	\n Series\n 2024-17A, Class D2, 3 Mo. CME Term SOFR +\n \n 3.95%\n (a) (c)	\n 7.68% \n	\n 01/18/38 \n	\n 995,862 \n
\n	\n Pagaya\n AI Debt Grantor Trust
\n 116,920 \n	\n Series\n 2024-8, Class D (a)	\n 6.53% \n	\n 01/15/32 \n	\n 116,983 \n
\n 151,402 \n	\n Series\n 2024-10, Class E (a)	\n 10.41% \n	\n 06/15/32 \n	\n 152,633 \n
\n 399,985 \n	\n Series\n 2025-5, Class C (a)	\n 5.64% \n	\n 03/15/33 \n	\n 400,183 \n
\n 1,499,733 \n	\n Series\n 2025-7, Class E (a)	\n 8.89% \n	\n 05/15/33 \n	\n 1,504,612 \n
\n 1,998,696 \n	\n Series\n 2026-1, Class E (a)	\n 9.23% \n	\n 09/15/33 \n	\n 2,000,235 \n
\n 2,000,000 \n	\n Series\n 2026-3, Class E (a)	\n 10.16% \n	\n 12/15/33 \n	\n 2,013,961 \n
\n	\n Palmer\n Square CLO Ltd.
\n 1,000,000 \n	\n Series\n 2022-4A, Class D2R, 3 Mo. CME Term SOFR +\n \n 4.10%\n (a) (c)	\n 7.83% \n	\n 10/20/37 \n	\n 982,693 \n
\n	\n Point\n Securitization Trust
\n 3,955,000 \n	\n Series\n 2026-2, Class A1 (a)	\n 5.25% \n	\n 07/25/56 \n	\n 3,853,357 \n
\n 2,128,000 \n	\n Series\n 2026-2, Class B1 (a) (f)	\n 6.50% \n	\n 07/25/56 \n	\n 1,910,313 \n
\n	\n Regatta\n 36 Funding Ltd.
\n 1,000,000 \n	\n Series\n 2026-1A, Class E, 3 Mo. CME Term SOFR +\n \n 6.05%\n (a) (c)	\n 9.76% \n	\n 04/15/39 \n	\n 1,012,711 \n
\n	\n Regatta\n XVIII Funding Ltd.
\n 2,000,000 \n	\n Series\n 2021-1A, Class D1R, 3 Mo. CME Term SOFR +\n \n 2.60%\n (a) (c)	\n 6.35% \n	\n 04/15/38 \n	\n 1,985,726 \n
\n	\n Research-Driven\n Pagaya Motor Asset Trust
\n 275,000 \n	\n Series\n 2025-3A, Class A2 (a)	\n 5.15% \n	\n 02/27/34 \n	\n 275,832 \n
\n 3,500,000 \n	\n Series\n 2026-1A, Class E (a)	\n 11.07% \n	\n 01/25/35 \n	\n 3,461,939 \n
\n 3,138,159 \n	\n Series\n 2026-R1A, Class A (a)	\n 5.66% \n	\n 07/25/34 \n	\n 3,132,712 \n
\n	\n Research-Driven\n Pagaya Motor AssetTrust
\n 3,000,000 \n	\n Series\n 2026-4A, Class D (a)	\n 8.62% \n	\n 05/25/35 \n	\n 2,951,134 \n
\n 1,500,000 \n	\n Series\n 2026-4A, Class XS (a)	\n 10.00% \n	\n 05/25/35 \n	\n 1,425,165 \n
\n	\n Research-Driven\n Pagaya Motor Trust
\n 250,000 \n	\n Series\n 2025-5A, Class C (a)	\n 5.47% \n	\n 06/26/34 \n	\n 248,128 \n
\n 250,000 \n	\n Series\n 2025-5A, Class D (a)	\n 6.01% \n	\n 06/26/34 \n	\n 246,031 \n
\n 750,000 \n	\n Series\n 2025-5A, Class E (a)	\n 9.22% \n	\n 06/26/34 \n	\n 738,741 \n
\n 725,000 \n	\n Series\n 2025-6A, Class C (a)	\n 5.53% \n	\n 08/25/34 \n	\n 718,207 \n
\n	\n Rockland\n Park CLO Ltd.
\n 260,000 \n	\n Series\n 2021-1A, Class FR, 3 Mo. CME Term SOFR +\n \n 7.82%\n (a) (c)	\n 11.55% \n	\n 07/20/38 \n	\n 225,147 \n
\n	\n Santander\n Drive Auto Receivables Trust
\n 3,220,000 \n	\n Series\n 2026-1, Class D	\n 4.75% \n	\n 04/15/32 \n	\n 3,154,700 \n
\n	\n Signal\n Peak CLO 5 Ltd.
\n 1,000,000 \n	\n Series\n 2018-5A, Class D1R2, 3 Mo. CME Term SOFR +\n \n 4.00%\n (a) (c)	\n 7.81% \n	\n 04/25/37 \n	\n 995,304 \n
\n	\n Silver\n Point CLO 11 Ltd.
\n 275,000 \n	\n Series\n 2025-11A, Class F, 3 Mo. CME Term SOFR +\n \n 6.93%\n (a) (c)	\n 10.68% \n	\n 07/15/38 \n	\n 263,519 \n
\n	\n Silver\n Point CLO 9 Ltd.
\n 1,250,000 \n	\n Series\n 2025-9A, Class D1, 3 Mo. CME Term SOFR +\n \n 3.60%\n (a) (c)	\n 7.35% \n	\n 03/31/38 \n	\n 1,253,860 \n

See\nNotes to Financial Statements

Page\n46

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n ASSET-BACKED\n SECURITIES (Continued)
\n	\n Sixth\n Street CLO XVIII Ltd.
\n $400,000 \n	\n Series\n 2021-18A, Class FR, 3 Mo. CME Term SOFR +\n \n 8.02%\n (a) (c)	\n 11.77% \n	\n 10/17/38 \n	\n $394,168 \n
\n	\n Symphony\n CLO 30 Ltd.
\n 2,000,000 \n	\n Series\n 2023-30A, Class D2R2, 3 Mo. CME Term SOFR +\n \n 5.15%\n (a) (c)	\n 8.88% \n	\n 10/20/37 \n	\n 1,996,314 \n
\n	\n Texas\n Debt Capital CLO Ltd.
\n 3,000,000 \n	\n Series\n 2024-1A, Class D2R, 3 Mo. CME Term SOFR +\n \n 4.10%\n (a) (c)	\n 7.75% \n	\n 07/22/39 \n	\n 3,003,271 \n
\n	\n TICP\n CLO VI Ltd.
\n 2,000,000 \n	\n Series\n 2016-6A, Class D2R3, 3 Mo. CME Term SOFR +\n \n 4.50%\n (a) (c)	\n 8.25% \n	\n 07/01/39 \n	\n 1,989,322 \n
\n	\n Trinitas\n CLO XIX Ltd.
\n 2,500,000 \n	\n Series\n 2022-19A, Class D2R, 3 Mo. CME Term SOFR +\n \n 3.80%\n (a) (c)	\n 7.53% \n	\n 10/20/33 \n	\n 2,472,273 \n
\n	\n Uniti\n Fiber Abs Issuer, LLC
\n 1,605,000 \n	\n Series\n 2025-1A, Class A2 (a)	\n 5.88% \n	\n 04/20/55 \n	\n 1,619,375 \n
\n 1,600,000 \n	\n Series\n 2025-2A, Class B (a)	\n 5.62% \n	\n 01/20/56 \n	\n 1,570,120 \n
\n	\n Vertical\n Bridge CC LLC
\n 2,000,000 \n	\n Series\n 2025-1A, Class B (a)	\n 5.60% \n	\n 08/16/55 \n	\n 1,980,826 \n
\n 2,500,000 \n	\n Series\n 2025-1A, Class D (a)	\n 9.38% \n	\n 08/16/55 \n	\n 2,556,862 \n
\n	\n Westlake\n Automobile Receivables Trust
\n 3,700,000 \n	\n Series\n 2026-2A, Class D (a)	\n 5.25% \n	\n 03/15/32 \n	\n 3,680,926 \n
\n	\n Whitebox\n CLO V Ltd.
\n 500,000 \n	\n Series\n 2025-5A, Class D2, 3 Mo. CME Term SOFR +\n \n 4.10%\n (a) (c)	\n 7.83% \n	\n 07/20/38 \n	\n 495,302 \n
\n 1,000,000 \n	\n Series\n 2025-5A, Class E, 3 Mo. CME Term SOFR +\n \n 5.25%\n (a) (c)	\n 8.98% \n	\n 07/20/38 \n	\n 1,007,368 \n
\n	\n Zayo\n Issuer LLC
\n 3,500,000 \n	\n Series\n 2025-2A, Class B (a)	\n 6.59% \n	\n 06/20/55 \n	\n 3,539,965 \n
\n 4,500,000 \n	\n Series\n 2025-2A, Class C (a)	\n 9.49% \n	\n 06/20/55 \n	\n 4,713,734 \n
\n 4,000,000 \n	\n Series\n 2026-1A, Class C (a)	\n 7.78% \n	\n 04/20/56 \n	\n 4,030,166 \n
\n	\n Total\n Asset-Backed Securities	\n 163,363,913 \n
\n	\n (Cost\n $163,646,195)	\n
\n U.S.\n GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 16.3%
\n	\n Collateralized\n Mortgage Obligations — 7.5%
\n	\n Federal\n Home Loan Mortgage Corporation	\n \n	\n \n	\n
\n 1,203,874 \n	\n Series\n 2022-5266, Class FA, 30 Day Average SOFR +\n 0.82% (c)	\n 4.44% \n	\n 09/25/52 \n	\n 1,189,774 \n
\n 1,919,606 \n	\n Series\n 2023-5325, Class SA, (30 Day Average SOFR) ×-2+\n \n 11.40%\n (g)	\n 4.17% \n	\n 11/25/52 \n	\n 1,649,891 \n
\n 652,843 \n	\n Series\n 2024-5435, Class BS, (30 Day Average SOFR) ×-2+\n \n 11.93%\n (g)	\n 4.69% \n	\n 07/25/54 \n	\n 561,649 \n
\n 279,887 \n	\n Series\n 2024-5460, Class FN, 30 Day Average SOFR +\n 1.10% (c)	\n 4.72% \n	\n 10/25/54 \n	\n 281,195 \n
\n 1,135,258 \n	\n Series\n 2025-5508, Class FE, 30 Day Average SOFR +\n 1.60% (c)	\n 5.22% \n	\n 02/25/55 \n	\n 1,157,093 \n
\n 4,746,810 \n	\n Series\n 2026-5642, Class FN, 30 Day Average SOFR +\n 0.90% (c)	\n 4.52% \n	\n 03/25/56 \n	\n 4,693,509 \n
\n 4,600,000 \n	\n Series\n 2026-5690, Class NS, (30 Day Average SOFR ) ×-1.80+\n \n 13.07%\n (f) (g)	\n 6.50% \n	\n 08/25/56 \n	\n 4,457,687 \n
\n	\n Federal\n Home Loan Mortgage Corporation Seasoned Credit Risk \n Transfer\n Trust	\n \n	\n \n	\n
\n 978,414 \n	\n Series\n 2017-4, Class M (a)	\n 4.75% \n	\n 06/25/57 \n	\n 970,292 \n

See\nNotes to Financial Statements

Page\n47

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n U.S.\n GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)
\n	\n Collateralized\n Mortgage Obligations (Continued)
\n	\n Federal\n Home Loan Mortgage Corporation STACR REMIC Trust	\n \n	\n \n	\n
\n $1,850,000 \n	\n Series\n 2021-HQA1, Class B2, 30 Day Average SOFR +\n \n 5.00%\n (a) (c)	\n 8.62% \n	\n 08/25/33 \n	\n $2,210,139 \n
\n 2,500,000 \n	\n Series\n 2022-HQA1, Class B2, 30 Day Average SOFR +\n \n 11.00%\n (a) (c)	\n 14.62% \n	\n 03/25/42 \n	\n 2,649,860 \n
\n	\n Federal\n National Mortgage Association	\n \n	\n \n	\n
\n 76,418 \n	\n Series\n 2016-63, Class AF, 30 Day Average SOFR +\n CSA +\n \n 0.50%\n (c)	\n 4.23% \n	\n 09/25/46 \n	\n 75,505 \n
\n 703,717 \n	\n Series\n 2023-51, Class PO, PO	\n (h) \n	\n 11/25/53 \n	\n 588,403 \n
\n 938,314 \n	\n Series\n 2023-54, Class PO, PO	\n (h) \n	\n 11/25/53 \n	\n 772,644 \n
\n 3,356,303 \n	\n Series\n 2025-6, Class FB, 30 Day Average SOFR +\n 2.00% (c)	\n 5.62% \n	\n 02/25/55 \n	\n 3,425,624 \n
\n 1,074,483 \n	\n Series\n 2025-6, Class LF, 30 Day Average SOFR +\n 1.80% (c)	\n 5.42% \n	\n 02/25/55 \n	\n 1,090,324 \n
\n 893,177 \n	\n Series\n 2025-49, Class FA, 30 Day Average SOFR +\n 0.80% (c)	\n 4.42% \n	\n 06/25/55 \n	\n 886,804 \n
\n	\n Government\n National Mortgage Association	\n \n	\n \n	\n
\n 1,247,120 \n	\n Series\n 2024-79, Class VB, (30 Day Average SOFR) ×-1.50+\n \n 10.95%\n (g)	\n 5.52% \n	\n 05/20/54 \n	\n 1,158,495 \n
\n 695,267 \n	\n Series\n 2025-4, Class FY, 30 Day Average SOFR +\n 1.60% (c)	\n 5.22% \n	\n 01/20/55 \n	\n 701,629 \n
\n 701,981 \n	\n Series\n 2025-100, Class JS, (30 Day Average SOFR) ×-2.75+\n \n 15.95%\n (g)	\n 5.99% \n	\n 06/20/55 \n	\n 644,764 \n
\n 1,072,460 \n	\n Series\n 2025-164, Class PO, PO	\n (h) \n	\n 08/20/54 \n	\n 831,341 \n
\n 4,354,576 \n	\n Series\n 2026-99, Class HS, (30 Day Average SOFR) ×-2.25+\n \n 12.60%\n (g)	\n 4.45% \n	\n 06/20/56 \n	\n 3,820,569 \n
\n 1,178,536 \n	\n Series\n 2026-99, Class SC, (30 Day Average SOFR) ×-2.11+\n \n 13.03%\n (g)	\n 5.38% \n	\n 06/20/56 \n	\n 1,081,941 \n
\n 2,025,866 \n	\n Series\n 2026-111, Class AS, (30 Day Average SOFR) ×-2.50+\n \n 13.89%\n (g)	\n 4.83% \n	\n 06/20/56 \n	\n 1,829,013 \n
\n 1,163,637 \n	\n Series\n 2026-118, Class SP, (30 Day Average SOFR) ×-2.65+\n \n 14.71%\n (g)	\n 5.08% \n	\n 07/20/56 \n	\n 969,088 \n
\n	\n \n	\n 37,697,233 \n
\n	\n Commercial\n Mortgage-Backed Securities — 4.3%
\n	\n Federal\n Home Loan Mortgage Corporation Multifamily Structured \n Pass-Through\n Certificates	\n \n	\n \n	\n
\n 48,691,227 \n	\n Series\n 2021-K124, Class X1, IO (b)	\n 0.71% \n	\n 12/25/30 \n	\n 1,275,389 \n
\n 940,000 \n	\n Series\n 2024-K755, Class X3, IO (b)	\n 5.65% \n	\n 02/25/31 \n	\n 201,620 \n
\n	\n Federal\n National Mortgage Association Alternative Credit \n Enhancement\n Securities	\n \n	\n \n	\n
\n 3,137,860 \n	\n Series\n 2026-M4, Class Z (b)	\n 2.85% \n	\n 04/25/52 \n	\n 1,795,572 \n
\n	\n Government\n National Mortgage Association	\n \n	\n \n	\n
\n 21,891,862 \n	\n Series\n 2021-31, Class IO, IO (b)	\n 0.94% \n	\n 01/16/61 \n	\n 1,499,247 \n
\n 48,540,633 \n	\n Series\n 2024-32, Class IO, IO (b)	\n 0.70% \n	\n 06/16/63 \n	\n 2,510,575 \n
\n 26,451,667 \n	\n Series\n 2024-47, Class AI, IO	\n 0.75% \n	\n 06/16/64 \n	\n 1,365,665 \n
\n 20,522,336 \n	\n Series\n 2025-21, Class IO, IO (b)	\n 0.95% \n	\n 04/16/65 \n	\n 1,449,429 \n
\n 60,842,693 \n	\n Series\n 2025-78, Class IO, IO (b)	\n 1.00% \n	\n 11/16/63 \n	\n 4,465,890 \n
\n 15,879,053 \n	\n Series\n 2025-153, Class IO, IO (b)	\n 0.85% \n	\n 09/16/67 \n	\n 1,173,370 \n
\n 55,211,100 \n	\n Series\n 2025-206, Class IO, IO (b)	\n 0.80% \n	\n 04/16/64 \n	\n 3,359,584 \n
\n 39,055,000 \n	\n Series\n 2026-133, Class IO, IO (b)	\n 0.83% \n	\n 04/16/65 \n	\n 2,442,386 \n
\n	\n \n	\n 21,538,727 \n
\n	\n Pass-Through\n Securities — 4.5%	\n
\n	\n Federal\n National Mortgage Association
\n 723,177 \n	\n Pool\n MA4271 \n	\n 1.50% \n	\n 02/01/51 \n	\n 525,367 \n

See\nNotes to Financial Statements

Page\n48

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n U.S.\n GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)
\n	\n Pass-Through\n Securities (Continued)	\n
\n	\n Federal\n National Mortgage Association (Continued)
\n $500,000 \n	\n Pool\n TBA (i)	\n 5.50% \n	\n 08/15/41 \n	\n $505,191 \n
\n 1,441,000 \n	\n Pool\n TBA \n	\n 4.50% \n	\n 09/01/55 \n	\n 1,351,307 \n
\n 1,670,000 \n	\n Pool\n TBA (i)	\n 3.00% \n	\n 08/01/56 \n	\n 1,424,001 \n
\n 325,000 \n	\n Pool\n TBA (i)	\n 2.50% \n	\n 08/15/56 \n	\n 265,024 \n
\n 1,519,000 \n	\n Pool\n TBA (i)	\n 3.50% \n	\n 08/15/56 \n	\n 1,347,697 \n
\n 600,000 \n	\n Pool\n TBA \n	\n 5.00% \n	\n 08/15/56 \n	\n 579,120 \n
\n 4,800,000 \n	\n Pool\n TBA (i)	\n 5.50% \n	\n 08/15/56 \n	\n 4,750,855 \n
\n 5,389,000 \n	\n Pool\n TBA (i)	\n 5.50% \n	\n 09/15/56 \n	\n 5,325,404 \n
\n 1,682,000 \n	\n Pool\n TBA (i)	\n 6.00% \n	\n 09/15/56 \n	\n 1,697,828 \n
\n 1,465,000 \n	\n Pool\n TBA \n	\n 6.00% \n	\n 10/15/56 \n	\n 1,477,641 \n
\n	\n Government\n National Mortgage Association
\n 1,000,000 \n	\n Pool\n DO5687 \n	\n 5.72% \n	\n 06/15/53 \n	\n 1,001,879 \n
\n 306,000 \n	\n Pool\n TBA (i)	\n 3.50% \n	\n 08/15/56 \n	\n 267,911 \n
\n 114,000 \n	\n Pool\n TBA (i)	\n 4.00% \n	\n 08/15/56 \n	\n 103,150 \n
\n 318,000 \n	\n Pool\n TBA (i)	\n 4.50% \n	\n 08/15/56 \n	\n 298,112 \n
\n 1,496,000 \n	\n Pool\n TBA (i)	\n 5.00% \n	\n 08/15/56 \n	\n 1,447,689 \n
\n 132,000 \n	\n Pool\n TBA (i)	\n 3.00% \n	\n 08/20/56 \n	\n 114,474 \n
\n	\n \n	\n 22,482,650 \n
\n	\n Total\n U.S. Government Agency Mortgage-Backed Securities	\n 81,718,610 \n
\n	\n (Cost\n $82,738,273)	\n
\n U.S.\n TREASURY BILLS — 0.6%
\n 800,000 \n	\n U.S.\n Treasury Bill\n	\n (h) \n	\n 09/08/26 \n	\n 797,108 \n
\n 2,000,000 \n	\n U.S.\n Treasury Bill\n	\n (h) \n	\n 09/15/26 \n	\n 1,991,346 \n
\n	\n Total\n U.S. Treasury Bills	\n 2,788,454 \n
\n	\n (Cost\n $2,787,531)	\n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Shares \n	\n Description \n	\n Value \n
\n MONEY\n MARKET FUNDS — 0.2%
\n 1,118,655 \n	\n Morgan\n Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 3.54% (j)	\n 1,118,655 \n
\n	\n (Cost\n $1,118,655)	\n
\n	\n Total\n Investments — 103.5%	\n 518,070,466 \n
\n	\n (Cost\n $522,391,825)	\n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Number of \n Contracts \n	\n Description \n	\n Notional \n Amount \n	\n Exercise \n Price \n	\n Expiration \n Date \n	\n Value \n
\n PURCHASED\n OPTIONS — 0.0%
\n	\n Call\n Options Purchased — 0.0%	\n
\n 1 \n	\n 3\n Month SOFR Futures, expiring December 2026	\n $239,800 \n	\n $96.75 \n	\n 12/11/26 \n	\n 56 \n
\n 29 \n	\n U.S.\n Treasury Long Bond Futures, expiring \n September\n 2026	\n 3,141,063 \n	\n 110.00 \n	\n 08/21/26 \n	\n 12,688 \n
\n	\n Total\n Call Options Purchased	\n 12,744 \n
\n	\n (Cost\n $24,040)	\n

See\nNotes to Financial Statements

Page\n49

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Number of \n Contracts \n	\n Description \n	\n Notional \n Amount \n	\n Exercise \n Price \n	\n Expiration \n Date \n	\n Value \n
\n PURCHASED\n OPTIONS (Continued)
\n	\n Put\n Options Purchased — 0.0%	\n
\n 10 \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n September\n 2026	\n $1,080,000 \n	\n $107.50 \n	\n 08/21/26 \n	\n $4,062 \n
\n	\n (Cost\n $3,042)	\n	\n \n	\n \n	\n
\n	\n Total\n Purchased Options	\n 16,806 \n
\n	\n (Cost\n $27,082)	\n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Principal \n Value \n	\n Description \n	\n Stated \n Coupon \n	\n Stated \n Maturity \n	\n Value \n
\n U.S.\n GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (1.2)%
\n	\n Pass-Through\n Securities — (1.2)%	\n
\n	\n Federal\n National Mortgage Association	\n
\n $(1,665,000) \n	\n Pool\n TBA (i)	\n 5.00% \n	\n 09/01/56 \n	\n (1,604,977 \n ) \n
\n (1,223,000) \n	\n Pool\n TBA \n	\n 3.00% \n	\n 09/15/56 \n	\n (1,041,938 \n ) \n
\n (3,386,000) \n	\n Pool\n TBA (i)	\n 4.00% \n	\n 09/15/56 \n	\n (3,089,011 \n ) \n
\n (488,000) \n	\n Pool\n TBA \n	\n 4.00% \n	\n 10/15/56 \n	\n (445,026 \n ) \n
\n	\n Total\n Investments Sold Short — (1.2)%	\n (6,180,952 \n ) \n
\n	\n (Proceeds\n $6,290,412)	\n

\n Number of \n Contracts \n	\n Description \n	\n Notional \n Amount \n	\n Exercise \n Price \n	\n Expiration \n Date \n	\n Value \n
\n WRITTEN\n OPTIONS — (0.4)%
\n	\n Call\n Options Written — (0.0)%	\n
\n (13) \n	\n 3\n Month SOFR Futures, expiring December 2027	\n $(3,115,287 \n ) \n	\n $97.50 \n	\n 12/10/27 \n	\n (2,519 \n ) \n
\n (2) \n	\n 3\n Month SOFR Futures, expiring December 2026	\n (479,600 \n ) \n	\n 97.50 \n	\n 12/11/26 \n	\n (62 \n ) \n
\n (4) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (822,438 \n ) \n	\n 103.75 \n	\n 08/21/26 \n	\n (0 \n ) \n
\n (1) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (205,609 \n ) \n	\n 104.75 \n	\n 08/21/26 \n	\n (0 \n ) \n
\n (28) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (2,967,344 \n ) \n	\n 109.00 \n	\n 08/21/26 \n	\n (219 \n ) \n
\n (37) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (3,921,133 \n ) \n	\n 109.50 \n	\n 08/21/26 \n	\n (289 \n ) \n
\n (9) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (953,789 \n ) \n	\n 110.00 \n	\n 08/21/26 \n	\n (0 \n ) \n
\n (175) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n December\n 2026	\n (18,525,391 \n ) \n	\n 107.50 \n	\n 11/20/26 \n	\n (47,852 \n ) \n
\n (20) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n December\n 2026	\n (2,117,188 \n ) \n	\n 108.00 \n	\n 11/20/26 \n	\n (3,750 \n ) \n
\n (4) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n September\n 2026	\n (432,000 \n ) \n	\n 109.00 \n	\n 08/21/26 \n	\n (750 \n ) \n
\n (20) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (2,154,375 \n ) \n	\n 109.50 \n	\n 11/20/26 \n	\n (15,000 \n ) \n
\n (27) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (2,908,406 \n ) \n	\n 109.50 \n	\n 11/20/26 \n	\n (15,609 \n ) \n
\n (5) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (538,594 \n ) \n	\n 110.00 \n	\n 11/20/26 \n	\n (2,266 \n ) \n
\n (6) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (646,313 \n ) \n	\n 111.00 \n	\n 11/20/26 \n	\n (1,687 \n ) \n
\n (34) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (3,662,437 \n ) \n	\n 112.00 \n	\n 11/20/26 \n	\n (5,844 \n ) \n

See\nNotes to Financial Statements

Page\n50

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Number of \n Contracts \n	\n Description \n	\n Notional \n Amount \n	\n Exercise \n Price \n	\n Expiration \n Date \n	\n Value \n
\n WRITTEN\n OPTIONS (Continued)
\n	\n Call\n Options Written (Continued)	\n
\n (8) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n September\n 2026	\n $(866,500 \n ) \n	\n $113.00 \n	\n 08/21/26 \n	\n $(500 \n ) \n
\n (45) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n September\n 2026	\n (4,874,062 \n ) \n	\n 119.00 \n	\n 08/21/26 \n	\n (703 \n ) \n
\n (70) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n September\n 2026	\n (7,581,875 \n ) \n	\n 121.00 \n	\n 08/21/26 \n	\n (0 \n ) \n
\n (27) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (2,911,781 \n ) \n	\n 114.00 \n	\n 11/20/26 \n	\n (14,766 \n ) \n
\n (68) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (7,333,375 \n ) \n	\n 115.00 \n	\n 11/20/26 \n	\n (28,687 \n ) \n
\n (5) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (539,219 \n ) \n	\n 116.00 \n	\n 11/20/26 \n	\n (1,641 \n ) \n
\n (15) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (1,617,656 \n ) \n	\n 118.00 \n	\n 11/20/26 \n	\n (3,047 \n ) \n
\n (19) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (2,049,031 \n ) \n	\n 120.00 \n	\n 11/20/26 \n	\n (2,672 \n ) \n
\n (12) \n	\n Ultra\n U.S. Treasury Long Bond Futures, expiring \n September\n 2026	\n (1,316,250 \n ) \n	\n 116.00 \n	\n 08/21/26 \n	\n (750 \n ) \n
\n (5) \n	\n Ultra\n U.S. Treasury Long Bond Futures, expiring \n September\n 2026	\n (548,438 \n ) \n	\n 118.00 \n	\n 08/21/26 \n	\n (156 \n ) \n
\n	\n Total\n Call Options Written	\n (148,769 \n ) \n
\n	\n (Premiums\n received $453,318)	\n
\n	\n Put\n Options Written — (0.4)%	\n
\n (14) \n	\n 3\n Month SOFR Futures, expiring December 2027	\n (3,354,925 \n ) \n	\n 96.00 \n	\n 12/10/27 \n	\n (18,113 \n ) \n
\n (16) \n	\n 3\n Month SOFR Futures, expiring December 2027	\n (3,834,200 \n ) \n	\n 96.38 \n	\n 12/10/27 \n	\n (29,700 \n ) \n
\n (4) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (822,438 \n ) \n	\n 102.50 \n	\n 08/21/26 \n	\n (563 \n ) \n
\n (16) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (3,289,750 \n ) \n	\n 102.75 \n	\n 08/21/26 \n	\n (4,750 \n ) \n
\n (18) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (3,700,969 \n ) \n	\n 103.00 \n	\n 08/21/26 \n	\n (10,125 \n ) \n
\n (12) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (2,467,313 \n ) \n	\n 103.25 \n	\n 08/21/26 \n	\n (11,438 \n ) \n
\n (9) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (1,850,484 \n ) \n	\n 103.50 \n	\n 08/21/26 \n	\n (12,656 \n ) \n
\n (1) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n September\n 2026	\n (205,609 \n ) \n	\n 103.75 \n	\n 08/21/26 \n	\n (1,891 \n ) \n
\n (46) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n December\n 2026	\n (9,447,250 \n ) \n	\n 102.50 \n	\n 11/20/26 \n	\n (28,031 \n ) \n
\n (23) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n December\n 2026	\n (4,723,625 \n ) \n	\n 102.63 \n	\n 11/20/26 \n	\n (16,172 \n ) \n
\n (20) \n	\n U.S.\n 2-Year Treasury Note Futures, expiring \n December\n 2026	\n (4,107,500 \n ) \n	\n 102.75 \n	\n 11/20/26 \n	\n (16,250 \n ) \n
\n (35) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (3,709,180 \n ) \n	\n 107.00 \n	\n 08/21/26 \n	\n (38,008 \n ) \n
\n (134) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (14,200,859 \n ) \n	\n 107.50 \n	\n 08/21/26 \n	\n (207,281 \n ) \n
\n (2) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (211,953 \n ) \n	\n 108.00 \n	\n 08/21/26 \n	\n (4,078 \n ) \n
\n (21) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n September\n 2026	\n (2,225,508 \n ) \n	\n 108.50 \n	\n 08/21/26 \n	\n (53,156 \n ) \n

See\nNotes to Financial Statements

Page\n51

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

\n Number of \n Contracts \n	\n Description \n	\n Notional \n Amount \n	\n Exercise \n Price \n	\n Expiration \n Date \n	\n Value \n
\n WRITTEN\n OPTIONS (Continued)
\n	\n Put\n Options Written (Continued)	\n
\n (89) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n December\n 2026	\n $(9,421,484 \n ) \n	\n $105.00 \n	\n 11/20/26 \n	\n $(48,672 \n ) \n
\n (38) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n December\n 2026	\n (4,022,656 \n ) \n	\n 105.50 \n	\n 11/20/26 \n	\n (27,312 \n ) \n
\n (6) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n December\n 2026	\n (635,156 \n ) \n	\n 106.25 \n	\n 11/20/26 \n	\n (6,422 \n ) \n
\n (2) \n	\n U.S.\n 5-Year Treasury Note Futures, expiring \n December\n 2026	\n (211,719 \n ) \n	\n 106.50 \n	\n 11/20/26 \n	\n (2,422 \n ) \n
\n (35) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n September\n 2026	\n (3,780,000 \n ) \n	\n 110.00 \n	\n 08/21/26 \n	\n (71,641 \n ) \n
\n (10) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (1,077,188 \n ) \n	\n 106.50 \n	\n 11/20/26 \n	\n (8,750 \n ) \n
\n (62) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (6,678,562 \n ) \n	\n 107.00 \n	\n 11/20/26 \n	\n (63,937 \n ) \n
\n (13) \n	\n U.S.\n 10-Year Treasury Note Futures, expiring \n December\n 2026	\n (1,400,344 \n ) \n	\n 107.50 \n	\n 11/20/26 \n	\n (16,047 \n ) \n
\n (1) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n September\n 2026	\n (108,313 \n ) \n	\n 106.00 \n	\n 08/21/26 \n	\n (484 \n ) \n
\n (34) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n September\n 2026	\n (3,682,625 \n ) \n	\n 111.00 \n	\n 08/21/26 \n	\n (98,812 \n ) \n
\n (11) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n October\n 2026	\n (1,186,281 \n ) \n	\n 109.00 \n	\n 09/25/26 \n	\n (26,812 \n ) \n
\n (11) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n November\n 2026	\n (1,186,281 \n ) \n	\n 108.00 \n	\n 10/23/26 \n	\n (25,266 \n ) \n
\n (34) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n November\n 2026	\n (3,666,688 \n ) \n	\n 110.00 \n	\n 10/23/26 \n	\n (114,750 \n ) \n
\n (2) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (215,688 \n ) \n	\n 104.00 \n	\n 11/20/26 \n	\n (2,563 \n ) \n
\n (15) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (1,617,656 \n ) \n	\n 105.00 \n	\n 11/20/26 \n	\n (23,203 \n ) \n
\n (16) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (1,725,500 \n ) \n	\n 106.00 \n	\n 11/20/26 \n	\n (29,750 \n ) \n
\n (66) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (7,117,687 \n ) \n	\n 107.00 \n	\n 11/20/26 \n	\n (145,406 \n ) \n
\n (38) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (4,098,063 \n ) \n	\n 108.00 \n	\n 11/20/26 \n	\n (100,344 \n ) \n
\n (55) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (5,931,406 \n ) \n	\n 109.00 \n	\n 11/20/26 \n	\n (171,875 \n ) \n
\n (58) \n	\n U.S.\n Treasury Long Bond Futures, expiring \n December\n 2026	\n (6,254,937 \n ) \n	\n 110.00 \n	\n 11/20/26 \n	\n (214,781 \n ) \n
\n (8) \n	\n Ultra\n U.S. Treasury Long Bond Futures, expiring \n September\n 2026	\n (877,500 \n ) \n	\n 112.00 \n	\n 08/21/26 \n	\n (22,250 \n ) \n
\n	\n Total\n Put Options Written	\n (1,673,711 \n ) \n
\n	\n (Premiums\n received $891,483)	\n
\n	\n Total\n Written Options	\n (1,822,480 \n ) \n
\n	\n (Premiums\n received $1,344,801)	\n
\n	\n Net\n Other Assets and Liabilities — (1.9)%	\n (9,683,409 \n ) \n
\n	\n Net\n Assets — 100.0%	\n $500,400,431 \n

See\nNotes to Financial Statements

Page\n52

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

Futures Contracts at July\n31, 2026 (See Note 2D\n- Futures Contracts in the Notes to Financial Statements):

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Futures\n Contracts Long	\n Number of \n Contracts \n	\n Expiration \n Date \n	\n Notional \n Value \n	\n Unrealized \n Appreciation\n \n (Depreciation)/\n \n Value \n
\n U.S.\n 2-Year Treasury Notes	\n 176 \n	\n Sep-2026 \n	\n $36,187,250 \n	\n $(81,539 \n ) \n
\n U.S.\n 5-Year Treasury Notes	\n 456 \n	\n Sep-2026 \n	\n 48,325,313 \n	\n (352,568 \n ) \n
\n U.S.\n 10-Year Treasury Notes	\n 317 \n	\n Sep-2026 \n	\n 34,236,000 \n	\n (432,597 \n ) \n
\n \n	\n	\n	\n $118,748,563 \n	\n $(866,704 \n ) \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Futures\n Contracts Short	\n \n	\n \n	\n \n	\n \n
\n U.S.\n Treasury Long-Term Bond Futures	\n 278 \n	\n Sep-2026 \n	\n $(30,110,875 \n ) \n	\n $1,007,858 \n
\n Ultra\n 10-Year U.S. Treasury Notes	\n 68 \n	\n Sep-2026 \n	\n (7,459,812 \n ) \n	\n 44,766 \n
\n Ultra\n U.S. Treasury Bond Futures	\n 31 \n	\n Sep-2026 \n	\n (3,400,313 \n ) \n	\n 75,626 \n
\n \n	\n	\n	\n $(40,971,000 \n ) \n	\n $1,128,250 \n
\n \n	\n	\n Total \n	\n $77,777,563 \n	\n $261,546 \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n (a) \n	\n This\n security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under \n Rule\n 144A of the Securities Act of 1933, as amended, and may be resold in transactions exempt from registration, normally\n to \n qualified\n institutional buyers. Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined \n to\n be liquid by First Trust Advisors L.P., the Fund’s advisor. Although market instability can result in periods of increased overall\n \n market\n illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require \n subjective\n judgment. At July 31, 2026, securities noted as such amounted to $417,948,690 or 83.5% of net assets.
\n (b) \n	\n Collateral\n Strip Rate security. Coupon is based on the weighted net interest rate of the investment’s underlying collateral. The \n interest\n rate resets periodically.
\n (c) \n	\n Floating\n or variable rate security.
\n (d) \n	\n Step-up\n security. A security where the coupon increases or steps up at a predetermined date.
\n (e) \n	\n Weighted\n Average Coupon security. Coupon is based on the blended interest rate of the underlying holdings, which may have \n different\n coupons. The coupon may change in any period.
\n (f) \n	\n This\n security is fair valued by the Advisor’s Pricing Committee in accordance with procedures approved by the Trust’s Board of\n \n Trustees,\n and in accordance with provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At \n July\n 31, 2026, securities noted as such are valued at $12,582,942 or 2.5% of net assets.
\n (g) \n	\n Inverse\n floating rate security.
\n (h) \n	\n Zero\n coupon security.
\n (i) \n	\n All\n or a portion of this security is part of a mortgage dollar roll agreement (see Note 2I\n - Mortgage Dollar Rolls and TBA \n Transactions\n in the Notes to Financial Statements).
\n (j) \n	\n Rate\n shown reflects yield as of July 31, 2026.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

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

See\nNotes to Financial Statements

Page\n53

First Trust Structured\nCredit Income Opportunities ETF (SCIO)\n\n

Portfolio of Investments (Continued)\n\nJuly 31, 2026

Valuation\nInputs

A summary\nof the inputs used to value the Fund’s investments as of July 31, 2026 is as follows (see Note 2A\n- Portfolio Valuation in the Notes to Financial Statements):

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n ASSETS\n TABLE
\n \n	\n Total\n \n Value\n at \n 7/31/2026 \n	\n Level\n 1 \n Quoted\n \n Prices \n	\n Level\n 2 \n Significant\n \n Observable\n \n Inputs \n	\n Level\n 3 \n Significant\n \n Unobservable\n \n Inputs \n
\n Mortgage-Backed\n Securities	\n $269,080,834 \n	\n $— \n	\n $269,080,834 \n	\n $— \n
\n Asset-Backed\n Securities	\n 163,363,913 \n	\n — \n	\n 163,363,913 \n	\n — \n
\n U.S.\n Government Agency Mortgage-Backed Securities	\n 81,718,610 \n	\n — \n	\n 81,718,610 \n	\n — \n
\n U.S.\n Treasury Bills	\n 2,788,454 \n	\n — \n	\n 2,788,454 \n	\n — \n
\n Money\n Market Funds	\n 1,118,655 \n	\n 1,118,655 \n	\n — \n	\n — \n
\n Total\n Investments	\n 518,070,466 \n	\n 1,118,655 \n	\n 516,951,811 \n	\n — \n
\n Purchased\n Options	\n 16,806 \n	\n 16,806 \n	\n — \n	\n — \n
\n Futures\n Contracts*	\n 1,128,250 \n	\n 1,128,250 \n	\n — \n	\n — \n
\n Total \n	\n $519,215,522 \n	\n $2,263,711 \n	\n $516,951,811 \n	\n $— \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

LIABILITIES\n TABLE

\n \n

Total\n

Value\n at

7/31/2026

Level\n 1

Quoted\n

Prices

Level\n 2

Significant\n

Observable\n

Inputs

Level\n 3

Significant\n

Unobservable\n

Inputs

U.S.\n Government Agency Mortgage-Backed Securities

Sold\n Short

$(6,180,952

)

$—

$(6,180,952

)

$—

Written\n Options

(1,822,480

)

(1,822,480

)

—

Futures\n Contracts*

(866,704

)

(866,704

)

—

Total

$(8,870,136

)

$(2,689,184

)

$(6,180,952

)

$—

\n \n \n \n

Includes\n cumulative appreciation/depreciation on futures contracts as reported in the Futures Contracts table. Only the current day’s

variation\n margin is presented on the Statements of Assets and Liabilities.

See\nNotes to Financial Statements

Page\n54

This\npage intentionally left blank.

Page\n55

First Trust Exchange-Traded\nFund IV\n\n

Statements of Assets and Liabilities

July 31, 2026

\n \n	\n First Trust Core \n Investment \n Grade ETF \n (FTCB)\n	\n First Trust AAA \n CMBS ETF \n (CAAA)\n	\n First Trust \n Structured \n Credit Income \n Opportunities \n ETF \n (SCIO)\n
\n ASSETS: \n	\n	\n	\n
\n Investments,\n at value - Unaffiliated	\n $2,682,123,422 \n	\n $35,133,333 \n	\n $518,070,466 \n
\n Investments,\n at value - Affiliated	\n 402,700 \n	\n — \n	\n — \n
\n Total\n investments, at value	\n 2,682,526,122 \n	\n 35,133,333 \n	\n 518,070,466 \n
\n Options\n contracts purchased, at value	\n 41,750 \n	\n — \n	\n 16,806 \n
\n Cash \n	\n 4,685,225 \n	\n — \n	\n — \n
\n Cash\n segregated as collateral	\n 913,766 \n	\n 135,198 \n	\n 3,487,699 \n
\n Receivables: \n	\n	\n	\n
\n Investment\n securities sold	\n 141,647,840 \n	\n — \n	\n 32,414,439 \n
\n Interest \n	\n 15,138,150 \n	\n 208,054 \n	\n 2,058,381 \n
\n Capital\n shares sold	\n 8,188,902 \n	\n — \n	\n — \n
\n Variation\n margin	\n 527,104 \n	\n — \n	\n 69,334 \n
\n Dividends \n	\n 107,074 \n	\n 3,303 \n	\n 42,737 \n
\n Total\n Assets	\n 2,853,775,933 \n	\n 35,479,888 \n	\n 556,159,862 \n
\n \n
\n LIABILITIES: \n	\n	\n	\n
\n Investments\n sold short, at value	\n 24,486,638 \n	\n — \n	\n 6,180,952 \n
\n Options\n contracts written, at value	\n 9,876,800 \n	\n — \n	\n 1,822,480 \n
\n Due\n to broker	\n 3,609,970 \n	\n — \n	\n — \n
\n Payables: \n	\n	\n	\n
\n Investment\n securities purchased	\n 263,526,444 \n	\n 250,701 \n	\n 47,474,259 \n
\n Investment\n advisory fees	\n 1,183,983 \n	\n 8,666 \n	\n 281,740 \n
\n Variation\n margin	\n — \n	\n 30,151 \n	\n — \n
\n Total\n Liabilities	\n 302,683,835 \n	\n 289,518 \n	\n 55,759,431 \n
\n NET\n ASSETS	\n $2,551,092,098 \n	\n $35,190,370 \n	\n $500,400,431 \n
\n \n
\n NET\n ASSETS consist of:	\n	\n	\n
\n Paid-in\n capital	\n $2,604,860,318 \n	\n $35,434,010 \n	\n $505,677,217 \n
\n Par\n value	\n 1,247,000 \n	\n 17,500 \n	\n 245,000 \n
\n Accumulated\n distributable earnings (loss)	\n (55,015,220 \n ) \n	\n (261,140 \n ) \n	\n (5,521,786 \n ) \n
\n NET\n ASSETS	\n $2,551,092,098 \n	\n $35,190,370 \n	\n $500,400,431 \n
\n NET\n ASSET VALUE, per share \n	\n $20.46 \n	\n $20.11 \n	\n $20.42 \n
\n Number\n of shares outstanding (unlimited number of shares authorized, \n par\n value $0.01 per share)	\n 124,700,002 \n	\n 1,750,002 \n	\n 24,500,002 \n
\n Investments,\n at cost - Unaffiliated	\n $2,726,049,366 \n	\n $35,193,322 \n	\n $522,391,825 \n
\n Investments,\n at cost - Affiliated	\n $407,187 \n	\n $— \n	\n $— \n
\n Total\n investments, at cost	\n $2,726,456,553 \n	\n $35,193,322 \n	\n $522,391,825 \n
\n Premiums\n paid on options contracts purchased	\n $53,743 \n	\n $— \n	\n $27,082 \n
\n Investments\n sold short, proceeds	\n $24,975,536 \n	\n $— \n	\n $6,290,412 \n
\n Premiums\n received on options contracts written	\n $7,331,170 \n	\n $— \n	\n $1,344,801 \n

See\nNotes to Financial Statements

Page\n56

First Trust Exchange-Traded\nFund IV\n\n

Statements of Operations

For the Year Ended July 31, 2026

\n \n	\n First Trust Core \n Investment \n Grade ETF \n (FTCB)\n	\n First Trust AAA \n CMBS ETF \n (CAAA)\n	\n First Trust \n Structured \n Credit Income \n Opportunities \n ETF \n (SCIO)\n
\n INVESTMENT\n INCOME:	\n	\n	\n
\n Interest \n	\n $95,420,659 \n	\n $1,254,086 \n	\n $12,915,518 \n
\n Dividends\n - Unaffiliated	\n 1,103,323 \n	\n 35,236 \n	\n 256,262 \n
\n Dividends\n - Affiliated	\n 19,300 \n	\n — \n	\n — \n
\n Total\n investment income	\n 96,543,282 \n	\n 1,289,322 \n	\n 13,171,780 \n
\n \n
\n EXPENSES: \n	\n	\n	\n
\n Investment\n advisory fees	\n 10,790,981 \n \n	\n 103,898 \n \n	\n 1,493,042 \n \n
\n Other\n expenses	\n 81,478 \n	\n 1,220 \n	\n 768 \n
\n Total\n expenses	\n 10,872,459 \n	\n 105,118 \n	\n 1,493,810 \n
\n Less\n fees waived by the investment advisor	\n — \n	\n (3,894 \n ) \n	\n (19,289 \n ) \n
\n Net\n expenses	\n 10,872,459 \n	\n 101,224 \n	\n 1,474,521 \n
\n NET\n INVESTMENT INCOME (LOSS)	\n 85,670,823 \n	\n 1,188,098 \n	\n 11,697,259 \n
\n \n
\n NET\n REALIZED AND UNREALIZED GAIN (LOSS):	\n	\n	\n
\n Net\n realized gain (loss) on:	\n	\n	\n
\n Investments\n - Unaffiliated	\n 2,729,975 \n	\n 70,311 \n	\n (546,128 \n )
\n Investments\n sold short	\n 108,780 \n	\n — \n	\n 68,943 \n
\n Purchased\n options contracts	\n (137,656 \n )	\n — \n	\n (43,076 \n )
\n Written\n options contracts	\n 6,290,543 \n	\n — \n	\n 372,853 \n
\n Distribution\n of capital gains from investment companies - Affiliated	\n 960 \n	\n — \n	\n — \n
\n Futures\n contracts	\n (6,386,337 \n ) \n	\n (122,045 \n ) \n	\n (1,657,990 \n ) \n
\n Net\n realized gain (loss)	\n 2,606,265 \n	\n (51,734 \n ) \n	\n (1,805,398 \n ) \n
\n Net\n change in unrealized appreciation (depreciation) on:	\n	\n	\n
\n Investments\n - Unaffiliated	\n (51,499,712 \n )	\n (189,720 \n )	\n (4,492,312 \n )
\n Investments\n - Affiliated	\n (4,000 \n )	\n — \n	\n — \n
\n Investments\n sold short	\n 477,270 \n	\n — \n	\n 109,460 \n
\n Purchased\n options contracts	\n (11,609 \n )	\n — \n	\n (8,800 \n )
\n Written\n options contracts	\n (3,465,891 \n )	\n — \n	\n (477,679 \n )
\n Futures\n contracts	\n (282,605 \n ) \n	\n (85,254 \n ) \n	\n 290,129 \n
\n Net\n change in unrealized appreciation (depreciation)	\n (54,786,547 \n ) \n	\n (274,974 \n ) \n	\n (4,579,202 \n ) \n
\n NET\n REALIZED AND UNREALIZED GAIN (LOSS)	\n (52,180,282 \n ) \n	\n (326,708 \n ) \n	\n (6,384,600 \n ) \n
\n NET\n INCREASE (DECREASE) IN NET ASSETS RESULTING \n FROM\n OPERATIONS	\n $33,490,541 \n	\n $861,390 \n	\n $5,312,659 \n

See\nNotes to Financial Statements

Page\n57

First Trust Exchange-Traded\nFund IV\n\n

Statements of Changes in Net Assets\n

\n \n	\n First Trust Core Investment\n \n Grade ETF (FTCB) \n	\n First Trust AAA CMBS\n ETF \n (CAAA) \n
\n \n	\n Year \n Ended \n 7/31/2026 \n	\n Year \n Ended \n 7/31/2025 \n	\n Year \n Ended \n 7/31/2026 \n	\n Year \n Ended \n 7/31/2025 \n
\n OPERATIONS: \n	\n	\n	\n	\n
\n Net\n investment income (loss)	\n $85,670,823 \n	\n $23,173,334 \n	\n $1,188,098 \n	\n $760,361 \n
\n Net\n realized gain (loss)	\n 2,606,265 \n	\n 21,821 \n	\n (51,734 \n )	\n 142,294 \n
\n Net\n change in unrealized appreciation (depreciation)	\n (54,786,547 \n ) \n	\n 7,928,282 \n	\n (274,974 \n ) \n	\n (89,064 \n ) \n
\n Net\n increase (decrease) in net assets resulting from \n operations \n	\n 33,490,541 \n	\n 31,123,437 \n	\n 861,390 \n	\n 813,591 \n
\n \n
\n DISTRIBUTIONS\n TO SHAREHOLDERS FROM:	\n	\n	\n	\n
\n Investment\n operations	\n (96,374,043 \n )	\n (24,184,002 \n )	\n (1,312,572 \n )	\n (874,253 \n )
\n Return\n of capital	\n (8,090,914 \n ) \n	\n — \n	\n (108,830 \n ) \n	\n — \n
\n Total\n distributions to shareholders	\n (104,464,957 \n ) \n	\n (24,184,002 \n ) \n	\n (1,421,402 \n ) \n	\n (874,253 \n ) \n
\n \n
\n SHAREHOLDER\n TRANSACTIONS:	\n	\n	\n	\n
\n Proceeds\n from shares sold	\n 1,348,899,895 \n \n	\n 1,241,959,124 \n \n	\n 19,512,138 \n \n	\n 8,159,133 \n \n
\n Cost\n of shares redeemed	\n — \n \n	\n — \n \n	\n (2,048,015 \n ) \n	\n (5,073,018 \n ) \n
\n Net\n increase (decrease) in net assets resulting from \n shareholder\n transactions	\n 1,348,899,895 \n	\n 1,241,959,124 \n	\n 17,464,123 \n	\n 3,086,115 \n
\n Total\n increase (decrease) in net assets	\n 1,277,925,479 \n	\n 1,248,898,559 \n	\n 16,904,111 \n	\n 3,025,453 \n
\n \n
\n NET\n ASSETS:	\n	\n	\n	\n
\n Beginning\n of period	\n 1,273,166,619 \n	\n 24,268,060 \n	\n 18,286,259 \n	\n 15,260,806 \n
\n End\n of period	\n $2,551,092,098 \n	\n $1,273,166,619 \n	\n $35,190,370 \n	\n $18,286,259 \n
\n \n
\n CHANGES\n IN SHARES OUTSTANDING:	\n	\n	\n	\n
\n Shares\n outstanding, beginning of period	\n 60,950,002 \n	\n 1,150,002 \n	\n 900,002 \n	\n 750,002 \n
\n Shares\n sold	\n 63,750,000 \n	\n 59,800,000 \n	\n 950,000 \n	\n 400,000 \n
\n Shares\n redeemed	\n — \n	\n — \n	\n (100,000 \n ) \n	\n (250,000 \n ) \n
\n Shares\n outstanding, end of period	\n 124,700,002 \n	\n 60,950,002 \n	\n 1,750,002 \n	\n 900,002 \n

See\nNotes to Financial Statements

Page\n58

\n First Trust Structured\n Credit \n Income Opportunities\n ETF \n (SCIO) \n
\n Year \n Ended \n 7/31/2026 \n	\n Year \n Ended \n 7/31/2025 \n
\n	\n
\n $11,697,259 \n	\n $1,046,998 \n
\n (1,805,398 \n )	\n 176,033 \n
\n (4,579,202 \n ) \n	\n (81,498 \n ) \n
\n 5,312,659 \n	\n 1,141,533 \n
\n
\n	\n
\n (11,135,148 \n )	\n (1,128,103 \n )
\n (912,605 \n ) \n	\n — \n
\n (12,047,753 \n ) \n	\n (1,128,103 \n ) \n
\n
\n	\n
\n 481,451,479 \n \n	\n 16,469,221 \n \n
\n — \n \n	\n (6,108,418 \n ) \n
\n 481,451,479 \n	\n 10,360,803 \n
\n 474,716,385 \n	\n 10,374,233 \n
\n
\n	\n
\n 25,684,046 \n	\n 15,309,813 \n
\n $500,400,431 \n	\n $25,684,046 \n
\n
\n	\n
\n 1,250,002 \n	\n 750,002 \n
\n 23,250,000 \n	\n 800,000 \n
\n — \n	\n (300,000 \n ) \n
\n 24,500,002 \n	\n 1,250,002 \n

See\nNotes to Financial Statements

Page\n59

First Trust Exchange-Traded\nFund IV\n\n

Financial Highlights

For a share outstanding throughout each period

First Trust Core Investment\nGrade ETF (FTCB)

\n \n	\n Year Ended July\n 31, \n	\n Period \n Ended \n 7/31/2024 (a) \n
\n \n	\n 2026\n	\n 2025 \n
\n Net\n asset value, beginning of period	\n $20.89 \n	\n $21.10 \n	\n $20.00 \n
\n Income\n from investment operations:	\n	\n	\n
\n Net\n investment income (loss) (b)	\n 0.92 \n \n	\n 0.93 \n \n	\n 0.67 \n \n
\n Net\n realized and unrealized gain (loss)	\n (0.23 \n ) \n	\n (0.08 \n ) (c) \n	\n 1.07 \n (d) \n
\n Total\n from investment operations	\n 0.69 \n \n	\n 0.85 \n \n	\n 1.74 \n \n
\n Distributions\n paid to shareholders from:	\n	\n	\n
\n Net\n investment income	\n (0.93 \n ) \n	\n (1.01 \n ) \n	\n (0.64 \n ) \n
\n Net\n realized gain	\n (0.10 \n ) \n	\n (0.05 \n ) \n	\n — \n \n
\n Return\n of capital	\n (0.09 \n ) \n	\n — \n \n	\n — \n \n
\n Total\n distributions	\n (1.12 \n ) \n	\n (1.06 \n ) \n	\n (0.64 \n ) \n
\n Net\n asset value, end of period	\n $20.46 \n \n	\n $20.89 \n \n	\n $21.10 \n \n
\n Total\n return (e)	\n 3.26 \n % \n	\n 4.13 \n % \n	\n 8.77 \n % (d) \n
\n \n
\n Ratios\n to average net assets/supplemental data:	\n	\n	\n
\n Net\n assets, end of period (in 000’s)	\n $2,551,092 \n \n	\n $1,273,167 \n \n	\n $24,268 \n \n
\n Ratio\n of total expenses to average net assets	\n 0.55 \n % (f) \n	\n 0.55 \n % (f) \n	\n 0.56 \n % (g) (h) \n
\n Ratio\n of net investment income (loss) to average net assets	\n 4.37 \n % (f) \n	\n 4.52 \n % (f) \n	\n 4.46 \n % (g) \n
\n Portfolio\n turnover rate (i)	\n 136 \n % \n	\n 183 \n % \n	\n 212 \n % \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n (a) \n	\n Inception\n date is November 7, 2023, which is consistent with the commencement of investment operations and is the date the initial creation \n units\n were established.
\n (b) \n	\n Based\n on average shares outstanding.
\n (c) \n	\n The\n per share amount does not correlate with the aggregate realized and unrealized gain (loss) due to the timing of the Fund share sales and\n \n repurchases\n in relation to market value fluctuation of the underlying investments.
\n (d) \n	\n The\n Fund received a reimbursement from the advisor in the amount of $195, which represents less than $0.01 per share. Since the advisor \n reimbursed\n the Fund, there was no effect on the Fund’s total return.
\n (e) \n	\n Total\n return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all \n distributions\n 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 \n reflect\n the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is \n calculated\n for the time period presented and is not annualized for periods of less than a year.
\n (f) \n	\n Ratio\n of total expenses to average net assets and ratio of net investment income (loss) to average net assets do not reflect the Fund’s\n \n proportionate\n share of expenses and income of underlying investment companies in which the Fund invests.
\n (g) \n	\n Annualized. \n
\n (h) \n	\n Includes\n excise tax. If this excise tax expense was not included, the expense ratio would have been 0.55%.
\n (i) \n	\n Portfolio\n turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities\n \n received\n or delivered from processing creations or redemptions and in-kind transactions.

See\nNotes to Financial Statements

Page\n60

First Trust Exchange-Traded\nFund IV\n\n

Financial Highlights (Continued)\n

For a share outstanding throughout each period

First Trust AAA CMBS ETF\n(CAAA)

\n \n	\n Year Ended July\n 31, \n	\n Period \n Ended \n 7/31/2024 (a) \n
\n \n	\n 2026\n	\n 2025 \n
\n Net\n asset value, beginning of period	\n $20.32 \n	\n $20.35 \n	\n $20.00 \n
\n Income\n from investment operations:	\n	\n	\n
\n Net\n investment income (loss) (b)	\n 0.84 \n \n	\n 1.06 \n \n	\n 0.36 \n \n
\n Net\n realized and unrealized gain (loss)	\n (0.03 \n ) \n	\n 0.15 \n \n	\n 0.32 \n \n
\n Total\n from investment operations	\n 0.81 \n \n	\n 1.21 \n \n	\n 0.68 \n \n
\n Distributions\n paid to shareholders from:	\n	\n	\n
\n Net\n investment income	\n (0.90 \n ) \n	\n (1.24 \n ) \n	\n (0.33 \n ) \n
\n Net\n realized gain	\n (0.04 \n ) \n	\n — \n \n	\n — \n \n
\n Return\n of capital	\n (0.08 \n ) \n	\n — \n \n	\n — \n \n
\n Total\n distributions	\n (1.02 \n ) \n	\n (1.24 \n ) \n	\n (0.33 \n ) \n
\n Net\n asset value, end of period	\n $20.11 \n \n	\n $20.32 \n \n	\n $20.35 \n \n
\n Total\n return (c)	\n 3.98 \n % \n	\n 6.08 \n % \n	\n 3.41 \n % \n
\n \n
\n Ratios\n to average net assets/supplemental data:	\n	\n	\n
\n Net\n assets, end of period (in 000’s)	\n $35,190 \n \n	\n $18,286 \n \n	\n $15,261 \n \n
\n Ratio\n of total expenses to average net assets	\n 0.36 \n % (d) \n	\n 0.55 \n % (d) (e) \n	\n 0.55 \n % (f) \n
\n Ratio\n of net expenses to average net assets	\n 0.35 \n % (d) \n	\n 0.55 \n % (d) (e) \n	\n 0.55 \n % (f) \n
\n Ratio\n of net investment income (loss) to average net assets	\n 4.12 \n % (d) \n	\n 5.21 \n % (d) \n	\n 4.28 \n % (f) \n
\n Portfolio\n turnover rate (g)	\n 18 \n % \n	\n 92 \n % \n	\n 97 \n % \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n (a) \n	\n Inception\n date is February 27, 2024, which is consistent with the commencement of investment operations and is the date the initial creation \n units\n were established.
\n (b) \n	\n Based\n on average shares outstanding.
\n (c) \n	\n Total\n return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all \n distributions\n 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 \n reflect\n the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is \n calculated\n 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\n \n fees\n had not been waived by the investment advisor.
\n (d) \n	\n Ratios\n of expenses to average net assets and ratio of net investment income (loss) to average net assets do not reflect the Fund’s proportionate\n \n share\n of expenses and income of underlying investment companies in which the Fund invests.
\n (e) \n	\n Includes\n excise tax. If this excise tax expense was not included, the expense ratio would have been 0.54%.
\n (f) \n	\n Annualized. \n
\n (g) \n	\n Portfolio\n turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities\n \n received\n or delivered from processing creations or redemptions and in-kind transactions.

See\nNotes to Financial Statements

Page\n61

First Trust Exchange-Traded\nFund IV\n\n

Financial Highlights (Continued)\n

For a share outstanding throughout each period

First Trust Structured\nCredit Income Opportunities ETF (SCIO)

\n \n	\n Year Ended July\n 31, \n	\n Period \n Ended \n 7/31/2024 (a) \n
\n \n	\n 2026\n	\n 2025 \n
\n Net\n asset value, beginning of period	\n $20.55 \n	\n $20.41 \n	\n $20.00 \n
\n Income\n from investment operations:	\n	\n	\n
\n Net\n investment income (loss) (b)	\n 1.15 \n \n	\n 1.54 \n \n	\n 0.45 \n \n
\n Net\n realized and unrealized gain (loss)	\n (0.09 \n ) \n	\n 0.20 \n \n	\n 0.36 \n \n
\n Total\n from investment operations	\n 1.06 \n \n	\n 1.74 \n \n	\n 0.81 \n \n
\n Distributions\n paid to shareholders from:	\n	\n	\n
\n Net\n investment income	\n (1.10 \n ) \n	\n (1.58 \n ) \n	\n (0.40 \n ) \n
\n Net\n realized gain	\n (0.00 \n ) (c) \n	\n (0.02 \n ) \n	\n — \n \n
\n Return\n of capital	\n (0.09 \n ) \n	\n — \n \n	\n — \n \n
\n Total\n distributions	\n (1.19 \n ) \n	\n (1.60 \n ) \n	\n (0.40 \n ) \n
\n Net\n asset value, end of period	\n $20.42 \n \n	\n $20.55 \n \n	\n $20.41 \n \n
\n Total\n return (d)	\n 5.26 \n % \n	\n 8.85 \n % \n	\n 4.06 \n % \n
\n \n
\n Ratios\n to average net assets/supplemental data:	\n	\n	\n
\n Net\n assets, end of period (in 000’s)	\n $500,400 \n \n	\n $25,684 \n \n	\n $15,310 \n \n
\n Ratio\n of total expenses to average net assets	\n 0.72 \n % (e) \n	\n 0.94 \n % (e) \n	\n 0.95 \n % (f) \n
\n Ratio\n of net expenses to average net assets	\n 0.71 \n % (e) \n	\n 0.94 \n % (e) \n	\n 0.95 \n % (f) \n
\n Ratio\n of net investment income (loss) to average net assets	\n 5.65 \n % (e) \n	\n 7.55 \n % (e) \n	\n 5.27 \n % (f) \n
\n Portfolio\n turnover rate (g)	\n 98 \n % \n	\n 100 \n % \n	\n 116 \n % \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n (a) \n	\n Inception\n date is February 27, 2024, which is consistent with the commencement of investment operations and is the date the initial creation \n units\n were established.
\n (b) \n	\n Based\n on average shares outstanding.
\n (c) \n	\n Amount\n represents less than $0.01.
\n (d) \n	\n Total\n return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all \n distributions\n 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 \n reflect\n the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is \n calculated\n 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\n \n fees\n had not been waived by the investment advisor.
\n (e) \n	\n Ratios\n of expenses to average net assets and ratio of net investment income (loss) to average net assets do not reflect the Fund’s proportionate\n \n share\n of expenses and income of underlying investment companies in which the Fund invests.
\n (f) \n	\n Annualized. \n
\n (g) \n	\n Portfolio\n turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities\n \n received\n or delivered from processing creations or redemptions and in-kind transactions.

See\nNotes to Financial Statements

Page\n62

Notes\nto Financial Statements

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026

1. Organization

First Trust Exchange-Traded Fund\nIV (the “Trust”) is an open-end management investment company organized as a Massachusetts business\ntrust on September 15, 2010, and is registered with the Securities and Exchange Commission under the Investment Company Act\nof 1940, as amended (the “1940 Act”).

This report covers the three\nfunds (each a “Fund” and collectively, the “Funds”) listed below, each a non-diversified series of the Trust.\nThe shares of each Fund are listed and traded on the NYSE Arca, Inc.

\n \n \n \n \n \n \n

First\n Trust Core Investment Grade ETF (ticker “FTCB”)

First\n Trust AAA CMBS ETF (ticker “CAAA”)

First\n Trust Structured Credit Income Opportunities ETF (ticker “SCIO”)

Each Fund represents a separate\nseries of shares of beneficial interest in the Trust. Unlike conventional mutual funds, each Fund issues and\nredeems shares on a continuous basis, at net asset value (“NAV”), only in large blocks of shares known as “Creation\nUnits.”

Each Fund is an actively managed\nexchange-traded fund (“ETF”). FTCB and CAAA’s investment objective seeks to maximize long-term\ntotal return. SCIO’s investment objective seeks to maximize long-term income.

Under normal market conditions,\nFTCB seeks to invest 100% of its Investment Portfolio in investment grade securities. Investment grade\nsecurities are those securities that are, at the time of purchase, rated as investment grade (i.e., rated Baa3/BBB- or above) by at least\none nationally recognized statistical rating organization (“NRSRO”)\nrating such securities, or if unrated, debt securities determined\nby the Fund’s investment advisor to be of comparable quality. The Fund’s Investment Portfolio includes only investment grade\nsecurities purchased by the Fund’s portfolio managers (the “Investment\nPortfolio”)\nand does not include uninvested cash or any other Fund\nasset unconnected to the Fund’s intended portfolio, including, but not limited to, accounts receivable or assets received as part\nof an issuer workout.

Under normal market conditions,\nCAAA will invest at least 80% of its net assets (plus any borrowings for investment purposes) in commercial\nmortgage-backed securities with a ‘AAA’ rating (or equivalent) at the time of purchase, as determined by at least one NRSRO\nor, 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,\nSCIO will invest at least 80% of its net assets (plus any borrowings for investment purposes) in structured\ncredit investments.

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

2. Significant\nAccounting Policies

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

A. Portfolio\nValuation

Each Fund’s NAV is determined\ndaily as of the close of regular trading on the New York Stock Exchange (“NYSE”), normally 4:00\np.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\nas of that time. Domestic debt securities are priced using data reflecting the earlier closing of the principal markets for those\nsecurities. Each Fund’s NAV is calculated by dividing the value of all assets of each Fund (including accrued interest and dividends),\nless all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of shares outstanding.

Each Fund’s investments\nare valued daily at market value or, in the absence of market value with respect to any portfolio securities, at fair\nvalue. Market value prices represent readily available market quotations such as last sale or official closing prices from a national\nor foreign exchange (i.e., a regulated market) and\nare primarily obtained from third-party pricing services. Fair value prices represent any\nprices not considered market value prices and are either obtained from a third-party pricing service or are determined by the

Page\n63

Notes\nto Financial Statements (Continued)

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026

Pricing Committee\nof the Funds’ investment advisor, First Trust Advisors L.P. (“First Trust” or the “Advisor”), in accordance\nwith valuation procedures approved by the Trust’s\nBoard of Trustees, and in accordance with provisions of the 1940 Act and rules thereunder.\nInvestments valued by the Advisor’s Pricing Committee, if any, are footnoted as such in the footnotes to the Portfolio of Investments.\nEach Fund’s investments are valued as follows:

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

benchmark\nyields;

reported\ntrades;

broker/dealer\nquotes;

issuer\nspreads;

benchmark\nsecurities;

bids\nand offers; and

reference\ndata including market research publications.

Pricing services generally value\nfixed-income securities assuming orderly transactions of an institutional round lot size, but a Fund\nmay 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\nlisted on any national or foreign exchange (excluding Nasdaq, Inc. (“Nasdaq”) and the London Stock\nExchange Alternative Investment Market (“AIM”)) are valued at the last sale price on the exchange on which they are principally\ntraded or, for Nasdaq and AIM securities, the official closing price. Securities traded on more than one securities exchange\nare valued at the last sale price or official closing price, as applicable, at the close of the securities exchange representing\nthe primary exchange for such securities.

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

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

Exchange-traded options contracts\nare valued at the closing price in the market where such contracts are principally traded. If no closing\nprice is available, exchange-traded options contracts are valued at the mean of their most recent bid and ask price, if both are\navailable. Options contracts traded in the over-the-counter market may be valued as follows, depending on the market in which\nthe 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\noption.

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

the\ncredit conditions in the relevant market and changes thereto;

the\nliquidity conditions in the relevant market and changes thereto;

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

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

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

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

Page\n64

Notes\nto Financial Statements (Continued)

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026

impossible\nto obtain a reliable market quotation; and a security whose price, as provided by the third-party pricing service, does not reflect\nthe security’s fair value. As a general principle, the current fair value of a security would appear to be the amount which the\nowner might reasonably expect to receive for the security\nupon its current sale. When fair value prices are used, generally they will differ\nfrom market quotations or official closing prices on the applicable exchanges. A variety of factors may be considered in determining\nthe fair value of such securities, including, but not limited to, the following:

the\nmost recent price provided by a pricing service;

available\nmarket prices for the fixed-income security;

the\nfundamental business data relating to the borrower/issuer;

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

the\ntype, size and cost of a security;

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

the\ncredit quality and cash flow of the borrower/issuer, or country of issue, based on the Pricing Committee’s, sub-advisor’s\nor portfolio manager’s analysis, as applicable, or external analysis;

the\ninformation as to any transactions in or offers for the security;

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

10)

the\ncoupon payments;

11)

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

12)

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

13)

the\nprospects for the borrower’s/issuer’s industry, and multiples (of earnings and/or cash flows) being paid for similar businesses\nin that industry (for corporate debt only); and

14)

other\nrelevant factors.

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

• Level\n1 – Level 1 inputs are quoted prices in active markets for identical investments. An active market is a market in which transactions\nfor the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

• Level\n2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following:

o Quoted\nprices for similar investments in active markets.

o Quoted\nprices for identical or similar investments in markets that are non-active. A non-active market is a market where there\nare few transactions for the investment, the prices are not current, or price quotations vary substantially either over time\nor among market makers, or in which little information is released publicly.

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

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

• Level\n3 – Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity’s own assumptions about\nthe assumptions that market participants would use in pricing the investment.

The inputs or methodologies used\nfor valuing investments are not necessarily an indication of the risk associated with investing in those\ninvestments. A summary of the inputs used to value each Fund’s investments as of July 31, 2026, is included with each Fund’s\nPortfolio of Investments.

B. Securities\nTransactions and Investment Income

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

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

Page\n65

Notes\nto Financial Statements (Continued)

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026

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

Securities purchased or sold\non a when-issued, delayed-delivery or forward purchase commitment basis may have extended settlement periods.\nThe value of the security so purchased is subject to market fluctuations during this period. Each Fund maintains liquid assets with\na current value at least equal to the amount of its when-issued, delayed-delivery or forward purchase commitments until payment is\nmade. At July 31, 2026, the Funds had no when-issued or delayed-delivery securities. At July 31, 2026, FTCB held $112,738,543 of forward\npurchase commitments and $10,328,575 of forward purchase commitments sold short. At July 31, 2026, SCIO held $15,602,697\nof forward purchase commitments and $3,146,115 of forward purchase commitments sold short.

C. Short\nSales

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

D. Futures\nContracts

Each Fund may purchase or sell\n(i.e., is long or short) exchange-listed futures contracts to hedge against or gain exposure to changes in\ninterest rates (interest rate risk). Futures contracts are agreements between a Fund and a counterparty to buy or sell a specific quantity\nof an underlying instrument at a specified price and at a specified date. Depending on the terms of the contract, futures contracts\nare settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash settlement\namount on the settlement date. Open futures contracts can also be closed out prior to settlement by entering into an offsetting\ntransaction in a matching futures contract. If a Fund is not able to enter into an offsetting transaction, a Fund will continue to be\nrequired to maintain margin deposits on the futures contract. When the contract is closed or expires, a Fund records a realized gain or\nloss 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.\nThis gain or loss is included in “Net realized gain (loss) on futures contracts” on the Statements of Operations.

Upon entering into a futures\ncontract, a Fund must deposit funds, called margin, with its custodian in the name of the clearing broker equal\nto a specified percentage of the current value of the contract. Open futures contracts are marked-to-market daily with the change in\nvalue recognized as a component of “Net change in unrealized appreciation (depreciation) on futures contracts” on the Statements\nof Operations. Pursuant to the contracts, a Fund agrees\nto receive from or pay to the broker an amount of cash equal to the daily fluctuation\nin value of the contract. Such receipts or payments are known as variation margin and are included in “Variation margin” payable\nor receivable on the Statements of Assets and Liabilities.

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

E. Options\nContracts

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

Each Fund may purchase (buy)\nor write (sell) put and call options on futures contracts and enter into closing transactions with respect to\nsuch options to terminate an existing position. A futures option gives the holder the right, in return for the premium paid, to assume\n

Page\n66

Notes\nto Financial Statements (Continued)

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026

a long position\n(call) or short position (put) in a futures contract at a specified exercise price prior to the expiration of the option. Upon exercise\nof a call option, the holder acquires a long position in the futures contract and the writer is assigned the opposite short position.\nIn 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\noffsetting purchase or sale of a futures option of the same series. When a Fund purchases an option, the premium paid represents the\ncost of the option, which is included in “Options\ncontracts purchased, at value”\non the Statements of Assets and Liabilities. When a Fund\nwrites (sells) an option, an amount equal to the premium received by a Fund is included in “Options contracts written, at value”\non the Statements of Assets and Liabilities. Options\nare marked-to-market daily and their value is affected by changes in the value of the\nunderlying security, changes in interest rates, changes in the actual or perceived volatility of the securities markets and the underlying\nsecurities, and the remaining time to the option’s expiration. The value of options may also be adversely affected if the market\nfor the options becomes less liquid or the trading volume diminishes.

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

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

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

F. Interest-Only\nSecurities

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

G. Principal-Only\nSecurities

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

Page\n67

Notes\nto Financial Statements (Continued)

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026

H. Stripped\nMortgage-Backed Securities

Stripped mortgage-backed securities\nare created by segregating the cash flows from underlying mortgage loans or mortgage securities to\ncreate two or more new securities, each with a specified percentage of the underlying security’s principal or interest payments.\nMortgage-backed securities may be partially stripped\nso that each investor class receives some interest and some principal. When securities\nare completely stripped, however, all of the interest is distributed to holders of one type of security known as an IO Security and\nall of the principal is distributed to holders of another type of security known as a PO Security. These securities, if any, are identified\non the Portfolio of Investments.

I. Mortgage\nDollar Rolls and TBA Transactions

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

J. Affiliated\nTransactions

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

Amounts relating to investments\nin affiliated funds at July 31, 2026, and for the fiscal year then ended are as follows:

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Security\n Name

Shares\n at

7/31/2026

Value\n at

7/31/2025

Purchases

Sales

Change\n in

Unrealized\n

Appreciation\n

(Depreciation)

Realized\n

Gain\n

(Loss)

Value\n at

7/31/2026

Dividend\n

Income

First\n Trust AAA CMBS ETF

20,000

$406,700

$—

$(4,000

)

$—

$402,700

$19,300

Distributions of capital gains\nfrom investments in First Trust AAA CMBS ETF were $960.

K. Dividends\nand Distributions to Shareholders

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

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

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

Page\n68

Notes\nto Financial Statements (Continued)

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026

The tax character\nof distributions paid by each Fund during the fiscal year ended July 31, 2026 were as follows:

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n \n	\n Distributions\n \n paid\n from \n Ordinary\n \n Income \n	\n Distributions\n \n paid\n from \n Capital\n \n Gains \n	\n Distributions\n \n paid\n from \n Return\n of \n Capital \n
\n First\n Trust Core Investment Grade ETF	\n $92,712,509 \n	\n $3,661,534 \n	\n $8,090,914 \n
\n First\n Trust AAA CMBS ETF	\n 1,312,572 \n	\n — \n	\n 108,830 \n
\n First\n Trust Structured Credit Income Opportunities ETF	\n 11,135,148 \n	\n — \n	\n 912,605 \n

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

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n \n	\n Distributions\n \n paid\n from \n Ordinary\n \n Income \n	\n Distributions\n \n paid\n from \n Capital\n \n Gains \n	\n Distributions\n \n paid\n from \n Return\n of \n Capital \n
\n First\n Trust Core Investment Grade ETF	\n $23,758,132 \n	\n $425,870 \n	\n $— \n
\n First\n Trust AAA CMBS ETF	\n 874,253 \n	\n — \n	\n — \n
\n First\n Trust Structured Credit Income Opportunities ETF	\n 1,128,103 \n	\n — \n	\n — \n

As of July 31, 2026, the components\nof distributable earnings on a tax basis for each Fund were as follows:\n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n \n

Undistributed\n

Ordinary\n

Income

Accumulated\n

Capital\n and

Other\n

Gain\n (Loss)

Net\n

Unrealized\n

Appreciation\n

(Depreciation)

First\n Trust Core Investment Grade ETF

$—

$(10,123,336

)

$(44,891,884

)

First\n Trust AAA CMBS ETF

—

(183,486

)

(77,654

)

First\n Trust Structured Credit Income Opportunities ETF

—

(1,894,828

)

(3,626,958

)

L. Income\nTaxes

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

The Funds are subject to accounting\nstandards that establish a minimum threshold for recognizing, and a system for measuring, the benefits\nof a tax position taken or expected to be taken in a tax return. The taxable period ended 2024, and taxable years ended 2025 and\n2026 remain open to federal and state audit. As of July 31, 2026, management has evaluated the application of these standards to the\nFunds 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\nprovisions of the federal income tax laws, which allow it to carry a realized capital loss forward indefinitely\nfollowing the year of the loss and offset such loss against any future realized capital gains. Each Fund is subject to certain limitations\nunder U.S. tax rules on the use of capital loss carryforwards and net unrealized built-in losses. These limitations apply when\nthere has been a 50% change in ownership. At July 31, 2026, for federal income tax purposes, each applicable Fund had a capital\nloss carryforward available that is shown in the following table, to the extent provided by regulations, to offset future capital gains.\nTo the extent that these loss carryforwards are used to offset future capital gains, it is probable that the capital gains so offset will\nnot be distributed to each applicable Fund’s shareholders.

\n \n \n \n \n \n \n \n \n \n

\n \n

Non-Expiring\n

Capital\n Loss

Carryforwards

First\n Trust Core Investment Grade ETF

$—

First\n Trust AAA CMBS ETF

—

Page\n69

Notes\nto Financial Statements (Continued)

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026

\n \n \n \n \n \n \n

\n \n

Non-Expiring

Capital\n Loss

Carryforwards

First\n Trust Structured Credit Income Opportunities ETF

$1,894,828

Certain losses realized during\nthe current fiscal year may be deferred and treated as occurring on the first day of the following fiscal year\nfor federal income tax purposes. For the fiscal year ended July 31, 2026, the following Funds incurred and elected to defer net late\nyear ordinary or capital losses as follows:

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n \n	\n Qualified\n Late Year Losses
\n \n	\n Ordinary\n Losses	\n Capital\n Losses
\n First\n Trust Core Investment Grade ETF	\n $— \n	\n $10,123,336 \n
\n First\n Trust AAA CMBS ETF	\n — \n	\n 183,486 \n
\n \n	\n	\n

In order to present paid-in\ncapital and accumulated distributable earnings (loss) (which consists of accumulated net investment income (loss),\naccumulated net realized gain (loss) on investments and net unrealized appreciation (depreciation) on investments) on the Statements\nof Assets and Liabilities that more closely represent their tax character, certain adjustments have been made to paid-in capital,\naccumulated net investment income (loss) and accumulated net realized gain (loss) on investments. These adjustments are primarily\ndue to the difference between book and tax treatments of income and gains on various investment securities held by the Funds.\nThe results of operations and net assets were not affected by these adjustments. For the fiscal year ended July 31, 2026, the adjustments\nfor each Fund were as follows:

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n \n	\n Accumulated\n \n Net Investment\n \n Income\n (Loss)	\n Accumulated\n \n Net Realized\n \n Gain\n (Loss) \n on Investments \n	\n Paid-In\n \n Capital \n
\n First\n Trust Core Investment Grade ETF	\n $(23,903 \n ) \n	\n $23,903 \n	\n $— \n
\n First\n Trust AAA CMBS ETF	\n 5,494 \n	\n (5,494 \n ) \n	\n — \n
\n First\n Trust Structured Credit Income Opportunities ETF	\n (15,609 \n ) \n	\n 15,609 \n	\n — \n

As of July 31, 2026, the aggregate\ncost, gross unrealized appreciation, gross unrealized depreciation, and net unrealized appreciation/(depreciation)\non investments (including short positions and derivatives, if any) for federal income tax purposes were as follows:

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n \n	\n Tax Cost \n	\n Gross\n \n Unrealized\n \n Appreciation \n	\n Gross\n \n Unrealized\n \n (Depreciation) \n	\n Net Unrealized\n \n Appreciation\n \n (Depreciation) \n
\n First\n Trust Core Investment Grade ETF	\n $2,692,971,416 \n	\n $5,119,827 \n	\n $(50,011,711 \n ) \n	\n $(44,891,884 \n ) \n
\n First\n Trust AAA CMBS ETF	\n 35,123,667 \n	\n 242,961 \n	\n (320,615 \n ) \n	\n (77,654 \n ) \n
\n First\n Trust Structured Credit Income Opportunities ETF	\n 513,972,344 \n	\n 1,944,941 \n	\n (5,571,899 \n ) \n	\n (3,626,958 \n ) \n

M. Expenses

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

N. Segment\nReporting

An operating segment is defined\nin FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable\nSegment Disclosures as a component of a public entity that engages in business activities from which it may recognize revenues\nand incur expenses, has operating results that are regularly reviewed by the public entity’s chief operating decision maker (“CODM”)\nto make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information\navailable. The CODM is the President and Chief Executive Officer of each Fund. Each Fund operates as a single operating\nsegment. Each Fund’s income, expenses, assets, changes in net assets resulting from operations and performance are regularly\nmonitored and assessed as a whole by the CODM responsible for oversight functions of each Fund, using the information presented\nin the financial statements and financial highlights.

Page\n70

Notes\nto Financial Statements (Continued)

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026

3. Investment\nAdvisory Fee, Affiliated Transactions and Other Fee Arrangements

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

Pursuant to the Investment Management\nAgreement between the Trust and the Advisor, First Trust manages the investment of each Fund’s\nassets and is responsible for the expenses of each Fund, including the cost of transfer agency, custody, fund administration, legal,\naudit, and other services, but excluding fee payments under the Investment Management Agreement, interest, taxes, if any, brokerage\ncommissions and other expenses connected with the execution of portfolio transactions, distribution and service fees payable\npursuant to a Rule 12b-1 plan, if any, acquired fund fees and expenses, and extraordinary expenses, which are paid by each respective\nFund. The annual unitary management fee payable by FTCB to First Trust for these services will be reduced at certain levels\nof FTCB’s net assets (“breakpoints”) and calculated pursuant to the following schedule:

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n Breakpoints \n	\n FTCB \n
\n Fund\n net assets up to and including $2.5 billion	\n 0.55000 \n % \n
\n Fund\n net assets greater than $2.5 billion up to and including $5 billion	\n 0.53625 \n % \n
\n Fund\n net assets greater than $5 billion up to and including $7.5 billion	\n 0.52250 \n % \n
\n Fund\n net assets greater than $7.5 billion up to and including $10 billion	\n 0.50875 \n % \n
\n Fund\n net assets greater than $10 billion	\n 0.49500 \n % \n

Effective February 1, 2026,\nCAAA and SCIO have agreed to pay First Trust an annual unitary management fee based on each Fund’s average\ndaily net assets at a rate set forth below:

\n \n \n \n \n \n \n \n \n \n

\n \n

Rate

First\n Trust AAA CMBS ETF

0.29

First\n Trust Structured Credit Income Opportunities ETF

0.69

Prior to February 1, 2026, the\nannual unitary management fee payable by CAAA and SCIO to First Trust for these services was reduced\nat certain breakpoints and calculated pursuant to the following schedule:

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Breakpoints

CAAA

SCIO

Fund\n net assets up to and including $2.5 billion

0.45000

0.85000

Fund\n net assets greater than $2.5 billion up to and including $5 billion

0.43875

0.82875

Fund\n net assets greater than $5 billion up to and including $7.5 billion

0.42750

0.80750

Fund\n net assets greater than $7.5 billion up to and including $10 billion

0.41625

0.78625

Fund\n net assets greater than $10 billion

0.40500

0.76500

From January 1, 2026 to January\n31, 2026, for each of CAAA and SCIO, the Advisor waived management fees of 0.16% of average daily\nnet assets. During any period in which such waiver was in effect, each such Fund was not eligible for any breakpoint discounts. During\nthe year ended July 31, 2026, the Advisor waived fees of $3,894 and $19,289 for CAAA and SCIO, respectively.

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

Each Trustee who is not an officer\nor employee of First Trust, any sub-advisor or any of their affiliates (“Independent Trustees”) is paid\na fixed annual retainer that is allocated equally among each fund in the First Trust Fund Complex. Each Independent Trustee is also\npaid an annual per fund fee that varies based on whether the fund is a closed-end or other actively managed fund, a target outcome\nfund or an index fund.

Additionally, the Chairs of the\nAudit Committee, Nominating and Governance Committee and Valuation, Risk and Regulatory Oversight\nCommittee, the Vice Chair of the Audit Committee, the Lead Independent Trustee and the Vice Lead Independent Trustee

Page\n71

Notes\nto Financial Statements (Continued)

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026

are paid\nannual fees to serve in such capacities, with such compensation, prior to January 1, 2026, allocated pro rata among each fund in\nthe First Trust Fund Complex based on net assets, and effective January 1, 2026, allocated equally among each fund in the First Trust\nFund Complex. Independent Trustees are reimbursed for travel and out-of-pocket expenses in connection with all meetings. The officers\nand “Interested” Trustee receive no compensation from the Trust for acting in such capacities.

4. Purchases\nand Sales of Securities

For the fiscal year ended July\n31, 2026, the cost of purchases and proceeds from sales and paydowns of U.S. Government securities and\nnon-U.S. Government securities for each Fund, excluding short-term investments, investments sold short and in-kind transactions, were\nas follows:

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n \n	\n Purchases \n	\n Sales \n
\n First\n Trust Core Investment Grade ETF	\n	\n
\n U.S.\n Government securities	\n $2,096,843,897 \n	\n $1,396,617,165 \n
\n Non-U.S.\n Government securities	\n 1,168,603,793 \n	\n 416,199,156 \n
\n First\n Trust AAA CMBS ETF	\n	\n
\n U.S.\n Government securities	\n 3,148,994 \n	\n 1,005,644 \n
\n Non-U.S.\n Government securities	\n 19,946,345 \n	\n 3,995,015 \n
\n First\n Trust Structured Credit Income Opportunities ETF	\n	\n
\n U.S.\n Government securities	\n 176,769,262 \n	\n 80,462,760 \n
\n Non-U.S.\n Government securities	\n 464,204,210 \n	\n 55,830,858 \n

For FTCB, the cost of purchases\nto cover short sales and the proceeds from short sales were $791,622,868 and $854,634,124, respectively.

For SCIO, the cost of purchases\nto cover short sales and the proceeds from short sales were $62,352,129 and $72,251,539, respectively.

For the fiscal year ended July\n31, 2026, the Funds had no in-kind transactions.

5. Borrowings\n

The Trust, on behalf of SCIO,\nalong with First Trust Exchange-Traded Fund III, First Trust Series Fund and First Trust Variable Insurance\nTrust, has a credit agreement with BNY (the “Credit\nAgreement”)\nas administrative agent for a group of lenders. The borrowing\nrate is the higher of the federal funds effective rate and the adjusted daily simple SOFR rate plus 1.00%. The commitment amount\nunder the Credit Agreement is $620 million and such commitment amount may be increased up to $700 million with the consent\nof 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\ncommitment amount over the outstanding principal balance of the loans and an agency fee. The commitment fee and agency fee are\nallocated amongst the funds that have access to the credit line pursuant to procedures approved by the Board of Trustees. To the extent\nthat SCIO accesses the credit line, there would also be an interest fee charged. SCIO did not draw on the credit line during the fiscal\nyear ended July 31, 2026.

6. Derivative\nTransactions

The following table presents\nthe types of derivatives held by each Fund at July 31, 2026, the primary underlying risk exposure and the location\nof these instruments as presented on the Statements of Assets and Liabilities.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n \n	\n \n	\n Asset Derivatives \n	\n Liability Derivatives \n
\n Derivative \n Instrument \n	\n Risk \n Exposure \n	\n Statements of Assets\n and \n Liabilities Location \n	\n Value \n	\n Statements of Assets\n and \n Liabilities Location \n	\n Value \n
\n FTCB \n	\n \n	\n \n	\n	\n \n	\n
\n Options\n contracts	\n Interest\n Rate Risk	\n Options\n contracts \n purchased,\n at value	\n $41,750 \n	\n Options\n contracts written, \n at\n value	\n $9,876,800 \n
\n Futures\n contracts	\n Interest\n Rate Risk	\n Unrealized\n appreciation on \n futures\n contracts*	\n 4,712,521 \n	\n Unrealized\n depreciation on \n futures\n contracts*	\n 4,837,423 \n

Page\n72

Notes\nto Financial Statements (Continued)

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n \n	\n \n	\n Asset Derivatives \n	\n Liability Derivatives \n
\n Derivative \n Instrument \n	\n Risk \n Exposure \n	\n Statements of Assets\n and \n Liabilities Location \n	\n Value \n	\n Statements of Assets\n and \n Liabilities Location \n	\n Value \n
\n CAAA \n	\n \n	\n \n	\n	\n \n	\n
\n Futures\n contracts	\n Interest\n Rate Risk	\n Unrealized\n appreciation on \n futures\n contracts*	\n $5,187 \n	\n Unrealized\n depreciation on \n futures\n contracts*	\n $92,507 \n
\n SCIO \n	\n \n	\n \n	\n	\n \n	\n
\n Options\n contracts	\n Interest\n Rate Risk	\n Options\n contracts \n purchased,\n at value	\n 16,806 \n	\n Options\n contracts written, \n at\n value	\n 1,822,480 \n
\n Futures\n contracts	\n Interest\n Rate Risk	\n Unrealized\n appreciation on \n futures\n contracts*	\n 1,128,250 \n	\n Unrealized\n depreciation on \n futures\n contracts*	\n 866,704 \n

\n \n \n \n

Includes\n cumulative appreciation/depreciation on futures contracts as reported in each Fund’s Portfolio of Investments. Only the

current\n day’s variation margin is presented on the Statements of Assets and Liabilities.

The following table presents\nthe amount of net realized gain (loss) and change in net unrealized appreciation (depreciation) recognized for\nthe period ended July 31, 2026, on each Fund’s derivative instruments, as well as the primary underlying risk exposure associated\nwith the instruments.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n \n
\n Statements\n of Operations Location	\n FTCB \n	\n CAAA \n	\n SCIO \n
\n Interest\n Rate Risk Exposure	\n	\n	\n
\n Net\n realized gain (loss) on:	\n	\n	\n
\n Purchased\n options contracts	\n $(137,656 \n ) \n	\n $— \n	\n $(43,076 \n ) \n
\n Written\n options contracts	\n 6,290,543 \n	\n — \n	\n 372,853 \n
\n Futures\n contracts	\n (6,386,337 \n ) \n	\n (122,045 \n ) \n	\n (1,657,990 \n ) \n
\n Net\n change in unrealized appreciation \n (depreciation)\n on:	\n	\n	\n
\n Purchased\n options contracts	\n (11,609 \n ) \n	\n — \n	\n (8,800 \n ) \n
\n Written\n options contracts	\n (3,465,891 \n ) \n	\n — \n	\n (477,679 \n ) \n
\n Futures\n contracts	\n (282,605 \n ) \n	\n (85,254 \n ) \n	\n 290,129 \n

FTCB

The\naverage notional value of futures contracts outstanding during the fiscal year ended July 31, 2026, which is indicative of the volume\nof this derivative type, was $684,646,742.

During the fiscal year ended\nJuly 31, 2026, the premiums for purchased options contracts opened were $163,406 and the premiums for purchased\noptions contracts closed, exercised and expired were $137,656.

During the fiscal year ended\nJuly 31, 2026, the premiums for written options contracts opened were $16,747,832 and the premiums for written\noptions contracts closed, exercised and expired were $12,133,100.

CAAA

The\naverage notional value of futures contracts outstanding during the fiscal year ended July 31, 2026, which is indicative of the volume\nof this derivative type, was $10,098,993.

SCIO

The\naverage notional value of futures contracts outstanding during the fiscal year ended July 31, 2026, which is indicative of the volume\nof this derivative type, was $79,796,886.

During the fiscal year ended\nJuly 31, 2026, the premiums for purchased options contracts opened were $69,939 and the premiums for purchased\noptions contracts closed, exercised and expired were $50,739.

During the fiscal year ended\nJuly 31, 2026, the premiums for written options contracts opened were $2,259,064 and the premiums for written\noptions contracts closed, exercised and expired were $914,263.

Page\n73

Notes\nto Financial Statements (Continued)

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026

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

7. Creations,\nRedemptions and Transaction Fees

Each Fund generally issues and\nredeems its shares in primary market transactions through a creation and redemption mechanism and does\nnot sell or redeem individual shares. Instead, financial entities known as “Authorized Participants” have contractual arrangements\nwith a Fund or one of the Fund’s service providers\nto purchase and redeem Fund shares directly with the Fund in Creation Units. Prior to\nthe start of trading on every business day, a Fund publishes through the National Securities Clearing Corporation the “basket”\nof securities, cash or other assets that it will accept\nin exchange for a Creation Unit of the Fund’s shares. An Authorized Participant that wishes\nto effectuate a creation of a Fund’s shares deposits with the Fund the “basket” of securities, cash or other assets\nidentified by the Fund that day, and then receives\nthe Creation Unit of the Fund’s shares in return for those assets. After purchasing a Creation Unit, the\nAuthorized Participant may continue to hold the Fund’s shares or sell them in the secondary market. The redemption process is the\nreverse of the purchase process:\nthe Authorized Participant redeems a Creation Unit\nof a Fund’s shares for a basket of securities, cash or\nother assets. The combination of the creation and redemption process with secondary market trading in a Fund’s shares and underlying\nsecurities provides arbitrage opportunities that are designed to help keep the market price of a Fund’s shares at or close to the\nNAV per share of the Fund.

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

Each Fund also imposes fees in\nconnection with the redemption of Creation Units. These fees may vary based upon various fact-based circumstances,\nincluding, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the\ntransactions are settled. The price received for each Creation Unit will equal the daily NAV per share of a Fund times the number of\nshares in a Creation Unit, minus the fees described above and, if applicable, any operational processing and brokerage costs, transfer\nfees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising\nthe redemption basket. Investors who use the services of a broker or other such intermediary in addition to an Authorized Participant\nto effect a redemption of a Creation Unit may also be assessed an amount to cover the cost of such services. The redemption\nfee 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\nvalue of the shares redeemed.

8. Distribution\nPlan

The Board of Trustees adopted\na Distribution and Service Plan pursuant to Rule 12b-1 under the 1940 Act. In accordance with the Rule\n12b-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\nPortfolios L.P. (“FTP”), the distributor of the Funds, for amounts expended to finance activities primarily intended to result\nin the sale of Creation Units or the provision of investor\nservices. FTP may also use this amount to compensate securities dealers or other persons\nthat are Authorized Participants for providing distribution assistance, including broker-dealer and shareholder support and educational\nand promotional services.

No 12b-1 fees are currently paid\nby the Funds, and pursuant to a contractual arrangement, no 12b-1 fees will be paid any time before March\n31, 2027.

9. Indemnification

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

10. Subsequent\nEvents

Management has evaluated the\nimpact of all subsequent events on the Funds through the date the financial statements were issued and has\ndetermined that there were no subsequent events requiring recognition or disclosure in the financial statements that have not already\nbeen disclosed.

Page\n74

Report\nof Independent Registered Public Accounting Firm

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

Opinion on the Financial Statements and Financial\nHighlights

We have audited the accompanying\nstatements of assets and liabilities, of First Trust Core Investment Grade ETF, First Trust AAA CMBS\nETF, and First Trust Structured Credit Income Opportunities ETF (the “Funds”), each a series of the First Trust Exchange-Traded\nFund IV, including the portfolios of investments, as of July 31, 2026, and the related statements of operations, statements of changes\nin net assets, financial highlights for the periods indicated in the table below, and the related notes (collectively referred to as the\n“financial statements and financial highlights”). In our opinion, the financial statements and financial highlights present\nfairly, in all material respects, the financial position\nof the Funds as of July 31, 2026, and the results of their operations for the year then ended, the\nchanges in their net assets, and the financial highlights for the periods listed in the table below in conformity with accounting principles\ngenerally accepted in the United States of America.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Individual\n Funds Included

in\n the Trust

Statements\n of

Operations

Statements\n of Changes in

Net\n Assets

Financial\n Highlights

First\n Trust Core Investment Grade ETF

For\n the year ended

July\n 31, 2026

For\n the years ended July 31,

2026\n and 2025

For\n the years ended July 31, 2026,

2025,\n and for the period from

November\n 7, 2023

(commencement\n of investment

operations)\n through July 31, 2024

First\n Trust AAA CMBS ETF

For\n the year ended

July\n 31, 2026

For\n the years ended July 31,

2026\n and 2025

For\n the years ended July 31, 2026,

2025\n and for the period from

February\n 27, 2024 (commencement

of\n investment operations) through

July\n 31, 2024

First\n Trust Structured Credit Income

Opportunities\n ETF

For\n the year ended

July\n 31, 2026

For\n the years ended July 31,

2026\n and 2025

For\n the years ended July 31, 2026,

2025\n and for the period from

February\n 27, 2024 (commencement

of\n investment operations) through

July\n 31, 2024

Basis for Opinion

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

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

Our audits included performing\nprocedures to assess the risks of material misstatement of the financial statements and financial highlights,\nwhether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on\na test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included\nevaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation\nof the financial statements and financial highlights. Our procedures included confirmation of securities owned as of July\n31, 2026, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing\nprocedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

Chicago,\nIllinois
September 23, 2026

Page\n75

Report\nof Independent Registered Public Accounting Firm (Continued)

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

Page\n76

Other\nInformation

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026 (Unaudited)

Changes in and\nDisagreements with Accountants (Item 8 of Form N-CSR)

There were no changes in or disagreements\nwith the Funds’ accountants during the fiscal year ended July 31, 2026.

Proxy Disclosures (Item 9 of Form N-CSR)

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

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

James\n A. Bowen*

Votes\n For

Votes\n Withheld

628,680,173\n

2,971,002

Thomas\n J. Driscoll**

Votes\n For

Votes\n Withheld

628,326,094\n

3,325,081

Richard\n E. Erickson*

Votes\n For

Votes\n Withheld

627,601,340\n

4,049,835

Thomas\n R. Kadlec*

Votes\n For

Votes\n Withheld

628,267,057\n

3,384,118

Denise\n M. Keefe***

Votes\n For

Votes\n Withheld

628,669,113\n

2,982,062

Robert\n F. Keith*

Votes\n For

Votes\n Withheld

627,601,979\n

4,049,196

Niel\n B. Nielson*

Votes\n For

Votes\n Withheld

628,257,742\n

3,393,433

Bronwyn\n Wright***

Votes\n For

Votes\n Withheld

379,700,285\n

251,950,890

\n \n \n \n \n \n \n \n \n \n

\n * \n	\n This\n nominee was re-elected to the Board at the Special Meeting.
\n ** \n	\n This\n nominee was elected to the Board as a new Trustee at the Special Meeting.
\n *** \n	\n This\n nominee was elected to the Board at the Special Meeting and had previously been appointed to the Board.

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

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

Statement Regarding the Basis for the Board’s\nApproval of Investment Advisory Contract (Item 11 of Form N-CSR)

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

First\nTrust AAA CMBS ETF (CAAA)
First Trust Core Investment\nGrade ETF (FTCB)
First Trust Structured Credit\nIncome Opportunities ETF (SCIO)

Page\n77

Other\nInformation (Continued)

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026 (Unaudited)

The Board\napproved the continuation of the Agreement for each Fund for a one-year period ending June 30, 2027 at a meeting held on June\n7–8, 2026. The Board determined for each Fund that the continuation of the Agreement is in the best interests of the Fund in light\nof the nature, extent and quality of the services provided\nand such other matters as the Board considered to be relevant in the exercise of\nits business judgment.

To reach this determination for\neach Fund, the Board considered its duties under the Investment Company Act of 1940, as amended (the\n“1940 Act”), as well as under the general principles of state law, in reviewing and approving advisory contracts; the requirements\nof the 1940 Act in such matters; the fiduciary duty\nof investment advisors with respect to advisory agreements and compensation; the standards\nused by courts in determining whether investment company boards have fulfilled their duties; and the factors to be considered\nby the Board in voting on such agreements. At meetings held on April 13, 2026 and June 7–8, 2026, the Board, including the\nIndependent Trustees, reviewed materials provided by the Advisor responding to requests for information from counsel to the Independent\nTrustees, submitted on behalf of the Independent Trustees, that, among other things, outlined:\nthe services provided by the\nAdvisor to each Fund (including the relevant personnel responsible for these services and their experience); the unitary fee rate schedule\npayable by each Fund as compared to fees charged to a peer group of funds (the “Expense Group”) and a broad peer universe\nof funds (the “Expense Universe”), each\nassembled by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent source, and\nas compared to fees charged to other clients of the Advisor, including other exchange-traded funds (“ETFs”) managed by the\nAdvisor; the expense ratio of each Fund as compared\nto expense ratios of the funds in the Fund’s Expense Group and Expense Universe;\nperformance information for each Fund, including comparisons of each Fund’s performance to that of one or more relevant benchmark\nindexes and to that of a performance group of funds and a broad performance universe of funds (the “Performance Universe”),\neach assembled by Broadridge; the nature of expenses incurred in providing services to each Fund and the potential for the Advisor\nto realize economies of scale, if any; profitability and other financial data for the Advisor; any indirect benefits to the Advisor and\nits affiliate, First Trust Portfolios L.P. (“FTP”); and information on the Advisor’s compliance program. The Board reviewed\ninitial materials with the Advisor at the meeting held\non April 13, 2026, prior to which the Independent Trustees and their counsel met separately\nto discuss the information provided by the Advisor. Following the April meeting, counsel to the Independent Trustees, on behalf\nof the Independent Trustees, requested certain clarifications and supplements to the materials provided, and the information provided\nin response to those requests was considered at an executive session of the Independent Trustees and their counsel held prior to\nthe June 7–8, 2026 meeting, as well as at the June meeting. The Board applied its business judgment to determine whether the arrangement\nbetween the Trust and the Advisor continues to be a reasonable business arrangement from each Fund’s perspective. The Board\ndetermined that, given the totality of the information provided with respect to the Agreement, the Board had received sufficient information\nto renew the Agreement. The Board considered that shareholders chose to invest or remain invested in a Fund knowing that\nthe Advisor manages the Fund and knowing the Fund’s unitary fee.

In reviewing the Agreement for\neach Fund, the Board considered the nature, extent and quality of the services provided by the Advisor under\nthe Agreement. The Board considered that the Advisor is responsible for the overall management and administration of the Trust\nand each Fund and reviewed all of the services provided by the Advisor to the Funds, as well as the background and experience of\nthe persons responsible for such services. The Board noted that each Fund is an actively-managed ETF. The Board noted that the Advisor’s\nGovernment & Securitized Products Team is responsible for the day-to-day management of CAAA’s and SCIO’s investments,\nand that the Advisor’s Government & Securitized Products Team and Investment Grade Fixed Income Team are responsible\nfor day-to-day management of FTCB’s investments. The Board considered the background and experience of the members of\nthe Teams and noted the Board’s prior meetings with members of the Teams. The Board considered the Advisor’s statement that\nit applies the same oversight model internally with\nits Government & Securitized Products Team and Investment Grade Fixed Income Team\nas it uses for overseeing external sub-advisors, including portfolio risk monitoring and performance review. In reviewing the services\nprovided, the Board noted the compliance program that had been developed by the Advisor and considered that it includes a robust\nprogram for monitoring the Advisor’s and each Fund’s compliance with the 1940 Act, as well as each Fund’s compliance\nwith its investment objective, policies and restrictions.\nThe Board also considered a report from the Advisor with respect to its risk management\nfunctions related to the operation of the Funds. Finally, as part of the Board’s consideration of the Advisor’s services,\nthe Advisor, in its written materials and at the April\n13, 2026 meeting, described to the Board the scope of its ongoing investment in additional\npersonnel and infrastructure to maintain and improve the quality of services provided to the Funds and the other funds in the First\nTrust Fund Complex. In light of the information presented and the considerations made, the Board concluded that the nature, extent\nand quality of the services provided to the Trust and each Fund by the Advisor under the Agreement have been and are expected\nto remain satisfactory and that the Advisor has managed each Fund consistent with its investment objective, policies and restrictions.

The Board considered the unitary\nfee rate schedule payable by each Fund under the Agreement for the services provided. The Board considered\nthat as part of the unitary fee the Advisor is responsible for each Fund’s expenses, including the cost of transfer agency,

Page\n78

Other\nInformation (Continued)

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026 (Unaudited)

custody,\nfund administration, legal, audit and other services and license fees, if any, but excluding the fee payment under the Agreement\nand interest, taxes, acquired fund fees and expenses, brokerage commissions and other expenses connected with the execution\nof portfolio transactions, distribution and service fees pursuant to a Rule 12b-1 plan, if any, and extraordinary expenses, if any.\nThe Board received and reviewed information showing the fee rates and expense ratios of the peer funds in the Expense Groups, as\nwell as advisory and unitary fee rates charged by the Advisor to other fund (including ETFs) and non-fund clients, as applicable. Because\neach Fund pays a unitary fee, the Board determined that expense ratios were the most relevant comparative data point. The Board\nnoted that, effective February 1, 2026, CAAA’s and SCIO’s unitary fee rate was reduced to an annual rate of 0.29% and 0.69%\nof its average daily net assets, respectively. Based\non the information provided, the Board noted that the total (net) expense ratio for FTCB\nand SCIO was above the median total (net) expense ratio of the peer funds in its respective Expense Group and that the total (net)\nexpense ratio for CAAA was below the median total (net) expense ratio of the peer funds in its Expense Group. With respect to the\nExpense Groups, the Board discussed with the Advisor limitations in creating peer groups for actively-managed ETFs, and different\nbusiness models that may affect the pricing of services among ETF sponsors. The Board took these limitations and differences\ninto account in considering the peer data. With respect to fees charged to other non-ETF clients, the Board considered differences\nbetween the Funds and other non-ETF clients that limited their comparability. In considering the unitary fee rate schedules overall,\nthe Board also considered the Advisor’s statement that it seeks to meet investor needs through innovative and value-added investment\nsolutions and the Advisor’s demonstrated long-term commitment to each Fund and the other funds in the First Trust Fund Complex.

The Board considered performance\ninformation for each Fund. The Board noted the process it has established for monitoring each Fund’s\nperformance and portfolio risk on an ongoing basis, which includes quarterly performance reporting from the Advisor for the Funds.\nThe Board determined that this process continues to be effective for reviewing each Fund’s performance. The Board also received\nand reviewed information comparing each Fund’s performance for the one-year period ended December 31, 2025 to the performance\nof the funds in its Performance Universe and to that of a benchmark index.

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

The Board considered information\nand discussed with the Advisor whether there were any economies of scale in connection with providing\nadvisory services to the Funds at current asset levels and whether the Funds may benefit from any economies of scale. The Board\nnoted that the unitary fee rate schedule for FTCB includes breakpoints pursuant to which the unitary fee rate will be reduced as assets\nof the Fund meet certain thresholds. The Board considered the Advisor’s statement that it believes that its expenses relating to\nproviding advisory services to the Funds will increase\nduring the next twelve months as the Advisor continues to build infrastructure, including\ntechnology, and add new staff. The Board also noted that under the unitary fee structure, any reduction in expenses associated\nwith the management and operations of the Funds would benefit the Advisor, but that the unitary fee structure provides a level\nof certainty in expenses for shareholders of the Funds. The Board concluded that the unitary fee rate schedule for each Fund reflects\nan appropriate level of sharing of any economies of scale that may be realized in the management of the Fund at current asset levels.\nThe Board considered the revenues and allocated costs (including the allocation methodology) of the Advisor in serving as investment\nadvisor to each Fund for the twelve months ended December 31, 2025 and the estimated profitability level for each Fund calculated\nby the Advisor based on such data, as well as complex-wide and product-line profitability data, for the same period. The Board\nnoted the inherent limitations in the profitability analysis and concluded that, based on the information provided, the Advisor’s\nprofitability level for each Fund was not unreasonable.\nIn addition, the Board considered indirect benefits described by the Advisor that\nmay be realized from its relationship with the Funds. The Board considered that the Advisor had identified as an indirect benefit to\nthe Advisor and FTP the exposure of their products to investors and brokers who, absent their exposure to the Funds, may have had no\ndealings with the Advisor or FTP, and noted that the Advisor does not utilize soft dollars in connection with the Funds. The Board concluded\nthat the character and amount of potential indirect benefits to the Advisor were not unreasonable.

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

Remuneration Disclosure Under the Alternative\nInvestment Fund Managers Directive

First Trust Advisors L.P. (“First\nTrust”) is authorised and regulated by the U.S. Securities and Exchange Commission and is entitled to market\nshares of certain First Trust Exchange-Traded Fund IV funds it manages (the “Funds”) in certain member states in the

Page\n79

Other\nInformation (Continued)

First Trust Exchange-Traded\nFund IV\n\n

July 31, 2026 (Unaudited)

European\nEconomic Area in accordance with the cooperation arrangements in Article 42 of the Alternative Investment Fund Managers Directive\n(the “Directive”). First Trust is required under the Directive to make disclosures in respect of remuneration. The following\ndisclosures are made in line with First Trust’s\ninterpretation of currently available regulatory guidance on remuneration disclosures.

During the year ended December\n31, 2025, the amount of remuneration paid (or to be paid) by First Trust Advisors L.P. in respect of the\nFunds is $1,159,188. This figure is comprised of $63,957 paid (or to be paid) in fixed compensation and $1,095,231 paid (or to be paid)\nin variable compensation. There were a total of 26 beneficiaries of the remuneration described above. Those amounts include $275,639\npaid (or to be paid) to senior management of First Trust Advisors L.P. and $883,549 paid (or to be paid) to other employees whose\nprofessional activities have a material impact on the risk profiles of First Trust Advisors L.P. or the Funds (collectively, “Code\nStaff”).

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

to\nprovide a clear link between remuneration and performance of First Trust and to avoid rewarding for failure;

ii.

to\npromote sound and effective risk management consistent with the risk profiles of the funds managed by First Trust; and

iii.

to\nremunerate staff in line with the business strategy, objectives, values and interests of First Trust and the funds managed by\nFirst Trust in a manner that avoids conflicts of interest.

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

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

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

No individual is involved in\nsetting his or her own remuneration.

Federal Tax Information

Distributions paid to foreign\nshareholders during each Fund’s fiscal year ended July 31, 2026 that were properly designated by each Fund\nas “interest-related dividends” or “short-term capital gain dividends,” may not be subject to federal income tax\nprovided that the income was earned directly by such\nforeign shareholders.

Of the ordinary income (including\nshort-term capital gain) distributions made by each Fund during the fiscal year ended July 31, 2026, none\nqualify for the corporate dividends received deduction available to corporate shareholders or as qualified dividend income.

Page\n80

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

Item 8. Changes in and Disagreements with Accountants for Open-End\nManagement Investment Companies.

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

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

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

Item 11. Statement Regarding Basis for Approval of Investment\nAdvisory Contract.

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

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

Not applicable to the Registrant.

Item 13. Portfolio Managers of Closed-End Management Investment\nCompanies.

Not applicable to the Registrant.

Item 14. Purchases of Equity Securities by Closed-End Management\nInvestment 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\nprocedures by which the shareholders may recommend nominees to the Registrant’s board of directors, where those changes were implemented\nafter the Registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407)\n(as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.

Item 16. Controls and Procedures.

\n \n \n \n

(a)

The Registrant’s principal executive and principal financial officers,\n or persons performing similar functions, have concluded that the Registrant’s disclosure controls and procedures (as defined in\n Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective,\n 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\n 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\n the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).

\n \n \n \n

(b)

There were no changes in the Registrant’s internal control over financial\n 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\n 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\nManagement Investment Companies.

\n \n \n \n

(a)

Not applicable to the Registrant.

\n \n \n \n

(b)

Not applicable to the Registrant.

Item 18. Recovery of Erroneously Awarded Compensation.

\n \n \n \n

(a)

Not applicable to the Registrant.

\n \n \n \n

(b)

Not applicable to the Registrant.

Item 19. Exhibits.

\n \n \n \n

(a)(1)

Code of ethics, or any amendment thereto, that is the subject of disclosure required\n by Item 2 is attached hereto.

\n \n \n \n

(a)(2)

Not applicable to the Registrant.

\n \n \n \n

(a)(3)

The certifications required by Rule 30a-2(a) under the 1940 Act and Section 302 of\n the Sarbanes-Oxley Act of 2002 are attached hereto.

\n \n \n \n

(a)(4)

Not applicable to the Registrant.

\n \n \n \n

(a)(5)

Not applicable to the Registrant.

\n \n \n \n

(b)

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

SIGNATURES

Pursuant to the requirements of the Securities Exchange\nAct 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,\nthereunto duly authorized.

\n \n \n \n \n

(registrant)

First Trust Exchange-Traded Fund IV

\n \n \n \n \n \n \n \n \n

By (Signature and Title)*		/s/ James M. Dykas
		James M. Dykas, President and Chief Executive Officer (principal executive officer)

\n \n \n \n \n \n

Date:

October 9, 2026

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

\n \n \n \n \n \n \n \n \n

By (Signature and Title)*		/s/ James M. Dykas
		James M. Dykas, President and Chief Executive Officer (principal executive officer)

\n \n \n \n \n \n

Date:

October 9, 2026

\n \n \n \n \n \n \n \n \n

By (Signature and Title)*		/s/ Derek D. Maltbie
		Derek D. Maltbie, Treasurer, Chief Financial Officer and Chief Accounting Officer (principal financial\n officer)

\n \n \n \n \n \n

Date:

October 9, 2026

^* Print the name and title of each signing officer under his\nor her signature.

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