As filed with the Securities and Exchange Commission on February 26, 2021
1933 Act Registration No. 333-174332
1940 Act Registration No. 811-22559
United States
Securities and Exchange Commission
Washington, D.C. 20549
Form N-1A
Registration Statement Under the Securities Act of 1933 | [ ] |
Pre-Effective Amendment No. __ | [ ] |
Post-Effective Amendment No. 178 | [X] |
and/or | |
Registration Statement Under the Investment Company Act of 1940 | [ ] |
Amendment No. 180 | [X] |
First Trust Exchange-Traded Fund IV
(Exact name of registrant as specified in charter)
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, including Area Code: (800) 621-1675
W. Scott Jardine, Esq., Secretary
First Trust Exchange-Traded Fund IV
First Trust Advisors L.P.
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187
(Name and Address of Agent for Service)
Copy to:
Eric F. Fess, Esq.
Chapman and Cutler LLP
111 West Monroe Street
Chicago, Illinois 60603
It is proposed that this filing will become effective (check appropriate box):
[ ] immediately upon filing pursuant to paragraph (b)
[X] on March 1, 2021 pursuant to paragraph (b)
[ ] 60 days after filing pursuant to paragraph (a)(1)
[ ] on (date) pursuant to paragraph (a)(1)
[ ] 75 days after filing pursuant to paragraph (a)(2)
[ ] on (date) pursuant to paragraph (a)(2) of Rule 485.
If appropriate, check the following box:
[ ] this post-effective amendment designates a new effective date for a previously filed post-effective amendment.
Contents of Post-Effective Amendment No. 178
This Registration Statement comprises the following papers and contents:
The Facing Sheet
Part A - Prospectus for FT Cboe Vest S&P 500® Dividend Aristocrats Target Income ETF
Part B - Statement of Additional Information for FT Cboe Vest S&P 500® Dividend Aristocrats Target Income ETF
Part C - Other Information
Signatures
Index to Exhibits
Exhibits
First Trust
Exchange-Traded Fund IV |
Ticker Symbol: |
KNG |
Exchange: |
Cboe BZX |
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) |
|
Management Fees |
|
Distribution and Service (12b-1) Fees |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
1 Year |
Since
Inception |
Inception
Date |
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Shares |
|
|
|
S&P 500® Index (reflects no deduction for fees, expenses or taxes) |
|
|
|
Cboe S&P 500® Dividend Aristocrats Target Income Index Monthly Series
(reflects no deduction for fees, expenses or taxes) |
|
|
|
|
|
Average Annual |
|
1 Year |
Inception
(3/26/2018) |
Fund Performance |
|
|
Net Asset Value |
-0.93% |
6.63% |
Market Price |
-1.13% |
6.50% |
Index Performance |
|
|
Cboe S&P 500® Dividend Aristocrats Target Income Index Monthly Series |
-0.29% |
7.40% |
S&P 500® Index |
9.71% |
10.40% |
|
Year Ended October 31, |
Period
Ended
10/31/2018(1) | |
|
2020 |
2019 | |
Net asset value, beginning of year/period |
$ 44.69 |
$ 40.28 |
$ 40.00 |
Income (loss) from investment operations: |
|
|
|
Net investment income (loss) (2) |
0.81 |
0.74 |
0.43 |
Net realized and unrealized gain (loss) on investments |
(3)(1.35) |
5.52 |
(3)0.70 |
Total from investment operations |
(0.54) |
6.26 |
1.13 |
Distributions: |
|
|
|
Distributions from: |
|
|
|
Net investment income |
(1.75) |
(1.57) |
(0.40) |
Realized gains |
___ |
(0.29) |
(0.46) |
Total distributions |
(1.75) |
(1.86) |
(0.86) |
Capital share transactions: |
|
|
|
Transaction fees (2) |
(4)(0.00) |
(0.01) |
(0.01) |
Net asset value, end of year/period |
$ 42.40 |
$ 44.69 |
$ 40.28 |
Total return (b) |
(0.93)% |
15.98% |
2.84% |
Supplemental data: |
|
|
|
Net assets at end of year/period (000’s) |
$ 66,778 |
$ 43,574 |
$ 19,134 |
Ratios to average net assets: |
|
|
|
Expenses to average net assets |
0.75% |
0.75% |
(6)0.75% |
Net investment income to average net assets |
1.89% |
1.75% |
(6)1.73% |
Portfolio turnover rate (7) |
86% |
83% |
(5)50% |
First Trust
Exchange-Traded Fund IV |
FUND NAME |
TICKER SYMBOL |
EXCHANGE |
FT Cboe Vest S&P 500® Dividend Aristocrats Target Income ETF® |
KNG |
Cboe BZX |
1 | |
3 | |
3 | |
4 | |
7 | |
8 | |
11 | |
17 | |
19 | |
20 | |
21 | |
22 | |
24 | |
25 | |
25 | |
28 | |
33 | |
34 | |
35 | |
35 | |
A-1 | |
B-1 |
Portfolio Turnover Rate
| |
Fiscal Year Ended October 31, | |
2020 |
2019 |
86% |
83% |
Name and
Year of Birth |
Position
and Offices
with Trust |
Term of
Office and
Year First
Elected or
Appointed |
Principal Occupations
During Past 5 Years |
Number of
Portfolios
in the First
Trust Fund
Complex
Overseen
by Trustee |
Other
Trusteeships or
Directorships
Held by
Trustee
During the
Past 5 Years |
TRUSTEE WHO IS AN INTERESTED PERSON OF THE TRUST | |||||
James A. Bowen (1)
1955 |
Chairman of the
Board and Trustee |
•Indefinite term
•Since inception |
Chief Executive Officer, First Trust
Advisors L.P. and First Trust Portfolios
L.P.; Chairman of the Board of Directors,
BondWave LLC (Software Development
Company) and Stonebridge Advisors LLC
(Investment Advisor) |
196 Portfolios |
None |
INDEPENDENT TRUSTEES | |||||
Richard E. Erickson
1951 |
Trustee |
•Indefinite term
•Since inception |
Physician; Officer, Wheaton Orthopedics;
Limited Partner, Gundersen Real Estate
Limited Partnership (June 1992 to
December 2016) |
196 Portfolios |
None |
Thomas R. Kadlec
1957 |
Trustee |
•Indefinite term
•Since inception |
President, ADM Investor Services, Inc.
(Futures Commission Merchant) |
196 Portfolios |
Director of ADM
Investor Services,
Inc., ADM Investor
Services
International,
Futures Industry
Association, and
National Futures
Association |
Robert F. Keith
1956 |
Trustee |
•Indefinite term
•Since inception |
President, Hibs Enterprises (Financial and
Management Consulting) |
196 Portfolios |
Director of Trust
Company of
Illinois |
Niel B. Nielson
1954 |
Trustee |
•Indefinite term
•Since inception |
Senior Advisor (August 2018 to present),
Managing Director and Chief Operating
Officer (January 2015 to August 2018),
Pelita Harapan Educational Foundation
(Educational Products and Services) |
196 Portfolios |
None |
Name and
Year of Birth |
Position and
Offices with Trust |
Term of Office and
Length of Service |
Principal Occupations
During Past 5 Years |
OFFICERS OF THE TRUST | |||
James M. Dykas
1966 |
President and Chief
Executive Officer |
•Indefinite term
•Since January 2016 |
Managing Director and Chief Financial Officer
(January 2016 to present), Controller (January
2011 to January 2016), Senior Vice President (April
2007 to January 2016), First Trust Advisors L.P. and
First Trust Portfolios L.P.; Chief Financial Officer
(January 2016 to present), BondWave LLC
(Software Development Company) and Stonebridge
Advisors LLC (Investment Advisor) |
W. Scott Jardine
1960 |
Secretary and Chief Legal
Officer |
•Indefinite term
•Since inception |
General Counsel, First Trust Advisors L.P. and First
Trust Portfolios L.P.; Secretary and General Counsel,
BondWave LLC; and Secretary, Stonebridge Advisors
LLC |
Daniel J. Lindquist
1970 |
Vice President |
•Indefinite term
•Since inception |
Managing Director, First Trust Advisors L.P. and First
Trust Portfolios L.P. |
Kristi A. Maher
1966 |
Chief Compliance Officer
and Assistant Secretary |
•Indefinite term
•Since inception |
Deputy General Counsel, First Trust Advisors L.P.
and First Trust Portfolios L.P. |
Donald P. Swade
1972 |
Treasurer, Chief Financial
Officer and Chief
Accounting Officer |
•Indefinite term
•Since January 2016 |
Senior Vice President (July 2016 to Present), Vice
President (April 2012 to July 2016), First Trust
Advisors L.P. and First Trust Portfolios L.P. |
Roger F. Testin
1966 |
Vice President |
•Indefinite term
•Since inception |
Senior Vice President, First Trust Advisors L.P. and
First Trust Portfolios L.P. |
Stan Ueland
1970 |
Vice President |
•Indefinite term
•Since inception |
Senior Vice President, First Trust Advisors L.P. and
First Trust Portfolios L.P. |
Name of Trustee |
Total Compensation from
the Fund (1) |
Total Compensation from
the First Trust Fund Complex (2) |
Richard E. Erickson |
$ 0 |
$ 472,625 |
Thomas R. Kadlec |
$ 0 |
$ 472,625 |
Robert F. Keith |
$ 0 |
$ 462,625 |
Niel B. Nielson |
$ 0 |
$482,625 |
Trustee |
Dollar Range of
Equity Securities
in the Fund
(Number of Shares
Held) |
Aggregate Dollar
Range of
Equity Securities in All
Registered
Investment Companies
Overseen by Trustee in
the
First Trust Fund
Complex |
Interested Trustee | ||
James A. Bowen |
None |
Over $100,000 |
Independent Trustees | ||
Richard E. Erickson |
None |
Over $100,000 |
Thomas R. Kadlec |
None |
Over $100,000 |
Robert F. Keith |
None |
Over $100,000 |
Niel B. Nielson |
None |
Over $100,000 |
Amount of Unitary Fees
| ||
Fiscal Year Ended October 31, | ||
2020 |
2019 |
2018 |
$406,589 |
$224,690 |
$41,822 |
Portfolio
Managers |
Registered
Investment
Companies
Number of
Accounts
($ Assets in
Thousands) |
Other Pooled
Investment
Vehicles
Number of
Accounts
($ Assets in
Thousands) |
Other Accounts
Number of
Accounts
($ Assets in
Thousands) |
Registered
Investment
Companies With
Performance Fees
Number of
Accounts
($ Assets in
Thousands) |
Other Pooled
Investment Vehicles
With
Performance Fees
Number of
Accounts
($ Assets in
Thousands) |
Other Accounts
With
Performance
Fees
Number of
Accounts
($ Assets in
Thousands) |
Karan Sood |
19 ($1,913,737,000) |
5 ($84,611,000) |
N/A |
N/A |
N/A |
N/A |
Howard Rubin |
19 ($1,913,737,000) |
5 ($84,611,000) |
N/A |
N/A |
N/A |
N/A |
Aggregate Amount of Brokerage Commissions
| ||
Fiscal Year Ended October 31, | ||
2020 |
2019 |
2018 |
$15,073 |
$8,745 |
$2,582 |
Total Non-Expiring Capital Loss Available | ||
Ordinary Income |
Long Term Capital Gain | |
$1,542,140 |
$715,677 |
NAME OF BENEFICIAL OWNER |
% OF
OUTSTANDING
SHARES OWNED |
FT CBOE VEST S&P 500® DIVIDEND ARISTOCRATS TARGET INCOME ETF® | |
TD Ameritrade Clearing, Inc. |
38.74% |
Charles Schwab & Co., Inc. |
14.75% |
National Financial Services LLC |
12.04% |
LPL Financial LLC |
11.63% |
RBC Capital Markets, LLC |
9.94% |
First Trust Exchange-Traded Fund IV
Part C – Other Information
Item 28. | Exhibits |
Exhibit No. Description
(a) | (1) Amended and Restated Declaration of Trust is incorporated by reference to the Post-Effective Amendment No. 150 filed on Form N-1A (File No. 333-174332) for Registrant on February 28, 2018. |
(2) Amended and Restated Establishment and Designation of Series is filed herewith.
(b) | By-Laws of the Registrant is incorporated by reference to the Registrant’s Registration Statement filed on Form N-1A (File No. 333-174332) filed on May 19, 2011. |
(c) | Not applicable. |
(d) | (1) Investment Management Agreement by and between the Registrant and First Trust Advisors L.P. is filed herewith. |
(2) Investment Sub-Advisory Agreement between the Registrant, First Trust Advisors L.P. and Cboe Vest Financial LLC is filed herewith.
(e) | (1) Distribution Agreement is incorporated by reference to the Post-Effective Amendment No. 30 filed on Form N-1A (File No. 333-174332) for Registrant on March 21, 2013. |
(2) Exhibit A to Distribution Agreement is filed herewith.
(f) | Not applicable. |
(2) Schedule II to Custody Agreement by and between the Registrant and The Bank of New York Mellon is filed herewith.
(2) Exhibit A to the Transfer Agency Agreement by and between the Registrant and The Bank of New York Mellon is filed herewith.
(4) Exhibit A to Administration and Accounting Agreement by and between the Registrant and The Bank of New York Mellon is filed herewith.
(i) | (1) Opinion and Consent of Morgan, Lewis & Bockius LLP is filed herewith. |
(2) Opinion and Consent of Chapman and Cutler LLP is filed herewith.
(j) | Not applicable |
(k) | Not applicable. |
(l) | Not applicable. |
(m) | (1) 12b-1 Distribution and Service Plan is incorporated by reference to the Pre-Effective Amendment No. 2 filed on Form N-1A (File No. 333-174332) for Registrant on June 14, 2012. |
(2) Exhibit A to 12b-1 Distribution and Service Plan is filed herewith.
(n) | Not applicable. |
(o) | Not applicable. |
__________________
Item 29. | Persons Controlled By or Under Common Control with Registrant |
Not Applicable.
Item 30. | Indemnification |
Section 9.5 of the Registrant’s Declaration of Trust provides as follows:
Section 9.5. Indemnification and Advancement of Expenses. Subject to the exceptions and limitations contained in this Section 9.5, every person who is, or has been, a Trustee, officer, or employee of the Trust, including persons who serve at the request of the Trust as directors, trustees, officers, employees or agents of another organization in which the Trust has an interest as a shareholder, creditor or otherwise (hereinafter referred to as a "Covered Person"), shall be indemnified by the Trust to the fullest extent permitted by law against liability and against all expenses reasonably incurred or paid by him or in connection with any claim, action, suit or proceeding in which he becomes involved as a party or otherwise by virtue of his being or having been such a Trustee, director, officer, employee or agent and against amounts paid or incurred by him in settlement thereof.
No indemnification shall be provided hereunder to a Covered Person to the extent such indemnification is prohibited by applicable federal law.
The rights of indemnification herein provided may be insured against by policies maintained by the Trust, shall be severable, shall not affect any other rights to which any Covered Person may now or hereafter be entitled, shall continue as to a person who has ceased to be such a Covered Person and shall inure to the benefit of the heirs, executors and administrators of such a person.
Subject to applicable federal law, expenses of preparation and presentation of a defense to any claim, action, suit or proceeding subject to a claim for indemnification under this Section 9.5 shall be advanced by the Trust prior to final disposition thereof upon receipt of an undertaking by or on behalf of the recipient to repay such amount if it is ultimately determined that he is not entitled to indemnification under this Section 9.5.
To the extent that any determination is required to be made as to whether a Covered Person engaged in conduct for which indemnification is not provided as described herein, or as to whether there is reason to believe that a Covered Person ultimately will be found entitled to indemnification, the Person or Persons making the determination shall afford the Covered Person a rebuttable presumption that the Covered Person has not engaged in such conduct and that there is reason to believe that the Covered Person ultimately will be found entitled to indemnification.
As used in this Section 9.5, the words "claim," "action," "suit" or "proceeding" shall apply to all claims, demands, actions, suits, investigations, regulatory inquiries, proceedings or any other occurrence of a similar nature, whether actual or threatened and whether civil, criminal, administrative or other, including appeals, and the words "liability" and "expenses" shall include without limitation, attorneys' fees, costs, judgments, amounts paid in settlement, fines, penalties and other liabilities.
Item 31. | Business and Other Connections of the Investment Adviser |
First Trust Advisors L.P. (“First Trust”), investment adviser to the Registrant, serves as adviser or sub-adviser to various other open-end and closed-end management investment companies and is the portfolio supervisor of certain unit investment trusts. The principal business of certain of First Trust’s principal executive officers involves various activities in connection with the family of unit investment trusts sponsored by First Trust Portfolios L.P. (“FTP”). The principal address for all these investment companies, First Trust, FTP and the persons below is 120 East Liberty Drive, Suite 400, Wheaton, Illinois 60187.
A description of any business, profession, vocation or employment of a substantial nature in which the officers of First Trust who serve as officers or trustees of the Registrant have engaged during the last two years for his or her account or in the capacity of director, officer, employee, partner or trustee appears under “Management of the Fund” in the Statement of Additional Information. Such information for the remaining senior officers of First Trust appears below:
Name and Position with First Trust | Employment During Past Two Years |
Andrew S. Roggensack, President | Managing Director and President, First Trust |
R. Scott Hall, Managing Director | Managing Director, First Trust |
David G. McGarel, Chief Investment Officer, Chief Operating Officer and Managing Director | Managing Director; Senior Vice President, First Trust |
Kathleen Brown, Chief Compliance Officer and Senior Vice President | Chief Compliance Officer and Senior Vice President, First Trust |
Brian Wesbury, Chief Economist and Senior Vice President | Chief Economist and Senior Vice President, First Trust |
Item 32. | Principal Underwriter |
(a) FTP serves as principal underwriter of the shares of the Registrant, First Trust Exchange-Traded Fund, First Trust Exchange-Traded Fund II, First Trust Exchange-Traded Fund III, First Trust Exchange-Traded Fund V, First Trust Exchange Traded Fund VI, First Trust Exchange-Traded Fund VII, First Trust Exchange-Traded Fund VIII, First Trust Exchange-Traded AlphaDEX® Fund, First Trust Exchange-Traded AlphaDEX® Fund II, First Trust Variable Insurance Trust and First Trust Series Fund. FTP serves as principal underwriter and depositor of the following investment companies registered as unit investment trusts: the First Trust Combined Series, FT Series (formerly known as the First Trust Special Situations Trust), the First Trust Insured Corporate Trust, the First Trust of Insured Municipal Bonds and the First Trust GNMA.
(b) Positions and Offices with Underwriter
Name
and Principal Business Address* |
Positions
and Offices with Underwriter |
Positions
and Offices with Fund |
The Charger Corporation | General Partner | None |
Grace Partners of DuPage L.P. | Limited Partner | None |
James A. Bowen | Chief Executive Officer and Managing Director | Trustee and Chairman of the Board |
James M. Dykas | Chief Financial Officer | President and Chief Executive Officer |
Frank L. Fichera | Managing Director | None |
R. Scott Hall | Managing Director | None |
W. Scott Jardine | General Counsel, Secretary and Managing Director | Secretary |
Daniel J. Lindquist | Managing Director | Vice President |
David G. McGarel | Chief Investment Officer, Chief Operating Officer and Managing Director | None |
Richard A. Olson | Managing Director | None |
Marisa Bowen | Managing Director | None |
Andrew S. Roggensack | President and Managing Director | None |
Kristi A. Maher | Deputy General Counsel | Chief Compliance Officer and Assistant Secretary |
* All addresses are |
(c) Not Applicable.
Item 33. | Location of Accounts and Records |
First Trust, 120 East Liberty Drive, Wheaton, Illinois 60187, maintains the Registrant’s organizational documents, minutes of meetings, contracts of the Registrant and all advisory material of the investment adviser.
Item 34. | Management Services |
Not Applicable.
Item 35. | Undertakings |
Not Applicable.
Signatures
Pursuant to the requirements
of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for
effectiveness of this Registration Statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, duly authorized in the City of Wheaton, and State of Illinois, on the 26th day
of February, 2021.
First Trust Exchange-Traded Fund IV | ||
By: | /s/ James M. Dykas | |
James M. Dykas, President and Chief Executive Officer |
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the date indicated:
Signature | Title | Date | |
/s/ James M. Dykas | President and Chief Executive Officer |
February 26, 2021 | |
James M. Dykas | |||
/s/ Donald P. Swade | Treasurer, Chief Financial Officer and Chief Accounting Officer |
February 26, 2021 | |
Donald P. Swade | |||
James A. Bowen* | ) Trustee ) |
||
) | |||
Richard E. Erickson* | ) Trustee ) |
||
) | |||
Thomas R. Kadlec* | ) Trustee ) |
||
) | By: | /s/ W. Scott Jardine | |
Robert F. Keith* | ) Trustee ) |
W. Scott Jardine Attorney-In-Fact | |
) | February 26, 2021 | ||
Niel B. Nielson* | ) Trustee ) |
||
) |
* | Original powers of attorney authorizing James A. Bowen, W. Scott Jardine, James M. Dykas, Eric F. Fess and Kristi A. Maher to execute Registrant's Registration Statement, and Amendments thereto, for each of the trustees of the Registrant on whose behalf this Registration Statement is filed, were previously executed, filed as an exhibit and are incorporated by reference herein. |
Index to Exhibits
(a)(2) | Amended and Restated Establishment and Designation of Series. |
(d)(1) | Investment Management Agreement by and between the Registrant and First Trust Advisors L.P. |
(d)(2) | Investment Sub-Advisory Agreement between the Registrant, First Trust Advisors L.P. and Cboe Vest Financial LLC. |
(e)(2) | Exhibit A to Distribution Agreement. |
(g)(2) | Schedule II to Custody Agreement by and between the Registrant and The Bank of New York Mellon. |
(h)(2) | Exhibit A to the Transfer Agency Agreement by and between the Registrant and The Bank of New York Mellon. |
(h)(4) | Exhibit A to Administration and Accounting Agreement by and between the Registrant and The Bank of New York Mellon. |
(i)(1) | Opinion and Consent of Morgan, Lewis & Bockius LLP. |
(i)(2) | Opinion and Consent of Chapman and Cutler LLP. |
(m)(2) | Exhibit A to 12b-1 Distribution and Service Plan. |