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First Trust Exchange-Traded Fund IV - First Trust Tactical High Yield ETF is an exchange traded fund launched and managed by First Trust Advisors LP. The fund invests in the fixed income markets of the United States. It invests in below investment grade treasury and corporate debt obligations that are rated lower than BBB- by S&P and lower than Baa3 by Moody's. The fund employs long/short strategy to create its portfolio. The fund invests in securities with varying maturities. The fund employs fundamental analysis with a top-down securities picking approach to create its portfolio. It seeks to benchmarks the performance of its portfolio against the ICE BofA US High Yield Constrained Index. First Trust Exchange-Traded Fund IV - First Trust Tactical High Yield ETF was formed on February 25, 2013 and is domiciled in the United States.