First Trust Exchange-Traded Fund VIII - FT Vest Nasdaq-100 Moderate Buffer ETF - November
QMNV
Chicago Board Options Exchange- -
USD
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- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 120 East Liberty Drive, Suite 400 Wheaton IL United States of America 60187
- IPO Date
- Nov 18, 2024
- CIK
- 0001667919
- Similar Companies
- Business
- First Trust Exchange-Traded Fund VIII – FT Vest Nasdaq-100 Moderate Buffer ETF – November is a U.S.-listed, actively managed defined-outcome exchange-traded fund that seeks to provide investment returns, before fees and expenses, linked to the price performance of the Invesco QQQ Trust, Series 1, subject to a predetermined upside cap and a downside buffer over annually resetting November outcome periods. The Fund principally invests substantially all of its assets in exchange-traded flexible exchange options, or FLEX Options, referencing QQQ, together with cash and collateral investments. QQQ seeks to track the Nasdaq-100 Index, which comprises 100 of the largest domestic and international non-financial companies listed on Nasdaq. QMNV is designed for investors seeking Nasdaq-100-related equity exposure with defined risk-management characteristics, including protection against the initial portion of QQQ price declines during the applicable outcome period in exchange for foregone appreciation above the applicable cap; losses beyond the buffer are generally experienced on a one-for-one basis, and investors purchasing shares after the beginning of an outcome period may realize outcomes materially different from the stated cap and buffer. The Fund is part of First Trust’s FT Vest Target Outcome Funds franchise and is advised by First Trust Advisors L.P., with Vest Financial LLC serving as sub-adviser. It is organized as a series of First Trust Exchange-Traded Fund VIII, trades on Cboe BZX under the ticker QMNV, and is offered to U.S. retail and institutional investors through exchange-based brokerage platforms. QMNV commenced operations in November 2024 and is headquartered through its adviser in Wheaton, Illinois, United States. Recent operational developments include the Fund’s annual reset of its November target-outcome strategy, which establishes a new one-year outcome period and recalibrates the applicable upside cap and downside buffer based on prevailing option-market conditions, as well as a management-responsibility change under which Trevor Lack, Managing Director of Vest Financial LLC, assumed primary day-to-day portfolio-management responsibility alongside Karan Sood, replacing Howard Rubin.