FT Vest U.S. Equity Equal Weight Buffer ETF - September
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- FT Vest U.S. Equity Equal Weight Buffer ETF - September (RSSE) is an actively managed exchange-traded fund that seeks to provide investment returns, before fees and expenses, that match the price return of the Invesco S&P 500 Equal Weight ETF (RSP) up to a predetermined upside cap while offering a buffer against the first 10% of losses in RSP over a one-year Target Outcome Period. The fund invests substantially all of its assets in FLEX Options, including purchased and written European-style put and call options on RSP that are customized for strike prices, expiration dates, and exercise styles, with settlement guaranteed by the Options Clearing Corporation; it may also hold cash equivalents, short-term U.S. government securities, repurchase agreements, certificates of deposit, and commercial paper for liquidity or defensive purposes. RSSE operates within the large-cap U.S. equity segment, targeting investors seeking defined outcome strategies with downside protection and capped upside exposure, and trades principally on NYSE Arca. Launched on September 20, 2024, RSSE forms part of First Trust Exchange-Traded Fund VIII, a Massachusetts business trust organized in 2016 and advised by First Trust Advisors L.P., with sub-advisory services from Vest Financial LLC; First Trust Advisors L.P., an affiliate of distributor First Trust Portfolios L.P., is headquartered in Wheaton, Illinois. The fund's initial Target Outcome Period ran from September 23, 2024, through September 19, 2025, with an upside cap of approximately 14.71%, and subsequent periods feature new caps disclosed via prospectus supplements and the fund's website. In recent developments, First Trust Advisors L.P. has expanded its Target Outcome ETF lineup, including the launch of new income-focused funds such as FT Vest Investment Grade & Target Income ETF (LQTI), FT Vest High Yield & Target Income ETF (HYTI), and FT Vest 20+ Year Treasury & Target Income ETF (LTTI) in February 2025, in partnership with sub-advisor Vest Financial LLC, bringing its total Target Outcome assets under management to over $27 billion as of January 2025. The firm also completed mergers of several closed-end energy funds into FT Energy Income Partners Enhanced Income ETF (EIPI) in May 2024 and reorganizations of WCM funds into First Trust ETFs in October 2024, alongside routine distribution announcements in December 2025, reflecting ongoing strategic growth in ETF offerings without direct impact on RSSE operations. As of late 2025, RSSE maintains assets under management of approximately $23 million, with holdings concentrated in five FLEX Option positions and oversight by fund managers Karan Sood and Howard Rubin.