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Launched · SEC filings

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

DAPRCboeFirst TrustC

$41.56−0.14 (−0.35%)

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

C40/ 100

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

C40/100Rank 17 of 19inS&P 500 Deep Buffer 25-30%
Intraday session: down, 79 prints from 41.71 to 41.56. Range 41.56 to 41.91. Use the arrow keys to read each point.41.8041.9010 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$334M
1Y total return
+7.5%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
8.05K sh
52W range
low $38.59high $42.17
Launched
Filings
SEC EDGAR

The ETF.net DAPR Grade

Based on 5 of 6 pillars

C

Score 40 out of 100

Category
S&P 500 Deep Buffer 25-30%⁠
Rank
17 of 19
Six-pillar profile for DAPR. Scores out of 100: Cost 31, Risk 53, Mission not scored, Tradability 33, Holdings 65, Durability 41. Strongest: Holdings (65). Weakest: Cost (31). Based on 5 of 6 pillars.

Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D31 out of 100
    Rank 8 of 19

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C53 out of 100
    Rank 7 of 19

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D33 out of 100
    Rank 15 of 19

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B65 out of 100
    Rank 4 of 12

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C41 out of 100
    Rank 13 of 19

Our read on DAPR

ETF.net Research

In short

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

  • Deep-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
  • Resets 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.
  • The 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
  • The 0.85% fee sits right at the middle of its deep-buffer peer group.

Worth knowing

  • The buffer is not a floor. The first 5% of a decline is yours, and past -30% losses resume one for one.ftportfolios.com
  • Cap 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
  • Cheaper deep-buffer wrappers exist: Pacer's Swan SOS Conservative funds (PSCW, PSCX) charge 0.49%.

DAPR Performance

Launched Apr 16, 2021

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.
DAPR$10,750
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. DAPR $10,750. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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+6.0%
1 month−0.1%
3 months+1.5%
1 year+7.5%
3 yearsper year+11.6%
5 yearsper year+5.9%
10 yearsFund is under 10 years oldper yearNo data

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+6.0%
2025+5.8%
2024+15.0%
2023+9.8%
2022−6.8%
2021+5.3%

History from Apr 19, 2021

DAPR in the news

DAPR Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

DAPR Risk

Risk pillarC53 out of 100Rank 7 of 19 in S&P 500 Deep Buffer 25-30%
How much the fund’s monthly returns vary, scaled to a year.
4.7%
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.

Return above 3-month US Treasury bills per unit of volatility.
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.

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.

FMP measures it over up to five years of monthly returns.

DAPR Cost

Compare DAPR and CTJL

Overpaying vs CTJL, tied cheapest in S&P 500 Deep Buffer 25-30%

$10,050

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

  • DAPR 0.85%

    $16,199

  • CTJL 0.30% Tied cheapest

    $6,149

$10,000
30 years

Cost over time

  • DAPR 0.85%
  • CTJL 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DAPR $16,199CTJL $6,149

Year by year

YearDAPRCTJLOverpaying
10$1,508$545$963
20$5,706$2,113$3,593
30$16,199$6,149$10,050

Other funds in S&P 500 Deep Buffer 25-30%

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