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Launched · SEC filings

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

DFEBCboeFirst TrustC

$51.53−0.11 (−0.21%)

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

C54/ 100

Rank 4 of 19 in S&P 500 Deep Buffer 25-30%

C54/100Rank 4 of 19inS&P 500 Deep Buffer 25-30%
Intraday session: down, 78 prints from 51.65 to 51.53. Range 51.52 to 51.91. Use the arrow keys to read each point.51.6051.7051.8051.9010 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$456M
1Y total return
+10.2%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
13.6K sh
52W range
low $46.16high $52.15
Launched
Filings
SEC EDGAR

The ETF.net DFEB Grade

Based on 5 of 6 pillars

C

Score 54 out of 100

Category
S&P 500 Deep Buffer 25-30%⁠
Rank
4 of 19
Six-pillar profile for DFEB. Scores out of 100: Cost 31, Risk 66, Mission not scored, Tradability 77, Holdings 63, Durability 74. Strongest: Tradability (77). Weakest: Cost (31). Based on 5 of 6 pillars.

Score 54 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.
    B66 out of 100
    Rank 2 of 19

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A77 out of 100
    Rank 3 of 19

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B63 out of 100
    Rank 5 of 12

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A74 out of 100
    Rank 4 of 19

Our read on DFEB

ETF.net Research

In short

CA buffer with a deductible. DFEB lets the first 5% of a drop in the SPDR S&P 500 ETF Trust land on you, then covers the next 25 points, in exchange for an upside cap that resets every February.

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 an 11.87% upside cap, while protecting against Underlying ETF losses from -5% through -30% during the February 23, 2026–February 19, 2027 outcome period.

Why people hold it

  • Deep coverage where it hurts: the fund targets protection against reference-ETF losses from -5% through -30%, a 25-point band, over each one-year outcome period.
  • One of twelve monthly vintages on the same reference ETF (DMAR, DJUN, DDEC and the rest), so entries can be laddered across the calendar instead of hinging on one start date.
  • Running since 2020, it has rolled through several full outcome periods, and it sits in the upper half of its deep-buffer peer group.
  • At 0.85%, the fee sits right at the median for deep-buffer funds tracking this kind of strategy.

Worth knowing

  • The trade for depth: you absorb the first 5% of losses yourself, and gains stop at a cap that is reset each February from option pricing at the time.
  • It tracks price return only, so the reference ETF's dividends are not passed along, and the fund has not been paying distributions.
  • Cheaper deep-buffer options exist (PSCX and PSCW run 0.49%), and DFEB trades lightly, so limit orders are the sane way in and out.

DFEB Performance

Launched Feb 21, 2020

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.
DFEB$11,015
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. DFEB $11,015. 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 DFEB. Periods over one year show the average yearly return.
PeriodDFEB
Year to date+8.2%
1 month+0.1%
3 months+1.7%
1 year+10.2%
3 yearsper year+14.6%
5 yearsper year+8.1%
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 DFEB
YearReturn barDFEB
2026 YTD+8.2%
2025+11.8%
2024+13.9%
2023+12.5%
2022−5.4%
2021+8.8%
2020+6.8%

History from Feb 24, 2020

DFEB in the news

DFEB Dividends

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

No distributions in the last 12 months.

DFEB Risk

Risk pillarB66 out of 100Rank 2 of 19 in S&P 500 Deep Buffer 25-30%
How much the fund’s monthly returns vary, scaled to a year.
6.1%
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.
1.57
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.
−10.0%
Trough Mar 2023
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.
0.50
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.

DFEB Cost

Compare DFEB 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.

  • DFEB 0.85%

    $16,199

  • CTJL 0.30% Tied cheapest

    $6,149

$10,000
30 years

Cost over time

  • DFEB 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$20K051015202530DFEB $16,199CTJL $6,149

Year by year

YearDFEBCTJLOverpaying
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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