First Trust Exchange-Traded Fund IV - First Trust Long Duration Opportunities ETF is an exchange traded fund launched and managed by First Trust Advisors LP. The fund invests in fixed income markets of the United States. It invests in investment-grade securities that are issued or guaranteed by the U.S. Government, its agencies or government-sponsored entities, including U.S. Treasury securities and bonds, debentures and mortgage-backed securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities. The fund invests in securities weighted average portfolio effective duration of eight or more years. It employs fundamental analysis with top-down and bottom-up security picking approach to create its portfolio. It seeks to benchmark the performance of its portfolio against the ICE BofA 5+ Year US Treasury Index and the Bloomberg US Aggregate Bond Index. First Trust Exchange-Traded Fund IV - First Trust Long Duration Opportunities ETF was formed on January 22, 2019 and is domiciled in the United States.