DOCT vs PSCQ: Grades, Fees and Holdings Compared

FT Vest U.S. Equity Deep Buffer ETF - October

DOCTCCboe

Pacer Swan SOS Conservative (October) ETF

PSCQBCboe

Overlap

0.0%by weight

Expense ratio

PSCQ −0.36pt a year

DOCT0.85%PSCQ0.49%

Avg volume · 30D

DOCT 6.6×the volume

DOCT16.3KPSCQ2.47K

5Y return · a year

PSCQ +1.0pt

DOCT+8.0%PSCQ+9.0%

DOCT vs PSCQ Performance

Oct 29, 2021 – Oct 30, 2026

+46.9%DOCT+53.5%PSCQ

Expense ratio: DOCT 0.85%; PSCQ 0.49%, better
Fund size: DOCT $422M; PSCQ $49M
1Y total return: DOCT +9.3%; PSCQ +9.8%, better
Holdings: DOCT 3; PSCQ 3
Avg volume (30D): DOCT 16.3K sh, better; PSCQ 2.47K sh
NAV per share: DOCT $48.11; PSCQ $32.20
52W range

ETF.net Grade

Pillar letters and Scores for DOCT, PSCQ, with each pillar’s weight
Pillar	DOCT	PSCQ
Cost30% weight	D31	A81Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	C51Higher	C49
Tradability15% weight	B61Higher	C48
Holdings10% weight	C52	Not scored
Durability5% weight	B65Higher	F17

Rank among S&P 500 Deep Buffer 25-30% funds

How we build Categories ›

Same Category. DOCT and PSCQ are both graded against the same 19 S&P 500 Deep Buffer 25-30% funds, so their Grades compare head to head.

S&P 500 Deep Buffer 25-30%⁠

Category · 19 funds

See all 19 ›

PSCQ ranks 3rd and DOCT 14th of 19 funds in the S&P 500 Deep Buffer 25-30% Category.

Rank 1BPSCXPacer Swan SOS Conservative (January) ETFScore 63
Rank 1BUFEBInnovator U.S. Equity Ultra Buffer ETFScore 63
Rank 3BPSCQPacer Swan SOS Conservative (October) ETFScore 60
Rank 4CDFEBFT Vest U.S. Equity Deep Buffer ETF - FebruaryScore 54
Rank 12CDSEPFT Vest U.S. Equity Deep Buffer ETF - SeptemberScore 46
Rank 14CDOCTFT Vest U.S. Equity Deep Buffer ETF - OctoberScore 45
Rank 15CDDECFT Vest U.S. Equity Deep Buffer ETF - DecemberScore 44

Our read on each fund

ETF.net Research

DOCTCFT Vest U.S. Equity Deep Buffer ETF - October

PSCQBPacer Swan SOS Conservative (October) ETF

In short

DOCT First Trust runs a dozen near-identical deep-buffer funds, one resetting each month. DOCT is the October slot: a 25-point cushion against losses, a cap on the upside, and the SPDR S&P 500 ETF Trust as its reference.

PSCQ A deep buffer with a deductible: you take the first 5% of an S&P 500 slide, then the next 25 points get cushioned, up to a cap reset each October. At 0.49% a year, it is a low-cost way to run that trade.

Stated mandate

DOCT The Fund seeks to match the price return of the State Street SPDR S&P 500 ETF Trust, subject to a predetermined upside cap, while providing downside protection over the stated October outcome period.

PSCQ The Fund seeks to match the returns of the SPDR S&P 500 ETF Trust before fees and expenses up to a predetermined cap while providing a downside buffer over approximately one year.

Why people hold it

DOCT Deep, not shallow: the outcome period carries 25 percentage points of downside buffer against the reference fund, versus the 9-to-15 point cushions typical of standard buffer products.
One rung on a 12-month ladder. Same recipe resets in every calendar month (DMAR, DJUN, DDEC and the rest), so an October start date is a choice, not a constraint.
Fee sits at 0.85%, exactly the median for deep-buffer funds, and the fund has been running resets since its 2020 launch at a multi-hundred-million size.

PSCQ 0.49% a year, at the cheap end of the SPY deep-buffer group. In a capped strategy, fees come straight out of the upside you are allowed to keep.
Real depth of cushion: underlying losses from 5% down to 30% are absorbed by the options package, 25 percentage points of protection across a full one-year outcome period.paceretfs.com
October start date. Pacer runs the same conservative recipe in January, April and July windows, so you choose which twelve months (and which cap) you live with.
Plain plumbing: FLEX options on the SPDR S&P 500 ETF Trust, no stock picking, no leverage. It sits in the upper half of its deep-buffer peer group.paceretfs.com

Worth knowing

DOCT The reference is price return, so S&P 500 dividends do not flow through, and the fund itself has not been paying a distribution.
Protection is paid for with a ceiling. A new cap is set each October from market pricing at the reset, and buffer and cap only fully apply if you hold the whole period.
Cheaper deep-buffer plumbing exists: the Pacer Swan SOS Conservative funds (PSCX, PSCW, PSCQ) charge 0.49%. DOCT also trades thinly, so spreads deserve a look.

PSCQ The cap is the price of the cushion. Upside stops at a level set when the October period begins, so a roaring S&P year leaves money on the table.
The 5% to 30% math is built for holders of the full period. Buy mid-period and your effective buffer and cap depend on the price you pay.paceretfs.com
A small fund that trades thinly, so spreads can run wider than on big index ETFs. It holds options, not dividend payers, so income is not part of the design.

Full DOCT profile⁠

Full PSCQ profile⁠

DOCT vs PSCQ Holdings

As of Oct 23, 2026

How DOCT and PSCQ differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of DOCT and 0.0% of PSCQ.

Level by level

Holdings0 in both0.0%
Sector11 Sectors96.9%
Countryby domicile100%

Sector

Sector weights in DOCT and PSCQ, widest gap first
Sector	More in DOCTMore in PSCQ	DOCT	PSCQ
Communication	PSCQ +1.7 points	8.9%	10.6%
Health Care	DOCT +1.5 points	9.8%	8.3%
Consumer Discretionary	PSCQ +0.8 points	9.1%	9.9%
Financials	DOCT +0.6 points	11.7%	11.1%
Energy	DOCT +0.6 points	3.7%	3.1%
Industrials	PSCQ +0.3 points	7.5%	7.8%
Technology	DOCT +0.2 points	39.3%	39.1%
Consumer Staples	DOCT +0.2 points	4.7%	4.5%
Materials	PSCQ +0.2 points	1.5%	1.7%
Utilities	PSCQ +0.1 points	2.0%	2.1%
Real Estate	PSCQ +0.1 points	1.7%	1.8%

Country, concentration and asset class

Country by domicile

Country weights in DOCT and PSCQ, widest gap first
Country	More in DOCTMore in PSCQ	DOCT	PSCQ
United States	Same weight	99.5%	99.5%
Switzerland	Same weight	0.3%	0.3%
China	Same weight	0.1%	0.1%
Mexico	Same weight	0.1%	0.1%
Ireland	Same weight	0.0%	0.0%
United Kingdom	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

DOCT102.8%
PSCQ103.1%

Securities held

DOCT2
PSCQ2

Asset class

DOCT: Multi-Asset
PSCQ: Equity

Holdings

Only in DOCT2
In both0
Only in PSCQ2

Only in DOCT

2 securities, 100% of DOCT by weight

2027-10-15 State Street® SPDR® S&P 500® ETF Trust C 7.5697.57%
2027-10-15 State Street® SPDR® S&P 500® ETF Trust P 725.094.12%

Only in PSCQ

2 securities, 100% of PSCQ by weight

Spy 09/30/2027 8.39 C98.24%
Spy 09/30/2027 724.5 P3.41%

Weight gaps

DOCT and PSCQ share no securities.

All 4 DOCT holdings⁠All 6 PSCQ holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DOCT vs PSCQ Cost

Overpaying DOCT vs PSCQ

$6,407

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

DOCT 0.85%
$16,199
PSCQ 0.49%
$9,792

Amount$10,000

Years30 years

Cost over time

DOCT 0.85%
PSCQ 0.49%
Overpaying

Year by year

Year	DOCT	PSCQ	Overpaying
10	$1,508	$883	$625
20	$5,706	$3,394	$2,312
30	$16,199	$9,792	$6,407

Expense ratio

0.85%DOCT
0.49%PSCQ, cheaper

PSCQ0.49%DOCT0.85%

0.30%0.85%

Middle half of S&P 500 Deep Buffer 25-30% funds
Median 0.85%

PSCQ 3rd cheapest of 19 funds

DOCT 8th cheapest of 19 funds

DOCT vs PSCQ Dividends

Last 12 months to Oct 30, 2026

Payout (12M): DOCT None; PSCQ None

Distribution history

DOCTAll DOCT payments⁠

No distribution history available.

PSCQAll PSCQ payments⁠

No distribution history available.

DOCT vs PSCQ Risk

Fall from peak · 5 years

DOCT
PSCQ

Risk facts

VolatilityStd dev, 3 years: DOCT 5.9%, betterPSCQ 6.1%
Return per unit of riskSharpe ratio, 3 years: DOCT 1.23PSCQ 1.30, better
Worst fallMax drawdown, 5 years: DOCT −9.9%PSCQ −9.9%
Market sensitivityBeta, 5 years: DOCT 0.47PSCQ 0.40; Market = 1

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