First Trust Exchange-Traded Fund VIII - FT Vest U.S. Equity Buffer & Digital Return ETF - April
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- First Trust Exchange-Traded Fund VIII – FT Vest U.S. Equity Buffer & Digital Return ETF – April is a non-diversified, actively managed exchange-traded fund that seeks to provide investors with a defined target-outcome exposure linked to the price performance of the SPDR S&P 500 ETF Trust. The Fund invests substantially all of its assets in customized Flexible Exchange Options (FLEX Options) referencing the SPDR S&P 500 ETF Trust and, for shares acquired on the first day and held throughout a Target Outcome Period, seeks to provide a fixed digital return when the underlying ETF appreciates, remains unchanged or declines by 10% or less; it is designed to buffer the first 10% of underlying ETF losses, while investors do not participate in underlying ETF gains beyond the stated digital return and incur losses on a one-for-one basis when the underlying ETF declines by more than the buffer. The Fund’s principal offerings comprise exchange-traded shares providing defined-outcome U.S. large-cap equity exposure; a 10% downside buffer; a fixed digital-return profile reset for each Target Outcome Period based on market conditions; and options-based portfolio management using FLEX Options. The Fund does not directly hold the component equities of the S&P 500 and is subject to option, counterparty, market, liquidity, valuation and underlying-ETF risks. Its shares trade under the ticker DGAP on Cboe BZX Exchange and are offered through First Trust Portfolios L.P.; First Trust Advisors L.P. serves as investment adviser and is affiliated with the distributor. The Target Outcome strategy and related trademarks are associated with Vest Financial LLC. The Fund was launched in April 2026 and is organized within First Trust Exchange-Traded Fund VIII, with First Trust’s principal office in Wheaton, Illinois. Its latest major development is its April 2026 launch as a new FT Vest defined-outcome ETF, establishing an April-based annual target-outcome series that uses SPY-linked FLEX Options and resets its digital-return terms at the beginning of each subsequent Target Outcome Period.