FT Vest U.S. Equity Moderate Buffer ETF - May (GMAY)
FT Vest U.S. Equity Moderate Buffer ETF - May operates in the Asset Management industry of the Financial Services sector, headquartered in Wheaton, IL, US. The stock last traded at $43.94, up 0.10% on the session, giving a market capitalisation of $298.2M. Its beta of 0.42 implies it has historically moved less than the broad market.
GMAY uses options in an effort to moderate losses on shares of SPDR S&P 500 ETF Trust (ticker: SPY) over a one-year period, starting in May. The fund foregoes some upside return, as well as the dividend component of IWM because the options are written on the price (not total) return version of the shares, in exchange for preventing realization of the first 15% of the losses in SPY value. Should the shares of SPY decline greater than 15%, investors participate in the downside performance on a $1 for $1 basis. Shares must be held over a specific period to pursue the intended results. At the end of the target outcome period, the fund will reset for a new outcome period tied to the same index and buffer, but the cap may change based on market rates. The targeted cap and buffer do not include the funds expense ratio and should be taken into consideration. The fund is actively managed and uses FLEX options on SPY shares exclusively.
FT Vest U.S. Equity Moderate Buffer ETF - May is most often compared with the following Financial Services names: