0001517936 2025-10-31 2025-10-31 0001517936 HYLS:S000039493Member 2025-10-31 2025-10-31 false 2026-11-03 2026-11-03 N-1A 0001517936 2025-10-31 497 First Trust Exchange-Traded Fund IV Notwithstanding anything to the contrary in the Fund’s Prospectus, the “Fees and Expenses of the Fund” section in the Fund’s prospectus is replaced in its entirety with the following: Fees and Expenses of the Fund The following table describes the fees and expenses you may pay if you buy, hold and sell shares of the Fund. Investors may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below. Shareholder Fees (fees paid directly from your investment) <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse"> <tr> <td style="border-top: black 1pt solid; vertical-align: top; width: 91%; border-bottom: black 1pt solid; font: 10pt/10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; padding-bottom: 4pt; text-align: left">Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)</td> <td style="border-top: black 1pt solid; width: 9%; border-bottom: black 1pt solid; font: 10pt/10pt Arial, Helvetica, Sans-Serif; padding-top: 2pt; padding-bottom: 2pt; text-align: center">None</td></tr> </table> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 91%; padding-top: 2pt; padding-bottom: 2pt; padding-left: 15.1pt; text-align: left; line-height: 10pt">Management Fees</td> <td style="width: 9%; padding-top: 2pt; padding-bottom: 2pt; text-align: center; line-height: 10pt">0.69%</td></tr> <tr style="vertical-align: top"> <td style="padding-top: 2pt; padding-bottom: 2pt; padding-left: 15.1pt; text-align: left; line-height: 10pt">Distribution and Service (12b-1) Fees</td> <td style="padding-top: 2pt; padding-bottom: 2pt; text-align: center; line-height: 10pt">0.00%</td></tr> <tr style="vertical-align: top"> <td style="border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 4pt; padding-left: 15.1pt; text-align: left; line-height: 10pt">Other Expenses(1)</td> <td style="border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 4pt; text-align: center; line-height: 10pt">0.09%</td></tr> <tr style="vertical-align: top"> <td style="border-bottom: black 2.25pt solid; padding-top: 2pt; padding-left: 15.1pt; text-align: left; line-height: 10pt">Total Annual Fund Operating Expenses(2)</td> <td style="border-bottom: black 2.25pt solid; padding-top: 2pt; padding-left: 2pt; text-align: center; line-height: 10pt">0.78%</td></tr> </table> (1) Other Expenses include margin interest. (2) Expenses have been restated to reflect the current fiscal year. Example The example below is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then hold or sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain at current levels. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="border-bottom: Black 1pt solid; width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">1 Year</td> <td style="border-bottom: Black 1pt solid; width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">3 Years</td> <td style="border-bottom: Black 1pt solid; width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">5 Years</td> <td style="border-bottom: Black 1pt solid; width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">10 Years</td></tr> <tr style="vertical-align: top"> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$80</td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$249</td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$433</td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$966</td></tr> </table>