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First Trust Exchange-Traded Fund IV - First Trust Senior Loan Fund is an exchange traded fund launched and managed by First Trust Advisors LP. The fund invests in the fixed income markets of North America. It invests in below investment grade lien senior floating rate bank loans that are rated below Ba1 and below by Moody's, BB+ and below by S&P and Fitch. The fund employs fundamental analysis with top-down securities picking approach to create its portfolio. It seeks to benchmark the performance of its portfolio against the Morningstar LSTA US Leveraged Loan Index. First Trust Exchange-Traded Fund IV - First Trust Senior Loan Fund was formed on May 1, 2013 and is domiciled in the United States.