FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September
$45.66+0.04 (+0.08%)
- 0.85%
- $99M
- +10.7%
- 0M sh
- $45.66
- low $41.13high $45.71
The ETF.net XSEP Grade
C
Score 52 out of 100
- 3 of 7
Score 52 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.D39 out of 100Rank 2 of 7Mission
Whether the fund did what it promised, tested against its stated mandate.A91 out of 100Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C51 out of 100Rank 3 of 6Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A78 out of 100Rank 1 of 7Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C53 out of 100Rank 5 of 5Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B66 out of 100Rank 3 of 7
Our read on XSEP
CMost buffer ETFs trade away upside for protection. XSEP doubles it: about 2x the price move of the S&P 500 ETF it references, up to a yearly cap, with the first 15% of losses absorbed.
The Fund seeks about twice the positive price return of the State Street SPDR S&P 500 ETF Trust, subject to a 9.58% upside cap, while protecting the first 15% of losses during the September 22, 2025–September 18, 2026 outcome period.
Why people hold it
- The "enhance" is literal: the fund aims for roughly 2x any positive price move in the S&P 500 ETF it references, up to a cap set when each September period starts.ftportfolios.com
- Downside first: it absorbs the reference ETF's first 15% of losses, before fees, across the one-year outcome period.sec.gov
- A 1940 Act ETF built on FLEX options rather than a bank-issued note, so no issuer credit risk, and you can trade it any market day.sec.gov
- One of twelve monthly-dated siblings in First Trust's Enhance & Moderate lineup, so a fresh cap and a reset 15% buffer arrive every September.ftportfolios.com
Worth knowing
- The doubled upside is paid for with a ceiling: above the cap you stop participating. Cap and buffer are calibrated for holders of the full September-to-September period.sec.gov
- It follows price return only, so the S&P 500's dividends sit outside the math.sec.gov
- The 0.85% expense ratio prices above the median of its buffer-ETF peer group, and the fund is thinly traded, so limit orders earn their keep.
XSEP Holdings
- Other
- 4
- 115%
- 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 7.69
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%
XSEP Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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XSEP$11,074
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 | XSEP |
|---|---|
| Year to date | +7.7% |
| 1 month | +1.2% |
| 3 months | +2.4% |
| 1 year | +10.7% |
| 3 years | +10.1% |
| 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 | XSEP |
|---|---|---|
| 2026 YTD | +7.7% | |
| 2025 | +8.9% | |
| 2024 | +8.4% | |
| 2023 | +16.1% | |
| 2022 | +2.8% |
XSEP in the news
XSEP Dividends
No distributions in the last 12 months.
XSEP Risk
- 4.6%
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.
- 1.15
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.
- −9.2%
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.
- 0.35
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
XSEP Cost
0.85%
XSEP0.85%
- The middle half of S&P 500 Accelerated, 15% Buffer funds
- Median 0.85%
1 of the 7 S&P 500 Accelerated, 15% Buffer funds charge less.
Other funds in S&P 500 Accelerated, 15% Buffer
- BXMARFT Vest U.S. Equity Enhance & Moderate Buffer ETF - MarchExpense ratio 0.85%1 year return +12.0%
- CXJUNFT Vest U.S. Equity Enhance & Moderate Buffer ETF - JuneExpense ratio 0.85%1 year return +8.9%
- CXNOVFT Vest U.S. Equity Enhance & Moderate Buffer ETF - NovemberExpense ratio 0.85%1 year return +11.1%
- CXDECFT Vest U.S. Equity Enhance & Moderate Buffer ETF - DecemberExpense ratio 0.85%1 year return +10.2%
- CXJANFirst Trust Exchange Traded Fund VIII - FT Vest U.S. Equity Enhance & Moderate Buffer ETF - JanuaryExpense ratio 0.85%1 year return +10.1%