FT Vest U.S. Equity Buffer & Digital Return ETF - July (DGJL)

The FT Vest U.S. Equity Buffer & Digital Return ETF - July (DGJL) is a target outcome fund from First Trust Advisors, sub-advised by Vest Financial. It references the SPDR S&P 500 ETF Trust over a one-year outcome period that begins each July.

The fund pairs two features. Its digital return component is designed so that if the reference ETF's price is flat or higher at the end of the outcome period, the fund delivers a predetermined fixed return, regardless of how much the market actually rose. Its buffer component seeks to absorb a specified portion of losses if the reference ETF declines over the period.

These outcomes are built with FLexible EXchange (FLEX) options. The digital return level is reset at the start of each outcome period, and shares purchased mid-period may produce results that differ from those targeted.