First Trust Announces Shareholder Approval of New Investment Strategy for First Trust Strategic Income ETF

First Trust Advisors L.P. ("FTA") announced today that the shareholders of First Trust Strategic Income ETF (NASDAQ:FDIV) (the "Fund"), an actively managed exchange-traded fund and a series of First Trust Exchange-Traded Fund IV, have voted to approve certain changes to the Fund's principal investment strategies.

FTA previously announced that it was seeking shareholder approval for certain changes to the Fund's principal investment strategies. The changes will convert the Fund from its current investment strategy to a fund-of-funds strategy that follows FTA's First Trust High Income Model ("High Income Model"). More specifically, the Fund, through its investments in the ETFs selected through FTA's dynamic allocation process to comprise the High Income Model, will seek to provide investors with a diversified income stream by holding a blend of fixed-income ETF assets that, through this allocation process, is actively managed to seek levels of high income and total return. The changes will be effective in the Fund's portfolio on or around February 28, 2022. Additionally, on or around February 28, 2022, the Fund will change its name to First Trust High Income Strategic Focus ETF and the Fund's ticker symbol will change to "HISF." Additionally, the Fund's management fee will be reduced from 0.85% of average daily net assets to 0.20% of average daily net assets; however, shareholders will be responsible for the Fund's acquired fund fees and expenses, subject to a total fee and expense cap of 0.87% of average daily net assets. It is not anticipated that the Fund's trading exchange or CUSIP will change.

FTA is a federally registered investment advisor and serves as the Fund's investment advisor. FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $212 billion as of January 31, 2022 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.

You should consider the Fund's investment objective, risks, charges and expenses carefully before investing. You can download a prospectus or contact FTA to request a prospectus, which contains other information about the Fund. Read it carefully before you invest. The risks of investing in the Fund are spelled out in its prospectus, shareholder reports and other regulatory filings.

The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.

This press release does not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

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