FT Vest U.S. Equity Moderate Buffer ETF - April

FT Vest U.S. Equity Moderate Buffer ETF - April is an exchange-traded fund designed to provide exposure to U.S. large-cap equities through a defined-outcome options strategy. The fund seeks to track the price performance of the SPDR S&P 500 ETF Trust while aiming to limit losses on the first portion of market declines and cap gains over a one-year outcome period that resets each April. Managed by First Trust Advisors and launched in 2023, it uses options and collateral rather than holding a traditional portfolio of stocks. The fund is part of First Trust’s Target Outcome Strategies lineup and is used by investors looking for a rules-based structure tied to broad U.S. equity market performance. Its role in the market is to offer a packaged equity exposure with built-in downside buffer and upside cap features.