FT Vest U.S. Equity Max Buffer ETF - August (AUGM)

The FT Vest U.S. Equity Max Buffer ETF - August is a defined-outcome fund advised by First Trust Advisors and sub-advised by Vest Financial. It seeks to provide returns linked to the SPDR S&P 500 ETF Trust, up to a predetermined cap, while protecting against the full extent of that fund's losses over an outcome period of roughly one year that starts in August.

The fund builds this profile with FLEX options on the S&P 500 ETF, combining positions so that downside is buffered entirely over the outcome period in exchange for a cap on upside participation. The cap is reset at the beginning of each outcome period based on prevailing option prices.

The stated buffer and cap apply to shareholders who hold from the start to the end of the outcome period; those who buy or sell during the period may see different results. Fees and expenses also reduce returns relative to the outcome targets.