FT Vest U.S. Small Cap Moderate Buffer ETF - November
SNOV
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
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Venkat V. Reddy
- Full Time Employees
- 65
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 120 East Liberty Drive, Suite 400 Wheaton IL United States of America 60187
- IPO Date
- Nov 20, 2023
- Website
- ftportfolios.com
- Similar Companies
- Business
- FT Vest U.S. Small Cap Moderate Buffer ETF - November (SNOV) is an actively managed exchange-traded fund that seeks to provide investors with returns, before fees and expenses, that match the price return of the iShares Russell 2000 ETF up to a predetermined upside cap while offering a moderate buffer against the first 10%-15% of losses over a one-year target outcome period ending in November each year; the fund employs FLEX options on the iShares Russell 2000 ETF, including calls at various strike prices, puts, and cash collateral, with top holdings typically comprising over 99% in such customized options and U.S. dollars. The ETF, launched on November 17, 2023, is issued by First Trust Exchange-Traded Fund VIII, advised by First Trust Advisors L.P., and sub-advised by Vest Financial LLC using proprietary target outcome strategies; First Trust Advisors L.P., founded in 1991 and headquartered in Wheaton, Illinois with additional offices in Austin, Texas and Franklin, Tennessee, serves as the investment adviser, while First Trust Portfolios L.P. acts as distributor. The fund targets investors seeking defined outcome exposure to U.S. small-cap equities, primarily tracking the Russell 2000 Index through its reference ETF, with operations domiciled in the United States and listed on the BATS exchange; it holds a concentrated portfolio of 4-6 positions focused on options referencing small-cap blend style investments, exhibiting characteristics of non-diversified holdings susceptible to small-cap volatility. Geographically, the fund provides indirect exposure to U.S. small-cap stocks via the iShares Russell 2000 ETF, encompassing domestic equities across sectors without direct international operations. In recent developments, First Trust Advisors L.P. completed mergers of four energy-related closed-end funds into the FT Energy Income Partners Enhanced Income ETF (EIPI) in May 2024, consolidating assets in a tax-free reorganization; the firm expanded its Target Outcome ETF lineup, including FT Vest branded funds sub-advised by Vest Financial LLC, with launches of three new Target Income ETFs—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, growing the overall Target Outcome suite to over 106 funds with $27 billion in assets as of January 2025. Additionally, First Trust was appointed as a sub-advisor to the First Trust Multi-Strategy Fund in July 2025 alongside existing sub-advisors including Vest Financial LLC, reflecting ongoing strategic enhancements in outcome-oriented and multi-asset strategies. These initiatives underscore First Trust's focus on derivatives-based innovations and ETF portfolio expansion amid growing demand for buffered and income-targeted products.