First Trust New York Municipal High Income ETF

The First Trust New York Municipal High Income ETF (the Fund) primarily aims to deliver current income that is exempt from both federal and New York state and city income taxes. Its secondary objective is to achieve long-term capital growth. To accomplish these goals, the Fund typically invests a minimum of 80% of its net assets, including any funds obtained through borrowing, in municipal debt securities. These specific securities are chosen for their ability to generate interest payments that are free from regular federal, New York State, and New York City income taxation.