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

The FT Vest U.S. Equity Deep Buffer ETF - December (DDEC) is an actively managed exchange-traded fund listed on the Chicago Board Options Exchange (CBOE), issued by First Trust Advisors L.P. and sub-advised by Vest Financial, LLC, with approximately $358 million in market capitalization. The fund seeks to provide investors with returns that mirror the price performance of the SPDR S&P 500 ETF Trust (SPY), up to a predetermined upside cap of 11.96%, while offering a "deep buffer" that protects against benchmark ETF losses within the 5% to 30% range — all before fees and expenses — over a defined outcome period from December 22, 2025 through December 18, 2026. DDEC achieves its investment objective primarily through FLexible EXchange® (FLEX) Options that reference SPY, maintaining a highly concentrated portfolio with a net expense ratio of 0.85%. Launched on December 18, 2020 and domiciled in the United States, DDEC is designed for investors seeking risk-managed equity exposure with a defined downside buffer and capped upside participation over a specific annual holding period.