|First Trust Tactical High Yield ETF|
|Full Time Employees:||N/A|
The investment seeks current income; capital appreciation is the secondary objective.
Under normal market conditions, the fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in high yield debt securities that are rated below investment grade at the time of purchase or unrated securities deemed by the fund's advisor to be of comparable quality. It may invest up to 10% of its net assets (plus the amount of any borrowing for investment purposes) in non-U.S. securities denominated in non-U.S. currencies.