Skip to content
etf.net

DAPR

GradeCChicago Board Options Exchange

FT Vest U.S. Equity Deep Buffer ETF - April

Buffered · First Trust · Inception 2021-04-16 · SEC filings

$41.77−0.11 (−0.26%)

As of Sep 23, 2026, 1:51 PM EDT

Intraday session: down, 32 prints from 41.88 to 41.77. Range 41.75 to 41.87. Use the arrow keys to read each point.$41.75$41.80$41.8510 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$325M
1Y return
+8.4%
Yield · Last 12 months
—
Holdings
4
Volume · 30D
0M sh
NAV per share
$41.87
52W range
low $38.47high $41.92

The ETF.net DAPR Grade

C

41/ 100

Rank 17 of 19 in S&P 500 Deep Buffer 25-30%⁠

Confidence Medium

Six-pillar profile for DAPR. Scores out of 100: Cost 31, Risk 53, Mission not scored, Tradability 34, Holdings 65, Durability 41. Strongest: Holdings (65). Weakest: Cost (31). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 41 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 31
    Category rank8/19 · top 42%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 53
    Category rank7/18 · top 39%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 34
    Category rank13/19 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 65
    Category rank4/12 · top 33%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 41
    Category rank13/19 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on DAPR

ETF.net Research

CMost buffer funds cushion the first 10% of a drop. This one skips that and guards the deeper stretch: you take the first 5% of an S&P 500 slide, the fund targets -5% through -30%. April is its rung on First Trust's monthly ladder.

Stated mandate

The Fund seeks to match the price return of the State Street® SPDR® S&P 500® ETF Trust before fees and expenses, subject to a 12.04% upside cap. It seeks to buffer losses from -5% through -30% during the April 20, 2026-April 16, 2027 target outcome period.

Why people hold it

  1. 01Deep-buffer geometry: over each one-year period it seeks to offset S&P 500 losses from -5% through -30%, the zone where a correction becomes a bear market, in exchange for a preset upside cap.ftportfolios.com
  2. 02Resets every April with a fresh cap and a fresh buffer, and it has a sibling for all twelve calendar months, so the series can be laddered instead of timed.
  3. 03The engine is FLEX options on the SPDR S&P 500 ETF Trust: customized, exchange-traded contracts with terms written to match the fund's outcome period.ftportfolios.com
  4. 04The 0.85% fee sits right at the middle of its deep-buffer peer group.

Worth knowing

  1. 01The buffer is not a floor. The first 5% of a decline is yours, and past -30% losses resume one for one.ftportfolios.com
  2. 02Cap and buffer are struck for the April-to-April period. Buy mid-period and your own upside room and cushion differ from the headline terms.ftportfolios.com
  3. 03Cheaper deep-buffer wrappers exist: Pacer's Swan SOS Conservative funds (PSCW, PSCX) charge 0.49%.

DAPR Holdings

As of Sep 21, 2026, 5:45 PM
Asset class
Other
Holdings
4
Top-10 weight
104%
Largest holding
2027-04-16 State Street® SPDR® S&P 500® ETF Trust C 7.09101.5%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—2027-04-16 State Street® SPDR® S&P 500® ETF Trust C 7.09101.50%4,362$328M1
002—2027-04-16 State Street® SPDR® S&P 500® ETF Trust P 674.631.52%4,362$5M1
003—US Dollar0.76%2,439,477$2M394

Showing 1–3 of 3 holdings

DAPR Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

DAPR$10,843
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. DAPR $10,843. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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.

Trailing total return for DAPR. Periods over one year show the average yearly return.
PeriodDAPR
Year to date+6.4%
1 month+0.8%
3 months+2.6%
1 year+8.4%
3 years+11.2%per year
5 years+6.3%per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DAPR
YearReturn barDAPR
2026 YTD+6.4%
2025+5.8%
2024+15.0%
2023+9.8%
2022−6.8%
2021+5.3%

History from Apr 19, 2021

DAPR in the news

ETF.net Research hasn’t filed on DAPR yet — coverage lands here as it’s written.

DAPR Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

DAPR Risk

How much the fund’s monthly returns vary, scaled to a year.
5.1%
Annualised · 36 months to Aug 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.

Return above 3-month US Treasury bills per unit of volatility.
1.07
vs 3-month T-bills · to Aug 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.

The largest fall from a peak to the low that followed.
−10.5%
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.

How strongly the fund’s returns move with its asset-class index.
0.29
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.

DAPR Cost

Expense ratio0.85%
  • The middle half of S&P 500 Deep Buffer 25-30% funds
  • Median 0.85%

7 of the 19 S&P 500 Deep Buffer 25-30% funds charge less.

DAPR costs $85.00 a year on $10,000. The median S&P 500 Deep Buffer 25-30% fund costs $85.00.