First Trust Portfolios Canada Announces Cap, Buffer and Dates of November Buffer ETF

TORONTO, Nov. 15, 2024 (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 Vest U.S. Equity Buffer ETF – NOV (NOVB.F) (the “fund” or “November Buffer ETF”) are as follows:

The previous Target Outcome Period for NOVB.F concluded on November 15, 2024 and the upside cap for the new Target Outcome Period has been reset to prevailing market conditions.

Article content

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 Vest Financial LLC (“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 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.

Article content

Article content

For further information: Media Contact: Nilesh Patel, FT Portfolios Canada Co., 40 King Street West, Suite 5102, email: [email protected], 1-877-622-5552.

Article content

There may be commissions, management fees and expenses associated with ETF investments. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus of the fund before investing. Contact FT Portfolios Canada at 1-877-622-5552 or visit www.firsttrust.ca to obtain a copy of the prospectus and ETF Facts for the fund.

Important Information

The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. Financial advisors are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.

First Trust Advisors L.P. is the portfolio advisor to the fund. First Trust Advisors L.P. is an affiliate of FT Portfolios Canada Co., the trustee, manager and promoter of the fund.

Further information about First Trust Canada’s ETFs can be found at www.firsttrust.ca.

Article content