FT Vest Buffered Allocation Defensive ETF
BUFT
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ROIC.AI
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- FT Vest Buffered Allocation Defensive ETF (BUFT) is an actively managed exchange-traded fund-of-funds that provides investors with diversified exposure to a portfolio of defined outcome buffer exchange-traded funds (ETFs) referencing the SPDR S&P 500 ETF Trust (SPY); these underlying ETFs include U.S. Equity Buffer, U.S. Equity Deep Buffer, and U.S. Equity Enhance & Moderate Buffer series, each offering capped upside participation and buffers against the first 5%-30% of SPY losses over one-year target outcome periods. The fund selects and weights five to seven underlying ETFs based on factors such as SPY price, net asset value, implied volatility, remaining cap, and buffer levels to optimize downside protection while allowing some growth participation; the portfolio undergoes monthly evaluations and rebalancing. BUFT operates in the equity volatility hedged segment, targeting investors seeking large-cap U.S. equity exposure with risk mitigation, and trades on the Cboe BZX Exchange with total net assets of approximately $127 million and a net expense ratio of 1.05%. Launched on October 26, 2021, BUFT is issued under First Trust Exchange-Traded Fund VIII and domiciled in the United States, with investment advisory services provided by First Trust Advisors L.P. and target outcome strategies licensed from Vest Financial LLC. Recent developments include the appointment of Trevor Lack as co-portfolio manager effective January 2, 2025, alongside Karan Sood, as well as ongoing board and audit committee updates such as new trustee elections in August 2025 and trustee appointments in March 2024; the fund continues to maintain its allocation-based structure without reported acquisitions, partnerships, or major strategic shifts in the past 1-2 years.