FIRST TRUST
First Trust Exchange-Traded Fund VIII
--------------------------------------------------------------------------------
FT Cboe Vest U.S. Equity Buffer ETF - January (FJAN)
FT Cboe Vest U.S. Equity Deep Buffer ETF - January (DJAN)
FT Cboe Vest U.S. Equity Buffer ETF - February (FFEB)
FT Cboe Vest U.S. Equity Deep Buffer ETF - February (DFEB)
FT Cboe Vest U.S. Equity Buffer ETF - March (FMAR)
FT Cboe Vest U.S. Equity Deep Buffer ETF - March (DMAR)
FT Cboe Vest U.S. Equity Buffer ETF - April (FAPR)
FT Cboe Vest U.S. Equity Deep Buffer ETF - April (DAPR)
FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY)
FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY)
FT Cboe Vest U.S. Equity Buffer ETF - June (FJUN)
FT Cboe Vest U.S. Equity Deep Buffer ETF - June (DJUN)
FT Cboe Vest U.S. Equity Buffer ETF - July (FJUL)
FT Cboe Vest U.S. Equity Deep Buffer ETF - July (DJUL)
FT Cboe Vest U.S. Equity Buffer ETF - August (FAUG)
FT Cboe Vest U.S. Equity Deep Buffer ETF - August (DAUG)
FT Cboe Vest U.S. Equity Buffer ETF - September (FSEP)
FT Cboe Vest U.S. Equity Deep Buffer ETF - September (DSEP)
FT Cboe Vest U.S. Equity Buffer ETF - October (FOCT)
FT Cboe Vest U.S. Equity Deep Buffer ETF - October (DOCT)
FT Cboe Vest U.S. Equity Buffer ETF - November (FNOV)
FT Cboe Vest U.S. Equity Deep Buffer ETF - November (DNOV)
FT Cboe Vest U.S. Equity Buffer ETF - December (FDEC)
FT Cboe Vest U.S. Equity Deep Buffer ETF - December (DDEC)
FT Cboe Vest Buffered Allocation Defensive ETF (BUFT)
FT Cboe Vest Buffered Allocation Growth ETF (BUFG)
----------------------------
Semi-Annual Report
For the Six Months Ended
February 28, 2023
----------------------------
--------------------------------------------------------------------------------
TABLE OF CONTENTS
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
SEMI-ANNUAL REPORT
FEBRUARY 28, 2023
Shareholder Letter.......................................................... 2
Fund Performance Overview
FT Cboe Vest U.S. Equity Buffer ETF - January (FJAN).................... 3
FT Cboe Vest U.S. Equity Deep Buffer ETF - January (DJAN)............... 4
FT Cboe Vest U.S. Equity Buffer ETF - February (FFEB)................... 5
FT Cboe Vest U.S. Equity Deep Buffer ETF - February (DFEB).............. 6
FT Cboe Vest U.S. Equity Buffer ETF - March (FMAR)...................... 7
FT Cboe Vest U.S. Equity Deep Buffer ETF - March (DMAR)................. 8
FT Cboe Vest U.S. Equity Buffer ETF - April (FAPR)...................... 9
FT Cboe Vest U.S. Equity Deep Buffer ETF - April (DAPR)................. 10
FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY)........................ 11
FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY)................... 12
FT Cboe Vest U.S. Equity Buffer ETF - June (FJUN)....................... 13
FT Cboe Vest U.S. Equity Deep Buffer ETF - June (DJUN).................. 14
FT Cboe Vest U.S. Equity Buffer ETF - July (FJUL)....................... 15
FT Cboe Vest U.S. Equity Deep Buffer ETF - July (DJUL).................. 16
FT Cboe Vest U.S. Equity Buffer ETF - August (FAUG)..................... 17
FT Cboe Vest U.S. Equity Deep Buffer ETF - August (DAUG)................ 18
FT Cboe Vest U.S. Equity Buffer ETF - September (FSEP).................. 19
FT Cboe Vest U.S. Equity Deep Buffer ETF - September (DSEP)............. 20
FT Cboe Vest U.S. Equity Buffer ETF - October (FOCT).................... 21
FT Cboe Vest U.S. Equity Deep Buffer ETF - October (DOCT)............... 22
FT Cboe Vest U.S. Equity Buffer ETF - November (FNOV)................... 23
FT Cboe Vest U.S. Equity Deep Buffer ETF - November (DNOV).............. 24
FT Cboe Vest U.S. Equity Buffer ETF - December (FDEC)................... 25
FT Cboe Vest U.S. Equity Deep Buffer ETF - December (DDEC).............. 26
FT Cboe Vest Buffered Allocation Defensive ETF (BUFT)................... 27
FT Cboe Vest Buffered Allocation Growth ETF (BUFG)...................... 28
Notes to Fund Performance Overview.......................................... 29
Portfolio Management........................................................ 30
Understanding Your Fund Expenses............................................ 31
Portfolio of Investments
FT Cboe Vest U.S. Equity Buffer ETF - January (FJAN).................... 34
FT Cboe Vest U.S. Equity Deep Buffer ETF - January (DJAN)............... 36
FT Cboe Vest U.S. Equity Buffer ETF - February (FFEB)................... 38
FT Cboe Vest U.S. Equity Deep Buffer ETF - February (DFEB).............. 40
FT Cboe Vest U.S. Equity Buffer ETF - March (FMAR)...................... 42
FT Cboe Vest U.S. Equity Deep Buffer ETF - March (DMAR)................. 44
FT Cboe Vest U.S. Equity Buffer ETF - April (FAPR)...................... 46
FT Cboe Vest U.S. Equity Deep Buffer ETF - April (DAPR)................. 48
FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY)........................ 50
FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY)................... 52
FT Cboe Vest U.S. Equity Buffer ETF - June (FJUN)....................... 54
FT Cboe Vest U.S. Equity Deep Buffer ETF - June (DJUN).................. 56
FT Cboe Vest U.S. Equity Buffer ETF - July (FJUL)....................... 58
FT Cboe Vest U.S. Equity Deep Buffer ETF - July (DJUL).................. 60
FT Cboe Vest U.S. Equity Buffer ETF - August (FAUG)..................... 62
FT Cboe Vest U.S. Equity Deep Buffer ETF - August (DAUG)................ 64
FT Cboe Vest U.S. Equity Buffer ETF - September (FSEP).................. 66
FT Cboe Vest U.S. Equity Deep Buffer ETF - September (DSEP)............. 68
FT Cboe Vest U.S. Equity Buffer ETF - October (FOCT).................... 70
FT Cboe Vest U.S. Equity Deep Buffer ETF - October (DOCT)............... 72
FT Cboe Vest U.S. Equity Buffer ETF - November (FNOV)................... 74
FT Cboe Vest U.S. Equity Deep Buffer ETF - November (DNOV).............. 76
FT Cboe Vest U.S. Equity Buffer ETF - December (FDEC)................... 78
FT Cboe Vest U.S. Equity Deep Buffer ETF - December (DDEC).............. 80
FT Cboe Vest Buffered Allocation Defensive ETF (BUFT)................... 82
FT Cboe Vest Buffered Allocation Growth ETF (BUFG)...................... 83
--------------------------------------------------------------------------------
TABLE OF CONTENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
SEMI-ANNUAL REPORT
FEBRUARY 28, 2023
Statements of Assets and Liabilities........................................ 84
Statements of Operations.................................................... 90
Statements of Changes in Net Assets......................................... 96
Financial Highlights........................................................ 107
Notes to Financial Statements............................................... 120
Additional Information...................................................... 139
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This report contains certain forward-looking statements within the meaning of
the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934,
as amended. Forward-looking statements include statements regarding the goals,
beliefs, plans or current expectations of First Trust Advisors L.P. ("First
Trust" or the "Advisor") and/or Cboe Vest(SM) Financial LLC ("Cboe Vest" or the
"Sub-Advisor") and their respective representatives, taking into account the
information currently available to them. Forward-looking statements include all
statements that do not relate solely to current or historical fact. For example,
forward-looking statements include the use of words such as "anticipate,"
"estimate," "intend," "expect," "believe," "plan," "may," "should," "would" or
other words that convey uncertainty of future events or outcomes.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or achievements of
the series of First Trust Exchange-Traded Fund VIII (the "Trust") described in
this report (each such series is referred to as a "Fund" and collectively, as
the "Funds") to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. When
evaluating the information included in this report, you are cautioned not to
place undue reliance on these forward-looking statements, which reflect the
judgment of the Advisor and/or Sub-Advisor and their respective representatives
only as of the date hereof. We undertake no obligation to publicly revise or
update these forward-looking statements to reflect events and circumstances that
arise after the date hereof.
PERFORMANCE AND RISK DISCLOSURE
There is no assurance that any Fund described in this report will achieve its
investment objective. Each Fund is subject to market risk, which is the
possibility that the market values of securities owned by the Fund will decline
and that the value of the Fund's shares may therefore be less than what you paid
for them. Accordingly, you can lose money investing in a Fund. See "Risk
Considerations" in the Additional Information section of this report for a
discussion of certain other risks of investing in the Funds.
Performance data quoted represents past performance, which is no guarantee of
future results, and current performance may be lower or higher than the figures
shown. For the most recent month-end performance figures, please visit
www.ftportfolios.com or speak with your financial advisor. Investment returns,
net asset value and share price will fluctuate and Fund shares, when sold, may
be worth more or less than their original cost.
The Advisor may also periodically provide additional information on Fund
performance on each Fund's webpage at www.ftportfolios.com.
HOW TO READ THIS REPORT
This report contains information that may help you evaluate your investment. It
includes details about each Fund and presents data and analysis that provide
insight into each Fund's performance and investment approach.
The statistical information that follows may help you understand each Fund's
performance compared to that of a relevant market benchmark.
It is important to keep in mind that the opinions expressed by personnel of the
Advisor and/or Sub-Advisor are just that: informed opinions. They should not be
considered to be promises or advice. The opinions, like the statistics, cover
the period through the date on the cover of this report. The material risks of
investing in each Fund are spelled out in the prospectus, statement of
additional information, and other Fund regulatory filings.
Page 1
--------------------------------------------------------------------------------
SHAREHOLDER LETTER
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
SEMI-ANNUAL LETTER FROM THE CHAIRMAN AND CEO
FEBRUARY 28, 2023
Dear Shareholders:
First Trust is pleased to provide you with the semi-annual report for certain
series of the First Trust Exchange-Traded Fund VIII (the "Funds"), which
contains detailed information about the Funds for the six-month period ended
February 28, 2023.
As I write this letter in late March, the global financial and banking sectors
are sifting through the rubble of several bank failures in the U.S. and
absorbing the news of a merger between two of Switzerland's largest banks. As
many investors may be aware, despite this news, the Federal Reserve (the "Fed")
announced an additional 25 basis point increase to the Federal Funds target rate
(upper bound) at their March 22, 2023 meeting. This brings the Federal Funds
target rate (upper bound) to 5.0%, its highest level since June 2006. The Fed's
resolve in fighting inflation is notable, but they find themselves in an
unenviable situation, in my opinion. On the one hand, if the Fed becomes overly
restrictive, they could run the risk of ushering in an economic recession. On
the other hand, inflation (which we will discuss further in a moment) is still
well-above the Fed's stated target level of 2.0%, which could indicate that
higher rates may be required to rein in stubbornly high prices.
Since peaking at 9.1% in June 2022, inflation, as measured by the trailing
12-month rate of change in the Consumer Price Index ("CPI"), has been trending
downward. While this is welcome news, the CPI, which stood at 6.0% on February
28, 2023, is still at a level not seen since 1990, according to data from the
U.S. Bureau of Labor Statistics (excluding October 2021, when it was trending
towards its June 2022 peak of 9.1%). In a positive sign, inflation does not
appear to have slowed the pace of U.S. consumer spending. In January 2023,
consumer spending, as measured by personal consumption expenditures ("PCE"),
grew by 1.8% month-over-month, the largest increase in the metric since March
2021, according to Reuters. There is no way to know if this trend will continue,
but a healthy consumer, as measured by continued growth in PCE, may be the key
to the U.S. avoiding a recession, in my opinion.
The Federal Reserve Bank of New York reported that an inverted U.S. yield curve
is a historically reliable signal that a recession could occur in the next
twelve months, according to Forbes. As of March 22, 2023, the yield on the
2-Year Treasury Note ("T-Note") stood 50 basis points above the yield on the
10-Year T-Note. Brian Wesbury, Chief Economist at First Trust, recently noted
that an inverted yield curve "is consistent with risk aversion among investors
and in Corporate America. We expect prolonged weakness in business investment in
equipment as well as in commercial construction. And, after surging rapidly last
year, the pace of inventory accumulation should cool off too. Combined, these
should pose a big headwind for gross domestic product growth later this year."
Whether these headwinds grow into an economic recession remains to be seen, but
the Fed will be paying close attention as they try to achieve their best-case
scenario of a "soft landing" for the U.S. economy.
Thank you for giving First Trust the opportunity to play a role in your
financial future. We value our relationship with you and will report on the
Funds again in six months.
Sincerely,
/s/ James A. Bowen
James A. Bowen
Chairman of the Board of Trustees
Chief Executive Officer of First Trust Advisors L.P.
Page 2
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - JANUARY (FJAN)
The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - January
(the "Fund") is to seek to provide investors with returns (before fees, expenses
and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF Trust (the
"Underlying ETF"), up to a predetermined upside cap of 19.04% (before fees,
expenses and taxes) and 18.19% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee), while providing a buffer against the first 10% (before
fees, expenses and taxes) of Underlying ETF losses, over the period from January
23, 2023 to January 19, 2024 (the "Outcome Period").* Under normal market
conditions, the Fund will invest substantially all of its assets in FLexible
EXchange(R) Options ("FLEX Options") that reference the price performance of the
Underlying ETF. Subsequent Outcome Periods will begin on the day the prior
Outcome Period ends and will end on the approximate one-year anniversary of that
new Outcome Period. On the first day of each new Outcome Period, the Fund resets
by investing in a new set of FLEX Options that are designed to provide a new cap
for the new Outcome Period. This means that the cap will change for each Outcome
Period based upon prevailing market conditions at the beginning of each Outcome
Period. The Fund will be perpetually offered and not terminate after the current
or any subsequent Outcome Period. An investor that purchases Fund shares other
than on the first day of an Outcome Period and/or sells Fund shares prior to the
end of an Outcome Period may experience results that are very different from the
target outcomes sought by the Fund for that Outcome Period. The Fund is
classified as non-diversified under the Investment Company Act of 1940, as
amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange,
Inc., under the ticker symbol "FJAN."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (1/15/21) (1/15/21)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 5.10% -0.47% 5.98% 13.11%
Market Price 5.26% -0.32% 6.01% 13.17%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 2.49% 5.36%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
JANUARY 15, 2021 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Buffer ETF - January Price Return
1/15/21 $10,000 $10,000
2/28/21 10,053 10,114
8/31/21 11,101 12,002
2/28/22 11,364 11,607
8/31/22 10,762 10,496
2/28/23 11,311 10,536
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to January 23, 2023, the Fund's investment objective included an
upside cap of 14.20% (before fees, expenses and taxes) and 13.35% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of January 24, 2022 to January 20, 2023.
Page 3
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JANUARY (DJAN)
The investment objective of the FT Cboe Vest U.S. Equity Deep Buffer ETF -
January (the "Fund") is to seek to provide investors with returns (before fees,
expenses and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF
Trust (the "Underlying ETF"), up to a predetermined upside cap of 14.70% (before
fees, expenses and taxes) and 13.85% (after fees and expenses, excluding
brokerage commissions, trading fees, taxes and extraordinary expenses not
included in the Fund's management fee), while providing a buffer against
Underlying ETF losses between -5% and -30% (before fees, expenses and taxes),
over the period from January 23, 2023 to January 19, 2024 (the "Outcome
Period").* Under normal market conditions, the Fund will invest substantially
all of its assets in FLexible EXchange(R) Options ("FLEX Options") that
reference the price performance of the Underlying ETF. Subsequent Outcome
Periods will begin on the day the prior Outcome Period ends and will end on the
approximate one-year anniversary of that new Outcome Period. On the first day of
each new Outcome Period, the Fund resets by investing in a new set of FLEX
Options that are designed to provide a new cap for the new Outcome Period. This
means that the cap will change for each Outcome Period based upon prevailing
market conditions at the beginning of each Outcome Period. The Fund will be
perpetually offered and not terminate after the current or any subsequent
Outcome Period. An investor that purchases Fund shares other than on the first
day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome
Period may experience results that are very different from the target outcomes
sought by the Fund for that Outcome Period. The Fund is classified as
non-diversified under the Investment Company Act of 1940, as amended. The shares
of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the
ticker symbol "DJAN."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (1/15/21) (1/15/21)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV -0.88% -5.43% 0.64% 1.36%
Market Price -1.01% -5.52% 0.61% 1.30%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 2.49% 5.36%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
JANUARY 15, 2021 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Deep Buffer ETF - January Price Return
1/15/21 $10,000 $10,000
2/28/21 10,033 10,114
8/31/21 10,625 12,002
2/28/22 10,719 11,607
8/31/22 10,226 10,496
2/28/23 10,136 10,536
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to January 23, 2023, the Fund's investment objective included an
upside cap of 9.03% (before fees, expenses and taxes) and 8.18% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of January 24, 2022 to January 20, 2023.
Page 4
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - FEBRUARY (FFEB)
The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - February
(the "Fund") is to seek to provide investors with returns (before fees, expenses
and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF Trust (the
"Underlying ETF"), up to a predetermined upside cap of 19.25% (before fees,
expenses and taxes) and 18.40% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee), while providing a buffer against the first 10% (before
fees, expenses and taxes) of Underlying ETF losses, over the period from
February 21, 2023 to February 16, 2024 (the "Outcome Period").* Under normal
market conditions, the Fund will invest substantially all of its assets in
FLexible EXchange(R) Options ("FLEX Options") that reference the price
performance of the Underlying ETF. Subsequent Outcome Periods will begin on the
day the prior Outcome Period ends and will end on the approximate one-year
anniversary of that new Outcome Period. On the first day of each new Outcome
Period, the Fund resets by investing in a new set of FLEX Options that are
designed to provide a new cap for the new Outcome Period. This means that the
cap will change for each Outcome Period based upon prevailing market conditions
at the beginning of each Outcome Period. The Fund will be perpetually offered
and not terminate after the current or any subsequent Outcome Period. An
investor that purchases Fund shares other than on the first day of an Outcome
Period and/or sells Fund shares prior to the end of an Outcome Period may
experience results that are very different from the target outcomes sought by
the Fund for that Outcome Period. The Fund is classified as non-diversified
under the Investment Company Act of 1940, as amended. The shares of the Fund are
listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol
"FFEB."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (2/21/20) (2/21/20)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 2.62% -2.73% 5.81% 18.58%
Market Price 2.77% -2.75% 5.80% 18.55%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 5.92% 18.95%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
FEBRUARY 21, 2020 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Buffer ETF - February Price Return
2/21/20 $10,000 $10,000
2/29/20 9,214 8,851
8/31/20 10,260 10,488
2/28/21 10,825 11,418
8/31/21 12,210 13,550
2/28/22 12,190 13,104
8/31/22 11,555 11,849
2/28/23 11,858 11,895
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to February 21, 2023, the Fund's investment objective included an
upside cap of 14.25% (before fees, expenses and taxes) and 13.40% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of February 22, 2022 to February 17, 2023.
Page 5
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - FEBRUARY (DFEB)
The investment objective of the FT Cboe Vest U.S. Equity Deep Buffer ETF -
February (the "Fund") is to seek to provide investors with returns (before fees,
expenses and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF
Trust (the "Underlying ETF"), up to a predetermined upside cap of 14.97% (before
fees, expenses and taxes) and 14.12% (after fees and expenses, excluding
brokerage commissions, trading fees, taxes and extraordinary expenses not
included in the Fund's management fee), while providing a buffer against
Underlying ETF losses between -5% and -30% (before fees, expenses and taxes),
over the period from February 21, 2023 to February 16, 2024 (the "Outcome
Period").* Under normal market conditions, the Fund will invest substantially
all of its assets in FLexible EXchange(R) Options ("FLEX Options") that
reference the price performance of the Underlying ETF. Subsequent Outcome
Periods will begin on the day the prior Outcome Period ends and will end on the
approximate one-year anniversary of that new Outcome Period. On the first day of
each new Outcome Period, the Fund resets by investing in a new set of FLEX
Options that are designed to provide a new cap for the new Outcome Period. This
means that the cap will change for each Outcome Period based upon prevailing
market conditions at the beginning of each Outcome Period. The Fund will be
perpetually offered and not terminate after the current or any subsequent
Outcome Period. An investor that purchases Fund shares other than on the first
day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome
Period may experience results that are very different from the target outcomes
sought by the Fund for that Outcome Period. The Fund is classified as
non-diversified under the Investment Company Act of 1940, as amended. The shares
of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the
ticker symbol "DFEB."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (2/21/20) (2/21/20)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV -3.15% -7.14% 2.33% 7.20%
Market Price -2.98% -7.22% 2.33% 7.20%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 5.92% 18.95%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
JANUARY 15, 2021 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Deep Buffer ETF - February Price Return
2/21/20 $10,000 $10,000
2/29/20 9,462 8,851
8/31/20 10,182 10,488
2/28/21 10,600 11,418
8/31/21 11,304 13,550
2/28/22 11,545 13,104
8/31/22 11,069 11,849
2/28/23 10,720 11,895
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to February 21, 2023, the Fund's investment objective included an
upside cap of 9.30% (before fees, expenses and taxes) and 8.45% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of February 22, 2022 to February 17, 2023.
Page 6
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - MARCH (FMAR)
The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - March (the
"Fund") is to seek to provide investors with returns that match the price return
of the SPDR(R) S&P 500(R) ETF Trust (the "Underlying ETF"), up to a
predetermined upside cap of 14.78% (before fees and expenses) and 13.93% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee), while
providing a buffer against the first 10% (before fees, expenses and taxes) of
Underlying ETF losses, over the period from March 21, 2022 to March 17, 2023
(the "Outcome Period").* Under normal market conditions, the Fund will invest
substantially all of its assets in FLexible EXchange(R) Options ("FLEX Options")
that reference the price performance of the Underlying ETF. Subsequent Outcome
Periods will begin on the day the prior Outcome Period ends and will end on the
approximate one-year anniversary of that new Outcome Period. On the first day of
each new Outcome Period, the Fund resets by investing in a new set of FLEX
Options that are designed to provide a new cap for the new Outcome Period. This
means that the cap will change for each Outcome Period based upon prevailing
market conditions at the beginning of each Outcome Period. The Fund will be
perpetually offered and not terminate after the current or any subsequent
Outcome Period. An investor that purchases Fund shares other than on the first
day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome
Period may experience results that are very different from the target outcomes
sought by the Fund for that Outcome Period. The Fund is classified as
non-diversified under the Investment Company Act of 1940, as amended. The shares
of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the
ticker symbol "FMAR."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (3/19/21) (3/19/21)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 3.93% -0.18% 4.93% 9.83%
Market Price 4.35% 0.06% 5.06% 10.10%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 0.75% 1.46%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
MARCH 19, 2021 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Buffer ETF - March Price Return
3/19/21 $10,000 $10,000
8/31/21 10,946 11,558
2/28/22 11,003 11,178
8/31/22 10,568 10,107
2/28/23 10,983 10,146
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to March 21, 2022, the Fund's investment objective included an
upside cap of 14.20% (before fees and expenses) and 13.35% (after fees and
expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of March 22, 2021 to March 18, 2022.
Page 7
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - MARCH (DMAR)
The investment objective of the FT Cboe Vest U.S. Equity Deep Buffer ETF - March
(the "Fund") is to seek to provide investors with returns that match the price
return of the SPDR(R) S&P 500(R) ETF Trust (the "Underlying ETF"), up to a
predetermined upside cap of 10.02% (before fees and expenses) and 9.17% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee), while
providing a buffer against Underlying ETF losses between -5% and -30% (before
fees, expenses and taxes), over the period from March 21, 2022 to March 17, 2023
(the "Outcome Period").* Under normal market conditions, the Fund will invest
substantially all of its assets in FLexible EXchange(R) Options ("FLEX Options")
that reference the price performance of the Underlying ETF. Subsequent Outcome
Periods will begin on the day the prior Outcome Period ends and will end on the
approximate one-year anniversary of that new Outcome Period. On the first day of
each new Outcome Period, the Fund resets by investing in a new set of FLEX
Options that are designed to provide a new cap for the new Outcome Period. This
means that the cap will change for each Outcome Period based upon prevailing
market conditions at the beginning of each Outcome Period. The Fund will be
perpetually offered and not terminate after the current or any subsequent
Outcome Period. An investor that purchases Fund shares other than on the first
day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome
Period may experience results that are very different from the target outcomes
sought by the Fund for that Outcome Period. The Fund is classified as
non-diversified under the Investment Company Act of 1940, as amended. The shares
of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the
ticker symbol "DMAR."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (3/19/21) (3/19/21)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV -0.43% -4.58% 1.09% 2.13%
Market Price -0.53% -4.52% 1.07% 2.09%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 0.75% 1.46%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
MARCH 19, 2021 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Deep Buffer ETF - March Price Return
3/19/21 $10,000 $10,000
8/31/21 10,625 11,558
2/28/22 10,703 11,178
8/31/22 10,257 10,107
2/28/23 10,213 10,146
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to March 21, 2022, the Fund's investment objective included an
upside cap of 9.30% (before fees and expenses) and 8.45% (after fees and
expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of March 22, 2021 to March 18, 2022.
Page 8
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - APRIL (FAPR)
The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - April (the
"Fund") is to seek to provide investors with returns that match the price return
of the SPDR(R) S&P 500(R) ETF Trust (the "Underlying ETF"), up to a
predetermined upside cap of 16.35% (before fees and expenses) and 15.48% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee), while
providing a buffer against the first 10% (before fees, expenses and taxes) of
Underlying ETF losses, over the period from April 18, 2022 to April 21, 2023
(the "Outcome Period").* Under normal market conditions, the Fund will invest
substantially all of its assets in FLexible EXchange(R) Options ("FLEX Options")
that reference the price performance of the Underlying ETF. Subsequent Outcome
Periods will begin on the day the prior Outcome Period ends and will end on the
approximate one-year anniversary of that new Outcome Period. On the first day of
each new Outcome Period, the Fund resets by investing in a new set of FLEX
Options that are designed to provide a new cap for the new Outcome Period. This
means that the cap will change for each Outcome Period based upon prevailing
market conditions at the beginning of each Outcome Period. The Fund will be
perpetually offered and not terminate after the current or any subsequent
Outcome Period. An investor that purchases Fund shares other than on the first
day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome
Period may experience results that are very different from the target outcomes
sought by the Fund for that Outcome Period. The Fund is classified as
non-diversified under the Investment Company Act of 1940, as amended. The shares
of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the
ticker symbol "FAPR."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (4/16/21) (4/16/21)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 2.76% -3.85% 0.30% 0.57%
Market Price 3.13% -3.72% 0.41% 0.77%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% -2.78% -5.14%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
APRIL 16, 2021 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Buffer ETF - April Price Return
4/16/21 $10,000 $10,000
8/31/21 10,556 10,806
2/28/22 10,460 10,450
8/31/22 9,787 9,449
2/28/23 10,057 9,486
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to April 18, 2022, the Fund's investment objective included an
upside cap of 12.00% (before fees and expenses) and 11.15% (after fees and
expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of April 19, 2021 to April 14, 2022.
Page 9
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - APRIL (DAPR)
The investment objective of the FT Cboe Vest U.S. Equity Deep Buffer ETF - April
(the "Fund") is to seek to provide investors with returns that match the price
return of the SPDR(R) S&P 500(R) ETF Trust (the "Underlying ETF"), up to a
predetermined upside cap of 10.96% (before fees and expenses) and 10.09% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee), while
providing a buffer against Underlying ETF losses between -5% and -30% (before
fees, expenses and taxes), over the period from April 18, 2022 to April 21, 2023
(the "Outcome Period").* Under normal market conditions, the Fund will invest
substantially all of its assets in FLexible EXchange(R) Options ("FLEX Options")
that reference the price performance of the Underlying ETF. Subsequent Outcome
Periods will begin on the day the prior Outcome Period ends and will end on the
approximate one-year anniversary of that new Outcome Period. On the first day of
each new Outcome Period, the Fund resets by investing in a new set of FLEX
Options that are designed to provide a new cap for the new Outcome Period. This
means that the cap will change for each Outcome Period based upon prevailing
market conditions at the beginning of each Outcome Period. The Fund will be
perpetually offered and not terminate after the current or any subsequent
Outcome Period. An investor that purchases Fund shares other than on the first
day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome
Period may experience results that are very different from the target outcomes
sought by the Fund for that Outcome Period. The Fund is classified as
non-diversified under the Investment Company Act of 1940, as amended. The shares
of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the
ticker symbol "DAPR."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (4/16/21) (4/16/21)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV -1.14% -4.46% -0.91% -1.70%
Market Price -0.91% -4.46% -0.86% -1.60%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% -2.78% -5.14%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
APRIL 16, 2021 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Deep Buffer ETF - April Price Return
4/16/21 $10,000 $10,000
8/31/21 10,346 10,806
2/28/22 10,289 10,450
8/31/22 9,943 9,449
2/28/23 9,830 9,486
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to April 18, 2022, the Fund's investment objective included an
upside cap of 7.50% (before fees and expenses) and 6.65% (after fees and
expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of April 19, 2021 to April 14, 2022.
Page 10
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - MAY (FMAY)
The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - May (the
"Fund") is to seek to provide investors with returns (before fees, expenses and
taxes) that match the price return of the SPDR(R) S&P 500(R) ETF Trust (the
"Underlying ETF"), up to a predetermined upside cap of 20.45% (before fees,
expenses and taxes) and 19.60% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee), while providing a buffer against the first 10% (before
fees, expenses and taxes) of Underlying ETF losses, over the period from May 23,
2022 to May 19, 2023 (the "Outcome Period").* Under normal market conditions,
the Fund will invest substantially all of its assets in FLexible EXchange(R)
Options ("FLEX Options") that reference the price performance of the Underlying
ETF. Subsequent Outcome Periods will begin on the day the prior Outcome Period
ends and will end on the approximate one-year anniversary of that new Outcome
Period. On the first day of each new Outcome Period, the Fund resets by
investing in a new set of FLEX Options that are designed to provide a new cap
for the new Outcome Period. This means that the cap will change for each Outcome
Period based upon prevailing market conditions at the beginning of each Outcome
Period. The Fund will be perpetually offered and not terminate after the current
or any subsequent Outcome Period. An investor that purchases Fund shares other
than on the first day of an Outcome Period and/or sells Fund shares prior to the
end of an Outcome Period may experience results that are very different from the
target outcomes sought by the Fund for that Outcome Period. The Fund is
classified as non-diversified under the Investment Company Act of 1940, as
amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange,
Inc., under the ticker symbol "FMAY."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (5/15/20) (5/15/20)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 0.78% -2.84% 6.27% 18.49%
Market Price 1.04% -2.86% 6.28% 18.52%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 12.41% 38.64%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
MAY 15, 2020 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Buffer ETF - May Price Return
5/15/20 $10,000 $10,000
8/31/20 11,032 12,223
2/28/21 11,453 13,308
8/31/21 12,291 15,793
2/28/22 12,195 15,273
8/31/22 11,757 13,810
2/28/23 11,849 13,864
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to May 23, 2022, the Fund's investment objective included an upside
cap of 12.50% (before fees, expenses and taxes) and 11.65% (after fees and
expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of May 24, 2021 to May 20, 2022.
Page 11
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - MAY (DMAY)
The investment objective of the FT Cboe Vest U.S. Equity Deep Buffer ETF - May
(the "Fund") is to seek to provide investors with returns (before fees, expenses
and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF Trust (the
"Underlying ETF"), up to a predetermined upside cap of 13.93% (before fees,
expenses and taxes) and 13.08% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee), while providing a buffer against Underlying ETF losses
between -5% and -30% (before fees, expenses and taxes), over the period from May
23, 2022 to May 19, 2023 (the "Outcome Period").* Under normal market
conditions, the Fund will invest substantially all of its assets in FLexible
EXchange(R) Options ("FLEX Options") that reference the price performance of the
Underlying ETF. Subsequent Outcome Periods will begin on the day the prior
Outcome Period ends and will end on the approximate one-year anniversary of that
new Outcome Period. On the first day of each new Outcome Period, the Fund resets
by investing in a new set of FLEX Options that are designed to provide a new cap
for the new Outcome Period. This means that the cap will change for each Outcome
Period based upon prevailing market conditions at the beginning of each Outcome
Period. The Fund will be perpetually offered and not terminate after the current
or any subsequent Outcome Period. An investor that purchases Fund shares other
than on the first day of an Outcome Period and/or sells Fund shares prior to the
end of an Outcome Period may experience results that are very different from the
target outcomes sought by the Fund for that Outcome Period. The Fund is
classified as non-diversified under the Investment Company Act of 1940, as
amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange,
Inc., under the ticker symbol "DMAY."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (5/15/20) (5/15/20)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 0.54% -6.80% 1.66% 4.71%
Market Price 0.76% -6.72% 1.66% 4.71%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 12.41% 38.64%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
MAY 15, 2020 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Deep Buffer ETF - May Price Return
5/15/20 $10,000 $10,000
8/31/20 10,596 12,223
2/28/21 10,843 13,308
8/31/21 11,284 15,793
2/28/22 11,235 15,273
8/31/22 10,414 13,810
2/28/23 10,471 13,864
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to May 23, 2022, the Fund's investment objective included an upside
cap of 7.60% (before fees, expenses and taxes) and 6.75% (after fees and
expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of May 24, 2021 to May 20, 2022.
Page 12
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - JUNE (FJUN)
The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - June (the
"Fund") is to seek to provide investors with returns (before fees, expenses and
taxes) that match the price return of the SPDR(R) S&P 500(R) ETF Trust (the
"Underlying ETF"), up to a predetermined upside cap of 22.20% (before fees,
expenses and taxes) and 21.35% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee), while providing a buffer against the first 10% (before
fees, expenses and taxes) of Underlying ETF losses, over the period from June
21, 2022 to June 16, 2023 (the "Outcome Period").* Under normal market
conditions, the Fund will invest substantially all of its assets in FLexible
EXchange(R) Options ("FLEX Options") that reference the price performance of the
Underlying ETF. Subsequent Outcome Periods will begin on the day the prior
Outcome Period ends and will end on the approximate one-year anniversary of that
new Outcome Period. On the first day of each new Outcome Period, the Fund resets
by investing in a new set of FLEX Options that are designed to provide a new cap
for the new Outcome Period. This means that the cap will change for each Outcome
Period based upon prevailing market conditions at the beginning of each Outcome
Period. The Fund will be perpetually offered and not terminate after the current
or any subsequent Outcome Period. An investor that purchases Fund shares other
than on the first day of an Outcome Period and/or sells Fund shares prior to the
end of an Outcome Period may experience results that are very different from the
target outcomes sought by the Fund for that Outcome Period. The Fund is
classified as non-diversified under the Investment Company Act of 1940, as
amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange,
Inc., under the ticker symbol "FJUN."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (6/19/20) (6/19/20)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 2.01% 0.92% 7.90% 22.74%
Market Price 2.45% 0.95% 7.96% 22.94%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 9.64% 28.16%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
JUNE 19, 2020 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Buffer ETF - June Price Return
5/19/20 $10,000 $10,000
8/31/20 10,764 11,300
2/28/21 11,342 12,303
8/31/21 12,254 14,600
2/28/22 12,161 14,120
8/31/22 12,032 12,767
2/28/23 12,274 12,816
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to June 21, 2022, the Fund's investment objective included an upside
cap of 11.70% (before fees, expenses and taxes) and 10.85% (after fees and
expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of June 21, 2021 to June 17, 2022.
Page 13
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JUNE (DJUN)
The investment objective of the FT Cboe Vest U.S. Equity Deep Buffer ETF - June
(the "Fund") is to seek to provide investors with returns (before fees, expenses
and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF Trust (the
"Underlying ETF"), up to a predetermined upside cap of 15.59% (before fees,
expenses and taxes) and 14.74% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee), while providing a buffer against Underlying ETF losses
between -5% and -30% (before fees, expenses and taxes), over the period from
June 21, 2022 to June 16, 2023 (the "Outcome Period").* Under normal market
conditions, the Fund will invest substantially all of its assets in FLexible
EXchange(R) Options ("FLEX Options") that reference the price performance of the
Underlying ETF. Subsequent Outcome Periods will begin on the day the prior
Outcome Period ends and will end on the approximate one-year anniversary of that
new Outcome Period. On the first day of each new Outcome Period, the Fund resets
by investing in a new set of FLEX Options that are designed to provide a new cap
for the new Outcome Period. This means that the cap will change for each Outcome
Period based upon prevailing market conditions at the beginning of each Outcome
Period. The Fund will be perpetually offered and not terminate after the current
or any subsequent Outcome Period. An investor that purchases Fund shares other
than on the first day of an Outcome Period and/or sells Fund shares prior to the
end of an Outcome Period may experience results that are very different from the
target outcomes sought by the Fund for that Outcome Period. The Fund is
classified as non-diversified under the Investment Company Act of 1940, as
amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange,
Inc., under the ticker symbol "DJUN."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (6/19/20) (6/19/20)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 2.34% -1.92% 3.51% 9.75%
Market Price 2.66% -1.92% 3.50% 9.72%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 9.64% 28.16%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
JUNE 19, 2020 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Deep Buffer ETF - June Price Return
6/19/20 $10,000 $10,000
8/31/20 10,453 11,300
2/28/21 10,751 12,303
8/31/21 11,253 14,600
2/28/22 11,190 14,120
8/31/22 10,723 12,767
2/28/23 10,975 12,816
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to June 21, 2022, the Fund's investment objective included an upside
cap of 7.06% (before fees, expenses and taxes) and 6.21% (after fees and
expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of June 21, 2021 to June 17, 2022.
Page 14
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - JULY (FJUL)
The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - July (the
"Fund") is to seek to provide investors with returns (before fees, expenses and
taxes) that match the price return of the SPDR(R) S&P 500(R) ETF Trust (the
"Underlying ETF"), up to a predetermined upside cap of 21.30% (before fees,
expenses and taxes) and 20.44% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee), while providing a buffer against the first 10% (before
fees, expenses and taxes) of Underlying ETF losses, over the period from July
18, 2022 to July 21, 2023 (the "Outcome Period").* Under normal market
conditions, the Fund will invest substantially all of its assets in FLexible
EXchange(R) Options ("FLEX Options") that reference the price performance of the
Underlying ETF. Subsequent Outcome Periods will begin on the day the prior
Outcome Period ends and will end on the approximate one-year anniversary of that
new Outcome Period. On the first day of each new Outcome Period, the Fund resets
by investing in a new set of FLEX Options that are designed to provide a new cap
for the new Outcome Period. This means that the cap will change for each Outcome
Period based upon prevailing market conditions at the beginning of each Outcome
Period. The Fund will be perpetually offered and not terminate after the current
or any subsequent Outcome Period. An investor that purchases Fund shares other
than on the first day of an Outcome Period and/or sells Fund shares prior to the
end of an Outcome Period may experience results that are very different from the
target outcomes sought by the Fund for that Outcome Period. The Fund is
classified as non-diversified under the Investment Company Act of 1940, as
amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange,
Inc., under the ticker symbol "FJUL."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (7/17/20) (7/17/20)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 1.64% 0.48% 6.10% 16.77%
Market Price 1.85% 0.28% 6.04% 16.60%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 8.26% 23.12%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
JULY 17, 2020 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Buffer ETF - July Price Return
7/17/20 $10,000 $10,000
8/31/20 10,453 10,855
2/28/21 10,992 11,819
8/31/21 11,782 14,025
2/28/22 11,620 13,564
8/31/22 11,488 12,265
2/28/23 11,677 12,312
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to July 18, 2022, the Fund's investment objective included an upside
cap of 11.70% (before fees, expenses and taxes) and 10.85% (after fees and
expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of July 19, 2021 to July 15, 2022.
Page 15
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JULY (DJUL)
The investment objective of the FT Cboe Vest U.S. Equity Deep Buffer ETF - July
(the "Fund") is to seek to provide investors with returns (before fees, expenses
and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF Trust (the
"Underlying ETF"), up to a predetermined upside cap of 15.02% (before fees,
expenses and taxes) and 14.16% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee), while providing a buffer against Underlying ETF losses
between -5% and -30% (before fees, expenses and taxes), over the period from
July 18, 2022 to July 21, 2023 (the "Outcome Period").* Under normal market
conditions, the Fund will invest substantially all of its assets in FLexible
EXchange(R) Options ("FLEX Options") that reference the price performance of the
Underlying ETF. Subsequent Outcome Periods will begin on the day the prior
Outcome Period ends and will end on the approximate one-year anniversary of that
new Outcome Period. On the first day of each new Outcome Period, the Fund resets
by investing in a new set of FLEX Options that are designed to provide a new cap
for the new Outcome Period. This means that the cap will change for each Outcome
Period based upon prevailing market conditions at the beginning of each Outcome
Period. The Fund will be perpetually offered and not terminate after the current
or any subsequent Outcome Period. An investor that purchases Fund shares other
than on the first day of an Outcome Period and/or sells Fund shares prior to the
end of an Outcome Period may experience results that are very different from the
target outcomes sought by the Fund for that Outcome Period. The Fund is
classified as non-diversified under the Investment Company Act of 1940, as
amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange,
Inc., under the ticker symbol "DJUL."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (7/17/20) (7/17/20)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 1.38% -3.93% 1.63% 4.33%
Market Price 1.61% -4.02% 1.61% 4.27%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 8.26% 23.12%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
JULY 17, 2020 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Deep Buffer ETF - July Price Return
7/17/20 $10,000 $10,000
8/31/20 10,238 10,855
2/28/21 10,546 11,819
8/31/21 10,969 14,025
2/28/22 10,860 13,564
8/31/22 10,291 12,265
2/28/23 10,433 12,312
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to July 18, 2022, the Fund's investment objective included an upside
cap of 7.30% (before fees, expenses and taxes) and 6.45% (after fees and
expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of July 19, 2021 to July 15, 2022.
Page 16
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - AUGUST (FAUG)
The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - August
(the "Fund") is to seek to provide investors with returns (before fees, expenses
and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF Trust (the
"Underlying ETF"), up to a predetermined upside cap of 20.46% (before fees,
expenses and taxes) and 19.61% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee), while providing a buffer against the first 10% (before
fees, expenses and taxes) of Underlying ETF losses, over the period from August
22, 2022 to August 18, 2023 (the "Outcome Period").* Under normal market
conditions, the Fund will invest substantially all of its assets in FLexible
EXchange(R) Options ("FLEX Options") that reference the price performance of the
Underlying ETF. Subsequent Outcome Periods will begin on the day the prior
Outcome Period ends and will end on the approximate one-year anniversary of that
new Outcome Period. On the first day of each new Outcome Period, the Fund resets
by investing in a new set of FLEX Options that are designed to provide a new cap
for the new Outcome Period. This means that the cap will change for each Outcome
Period based upon prevailing market conditions at the beginning of each Outcome
Period. The Fund will be perpetually offered and not terminate after the current
or any subsequent Outcome Period. An investor that purchases Fund shares other
than on the first day of an Outcome Period and/or sells Fund shares prior to the
end of an Outcome Period may experience results that are very different from the
target outcomes sought by the Fund for that Outcome Period. The Fund is
classified as non-diversified under the Investment Company Act of 1940, as
amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange,
Inc., under the ticker symbol "FAUG."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (11/6/19) (11/6/19)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 0.93% -4.01% 5.22% 18.37%
Market Price 1.31% -3.76% 5.21% 18.34%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 8.00% 29.04%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
NOVEMBER 6, 2019 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Buffer ETF - August Price Return
11/6/19 $10,000 $10,000
2/29/20 9,764 9,602
8/31/20 10,947 11,377
2/28/21 11,615 12,387
8/31/21 12,458 14,699
2/28/22 12,332 14,216
8/31/22 11,728 12,854
2/28/23 11,837 12,904
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to August 22, 2022, the Fund's investment objective included an
upside cap of 11.64% (before fees, expenses and taxes) and 10.79% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of August 23, 2021 to August 19, 2022.
Page 17
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - AUGUST (DAUG)
The investment objective of the FT Cboe Vest U.S. Equity Deep Buffer ETF -
August (the "Fund") is to seek to provide investors with returns (before fees,
expenses and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF
Trust (the "Underlying ETF"), up to a predetermined upside cap of 14.47% (before
fees, expenses and taxes) and 13.62% (after fees and expenses, excluding
brokerage commissions, trading fees, taxes and extraordinary expenses not
included in the Fund's management fee), while providing a buffer against
Underlying ETF losses between -5% and -30% (before fees, expenses and taxes),
over the period from August 22, 2022 to August 18, 2023 (the "Outcome Period").*
Under normal market conditions, the Fund will invest substantially all of its
assets in FLexible EXchange(R) Options ("FLEX Options") that reference the price
performance of the Underlying ETF. Subsequent Outcome Periods will begin on the
day the prior Outcome Period ends and will end on the approximate one-year
anniversary of that new Outcome Period. On the first day of each new Outcome
Period, the Fund resets by investing in a new set of FLEX Options that are
designed to provide a new cap for the new Outcome Period. This means that the
cap will change for each Outcome Period based upon prevailing market conditions
at the beginning of each Outcome Period. The Fund will be perpetually offered
and not terminate after the current or any subsequent Outcome Period. An
investor that purchases Fund shares other than on the first day of an Outcome
Period and/or sells Fund shares prior to the end of an Outcome Period may
experience results that are very different from the target outcomes sought by
the Fund for that Outcome Period. The Fund is classified as non-diversified
under the Investment Company Act of 1940, as amended. The shares of the Fund are
listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol
"DAUG."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (11/6/19) (11/6/19)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV -0.32% -8.30% 1.37% 4.62%
Market Price 0.13% -8.16% 1.39% 4.68%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 8.00% 29.04%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
NOVEMBER 6, 2019 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Deep Buffer ETF - August Price Return
11/6/19 $10,000 $10,000
2/29/20 9,804 9,602
8/31/20 10,681 11,377
2/28/21 11,056 12,387
8/31/21 11,548 14,699
2/28/22 11,409 14,216
8/31/22 10,495 12,854
2/28/23 10,462 12,904
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to August 22, 2022, the Fund's investment objective included an
upside cap of 7.37% (before fees, expenses and taxes) and 6.52% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of August 23, 2021 to August 19, 2022.
Page 18
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - SEPTEMBER (FSEP)
The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - September
(the "Fund") is to seek to provide investors with returns (before fees, expenses
and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF Trust (the
"Underlying ETF"), up to a predetermined upside cap of 23.41% (before fees,
expenses and taxes) and 22.56% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee), while providing a buffer against the first 10% (before
fees, expenses and taxes) of Underlying ETF losses, over the period from
September 19, 2022 to September 15, 2023 (the "Outcome Period").* Under normal
market conditions, the Fund will invest substantially all of its assets in
FLexible EXchange(R) Options ("FLEX Options") that reference the price
performance of the Underlying ETF. Subsequent Outcome Periods will begin on the
day the prior Outcome Period ends and will end on the approximate one-year
anniversary of that new Outcome Period. On the first day of each new Outcome
Period, the Fund resets by investing in a new set of FLEX Options that are
designed to provide a new cap for the new Outcome Period. This means that the
cap will change for each Outcome Period based upon prevailing market conditions
at the beginning of each Outcome Period. The Fund will be perpetually offered
and not terminate after the current or any subsequent Outcome Period. An
investor that purchases Fund shares other than on the first day of an Outcome
Period and/or sells Fund shares prior to the end of an Outcome Period may
experience results that are very different from the target outcomes sought by
the Fund for that Outcome Period. The Fund is classified as non-diversified
under the Investment Company Act of 1940, as amended. The shares of the Fund are
listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol
"FSEP."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (9/18/20) (9/18/20)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 3.03% -0.12% 6.08% 15.52%
Market Price 2.90% -0.09% 6.09% 15.56%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 7.59% 19.60%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
SEPTEMBER 18, 2020 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Buffer ETF - September Price Return
9/18/20 $10,000 $10,000
2/28/21 10,887 11,481
8/31/21 11,576 13,625
2/28/22 11,566 13,177
8/31/22 11,213 11,915
2/28/23 11,552 11,960
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to September 19, 2022, the Fund's investment objective included an
upside cap of 12.20% (before fees, expenses and taxes) and 11.35% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of September 20, 2021 to September 16, 2022.
Page 19
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - SEPTEMBER (DSEP)
The investment objective of the FT Cboe Vest U.S. Equity Deep Buffer ETF -
September (the "Fund") is to seek to provide investors with returns (before
fees, expenses and taxes) that match the price return of the SPDR(R) S&P 500(R)
ETF Trust (the "Underlying ETF"), up to a predetermined upside cap of 16.98%
(before fees, expenses and taxes) and 16.13% (after fees and expenses, excluding
brokerage commissions, trading fees, taxes and extraordinary expenses not
included in the Fund's management fee), while providing a buffer against
Underlying ETF losses between -5% and -30% (before fees, expenses and taxes),
over the period from September 19, 2022 to September 15, 2023 (the "Outcome
Period").* Under normal market conditions, the Fund will invest substantially
all of its assets in FLexible EXchange(R) Options ("FLEX Options") that
reference the price performance of the Underlying ETF. Subsequent Outcome
Periods will begin on the day the prior Outcome Period ends and will end on the
approximate one-year anniversary of that new Outcome Period. On the first day of
each new Outcome Period, the Fund resets by investing in a new set of FLEX
Options that are designed to provide a new cap for the new Outcome Period. This
means that the cap will change for each Outcome Period based upon prevailing
market conditions at the beginning of each Outcome Period. The Fund will be
perpetually offered and not terminate after the current or any subsequent
Outcome Period. An investor that purchases Fund shares other than on the first
day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome
Period may experience results that are very different from the target outcomes
sought by the Fund for that Outcome Period. The Fund is classified as
non-diversified under the Investment Company Act of 1940, as amended. The shares
of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the
ticker symbol "DSEP."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (9/18/20) (9/18/20)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 2.83% -2.67% 2.07% 5.14%
Market Price 2.83% -2.86% 2.07% 5.14%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 7.59% 19.60%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
SEPTEMBER 18, 2020 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Deep Buffer ETF - September Price Return
9/18/20 #10,000 #10,000
2/28/21 10,494 11,481
8/31/21 10,853 13,625
2/28/22 10,803 13,177
8/31/22 10,225 11,915
2/28/23 10,514 11,960
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to September 19, 2022, the Fund's investment objective included an
upside cap of 7.43% (before fees, expenses and taxes) and 6.58% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of September 20, 2021 to September 16, 2022.
Page 20
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - OCTOBER (FOCT)
The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - October
(the "Fund") is to seek to provide investors with returns (before fees, expenses
and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF Trust (the
"Underlying ETF"), up to a predetermined upside cap of 27.12% (before fees,
expenses and taxes) and 26.27% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee), while providing a buffer against the first 10% (before
fees, expenses and taxes) of Underlying ETF losses, over the period from October
24, 2022 to October 20, 2023 (the "Outcome Period").* Under normal market
conditions, the Fund will invest substantially all of its assets in FLexible
EXchange(R) Options ("FLEX Options") that reference the price performance of the
Underlying ETF. Subsequent Outcome Periods will begin on the day the prior
Outcome Period ends and will end on the approximate one-year anniversary of that
new Outcome Period. On the first day of each new Outcome Period, the Fund resets
by investing in a new set of FLEX Options that are designed to provide a new cap
for the new Outcome Period. This means that the cap will change for each Outcome
Period based upon prevailing market conditions at the beginning of each Outcome
Period. The Fund will be perpetually offered and not terminate after the current
or any subsequent Outcome Period. An investor that purchases Fund shares other
than on the first day of an Outcome Period and/or sells Fund shares prior to the
end of an Outcome Period may experience results that are very different from the
target outcomes sought by the Fund for that Outcome Period. The Fund is
classified as non-diversified under the Investment Company Act of 1940, as
amended. The shares of the Fund are listed and traded on the Cboe BZX Exchange,
Inc., under the ticker symbol "FOCT."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (10/16/20) (10/16/20)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 3.68% -0.32% 5.75% 14.16%
Market Price 3.59% -0.29% 5.70% 14.03%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 5.67% 13.96%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
OCTOBER 16, 2020 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Buffer ETF - October Price Return
10/16/20 $10,000 $10,000
2/28/21 10,639 10,940
8/31/21 11,517 12,982
2/28/22 11,453 12,555
8/31/22 11,011 11,353
2/28/23 11,416 11,396
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to October 24, 2022, the Fund's investment objective included an
upside cap of 11.70% (before fees, expenses and taxes) and 10.84% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of October 18, 2021 to October 21, 2022.
Page 21
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - OCTOBER (DOCT)
The investment objective of the FT Cboe Vest U.S. Equity Deep Buffer ETF -
October (the "Fund") is to seek to provide investors with returns (before fees,
expenses and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF
Trust (the "Underlying ETF"), up to a predetermined upside cap of 19.20% (before
fees, expenses and taxes) and 18.35% (after fees and expenses, excluding
brokerage commissions, trading fees, taxes and extraordinary expenses not
included in the Fund's management fee), while providing a buffer against
Underlying ETF losses between -5% and -30% (before fees, expenses and taxes),
over the period from October 24, 2022 to October 20, 2023 (the "Outcome
Period").* Under normal market conditions, the Fund will invest substantially
all of its assets in FLexible EXchange(R) Options ("FLEX Options") that
reference the price performance of the Underlying ETF. Subsequent Outcome
Periods will begin on the day the prior Outcome Period ends and will end on the
approximate one-year anniversary of that new Outcome Period. On the first day of
each new Outcome Period, the Fund resets by investing in a new set of FLEX
Options that are designed to provide a new cap for the new Outcome Period. This
means that the cap will change for each Outcome Period based upon prevailing
market conditions at the beginning of each Outcome Period. The Fund will be
perpetually offered and not terminate after the current or any subsequent
Outcome Period. An investor that purchases Fund shares other than on the first
day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome
Period may experience results that are very different from the target outcomes
sought by the Fund for that Outcome Period. The Fund is classified as
non-diversified under the Investment Company Act of 1940, as amended. The shares
of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the
ticker symbol "DOCT."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (10/16/20) (10/16/20)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 4.97% 0.00% 3.11% 7.53%
Market Price 4.97% -0.16% 3.10% 7.50%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 5.67% 13.96%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
OCTOBER 16, 2020 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Deep Buffer ETF - October Price Return
10/16/20 $10,000 $10,000
2/28/21 10,372 10,940
8/31/21 10,850 12,982
2/28/22 10,753 12,555
8/31/22 10,244 11,353
2/28/23 10,753 11,396
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to October 24, 2022, the Fund's investment objective included an
upside cap of 7.22% (before fees, expenses and taxes) and 6.36% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of October 18, 2021 to October 21, 2022.
Page 22
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - NOVEMBER (FNOV)
The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - November
(the "Fund") is to seek to provide investors with returns (before fees, expenses
and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF Trust (the
"Underlying ETF"), up to a predetermined upside cap of 23.77% (before fees,
expenses and taxes) and 22.92% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee), while providing a buffer against the first 10% (before
fees, expenses and taxes) of Underlying ETF losses, over the period from
November 21, 2022 to November 17, 2023 (the "Outcome Period").* Under normal
market conditions, the Fund will invest substantially all of its assets in
FLexible EXchange(R) Options ("FLEX Options") that reference the price
performance of the Underlying ETF. Subsequent Outcome Periods will begin on the
day the prior Outcome Period ends and will end on the approximate one-year
anniversary of that new Outcome Period. On the first day of each new Outcome
Period, the Fund resets by investing in a new set of FLEX Options that are
designed to provide a new cap for the new Outcome Period. This means that the
cap will change for each Outcome Period based upon prevailing market conditions
at the beginning of each Outcome Period. The Fund will be perpetually offered
and not terminate after the current or any subsequent Outcome Period. An
investor that purchases Fund shares other than on the first day of an Outcome
Period and/or sells Fund shares prior to the end of an Outcome Period may
experience results that are very different from the target outcomes sought by
the Fund for that Outcome Period. The Fund is classified as non-diversified
under the Investment Company Act of 1940, as amended. The shares of the Fund are
listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol
"FNOV."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (11/15/19) (11/15/19)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 2.93% -1.03% 5.60% 19.63%
Market Price 2.90% -1.14% 5.59% 19.57%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 7.60% 27.23%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
NOVEMBER 15, 2019 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Buffer ETF - November Price Return
11/15/19 $10,000 $10,000
2/29/20 9,705 9,467
8/31/20 10,762 11,217
2/28/21 11,603 12,213
8/31/21 12,533 14,494
2/28/22 12,088 14,017
8/31/22 11,623 12,674
2/28/23 11,963 12,723
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to November 21, 2022, the Fund's investment objective included an
upside cap of 12.10% (before fees, expenses and taxes) and 11.25% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of November 22, 2021 to November 18, 2022.
Page 23
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - NOVEMBER (DNOV)
The investment objective of the FT Cboe Vest U.S. Equity Deep Buffer ETF -
November (the "Fund") is to seek to provide investors with returns (before fees,
expenses and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF
Trust (the "Underlying ETF"), up to a predetermined upside cap of 17.19% (before
fees, expenses and taxes) and 16.34% (after fees and expenses, excluding
brokerage commissions, trading fees, taxes and extraordinary expenses not
included in the Fund's management fee), while providing a buffer against
Underlying ETF losses between -5% and -30% (before fees, expenses and taxes),
over the period from November 21, 2022 to November 17, 2023 (the "Outcome
Period").* Under normal market conditions, the Fund will invest substantially
all of its assets in FLexible EXchange(R) Options ("FLEX Options") that
reference the price performance of the Underlying ETF. Subsequent Outcome
Periods will begin on the day the prior Outcome Period ends and will end on the
approximate one-year anniversary of that new Outcome Period. On the first day of
each new Outcome Period, the Fund resets by investing in a new set of FLEX
Options that are designed to provide a new cap for the new Outcome Period. This
means that the cap will change for each Outcome Period based upon prevailing
market conditions at the beginning of each Outcome Period. The Fund will be
perpetually offered and not terminate after the current or any subsequent
Outcome Period. An investor that purchases Fund shares other than on the first
day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome
Period may experience results that are very different from the target outcomes
sought by the Fund for that Outcome Period. The Fund is classified as
non-diversified under the Investment Company Act of 1940, as amended. The shares
of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the
ticker symbol "DNOV."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (11/15/19) (11/15/19)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 2.01% -1.82% 2.81% 9.53%
Market Price 1.98% -1.93% 2.80% 9.49%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 7.60% 27.23%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
NOVEMBER 15, 2019 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Deep Buffer ETF - November Price Return
11/15/19 $10,000 $10,000
2/29/20 9,705 9,467
8/31/20 10,504 11,217
2/28/21 10,949 12,213
8/31/21 11,453 14,494
2/28/22 11,155 14,017
8/31/22 10,736 12,674
2/28/23 10,953 12,723
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to November 21, 2022, the Fund's investment objective included an
upside cap of 7.60% (before fees, expenses and taxes) and 6.75% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of November 22, 2021 to November 18, 2022.
Page 24
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - DECEMBER (FDEC)
The investment objective of the FT Cboe Vest U.S. Equity Buffer ETF - December
(the "Fund") is to seek to provide investors with returns (before fees, expenses
and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF Trust (the
"Underlying ETF"), up to a predetermined upside cap of 23.10% (before fees,
expenses and taxes) and 22.25% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee), while providing a buffer against the first 10% (before
fees, expenses and taxes) of Underlying ETF losses, over the period from
December 19, 2022 to December 15, 2023 (the "Outcome Period").* Under normal
market conditions, the Fund will invest substantially all of its assets in
FLexible EXchange(R) Options ("FLEX Options") that reference the price
performance of the Underlying ETF. Subsequent Outcome Periods will begin on the
day the prior Outcome Period ends and will end on the approximate one-year
anniversary of that new Outcome Period. On the first day of each new Outcome
Period, the Fund resets by investing in a new set of FLEX Options that are
designed to provide a new cap for the new Outcome Period. This means that the
cap will change for each Outcome Period based upon prevailing market conditions
at the beginning of each Outcome Period. The Fund will be perpetually offered
and not terminate after the current or any subsequent Outcome Period. An
investor that purchases Fund shares other than on the first day of an Outcome
Period and/or sells Fund shares prior to the end of an Outcome Period may
experience results that are very different from the target outcomes sought by
the Fund for that Outcome Period. The Fund is classified as non-diversified
under the Investment Company Act of 1940, as amended. The shares of the Fund are
listed and traded on the Cboe BZX Exchange, Inc., under the ticker symbol
"FDEC."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (12/18/20) (12/18/20)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 3.41% -1.71% 3.68% 8.26%
Market Price 3.38% -1.41% 3.65% 8.19%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 3.14% 7.03%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
DECEMBER 18, 2020 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Buffer ETF - December Price Return
12/18/20 $10,000 $10,000
2/28/21 10,195 10,274
8/31/21 11,160 12,192
2/28/22 11,014 11,791
8/31/22 10,469 10,662
2/28/23 10,826 10,703
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to December 19, 2022, the Fund's investment objective included an
upside cap of 13.10% (before fees, expenses and taxes) and 12.25% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of December 20, 2021 to December 16, 2022.
Page 25
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - DECEMBER (DDEC)
The investment objective of the FT Cboe Vest U.S. Equity Deep Buffer ETF -
December (the "Fund") is to seek to provide investors with returns (before fees,
expenses and taxes) that match the price return of the SPDR(R) S&P 500(R) ETF
Trust (the "Underlying ETF"), up to a predetermined upside cap of 16.68% (before
fees, expenses and taxes) and 15.83% (after fees and expenses, excluding
brokerage commissions, trading fees, taxes and extraordinary expenses not
included in the Fund's management fee), while providing a buffer against
Underlying ETF losses between -5% and -30% (before fees, expenses and taxes),
over the period from December 19, 2022 to December 15, 2023 (the "Outcome
Period").* Under normal market conditions, the Fund will invest substantially
all of its assets in FLexible EXchange(R) Options ("FLEX Options") that
reference the price performance of the Underlying ETF. Subsequent Outcome
Periods will begin on the day the prior Outcome Period ends and will end on the
approximate one-year anniversary of that new Outcome Period. On the first day of
each new Outcome Period, the Fund resets by investing in a new set of FLEX
Options that are designed to provide a new cap for the new Outcome Period. This
means that the cap will change for each Outcome Period based upon prevailing
market conditions at the beginning of each Outcome Period. The Fund will be
perpetually offered and not terminate after the current or any subsequent
Outcome Period. An investor that purchases Fund shares other than on the first
day of an Outcome Period and/or sells Fund shares prior to the end of an Outcome
Period may experience results that are very different from the target outcomes
sought by the Fund for that Outcome Period. The Fund is classified as
non-diversified under the Investment Company Act of 1940, as amended. The shares
of the Fund are listed and traded on the Cboe BZX Exchange, Inc., under the
ticker symbol "DDEC."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (12/18/20) (12/18/20)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 3.09% -1.38% 1.59% 3.53%
Market Price 3.09% -1.35% 1.61% 3.57%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% 3.14% 7.03%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
DECEMBER 18, 2020 - FEBRUARY 28, 2023
FT Cboe Vest U.S. Equity S&P 500(R) Index -
Deep Buffer ETF - December Price Return
12/18/20 $10,000 $10,000
2/28/21 10,089 10,274
8/31/21 10,634 12,192
2/28/22 10,499 11,791
8/31/22 10,043 10,662
2/28/23 10,353 10,703
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
-----------------------------
* Prior to December 19, 2022, the Fund's investment objective included an
upside cap of 8.10% (before fees, expenses and taxes) and 7.25% (after
fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of December 20, 2021 to December 16, 2022.
Page 26
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST BUFFERED ALLOCATION DEFENSIVE ETF (BUFT)
The investment objective of the FT Cboe Vest Buffered Allocation Defensive ETF
(the "Fund") is to seek to provide investors with capital preservation. The Fund
seeks to achieve its investment objective by investing in a portfolio of
exchange-traded funds that seek to provide investors with returns (before fees
and expense) based on the price return of the SPDR(R) S&P 500(R) ETF Trust
("SPY"), up to a predetermined upside cap, while providing a defined buffer
against losses of SPY over a defined one-year period (the "Underlying ETFs").
Under normal market conditions, the Fund will invest substantially all of its
assets in Underlying ETFs. The Fund and each Underlying ETF are advised by First
Trust Advisors L.P. and sub-advised by Cboe Vest(SM) Financial LLC. PDR
Services, LLC serves as SPY's sponsor. The investment objective of SPY is to
seek to provide investment results that, before expenses, correspond generally
to the price and yield performance of the S&P 500(R) Index. Unlike the
Underlying ETFs, the Fund itself does not pursue a defined outcome strategy. The
buffer is provided only by the Underlying ETFs and the Fund itself does not
provide any stated buffer against losses. The Fund will likely not receive the
full benefit of the Underlying ETF buffers and could have limited upside
potential. The Fund's returns may be limited to the caps of the Underlying ETFs.
The Fund is classified as non-diversified under the Investment Company Act of
1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX
Exchange, Inc., under the ticker symbol "BUFT."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (10/26/21) (10/26/21)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 0.16% -5.32% -4.96% -6.60%
Market Price 0.21% -5.42% -4.99% -6.65%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% -10.02% -13.22%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
OCTOBER 26, 2021 - FEBRUARY 28, 2023
FT Cboe Vest Buffered S&P 500(R) Index -
Allocation Defensive ETF Price Return
10/26/21 $10,000 $10,000
2/28/22 9,865 9,561
8/31/22 9,325 8,645
2/28/23 9,340 8,678
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 27
--------------------------------------------------------------------------------
FUND PERFORMANCE OVERVIEW (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------
FT CBOE VEST BUFFERED ALLOCATION GROWTH ETF (BUFG)
The investment objective of the FT Cboe Vest Buffered Allocation Growth ETF (the
"Fund") is to seek to provide investors with capital appreciation. The Fund
seeks to achieve its investment objective by investing in a portfolio of
exchange-traded funds that seek to provide investors with returns (before fees
and expense) based on the price return of the SPDR(R) S&P 500(R) ETF Trust
("SPY"), up to a predetermined upside cap, while providing a defined buffer
against losses of SPY over a defined one-year period (the "Underlying ETFs").
Under normal market conditions, the Fund will invest substantially all of its
assets in Underlying ETFs. The Fund and each Underlying ETF are advised by First
Trust Advisors L.P. and sub-advised by Cboe Vest(SM) Financial LLC. PDR
Services, LLC serves as SPY's sponsor. The investment objective of SPY is to
seek to provide investment results that, before expenses, correspond generally
to the price and yield performance of the S&P 500(R) Index. Unlike the
Underlying ETFs, the Fund itself does not pursue a defined outcome strategy. The
buffer is provided only by the Underlying ETFs and the Fund itself does not
provide any stated buffer against losses. The Fund will likely not receive the
full benefit of the Underlying ETF buffers and could have limited upside
potential. The Fund's returns may be limited to the caps of the Underlying ETFs.
The Fund is classified as non-diversified under the Investment Company Act of
1940, as amended. The shares of the Fund are listed and traded on the Cboe BZX
Exchange, Inc., under the ticker symbol "BUFG."
------------------------------------------------------------------------------------------------------------------------
PERFORMANCE
------------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL CUMULATIVE
TOTAL RETURNS TOTAL RETURNS
6 Months 1 Year Inception Inception
Ended Ended (10/26/21) (10/26/21)
2/28/23 2/28/23 to 2/28/23 to 2/28/23
FUND PERFORMANCE
NAV 1.93% -4.54% -5.64% -7.50%
Market Price 1.82% -4.59% -5.72% -7.60%
INDEX PERFORMANCE
S&P 500(R) Index - Price Return 0.38% -9.23% -10.02% -13.22%
------------------------------------------------------------------------------------------------------------------------
(See Notes to Fund Performance Overview on page 29.)
PERFORMANCE OF A $10,000 INITIAL INVESTMENT
OCTOBER 26, 2021 - FEBRUARY 28, 2023
FT Cboe Vest Buffered S&P 500(R) Index -
Allocation Growth ETF Price Return
10/26/21 $10,000 $10,000
2/28/22 9,690 9,561
8/31/22 9,075 8,645
2/28/23 9,250 8,678
Performance figures assume reinvestment of all distributions and do not reflect
the deduction of taxes that a shareholder would pay on Fund distributions or the
redemption or sale of Fund shares. An index is a statistical composite that
tracks a specified financial market or sector. Unlike the Fund, the index does
not actually hold a portfolio of securities and therefore does not incur the
expenses incurred by the Fund. These expenses negatively impact the performance
of the Fund. The Fund's past performance does not predict future performance.
FREQUENCY DISTRIBUTION OF DISCOUNTS AND PREMIUMS
Information showing the number of days the market price of the Fund's shares was
greater (at a premium) and less (at a discount) than the Fund's net asset value
for the most recently completed year, and the most recently completed calendar
quarters since that year (or life of the Fund, if shorter) is available at
https://www.ftportfolios.com/Retail/etf/home.aspx.
Page 28
--------------------------------------------------------------------------------
NOTES TO FUND PERFORMANCE OVERVIEW (UNAUDITED)
--------------------------------------------------------------------------------
Total returns for the periods since inception are calculated from the inception
date of each Fund. "Average Annual Total Returns" represent the average annual
change in value of an investment over the periods indicated. "Cumulative Total
Returns" represent the total change in value of an investment over the periods
indicated.
Each Fund's per share net asset value ("NAV") is the value of one share of the
Fund and is computed by dividing the value of all assets of the Fund (including
accrued interest and dividends), less all liabilities (including accrued
expenses and dividends declared but unpaid), by the total number of outstanding
shares. The price used to calculate market return ("Market Price") is determined
by using the midpoint of the national best bid and offer price ("NBBO") as of
the time that the Fund's NAV is calculated. Under SEC rules, the NBBO consists
of the highest displayed buy and lowest sell prices among the various exchanges
trading the Fund at the time the Fund's NAV is calculated. Since shares of each
Fund did not trade in the secondary market until after the Fund's inception, for
the period from inception to the first day of secondary market trading in shares
of the Fund, the NAV of each Fund is used as a proxy for the secondary market
trading price to calculate market returns. NAV and market returns assume that
all distributions have been reinvested in each Fund at NAV and Market Price,
respectively.
An index is a statistical composite that tracks a specified financial market or
sector. Unlike each Fund, the indices do not actually hold a portfolio of
securities and therefore do not incur the expenses incurred by each Fund. These
expenses negatively impact the performance of each Fund. Also, market returns do
not include brokerage commissions that may be payable on secondary market
transactions. If brokerage commissions were included, market returns would be
lower. The total returns presented reflect the reinvestment of dividends on
securities in the indices. The returns presented do not reflect the deduction of
taxes that a shareholder would pay on Fund distributions or the redemption or
sale of Fund shares. The investment return and principal value of shares of each
Fund will vary with changes in market conditions. Shares of each Fund may be
worth more or less than their original cost when they are redeemed or sold in
the market. Each Fund's past performance is no guarantee of future performance.
Page 29
--------------------------------------------------------------------------------
PORTFOLIO MANAGEMENT
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
SEMI-ANNUAL REPORT
FEBRUARY 28, 2023 (UNAUDITED)
ADVISOR
First Trust Advisors L.P. ("First Trust" or the "Advisor") is the investment
advisor to FT Cboe Vest U.S. Equity Buffer - January ("FJAN"), FT Cboe Vest U.S.
Equity Deep Buffer ETF - January ("DJAN"), FT Cboe Vest U.S. Equity Buffer ETF -
February ("FFEB"), FT Cboe Vest U.S. Equity Deep Buffer ETF - February ("DFEB"),
FT Cboe Vest U.S. Equity Buffer - March ("FMAR"), FT Cboe Vest U.S. Equity Deep
Buffer ETF - March ("DMAR"), FT Cboe Vest U.S. Equity Buffer ETF - April
("FAPR"), FT Cboe Vest Equity U.S. Deep Buffer - April ("DAPR"), FT Cboe Vest
U.S. Equity Buffer - May ("FMAY"), FT Cboe Vest U.S. Equity Deep Buffer ETF -
May ("DMAY"), FT Cboe Vest U.S. Equity Buffer ETF - June ("FJUN"), FT Cboe Vest
U.S. Equity Deep Buffer ETF - June ("DJUN"), FT Cboe Vest U.S. Equity Buffer -
July ("FJUL"), FT Cboe Vest U.S. Equity Deep Buffer ETF - July ("DJUL"), FT Cboe
Vest U.S. Equity Buffer ETF - August ("FAUG"), FT Cboe Vest Equity U.S. Deep
Buffer - August ("DAUG"), FT Cboe Vest U.S. Equity Buffer - September ("FSEP"),
FT Cboe Vest U.S. Equity Deep Buffer ETF - September ("DSEP"), FT Cboe Vest U.S.
Equity Buffer ETF - October ("FOCT"), FT Cboe Vest U.S. Equity Deep Buffer ETF -
October ("DOCT"), FT Cboe Vest U.S. Equity Buffer - November ("FNOV"), FT Cboe
Vest U.S. Equity Deep Buffer ETF - November ("DNOV"), FT Cboe Vest U.S. Equity
Buffer ETF - December ("FDEC"), FT Cboe Vest Equity U.S. Deep Buffer - December
("DDEC"), FT Cboe Vest Buffered Allocation Defensive ETF ("BUFT"), and FT Cboe
Vest Buffered Allocation Growth ETF ("BUFG") (each a "Fund" and collectively,
the "Funds"). First Trust is responsible for the ongoing monitoring of each
Fund's investment portfolio, managing each Fund's business affairs and providing
certain administrative services necessary for the management of each Fund.
SUB-ADVISOR
Cboe Vest(SM) Financial LLC ("Cboe Vest" or the "Sub-Advisor") serves as the
sub-advisor to the Funds. In this capacity, Cboe Vest is responsible for the
selection and ongoing monitoring of the securities in each Fund's investment
portfolio. Cboe Vest, with principal offices at 8350 Broad Street, Suite 240,
McLean, Virginia 22102, was founded in 2012. Cboe Vest had approximately $10.8
billion under management or committed to management as of February 28, 2023.
PORTFOLIO MANAGEMENT TEAM
KARAN SOOD, MANAGING DIRECTOR OF CBOE VEST
HOWARD RUBIN, MANAGING DIRECTOR OF CBOE VEST
Page 30
FIRST TRUST EXCHANGE-TRADED FUND VIII
UNDERSTANDING YOUR FUND EXPENSES
FEBRUARY 28, 2023 (UNAUDITED)
As a shareholder of FT Cboe Vest U.S. Equity Buffer ETF - January, FT Cboe Vest
U.S. Equity Deep Buffer ETF - January, FT Cboe Vest U.S. Equity Buffer ETF -
February, FT Cboe Vest U.S. Equity Deep Buffer ETF - February, FT Cboe Vest U.S.
Equity Buffer ETF - March, FT Cboe Vest U.S. Equity Deep Buffer ETF - March, FT
Cboe Vest U.S. Equity Buffer ETF - April, FT Cboe Vest U.S. Equity Deep Buffer
ETF - April, FT Cboe Vest U.S. Equity Buffer ETF - May, FT Cboe Vest U.S. Equity
Deep Buffer ETF - May, FT Cboe Vest U.S. Equity Buffer ETF - June, FT Cboe Vest
U.S. Equity Deep Buffer ETF - June, FT Cboe Vest U.S. Equity Buffer ETF - July,
FT Cboe Vest U.S. Equity Deep Buffer ETF - July, FT Cboe Vest U.S. Equity Buffer
ETF - August, FT Cboe Vest U.S. Equity Deep Buffer ETF - August, FT Cboe Vest
U.S. Equity Buffer ETF - September, FT Cboe Vest U.S. Equity Deep Buffer ETF -
September, FT Cboe Vest U.S. Equity Buffer ETF - October, FT Cboe Vest U.S.
Equity Deep Buffer ETF - October, FT Cboe Vest U.S. Equity Buffer ETF -
November, FT Cboe Vest U.S. Equity Deep Buffer ETF - November, FT Cboe Vest U.S.
Equity Buffer ETF - December, FT Cboe Vest U.S. Equity Deep Buffer ETF -
December, FT Cboe Vest Buffered Allocation Defensive ETF or FT Cboe Vest
Buffered Allocation Growth ETF (each a "Fund" and collectively, the "Funds"),
you incur two types of costs: (1) transaction costs; and (2) ongoing costs,
including management fees, distribution and/or service (12b-1) fees, if any, and
other Fund expenses. This Example is intended to help you understand your
ongoing costs of investing in the Funds and to compare these costs with the
ongoing costs of investing in other funds.
The Example is based on an investment of $1,000 invested at the beginning of the
period and held through the six-month period ended February 28, 2023.
ACTUAL EXPENSES
The first line in the following table provides information about actual account
values and actual expenses. You may use the information in this line, together
with the amount you invested, to estimate the expenses that you paid over the
period. Simply divide your account value by $1,000 (for example, an $8,600
account value divided by $1,000 = 8.6), then multiply the result by the number
in the first line under the heading entitled "Expenses Paid During the Six-Month
Period" to estimate the expenses you paid on your account during this six-month
period.
HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES
The second line in the following table provides information about hypothetical
account values and hypothetical expenses based on each Fund's actual expense
ratio and an assumed rate of return of 5% per year before expenses, which is not
each Fund's actual return. The hypothetical account values and expenses may not
be used to estimate the actual ending account balance or expenses you paid for
the period. You may use this information to compare the ongoing costs of
investing in the Funds and other funds. To do so, compare this 5% hypothetical
example with the 5% hypothetical examples that appear in the shareholder reports
of the other funds.
Please note that the expenses shown in the table are meant to highlight your
ongoing costs only and do not reflect any transactional costs such as brokerage
commissions. Therefore, the second line in the table is useful in comparing
ongoing costs only, and will not help you determine the relative total costs of
owning different funds. In addition, if these transactional costs were included,
your costs would have been higher.
----------------------------------------------------------------------------------------------------------------------------
ANNUALIZED
EXPENSE RATIO EXPENSES PAID
BEGINNING ENDING BASED ON THE DURING THE
ACCOUNT VALUE ACCOUNT VALUE SIX-MONTH SIX-MONTH
SEPTEMBER 1, 2022 FEBRUARY 28, 2023 PERIOD PERIOD (a)
----------------------------------------------------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - JANUARY (FJAN)
Actual $1,000.00 $1,051.00 0.85% $4.32
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JANUARY (DJAN)
Actual $1,000.00 $ 991.20 0.85% $4.20
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY BUFFER ETF - FEBRUARY (FFEB)
Actual $1,000.00 $1,026.20 0.85% $4.27
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - FEBRUARY (DFEB)
Actual $1,000.00 $ 968.50 0.85% $4.15
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
Page 31
FIRST TRUST EXCHANGE-TRADED FUND VIII
UNDERSTANDING YOUR FUND EXPENSES (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
----------------------------------------------------------------------------------------------------------------------------
ANNUALIZED
EXPENSE RATIO EXPENSES PAID
BEGINNING ENDING BASED ON THE DURING THE
ACCOUNT VALUE ACCOUNT VALUE SIX-MONTH SIX-MONTH
SEPTEMBER 1, 2022 FEBRUARY 28, 2023 PERIOD PERIOD (a)
----------------------------------------------------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - MARCH (FMAR)
Actual $1,000.00 $1,039.30 0.85% $4.30
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - MARCH (DMAR)
Actual $1,000.00 $ 995.70 0.85% $4.21
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY BUFFER ETF - APRIL (FAPR)
Actual $1,000.00 $1,027.60 0.85% $4.27
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - APRIL (DAPR)
Actual $1,000.00 $ 988.60 0.85% $4.19
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY BUFFER ETF - MAY (FMAY)
Actual $1,000.00 $1,007.80 0.85% $4.23
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - MAY (DMAY)
Actual $1,000.00 $1,005.40 0.85% $4.23
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY BUFFER ETF - JUNE (FJUN)
Actual $1,000.00 $1,020.10 0.85% $4.26
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JUNE (DJUN)
Actual $1,000.00 $1,023.40 0.85% $4.26
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY BUFFER ETF - JULY (FJUL)
Actual $1,000.00 $1,016.40 0.85% $4.25
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JULY (DJUL)
Actual $1,000.00 $1,013.80 0.85% $4.24
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY BUFFER ETF - AUGUST (FAUG)
Actual $1,000.00 $1,009.30 0.85% $4.23
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - AUGUST (DAUG)
Actual $1,000.00 $ 996.80 0.85% $4.21
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY BUFFER ETF - SEPTEMBER (FSEP)
Actual $1,000.00 $1,030.30 0.85% $4.28
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - SEPTEMBER (DSEP)
Actual $1,000.00 $1,028.30 0.85% $4.27
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
Page 32
FIRST TRUST EXCHANGE-TRADED FUND VIII
UNDERSTANDING YOUR FUND EXPENSES (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
----------------------------------------------------------------------------------------------------------------------------
ANNUALIZED
EXPENSE RATIO EXPENSES PAID
BEGINNING ENDING BASED ON THE DURING THE
ACCOUNT VALUE ACCOUNT VALUE SIX-MONTH SIX-MONTH
SEPTEMBER 1, 2022 FEBRUARY 28, 2023 PERIOD PERIOD (a)
----------------------------------------------------------------------------------------------------------------------------
FT CBOE VEST U.S. EQUITY BUFFER ETF - OCTOBER (FOCT)
Actual $1,000.00 $1,036.80 0.85% $4.29
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - OCTOBER (DOCT)
Actual $1,000.00 $1,049.70 0.85% $4.32
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY BUFFER ETF - NOVEMBER (FNOV)
Actual $1,000.00 $1,029.30 0.85% $4.28
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - NOVEMBER (DNOV)
Actual $1,000.00 $1,020.10 0.85% $4.26
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY BUFFER ETF - DECEMBER (FDEC)
Actual $1,000.00 $1,034.10 0.85% $4.29
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - DECEMBER (DDEC)
Actual $1,000.00 $1,030.90 0.85% $4.28
Hypothetical (5% return before expenses) $1,000.00 $1,020.58 0.85% $4.26
FT CBOE VEST BUFFERED ALLOCATION DEFENSIVE ETF (BUFT) (b)
Actual $1,000.00 $1,001.60 0.20% $0.99
Hypothetical (5% return before expenses) $1,000.00 $1,023.80 0.20% $1.00
FT CBOE VEST BUFFERED ALLOCATION GROWTH ETF (BUFG) (b)
Actual $1,000.00 $1,019.30 0.20% $1.00
Hypothetical (5% return before expenses) $1,000.00 $1,023.80 0.20% $1.00
(a) Expenses are equal to the annualized expense ratio as indicated in the
table multiplied by the average account value over the period (September
1, 2022 through February 28, 2023), multiplied by 181/365 (to reflect the
six-month period).
(b) Annualized expense ratio and expenses paid during the six-month period do
not include fees and expenses of the underlying funds in which the Fund
invests.
Page 33
FT CBOE VEST U.S. EQUITY BUFFER ETF - JANUARY (FJAN)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 1.1%
2,762,413 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 2,762,413
(Cost $2,762,413) --------------
TOTAL INVESTMENTS -- 1.1%...................................................................... 2,762,413
(Cost $2,762,413) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 103.3%
CALL OPTIONS PURCHASED -- 97.5%
6,254 SPDR(R) S&P 500(R) ETF Trust....................... $ 247,821,004 $ 3.96 01/19/24 241,981,145
(Cost $243,199,622) --------------
PUT OPTIONS PURCHASED -- 5.8%
6,254 SPDR(R) S&P 500(R) ETF Trust....................... 247,821,004 395.88 01/19/24 14,323,711
(Cost $15,518,917) --------------
TOTAL PURCHASED OPTIONS........................................................................ 256,304,856
(Cost $258,718,539) --------------
WRITTEN OPTIONS -- (4.3)%
CALL OPTIONS WRITTEN -- (1.1)%
(6,254) SPDR(R) S&P 500(R) ETF Trust....................... (247,821,004) 471.26 01/19/24 (2,712,907)
(Premiums received $3,970,086) --------------
PUT OPTIONS WRITTEN -- (3.2)%
(6,254) SPDR(R) S&P 500(R) ETF Trust....................... (247,821,004) 356.29 01/19/24 (7,980,915)
(Premiums received $8,613,859) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (10,693,822)
(Premiums received $12,583,945) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (159,014)
--------------
NET ASSETS -- 100.0%........................................................................... $ 248,214,433
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 1.1%
Purchased Options 103.3
Written Options (4.3)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 34 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY BUFFER ETF - JANUARY (FJAN)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 2,762,413 $ 2,762,413 $ -- $ --
Call Options Purchased............................. 241,981,145 -- 241,981,145 --
Put Options Purchased.............................. 14,323,711 -- 14,323,711 --
-------------- -------------- -------------- --------------
Total.............................................. $ 259,067,269 $ 2,762,413 $ 256,304,856 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (2,712,907) $ -- $ (2,712,907) $ --
Put Options Written................................ (7,980,915) -- (7,980,915) --
-------------- -------------- -------------- --------------
Total.............................................. $ (10,693,822) $ -- $ (10,693,822) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 35
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JANUARY (DJAN)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 1.1%
2,234,509 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 2,234,509
(Cost $2,234,509) --------------
Total Investments -- 1.1%...................................................................... 2,234,509
(Cost $2,234,509) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 102.0%
CALL OPTIONS PURCHASED -- 97.6%
5,148 SPDR(R) S&P 500(R) ETF Trust....................... $ 203,994,648 $ 3.95 01/19/24 199,192,459
(Cost $199,881,041) --------------
PUT OPTIONS PURCHASED -- 4.4%
5,148 SPDR(R) S&P 500(R) ETF Trust....................... 203,994,648 376.09 01/19/24 8,880,696
(Cost $9,894,500) --------------
TOTAL PURCHASED OPTIONS........................................................................ 208,073,155
(Cost $209,775,541) --------------
WRITTEN OPTIONS -- (3.0)%
CALL OPTIONS WRITTEN -- (2.1)%
(5,148) SPDR(R) S&P 500(R) ETF Trust....................... (203,994,648) 454.07 01/19/24 (4,246,118)
(Premiums received $5,509,172) --------------
PUT OPTIONS WRITTEN -- (0.9)%
(5,148) SPDR(R) S&P 500(R) ETF Trust....................... (203,994,648) 277.12 01/19/24 (1,808,957)
(Premiums received $1,995,183) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (6,055,075)
(Premiums received $7,504,355) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (117,620)
--------------
NET ASSETS -- 100.0%........................................................................... $ 204,134,969
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 1.1%
Purchased Options 102.0
Written Options (3.0)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 36 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JANUARY (DJAN)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 2,234,509 $ 2,234,509 $ -- $ --
Call Options Purchased............................. 199,192,459 -- 199,192,459 --
Put Options Purchased.............................. 8,880,696 -- 8,880,696 --
-------------- -------------- -------------- --------------
Total.............................................. $ 210,307,664 $ 2,234,509 $ 208,073,155 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (4,246,118) $ -- $ (4,246,118) $ --
Put Options Written................................ (1,808,957) -- (1,808,957) --
-------------- -------------- -------------- --------------
Total.............................................. $ (6,055,075) $ -- $ (6,055,075) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 37
FT CBOE VEST U.S. EQUITY BUFFER ETF - FEBRUARY (FFEB)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 1.2%
3,756,769 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 3,756,769
(Cost $3,756,769) --------------
TOTAL INVESTMENTS -- 1.2%...................................................................... 3,756,769
(Cost $3,756,769) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 103.6%
CALL OPTIONS PURCHASED -- 96.7%
8,028 SPDR(R) S&P 500(R) ETF Trust....................... $ 318,117,528 $ 4.07 02/16/24 310,450,788
(Cost $317,837,780) --------------
PUT OPTIONS PURCHASED -- 6.9%
8,028 SPDR(R) S&P 500(R) ETF Trust....................... 318,117,528 407.26 02/16/24 22,149,252
(Cost $20,532,274) --------------
TOTAL PURCHASED OPTIONS........................................................................ 332,600,040
(Cost $338,370,054) --------------
WRITTEN OPTIONS -- (4.7)%
CALL OPTIONS WRITTEN -- (0.8)%
(8,028) SPDR(R) S&P 500(R) ETF Trust....................... (318,117,528) 485.66 02/16/24 (2,560,932)
(Premiums received $4,513,944) --------------
PUT OPTIONS WRITTEN -- (3.9)%
(8,028) SPDR(R) S&P 500(R) ETF Trust....................... (318,117,528) 366.53 02/16/24 (12,595,932)
(Premiums received $11,538,516) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (15,156,864)
(Premiums received $16,052,460) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (168,438)
--------------
NET ASSETS -- 100.0%........................................................................... $ 321,031,507
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 1.2%
Purchased Options 103.6
Written Options (4.7)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 38 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY BUFFER ETF - FEBRUARY (FFEB)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 3,756,769 $ 3,756,769 $ -- $ --
Call Options Purchased............................. 310,450,788 -- 310,450,788 --
Put Options Purchased.............................. 22,149,252 -- 22,149,252 --
-------------- -------------- -------------- --------------
Total.............................................. $ 336,356,809 $ 3,756,769 $ 332,600,040 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (2,560,932) $ -- $ (2,560,932) $ .--
Put Options Written................................ (12,595,932) -- (12,595,932) --
-------------- -------------- -------------- --------------
Total.............................................. $ (15,156,864) $ -- $ (15,156,864) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 39
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - FEBRUARY (DFEB)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 1.1%
2,969,148 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 2,969,148
(Cost $2,969,148) --------------
TOTAL INVESTMENTS -- 1.1%...................................................................... 2,969,148
(Cost $2,969,148) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 101.5%
CALL OPTIONS PURCHASED -- 96.3%
6,451 SPDR(R) S&P 500(R) ETF Trust....................... $ 255,627,326 $ 4.06 02/16/24 249,505,327
(Cost $255,765,087) --------------
PUT OPTIONS PURCHASED -- 5.2%
6,451 SPDR(R) S&P 500(R) ETF Trust....................... 255,627,326 386.90 02/16/24 13,437,433
(Cost $12,383,555) --------------
TOTAL PURCHASED OPTIONS........................................................................ 262,942,760
(Cost $268,148,642) --------------
WRITTEN OPTIONS -- (2.6)%
CALL OPTIONS WRITTEN -- (1.5)%
(6,451) SPDR(R) S&P 500(R) ETF Trust....................... (255,627,326) 468.23 02/16/24 (4,012,522)
(Premiums received $5,996,385) --------------
PUT OPTIONS WRITTEN -- (1.1)%
(6,451) SPDR(R) S&P 500(R) ETF Trust....................... (255,627,326) 285.08 02/16/24 (2,767,479)
(Premiums received $2,714,040) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (6,780,001)
(Premiums received $8,710,425) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.0)%..................................................... (112,571)
--------------
NET ASSETS -- 100.0%........................................................................... $ 259,019,336
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 1.1%
Purchased Options 101.5
Written Options (2.6)
Net Other Assets and Liabilities (0.0) (1)
-------
Total 100.0%
=======
(1) Amount is less than 0.1%.
Page 40 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - FEBRUARY (DFEB)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 2,969,148 $ 2,969,148 $ -- $ --
Call Options Purchased............................. 249,505,327 -- 249,505,327 --
Put Options Purchased.............................. 13,437,433 -- 13,437,433 --
-------------- -------------- -------------- --------------
Total.............................................. $ 265,911,908 $ 2,969,148 $ 262,942,760 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (4,012,522) $ -- $ (4,012,522) $ --
Put Options Written................................ (2,767,479) -- (2,767,479) --
-------------- -------------- -------------- --------------
Total.............................................. $ (6,780,001) $ -- $ (6,780,001) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 41
FT CBOE VEST U.S. EQUITY BUFFER ETF - MARCH (FMAR)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.4%
900,167 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 900,167
(Cost $900,167) --------------
TOTAL INVESTMENTS -- 0.4%...................................................................... 900,167
(Cost $900,167) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 102.0%
CALL OPTIONS PURCHASED -- 90.3%
4,736 SPDR(R) S&P 500(R) ETF Trust....................... $ 187,668,736 $ 4.45 03/17/23 184,146,362
(Cost $199,573,191) --------------
PUT OPTIONS PURCHASED -- 11.7%
4,736 SPDR(R) S&P 500(R) ETF Trust....................... 187,668,736 444.52 03/17/23 23,723,227
(Cost $23,253,199) --------------
TOTAL PURCHASED OPTIONS........................................................................ 207,869,589
(Cost $222,826,390) --------------
WRITTEN OPTIONS -- (2.3)%
CALL OPTIONS WRITTEN -- (0.0)%
(4,736) SPDR(R) S&P 500(R) ETF Trust....................... (187,668,736) 510.22 03/17/23 (3,027)
(Premiums received $2,648,525) --------------
PUT OPTIONS WRITTEN -- (2.3)%
(4,736) SPDR(R) S&P 500(R) ETF Trust....................... (187,668,736) 400.07 03/17/23 (4,657,745)
(Premiums received $11,156,332) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (4,660,772)
(Premiums received $13,804,857) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (128,773)
--------------
NET ASSETS -- 100.0%........................................................................... $ 203,980,211
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.4%
Purchased Options 102.0
Written Options (2.3)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 42 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY BUFFER ETF - MARCH (FMAR)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 900,167 $ 900,167 $ -- $ --
Call Options Purchased............................. 184,146,362 -- 184,146,362 --
Put Options Purchased.............................. 23,723,227 -- 23,723,227 --
-------------- -------------- -------------- --------------
Total.............................................. $ 208,769,756 $ 900,167 $ 207,869,589 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (3,027) $ -- $ (3,027) $ --
Put Options Written................................ (4,657,745) -- (4,657,745) --
-------------- -------------- -------------- --------------
Total.............................................. $ (4,660,772) $ -- $ (4,660,772) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 43
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - MARCH (DMAR)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.4%
962,410 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 962,410
(Cost $962,410) --------------
TOTAL INVESTMENTS -- 0.4%...................................................................... 962,410
(Cost $962,410) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 99.7%
CALL OPTIONS PURCHASED -- 93.0%
5,220 SPDR(R) S&P 500(R) ETF Trust....................... $ 206,847,720 $ 4.44 03/17/23 202,970,579
(Cost $220,921,183) --------------
PUT OPTIONS PURCHASED -- 6.7%
5,220 SPDR(R) S&P 500(R) ETF Trust....................... 206,847,720 422.29 03/17/23 14,635,758
(Cost $19,737,307) --------------
TOTAL PURCHASED OPTIONS........................................................................ 217,606,337
(Cost $240,658,490) --------------
WRITTEN OPTIONS -- (0.0)%
CALL OPTIONS WRITTEN -- (0.0)%
(5,220) SPDR(R) S&P 500(R) ETF Trust....................... (206,847,720) 489.06 03/17/23 (3,677)
(Premiums received $654,375) --------------
PUT OPTIONS WRITTEN -- (0.0)%
(5,220) SPDR(R) S&P 500(R) ETF Trust....................... (206,847,720) 311.16 03/17/23 (22,878)
(Premiums received $1,737,470) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (26,555)
(Premiums received $2,391,845) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (162,375)
--------------
NET ASSETS -- 100.0%........................................................................... $ 218,379,817
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.4%
Purchased Options 99.7
Written Options (0.0) (1)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
(1) Amount is less than 0.1%.
Page 44 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - MARCH (DMAR)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 962,410 $ 962,410 $ -- $ --
Call Options Purchased............................. 202,970,579 -- 202,970,579 --
Put Options Purchased.............................. 14,635,758 -- 14,635,758 --
-------------- -------------- -------------- --------------
Total.............................................. $ 218,568,747 $ 962,410 $ 217,606,337 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (3,677) $ -- $ (3,677) $ --
Put Options Written................................ (22,878) -- (22,878) --
-------------- -------------- -------------- --------------
Total.............................................. $ (26,555) $ -- $ (26,555) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 45
FT CBOE VEST U.S. EQUITY BUFFER ETF - APRIL (FAPR)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.5%
1,295,021 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 1,295,021
(Cost $1,295,021) --------------
TOTAL INVESTMENTS -- 0.5%...................................................................... 1,295,021
(Cost $1,295,021) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 101.9%
CALL OPTIONS PURCHASED -- 92.3%
5,860 SPDR(R) S&P 500(R) ETF Trust....................... $ 232,208,360 $ 4.38 04/21/23 228,485,876
(Cost $246,368,610) --------------
PUT OPTIONS PURCHASED -- 9.6%
5,860 SPDR(R) S&P 500(R) ETF Trust....................... 232,208,360 437.79 04/21/23 23,835,155
(Cost $23,821,781) --------------
TOTAL PURCHASED OPTIONS........................................................................ 252,321,031
(Cost $270,190,391) --------------
WRITTEN OPTIONS -- (2.3)%
CALL OPTIONS WRITTEN -- (0.0)%
(5,860) SPDR(R) S&P 500(R) ETF Trust....................... (232,208,360) 509.37 04/21/23 (4,497)
(Premiums received $3,230,691) --------------
PUT OPTIONS WRITTEN -- (2.3)%
(5,860) SPDR(R) S&P 500(R) ETF Trust....................... (232,208,360) 394.01 04/21/23 (5,718,564)
(Premiums received $13,220,301) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (5,723,061)
(Premiums received $16,450,992) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (157,891)
--------------
NET ASSETS -- 100.0%........................................................................... $ 247,735,100
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.5%
Purchased Options 101.9
Written Options (2.3)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 46 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY BUFFER ETF - APRIL (FAPR)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 1,295,021 $ 1,295,021 $ -- $ --
Call Options Purchased............................. 228,485,876 -- 228,485,876 --
Put Options Purchased.............................. 23,835,155 -- 23,835,155 --
-------------- -------------- -------------- --------------
Total.............................................. $ 253,616,052 $ 1,295,021 $ 252,321,031 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (4,497) $ -- $ (4,497) $ --
Put Options Written................................ (5,718,564) -- (5,718,564) --
-------------- -------------- -------------- --------------
Total.............................................. $ (5,723,061) $ -- $ (5,723,061) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 47
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - APRIL (DAPR)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.5%
1,628,884 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 1,628,884
(Cost $1,628,884) --------------
TOTAL INVESTMENTS -- 0.5%...................................................................... 1,628,884
(Cost $1,628,884) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 99.7%
CALL OPTIONS PURCHASED -- 94.4%
7,700 SPDR(R) S&P 500(R) ETF Trust....................... $ 305,120,200 $ 4.37 04/21/23 300,236,525
(Cost $309,662,201) --------------
PUT OPTIONS PURCHASED -- 5.3%
7,700 SPDR(R) S&P 500(R) ETF Trust....................... 305,120,200 415.90 04/21/23 16,748,466
(Cost $28,360,557) --------------
TOTAL PURCHASED OPTIONS........................................................................ 316,984,991
(Cost $338,022,758) --------------
WRITTEN OPTIONS -- (0.1)%
CALL OPTIONS WRITTEN -- (0.0)%
(7,700) SPDR(R) S&P 500(R) ETF Trust....................... (305,120,200) 485.77 04/21/23 (8,733)
(Premiums received $4,139,567) --------------
PUT OPTIONS WRITTEN -- (0.1)%
(7,700) SPDR(R) S&P 500(R) ETF Trust....................... (305,120,200) 306.45 04/21/23 (217,436)
(Premiums received $5,559,855) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (226,169)
(Premiums received $9,699,422) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (197,666)
--------------
NET ASSETS -- 100.0%........................................................................... $ 318,190,040
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.5%
Purchased Options 99.7
Written Options (0.1)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 48 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - APRIL (DAPR)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 1,628,884 $ 1,628,884 $ -- $ --
Call Options Purchased............................. 300,236,525 -- 300,236,525 --
Put Options Purchased.............................. 16,748,466 -- 16,748,466 --
-------------- -------------- -------------- --------------
Total.............................................. $ 318,613,875 $ 1,628,884 $ 316,984,991 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (8,733) $ -- $ (8,733) $ --
Put Options Written................................ (217,436) -- (217,436) --
-------------- -------------- -------------- --------------
Total.............................................. $ (226,169) $ -- $ (226,169) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 49
FT CBOE VEST U.S. EQUITY BUFFER - MAY (FMAY)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.6%
1,758,108 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 1,758,108
(Cost $1,758,108) --------------
TOTAL INVESTMENTS -- 0.6%...................................................................... 1,758,108
(Cost $1,758,108) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 100.2%
CALL OPTIONS PURCHASED -- 97.7%
8,132 SPDR(R) S&P 500(R) ETF Trust....................... $ 322,238,632 $ 3.90 05/19/23 317,733,131
(Cost $316,240,919) --------------
PUT OPTIONS PURCHASED -- 2.5%
8,132 SPDR(R) S&P 500(R) ETF Trust....................... 322,238,632 389.63 05/19/23 8,283,818
(Cost $28,439,229) --------------
TOTAL PURCHASED OPTIONS........................................................................ 326,016,949
(Cost $344,680,148) --------------
WRITTEN OPTIONS -- (0.7)%
CALL OPTIONS WRITTEN -- (0.0)%
(8,132) SPDR(R) S&P 500(R) ETF Trust....................... (322,238,632) 469.31 05/19/23 (72,704)
(Premiums received $5,710,911) --------------
PUT OPTIONS WRITTEN -- (0.7)%
(8,132) SPDR(R) S&P 500(R) ETF Trust....................... (322,238,632) 350.67 05/19/23 (2,150,192)
(Premiums received $14,532,323) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (2,222,896)
(Premiums received $20,243,234) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (229,241)
--------------
NET ASSETS -- 100.0%........................................................................... $ 325,322,920
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.6%
Purchased Options 100.2
Written Options (0.7)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 50 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY BUFFER - MAY (FMAY)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 1,758,108 $ 1,758,108 $ -- $ --
Call Options Purchased............................. 317,733,131 -- 317,733,131 --
Put Options Purchased.............................. 8,283,818 -- 8,283,818 --
-------------- -------------- -------------- --------------
Total.............................................. $ 327,775,057 $ 1,758,108 $ 326,016,949 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (72,704) $ -- $ (72,704) $ --
Put Options Written................................ (2,150,192) -- (2,150,192) --
-------------- -------------- -------------- --------------
Total.............................................. $ (2,222,896) $ -- $ (2,222,896) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 51
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - MAY (DMAY)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.5%
753,026 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 753,026
(Cost $753,026) --------------
TOTAL INVESTMENTS -- 0.5%...................................................................... 753,026
(Cost $753,026) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 99.8%
CALL OPTIONS PURCHASED -- 98.5%
3,644 SPDR(R) S&P 500(R) ETF Trust....................... $ 144,397,144 $ 3.89 05/19/23 142,381,804
(Cost $143,940,452) --------------
PUT OPTIONS PURCHASED -- 1.3%
3,644 SPDR(R) S&P 500(R) ETF Trust....................... 144,397,144 370.15 05/19/23 1,921,018
(Cost $10,185,082) --------------
TOTAL PURCHASED OPTIONS........................................................................ 144,302,822
(Cost $154,125,534) --------------
WRITTEN OPTIONS -- (0.2)%
CALL OPTIONS WRITTEN -- (0.2)%
(3,644) SPDR(R) S&P 500(R) ETF Trust....................... (144,397,144) 443.91 05/19/23 (265,705)
(Premiums received $4,091,348) --------------
PUT OPTIONS WRITTEN -- (0.0)%
(3,644) SPDR(R) S&P 500(R) ETF Trust....................... (144,397,144) 272.74 05/19/23 (74,372)
(Premiums received $1,779,655) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (340,077)
(Premiums received $5,871,003) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (95,034)
--------------
NET ASSETS -- 100.0%........................................................................... $ 144,620,737
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.5%
Purchased Options 99.8
Written Options (0.2)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 52 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - MAY (DMAY)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 753,026 $ 753,026 $ -- $ --
Call Options Purchased............................. 142,381,804 -- 142,381,804 --
Put Options Purchased.............................. 1,921,018 -- 1,921,018 --
-------------- -------------- -------------- --------------
Total.............................................. $ 145,055,848 $ 753,026 $ 144,302,822 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (265,705) $ -- $ (265,705) $ --
Put Options Written................................ (74,372) -- (74,372) --
-------------- -------------- -------------- --------------
Total.............................................. $ (340,077) $ -- $ (340,077) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 53
FT CBOE VEST U.S. EQUITY BUFFER ETF - JUNE (FJUN)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.6%
1,613,960 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 1,613,960
(Cost $1,613,960) --------------
TOTAL INVESTMENTS -- 0.6%...................................................................... 1,613,960
(Cost $1,613,960) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 100.4%
CALL OPTIONS PURCHASED -- 98.7%
7,086 SPDR(R) S&P 500(R) ETF Trust....................... $ 280,789,836 $ 3.66 06/16/23 275,647,992
(Cost $257,994,962) --------------
PUT OPTIONS PURCHASED -- 1.7%
7,086 SPDR(R) S&P 500(R) ETF Trust....................... 280,789,836 365.86 06/16/23 4,732,007
(Cost $22,266,585) --------------
TOTAL PURCHASED OPTIONS........................................................................ 280,379,999
(Cost $280,261,547) --------------
WRITTEN OPTIONS -- (0.9)%
CALL OPTIONS WRITTEN -- (0.3)%
(7,086) SPDR(R) S&P 500(R) ETF Trust....................... (280,789,836) 447.08 06/16/23 (778,155)
(Premiums received $4,966,683) --------------
PUT OPTIONS WRITTEN -- (0.6)%
(7,086) SPDR(R) S&P 500(R) ETF Trust....................... (280,789,836) 329.27 06/16/23 (1,627,252)
(Premiums received $12,733,448) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (2,405,407)
(Premiums received $17,700,131) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (180,368)
--------------
NET ASSETS -- 100.0%........................................................................... $ 279,408,184
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.6%
Purchased Options 100.4
Written Options (0.9)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 54 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY BUFFER ETF - JUNE (FJUN)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 1,613,960 $ 1,613,960 $ -- $ --
Call Options Purchased............................. 275,647,992 -- 275,647,992 --
Put Options Purchased.............................. 4,732,007 -- 4,732,007 --
-------------- -------------- -------------- --------------
Total.............................................. $ 281,993,959 $ 1,613,960 $ 280,379,999 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (778,155) $ -- $ (778,155) $ --
Put Options Written................................ (1,627,252) -- (1,627,252) --
-------------- -------------- -------------- --------------
Total.............................................. $ (2,405,407) $ -- $ (2,405,407) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 55
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JUNE (DJUN)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.6%
920,765 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 920,765
(Cost $920,765) --------------
TOTAL INVESTMENTS -- 0.6%...................................................................... 920,765
(Cost $920,765) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 100.9%
CALL OPTIONS PURCHASED -- 99.9%
4,221 SPDR(R) S&P 500(R) ETF Trust....................... $ 167,261,346 $ 3.65 06/16/23 164,202,601
(Cost $154,188,559) --------------
PUT OPTIONS PURCHASED -- 1.0%
4,221 SPDR(R) S&P 500(R) ETF Trust....................... 167,261,346 347.57 06/16/23 1,616,595
(Cost $10,879,552) --------------
TOTAL PURCHASED OPTIONS........................................................................ 165,819,196
(Cost $165,068,111) --------------
WRITTEN OPTIONS -- (1.4)%
CALL OPTIONS WRITTEN -- (1.3)%
(4,221) SPDR(R) S&P 500(R) ETF Trust....................... (167,261,346) 422.90 06/16/23 (2,187,688)
(Premiums received $5,792,356) --------------
PUT OPTIONS WRITTEN -- (0.1)%
(4,221) SPDR(R) S&P 500(R) ETF Trust....................... (167,261,346) 256.10 06/16/23 (86,497)
(Premiums received $2,728,177) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (2,274,185)
(Premiums received $8,520,533) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (104,663)
--------------
NET ASSETS -- 100.0%........................................................................... $ 164,361,113
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.6%
Purchased Options 100.9
Written Options (1.4)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 56 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JUNE (DJUN)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 920,765 $ 920,765 $ -- $ --
Call Options Purchased............................. 164,202,601 -- 164,202,601 --
Put Options Purchased.............................. 1,616,595 -- 1,616,595 --
-------------- -------------- -------------- --------------
Total.............................................. $ 166,739,961 $ 920,765 $ 165,819,196 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (2,187,688) $ -- $ (2,187,688) $ --
Put Options Written................................ (86,497) -- (86,497) --
-------------- -------------- -------------- --------------
Total.............................................. $ (2,274,185) $ -- $ (2,274,185) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 57
FT CBOE VEST U.S. EQUITY BUFFER ETF - JULY (FJUL)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.7%
1,511,759 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 1,511,759
(Cost $1,511,759) --------------
TOTAL INVESTMENTS -- 0.7%...................................................................... 1,511,759
(Cost $1,511,759) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 100.7%
CALL OPTIONS PURCHASED -- 97.4%
5,588 SPDR(R) S&P 500(R) ETF Trust....................... $ 221,430,088 $ 3.85 07/21/23 217,553,652
(Cost $213,342,823) --------------
PUT OPTIONS PURCHASED -- 3.3%
5,588 SPDR(R) S&P 500(R) ETF Trust....................... 221,430,088 385.13 07/21/23 7,425,675
(Cost $17,389,076) --------------
TOTAL PURCHASED OPTIONS........................................................................ 224,979,327
(Cost $230,731,899) --------------
WRITTEN OPTIONS -- (1.3)%
CALL OPTIONS WRITTEN -- (0.1)%
(5,588) SPDR(R) S&P 500(R) ETF Trust....................... (221,430,088) 467.16 07/21/23 (318,617)
(Premiums received $4,097,346) --------------
PUT OPTIONS WRITTEN -- (1.2)%
(5,588) SPDR(R) S&P 500(R) ETF Trust....................... (221,430,088) 346.62 07/21/23 (2,713,317)
(Premiums received $10,553,578) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (3,031,934)
(Premiums received $14,650,924) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (142,320)
--------------
NET ASSETS -- 100.0%........................................................................... $ 223,316,832
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.7%
Purchased Options 100.7
Written Options (1.3)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 58 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY BUFFER ETF - JULY (FJUL)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 1,511,759 $ 1,511,759 $ -- $ --
Call Options Purchased............................. 217,553,652 -- 217,553,652 --
Put Options Purchased.............................. 7,425,675 -- 7,425,675 --
-------------- -------------- -------------- --------------
Total.............................................. $ 226,491,086 $ 1,511,759 $ 224,979,327 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (318,617) $ -- $ (318,617) $ --
Put Options Written................................ (2,713,317) -- (2,713,317) --
-------------- -------------- -------------- --------------
Total.............................................. $ (3,031,934) $ -- $ (3,031,934) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 59
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JULY (DJUL)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.6%
938,217 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 938,217
(Cost $938,217) --------------
TOTAL INVESTMENTS -- 0.6%...................................................................... 938,217
(Cost $938,217) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 100.3%
CALL OPTIONS PURCHASED -- 98.3%
3,723 SPDR(R) S&P 500(R) ETF Trust....................... $ 147,527,598 $ 3.84 07/21/23 144,948,574
(Cost $144,143,028) --------------
PUT OPTIONS PURCHASED -- 2.0%
3,723 SPDR(R) S&P 500(R) ETF Trust....................... 147,527,598 365.87 07/21/23 2,968,161
(Cost $9,207,558) --------------
TOTAL PURCHASED OPTIONS........................................................................ 147,916,735
(Cost $153,350,586) --------------
WRITTEN OPTIONS -- (0.8)%
CALL OPTIONS WRITTEN -- (0.7)%
(3,723) SPDR(R) S&P 500(R) ETF Trust....................... (147,527,598) 442.98 07/21/23 (1,003,064)
(Premiums received $5,004,485) --------------
PUT OPTIONS WRITTEN -- (0.1)%
(3,723) SPDR(R) S&P 500(R) ETF Trust....................... (147,527,598) 269.59 07/21/23 (238,602)
(Premiums received $2,099,168) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (1,241,666)
(Premiums received $7,103,653) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (94,610)
--------------
NET ASSETS -- 100.0%........................................................................... $ 147,518,676
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.6%
Purchased Options 100.3
Written Options (0.8)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 60 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JULY (DJUL)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 938,217 $ 938,217 $ -- $ --
Call Options Purchased............................. 144,948,574 -- 144,948,574 --
Put Options Purchased.............................. 2,968,161 -- 2,968,161 --
-------------- -------------- -------------- --------------
Total.............................................. $ 148,854,952 $ 938,217 $ 147,916,735 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (1,003,064) $ -- $ (1,003,064) $ --
Put Options Written................................ (238,602) -- (238,602) --
-------------- -------------- -------------- --------------
Total.............................................. $ (1,241,666) $ -- $ (1,241,666) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 61
FT CBOE VEST U.S. EQUITY BUFFER ETF - AUGUST (FAUG)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.8%
2,696,928 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 2,696,928
(Cost $2,696,928) --------------
TOTAL INVESTMENTS -- 0.8%...................................................................... 2,696,928
(Cost $2,696,928) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 102.4%
CALL OPTIONS PURCHASED -- 95.2%
8,125 SPDR(R) S&P 500(R) ETF Trust....................... $ 321,961,250 $ 4.22 08/18/23 316,177,691
(Cost $331,448,090) --------------
PUT OPTIONS PURCHASED -- 7.2%
8,125 SPDR(R) S&P 500(R) ETF Trust....................... 321,961,250 422.14 08/18/23 23,760,605
(Cost $31,247,400) --------------
TOTAL PURCHASED OPTIONS........................................................................ 339,938,296
(Cost $362,695,490) --------------
WRITTEN OPTIONS -- (3.1)%
CALL OPTIONS WRITTEN -- (0.0)%
(8,125) SPDR(R) S&P 500(R) ETF Trust....................... (321,961,250) 508.51 08/18/23 (76,630)
(Premiums received $6,349,742) --------------
PUT OPTIONS WRITTEN -- (3.1)%
(8,125) SPDR(R) S&P 500(R) ETF Trust....................... (321,961,250) 379.93 08/18/23 (10,150,781)
(Premiums received $17,966,447) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (10,227,411)
(Premiums received $24,316,189) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (200,151)
--------------
NET ASSETS -- 100.0%........................................................................... $ 332,207,662
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.8%
Purchased Options 102.4
Written Options (3.1)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 62 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY BUFFER ETF - AUGUST (FAUG)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 2,696,928 $ 2,696,928 $ -- $ --
Call Options Purchased............................. 316,177,691 -- 316,177,691 --
Put Options Purchased.............................. 23,760,605 -- 23,760,605 --
-------------- -------------- -------------- --------------
Total.............................................. $ 342,635,224 $ 2,696,928 $ 339,938,296 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (76,630) $ -- $ (76,630) $ --
Put Options Written................................ (10,150,781) -- (10,150,781) --
-------------- -------------- -------------- --------------
Total.............................................. $ (10,227,411) $ -- $ (10,227,411) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 63
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - AUGUST (DAUG)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.8%
3,424,031 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 3,424,031
(Cost $3,424,031) --------------
TOTAL INVESTMENTS -- 0.8%...................................................................... 3,424,031
(Cost $3,424,031) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 99.8%
CALL OPTIONS PURCHASED -- 95.1%
10,949 SPDR(R) S&P 500(R) ETF Trust....................... $ 33,865,074 $ 4.21 08/18/23 426,082,012
(Cost $429,298,913) --------------
PUT OPTIONS PURCHASED -- 4.7%
10,949 SPDR(R) S&P 500(R) ETF Trust....................... 433,865,074 401.03 08/18/23 21,082,020
(Cost $32,489,201) --------------
TOTAL PURCHASED OPTIONS........................................................................ 447,164,032
(Cost $461,788,114) --------------
WRITTEN OPTIONS -- (0.5)%
CALL OPTIONS WRITTEN -- (0.1)%
(10,949) SPDR(R) S&P 500(R) ETF Trust....................... (433,865,074) 483.22 08/18/23 (456,634)
(Premiums received $7,133,762) --------------
PUT OPTIONS WRITTEN -- (0.4)%
(10,949) SPDR(R) S&P 500(R) ETF Trust....................... (433,865,074) 295.50 08/18/23 (1,901,637)
(Premiums received $7,391,726) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (2,358,271)
(Premiums received $14,525,488) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (265,694)
--------------
NET ASSETS -- 100.0%........................................................................... $ 447,964,098
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.8%
Purchased Options 99.8
Written Options (0.5)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 64 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - AUGUST (DAUG)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 3,424,031 $ 3,424,031 $ -- $ --
Call Options Purchased............................. 426,082,012 -- 426,082,012 --
Put Options Purchased.............................. 21,082,020 -- 21,082,020 --
-------------- -------------- -------------- --------------
Total.............................................. $ 450,588,063 $ 3,424,031 $ 447,164,032 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (456,634) $ -- $ (456,634) $ --
Put Options Written................................ (1,901,637) -- (1,901,637) --
-------------- -------------- -------------- --------------
Total.............................................. $ (2,358,271) $ -- $ (2,358,271) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 65
FT CBOE VEST U.S. EQUITY BUFFER ETF - SEPTEMBER (FSEP)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.8%
2,491,513 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 2,491,513
(Cost $2,491,513) --------------
TOTAL INVESTMENTS -- 0.8%...................................................................... 2,491,513
(Cost $2,491,513) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 101.3%
CALL OPTIONS PURCHASED -- 97.3%
7,572 SPDR(R) S&P 500(R) ETF Trust....................... $ 300,048,072 $ 3.86 09/15/23 293,666,553
(Cost $285,760,310) --------------
PUT OPTIONS PURCHASED -- 4.0%
7,572 SPDR(R) S&P 500(R) ETF Trust....................... 300,048,072 385.56 09/15/23 11,927,434
(Cost $19,024,068) --------------
TOTAL PURCHASED OPTIONS........................................................................ 305,593,987
(Cost $304,784,378) --------------
WRITTEN OPTIONS -- (2.0)%
CALL OPTIONS WRITTEN -- (0.2)%
(7,572) SPDR(R) S&P 500(R) ETF Trust....................... (300,048,072) 475.82 09/15/23 (662,573)
(Premiums received $5,379,822) --------------
PUT OPTIONS WRITTEN -- (1.8)%
(7,572) SPDR(R) S&P 500(R) ETF Trust....................... (300,048,072) 347.00 09/15/23 (5,524,347)
(Premiums received $10,507,415) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (6,186,920)
(Premiums received $15,887,237) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (190,600)
--------------
NET ASSETS -- 100.0%........................................................................... $ 301,707,980
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.8%
Purchased Options 101.3
Written Options (2.0)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 66 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY BUFFER ETF - SEPTEMBER (FSEP)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 2,491,513 $ 2,491,513 $ -- $ --
Call Options Purchased............................. 293,666,553 -- 293,666,553 --
Put Options Purchased.............................. 11,927,434 -- 11,927,434 --
-------------- -------------- -------------- --------------
Total.............................................. $ 308,085,500 $ 2,491,513 $ 305,593,987 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (662,573) $ -- $ (662,573) $ --
Put Options Written................................ (5,524,347) -- (5,524,347) --
-------------- -------------- -------------- --------------
Total.............................................. $ (6,186,920) $ -- $ (6,186,920) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 67
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - SEPTEMBER (DSEP)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.8%
1,598,981 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 1,598,981
(Cost $1,598,981) --------------
TOTAL INVESTMENTS -- 0.8%...................................................................... 1,598,981
(Cost $1,598,981) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 100.5%
CALL OPTIONS PURCHASED -- 97.8%
5,050 SPDR(R) S&P 500(R) ETF Trust....................... $ 200,111,300 $ 3.85 09/15/23 195,860,175
(Cost $187,092,542) --------------
PUT OPTIONS PURCHASED -- 2.7%
5,050 SPDR(R) S&P 500(R) ETF Trust....................... 200,111,300 366.28 09/15/23 5,436,344
(Cost $14,568,123) --------------
TOTAL PURCHASED OPTIONS........................................................................ 201,296,519
(Cost $201,660,665) --------------
WRITTEN OPTIONS -- (1.2)%
CALL OPTIONS WRITTEN -- (0.8)%
(5,050) SPDR(R) S&P 500(R) ETF Trust....................... (200,111,300) 451.03 09/15/23 (1,684,945)
(Premiums received $4,928,307) --------------
PUT OPTIONS WRITTEN -- (0.4)%
(5,050) SPDR(R) S&P 500(R) ETF Trust....................... (200,111,300) 269.89 09/15/23 (832,148)
(Premiums received $3,375,172) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (2,517,093)
(Premiums received $8,303,479) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (118,517)
--------------
NET ASSETS -- 100.0%........................................................................... $ 200,259,890
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.8%
Purchased Options 100.5
Written Options (1.2)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 68 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - SEPTEMBER (DSEP)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 1,598,981 $ 1,598,981 $ -- $ --
Call Options Purchased............................. 195,860,175 -- 195,860,175 --
Put Options Purchased.............................. 5,436,344 -- 5,436,344 --
-------------- -------------- -------------- --------------
Total.............................................. $ 202,895,500 $ 1,598,981 $ 201,296,519 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (1,684,945) $ -- $ (1,684,945) $ --
Put Options Written................................ (832,148) -- (832,148) --
-------------- -------------- -------------- --------------
Total.............................................. $ (2,517,093) $ -- $ (2,517,093) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 69
FT CBOE VEST U.S. EQUITY BUFFER ETF - OCTOBER (FOCT)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.9%
2,597,068 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 2,597,068
(Cost $2,597,068) --------------
TOTAL INVESTMENTS -- 0.9%...................................................................... 2,597,068
(Cost $2,597,068) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 101.3%
CALL OPTIONS PURCHASED -- 97.8%
7,449 SPDR(R) S&P 500(R) ETF Trust....................... $ 295,174,074 $ 3.74 10/20/23 289,278,677
(Cost $273,292,803) --------------
PUT OPTIONS PURCHASED -- 3.5%
7,449 SPDR(R) S&P 500(R) ETF Trust....................... 295,174,074 374.29 10/20/23 10,401,142
(Cost $23,325,732) --------------
TOTAL PURCHASED OPTIONS........................................................................ 299,679,819
(Cost $296,618,535) --------------
WRITTEN OPTIONS -- (2.1)%
CALL OPTIONS WRITTEN -- (0.4)%
(7,449) SPDR(R) S&P 500(R) ETF Trust....................... (295,174,074) 475.80 10/20/23 (1,109,068)
(Premiums received $5,058,754) --------------
PUT OPTIONS WRITTEN -- (1.7)%
(7,449) SPDR(R) S&P 500(R) ETF Trust....................... (295,174,074) 336.86 10/20/23 (5,189,300)
(Premiums received $14,239,919) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (6,298,368)
(Premiums received $19,298,673) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (188,833)
--------------
NET ASSETS -- 100.0%........................................................................... $ 295,789,686
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.9%
Purchased Options 101.3
Written Options (2.1)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 70 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY BUFFER ETF - OCTOBER (FOCT)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 2,597,068 $ 2,597,068 $ -- $ --
Call Options Purchased............................. 289,278,677 -- 289,278,677 --
Put Options Purchased.............................. 10,401,142 -- 10,401,142 --
-------------- -------------- -------------- --------------
Total.............................................. $ 302,276,887 $ 2,597,068 $ 299,679,819 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (1,109,068) $ -- $ (1,109,068) $ --
Put Options Written................................ (5,189,300) -- (5,189,300) --
-------------- -------------- -------------- --------------
Total.............................................. $ (6,298,368) $ -- $ (6,298,368) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 71
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - OCTOBER (DOCT)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 0.9%
1,658,921 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 1,658,921
(Cost $1,658,921) --------------
TOTAL INVESTMENTS -- 0.9%...................................................................... 1,658,921
(Cost $1,658,921) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 101.2%
CALL OPTIONS PURCHASED -- 98.7%
4,898 SPDR(R) S&P 500(R) ETF Trust....................... $ 194,088,148 $ 3.73 10/20/23 190,216,434
(Cost $182,234,058) --------------
PUT OPTIONS PURCHASED -- 2.5%
4,898 SPDR(R) S&P 500(R) ETF Trust....................... 194,088,148 355.58 10/20/23 4,863,984
(Cost $12,386,099) --------------
TOTAL PURCHASED OPTIONS........................................................................ 195,080,418
(Cost $194,620,157) --------------
WRITTEN OPTIONS -- (2.0)%
CALL OPTIONS WRITTEN -- (1.6)%
(4,898) SPDR(R) S&P 500(R) ETF Trust....................... (194,088,148) 446.15 10/20/23 (3,060,830)
(Premiums received $6,839,044) --------------
PUT OPTIONS WRITTEN -- (0.4)%
(4,898) SPDR(R) S&P 500(R) ETF Trust....................... (194,088,148) 262.00 10/20/23 (859,354)
(Premiums received $2,896,897) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (3,920,184)
(Premiums received $9,735,941) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (123,002)
--------------
NET ASSETS -- 100.0%........................................................................... $ 192,696,153
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 0.9%
Purchased Options 101.2
Written Options (2.0)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 72 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - OCTOBER (DOCT)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 1,658,921 $ 1,658,921 $ -- $ --
Call Options Purchased............................. 190,216,434 -- 190,216,434 --
Put Options Purchased.............................. 4,863,984 -- 4,863,984 --
-------------- -------------- -------------- --------------
Total.............................................. $ 196,739,339 $ 1,658,921 $ 195,080,418 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (3,060,830) $ -- $ (3,060,830) $ --
Put Options Written................................ (859,354) -- (859,354) --
-------------- -------------- -------------- --------------
Total.............................................. $ (3,920,184) $ -- $ (3,920,184) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 73
FT CBOE VEST U.S. EQUITY BUFFER ETF - NOVEMBER (FNOV)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 1.0%
3,871,221 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 3,871,221
(Cost $3,871,221) --------------
TOTAL INVESTMENTS -- 1.0%...................................................................... 3,871,221
(Cost $3,871,221) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 102.1%
CALL OPTIONS PURCHASED -- 96.8%
9,736 SPDR(R) S&P 500(R) ETF Trust....................... $ 385,798,736 $ 3.96 11/17/23 377,923,232
(Cost $374,325,786) --------------
PUT OPTIONS PURCHASED -- 5.3%
9,736 SPDR(R) S&P 500(R) ETF Trust....................... 385,798,736 396.03 11/17/23 20,558,864
(Cost $30,293,341) --------------
TOTAL PURCHASED OPTIONS........................................................................ 398,482,096
(Cost $404,619,127) --------------
WRITTEN OPTIONS -- (3.0)%
CALL OPTIONS WRITTEN -- (0.3)%
(9,736) SPDR(R) S&P 500(R) ETF Trust....................... (385,798,736) 490.17 11/17/23 (1,069,829)
(Premiums received $5,317,502) --------------
PUT OPTIONS WRITTEN -- (2.7)%
(9,736) SPDR(R) S&P 500(R) ETF Trust....................... (385,798,736) 356.43 11/17/23 (10,708,378)
(Premiums received $17,341,677) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (11,778,207)
(Premiums received $22,659,179) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (246,945)
--------------
NET ASSETS -- 100.0%........................................................................... $ 390,328,165
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 1.0%
Purchased Options 102.1
Written Options (3.0)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 74 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY BUFFER ETF - NOVEMBER (FNOV)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 3,871,221 $ 3,871,221 $ -- $ --
Call Options Purchased............................. 377,923,232 -- 377,923,232 --
Put Options Purchased.............................. 20,558,864 -- 20,558,864 --
-------------- -------------- -------------- --------------
Total.............................................. $ 402,353,317 $ 3,871,221 $ 398,482,096 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (1,069,829) $ -- $ (1,069,829) $ --
Put Options Written................................ (10,708,378) -- (10,708,378) --
-------------- -------------- -------------- --------------
Total.............................................. $ (11,778,207) $ -- $ (11,778,207) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 75
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - NOVEMBER (DNOV)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 1.0%
2,884,566 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 2,884,566
(Cost $2,884,566) --------------
TOTAL INVESTMENTS -- 1.0%...................................................................... 2,884,566
(Cost $2,884,566) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 100.7%
CALL OPTIONS PURCHASED -- 96.9%
7,450 SPDR(R) S&P 500(R) ETF Trust....................... $ 295,213,700 $ 3.95 11/17/23 289,194,524
(Cost $286,092,823) --------------
PUT OPTIONS PURCHASED -- 3.8%
7,450 SPDR(R) S&P 500(R) ETF Trust....................... 295,213,700 376.23 11/17/23 11,464,103
(Cost $18,783,714) --------------
TOTAL PURCHASED OPTIONS........................................................................ 300,658,627
(Cost $304,876,537) --------------
WRITTEN OPTIONS -- (1.6)%
CALL OPTIONS WRITTEN -- (0.9)%
(7,450) SPDR(R) S&P 500(R) ETF Trust....................... (295,213,700) 464.11 11/17/23 (2,737,379)
(Premiums received $8,442,979) --------------
PUT OPTIONS WRITTEN -- (0.7)%
(7,450) SPDR(R) S&P 500(R) ETF Trust....................... (295,213,700) 277.22 11/17/23 (2,003,755)
(Premiums received $4,063,889) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (4,741,134)
(Premiums received $12,506,868) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (187,968)
--------------
NET ASSETS -- 100.0%........................................................................... $ 298,614,091
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 1.0%
Purchased Options 100.7
Written Options (1.6)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 76 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - NOVEMBER (DNOV)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 2,884,566 $ 2,884,566 $ -- $ --
Call Options Purchased............................. 289,194,524 -- 289,194,524 --
Put Options Purchased.............................. 11,464,103 -- 11,464,103 --
-------------- -------------- -------------- --------------
Total.............................................. $ 303,543,193 $ 2,884,566 $ 300,658,627 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (2,737,379) $ -- $ (2,737,379) $ --
Put Options Written................................ (2,003,755) -- (2,003,755) --
-------------- -------------- -------------- --------------
Total.............................................. $ (4,741,134) $ -- $ (4,741,134) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 77
FT CBOE VEST U.S. EQUITY BUFFER ETF - DECEMBER (FDEC)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 1.0%
2,381,555 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 2,381,555
(Cost $2,381,555) --------------
TOTAL INVESTMENTS -- 1.0%...................................................................... 2,381,555
(Cost $2,381,555) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 102.4%
CALL OPTIONS PURCHASED -- 97.7%
5,880 SPDR(R) S&P 500(R) ETF Trust....................... $ 233,000,880 $ 3.83 12/15/23 227,231,326
(Cost $223,395,806) --------------
PUT OPTIONS PURCHASED -- 4.7%
5,880 SPDR(R) S&P 500(R) ETF Trust....................... 233,000,880 383.27 12/15/23 10,900,046
(Cost $13,244,376) --------------
TOTAL PURCHASED OPTIONS........................................................................ 238,131,372
(Cost $236,640,182) --------------
WRITTEN OPTIONS -- (3.3)%
CALL OPTIONS WRITTEN -- (0.8)%
(5,880) SPDR(R) S&P 500(R) ETF Trust....................... (233,000,880) 471.81 12/15/23 (1,831,661)
(Premiums received $4,993,619) --------------
PUT OPTIONS WRITTEN -- (2.5)%
(5,880) SPDR(R) S&P 500(R) ETF Trust....................... (233,000,880) 344.94 12/15/23 (5,898,676)
(Premiums received $6,214,418) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (7,730,337)
(Premiums received $11,208,037) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (144,016)
--------------
NET ASSETS -- 100.0%........................................................................... $ 232,638,574
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 1.0%
Purchased Options 102.4
Written Options (3.3)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 78 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY BUFFER ETF - DECEMBER (FDEC)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 2,381,555 $ 2,381,555 $ -- $ --
Call Options Purchased............................. 227,231,326 -- 227,231,326 --
Put Options Purchased.............................. 10,900,046 -- 10,900,046 --
-------------- -------------- -------------- --------------
Total.............................................. $ 240,512,927 $ 2,381,555 $ 238,131,372 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (1,831,661) $ -- $ (1,831,661) $ --
Put Options Written................................ (5,898,676) -- (5,898,676) --
-------------- -------------- -------------- --------------
Total.............................................. $ (7,730,337) $ -- $ (7,730,337) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 79
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - DECEMBER (DDEC)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
-------------- ----------------------------------------------------------------------------------------------- --------------
MONEY MARKET FUNDS -- 1.0%
3,225,277 Dreyfus Government Cash Management Fund, Institutional Shares - 4.47% (a)...................... $ 3,225,277
(Cost $3,225,277) --------------
TOTAL INVESTMENTS -- 1.0%...................................................................... 3,225,277
(Cost $3,225,277) --------------
NUMBER OF NOTIONAL EXERCISE EXPIRATION
CONTRACTS DESCRIPTION AMOUNT PRICE DATE VALUE
-------------- --------------------------------------------------- ------------- ----------- ----------- --------------
PURCHASED OPTIONS -- 101.9%
CALL OPTIONS PURCHASED -- 98.4%
8,200 SPDR(R) S&P 500(R) ETF Trust....................... $ 324,933,200 $ 3.82 12/15/23 316,895,083
(Cost $310,993,253) --------------
PUT OPTIONS PURCHASED -- 3.5%
8,200 SPDR(R) S&P 500(R) ETF Trust....................... 324,933,200 364.11 12/15/23 11,271,417
(Cost $16,635,153) --------------
TOTAL PURCHASED OPTIONS........................................................................ 328,166,500
(Cost $327,628,406) --------------
WRITTEN OPTIONS -- (2.8)%
CALL OPTIONS WRITTEN -- (2.1)%
(8,200) SPDR(R) S&P 500(R) ETF Trust....................... (324,933,200) 447.20 12/15/23 (6,888,393)
(Premiums received $8,574,989) --------------
PUT OPTIONS WRITTEN -- (0.7)%
(8,200) SPDR(R) S&P 500(R) ETF Trust....................... (324,933,200) 268.29 12/15/23 (2,264,381)
(Premiums received $6,448,276) --------------
TOTAL WRITTEN OPTIONS.......................................................................... (9,152,774)
(Premiums received $15,023,265) --------------
NET OTHER ASSETS AND LIABILITIES -- (0.1)%..................................................... (202,389)
--------------
NET ASSETS -- 100.0%........................................................................... $ 322,036,614
==============
(a) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Money Market Funds 1.0%
Purchased Options 101.9
Written Options (2.8)
Net Other Assets and Liabilities (0.1)
-------
Total 100.0%
=======
Page 80 See Notes to Financial Statements
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - DECEMBER (DDEC)
PORTFOLIO OF INVESTMENTS (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Money Market Funds................................. $ 3,225,277 $ 3,225,277 $ -- $ --
Call Options Purchased............................. 316,895,083 -- 316,895,083 --
Put Options Purchased.............................. 11,271,417 -- 11,271,417 --
-------------- -------------- -------------- --------------
Total.............................................. $ 331,391,777 $ 3,225,277 $ 328,166,500 $ --
============== ============== ============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Call Options Written............................... $ (6,888,393) $ -- $ (6,888,393) $ --
Put Options Written................................ (2,264,381) -- (2,264,381) --
-------------- -------------- -------------- --------------
Total.............................................. $ (9,152,774) $ -- $ (9,152,774) $ --
============== ============== ============== ==============
See Notes to Financial Statements Page 81
FT CBOE VEST BUFFERED ALLOCATION DEFENSIVE ETF (BUFT)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
----------- ------------------------------------------- -------------
EXCHANGE-TRADED FUNDS -- 99.8%
CAPITAL MARKETS (a) -- 99.8%
818,574 FT Cboe Vest U.S. Equity Deep
Buffer ETF - January (b) $ 24,950,135
704,350 FT Cboe Vest U.S. Equity Deep
Buffer ETF - February (b) 23,159,028
915,301 FT Cboe Vest U.S. Equity Deep
Buffer ETF - April (b) 27,060,142
678,694 FT Cboe Vest U.S. Equity Deep
Buffer ETF - June (b) 22,555,173
779,262 FT Cboe Vest U.S. Equity Deep
Buffer ETF - December (b) 24,453,242
-------------
TOTAL EXCHANGE-TRADED FUNDS
-- 99.8% 122,177,720
(Cost $120,867,312) -------------
MONEY MARKET FUNDS -- 0.2%
246,829 Morgan Stanley Institutional Liquidity
Funds - Treasury Portfolio -
Institutional Class -
4.41% (c) 246,829
(Cost $246,829) -------------
TOTAL INVESTMENTS -- 100.0% 122,424,549
(Cost $121,114,141)
NET OTHER ASSETS AND
LIABILITIES -- (0.0)% (19,743)
-------------
NET ASSETS -- 100.0% $ 122,404,806
=============
(a) Represents investments in affiliated funds.
(b) Non-income producing security.
(c) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Exchange-Traded Funds 99.8%
Money Market Funds 0.2
Net Other Assets and Liabilities (0.0) (1)
-------
Total 100.0%
=======
(1) Amount is less than 0.1%.
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Exchange-Traded Funds*............................. $ 122,177,720 $ 122,177,720 $ -- $ --
Money Market Funds................................. 246,829 246,829 -- --
-------------- -------------- -------------- --------------
Total Investments.................................. $ 122,424,549 $ 122,424,549 $ -- $ --
============== ============== ============== ==============
* See Portfolio of Investments for industry breakout.
Page 82 See Notes to Financial Statements
FT CBOE VEST BUFFERED ALLOCATION GROWTH ETF (BUFG)
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2023 (UNAUDITED)
SHARES DESCRIPTION VALUE
----------- ------------------------------------------- -------------
EXCHANGE-TRADED FUNDS -- 99.9%
CAPITAL MARKETS (a) -- 99.9%
867,302 FT Cboe Vest U.S. Equity Buffer
ETF - February (b) $ 31,620,964
979,980 FT Cboe Vest U.S. Equity Buffer
ETF - March (b) 31,965,772
835,558 FT Cboe Vest U.S. Equity Buffer
ETF - August (b) 29,799,257
771,404 FT Cboe Vest U.S. Equity Buffer
ETF - September (b) 26,567,462
840,977 FT Cboe Vest U.S. Equity Buffer
ETF - November (b) 30,729,299
-------------
TOTAL EXCHANGE-TRADED FUNDS
-- 99.9% 150,682,754
(Cost $148,742,810) -------------
MONEY MARKET FUNDS -- 0.1%
230,456 Morgan Stanley Institutional Liquidity
Funds - Treasury Portfolio -
Institutional Class -
4.41% (c) 230,456
(Cost $230,456) -------------
TOTAL INVESTMENTS -- 100.0% 150,913,210
(Cost $148,973,266)
NET OTHER ASSETS AND
LIABILITIES -- (0.0)% (23,727)
-------------
NET ASSETS -- 100.0% $ 150,889,483
=============
(a) Represents investments in affiliated funds.
(b) Non-income producing security.
(c) Rate shown reflects yield as of February 28, 2023.
---------------------------------------------------------
% OF
FUND ALLOCATION NET ASSETS
---------------------------------------------------------
Exchange-Traded Funds 99.9%
Money Market Funds 0.1
Net Other Assets and Liabilities (0.0) (1)
-------
Total 100.0%
=======
(1) Amount is less than 0.1%.
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of February 28,
2023 is as follows (see Note 2A - Portfolio Valuation in the Notes to Financial
Statements):
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
2/28/2023 PRICES INPUTS INPUTS
-------------- -------------- -------------- --------------
Exchange-Traded Funds*............................. $ 150,682,754 $ 150,682,754 $ -- $ --
Money Market Funds................................. 230,456 230,456 -- --
-------------- -------------- -------------- --------------
Total Investments.................................. $ 150,913,210 $ 150,913,210 $ -- $ --
============== ============== ============== ==============
* See Portfolio of Investments for industry breakout.
See Notes to Financial Statements Page 83
FIRST TRUST EXCHANGE-TRADED FUND VIII
STATEMENTS OF ASSETS AND LIABILITIES
FEBRUARY 28, 2023 (UNAUDITED)
FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF -
JANUARY JANUARY FEBRUARY FEBRUARY
(FJAN) (DJAN) (FFEB) (DFEB)
---------------- ----------------- ----------------- -----------------
ASSETS:
Investments, at value - Unaffiliated............ $ 2,762,413 $ 2,234,509 $ 3,756,769 $ 2,969,148
Investments, at value - Affiliated.............. -- -- -- --
---------------- ----------------- ----------------- -----------------
Total investments, at value.................. 2,762,413 2,234,509 3,756,769 2,969,148
Options contracts purchased, at value........... 256,304,856 208,073,155 332,600,040 262,942,760
Cash............................................ 1,085 1,290 150 7,125
Receivables:
Capital shares sold.......................... 1,700,099 -- 2,728,672 3,289,560
Dividends.................................... 10,463 7,193 5,711 13,976
Investment securities sold................... -- -- 130,092 85,968
---------------- ----------------- ----------------- -----------------
Total Assets................................. 260,778,916 210,316,147 339,221,434 269,308,537
---------------- ----------------- ----------------- -----------------
LIABILITIES:
Options contracts written, at value............. 10,693,822 6,055,075 15,156,864 6,780,001
Due to custodian................................ -- -- -- --
Payables:
Capital shares purchased..................... 1,700,098 -- -- --
Investment advisory fees..................... 170,563 126,103 174,214 166,667
Investment securities purchased.............. -- -- 2,858,849 3,342,533
---------------- ----------------- ----------------- -----------------
Total Liabilities............................ 12,564,483 6,181,178 18,189,927 10,289,201
---------------- ----------------- ----------------- -----------------
NET ASSETS...................................... $ 248,214,433 $ 204,134,969 $ 321,031,507 $ 259,019,336
================ ================= ================= =================
NET ASSETS CONSIST OF:
Paid-in capital................................. $ 268,364,606 $ 216,582,696 $ 362,300,249 $ 305,379,425
Par value....................................... 73,000 67,000 88,250 78,750
Accumulated distributable earnings (loss)....... (20,223,173) (12,514,727) (41,356,992) (46,438,839)
---------------- ----------------- ----------------- -----------------
NET ASSETS...................................... $ 248,214,433 $ 204,134,969 $ 321,031,507 $ 259,019,336
================ ================= ================= =================
NET ASSET VALUE, per share...................... $ 34.00 $ 30.47 $ 36.38 $ 32.89
================ ================= ================= =================
Number of shares outstanding (unlimited number
of shares authorized, par value
$0.01 per share)............................. 7,300,002 6,700,002 8,825,002 7,875,002
================ ================= ================= =================
Investments, at cost - Unaffiliated............. $ 2,762,413 $ 2,234,509 $ 3,756,769 $ 2,969,148
================ ================= ================= =================
Investments, at cost - Affiliated............... $ -- $ -- $ -- $ --
================ ================= ================= =================
Total Investments, at cost...................... $ 2,762,413 $ 2,234,509 $ 3,756,769 $ 2,969,148
================ ================= ================= =================
Premiums paid on options contracts purchased.... $ 258,718,539 $ 209,775,541 $ 338,370,054 $ 268,148,642
================ ================= ================= =================
Premiums received on options contracts written.. $ 12,583,945 $ 7,504,355 $ 16,052,460 $ 8,710,425
================ ================= ================= =================
Page 84 See Notes to Financial Statements
FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF -
MARCH MARCH APRIL APRIL MAY MAY
(FMAR) (DMAR) (FAPR) (DAPR) (FMAY) (DMAY)
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
$ 900,167 $ 962,410 $ 1,295,021 $ 1,628,884 $ 1,758,108 $ 753,026
-- -- -- -- -- --
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
900,167 962,410 1,295,021 1,628,884 1,758,108 753,026
207,869,589 217,606,337 252,321,031 316,984,991 326,016,949 144,302,822
-- 1,720 -- 125 1,414 759
-- -- -- -- -- --
3,350 3,861 4,770 5,526 6,684 2,780
-- -- -- -- -- --
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
208,773,106 218,574,328 253,620,822 318,619,526 327,783,155 145,059,387
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
4,660,772 26,555 5,723,061 226,169 2,222,896 340,077
1,024 -- 158 -- -- --
-- -- -- -- -- --
131,099 167,956 162,503 203,317 237,339 98,573
-- -- -- -- -- --
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
4,792,895 194,511 5,885,722 429,486 2,460,235 438,650
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
$ 203,980,211 $ 218,379,817 $ 247,735,100 $ 318,190,040 $ 325,322,920 $ 144,620,737
================= ================= ================= ================= ================= =================
$ 210,932,710 $ 233,149,010 $ 270,441,657 $ 331,854,717 $ 345,992,801 $ 155,594,360
62,750 72,250 82,000 107,750 90,500 45,500
(7,015,249) (14,841,443) (22,788,557) (13,772,427) (20,760,381) (11,019,123)
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
$ 203,980,211 $ 218,379,817 $ 247,735,100 $ 318,190,040 $ 325,322,920 $ 144,620,737
================= ================= ================= ================= ================= =================
$ 32.51 30.23 $ 30.21 $ 29.53 $ 35.95 $ 31.78
================= ================= ================= ================= ================= =================
6,275,002 7,225,002 8,200,002 10,775,002 9,050,002 4,550,002
================= ================= ================= ================= ================= =================
$ 900,167 $ 962,410 $ 1,295,021 $ 1,628,884 $ 1,758,108 $ 753,026
================= ================= ================= ================= ================= =================
$ -- $ -- $ -- $ -- $ -- $ --
================= ================= ================= ================= ================= =================
$ 900,167 $ 962,410 $ 1,295,021 $ 1,628,884 $ 1,758,108 $ 753,026
================= ================= ================= ================= ================= =================
$ 222,826,390 $ 240,658,490 $ 270,190,391 $ 338,022,758 $ 344,680,148 $ 154,125,534
================= ================= ================= ================= ================= =================
$ 13,804,857 $ 2,391,845 $ 16,450,992 $ 9,699,422 $ 20,243,234 $ 5,871,003
================= ================= ================= ================= ================= =================
See Notes to Financial Statements Page 85
FIRST TRUST EXCHANGE-TRADED FUND VIII
STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF -
JUNE JUNE JULY JULY
(FJUN) (DJUN) (FJUL) (DJUL)
---------------- ----------------- ----------------- -----------------
ASSETS:
Investments, at value - Unaffiliated............ $ 1,613,960 $ 920,765 $ 1,511,759 $ 938,217
Investments, at value - Affiliated.............. -- -- -- --
---------------- ----------------- ----------------- -----------------
Total investments, at value.................. 1,613,960 920,765 1,511,759 938,217
Options contracts purchased, at value........... 280,379,999 165,819,196 224,979,327 147,916,735
Cash............................................ 891 1,324 358 104
Receivables:
Capital shares sold.......................... -- -- -- --
Dividends.................................... 6,806 3,183 5,290 3,340
Investment securities sold................... -- -- -- --
---------------- ----------------- ----------------- -----------------
Total Assets................................. 282,001,656 166,744,468 226,496,734 148,858,396
---------------- ----------------- ----------------- -----------------
LIABILITIES:
Options contracts written, at value............. 2,405,407 2,274,185 3,031,934 1,241,666
Due to custodian................................ -- -- -- --
Payables:
Capital shares purchased..................... -- -- -- --
Investment advisory fees..................... 188,065 109,170 147,968 98,054
Investment securities purchased.............. -- -- -- --
---------------- ----------------- ----------------- -----------------
Total Liabilities............................ 2,593,472 2,383,355 3,179,902 1,339,720
---------------- ----------------- ----------------- -----------------
NET ASSETS...................................... $ 279,408,184 $ 164,361,113 $ 223,316,832 $ 147,518,676
================ ================= ================= =================
NET ASSETS CONSIST OF:
Paid-in capital................................. $ 287,056,457 $ 171,619,020 $ 232,520,247 $ 152,440,590
Par value....................................... 75,250 49,500 63,250 46,750
Accumulated distributable earnings (loss)....... (7,723,523) (7,307,407) (9,266,665) (4,968,664)
---------------- ----------------- ----------------- -----------------
NET ASSETS...................................... $ 279,408,184 $ 164,361,113 $ 223,316,832 $ 147,518,676
================ ================= ================= =================
NET ASSET VALUE, per share...................... $ 37.13 $ 33.20 $ 35.31 $ 31.55
================ ================= ================= =================
Number of shares outstanding (unlimited number
of shares authorized, par value
$0.01 per share)............................. 7,525,002 4,950,002 6,325,002 4,675,002
================ ================= ================= =================
Investments, at cost - Unaffiliated............. $ 1,613,960 $ 920,765 $ 1,511,759 $ 938,217
================ ================= ================= =================
Investments, at cost - Affiliated............... $ -- $ -- $ -- $ --
================ ================= ================= =================
Total Investments, at cost...................... $ 1,613,960 $ 920,765 $ 1,511,759 $ 938,217
================ ================= ================= =================
Premiums paid on options contracts purchased.... $ 280,261,547 $ 165,068,111 $ 230,731,899 $ 153,350,586
================ ================= ================= =================
Premiums received on options contracts written.. $ 17,700,131 $ 8,520,533 $ 14,650,924 $ 7,103,653
================ ================= ================= =================
Page 86 See Notes to Financial Statements
FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF -
AUGUST AUGUST SEPTEMBER SEPTEMBER OCTOBER OCTOBER
(FAUG) (DAUG) (FSEP) (DSEP) (FOCT) (DOCT)
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
$ 2,696,928 $ 3,424,031 $ 2,491,513 $ 1,598,981 $ 2,597,068 $ 1,658,921
-- -- -- -- -- --
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
2,696,928 3,424,031 2,491,513 1,598,981 2,597,068 1,658,921
339,938,296 447,164,032 305,593,987 201,296,519 299,679,819 195,080,418
4,584 -- 1,417 4,204 -- 260
-- -- -- -- -- --
9,003 10,980 8,960 27,011 9,518 6,141
-- -- -- -- -- --
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
342,648,811 450,599,043 308,095,877 202,926,715 302,286,405 196,745,740
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
10,227,411 2,358,271 6,186,920 2,517,093 6,298,368 3,920,184
-- 196 -- -- 525 --
-- -- -- -- -- --
213,738 276,478 200,977 149,732 197,826 129,403
-- -- -- -- -- --
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
10,441,149 2,634,945 6,387,897 2,666,825 6,496,719 4,049,587
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
$ 332,207,662 $ 447,964,098 $ 301,707,980 $ 200,259,890 $ 295,789,686 $ 192,696,153
================= ================= ================= ================= ================= =================
$ 380,231,121 $ 476,482,277 $ 297,462,745 $ 193,793,448 $ 300,278,888 $ 194,280,271
93,250 142,250 87,750 64,000 86,750 60,000
(48,116,709) (28,660,429) 4,157,485 6,402,442 (4,575,952) (1,644,118)
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
$ 332,207,662 $ 447,964,098 $ 301,707,980 $ 200,259,890 $ 295,789,686 $ 192,696,153
================= ================= ================= ================= ================= =================
$ 35.63 $ 31.49 $ 34.38 $ 31.29 $ 34.10 $ 32.12
================= ================= ================= ================= ================= =================
9,325,002 14,225,002 8,775,002 6,400,002 8,675,002 6,000,002
================= ================= ================= ================= ================= =================
$ 2,696,928 $ 3,424,031 $ 2,491,513 $ 1,598,981 $ 2,597,068 $ 1,658,921
================= ================= ================= ================= ================= =================
$ -- $ -- $ -- $ -- $ -- $ --
================= ================= ================= ================= ================= =================
$ 2,696,928 $ 3,424,031 $ 2,491,513 $ 1,598,981 $ 2,597,068 $ 1,658,921
================= ================= ================= ================= ================= =================
$ 362,695,490 $ 461,788,114 $ 304,784,378 $ 201,660,665 $ 296,618,535 $ 194,620,157
================= ================= ================= ================= ================= =================
$ 24,316,189 $ 14,525,488 $ 15,887,237 $ 8,303,479 $ 19,298,673 $ 9,735,941
================= ================= ================= ================= ================= =================
See Notes to Financial Statements Page 87
FIRST TRUST EXCHANGE-TRADED FUND VIII
STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)
FEBRUARY 28, 2023 (UNAUDITED)
FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF -
NOVEMBER NOVEMBER DECEMBER DECEMBER
(FNOV) (DNOV) (FDEC) (DDEC)
---------------- ----------------- ----------------- -----------------
ASSETS:
Investments, at value - Unaffiliated............ $ 3,871,221 $ 2,884,566 $ 2,381,555 $ 3,225,277
Investments, at value - Affiliated.............. -- -- -- --
---------------- ----------------- ----------------- -----------------
Total investments, at value.................. 3,871,221 2,884,566 2,381,555 3,225,277
Options contracts purchased, at value........... 398,482,096 300,658,627 238,131,372 328,166,500
Cash............................................ 197 2,958 1,540 14
Receivables:
Capital shares sold.......................... -- -- -- --
Dividends.................................... 13,832 11,152 8,075 11,743
Investment securities sold................... -- -- -- --
---------------- ----------------- ----------------- -----------------
Total Assets................................. 402,367,346 303,557,303 240,522,542 331,403,534
---------------- ----------------- ----------------- -----------------
LIABILITIES:
Options contracts written, at value............. 11,778,207 4,741,134 7,730,337 9,152,774
Due to custodian................................ -- -- -- --
Payables:
Capital shares purchased..................... -- -- -- --
Investment advisory fees..................... 260,974 202,078 153,631 214,146
Investment securities purchased.............. -- -- -- --
---------------- ----------------- ----------------- -----------------
Total Liabilities............................ 12,039,181 4,943,212 7,883,968 9,366,920
---------------- ----------------- ----------------- -----------------
NET ASSETS...................................... $ 390,328,165 $ 298,614,091 $ 232,638,574 $ 322,036,614
================ ================= ================= =================
NET ASSETS CONSIST OF:
Paid-in capital................................. $ 427,086,370 $ 317,578,142 $ 244,880,429 $ 328,773,154
Par value....................................... 106,750 89,250 71,000 102,750
Accumulated distributable earnings (loss)....... (36,864,955) (19,053,301) (12,312,855) (6,839,290)
---------------- ----------------- ----------------- -----------------
NET ASSETS...................................... $ 390,328,165 $ 298,614,091 $ 232,638,574 $ 322,036,614
================ ================= ================= =================
NET ASSET VALUE, per share...................... $ 36.56 $ 33.46 $ 32.77 $ 31.34
================ ================= ================= =================
Number of shares outstanding (unlimited number
of shares authorized, par value
$0.01 per share)............................. 10,675,002 8,925,002 7,100,002 10,275,002
================ ================= ================= =================
Investments, at cost - Unaffiliated............. $ 3,871,221 $ 2,884,566 $ 2,381,555 $ 3,225,277
================ ================= ================= =================
Investments, at cost - Affiliated............... $ -- $ -- $ -- $ --
================ ================= ================= =================
Total Investments, at cost...................... $ 3,871,221 $ 2,884,566 $ 2,381,555 $ 3,225,277
================ ================= ================= =================
Premiums paid on options contracts purchased.... $ 404,619,127 $ 304,876,537 $ 236,640,182 $ 327,628,406
================ ================= ================= =================
Premiums received on options contracts written.. $ 22,659,179 $ 12,506,868 $ 11,208,037 $ 15,023,265
================ ================= ================= =================
Page 88 See Notes to Financial Statements
FT CBOE VEST FT CBOE VEST
BUFFERED BUFFERED
ALLOCATION ALLOCATION
DEFENSIVE ETF GROWTH ETF
(BUFT) (BUFG)
----------------- -----------------
$ 246,829 $ 230,456
122,177,720 150,682,754
----------------- -----------------
122,424,549 150,913,210
-- --
-- --
-- --
91 184
-- --
----------------- -----------------
122,424,640 150,913,394
----------------- -----------------
-- --
-- --
-- --
19,834 23,911
-- --
----------------- -----------------
19,834 23,911
----------------- -----------------
$ 122,404,806 $ 150,889,483
================= =================
$ 129,898,597 $ 161,308,110
65,500 81,500
(7,559,291) (10,500,127)
----------------- -----------------
$ 122,404,806 $ 150,889,483
================= =================
$ 18.69 $ 18.51
================= =================
6,550,002 8,150,002
================= =================
$ 246,829 $ 230,456
================= =================
$ 120,867,312 $ 148,742,810
================= =================
$ 121,114,141 $ 148,973,266
================= =================
$ -- $ --
================= =================
$ -- $ --
================= =================
See Notes to Financial Statements Page 89
FIRST TRUST EXCHANGE-TRADED FUND VIII
STATEMENTS OF OPERATIONS
FOR THE SIX MONTHS ENDED FEBRUARY 28, 2023 (UNAUDITED)
FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF -
JANUARY JANUARY FEBRUARY FEBRUARY
(FJAN) (DJAN) (FFEB) (DFEB)
---------------- ----------------- ----------------- -----------------
INVESTMENT INCOME:
Dividends....................................... $ 26,595 $ 24,852 $ 29,759 $ 38,754
---------------- ----------------- ----------------- -----------------
Total investment income...................... 26,595 24,852 29,759 38,754
---------------- ----------------- ----------------- -----------------
EXPENSES:
Investment advisory fees........................ 772,471 703,945 1,113,333 1,268,560
---------------- ----------------- ----------------- -----------------
Total expenses............................... 772,471 703,945 1,113,333 1,268,560
---------------- ----------------- ----------------- -----------------
NET INVESTMENT INCOME (LOSS).................... (745,876) (679,093) (1,083,574) (1,229,806)
---------------- ----------------- ----------------- -----------------
NET REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments - Affiliated..................... -- -- -- --
In-kind redemptions - Affiliated............. -- -- -- --
Purchased options contracts.................. (15,932,477) (15,369,524) (23,781,028) (33,589,341)
Written options contracts.................... 1,781,404 987,215 16,691,740 13,767,335
In-kind redemptions - Purchased options
contracts................................. 1,722,118 1,784,848 105,290 777,436
In-kind redemptions - Written options
contracts................................. 9,389,308 5,665,432 2,795,124 3,007,287
---------------- ----------------- ----------------- -----------------
Net realized gain (loss)........................ (3,039,647) (6,932,029) (4,188,874) (16,037,283)
---------------- ----------------- ----------------- -----------------
Net change in unrealized appreciation
(depreciation) on:
Investments - Affiliated..................... -- -- -- --
Purchased options contracts.................. 11,582,889 9,595,331 15,698,158 19,414,534
Written options contracts.................... (1,099,344) (3,439,794) (5,335,916) (10,404,959)
---------------- ----------------- ----------------- -----------------
Net change in unrealized appreciation
(depreciation)............................... 10,483,545 6,155,537 10,362,242 9,009,575
---------------- ----------------- ----------------- -----------------
NET REALIZED AND UNREALIZED
GAIN (LOSS).................................. 7,443,898 (776,492) 6,173,368 (7,027,708)
---------------- ----------------- ----------------- -----------------
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS.................... $ 6,698,022 $ (1,455,585) $ 5,089,794 $ (8,257,514)
================ ================= ================= =================
Page 90 See Notes to Financial Statements
FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF -
MARCH MARCH APRIL APRIL MAY MAY
(FMAR) (DMAR) (FAPR) (DAPR) (FMAY) (DMAY)
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
$ 22,691 $ 25,773 $ 34,461 $ 37,574 $ 46,033 $ 25,195
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
22,691 25,773 34,461 37,574 46,033 25,195
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
777,214 1,046,716 1,094,035 1,195,923 1,522,142 777,799
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
777,214 1,046,716 1,094,035 1,195,923 1,522,142 777,799
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
(754,523) (1,020,943) (1,059,574) (1,158,349) (1,476,109) (752,604)
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
-- -- -- -- -- --
-- -- -- -- -- --
(1,100,699) (35,680) (209,503) (233,885) (876,816) (1,768,902)
(459,609) 51,644 83,667 211,394 741,444 1,502,437
2,207,619 4,139,459 861,825 1,030,784 1,098,346 1,660,429
1,914,102 6,986,861 1,474,892 1,417,091 5,454,422 3,898,609
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
2,561,413 11,142,284 2,210,881 2,425,384 6,417,396 5,292,573
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
-- -- -- -- -- --
(1,441,088) (7,307,994) (4,386,643) (8,791,095) (12,866,898) (5,228,166)
7,016,511 (2,875,189) 9,406,256 4,338,985 9,981,645 2,038,172
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
5,575,423 (10,183,183) 5,019,613 (4,452,110) (2,885,253) (3,189,994)
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
8,136,836 959,101 7,230,494 (2,026,726) 3,532,143 2,102,579
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
$ 7,382,313 $ (61,842) $ 6,170,920 $ (3,185,075) $ 2,056,034 $ 1,349,975
================= ================= ================= ================= ================= =================
See Notes to Financial Statements Page 91
FIRST TRUST EXCHANGE-TRADED FUND VIII
STATEMENTS OF OPERATIONS (CONTINUED)
FOR THE SIX MONTHS ENDED FEBRUARY 28, 2023 (UNAUDITED)
FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF -
JUNE JUNE JULY JULY
(FJUN) (DJUN) (FJUL) (DJUL)
---------------- ----------------- ----------------- -----------------
INVESTMENT INCOME:
Dividends....................................... $ 43,741 $ 22,583 $ 34,740 $ 24,374
---------------- ----------------- ----------------- -----------------
Total investment income...................... 43,741 22,583 34,740 24,374
---------------- ----------------- ----------------- -----------------
EXPENSES:
Investment advisory fees........................ 1,263,987 741,267 924,267 675,165
---------------- ----------------- ----------------- -----------------
Total expenses............................... 1,263,987 741,267 924,267 675,165
---------------- ----------------- ----------------- -----------------
NET INVESTMENT INCOME (LOSS).................... (1,220,246) (718,684) (889,527) (650,791)
---------------- ----------------- ----------------- -----------------
NET REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments - Affiliated..................... -- -- -- --
In-kind redemptions - Affiliated............. -- -- -- --
Purchased options contracts.................. (166,660) (230,341) (414,732) (313,848)
Written options contracts.................... 545,441 290,281 135,733 299,631
In-kind redemptions - Purchased options
contracts................................. 1,886,040 1,669,163 247,103 755,968
In-kind redemptions - Written options
contracts................................. 2,308,098 1,164,950 494,128 2,167,637
---------------- ----------------- ----------------- -----------------
Net realized gain (loss)........................ 4,572,919 2,894,053 462,232 2,909,388
---------------- ----------------- ----------------- -----------------
Net change in unrealized appreciation
(depreciation) on:
Investments - Affiliated..................... -- -- -- --
Purchased options contracts.................. (10,822,244) (6,279,051) (7,085,398) (5,261,089)
Written options contracts.................... 13,409,590 8,028,260 10,297,853 5,202,627
---------------- ----------------- ----------------- -----------------
Net change in unrealized appreciation
(depreciation)............................... 2,587,346 1,749,209 3,212,455 (58,462)
---------------- ----------------- ----------------- -----------------
NET REALIZED AND UNREALIZED
GAIN (LOSS).................................. 7,160,265 4,643,262 3,674,687 2,850,926
---------------- ----------------- ----------------- -----------------
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS.................... $ 5,940,019 $ 3,924,578 $ 2,785,160 $ 2,200,135
================ ================= ================= =================
Page 92 See Notes to Financial Statements
FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF -
AUGUST AUGUST SEPTEMBER SEPTEMBER OCTOBER OCTOBER
(FAUG) (DAUG) (FSEP) (DSEP) (FOCT) (DOCT)
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
$ 51,647 $ 50,812 $ 43,281 $ 63,812 $ 52,028 $ 40,025
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
51,647 50,812 43,281 63,812 52,028 40,025
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
1,275,490 1,258,424 1,018,470 967,922 1,081,961 787,103
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
1,275,490 1,258,424 1,018,470 967,922 1,081,961 787,103
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
(1,223,843) (1,207,612) (975,189) (904,110) (1,029,933) (747,078)
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
-- -- -- -- -- --
-- -- -- -- -- --
(2,153,537) (1,974) (14,505,814) (8,384,340) (16,748,508) (16,280,400)
(682,187) 29,982 (1,306,133) 1,640,614 (842,062) 3,858,229
78,099 380,154 2,600,924 3,786,275 4,364,855 3,797,147
167,522 183,613 5,326,095 2,612,612 923,977 2,676,046
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
(2,590,103) 591,775 (7,884,928) (344,839) (12,301,738) (5,948,978)
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
-- -- -- -- -- --
(8,582,307) (7,842,674) 13,145,079 8,814,537 16,334,476 14,295,051
11,927,544 9,630,623 5,874,942 4,199,805 9,727,881 1,329,795
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
3,345,237 1,787,949 19,020,021 13,014,342 26,062,357 15,624,846
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
755,134 2,379,724 11,135,093 12,669,503 13,760,619 9,675,868
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
$ (468,709) $ 1,172,112 $ 10,159,904 $ 11,765,393 $ 12,730,686 $ 8,928,790
================= ================= ================= ================= ================= =================
See Notes to Financial Statements Page 93
FIRST TRUST EXCHANGE-TRADED FUND VIII
STATEMENTS OF OPERATIONS (CONTINUED)
FOR THE SIX MONTHS ENDED FEBRUARY 28, 2023 (UNAUDITED)
FT CBOE VEST FT CBOE VEST FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF -
NOVEMBER NOVEMBER DECEMBER DECEMBER
(FNOV) (DNOV) (FDEC) (DDEC)
---------------- ----------------- ----------------- -----------------
INVESTMENT INCOME:
Dividends....................................... $ 60,598 $ 63,700 $ 34,945 $ 44,300
---------------- ----------------- ----------------- -----------------
Total investment income...................... 60,598 63,700 34,945 44,300
---------------- ----------------- ----------------- -----------------
EXPENSES:
Investment advisory fees........................ 1,391,872 1,454,232 887,379 1,170,273
---------------- ----------------- ----------------- -----------------
Total expenses............................... 1,391,872 1,454,232 887,379 1,170,273
---------------- ----------------- ----------------- -----------------
NET INVESTMENT INCOME (LOSS).................... (1,331,274) (1,390,532) (852,434) (1,125,973)
---------------- ----------------- ----------------- -----------------
NET REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain (loss) on:
Investments - Affiliated..................... -- -- -- --
In-kind redemptions - Affiliated............. -- -- -- --
Purchased options contracts.................. (28,030,649) (34,977,963) (23,991,467) (21,164,673)
Written options contracts.................... 990,238 1,264,205 (5,582,967) 167,475
In-kind redemptions - Purchased options
contracts................................. 8,652,595 9,946,432 9,616,209 6,811,693
In-kind redemptions - Written options
contracts................................. 3,786,438 12,003,375 8,190,288 9,432,102
---------------- ----------------- ----------------- -----------------
Net realized gain (loss)........................ (14,601,378) (11,763,951) (11,767,937) (4,753,403)
---------------- ----------------- ----------------- -----------------
Net change in unrealized appreciation
(depreciation) on:
Investments - Affiliated..................... -- -- -- --
Purchased options contracts.................. 15,598,848 22,560,151 19,098,794 15,997,593
Written options contracts.................... 11,285,605 (2,582,546) 3,241,971 (1,134,390)
---------------- ----------------- ----------------- -----------------
Net change in unrealized appreciation
(depreciation)............................... 26,884,453 19,977,605 22,340,765 14,863,203
---------------- ----------------- ----------------- -----------------
NET REALIZED AND UNREALIZED
GAIN (LOSS).................................. 12,283,075 8,213,654 10,572,828 10,109,800
---------------- ----------------- ----------------- -----------------
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS.................... $ 10,951,801 $ 6,823,122 $ 9,720,394 $ 8,983,827
================ ================= ================= =================
Page 94 See Notes to Financial Statements
FT CBOE VEST FT CBOE VEST
BUFFERED BUFFERED
ALLOCATION ALLOCATION
DEFENSIVE ETF GROWTH ETF
(BUFT) (BUFG)
----------------- -----------------
$ 362 $ 774
----------------- -----------------
362 774
----------------- -----------------
145,120 155,336
----------------- -----------------
145,120 155,336
----------------- -----------------
(144,758) (154,562)
----------------- -----------------
(1,996,469) (3,064,346)
585,326 2,614,474
-- --
-- --
-- --
-- --
----------------- -----------------
(1,411,143) (449,872)
----------------- -----------------
1,993,749 3,608,800
-- --
-- --
----------------- -----------------
1,993,749 3,608,800
----------------- -----------------
582,606 3,158,928
----------------- -----------------
$ 437,848 $ 3,004,366
================= =================
See Notes to Financial Statements Page 95
FIRST TRUST EXCHANGE-TRADED FUND VIII
STATEMENTS OF CHANGES IN NET ASSETS
FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF -
JANUARY JANUARY
(FJAN) (DJAN)
----------------------------------- -----------------------------------
SIX MONTHS ENDED SIX MONTHS ENDED
2/28/2023 YEAR ENDED 2/28/2023 YEAR ENDED
(UNAUDITED) 8/31/2022 (UNAUDITED) 8/31/2022
---------------- ---------------- ---------------- ----------------
OPERATIONS:
Net investment income (loss).................... $ (745,876) $ (1,391,171) $ (679,093) $ (753,767)
Net realized gain (loss)........................ (3,039,647) 14,262,964 (6,932,029) 3,109,306
Net change in unrealized appreciation
(depreciation)............................... 10,483,545 (20,809,090) 6,155,537 (7,850,906)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in net assets resulting
from operations.............................. 6,698,022 (7,937,297) (1,455,585) (5,495,367)
---------------- ---------------- ---------------- ----------------
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold....................... 302,806,191 328,102,017 228,556,838 159,018,136
Cost of shares redeemed......................... (250,523,041) (257,742,698) (155,897,071) (70,102,594)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in net assets resulting
from shareholder transactions................ 52,283,150 70,359,319 72,659,767 88,915,542
---------------- ---------------- ---------------- ----------------
Total increase (decrease) in net assets......... 58,981,172 62,422,022 71,204,182 83,420,175
NET ASSETS:
Beginning of period............................. 189,233,261 126,811,239 132,930,787 49,510,612
---------------- ---------------- ---------------- ----------------
End of period................................... $ 248,214,433 $ 189,233,261 $ 204,134,969 $ 132,930,787
================ ================ ================ ================
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period......... 5,850,002 3,800,002 4,325,002 1,550,002
Shares sold..................................... 9,000,000 9,675,000 7,500,000 4,975,000
Shares redeemed................................. (7,550,000) (7,625,000) (5,125,000) (2,200,000)
---------------- ---------------- ---------------- ----------------
Shares outstanding, end of period............... 7,300,002 5,850,002 6,700,002 4,325,002
================ ================ ================ ================
Page 96 See Notes to Financial Statements
FT CBOE VEST FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF -
FEBRUARY FEBRUARY MARCH
(FFEB) (DFEB) (FMAR)
----------------------------------- ----------------------------------- -----------------------------------
SIX MONTHS ENDED SIX MONTHS ENDED SIX MONTHS ENDED
2/28/2023 YEAR ENDED 2/28/2023 YEAR ENDED 2/28/2023 YEAR ENDED
(UNAUDITED) 8/31/2022 (UNAUDITED) 8/31/2022 (UNAUDITED) 8/31/2022
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ (1,083,574) $ (2,252,096) $ (1,229,806) $ (2,397,117) $ (754,523) $ (1,156,015)
(4,188,874) 21,810,047 (16,037,283) 23,889,502 2,561,413 9,014,209
10,362,242 (38,316,344) 9,009,575 (29,241,578) 5,575,423 (16,742,715)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
5,089,794 (18,758,393) (8,257,514) (7,749,193) 7,382,313 (8,884,521)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
116,715,430 352,535,376 106,332,616 165,534,703 76,404,764 312,117,345
(103,852,537) (289,151,113) (142,161,306) (137,313,869) (76,870,575) (188,778,497)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
12,862,893 63,384,263 (35,828,690) 28,220,834 (465,811) 123,338,848
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
17,952,687 44,625,870 (44,086,204) 20,471,641 6,916,502 114,454,327
303,078,820 258,452,950 303,105,540 282,633,899 197,063,709 82,609,382
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ 321,031,507 $ 303,078,820 $ 259,019,336 $ 303,105,540 $ 203,980,211 $ 197,063,709
================ ================ ================ ================ ================ ================
8,550,002 6,900,002 8,925,002 8,150,002 6,300,002 2,550,002
3,225,000 9,425,000 3,200,000 4,725,000 2,450,000 9,650,000
(2,950,000) (7,775,000) (4,250,000) (3,950,000) (2,475,000) (5,900,000)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
8,825,002 8,550,002 7,875,002 8,925,002 6,275,002 6,300,002
================ ================ ================ ================ ================ ================
See Notes to Financial Statements Page 97
FIRST TRUST EXCHANGE-TRADED FUND VIII
STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)
FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY
DEEP BUFFER ETF - BUFFER ETF -
MARCH APRIL
(DMAR) (FAPR)
----------------------------------- -----------------------------------
SIX MONTHS ENDED SIX MONTHS ENDED
2/28/2023 YEAR ENDED 2/28/2023 YEAR ENDED
(UNAUDITED) 8/31/2022 (UNAUDITED) 8/31/2022
---------------- ---------------- ---------------- ----------------
OPERATIONS:
Net investment income (loss).................... $ (1,020,943) $ (958,983) $ (1,059,574) $ (1,510,112)
Net realized gain (loss)........................ 11,142,284 5,408,208 2,210,881 4,651,169
Net change in unrealized appreciation
(depreciation)............................... (10,183,183) (10,843,530) 5,019,613 (19,147,024)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in net assets resulting
from operations.............................. (61,842) (6,394,305) 6,170,920 (16,005,967)
---------------- ---------------- ---------------- ----------------
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold....................... 171,157,082 264,607,946 16,256,221 416,433,966
Cost of shares redeemed......................... (145,508,062) (131,473,973) (56,203,108) (253,668,242)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in net assets resulting
from shareholder transactions................ 25,649,020 133,133,973 (39,946,887) 162,765,724
---------------- ---------------- ---------------- ----------------
Total increase (decrease) in net assets......... 25,587,178 126,739,668 (33,775,967) 146,759,757
NET ASSETS:
Beginning of period............................. 192,792,639 66,052,971 281,511,067 134,751,310
---------------- ---------------- ---------------- ----------------
End of period................................... $ 218,379,817 $ 192,792,639 $ 247,735,100 $ 281,511,067
================ ================ ================ ================
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period......... 6,350,002 2,100,002 9,575,002 4,250,002
Shares sold..................................... 5,675,000 8,425,000 550,000 13,375,000
Shares redeemed................................. (4,800,000) (4,175,000) (1,925,000) (8,050,000)
---------------- ---------------- ---------------- ----------------
Shares outstanding, end of period............... 7,225,002 6,350,002 8,200,002 9,575,002
================ ================ ================ ================
Page 98 See Notes to Financial Statements
FT CBOE VEST FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY U.S. EQUITY
DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF -
APRIL MAY MAY
(DAPR) (FMAY) (DMAY)
----------------------------------- ----------------------------------- -----------------------------------
SIX MONTHS ENDED SIX MONTHS ENDED SIX MONTHS ENDED
2/28/2023 YEAR ENDED 2/28/2023 YEAR ENDED 2/28/2023 YEAR ENDED
(UNAUDITED) 8/31/2022 (UNAUDITED) 8/31/2022 (UNAUDITED) 8/31/2022
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ (1,158,349) $ (1,197,189) $ (1,476,109) $ (1,544,625) $ (752,604) $ (976,308)
2,425,384 6,280,511 6,417,396 (595,333) 5,292,573 (1,890,896)
(4,452,110) (9,301,745) (2,885,253) (3,022,511) (3,189,994) (2,975,092)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
(3,185,075) (4,218,423) 2,056,034 (5,162,469) 1,349,975 (5,842,296)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
93,263,652 345,991,375 60,829,139 466,357,686 45,018,722 335,159,808
(37,721,999) (169,165,052) (101,410,015) (209,223,301) (127,766,374) (166,669,713)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
55,541,653 176,826,323 (40,580,876) 257,134,385 (82,747,652) 168,490,095
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
52,356,578 172,607,900 (38,524,842) 251,971,916 (81,397,677) 162,647,799
265,833,462 93,225,562 363,847,762 111,875,846 226,018,414 63,370,615
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ 318,190,040 $ 265,833,462 $ 325,322,920 $ 363,847,762 $ 144,620,737 $ 226,018,414
================ ================ ================ ================ ================ ================
8,900,002 3,000,002 10,200,002 3,000,002 7,150,002 1,850,002
3,150,000 11,300,000 1,700,000 13,125,000 1,450,000 10,500,000
(1,275,000) (5,400,000) (2,850,000) (5,925,000) (4,050,000) (5,200,000)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
10,775,002 8,900,002 9,050,002 10,200,002 4,550,002 7,150,002
================ ================ ================ ================ ================ ================
See Notes to Financial Statements Page 99
FIRST TRUST EXCHANGE-TRADED FUND VIII
STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)
FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF -
JUNE JUNE
(FJUN) (DJUN)
----------------------------------- -----------------------------------
SIX MONTHS ENDED SIX MONTHS ENDED
2/28/2023 YEAR ENDED 2/28/2023 YEAR ENDED
(UNAUDITED) 8/31/2022 (UNAUDITED) 8/31/2022
---------------- ---------------- ---------------- ----------------
OPERATIONS:
Net investment income (loss).................... $ (1,220,246) $ (1,307,676) $ (718,684) $ (782,365)
Net realized gain (loss)........................ 4,572,919 (2,682,145) 2,894,053 (5,967,985)
Net change in unrealized appreciation
(depreciation)............................... 2,587,346 8,294,071 1,749,209 4,257,627
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in net assets resulting
from operations.............................. 5,940,019 4,304,250 3,924,578 (2,492,723)
---------------- ---------------- ---------------- ----------------
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold....................... 47,059,133 334,243,119 18,648,424 265,756,218
Cost of shares redeemed......................... (72,088,831) (153,124,271) (38,276,099) (129,150,213)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in net assets resulting
from shareholder transactions................ (25,029,698) 181,118,848 (19,627,675) 136,606,005
---------------- ---------------- ---------------- ----------------
Total increase (decrease) in net assets......... (19,089,679) 185,423,098 (15,703,097) 134,113,282
NET ASSETS:
Beginning of period............................. 298,497,863 113,074,765 180,064,210 45,950,928
---------------- ---------------- ---------------- ----------------
End of period................................... $ 279,408,184 $ 298,497,863 $ 164,361,113 $ 180,064,210
================ ================ ================ ================
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period......... 8,200,002 3,050,002 5,550,002 1,350,002
Shares sold..................................... 1,325,000 9,450,000 575,000 8,275,000
Shares redeemed................................. (2,000,000) (4,300,000) (1,175,000) (4,075,000)
---------------- ---------------- ---------------- ----------------
Shares outstanding, end of period............... 7,525,002 8,200,002 4,950,002 5,550,002
================ ================ ================ ================
Page 100 See Notes to Financial Statements
FT CBOE VEST FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF - BUFFER ETF -
JULY JULY AUGUST
(FJUL) (DJUL) (FAUG)
----------------------------------- ----------------------------------- -----------------------------------
SIX MONTHS ENDED SIX MONTHS ENDED SIX MONTHS ENDED
2/28/2023 YEAR ENDED 2/28/2023 YEAR ENDED 2/28/2023 YEAR ENDED
(UNAUDITED) 8/31/2022 (UNAUDITED) 8/31/2022 (UNAUDITED) 8/31/2022
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ (889,527) $ (1,310,125) $ (650,791) $ (649,564) $ (1,223,843) $ (1,741,152)
462,232 (1,608,324) 2,909,388 (4,058,404) (2,590,103) 314,717
3,212,455 (276,815) (58,462) (408,532) 3,345,237 (13,578,659)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
2,785,160 (3,195,264) 2,200,135 (5,116,500) (468,709) (15,005,094)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
31,268,509 256,049,793 37,129,665 138,113,236 99,527,004 505,209,564
(31,330,212) (156,983,382) (48,946,595) (30,595,982) (89,833,736) (322,863,018)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
(61,703) 99,066,411 (11,816,930) 107,517,254 9,693,268 182,346,546
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
2,723,457 95,871,147 (9,616,795) 102,400,754 9,224,559 167,341,452
220,593,375 124,722,228 157,135,471 54,734,717 322,983,103 155,641,651
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ 223,316,832 $ 220,593,375 $ 147,518,676 $ 157,135,471 $ 332,207,662 $ 322,983,103
================ ================ ================ ================ ================ ================
6,350,002 3,500,002 5,050,002 1,650,002 9,150,002 4,150,002
900,000 7,450,000 1,200,000 4,375,000 2,800,000 13,750,000
(925,000) (4,600,000) (1,575,000) (975,000) (2,625,000) (8,750,000)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
6,325,002 6,350,002 4,675,002 5,050,002 9,325,002 9,150,002
================ ================ ================ ================ ================ ================
See Notes to Financial Statements Page 101
FIRST TRUST EXCHANGE-TRADED FUND VIII
STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)
FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY
DEEP BUFFER ETF - BUFFER ETF -
AUGUST SEPTEMBER
(DAUG) (FSEP)
----------------------------------- -----------------------------------
SIX MONTHS ENDED SIX MONTHS ENDED
2/28/2023 YEAR ENDED 2/28/2023 YEAR ENDED
(UNAUDITED) 8/31/2022 (UNAUDITED) 8/31/2022
---------------- ---------------- ---------------- ----------------
OPERATIONS:
Net investment income (loss).................... $ (1,207,612) $ (1,203,464) $ (975,189) $ (1,050,145)
Net realized gain (loss)........................ 591,775 (7,582,194) (7,884,928) 3,504,356
Net change in unrealized appreciation
(depreciation)............................... 1,787,949 (5,122,796) 19,020,021 (6,645,284)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in net assets resulting
from operations.............................. 1,172,112 (13,908,454) 10,159,904 (4,191,073)
---------------- ---------------- ---------------- ----------------
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold....................... 301,327,601 139,069,655 312,405,103 170,863,306
Cost of shares redeemed......................... (11,684,917) (58,381,894) (145,978,739) (82,894,617)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in net assets resulting
from shareholder transactions................ 289,642,684 80,687,761 166,426,364 87,968,689
---------------- ---------------- ---------------- ----------------
Total increase (decrease) in net assets......... 290,814,796 66,779,307 176,586,268 83,777,616
NET ASSETS:
Beginning of period............................. 157,149,302 90,369,995 125,121,712 41,344,096
---------------- ---------------- ---------------- ----------------
End of period................................... $ 447,964,098 $ 157,149,302 $ 301,707,980 $ 125,121,712
================ ================ ================ ================
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period......... 4,975,002 2,600,002 3,750,002 1,200,002
Shares sold..................................... 9,625,000 4,150,000 9,350,000 5,000,000
Shares redeemed................................. (375,000) (1,775,000) (4,325,000) (2,450,000)
---------------- ---------------- ---------------- ----------------
Shares outstanding, end of period............... 14,225,002 4,975,002 8,775,002 3,750,002
================ ================ ================ ================
Page 102 See Notes to Financial Statements
FT CBOE VEST FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY U.S. EQUITY
DEEP BUFFER ETF - BUFFER ETF - DEEP BUFFER ETF -
SEPTEMBER OCTOBER OCTOBER
(DSEP) (FOCT) (DOCT)
----------------------------------- ----------------------------------- -----------------------------------
SIX MONTHS ENDED SIX MONTHS ENDED SIX MONTHS ENDED
2/28/2023 YEAR ENDED 2/28/2023 YEAR ENDED 2/28/2023 YEAR ENDED
(UNAUDITED) 8/31/2022 (UNAUDITED) 8/31/2022 (UNAUDITED) 8/31/2022
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ (904,110) $ (616,042) $ (1,029,933) $ (1,246,010) $ (747,078) $ (876,082)
(344,839) 2,114,847 (12,301,738) 8,127,411 (5,948,978) 5,993,732
13,014,342 (6,219,566) 26,062,357 (16,678,598) 15,624,846 (12,307,775)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
11,765,393 (4,720,761) 12,730,686 (9,797,197) 8,928,790 (7,190,125)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
294,947,858 123,483,254 250,061,618 221,146,291 176,184,261 157,311,288
(205,352,620) (45,704,144) (113,370,877) (135,510,246) (116,349,874) (66,698,871)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
89,595,238 77,779,110 136,690,741 85,636,045 59,834,387 90,612,417
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
101,360,631 73,058,349 149,421,427 75,838,848 68,763,177 83,422,292
98,899,259 25,840,910 146,368,259 70,529,411 123,932,976 40,510,684
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ 200,259,890 $ 98,899,259 $ 295,789,686 $ 146,368,259 $ 192,696,153 $ 123,932,976
================ ================ ================ ================ ================ ================
3,250,002 800,002 4,450,002 2,050,002 4,050,002 1,250,002
9,750,000 3,925,000 7,700,000 6,400,000 5,675,000 4,900,000
(6,600,000) (1,475,000) (3,475,000) (4,000,000) (3,725,000) (2,100,000)
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
6,400,002 3,250,002 8,675,002 4,450,002 6,000,002 4,050,002
================ ================ ================ ================ ================ ================
See Notes to Financial Statements Page 103
FIRST TRUST EXCHANGE-TRADED FUND VIII
STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)
FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF -
NOVEMBER NOVEMBER
(FNOV) (DNOV)
----------------------------------- -----------------------------------
SIX MONTHS ENDED SIX MONTHS ENDED
2/28/2023 YEAR ENDED 2/28/2023 YEAR ENDED
(UNAUDITED) 8/31/2022 (UNAUDITED) 8/31/2022
---------------- ---------------- ---------------- ----------------
OPERATIONS:
Net investment income (loss).................... $ (1,331,274) $ (2,195,397) $ (1,390,532) $ (1,948,255)
Net realized gain (loss)........................ (14,601,378) 15,244,224 (11,763,951) 6,967,268
Net change in unrealized appreciation
(depreciation)............................... 26,884,453 (35,203,791) 19,977,605 (20,288,492)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in net assets resulting
from operations.............................. 10,951,801 (22,154,964) 6,823,122 (15,269,479)
---------------- ---------------- ---------------- ----------------
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold....................... 256,097,565 371,618,707 333,708,359 419,849,301
Cost of shares redeemed......................... (137,779,072) (232,021,535) (442,110,565) (95,354,206)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in net assets resulting
from shareholder transactions................ 118,318,493 139,597,172 (108,402,206) 324,495,095
---------------- ---------------- ---------------- ----------------
Total increase (decrease) in net assets......... 129,270,294 117,442,208 (101,579,084) 309,225,616
NET ASSETS:
Beginning of period............................. 261,057,871 143,615,663 400,193,175 90,967,559
---------------- ---------------- ---------------- ----------------
End of period................................... $ 390,328,165 $ 261,057,871 $ 298,614,091 $ 400,193,175
================ ================ ================ ================
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period......... 7,350,002 3,750,002 12,200,002 2,600,002
Shares sold..................................... 7,150,000 9,775,000 10,100,000 12,425,000
Shares redeemed................................. (3,825,000) (6,175,000) (13,375,000) (2,825,000)
---------------- ---------------- ---------------- ----------------
Shares outstanding, end of period............... 10,675,002 7,350,002 8,925,002 12,200,002
================ ================ ================ ================
Page 104 See Notes to Financial Statements
FT CBOE VEST FT CBOE VEST
U.S. EQUITY U.S. EQUITY
BUFFER ETF - DEEP BUFFER ETF -
DECEMBER DECEMBER
(FDEC) (DDEC)
----------------------------------- -----------------------------------
SIX MONTHS ENDED SIX MONTHS ENDED
2/28/2023 YEAR ENDED 2/28/2023 YEAR ENDED
(UNAUDITED) 8/31/2022 (UNAUDITED) 8/31/2022
---------------- ---------------- ---------------- ----------------
$ (852,434) $ (1,466,254) $ (1,125,973) $ (1,055,125)
(11,767,937) 10,469,127 (4,753,403) 4,410,378
22,340,765 (23,910,741) 14,863,203 (11,616,669)
---------------- ---------------- ---------------- ----------------
9,720,394 (14,907,868) 8,983,827 (8,261,416)
---------------- ---------------- ---------------- ----------------
326,258,844 309,044,897 384,592,598 293,161,831
(293,482,849) (174,937,879) (323,131,850) (92,853,883)
---------------- ---------------- ---------------- ----------------
32,775,995 134,107,018 61,460,748 200,307,948
---------------- ---------------- ---------------- ----------------
42,496,389 119,199,150 70,444,575 192,046,532
190,142,185 70,943,035 251,592,039 59,545,507
---------------- ---------------- ---------------- ----------------
$ 232,638,574 $ 190,142,185 $ 322,036,614 $ 251,592,039
================ ================ ================ ================
6,000,002 2,100,002 8,275,002 1,850,002
10,100,000 9,175,000 12,550,000 9,325,000
(9,000,000) (5,275,000) (10,550,000) (2,900,000)
---------------- ---------------- ---------------- ----------------
7,100,002 6,000,002 10,275,002 8,275,002
================ ================ ================ ================
See Notes to Financial Statements Page 105
FIRST TRUST EXCHANGE-TRADED FUND VIII
STATEMENTS OF CHANGES IN NET ASSETS
FT CBOE VEST FT CBOE VEST
BUFFERED BUFFERED
ALLOCATION ALLOCATION
DEFENSIVE ETF GROWTH ETF
(BUFT) (BUFG)
----------------------------------- -----------------------------------
SIX MONTHS ENDED SIX MONTHS ENDED
2/28/2023 PERIOD ENDED 2/28/2023 PERIOD ENDED
(UNAUDITED) 8/31/2022 (a) (UNAUDITED) 8/31/2022 (a)
---------------- ---------------- ---------------- ----------------
OPERATIONS:
Net investment income (loss).................... $ (144,758) $ (153,311) $ (154,562) $ (196,551)
Net realized gain (loss)........................ (1,411,143) (7,182,794) (449,872) (11,328,800)
Net change in unrealized appreciation
(depreciation)............................... 1,993,749 (683,341) 3,608,800 (1,668,856)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in net assets resulting
from operations.............................. 437,848 (8,019,446) 3,004,366 (13,194,207)
---------------- ---------------- ---------------- ----------------
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold....................... 16,657,110 184,494,161 80,119,417 402,524,414
Cost of shares redeemed......................... (49,529,865) (21,635,002) (95,652,089) (225,912,418)
---------------- ---------------- ---------------- ----------------
Net increase (decrease) in net assets resulting
from shareholder transactions................ (32,872,755) 162,859,159 (15,532,672) 176,611,996
---------------- ---------------- ---------------- ----------------
Total increase (decrease) in net assets......... (32,434,907) 154,839,713 (12,528,306) 163,417,789
NET ASSETS:
Beginning of period............................. 154 ,839,713 -- 163,417,789 --
---------------- ---------------- ---------------- ----------------
End of period................................... $ 122,404,806 $ 154,839,713 $ 150,889,483 $ 163,417,789
================ ================ ================ ================
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period......... 8,300,002 -- 9,000,002 --
Shares sold..................................... 900,000 9,400,002 4,350,000 21,000,002
Shares redeemed................................. (2,650,000) (1,100,000) (5,200,000) (12,000,000)
---------------- ---------------- ---------------- ----------------
Shares outstanding, end of period............... 6,550,002 8,300,002 8,150,002 9,000,002
================ ================ ================ ================
(a) Inception date is October 26, 2021, which is consistent with the
commencement of investment operations and is the date the initial creation
units were established.
Page 106 See Notes to Financial Statements
FIRST TRUST EXCHANGE-TRADED FUND VIII
FINANCIAL HIGHLIGHTS
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
FT CBOE VEST U.S. EQUITY BUFFER ETF - JANUARY (FJAN)
SIX MONTHS
ENDED YEAR PERIOD
2/28/2023 ENDED ENDED
(UNAUDITED) 8/31/2022 8/31/2021 (a)
-------------- -------------- --------------
Net asset value, beginning of period........................... $ 32.35 $ 33.37 $ 30.06
-------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.07) (0.19) (0.14)
Net realized and unrealized gain (loss)........................ 1.72 (0.83) 3.45
-------- -------- --------
Total from investment operations............................... 1.65 (1.02) 3.31
-------- -------- --------
Net asset value, end of period................................. $ 34.00 $ 32.35 $ 33.37
======== ======== ========
TOTAL RETURN (b)............................................... 5.10% (3.06)% 11.01%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $248,214 $189,233 $126,811
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (c) 0.85% 0.85% (c)
Ratio of net investment income (loss) to average net assets.... (0.82)% (c) (0.85)% (0.85)% (c)
Portfolio turnover rate (d).................................... 0% 0% 0%
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JANUARY (DJAN)
SIX MONTHS
ENDED YEAR PERIOD
2/28/2023 ENDED ENDED
(UNAUDITED) 8/31/2022 8/31/2021 (a)
-------------- -------------- --------------
Net asset value, beginning of period........................... $ 30.74 $ 31.94 $ 30.06
-------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.05) (0.04) (0.22)
Net realized and unrealized gain (loss)........................ (0.22) (1.16) 2.10
-------- -------- --------
Total from investment operations............................... (0.27) (1.20) 1.88
-------- -------- --------
Net asset value, end of period................................. $ 30.47 $ 30.74 $ 31.94
======== ======== ========
TOTAL RETURN (b)............................................... (0.88)% (3.76)% 6.25%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $204,135 $132,931 $ 49,511
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (c) 0.85% 0.85% (c)
Ratio of net investment income (loss) to average net assets.... (0.82)% (c) (0.85)% (0.85)% (c)
Portfolio turnover rate (d).................................... 0% 0% 0%
(a) Inception date is January 15, 2021, which is consistent with the
commencement of investment operations and is the date the initial creation
units were established.
(b) Total return is calculated assuming an initial investment made at the net
asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net
asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods
of less than a year.
(c) Annualized.
(d) Portfolio turnover is calculated for the time period presented and is not
annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions,
derivatives and in-kind transactions.
See Notes to Financial Statements Page 107
FIRST TRUST EXCHANGE-TRADED FUND VIII
FINANCIAL HIGHLIGHTS (CONTINUED)
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
FT CBOE VEST U.S. EQUITY BUFFER ETF - FEBRUARY (FFEB)
SIX MONTHS
ENDED YEAR ENDED AUGUST 31, PERIOD
2/28/2023 ------------------------------ ENDED
(UNAUDITED) 2022 2021 8/31/2020 (a)
-------------- -------------- -------------- --------------
Net asset value, beginning of period........................... $ 35.45 $ 37.46 $ 31.48 $ 30.68
-------- -------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.12) (0.22) (0.30) (0.08)
Net realized and unrealized gain (loss)........................ 1.05 (1.79) 6.28 0.88
-------- -------- -------- --------
Total from investment operations............................... 0.93 (2.01) 5.98 0.80
-------- -------- -------- --------
Net asset value, end of period................................. $ 36.38 $ 35.45 $ 37.46 $ 31.48
======== ======== ======== ========
TOTAL RETURN (b)............................................... 2.62% (5.37)% 19.00% 2.61%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $321,032 $303,079 $258,453 $210,925
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (c) 0.85% 0.85% 0.85% (c)
Ratio of net investment income (loss) to average net assets.... (0.83)% (c) (0.84)% (0.85)% (0.85)% (c)
Portfolio turnover rate (d).................................... 0% 0% 0% 0%
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - FEBRUARY (DFEB)
SIX MONTHS
ENDED YEAR ENDED AUGUST 31, PERIOD
2/28/2023 ------------------------------ ENDED
(UNAUDITED) 2022 2021 8/31/2020 (a)
-------------- -------------- -------------- --------------
Net asset value, beginning of period........................... $ 33.96 $ 34.68 $ 31.24 $ 30.68
-------- -------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.18) (0.25) (0.52) (0.11)
Net realized and unrealized gain (loss)........................ (0.89) (0.47) 3.96 0.67
-------- -------- -------- --------
Total from investment operations............................... (1.07) (0.72) 3.44 0.56
-------- -------- -------- --------
Net asset value, end of period................................. $ 32.89 $ 33.96 $ 34.68 $ 31.24
======== ======== ======== ========
TOTAL RETURN (b)............................................... (3.15)% (2.08)% 11.01% 1.83%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $259,019 $303,106 $282,634 $534,276
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (c) 0.85% 0.85% 0.85% (c)
Ratio of net investment income (loss) to average net assets.... (0.82)% (c) (0.85)% (0.85)% (0.85)% (c)
Portfolio turnover rate (d).................................... 0% 0% 0% 0%
(a) Inception date is February 21, 2020, which is consistent with the
commencement of investment operations and is the date the initial creation
units were established.
(b) Total return is calculated assuming an initial investment made at the net
asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net
asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods
of less than a year.
(c) Annualized.
(d) Portfolio turnover is calculated for the time period presented and is not
annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions,
derivatives and in-kind transactions.
Page 108 See Notes to Financial Statements
FIRST TRUST EXCHANGE-TRADED FUND VIII
FINANCIAL HIGHLIGHTS (CONTINUED)
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
FT CBOE VEST U.S. EQUITY BUFFER ETF - MARCH (FMAR)
SIX MONTHS
ENDED YEAR PERIOD
2/28/2023 ENDED ENDED
(UNAUDITED) 8/31/2022 8/31/2021 (a)
-------------- -------------- --------------
Net asset value, beginning of period........................... $ 31.28 $ 32.40 $ 29.60
-------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.12) (0.13) (0.10)
Net realized and unrealized gain (loss)........................ 1.35 (0.99) 2.90
-------- -------- --------
Total from investment operations............................... 1.23 (1.12) 2.80
-------- -------- --------
Net asset value, end of period................................. $ 32.51 $ 31.28 $ 32.40
======== ======== ========
TOTAL RETURN (b)............................................... 3.93% (3.46)% 9.46%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $203,980 $197,064 $ 82,609
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (c) 0.85% 0.85% (c)
Ratio of net investment income (loss) to average net assets.... (0.83)% (c) (0.84)% (0.85)% (c)
Portfolio turnover rate (d).................................... 0% 0% 0%
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - MARCH (DMAR)
SIX MONTHS
ENDED YEAR PERIOD
2/28/2023 ENDED ENDED
(UNAUDITED) 8/31/2022 8/31/2021 (a)
-------------- -------------- --------------
Net asset value, beginning of period........................... $ 30.36 $ 31.45 $ 29.60
-------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.13) (0.09) (0.10)
Net realized and unrealized gain (loss)........................ (0.00) (e) (1.00) 1.95
-------- -------- --------
Total from investment operations............................... (0.13) (1.09) 1.85
-------- -------- --------
Net asset value, end of period................................. $ 30.23 $ 30.36 $ 31.45
======== ======== ========
TOTAL RETURN (b)............................................... (0.43)% (3.47)% 6.25%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $218,380 $192,793 $ 66,053
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (c) 0.85% 0.85% (c)
Ratio of net investment income (loss) to average net assets.... (0.83)% (c) (0.84)% (0.85)% (c)
Portfolio turnover rate (d).................................... 0% 0% 0%
(a) Inception date is March 19, 2021, which is consistent with the
commencement of investment operations and is the date the initial creation
units were established.
(b) Total return is calculated assuming an initial investment made at the net
asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net
asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods
of less than a year.
(c) Annualized.
(d) Portfolio turnover is calculated for the time period presented and is not
annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions,
derivatives and in-kind transactions.
(e) Amount is less than $0.01.
See Notes to Financial Statements Page 109
FIRST TRUST EXCHANGE-TRADED FUND VIII
FINANCIAL HIGHLIGHTS (CONTINUED)
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
FT CBOE VEST U.S. EQUITY BUFFER ETF - APRIL (FAPR)
SIX MONTHS
ENDED YEAR PERIOD
2/28/2023 ENDED ENDED
(UNAUDITED) 8/31/2022 8/31/2021 (a)
-------------- -------------- --------------
Net asset value, beginning of period........................... $ 29.40 $ 31.71 $ 30.04
-------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.15) (0.12) (0.08)
Net realized and unrealized gain (loss)........................ 0.96 (2.19) 1.75
-------- -------- --------
Total from investment operations............................... 0.81 (2.31) 1.67
-------- -------- --------
Net asset value, end of period................................. $ 30.21 $ 29.40 $ 31.71
======== ======== ========
TOTAL RETURN (b)............................................... 2.76% (7.28)% 5.56%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $247,735 $281,511 $134,751
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (c) 0.85% 0.85% (c)
Ratio of net investment income (loss) to average net assets.... (0.82)% (c) (0.84)% (0.85)% (c)
Portfolio turnover rate (d).................................... 0% 0% 0%
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - APRIL (DAPR)
SIX MONTHS
ENDED YEAR PERIOD
2/28/2023 ENDED ENDED
(UNAUDITED) 8/31/2022 8/31/2021 (a)
-------------- -------------- --------------
Net asset value, beginning of period........................... $ 29.87 $ 31.08 $ 30.04
-------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.09) (0.07) (0.10)
Net realized and unrealized gain (loss)........................ (0.25) (1.14) 1.14
-------- -------- --------
Total from investment operations............................... (0.34) (1.21) 1.04
-------- -------- --------
Net asset value, end of period................................. $ 29.53 $ 29.87 $ 31.08
======== ======== ========
TOTAL RETURN (b)............................................... (1.14)% (3.89)% 3.46%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $318,190 $265,833 $ 93,226
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (c) 0.85% 0.85% (c)
Ratio of net investment income (loss) to average net assets.... (0.82)% (c) (0.84)% (0.85)% (c)
Portfolio turnover rate (d).................................... 0% 0% 0%
(a) Inception date is April 16, 2021, which is consistent with the
commencement of investment operations and is the date the initial creation
units were established.
(b) Total return is calculated assuming an initial investment made at the net
asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net
asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods
of less than a year.
(c) Annualized.
(d) Portfolio turnover is calculated for the time period presented and is not
annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions,
derivatives and in-kind transactions.
Page 110 See Notes to Financial Statements
FIRST TRUST EXCHANGE-TRADED FUND VIII
FINANCIAL HIGHLIGHTS (CONTINUED)
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
FT CBOE VEST U.S. EQUITY BUFFER ETF - MAY (FMAY)
SIX MONTHS
ENDED YEAR ENDED AUGUST 31, PERIOD
2/28/2023 ------------------------------ ENDED
(UNAUDITED) 2022 2021 8/31/2020 (a)
-------------- -------------- -------------- --------------
Net asset value, beginning of period........................... $ 35.67 $ 37.29 $ 33.47 $ 30.34
-------- -------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.18) (0.05) (0.16) (0.07)
Net realized and unrealized gain (loss)........................ 0.46 (1.57) 3.98 3.20
-------- -------- -------- --------
Total from investment operations............................... 0.28 (1.62) 3.82 3.13
-------- -------- -------- --------
Net asset value, end of period................................. $ 35.95 $ 35.67 $ 37.29 $ 33.47
======== ======== ======== ========
TOTAL RETURN (b)............................................... 0.78% (4.34)% 11.41% 10.32%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $325,323 $363,848 $111,876 $ 38,487
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (c) 0.85% 0.85% 0.85% (c)
Ratio of net investment income (loss) to average net assets.... (0.82)% (c) (0.84)% (0.85)% (0.85)% (c)
Portfolio turnover rate (d).................................... 0% 0% 0% 0%
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - MAY (DMAY)
SIX MONTHS
ENDED YEAR ENDED AUGUST 31, PERIOD
2/28/2023 ------------------------------ ENDED
(UNAUDITED) 2022 2021 8/31/2020 (a)
-------------- -------------- -------------- --------------
Net asset value, beginning of period........................... $ 31.61 $ 34.25 $ 32.16 $ 30.35
-------- -------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.23) (0.05) (0.08) (0.07)
Net realized and unrealized gain (loss)........................ 0.40 (2.59) 2.17 1.88
-------- -------- -------- --------
Total from investment operations............................... 0.17 (2.64) 2.09 1.81
-------- -------- -------- --------
Net asset value, end of period................................. $ 31.78 $ 31.61 $ 34.25 $ 32.16
======== ======== ======== ========
TOTAL RETURN (b)............................................... 0.54% (7.71)% 6.50% 5.96%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $144,621 $226,018 $ 63,371 $ 11,255
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (c) 0.85% 0.85% 0.85% (c)
Ratio of net investment income (loss) to average net assets.... (0.82)% (c) (0.84)% (0.85)% (0.85)% (c)
Portfolio turnover rate (d).................................... 0% 0% 0% 0%
(a) Inception date is May 15, 2020, which is consistent with the commencement
of investment operations and is the date the initial creation units were
established.
(b) Total return is calculated assuming an initial investment made at the net
asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net
asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods
of less than a year.
(c) Annualized.
(d) Portfolio turnover is calculated for the time period presented and is not
annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions,
derivatives and in-kind transactions.
See Notes to Financial Statements Page 111
FIRST TRUST EXCHANGE-TRADED FUND VIII
FINANCIAL HIGHLIGHTS (CONTINUED)
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
FT CBOE VEST U.S. EQUITY BUFFER ETF - JUNE (FJUN)
SIX MONTHS
ENDED YEAR ENDED AUGUST 31, PERIOD
2/28/2023 ------------------------------ ENDED
(UNAUDITED) 2022 2021 8/31/2020 (a)
-------------- -------------- -------------- --------------
Net asset value, beginning of period........................... $ 36.40 $ 37.07 $ 32.56 $ 30.25
-------- -------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.17) (0.08) (0.15) (0.05)
Net realized and unrealized gain (loss)........................ 0.90 (0.59) (b) 4.66 2.36
-------- -------- -------- --------
Total from investment operations............................... 0.73 (0.67) 4.51 2.31
-------- -------- -------- --------
Net asset value, end of period................................. $ 37.13 $ 36.40 $ 37.07 $ 32.56
======== ======== ======== ========
TOTAL RETURN (c)............................................... 2.01% (1.81)% 13.85% 7.64%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $279,408 $298,498 $113,075 $ 48,845
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (d) 0.85% 0.85% 0.85% (d)
Ratio of net investment income (loss) to average net assets.... (0.82)% (d) (0.84)% (0.85)% (0.85)% (d)
Portfolio turnover rate (e).................................... 0% 0% 0% 0%
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JUNE (DJUN)
SIX MONTHS
ENDED YEAR ENDED AUGUST 31, PERIOD
2/28/2023 ------------------------------ ENDED
(UNAUDITED) 2022 2021 8/31/2020 (a)
-------------- -------------- -------------- --------------
Net asset value, beginning of period........................... $ 32.44 $ 34.04 $ 31.62 $ 30.25
-------- -------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.16) (0.07) (0.13) (0.04)
Net realized and unrealized gain (loss)........................ 0.92 (1.53) 2.55 1.41
-------- -------- -------- --------
Total from investment operations............................... 0.76 (1.60) 2.42 1.37
-------- -------- -------- --------
Net asset value, end of period................................. $ 33.20 $ 32.44 $ 34.04 $ 31.62
======== ======== ======== ========
TOTAL RETURN (c)............................................... 2.34% (4.70)% 7.65% 4.53%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $164,361 $180,064 $ 45,951 $ 20,551
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (d) 0.85% 0.85% 0.85% (d)
Ratio of net investment income (loss) to average net assets.... (0.82)% (d) (0.84)% (0.85)% (0.85)% (d)
Portfolio turnover rate (e).................................... 0% 0% 0% 0%
(a) Inception date is June 19, 2020, which is consistent with the commencement
of investment operations and is the date the initial creation units were
established.
(b) The per share amount does not correlate with the aggregate realized and
unrealized gain (loss) due to the timing of the Fund share sales and
repurchases in relation to market value fluctuation of the underlying
investments.
(c) Total return is calculated assuming an initial investment made at the net
asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net
asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods
of less than a year.
(d) Annualized.
(e) Portfolio turnover is calculated for the time period presented and is not
annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions,
derivatives and in-kind transactions.
Page 112 See Notes to Financial Statements
FIRST TRUST EXCHANGE-TRADED FUND VIII
FINANCIAL HIGHLIGHTS (CONTINUED)
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
FT CBOE VEST U.S. EQUITY BUFFER ETF - JULY (FJUL)
SIX MONTHS
ENDED YEAR ENDED AUGUST 31, PERIOD
2/28/2023 ------------------------------ ENDED
(UNAUDITED) 2022 2021 8/31/2020 (a)
-------------- -------------- -------------- --------------
Net asset value, beginning of period........................... $ 34.74 $ 35.63 $ 31.61 $ 30.24
-------- -------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.14) (0.17) (0.09) (0.02)
Net realized and unrealized gain (loss)........................ 0.71 (0.72) 4.11 1.39
-------- -------- -------- --------
Total from investment operations............................... 0.57 (0.89) 4.02 1.37
-------- -------- -------- --------
Net asset value, end of period................................. $ 35.31 $ 34.74 $ 35.63 $ 31.61
======== ======== ======== ========
TOTAL RETURN (b)............................................... 1.64% (2.50)% 12.72% 4.53%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $223,317 $220,593 $124,722 $ 33,194
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (c) 0.85% 0.85% 0.85% (c)
Ratio of net investment income (loss) to average net assets.... (0.82)% (c) (0.84)% (0.85)% (0.85)% (c)
Portfolio turnover rate (d).................................... 0% 0% 0% 0%
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - JULY (DJUL)
SIX MONTHS
ENDED YEAR ENDED AUGUST 31, PERIOD
2/28/2023 ------------------------------ ENDED
(UNAUDITED) 2022 2021 8/31/2020 (a)
-------------- -------------- -------------- --------------
Net asset value, beginning of period........................... $ 31.12 $ 33.17 $ 30.96 $ 30.24
-------- -------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.15) (0.08) (0.09) (0.02)
Net realized and unrealized gain (loss)........................ 0.58 (1.97) 2.30 0.74
-------- -------- -------- --------
Total from investment operations............................... 0.43 (2.05) 2.21 0.72
-------- -------- -------- --------
Net asset value, end of period................................. $ 31.55 $ 31.12 $ 33.17 $ 30.96
======== ======== ======== ========
TOTAL RETURN (b)............................................... 1.38% (6.18)% 7.14% 2.38%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $147,519 $157,135 $ 54,735 $ 12,384
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (c) 0.85% 0.85% 0.85% (c)
Ratio of net investment income (loss) to average net assets.... (0.82)% (c) (0.84)% (0.85)% (0.85)% (c)
Portfolio turnover rate (d).................................... 0% 0% 0% 0%
(a) Inception date is July 17, 2020, which is consistent with the commencement
of investment operations and is the date the initial creation units were
established.
(b) Total return is calculated assuming an initial investment made at the net
asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net
asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods
of less than a year.
(c) Annualized.
(d) Portfolio turnover is calculated for the time period presented and is not
annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions,
derivatives and in-kind transactions.
See Notes to Financial Statements Page 113
FIRST TRUST EXCHANGE-TRADED FUND VIII
FINANCIAL HIGHLIGHTS (CONTINUED)
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
FT CBOE VEST U.S. EQUITY BUFFER ETF - AUGUST (FAUG)
SIX MONTHS
ENDED YEAR ENDED AUGUST 31, PERIOD
2/28/2023 ------------------------------ ENDED
(UNAUDITED) 2022 2021 8/31/2020 (a)
-------------- -------------- -------------- --------------
Net asset value, beginning of period........................... $ 35.30 $ 37.50 $ 32.95 $ 30.10
-------- -------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.13) (0.12) (0.13) (0.08)
Net realized and unrealized gain (loss)........................ 0.46 (2.08) 4.68 2.93
-------- -------- -------- --------
Total from investment operations............................... 0.33 (2.20) 4.55 2.85
-------- -------- -------- --------
Net asset value, end of period................................. $ 35.63 $ 35.30 $ 37.50 $ 32.95
======== ======== ======== ========
TOTAL RETURN (b)............................................... 0.93% (5.87)% 13.81% 9.47%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $332,208 $322,983 $155,642 $ 36,246
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (c) 0.85% 0.85% 0.85% (c)
Ratio of net investment income (loss) to average net assets.... (0.82)% (c) (0.84)% (0.85)% (0.83)% (c)
Portfolio turnover rate (d).................................... 0% 0% 0% 0%
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - AUGUST (DAUG)
SIX MONTHS
ENDED YEAR ENDED AUGUST 31, PERIOD
2/28/2023 ------------------------------ ENDED
(UNAUDITED) 2022 2021 8/31/2020 (a)
-------------- -------------- -------------- --------------
Net asset value, beginning of period........................... $ 31.59 $ 34.76 $ 32.15 $ 30.10
-------- -------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.13) (e) (0.14) (0.49) (0.19)
Net realized and unrealized gain (loss)........................ 0.03 (3.03) 3.10 2.24
-------- -------- -------- --------
Total from investment operations............................... (0.10) (3.17) 2.61 2.05
-------- -------- -------- --------
Net asset value, end of period................................. $ 31.49 $ 31.59 $ 34.76 $ 32.15
======== ======== ======== ========
TOTAL RETURN (b)............................................... (0.32)% (9.12)% 8.12% 6.81%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $447,964 $157,149 $ 90,370 $133,431
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (c) 0.85% 0.85% 0.85% (c)
Ratio of net investment income (loss) to average net assets.... (0.82)% (c) (0.85)% (0.85)% (0.85)% (c)
Portfolio turnover rate (d).................................... 0% 0% 0% 0%
(a) Inception date is November 6, 2019, which is consistent with the
commencement of investment operations and is the date the initial creation
units were established.
(b) Total return is calculated assuming an initial investment made at the net
asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net
asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods
of less than a year.
(c) Annualized.
(d) Portfolio turnover is calculated for the time period presented and is not
annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions,
derivatives and in-kind transactions.
(e) Based on average shares outstanding.
Page 114 See Notes to Financial Statements
FIRST TRUST EXCHANGE-TRADED FUND VIII
FINANCIAL HIGHLIGHTS (CONTINUED)
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
FT CBOE VEST U.S. EQUITY BUFFER ETF - SEPTEMBER (FSEP)
SIX MONTHS
ENDED YEAR PERIOD
2/28/2023 ENDED ENDED
(UNAUDITED) 8/31/2022 8/31/2021 (a)
-------------- -------------- --------------
Net asset value, beginning of period........................... $ 33.37 $ 34.45 $ 29.76
-------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.14) (b) (0.17) (0.16)
Net realized and unrealized gain (loss)........................ 1.15 (0.91) 4.85
-------- -------- --------
Total from investment operations............................... 1.01 (1.08) 4.69
-------- -------- --------
Net asset value, end of period................................. $ 34.38 $ 33.37 $ 34.45
======== ======== ========
TOTAL RETURN (c)............................................... 3.03% (3.13)% 15.76%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $301,708 $125,122 $ 41,344
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (d) 0.85% 0.85% (d)
Ratio of net investment income (loss) to average net assets.... (0.81)% (d) (0.85)% (0.85)% (d)
Portfolio turnover rate (e).................................... 0% 0% 0%
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - SEPTEMBER (DSEP)
SIX MONTHS
ENDED YEAR PERIOD
2/28/2023 ENDED ENDED
(UNAUDITED) 8/31/2022 8/31/2021 (a)
-------------- -------------- --------------
Net asset value, beginning of period........................... $ 30.43 $ 32.30 $ 29.76
-------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.03) (0.27) (b) (0.25)
Net realized and unrealized gain (loss)........................ 0.89 (1.60) 2.79
-------- -------- --------
Total from investment operations............................... 0.86 (1.87) 2.54
-------- -------- --------
Net asset value, end of period................................. $ 31.29 $ 30.43 $ 32.30
======== ======== ========
TOTAL RETURN (c)............................................... 2.83% (5.79)% 8.53%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $200,260 $ 98,899 $ 25,841
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (d) 0.85% 0.85% (d)
Ratio of net investment income (loss) to average net assets.... (0.79)% (d) (0.85)% (0.85)% (d)
Portfolio turnover rate (e).................................... 0% 0% 0%
(a) Inception date is September 18, 2020, which is consistent with the
commencement of investment operations and is the date the initial creation
units were established.
(b) Based on average shares outstanding.
(c) Total return is calculated assuming an initial investment made at the net
asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net
asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods
of less than a year.
(d) Annualized.
(e) Portfolio turnover is calculated for the time period presented and is not
annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions,
derivatives and in-kind transactions.
See Notes to Financial Statements Page 115
FIRST TRUST EXCHANGE-TRADED FUND VIII
FINANCIAL HIGHLIGHTS (CONTINUED)
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
FT CBOE VEST U.S. EQUITY BUFFER ETF - OCTOBER (FOCT)
SIX MONTHS
ENDED YEAR PERIOD
2/28/2023 ENDED ENDED
(UNAUDITED) 8/31/2022 8/31/2021 (a)
-------------- -------------- --------------
Net asset value, beginning of period........................... $ 32.89 $ 34.40 $ 29.87
-------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.14) (b) (0.17) (0.21)
Net realized and unrealized gain (loss)........................ 1.35 (1.34) 4.74
-------- -------- --------
Total from investment operations............................... 1.21 (1.51) 4.53
-------- -------- --------
Net asset value, end of period................................. $ 34.10 $ 32.89 $ 34.40
======== ======== ========
TOTAL RETURN (c)............................................... 3.68% (4.39)% 15.17%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $295,790 $146,368 $ 70,529
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (d) 0.85% 0.85% (d)
Ratio of net investment income (loss) to average net assets.... (0.81)% (d) (0.85)% (0.85)% (d)
Portfolio turnover rate (e).................................... 0% 0% 0%
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - OCTOBER (DOCT)
SIX MONTHS
ENDED YEAR PERIOD
2/28/2023 ENDED ENDED
(UNAUDITED) 8/31/2022 8/31/2021 (a)
-------------- -------------- --------------
Net asset value, beginning of period........................... $ 30.60 $ 32.41 $ 29.87
-------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.04) (0.08) (0.21)
Net realized and unrealized gain (loss)........................ 1.56 (1.73) 2.75
-------- -------- --------
Total from investment operations............................... 1.52 (1.81) 2.54
-------- -------- --------
Net asset value, end of period................................. $ 32.12 $ 30.60 $ 32.41
======== ======== ========
TOTAL RETURN (c)............................................... 4.97% (5.58)% 8.50%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $192,696 $123,933 $ 40,511
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (d) 0.85% 0.85% (d)
Ratio of net investment income (loss) to average net assets.... (0.81)% (d) (0.85)% (0.85)% (d)
Portfolio turnover rate (e).................................... 0% 0% 0%
(a) Inception date is October 16, 2020, which is consistent with the
commencement of investment operations and is the date the initial creation
units were established.
(b) Based on average shares outstanding.
(c) Total return is calculated assuming an initial investment made at the net
asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net
asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods
of less than a year.
(d) Annualized.
(e) Portfolio turnover is calculated for the time period presented and is not
annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions,
derivatives and in-kind transactions.
Page 116 See Notes to Financial Statements
FIRST TRUST EXCHANGE-TRADED FUND VIII
FINANCIAL HIGHLIGHTS (CONTINUED)
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
FT CBOE VEST U.S. EQUITY BUFFER ETF - NOVEMBER (FNOV)
SIX MONTHS
ENDED YEAR ENDED AUGUST 31, PERIOD
2/28/2023 ------------------------------ ENDED
(UNAUDITED) 2022 2021 8/31/2020 (a)
-------------- -------------- -------------- --------------
Net asset value, beginning of period........................... $ 35.52 $ 38.30 $ 32.89 $ 30.56
-------- -------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.14) (b) (0.05) (0.40) (0.10)
Net realized and unrealized gain (loss)........................ 1.18 (2.73) 5.81 2.43
-------- -------- -------- --------
Total from investment operations............................... 1.04 (2.78) 5.41 2.33
-------- -------- -------- --------
Net asset value, end of period................................. $ 36.56 $ 35.52 $ 38.30 $ 32.89
======== ======== ======== ========
TOTAL RETURN (c)............................................... 2.93% (7.26)% 16.45% 7.62%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $390,328 $261,058 $143,616 $138,133
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (d) 0.85% 0.85% 0.85% (d)
Ratio of net investment income (loss) to average net assets.... (0.81)% (d) (0.85)% (0.85)% (0.85)% (d)
Portfolio turnover rate (e).................................... 0% 0% 0% 0%
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - NOVEMBER (DNOV)
SIX MONTHS
ENDED YEAR ENDED AUGUST 31, PERIOD
2/28/2023 ------------------------------ ENDED
(UNAUDITED) 2022 2021 8/31/2020 (a)
-------------- -------------- -------------- --------------
Net asset value, beginning of period........................... $ 32.80 $ 34.99 $ 32.09 $ 30.55
-------- -------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.23) (0.28) (b) (0.43) (0.10)
Net realized and unrealized gain (loss)........................ 0.89 (1.91) 3.33 1.64
-------- -------- -------- --------
Total from investment operations............................... 0.66 (2.19) 2.90 1.54
-------- -------- -------- --------
Net asset value, end of period................................. $ 33.46 $ 32.80 $ 34.99 $ 32.09
======== ======== ======== ========
TOTAL RETURN (c)............................................... 2.01% (6.26)% 9.04% 5.04%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $ 298,614 $400,193 $ 90,968 $146,012
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (d) 0.85% 0.85% 0.85% (d)
Ratio of net investment income (loss) to average net assets.... (0.81)% (d) (0.84)% (0.85)% (0.85)% (d)
Portfolio turnover rate (e).................................... 0% 0% 0% 0%
(a) Inception date is November 15, 2019, which is consistent with the
commencement of investment operations and is the date the initial creation
units were established.
(b) Based on average shares outstanding.
(c) Total return is calculated assuming an initial investment made at the net
asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net
asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods
of less than a year.
(d) Annualized.
(e) Portfolio turnover is calculated for the time period presented and is not
annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions,
derivatives and in-kind transactions.
See Notes to Financial Statements Page 117
FIRST TRUST EXCHANGE-TRADED FUND VIII
FINANCIAL HIGHLIGHTS (CONTINUED)
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
FT CBOE VEST U.S. EQUITY BUFFER ETF - DECEMBER (FDEC)
SIX MONTHS
ENDED YEAR PERIOD
2/28/2023 ENDED ENDED
(UNAUDITED) 8/31/2022 8/31/2021 (a)
-------------- -------------- --------------
Net asset value, beginning of period........................... $ 31.69 $ 33.78 $ 30.27
-------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.09) (0.28) (b) (0.17)
Net realized and unrealized gain (loss)........................ 1.17 (1.81) 3.68
-------- -------- --------
Total from investment operations............................... 1.08 (2.09) 3.51
-------- -------- --------
Net asset value, end of period................................. $ 32.77 $ 31.69 $ 33.78
======== ======== ========
TOTAL RETURN (c)............................................... 3.41% (6.19)% 11.60%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $232,639 $190,142 $ 70,943
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (d) 0.85% 0.85% (d)
Ratio of net investment income (loss) to average net assets.... (0.82)% (d) (0.84)% (0.85)% (d)
Portfolio turnover rate (e).................................... 0% 0% 0%
FT CBOE VEST U.S. EQUITY DEEP BUFFER ETF - DECEMBER (DDEC)
SIX MONTHS
ENDED YEAR PERIOD
2/28/2023 ENDED ENDED
(UNAUDITED) 8/31/2022 8/31/2021 (a)
-------------- -------------- --------------
Net asset value, beginning of period........................... $ 30.40 $ 32.19 $ 30.27
-------- -------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.09) (0.26) (b) (0.18)
Net realized and unrealized gain (loss)........................ 1.03 (1.53) 2.10
-------- -------- --------
Total from investment operations............................... 0.94 (1.79) 1.92
-------- -------- --------
Net asset value, end of period................................. $ 31.34 $ 30.40 $ 32.19
======== ======== ========
TOTAL RETURN (c)............................................... 3.09% (5.56)% 6.34%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $322,037 $251,592 $ 59,546
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets.................. 0.85% (d) 0.85% 0.85% (d)
Ratio of net investment income (loss) to average net assets.... (0.82)% (d) (0.84)% (0.85)% (d)
Portfolio turnover rate (e).................................... 0% 0% 0%
(a) Inception date is December 18, 2020, which is consistent with the
commencement of investment operations and is the date the initial creation
units were established.
(b) Based on average shares outstanding.
(c) Total return is calculated assuming an initial investment made at the net
asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net
asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods
of less than a year.
(d) Annualized.
(e) Portfolio turnover is calculated for the time period presented and is not
annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions,
derivatives and in-kind transactions.
Page 118 See Notes to Financial Statements
FIRST TRUST EXCHANGE-TRADED FUND VIII
FINANCIAL HIGHLIGHTS (CONTINUED)
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
FT CBOE VEST BUFFERED ALLOCATION DEFENSIVE ETF (BUFT)
SIX MONTHS
ENDED PERIOD
2/28/2023 ENDED
(UNAUDITED) 8/31/2022 (a)
-------------- --------------
Net asset value, beginning of period........................... $ 18.66 $ 20.01
-------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.03) (0.02)
Net realized and unrealized gain (loss)........................ 0.06 (1.33)
-------- --------
Total from investment operations............................... 0.03 (1.35)
-------- --------
Net asset value, end of period................................. $ 18.69 $ 18.66
======== ========
TOTAL RETURN (b)............................................... 0.16% (6.75)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $122,405 $154,840
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets (c).............. 0.20% (d) 0.20% (d)
Ratio of net investment income (loss) to average net assets ... (0.20)% (d) (0.20)% (d)
Portfolio turnover rate (e).................................... 229% 445%
FT CBOE VEST BUFFERED ALLOCATION GROWTH ETF (BUFG)
SIX MONTHS
ENDED PERIOD
2/28/2023 ENDED
(UNAUDITED) 8/31/2022 (a)
-------------- --------------
Net asset value, beginning of period........................... $ 18.16 $ 20.01
-------- --------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)................................... (0.02) (0.02)
Net realized and unrealized gain (loss)........................ 0.37 (1.83)
-------- --------
Total from investment operations............................... 0.35 (1.85)
-------- --------
Net asset value, end of period................................. $ 18.51 $ 18.16
======== ========
TOTAL RETURN (b)............................................... 1.93% (9.25)%
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in 000's)........................... $150,889 $163,418
RATIOS TO AVERAGE NET ASSETS:
Ratio of total expenses to average net assets (c).............. 0.20% (d) 0.20% (d)
Ratio of net investment income (loss) to average net assets ... (0.20)% (d) (0.20)% (d)
Portfolio turnover rate (e).................................... 255% 411%
(a) Inception date is October 26, 2021, which is consistent with the
commencement of investment operations and is the date the initial creation
units were established.
(b) Total return is calculated assuming an initial investment made at the net
asset value at the beginning of the period, reinvestment of all
distributions at net asset value during the period, and redemption at net
asset value on the last day of the period. The returns presented do not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund shares. Total return is
calculated for the time period presented and is not annualized for periods
of less than a year.
(c) The Fund indirectly bears its proportionate share of fees and expenses
incurred by the underlying funds in which the Fund invests. This ratio
does not include these indirect fees and expenses.
(d) Annualized.
(e) Portfolio turnover is calculated for the time period presented and is not
annualized for periods of less than a year and does not include securities
received or delivered from processing creations or redemptions and in-kind
transactions.
See Notes to Financial Statements Page 119
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
1. ORGANIZATION
First Trust Exchange-Traded Fund VIII (the "Trust") is an open-end management
investment company organized as a Massachusetts business trust on February 22,
2016, and is registered with the Securities and Exchange Commission under the
Investment Company Act of 1940, as amended (the "1940 Act").
The Trust currently consists of fifty-nine funds that are offering shares. This
report covers the twenty-six funds (each a "Fund" and collectively, "the Funds")
listed below. The shares of each Fund are listed and traded on the Cboe BZX
Exchange, Inc. ("Cboe BZX").
FT Cboe Vest U.S. Equity Buffer ETF - January - (ticker "FJAN")
FT Cboe Vest U.S. Equity Deep Buffer ETF - January - (ticker "DJAN")
FT Cboe Vest U.S. Equity Buffer ETF - February - (ticker "FFEB")
FT Cboe Vest U.S. Equity Deep Buffer ETF - February - (ticker "DFEB")
FT Cboe Vest U.S. Equity Buffer ETF - March - (ticker "FMAR")
FT Cboe Vest U.S. Equity Deep Buffer ETF - March - (ticker "DMAR")
FT Cboe Vest U.S. Equity Buffer ETF - April - (ticker "FAPR")
FT Cboe Vest U.S. Equity Deep Buffer ETF - April - (ticker "DAPR")
FT Cboe Vest U.S. Equity Buffer ETF - May - (ticker "FMAY")
FT Cboe Vest U.S. Equity Deep Buffer ETF - May - (ticker "DMAY")
FT Cboe Vest U.S. Equity Buffer ETF - June - (ticker "FJUN")
FT Cboe Vest U.S. Equity Deep Buffer ETF - June - (ticker "DJUN")
FT Cboe Vest U.S. Equity Buffer ETF - July - (ticker "FJUL")
FT Cboe Vest U.S. Equity Deep Buffer ETF - July - (ticker "DJUL")
FT Cboe Vest U.S. Equity Buffer ETF - August - (ticker "FAUG")
FT Cboe Vest U.S. Equity Deep Buffer ETF - August - (ticker "DAUG")
FT Cboe Vest U.S. Equity Buffer ETF - September - (ticker "FSEP")
FT Cboe Vest U.S. Equity Deep Buffer ETF - September - (ticker "DSEP")
FT Cboe Vest U.S. Equity Buffer ETF - October - (ticker "FOCT")
FT Cboe Vest U.S. Equity Deep Buffer ETF - October - (ticker "DOCT")
FT Cboe Vest U.S. Equity Buffer ETF - November - (ticker "FNOV")
FT Cboe Vest U.S. Equity Deep Buffer ETF - November - (ticker "DNOV")
FT Cboe Vest U.S. Equity Buffer ETF - December - (ticker "FDEC")
FT Cboe Vest U.S. Equity Deep Buffer ETF - December - (ticker "DDEC")
FT Cboe Vest Buffered Allocation Defensive ETF - (ticker "BUFT")
FT Cboe Vest Buffered Allocation Growth ETF - (ticker "BUFG")
Each Fund represents a separate series of shares of beneficial interest in the
Trust. Unlike conventional mutual funds, each Fund issues and redeems shares on
a continuous basis, at net asset value ("NAV"), only in large blocks of shares
known as "Creation Units."
Each Fund is an actively managed exchange-traded fund ("ETF").
The investment objective of FJAN is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the SPDR(R) S&P
500(R) ETF Trust (the "Underlying ETF"), up to a predetermined upside cap of
19.04% (before fees, expenses and taxes) and 18.19% (after fees and expenses,
excluding brokerage commissions, trading fees, taxes and extraordinary expenses
not included in the Fund's management fee), while providing a buffer against the
first 10% (before fees, expenses and taxes) of Underlying ETF losses, over the
period from January 23, 2023 to January 19, 2024. Prior to January 23, 2023, the
Fund's investment objective included an upside cap of 14.20% (before fees,
expenses and taxes) and 13.35% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee) and an Outcome Period of January 24, 2022 to January 20,
2023.
The investment objective of DJAN is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 14.70% (before fees, expenses and
taxes) and 13.85% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against Underlying ETF losses between
-5% and -30% (before fees, expenses and taxes) over the period from January 23,
2023 to January 19, 2024. Prior to January 23, 2023, the Fund's investment
objective included an upside cap of 9.03% (before fees, expenses and taxes) and
8.18% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of January 24, 2022 to January 20, 2023.
Page 120
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
The investment objective of FFEB is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 19.25% (before fees, expenses and
taxes) and 18.40% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against the first 10% (before fees,
expenses and taxes) of Underlying ETF losses, over the period from February 21,
2023 to February 16, 2024. Prior to February 21, 2023, the Fund's investment
objective included an upside cap of 14.25% (before fees, expenses and taxes) and
13.40% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of February 22, 2022 to February 17, 2023.
The investment objective of DFEB is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 14.97% (before fees, expenses and
taxes) and 14.12% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against Underlying ETF losses between
-5% and -30% (before fees, expenses and taxes) over the period from February 21,
2023 to February 16, 2024. Prior to February 21, 2023, the Fund's investment
objective included an upside cap of 9.30% (before fees, expenses and taxes) and
8.45% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of February 22, 2022 to February 17, 2023.
The investment objective of FMAR is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 14.78% (before fees and expenses) and
13.93% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee),
while providing a buffer against the first 10% (before fees, expenses and taxes)
of Underlying ETF losses, over the period from March 21, 2022 to March 17, 2023.
Prior to March 21, 2022, the Fund's investment objective included an upside cap
of 14.20% (before fees and expenses) and 13.35% (after fees and expenses,
excluding brokerage commissions, trading fees, taxes and extraordinary expenses
not included in the Fund's management fee) and an Outcome Period of March 22,
2021 to March 18, 2022.
The investment objective of DMAR is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 10.02% (before fees and expenses) and
9.17% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee),
while providing a buffer against Underlying ETF losses between -5% and -30%
(before fees, expenses and taxes) over the period from March 21, 2022 to March
17, 2023. Prior to March 21, 2022, the Fund's investment objective included an
upside cap of 9.30% (before fees and expenses) and 8.45% (after fees and
expenses, excluding brokerage commissions, trading fees, taxes and extraordinary
expenses not included in the Fund's management fee) and an Outcome Period of
March 22, 2021 to March 18, 2022.
The investment objective of FAPR is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 16.35% (before fees and expenses) and
15.48% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee),
while providing a buffer against the first 10% (before fees, expenses and taxes)
of Underlying ETF losses, over the period from April 18, 2022 to April 21, 2023.
Prior to April 18, 2022, the Fund's investment objective included an upside cap
of 12.00% (before fees and expenses) and 11.15% (after fees and expenses,
excluding brokerage commissions, trading fees, taxes and extraordinary expenses
not included in the Fund's management fee) and an Outcome Period of April 19,
2021 to April 14, 2022.
The investment objective of DAPR is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 10.96% (before fees and expenses) and
10.09% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee),
while providing a buffer against Underlying ETF losses between -5% and -30%
(before fees, expenses and taxes) over the period from April 18, 2022 to April
21, 2023. Prior to April 18, 2022, the Fund's investment objective included an
upside cap of 7.50% (before fees and expenses) and 6.65% (after fees and
expenses, excluding brokerage commissions, trading fees, taxes and extraordinary
expenses not included in the Fund's management fee) and an Outcome Period of
April 19, 2021 to April 14, 2022.
The investment objective of FMAY is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 20.45% (before fees, expenses and
taxes) and 19.60% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against the first 10% (before fees,
expenses and taxes) of Underlying ETF losses, over the period from May 23, 2022
to May 19, 2023. Prior to May 23, 2022, the Fund's investment objective included
an upside cap of 12.50% (before fees, expenses and taxes) and 11.65% (after fees
and expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee) and an Outcome
Period of May 24, 2021 to May 20, 2022.
Page 121
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
The investment objective of DMAY is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 13.93% (before fees, expenses and
taxes) and 13.08% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against Underlying ETF losses between
-5% and -30% (before fees, expenses and taxes) over the period from May 23, 2022
to May 19, 2023. Prior to May 23, 2022, the Fund's investment objective included
an upside cap of 7.60% (before fees, expenses and taxes) and 6.75% (after fees
and expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee) and an Outcome
Period of May 24, 2021 to May 20, 2022.
The investment objective of FJUN is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 22.20% (before fees, expenses and
taxes) and 21.35% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against the first 10% (before fees,
expenses and taxes) of Underlying ETF losses, over the period from June 21, 2022
to June 16, 2023. Prior to June 21, 2022, the Fund's investment objective
included an upside cap of 11.70% (before fees, expenses and taxes) and 10.85%
(after fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of June 21, 2021 to June 17, 2022.
The investment objective of DJUN is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 15.59% (before fees, expenses and
taxes) and 14.74% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against Underlying ETF losses between
-5% and -30% (before fees, expenses and taxes) over the period from June 21,
2022 to June 16, 2023. Prior to June 21, 2022, the Fund's investment objective
included an upside cap of 7.06% (before fees, expenses and taxes) and 6.21%
(after fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of June 21, 2021 to June 17, 2022.
The investment objective of FJUL is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 21.30% (before fees, expenses and
taxes) and 20.44% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against the first 10% (before fees,
expenses and taxes) of Underlying ETF losses, over the period from July 18, 2022
to July 21, 2023. Prior to July 18, 2022, the Fund's investment objective
included an upside cap of 11.70% (before fees, expenses and taxes) and 10.85%
(after fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of July 19, 2021 to July 15, 2022.
The investment objective of DJUL is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 15.02% (before fees, expenses and
taxes) and 14.16% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against Underlying ETF losses between
-5% and -30% (before fees, expenses and taxes) over the period from July 18,
2022 to July 21, 2023. Prior to July 18, 2022, the Fund's investment objective
included an upside cap of 7.30% (before fees, expenses and taxes) and 6.45%
(after fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of July 19, 2021 to July 15, 2022.
The investment objective of FAUG is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 20.46% (before fees, expenses and
taxes) and 19.61% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against the first 10% (before fees,
expenses and taxes) of Underlying ETF losses, over the period from August 22,
2022 to August 18, 2023. Prior to August 22, 2022, the Fund's investment
objective included an upside cap of 11.64% (before fees, expenses and taxes) and
10.79% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of August 23, 2021 to August 19, 2022.
The investment objective of DAUG is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 14.47% (before fees, expenses and
taxes) and 13.62% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against Underlying ETF losses between
-5% and -30% (before fees, expenses and taxes) over the period from August 22,
2022 to August 18, 2023. Prior to August 22, 2022, the Fund's investment
objective included an upside cap of 7.37% (before fees, expenses and taxes) and
6.52% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of August 23, 2021 to August 19, 2022.
The investment objective of FSEP is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 23.41% (before fees, expenses and
taxes) and 22.56% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
Page 122
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
management fee), while providing a buffer against the first 10% (before fees,
expenses and taxes) of Underlying ETF losses, over the period from September 19,
2022 to September 15, 2023. Prior to September 19, 2022, the Fund's investment
objective included an upside cap of 12.20% (before fees, expenses and taxes) and
11.35% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of September 20, 2021 to September 16, 2022.
The investment objective of DSEP is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 16.98% (before fees, expenses and
taxes) and 16.13% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against Underlying ETF losses between
-5% and -30% (before fees, expenses and taxes) over the period from September
19, 2022 to September 15, 2023. Prior to September 19, 2022, the Fund's
investment objective included an upside cap of 7.43% (before fees, expenses and
taxes) and 6.58% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee) and an Outcome Period of September 20, 2021 to September 16,
2022.
The investment objective of FOCT is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 27.12% (before fees, expenses and
taxes) and 26.27% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against the first 10% (before fees,
expenses and taxes) of Underlying ETF losses, over the period from October 24,
2022 to October 20, 2023. Prior to October 24, 2022, the Fund's investment
objective included an upside cap of 11.70% (before fees, expenses and taxes) and
10.84% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of October 18, 2021 to October 21, 2022.
The investment objective of DOCT is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 19.20% (before fees, expenses and
taxes) and 18.35% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against Underlying ETF losses between
-5% and -30% (before fees, expenses and taxes) over the period from October 24,
2022 to October 20, 2023. Prior to October 24, 2022, the Fund's investment
objective included an upside cap of 7.22% (before fees, expenses and taxes) and
6.36% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of October 18, 2021 to October 21, 2022.
The investment objective of FNOV is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price of the Underlying ETF, up
to a predetermined upside cap of 23.77% (before fees, expenses and taxes) and
22.92% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee),
while providing a buffer against the first 10% (before fees, expenses and taxes)
of Underlying ETF losses, over the period from November 21, 2022 to November 17,
2023. Prior to November 21, 2022, the Fund's investment objective included an
upside cap of 12.10% (before fees, expenses and taxes) and 11.25% (after fees
and expenses, excluding brokerage commissions, trading fees, taxes and
extraordinary expenses not included in the Fund's management fee) and an Outcome
Period of November 22, 2021 to November 18, 2022.
The investment objective of DNOV is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price of the Underlying ETF, up
to a predetermined upside cap of 17.19% (before fees, expenses and taxes) and
16.34% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee),
while providing a buffer against Underlying ETF losses between -5% and -30%
(before fees, expenses and taxes) over the period from November 21, 2022 to
November 17, 2023. Prior to November 21, 2022, the Fund's investment objective
included an upside cap of 7.60% (before fees, expenses and taxes) and 6.75%
(after fees and expenses, excluding brokerage commissions, trading fees, taxes
and extraordinary expenses not included in the Fund's management fee) and an
Outcome Period of November 22, 2021 to November 18, 2022.
The investment objective of FDEC is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 23.10% (before fees, expenses and
taxes) and 22.25% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against the first 10% (before fees,
expenses and taxes) of Underlying ETF losses, over the period from December 19,
2022 to December 15, 2023. Prior to December 19, 2022, the Fund's investment
objective included an upside cap of 13.10% (before fees, expenses and taxes) and
12.25% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of December 20, 2021 to December 16, 2022.
Page 123
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
The investment objective of DDEC is to seek to provide investors with returns
(before fees, expenses and taxes) that match the price return of the Underlying
ETF, up to a predetermined upside cap of 16.68% (before fees, expenses and
taxes) and 15.83% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee), while providing a buffer against Underlying ETF losses between
-5% and -30% (before fees, expenses and taxes) over the period from December 19,
2022 to December 15, 2023. Prior to December 19, 2022, the Fund's investment
objective included an upside cap of 8.10% (before fees, expenses and taxes) and
7.25% (after fees and expenses, excluding brokerage commissions, trading fees,
taxes and extraordinary expenses not included in the Fund's management fee) and
an Outcome Period of December 20, 2021 to December 16, 2022.
Under normal market conditions, each Fund, except BUFT and BUFG, will invest
substantially all of its assets in FLexible EXchange(R) Options ("FLEX Options")
that reference the price performance of the Underlying ETF.
The investment objective of BUFT is to seek to provide investors with capital
preservation. BUFT seeks to achieve its investment objective by investing in a
portfolio of ETFs that seek to provide investors with returns (before fees and
expenses) based on the price return of the SPDR(R) S&P 500(R) ETF Trust ("SPY"),
up to a predetermined cap, while providing a defined buffer against losses of
SPY over a defined one-year period ("SPY Underlying ETFs"). Under normal market
conditions, BUFT will invest substantially all of its assets in SPY Underlying
ETFs. Unlike the SPY Underlying ETFs, BUFT itself does not pursue a defined
outcome strategy. The buffer is only provided by the SPY Underlying ETFs and
BUFT itself does not provide any stated buffer against losses. In order to
understand BUFT's strategy and risks, it is important to understand the
strategies and risks of the SPY Underlying ETFs.
The investment objective of BUFG is to seek to provide investors with capital
appreciation. BUFG seeks to achieve its investment objective by investing in a
portfolio of ETFs that seek to provide investors with returns (before fees and
expenses) based on the price return of the SPY, up to a predetermined cap, while
providing a defined buffer against losses of SPY over a defined one-year period.
Under normal market conditions, BUFG will invest substantially all of its assets
in SPY Underlying ETFs. Unlike the SPY Underlying ETFs, BUFG itself does not
pursue a defined outcome strategy. The buffer is only provided by the SPY
Underlying ETFs and BUFG itself does not provide any stated buffer against
losses. In order to understand BUFG's strategy and risks, it is important to
understand the strategies and risks of the SPY Underlying ETFs.
2. SIGNIFICANT ACCOUNTING POLICIES
The Funds are each considered an investment company and follow accounting and
reporting guidance under Financial Accounting Standards Board Accounting
Standards Codification Topic 946, "Financial Services-Investment Companies." The
following is a summary of significant accounting policies consistently followed
by the Funds in the preparation of the financial statements. The preparation of
the financial statements in accordance with accounting principles generally
accepted in the United States of America ("U.S. GAAP") requires management to
make estimates and assumptions that affect the reported amounts and disclosures
in the financial statements. Actual results could differ from those estimates.
A. PORTFOLIO VALUATION
Each Fund's NAV is determined daily as of the close of regular trading on the
New York Stock Exchange ("NYSE"), normally 4:00 p.m. Eastern time, on each day
the NYSE is open for trading. If the NYSE closes early on a valuation day, the
NAV is determined as of that time. Each Fund's NAV is calculated by dividing the
value of all assets of the Fund (including accrued interest and dividends), less
all liabilities (including accrued expenses and dividends declared but unpaid),
by the total number of shares outstanding.
Each Fund's investments are valued daily at market value or, in the absence of
market value with respect to any portfolio securities, at fair value. Market
value prices represent readily available market quotations such as last sale or
official closing prices from a national or foreign exchange (i.e., a regulated
market) and are primarily obtained from third-party pricing services. Fair value
prices represent any prices not considered market value prices and are either
obtained from a third-party pricing service or are determined by the Pricing
Committee of the Funds' investment advisor, First Trust Advisors L.P. ("First
Trust" or the "Advisor"), in accordance with valuation procedures approved by
the Trust's Board of Trustees, and in accordance with provisions of the 1940 Act
and rules thereunder. Investments valued by the Advisor's Pricing Committee, if
any, are footnoted as such in the footnotes to the Portfolio of Investments.
Each Fund's investments are valued as follows:
Exchange-traded options contracts (other than FLEX Option contracts) are
valued at the closing price in the market where such contracts are
principally traded. If no closing price is available, exchange-traded
options contracts are valued at the mean of their most recent bid and
asked price, if available, and otherwise at their closing bid price.
Over-the-counter options contracts are valued at the mean of their most
recent bid and asked price, if available, and otherwise at their closing
bid price. FLEX Option contracts are normally valued using a model-based
price provided by a third-party pricing vendor. On days when a trade in a
FLEX Option contract occurs, the trade price will be used to value such
FLEX Option contracts in lieu of the model price.
Page 124
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
Common stocks and other equity securities listed on any national or
foreign exchange (excluding The Nasdaq Stock Market LLC ("Nasdaq") and the
London Stock Exchange Alternative Investment Market ("AIM")) are valued at
the last sale price on the exchange on which they are principally traded
or, for Nasdaq and AIM securities, the official closing price. Securities
traded on more than one securities exchange are valued at the last sale
price or official closing price, as applicable, at the close of the
securities exchange representing the primary exchange for such securities.
Shares of open-end funds are valued based on NAV per share.
Certain securities may not be able to be priced by pre-established pricing
methods. Such securities may be valued by the Advisor's Pricing Committee at
fair value. These securities generally include, but are not limited to,
restricted securities (securities which may not be publicly sold without
registration under the Securities Act of 1933, as amended) for which a
third-party pricing service is unable to provide a market price; securities
whose trading has been formally suspended; a security whose market or fair value
price is not available from a pre-established pricing source; a security with
respect to which an event has occurred that is likely to materially affect the
value of the security after the market has closed but before the calculation of
a Fund's NAV or make it difficult or impossible to obtain a reliable market
quotation; and a security whose price, as provided by the third-party pricing
service, does not reflect the security's fair value. As a general principle, the
current fair value of a security would appear to be the amount which the owner
might reasonably expect to receive for the security upon its current sale. When
fair value prices are used, generally they will differ from market quotations or
official closing prices on the applicable exchanges. A variety of factors may be
considered in determining the fair value of such securities, including, but not
limited to, the following:
1) the last sale price on the exchange on which they are principally
traded or, for Nasdaq and AIM securities, the official closing
price;
2) the type of security;
3) the size of the holding;
4) the initial cost of the security;
5) transactions in comparable securities;
6) price quotes from dealers and/or third-party pricing services;
7) relationships among various securities;
8) information obtained by contacting the issuer, analysts, or the
appropriate stock exchange;
9) an analysis of the issuer's financial statements;
10) the existence of merger proposals or tender offers that might affect
the value of the security;
11) and other relevant factors.
The Funds are subject to fair value accounting standards that define fair value,
establish the framework for measuring fair value and provide a three-level
hierarchy for fair valuation based upon the inputs to the valuation as of the
measurement date. The three levels of the fair value hierarchy are as follows:
o Level 1 - Level 1 inputs are quoted prices in active markets for
identical investments. An active market is a market in which
transactions for the investment occur with sufficient frequency and
volume to provide pricing information on an ongoing basis.
o Level 2 - Level 2 inputs are observable inputs, either directly or
indirectly, and include the following:
o Quoted prices for similar investments in active markets.
o Quoted prices for identical or similar investments in markets
that are non-active. A non-active market is a market where
there are few transactions for the investment, the prices are
not current, or price quotations vary substantially either
over time or among market makers, or in which little
information is released publicly.
o Inputs other than quoted prices that are observable for the
investment (for example, interest rates and yield curves
observable at commonly quoted intervals, volatilities,
prepayment speeds, loss severities, credit risks, and default
rates).
o Inputs that are derived principally from or corroborated by
observable market data by correlation or other means.
o Level 3 - Level 3 inputs are unobservable inputs. Unobservable
inputs may reflect the reporting entity's own assumptions about the
assumptions that market participants would use in pricing the
investment.
The inputs or methodologies used for valuing investments are not necessarily an
indication of the risk associated with investing in those investments. A summary
of the inputs used to value each Fund's investments as of February 28, 2023, is
included with each Fund's Portfolio of Investments.
B. SECURITIES TRANSACTIONS AND INVESTMENT INCOME
Securities transactions are recorded as of the trade date. Realized gains and
losses from securities transactions are recorded on the identified cost basis.
Dividend income is recorded on the ex-dividend date. Negative dividend amount,
if any, represents charges by broker on excess cash held in the account.
Page 125
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
C. FLEX OPTIONS
FLEX Options are customized equity or index option contracts that trade on an
exchange but provide investors with the ability to customize key contract terms
like exercise prices, styles and expiration dates. FLEX Options are guaranteed
for settlement by the Options Clearing Corporation.
Each Fund, with the exception of BUFT and BUFG, purchases and sells call and put
FLEX Options based on the performance of the Underlying ETF. The FLEX Options
that each Fund holds that reference the Underlying ETF will give each Fund the
right to receive or deliver shares of the Underlying ETF on the option
expiration date at a strike price, depending on whether the option is a put or
call option and whether each Fund purchases or sells the option. The FLEX
Options held by each Fund are European style options, which are exercisable at
the strike price only on the FLEX Option expiration date. All options held by
each Fund at February 28, 2023 are FLEX Options.
D. AFFILIATED TRANSACTIONS
BUFT and BUFG invest in securities of affiliated funds. Each Fund's investment
performance and risks are directly related to the investment performance and
risks of the affiliated funds. Dividend income, if any, realized gains and
losses, and change in appreciation (depreciation) from affiliated funds are
presented on the Statements of Operations.
Amounts related to these investments in BUFT at February 28, 2023 and for the
six months then ended are as follows:
CHANGE IN
UNREALIZED REALIZED
SHARES AT VALUE AT APPRECIATION GAIN VALUE AT DIVIDEND
SECURITY NAME 2/28/2023 8/31/2022 PURCHASES SALES (DEPRECIATION) (LOSS) 2/28/2023 INCOME
-----------------------------------------------------------------------------------------------------------------------------------
FT Cboe Vest U.S.
Equity Deep Buffer
ETF - January 818,574 $ -- $ 63,148,991 $ (38,163,000) $ 31,743 $ (67,599) $ 24,950,135 $ --
FT Cboe Vest U.S.
Equity Deep Buffer
ETF - February 704,350 -- 54,792,540 (31,468,233) (112,696) (52,583) 23,159,028 --
FT Cboe Vest U.S.
Equity Deep Buffer
ETF - March -- -- 40,011,338 (40,054,465) -- 43,127 -- --
FT Cboe Vest U.S.
Equity Deep Buffer
ETF - April 915,301 -- 31,060,604 (4,010,025) (6,548) 16,111 27,060,142 --
FT Cboe Vest U.S.
Equity Deep Buffer
ETF - May -- 27,695,088 30,220,945 (58,176,928) 561,439 (300,544) -- --
FT Cboe Vest U.S.
Equity Deep Buffer
ETF - June 678,694 33,229,031 10,055,926 (21,325,870) 429,861 166,225 22,555,173 --
FT Cboe Vest U.S.
Equity Deep Buffer
ETF - July -- 28,339,734 5,544,834 (33,881,133) 557,155 (560,590) -- --
FT Cboe Vest U.S.
Equity Deep Buffer
ETF - October -- -- 31,956,460 (31,504,297) -- (452,163) -- --
FT Cboe Vest U.S.
Equity Deep Buffer
ETF - November -- 36,265,081 37,699,934 (73,636,580) 26,079 (354,514) -- --
FT Cboe Vest U.S.
Equity Deep Buffer
ETF - December 779,262 29,300,856 42,238,344 (47,744,061) 506,716 151,387 24,453,242 --
------------------------------------------------------------------------------------------------
$154,829,790 $346,729,916 $(379,964,592) $ 1,993,749 $(1,411,143) $122,177,720 $ --
================================================================================================
Page 126
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
Amounts related to these investments in BUFG at February 28, 2023 and for the
six months then ended are as follows:
CHANGE IN
UNREALIZED REALIZED
SHARES AT VALUE AT APPRECIATION GAIN VALUE AT DIVIDEND
SECURITY NAME 2/28/2023 8/31/2022 PURCHASES SALES (DEPRECIATION) (LOSS) 2/28/2023 INCOME
-----------------------------------------------------------------------------------------------------------------------------------
FT Cboe Vest U.S.
Equity Buffer
ETF - January -- $ 30,494,147 $ 73,429,556 $(105,272,784) $ 868,883 $ 480,198 $ -- $ --
FT Cboe Vest U.S.
Equity Buffer
ETF - February 867,302 31,696,575 61,188,306 (61,163,642) 968,919 (1,069,194) 31,620,964 --
FT Cboe Vest U.S.
Equity Buffer
ETF - March 979,980 32,415,210 70,675,719 (72,238,680) 966,739 146,784 31,965,772 --
FT Cboe Vest U.S.
Equity Buffer
ETF - April -- 34,030,426 12,398,410 (46,292,956) 87,382 (223,262) -- --
FT Cboe Vest U.S.
Equity Buffer
ETF - May -- -- 27,587,050 (26,881,554) -- (705,496) -- --
FT Cboe Vest U.S.
Equity Buffer
ETF - August 835,558 34,782,628 34,418,560 (38,400,686) (461,941) (539,304) 29,799,257 --
FT Cboe Vest U.S.
Equity Buffer
ETF - September 771,404 -- 30,407,965 (3,906,549) 46,592 19,454 26,567,462 --
FT Cboe Vest U.S.
Equity Buffer
ETF - October -- -- 35,534,534 (35,526,482) -- (8,052) -- --
FT Cboe Vest U.S.
Equity Buffer
ETF - November 840,977 -- 79,039,701 (50,384,048) 1,132,226 941,420 30,729,299 --
FT Cboe Vest U.S.
Equity Buffer
ETF - December -- -- 52,295,996 (52,803,576) -- 507,580 -- --
------------------------------------------------------------------------------------------------
$163,418,986 $476,975,797 $(492,870,957) $ 3,608,800 $ (449,872) $150,682,754 $ --
================================================================================================
E. DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS
Dividends from net investment income of each Fund, if any, are declared and paid
annually, with the exception of BUFT and BUFG which are declared and paid
quarterly, or as the Board of Trustees may determine from time to time.
Distributions of net realized gains earned by each Fund, if any, are distributed
at least annually.
Distributions from net investment income and realized capital gains are
determined in accordance with federal income tax regulations, which may differ
from U.S. GAAP. Certain capital accounts in the financial statements are
periodically adjusted for permanent differences in order to reflect their tax
character. These permanent differences are primarily due to the varying
treatment of income and gain/loss on significantly modified portfolio securities
held by the Funds and have no impact on net assets or NAV per share. Temporary
differences, which arise from recognizing certain items of income, expense and
gain/loss in different periods for financial statement and tax purposes, will
reverse at some time in the future. During their applicable taxable periods,
none of the Funds paid a distribution in 2022.
Page 127
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
As of the applicable taxable year end, the components of distributable earnings
on a tax basis for each Fund were as follows:
Accumulated Net
Undistributed Capital and Unrealized
Taxable Ordinary Other Gain Appreciation
Year End Income (Loss) (Depreciation)
------------- ------------- ------------- --------------
FT Cboe Vest U.S. Equity Buffer ETF - January 31-Jan-22 $ (113,056) $ (15,497,262) $ 4,128,224
FT Cboe Vest U.S. Equity Deep Buffer ETF - January 31-Jan-22 (44,122) (5,006,751) 635,400
FT Cboe Vest U.S. Equity Buffer ETF - February 28-Feb-22 (335,864) (30,356,328) 984,142
FT Cboe Vest U.S. Equity Deep Buffer ETF - February 28-Feb-22 (342,052) (25,392,305) 395,740
FT Cboe Vest U.S. Equity Buffer ETF - March 31-Mar-22 (209,934) -- 1,338,253
FT Cboe Vest U.S. Equity Deep Buffer ETF - March 31-Mar-22 (193,187) (5,303,110) 599,452
FT Cboe Vest U.S. Equity Buffer ETF - April 30-Apr-22 (431,763) (16,407,792) (7,138,172)
FT Cboe Vest U.S. Equity Deep Buffer ETF - April 30-Apr-22 (266,079) (6,121,884) (3,248,145)
FT Cboe Vest U.S. Equity Buffer ETF - May 31-May-22 (481,257) (25,588,792) 9,273,448
FT Cboe Vest U.S. Equity Deep Buffer ETF - May 31-May-22 (321,459) (14,162,654) 3,263,795
FT Cboe Vest U.S. Equity Buffer ETF - June 30-Jun-22 (537,815) (26,423,868) 3,048,407
FT Cboe Vest U.S. Equity Deep Buffer ETF - June 30-Jun-22 (373,396) (16,876,921) 981,036
FT Cboe Vest U.S. Equity Buffer ETF - July 31-Jul-22 (763,527) (14,357,861) 8,661,196
FT Cboe Vest U.S. Equity Deep Buffer ETF - July 31-Jul-22 (382,679) (7,649,376) 3,820,154
FT Cboe Vest U.S. Equity Buffer ETF - August 31-Aug-22 (1,180,725) (34,453,622) (12,013,653)
FT Cboe Vest U.S. Equity Deep Buffer ETF - August 31-Aug-22 (843,218) (24,672,642) (4,316,681)
FT Cboe Vest U.S. Equity Buffer ETF - September 30-Sep-21 (190,914) (1,636,302) (536,323)
FT Cboe Vest U.S. Equity Deep Buffer ETF - September 30-Sep-21 (152,862) (505,434) (301,100)
FT Cboe Vest U.S. Equity Buffer ETF - October 31-Oct-21 (460,448) (6,876,924) 1,823,307
FT Cboe Vest U.S. Equity Deep Buffer ETF - October 31-Oct-21 (269,814) (3,105,136) 650,888
FT Cboe Vest U.S. Equity Buffer ETF - November 30-Nov-21 (1,357,803) (23,533,670) (4,236,888)
FT Cboe Vest U.S. Equity Deep Buffer ETF - November 30-Nov-21 (739,974) (9,691,342) (1,254,397)
FT Cboe Vest U.S. Equity Buffer ETF - December 31-Dec-21 -- (5,909,553) 2,475,112
FT Cboe Vest U.S. Equity Deep Buffer ETF - December 31-Dec-21 -- (7,120,867) 976,931
FT Cboe Vest Buffered Allocation Defensive ETF 31-Aug-22 (145,364) (5,394,632) (2,457,143)
FT Cboe Vest Buffered Allocation Growth ETF 31-Aug-22 (185,676) (5,105,775) (8,213,042)
F. INCOME TAXES
Each Fund intends to continue to qualify as a regulated investment company by
complying with the requirements under Subchapter M of the Internal Revenue Code
of 1986, as amended, which includes distributing substantially all of its net
investment income and net realized gains to shareholders. Accordingly, no
provision has been made for federal and state income taxes. However, due to the
timing and amount of distributions, each Fund may be subject to an excise tax of
4% of the amount by which approximately 98% of each Fund's taxable income
exceeds the distributions from such taxable income for the calendar year.
The Funds are subject to accounting standards that establish a minimum threshold
for recognizing, and a system for measuring, the benefits of a tax position
taken or expected to be taken in a tax return. For FFEB, DFEB, FMAY, DMAY, FJUN,
DJUN, FJUL, DJUL, FAUG, DAUG, FNOV, and DNOV, the taxable years ended 2020,
2021, and 2022 remain open to federal and state audit. For FJAN, DJAN, FMAR,
DMAR, FAPR, DAPR, FSEP, DSEP, FOCT, DOCT, FDEC, and DDEC, the taxable years
ended 2021 and 2022 remain open to federal and state audit. For BUFT and BUFG,
the taxable year ended 2022 remains open to federal and state audit. As of
February 28, 2023, management has evaluated the application of these standards
to the Funds and has determined that no provision for income tax is required in
the Funds' financial statements for uncertain tax positions.
Page 128
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
Each Fund intends to utilize provisions of the federal income tax laws, which
allow it to carry a realized capital loss forward indefinitely following the
year of the loss and offset such loss against any future realized capital gains.
Each Fund is subject to certain limitations under U.S. tax rules on the use of
capital loss carryforwards and net unrealized built-in losses. These limitations
apply when there has been a 50% change in ownership. At each Fund's applicable
taxable year end, for federal income tax purposes, the Funds had a capital loss
carryforward available that is shown in the table below, to the extent provided
by regulations, to offset future capital gains. To the extent that these loss
carryforwards are used to offset future capital gains, it is probable that the
capital gains so offset will not be distributed to the Funds' shareholders.
Non-Expiring
Taxable Capital Loss
Year End Carryforward
------------------- ------------------
FT Cboe Vest U.S. Equity Buffer ETF - January 31-Jan-22 $ 15,497,262
FT Cboe Vest U.S. Equity Deep Buffer ETF - January 31-Jan-22 5,006,751
FT Cboe Vest U.S. Equity Buffer ETF - February 28-Feb-22 30,356,328
FT Cboe Vest U.S. Equity Deep Buffer ETF - February 28-Feb-22 25,392,305
FT Cboe Vest U.S. Equity Buffer ETF - March 31-Mar-22 --
FT Cboe Vest U.S. Equity Deep Buffer ETF - March 31-Mar-22 5,303,110
FT Cboe Vest U.S. Equity Buffer ETF - April 30-Apr-22 16,407,792
FT Cboe Vest U.S. Equity Deep Buffer ETF - April 30-Apr-22 6,121,884
FT Cboe Vest U.S. Equity Buffer ETF - May 31-May-22 25,588,792
FT Cboe Vest U.S. Equity Deep Buffer ETF - May 31-May-22 14,162,654
FT Cboe Vest U.S. Equity Buffer ETF - June 30-Jun-22 26,423,868
FT Cboe Vest U.S. Equity Deep Buffer ETF - June 30-Jun-22 16,876,921
FT Cboe Vest U.S. Equity Buffer ETF - July 31-Jul-22 14,357,861
FT Cboe Vest U.S. Equity Deep Buffer ETF - July 31-Jul-22 7,649,376
FT Cboe Vest U.S. Equity Buffer ETF - August 31-Aug-22 34,453,622
FT Cboe Vest U.S. Equity Deep Buffer ETF - August 31-Aug-22 24,672,642
FT Cboe Vest U.S. Equity Buffer ETF - September 30-Sep-21 1,636,302
FT Cboe Vest U.S. Equity Deep Buffer ETF - September 30-Sep-21 505,434
FT Cboe Vest U.S. Equity Buffer ETF - October 31-Oct-21 6,876,924
FT Cboe Vest U.S. Equity Deep Buffer ETF - October 31-Oct-21 3,105,136
FT Cboe Vest U.S. Equity Buffer ETF - November 30-Nov-21 23,533,670
FT Cboe Vest U.S. Equity Deep Buffer ETF - November 30-Nov-21 9,691,342
FT Cboe Vest U.S. Equity Buffer ETF - December 31-Dec-21 5,909,553
FT Cboe Vest U.S. Equity Deep Buffer ETF - December 31-Dec-21 7,120,867
FT Cboe Vest Buffered Allocation Defensive ETF 31-Aug-22 5,394,632
FT Cboe Vest Buffered Allocation Growth ETF 31-Aug-22 5,105,775
During the applicable taxable year end, the Fund listed below utilized
non-expiring capital loss carryforwards in the following amount:
Capital Loss
Carryforward
Utilized
-------------------
FT Cboe Vest U.S. Equity Deep Buffer ETF - February $ 17,964,075
Page 129
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
Certain losses realized during the current taxable year may be deferred and
treated as occurring on the first day of the following taxable year for federal
income tax purposes. At each Fund's applicable taxable year end, the Funds
listed below incurred and elected to defer net late year ordinary or capital
losses as follows:
Qualified Late Year Losses
Taxable --------------------------------------------
Year End Ordinary Losses Capital Losses
------------------- ------------------ ------------------
FT Cboe Vest U.S. Equity Buffer ETF - January 31-Jan-22 $ 113,056 $ --
FT Cboe Vest U.S. Equity Deep Buffer ETF - January 31-Jan-22 44,122 --
FT Cboe Vest U.S. Equity Buffer ETF - February 28-Feb-22 335,864 --
FT Cboe Vest U.S. Equity Deep Buffer ETF - February 28-Feb-22 342,052 --
FT Cboe Vest U.S. Equity Buffer ETF - March 31-Mar-22 209,934 --
FT Cboe Vest U.S. Equity Deep Buffer ETF - March 31-Mar-22 193,187 --
FT Cboe Vest U.S. Equity Buffer ETF - April 30-Apr-22 431,763 --
FT Cboe Vest U.S. Equity Deep Buffer ETF - April 30-Apr-22 266,079 --
FT Cboe Vest U.S. Equity Buffer ETF - May 31-May-22 481,257 --
FT Cboe Vest U.S. Equity Deep Buffer ETF - May 31-May-22 321,459 --
FT Cboe Vest U.S. Equity Buffer ETF - June 30-Jun-22 537,815 --
FT Cboe Vest U.S. Equity Deep Buffer ETF - June 30-Jun-22 373,396 --
FT Cboe Vest U.S. Equity Buffer ETF - July 31-Jul-22 763,527 --
FT Cboe Vest U.S. Equity Deep Buffer ETF - July 31-Jul-22 382,679 --
FT Cboe Vest U.S. Equity Buffer ETF - August 31-Aug-22 1,180,725 --
FT Cboe Vest U.S. Equity Deep Buffer ETF - August 31-Aug-22 843,218 --
FT Cboe Vest U.S. Equity Buffer ETF - September 30-Sep-21 190,914 --
FT Cboe Vest U.S. Equity Deep Buffer ETF - September 30-Sep-21 152,862 --
FT Cboe Vest U.S. Equity Buffer ETF - October 31-Oct-21 460,448 --
FT Cboe Vest U.S. Equity Deep Buffer ETF - October 31-Oct-21 269,814 --
FT Cboe Vest U.S. Equity Buffer ETF - November 30-Nov-21 1,357,803 --
FT Cboe Vest U.S. Equity Deep Buffer ETF - November 30-Nov-21 739,974 --
FT Cboe Vest U.S. Equity Buffer ETF - December 31-Dec-21 -- --
FT Cboe Vest U.S. Equity Deep Buffer ETF - December 31-Dec-21 -- --
FT Cboe Vest Buffered Allocation Defensive ETF 31-Aug-22 145,364 --
FT Cboe Vest Buffered Allocation Growth ETF 31-Aug-22 185,676 --
Page 130
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
As of February 28, 2023, the aggregate cost, gross unrealized appreciation,
gross unrealized depreciation, and net unrealized appreciation/(depreciation) on
investments (including short positions and derivatives, if any) for federal
income tax purposes were as follows:
Net
Gross Gross Unrealized
Unrealized Unrealized Appreciation
Tax Cost Appreciation (Depreciation) (Depreciation)
-------------- -------------- -------------- --------------
FT Cboe Vest U.S. Equity Buffer ETF - January $ 248,897,007 $ 1,890,123 $ (2,413,683) $ (523,560)
FT Cboe Vest U.S. Equity Deep Buffer ETF - January 204,505,695 1,449,280 (1,702,386) (253,106)
FT Cboe Vest U.S. Equity Buffer ETF - February 326,074,363 3,569,990 (8,444,408) (4,874,418)
FT Cboe Vest U.S. Equity Deep Buffer ETF - February 262,407,365 3,037,741 (6,313,199) (3,275,458)
FT Cboe Vest U.S. Equity Buffer ETF - March 209,921,700 9,614,113 (15,426,829) (5,812,716)
FT Cboe Vest U.S. Equity Deep Buffer ETF - March 239,229,055 2,365,290 (23,052,153) (20,686,863)
FT Cboe Vest U.S. Equity Buffer ETF - April 255,034,420 10,741,305 (17,882,734) (7,141,429)
FT Cboe Vest U.S. Equity Deep Buffer ETF - April 329,952,220 9,473,253 (21,037,767) (11,564,514)
FT Cboe Vest U.S. Equity Buffer ETF - May 326,195,022 19,512,550 (20,155,411) (642,861)
FT Cboe Vest U.S. Equity Deep Buffer ETF - May 149,007,557 5,530,926 (9,822,712) (4,291,786)
FT Cboe Vest U.S. Equity Buffer ETF - June 264,175,376 32,947,754 (17,534,578) 15,413,176
FT Cboe Vest U.S. Equity Deep Buffer ETF - June 157,468,343 16,260,390 (9,262,957) 6,997,433
FT Cboe Vest U.S. Equity Buffer ETF - July 217,592,734 15,829,819 (9,963,401) 5,866,418
FT Cboe Vest U.S. Equity Deep Buffer ETF - July 147,185,150 6,667,533 (6,239,397) 428,136
FT Cboe Vest U.S. Equity Buffer ETF - August 341,076,229 14,088,778 (22,757,194) (8,668,416)
FT Cboe Vest U.S. Equity Deep Buffer ETF - August 450,686,657 12,167,217 (14,624,082) (2,456,865)
FT Cboe Vest U.S. Equity Buffer ETF - September 291,388,654 17,606,560 (7,096,634) 10,509,926
FT Cboe Vest U.S. Equity Deep Buffer ETF - September 194,956,167 14,554,019 (9,131,779) 5,422,240
FT Cboe Vest U.S. Equity Buffer ETF - October 279,916,930 28,986,179 (12,924,590) 16,061,589
FT Cboe Vest U.S. Equity Deep Buffer ETF - October 186,543,137 13,798,133 (7,522,115) 6,276,018
FT Cboe Vest U.S. Equity Buffer ETF - November 385,831,169 14,478,418 (9,734,477) 4,743,941
FT Cboe Vest U.S. Equity Deep Buffer ETF - November 295,254,235 10,867,436 (7,319,612) 3,547,824
FT Cboe Vest U.S. Equity Buffer ETF - December 227,813,700 7,313,220 (2,344,330) 4,968,890
FT Cboe Vest U.S. Equity Deep Buffer ETF - December 315,830,418 11,772,321 (5,363,736) 6,408,585
FT Cboe Vest Buffered Allocation Defensive ETF 121,114,141 1,429,653 (119,245) 1,310,408
FT Cboe Vest Buffered Allocation Growth ETF 148,973,266 2,123,096 (183,152) 1,939,944
G. EXPENSES
Expenses, other than the investment advisory fee and other excluded expenses,
are paid by the Advisor (see Note 3).
3. INVESTMENT ADVISORY FEE, AFFILIATED TRANSACTIONS AND OTHER FEE ARRANGEMENTS
First Trust, the investment advisor to the Funds, is a limited partnership with
one limited partner, Grace Partners of DuPage L.P., and one general partner, The
Charger Corporation. The Charger Corporation is an Illinois corporation
controlled by James A. Bowen, Chief Executive Officer of First Trust. First
Trust is responsible for the ongoing monitoring of the securities in each Fund's
portfolio, managing the Funds' business affairs and providing certain
administrative services necessary for the management of the Funds.
First Trust is paid an annual unitary management fee based on a percentage of
each Fund's average daily net assets. In addition, BUFT and BUFG incur pro rata
share of fees and expenses attributable to investments in other investment
companies ("acquired fund fees and expenses"). The total of the unitary
management fee and acquired fund fees and expenses represents each Fund's total
Page 131
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
annual operating expenses. Effective November 1, 2022, the annual unitary
management fee payable by each Fund, with the exception of BUFT and BUFG, to
First Trust for these services will be reduced at certain levels of each Fund's
net assets ("breakpoints") and calculated pursuant to the schedule below:
Breakpoints
-------------------------------------------------------------------------
Fund net assets up to and including $2.5 billion 0.85000%
Fund net assets greater than $2.5 billion up to and including $5 billion 0.82875%
Fund net assets greater than $5 billion up to and including $7.5 billion 0.80750%
Fund net assets greater than $7.5 billion up to and including $10 billion 0.78625%
Fund net assets greater than $10 billion 0.76500%
For BUFT and BUFG, the annual unitary management fee payable by each Fund will
be calculated pursuant to the schedule below:
Breakpoints
-------------------------------------------------------------------------
Fund net assets up to and including $2.5 billion 0.200%
Fund net assets greater than $2.5 billion up to and including $5 billion 0.195%
Fund net assets greater than $5 billion up to and including $7.5 billion 0.190%
Fund net assets greater than $7.5 billion up to and including $10 billion 0.185%
Fund net assets greater than $10 billion up to and including $15 billion 0.180%
Fund net assets greater than $15 billion 0.170%
Prior to November 1, 2022, First Trust was paid an annual unitary management fee
of 0.85% of each Fund's average daily net assets with the exception of BUFT and
BUFG which paid an annual unitary management fee of 0.20%.
First Trust is responsible for each Fund's expenses, including the cost of
transfer agency, sub-advisory, custody, fund administration, legal, audit and
other services, but excluding fee payments under the Investment Management
Agreement, interest, taxes, acquired fund fees and expenses, if any, brokerage
commissions and other expenses connected with the execution of portfolio
transactions, distribution and service fees payable pursuant to a Rule 12b-1
plan, if any, and extraordinary expenses.
Cboe Vest(SM) Financial LLC ("Cboe Vest"), an affiliate of First Trust, serves
as the Funds' sub-advisor and manages each Fund's portfolio subject to First
Trust's supervision. Pursuant to the Investment Management Agreement, between
the Trust, on behalf of the Funds, and the Advisor, and the Investment
Sub-Advisory Agreement among the Trust, on behalf of the Funds (other than BUFT
and BUFG), the Advisor and Cboe Vest, First Trust will supervise Cboe Vest and
its management of the investment of each Fund's assets and will pay Cboe Vest
for its services as the Funds' sub-advisor a sub-advisory fee equal to 50% of
any remaining monthly unitary management fee paid to the Advisor after the
average Fund's expenses accrued during the most recent twelve months (or shorter
period during the first eleven months of the Investment Sub-Advisory Agreement)
are subtracted from the unitary management fee for that month. Pursuant to the
Investment Management Agreement, between the Trust, on behalf of the Funds, and
the Advisor, and the Investment Sub-Advisory Agreement among the Trust, on
behalf of BUFT and BUFG, the Advisor and Cboe Vest, First Trust will supervise
Cboe Vest and its management of the investment of each Fund's assets and will
pay Cboe Vest for its services as the Funds' sub-advisor a sub-advisory fee
equal to 50% of the monthly unitary management fee paid to the Advisor, less
Cboe Vest's 50% share of each of BUFT and BUFG's expenses for that month. During
any period in which the Advisor's management fee is reduced in accordance with
the breakpoints described above, the investment sub-advisory fee (which is based
on the Advisor's management fee) paid to Cboe Vest will be reduced to reflect
the reduction in the advisor's management fee.
The Trust has multiple service agreements with The Bank of New York Mellon
("BNYM"). Under the service agreements, BNYM performs custodial, fund
accounting, certain administrative services, and transfer agency services for
each Fund. As custodian, BNYM is responsible for custody of each Fund's assets.
As fund accountant and administrator, BNYM is responsible for maintaining the
books and records of each Fund's securities and cash. As transfer agent, BNYM is
responsible for maintaining shareholder records for each Fund. BNYM is a
subsidiary of The Bank of New York Mellon Corporation, a financial holding
company.
Each Trustee who is not an officer or employee of First Trust, any sub-advisor
or any of their affiliates ("Independent Trustees") is paid a fixed annual
retainer that is allocated equally among each fund in the First Trust Fund
Complex. Each Independent Trustee is also paid an annual per fund fee that
varies based on whether the fund is a closed-end or other actively managed fund,
a target outcome fund or an index fund.
Additionally, the Lead Independent Trustee and the Chairs of the Audit
Committee, Nominating and Governance Committee and Valuation Committee are paid
annual fees to serve in such capacities, with such compensation allocated pro
rata among each fund in the First Trust Fund Complex based on net assets.
Independent Trustees are reimbursed for travel and out-of-pocket expenses in
connection with all meetings. The Lead Independent Trustee and Committee Chairs
rotate every three years. The officers and "Interested" Trustee receive no
compensation from the Trust for acting in such capacities.
Page 132
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
4. PURCHASES AND SALES OF SECURITIES
For the six months ended February 28, 2023, the Funds, except BUFT and BUFG, had
no purchases or sales of investments, excluding short-term investments and
in-kind transactions. Each Fund, except BUFT and BUFG, holds options for a
target outcome period of approximately one year based on the expiration date of
the options, which occurs on the third Friday of the month corresponding to the
month in each Fund name. For securities transactions purposes, the options are
considered short-term investments.
For the six months ended February 28, 2023, the cost of purchases and proceeds
from sales of investments for BUFT and BUFG, excluding short-term investments
and in-kind transactions, were as follows:
Purchases Sales
-------------- --------------
FT Cboe Vest Buffered Allocation Defensive ETF $ 330,070,454 $ 330,409,453
FT Cboe Vest Buffered Allocation Growth ETF 396,908,692 397,352,715
For the six months ended February 28, 2023, the cost of in-kind purchases and
proceeds from in-kind sales for each Fund were as follows:
Purchases Sales
-------------- --------------
FT Cboe Vest U.S. Equity Buffer ETF - January $ -- $ 173,163,095
FT Cboe Vest U.S. Equity Deep Buffer ETF - January -- 114,939,236
FT Cboe Vest U.S. Equity Buffer ETF - February -- 52,320,471
FT Cboe Vest U.S. Equity Deep Buffer ETF - February -- 53,234,061
FT Cboe Vest U.S. Equity Buffer ETF - March -- 33,384,155
FT Cboe Vest U.S. Equity Deep Buffer ETF - March -- 127,984,946
FT Cboe Vest U.S. Equity Buffer ETF - April -- 40,928,455
FT Cboe Vest U.S. Equity Deep Buffer ETF - April -- 24,298,266
FT Cboe Vest U.S. Equity Buffer ETF - May -- 78,378,674
FT Cboe Vest U.S. Equity Deep Buffer ETF - May -- 81,372,552
FT Cboe Vest U.S. Equity Buffer ETF - June -- 42,287,316
FT Cboe Vest U.S. Equity Deep Buffer ETF - June -- 23,383,516
FT Cboe Vest U.S. Equity Buffer ETF - July -- 7,715,694
FT Cboe Vest U.S. Equity Deep Buffer ETF - July -- 34,186,037
FT Cboe Vest U.S. Equity Buffer ETF - August -- 14,537,922
FT Cboe Vest U.S. Equity Deep Buffer ETF - August -- 4,522,528
FT Cboe Vest U.S. Equity Buffer ETF - September -- 131,165,392
FT Cboe Vest U.S. Equity Deep Buffer ETF - September -- 115,028,055
FT Cboe Vest U.S. Equity Buffer ETF - October -- 42,210,110
FT Cboe Vest U.S. Equity Deep Buffer ETF - October -- 70,077,630
FT Cboe Vest U.S. Equity Buffer ETF - November -- 98,912,274
FT Cboe Vest U.S. Equity Deep Buffer ETF - November -- 337,691,075
FT Cboe Vest U.S. Equity Buffer ETF - December -- 261,083,028
FT Cboe Vest U.S. Equity Deep Buffer ETF - December -- 297,522,708
FT Cboe Vest Buffered Allocation Defensive ETF 16,659,462 49,555,139
FT Cboe Vest Buffered Allocation Growth ETF 80,067,105 95,518,242
Page 133
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
5. DERIVATIVE TRANSACTIONS
The following table presents the types of derivatives held by each Fund at
February 28, 2023, the primary underlying risk exposure and the location of
these instruments as presented on the Statements of Assets and Liabilities.
ASSET DERIVATIVES LIABILITY DERIVATIVES
----------------------------------------- -----------------------------------------
DERIVATIVES STATEMENTS OF ASSETS AND STATEMENTS OF ASSETS AND
INSTRUMENT RISK EXPOSURE LIABILITIES LOCATION VALUE LIABILITIES LOCATION VALUE
------------------ ------------------ -------------------------- ------------ -------------------------- ------------
FJAN
Options contracts Options contracts
Options Equity Risk purchased, at value $256,304,856 written, at value $ 10,693,822
DJAN
Options contracts Options contracts
Options Equity Risk purchased, at value 208,073,155 written, at value 6,055,075
FFEB
Options contracts Options contracts
Options Equity Risk purchased, at value 332,600,040 written, at value 15,156,864
DFEB
Options contracts Options contracts
Options Equity Risk purchased, at value 262,942,760 written, at value 6,780,001
FMAR
Options contracts Options contracts
Options Equity Risk purchased, at value 207,869,589 written, at value 4,660,772
DMAR
Options contracts Options contracts
Options Equity Risk purchased, at value 217,606,337 written, at value 26,555
FAPR
Options contracts Options contracts
Options Equity Risk purchased, at value 252,321,031 written, at value 5,723,061
DAPR
Options contracts Options contracts
Options Equity Risk purchased, at value 316,984,991 written, at value 226,169
FMAY
Options contracts Options contracts
Options Equity Risk purchased, at value 326,016,949 written, at value 2,222,896
DMAY
Options contracts Options contracts
Options Equity Risk purchased, at value 144,302,822 written, at value 340,077
FJUN
Options contracts Options contracts
Options Equity Risk purchased, at value 280,379,999 written, at value 2,405,407
DJUN
Options contracts Options contracts
Options Equity Risk purchased, at value 165,819,196 written, at value 2,274,185
FJUL
Options contracts Options contracts
Options Equity Risk purchased, at value 224,979,327 written, at value 3,031,934
Page 134
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
ASSET DERIVATIVES LIABILITY DERIVATIVES
----------------------------------------- -----------------------------------------
DERIVATIVES STATEMENTS OF ASSETS AND STATEMENTS OF ASSETS AND
INSTRUMENT RISK EXPOSURE LIABILITIES LOCATION VALUE LIABILITIES LOCATION VALUE
------------------ ------------------ -------------------------- ------------ -------------------------- ------------
DJUL
Options contracts Options contracts
Options Equity Risk purchased, at value $147,916,735 written, at value $ 1,241,666
FAUG
Options contracts Options contracts
Options Equity Risk purchased, at value 339,938,296 written, at value 10,227,411
DAUG
Options contracts Options contracts
Options Equity Risk purchased, at value 447,164,032 written, at value 2,358,271
FSEP
Options contracts Options contracts
Options Equity Risk purchased, at value 305,593,987 written, at value 6,186,920
DSEP
Options contracts Options contracts
Options Equity Risk purchased, at value 201,296,519 written, at value 2,517,093
FOCT
Options contracts Options contracts
Options Equity Risk purchased, at value 299,679,819 written, at value 6,298,368
DOCT
Options contracts Options contracts
Options Equity Risk purchased, at value 195,080,418 written, at value 3,920,184
FNOV
Options contracts Options contracts
Options Equity Risk purchased, at value 398,482,096 written, at value 11,778,207
DNOV
Options contracts Options contracts
Options Equity Risk purchased, at value 300,658,627 written, at value 4,741,134
FDEC
Options contracts Options contracts
Options Equity Risk purchased, at value 238,131,372 written, at value 7,730,337
DDEC
Options contracts Options contracts
Options Equity Risk purchased, at value 328,166,500 written, at value 9,152,774
Page 135
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
The following table presents the amount of net realized gain (loss) and change
in net unrealized appreciation (depreciation) recognized for the six months
ended February 28, 2023, on each Fund's derivative instruments, as well as the
primary underlying risk exposure associated with the instruments.
EQUITY RISK
----------------------------------------------------------------------------------
STATEMENTS OF OPERATIONS LOCATION FJAN DJAN FFEB DFEB FMAR DMAR
------------------------------------- ----------------------------------------------------------------------------------
Net realized gain (loss) on:
Purchased options contracts $(14,210,359) $(13,584,676) $(23,675,738) $(32,811,905) $ 1,106,920 $ 4,103,779
Written options contracts 11,170,712 6,652,647 19,486,864 16,774,622 1,454,493 7,038,505
Net change in unrealized appreciation
(depreciation) on:
Purchased options contracts 11,582,889 9,595,331 15,698,158 19,414,534 (1,441,088) (7,307,994)
Written options contracts (1,099,344) (3,439,794) (5,335,916) (10,404,959) 7,016,511 (2,875,189)
EQUITY RISK
----------------------------------------------------------------------------------
STATEMENTS OF OPERATIONS LOCATION FAPR DAPR FMAY DMAY FJUN DJUN
------------------------------------- ----------------------------------------------------------------------------------
Net realized gain (loss) on:
Purchased options contracts $ 652,322 $ 796,899 $ 221,530 $ (108,473) $ 1,719,380 $ 1,438,822
Written options contracts 1,558,559 1,628,485 6,195,866 5,401,046 2,853,539 1,455,231
Net change in unrealized appreciation
(depreciation) on:
Purchased options contracts (4,386,643) (8,791,095) (12,866,898) (5,228,166) (10,822,244) (6,279,051)
Written options contracts 9,406,256 4,338,985 9,981,645 2,038,172 13,409,590 8,028,260
EQUITY RISK
----------------------------------------------------------------------------------
STATEMENTS OF OPERATIONS LOCATION FJUL DJUL FAUG DAUG FSEP DSEP
------------------------------------- ----------------------------------------------------------------------------------
Net realized gain (loss) on:
Purchased options contracts $ (167,629) $ 442,120 $ (2,075,438) $ 378,180 $(11,904,890) $ (4,598,065)
Written options contracts 629,861 2,467,268 (514,665) 213,595 4,019,962 4,253,226
Net change in unrealized appreciation
(depreciation) on:
Purchased options contracts (7,085,398) (5,261,089) (8,582,307) (7,842,674) 13,145,079 8,814,537
Written options contracts 10,297,853 5,202,627 11,927,544 9,630,623 5,874,942 4,199,805
EQUITY RISK
----------------------------------------------------------------------------------
STATEMENTS OF OPERATIONS LOCATION FOCT DOCT FNOV DNOV FDEC DDEC
------------------------------------- ----------------------------------------------------------------------------------
Net realized gain (loss) on:
Purchased options contracts $(12,383,653) $(12,483,253) $(19,378,054) $(25,031,531) $(14,375,258) $(14,352,980)
Written options contracts 81,915 6,534,275 4,776,676 13,267,580 2,607,321 9,599,577
Net change in unrealized appreciation
(depreciation) on:
Purchased options contracts 16,334,476 14,295,051 15,598,848 22,560,151 19,098,794 15,997,593
Written options contracts 9,727,881 1,329,795 11,285,605 (2,582,546) 3,241,971 (1,134,390)
The Funds do not have the right to offset financial assets and financial
liabilities related to options contracts on the Statements of Assets and
Liabilities.
Page 136
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
The following table presents the premiums for purchased options contracts
opened, premiums for purchased options contracts closed, exercised and expired,
premiums for written options contracts opened, and premiums for written options
contracts closed, exercised and expired, for the six months ended February 28,
2023, on each Fund's options contracts.
PREMIUMS FOR PREMIUMS FOR
PREMIUMS FOR PURCHASED WRITTEN OPTIONS
PURCHASED OPTIONS CONTRACTS PREMIUMS FOR CONTRACTS CLOSED,
OPTIONS CONTRACTS CLOSED, EXERCISED WRITTEN OPTIONS EXERCISED AND
OPENED AND EXPIRED CONTRACTS OPENED EXPIRED
----------------------------------------------------------------------------
FJAN $ 496,503,839 $ 449,724,357 $ 18,085,695 $ 18,421,101
DJAN 386,355,658 321,413,134 8,686,052 7,485,799
FFEB 395,338,516 395,993,921 17,614,372 24,479,147
DFEB 363,878,294 425,660,196 9,798,672 17,734,598
FMAR 79,101,199 78,755,580 4,633,303 6,437,151
DMAR 166,600,906 136,364,591 996,969 7,213,195
FAPR 16,511,114 58,035,566 755,812 4,807,849
DAPR 91,303,504 34,915,056 655,712 1,905,708
FMAY 60,338,831 101,083,079 1,649,125 8,402,959
DMAY 45,851,588 129,862,742 1,187,505 8,256,921
FJUN 47,934,510 71,224,273 2,321,980 5,301,253
DJUN 19,478,820 38,028,323 954,045 2,873,427
FJUL 27,976,260 28,476,904 1,311,485 2,184,486
DJUL 35,984,652 47,037,027 1,431,850 3,656,084
FAUG 103,766,468 98,268,820 5,199,369 6,842,705
DAUG 303,675,312 9,894,381 6,651,089 484,616
FSEP 451,308,051 286,611,580 18,873,531 9,811,312
DSEP 403,387,359 309,517,146 14,009,160 7,313,903
FOCT 445,959,279 314,058,283 28,946,964 18,573,975
DOCT 312,410,466 255,339,750 14,814,712 9,791,119
FNOV 560,294,710 456,060,822 33,984,753 29,832,181
DNOV 657,226,669 779,890,583 16,763,620 17,076,317
FDEC 539,646,142 522,689,693 26,352,453 28,417,662
DDEC 620,576,640 560,674,705 17,266,899 11,310,949
6. CREATIONS, REDEMPTIONS AND TRANSACTION FEES
Each Fund generally issues and redeems its shares in primary market transactions
through a creation and redemption mechanism and does not sell or redeem
individual shares. Instead, financial entities known as "Authorized
Participants" have contractual arrangements with a Fund or one of the Fund's
service providers to purchase and redeem Fund shares directly with the Fund in
large blocks of shares known as "Creation Units." Prior to the start of trading
on every business day, a Fund publishes through the National Securities Clearing
Corporation ("NSCC") the "basket" of securities, cash or other assets that it
will accept in exchange for a Creation Unit of the Fund's shares. An Authorized
Participant that wishes to effectuate a creation of a Fund's shares deposits
with the Fund the "basket" of securities, cash or other assets identified by the
Fund that day, and then receives the Creation Unit of the Fund's shares in
return for those assets. After purchasing a Creation Unit, the Authorized
Participant may continue to hold the Fund's shares or sell them in the secondary
market. The redemption process is the reverse of the purchase process: the
Authorized Participant redeems a Creation Unit of a Fund's shares for a basket
of securities, cash or other assets. The combination of the creation and
redemption process with secondary market trading in a Fund's shares and
underlying securities provides arbitrage opportunities that are designed to help
keep the market price of a Fund's shares at or close to the NAV per share of the
Fund.
Each Fund imposes fees in connection with the purchase of Creation Units. These
fees may vary based upon various fact-based circumstances, including, but not
limited to, the composition of the securities included in the Creation Unit or
the countries in which the transactions are settled. The price for each Creation
Unit will equal the daily NAV per share of a Fund times the number of shares in
a Creation Unit, plus the fees described above and, if applicable, any
operational processing and brokerage costs, transfer fees, stamp taxes and part
or all of the spread between the expected bid and offer side of the market
related to the securities comprising the creation basket.
Each Fund also imposes fees in connection with the redemption of Creation Units.
These fees may vary based upon various fact-based circumstances, including, but
not limited to, the composition of the securities included in the Creation Unit
or the countries in which the transactions are settled. The price received for
each Creation Unit will equal the daily NAV per share of a Fund times the
Page 137
--------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
number of shares in a Creation Unit, minus the fees described above and, if
applicable, any operational processing and brokerage costs, transfer fees, stamp
taxes and part or all of the spread between the expected bid and offer side of
the market related to the securities comprising the redemption basket. Investors
who use the services of a broker or other such intermediary in addition to an
Authorized Participant to effect a redemption of a Creation Unit may also be
assessed an amount to cover the cost of such services. The redemption fee
charged by a Fund will comply with Rule 22c-2 of the 1940 Act which limits
redemption fees to no more than 2% of the value of the shares redeemed.
7. DISTRIBUTION PLAN
The Board of Trustees adopted a Distribution and Service Plan pursuant to Rule
12b-1 under the 1940 Act. In accordance with the Rule 12b-1 plan, the Funds are
authorized to pay an amount up to 0.25% of their average daily net assets each
year to reimburse First Trust Portfolios L.P. ("FTP"), the distributor of the
Funds, for amounts expended to finance activities primarily intended to result
in the sale of Creation Units or the provision of investor services. FTP may
also use this amount to compensate securities dealers or other persons that are
Authorized Participants for providing distribution assistance, including
broker-dealer and shareholder support and educational and promotional services.
No 12b-1 fees are currently paid by the Funds, and pursuant to a contractual
arrangement, no 12b-1 fees will be paid any time before December 31, 2023.
8. INDEMNIFICATION
The Trust, on behalf of the Funds, has a variety of indemnification obligations
under contracts with its service providers. The Trust's maximum exposure under
these arrangements is unknown. However, the Trust has not had prior claims or
losses pursuant to these contracts and expects the risk of loss to be remote.
9. SUBSEQUENT EVENTS
Management has evaluated the impact of all subsequent events on the Funds
through the date the financial statements were issued and has determined that
there were the following subsequent events:
As of March 20, 2023, the investment objective of the FT Cboe Vest U.S. Equity
Buffer ETF - March changed to include an upside cap of 19.35% (before fees and
expenses) and 18.50% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee) and an Outcome Period of March 20, 2023 to March 15, 2024.
As of March 20, 2023, the investment objective of the FT Cboe Vest U.S. Equity
Deep Buffer ETF - March changed to include an upside cap of 14.36% (before fees
and expenses) and 13.51% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee) and an Outcome Period of March 20, 2023 to March 15,
2024.
As of April 24, 2023, the investment objective of the FT Cboe Vest U.S. Equity
Buffer ETF - April changed to include an upside cap of 18.48% (before fees and
expenses) and 17.63% (after fees and expenses, excluding brokerage commissions,
trading fees, taxes and extraordinary expenses not included in the Fund's
management fee) and an Outcome Period of April 24, 2023 to April 19, 2024.
As of April 24, 2023, the investment objective of the FT Cboe Vest U.S. Equity
Deep Buffer ETF - April changed to include an upside cap of 14.05% (before fees
and expenses) and 13.20% (after fees and expenses, excluding brokerage
commissions, trading fees, taxes and extraordinary expenses not included in the
Fund's management fee) and an Outcome Period of April 24, 2023 to April 19,
2024.
Page 138
--------------------------------------------------------------------------------
ADDITIONAL INFORMATION
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
PROXY VOTING POLICIES AND PROCEDURES
A description of the policies and procedures that the Trust uses to determine
how to vote proxies and information on how each Fund voted proxies relating to
its portfolio securities during the most recent 12-month period ended June 30 is
available (1) without charge, upon request, by calling (800) 988-5891; (2) on
each Fund's website at www.ftportfolios.com; and (3) on the Securities and
Exchange Commission's ("SEC") website at www.sec.gov.
PORTFOLIO HOLDINGS
Each Fund files portfolio holdings information for each month in a fiscal
quarter within 60 days after the end of the relevant fiscal quarter on Form
N-PORT. Portfolio holdings information for the third month of each fiscal
quarter will be publicly available on the SEC's website at www.sec.gov. Each
Fund's complete schedule of portfolio holdings for the second and fourth
quarters of each fiscal year is included in the semi-annual and annual reports
to shareholders, respectively, and is filed with the SEC on Form N-CSR. The
semi-annual and annual report for each Fund is available to investors within 60
days after the period to which it relates. Each Fund's Forms N-PORT and Forms
N-CSR are available on the SEC's website listed above.
RISK CONSIDERATIONS
RISKS ARE INHERENT IN ALL INVESTING. CERTAIN GENERAL RISKS THAT MAY BE
APPLICABLE TO A FUND ARE IDENTIFIED BELOW, BUT NOT ALL OF THE MATERIAL RISKS
RELEVANT TO EACH FUND ARE INCLUDED IN THIS REPORT AND NOT ALL OF THE RISKS BELOW
APPLY TO EACH FUND. THE MATERIAL RISKS OF INVESTING IN EACH FUND ARE SPELLED OUT
IN ITS PROSPECTUS, STATEMENT OF ADDITIONAL INFORMATION AND OTHER REGULATORY
FILINGS. BEFORE INVESTING, YOU SHOULD CONSIDER EACH FUND'S INVESTMENT OBJECTIVE,
RISKS, CHARGES AND EXPENSES, AND READ EACH FUND'S PROSPECTUS AND STATEMENT OF
ADDITIONAL INFORMATION CAREFULLY. YOU CAN DOWNLOAD EACH FUND'S PROSPECTUS AT
WWW.FTPORTFOLIOS.COM OR CONTACT FIRST TRUST PORTFOLIOS L.P. AT (800) 621-1675 TO
REQUEST A PROSPECTUS, WHICH CONTAINS THIS AND OTHER INFORMATION ABOUT EACH FUND.
CONCENTRATION RISK. To the extent that a fund is able to invest a significant
percentage of its assets in a single asset class or the securities of issuers
within the same country, state, region, industry or sector, an adverse economic,
business or political development may affect the value of the fund's investments
more than if the fund were more broadly diversified. A fund that tracks an index
will be concentrated to the extent the fund's corresponding index is
concentrated. A concentration makes a fund more susceptible to any single
occurrence and may subject the fund to greater market risk than a fund that is
more broadly diversified.
CREDIT RISK. Credit risk is the risk that an issuer of a security will be unable
or unwilling to make dividend, interest and/or principal payments when due and
the related risk that the value of a security may decline because of concerns
about the issuer's ability to make such payments.
CYBER SECURITY RISK. The funds are susceptible to potential operational risks
through breaches in cyber security. A breach in cyber security refers to both
intentional and unintentional events that may cause a fund to lose proprietary
information, suffer data corruption or lose operational capacity. Such events
could cause a fund to incur regulatory penalties, reputational damage,
additional compliance costs associated with corrective measures and/or financial
loss. In addition, cyber security breaches of a fund's third-party service
providers, such as its administrator, transfer agent, custodian, or sub-advisor,
as applicable, or issuers in which the fund invests, can also subject a fund to
many of the same risks associated with direct cyber security breaches.
DEFINED OUTCOME FUNDS RISK. To the extent a fund's investment strategy is
designed to deliver returns tied to the price performance of an underlying ETF,
an investor may not realize the returns the fund seeks to achieve if that
investor does not hold shares for the entire target outcome period. In the event
an investor purchases shares after the first day of the target outcome period or
sells shares prior to the end of the target outcome period, the buffer that the
fund seeks to provide against a decline in the value of the underlying ETF may
not be available, the enhanced returns that the fund seeks to provide (if any)
may not be available and the investor may not participate in a gain in the value
of the underlying ETF up to the cap for the investor's investment period.
Additionally, the fund will not participate in gains of the underlying ETF above
the cap and a shareholder may lose their entire investment. If the fund seeks
enhanced returns, there are certain time periods when the value of the fund may
fall faster than the value of the underlying ETF, and it is very unlikely that,
on any given day during which the underlying ETF share price increases in value,
the fund's share price will increase at the same rate as the enhanced returns
sought by the fund, which is designed for an entire target outcome period.
Trading flexible exchange options involves risks different from, or possibly
greater than, the risks associated with investing directly in securities, such
as less liquidity and correlation and valuation risks. A fund may experience
substantial downside from specific flexible exchange option positions and
certain positions may expire worthless.
DERIVATIVES RISK. To the extent a fund uses derivative instruments such as
futures contracts, options contracts and swaps, the fund may experience losses
because of adverse movements in the price or value of the underlying asset,
index or rate, which may be magnified by certain features of the derivative.
These risks are heightened when a fund's portfolio managers use derivatives to
enhance the fund's return or as a substitute for a position or security, rather
than solely to hedge (or offset) the risk of a position or security held by the
fund.
Page 139
--------------------------------------------------------------------------------
ADDITIONAL INFORMATION (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
EQUITY SECURITIES RISK. To the extent a fund invests in equity securities, the
value of the fund's shares will fluctuate with changes in the value of the
equity securities. Equity securities prices fluctuate for several reasons,
including changes in investors' perceptions of the financial condition of an
issuer or the general condition of the relevant stock market, such as market
volatility, or when political or economic events affecting the issuers occur. In
addition, common stock prices may be particularly sensitive to rising interest
rates, as the cost of capital rises and borrowing costs increase. Equity
securities may decline significantly in price over short or extended periods of
time, and such declines may occur in the equity market as a whole, or they may
occur in only a particular country, company, industry or sector of the market.
ETF RISK. The shares of an ETF trade like common stock and represent an interest
in a portfolio of securities. The risks of owning an ETF generally reflect the
risks of owning the underlying securities, although lack of liquidity in an ETF
could result in it being more volatile and ETFs have management fees that
increase their costs. Shares of an ETF trade on an exchange at market prices
rather than net asset value, which may cause the shares to trade at a price
greater than net asset value (premium) or less than net asset value (discount).
In times of market stress, decisions by market makers to reduce or step away
from their role of providing a market for an ETF's shares, or decisions by an
ETF's authorized participants that they are unable or unwilling to proceed with
creation and/or redemption orders of an ETF's shares, could result in shares of
the ETF trading at a discount to net asset value and in greater than normal
intraday bid-ask spreads.
FIXED INCOME SECURITIES RISK. To the extent a fund invests in fixed income
securities, the fund will be subject to credit risk, income risk, interest rate
risk, liquidity risk and prepayment risk. Income risk is the risk that income
from a fund's fixed income investments could decline during periods of falling
interest rates. Interest rate risk is the risk that the value of a fund's fixed
income securities will decline because of rising interest rates. Liquidity risk
is the risk that a security cannot be purchased or sold at the time desired, or
cannot be purchased or sold without adversely affecting the price. Prepayment
risk is the risk that the securities will be redeemed or prepaid by the issuer,
resulting in lower interest payments received by the fund. In addition to these
risks, high yield securities, or "junk" bonds, are subject to greater market
fluctuations and risk of loss than securities with higher ratings, and the
market for high yield securities is generally smaller and less liquid than that
for investment grade securities.
INDEX OR MODEL CONSTITUENT RISK. Certain funds may be a constituent of one or
more indices or ETF models. As a result, such a fund may be included in one or
more index-tracking exchange-traded funds or mutual funds. Being a component
security of such a vehicle could greatly affect the trading activity involving a
fund, the size of the fund and the market volatility of the fund. Inclusion in
an index could increase demand for the fund and removal from an index could
result in outsized selling activity in a relatively short period of time. As a
result, a fund's net asset value could be negatively impacted and the fund's
market price may be significantly below its net asset value during certain
periods. In addition, index rebalances may potentially result in increased
trading activity in a fund's shares.
INDEX PROVIDER RISK. To the extent a fund seeks to track an index, it is subject
to Index Provider Risk. There is no assurance that the Index Provider will
compile the Index accurately, or that the Index will be determined, maintained,
constructed, reconstituted, rebalanced, composed, calculated or disseminated
accurately. To correct any such error, the Index Provider may carry out an
unscheduled rebalance or other modification of the Index constituents or
weightings, which may increase the fund's costs. The Index Provider does not
provide any representation or warranty in relation to the quality, accuracy or
completeness of data in the Index, and it does not guarantee that the Index will
be calculated in accordance with its stated methodology. Losses or costs
associated with any Index Provider errors generally will be borne by the fund
and its shareholders.
INVESTMENT COMPANIES RISK. To the extent a fund invests in the securities of
other investment vehicles, the fund will incur additional fees and expenses that
would not be present in a direct investment in those investment vehicles.
Furthermore, the fund's investment performance and risks are directly related to
the investment performance and risks of the investment vehicles in which the
fund invests.
LIBOR RISK. To the extent a fund invests in floating or variable rate
obligations that use the London Interbank Offered Rate ("LIBOR") as a reference
interest rate, it is subject to LIBOR Risk. The United Kingdom's Financial
Conduct Authority, which regulates LIBOR has ceased making LIBOR available as a
reference rate over a phase-out period that began December 31, 2021. There is no
assurance that any alternative reference rate, including the Secured Overnight
Financing Rate ("SOFR") will be similar to or produce the same value or economic
equivalence as LIBOR or that instruments using an alternative rate will have the
same volume or liquidity. The unavailability or replacement of LIBOR may affect
the value, liquidity or return on certain fund investments and may result in
costs incurred in connection with closing out positions and entering into new
trades. Any potential effects of the transition away from LIBOR on the fund or
on certain instruments in which the fund invests can be difficult to ascertain,
and they may vary depending on a variety of factors, and they could result in
losses to the fund.
MANAGEMENT RISK. To the extent that a fund is actively managed, it is subject to
management risk. In managing an actively-managed fund's investment portfolio,
the fund's portfolio managers will apply investment techniques and risk analyses
that may not have the desired result. There can be no guarantee that a fund will
meet its investment objective.
Page 140
--------------------------------------------------------------------------------
ADDITIONAL INFORMATION (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
MARKET RISK. Market risk is the risk that a particular security, or shares of a
fund in general, may fall in value. Securities held by a fund, as well as shares
of a fund itself, are subject to market fluctuations caused by factors such as
general economic conditions, political events, regulatory or market
developments, changes in interest rates and perceived trends in securities
prices. Shares of a fund could decline in value or underperform other
investments as a result of the risk of loss associated with these market
fluctuations. In addition, local, regional or global events such as war, acts of
terrorism, spread of infectious diseases or other public health issues,
recessions, or other events could have a significant negative impact on a fund
and its investments. Such events may affect certain geographic regions,
countries, sectors and industries more significantly than others. In February
2022, Russia invaded Ukraine which has caused and could continue to cause
significant market disruptions and volatility within the markets in Russia,
Europe, and the United States. The hostilities and sanctions resulting from
those hostilities could have a significant impact on certain fund investments as
well as fund performance. The COVID-19 global pandemic and the ensuing policies
enacted by governments and central banks have caused and may continue to cause
significant volatility and uncertainty in global financial markets. While the
U.S. has resumed "reasonably" normal business activity, many countries continue
to impose lockdown measures. Additionally, there is no guarantee that vaccines
will be effective against emerging variants of the disease. These events also
adversely affect the prices and liquidity of a fund's portfolio securities or
other instruments and could result in disruptions in the trading markets. Any of
such circumstances could have a materially negative impact on the value of a
fund's shares and result in increased market volatility. During any such events,
a fund's shares may trade at increased premiums or discounts to their net asset
value and the bid/ask spread on a fund's shares may widen.
NON-U.S. SECURITIES RISK. To the extent a fund invests in non-U.S. securities,
it is subject to additional risks not associated with securities of domestic
issuers. Non-U.S. securities are subject to higher volatility than securities of
domestic issuers due to: possible adverse political, social or economic
developments; restrictions on foreign investment or exchange of securities;
capital controls; lack of liquidity; currency exchange rates; excessive
taxation; government seizure of assets; the imposition of sanctions by foreign
governments; different legal or accounting standards; and less government
supervision and regulation of exchanges in foreign countries. Investments in
non-U.S. securities may involve higher costs than investments in U.S.
securities, including higher transaction and custody costs, as well as
additional taxes imposed by non-U.S. governments. These risks may be heightened
for securities of companies located, or with significant operations, in emerging
market countries.
OPERATIONAL RISK. Each fund is subject to risks arising from various operational
factors, including, but not limited to, human error, processing and
communication errors, errors of a fund's service providers, counterparties or
other third-parties, failed or inadequate processes and technology or systems
failures. Each fund relies on third-parties for a range of services, including
custody. Any delay or failure relating to engaging or maintaining such service
providers may affect a fund's ability to meet its investment objective. Although
the funds and the funds' investment advisor seek to reduce these operational
risks through controls and procedures, there is no way to completely protect
against such risks.
PASSIVE INVESTMENT RISK. To the extent a fund seeks to track an index, the fund
will invest in the securities included in, or representative of, the index
regardless of their investment merit. A fund generally will not attempt to take
defensive positions in declining markets.
PREFERRED SECURITIES RISK. Preferred securities combine some of the
characteristics of both common stocks and bonds. Preferred securities are
typically subordinated to bonds and other debt securities in a company's capital
structure in terms of priority to corporate income, subjecting them to greater
credit risk than those debt securities. Generally, holders of preferred
securities have no voting rights with respect to the issuing company unless
preferred dividends have been in arrears for a specified number of periods, at
which time the preferred security holders may obtain limited rights. In certain
circumstances, an issuer of preferred securities may defer payment on the
securities and, in some cases, redeem the securities prior to a specified date.
Preferred securities may also be substantially less liquid than other
securities, including common stock.
VALUATION RISK. The valuation of certain securities may carry more risk than
that of common stock. Uncertainties in the conditions of the financial markets,
unreliable reference data, lack of transparency and inconsistency of valuation
models and processes may lead to inaccurate asset pricing. A fund may hold
investments in sizes smaller than institutionally sized round lot positions
(sometimes referred to as odd lots). However, third-party pricing services
generally provide evaluations on the basis of institutionally-sized round lots.
If a fund sells certain of its investments in an odd lot transaction, the sale
price may be less than the value at which such securities have been held by the
fund. Odd lots often trade at lower prices than institutional round lots. There
is no assurance that the fund will be able to sell a portfolio security at the
price established by the pricing service, which could result in a loss to the
fund.
DISCLAIMER
The Funds are not sponsored, endorsed, sold or promoted by SPDR(R) S&P 500(R)
ETF Trust, PDR, or Standard & Poor's(R) (together with their affiliates
hereinafter referred to as the "Corporations"). The Corporations have not passed
on the legality or suitability of, or the accuracy or adequacy of, descriptions
and disclosures relating to the Funds or the FLEX Options. The Corporations make
no representations or warranties, express or implied, regarding the advisability
of investing in the Funds or the FLEX Options or results to be obtained by the
Page 141
--------------------------------------------------------------------------------
ADDITIONAL INFORMATION (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
Funds or the FLEX Options, shareholders or any other person or entity from use
of the SPDR(R) S&P 500(R) ETF Trust. The Corporations have no liability in
connection with the management, administration, marketing or trading of the
Funds or the FLEX Options.
NOT FDIC INSURED NOT BANK GUARANTEED MAY LOSE VALUE
ADVISORY AND SUB-ADVISORY AGREEMENTS
BOARD CONSIDERATIONS REGARDING APPROVAL OF AMENDMENTS TO THE INVESTMENT
MANAGEMENT AND SUB-ADVISORY AGREEMENTS
The Board of Trustees of First Trust Exchange-Traded Fund VIII (the "Trust"),
including the Independent Trustees, unanimously approved the amendment (the
"Advisory Agreement Amendment") of the Investment Management Agreement (the
"Advisory Agreement") with First Trust Advisors L.P. (the "Advisor") and the
amendment (as applicable to a specific Fund, the "Sub-Advisory Agreement
Amendment" and collectively, the "Sub-Advisory Agreement Amendments" and
together with the Advisory Agreement Amendment, the "Amendments") of the
Investment Sub-Advisory Agreements (as applicable to a specific Fund, the
"Sub-Advisory Agreement" and collectively, the "Sub-Advisory Agreements" and
together with the Advisory Agreement, the "Agreements") among the Trust, the
Advisor and Cboe Vest(SM) Financial LLC (the "Sub-Advisor") on behalf of the
following twenty-six series of the Trust (each a "Fund" and collectively, the
"Funds"):
FT Cboe Vest U.S. Equity Buffer ETF - January (FJAN)
FT Cboe Vest U.S. Equity Deep Buffer ETF - January (DJAN)
FT Cboe Vest U.S. Equity Buffer ETF - February (FFEB)
FT Cboe Vest U.S. Equity Deep Buffer ETF - February (DFEB)
FT Cboe Vest U.S. Equity Buffer ETF - March (FMAR)
FT Cboe Vest U.S. Equity Deep Buffer ETF - March (DMAR)
FT Cboe Vest U.S. Equity Buffer ETF - April (FAPR)
FT Cboe Vest U.S. Equity Deep Buffer ETF - April (DAPR)
FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY)
FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY)
FT Cboe Vest U.S. Equity Buffer ETF - June (FJUN)
FT Cboe Vest U.S. Equity Deep Buffer ETF - June (DJUN)
FT Cboe Vest U.S. Equity Buffer ETF - July (FJUL)
FT Cboe Vest U.S. Equity Deep Buffer ETF - July (DJUL)
FT Cboe Vest U.S. Equity Buffer ETF - August (FAUG)
FT Cboe Vest U.S. Equity Deep Buffer ETF - August (DAUG)
FT Cboe Vest U.S. Equity Buffer ETF - September (FSEP)
FT Cboe Vest U.S. Equity Deep Buffer ETF - September (DSEP)
FT Cboe Vest U.S. Equity Buffer ETF - October (FOCT)
FT Cboe Vest U.S. Equity Deep Buffer ETF - October (DOCT)
FT Cboe Vest U.S. Equity Buffer ETF - November (FNOV)
FT Cboe Vest U.S. Equity Deep Buffer ETF - November (DNOV)
FT Cboe Vest U.S. Equity Buffer ETF - December (FDEC)
FT Cboe Vest U.S. Equity Deep Buffer ETF - December (DDEC)
FT Cboe Vest Buffered Allocation Defensive ETF (BUFT)
FT Cboe Vest Buffered Allocation Growth ETF (BUFG)
The Board approved the applicable Amendments for each Fund at a meeting held on
October 24, 2022. As part of the review process, the Board reviewed information
and had preliminary discussions with the Advisor regarding the proposed
Amendments at meetings held on April 18, 2022, June 12-13, 2022 and September
18-19, 2022. Following those preliminary discussions, the Board requested and
received information from the Advisor regarding the proposed Amendments, and
that information was considered at an executive session of the Independent
Trustees and their counsel held prior to the October 24, 2022 meeting, as well
as at the October meeting.
In reviewing the Advisory Agreement Amendment for each Fund, the Board
considered that the purpose of the Advisory Agreement Amendment is to modify the
unitary fee rate for each Fund under the Advisory Agreement by introducing a
breakpoint schedule pursuant to which the unitary fee rate paid by each Fund to
the Advisor will be reduced as assets of such Fund meet certain thresholds. In
reviewing the Sub-Advisory Agreement Amendment for each Fund, the Board
considered that the purpose of the Sub-Advisory Agreement Amendments is to
modify the sub-advisory fee rate for each Fund under the applicable Sub-Advisory
Agreement to reflect the modification of the unitary fee rate schedule under the
Advisory Agreement Amendment. The Board noted the Advisor's representations that
Page 142
--------------------------------------------------------------------------------
ADDITIONAL INFORMATION (CONTINUED)
--------------------------------------------------------------------------------
FIRST TRUST EXCHANGE-TRADED FUND VIII
FEBRUARY 28, 2023 (UNAUDITED)
the quality and quantity of the services provided to each Fund by the Advisor
under the Advisory Agreement and by the Sub-Advisor under the applicable
Sub-Advisory Agreement will not be reduced or modified as a result of the
Advisory Agreement Amendment and the applicable Sub-Advisory Agreement
Amendment, and that the obligations of the Advisor under the Advisory Agreement
and the obligations of the Sub-Advisor under each Sub-Advisory Agreement will
remain the same in all respects.
The Board noted that it, including the Independent Trustees, last approved the
continuation of the applicable Agreements for each Fund other than BUFT and BUFG
for a one-year period ending June 30, 2023 at a meeting held on June 12-13,
2022. The Board noted that in connection with such approval it had determined
for each Fund, based upon the information provided, that the terms of the
applicable Agreements were fair and reasonable and that the continuation of the
applicable Agreements was in the best interests of the Fund in light of the
nature, extent and quality of the services provided and such other matters as
the Board considered to be relevant in the exercise of its business judgment.
The Board also noted that it, including the Independent Trustees, approved the
applicable Agreements for BUFT and BUFG for an initial two-year period ending
October 25, 2023 at a meeting held on September 13, 2021. The Board noted that
in connection with such approval it had determined, based upon the information
provided, that the terms of the applicable Agreements were fair and reasonable
and that the approval of the applicable Agreements was in the best interests of
each Fund in light of the nature, extent and quality of the services expected to
be provided and such other matters as the Board considered to be relevant in the
exercise of its business judgment.
Based on all of the information considered, the Board, including the Independent
Trustees, unanimously determined that the terms of the Amendments are fair and
reasonable and that the Amendments are in the best interests of each Fund.
Page 143
This page intentionally left blank.
FIRST TRUST
First Trust Exchange-Traded Fund VIII
INVESTMENT ADVISOR
First Trust Advisors L.P.
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
INVESTMENT SUB-ADVISOR
Cboe Vest(SM) Financial LLC
8350 Broad Street, Suite 240
McLean, VA 22102
ADMINISTRATOR, CUSTODIAN,
FUND ACCOUNTANT &
TRANSFER AGENT
The Bank of New York Mellon
240 Greenwich Street
New York, NY 10286
INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM
Deloitte & Touche LLP
111 S. Wacker Drive
Chicago, IL 60606
LEGAL COUNSEL
Chapman and Cutler LLP
320 South Canal Street
Chicago, IL 60606
[BLANK BACK COVER]