First Trust Lists March Series of Target Outcome ETFs Buffer Strategies Based on QQQ, EFA and SPY
First Trust Advisors L.P. (“First Trust”) a leading exchange-traded fund (“ETF”) provider and asset manager, announced today that it has expanded its suite of Target Outcome ETFs with Buffer Strategies based on Invesco QQQ TrustSM Series 1 ("QQQ") and iShares MSCI EAFE ETF (“EFA”), as well as Buffer and Deep Buffer Strategies based on SPDR S&P 500 ETF Trust ("SPY").
The funds are actively managed ETFs that are designed to help investors maintain a level of protection in down markets, while taking advantage of growth opportunities in up markets to a maximum cap. The funds seek to provide targeted market exposure to underlying ETFs (“reference assets”) that are based on market indexes, while providing a defined downside buffer level, over a specific Target Outcome Period, which First Trust believes removes some of the uncertainty associated with investing.
Outcome period values for the March Series of the Target Outcome ETFs are shown below:
TICKER |
CAP* |
BUFFER |
UNDERLYING ETF |
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QMAR |
15.51% (Gross) 14.61% (Net) |
10% |
QQQ |
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YMAR |
14.18% (Gross) 13.29% (Net) |
10% |
EFA |
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FMAR |
14.20% (Gross) 13.35% (Net) |
10% |
SPY |
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DMAR |
9.30% (Gross) 8.45% (Net) |
25%** |
SPY |
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*The upside caps shown are for the Target Outcome Period from 3/22/2021 – 3/18/2022. 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 the 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.