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DSEP vs PSCX

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

DSEPCCboe

Pacer Swan SOS Conservative (January) ETF

PSCXBCboe

Overlap

Expense ratio

PSCX −0.36pt a year

DSEP0.85%PSCX0.49%

Avg volume · 30D

DSEP 22.4×the volume

DSEP22.4KPSCX998

5Y return · a year

PSCX +0.3pt

DSEP+8.2%PSCX+8.5%

DSEP vs PSCX Performance

Oct 29, 2021 – Oct 30, 2026

+48.6%DSEP+50.6%PSCX

Oct 29, 2021 to Oct 30, 2026. DSEP +48.6%. PSCX +50.6%. Use the arrow keys to read each point.−10%0%10%20%30%Oct 2021Mar 2024Oct 2026
Expense ratio
DSEP 0.85%
PSCX 0.49%, better
Fund size
DSEP $430M
PSCX $47M
1Y total return
DSEP +9.3%
PSCX +10.2%, better
Holdings
DSEP 3
PSCX 3
Avg volume (30D)
DSEP 22.4K sh, better
PSCX 998 sh
NAV per share
DSEP $48.84
PSCX $33.53
52W range

ETF.net Grade

DSEP: Cost 31, Risk 49, Mission 92, Tradability 74, Holdings 38, Durability 73. PSCX: Cost 81, Risk 56, Mission not scored, Tradability 47, Holdings not scored, Durability 28.
Pillar letters and Scores for DSEP, PSCX, with each pillar’s weight
PillarDSEPPSCX
Cost30% weightD31A81Higher
Mission25% weightA92Not scored
Risk15% weightC49B56Higher
Tradability15% weightA74HigherC47
Holdings10% weightD38Not scored
Durability5% weightA73HigherD28

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

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DSEP and PSCX 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 ›

PSCX ranks 1st and DSEP 12th of 19 funds in the S&P 500 Deep Buffer 25-30% Category.

  1. Rank 1BPSCXPacer Swan SOS Conservative (January) ETFScore 63
  2. Rank 1BUFEBInnovator U.S. Equity Ultra Buffer ETFScore 63
  3. Rank 12CDJUNFT Vest U.S. Equity Deep Buffer ETF - JuneScore 46
  4. Rank 12CDSEPFT Vest U.S. Equity Deep Buffer ETF - SeptemberScore 46
  5. Rank 14CDOCTFT Vest U.S. Equity Deep Buffer ETF - OctoberScore 45

Our read on each fund

ETF.net Research

DSEPCFT Vest U.S. Equity Deep Buffer ETF - September

PSCXBPacer Swan SOS Conservative (January) ETF

In short

DSEP The deep-buffer version of owning the S&P 500: DSEP absorbs the first 5% of a drop itself, then shields losses down to -30% over its one-year September period, in exchange for a capped upside.

PSCX A 25% deep buffer against the S&P 500, reset every January, for 0.49% a year, well under the typical fee in its deep-buffer group. The trade-off: a cap on the upside, set fresh each outcome period.

Stated mandate

DSEP The Fund seeks to match the price return of the State Street® SPDR® S&P 500® ETF Trust before fees, subject to an 11.43% upside cap and protection against Underlying ETF losses between -5% and -30% during the stated outcome period.

PSCX The fund seeks to match the pre-fee returns of the SPDR S&P 500 ETF Trust up to a predetermined cap while providing a downside buffer over approximately one year.

Why people hold it

  • DSEP Deeper cover than a standard buffer fund: 25 points of downside protection, from -5% to -30% of the underlying S&P 500 ETF's price return, over each one-year outcome period.ftportfolios.com
  • September is one rung in First Trust's twelve-month deep buffer ladder (DMAR, DJUN, DDEC and the rest), so start dates can be staggered instead of hinging on one calendar month.
  • Running since 2020, with five-plus years of resetting cap and buffer each September, and a 0.85% fee that sits right at the median for deep-buffer funds.
  • PSCX At 0.49%, one of the cheaper ways to buy a deep buffer: cohort peers DMAR (0.85%) and UFEB (0.79%) charge more for a similar job.
  • The cushion is deep. The structure aims to absorb the first 25% of SPDR S&P 500 ETF Trust losses over an approximately one-year outcome period.paceretfs.com
  • Pacer runs the same recipe on a quarterly calendar (PSCW in April, PSCQ in October), so the January reset is a choice of start date, not the only option.
  • Live since 2020, so the strategy has cycled through several full outcome periods, not one flattering stretch.

Worth knowing

  • DSEP The shield starts only after a 5% decline, so everyday dips land in full, and the upside cap is reset each September at whatever the options market will pay.
  • 0.85% is above the cheapest end of the category: Pacer's Swan SOS Conservative funds (PSCX, PSCW, PSCQ) run 0.49%.
  • Thinly traded and built for price return, not income, so limit orders are worth using and there is no regular distribution stream.
  • PSCX Upside is capped. A new cap is set at the start of each outcome period, and a deeper buffer generally comes with a lower ceiling.paceretfs.com
  • Buffer and cap are measured over the full outcome period and stated before fees. Buy mid-period and your own cushion and ceiling differ from the headline terms.paceretfs.com
  • A small, thinly traded fund, so bid-ask spreads can run wider than on mainstream index ETFs.

Full DSEP profile⁠

Full PSCX profile⁠

DSEP vs PSCX Holdings

As of
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.

DSEP vs PSCX Cost

Overpaying DSEP vs PSCX

$6,407

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

  • DSEP 0.85%

    $16,199

  • PSCX 0.49%

    $9,792

$10,000
30 years

Cost over time

  • DSEP 0.85%
  • PSCX 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DSEP $16,199PSCX $9,792

Year by year

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

Expense ratio

  • 0.85%DSEP
  • 0.49%PSCX, cheaper
  • Middle half of S&P 500 Deep Buffer 25-30% funds
  • Median 0.85%

PSCX 3rd cheapest of 19 funds

DSEP 8th cheapest of 19 funds

DSEP vs PSCX Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
DSEP None
PSCX None

Distribution history

DSEPAll DSEP payments⁠

No distribution history available.

PSCXAll PSCX payments⁠

No distribution history available.

DSEP vs PSCX Risk

Fall from peak · 5 years

  • DSEP
  • PSCX
Oct 29, 2021 to Oct 30, 2026. Worst fall: DSEP −11.8% · Oct 2022. Use the arrow keys to read each point.−10%−7.5%−5%−2.5%0%Oct 2021Mar 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
DSEP 6.2%PSCX 6.0%, better
Return per unit of riskSharpe ratio, 3 years
DSEP 1.32PSCX 1.45, better
Worst fallMax drawdown, 5 years
DSEP −11.8%PSCX −10.2%, better
Market sensitivityBeta, 5 years
DSEP 0.47PSCX 0.46

DSEP and PSCX in the news

All news⁠

Popular comparisons

  • DSEPCvsUFEBB

    FT Vest U.S. Equity Deep Buffer ETF - September · Innovator U.S. Equity Ultra Buffer ETF

    Expense ratio
    0.85% · 0.79%
    Category
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  • PSCXBvsUFEBB

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  • PSCXBvsDFEBC

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    Expense ratio
    0.49% · 0.85%
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