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Launched · SEC filings

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

GFEBCboeFirst TrustC

$44.93−0.10 (−0.22%)

As of Nov 2, 2026, 3:57 PM ET

C41/ 100

Rank 38 of 61 in S&P 500 Buffer 15%

C41/100Rank 38 of 61inS&P 500 Buffer 15%
Intraday session: down, 78 prints from 45.03 to 44.93. Range 44.93 to 45.23. Use the arrow keys to read each point.45.1045.1545.2045.2510 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$369M
1Y total return
+10.2%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
11.7K sh
52W range
low $40.32high $45.49
Launched
Filings
SEC EDGAR

The ETF.net GFEB Grade

Based on 5 of 6 pillars

C

Score 41 out of 100

Category
S&P 500 Buffer 15%⁠
Rank
38 of 61
Six-pillar profile for GFEB. Scores out of 100: Cost 13, Risk 56, Mission not scored, Tradability 63, Holdings 60, Durability 75. Strongest: Durability (75). Weakest: Cost (13). Based on 5 of 6 pillars.

Score 41 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.
    B56 out of 100
    Rank 18 of 60

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B63 out of 100
    Rank 17 of 61

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B60 out of 100
    Rank 14 of 34

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A75 out of 100
    Rank 15 of 61

Our read on GFEB

ETF.net Research

In short

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

  • Absorbs 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
  • What'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.
  • February 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.
  • Each 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

  • 0.85% a year sits above the typical buffer-fund fee, and some rivals go far lower: the laddered BUFF lists 0.10%.
  • The 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.
  • Trades 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 Performance

Launched Feb 17, 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.
GFEB$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. GFEB $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 GFEB. Periods over one year show the average yearly return.
PeriodGFEB
Year to date+8.4%
1 month0.0%
3 months+1.6%
1 year+10.2%
3 yearsper year+14.1%
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 GFEB
YearReturn barGFEB
2026 YTD+8.4%
2025+11.2%
2024+13.0%
2023+13.8%

History from Feb 21, 2023

GFEB in the news

GFEB Dividends

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

No distributions in the last 12 months.

GFEB Risk

Risk pillarB56 out of 100Rank 18 of 60 in S&P 500 Buffer 15%
How much the fund’s monthly returns vary, scaled to a year.
6.0%
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.
1.50
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.
−9.6%
44 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.
0.45
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.

GFEB Cost

Compare GFEB 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.

  • GFEB 0.85%

    $16,199

  • CAUG 0.30% Tied cheapest

    $6,149

$10,000
30 years

Cost over time

  • GFEB 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$20K051015202530GFEB $16,199CAUG $6,149

Year by year

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

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