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Name | Symbol | Market | Type |
---|---|---|---|
First Trust Vest US Equtiy Buffer ETF August | TSX:AUGB.F | Toronto | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.02 | 0.05% | 44.14 | 43.93 | 44.30 | 44.14 | 44.11 | 44.11 | 780 | 21:00:04 |
“Our goal at First Trust Canada is to provide high-quality, innovative tools for investment advisors. We believe this ETF will be effective for those seeking equity-like upside potential for their clients, with a level of downside protection,” said Karl Cheong, CFA, Head of Distribution at First Trust Canada. The fund seeks to limit the uncertainty of equity market exposure over a defined target outcome period by combining a buffer of protection with upside growth potential, to the predetermined cap levels.
“Investors want to reduce their exposure to downside risk in equities, while retaining the opportunity for meaningful upside returns. We are delighted to work with First Trust Canada to offer an ETF which provides a 10% buffer on U.S. Large Cap Equities, providing an opportunity for upside potential while shielding against a level of losses,” said Karan Sood, CEO of Cboe Vest.
Risk Considerations
The fund’s investment strategy is designed to deliver returns that match the price return of the underlying ETF (before fees, expenses and taxes) if the fund’s hedged units are purchased on the day on which the fund enters into the FLEX Options (i.e., the first day of the applicable target outcome period) and held for the entire target outcome period, subject to a pre-determined cap, or until those FLEX Options expire at the end of the target outcome period. If an investor does not hold its hedged units for an entire target outcome period, the returns realized by that investor may not match those the fund seeks to achieve. In the event an investor purchases hedged units of the fund after the first day of a target outcome period or sells hedged units prior to the expiration of the target outcome period, the value of that investor’s investment may not be buffered against a decline in the market price of the underlying ETF and may not participate in a gain as a result of an increase in the market price of the underlying ETF up to the pre-determined cap for the investor’s investment period.
About First TrustFirst Trust Canada is the trustee, manager and promoter of the fund. First Trust Canada and its affiliates First Trust Advisors L.P. (“FTA”), portfolio advisor to the fund, an Ontario Securities Commission registered portfolio manager and U.S. Securities and Exchange Commission registered investment advisor, and First Trust Portfolios L.P. (“FTP”), a FINRA registered broker-dealer, are privately held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately US $134 billion as of July 31, 2019 through exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.
About Cboe Vest:Cboe Vest was established in 2012, has 12 employees in North America and as of July 18, 2019 had approximately US $220 million in assets under management or committed to management. Cboe Vest is an investment advisor located in the United States. First Trust Capital Partners, LLC, an affiliate of FT Portfolios Canada Co., owns a 44.3% ownership interest (49.3% voting) in Cboe Vest Group Inc., the holding company of Cboe Vest. For more information about Cboe Vest, visit www.cboevest.com, or contact Linda Werner at lwerner@cboevest.com or 703-864-5483.
Further information about First Trust Canada’s ETFs can be found at www.firsttrust.ca
Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.
For further information: Media Contact: Karl Cheong FT Portfolios Canada Co., 40 King Street West, Suite 5102, Email: karlcheong@firsttrust.ca, 1-877-622-5552
CONTACT: Karl CheongFT Portfolios Canada Co.1-877-622-5552karlcheong@firsttrust.ca
1 Year First Trust Vest US Equt... Chart |
1 Month First Trust Vest US Equt... Chart |
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