Launched Oct 25, 2023

FT Vest Laddered Moderate Buffer ETF

BUFZCboeFirst TrustC

$28.45−0.05 (−0.18%)

As of Nov 2, 2026, 3:59 PM ET

C48/ 100

Rank 12 of 18 in S&P 500 Laddered Buffer

C48/100Rank 12 of 18inS&P 500 Laddered Buffer

Expense ratio: 0.95%
Fund size: $1.09B
1Y total return: +9.0%
Yield · Last 12 months: No data
Holdings: 13
Avg volume · 30D: 166K sh
52W range: low $25.74high $29.37
Launched: Oct 25, 2023

The ETF.net BUFZ Grade

Based on 5 of 6 pillars

Score 48 out of 100

Category: S&P 500 Laddered Buffer⁠
Rank: 12 of 18

Cost
F24 out of 100
Rank 12 of 18
Mission
Not scored
Risk
B63 out of 100
Rank 5 of 18
Tradability
B61 out of 100
Rank 5 of 18
Holdings
A71 out of 100
Rank 3 of 18
Durability
A73 out of 100
Rank 4 of 18

Our read on BUFZ

ETF.net Research

In short

CBuffer funds usually make you pick a start month and live with it. BUFZ skips the calendar: a ladder of FT Vest moderate-buffer ETFs on staggered outcome periods, so one ticker spreads buffered S&P 500 exposure across the cycle.

Stated mandate

The fund targets capital growth by obtaining U.S. large-cap equity exposure through multiple moderate-buffer ETFs arranged across rolling maturities, with the structure intended to reduce downside risk.

Why people hold it

No entry-date roulette. The ladder holds several moderate-buffer funds at different points in their outcome periods, so the buy date matters less than it does with a single-month buffer fund.ftportfolios.com
One holding does the work of a do-it-yourself ladder. The rolling and rebalancing across maturities happens inside the fund instead of on your calendar.
The underlying exposure is plain vanilla: US large-cap equity referenced to the S&P 500 via SPY, not an exotic custom index.
Size and liquidity are real for a niche structure: a multi-billion-dollar fund that trades actively enough to keep dealing costs from dominating the decision.

Worth knowing

Convenience has a price tag: 0.95% a year, above the buffer-peer median of 0.79%, and above laddered rivals like BUFP (0.50%) and IVVM (0.53%). It sits in the lower half of its peer group.
Laddering blurs the buffer. Each sleeve sits at a different stage of its own period, so you hold a blend of partial buffers and partial caps rather than one clean stated buffer.
Not an income vehicle. The mandate is capital growth with reduced downside risk, and the fund has not been making distributions.

BUFZ Holdings

Holdings pillarA71Rank 3 of 18 in S&P 500 Laddered Buffer

Asset class: Other
Holdings: 13
Top-10 weight: 83%
Largest holding: GOCT8.4%

Sectors

Technology40.1%
Financials11.3%
Communication9.9%
Health Care9.4%
Consumer Discretionary8.7%
Industrials7.6%

Consumer Staples4.4%
Energy3.4%
Utilities1.9%
Real Estate1.7%
Materials1.6%

Geography

United States100.00%

The fund’s holdings, weight-ordered — page 1 of 1.
#	Ticker	Company	Weight %	Shares	Market value	Held by ETFs
1	GOCT	FT Vest U.S. Equity Moderate Buffer ETF - October	8.38%	2,137,308	$91.5M	1
2	GNOV	FT Vest U.S. Equity Moderate Buffer ETF - November	8.37%	2,125,283	$91.4M	1
3	GMAR	FT Vest U.S. Equity Moderate Buffer ETF - March	8.35%	2,013,667	$91.2M	2
4	GDEC	FT Vest U.S. Equity Moderate Buffer ETF - December	8.35%	2,233,328	$91.2M	1
5	GFEB	FT Vest U.S. Equity Moderate Buffer ETF - February	8.34%	2,023,110	$91.1M	1
6	GJAN	FT Vest U.S. Equity Moderate Buffer ETF - January	8.34%	1,976,281	$91.1M	1
7	GSEP	FT Vest U.S. Equity Moderate Buffer ETF - September	8.33%	2,166,472	$91M	1
8	GAPR	FT Vest U.S. Equity Moderate Buffer ETF - April	8.31%	2,135,310	$90.8M	1
9	GJUN	FT Vest U.S. Equity Moderate Buffer ETF - June	8.29%	2,163,893	$90.6M	1
10	GMAY	FT Vest U.S. Equity Moderate Buffer ETF - May	8.29%	2,067,254	$90.5M	1
11	GJUL	FT Vest U.S. Equity Moderate Buffer ETF - July	8.28%	2,036,306	$90.4M	1
12	GAUG	FT Vest U.S. Equity Moderate Buffer ETF - August	8.27%	2,153,745	$90.3M	1
13	No data	US Dollar	0.09%	988,995	$989K	408

Showing 1–13 of 13 holdings

BUFZ Performance

Launched Oct 25, 2023

BUFZ$10,903

$11,199

Oct 31, 2025 – Oct 30, 2026

Trailing total return for BUFZ. Periods over one year show the average yearly return.
Period	BUFZ
Year to date	+7.4%
1 month	−0.1%
3 months	+1.4%
1 year	+9.0%
3 years	per year+12.8%
5 yearsFund is under 5 years old	per yearNo data
10 yearsFund is under 10 years old	per yearNo data

With distributions reinvested.

Annual total returns for BUFZ
Year	Return bar	BUFZ
2026 YTD		+7.4%
2025		+11.1%
2024		+11.5%
2023		+9.2%

History from Oct 27, 2023

BUFZ in the news

Filtered to BUFZ · S&P 500 Laddered Buffer · First Trust

ETF Filings
First Trust sets FSEP's new cap at 16.68% as September buffers roll
Sep 22, 2026FSEP−0.37%
ETF Filings
First Trust files an autocallable ETF that can still lose the whole amount
13 hours agoACYN−0.16%
ETF Filings
Roundhill files for an active cybersecurity ETF filing, and the fee is still blank
14 hours agoXA−5.26%
Category Review
The largest option-income fund beat the S&P 500 by selling calls on a quarter of its assets
Updated Oct 30, 2026RDVI+0.78%
Deep Dive
Amazon and Tesla are 41.6% of consumer discretionary ETF XLY
Oct 28, 2026XLY+2.41%
ETF Filings
First Trust files four 15% dual directional buffer ETFs for 2027
Oct 27, 2026SPY−0.47%

BUFZ Dividends

: No dataLast 12 months
Payout per share: No dataLast 12 months

No distributions in the last 12 months.

BUFZ Risk

Risk pillarB63Rank 5 of 18 in S&P 500 Laddered Buffer

: 5.4%; Annualised · 36 months to Oct 2026; 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.
: 1.46; vs 3-month T-bills · to Oct 2026; 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.
: −10.1%; 36 months · trough Apr 2025; 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.
: 0.42; vs its asset-class index; How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.

BUFZ Cost

Compare BUFZ and ALDB

Overpaying vs ALDB, cheapest in S&P 500 Laddered Buffer

$11,720

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BUFZ 0.95%
$17,869
ALDB 0.30% Cheapest
$6,149

Amount$10,000

Years30 years

Cost over time

BUFZ 0.95%
ALDB 0.30%
Overpaying

Year by year

Year	BUFZ	ALDB	Overpaying
10	$1,678	$545	$1,133
20	$6,322	$2,113	$4,209
30	$17,869	$6,149	$11,720

Other funds in S&P 500 Laddered Buffer

CSPBXAllianzIM 6 Month Buffer10 Allocation ETFExpense ratio 0.79%1 year return +9.6%
CBFRZInnovator Equity Managed 100 Buffer ETFExpense ratio 0.89%1 year return +0.3%
CBUFBInnovator Laddered Allocation Buffer ETFExpense ratio 0.89%1 year return +11.2%
CLADMPacer Swan SOS Laddered Moderate ETFExpense ratio 0.59%1 year return No data
DBUFTFT Vest Buffered Allocation Defensive ETFExpense ratio 1.21%1 year return +8.9%

See others

FT Vest Laddered Moderate Buffer ETF

Cost

Mission

Risk

Tradability

Holdings

Durability