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FAUG vs XTR

FT Vest U.S. Equity Buffer ETF - August

FAUGCCboe

Global X S&P 500 Tail Risk ETF

XTRCNYSE Arca

Overlap

Expense ratio

XTR −0.60pt a year

FAUG0.85%XTR0.25%

Avg volume · 30D

FAUG 37.4×the volume

FAUG61.4KXTR1.64K

5Y return · a year

XTR +0.3pt

FAUG+8.6%XTR+8.9%

FAUG vs XTR Performance

Oct 29, 2021 – Oct 30, 2026

+50.9%FAUG+53.3%XTR

Oct 29, 2021 to Oct 30, 2026. FAUG +50.9%. XTR +53.3%. Use the arrow keys to read each point.−20%0%20%Oct 2021Apr 2024Oct 2026
Expense ratio
FAUG 0.85%
XTR 0.25%, better
Fund size
FAUG $1.44B
XTR $5M
1Y total return
FAUG +9.5%, better
XTR +7.9%
Yield (12M)
FAUG No data
XTR 16.45%
Holdings
FAUG 3
XTR 506
Avg volume (30D)
FAUG 61.4K sh, better
XTR 1.64K sh
NAV per share
FAUG $57.38
XTR $28.54
52W range

ETF.net Grade

FAUG: Cost 11, Risk 53, Mission 95, Tradability 94, Holdings 53, Durability 91. XTR: Cost 100, Risk 18, Mission not scored, Tradability 13, Holdings 85, Durability 46.
Pillar letters and Scores for FAUG, XTR, with each pillar’s weight
PillarFAUGXTR
Cost30% weightF11A100Higher
Mission25% weightA95Not scored
Risk15% weightC53HigherF18
Tradability15% weightA94HigherF13
Holdings10% weightC53A85Higher
Durability5% weightA91HigherC46

Rank among S&P 500 Buffer 9-12% funds

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

Same Category. FAUG and XTR are both graded against the same 77 S&P 500 Buffer 9-12% funds, so their Grades compare head to head.

S&P 500 Buffer 9-12%⁠

Category · 77 funds
See all 77 ›

FAUG ranks 42nd and XTR 57th of 77 funds in the S&P 500 Buffer 9-12% Category.

  1. Rank 42CBDECInnovator U.S. Equity Buffer ETFScore 47
  2. Rank 42CFAUGFT Vest U.S. Equity Buffer ETF - AugustScore 47
  3. Rank 44CDECZTrueShares Structured Outcome (December) ETFScore 46
  4. Rank 57CXIDEFT Vest U.S. Equity Buffer & Premium Income ETF - DecemberScore 40
  5. Rank 57CXTRGlobal X S&P 500 Tail Risk ETFScore 40
  6. Rank 64DJULZTrueshares Structured Outcome (July) ETFScore 39

Our read on each fund

ETF.net Research

FAUGCFT Vest U.S. Equity Buffer ETF - August

XTRCGlobal X S&P 500 Tail Risk ETF

In short

FAUG First Trust's August-reset buffer fund absorbs the first 10% of a one-year price decline in the S&P 500 tracker it follows, and caps your upside in exchange. Running since 2019, an early arrival in what is now a crowded category.

XTR Most downside-protection ETFs sell away your upside to pay for it. XTR pays cash instead: it owns the S&P 500 stocks and buys 10% out-of-the-money puts every quarter, leaving the upside uncapped.

Stated mandate

FAUG The Fund seeks to match the price return of the State Street SPDR S&P 500 ETF Trust, before fees and expenses, up to a predetermined cap while buffering the first 10% of the underlying ETF's losses during the stated outcome period.

XTR The Fund seeks to track the performance of the Cboe S&P 500 Tail Risk Index before fees and expenses.

Why people hold it

  • FAUG The trade is spelled out: first 10% of the reference ETF's price loss absorbed, upside stopped at a cap, dividends left out, clock reset every August.
  • One slot in a full twelve-fund calendar (FJAN through FDEC), so an investor can enter on the August cycle or spread entries across reset months.
  • Live since 2019 and reset every August since, so the mechanics have run through real markets rather than model assumptions.
  • XTR No cap on the gains. The hedge is bought with cash rather than funded by selling calls, so index rallies come through less the put premium and fees.sec.gov
  • Costs 0.25%, well under half of what the defined-outcome funds it competes with typically charge for downside protection.
  • Owns the roughly 500 S&P 500 stocks themselves, with the put position layered on top, rather than wrapping the index in a stack of options.sec.gov
  • Rules-based and mechanical: puts are bought at 10% below the prevailing index level each quarter and held to expiration, with no manager guessing at timing.sec.gov

Worth knowing

  • FAUG At 0.85% a year it sits at the pricier end of the buffer shelf: ZALT runs 0.69% and the laddered BUFB 0.10% for related takes on the same idea.
  • Buffer and cap are set for the whole outcome period. Buy mid-period and you inherit whatever cushion and headroom remain, not the headline terms.
  • Trades lightly next to the category's busiest names, so spreads can be part of the entry cost.
  • XTR Protection starts about 10% down and resets quarterly, so garden-variety dips are absorbed in full and the gap widens if the market rallies mid-quarter.sec.gov
  • Insurance is not free. The quarterly premium is a steady cost against plain index exposure, and in calm markets the puts expire worthless.sec.gov
  • A small fund that trades thinly, so limit orders matter and subscale products carry more risk of being closed than the category's giants.

Full FAUG profile⁠

Full XTR profile⁠

FAUG vs XTR 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.

FAUG vs XTR Cost

Overpaying FAUG vs XTR

$11,040

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

  • FAUG 0.85%

    $16,199

  • XTR 0.25%

    $5,159

$10,000
30 years

Cost over time

  • FAUG 0.85%
  • XTR 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530FAUG $16,199XTR $5,159

Year by year

YearFAUGXTROverpaying
10$1,508$455$1,053
20$5,706$1,769$3,937
30$16,199$5,159$11,040

Expense ratio

  • 0.85%FAUG
  • 0.25%XTR, cheaper
  • Middle half of S&P 500 Buffer 9-12% funds
  • Median 0.79%

XTR cheapest of 77 funds

FAUG 60th cheapest of 77 funds

FAUG vs XTR Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FAUG No data
XTR 16.45%
Payout (12M)
FAUG None
XTR $4.69
Last payment
FAUG No data
XTR $0.08
Ex-dividend
FAUG No data
XTR Jun 29, 2026
Paid on
FAUG No data
XTR Jul 2, 2026
Frequency
FAUG No data
XTR Twice a year

Distribution history

Per share, 2021 to 2026, same scale for both

FAUGAll FAUG payments⁠

No distribution history available.

XTRTwice a year · 10 paymentsAll XTR payments⁠
One bar per payment. 10 payments from 2021 to 2026 YTD. Dec 30, 2021 $0.64; Jun 29, 2022 $0.10; Dec 29, 2022 $0.15; Jun 29, 2023 $0.10; Dec 28, 2023 $0.19; Jun 27, 2024 $0.17; Dec 30, 2024 $5.55; Jun 27, 2025 $0.11; Dec 30, 2025 $4.61; Jun 29, 2026 $0.08. Use the arrow keys to read each point.$0$520232026YTD

FAUG vs XTR Risk

Fall from peak · 5 years

  • FAUG
  • XTR
Oct 29, 2021 to Oct 30, 2026. Worst fall: XTR −20.8% · Oct 2022. Use the arrow keys to read each point.−20%−15%−10%−5%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
FAUG 7.3%, betterXTR 11.7%
Return per unit of riskSharpe ratio, 3 years
FAUG 1.45, betterXTR 1.19
Worst fallMax drawdown, 5 years
FAUG −15.9%, betterXTR −20.8%
Market sensitivityBeta, 5 years
FAUG 0.63XTR 0.94

FAUG and XTR in the news

All news⁠

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