FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January (XJAN)

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

The fund invests in FLEX options on the SPDR S&P 500 ETF Trust, structured to provide enhanced upside participation in U.S. large-cap equities up to a cap, along with a moderate buffer against a portion of losses. The outcome period runs for one year, beginning in January.

At each period's end the options are rolled and a new cap is set. The targeted outcomes apply to investors who hold shares for the entire period; those who buy partway through may see different results.