FT Vest U.S. Equity Moderate Buffer ETF - July (GJUL)

The FT Vest U.S. Equity Moderate Buffer ETF - July (GJUL) is a target outcome fund from First Trust, sub-advised by Vest Financial. It aims to provide returns linked to the SPDR S&P 500 ETF Trust up to a cap, combined with a buffer against part of the losses, over a one-year outcome period that starts each July.

The fund builds this exposure with FLexible EXchange (FLEX) options referencing the S&P 500 ETF. Its moderate buffer is intended to offset roughly the first 15 percent of declines in the reference ETF during the period, and the cap on gains is reset at the beginning of each annual period.

Shares bought after a period has begun may carry a different remaining buffer and cap. The ETF is listed on Cboe BZX.