FT Vest U.S. Equity Max Buffer ETF - October (OCTM)

The FT Vest U.S. Equity Max Buffer ETF - October (OCTM) is a defined-outcome exchange-traded fund from First Trust, with Vest Financial as sub-adviser. It seeks to provide returns tied to the SPDR S&P 500 ETF Trust over a one-year outcome period that begins in October, while limiting losses within a predetermined range.

Its max buffer design seeks to protect against the full amount of the reference fund's losses over the outcome period, before fees and expenses, in exchange for an upside cap that is set when each period begins. The fund holds FLEX options on the S&P 500 reference fund and resets its positions each October.