First Trust Exchange-Traded Fund VIII - FT Vest Nasdaq-100 Moderate Buffer ETF - February
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- First Trust Exchange-Traded Fund VIII – FT Vest Nasdaq-100 Moderate Buffer ETF – February is an actively managed exchange-traded fund sponsored by First Trust Advisors L.P. and co-managed by Vest Financial LLC. The Fund seeks to provide exposure to the price return of the Invesco QQQ Trust, Series 1, which tracks the Nasdaq-100 Index, subject to a predetermined annual upside cap while seeking to buffer the first 15% of declines in the underlying ETF over each February-to-February Target Outcome Period. The Fund pursues this strategy principally through a portfolio of FLEX Options linked to Invesco QQQ Trust shares, including long call options, long put options and written call options, together with cash and cash-equivalent collateral. Its economic exposure is therefore concentrated in large-cap, predominantly technology-oriented and other non-financial companies represented in the Nasdaq-100 Index, spanning information technology; communication services; consumer discretionary; health care; industrials; consumer staples; energy; materials; real estate; utilities and other sectors. The Fund is intended for investors seeking defined-outcome equity exposure, with capped upside participation and downside protection applicable only to the stated buffer and only when shares are held over the full Target Outcome Period; losses beyond the buffer generally are borne on a one-for-one basis. The Fund, a separate series of First Trust Exchange-Traded Fund VIII and a U.S.-domiciled registered investment company, was launched on February 21, 2025, trades under the ticker QMFE and is listed in the United States. First Trust Advisors L.P., headquartered in Wheaton, Illinois, serves as investment adviser, while Vest Financial LLC provides co-management expertise for the options-based target-outcome strategy. The Fund has a 0.90% total annual operating-expense ratio. Its principal recent operational development was the completion of its initial Target Outcome Period on February 20, 2026 and the reset into a new February 2026–February 2027 outcome period; First Trust disclosed an anticipated gross upside-cap range of 13.20% to 15.70% for the new period, or 12.30% to 14.80% after fees and expenses, while retaining the 15% pre-expense downside buffer.