FT Vest U.S. Equity Quarterly 20 Barrier ETF

SQBR utilizes a target outcome strategy with FLEX Options to provide a buffer against the first 20% of losses in the SPDR S&P 500 ETF (SPY) over a three-month Target Outcome Period. In exchange for this protection, the fund sets an upside cap of at least 3%. Losses that exceed the buffer result in a direct one-to-one impact on the fund. To achieve the intended results, shares must be held throughout the entire period. At the end of each Target Outcome Period, the fund resets its cap and buffer levels according to current market conditions. It is important to note that the calculations for cap and buffer do not include the fund's expense ratio, which could diminish net returns. This strategy is designed to adapt quarterly, responding to market trends while seeking to balance risk and return.