{
 "ticker": "TDEC",
 "name": "FT Vest Emerging Markets Buffer ETF - December",
 "issuer": "First Trust",
 "desk": "buffer",
 "url": "https://etfiq.com/funds/tdec",
 "html": "https://etfiq.com/funds/tdec",
 "markdown": "https://etfiq.com/funds/tdec.md",
 "as_of": "2026-09-11",
 "verdict": "As of Sep 11, 2026, TDEC has reached its cap.",
 "key_facts": [
  {
   "key": "past_the_cap_price_drift_left",
   "label": "Past the cap, price drift left",
   "value": "3.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TDEC, past the cap, price drift left: 3.7%, as of Sep 11, 2026."
  },
  {
   "key": "fall_before_the_buffer",
   "label": "Fall before the buffer",
   "value": "13.6%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TDEC, fall before the buffer: 13.6%, as of Sep 11, 2026."
  },
  {
   "key": "protection_left_index_points",
   "label": "Protection left, index points",
   "value": "10.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TDEC, protection left, index points: 10.0%, as of Sep 11, 2026."
  },
  {
   "key": "days_to_reset",
   "label": "Days to reset",
   "value": "98",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TDEC, days to reset: 98, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$16m",
   "source": "issuer page, as of Sep 11, 2026",
   "as_of": "2026-09-11",
   "sentence": "TDEC, net assets: $16m (issuer page, as of Sep 11, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.95%",
   "source": "issuer page, Sep 11, 2026",
   "as_of": "2026-09-11",
   "sentence": "TDEC, expense ratio: 0.95% (issuer page, Sep 11, 2026)."
  }
 ],
 "fields": [
  {
   "key": "reference_index",
   "label": "Reference index",
   "value": "EEM",
   "source": null
  },
  {
   "key": "buffer",
   "label": "Buffer",
   "value": "10%",
   "source": null
  },
  {
   "key": "outcome_period",
   "label": "Outcome period",
   "value": "Dec 22, 2025 to Dec 18, 2026",
   "source": null
  },
  {
   "key": "starting_cap",
   "label": "Starting cap",
   "value": "+19.8%",
   "source": null
  },
  {
   "key": "eem_return_since_period_start",
   "label": "EEM return since period start",
   "value": "+26.3%",
   "source": null
  },
  {
   "key": "fund_return_since_period_start",
   "label": "Fund return since period start",
   "value": "+14.6%",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$16m",
   "source": "issuer page, as of Sep 11, 2026"
  },
  {
   "key": "band_state_today",
   "label": "Band state today",
   "value": "At cap",
   "source": "ETFIQ"
  },
  {
   "key": "can_still_gain",
   "label": "Can still gain",
   "value": "3.7%",
   "source": "issuer, fund price"
  },
  {
   "key": "fall_before_buffer",
   "label": "Fall before buffer",
   "value": "13.6%",
   "source": "issuer, fund price"
  },
  {
   "key": "fall_to_the_buffer_in_index_terms",
   "label": "Fall to the buffer in index terms",
   "value": "20.8%",
   "source": "ETFIQ"
  },
  {
   "key": "protection_left_in_index_points",
   "label": "Protection left in index points",
   "value": "10.0% of 10.0%",
   "source": "ETFIQ"
  },
  {
   "key": "days_left_in_period",
   "label": "Days left in period",
   "value": "98",
   "source": null
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.95%",
   "source": "issuer page, Sep 11, 2026"
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "+4.5%",
   "EEM": "+0.4%",
   "Gap to EEM": "+4.1 pts"
  },
  {
   "window": "6 months",
   "Total return": "+12.5%",
   "EEM": "+20.0%",
   "Gap to EEM": "\u22127.5 pts"
  },
  {
   "window": "1 year",
   "Total return": "+17.8%",
   "EEM": "+32.3%",
   "Gap to EEM": "\u221214.5 pts"
  }
 ],
 "questions": [
  {
   "q": "How much can TDEC still gain?",
   "a": "Nothing more in index terms on Sep 11, 2026. EEM has already passed the cap of +19.8% for this period, which runs from Dec 22, 2025 to Dec 18, 2026."
  },
  {
   "q": "How far can TDEC fall before the buffer helps?",
   "a": "13.6% in fund-price terms on Sep 11, 2026, by the issuer's figure. In index terms EEM can fall 20.8% from that level before the buffer begins. Losses until that point are the holder's."
  },
  {
   "q": "How much of the TDEC buffer is left?",
   "a": "10.0% of the 10.0% buffer sat below the EEM level on Sep 11, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer."
  },
  {
   "q": "When does TDEC reset?",
   "a": "The outcome period ends on Dec 18, 2026, 98 days from the data on Sep 11, 2026. A new cap is set the next day and the buffer starts again."
  },
  {
   "q": "What does TDEC cost?",
   "a": "The prospectus expense ratio is 0.95% a year."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}