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Launched

FT Vest U.S. Equity Moderate Buffer ETF - December

GDECCboeFirst TrustC

$40.73−0.09 (−0.22%)

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

C42/ 100

Rank 33 of 61 in S&P 500 Buffer 15%

C42/100Rank 33 of 61inS&P 500 Buffer 15%
Intraday session: down, 78 prints from 40.82 to 40.73. Range 40.73 to 41.06. Use the arrow keys to read each point.40.9040.9541.0041.0510 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$426M
1Y total return
+10.2%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
41K sh
52W range
low $36.35high $41.19
Launched

The ETF.net GDEC Grade

Based on 5 of 6 pillars

C

Score 42 out of 100

Category
S&P 500 Buffer 15%⁠
Rank
33 of 61
Six-pillar profile for GDEC. Scores out of 100: Cost 13, Risk 42, Mission not scored, Tradability 86, Holdings 58, Durability 69. Strongest: Tradability (86). Weakest: Cost (13). Based on 5 of 6 pillars.

Score 42 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.
    F13 out of 100
    Rank 47 of 61

  • 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.
    C42 out of 100
    Rank 47 of 60

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A86 out of 100
    Rank 1 of 61

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B58 out of 100
    Rank 17 of 34

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B69 out of 100
    Rank 25 of 61

Our read on GDEC

ETF.net Research

In short

CThe December door into First Trust's moderate-buffer lineup: 15% of downside on the SPDR S&P 500 ETF Trust absorbed over a one-year outcome period, in exchange for an upside cap reset each December.

Stated mandate

The Fund seeks returns matching the price return of the stated S&P 500 ETF, subject to a 12.08% upside cap and protection against the first 15% of losses during the specified outcome period.

Why people hold it

  • Absorbs the first 15% of a decline in the SPDR S&P 500 ETF Trust over each outcome period, the middle setting between shallow and deep buffers.
  • The clock resets every December, and sibling funds run the same design in other months, so a ladder can be built without picking one start date.
  • The reference asset is plain large-cap US equity, not a niche index. All the shaping happens in the options overlay wrapped around it.

Worth knowing

  • Fees run 0.85% a year against a 0.79% median for buffer peers, and the laddered BUFF charges 0.10%. Cost is the main gap in this group.
  • Upside stops at a cap set fresh each December, and the fund follows price return, so S&P 500 dividends stay outside the deal.
  • Thinly traded next to the category's largest buffer funds, which puts more weight on limit orders and avoiding the open and close.

GDEC Performance

Launched Dec 15, 2023

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.Not enough history yet.Not enough history yet.
GDEC$11,021
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. GDEC $11,021. 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 GDEC. Periods over one year show the average yearly return.
PeriodGDEC
Year to date+7.9%
1 month0.0%
3 months+1.7%
1 year+10.2%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
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 GDEC
YearReturn barGDEC
2026 YTD+7.9%
2025+12.1%
2024+11.5%
2023+0.5%

History from Dec 18, 2023

GDEC in the news

GDEC Dividends

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

No distributions in the last 12 months.

GDEC Risk

Risk pillarC42 out of 100Rank 47 of 60 in S&P 500 Buffer 15%
How much the fund’s monthly returns vary, scaled to a year.
5.2%
Annualised · 34 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.
1.22
vs 3-month T-bills · 34 months 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.
−10.6%
34 months · 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.
0.42
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.

GDEC Cost

Compare GDEC and CAUG

Overpaying vs CAUG, tied cheapest in S&P 500 Buffer 15%

$10,050

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

  • GDEC 0.85%

    $16,199

  • CAUG 0.30% Tied cheapest

    $6,149

$10,000
30 years

Cost over time

  • GDEC 0.85%
  • CAUG 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$20K051015202530GDEC $16,199CAUG $6,149

Year by year

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

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