0001424212 2024-08-02 2024-08-02 0001424212 MARB:S000067481Member 2024-08-02 2024-08-02 iso4217:USD pure false 2024-08-02 2024-08-02 N-1A 0001424212 2023-07-31 497 First Trust Exchange-Traded Fund III <p style="font: 10pt/12pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0; text-transform: uppercase; text-align: left"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt/12pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">1.</td><td style="text-align: justify">Notwithstanding anything to the contrary in the Fund’s prospectus or summary prospectus, effective as of August 1, 2024, the table entitled “Average Annual Total Returns for the Periods Ended December 31, 2022” set forth in the section entitled “Annual Total Return” set forth in the Fund’s prospectus and summary prospectus is hereby deleted and replaced with the following:</td></tr></table> <p style="font: bold 10pt/12pt Arial, Helvetica, Sans-Serif; margin: 10pt 0 12pt">Average Annual Total Returns for the Periods Ended December 31, 2022</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 1pt solid; vertical-align: top; width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in; line-height: 12pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt"><b>1 Year</b></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt"><b>Since <br/> Inception</b></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt"><b>Inception<br/> Date</b></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in; line-height: 12pt">Return Before Taxes</td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt">3.46%</td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt">0.56%</td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt">2/4/2020</td></tr> <tr> <td style="border-bottom: Black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in; line-height: 12pt">Return After Taxes on Distributions</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt">3.04%</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt">0.43%</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt"> </td></tr> <tr> <td style="border-bottom: Black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in; line-height: 12pt">Return After Taxes on Distributions and Sale of Fund Shares</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt">2.05%</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt">0.37%</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt"> </td></tr> <tr> <td style="border-bottom: Black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in; line-height: 12pt">S&amp;P Merger Arbitrage Total Return Index (reflects no deduction for fees, expenses or taxes)⁽¹⁾</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt">-4.21%</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt">1.73%</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt"> </td></tr> <tr> <td style="border-bottom: Black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; text-indent: 0in; line-height: 12pt">S&amp;P 500^® Index (reflects no deduction for fees, expenses or taxes)</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt">-18.11%</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt">7.12%</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; text-indent: 0in; line-height: 12pt"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt/12pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 3pt; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in"><span style="font-size: 9pt"><i>(1)</i></span></td><td style="text-align: justify"><span style="font-size: 9pt"><i>Effective as of August 1, 2024, the S&amp;P Merger Arbitrage Total Return Index replaced the Credit Suisse Merger Arbitrage Liquid Index, which is no longer available for use by the Fund.</i></span></td></tr></table>