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GFEB

GradeCChicago Board Options Exchange

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

Buffered · First Trust · Inception 2023-02-17 · SEC filings

$45.07−0.09 (−0.20%)

As of Sep 23, 2026, 2:19 PM EDT

History starts Feb 21, 2023.
Intraday session: down, 32 prints from 45.16 to 45.07. Range 45.05 to 45.15. Use the arrow keys to read each point.$45.04$45.12$45.1610 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$383M
1Y return
+11.5%
Yield · Last 12 months
—
Holdings
4
Volume · 30D
0M sh
NAV per share
$45.14
52W range
low $40.23high $45.34

The ETF.net GFEB Grade

C

42/ 100

Rank 34 of 61 in S&P 500 Buffer 15%⁠

Confidence Medium

Six-pillar profile for GFEB. Scores out of 100: Cost 13, Risk 55, Mission not scored, Tradability 67, Holdings 63, Durability 75. Strongest: Durability (75). Weakest: Cost (13). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 42 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 13
    Category rank50/61 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 55
    Category rank21/57 · top 37%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 67
    Category rank14/61 · top 23%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 63
    Category rank10/32 · top 31%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 75
    Category rank16/61 · top 26%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on GFEB

ETF.net Research

CA one-year seatbelt on the S&P 500: GFEB soaks up the first 15% of losses over its outcome period, and in exchange your upside stops at a cap that gets reset every February.

Stated mandate

The Fund seeks to match the price return of the State Street® SPDR® S&P 500® ETF Trust up to a 12.05% upside cap, while buffering the first 15% of losses over the February 23, 2026–February 19, 2027 outcome period.

Why people hold it

  1. 01Absorbs the first 15% of losses on the SPDR S&P 500 ETF Trust over each one-year outcome period, a cushion written into the fund's terms rather than left to a manager's judgment.ftportfolios.com
  2. 02What's being buffered is plain vanilla US large cap, the S&P 500 via the SPDR trust, not a bespoke index engineered around the options math.
  3. 03February is simply this fund's gate. First Trust runs the same 15% structure across a dozen reset months (GJAN, GMAR, GJUN and the rest), so entry dates can be staggered.
  4. 04Each February the outcome period rolls into a fresh one with a new cap and a new 15% buffer, so there is no options expiry for a shareholder to roll by hand.

Worth knowing

  1. 010.85% a year sits above the typical buffer-fund fee, and some rivals go far lower: the laddered BUFF lists 0.10%.
  2. 02The upside ceiling is the price of the cushion: gains stop at the cap, and both cap and buffer are measured over the full period, not from a mid-period purchase.
  3. 03Trades lightly next to the largest buffer funds, so spreads deserve attention. It has also made no distributions in the past year; any return shows up in the price.

GFEB Holdings

As of Sep 21, 2026, 5:44 PM
Asset class
Other
Holdings
4
Top-10 weight
104%
Largest holding
2027-02-19 State Street® SPDR® S&P 500® ETF Trust C 6.91102.6%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—2027-02-19 State Street® SPDR® S&P 500® ETF Trust C 6.91102.58%5,190$391M1
002—2027-02-19 State Street® SPDR® S&P 500® ETF Trust P 689.451.30%5,190$5M1
003—US Dollar0.61%2,337,140$2M394

Showing 1–3 of 3 holdings

GFEB Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

GFEB$11,145
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. GFEB $11,145. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 GFEB. Periods over one year show the average yearly return.
PeriodGFEB
Year to date+8.7%
1 month+0.9%
3 months+2.9%
1 year+11.5%
3 years+13.5%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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 GFEB
YearReturn barGFEB
2026 YTD+8.7%
2025+11.2%
2024+13.0%
2023+13.8%

History from Feb 21, 2023

GFEB in the news

ETF.net Research hasn’t filed on GFEB yet — coverage lands here as it’s written.

GFEB Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

GFEB Risk

How much the fund’s monthly returns vary, scaled to a year.
6.5%
Annualised · 36 months to Aug 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.
1.16
vs 3-month T-bills · to Aug 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.
−9.6%
43 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.
0.48
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.

GFEB Cost

Expense ratio0.85%
  • The middle half of S&P 500 Buffer 15% funds
  • Median 0.79%

35 of the 50 S&P 500 Buffer 15% funds charge less.

GFEB costs $85.00 a year on $10,000. The median S&P 500 Buffer 15% fund costs $79.00.