(MENAFN- GlobeNewsWire - Nasdaq)
TORONTO, May 19, 2023 (GLOBE NEWSWIRE) -- ft portfolios canada co. (“First Trust Canada”), announced today that the cap, buffer and dates for the next Target Outcome Period for the First Trust Cboe Vest U.S. Equity Buffer ETF – May (MAYB.F) (the“fund” or“May Buffer ETF”) are as follows:
| TICKER || CAP || BUFFER || OUTCOME PERIOD |
| MAYB.F || 17.65% (Gross) || 10% || 23/05/2023 – 17/05/2024 |
The previous Target Outcome Period for MAYB.F concluded on May 19, 2023 and the upside cap for the new Target Outcome Period has been reset to prevailing market conditions.
The fund seeks an outcome that provides investors with returns (before fees, expenses and taxes) that match the price return of the SPDR® S&P 500® ETF Trust (“SPY” or“underlying ETF”), up to a predetermined upside cap, while providing a buffer against potential SPY losses. The fund is managed and sub-advised by Cboe Vest Financial LLC (“Cboe Vest”) using a“target outcome strategy” or pre-determined target investment outcome.
If an investor purchases hedged units after the first day of the Target Outcome Period, they will likely have a different return potential than an investor who purchased hedged units at the start of the Target Outcome Period and the buffer the fund seeks may not be available.
First Trust Canada believes a buffer against a level of losses can help investors stay invested during volatile times. The fund offers a way to gain access to outcome-based investing-specifically to buffer against a level of downside risk while allowing growth to a maximum cap-eliminating bank credit risk, in a convenient, flexible investment vehicle.
Karan Sood and Howard Rubin, of Cboe Vest, serve as a portfolio managers for the fund. The portfolio managers are jointly and primarily responsible for making investment management decisions for the fund.
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.