FT Vest Nasdaq-100 Conservative Buffer ETF - April (QCAP)

The FT Vest Nasdaq-100 Conservative Buffer ETF - April is a defined-outcome fund from First Trust Advisors, the Wheaton, Illinois-based ETF sponsor, with Vest Financial serving as sub-adviser.

The fund uses FLEX options referencing the Nasdaq-100 Index, typically through the Invesco QQQ Trust, to provide index-linked returns over a one-year outcome period that begins in April. Its conservative buffer is designed to provide a deeper level of downside protection than First Trust's standard buffer funds, in exchange for a lower cap on gains set at the start of each period.

The options reset annually, establishing new terms. The fund trades on Cboe BZX under the ticker QCAP.