First Trust Advisors L.P. (“First Trust”) announced today that the Board
of Trustees (the “Board”) of First Trust Exchange-Traded Fund IV (the
“Trust”), has approved a name change for First Trust High Yield
Long/Short ETF (the “Fund”), a series of the Trust. Effective September
4, 2013, the Fund’s name will change to “First Trust Tactical High Yield
ETF.” The Fund’s ticker symbol (NASDAQ: HYLS) and CUSIP will not change.
The Fund is an actively managed exchange-traded fund that seeks to
provide current income as its primary investment objective. The Fund’s
secondary investment objective is to provide capital appreciation. Under
normal market conditions, the Fund invests at least 80% of its net
assets (plus the amount of any borrowing for investment purposes) in
high yield debt securities that are rated below investment grade at the
time of purchase or unrated securities deemed by the Fund’s advisor to
be of comparable quality.
First Trust has served as the Fund’s investment advisor since the Fund’s
inception on February 25, 2013. First Trust along with its affiliate,
First Trust Portfolios L.P., are privately-held companies which provide
a variety of investment services, including asset management and
financial advisory services, with collective assets under management or
supervision of approximately $73 billion as of July 31, 2013, through
unit investment trusts, exchange-traded funds, closed-end funds, mutual
funds and separately managed accounts.
You should consider the investment objectives, risks, charges and
expenses of the Fund before investing. The prospectus for the Fund
contains this and other important information and is available free of
charge by calling toll-free at 1-800-621-1675 or visiting www.ftportfolios.com.
A prospectus should be read carefully before investing.
Past performance is no assurance of future results. Principal Risk
Factors: A Fund’s shares will change in value, and you could lose money
by investing in a Fund. An investment in a Fund is not a deposit of a
bank and is not insured or guaranteed by the Federal Deposit Insurance
Corporation or any other governmental agency. There can be no assurance
that a Fund’s investment objectives will be achieved. An investment in a
Fund involves risks similar to those of investing in any portfolio of
equity securities traded on exchanges. The risks of investing in each
Fund are spelled out in its prospectus, shareholder report, and other
regulatory filings.
An actively managed ETF is subject to management risk because it is an
actively managed portfolio. In managing such a Fund’s investment
portfolio, the portfolio managers will apply investment techniques and
risk analyses that may not have the desired result. There can be no
guarantee that a Fund will meet its investment objective. The Fund is
subject to convertible bonds risk, credit risk, distressed securities
risk, high yield securities risk, interest rate risk, loans risk,
prepayment risk and short sale risk.
Investors buying or selling Fund shares on the secondary market may
incur brokerage commissions. Investors who sell Fund shares may receive
less than the share’s net asset value. Unlike shares of open-end mutual
funds, investors are generally not able to purchase Fund shares directly
from the Fund and individual shares are not redeemable. However,
specified large blocks of shares called “creation units” can be
purchased from, or redeemed to, the Fund.
The Fund’s daily closing price and net asset value per share as well as
other information can be found at www.ftportfolios.com
or by calling 1-800-988-5891.
Copyright Business Wire 2013