FT Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG)

The FT Vest U.S. Equity Enhance & Moderate Buffer ETF - August is a defined-outcome exchange-traded fund offered by First Trust and sub-advised by Vest Financial. It is listed on Cboe BZX under the ticker XAUG.

Its portfolio consists primarily of FLEX options referencing the SPDR S&P 500 ETF Trust. The options are structured to provide enhanced upside participation in U.S. large-cap equity performance up to a cap, combined with a moderate buffer that absorbs a portion of losses, over a one-year outcome period that starts in August.

At the end of each period the fund rolls into a new set of options and a new cap is established. Because the targeted outcome applies to the full period, shares purchased after the period begins may produce results that differ from the stated parameters.