{
 "ticker": "QCJL",
 "name": "FT Vest Nasdaq-100\u00ae Conservative Buffer ETF - July",
 "issuer": "First Trust",
 "desk": "buffer",
 "url": "https://etfiq.com/funds/qcjl",
 "html": "https://etfiq.com/funds/qcjl",
 "markdown": "https://etfiq.com/funds/qcjl.md",
 "as_of": "2026-09-11",
 "verdict": "As of Sep 11, 2026, QCJL sits between its buffer and its cap, with QQQ up 2.8% since the period began.",
 "key_facts": [
  {
   "key": "can_still_gain",
   "label": "Can still gain",
   "value": "13.1%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "QCJL, can still gain: 13.1%, as of Sep 11, 2026."
  },
  {
   "key": "fall_before_the_buffer",
   "label": "Fall before the buffer",
   "value": "3.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "QCJL, fall before the buffer: 3.0%, as of Sep 11, 2026."
  },
  {
   "key": "protection_left_index_points",
   "label": "Protection left, index points",
   "value": "20.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "QCJL, protection left, index points: 20.0%, as of Sep 11, 2026."
  },
  {
   "key": "days_to_reset",
   "label": "Days to reset",
   "value": "308",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "QCJL, days to reset: 308, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$101m",
   "source": "issuer page, as of Sep 11, 2026",
   "as_of": "2026-09-11",
   "sentence": "QCJL, net assets: $101m (issuer page, as of Sep 11, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.90%",
   "source": "issuer page, Sep 11, 2026",
   "as_of": "2026-09-11",
   "sentence": "QCJL, expense ratio: 0.90% (issuer page, Sep 11, 2026)."
  }
 ],
 "fields": [
  {
   "key": "reference_index",
   "label": "Reference index",
   "value": "QQQ",
   "source": null
  },
  {
   "key": "buffer",
   "label": "Buffer",
   "value": "20%",
   "source": null
  },
  {
   "key": "outcome_period",
   "label": "Outcome period",
   "value": "Jul 20, 2026 to Jul 16, 2027",
   "source": null
  },
  {
   "key": "starting_cap",
   "label": "Starting cap",
   "value": "+16.4%",
   "source": null
  },
  {
   "key": "qqq_return_since_period_start",
   "label": "QQQ return since period start",
   "value": "+2.8%",
   "source": null
  },
  {
   "key": "fund_return_since_period_start",
   "label": "Fund return since period start",
   "value": "+2.2%",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$101m",
   "source": "issuer page, as of Sep 11, 2026"
  },
  {
   "key": "band_state_today",
   "label": "Band state today",
   "value": "Open",
   "source": "ETFIQ"
  },
  {
   "key": "can_still_gain",
   "label": "Can still gain",
   "value": "13.1%",
   "source": "issuer, fund price"
  },
  {
   "key": "fall_before_buffer",
   "label": "Fall before buffer",
   "value": "3.0%",
   "source": "issuer, fund price"
  },
  {
   "key": "fall_to_the_buffer_in_index_terms",
   "label": "Fall to the buffer in index terms",
   "value": "2.7%",
   "source": "ETFIQ"
  },
  {
   "key": "protection_left_in_index_points",
   "label": "Protection left in index points",
   "value": "20.0% of 20.0%",
   "source": "ETFIQ"
  },
  {
   "key": "days_left_in_period",
   "label": "Days left in period",
   "value": "308",
   "source": null
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.90%",
   "source": "issuer page, Sep 11, 2026"
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "+2.8%",
   "QQQ": "\u22120.8%",
   "Gap to QQQ": "+3.6 pts"
  },
  {
   "window": "6 months",
   "Total return": "+8.8%",
   "QQQ": "+20.7%",
   "Gap to QQQ": "\u221211.9 pts"
  },
  {
   "window": "1 year",
   "Total return": "+11.2%",
   "QQQ": "+23.0%",
   "Gap to QQQ": "\u221211.8 pts"
  }
 ],
 "questions": [
  {
   "q": "How much can QCJL still gain?",
   "a": "About 13.1% from its price on Sep 11, 2026, before it reaches its cap, by the issuer's published figure. The cap for the period was set at +16.4%."
  },
  {
   "q": "How far can QCJL fall before the buffer helps?",
   "a": "3.0% in fund-price terms on Sep 11, 2026, by the issuer's figure. In index terms QQQ can fall 2.7% from that level before the buffer begins. Losses until that point are the holder's."
  },
  {
   "q": "How much of the QCJL buffer is left?",
   "a": "20.0% of the 20.0% buffer sat below the QQQ level on Sep 11, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer."
  },
  {
   "q": "When does QCJL reset?",
   "a": "The outcome period ends on Jul 16, 2027, 308 days from the data on Sep 11, 2026. A new cap is set the next day and the buffer starts again."
  },
  {
   "q": "What does QCJL cost?",
   "a": "The prospectus expense ratio is 0.90% a year."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}