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First Trust Announces Management Fee Reductions for Certain Fixed Income Funds
[January 23, 2026]

First Trust Announces Management Fee Reductions for Certain Fixed Income Funds


First Trust Advisors L.P. ("FTA") announces that the Board of Trustees (the "Board") of each of the funds listed below (each, a "Fund" and collectively, the "Funds") has approved, effective February 1, 2026, a permanent contractual reduction of each Fund's annual unitary management fee to the rates set forth below. In connection with the adoption of the reduced annual unitary management fees, the Board has also approved, effective February 1, 2026, the termination of the temporary fee waivers for the Funds that were put in place on January 1, 2026. Additionally, under each Fund's new fee structure, the Funds will not be eligible for any breakpoint discounts described in the Funds' prospectuses or statements of additional information.



Fund

New Annual Unitary Management Fee

First Trust Exchange-Traded Fund III

 

First Trust California Municipal High Income ETF (FCAL)

0.49%

First Trust Managed Municipal ETF (FMB)

0.39%

First Trust Municipal High Income ETF (FMHI)

0.49%

First Trust New York Municipal High Income ETF (FMNY)

0.49%

First Trust Short Duration Managed Municipal ETF (FSMB)

0.34%

First Trust Ultra Short Duration Municipal ETF (FUMB)

0.29%

First Trust Exchange-Traded Fund IV

 

First Trust AAA CMBS ETF (CAAA)

0.29%

First Trust Enhanced Short Maturity ETF (FTSM)

0.29%

First Trust High Income Strategic Focus ETF (HISF)

0.10%

First Trust Intermediate Duration Investment Grade Corporate ETF (FIIG)

0.49%

First Trust Intermediate Government Opportunities ETF (MGOV)

0.49%

First Trust Limited Duration Investment Grade Corporate ETF (FSIG)

0.44%

First Trust Long Duration Opportunities ETF (LGOV)

0.49%

First Trust Senior Loan Fund (FTSL)

0.69%

First Trust Structured Credit Income Opportunities ETF (SCIO)

0.69%

First Trust Tactical High Yield ETF (HYLS)

0.69%

First Trust Exchange-Traded Fund VIII

 

First Trust Flexible Municipal High Income ETF (MFLX)

0.49%

First Trust Low Duration Strategic Focus ETF (LDSF)

0.10%

First Trust Securitized Plus ETF (DEED)

0.65%


FTA is a federally registered investment advisor and serves as each Fund's investment advisor. FTA and its affiliate, First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $309.1 billion as of December 31, 2025 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and SMAs. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.

You should consider a Fund's investment objective, risks, charges and expenses carefully before investing. You can download a prospectus or contact FTA to request a prospectus, which contains other information about each Fund. Read it carefully before you invest. The risks of investing in a Fund are spelled out in its prospectus, shareholder reports and other regulatory filings.

The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.

This press release does not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Each Fund's daily closing price and net asset value per share as well as other information can be found at www.ftportfolios.com.


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