FT Vest U.S. Equity Buffer ETF - April
$48.35−0.01 (−0.03%)
- 0.85%
- $1.3B
- +11.7%
- 0M sh
- $48.38
- low $43.27high $48.43
The ETF.net FAPR Grade
C
Score 47 out of 100
- 42 of 77
Score 47 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.F11 out of 100Rank 60 of 77Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B67 out of 100Rank 13 of 76Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A77 out of 100Rank 11 of 77Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B65 out of 100Rank 10 of 44Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A82 out of 100Rank 15 of 77
Our read on FAPR
COne of twelve First Trust buffer funds, each keyed to a different start month. The April vintage uses SPY options to absorb the first 10% of a decline over its one-year outcome period, trading that cushion for a ceiling on gains that resets every April.
The Fund seeks to track the price return of the State Street® SPDR® S&P 500® ETF Trust, subject to a 15.16% upside cap and protection against the first 10% of losses during the current outcome period.
Why people hold it
- The bargain is explicit: FLEX options on SPY absorb the first 10% of a drop over the outcome period, in exchange for a cap on the upside.ftportfolios.com
- Perpetual structure. At each period's end the cap resets to prevailing market conditions and the fund rolls on, so there is no maturity date to manage.businesswire.com
- Part of a twelve-fund monthly ladder (FJAN through FDEC), so an outcome period can be started in any month rather than only in April.
- Sizable for a buffer fund, trading regularly, with a live record back to its 2021 launch and several completed outcome periods behind it.
Worth knowing
- At 0.85% a year it runs above the typical fund in its buffer peer group, and some alternatives such as BUFB charge a small fraction of that.
- The 10% buffer is measured before fees and only across the full period. Buying mid-period means whatever cushion and upside remain, not the headline terms.businesswire.com
- It targets SPY's price return through options, so S&P 500 dividends do not pass through and the fund has not been making distributions.ftportfolios.com
FAPR Holdings
- Other
- 3
- 103%
- 2027-04-16 State Street® SPDR® S&P 500® ETF Trust C 7.10
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%
FAPR 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.
FAPR$11,175
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 | FAPR |
|---|---|
| Year to date | +8.9% |
| 1 month | +1.3% |
| 3 months | +2.8% |
| 1 year | +11.7% |
| 3 years | +14.1% |
| 5 years | +9.2% |
| 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 | FAPR |
|---|---|---|
| 2026 YTD | +8.9% | |
| 2025 | +7.6% | |
| 2024 | +18.1% | |
| 2023 | +19.5% | |
| 2022 | −10.3% | |
| 2021 | +8.6% |
FAPR in the news
Filings Digest
AllianzIM launches OCTI and resets October buffer terms
FAPR Dividends
No distributions in the last 12 months.
FAPR Risk
- 5.8%
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.
- 1.55
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.
- −16.0%
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.
- 0.38
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FAPR Cost
0.85%
FAPR0.85%
- The middle half of S&P 500 Buffer 9-12% funds
- Median 0.79%
59 of the 77 S&P 500 Buffer 9-12% funds charge less.
Other funds in S&P 500 Buffer 9-12%
- CFFEBFT Vest U.S. Equity Buffer ETF - FebruaryExpense ratio 0.85%1 year return +16.2%
- CFMARFT Vest U.S. Equity Buffer ETF - MarchExpense ratio 0.85%1 year return +17.3%
- CFAUGFT Vest U.S. Equity Buffer ETF - AugustExpense ratio 0.85%1 year return +14.1%
- CFMAYFT Vest U.S. Equity Buffer ETF - MayExpense ratio 0.85%1 year return +12.5%
- CFDECFT Vest U.S. Equity Buffer ETF - DecemberExpense ratio 0.85%1 year return +16.3%