First Trust Exchange-Traded Fund VIII – FT Vest U.S. Equity Dual Directional Buffer ETF – May is a U.S.-domiciled exchange-traded fund that seeks to provide investors with returns linked to the price performance of the SPDR S&P 500 ETF Trust, including positive returns in rising markets and, subject to specified limits, in certain declining markets. The Fund employs a target-outcome strategy using FLEX Options referencing SPY to provide capped inverse performance when the reference asset declines to a predetermined threshold and a buffer intended to limit losses during larger declines; its outcomes are designed for investors that purchase shares at the start of, and hold through, the applicable annual outcome period. The Fund invests principally through options and other derivative instruments tied to U.S. large-cap equity exposure across diversified sectors and is classified as a non-diversified investment company. It is advised by First Trust Advisors L.P., an affiliate of distributor First Trust Portfolios L.P., and uses Target Outcome trademarks owned by Vest Financial LLC. DLMY was launched in May 2026 as the May-series addition to First Trust’s FT Vest Dual Directional Funds platform, expanding the issuer’s lineup of defined-outcome ETFs; the then-current outcome period runs to May 2027 and references SPY. The Fund charges a 0.85% total expense ratio and is managed from the United States.