SQMX
The investment objective of the FT Vest U.S. Equity Quarterly Max Buffer ETF (the "Fund") is to seek to provide investors with returns (before fees and expenses) that match the price return of the SPDR S&P 500 ETF (the "Underlying ETF") up to a predetermined upside cap while seeking to provide the maximum available buffer (before fees and expenses), against Underlying ETF losses over an approximate period of three months (the "Target Outcome Period"). Over the Target Outcome Period from December 22, 2025 to March 20, 2026, the Fund seeks to buffer against the first 10.58% of Underlying ETF losses and limit gains up to a predetermined upside cap of 3.00%. When the Fund's fees and expenses are taken into account, the cap is 2.79% and the buffer is 10.37%.