- Business
- First Trust Exchange-Traded Fund VIII – FT Vest Emerging Markets Buffer ETF – December (NYSE Arca: TDEC) is a U.S.-domiciled actively managed exchange-traded fund designed to provide investors with exposure to emerging-markets equities while seeking to limit a predetermined portion of downside risk over an approximately one-year target outcome period ending in December. The Fund primarily invests in customized, exchange-traded FLEX Options referencing the iShares MSCI Emerging Markets ETF, which in turn provides exposure to large- and mid-capitalization companies in emerging-market countries. Its investment strategy combines purchased and written FLEX Options and cash or cash-equivalent collateral to seek a stated downside buffer against losses in the reference ETF, before fees and expenses, while capping potential gains for each target outcome period; the buffer and cap are reset at the start of each annual December outcome period and vary with market conditions. The Fund’s products and services consist of publicly traded ETF shares, target-outcome emerging-markets equity exposure, options-based risk-management exposure, buffered-loss participation, capped-upside participation, daily portfolio transparency, and creation and redemption facilities for authorized participants.
TDEC targets retail investors, financial advisers, institutional investors, and other market participants seeking a defined-outcome approach to emerging-markets equity investing. The Fund is non-diversified and may obtain indirect exposure to issuers across emerging-market regions, including Asia, Latin America, Europe, the Middle East, and Africa; it is subject to risks associated with emerging markets, foreign securities, currency movements, political and regulatory developments, equity markets, derivatives, counterparty exposures, and FLEX Option liquidity and valuation. The Fund is a series of First Trust Exchange-Traded Fund VIII, an open-end management investment company registered under the Investment Company Act of 1940. First Trust Advisors L.P. serves as investment adviser, and First Trust Portfolios L.P., an affiliate of the adviser, serves as distributor; the Target Outcome trademarks are owned by Vest Financial LLC. First Trust Exchange-Traded Fund VIII is headquartered at 120 East Liberty Drive, Suite 400, Wheaton, Illinois, United States.
The Fund remains operational within First Trust’s FT Vest Target Outcome ETF platform and continues to report portfolio information and shareholder disclosures with the U.S. Securities and Exchange Commission. Recent developments include the continued annual reset of TDEC’s December target-outcome strategy, under which a new upside cap is established based on prevailing market conditions, and the expansion of the broader FT Vest emerging-markets buffered ETF lineup through additional outcome-period offerings, including the FT Vest Emerging Markets Buffer ETF – June and the FT Vest Laddered Emerging Markets Buffer ETF. As of 2026, TDEC continues to operate as an individual December-dated series within First Trust Exchange-Traded Fund VIII rather than as a standalone operating company.