FT Vest Nasdaq-100 Moderate Buffer ETF - February (QMFE)

The FT Vest Nasdaq-100 Moderate Buffer ETF - February (ticker QMFE) is a defined-outcome exchange-traded fund sponsored by First Trust and sub-advised by Vest Financial. It seeks to provide returns that match those of the Nasdaq-100 Index, as represented through an exchange-traded fund tracking that index, up to a predetermined upside cap, while buffering a specified range of losses over an annual outcome period that begins each February.

The fund builds its payoff profile mainly with FLexible EXchange (FLEX) options that reference the Nasdaq-100 exposure. The combination of purchased and written options creates the downside buffer and limits upside participation to the cap, which is reset at the start of each new outcome period.

The 'moderate' label describes the structure of the buffer relative to other funds in the FT Vest lineup. Investors who buy shares after the outcome period has started may experience a different buffer and cap than those set at the beginning of the period.