FT Vest U.S. Small Cap Moderate Buffer ETF - May
SMAY
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
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Todd William Miller
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 120 East Liberty Drive, Suite 400 Wheaton IL United States of America 60187
- IPO Date
- May 22, 2023
- Website
- ftportfolios.com
- Similar Companies
- Business
- FT Vest U.S. Small Cap Moderate Buffer ETF - May (NYSE Arca: SMAY) is an exchange-traded fund that seeks to provide investors with capital appreciation linked to the U.S. small-cap equity market while offering a moderate downside buffer against the ETF's benchmark index for the one-year period ending in May each year. The fund employs a data-driven options strategy overlay on the Northern Trust S&P SmallCap 600 Index, delivering targeted buffer protection of approximately 10% to 20% against declines in the underlying index; quarterly rebalancing and FLEX options ensure precise outcome delivery through the buffer period reset each May. Managed by First Trust Portfolios L.P., the ETF targets sophisticated investors seeking equity-like upside potential with defined risk mitigation in the small-cap segment of the U.S. equity market. Headquartered in Wheaton, Illinois, First Trust launched SMAY in May 2023 as part of its suite of buffer ETFs sponsored by FT Vest LLC, a First Trust affiliate focused on outcome-based investment solutions. The fund operates primarily in the United States, with shares listed on the NYSE Arca exchange and available to retail and institutional investors through standard brokerage platforms. No major subsidiaries or parent company relationships beyond First Trust's broader advisory structure apply directly to SMAY. In recent developments, FT Vest expanded its buffer ETF lineup with launches including the FT Vest U.S. Equity Moderate Buffer ETF - May (ticker: BUFR) in early 2025, enhancing its defined-outcome offerings amid rising demand for buffered equity exposure; the firm also announced strategic enhancements to its options overlay technology in Q3 2025 to improve buffer precision and tracking efficiency. Additionally, First Trust reported record assets under management surpassing $200 billion in late 2024, driven partly by inflows into buffer strategies like SMAY amid volatile small-cap performance. These moves reflect FT Vest's ongoing commitment to innovation in target-outcome ETFs without any reported acquisitions, partnerships, or reorganizations specific to SMAY in the past two years.