FT Vest U.S. Equity Deep Buffer ETF - August

The FT Vest U.S. Equity Deep Buffer ETF - August (DAUG) is an exchange-traded fund launched on November 6, 2019, and listed on the Cboe BZX Exchange, managed by First Trust Advisors L.P. with Vest Financial, LLC serving as sub-adviser. The fund seeks to provide investors with returns that match the price performance of the SPDR S&P 500 ETF Trust (SPY), subject to a predetermined upside cap of 11.98%, while offering a "deep buffer" that protects against Underlying ETF losses between -5% and -30% over a one-year target outcome period from August 18, 2025 to August 21, 2026. To achieve these defined outcomes, DAUG invests substantially all of its assets in FLexible EXchange Options (FLEX Options) — customizable equity option contracts that allow precise control over key terms such as exercise prices, styles, and expiration dates. With approximately $364 million in assets under management and a total expense ratio of 0.85%, DAUG is a non-diversified, defined outcome fund designed for investors seeking structured downside protection with capped upside participation in U.S. large-cap equity markets.