FT Vest U.S. Equity Moderate Buffer ETF - April
GAPR
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 - Leveraged
- Address
- 120 East Liberty Drive, Suite 400 Wheaton IL United States of America 60187
- IPO Date
- Apr 24, 2023
- CIK
- 0001667919
- Website
- ftportfolios.com
- Similar Companies
- Business
- FT Vest U.S. Equity Moderate Buffer Fund - Apr (GAPR) is an actively managed exchange-traded fund that seeks to provide capital appreciation linked to the price return of the SPDR S&P 500 ETF Trust (SPY), subject to an upside cap and a downside buffer over a target outcome period of approximately one year ending in April. The fund employs a synthetic covered call options strategy involving FLEX options on SPY to achieve its targeted outcomes, offering investors buffered protection against the first 10%-15% of SPY losses while participating in positive returns up to a predefined cap; it resets its buffer and cap levels annually with each new outcome period. Distributed by FT Vest Distributors, LLC, a subsidiary of First Trust Advisors LP, the fund operates within the U.S. equity buffer ETF segment, targeting retail and institutional investors seeking equity exposure with defined risk parameters. Headquartered in Wheaton, Illinois, the fund launched in 2021 as part of the broader FT Vest suite of target outcome ETFs, which includes various buffer, enhance, and deep buffer products across U.S. equity, international equity, and fixed income benchmarks. Geographically, it focuses on U.S. markets through its linkage to SPY, with no direct international operations. In recent developments, FT Vest expanded its buffer ETF lineup in 2024-2025 with additional outcome periods and enhanced buffer levels on select funds, including adjustments to GAPR's strategy to optimize cap rates amid volatile market conditions; the firm also announced strategic partnerships with options liquidity providers to improve execution efficiency and announced a minor ticker realignment for select series in late 2024 to streamline investor access. These changes reflect ongoing adaptations to investor demand for higher buffers and competitive caps in a rising interest rate environment.