0001517936 ftetfiv:C000102880Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000105232Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000121641Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000142755Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000144296Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000144500Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000159952Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000207230Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000213865Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000225182Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000229146Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000237940Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000238479Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000241798Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000243637Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000243955Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000243959Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000243963Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000248088Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000256813Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000256815Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000256817Member 2025-10-31 2026-04-30 0001517936 ftetfiv:C000257988Member 2025-10-31 2026-04-30 0001517936 2025-10-31 2026-04-30 0001517936 ftetfiv:C000102880Member 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:ConstructionAndEngineeringMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:ElectricalEquipmentMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:ElectricUtilitiesMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:EnergyTransferLPMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:EntergyCorpMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:EnterpriseProductsPartnersLPMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:GasUtilitiesMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:IndependentPowerAndRenewableElectricityProducersMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:KinderMorganIncMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:MachineryMember 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000102880Member 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:MorganStanleyInstitutionalLiquidityFundsTreasuryPortfolioInstitutionalClassMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:MPLXLPMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:MultiUtilitiesMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:NationalFuelGasCoMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:OilGasAndConsumableFuelsMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:PlainsGPHoldingsLPClassAMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:PPLCorpMember 2026-04-30 0001517936 ftetfiv:C000102880Member ftetfiv:SouthernTheCoMember 2026-04-30 0001517936 ftetfiv:C000102880Member oef:UnclassifiedSectorMember 2026-04-30 0001517936 ftetfiv:C000105232Member 2026-04-30 0001517936 ftetfiv:C000105232Member ftetfiv:CommercialServicesAndSuppliesMember 2026-04-30 0001517936 ftetfiv:C000105232Member ftetfiv:HealthCareProvidersAndServicesMember 2026-04-30 0001517936 ftetfiv:C000105232Member ftetfiv:HotelsRestaurantsAndLeisureMember 2026-04-30 0001517936 ftetfiv:C000105232Member ftetfiv:InsuranceMember 2026-04-30 0001517936 ftetfiv:C000105232Member ftetfiv:MachineryMember 2026-04-30 0001517936 ftetfiv:C000105232Member ftetfiv:MediaMember 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000105232Member 2026-04-30 0001517936 ftetfiv:C000105232Member ftetfiv:MoneyMarketFundsQualityMember 2026-04-30 0001517936 ftetfiv:C000105232Member ftetfiv:NRMember 2026-04-30 0001517936 ftetfiv:C000105232Member ftetfiv:SoftwareMember 2026-04-30 0001517936 ftetfiv:C000105232Member srt:StandardPoorsBBBRatingMember 2026-04-30 0001517936 ftetfiv:C000105232Member srt:StandardPoorsBBRatingMember 2026-04-30 0001517936 ftetfiv:C000105232Member srt:StandardPoorsBRatingMember 2026-04-30 0001517936 ftetfiv:C000105232Member srt:StandardPoorsCCCRatingMember 2026-04-30 0001517936 ftetfiv:C000105232Member ftetfiv:TradingCompaniesAndDistributorsMember 2026-04-30 0001517936 ftetfiv:C000105232Member oef:UnclassifiedSectorMember 2026-04-30 0001517936 ftetfiv:C000121641Member 2026-04-30 0001517936 ftetfiv:C000121641Member ftetfiv:BuildingProductsMember 2026-04-30 0001517936 ftetfiv:C000121641Member ftetfiv:CommercialServicesAndSuppliesMember 2026-04-30 0001517936 ftetfiv:C000121641Member us-gaap:FinancialServicesSectorMember 2026-04-30 0001517936 ftetfiv:C000121641Member ftetfiv:HealthCareProvidersAndServicesMember 2026-04-30 0001517936 ftetfiv:C000121641Member ftetfiv:HotelsRestaurantsAndLeisureMember 2026-04-30 0001517936 ftetfiv:C000121641Member ftetfiv:InsuranceMember 2026-04-30 0001517936 ftetfiv:C000121641Member ftetfiv:MediaMember 2026-04-30 0001517936 ftetfiv:C000121641Member ftetfiv:MoneyMarketFundsQualityMember 2026-04-30 0001517936 ftetfiv:C000121641Member ftetfiv:NRMember 2026-04-30 0001517936 ftetfiv:C000121641Member ftetfiv:SoftwareMember 2026-04-30 0001517936 ftetfiv:C000121641Member srt:StandardPoorsBBBRatingMember 2026-04-30 0001517936 ftetfiv:C000121641Member srt:StandardPoorsBBRatingMember 2026-04-30 0001517936 ftetfiv:C000121641Member srt:StandardPoorsBRatingMember 2026-04-30 0001517936 ftetfiv:C000121641Member srt:StandardPoorsCCCRatingMember 2026-04-30 0001517936 ftetfiv:C000121641Member ftetfiv:TradingCompaniesAndDistributorsMember 2026-04-30 0001517936 ftetfiv:C000121641Member oef:UnclassifiedSectorMember 2026-04-30 0001517936 ftetfiv:C000142755Member 2026-04-30 0001517936 ftetfiv:C000142755Member ftetfiv:A1ShortTermMember 2026-04-30 0001517936 ftetfiv:C000142755Member ftetfiv:A2ShortTermMember 2026-04-30 0001517936 ftetfiv:C000142755Member ftetfiv:A3ShortTermMember 2026-04-30 0001517936 ftetfiv:C000142755Member ftetfiv:AutoNationInc411050126Member 2026-04-30 0001517936 ftetfiv:C000142755Member ftetfiv:EnergyTransferLP393050126Member 2026-04-30 0001517936 ftetfiv:GovernmentAndAgencyMember ftetfiv:C000142755Member 2026-04-30 0001517936 ftetfiv:C000142755Member ftetfiv:HaleonUSCapitalLLC338032427Member 2026-04-30 0001517936 ftetfiv:C000142755Member ftetfiv:HuntingtonNationalBankThe487041228Member 2026-04-30 0001517936 ftetfiv:C000142755Member ftetfiv:KinderMorganInc175111526Member 2026-04-30 0001517936 ftetfiv:C000142755Member ftetfiv:PRAHealthSciencesInc288071526Member 2026-04-30 0001517936 ftetfiv:C000142755Member ftetfiv:QuantaServicesInc415050126Member 2026-04-30 0001517936 ftetfiv:C000142755Member srt:StandardPoorsAAARatingMember 2026-04-30 0001517936 ftetfiv:C000142755Member srt:StandardPoorsAARatingMember 2026-04-30 0001517936 ftetfiv:C000142755Member srt:StandardPoorsARatingMember 2026-04-30 0001517936 ftetfiv:C000142755Member srt:StandardPoorsBBBRatingMember 2026-04-30 0001517936 ftetfiv:C000142755Member ftetfiv:TargaResourcesCorp395050126Member 2026-04-30 0001517936 ftetfiv:C000142755Member ftetfiv:TMobileUSAInc375041527Member 2026-04-30 0001517936 ftetfiv:C000142755Member ftetfiv:USTreasuryNote375043027Member 2026-04-30 0001517936 ftetfiv:C000144296Member 2026-04-30 0001517936 us-gaap:ExchangeTradedFundsMember ftetfiv:C000144296Member 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000144296Member 2026-04-30 0001517936 ftetfiv:NetOtherAssetsAndLiabilitiesMember ftetfiv:C000144296Member 2026-04-30 0001517936 ftetfiv:C000144500Member 2026-04-30 0001517936 us-gaap:AssetBackedSecuritiesMember ftetfiv:C000144500Member 2026-04-30 0001517936 us-gaap:ExchangeTradedFundsMember ftetfiv:C000144500Member 2026-04-30 0001517936 ftetfiv:C000144500Member ftetfiv:ExchangeTradedFundsQualityMember 2026-04-30 0001517936 ftetfiv:GovernmentAndAgencyMember ftetfiv:C000144500Member 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000144500Member 2026-04-30 0001517936 ftetfiv:C000144500Member ftetfiv:MoneyMarketFundsQualityMember 2026-04-30 0001517936 us-gaap:MortgageBackedSecuritiesMember ftetfiv:C000144500Member 2026-04-30 0001517936 ftetfiv:NetOtherAssetsAndLiabilitiesMember ftetfiv:C000144500Member 2026-04-30 0001517936 ftetfiv:C000144500Member ftetfiv:NRMember 2026-04-30 0001517936 ftetfiv:ShortGovernmentAndAgencyMember ftetfiv:C000144500Member 2026-04-30 0001517936 ftetfiv:C000144500Member srt:StandardPoorsAAARatingMember 2026-04-30 0001517936 ftetfiv:C000144500Member srt:StandardPoorsAARatingMember 2026-04-30 0001517936 ftetfiv:C000144500Member srt:StandardPoorsARatingMember 2026-04-30 0001517936 ftetfiv:C000144500Member srt:StandardPoorsBBBRatingMember 2026-04-30 0001517936 ftetfiv:C000144500Member srt:StandardPoorsBBRatingMember 2026-04-30 0001517936 ftetfiv:C000144500Member srt:StandardPoorsCCCRatingMember 2026-04-30 0001517936 ftetfiv:USGovernmentAgencyMortgageBackedSecuritiesMember ftetfiv:C000144500Member 2026-04-30 0001517936 ftetfiv:USGovernmentAgencyMortgageBackedSecuritiesSoldShortMember ftetfiv:C000144500Member 2026-04-30 0001517936 ftetfiv:USGovernmentBondsAndNotesMember ftetfiv:C000144500Member 2026-04-30 0001517936 us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember ftetfiv:C000144500Member 2026-04-30 0001517936 us-gaap:USTreasuryBillSecuritiesMember ftetfiv:C000144500Member 2026-04-30 0001517936 ftetfiv:WrittenOptionsMember ftetfiv:C000144500Member 2026-04-30 0001517936 ftetfiv:C000159952Member 2026-04-30 0001517936 ftetfiv:C000159952Member ftetfiv:BloomEnergyCorp000111530Member 2026-04-30 0001517936 ftetfiv:C000159952Member ftetfiv:BoeingTheCo600101527Member 2026-04-30 0001517936 ftetfiv:C000159952Member oef:CommunicationsSectorMember 2026-04-30 0001517936 ftetfiv:C000159952Member oef:ConsumerDiscretionarySectorMember 2026-04-30 0001517936 ftetfiv:C000159952Member ftetfiv:DreyfusGovernmentCashManagementFundInstitutionalShares353Member 2026-04-30 0001517936 ftetfiv:C000159952Member us-gaap:EnergySectorMember 2026-04-30 0001517936 ftetfiv:C000159952Member us-gaap:FinancialServicesSectorMember 2026-04-30 0001517936 ftetfiv:C000159952Member us-gaap:HealthcareSectorMember 2026-04-30 0001517936 ftetfiv:C000159952Member oef:IndustrialSectorMember 2026-04-30 0001517936 ftetfiv:C000159952Member oef:InformationTechnologySectorMember 2026-04-30 0001517936 ftetfiv:C000159952Member ftetfiv:LiveNationEntertainmentInc288011530Member 2026-04-30 0001517936 ftetfiv:C000159952Member ftetfiv:LumentumHoldingsInc038031532Member 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000159952Member 2026-04-30 0001517936 ftetfiv:C000159952Member ftetfiv:MorganStanleyFinanceLLC013020728Member 2026-04-30 0001517936 ftetfiv:C000159952Member ftetfiv:MorganStanleyFinanceLLC013042630Member 2026-04-30 0001517936 ftetfiv:C000159952Member ftetfiv:NextEraEnergyCapitalHoldingsInc300030127Member 2026-04-30 0001517936 ftetfiv:C000159952Member ftetfiv:ONSemiconductorCorp050030129Member 2026-04-30 0001517936 ftetfiv:C000159952Member oef:UnclassifiedSectorMember 2026-04-30 0001517936 ftetfiv:C000159952Member oef:UtilitiesSectorMember 2026-04-30 0001517936 ftetfiv:C000159952Member ftetfiv:WesternDigitalCorp300111528Member 2026-04-30 0001517936 ftetfiv:C000207230Member 2026-04-30 0001517936 us-gaap:ExchangeTradedFundsMember ftetfiv:C000207230Member 2026-04-30 0001517936 ftetfiv:C000207230Member ftetfiv:ExchangeTradedFundsQualityMember 2026-04-30 0001517936 ftetfiv:GovernmentAndAgencyMember ftetfiv:C000207230Member 2026-04-30 0001517936 ftetfiv:NetOtherAssetsAndLiabilitiesMember ftetfiv:C000207230Member 2026-04-30 0001517936 ftetfiv:PurchasedOptionsMember ftetfiv:C000207230Member 2026-04-30 0001517936 ftetfiv:ShortGovernmentAndAgencyMember ftetfiv:C000207230Member 2026-04-30 0001517936 ftetfiv:USGovernmentAgencyMortgageBackedSecuritiesMember ftetfiv:C000207230Member 2026-04-30 0001517936 ftetfiv:USGovernmentAgencyMortgageBackedSecuritiesSoldShortMember ftetfiv:C000207230Member 2026-04-30 0001517936 ftetfiv:USGovernmentBondsAndNotesMember ftetfiv:C000207230Member 2026-04-30 0001517936 us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember ftetfiv:C000207230Member 2026-04-30 0001517936 us-gaap:USTreasuryBillSecuritiesMember ftetfiv:C000207230Member 2026-04-30 0001517936 ftetfiv:WrittenOptionsMember ftetfiv:C000207230Member 2026-04-30 0001517936 ftetfiv:C000213865Member 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:AmericanElectricPowerCoIncMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:CheniereEnergyPartnersLPMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:ConstructionAndEngineeringMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:DukeEnergyCorpMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:ElectricalEquipmentMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:ElectricUtilitiesMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:EnergyTransferLPMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:EnterpriseProductsPartnersLPMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:GasUtilitiesMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:IndependentPowerAndRenewableElectricityProducersMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:MachineryMember 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000213865Member 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:MorganStanleyInstitutionalLiquidityFundsTreasuryPortfolioInstitutionalClassMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:MultiUtilitiesMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:NationalFuelGasCoMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:OilGasAndConsumableFuelsMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:PPLCorpMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:SouthernTheCoMember 2026-04-30 0001517936 ftetfiv:C000213865Member oef:UnclassifiedSectorMember 2026-04-30 0001517936 ftetfiv:C000213865Member ftetfiv:WECEnergyGroupIncMember 2026-04-30 0001517936 ftetfiv:C000225182Member 2026-04-30 0001517936 us-gaap:CommonStockMember ftetfiv:C000225182Member 2026-04-30 0001517936 ftetfiv:C000225182Member oef:ConsumerDiscretionarySectorMember 2026-04-30 0001517936 ftetfiv:C000225182Member oef:ConsumerStaplesSectorMember 2026-04-30 0001517936 ftetfiv:C000225182Member us-gaap:EnergySectorMember 2026-04-30 0001517936 ftetfiv:C000225182Member us-gaap:FinancialServicesSectorMember 2026-04-30 0001517936 ftetfiv:C000225182Member us-gaap:HealthcareSectorMember 2026-04-30 0001517936 ftetfiv:C000225182Member oef:IndustrialSectorMember 2026-04-30 0001517936 ftetfiv:C000225182Member oef:MaterialsSectorMember 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000225182Member 2026-04-30 0001517936 ftetfiv:NetOtherAssetsAndLiabilitiesMember ftetfiv:C000225182Member 2026-04-30 0001517936 ftetfiv:C000225182Member us-gaap:RealEstateSectorMember 2026-04-30 0001517936 ftetfiv:C000225182Member oef:UnclassifiedSectorMember 2026-04-30 0001517936 ftetfiv:C000225182Member oef:UtilitiesSectorMember 2026-04-30 0001517936 ftetfiv:WrittenOptionsMember ftetfiv:C000225182Member 2026-04-30 0001517936 ftetfiv:C000229146Member 2026-04-30 0001517936 ftetfiv:C000229146Member ftetfiv:A2Member 2026-04-30 0001517936 ftetfiv:C000229146Member ftetfiv:A3Member 2026-04-30 0001517936 ftetfiv:C000229146Member ftetfiv:BerryGlobalInc550041528Member 2026-04-30 0001517936 ftetfiv:C000229146Member ftetfiv:ConstellationSoftwareInc516021629Member 2026-04-30 0001517936 ftetfiv:C000229146Member ftetfiv:CrowdstrikeHoldingsInc300021529Member 2026-04-30 0001517936 ftetfiv:C000229146Member ftetfiv:EnergyTransferLP393050126Member 2026-04-30 0001517936 ftetfiv:C000229146Member ftetfiv:FairIsaacCorp600051533Member 2026-04-30 0001517936 ftetfiv:C000229146Member ftetfiv:MSCIInc400111529Member 2026-04-30 0001517936 ftetfiv:C000229146Member ftetfiv:QuantaServicesInc450011531Member 2026-04-30 0001517936 ftetfiv:C000229146Member ftetfiv:SmurfitKappaTreasuryULC520011530Member 2026-04-30 0001517936 ftetfiv:C000229146Member srt:StandardPoorsAARatingMember 2026-04-30 0001517936 ftetfiv:C000229146Member srt:StandardPoorsARatingMember 2026-04-30 0001517936 ftetfiv:C000229146Member srt:StandardPoorsBBBRatingMember 2026-04-30 0001517936 ftetfiv:C000229146Member srt:StandardPoorsBBRatingMember 2026-04-30 0001517936 ftetfiv:C000229146Member srt:StandardPoorsBRatingMember 2026-04-30 0001517936 ftetfiv:C000229146Member ftetfiv:UnitedRentalsNorthAmericaInc600121529Member 2026-04-30 0001517936 ftetfiv:C000229146Member ftetfiv:VulcanMaterialsCo385050126Member 2026-04-30 0001517936 ftetfiv:C000237940Member 2026-04-30 0001517936 us-gaap:CommonStockMember ftetfiv:C000237940Member 2026-04-30 0001517936 ftetfiv:C000237940Member oef:CommunicationsSectorMember 2026-04-30 0001517936 ftetfiv:C000237940Member oef:ConsumerDiscretionarySectorMember 2026-04-30 0001517936 ftetfiv:C000237940Member oef:ConsumerStaplesSectorMember 2026-04-30 0001517936 ftetfiv:C000237940Member us-gaap:EnergySectorMember 2026-04-30 0001517936 ftetfiv:C000237940Member us-gaap:FinancialServicesSectorMember 2026-04-30 0001517936 ftetfiv:C000237940Member us-gaap:HealthcareSectorMember 2026-04-30 0001517936 ftetfiv:C000237940Member oef:IndustrialSectorMember 2026-04-30 0001517936 ftetfiv:C000237940Member oef:InformationTechnologySectorMember 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000237940Member 2026-04-30 0001517936 ftetfiv:C000237940Member ftetfiv:MoneyMarketFundsSectorMember 2026-04-30 0001517936 ftetfiv:NetOtherAssetsAndLiabilitiesMember ftetfiv:C000237940Member 2026-04-30 0001517936 ftetfiv:WrittenOptionsMember ftetfiv:C000237940Member 2026-04-30 0001517936 ftetfiv:C000238479Member 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:ConstructionAndEngineeringMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:ElectricalEquipmentMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:ElectricUtilitiesMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:EnergyEquipmentAndServicesMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:EnergyTransferLPMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:EnterpriseProductsPartnersL.PMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:ExxonMobilCorpMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:GasUtilitiesMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:IndependentPowerAndRenewableElectricityProducersMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:KinderMorganIncMember 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000238479Member 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:MorganStanleyInstitutionalLiquidityFundsTreasuryPortfolioInstitutionalClassMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:MPLXLPMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:MultiUtilitiesMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:NationalFuelGasCoMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:OilGasAndConsumableFuelsMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:ONEOKIncMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:PlainsGPHoldingsLPClassAMember 2026-04-30 0001517936 ftetfiv:C000238479Member ftetfiv:ShellPLCADRMember 2026-04-30 0001517936 ftetfiv:C000238479Member oef:UnclassifiedSectorMember 2026-04-30 0001517936 ftetfiv:C000241798Member 2026-04-30 0001517936 us-gaap:CommonStockMember ftetfiv:C000241798Member 2026-04-30 0001517936 ftetfiv:C000241798Member oef:CommunicationsSectorMember 2026-04-30 0001517936 ftetfiv:C000241798Member oef:ConsumerDiscretionarySectorMember 2026-04-30 0001517936 ftetfiv:C000241798Member oef:ConsumerStaplesSectorMember 2026-04-30 0001517936 ftetfiv:C000241798Member us-gaap:EnergySectorMember 2026-04-30 0001517936 ftetfiv:C000241798Member us-gaap:HealthcareSectorMember 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000241798Member 2026-04-30 0001517936 ftetfiv:C000241798Member ftetfiv:MoneyMarketFundsSectorMember 2026-04-30 0001517936 ftetfiv:NetOtherAssetsAndLiabilitiesMember ftetfiv:C000241798Member 2026-04-30 0001517936 ftetfiv:PurchasedOptionsMember ftetfiv:C000241798Member 2026-04-30 0001517936 us-gaap:USTreasuryBillSecuritiesMember ftetfiv:C000241798Member 2026-04-30 0001517936 ftetfiv:C000241798Member ftetfiv:USTreasuryBillSecuritiesSectorMember 2026-04-30 0001517936 ftetfiv:WrittenOptionsMember ftetfiv:C000241798Member 2026-04-30 0001517936 ftetfiv:C000243637Member 2026-04-30 0001517936 us-gaap:AssetBackedSecuritiesMember ftetfiv:C000243637Member 2026-04-30 0001517936 ftetfiv:GovernmentAndAgencyMember ftetfiv:C000243637Member 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000243637Member 2026-04-30 0001517936 ftetfiv:C000243637Member ftetfiv:MoneyMarketFundsQualityMember 2026-04-30 0001517936 us-gaap:MortgageBackedSecuritiesMember ftetfiv:C000243637Member 2026-04-30 0001517936 ftetfiv:NetOtherAssetsAndLiabilitiesMember ftetfiv:C000243637Member 2026-04-30 0001517936 ftetfiv:C000243637Member ftetfiv:NRMember 2026-04-30 0001517936 ftetfiv:PurchasedOptionsMember ftetfiv:C000243637Member 2026-04-30 0001517936 ftetfiv:ShortGovernmentAndAgencyMember ftetfiv:C000243637Member 2026-04-30 0001517936 ftetfiv:C000243637Member srt:StandardPoorsAAARatingMember 2026-04-30 0001517936 ftetfiv:C000243637Member srt:StandardPoorsAARatingMember 2026-04-30 0001517936 ftetfiv:C000243637Member srt:StandardPoorsARatingMember 2026-04-30 0001517936 ftetfiv:USGovernmentAgencyMortgageBackedSecuritiesMember ftetfiv:C000243637Member 2026-04-30 0001517936 ftetfiv:USGovernmentAgencyMortgageBackedSecuritiesSoldShortMember ftetfiv:C000243637Member 2026-04-30 0001517936 ftetfiv:USGovernmentBondsAndNotesMember ftetfiv:C000243637Member 2026-04-30 0001517936 ftetfiv:WrittenOptionsMember ftetfiv:C000243637Member 2026-04-30 0001517936 ftetfiv:C000243955Member 2026-04-30 0001517936 ftetfiv:C000243955Member ftetfiv:A2ShortTermMember 2026-04-30 0001517936 ftetfiv:C000243955Member ftetfiv:A3ShortTermMember 2026-04-30 0001517936 ftetfiv:C000243955Member ftetfiv:ConstellationSoftwareInc546021634Member 2026-04-30 0001517936 ftetfiv:C000243955Member ftetfiv:CooperatieveRabobankUA571012133Member 2026-04-30 0001517936 ftetfiv:C000243955Member ftetfiv:FairIsaacCorp600051533Member 2026-04-30 0001517936 ftetfiv:GovernmentAndAgencyMember ftetfiv:C000243955Member 2026-04-30 0001517936 ftetfiv:C000243955Member ftetfiv:IconInvestmentsSixDAC600050834Member 2026-04-30 0001517936 ftetfiv:C000243955Member ftetfiv:MorganStanley525042134Member 2026-04-30 0001517936 ftetfiv:C000243955Member ftetfiv:RaymondJamesFinancialInc490091135Member 2026-04-30 0001517936 ftetfiv:C000243955Member ftetfiv:RoperTechnologiesInc490101534Member 2026-04-30 0001517936 ftetfiv:C000243955Member ftetfiv:SodexoInc580081535Member 2026-04-30 0001517936 ftetfiv:C000243955Member ftetfiv:SolventumCorp560032334Member 2026-04-30 0001517936 ftetfiv:C000243955Member srt:StandardPoorsAARatingMember 2026-04-30 0001517936 ftetfiv:C000243955Member srt:StandardPoorsARatingMember 2026-04-30 0001517936 ftetfiv:C000243955Member srt:StandardPoorsBBBRatingMember 2026-04-30 0001517936 ftetfiv:C000243955Member srt:StandardPoorsBBRatingMember 2026-04-30 0001517936 ftetfiv:C000243955Member srt:StandardPoorsBRatingMember 2026-04-30 0001517936 ftetfiv:C000243955Member ftetfiv:VulcanMaterialsCo385050126Member 2026-04-30 0001517936 ftetfiv:C000243959Member 2026-04-30 0001517936 us-gaap:CommonStockMember ftetfiv:C000243959Member 2026-04-30 0001517936 ftetfiv:C000243959Member oef:CommunicationsSectorMember 2026-04-30 0001517936 ftetfiv:C000243959Member oef:ConsumerDiscretionarySectorMember 2026-04-30 0001517936 ftetfiv:C000243959Member oef:ConsumerStaplesSectorMember 2026-04-30 0001517936 ftetfiv:C000243959Member us-gaap:EnergySectorMember 2026-04-30 0001517936 ftetfiv:C000243959Member us-gaap:FinancialServicesSectorMember 2026-04-30 0001517936 ftetfiv:C000243959Member us-gaap:HealthcareSectorMember 2026-04-30 0001517936 ftetfiv:C000243959Member oef:IndustrialSectorMember 2026-04-30 0001517936 ftetfiv:C000243959Member oef:InformationTechnologySectorMember 2026-04-30 0001517936 ftetfiv:C000243959Member oef:MaterialsSectorMember 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000243959Member 2026-04-30 0001517936 ftetfiv:NetOtherAssetsAndLiabilitiesMember ftetfiv:C000243959Member 2026-04-30 0001517936 ftetfiv:C000243959Member oef:UnclassifiedSectorMember 2026-04-30 0001517936 ftetfiv:WrittenOptionsMember ftetfiv:C000243959Member 2026-04-30 0001517936 ftetfiv:C000243963Member 2026-04-30 0001517936 us-gaap:CommonStockMember ftetfiv:C000243963Member 2026-04-30 0001517936 ftetfiv:C000243963Member oef:CommunicationsSectorMember 2026-04-30 0001517936 ftetfiv:C000243963Member oef:IndustrialSectorMember 2026-04-30 0001517936 ftetfiv:C000243963Member oef:InformationTechnologySectorMember 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000243963Member 2026-04-30 0001517936 ftetfiv:C000243963Member ftetfiv:MoneyMarketFundsSectorMember 2026-04-30 0001517936 ftetfiv:NetOtherAssetsAndLiabilitiesMember ftetfiv:C000243963Member 2026-04-30 0001517936 ftetfiv:WrittenOptionsMember ftetfiv:C000243963Member 2026-04-30 0001517936 ftetfiv:C000248088Member 2026-04-30 0001517936 us-gaap:CommonStockMember ftetfiv:C000248088Member 2026-04-30 0001517936 ftetfiv:C000248088Member oef:CommunicationsSectorMember 2026-04-30 0001517936 ftetfiv:C000248088Member oef:ConsumerDiscretionarySectorMember 2026-04-30 0001517936 ftetfiv:C000248088Member us-gaap:FinancialServicesSectorMember 2026-04-30 0001517936 ftetfiv:C000248088Member us-gaap:HealthcareSectorMember 2026-04-30 0001517936 ftetfiv:C000248088Member oef:IndustrialSectorMember 2026-04-30 0001517936 ftetfiv:C000248088Member oef:InformationTechnologySectorMember 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000248088Member 2026-04-30 0001517936 ftetfiv:C000248088Member ftetfiv:MoneyMarketFundsSectorMember 2026-04-30 0001517936 ftetfiv:NetOtherAssetsAndLiabilitiesMember ftetfiv:C000248088Member 2026-04-30 0001517936 ftetfiv:WrittenOptionsMember ftetfiv:C000248088Member 2026-04-30 0001517936 ftetfiv:C000256813Member 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000256813Member 2026-04-30 0001517936 ftetfiv:NetOtherAssetsAndLiabilitiesMember ftetfiv:C000256813Member 2026-04-30 0001517936 ftetfiv:PurchasedOptionsMember ftetfiv:C000256813Member 2026-04-30 0001517936 us-gaap:USTreasuryBillSecuritiesMember ftetfiv:C000256813Member 2026-04-30 0001517936 ftetfiv:WrittenOptionsMember ftetfiv:C000256813Member 2026-04-30 0001517936 ftetfiv:C000256815Member 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000256815Member 2026-04-30 0001517936 ftetfiv:NetOtherAssetsAndLiabilitiesMember ftetfiv:C000256815Member 2026-04-30 0001517936 ftetfiv:PurchasedOptionsMember ftetfiv:C000256815Member 2026-04-30 0001517936 us-gaap:USTreasuryBillSecuritiesMember ftetfiv:C000256815Member 2026-04-30 0001517936 ftetfiv:WrittenOptionsMember ftetfiv:C000256815Member 2026-04-30 0001517936 ftetfiv:C000256817Member 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000256817Member 2026-04-30 0001517936 ftetfiv:NetOtherAssetsAndLiabilitiesMember ftetfiv:C000256817Member 2026-04-30 0001517936 ftetfiv:PurchasedOptionsMember ftetfiv:C000256817Member 2026-04-30 0001517936 us-gaap:USTreasuryBillSecuritiesMember ftetfiv:C000256817Member 2026-04-30 0001517936 ftetfiv:WrittenOptionsMember ftetfiv:C000256817Member 2026-04-30 0001517936 ftetfiv:C000257988Member 2026-04-30 0001517936 us-gaap:CommonStockMember ftetfiv:C000257988Member 2026-04-30 0001517936 ftetfiv:C000257988Member oef:CommunicationsSectorMember 2026-04-30 0001517936 ftetfiv:C000257988Member oef:ConsumerDiscretionarySectorMember 2026-04-30 0001517936 ftetfiv:C000257988Member oef:ConsumerStaplesSectorMember 2026-04-30 0001517936 ftetfiv:C000257988Member us-gaap:FinancialServicesSectorMember 2026-04-30 0001517936 ftetfiv:C000257988Member us-gaap:HealthcareSectorMember 2026-04-30 0001517936 ftetfiv:C000257988Member oef:IndustrialSectorMember 2026-04-30 0001517936 ftetfiv:C000257988Member oef:InformationTechnologySectorMember 2026-04-30 0001517936 ftetfiv:C000257988Member oef:MaterialsSectorMember 2026-04-30 0001517936 us-gaap:MoneyMarketFundsMember ftetfiv:C000257988Member 2026-04-30 0001517936 ftetfiv:C000257988Member ftetfiv:MoneyMarketFundsSectorMember 2026-04-30 0001517936 ftetfiv:NetOtherAssetsAndLiabilitiesMember ftetfiv:C000257988Member 2026-04-30 0001517936 ftetfiv:WrittenOptionsMember ftetfiv:C000257988Member 2026-04-30 iso4217:USD pure ftetfiv:Holding 0.004 0.027 0.003 0.002 0.055 0.019 0.030 0.118 0.039 0.014 0.266 0.006 0.091 0.008 0.299 0.059 0.003 0.369 0.319 0.090 0.551 0.044 0.134 0.134 0.064 0.020 0.089 0.162 0.028 0.020 -0.022 0.003 1.019 0.030 0.104 0.000 0.211 0.012 0.044 0.000 0.041 0.127 0.217 0.043 0.510 0.004 0.023 0.017 0.017 0.001 0.119 0.023 0.145 0.134 0.043 0.170 -0.031 0.371 0.163 0.109 0.034 0.027 0.155 0.037 0.841 0.087 0.039 0.002 0.001 0.122 0.163 0.001 0.018 0.014 0.064 0.326 0.030 0.045 0.010 0.104 0.000 0.330 0.347 0.046 0.108 0.067 0.060 0.011 0.090 0.007 0.260 0.221 0.101 0.084 0.262 0.056 0.006 0.067 0.046 0.407 0.025 0.096 0.061 0.012 0.049 0.030 0.226 0.092 0.121 0.212 0.041 0.101 0.397 0.275 0.115 0.512 0.026 0.014 0.016 0.017 0.234 0.087 0.010 0.038 0.002 -0.013 0.013 0.176 0.329 0.088 0.023 0.026 0.201 0.078 0.022 0.038 0.001 0.516 0.008 0.013 0.280 0.559 0.001 0.011 0.913 0.070 0.095 0.002 0.024 0.926 0.380 0.001 0001517936 false N-1A CboeBZX CboeBZX NYSEArca CboeBZX CboeBZX CboeBZX CboeBZX NASDAQ NYSEArca NYSEArca NYSEArca NYSEArca NASDAQ NASDAQ NASDAQ NASDAQ NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NASDAQ NASDAQ N-CSRS First Trust Exchange-Traded Fund IV 2026-04-30 First Trust North American Energy Infrastructure Fund First Trust North American Energy Infrastructure Fund EMLP This semi-annual shareholder report contains important information about the First Trust North American Energy Infrastructure Fund (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/EMLP</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/EMLP 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">First Trust North American Energy Infrastructure Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>51<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.94<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1) (2)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Excludes any Acquired Fund Fees and Expenses of the underlying investment companies in which the Fund invests.</div></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(2)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 51 0.0094 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>4,073,269,359</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">64</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">12<span>%</span></td> </tr> </table> 4073269359 64 0.12 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Energy Transfer, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">7.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Enterprise Products Partners, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">7.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">7.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">MPLX, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">4.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Plains GP Holdings, L.P., Class A</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Kinder Morgan, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.7<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">National Fuel Gas Co.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Southern (The) Co.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.7<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">PPL Corp.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Entergy Corp.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.4<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Industry Allocation</b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824096.jpg" style="width: 172.8pt;"/> </div> <div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Energy Transfer, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">7.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Enterprise Products Partners, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">7.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">7.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">MPLX, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">4.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Plains GP Holdings, L.P., Class A</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Kinder Morgan, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.7<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">National Fuel Gas Co.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Southern (The) Co.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.7<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">PPL Corp.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Entergy Corp.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.4<span>%</span></td> </tr> </table> 0.075 0.072 0.070 0.040 0.039 0.037 0.032 0.027 0.025 0.024 First Trust EIP Power Solutions ETF First Trust EIP Power Solutions ETF FPWR This semi-annual shareholder report contains important information about the First Trust EIP Power Solutions ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/FPWR</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/FPWR 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">First Trust EIP Power Solutions ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>51<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.95<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1) (2)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Excludes any Acquired Fund Fees and Expenses of the underlying investment companies in which the Fund invests.</div></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(2)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 51 0.0095 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>26,814,085</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">60</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">12<span>%</span></td> </tr> </table> 26814085 60 0.12 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">5.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Duke Energy Corp.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.4<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Southern (The) Co.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Energy Transfer, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">PPL Corp.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">National Fuel Gas Co.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.1<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Enterprise Products Partners, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">WEC Energy Group, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">American Electric Power Co., Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Cheniere Energy Partners, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.8<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Industry Allocation</b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824012.jpg" style="width: 172.8pt;"/> </div> <div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">5.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Duke Energy Corp.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.4<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Southern (The) Co.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Energy Transfer, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">PPL Corp.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">National Fuel Gas Co.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.1<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Enterprise Products Partners, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">WEC Energy Group, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">American Electric Power Co., Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Cheniere Energy Partners, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.8<span>%</span></td> </tr> </table> 0.056 0.034 0.032 0.032 0.032 0.031 0.030 0.029 0.029 0.028 FT Energy Income Partners Strategy ETF FT Energy Income Partners Strategy ETF EIPX This semi-annual shareholder report contains important information about the FT Energy Income Partners Strategy ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/EIPX</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/EIPX 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">FT Energy Income Partners Strategy ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>54</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.95<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 54 0.0095 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>531,813,599</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">85</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">22<span>%</span></td> </tr> </table> 531813599 85 0.22 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">9.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Enterprise Products Partners, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">7.1<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Energy Transfer, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">6.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">MPLX, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.8<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">National Fuel Gas Co.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Kinder Morgan, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Plains GP Holdings, L.P., Class A</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">ONEOK, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Shell PLC, ADR</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.9<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Industry Allocation</b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11823844.jpg" style="width: 172.8pt;"/> </div> <div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">9.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Enterprise Products Partners, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">7.1<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Energy Transfer, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">6.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">MPLX, L.P.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.8<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">National Fuel Gas Co.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Kinder Morgan, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Plains GP Holdings, L.P., Class A</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">ONEOK, Inc.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Shell PLC, ADR</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.9<span>%</span></td> </tr> </table> 0.090 0.071 0.065 0.038 0.029 0.026 0.026 0.025 0.019 0.019 First Trust Senior Loan Fund First Trust Senior Loan Fund FTSL This semi-annual shareholder report contains important information about the First Trust Senior Loan Fund (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/FTSL</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/FTSL 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';"> <b>This report describes changes to the Fund that occurred during or after the reporting period.</b> </div> <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">First Trust Senior Loan Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>37<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.75<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1) (2)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Excludes any Acquired Fund Fees and Expenses of the underlying investment companies in which the Fund invests.</div></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(2)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 37 0.0075 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>2,286,027,902</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">296</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">51<span>%</span></td> </tr> </table> 2286027902 296 0.51 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Industry Allocation</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Insurance</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">10.7<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Money Market Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">9.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Software</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">8.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Hotels, Restaurants &amp; Leisure</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">7.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Health Care Providers &amp; Services</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">5.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Media</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">4.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Commercial Services &amp; Supplies</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">4.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Trading Companies &amp; Distributors</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Machinery</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">All Other</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">43.5<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Credit Quality</b> <b> <sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup> </b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824180.jpg" style="width: 172.8pt;"/> </div><div style="margin-top:1.5em;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-family:'times new roman';font-weight:normal;color:rgb(0, 0, 0);font-size:7.5pt;padding-left:1.5em;text-indent:-1.5em;line-height:8.25pt;letter-spacing:0.01pt;">(1) The ratings are by S&amp;P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the credit worthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change. </div> 0.107 0.092 0.086 0.075 0.050 0.040 0.040 0.039 0.036 0.435 The ratings are by S&amp;P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the credit worthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change. The ratings are by S&amp;P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are privately rated. <div style="margin-top:20pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">HOW HAS THE FUND MATERIALLY CHANGED?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/FTSL</span> or upon request at 1-800-621-1675 or <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">info@ftportfolios.com</span>.</div><div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.69%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div><div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">Effective March 10, 2026, the Fund amended its definition of Senior Loans to include second lien senior floating rate bank loans.</div> <div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/FTSL</span> or upon request at 1-800-621-1675 or <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">info@ftportfolios.com</span>.</div> www.ftportfolios.com/fund-documents/etf/FTSL 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.69%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> 2026-02-01 First Trust Tactical High Yield ETF First Trust Tactical High Yield ETF HYLS This semi-annual shareholder report contains important information about the First Trust Tactical High Yield ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/HYLS</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/HYLS 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';"> <b>This report describes changes to the Fund that occurred during or after the reporting period.</b> </div> <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">First Trust Tactical High Yield ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>43</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.87<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 43 0.0087 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>1,638,521,326</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">308</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">40<span>%</span></td> </tr> </table> 1638521326 308 0.40 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Industry Allocation</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Insurance</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">12.7<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Media</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">7.1<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Software</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">6.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Hotels, Restaurants &amp; Leisure</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">6.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Trading Companies &amp; Distributors</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">5.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Health Care Providers &amp; Services</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">4.7<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Commercial Services &amp; Supplies</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">4.1<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Financial Services</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Building Products</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">All Other</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">45.2<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Credit Quality</b> <b> <sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup> </b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824138.jpg" style="width: 172.8pt;"/> </div><div style="margin-top:1.5em;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-family:'times new roman';font-weight:normal;color:rgb(0, 0, 0);font-size:7.5pt;padding-left:1.5em;text-indent:-1.5em;line-height:8.25pt;letter-spacing:0.01pt;">(1) The ratings are by S&amp;P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the credit worthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change. </div> 0.127 0.071 0.069 0.066 0.055 0.047 0.041 0.036 0.036 0.452 The ratings are by S&amp;P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the credit worthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change. The ratings are by S&amp;P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are privately rated. <div style="margin-top:20pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">HOW HAS THE FUND MATERIALLY CHANGED?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/HYLS</span> or upon request at 1-800-621-1675 or <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">info@ftportfolios.com</span>.</div><div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.69%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> <div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/HYLS</span> or upon request at 1-800-621-1675 or <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">info@ftportfolios.com</span>.</div> www.ftportfolios.com/fund-documents/etf/HYLS 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.69%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> 2026-02-01 First Trust Enhanced Short Maturity ETF First Trust Enhanced Short Maturity ETF FTSM This semi-annual shareholder report contains important information about the First Trust Enhanced Short Maturity ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/FTSM</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/FTSM 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';"> <b>This report describes changes to the Fund that occurred during or after the reporting period.</b> </div> <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">First Trust Enhanced Short Maturity ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>17</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.34<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 17 0.0034 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>6,399,095,042</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">660</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">36<span>%</span></td> </tr> </table> 6399095042 660 0.36 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">AutoNation, Inc., 4.11%, 05/01/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">U.S. Treasury Note, 3.75%, 04/30/27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Targa Resources Corp., 3.95%, 05/01/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Energy Transfer, L.P., 3.93%, 05/01/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Quanta Services, Inc., 4.15%, 05/01/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Huntington National Bank (The), 4.87%, 04/12/28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">T-Mobile USA, Inc., 3.75%, 04/15/27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Haleon US Capital LLC, 3.38%, 03/24/27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">PRA Health Sciences, Inc., 2.88%, 07/15/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Kinder Morgan, Inc., 1.75%, 11/15/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.5<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Credit Quality</b> <b> <sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup> </b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824222.jpg" style="width: 172.8pt;"/> </div><div style="margin-top:1.5em;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-family:'times new roman';font-weight:normal;color:rgb(0, 0, 0);font-size:7.5pt;padding-left:1.5em;text-indent:-1.5em;line-height:8.25pt;letter-spacing:0.01pt;">(1) The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, or a comparably rated NRSRO. For situations in which a security is rated by more than one RSRO and the ratings are not equivalent, the highest rating is used. Ratings are measured highest to lowest on a scale that generally ranges from AAA to D for long-term ratings and A-1 to C for short-term ratings. Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher or a short-term credit rating of A-3 or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Treasury, U.S. Agency and U.S. Agency mortgage-backed securities appear under “Government &amp; Agency.” Credit ratings are subject to change. For newly issued debt securities for which only an expected rating from a NRSRO is available, the Fund may treat such expected rating as if it were a final rating for purposes of determining the credit quality categories shown. </div> <div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">AutoNation, Inc., 4.11%, 05/01/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">U.S. Treasury Note, 3.75%, 04/30/27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Targa Resources Corp., 3.95%, 05/01/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Energy Transfer, L.P., 3.93%, 05/01/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Quanta Services, Inc., 4.15%, 05/01/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Huntington National Bank (The), 4.87%, 04/12/28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">T-Mobile USA, Inc., 3.75%, 04/15/27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Haleon US Capital LLC, 3.38%, 03/24/27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">PRA Health Sciences, Inc., 2.88%, 07/15/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Kinder Morgan, Inc., 1.75%, 11/15/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.5<span>%</span></td> </tr> </table> 0.010 0.010 0.009 0.006 0.006 0.006 0.005 0.005 0.005 0.005 The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, or a comparably rated NRSRO. For situations in which a security is rated by more than one RSRO and the ratings are not equivalent, the highest rating is used. Ratings are measured highest to lowest on a scale that generally ranges from AAA to D for long-term ratings and A-1 to C for short-term ratings. Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher or a short-term credit rating of A-3 or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Treasury, U.S. Agency and U.S. Agency mortgage-backed securities appear under “Government &amp; Agency.” Credit ratings are subject to change. For newly issued debt securities for which only an expected rating from a NRSRO is available, the Fund may treat such expected rating as if it were a final rating for purposes of determining the credit quality categories shown. The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, or a comparably rated NRSRO. <div style="margin-top:20pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">HOW HAS THE FUND MATERIALLY CHANGED?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/FTSM</span> or upon request at 1-800-621-1675 or <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">info@ftportfolios.com</span>.</div><div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.29%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> <div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/FTSM</span> or upon request at 1-800-621-1675 or <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">info@ftportfolios.com</span>.</div> www.ftportfolios.com/fund-documents/etf/FTSM 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.29%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> 2026-02-01 First Trust High Income Strategic Focus ETF First Trust High Income Strategic Focus ETF HISF This semi-annual shareholder report contains important information about the First Trust High Income Strategic Focus ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/HISF</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/HISF 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';"> <b>This report describes changes to the Fund that occurred during or after the reporting period.</b> </div> <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">First Trust High Income Strategic Focus ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>6<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.12<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1) (2)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Excludes any Acquired Fund Fees and Expenses of the underlying investment companies in which the Fund invests.</div></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(2)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 6 0.0012 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>91,138,271</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">12</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">21<span>%</span></td> </tr> </table> 91138271 12 0.21 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The table below shows the investment makeup of the Fund, representing the percentage of net assets of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Fund Allocation</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Exchange-Traded Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">100.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Money Market Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Net Other Assets and Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">(0.0<span>%</span><span>)</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">100.0<span>%</span></td> </tr> </table><div style="margin-top:1.5em;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-family:'times new roman';font-weight:normal;color:rgb(0, 0, 0);font-size:7.5pt;padding-left:1.5em;text-indent:-1.5em;line-height:8.25pt;letter-spacing:0.01pt;">Any amount shown as 0.0% represents less than 0.1%.</div> 1.000 0.000 -0.000 1.000 <div style="margin-top:20pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">HOW HAS THE FUND MATERIALLY CHANGED?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/HISF</span> or upon request at 1-800-621-1675 or <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">info@ftportfolios.com</span>.</div><div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.10%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> <div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/HISF</span> or upon request at 1-800-621-1675 or <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">info@ftportfolios.com</span>.</div> www.ftportfolios.com/fund-documents/etf/HISF 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.10%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> 2026-02-01 First Trust Low Duration Opportunities ETF First Trust Low Duration Opportunities ETF LMBS This semi-annual shareholder report contains important information about the First Trust Low Duration Opportunities ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">www.ftportfolios.com/fund-documents/etf/LMBS</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line: underline; color: rgb(0, 60, 113); font-size: 9pt; font-weight: normal; font-family: 'times new roman';">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/LMBS 1-800-621-1675 info@ftportfolios.com <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 0px 0px 3pt 0px;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div> <div style="font-family: 'times new roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px;">(Based on a hypothetical $10,000 investment)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline; padding: 6pt 3pt 3pt 3pt;">First Trust Low Duration Opportunities ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>32<sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.64<span>%</span><sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1) (2)</sup></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top; padding: 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 7.5pt; margin: 0px;">​<sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-style: normal; font-size: 7.5pt; vertical-align: baseline; padding: 2.25pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 7.5pt; margin: 0px;">Excludes any Acquired Fund Fees and Expenses of the underlying investment companies in which the Fund invests.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top; padding: 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 7.5pt; margin: 0px;">​<sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(2)</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-style: normal; font-size: 7.5pt; vertical-align: baseline; padding: 2.25pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 7.5pt; margin: 0px;">Annualized.</div> </td> </tr> </table> 32 0.0064 <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 10pt 0px 3pt 0px;">KEY FUND STATISTICS (As of April 30, 2026)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>6,162,856,749</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1,227</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-width: initial; border-bottom-color: initial; border-bottom-style: none;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">105<span>%</span></td> </tr> </table> 6162856749 1227 1.05 <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 0px 0px 3pt 0px;">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div> <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 10pt 0px;">The tables below show the investment makeup of the Fund, representing the percentage of net assets and percentage of total investments, respectively, of the Fund.</div> <div style="font-family: 'times new roman'; font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; text-align: center; padding-bottom: 5pt; font-weight: bold; color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; margin: 5pt 0px 0px 0px;"><b>Fund Allocation</b></div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government Agency Mortgage-Backed Securities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">75.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government Bonds and Notes</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.6<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Mortgage-Backed Securities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Asset-Backed Securities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.5<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government Agency Securities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Exchange-Traded Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Bills</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.9<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Money Market Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government Agency Mortgage-Backed Securities Sold Short</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">(1.3<span>%</span><span>)</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Written Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">(0.3<span>%</span><span>)</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Net Other Assets and Liabilities<sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">(5.9<span>%</span><span>)</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">100.0<span>%</span></td> </tr> </table> <div style="font-family: 'times new roman'; font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; text-align: center; padding-bottom: 5pt; font-weight: bold; color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; margin: 3pt 0px 5pt 0px;"><b>Credit Quality</b> <b> <sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(2)</sup> </b></div> <div style="font-family: 'times new roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824264.jpg" style="width: 172.8pt;"/> </div> <div style="font-family: 'times new roman'; font-weight: normal; color: rgb(0, 0, 0); font-size: 7.5pt; padding-left: 1.5em; text-indent: -1.5em; line-height: 8.25pt; letter-spacing: 0.01pt; margin: 1.5em 0px 0px 0px;">Any amount shown as 0.0% represents less than 0.1%.</div> <div style="font-family: 'times new roman'; font-weight: normal; color: rgb(0, 0, 0); font-size: 7.5pt; padding-left: 1.5em; text-indent: -1.5em; line-height: 8.25pt; letter-spacing: 0.01pt; margin: 0.5em 0px 0px 0px;"><sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup> Includes variation margin on futures contracts.</div> <div style="font-family: 'times new roman'; font-weight: normal; color: rgb(0, 0, 0); font-size: 7.5pt; padding-left: 1.5em; text-indent: -1.5em; line-height: 8.25pt; letter-spacing: 0.01pt; margin: 0.5em 0px 7.5pt 0px;"><sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(2)</sup> The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Agency, U.S. Agency mortgage-backed, and U.S. Treasury securities appear under “Government &amp; Agency.” Credit ratings are subject to change.</div> 0.752 0.106 0.081 0.015 0.001 0.001 0.109 0.010 -0.013 -0.003 -0.059 1.000 The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Agency, U.S. Agency mortgage-backed, and U.S. Treasury securities appear under “Government &amp; Agency.” Credit ratings are subject to change. The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. First Trust SSI Strategic Convertible Securities ETF First Trust SSI Strategic Convertible Securities ETF FCVT This semi-annual shareholder report contains important information about the First Trust SSI Strategic Convertible Securities ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/FCVT</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/FCVT 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">First Trust SSI Strategic Convertible Securities ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>50</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.95<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 50 0.0095 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>116,537,560</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">142</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">44<span>%</span></td> </tr> </table> 116537560 142 0.44 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Western Digital Corp., 3.00%, 11/15/28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">4.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Lumentum Holdings, Inc., 0.38%, 03/15/32</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Dreyfus Government Cash Management Fund, Institutional Shares, 3.53%</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Boeing (The) Co., 6.00%, 10/15/27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.4<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Morgan Stanley Finance LLC, 0.13%, 02/07/28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">ON Semiconductor Corp., 0.50%, 03/01/29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">NextEra Energy Capital Holdings, Inc., 3.00%, 03/01/27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.8<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Live Nation Entertainment, Inc., 2.88%, 01/15/30</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.8<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Morgan Stanley Finance LLC, 0.13%, 04/26/30</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Bloom Energy Corp., 0.00%, 11/15/30</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.6<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Sector Allocation</b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824348.jpg" style="width: 172.8pt;"/> </div> <div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Western Digital Corp., 3.00%, 11/15/28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">4.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Lumentum Holdings, Inc., 0.38%, 03/15/32</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">3.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Dreyfus Government Cash Management Fund, Institutional Shares, 3.53%</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Boeing (The) Co., 6.00%, 10/15/27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.4<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Morgan Stanley Finance LLC, 0.13%, 02/07/28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">2.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">ON Semiconductor Corp., 0.50%, 03/01/29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">NextEra Energy Capital Holdings, Inc., 3.00%, 03/01/27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.8<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Live Nation Entertainment, Inc., 2.88%, 01/15/30</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.8<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Morgan Stanley Finance LLC, 0.13%, 04/26/30</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Bloom Energy Corp., 0.00%, 11/15/30</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.6<span>%</span></td> </tr> </table> 0.045 0.039 0.026 0.024 0.020 0.019 0.018 0.018 0.016 0.016 First Trust Long DurationOpportunities ETF First Trust Long DurationOpportunities ETF LGOV This semi-annual shareholder report contains important information about the First Trust Long Duration Opportunities ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">www.ftportfolios.com/fund-documents/etf/LGOV</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line: underline; color: rgb(0, 60, 113); font-size: 9pt; font-weight: normal; font-family: 'times new roman';">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/LGOV 1-800-621-1675 info@ftportfolios.com <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 10pt 0px;"><b>This report describes changes to the Fund that occurred during or after the reporting period.</b></div> <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 0px 0px 3pt 0px;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div> <div style="font-family: 'times new roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px;">(Based on a hypothetical $10,000 investment)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline; padding: 6pt 3pt 3pt 3pt;">First Trust Long Duration Opportunities ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>27<sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.54<span>%</span><sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1) (2)</sup></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top; padding: 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 7.5pt; margin: 0px;">​<sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-style: normal; font-size: 7.5pt; vertical-align: baseline; padding: 2.25pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 7.5pt; margin: 0px;">Excludes any Acquired Fund Fees and Expenses of the underlying investment companies in which the Fund invests.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top; padding: 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 7.5pt; margin: 0px;">​<sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(2)</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-style: normal; font-size: 7.5pt; vertical-align: baseline; padding: 2.25pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 7.5pt; margin: 0px;">Annualized.</div> </td> </tr> </table> 27 0.0054 <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 10pt 0px 3pt 0px;">KEY FUND STATISTICS (As of April 30, 2026)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>664,498,282</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">176</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-width: initial; border-bottom-color: initial; border-bottom-style: none;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">92<span>%</span></td> </tr> </table> 664498282 176 0.92 <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 0px 0px 3pt 0px;">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div> <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 10pt 0px;">The tables below show the investment makeup of the Fund, representing the percentage of net assets and percentage of total investments, respectively, of the Fund.</div> <div style="font-family: 'times new roman'; font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; text-align: center; padding-bottom: 5pt; font-weight: bold; color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; margin: 5pt 0px 0px 0px;"><b>Fund Allocation</b></div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government Agency Mortgage-Backed Securities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">76.3<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government Bonds and Notes</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">17.9<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government Agency Securities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">2.8<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Exchange-Traded Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.3<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Treasury Bills</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Purchased Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government Agency Mortgage-Backed Securities Sold Short</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">(2.1<span>%</span><span>)</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Written Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">(0.4<span>%</span><span>)</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Net Other Assets and Liabilities<sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">4.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">100.0<span>%</span></td> </tr> </table> <div style="font-family: 'times new roman'; font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; text-align: center; padding-bottom: 5pt; font-weight: bold; color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; margin: 3pt 0px 5pt 0px;"><b>Credit Quality</b> <b> <sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(2)</sup> </b></div> <div style="font-family: 'times new roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11823886.jpg" style="width: 172.8pt;"/> </div> <div style="font-family: 'times new roman'; font-weight: normal; color: rgb(0, 0, 0); font-size: 7.5pt; padding-left: 1.5em; text-indent: -1.5em; line-height: 8.25pt; letter-spacing: 0.01pt; margin: 1.5em 0px 0px 0px;">Any amount shown as 0.0% represents less than 0.1%.</div> <div style="font-family: 'times new roman'; font-weight: normal; color: rgb(0, 0, 0); font-size: 7.5pt; padding-left: 1.5em; text-indent: -1.5em; line-height: 8.25pt; letter-spacing: 0.01pt; margin: 0.5em 0px 0px 0px;"><sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup> Includes variation margin on futures contracts.</div> <div style="font-family: 'times new roman'; font-weight: normal; color: rgb(0, 0, 0); font-size: 7.5pt; padding-left: 1.5em; text-indent: -1.5em; line-height: 8.25pt; letter-spacing: 0.01pt; margin: 0.5em 0px 7.5pt 0px;"><sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(2)</sup> The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO, of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Agency, U.S. Agency mortgage-backed, and U.S. Treasury securities appear under “Government &amp; Agency.” Credit ratings are subject to change.</div> 0.763 0.179 0.028 0.003 0.012 0.000 -0.021 -0.004 0.040 1.000 The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO, of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Agency, U.S. Agency mortgage-backed, and U.S. Treasury securities appear under “Government &amp; Agency.” Credit ratings are subject to change. The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 20pt 0px 3pt 0px;">HOW HAS THE FUND MATERIALLY CHANGED?</div> <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 7.5pt 0px;">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">www.ftportfolios.com/fund-documents/etf/LGOV</span> or upon request at 1-800-621-1675 or <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">info@ftportfolios.com</span>.</div> <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 7.5pt 0px;">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.49%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 7.5pt 0px;">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">www.ftportfolios.com/fund-documents/etf/LGOV</span> or upon request at 1-800-621-1675 or <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">info@ftportfolios.com</span>.</div> www.ftportfolios.com/fund-documents/etf/LGOV 1-800-621-1675 info@ftportfolios.com <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 7.5pt 0px;">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.49%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> 2026-02-01 First Trust Limited Duration Investment Grade Corporate ETF First Trust Limited Duration Investment Grade Corporate ETF FSIG This semi-annual shareholder report contains important information about the First Trust Limited Duration Investment Grade Corporate ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/FSIG</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/FSIG 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';"> <b>This report describes changes to the Fund that occurred during or after the reporting period.</b> </div> <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">First Trust Limited Duration Investment Grade Corporate ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>24</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.48<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 24 0.0048 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>1,507,235,118</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">320</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">30<span>%</span></td> </tr> </table> 1507235118 320 0.30 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Crowdstrike Holdings, Inc., 3.00%, 02/15/29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.4<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">MSCI, Inc., 4.00%, 11/15/29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.3<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Fair Isaac Corp., 6.00%, 05/15/33</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Energy Transfer, L.P., 3.93%, 05/01/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Vulcan Materials Co., 3.85%, 05/01/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">United Rentals North America, Inc., 6.00%, 12/15/29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Smurfit Kappa Treasury ULC, 5.20%, 01/15/30</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Constellation Software, Inc., 5.16%, 02/16/29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Berry Global, Inc., 5.50%, 04/15/28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.8<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Quanta Services, Inc., 4.50%, 01/15/31</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.8<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Credit Quality</b> <b> <sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup> </b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824306.jpg" style="width: 172.8pt;"/> </div><div style="margin-top:1.5em;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-family:'times new roman';font-weight:normal;color:rgb(0, 0, 0);font-size:7.5pt;padding-left:1.5em;text-indent:-1.5em;line-height:8.25pt;letter-spacing:0.01pt;"> <sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup> The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. Ratings are measured highest to lowest on a scale that generally ranges from AAA to D for long-term ratings and A-1+ to C for short-term ratings. Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher or a short-term credit rating of A-3 or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Treasury, U.S. Agency and U.S. Agency mortgage-backed securities appear under “Government &amp; Agency”. Credit ratings are subject to change. </div> <div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Top Ten Holdings</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Crowdstrike Holdings, Inc., 3.00%, 02/15/29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.4<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">MSCI, Inc., 4.00%, 11/15/29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.3<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Fair Isaac Corp., 6.00%, 05/15/33</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Energy Transfer, L.P., 3.93%, 05/01/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Vulcan Materials Co., 3.85%, 05/01/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">United Rentals North America, Inc., 6.00%, 12/15/29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Smurfit Kappa Treasury ULC, 5.20%, 01/15/30</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Constellation Software, Inc., 5.16%, 02/16/29</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Berry Global, Inc., 5.50%, 04/15/28</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.8<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Quanta Services, Inc., 4.50%, 01/15/31</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.8<span>%</span></td> </tr> </table> 0.014 0.013 0.010 0.010 0.010 0.010 0.009 0.009 0.008 0.008 The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. Ratings are measured highest to lowest on a scale that generally ranges from AAA to D for long-term ratings and A-1+ to C for short-term ratings. Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher or a short-term credit rating of A-3 or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Treasury, U.S. Agency and U.S. Agency mortgage-backed securities appear under “Government &amp; Agency”. Credit ratings are subject to change. The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, or a comparably rated NRSRO. <div style="margin-top:20pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">HOW HAS THE FUND MATERIALLY CHANGED?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/FSIG</span> or upon request at 1-800-621-1675 or <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">info@ftportfolios.com</span>.</div><div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.44%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> <div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/FSIG</span> or upon request at 1-800-621-1675 or <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">info@ftportfolios.com</span>.</div> www.ftportfolios.com/fund-documents/etf/FSIG 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.44%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> 2026-02-01 FT Vest S&P 500® Dividend Aristocrats Target Income ETF® FT Vest S&P 500® Dividend Aristocrats Target Income ETF® KNG This semi-annual shareholder report contains important information about the FT Vest S&amp;P 500<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">®</sup> Dividend Aristocrats Target Income ETF<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">®</sup> (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/KNG</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/KNG 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">FT Vest S&amp;P 500<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">®</sup> Dividend Aristocrats Target Income <span style="white-space:nowrap">ETF<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">®</sup></span></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>38</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.74<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 38 0.0074 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>3,369,358,909</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">139</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">79<span>%</span></td> </tr> </table> 3369358909 139 0.79 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of net assets and percentage of total investments, respectively, of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Fund Allocation</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Common Stocks</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">100.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Money Market Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.3<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Written Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">(0.5<span>%</span><span>)</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Net Other Assets and Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">100.0<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Sector Allocation</b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824054.jpg" style="width: 172.8pt;"/> </div><div style="margin-top:1.5em;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-family:'times new roman';font-weight:normal;color:rgb(0, 0, 0);font-size:7.5pt;padding-left:1.5em;text-indent:-1.5em;line-height:8.25pt;letter-spacing:0.01pt;">Any amount shown as 0.0% represents less than 0.1%.</div> 1.002 0.003 -0.005 0.000 1.000 FT Vest SMID Rising Dividend Achievers Target Income ETF FT Vest SMID Rising Dividend Achievers Target Income ETF SDVD This semi-annual shareholder report contains important information about the FT Vest SMID Rising Dividend Achievers Target Income ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/SDVD</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/SDVD 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">FT Vest SMID Rising Dividend Achievers Target Income ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>45</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.85<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 45 0.0085 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>834,622,758</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">169</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">21<span>%</span></td> </tr> </table> 834622758 169 0.21 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of net assets and percentage of total investments, respectively, of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Fund Allocation</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Common Stocks</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">99.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Money Market Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Written Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">(0.1<span>%</span><span>)</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Net Other Assets and Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">(0.0<span>%</span><span>)</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">100.0<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Sector Allocation</b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824516.jpg" style="width: 172.8pt;"/> </div><div style="margin-top:1.5em;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-family:'times new roman';font-weight:normal;color:rgb(0, 0, 0);font-size:7.5pt;padding-left:1.5em;text-indent:-1.5em;line-height:8.25pt;letter-spacing:0.01pt;">Any amount shown as 0.0% represents less than 0.1%.</div> 0.999 0.002 -0.001 -0.000 1.000 FT Vest Technology Dividend Target Income ETF FT Vest Technology Dividend Target Income ETF TDVI This semi-annual shareholder report contains important information about the FT Vest Technology Dividend Target Income ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/TDVI</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/TDVI 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">FT Vest Technology Dividend Target Income ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>39</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.75<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 39 0.0075 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>417,894,082</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">96</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">16<span>%</span></td> </tr> </table> 417894082 96 0.16 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of net assets and percentage of total investments, respectively, of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Fund Allocation</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Common Stocks</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">99.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Money Market Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Written Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">(0.1<span>%</span><span>)</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Net Other Assets and Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">100.0<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Sector Allocation</b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824558.jpg" style="width: 172.8pt;"/> </div><div style="margin-top:1.5em;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-family:'times new roman';font-weight:normal;color:rgb(0, 0, 0);font-size:7.5pt;padding-left:1.5em;text-indent:-1.5em;line-height:8.25pt;letter-spacing:0.01pt;">Any amount shown as 0.0% represents less than 0.1%.</div> 0.999 0.002 -0.001 0.000 1.000 FT Vest Dow Jones Internet & Target Income ETF FT Vest Dow Jones Internet & Target Income ETF FDND This semi-annual shareholder report contains important information about the FT Vest Dow Jones Internet &amp; Target Income ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/FDND</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/FDND 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">FT Vest Dow Jones Internet &amp; Target Income ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>36</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.75<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 36 0.0075 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>9,595,375</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">43</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">11<span>%</span></td> </tr> </table> 9595375 43 0.11 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of net assets and percentage of total investments, respectively, of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Fund Allocation</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Common Stocks</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">99.3<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Money Market Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.1<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Written Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">(0.1<span>%</span><span>)</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Net Other Assets and Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.7<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">100.0<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Sector Allocation</b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824600.jpg" style="width: 172.8pt;"/> </div><div style="margin-top:1.5em;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-family:'times new roman';font-weight:normal;color:rgb(0, 0, 0);font-size:7.5pt;padding-left:1.5em;text-indent:-1.5em;line-height:8.25pt;letter-spacing:0.01pt;">Any amount shown as 0.0% represents less than 0.1%.</div> 0.993 0.001 -0.001 0.007 1.000 FT Vest Rising Dividend Achievers Target Income ETF FT Vest Rising Dividend Achievers Target Income ETF RDVI This semi-annual shareholder report contains important information about the FT Vest Rising Dividend Achievers Target Income ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/RDVI</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/RDVI 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">FT Vest Rising Dividend Achievers Target Income ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>39</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.75<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 39 0.0075 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>3,073,502,895</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">75</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">19<span>%</span></td> </tr> </table> 3073502895 75 0.19 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of net assets and percentage of total investments, respectively, of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Fund Allocation</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Common Stocks</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">100.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Money Market Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.1<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Written Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">(0.1<span>%</span><span>)</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Net Other Assets and Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">100.0<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Sector Allocation</b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11823970.jpg" style="width: 172.8pt;"/> </div><div style="margin-top:1.5em;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-family:'times new roman';font-weight:normal;color:rgb(0, 0, 0);font-size:7.5pt;padding-left:1.5em;text-indent:-1.5em;line-height:8.25pt;letter-spacing:0.01pt;">Any amount shown as 0.0% represents less than 0.1%.</div> 1.000 0.001 -0.001 0.000 1.000 FT Vest DJIA® Dogs 10 Target Income ETF FT Vest DJIA® Dogs 10 Target Income ETF DOGG This semi-annual shareholder report contains important information about the FT Vest DJIA<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">®</sup> Dogs 10 Target Income ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/DOGG</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/DOGG 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">FT Vest DJIA<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">®</sup> Dogs 10 Target Income ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>39</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.75<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 39 0.0075 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>65,608,406</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">42</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">441<span>%</span></td> </tr> </table> 65608406 42 4.41 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of net assets and percentage of total investments, respectively, of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Fund Allocation</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Common Stocks</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">50.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">U.S. Treasury Bills</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">61.6<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Money Market Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.1<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Purchased Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.5<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Written Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">(25.0<span>%</span><span>)</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Net Other Assets and Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">12.8<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">100.0<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Sector Allocation</b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824390.jpg" style="width: 172.8pt;"/> </div> 0.500 0.616 0.001 0.005 -0.250 0.128 1.000 FT Vest Growth Strength & Target Income ETF FT Vest Growth Strength & Target Income ETF FGSI This semi-annual shareholder report contains important information about the FT Vest Growth Strength &amp; Target Income ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/FGSI</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/FGSI 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">FT Vest Growth Strength &amp; Target Income ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>42</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.85<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 42 0.0085 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>2,991,766</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">52</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">54<span>%</span></td> </tr> </table> 2991766 52 0.54 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The tables below show the investment makeup of the Fund, representing the percentage of net assets and percentage of total investments, respectively, of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Fund Allocation</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Common Stocks</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">99.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Money Market Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.1<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Written Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">(0.1<span>%</span><span>)</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Net Other Assets and Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.1<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">100.0<span>%</span></td> </tr> </table><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:3pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Sector Allocation</b> </div><div style="font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824768.jpg" style="width: 172.8pt;"/> </div> 0.999 0.001 -0.001 0.001 1.000 First Trust Intermediate DurationInvestment Grade Corporate ETF First Trust Intermediate DurationInvestment Grade Corporate ETF FIIG This semi-annual shareholder report contains important information about the First Trust Intermediate Duration Investment Grade Corporate ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">www.ftportfolios.com/fund-documents/etf/FIIG</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line: underline; color: rgb(0, 60, 113); font-size: 9pt; font-weight: normal; font-family: 'times new roman';">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/FIIG 1-800-621-1675 info@ftportfolios.com <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 10pt 0px;"><b>This report describes changes to the Fund that occurred during or after the reporting period.</b></div> <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 0px 0px 3pt 0px;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div> <div style="font-family: 'times new roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px;">(Based on a hypothetical $10,000 investment)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline; padding: 6pt 3pt 3pt 3pt;">First Trust Intermediate Duration Investment Grade Corporate ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>27</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.54<span>%</span><sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top; padding: 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 7.5pt; margin: 0px;">​<sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-style: normal; font-size: 7.5pt; vertical-align: baseline; padding: 2.25pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 7.5pt; margin: 0px;">Annualized.</div> </td> </tr> </table> 27 0.0054 <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 10pt 0px 3pt 0px;">KEY FUND STATISTICS (As of April 30, 2026)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>670,876,034</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">251</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-width: initial; border-bottom-color: initial; border-bottom-style: none;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">23<span>%</span></td> </tr> </table> 670876034 251 0.23 <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 0px 0px 3pt 0px;">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div> <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 10pt 0px;">The tables below show the investment makeup of the Fund, representing the percentage of total investments of the Fund.</div> <div style="font-family: 'times new roman'; font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; text-align: center; padding-bottom: 5pt; font-weight: bold; color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; margin: 5pt 0px 0px 0px;"><b>Top Ten Holdings</b></div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Icon Investments Six DAC, 6.00%, 05/08/34</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Cooperatieve Rabobank U.A., 5.71%, 01/21/33</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Fair Isaac Corp., 6.00%, 05/15/33</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Solventum Corp., 5.60%, 03/23/34</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Constellation Software, Inc., 5.46%, 02/16/34</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Sodexo, Inc., 5.80%, 08/15/35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Vulcan Materials Co., 3.85%, 05/01/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Morgan Stanley, 5.25%, 04/21/34</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Raymond James Financial, Inc., 4.90%, 09/11/35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.9<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Roper Technologies, Inc., 4.90%, 10/15/34</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.9<span>%</span></td> </tr> </table> <div style="font-family: 'times new roman'; font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; text-align: center; padding-bottom: 5pt; font-weight: bold; color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; margin: 3pt 0px 5pt 0px;"><b>Credit Quality</b> <b> <sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup> </b></div> <div style="font-family: 'times new roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824432.jpg" style="width: 172.8pt;"/> </div> <div style="font-family: 'times new roman'; font-weight: normal; color: rgb(0, 0, 0); font-size: 7.5pt; padding-left: 1.5em; text-indent: -1.5em; line-height: 8.25pt; letter-spacing: 0.01pt; margin: 1.5em 0px 7.5pt 0px;"><sup style="font-size: smaller; line-height: 0; vertical-align: 3.2pt;">(1)</sup> The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. Ratings are measured highest to lowest on a scale that generally ranges from AAA to D for long-term ratings and A-1+ to C for short-term ratings. Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher or a short-term credit rating of A-3 or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Treasury, U.S. Agency and U.S. Agency mortgage-backed securities appear under “Government &amp; Agency”. Credit ratings are subject to change.</div> <div style="font-family: 'times new roman'; font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; text-align: center; padding-bottom: 5pt; font-weight: bold; color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; margin: 5pt 0px 0px 0px;"><b>Top Ten Holdings</b></div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Icon Investments Six DAC, 6.00%, 05/08/34</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.4<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Cooperatieve Rabobank U.A., 5.71%, 01/21/33</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.3<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Fair Isaac Corp., 6.00%, 05/15/33</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Solventum Corp., 5.60%, 03/23/34</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Constellation Software, Inc., 5.46%, 02/16/34</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Sodexo, Inc., 5.80%, 08/15/35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Vulcan Materials Co., 3.85%, 05/01/26</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Morgan Stanley, 5.25%, 04/21/34</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Raymond James Financial, Inc., 4.90%, 09/11/35</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.9<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Roper Technologies, Inc., 4.90%, 10/15/34</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.9<span>%</span></td> </tr> </table> 0.014 0.013 0.011 0.010 0.010 0.010 0.010 0.010 0.009 0.009 The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. Ratings are measured highest to lowest on a scale that generally ranges from AAA to D for long-term ratings and A-1+ to C for short-term ratings. Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher or a short-term credit rating of A-3 or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Treasury, U.S. Agency and U.S. Agency mortgage-backed securities appear under “Government &amp; Agency”. Credit ratings are subject to change. The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, or a comparably rated NRSRO. <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 20pt 0px 3pt 0px;">HOW HAS THE FUND MATERIALLY CHANGED?</div> <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 7.5pt 0px;">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">www.ftportfolios.com/fund-documents/etf/FIIG</span> or upon request at 1-800-621-1675 or <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">info@ftportfolios.com</span>.</div> <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 7.5pt 0px;">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.49%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 7.5pt 0px;">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">www.ftportfolios.com/fund-documents/etf/FIIG</span> or upon request at 1-800-621-1675 or <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">info@ftportfolios.com</span>.</div> www.ftportfolios.com/fund-documents/etf/FIIG 1-800-621-1675 info@ftportfolios.com <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 7.5pt 0px;">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.49%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> 2026-02-01 First Trust IntermediateGovernment Opportunities ETF First Trust IntermediateGovernment Opportunities ETF MGOV This semi-annual shareholder report contains important information about the First Trust Intermediate Government Opportunities ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">www.ftportfolios.com/fund-documents/etf/MGOV</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line: underline; color: rgb(0, 60, 113); font-size: 9pt; font-weight: normal; font-family: 'times new roman';">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/MGOV 1-800-621-1675 info@ftportfolios.com <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 10pt 0px;"><b>This report describes changes to the Fund that occurred during or after the reporting period.</b></div> <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 0px 0px 3pt 0px;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div> <div style="font-family: 'times new roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin: 0px;">(Based on a hypothetical $10,000 investment)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline; padding: 6pt 3pt 3pt 3pt;">First Trust Intermediate Government Opportunities ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>27<sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.54<span>%</span><sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1) (2)</sup></td> </tr> </table> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top; padding: 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 7.5pt; margin: 0px;">​<sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-style: normal; font-size: 7.5pt; vertical-align: baseline; padding: 2.25pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 7.5pt; margin: 0px;">Excludes any Acquired Fund Fees and Expenses of the underlying investment companies in which the Fund invests.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top; padding: 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 7.5pt; margin: 0px;">​<sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(2)</sup></div> </td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-style: normal; font-size: 7.5pt; vertical-align: baseline; padding: 2.25pt 0 0 0;"> <div style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 7.5pt; margin: 0px;">Annualized.</div> </td> </tr> </table> 27 0.0054 <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 10pt 0px 3pt 0px;">KEY FUND STATISTICS (As of April 30, 2026)</div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>102,266,569</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">205</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-width: initial; border-bottom-color: initial; border-bottom-style: none;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">71<span>%</span></td> </tr> </table> 102266569 205 0.71 <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 0px 0px 3pt 0px;">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div> <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 10pt 0px;">The tables below show the investment makeup of the Fund, representing the percentage of net assets and percentage of total investments, respectively, of the Fund.</div> <div style="font-family: 'times new roman'; font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; text-align: center; padding-bottom: 5pt; font-weight: bold; color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; margin: 5pt 0px 0px 0px;"><b>Fund Allocation</b></div> <table style="width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government Agency Mortgage-Backed Securities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">82.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government Bonds and Notes</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.8<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Mortgage-Backed Securities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.6<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Asset-Backed Securities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.2<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Money Market Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.1<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Purchased Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.0<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">U.S. Government Agency Mortgage-Backed Securities Sold Short</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">(3.2<span>%</span><span>)</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Written Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">(0.3<span>%</span><span>)</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Net Other Assets and Liabilities<sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">(3.4<span>%</span><span>)</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding: 6pt 3pt 3pt 3pt;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">100.0<span>%</span></td> </tr> </table> <div style="font-family: 'times new roman'; font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; text-align: center; padding-bottom: 5pt; font-weight: bold; color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; margin: 3pt 0px 5pt 0px;"><b>Credit Quality</b> <b> <sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(2)</sup> </b></div> <div style="font-family: 'times new roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 2 Chart" src="chartimages_11824474.jpg" style="width: 172.8pt;"/> </div> <div style="font-family: 'times new roman'; font-weight: normal; color: rgb(0, 0, 0); font-size: 7.5pt; padding-left: 1.5em; text-indent: -1.5em; line-height: 8.25pt; letter-spacing: 0.01pt; margin: 1.5em 0px 0px 0px;">Any amount shown as 0.0% represents less than 0.1%.</div> <div style="font-family: 'times new roman'; font-weight: normal; color: rgb(0, 0, 0); font-size: 7.5pt; padding-left: 1.5em; text-indent: -1.5em; line-height: 8.25pt; letter-spacing: 0.01pt; margin: 0.5em 0px 0px 0px;"><sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(1)</sup> Includes variation margin on futures contracts.</div> <div style="font-family: 'times new roman'; font-weight: normal; color: rgb(0, 0, 0); font-size: 7.5pt; padding-left: 1.5em; text-indent: -1.5em; line-height: 8.25pt; letter-spacing: 0.01pt; margin: 0.5em 0px 7.5pt 0px;"><sup style="font-size: smaller; line-height: 0px; vertical-align: 3.2pt;">(2)</sup> The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Agency, U.S. Agency mortgage-backed, and U.S. Treasury securities appear under “Government &amp; Agency.” Credit ratings are subject to change.</div> 0.822 0.138 0.086 0.012 0.011 0.000 -0.032 -0.003 -0.034 1.000 The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Agency, U.S. Agency mortgage-backed, and U.S. Treasury securities appear under “Government &amp; Agency.” Credit ratings are subject to change. The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&amp;P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. <div style="font-family: 'times new roman'; font-size: 11.52pt; font-weight: bold; color: rgb(0, 60, 113); margin: 20pt 0px 3pt 0px;">HOW HAS THE FUND MATERIALLY CHANGED?</div> <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 7.5pt 0px;">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">www.ftportfolios.com/fund-documents/etf/MGOV</span> or upon request at 1-800-621-1675 or <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">info@ftportfolios.com</span>.</div> <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 7.5pt 0px;">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.49%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 7.5pt 0px;">This is a summary of certain changes to the Fund since November 1, 2025. For more complete information, you may review the Fund’s prospectus and any applicable supplements at <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">www.ftportfolios.com/fund-documents/etf/MGOV</span> or upon request at 1-800-621-1675 or <span style="white-space: nowrap; color: rgb(0, 60, 113); text-decoration-line: underline;">info@ftportfolios.com</span>.</div> www.ftportfolios.com/fund-documents/etf/MGOV 1-800-621-1675 info@ftportfolios.com <div style="font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'times new roman'; margin: 0px 0px 7.5pt 0px;">Effective February 1, 2026, the Board of Trustees has approved a permanent contractual reduction of the annual unitary management fee for the Fund. The annual unitary management fee for the Fund is now 0.49%. Additionally, under the Fund’s new fee structure, the Fund will not be eligible for any breakpoint discounts described in the Fund’s prospectus or statement of additional information.</div> 2026-02-01 FT Vest 20+ Year Treasury & Target Income ETF FT Vest 20+ Year Treasury & Target Income ETF LTTI This semi-annual shareholder report contains important information about the FT Vest 20+ Year Treasury &amp; Target Income ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/LTTI</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/LTTI 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">FT Vest 20+ Year Treasury &amp; Target Income ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>32</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.65<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 32 0.0065 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>13,847,279</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">6</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0<span>%</span></td> </tr> </table> 13847279 6 0 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The table below shows the investment makeup of the Fund, representing the percentage of net assets of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Fund Allocation</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">U.S. Treasury Bills</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.1<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Money Market Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.2<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Purchased Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">97.0<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Written Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">(0.0<span>%</span><span>)</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Net Other Assets and Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.7<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">100.0<span>%</span></td> </tr> </table><div style="margin-top:1.5em;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-family:'times new roman';font-weight:normal;color:rgb(0, 0, 0);font-size:7.5pt;padding-left:1.5em;text-indent:-1.5em;line-height:8.25pt;letter-spacing:0.01pt;">Any amount shown as 0.0% represents less than 0.1%.</div> 0.011 0.012 0.970 -0.000 0.007 1.000 FT Vest High Yield & Target Income ETF FT Vest High Yield & Target Income ETF HYTI This semi-annual shareholder report contains important information about the FT Vest High Yield &amp; Target Income ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/HYTI</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/HYTI 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">FT Vest High Yield &amp; Target Income ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>33</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.65<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 33 0.0065 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>82,318,235</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">6</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0<span>%</span></td> </tr> </table> 82318235 6 0 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The table below shows the investment makeup of the Fund, representing the percentage of net assets of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Fund Allocation</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">U.S. Treasury Bills</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.8<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Money Market Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.1<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Purchased Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">96.3<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Written Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">(0.0<span>%</span><span>)</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Net Other Assets and Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.8<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">100.0<span>%</span></td> </tr> </table><div style="margin-top:1.5em;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-family:'times new roman';font-weight:normal;color:rgb(0, 0, 0);font-size:7.5pt;padding-left:1.5em;text-indent:-1.5em;line-height:8.25pt;letter-spacing:0.01pt;">Any amount shown as 0.0% represents less than 0.1%.</div> 0.018 0.011 0.963 -0.000 0.008 1.000 FT Vest Investment Grade & Target Income ETF FT Vest Investment Grade & Target Income ETF LQTI This semi-annual shareholder report contains important information about the FT Vest Investment Grade &amp; Target Income ETF (the “Fund”) for the period of November 1, 2025 to April 30, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="white-space:nowrap;color:rgb(0, 60, 113);text-decoration-line:underline">www.ftportfolios.com/fund-documents/etf/LQTI</span>. You can also request this information by contacting us at 1-800-621-1675 or <span style="text-decoration-line:underline;color:rgb(0, 60, 113);font-size:9pt;font-weight:normal;font-family:'times new roman'">info@ftportfolios.com</span>. www.ftportfolios.com/fund-documents/etf/LQTI 1-800-621-1675 info@ftportfolios.com <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div><div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-family:'times new roman';font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);">(Based on a hypothetical $10,000 investment)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-weight: bold; vertical-align: bottom;">Fund</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); font-weight: bold; vertical-align: bottom;">Costs paid as a percentage<br/> of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; vertical-align: baseline;">FT Vest Investment Grade &amp; Target Income ETF</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline;"><span style="float:none">$</span>32</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); vertical-align: baseline; white-space: nowrap;">0.65<span>%</span><sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></td> </tr> </table><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; width: 1.8em; vertical-align: top;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">​<sup style="font-size:smaller;line-height:0px;vertical-align:3.2pt">(1)</sup></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-weight: normal; color: rgb(0, 0, 0); text-align: left; padding-top: 2.25pt; padding-right: 0; padding-bottom: 0; padding-left: 0; font-style: normal; font-size: 7.5pt; vertical-align: baseline;"> <div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';font-size:7.5pt;">Annualized. </div></td> </tr> </table> 32 0.0065 <div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">KEY FUND STATISTICS (As of April 30, 2026)</div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Fund net assets</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;"><span style="float:none">$</span>276,091,235</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">6</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-width:initial;border-bottom-color:initial;border-bottom-style:none"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; width: 60%; font-style: normal; font-weight: bold;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0<span>%</span></td> </tr> </table> 276091235 6 0 <div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-family:'times new roman';font-size:11.52pt;font-weight:bold;color:rgb(0, 60, 113);">WHAT DID THE FUND INVEST IN? (As of April 30, 2026)</div><div style="margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-size:9pt;font-weight:normal;color:rgb(0, 0, 0);font-family:'times new roman';">The table below shows the investment makeup of the Fund, representing the percentage of net assets of the Fund.</div><div style="font-family:'times new roman';font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;text-align:center;padding-bottom:5pt;font-weight:bold;color:rgb(0, 0, 0);margin-top:5pt;margin-right:0px;margin-bottom:0px;margin-left:0px;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;"> <b>Fund Allocation</b> </div><table style="width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid"> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">U.S. Treasury Bills</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.3<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Money Market Funds</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">1.1<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Purchased Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">96.9<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Written Options</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">(0.0<span>%</span><span>)</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Net Other Assets and Liabilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">0.7<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left;">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Times New Roman'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); white-space: nowrap;">100.0<span>%</span></td> </tr> </table><div style="margin-top:1.5em;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-family:'times new roman';font-weight:normal;color:rgb(0, 0, 0);font-size:7.5pt;padding-left:1.5em;text-indent:-1.5em;line-height:8.25pt;letter-spacing:0.01pt;">Any amount shown as 0.0% represents less than 0.1%.</div> 0.013 0.011 0.969 -0.000 0.007 1.000 The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Agency, U.S. Agency mortgage-backed, and U.S. Treasury securities appear under “Government & Agency.” Credit ratings are subject to change. The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Agency, U.S. Agency mortgage-backed, and U.S. Treasury securities appear under “Government & Agency.” Credit ratings are subject to change. Excludes any Acquired Fund Fees and Expenses of the underlying investment companies in which the Fund invests. Excludes any Acquired Fund Fees and Expenses of the underlying investment companies in which the Fund invests. Annualized. Includes variation margin on futures contracts. Annualized. The ratings are by S&P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the credit worthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change. Excludes any Acquired Fund Fees and Expenses of the underlying investment companies in which the Fund invests. Annualized. Includes variation margin on futures contracts. Annualized. Excludes any Acquired Fund Fees and Expenses of the underlying investment companies in which the Fund invests. Annualized. Annualized. Annualized. The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. Ratings are measured highest to lowest on a scale that generally ranges from AAA to D for long-term ratings and A-1+ to C for short-term ratings. Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher or a short-term credit rating of A-3 or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Treasury, U.S. Agency and U.S. Agency mortgage-backed securities appear under “Government & Agency”. Credit ratings are subject to change. Annualized. Annualized. The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO, of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Agency, U.S. Agency mortgage-backed, and U.S. Treasury securities appear under “Government & Agency.” Credit ratings are subject to change. The ratings are by S&P Global Ratings. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. “NR” indicates no rating. The credit ratings shown relate to the credit worthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change. Annualized. Annualized. Annualized. Annualized. The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, or a comparably rated NRSRO. For situations in which a security is rated by more than one RSRO and the ratings are not equivalent, the highest rating is used. Ratings are measured highest to lowest on a scale that generally ranges from AAA to D for long-term ratings and A-1 to C for short-term ratings. Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher or a short-term credit rating of A-3 or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Treasury, U.S. Agency and U.S. Agency mortgage-backed securities appear under “Government & Agency.” Credit ratings are subject to change. For newly issued debt securities for which only an expected rating from a NRSRO is available, the Fund may treat such expected rating as if it were a final rating for purposes of determining the credit quality categories shown. Annualized. Excludes any Acquired Fund Fees and Expenses of the underlying investment companies in which the Fund invests. Annualized. Includes variation margin on futures contracts. Annualized. Annualized. Annualized. Annualized. The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody’s Investors Service, Inc., Fitch Ratings, or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. Ratings are measured highest to lowest on a scale that generally ranges from AAA to D for long-term ratings and A-1+ to C for short-term ratings. Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher or a short-term credit rating of A-3 or higher. “NR” indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. U.S. Treasury, U.S. Agency and U.S. Agency mortgage-backed securities appear under “Government & Agency”. Credit ratings are subject to change. Excludes any Acquired Fund Fees and Expenses of the underlying investment companies in which the Fund invests. Annualized. Annualized. Annualized. Excludes any Acquired Fund Fees and Expenses of the underlying investment companies in which the Fund invests. Annualized.