FT Vest U.S. Equity Enhance & Moderate Buffer ETF - December

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC) is a non-diversified, actively managed exchange-traded fund listed on the Chicago Board Options Exchange (CBOE), managed by First Trust Advisors under the FT Vest brand since its inception on December 17, 2021. The fund seeks to provide investors with returns of approximately twice any positive price return of the SPDR® S&P 500® ETF Trust (SPY), up to a predetermined upside cap, while offering a buffer against the first 15% of losses over a defined one-year outcome period each December. To achieve this objective, XDEC invests substantially all of its assets in FLexible EXchange® Options (FLEX Options) referencing the price performance of the underlying SPY ETF, which itself employs a full replication strategy tracking all stocks in the S&P 500® Index. With approximately $200 million in market capitalization and a gross expense ratio of 0.85%, XDEC falls within the Defined Outcome category of financial products, offering a structured risk-return profile suited for investors seeking enhanced upside participation with downside protection.