FT Vest Laddered Autocallable Buffer & Resilient Income ETF is an actively managed exchange-traded fund that seeks to provide investor distributions while reducing downside risk to equity markets. The fund uses swaps and options to obtain exposure to a laddered portfolio of synthetic autocallable contracts designed to replicate the characteristics of autocallable yield notes. It maintains exposure to at least 24 contracts with staggered maturity and observation dates, with a maturity buffer intended to reduce losses from the worst-performing underlying asset at maturity. The fund may also use U.S. Treasury securities and box spreads as collateral.