0001445546-22-007602.txt : 20221101 0001445546-22-007602.hdr.sgml : 20221101 20221031174634 ACCESSION NUMBER: 0001445546-22-007602 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20221101 DATE AS OF CHANGE: 20221031 EFFECTIVENESS DATE: 20221101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST TRUST EXCHANGE-TRADED FUND VII CENTRAL INDEX KEY: 0001561785 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FILING VALUES: FORM TYPE: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 333-184918 FILM NUMBER: 221347623 BUSINESS ADDRESS: STREET 1: 120 EAST LIBERTY DRIVE, SUITE 400 CITY: WHEATON STATE: IL ZIP: 60187 BUSINESS PHONE: 630-765-8000 MAIL ADDRESS: STREET 1: 120 EAST LIBERTY DRIVE, SUITE 400 CITY: WHEATON STATE: IL ZIP: 60187 0001561785 S000039654 First Trust Global Tactical Commodity Strategy Fund C000122820 First Trust Global Tactical Commodity Strategy Fund FTGC 497K 1 etf7_ftgc497k.htm SUPPLEMENT TO THE SUMMARY PROSPECTUS

Rule 497(k)

File No. 333-184918

First Trust Exchange-Traded Fund VII

(the “Trust”)

First Trust Global Tactical Commodity Strategy Fund

First Trust Alternative Absolute Return Strategy ETF

(each, a “Fund”)

Supplement To each Fund’s Prospectus, Summary Prospectus
and Statement of Additional Information

November 1, 2022

Notwithstanding anything to the contrary in each Fund’s prospectus, summary prospectus or statement of additional information, effective November 1, 2022, as approved by the Trust’s Board of Trustees, the management fee paid to First Trust Advisors L.P. (the “Advisor”) will be reduced at certain levels of a Fund’s net assets (“breakpoints”) and calculated pursuant to the schedule below:

 

Management Fee Breakpoints
0.95000% Fund net assets up to and including $2.5 billion
0.92625% Fund net assets greater than $2.5 billion up to and including $5 billion
0.90250% Fund net assets greater than $5 billion up to and including $7.5 billion
0.87875% Fund net assets greater than $7.5 billion up to and including $10 billion
0.85500% Fund net assets greater than $10 billion

 

 

 

 

 

 

 

 

 

 

 

 

Please Keep this Supplement with your Fund Prospectus, Summary Prospectus

and Statement of Additional Information for Future Reference