FT Vest Bitcoin Strategy Floor15 ETF - April
$16.160.00 (0.00%)
- 0.90%
- $1M
- −20.7%
- 0M sh
- $16.16
- low $13.69high $24.40
The ETF.net BFAP Grade
D
Score 25 out of 100
- 19 of 24
Score 25 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Very small fund, grade capped at C.
The cap holds the Score at 40 or below, so B and A are out of reach.
- The pillars earned
- 26
- This cap took
- −0
- Published Score
- 25
Cost
The fund’s net expense ratio, ranked against its category.F22 out of 100Rank 17 of 24Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F11 out of 100Rank 23 of 24Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C42 out of 100Rank 18 of 24Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C51 out of 100Rank 5 of 10Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C43 out of 100Rank 18 of 24
Our read on BFAP
DBitcoin with guardrails. BFAP wraps bitcoin-linked exposure in a defined-outcome structure: 15 points of downside protection plus an upside cap, both set for a one-year period starting each April. You give up the top of a rally for a cushion under the drop.
The Fund seeks to match the price return of a bitcoin-referencing asset up to a predetermined upside cap, while limiting its maximum loss from that reference instrument to 15% over the current target outcome period.
Why people hold it
- The trade-off is spelled out in advance: 15 points of downside protection and a stated upside cap, fixed for the full one-year outcome period.ftportfolios.com
- At 0.90%, it undercuts the median expense ratio in its bitcoin-derivatives peer group and matches its October-vintage sibling, BFOC.
- Exposure runs through a Bitcoin Reference Instrument inside an ETF wrapper, so there are no wallets, keys or crypto exchange accounts in the picture.ftportfolios.com
- The April start date is the point: First Trust runs the same strategy on staggered annual cycles, and the October twin BFOC resets its terms on a different calendar.
Worth knowing
- The cap is what pays for the cushion. Gains above it don't accrue, and the stated terms measure over the whole outcome period, not from whatever day you happen to buy.ftportfolios.com
- One of the smaller, thinner-traded names in its niche, which can show up as wider bid-ask spreads.
- Launched in 2025, so the live record is short, and the protection is re-engineered each period rather than running continuously.
BFAP Holdings
- Other
- 5
- 1131%
- 2027-04-09 S&P 500® Mini Index P 2,599.16
BFAP Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
BFAP$7,934
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | BFAP |
|---|---|
| Year to date | −10.7% |
| 1 month | +4.2% |
| 3 months | +13.6% |
| 1 year | −20.7% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | BFAP |
|---|---|---|
| 2026 YTD | −10.7% | |
| 2025 | +6.1% |
BFAP in the news
BFAP Dividends
- $3.44 per share
- Irregular
Distribution data unavailable.
Distribution history
BFAP Risk
- 21.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.41
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −34.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.07
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
BFAP Cost
0.90%
BFAP0.90%
- The middle half of Other Floor Protected funds
- Median 0.79%
11 of the 18 Other Floor Protected funds charge less.
Other funds in Other Floor Protected
- DBFOCFT Vest Bitcoin Strategy Floor15 ETF - OctoberExpense ratio 0.90%1 year return −15.7%
- DARKEARK ETF Trust - ARK DIET Q3 Buffer ETFExpense ratio 0.89%1 year return —
- DBFJLFT Vest Bitcoin Strategy Floor15 ETF - JulyExpense ratio 0.90%1 year return −6.5%
- FKPROKraneShares 100% KWEB Defined Outcome January 2027 ETFExpense ratio 1.00%1 year return −6.4%
- FBFJAFT Vest Bitcoin Strategy Floor15 ETF - JanuaryExpense ratio 0.90%1 year return —