FT Vest U.S. Equity Buffer ETF - May
FMAY
Chicago Board Options Exchange- -
USD
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- -
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
- May 19, 2020
- CIK
- 0001667919
- Website
- ftportfolios.com
- Similar Companies
- Business
- FT Vest U.S. Equity Buffer ETF - May (FMAY) is an exchange-traded fund that seeks to provide investors with returns, before fees and expenses, that match the price return of the SPDR S&P 500 ETF Trust (SPY) up to a defined upside cap while offering a buffer against the first 10% of losses in the underlying ETF over a one-year target outcome period beginning each May. The fund employs a target outcome strategy using FLEX options on SPY, including call and put options structured to deliver the specified cap and buffer; its portfolio is predominantly composed of such options, cash equivalents, and indirect exposure to U.S. large-cap equities across sectors like technology, financials, and consumer cyclicals. Managed sub-advisor Vest Financial LLC, with First Trust Advisors L.P. as advisor, targets retail and institutional investors seeking defined-risk equity exposure without direct SPY ownership; the fund operates primarily in the United States, listing on Cboe BZX Exchange. Launched on May 15, 2020 and headquartered in Wheaton, Illinois through its advisor, the fund resets its cap and buffer annually based on prevailing market conditions at the start of each target outcome period, with the current period running from May 20, 2025, to approximately May 15, 2026, and an upside cap of 14.97% before fees. In October 2025, First Trust Advisors announced proposed reorganizations of four Vest-advised mutual funds into First Trust-advised funds, reflecting closer integration between First Trust and Vest Financial, a firm in which First Trust Capital Partners holds a majority equity interest; these changes strengthen the operational alignment supporting FMAY and related buffer ETFs. Recent portfolio management updates include Trevor Lack joining as co-portfolio manager alongside Karan Sood effective January 2, 2025, amid ongoing expansions in First Trust's target outcome ETF suite.