FT Vest Laddered International Moderate Buffer ETF is an actively managed exchange-traded fund sponsored by First Trust Advisors LP that seeks to provide international developed market equity exposure while attempting to limit downside risk through a laddered portfolio of four FT Vest International Equity Moderate Buffer ETFs, with each underlying fund designed to track the price return of the iShares MSCI EAFE ETF while offering a predefined upside cap and a buffer against the first 15% of losses over a one-year outcome period. The fund, which was launched in 2024 and is headquartered in Wheaton, Illinois, invests substantially all of its assets in these underlying ETFs; it targets retail and institutional investors seeking defined-outcome international equity exposure and is traded on Cboe BZX under the ticker BUFY. The fund’s core structure includes equal-weighted exposure across underlying buffer ETFs with staggered option reset dates to create a laddered outcome profile, and it charges a 1.00% expense ratio. Recent company changes include the September 2024 launch of BUFY as part of First Trust’s expanded target outcome lineup, representing a strategic extension of the firm’s defined-outcome ETF platform into international equities, with ongoing portfolio and outcome-period updates reflected in the fund’s underlying holdings and cap/buffer levels.