FT Vest U.S. Equity Moderate Buffer ETF - September
$42.58+0.03 (+0.07%)
- 0.85%
- $364M
- +13.0%
- 0.1M sh
- $42.57
- low $37.40high $42.68
The ETF.net GSEP Grade
C
Score 42 out of 100
- 32 of 61
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 100Rank 47 of 61Mission
Whether the fund did what it promised, tested against its stated mandate.A92 out of 100Rank 3 of 5Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C50 out of 100Rank 24 of 57Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A74 out of 100Rank 5 of 59Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C53 out of 100Rank 20 of 33Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A77 out of 100Rank 13 of 61
Our read on GSEP
CA one-year hedge on a September clock: GSEP absorbs the first 15% of the decline in the big S&P 500 ETF it references, and trades that cushion for a cap on the upside. It's the September rung of First Trust's twelve-month moderate buffer ladder.
The Fund seeks to match the price return of the State Street® SPDR® S&P 500® ETF Trust, subject to a predetermined upside cap and protection against the first 15% of losses during the stated outcome period.
Why people hold it
- The cushion is written into the strategy, not left to a manager's judgment: the first 15% of the reference ETF's price decline over the outcome period is absorbed by the options package.ftportfolios.com
- Eleven dated siblings (GJAN through GDEC) run the same 15% recipe on different start months, so entries can be staggered instead of hinging on one September reset.
- It references SPY itself rather than an index, and holds a few hundred million dollars with steady two-way trading, so getting in and out is among the smoother experiences in its buffer group.
Worth knowing
- 0.85% a year, above what the typical fund in this buffer group charges. That fee comes out of an upside that is capped to begin with.
- The mandate follows SPY's price return, so S&P 500 dividends are not part of your return. That forgone income is part of what funds the buffer.
- Buffer and cap are set for a full outcome period, September to September. Buy mid-period and you get whatever cushion and headroom remain, not the headline terms.
GSEP Holdings
- Other
- 3
- 104%
- 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 7.77
Sectors
- Technology38.5%
- Financials12.1%
- Communication9.6%
- Consumer Discretionary9.3%
- Health Care9.3%
- Industrials7.8%
- Consumer Staples4.5%
- Energy3.4%
- Utilities2.0%
- Real Estate1.8%
- Materials1.7%
GSEP 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.Not enough history yet.
GSEP$11,298
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 | GSEP |
|---|---|
| Year to date | +9.8% |
| 1 month | +1.4% |
| 3 months | +3.3% |
| 1 year | +13.0% |
| 3 years | +12.5% |
| 5 years | — |
| 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 | GSEP |
|---|---|---|
| 2026 YTD | +9.8% | |
| 2025 | +10.6% | |
| 2024 | +10.9% | |
| 2023 | +4.7% |
GSEP in the news
GSEP Dividends
No distributions in the last 12 months.
GSEP Risk
- 5.9%
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.
- 1.29
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.
- −10.1%
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.
- 0.46
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
GSEP Cost
0.85%
GSEP0.85%
- The middle half of S&P 500 Buffer 15% funds
- Median 0.79%
36 of the 51 S&P 500 Buffer 15% funds charge less.
Other funds in S&P 500 Buffer 15%
- CGJULFT Vest U.S. Equity Moderate Buffer ETF - JulyExpense ratio 0.85%1 year return +12.0%
- CGMAYFT Vest U.S. Equity Moderate Buffer ETF - MayExpense ratio 0.85%1 year return +10.4%
- CJULUAIM ETF Products Trust - AllianzIM U.S. Equity Buffer15 Uncapped Jul ETFExpense ratio 0.74%1 year return +13.9%
- CGAUGFT Vest U.S. Equity Moderate Buffer ETF - AugustExpense ratio 0.85%1 year return +11.4%
- CGFEBFT Vest U.S. Equity Moderate Buffer ETF - FebruaryExpense ratio 0.85%1 year return +12.8%