FT Vest U.S. Equity Deep Buffer ETF - September
$49.42+0.01 (+0.02%)
- 0.85%
- $422M
- +12.9%
- 0M sh
- $49.40
- low $43.28high $49.45
The ETF.net DSEP Grade
C
Score 45 out of 100
- 13 of 19
Score 45 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 100Rank 8 of 19Mission
Whether the fund did what it promised, tested against its stated mandate.A92 out of 100Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C47 out of 100Rank 11 of 19Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B68 out of 100Rank 4 of 19Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D38 out of 100Rank 12 of 12Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A74 out of 100Rank 4 of 19
Our read on DSEP
CThe deep-buffer version of owning the S&P 500: DSEP absorbs the first 5% of a drop itself, then shields losses down to -30% over its one-year September period, in exchange for a capped upside.
The Fund seeks to match the price return of the State Street® SPDR® S&P 500® ETF Trust before fees, subject to an 11.43% upside cap and protection against Underlying ETF losses between -5% and -30% during the stated outcome period.
Why people hold it
- Deeper cover than a standard buffer fund: 25 points of downside protection, from -5% to -30% of the underlying S&P 500 ETF's price return, over each one-year outcome period.ftportfolios.com
- September is one rung in First Trust's twelve-month deep buffer ladder (DMAR, DJUN, DDEC and the rest), so start dates can be staggered instead of hinging on one calendar month.
- Running since 2020, with five-plus years of resetting cap and buffer each September, and a 0.85% fee that sits right at the median for deep-buffer funds.
Worth knowing
- The shield starts only after a 5% decline, so everyday dips land in full, and the upside cap is reset each September at whatever the options market will pay.
- 0.85% is above the cheapest end of the category: Pacer's Swan SOS Conservative funds (PSCX, PSCW, PSCQ) run 0.49%.
- Thinly traded and built for price return, not income, so limit orders are worth using and there is no regular distribution stream.
DSEP Holdings
- Other
- 3
- 103%
- 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 7.54
DSEP 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.
DSEP$11,291
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 | DSEP |
|---|---|
| Year to date | +10.0% |
| 1 month | +1.5% |
| 3 months | +3.4% |
| 1 year | +12.9% |
| 3 years | +12.9% |
| 5 years | +9.0% |
| 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 | DSEP |
|---|---|---|
| 2026 YTD | +10.0% | |
| 2025 | +10.8% | |
| 2024 | +11.3% | |
| 2023 | +18.9% | |
| 2022 | −7.4% | |
| 2021 | +6.4% | |
| 2020 | +4.9% |
DSEP in the news
DSEP Dividends
No distributions in the last 12 months.
DSEP Risk
- 6.3%
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.
- 1.24
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.
- −11.8%
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.
- 0.47
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
DSEP Cost
0.85%
DSEP0.85%
- 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.
Other funds in S&P 500 Deep Buffer 25-30%
- CDNOVFT Vest U.S. Equity Deep Buffer ETF - NovemberExpense ratio 0.85%1 year return +14.2%
- CDJUNFT Vest U.S. Equity Deep Buffer ETF - JuneExpense ratio 0.85%1 year return +9.8%
- CDMAYFT Vest U.S. Equity Deep Buffer ETF - MayExpense ratio 0.85%1 year return +10.1%
- CDDECFT Vest U.S. Equity Deep Buffer ETF - DecemberExpense ratio 0.85%1 year return +13.0%
- CDOCTFT Vest U.S. Equity Deep Buffer ETF - OctoberExpense ratio 0.85%1 year return +12.2%