FT Vest U.S. Equity Enhance & Moderate Buffer ETF - February (XFEB)

The FT Vest U.S. Equity Enhance & Moderate Buffer ETF - February is a defined-outcome exchange-traded fund from First Trust, sub-advised by Vest Financial. It trades on Cboe BZX under the ticker XFEB.

The fund holds FLEX options that reference the SPDR S&P 500 ETF Trust. These positions are designed to deliver enhanced participation in U.S. large-cap equity gains, up to a cap, together with a moderate buffer against part of the losses, over an annual outcome period beginning in February.

Each year the options are reset and a new cap is determined for the next period. Shares bought after an outcome period has started may not receive the full benefit of the stated buffer or enhancement.