First Trust Lists January Series of Target Outcome Buffer ETFs

First Trust Advisors L.P. (“First Trust”) a leading exchange-traded fund (“ETF”) provider and asset manager, announced today that it launched the January Series of Target Outcome ETFs. The FT Cboe Vest U.S. Equity Buffer ETF–January (Cboe: FJAN) and the FT Cboe Vest U.S. Equity Deep Buffer ETF–January (Cboe: DJAN) (collectively, the “funds” or “January Series”). The funds are the latest additions to First Trust’s suite of Buffer ETFs, which has over $1.6B in total net assets for the product line as of 12/31/20 and is among the fastest growing in the Target Outcome Investments/defined outcome space.

The funds seek an outcome that provides investors with returns (before fees and expenses) 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 funds are managed and sub-advised by Cboe Vest Financial LLC (“Cboe Vest”) using a “target outcome strategy” or pre-determined target investment outcome. Cboe Vest is the creator of Target Outcome Investments and manager of the longest running buffer strategy fund.

Outcome period values for the January Series of the Target Outcome ETFs:

TICKER	CAP (Net)*	BUFFER	OUTCOME PERIOD
FJAN	14.50% (13.64%)	10%	1/19/2021 - 1/21/2022
DJAN	8.20% (7.34%)	25%**	1/19/2021 - 1/21/2022

*The upside caps shown are for the Target Outcome Period from 1/19/2021 – 1/21/2022. The gross cap is before fees, expenses and taxes. The net cap is after fees and expenses, excluding brokerage commissions, trading fees, taxes and extraordinary expenses not included in the funds’ management fee. The upside cap is set by a fund on inception date of the Target Outcome Period and is dependent upon market conditions at the time. The cap investors will experience may be different than what is illustrated herein.