Annual Report
For the Period Ended
October 31, 2023
First Trust Exchange-Traded Fund IV
FT Cboe Vest Rising Dividend Achievers Target Income ETF
(RDVI)
FT Cboe Vest SMID Rising Dividend Achievers Target
Income ETF (SDVD)
FT Cboe Vest Technology Dividend Target Income ETF
(TDVI)

Table of Contents
First Trust Exchange-Traded Fund IV
Annual Report
October 31, 2023
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51

Caution Regarding Forward-Looking Statements
This report contains certain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the goals, beliefs, plans or current expectations of First Trust Advisors L.P. (“First Trust” or the “Advisor”) and/or Cboe VestSM Financial LLC (“Cboe Vest” or the “Sub-Advisor”) and their respective representatives, taking into account the information currently available to them. Forward-looking statements include all statements that do not relate solely to current or historical fact. For example, forward-looking statements include the use of words such as “anticipate,” “estimate,” “intend,” “expect,” “believe,” “plan,” “may,” “should,” “would” or other words that convey uncertainty of future events or outcomes.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the series of First Trust Exchange-Traded Fund IV (the “Trust”) described in this report (each such series is referred to as a “Fund” and collectively, as the “Funds”) to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. When evaluating the information included in this report, you are cautioned not to place undue reliance on these forward-looking statements, which reflect the judgment of the Advisor and/or Sub- Advisor and their respective representatives only as of the date hereof. We undertake no obligation to publicly revise or update these forward-looking statements to reflect events and circumstances that arise after the date hereof.
Performance and Risk Disclosure
There is no assurance that any Fund described in this report will achieve its investment objectives. Each Fund is subject to market risk, which is the possibility that the market values of securities owned by the Fund will decline and that the value of the Fund’s shares may therefore be less than what you paid for them. Accordingly, you can lose money investing in a Fund. See “Risk Considerations” in the Additional Information section of this report for a discussion of certain other risks of investing in the Funds.
Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. For the most recent month-end performance figures, please visit www.ftportfolios.com or speak with your financial advisor. Investment returns, net asset value and share price will fluctuate and Fund shares, when sold, may be worth more or less than their original cost.
The Advisor may also periodically provide additional information on Fund performance on each Fund’s webpage at www.ftportfolios.com.
How to Read This Report
This report contains information that may help you evaluate your investment. It includes details about each Fund and presents data and analysis that provide insight into each Fund’s performance and investment approach.
By reading the portfolio commentary from the portfolio management team(s) of the Funds, you may obtain an understanding of how the market environment affected each Fund’s performance. The statistical information that follows may help you understand each Fund’s performance compared to that of a relevant market benchmark.
It is important to keep in mind that the opinions expressed by personnel of the Advisor and/or Sub-Advisor are just that: informed opinions. They should not be considered to be promises or advice. The opinions, like the statistics, cover the period through the date on the cover of this report. The material risks of investing in each Fund are spelled out in the prospectus, statement of additional information, and other Fund regulatory filings.
Page 1

Shareholder Letter
First Trust Exchange-Traded Fund IV
Annual Letter from the Chairman and CEO
October 31, 2023
Dear Shareholders,
First Trust is pleased to provide you with the annual report for certain series of the First Trust Exchange-Traded Fund IV (the “Funds”), which contains detailed information about the Funds for the twelve months ended October 31, 2023. Please note that the FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF and the FT Cboe Vest Technology Dividend Target Income ETF were incepted on August 9, 2023, and so the information in this letter and the annual report prior to that date does not apply to these Funds.
The Bureau of Economic Analysis recently announced that U.S. real gross domestic product (“GDP”) grew by a staggering 4.9% in the third quarter of 2023 and is now up 2.9% on a year-over-year basis from where it stood in the third quarter of 2022. The most recent quarter’s GDP data represents the fastest growth rate for any quarter since 2014. Consumer spending, which rose by 4.0% over the period, was responsible for 2.7 percentage points of the total increase in GDP. Whether the consumer can keep up this pace of spending remains to be seen, especially given recent news that excess savings from the pandemic-era stimulus have likely been depleted. From a global perspective, the International Monetary Fund (“IMF”) notes that progress in fighting inflation has led to lower economic growth. In their October 2023 publication of the World Economic Outlook, the IMF projected that the growth in world economic output is expected to slow from 3.5% in 2022 to 2.9% in 2024. The economic growth in advanced economies is projected to plummet from 2.6% in 2022 to 1.4% in 2024.
In the notes to their September 2023 meeting, the Federal Open Market Committee revealed that they may need to keep interest rates “higher for longer” as they continue to battle stubbornly high inflation. As many investors are likely aware, a higher Federal Funds target rate can have deep implications for consumers, such as driving up the cost of borrowing for homes, automobiles, and other large purchases. The American consumer has yet to feel the full weight of those burdens, in my opinion. That said, the data reveals a different story among corporate America. S&P Global Market Intelligence reported that a total of 516 U.S. corporations filed for bankruptcy protection on a year-to-date basis through September 30, 2023, up from a total of 263 corporate bankruptcy filings over the same period last year. Higher interest rates and Treasury bond yields have also sapped demand for commercial property loans. Data from Trepp, LLC, a leading provider of data and analytics to the commercial real estate and banking markets, revealed that just $28.2 billion of loans converted into commercial mortgage-backed securities have been issued in 2023, the lowest figure since 2011.
The financial markets battled a myriad of headwinds over the past year, from geopolitical uncertainty resulting from war (the conflicts between Israel and Hamas and Russia and Ukraine), to slowing global economic growth and sticky inflation. Brian Wesbury, Chief Economist at First Trust, notes that a U.S. economic recession is likely to begin at some point early next year. While calls for a recession may concern some investors, the following may offer solace. Data from Bloomberg reveals that the S&P 500® Index has posted positive total returns over the 3-year period following every recession since 1948.
Thank you for giving First Trust the opportunity to play a role in your financial future. We value our relationship with you and will report on the Funds again in six months.
Sincerely,
James A. Bowen
Chairman of the Board of Trustees
Chief Executive Officer of First Trust Advisors L.P.
Page 2

Fund Performance Overview (Unaudited)
FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI)
The FT Cboe Vest Rising Dividend Achievers Target Income ETF (the “Fund”) seeks to provide investors with current income with a secondary objective of providing capital appreciation. The shares of the Fund are listed on Cboe BZX Exchange, Inc. under the ticker symbol “RDVI.” Under normal market conditions, the Fund will pursue its investment objectives by investing in primarily in U.S. exchange-traded equity securities contained in the Nasdaq US Rising Dividend AchieversTM Index (the “Index”) and by utilizing an “option strategy” consisting of writing (selling) U.S. exchange-traded call options on the S&P 500® Index or exchange-traded funds that track the S&P 500® Index (“Underlying ETFs”). Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in dividend-paying securities and/or investments that provide exposure to dividend-paying securities.
Performance
 
 
Average Annual
Total Returns
Cumulative
Total Returns
 
1 Year
Ended
10/31/23
Inception
(10/19/22)
to 10/31/23
Inception
(10/19/22)
to 10/31/23
Fund Performance
NAV
4.02%
11.10%
11.48%
Market Price
3.96%
11.09%
11.48%
Index Performance
Nasdaq US Rising Dividend AchieversTM Index
4.33%
11.71%
12.12%
S&P 500® Index
10.14%
14.92%
15.45%
(See Notes to Fund Performance Overview on page 9.)
Page 3

Fund Performance Overview (Unaudited) (Continued)
FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI) (Continued) 
Sector Allocation
% of Total
Long-Term
Investments
Financials
38.9%
Information Technology
16.1
Materials
12.2
Energy
12.1
Health Care
8.5
Industrials
4.3
Communication Services
4.0
Consumer Discretionary
2.0
Consumer Staples
1.9
Total
100.0%
Fund Allocation
% of
Net Assets
Common Stocks
99.5%
Money Market Funds
0.2
Written Options
(0.2)
Net Other Assets and Liabilities
0.5
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Humana, Inc.
2.4%
Steel Dynamics, Inc.
2.3
Chord Energy Corp.
2.2
Microsoft Corp.
2.2
Aflac, Inc.
2.2
Mueller Industries, Inc.
2.2
Elevance Health, Inc.
2.2
Popular, Inc.
2.2
Snap-on, Inc.
2.1
Visa, Inc., Class A
2.1
Total
22.1%
Performance figures assume reinvestment of
all distributions and do not reflect the
deduction of taxes that a shareholder would
pay on Fund distributions or the redemption
or sale of Fund shares. An index is a statistical
composite that tracks a specified financial
market or sector. Unlike the Fund, the indices
do not actually hold a portfolio of securities
and therefore do not incur the expenses
incurred by the Fund. These expenses
negatively impact the performance of the
Fund. The Fund’s past performance does not
predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter) is available at  https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 4

Fund Performance Overview (Unaudited) (Continued)
FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF (SDVD)
The FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF (the “Fund”) seeks to provide investors with current income with a secondary objective of providing capital appreciation. The shares of the Fund are listed on Cboe BZX Exchange, Inc. under the ticker symbol “SDVD.” Under normal market conditions, the Fund will pursue its investment objectives by investing primarily in U.S. exchange-traded equity securities contained in the Nasdaq US Small-Mid Cap Rising Dividend AchieversTM Index (the “Index”) and by utilizing an “option strategy” consisting of writing (selling) U.S. exchange-traded call options on the Russell 2000® Index or exchange-traded funds that track the Russell 2000® Index (“Underlying ETFs”). Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in dividend-paying securities and/or investments that provide exposure to dividend-paying securities of small- and/or mid-capitalization companies.
Performance
 
Cumulative
Total Returns
 
Inception
(8/9/23)
to 10/31/23
Fund Performance
NAV
-9.56%
Market Price
-9.46%
Index Performance
Russell 2000® Index
-13.60%
Russell 3000® Index
-6.45%
Nasdaq US Small-Mid Cap Rising Dividend AchieversTM Index
-10.21%
(See Notes to Fund Performance Overview on page 9.)
Page 5

Fund Performance Overview (Unaudited) (Continued)
FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF (SDVD) (Continued) 
Sector Allocation
% of Total
Long-Term
Investments
Financials
30.0%
Industrials
24.0
Consumer Discretionary
14.5
Information Technology
10.8
Energy
9.6
Materials
6.0
Communication Services
2.1
Consumer Staples
2.0
Real Estate
1.0
Total
100.0%
Fund Allocation
% of
Net Assets
Common Stocks
98.5%
Written Options
(0.2)
Net Other Assets and Liabilities
1.7
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Sturm Ruger & Co., Inc.
1.2%
Steel Dynamics, Inc.
1.2
Insperity, Inc.
1.2
Chord Energy Corp.
1.1
Movado Group, Inc.
1.1
Steven Madden Ltd.
1.1
Texas Pacific Land Corp.
1.1
SM Energy Co.
1.1
Mueller Industries, Inc.
1.1
Columbia Sportswear Co.
1.1
Total
11.3%
Performance figures assume reinvestment of
all distributions and do not reflect the
deduction of taxes that a shareholder would
pay on Fund distributions or the redemption
or sale of Fund shares. An index is a statistical
composite that tracks a specified financial
market or sector. Unlike the Fund, the indices
do not actually hold a portfolio of securities
and therefore do not incur the expenses
incurred by the Fund. These expenses
negatively impact the performance of the
Fund. The Fund’s past performance does not
predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter) is available at  https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 6

Fund Performance Overview (Unaudited) (Continued)
FT Cboe Vest Technology Dividend Target Income ETF (TDVI)
The FT Cboe Vest Technology Dividend Target Income ETF (the “Fund”) (the “Fund”) seeks to provide investors with current income with a secondary objective of providing capital appreciation. The shares of the Fund are listed on Cboe BZX Exchange, Inc. under the ticker symbol “TDVI.” Under normal market conditions, the Fund will pursue its investment objectives by investing primarily in U.S. exchange-traded equity securities contained in the Nasdaq Technology DividendTM Index (the “Index”) and by utilizing an “option strategy” consisting of writing (selling) U.S. exchange-traded call options on the Nasdaq-100® Index and/or the S&P 500® Index or exchange-traded funds that track the Nasdaq-100® Index or the S&P 500® Index (“Underlying ETFs”). Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in dividend-paying securities and/or investments that provide exposure to dividend-paying securities of technology companies (i.e., securities classified under the Technology Industry or Telecommunications Industry as defined by the Industry Classification Benchmark (ICB)).
Performance
 
Cumulative
Total Returns
 
Inception
(8/9/23)
to 10/31/23
Fund Performance
NAV
-4.45%
Market Price
-4.40%
Index Performance
Nasdaq-100 Index®
-4.39%
S&P 500® Index
-5.79%
Nasdaq Technology DividendTM Index
-4.99%
(See Notes to Fund Performance Overview on page 9.)
Page 7

Fund Performance Overview (Unaudited) (Continued)
FT Cboe Vest Technology Dividend Target Income ETF (TDVI) (Continued) 
Sector Allocation
% of Total
Long-Term
Investments
Information Technology
84.2%
Communication Services
14.3
Industrials
1.5
Total
100.0%
Fund Allocation
% of
Net Assets
Common Stocks
98.9%
Written Options
(0.2)
Net Other Assets and Liabilities
1.3
Total
100.0%
Top Ten Holdings
% of Total
Long-Term
Investments
Microsoft Corp.
9.0%
International Business Machines Corp.
8.6
Broadcom, Inc.
8.0
Texas Instruments, Inc.
7.4
Oracle Corp.
7.0
QUALCOMM, Inc.
4.2
Analog Devices, Inc.
3.1
Verizon Communications, Inc.
2.2
Motorola Solutions, Inc.
2.1
HP, Inc.
2.0
Total
53.6%
Performance figures assume reinvestment of
all distributions and do not reflect the
deduction of taxes that a shareholder would
pay on Fund distributions or the redemption
or sale of Fund shares. An index is a statistical
composite that tracks a specified financial
market or sector. Unlike the Fund, the indices
do not actually hold a portfolio of securities
and therefore do not incur the expenses
incurred by the Fund. These expenses
negatively impact the performance of the
Fund. The Fund’s past performance does not
predict future performance.
Frequency Distribution of Discounts and Premiums
Information showing the number of days the market price of the Fund’s shares was greater (at a premium) and less (at a discount) than the Fund’s net asset value for the most recently completed year, and the most recently completed calendar quarters since that year (or life of the Fund, if shorter) is available at  https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 8

Notes to Fund Performance Overview (Unaudited)
Total returns for the periods since inception are calculated from the inception date of each Fund. “Average Annual Total Returns” represent the average annual change in value of an investment over the periods indicated. “Cumulative Total Returns” represent the total change in value of an investment over the periods indicated.
Each Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is computed by dividing the value of all assets of the Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of outstanding shares. The price used to calculate market return (“Market Price”) is determined by using the midpoint of the national best bid and offer price (“NBBO”) as of the time that the Fund’s NAV is calculated. Under Securities and Exchange Commission rules, the NBBO consists of the highest displayed buy and lowest sell prices among the various exchanges trading the Fund at the time the Fund’s NAV is calculated. Since shares of each Fund did not trade in the secondary market until after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund, the NAV of each Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that all distributions have been reinvested in each Fund at NAV and Market Price, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike each Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by each Fund. These expenses negatively impact the performance of each Fund. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower. The total returns presented reflect the reinvestment of dividends on securities in the indices. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. The investment return and principal value of shares of each Fund will vary with changes in market conditions. Shares of each Fund may be worth more or less than their original cost when they are redeemed or sold in the market. Each Fund’s past performance is no guarantee of future performance. 
Page 9

Portfolio Commentary
First Trust Exchange-Traded Fund IV
Annual Report
October 31, 2023 (Unaudited)
Advisor
First Trust Advisors L.P. (“First Trust” or the “Advisor”) is the investment advisor to the FT Cboe Vest Rising Dividend Achievers Target Income ETF (“RDVI”), the FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF (“SDVD”), and the FT Cboe Vest Technology Dividend Target Income ETF (“TDVI”) (each a “Fund” and collectively, the “Funds”). First Trust is responsible for the ongoing monitoring of each Fund’s investment portfolio, managing the business affairs of each Fund and providing certain administrative services necessary for the management of each Fund.
Sub-Advisor
Cboe VestSM Financial LLC (“Cboe Vest” or the “Sub-Advisor”) serves as the investment sub-advisor to the Funds. In this capacity, Cboe Vest is responsible for the selection and ongoing monitoring of the securities in each Fund’s investment portfolio. Cboe Vest, with principal offices at 8350 Broad Street, Suite 240, McLean, VA  22102, was founded in 2012. Cboe Vest had approximately $17.8 billion under management or committed to management as of October 31, 2023.
Portfolio Management Team
The following persons serve as portfolio managers to the Funds:
Karan Sood, Managing Director of Cboe Vest
Howard Rubin, Managing Director of Cboe Vest
The portfolio managers are primarily and jointly responsible for the day-to-day management of the Funds. Each portfolio manager has served as a part of the portfolio management team of RDVI since October 2022 and SDVD and TDVI since August 2023.
Commentary
Market Recap
Equity markets showed remarkable resilience in late 2022 and the first half of 2023, followed by declines in the third quarter of 2023 as well as October of 2023, as inflation and recession fears resurfaced. The Federal Reserve (the “Fed”) responded to the increased inflation rate during the 12-month period ended October 31, 2023 (the Period) by hiking the Federal Funds target rate from 3.25% to 5.5% by the end of the Period.
U.S. equities, as measured by the S&P 500® Index, gained 10.12% during the Period. Five of the sectors within the S&P 500® Index were up, while six were down. The top three performing sectors were the Telecommunication Services, Information Technology, and Consumer Discretionary sectors, returning 35.8%, 30.9%, and 8.4%, respectively. The bottom three performing sectors were the Utilities, Real Estate, and Healthcare sectors, returning -7.7%, -6.6%, and -4.6%, respectively.
FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI)
Discussion of Fund Performance
This discussion is for the FT Cboe Vest Rising Dividend Achievers Target Income ETF for the Period. The Fund’s inception date was October 19, 2022. The Fund’s performance is compared to an index called the Nasdaq US Rising Dividend AchieversTM Index (the “Index” or “NQDVRIST”).
Performance Analysis
Under normal market conditions, the Fund will pursue its investment objectives by investing primarily in U.S. exchange-traded equity securities contained in the Index and by utilizing an “option strategy” consisting of writing (selling) U.S. exchange-traded call options on the S&P 500® Index or exchange-traded funds that track the S&P 500® Index (Underlying ETFs).
During the Period, the Fund generally held approximately equal weights in 50 stocks, as well as written call options on the S&P 500® Index. The premiums received from the written call options, plus the dividends received from the equities, sum to approximately 8.0% in excess of the dividend yield of the S&P 500® Index annually.
For the Period, the Fund’s net asset value (“NAV”) performance was 4.02%, while the Index performance was 4.33%. The underperformance of 0.31% can be explained by the following factors:
Page 10

Portfolio Commentary (Continued)
First Trust Exchange-Traded Fund IV
Annual Report
October 31, 2023 (Unaudited)
(1)
Fees and Expenses: Fees and expenses reduced the Fund’s performance by approximately 0.75%.
(2)
Execution Costs: Commissions, plus slippage due to trading securities at prices other than mid-market, reduced the Fund’s performance by approximately 0.03%.
(3)
Fund versus Index Holdings: While the Fund attempts to hold equity securities in the same proportion (i.e., weighting) as the Index, the Fund also writes call options on the S&P 500® Index, whereas the Index does not. For the Period we estimate that the difference in the holdings between the Fund and the Index had a net 0.47% positive impact on the Fund’s performance.
Using market prices for the Fund, the Fund’s performance for the Period was 3.96%.
Impact of Fund Holdings on Performance
The top five performing holdings in the Fund for the Period were LAM Research Corp., Microsoft Corp., Lennar Corp., Reliance Steel & Aluminum Co., and MGIC Investment Corp., with returns of 47.2%, 47.1%, 34.0%, 28.3%, and 26.8%, respectively.
The bottom five performing holdings in the Fund for the Period were Comerica, Inc., Citizens Financial Group, Inc., Huntington Bancshares, Inc., Pfizer, Inc., and Regions Financial Corp., with returns of -40.7%, -38.8%, -32.86%, -31.68%, and -30.9%, respectively.
Impact of Sector Weightings on Performance
For the Period, the Fund had sector weightings that were in line with the Index. However, the Fund’s sector weightings were substantially different than the sector weightings of the S&P 500® Index.
Strong performances in the Information Technology and Communication Services sectors, coupled with the Fund’s relative underweights in these sectors, contributed to relative underperformance for the Fund versus the S&P 500® Index.
Weak performance in the Financials sector, coupled with the Fund’s relative overweight in this sector, contributed to additional relative underperformance for the Fund versus the S&P 500® Index.
Weak performances in the HealthCare, Consumer Staples, Utilities, and Real Estate sectors, coupled with the Fund’s relative underweight in each of these sectors, contributed to relative overperformance for the Fund versus the S&P 500® Index.
Market and Fund Outlook
During the Period, the Fed’s policy surrounding inflation remained a key driver of equity market performance. Moving into the next fiscal year, this will continue to be a dominant theme, in our opinion. The 2024 U.S. Presidential election will also be front and center in the upcoming year. Over the course of 2023, Technology stocks led broad based indices, as investors flocked to companies developing Artificial Intelligence capabilities. The failure of Silicon Valley Bank in March 2023 sent shockwaves throughout the banking system, and rising energy prices over the summer contributed to higher inflation. In late October 2023, the 30-Year fixed mortgage rates peaked at 7.79%. Investors are digesting a possible “higher for longer” period of sustained higher rates based on the Fed’s “dot plot” forecasting a median Federal Funds target rate of 5.1% for 2024, and 3.9% for 2025. Consumer Price Index inflation data has come down considerably, despite an unexpected 0.6% month-over-month reading in August 2023. The U.S. job market remains strong at 3.9% unemployment, with October 2023 marking the twenty-first straight month with unemployment below 4%. U.S. gross domestic product has posted five consecutive positive quarters as it recorded growth of 4.9% in the third quarter of 2023, up from 2.1% in the second quarter of 2023.
The Fund generally holds equities similar in name and weight to those equities in the NQDVRIST. This index is designed to assemble a portfolio of stocks that are positioned to continue increasing dividends. We believe that the Fund is properly positioned to achieve its investment objectives.
FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF (SDVD)
Discussion of Fund Performance
This discussion is for the FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF for the period from the Fund’s inception date on August 9, 2023 through October 31, 2023 (the “Period”). The Fund’s performance is compared to an index called the Nasdaq US Small-Mid Cap Rising Dividend AchieversTM Index (the “Index” or “NQDVSMRT”).
Page 11

Portfolio Commentary (Continued)
First Trust Exchange-Traded Fund IV
Annual Report
October 31, 2023 (Unaudited)
Performance Analysis
Under normal market conditions, the Fund will pursue its investment objectives by investing primarily in U.S. exchange-traded equity securities contained in the Index and by utilizing an “option strategy” consisting of writing (selling) U.S. exchange-traded call options on the Russell 2000® Index or exchange-traded funds that track the Russell 2000® Index (Underlying ETFs).
During the Period, the Fund generally held approximately equal weights in about 100 stocks, as well as written call options on the Russell 2000® Index. The premiums received from the written call options, plus the dividends received from the equities, sum to approximately 8.0% in excess of the dividend yield of the Russell 2000® Index annually.
For the Period, the Fund’s net asset value (“NAV”) performance was -9.56%, while the NQDVSMRT Index performance was -10.21%. The outperformance of 0.65% can be explained by the following factors:
(1)
Fees and Expenses:  Fees and expenses reduced the Fund’s performance by approximately 0.19%.
(2)
Execution Costs:  Commissions, plus slippage due to trading securities at prices other than mid-market, reduced the Fund’s performance by approximately 0.04%.
(3)
Fund versus Index Holdings:  While the Fund attempts to hold equity securities in the same proportion (i.e., weighting) as the Index, the Fund also holds writes call options on the Russell 2000® Index, whereas the NQDVSMRT Index does not. For the Period we estimate that the difference in the holdings between the Fund and the Index had a net 0.88% positive impact on the Fund’s performance.
Using market prices for the Fund, the Fund’s performance for the Period was -9.46%.
Impact of Fund Holdings on Performance
The top five performing holdings in the Fund for the Period were Alpha Metallurgical Resources, Jackson Financial Inc., CONSOL Energy Inc., Insperity, Inc., and Matador Resources Company, with returns of 20.0%, 12.5%, 10.0%, 8.5%, and 4.8%, respectively.
The bottom five performing holdings in the Fund for the Period were Eagle Bancorp, Inc., Dick’s Sporting Goods, Inc., Regal Rexnord Corp., M.D.C. Holdings, Inc., and Terex Corporation, with returns of -26.0%, -25.8%, -25.5%, -25.3%, and -25.0%, respectively.
Impact of Sector Weightings on Performance
For the Period, the Fund had sector weightings that were in line with the NQDVSMRT. However, the Fund’s sector weightings were substantially different than the sector weightings of the S&P 500® Index.
Relatively strong performance in the Information Technology sector, coupled with the Fund’s relative underweight in this sector, contributed to relative underperformance for the Fund versus the S&P 500® Index.
Relatively weak performance in the Industrials sector, coupled with the Fund’s relative overweight in this sector, contributed to additional relative underperformance for the Fund versus the S&P 500® Index.
Relatively weak performance in the Health Care sector, coupled with the Fund’s relative underweight in this sector, contributed to relative outperformance for the Fund versus the S&P 500® Index.
Market and Fund Outlook
During the 12-month period ended October 31, 2023, the Fed’s policy surrounding inflation remained a key driver of equity market performance. Moving into the next fiscal year, this will continue to be a dominant theme, in our opinion. The 2024 U.S. Presidential election will also be front and center in the upcoming year. Over the course of 2023, Technology stocks led broad based indices, as investors flocked to companies developing Artificial Intelligence capabilities. The failure of Silicon Valley Bank in March 2023 sent shockwaves throughout the banking system, and rising energy prices over the summer contributed to higher inflation. The 30-year fixed mortgage rates peaked at 7.79% in late October 2023. Investors are digesting a possible “higher for longer” period of sustained higher rates based on the Fed’s “dot plot” forecasting a median Federal Funds target rate of 5.1% for 2024, and 3.9% for 2025. Consumer Price Index inflation data has come down considerably, despite an unexpected 0.6% month-over-month reading in August 2023. The U.S. job market remains strong at 3.9% unemployment, with October 2023 marking the twenty-first straight month with
Page 12

Portfolio Commentary (Continued)
First Trust Exchange-Traded Fund IV
Annual Report
October 31, 2023 (Unaudited)
unemployment below 4%. U.S. gross domestic product has posted five consecutive positive quarters as it recorded growth of 4.9% in the third quarter of 2023, up from 2.1% in the second quarter of 2023.
The Fund generally holds equities similar in name and weight to those equities in the NQDVSMRT. This index is designed to assemble a portfolio of stocks that are positioned to continue increasing dividends. We believe that the Fund is properly positioned to achieve its investment objectives.
FT Cboe Vest Technology Dividend Target Income ETF (TDVI)
Discussion of Fund Performance
This discussion is for the Fund for period from the Fund’s inception date on August 9, 2023 through October 31, 2023 (the “Period”). The Fund’s performance is compared to an index called the Nasdaq Technology DividendTM Index (the “Index” or “NQ96DVUX”).
Performance Analysis
Under normal market conditions, the Fund will pursue its investment objectives by investing primarily in U.S. exchange-traded equity securities contained in the Index and by utilizing an “option strategy” consisting of writing (selling) U.S. exchange-traded call options on the the Nasdaq-100® Index and/or the S&P 500® Index or exchange-traded funds that track the the Nasdaq-100® Index and/or the S&P 500® Index (Underlying ETFs).
During the Period, the Fund generally held about 83 Technology and Telecommunication stocks, as well as written call options on the Nasdaq-100® Index and S&P 500® Index. The premiums received from the written call options, plus the dividends received from the equities, sum to approximately 8.0% in excess of the dividend yield of the Nasdaq-100® Index annually.
For the Period, the Fund’s net asset value performance was -4.45%, while the NQ96DVUX performance was -4.99%. The outperformance of 0.54% can be explained by the following factors:
(1)
Fees and Expenses: Fees and expenses reduced the Fund’s performance by approximately 0.17%.
(2)
Execution Costs: Commissions, plus slippage due to trading securities at prices other than mid-market, reduced the Fund’s performance by approximately 0.02%.
(3)
Fund versus Index Holdings: While the Fund attempts to hold equity securities in the same proportion (i.e., weighting) as the Index, the Fund also holds writes call options on the  Nasdaq-100® Index and/or the S&P 500® Index, whereas the NQ96DVUX Index does not. For the Period we estimate that the difference in the holdings between the Fund and the Index had a net 0.73% positive impact on the Fund’s performance.
Using market prices for the Fund, the Fund’s performance for the Period was -4.40%.
Impact of Fund Holdings on Performance
The top five performing holdings in the Fund for the Period were JOYY Inc., Dell Technologies Inc., Logitech International S.A., Cogent Communications Holdings, Inc., and Telephone and Data Systems, Inc., with returns of 19.9%, 19.0%, 18.4%, 12.9%, and 10.0%, respectively.
The bottom five performing holdings in the Fund for the Period were Methode Electronics, Inc., A10 Networks, Inc., Opera Limited, Ubiquiti Inc., and Kulicke & Soffa Industries, Inc., with returns of -29.5%, -28.8%, -27.9%, -27.2%, and -23.2%, respectively.
Impact of Sector Weightings on Performance
For the Period, the Fund had sector weightings that were in line with the NQ96DVUX. However, the Fund’s sector weightings were substantially different than the sector weightings of the S&P 500® Index. The Fund’s equity holdings are distributed approximately 80% to companies in the Information Technology sector and 20% to companies in the Telecommunications Services sector.
Both the Information Technology and Telecommunication Services sectors slightly outperformed the S&P 500® Index over the Period. This, coupled with the Fund’s overweight in these two sectors, contributed to relative overperformance for the Fund versus the S&P 500® Index.
Page 13

Portfolio Commentary (Continued)
First Trust Exchange-Traded Fund IV
Annual Report
October 31, 2023 (Unaudited)
Market and Fund Outlook
During the 12-month period ended October 31, 2023, the Fed’s policy surrounding inflation remained a key driver of equity market performance. Moving into the next fiscal year, this will continue to be a dominant theme, in our opinion. The 2024 U.S. Presidential election will also be front and center in the upcoming year. Over the course of 2023, Technology stocks led broad based indices, as investors flocked to companies developing Artificial Intelligence capabilities. The failure of Silicon Valley Bank in March 2023 sent shockwaves throughout the banking system, and rising energy prices over the summer contributed to higher inflation. The 30-year fixed mortgage rates peaked at 7.79% in late October of 2023. Investors are digesting a possible “higher for longer” period of sustained higher rates based on the Fed’s “dot plot” forecasting a median Federal Funds target rate of 5.1% for 2024, and 3.9% for 2025. Consumer Price Index inflation data has come down considerably, despite an unexpected 0.6% month-over-month reading in August 2023. The U.S. job market remains strong at 3.9% unemployment, with October 2023 marking the twenty-first straight month with unemployment below 4%. U.S. gross domestic product has posted five consecutive positive quarters as it recorded growth of 4.9% in the third quarter of 2023, up from 2.1% in the second quarter of 2023.
The Fund generally holds equities similar in name and weight to those equities in the NQ96DVUX. This index is designed to assemble a portfolio of Information Technology and Telecommunication Services stocks that pay high dividends. We believe that the Fund is properly positioned to achieve its investment objectives.
Page 14

First Trust Exchange-Traded Fund IV
Understanding Your Fund Expenses
October 31, 2023 (Unaudited)
As a shareholder of FT Cboe Vest Rising Dividend Achievers Target Income ETF, FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF, or FT Cboe Vest Technology Dividend Target Income ETF (each a “Fund” and collectively, the “Funds”), you incur two types of costs: (1) transaction costs; and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees, if any, and other Fund expenses. This Example is intended to help you understand your ongoing costs of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The Example is based on an investment of $1,000 invested at the beginning of the period (or since inception) and held through the six-month (or shorter) period ended October 31, 2023.
Actual Expenses
The first line in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During the Period” to estimate the expenses you paid on your account during this six-month (or shorter) period.
Hypothetical Example for Comparison Purposes
The second line in the following table provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not each Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Funds and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs such as brokerage commissions. Therefore, the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
Beginning
Account Value
May 1, 2023
Ending
Account Value
October 31, 2023
Annualized
Expense Ratio
Based on the
Six-Month
Period
Expenses Paid
During the
Six-Month
Period (a)
FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI)
Actual
$1,000.00
$982.90
0.75%
$3.75
Hypothetical (5% return before expenses)
$1,000.00
$1,021.42
0.75%
$3.82
 
Beginning
Account Value
August 9, 2023 (b)
Ending
Account Value
October 31, 2023
Annualized
Expense Ratio
Based on the
Number of Days
in the Period
Expenses Paid
During the Period
August 9, 2023 (b)
to
October 31, 2023 (c)
FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF (SDVD)
Actual
$1,000.00
$904.40
0.85%
$1.86
Hypothetical (5% return before expenses)
$1,000.00
$1,020.92
0.85%
$4.33
FT Cboe Vest Technology Dividend Target Income ETF (TDVI)
Actual
$1,000.00
$955.50
0.75%
$1.69
Hypothetical (5% return before expenses)
$1,000.00
$1,021.42
0.75%
$3.82
(a)
Expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value over the period (May 1, 2023
through October 31, 2023), multiplied by 184/365 (to reflect the six-month period).
(b)
Inception date.
(c)
Actual expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value over the period
(August 9, 2023 through October 31, 2023), multiplied by 84/365. Hypothetical expenses are assumed for the most recent six-month period.
Page 15

FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI)
Portfolio of Investments
October 31, 2023 
Shares
Description
Value
COMMON STOCKS — 99.5%
Banks — 15.4%
350,851
Bank of America Corp. (a)
$9,241,415
361,906
Citizens Financial Group, Inc. (a)
8,479,458
232,251
Comerica, Inc. (a)
9,150,690
945,708
Huntington Bancshares, Inc. (a)
9,126,082
67,986
JPMorgan Chase & Co. (a)
9,454,133
80,093
PNC Financial Services Group (The), Inc. (a)
9,168,246
158,525
Popular, Inc. (a)
10,310,466
563,425
Regions Financial Corp. (a)
8,186,565
 
73,117,055
Capital Markets — 3.6%
29,559
Goldman Sachs Group (The), Inc. (a)
8,974,408
114,464
Morgan Stanley (a)
8,106,340
 
17,080,748
Chemicals — 2.1%
123,242
CF Industries Holdings, Inc. (a)
9,832,247
Communications Equipment — 2.0%
180,574
Cisco Systems, Inc. (a)
9,413,323
Consumer Finance — 7.7%
61,791
American Express Co. (a)
9,023,340
96,871
Capital One Financial Corp. (a)
9,812,063
112,747
Discover Financial Services (a)
9,254,274
311,126
Synchrony Financial (a)
8,727,084
 
36,816,761
Financial Services — 8.0%
346,977
Equitable Holdings, Inc. (a)
9,219,179
24,433
Mastercard, Inc., Class A (a)
9,195,360
585,606
MGIC Investment Corp. (a)
9,861,605
41,971
Visa, Inc., Class A (a)
9,867,382
 
38,143,526
Food Products — 1.9%
127,522
Archer-Daniels-Midland Co. (a)
9,126,749
Health Care Equipment & Supplies — 2.0%
99,460
Abbott Laboratories (a)
9,403,943
Health Care Providers & Services — 4.5%
22,921
Elevance Health, Inc. (a)
10,316,513
21,516
Humana, Inc. (a)
11,267,714
 
21,584,227
Household Durables — 2.0%
88,178
Lennar Corp., Class A (a)
9,406,829
Insurance — 4.0%
132,247
Aflac, Inc. (a)
10,329,813
131,499
Principal Financial Group, Inc. (a)
8,899,852
 
19,229,665
IT Services — 4.0%
32,394
Accenture PLC, Class A (a)
9,623,933
144,213
Cognizant Technology Solutions Corp., Class A (a)
9,297,412
 
18,921,345
See Notes to Financial Statements
Page 16

FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI)
Portfolio of Investments (Continued)
October 31, 2023 
Shares
Description
Value
COMMON STOCKS (Continued)
Machinery — 4.3%
273,867
Mueller Industries, Inc. (a)
$10,327,524
38,834
Snap-on, Inc. (a)
10,016,842
 
20,344,366
Media — 4.0%
329,180
Interpublic Group of (The) Cos., Inc. (a)
9,348,712
130,704
Omnicom Group, Inc. (a)
9,791,037
 
19,139,749
Metals & Mining — 8.2%
250,639
Freeport-McMoRan, Inc. (a)
8,466,585
65,099
Nucor Corp. (a)
9,620,981
38,754
Reliance Steel & Aluminum Co. (a)
9,858,243
102,503
Steel Dynamics, Inc. (a)
10,917,595
 
38,863,404
Oil, Gas & Consumable Fuels — 12.0%
60,777
Chevron Corp. (a)
8,857,032
63,968
Chord Energy Corp. (a)
10,575,190
121,567
Civitas Resources, Inc. (a)
9,169,799
81,902
ConocoPhillips (a)
9,729,958
86,710
Exxon Mobil Corp. (a)
9,178,253
439,180
Magnolia Oil & Gas Corp., Class A (a)
9,859,591
 
57,369,823
Paper & Forest Products — 1.8%
172,599
Louisiana-Pacific Corp. (a)
8,850,877
Pharmaceuticals — 1.9%
296,987
Pfizer, Inc. (a)
9,075,923
Semiconductors & Semiconductor Equipment — 5.9%
16,214
Lam Research Corp. (a)
9,537,399
144,793
Micron Technology, Inc. (a)
9,682,308
62,223
Texas Instruments, Inc. (a)
8,836,288
 
28,055,995
Software — 2.2%
30,642
Microsoft Corp. (a)
10,360,367
Technology Hardware, Storage & Peripherals — 2.0%
130,189
NetApp, Inc. (a)
9,475,155
Total Common Stocks
473,612,077
(Cost $509,335,593)
MONEY MARKET FUNDS — 0.2%
1,126,779
Dreyfus Government Cash Management Fund, Institutional Shares - 5.23% (b)
1,126,779
(Cost $1,126,779)
Total Investments — 99.7%
474,738,856
(Cost $510,462,372)
See Notes to Financial Statements
Page 17

FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI)
Portfolio of Investments (Continued)
October 31, 2023 
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
WRITTEN OPTIONS — (0.2)%
Call Options Written — (0.2)%
(120
)
S&P 500 Weeklys
$(50,325,600
)
$4,110.00
11/03/23
$(1,096,800
)
(Premiums received $555,381)
 
 
Net Other Assets and Liabilities — 0.5%
2,403,087
Net Assets — 100.0%
$476,045,143
(a)
All or a portion of this security is held as collateral for the options written. At October 31, 2023, the value of these securities
amounts to $17,240,990.
(b)
Rate shown reflects yield as of October 31, 2023.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of October 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
ASSETS TABLE
 
Total
Value at
10/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$473,612,077
$473,612,077
$
$
Money Market Funds
1,126,779
1,126,779
Total Investments
$474,738,856
$474,738,856
$
$
LIABILITIES TABLE
 
Total
Value at
10/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(1,096,800
)
$(1,096,800
)
$
$
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 18

FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF (SDVD)
Portfolio of Investments
October 31, 2023 
Shares
Description
Value
COMMON STOCKS — 98.5%
Automobiles — 1.0%
619
Winnebago Industries, Inc. (a)
$35,871
Banks — 15.0%
984
Bank OZK (a)
35,237
1,748
Cadence Bank (a)
37,023
1,009
Cathay General Bancorp (a)
34,215
875
Comerica, Inc. (a)
34,475
1,630
Eagle Bancorp, Inc. (a)
31,752
692
East West Bancorp, Inc. (a)
37,105
2,756
First BanCorp (a)
36,793
860
International Bancshares Corp. (a)
37,694
1,272
OFG Bancorp (a)
37,677
1,682
Pacific Premier Bancorp, Inc. (a)
31,958
589
Popular, Inc. (a)
38,308
1,254
Synovus Financial Corp. (a)
32,692
2,034
Veritex Holdings, Inc. (a)
35,025
487
Wintrust Financial Corp. (a)
36,374
1,025
Zions Bancorp N.A. (a)
31,621
 
527,949
Building Products — 2.8%
313
Advanced Drainage Systems, Inc. (a)
33,438
277
Owens Corning (a)
31,403
368
UFP Industries, Inc. (a)
35,023
 
99,864
Capital Markets — 1.9%
263
Evercore, Inc., Class A (a)
34,237
569
Stifel Financial Corp. (a)
32,433
 
66,670
Chemicals — 1.0%
296
Westlake Corp. (a)
34,147
Commercial Services & Supplies — 1.0%
237
Tetra Tech, Inc. (a)
35,766
Communications Equipment — 1.0%
1,332
Juniper Networks, Inc. (a)
35,857
Construction & Engineering — 1.0%
448
AECOM (a)
34,294
Consumer Finance — 2.8%
1,294
Ally Financial, Inc. (a)
31,302
2,648
SLM Corp. (a)
34,424
1,154
Synchrony Financial (a)
32,370
 
98,096
Electrical Equipment — 1.7%
117
Hubbell, Inc. (a)
31,602
251
Regal Rexnord Corp. (a)
29,721
 
61,323
Electronic Equipment, Instruments & Components — 4.8%
361
Advanced Energy Industries, Inc. (a)
31,501
1,558
Benchmark Electronics, Inc. (a)
37,719
661
Crane NXT Co. (a)
34,372
See Notes to Financial Statements
Page 19

FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF (SDVD)
Portfolio of Investments (Continued)
October 31, 2023 
Shares
Description
Value
COMMON STOCKS (Continued)
Electronic Equipment, Instruments & Components (Continued)
149
Littelfuse, Inc. (a)
$32,284
1,507
Vishay Intertechnology, Inc. (a)
33,516
 
169,392
Financial Services — 5.9%
1,282
Equitable Holdings, Inc. (a)
34,063
765
Essent Group Ltd. (a)
36,138
932
Jackson Financial, Inc., Class A (a)
34,214
2,188
MGIC Investment Corp. (a)
36,846
1,454
Radian Group, Inc. (a)
36,844
457
Walker & Dunlop, Inc. (a)
29,614
 
207,719
Ground Transportation — 2.8%
203
Landstar System, Inc. (a)
33,450
1,840
Marten Transport Ltd. (a)
32,347
1,330
Schneider National, Inc., Class B (a)
33,689
 
99,486
Household Durables — 5.8%
544
Century Communities, Inc. (a)
33,456
1,222
Ethan Allen Interiors, Inc. (a)
32,090
1,164
La-Z-Boy, Inc. (a)
34,035
873
M.D.C. Holdings, Inc. (a)
33,130
496
PulteGroup, Inc. (a)
36,501
481
Toll Brothers, Inc. (a)
34,012
 
203,224
Insurance — 4.0%
332
American Financial Group, Inc. (a)
36,308
885
Fidelity National Financial, Inc. (a)
34,595
487
Principal Financial Group, Inc. (a)
32,960
776
Unum Group (a)
37,946
 
141,809
Leisure Products — 1.2%
744
Sturm Ruger & Co., Inc. (a)
41,180
Machinery — 7.0%
308
AGCO Corp. (a)
35,315
501
Graco, Inc. (a)
37,249
175
IDEX Corp. (a)
33,497
377
ITT, Inc. (a)
35,193
1,021
Mueller Industries, Inc. (a)
38,502
144
Snap-on, Inc. (a)
37,143
647
Terex Corp. (a)
29,633
 
246,532
Marine Transportation — 1.1%
436
Matson, Inc. (a)
37,954
Media — 2.0%
1,226
Interpublic Group of (The) Cos., Inc. (a)
34,819
485
Omnicom Group, Inc. (a)
36,331
 
71,150
See Notes to Financial Statements
Page 20

FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF (SDVD)
Portfolio of Investments (Continued)
October 31, 2023 
Shares
Description
Value
COMMON STOCKS (Continued)
Metals & Mining — 4.0%
153
Alpha Metallurgical Resources, Inc. (a)
$33,654
724
Commercial Metals Co. (a)
30,618
144
Reliance Steel & Aluminum Co. (a)
36,631
381
Steel Dynamics, Inc. (a)
40,580
 
141,483
Oil, Gas & Consumable Fuels — 9.4%
657
California Resources Corp. (a)
34,551
237
Chord Energy Corp. (a)
39,181
448
Civitas Resources, Inc. (a)
33,793
381
CONSOL Energy, Inc. (a)
35,010
903
EQT Corp. (a)
38,269
1,631
Magnolia Oil & Gas Corp., Class A (a)
36,616
612
Matador Resources Co. (a)
37,754
959
SM Energy Co. (a)
38,667
21
Texas Pacific Land Corp. (a)
38,765
 
332,606
Paper & Forest Products — 1.0%
648
Louisiana-Pacific Corp. (a)
33,229
Personal Care Products — 1.9%
276
Inter Parfums, Inc. (a)
35,082
468
Medifast, Inc. (a)
32,367
 
67,449
Professional Services — 4.1%
1,015
Genpact Ltd. (a)
34,043
383
Insperity, Inc. (a)
40,537
2,494
Resources Connection, Inc. (a)
33,594
503
Robert Half, Inc. (a)
37,609
 
145,783
Real Estate Management & Development — 1.0%
1,203
Marcus & Millichap, Inc. (a)
34,526
Semiconductors & Semiconductor Equipment — 3.8%
1,688
Amkor Technology, Inc. (a)
35,212
381
Skyworks Solutions, Inc. (a)
33,048
392
Teradyne, Inc. (a)
32,642
239
Universal Display Corp. (a)
33,264
 
134,166
Specialty Retail — 3.1%
517
Best Buy Co., Inc. (a)
34,546
1,119
Buckle (The), Inc. (a)
37,789
331
Dick’s Sporting Goods, Inc. (a)
35,400
 
107,735
Technology Hardware, Storage & Peripherals — 1.0%
483
NetApp, Inc. (a)
35,153
Textiles, Apparel & Luxury Goods — 3.3%
521
Columbia Sportswear Co. (a)
38,450
1,396
Movado Group, Inc. (a)
38,892
1,186
Steven Madden Ltd. (a)
38,889
 
116,231
See Notes to Financial Statements
Page 21

FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF (SDVD)
Portfolio of Investments (Continued)
October 31, 2023 
Shares
Description
Value
COMMON STOCKS (Continued)
Trading Companies & Distributors — 2.1%
380
Boise Cascade Co. (a)
$35,625
107
Watsco, Inc. (a)
37,331
 
72,956
Total Investments — 98.5%
3,469,600
(Cost $3,746,282)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
WRITTEN OPTIONS — (0.2)%
Call Options Written — (0.2)%
(15
)
Mini - Russell 2000 Index
$(249,342
)
$162.50
11/03/23
(7,538
)
(Premiums received $4,369)
 
 
Net Other Assets and Liabilities — 1.7%
60,240
Net Assets — 100.0%
$3,522,302
(a)
All or a portion of this security is held as collateral for the options written. At October 31, 2023, the value of these securities
amounts to $976,630.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of October 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
ASSETS TABLE
 
Total
Value at
10/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$3,469,600
$3,469,600
$
$
LIABILITIES TABLE
 
Total
Value at
10/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(7,538
)
$
$(7,538
)
$
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 22

FT Cboe Vest Technology Dividend Target Income ETF (TDVI)
Portfolio of Investments
October 31, 2023 
Shares
Description
Value
COMMON STOCKS — 98.9%
Communications Equipment — 6.0%
262
ADTRAN Holdings, Inc. (a)
$1,721
699
Cisco Systems, Inc. (a)
36,439
750
Juniper Networks, Inc. (a)
20,190
141
Motorola Solutions, Inc. (a)
39,263
1,541
Nokia OYJ, ADR (a)
5,101
65
Ubiquiti, Inc. (a)
7,894
 
110,608
Diversified Telecommunication Services — 7.1%
27
ATN International, Inc. (a)
836
946
BCE, Inc. (a)
35,125
201
Cogent Communications Holdings, Inc. (a)
13,061
863
Telefonica S.A., ADR (a)
3,305
140
Telkom Indonesia Persero Tbk PT, ADR (a)
3,080
2,282
TELUS Corp. (a)
36,786
1,145
Verizon Communications, Inc. (a)
40,224
 
132,417
Electronic Equipment, Instruments & Components — 5.4%
231
Amphenol Corp., Class A (a)
18,607
86
Avnet, Inc. (a)
3,984
4
Bel Fuse, Inc., Class B
217
38
Benchmark Electronics, Inc. (a)
920
59
CDW Corp. (a)
11,823
1,178
Corning, Inc. (a)
31,523
26
Methode Electronics, Inc. (a)
595
51
TD SYNNEX Corp. (a)
4,676
222
TE Connectivity Ltd. (a)
26,163
76
Vishay Intertechnology, Inc. (a)
1,690
 
100,198
Interactive Media & Services — 0.5%
56
Autohome, Inc., ADR
1,498
142
JOYY, Inc., ADR (a)
5,527
36
Shutterstock, Inc. (a)
1,464
 
8,489
IT Services — 10.5%
91
Amdocs Ltd. (a)
7,294
325
Cognizant Technology Solutions Corp., Class A (a)
20,953
21
Hackett Group (The), Inc. (a)
468
449
Infosys Ltd., ADR (a)
7,373
1,091
International Business Machines Corp. (a)
157,802
 
193,890
Media — 2.1%
8
Cable One, Inc. (a)
4,399
857
Comcast Corp., Class A (a)
35,385
 
39,784
Professional Services — 1.5%
38
Concentrix Corp. (a)
2,896
26
CSG Systems International, Inc. (a)
1,218
332
Dun & Bradstreet Holdings, Inc. (a)
2,908
See Notes to Financial Statements
Page 23

FT Cboe Vest Technology Dividend Target Income ETF (TDVI)
Portfolio of Investments (Continued)
October 31, 2023 
Shares
Description
Value
COMMON STOCKS (Continued)
Professional Services (Continued)
46
KBR, Inc. (a)
$2,675
84
Leidos Holdings, Inc. (a)
8,326
28
Science Applications International Corp. (a)
3,059
142
SS&C Technologies Holdings, Inc. (a)
7,136
 
28,218
Semiconductors & Semiconductor Equipment — 34.3%
100
Amkor Technology, Inc. (a)
2,086
366
Analog Devices, Inc. (a)
57,583
248
Applied Materials, Inc. (a)
32,823
33
ASML Holding N.V. (a)
19,761
174
Broadcom, Inc. (a)
146,398
58
KLA Corp. (a)
27,242
33
Kulicke & Soffa Industries, Inc. (a)
1,373
54
Lam Research Corp. (a)
31,764
375
Microchip Technology, Inc. (a)
26,734
297
Micron Technology, Inc. (a)
19,860
13
Monolithic Power Systems, Inc. (a)
5,743
192
NXP Semiconductors N.V. (a)
33,106
21
Power Integrations, Inc. (a)
1,456
700
QUALCOMM, Inc. (a)
76,293
150
Skyworks Solutions, Inc. (a)
13,011
954
Texas Instruments, Inc. (a)
135,477
430
United Microelectronics Corp., ADR (a)
3,062
16
Universal Display Corp. (a)
2,227
 
635,999
Software — 20.1%
47
A10 Networks, Inc. (a)
511
71
Adeia, Inc. (a)
599
31
Dolby Laboratories, Inc., Class A (a)
2,509
650
Gen Digital, Inc. (a)
10,829
34
InterDigital, Inc. (a)
2,558
66
Intuit, Inc. (a)
32,667
489
Microsoft Corp. (a)
165,336
270
Open Text Corp. (a)
9,018
31
Opera Ltd., ADR
359
1,245
Oracle Corp. (a)
128,733
21
Progress Software Corp. (a)
1,079
23
Roper Technologies, Inc. (a)
11,237
41
SAP SE, ADR
5,494
36
Sapiens International Corp. N.V. (a)
918
 
371,847
Technology Hardware, Storage & Peripherals — 7.0%
260
Dell Technologies, Inc., Class C (a)
17,397
1,503
Hewlett Packard Enterprise Co. (a)
23,116
1,418
HP, Inc. (a)
37,336
92
Logitech International S.A. (a)
7,234
224
NetApp, Inc. (a)
16,303
See Notes to Financial Statements
Page 24

FT Cboe Vest Technology Dividend Target Income ETF (TDVI)
Portfolio of Investments (Continued)
October 31, 2023 
Shares
Description
Value
COMMON STOCKS (Continued)
Technology Hardware, Storage & Peripherals (Continued)
338
Seagate Technology Holdings PLC (a)
$23,068
407
Xerox Holdings Corp. (a)
5,226
 
129,680
Wireless Telecommunication Services — 4.4%
667
America Movil SAB de C.V., ADR (a)
11,072
985
Rogers Communications, Inc., Class B (a)
36,504
282
Telephone and Data Systems, Inc.
5,130
3,145
Vodafone Group PLC, ADR
29,060
 
81,766
Total Investments — 98.9%
1,832,896
(Cost $1,978,616)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
WRITTEN OPTIONS — (0.2)%
Call Options Written — (0.2)%
(4
)
S&P 500® Mini Index
$(2,812
)
$411.00
11/03/23
(2,812
)
(Premiums received $1,829)
 
 
Net Other Assets and Liabilities — 1.3%
23,599
Net Assets — 100.0%
$1,853,683
(a)
All or a portion of this security is held as collateral for the options written. At October 31, 2023, the value of these securities
amounts to $988,184.
Abbreviations throughout the Portfolio of Investments:
ADR
American Depositary Receipt

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of October 31, 2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial Statements):
ASSETS TABLE
 
Total
Value at
10/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$1,832,896
$1,832,896
$
$
LIABILITIES TABLE
 
Total
Value at
10/31/2023
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(2,812
)
$(2,812
)
$
$
*
See Portfolio of Investments for industry breakout.
See Notes to Financial Statements
Page 25

First Trust Exchange-Traded Fund IV
Statements of Assets and Liabilities
October 31, 2023 
 
FT Cboe Vest
Rising Dividend
Achievers
Target Income
ETF
(RDVI)