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Name | Symbol | Market | Type |
---|---|---|---|
First Trust Global Tactical Commodity Strategy Fund | NASDAQ:FTGC | NASDAQ | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 23.91 | 23.77 | 23.99 | 0 | 12:50:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-22767
First Trust Exchange-Traded Fund VII
(Exact name of registrant as specified in charter)
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
(Address of principal executive offices) (Zip code)
W. Scott Jardine, Esq.
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
(Name and address of agent for service)
Registrant’s telephone number, including area code: (630) 765-8000
Date of fiscal year end: December 31
Date of reporting period: December 31, 2023
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Report to Stockholders.
(a) The registrant’s annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:
Annual Report
|
For the Year Ended
December 31, 2023
|
First Trust Global Tactical Commodity Strategy Fund
(FTGC)
|
1
|
|
2
|
|
4
|
|
6
|
|
7
|
|
9
|
|
10
|
|
11
|
|
12
|
|
13
|
|
20
|
|
21
|
|
26
|
|
28
|
Performance
|
|||||||
|
|
Average Annual Total Returns
|
Cumulative Total Returns
|
||||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(10/21/13)
to 12/31/23
|
5 Years
Ended
12/31/23
|
10 Years
Ended
12/31/23
|
Inception
(10/21/13)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
|
|
NAV
|
-5.01%
|
9.09%
|
-0.53%
|
-0.59%
|
54.50%
|
-5.13%
|
-5.83%
|
Market Price
|
-5.21%
|
9.04%
|
-0.54%
|
-0.60%
|
54.17%
|
-5.29%
|
-5.92%
|
Index Performance
|
|
|
|
|
|
|
|
Bloomberg Commodity Index
|
-7.91%
|
7.23%
|
-1.11%
|
-1.27%
|
41.77%
|
-10.57%
|
-12.20%
|
S&P GSCI® Total Return Index
|
-4.27%
|
8.72%
|
-3.60%
|
-3.58%
|
51.88%
|
-30.71%
|
-31.04%
|
S&P 500® Index
|
26.29%
|
15.69%
|
12.03%
|
12.41%
|
107.21%
|
211.49%
|
229.54%
|
Fund Allocation
|
% of
Net Assets
|
U.S. Government Bonds and Notes
|
45.4%
|
U.S. Treasury Bills
|
6.2
|
Money Market Funds
|
39.9
|
Net Other Assets and Liabilities*
|
8.5
|
Total
|
100.0%
|
*
|
Includes variation margin on futures contracts.
|
![]() |
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.
|
|
Beginning
Account Value
July 1, 2023
|
Ending
Account Value
December 31, 2023
|
Annualized
Expense Ratio
Based on the
Six-Month
Period
|
Expenses Paid
During the
Six-Month
Period (a)
|
First Trust Global Tactical Commodity Strategy Fund (FTGC)
|
||||
Actual
|
$1,000.00
|
$1,001.30
|
0.95%
|
$4.79
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,020.42
|
0.95%
|
$4.84
|
(a)
|
Expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value over
the period (July 1, 2023
through December 31, 2023), multiplied by 184/365 (to reflect the six-month period).
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
U.S. GOVERNMENT BONDS AND NOTES — 45.4%
|
|||||
$150,000,000
|
U.S. Treasury Note
|
0.25%
|
06/15/24
|
$146,727,841
|
|
150,000,000
|
U.S. Treasury Note
|
0.38%
|
09/15/24
|
145,270,589
|
|
175,000,000
|
U.S. Treasury Note
|
1.00%
|
12/15/24
|
168,766,605
|
|
170,000,000
|
U.S. Treasury Note
|
0.50%
|
03/31/25
|
161,662,695
|
|
150,000,000
|
U.S. Treasury Note
|
0.25%
|
06/30/25
|
140,912,109
|
|
185,000,000
|
U.S. Treasury Note
|
0.25%
|
09/30/25
|
172,313,769
|
|
170,000,000
|
U.S. Treasury Note
|
0.38%
|
11/30/25
|
157,890,820
|
|
|
Total U.S. Government Bonds and Notes
|
1,093,544,428
|
|||
|
(Cost $1,088,606,381)
|
|
|||
U.S. TREASURY BILLS — 6.2%
|
|||||
150,000,000
|
U.S. Treasury Bill
|
(a)
|
03/12/24
|
148,485,375
|
|
|
(Cost $148,454,419)
|
|
|
|
Shares
|
Description
|
Value
|
|||
MONEY MARKET FUNDS — 39.9%
|
|||||
479,489,436
|
Dreyfus Government Cash Management Fund, Institutional Shares - 5.25% (b)
|
479,489,436
|
|||
479,489,436
|
Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 5.22% (b)
|
479,489,436
|
|||
|
Total Money Market Funds
|
958,978,872
|
|||
|
(Cost $958,978,872)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 91.5%
|
2,201,008,675
|
|||
|
(Cost $2,196,039,672)
|
|
|||
|
Net Other Assets and Liabilities — 8.5%
|
204,032,084
|
|||
|
Net Assets — 100.0%
|
$2,405,040,759
|
Futures Contracts
|
Position
|
Number of
Contracts
|
Expiration
Date
|
Notional
Value
|
Unrealized
Appreciation
(Depreciation)/
Value
|
Brent Crude Oil Futures
|
Long
|
363
|
Jan-2024
|
$27,965,520
|
$(3,150,534
)
|
Brent Crude Oil Futures
|
Long
|
399
|
Feb-2024
|
30,687,090
|
(1,550,298
)
|
Cocoa Futures
|
Long
|
2,293
|
Mar-2024
|
96,214,280
|
360,909
|
Coffee “C” Futures
|
Long
|
2,017
|
Mar-2024
|
142,425,413
|
11,886,889
|
Copper Futures
|
Long
|
1,330
|
Mar-2024
|
129,359,125
|
5,927,951
|
Corn Futures
|
Long
|
2,596
|
Mar-2024
|
61,168,250
|
(2,431,930
)
|
Cotton No. 2 Futures
|
Long
|
1,313
|
Mar-2024
|
53,176,500
|
(1,280,280
)
|
Gasoline RBOB Futures
|
Long
|
1,772
|
Jan-2024
|
156,759,271
|
946,633
|
Gold 100 Oz. Futures
|
Long
|
1,101
|
Feb-2024
|
228,105,180
|
9,030,694
|
Kansas City Hard Red Winter Wheat
Futures
|
Long
|
1,757
|
Mar-2024
|
56,399,700
|
(402,694
)
|
Lean Hogs Futures
|
Long
|
701
|
Feb-2024
|
19,060,190
|
(2,012,820
)
|
Live Cattle Futures
|
Long
|
633
|
Feb-2024
|
42,664,200
|
(1,986,097
)
|
LME Aluminum Futures
|
Long
|
1,249
|
Mar-2024
|
74,346,725
|
4,612,778
|
LME Lead Futures
|
Long
|
486
|
Mar-2024
|
25,180,875
|
(1,299,169
)
|
LME Nickel Futures
|
Long
|
560
|
Mar-2024
|
55,752,480
|
102,795
|
LME Zinc Futures
|
Long
|
602
|
Mar-2024
|
40,085,675
|
1,981,453
|
Low Sulphur Gasoil “G” Futures
|
Long
|
976
|
Feb-2024
|
72,443,600
|
(3,096,474
)
|
Low Sulphur Gasoil “G” Futures
|
Long
|
760
|
Mar-2024
|
55,841,000
|
(3,364,926
)
|
Futures Contracts
|
Position
|
Number of
Contracts
|
Expiration
Date
|
Notional
Value
|
Unrealized
Appreciation
(Depreciation)/
Value
|
Natural Gas Futures
|
Long
|
3,742
|
Jan-2024
|
$94,073,880
|
$(6,922,210
)
|
NY Harbor ULSD Futures
|
Long
|
723
|
Jan-2024
|
76,792,577
|
(6,552,384
)
|
NY Harbor ULSD Futures
|
Long
|
731
|
Feb-2024
|
76,607,630
|
(3,960,434
)
|
Silver Futures
|
Long
|
684
|
Mar-2024
|
82,374,120
|
1,216,289
|
Soybean Futures
|
Long
|
1,562
|
Mar-2024
|
101,373,800
|
(2,853,708
)
|
Soybean Meal Futures
|
Long
|
2,650
|
Mar-2024
|
102,290,000
|
(6,792,064
)
|
Soybean Meal Futures
|
Long
|
1,744
|
May-2024
|
67,109,120
|
(3,263,054
)
|
Soybean Oil Futures
|
Long
|
897
|
Mar-2024
|
25,930,476
|
(1,162,699
)
|
Soybean Oil Futures
|
Long
|
1,450
|
May-2024
|
42,255,900
|
(2,390,695
)
|
Soybean Oil Futures
|
Long
|
555
|
Jul-2024
|
16,267,050
|
(508,732
)
|
Sugar #11 (World) Futures
|
Long
|
5,608
|
Feb-2024
|
129,262,157
|
(28,358,899
)
|
Wheat Futures
|
Long
|
2,031
|
Mar-2024
|
63,773,400
|
1,672,948
|
WTI Crude Futures
|
Long
|
221
|
Jan-2024
|
15,834,650
|
(1,167,883
)
|
WTI Crude Futures
|
Long
|
438
|
Feb-2024
|
31,465,920
|
(4,228,364
)
|
|
|
|
|
$2,293,045,754
|
$(50,997,009
)
|
(a)
|
Zero coupon security.
|
(b)
|
Rate shown reflects yield as of December 31, 2023.
|
ASSETS TABLE
|
||||
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
U.S. Government Bonds and Notes
|
$1,093,544,428
|
$—
|
$1,093,544,428
|
$—
|
U.S. Treasury Bills
|
148,485,375
|
—
|
148,485,375
|
—
|
Money Market Funds
|
958,978,872
|
958,978,872
|
—
|
—
|
Total Investments
|
2,201,008,675
|
958,978,872
|
1,242,029,803
|
—
|
Futures Contracts*
|
39,599,045
|
39,599,045
|
—
|
—
|
Total
|
$2,240,607,720
|
$998,577,917
|
$1,242,029,803
|
$—
|
LIABILITIES TABLE
|
||||
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Futures Contracts*
|
$(90,596,054
)
|
$(90,596,054
)
|
$—
|
$—
|
*
|
Includes cumulative appreciation/depreciation on futures contracts as reported in the Futures Contracts table. Only the current day’s
variation margin is presented on the Consolidated Statement of Assets and Liabilities.
|
ASSETS:
|
|
Investments, at value
|
$2,201,008,675
|
Cash segregated as collateral for open futures contracts
|
245,060,108
|
Receivables:
|
|
Dividends
|
4,664,230
|
Interest
|
843,370
|
Capital shares sold
|
4,718
|
Total Assets
|
2,451,581,101
|
|
|
LIABILITIES:
|
|
Payables:
|
|
Variation margin
|
28,754,512
|
Capital shares redeemed
|
15,726,601
|
Investment advisory fees
|
2,059,229
|
Total Liabilities
|
46,540,342
|
NET ASSETS
|
$2,405,040,759
|
|
|
NET ASSETS consist of:
|
|
Paid-in capital
|
$2,494,654,567
|
Par value
|
1,070,533
|
Accumulated distributable earnings (loss)
|
(90,684,341
)
|
NET ASSETS
|
$2,405,040,759
|
NET ASSET VALUE, per share
|
$22.47
|
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share)
|
107,053,334
|
Investments, at cost
|
$2,196,039,672
|
INVESTMENT INCOME:
|
|
Interest
|
$77,411,559
|
Dividends
|
57,757,542
|
Total investment income
|
135,169,101
|
|
|
EXPENSES:
|
|
Investment advisory fees
|
26,968,057
|
Total expenses
|
26,968,057
|
NET INVESTMENT INCOME (LOSS)
|
108,201,044
|
|
|
NET REALIZED AND UNREALIZED GAIN (LOSS):
|
|
Net realized gain (loss) on:
|
|
Investments
|
(60,457
)
|
Futures contracts
|
(164,480,805
)
|
Net realized gain (loss)
|
(164,541,262
)
|
Net change in unrealized appreciation (depreciation) on:
|
|
Investments
|
4,578,787
|
Futures contracts
|
(122,109,271
)
|
Net change in unrealized appreciation (depreciation)
|
(117,530,484
)
|
NET REALIZED AND UNREALIZED GAIN (LOSS)
|
(282,071,746
)
|
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS
|
$(173,870,702
)
|
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
OPERATIONS:
|
|
|
Net investment income (loss)
|
$108,201,044
|
$19,079,378
|
Net realized gain (loss)
|
(164,541,262
)
|
198,246,266
|
Net change in unrealized appreciation (depreciation)
|
(117,530,484
)
|
45,214,928
|
Net increase (decrease) in net assets resulting from operations
|
(173,870,702
)
|
262,540,572
|
|
||
DISTRIBUTIONS TO SHAREHOLDERS FROM:
|
|
|
Investment operations
|
(86,724,096
)
|
(355,942,657
)
|
|
||
SHAREHOLDER TRANSACTIONS:
|
|
|
Proceeds from shares sold
|
430,212,741
|
2,714,257,172
|
Cost of shares redeemed
|
(1,140,520,073
)
|
(1,224,296,838
)
|
Net increase (decrease) in net assets resulting from shareholder transactions
|
(710,307,332
)
|
1,489,960,334
|
Total increase (decrease) in net assets
|
(970,902,130
)
|
1,396,558,249
|
|
||
NET ASSETS:
|
|
|
Beginning of period
|
3,375,942,889
|
1,979,384,640
|
End of period
|
$2,405,040,759
|
$3,375,942,889
|
|
||
CHANGES IN SHARES OUTSTANDING:
|
|
|
Shares outstanding, beginning of period
|
138,203,334
|
86,003,334
|
Shares sold
|
18,200,000
|
98,950,000
|
Shares redeemed
|
(49,350,000
)
|
(46,750,000
)
|
Shares outstanding, end of period
|
107,053,334
|
138,203,334
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$24.43
|
$23.02
|
$19.27
|
$18.94
|
$17.92
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
0.90
(a)
|
0.13
(a)
|
(0.22
) (a)
|
(0.14
)
|
0.26
|
Net realized and unrealized gain (loss)
|
(2.11
)
|
3.82
|
5.63
|
0.47
|
0.91
|
Total from investment operations
|
(1.21
)
|
3.95
|
5.41
|
0.33
|
1.17
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(0.75
)
|
(2.54
)
|
(1.66
)
|
—
|
(0.15
)
|
Net asset value, end of period
|
$22.47
|
$24.43
|
$23.02
|
$19.27
|
$18.94
|
Total return (b)
|
(5.01
)%
|
17.14
%
|
28.09
%
|
1.74
%
|
6.55
%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$2,405,041
|
$3,375,943
|
$1,979,385
|
$238,039
|
$163,876
|
Ratio of total expenses to average net assets
|
0.95
%
|
0.95
%
|
0.95
%
|
0.95
%
|
0.95
%
|
Ratio of net investment income (loss) to average net
assets
|
3.80
%
|
0.48
%
|
(0.94
)%
|
(0.54
)%
|
1.13
%
|
Portfolio turnover rate (c)
|
0
%
|
0
%
|
0
%
|
0
%
|
0
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. 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.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions, derivatives and in-kind transactions.
|
Distributions paid from:
|
2023
|
2022
|
Ordinary income
|
$86,724,096
|
$355,942,657
|
Capital gains
|
—
|
—
|
Return of capital
|
—
|
—
|
Undistributed ordinary income
|
$2,028,055
|
Accumulated capital and other gain (loss)
|
(22,709,770
)
|
Net unrealized appreciation (depreciation)
|
(23,378,693
)
|
Accumulated
Net Investment
Income (Loss)
|
Accumulated
Net Realized
Gain (Loss)
|
Paid-In
Capital
|
$(557,016
)
|
$164,480,805
|
$(163,923,789
)
|
Tax Cost
|
Gross
Unrealized
Appreciation
|
Gross
Unrealized
(Depreciation)
|
Net Unrealized
Appreciation
(Depreciation)
|
$2,173,390,359
|
$42,708,342
|
$(66,087,035
)
|
$(23,378,693
)
|
Breakpoints
|
|
Fund net assets up to and including $2.5 billion
|
0.95000
%
|
Fund net assets greater than $2.5 billion up to and including $5 billion
|
0.92625
%
|
Fund net assets greater than $5 billion up to and including $7.5 billion
|
0.90250
%
|
Fund net assets greater than $7.5 billion up to and including $10 billion
|
0.87875
%
|
Fund net assets greater than $10 billion
|
0.85500
%
|
|
|
Asset Derivatives
|
Liability Derivatives
|
||
Derivative
Instrument
|
Risk
Exposure
|
Consolidated
Statement of Assets and
Liabilities Location
|
Value
|
Consolidated
Statement of Assets and
Liabilities Location
|
Value
|
Futures contracts
|
Commodity Risk
|
Unrealized appreciation on
futures contracts*
|
$37,739,339
|
Unrealized depreciation on
futures contracts*
|
$88,736,348
|
*
|
Includes cumulative appreciation/depreciation on futures contracts as reported in the Fund’s Consolidated Portfolio of Investments.
Only the current day’s variation margin is presented on the Consolidated Statement of Assets and Liabilities.
|
|
|
Consolidated Statement of Operations Location
|
|
Commodity Risk Exposure
|
|
Net realized gain (loss) on futures contracts
|
$(164,480,805
)
|
Net change in unrealized appreciation (depreciation) on
futures contracts
|
(122,109,271
)
|
Dividend Received Deduction
|
Qualified Dividend Income
|
0.00
%
|
0.00
%
|
Name,
Year of Birth and
Position with the 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 Past
5 Years
|
INDEPENDENT TRUSTEES
|
||||
Richard E. Erickson, Trustee
(1951)
|
• Indefinite Term
• Since Inception
|
Retired; Physician, Edward-Elmhurst
Medical Group (2021 to September
2023); Physician and Officer,
Wheaton Orthopedics (1990 to 2021)
|
257
|
None
|
Thomas R. Kadlec, Trustee
(1957)
|
• Indefinite Term
• Since Inception
|
Retired; President, ADM Investors
Services, Inc. (Futures Commission
Merchant) (2010 to July 2022)
|
257
|
Director, National Futures
Association and ADMIS
Singapore Ltd.; Formerly,
Director of ADM Investor
Services, Inc., ADM Investor
Services International,
ADMIS Hong Kong Ltd., and
Futures Industry Association
|
Denise M. Keefe, Trustee
(1964)
|
• Indefinite Term
• Since 2021
|
Executive Vice President, Advocate
Aurora Health and President,
Advocate Aurora Continuing Health
Division (Integrated Healthcare
System)
|
257
|
Director and Board Chair of
Advocate Home Health
Services, Advocate Home
Care Products and Advocate
Hospice; Director and Board
Chair of Aurora At Home
(since 2018); Director of
Advocate Physician Partners
Accountable Care
Organization; Director of
RML Long Term Acute Care
Hospitals; Director of Senior
Helpers (since 2021); and
Director of MobileHelp
(since 2022)
|
Robert F. Keith, Trustee
(1956)
|
• Indefinite Term
• Since Inception
|
President, Hibs Enterprises (Financial
and Management Consulting)
|
257
|
Formerly, Director of Trust
Company of Illinois
|
Niel B. Nielson, Trustee
(1954)
|
• Indefinite Term
• Since Inception
|
Senior Advisor (2018 to Present),
Managing Director and Chief
Operating Officer (2015 to 2018),
Pelita Harapan Educational
Foundation (Educational Products
and Services)
|
257
|
None
|
Bronwyn Wright, Trustee
(1971)
|
• Indefinite Term
• Since 2023
|
Independent Director to a number of
Irish collective investment funds
(2009 to Present); Various roles at
international affiliates of Citibank
(1994 to 2009), including Managing
Director, Citibank Europe plc and
Head of Securities and Fund Services,
Citi Ireland (2007 to 2009)
|
233
|
None
|
Name,
Year of Birth and
Position with the 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 Past
5 Years
|
INTERESTED TRUSTEE
|
||||
James A. Bowen(1), Trustee,
Chairman of the Board
(1955)
|
• 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)
|
257
|
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(2)
|
|||
James M. Dykas
(1966)
|
President and Chief
Executive Officer
|
• Indefinite Term
• Since 2016
|
Managing Director and Chief Financial Officer, First Trust
Advisors L.P. and First Trust Portfolios L.P.; Chief Financial
Officer, BondWave LLC (Software Development Company) and
Stonebridge Advisors LLC (Investment Advisor)
|
Derek D. Maltbie
(1972)
|
Treasurer, Chief Financial
Officer and Chief
Accounting Officer
|
• Indefinite Term
• Since 2023
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P., July 2021 to Present. Previously, Vice President,
First Trust Advisors L.P. and First Trust Portfolios L.P., 2014 -
2021.
|
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;
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.
|
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.
|
Annual Report
|
For the Year Ended
December 31, 2023
|
First Trust Alternative Absolute Return Strategy ETF (FAAR)
|
1
|
|
2
|
|
4
|
|
6
|
|
7
|
|
9
|
|
10
|
|
11
|
|
12
|
|
13
|
|
20
|
|
21
|
|
26
|
|
28
|
Performance
|
|||||
|
|
Average Annual Total
Returns
|
Cumulative Total Returns
|
||
|
1 Year
Ended
12/31/23
|
5 Years
Ended
12/31/23
|
Inception
(5/18/16)
to 12/31/23
|
5 Years
Ended
12/31/23
|
Inception
(5/18/16)
to 12/31/23
|
Fund Performance
|
|
|
|
|
|
NAV
|
-5.79%
|
4.51%
|
1.71%
|
24.69%
|
13.82%
|
Market Price
|
-5.85%
|
4.47%
|
1.71%
|
24.44%
|
13.80%
|
Index Performance
|
|
|
|
|
|
3 Month U.S. Treasury Bills + 3%
|
8.20%
|
4.98%
|
4.71%
|
27.50%
|
42.06%
|
Bloomberg Commodity Index
|
-7.91%
|
7.23%
|
3.65%
|
41.77%
|
31.43%
|
S&P 500® Index
|
26.29%
|
15.69%
|
13.77%
|
107.21%
|
167.40%
|
Fund Allocation
|
% of
Net Assets
|
U.S. Government Bonds and Notes
|
51.6%
|
U.S. Treasury Bills
|
7.6
|
Money Market Funds
|
34.5
|
Net Other Assets and Liabilities*
|
6.3
|
Total
|
100.0%
|
*
|
Includes variation margin on futures contracts.
|
![]() |
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.
|
|
Beginning
Account Value
July 1, 2023
|
Ending
Account Value
December 31, 2023
|
Annualized
Expense Ratio
Based on the
Six-Month
Period
|
Expenses Paid
During the
Six-Month
Period (a)
|
First Trust Alternative Absolute Return Strategy ETF (FAAR)
|
||||
Actual
|
$1,000.00
|
$984.30
|
0.95%
|
$4.75
|
Hypothetical (5% return before expenses)
|
$1,000.00
|
$1,020.42
|
0.95%
|
$4.84
|
(a)
|
Expenses are equal to the annualized expense ratio as indicated in the table multiplied by the average account value over
the period (July 1, 2023
through December 31, 2023), multiplied by 184/365 (to reflect the six-month period).
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
U.S. GOVERNMENT BONDS AND NOTES — 51.6%
|
|||||
$12,000,000
|
U.S. Treasury Note
|
0.25%
|
06/15/24
|
$11,738,227
|
|
12,000,000
|
U.S. Treasury Note
|
0.38%
|
09/15/24
|
11,621,647
|
|
12,000,000
|
U.S. Treasury Note
|
1.00%
|
12/15/24
|
11,572,567
|
|
12,000,000
|
U.S. Treasury Note
|
0.50%
|
03/31/25
|
11,411,485
|
|
12,000,000
|
U.S. Treasury Note
|
0.25%
|
06/30/25
|
11,272,969
|
|
13,000,000
|
U.S. Treasury Note
|
0.25%
|
09/30/25
|
12,108,535
|
|
12,000,000
|
U.S. Treasury Note
|
0.38%
|
11/30/25
|
11,145,234
|
|
|
Total U.S. Government Bonds and Notes
|
80,870,664
|
|||
|
(Cost $80,478,944)
|
|
|||
U.S. TREASURY BILLS — 7.6%
|
|||||
12,000,000
|
U.S. Treasury Bill
|
(a)
|
03/12/24
|
11,878,830
|
|
|
(Cost $11,876,354)
|
|
|
|
Shares
|
Description
|
Value
|
|||
MONEY MARKET FUNDS — 34.5%
|
|||||
27,094,886
|
Dreyfus Government Cash Management Fund, Institutional Shares - 5.25% (b)
|
27,094,886
|
|||
27,094,886
|
Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 5.22% (b)
|
27,094,886
|
|||
|
Total Money Market Funds
|
54,189,772
|
|||
|
(Cost $54,189,772)
|
|
|||
|
|||||
|
|||||
|
Total Investments — 93.7%
|
146,939,266
|
|||
|
(Cost $146,545,070)
|
|
|||
|
Net Other Assets and Liabilities — 6.3%
|
9,928,978
|
|||
|
Net Assets — 100.0%
|
$156,868,244
|
Futures Contracts
|
Position
|
Number of
Contracts
|
Expiration
Date
|
Notional
Value
|
Unrealized
Appreciation
(Depreciation)/
Value
|
Cocoa Futures
|
Long
|
67
|
Mar-2024
|
$2,811,320
|
$96,389
|
Coffee “C” Futures
|
Long
|
40
|
Mar-2024
|
2,824,500
|
22,116
|
Gasoline RBOB Futures
|
Long
|
59
|
Jan-2024
|
5,219,411
|
28,332
|
Gold 100 Oz. Futures
|
Long
|
15
|
Feb-2024
|
3,107,700
|
96,014
|
Live Cattle Futures
|
Long
|
50
|
Feb-2024
|
3,370,000
|
(154,358
)
|
LME Lead Futures
|
Long
|
12
|
Mar-2024
|
621,750
|
(27,900
)
|
Low Sulphur Gasoil “G” Futures
|
Long
|
130
|
Feb-2024
|
9,649,250
|
(220,673
)
|
NY Harbor ULSD Futures
|
Long
|
60
|
Jan-2024
|
6,372,828
|
(285,245
)
|
Soybean Meal Futures
|
Long
|
199
|
Mar-2024
|
7,681,400
|
(285,117
)
|
Brent Crude Oil Futures
|
Short
|
25
|
Jan-2024
|
(1,926,000
)
|
69,892
|
Cattle Feeder Futures
|
Short
|
35
|
Mar-2024
|
(3,904,250
)
|
17,388
|
Copper Futures
|
Short
|
8
|
Mar-2024
|
(778,100
)
|
(22,400
)
|
Corn Futures
|
Short
|
568
|
Mar-2024
|
(13,383,500
)
|
275,697
|
Cotton No. 2 Futures
|
Short
|
210
|
Mar-2024
|
(8,505,000
)
|
(91,694
)
|
Kansas City Hard Red Winter Wheat
Futures
|
Short
|
133
|
Mar-2024
|
(4,269,300
)
|
(12,940
)
|
Lean Hogs Futures
|
Short
|
128
|
Feb-2024
|
(3,480,320
)
|
(29,300
)
|
LME Aluminium Futures
|
Short
|
137
|
Mar-2024
|
(8,154,925
)
|
(556,098
)
|
LME Nickel Futures
|
Short
|
28
|
Mar-2024
|
(2,787,624
)
|
(67,812
)
|
Futures Contracts
|
Position
|
Number of
Contracts
|
Expiration
Date
|
Notional
Value
|
Unrealized
Appreciation
(Depreciation)/
Value
|
LME Zinc Futures
|
Short
|
38
|
Mar-2024
|
$(2,530,325
)
|
$(161,630
)
|
Natural Gas Futures
|
Short
|
298
|
Jan-2024
|
(7,491,720
)
|
(264,680
)
|
Silver Futures
|
Short
|
55
|
Mar-2024
|
(6,623,650
)
|
42,563
|
Soybean Futures
|
Short
|
23
|
Mar-2024
|
(1,492,700
)
|
25,763
|
Soybean Oil Futures
|
Short
|
17
|
Mar-2024
|
(491,436
)
|
(78
)
|
Sugar #11 (World) Futures
|
Short
|
159
|
Feb-2024
|
(3,664,886
)
|
85,543
|
Wheat Futures
|
Short
|
344
|
Mar-2024
|
(10,801,600
)
|
(365,381
)
|
WTI Crude Futures
|
Short
|
151
|
Jan-2024
|
(10,819,150
)
|
260,461
|
|
|
|
|
$(49,446,327
)
|
$(1,525,148
)
|
(a)
|
Zero coupon security.
|
(b)
|
Rate shown reflects yield as of December 31, 2023.
|
ASSETS TABLE
|
||||
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
U.S. Government Bonds and Notes
|
$80,870,664
|
$—
|
$80,870,664
|
$—
|
U.S. Treasury Bills
|
11,878,830
|
—
|
11,878,830
|
—
|
Money Market Funds
|
54,189,772
|
54,189,772
|
—
|
—
|
Total Investments
|
146,939,266
|
54,189,772
|
92,749,494
|
—
|
Futures Contracts*
|
1,020,158
|
1,020,158
|
—
|
—
|
Total
|
$147,959,424
|
$55,209,930
|
$92,749,494
|
$—
|
LIABILITIES TABLE
|
||||
|
Total
Value at
12/31/2023
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
Futures Contracts*
|
$(2,545,306
)
|
$(2,545,306
)
|
$—
|
$—
|
*
|
Includes cumulative appreciation/depreciation on futures contracts as reported in the Futures Contracts table. Only the current day’s
variation margin is presented on the Consolidated Statement of Assets and Liabilities.
|
ASSETS:
|
|
Investments, at value
|
$146,939,266
|
Cash segregated as collateral for open futures contracts
|
8,314,160
|
Receivables:
|
|
Capital shares sold
|
1,364,517
|
Dividends
|
259,565
|
Interest
|
62,840
|
Variation margin
|
55,745
|
Total Assets
|
156,996,093
|
|
|
LIABILITIES:
|
|
Investment advisory fees payable
|
127,849
|
Total Liabilities
|
127,849
|
NET ASSETS
|
$156,868,244
|
|
|
NET ASSETS consist of:
|
|
Paid-in capital
|
$160,041,709
|
Par value
|
57,500
|
Accumulated distributable earnings (loss)
|
(3,230,965
)
|
NET ASSETS
|
$156,868,244
|
NET ASSET VALUE, per share
|
$27.28
|
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share)
|
5,750,002
|
Investments, at cost
|
$146,545,070
|
INVESTMENT INCOME:
|
|
Interest
|
$5,434,101
|
Dividends
|
3,162,454
|
Total investment income
|
8,596,555
|
|
|
EXPENSES:
|
|
Investment advisory fees
|
1,734,233
|
Total expenses
|
1,734,233
|
NET INVESTMENT INCOME (LOSS)
|
6,862,322
|
|
|
NET REALIZED AND UNREALIZED GAIN (LOSS):
|
|
Net realized gain (loss) on:
|
|
Investments
|
(14,968
)
|
Futures contracts
|
(12,629,467
)
|
Net realized gain (loss)
|
(12,644,435
)
|
Net change in unrealized appreciation (depreciation) on:
|
|
Investments
|
371,477
|
Futures contracts
|
(5,147,049
)
|
Net change in unrealized appreciation (depreciation)
|
(4,775,572
)
|
NET REALIZED AND UNREALIZED GAIN (LOSS)
|
(17,420,007
)
|
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS
|
$(10,557,685
)
|
|
Year
Ended
12/31/2023
|
Year
Ended
12/31/2022
|
OPERATIONS:
|
|
|
Net investment income (loss)
|
$6,862,322
|
$1,091,223
|
Net realized gain (loss)
|
(12,644,435
)
|
5,370,123
|
Net change in unrealized appreciation (depreciation)
|
(4,775,572
)
|
3,444,705
|
Net increase (decrease) in net assets resulting from operations
|
(10,557,685
)
|
9,906,051
|
|
||
DISTRIBUTIONS TO SHAREHOLDERS FROM:
|
|
|
Investment operations
|
(5,353,372
)
|
(11,734,498
)
|
|
||
SHAREHOLDER TRANSACTIONS:
|
|
|
Proceeds from shares sold
|
5,798,426
|
104,591,601
|
Cost of shares redeemed
|
(40,573,915
)
|
(12,976,045
)
|
Net increase (decrease) in net assets resulting from shareholder transactions
|
(34,775,489
)
|
91,615,556
|
Total increase (decrease) in net assets
|
(50,686,546
)
|
89,787,109
|
|
||
NET ASSETS:
|
|
|
Beginning of period
|
207,554,790
|
117,767,681
|
End of period
|
$156,868,244
|
$207,554,790
|
|
||
CHANGES IN SHARES OUTSTANDING:
|
|
|
Shares outstanding, beginning of period
|
6,950,002
|
4,100,002
|
Shares sold
|
200,000
|
3,250,000
|
Shares redeemed
|
(1,400,000
)
|
(400,000
)
|
Shares outstanding, end of period
|
5,750,002
|
6,950,002
|
|
Year Ended December 31,
|
||||
|
2023
|
2022
|
2021
|
2020
|
2019
|
Net asset value, beginning of period
|
$29.86
|
$28.72
|
$26.95
|
$25.88
|
$26.48
|
Income from investment operations:
|
|
|
|
|
|
Net investment income (loss)
|
1.09
(a)
|
0.20
(a)
|
(0.28
) (a)
|
(0.18
) (a)
|
0.36
|
Net realized and unrealized gain (loss)
|
(2.80
)
|
2.68
|
3.92
|
2.08
|
(0.70
)
|
Total from investment operations
|
(1.71
)
|
2.88
|
3.64
|
1.90
|
(0.34
)
|
Distributions paid to shareholders from:
|
|
|
|
|
|
Net investment income
|
(0.87
)
|
(1.74
)
|
(1.87
)
|
(0.83
)
|
(0.26
)
|
Net asset value, end of period
|
$27.28
|
$29.86
|
$28.72
|
$26.95
|
$25.88
|
Total return (b)
|
(5.79
)%
|
10.02
%
|
13.49
%
|
7.35
%
|
(1.27
)%
|
|
|||||
Ratios to average net assets/supplemental data:
|
|
|
|
|
|
Net assets, end of period (in 000’s)
|
$156,868
|
$207,555
|
$117,768
|
$59,298
|
$25,879
|
Ratio of total expenses to average net assets
|
0.95
%
|
0.95
%
|
0.95
%
|
0.95
%
|
0.95
%
|
Ratio of net investment income (loss) to average net assets
|
3.76
%
|
0.61
%
|
(0.95
)%
|
(0.68
)%
|
0.88
%
|
Portfolio turnover rate (c)
|
0
%
|
0
%
|
0
%
|
0
%
|
0
%
|
(a)
|
Based on average shares outstanding.
|
(b)
|
Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment
of all
distributions at net asset value during the period, and redemption at net asset value on the last day of the period. 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.
Total return is
calculated for the time period presented and is not annualized for periods of less than a year.
|
(c)
|
Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does
not include securities
received or delivered from processing creations or redemptions, derivatives and in-kind transactions.
|
Distributions paid from:
|
2023
|
2022
|
Ordinary income
|
$5,353,372
|
$11,734,498
|
Capital gains
|
—
|
—
|
Return of capital
|
—
|
—
|
Undistributed ordinary income
|
$119,634
|
Accumulated capital and other gain (loss)
|
1,483,575
|
Net unrealized appreciation (depreciation)
|
(2,621,030
)
|
Accumulated
Net Investment
Income (Loss)
|
Accumulated
Net Realized
Gain (Loss)
|
Paid-In
Capital
|
$(2,796,881
)
|
$12,637,932
|
$(9,841,051
)
|
Tax Cost
|
Gross
Unrealized
Appreciation
|
Gross
Unrealized
(Depreciation)
|
Net Unrealized
Appreciation
(Depreciation)
|
$148,035,148
|
$1,320,036
|
$(3,941,066
)
|
$(2,621,030
)
|
Breakpoints
|
|
Fund net assets up to and including $2.5 billion
|
0.95000
%
|
Fund net assets greater than $2.5 billion up to and including $5 billion
|
0.92625
%
|
Fund net assets greater than $5 billion up to and including $7.5 billion
|
0.90250
%
|
Fund net assets greater than $7.5 billion up to and including $10 billion
|
0.87875
%
|
Fund net assets greater than $10 billion
|
0.85500
%
|
|
|
Asset Derivatives
|
Liability Derivatives
|
||
Derivative
Instrument
|
Risk
Exposure
|
Consolidated
Statement of Assets and
Liabilities Location
|
Value
|
Consolidated
Statement of Assets and
Liabilities Location
|
Value
|
Futures contracts
|
Commodity Risk
|
Unrealized appreciation on
futures contracts*
|
$1,020,158
|
Unrealized depreciation on
futures contracts*
|
$2,545,306
|
*
|
Includes cumulative appreciation/depreciation on futures contracts as reported in the Fund’s Consolidated Portfolio of Investments.
Only the current day’s variation margin is presented on the Consolidated Statement of Assets and Liabilities.
|
|
|
Consolidated Statement of Operations Location
|
|
Commodity Risk Exposure
|
|
Net realized gain (loss) on futures contracts
|
$(12,629,467
)
|
Net change in unrealized appreciation (depreciation) on
futures contracts
|
(5,147,049
)
|
Dividend Received Deduction
|
Qualified Dividend Income
|
0.00
%
|
0.00
%
|
Name,
Year of Birth and
Position with the 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 Past
5 Years
|
INDEPENDENT TRUSTEES
|
||||
Richard E. Erickson, Trustee
(1951)
|
• Indefinite Term
• Since Inception
|
Retired; Physician, Edward-Elmhurst
Medical Group (2021 to September
2023); Physician and Officer,
Wheaton Orthopedics (1990 to 2021)
|
257
|
None
|
Thomas R. Kadlec, Trustee
(1957)
|
• Indefinite Term
• Since Inception
|
Retired; President, ADM Investors
Services, Inc. (Futures Commission
Merchant) (2010 to July 2022)
|
257
|
Director, National Futures
Association and ADMIS
Singapore Ltd.; Formerly,
Director of ADM Investor
Services, Inc., ADM Investor
Services International,
ADMIS Hong Kong Ltd., and
Futures Industry Association
|
Denise M. Keefe, Trustee
(1964)
|
• Indefinite Term
• Since 2021
|
Executive Vice President, Advocate
Aurora Health and President,
Advocate Aurora Continuing Health
Division (Integrated Healthcare
System)
|
257
|
Director and Board Chair of
Advocate Home Health
Services, Advocate Home
Care Products and Advocate
Hospice; Director and Board
Chair of Aurora At Home
(since 2018); Director of
Advocate Physician Partners
Accountable Care
Organization; Director of
RML Long Term Acute Care
Hospitals; Director of Senior
Helpers (since 2021); and
Director of MobileHelp
(since 2022)
|
Robert F. Keith, Trustee
(1956)
|
• Indefinite Term
• Since Inception
|
President, Hibs Enterprises (Financial
and Management Consulting)
|
257
|
Formerly, Director of Trust
Company of Illinois
|
Niel B. Nielson, Trustee
(1954)
|
• Indefinite Term
• Since Inception
|
Senior Advisor (2018 to Present),
Managing Director and Chief
Operating Officer (2015 to 2018),
Pelita Harapan Educational
Foundation (Educational Products
and Services)
|
257
|
None
|
Bronwyn Wright, Trustee
(1971)
|
• Indefinite Term
• Since 2023
|
Independent Director to a number of
Irish collective investment funds
(2009 to Present); Various roles at
international affiliates of Citibank
(1994 to 2009), including Managing
Director, Citibank Europe plc and
Head of Securities and Fund Services,
Citi Ireland (2007 to 2009)
|
233
|
None
|
Name,
Year of Birth and
Position with the 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 Past
5 Years
|
INTERESTED TRUSTEE
|
||||
James A. Bowen(1), Trustee,
Chairman of the Board
(1955)
|
• 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)
|
257
|
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(2)
|
|||
James M. Dykas
(1966)
|
President and Chief
Executive Officer
|
• Indefinite Term
• Since 2016
|
Managing Director and Chief Financial Officer, First Trust
Advisors L.P. and First Trust Portfolios L.P.; Chief Financial
Officer, BondWave LLC (Software Development Company) and
Stonebridge Advisors LLC (Investment Advisor)
|
Derek D. Maltbie
(1972)
|
Treasurer, Chief Financial
Officer and Chief
Accounting Officer
|
• Indefinite Term
• Since 2023
|
Senior Vice President, First Trust Advisors L.P. and First Trust
Portfolios L.P., July 2021 to Present. Previously, Vice President,
First Trust Advisors L.P. and First Trust Portfolios L.P., 2014 -
2021.
|
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;
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.
|
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.
|
(b) Not applicable.
Item 2. Code of Ethics.
(a) | The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. |
(c) | There have been no amendments, during the period covered by this report, to a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics description. |
(d) | The registrant, during the period covered by this report, has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions. |
(e) | Not applicable. |
(f) | A copy of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller is filed as an exhibit pursuant to Item 13(a)(1). |
Item 3. Audit Committee Financial Expert.
As of the end of the period covered by the report, the registrant’s board of trustees has determined that Thomas R. Kadlec, Robert F. Keith and Bronwyn Wright are qualified to serve as audit committee financial experts serving on its audit committee and that each of them is “independent,” as defined by Item 3 of Form N-CSR.
Item 4. Principal Accountant Fees and Services.
(a) Audit Fees (Registrant) — The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements were $52,000 for the fiscal year ended December 31, 2022 and $58,000 for fiscal year ended December 31, 2023.
(b) Audit-Related Fees (Registrant) — The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $0 for the fiscal year ended December 31, 2022, and $0 for the fiscal year ended December 31, 2023.
Audit-Related Fees (Investment Advisor and Distributor) — The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $0 for the fiscal year ended December 31, 2022, and $0 for the fiscal year ended December 31, 2023.
(c) Tax Fees (Registrant) — The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning to the registrant were $28,000 for the fiscal year ended December 31, 2022 and $42,000 for fiscal year ended December 31, 2023. These fees were for tax consultation and/or tax return preparation.
Tax Fees (Investment Advisor and Distributor) — The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning to the registrant’s advisor and distributor were $0 for the fiscal year ended December 31, 2022, and $0 for the fiscal year ended December 31, 2023.
(d) All Other Fees (Registrant) — The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant to the registrant, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the fiscal year ended December 31, 2022, and $0 for the fiscal year ended December 31, 2023.
All Other Fees (Investment Advisor and Distributor) — The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant to the registrant’s investment advisor and distributor, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the fiscal year ended December 31, 2022, and $0 for the fiscal year ended December 31, 2023.
(e)(1) Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.
Pursuant to its charter and its Audit and Non-Audit Services Pre-Approval Policy, the Audit Committee (the “Committee”) is responsible for the pre-approval of all audit services and permitted non-audit services (including the fees and terms thereof) to be performed for the registrant by its independent auditors. The Chairman of the Committee is authorized to give such pre-approvals on behalf of the Committee up to $25,000 and report any such pre-approval to the full Committee.
The Committee is also responsible for the pre-approval of the independent auditor’s engagements for non-audit services with the registrant’s advisor (not including a sub-advisor whose role is primarily portfolio management and is sub-contracted or overseen by another investment advisor) and any entity controlling, controlled by or under common control with the investment advisor that provides ongoing services to the registrant, if the engagement relates directly to the operations and financial reporting of the registrant, subject to the de minimis exceptions for non-audit services described in Rule 2-01 of Regulation S-X. If the independent auditor has provided non-audit services to the registrant’s advisor (other than any sub-advisor whose role is primarily portfolio management and is sub-contracted with or overseen by another investment advisor) and any entity controlling, controlled by or under common control with the investment advisor that provides ongoing services to the registrant that were not pre-approved pursuant to its policies, the Committee will consider whether the provision of such non-audit services is compatible with the auditor’s independence.
(e)(2) The percentage of services described in each of paragraphs (b) through (d) for the registrant and the registrant’s investment advisor of this Item that were approved by the audit committee pursuant to the pre-approval exceptions included in paragraph (c)(7)(i)(c) or paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X are as follows:
(b) 0%
(c) 0%
(d) 0%
(f) The percentage of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees was less than fifty percent.
(g) The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment advisor (not including any sub-advisor whose role is primarily portfolio management and is subcontracted with or overseen by another investment advisor), and any entity controlling, controlled by, or under common control with the advisor that provides ongoing services to the registrant for fiscal year ended December 31, 2022 were $28,000 for the registrant, $0 for the registrant’s investment advisor and $0 for the registrant’s distributor and for the registrant’s fiscal year ended December 31, 2023 were $42,000 for the registrant, $44,000 for the registrant’s investment advisor and $60,500 for the registrant’s distributor.
(h) The registrant’s audit committee of its Board of Trustees has determined that the provision of non-audit services that were rendered to the registrant’s investment advisor (not including any sub-advisor whose role is primarily portfolio management and is subcontracted with or overseen by another investment advisor), and any entity controlling, controlled by, or under common control with the investment advisor that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.
(i) Not applicable.
(j) Not applicable.
Items 5. Audit Committee of Listed Registrants.
The registrant has a separately designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934 consisting of all the independent directors of the registrant. The audit committee of the registrant is comprised of: Richard E. Erickson, Thomas R. Kadlec, Denise M. Keefe, Robert F. Keith, Niel B. Nielson and Bronwyn Wright.
Item 6. Investments.
(a) Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1 of this form.
(b) Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.
Item 11. Controls and Procedures.
(a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3 (c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15 (b)).
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item [18]. Recovery of Erroneously Awarded Compensation.
Not applicable.
Item 14 Exhibits.
(a)(1) | Code of ethics, or any amendment thereto, that is the subject of disclosure required by Item 2 is attached hereto. |
(a)(2) | Not Applicable. |
(a)(3) | Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
(a)(4) | Not applicable. |
(b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(registrant) | First Trust Exchange-Traded Fund VII |
By (Signature and Title)* | /s/ James M. Dykas | |
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
Date: | March 11, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ James M. Dykas | |
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
Date: | March 11, 2024 |
By (Signature and Title)* | /s/ Derek D. Maltbie | |
Derek D. Maltbie, Treasurer, Chief Financial Officer and Chief Accounting Officer (principal financial officer) |
Date: | March 11, 2024 |
* Print the name and title of each signing officer under his or her signature.
SENIOR FINANCIAL OFFICER
CODE OF CONDUCT
I. Introduction
This code of conduct is being adopted by the investment companies advised by First Trust Advisors L.P., from time to time, (the "FUNDS"). The reputation and integrity of the Funds are valuable assets that are vital to the Funds' success. Each officer of the Funds, and officers and employees of the investment adviser to the Funds who work on Fund matters, including each of the Funds' senior financial officers ("SFOS"), is responsible for conducting each Fund's business in a manner that demonstrates a commitment to the highest standards of integrity. SFOs include the Principal Executive Officer (who is the President), the Controller (who is the principal accounting officer), and the Treasurer (who is the principal financial officer), and any person who performs a similar function.
The Funds, First Trust Advisors L.P. and First Trust Portfolios have adopted Codes of Ethics under Rule 17j-1 under the Investment Company Act of 1940 (the "RULE 17J-1 CODE"). These Codes of Ethics are designed to prevent certain conflicts of interest that may arise when officers, employees, or directors of the Funds and the foregoing entities know about present or future Fund transactions and/or have the power to influence those transactions, and engage in transactions with respect to those same securities in their personal account(s) or otherwise take advantage of their position and knowledge with respect to those securities. In an effort to prevent these conflicts and in accordance with Rule 17j-1, the Funds adopted their Rule 17j-1 Code to prohibit transactions and conduct that create conflicts of interest, and to establish compliance procedures.
The Sarbanes-Oxley Act of 2002 was designed to address corporate malfeasance and to help assure investors that the companies in which they invest are accurately and completely disclosing financial information. Under Section 406 of the Act, all public companies (including the Funds) must either have a code of ethics for their SFOs, or disclose why they do not. The Act was intended to prevent future situations (such as occurred in well-reported situations involving such companies as Enron and WorldCom) where a company creates an environment in which employees are afraid to express their opinions or to question unethical and potentially illegal business practices.
The Funds have chosen to adopt a senior financial officer Code of Conduct to encourage their SFOs, and other Fund officers and employees of First Trust Advisors or First Trust Portfolios to act ethically and to question potentially unethical or illegal practices, and to strive to ensure that the Funds' financial disclosures are complete, accurate, and understandable.
II. Purposes of This Code of Conduct
The purposes of this Code are:
A. To promote honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;
B. To promote full, fair, accurate, timely, and understandable disclosure in reports and documents that the Funds file with, or submits to, the SEC and in other public communications the Funds make;
C. To promote compliance with applicable governmental laws, rules and regulations;
D. To encourage the prompt internal reporting to an appropriate person of violations of the Code; and
E. To establish accountability for adherence to the Code.
III. Questions About This Code
The Funds' Boards of Trustees have designated W. Scott Jardine or other appropriate officer designated by the President of the respective Funds to be the Compliance Coordinator for the implementation and administration of the Code.
IV. Handling of Financial Information
The Funds have adopted guidelines under which its SFOs perform their duties. However, the Funds expect that all officers or employees of the adviser or distributor who participate in the preparation of any part of any Fund's financial statements follow these guidelines with respect to each Fund:
A. Act with honesty and integrity and avoid violations of this Code, including actual or apparent conflicts of interest with the Fund in personal and professional relationships.
B. Disclose to the Fund's Compliance Coordinator any material transaction or relationship that reasonably could be expected to give rise to any violations of the Code, including actual or apparent conflicts of interest with the Fund. You should disclose these transactions or relationships whether you are involved or have only observed the transaction or relationship. If it is not possible to disclose the matter to the Compliance Coordinator, it should be disclosed to the Fund's Principal Financial Officer or Principal Executive Officer.
C. Provide information to the Fund's other officers and appropriate employees of service providers (adviser, administrator, outside auditor, outside counsel, custodian, etc.) that is accurate, complete, objective, relevant, timely, and understandable.
D. Endeavor to ensure full, fair, timely, accurate, and understandable disclosure in the Fund's periodic reports.
E. Comply with the federal securities laws and other applicable laws and rules, such as the Internal Revenue Code.
F. Act in good faith, responsibly, and with due care, competence and diligence, without misrepresenting material facts or allowing your independent judgment to be subordinated.
G. Respect the confidentiality of information acquired in the course of your work except when you have Fund approval to disclose it or where disclosure is otherwise legally mandated. You may not use confidential information acquired in the course of your work for personal advantage.
H. Share and maintain skills important and relevant to the Fund's needs.
I. Proactively promote ethical behavior among peers in your work environment.
J. Responsibly use and control all assets and resources employed or entrusted to you.
K. Record or participate in the recording of entries in the Fund's books and records that are accurate to the best of your knowledge.
V. Waivers of This Code
SFOs and other parties subject to this Code may request a waiver of a provision of this Code (or certain provisions of the Fund's Rule 17j-1 Code) by submitting their request in writing to the Compliance Coordinator for appropriate review. An executive officer of the Fund or the Audit Committee will decide whether to grant a waiver. All waivers of this Code must be disclosed to the Fund's shareholders to the extent required by SEC rules. A good faith interpretation of the provisions of this Code, however, shall not constitute a waiver.
VI. Annual Certification
Each SFO will be asked to certify on an annual basis that he/she is in full compliance with the Code and any related policy statements.
VII. Reporting Suspected Violations
A. SFOs or other officers of the Funds or employees of the First Trust group who work on Fund matters who observe, learn of, or, in good faith, suspect a violation of the Code MUST immediately report the violation to the Compliance Coordinator, another member of the Funds' or First Trust's senior management, or to the Audit Committee of the Fund Board. An example of a possible Code violation is the preparation and filing of financial disclosure that omits material facts, or that is accurate but is written in a way that obscures its meaning.
B. Because service providers such as an administrator, outside accounting firm, and custodian provide much of the work relating to the Funds' financial statements, you should be alert for actions by service providers that may be illegal, or that could be viewed as dishonest or unethical conduct. You should report these actions to the Compliance Coordinator even if you know, or think, that the service provider has its own code of ethics for its SFOs or employees.
C. SFOs or other officers or employees who report violations or suspected violations in good faith will not be subject to retaliation of any kind. Reported violations will be investigated and addressed promptly and will be treated confidentially to the extent possible.
VIII. Violations of The Code
A. Dishonest, unethical or illegal conduct will constitute a violation of this Code, regardless of whether this Code specifically refers to that particular conduct. A violation of this Code may result in disciplinary action, up to and including termination of employment. A variety of laws apply to the Funds and their operations, including the Securities Act of 1933, the Investment Company Act of 1940, state laws relating to duties owed by Fund directors and officers, and criminal laws. The federal securities laws generally prohibit the Funds from making material misstatements in its prospectus and other documents filed with the SEC, or from omitting to state a material fact. These material misstatements and omissions include financial statements that are misleading or omit materials facts.
B. Examples of criminal violations of the law include stealing, embezzling, misapplying corporate or bank funds, making a payment for an expressed purpose on a Fund's behalf to an individual who intends to use it for a different purpose; or making payments, whether corporate or personal, of cash or other items of value that are intended to influence the judgment or actions of political candidates, government officials or businesses in connection with any of the Funds' activities. The Funds must and will report all suspected criminal violations to the appropriate authorities for possible prosecution, and will investigate, address and report, as appropriate, non-criminal violations.
Amended: June 1, 2009
Certification Pursuant to Rule 30a-2(a) under
the 1940 Act and Section 302
of the Sarbanes-Oxley Act
I, James M. Dykas, certify that:
1. | I have reviewed this report on Form N-CSR of First Trust Exchange-Traded Fund VII; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and |
(d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Date: | March 11, 2024 | /s/ James M. Dykas | |||
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
Certification Pursuant to Rule 30a-2(a) under
the 1940 Act and Section 302
of the Sarbanes-Oxley Act
I, Derek D. Maltbie, certify that:
1. | I have reviewed this report on Form N-CSR of First Trust Exchange-Traded Fund VII; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and |
(d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Date: | March 11, 2024 | /s/ Derek D. Maltbie | |||
Derek D. Maltbie, Treasurer, Chief Financial Officer and Chief Accounting Officer (principal financial officer) |
Certification Pursuant to Rule 30a-2(b) under the
1940 Act and Section 906
of the Sarbanes-Oxley Act
I, James M. Dykas, President and Chief Executive Officer of First Trust Exchange-Traded Fund VII (the “Registrant”), certify that:
1. | The Form N-CSR of the Registrant (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
2. | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant. |
Date: | March 11, 2024 | /s/ James M. Dykas | |||
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
I, Derek D. Maltbie, Treasurer, Chief Financial Officer and Chief Accounting Officer of First Trust Exchange-Traded Fund VII (the “Registrant”), certify that:
1. | The Form N-CSR of the Registrant (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
2. | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant. |
Date: | March 11, 2024 | /s/ Derek D. Maltbie | |||
Derek D. Maltbie, Treasurer, Chief Financial Officer and Chief Accounting Officer (principal financial officer) |
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