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          <description>Other</description>
          <securityClassTitle>FT Vest Hedged Equity Income Fund: Series B1 - Class I Shares</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="N/A" commonStockTickerSymbol="N/A"/>
          </commonStocks>
          <otherSecurityDescription>Shares of Beneficial Interest</otherSecurityDescription>
        </securityRelatedItem>
      </securityRelatedItems>
      <isRightsOffering>N</isRightsOffering>
      <isSecondaryOffering>N</isSecondaryOffering>
      <repurchaseSecurities isRepurchaseSecurity="Y">
        <repurchaseSecurityType>Other</repurchaseSecurityType>
        <otherRepurchaseSecurityDesc>Shares of Beneficial Ownership</otherRepurchaseSecurityDesc>
      </repurchaseSecurities>
      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>N</isSecuritiesModified>
      <managementFee>2.650000000000</managementFee>
      <netOperatingExpenses>2.680000000000</netOperatingExpenses>
      <marketPricePerShare>N/A</marketPricePerShare>
      <netAssetValuePerShare>26.510000000000</netAssetValuePerShare>
    </closedEndManagementInvestment>
    <exchangeSeriesInfo/>
    <attachmentsTab>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
    </attachmentsTab>
    <signature registrantSignedName="FT Vest Hedged Equity Income Fund: Series B1" signedDate="2026-03-16" signature="/s/ Michael Peck" title="President"/>
  </formData>
</edgarSubmission>
