FT Vest U.S. Equity Buffer ETF - December
FDEC
Chicago Board Options Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 120 East Liberty Drive, Suite 400 Wheaton IL United States of America 60187
- IPO Date
- Dec 21, 2020
- CIK
- 0001667919
- Website
- ftportfolios.com
- Similar Companies
- Business
- FT Vest U.S. Equity Buffer ETF - December (FDEC), a series of First Trust Exchange-Traded Fund VIII, is an actively managed exchange-traded fund that seeks to deliver targeted investment outcomes tied to the price return performance of the SPDR S&P 500 ETF Trust (SPY) up to an upside cap while providing a downside buffer. The fund invests substantially all of its assets in Flexible Exchange (FLEX) Options referencing SPY, including purchased and written call and put options structured to offer, before fees and expenses, participation in SPY's positive price returns up to a predetermined cap of 14.76% and protection against the first 10% of SPY losses over each approximately one-year Target Outcome Period, which for the current period runs from December 23, 2024, through December 19, 2025; after the fund's 0.85% management fee, the cap adjusts to 13.91% and the buffer to 9.15%. FLEX Options are customized, exchange-traded contracts cleared by the Options Clearing Corporation, enabling the fund to replicate SPY price performance subject to the cap and buffer without direct holdings in SPY or its underlying S&P 500 Index constituents. The fund trades principally on the Cboe BZX Exchange under the ticker FDEC and targets investors seeking defined outcome strategies in the large-cap U.S. equity market segment, with performance driven by SPY's replication of the S&P 500 Index across diverse sectors led by information technology. First Trust Advisors L.P. serves as investment adviser, with Vest Financial LLC acting as sub-adviser to manage the FLEX Options portfolio; First Trust Portfolios L.P. functions as distributor and sponsor. First Trust Advisors L.P., founded in 1991 and headquartered in Wheaton, Illinois, oversees a broad range of ETFs and investment products; Vest Financial LLC, established in 2012 and based in McLean, Virginia, specializes in options-based target outcome strategies. The fund operates perpetually, resetting FLEX Options at the end of each Target Outcome Period to establish a new cap based on prevailing market conditions such as interest rates and volatility, while maintaining the 10% buffer level. Recent developments include the establishment of the current Target Outcome Period cap at 14.76% (pre-fees) as of the January 2, 2025 prospectus update, reflecting market conditions at the December 23, 2024 start date, with investor notifications via sticker filings approximately one week prior to period-end for the anticipated next cap range. First Trust Advisors L.P. announced a monthly distribution for FT Vest U.S. Equity Buffer & Premium Income ETF - December (a related series) on December 19, 2024, underscoring ongoing product enhancements within the FT Vest suite amid expanding institutional ownership of FDEC, which reached 139 holders managing 18.5 million shares as of early 2025. The fund's strategy aligns with broader ETF industry trends toward buffer and defined outcome products, with no reported acquisitions, partnerships, or structural changes specific to FDEC in the past 1-2 years, though First Trust continues to innovate across its ETF platform.