GOCT vs PSMJ

GOCTCFT Vest U.S. Equity Moderate Buffer ETF - October

PSMJBPacer Swan SOS Moderate (July) ETF

In short

GOCT The October link in First Trust's moderate-buffer ladder: it follows the price moves of the SPDR S&P 500 ETF Trust and absorbs the first 15% of losses over a one-year stretch, in exchange for a cap on gains that resets every October.

PSMJ Pacer's July-dated stop on the Swan SOS ladder: FLEX options on SPY that buffer the first 15% of a fall over a roughly one-year period, with upside capped in return. At 0.49%, it undercuts most of the buffer aisle.

Stated mandate

GOCT 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 12.14% upside cap, while protecting the first 15% of losses during the October 20, 2025–October 16, 2026 outcome period.

PSMJ The Fund seeks to track the returns of the SPDR S&P 500 ETF Trust up to a predetermined cap while providing a downside buffer over an approximately one-year period.

Why people hold it

• GOCT The cushion is contractual, not a hope: the first 15% of the reference ETF's losses across the outcome period, paid for with a ceiling on upside.ftportfolios.com
• Twelve monthly siblings (GJAN through GDEC) run the same playbook on the same reference fund, so entry dates can be staggered instead of hinging on one October reset.
• Buffer depth and cap are written into the fund's documents ahead of each yearly period, so the payoff shape is defined by rules rather than a manager's judgment call.ftportfolios.com

• PSMJ Charges 0.49% a year against a 0.79% median for its buffered-SPY cohort, the same 0.79% Innovator's Power Buffer funds (PJUL, PJAN, POCT) charge for a similar job.
• The deal is legible: FLEX options on SPY absorb the first 15% of a decline over the outcome period, and match the ETF's gains up to a cap struck each July.paceretfs.compaceretfs.com 2
• Those FLEX options are customizable exchange-traded contracts settled through the Options Clearing Corporation, and Durango-based Swan Global Management sub-advises the strategy.paceretfs.com
• One of four Moderate-series funds with staggered start months (PSMD, PSMR, PSMJ, PSMO), so a July reset can be stacked against other entry points rather than standing alone.paceretfs.com

Worth knowing

• GOCT At 0.85% a year it runs above several buffer peers, including POCT and PJUL at 0.79% and the laddered BUFF at 0.10%.
• It matches price return only, so the index's dividends sit outside the payoff, and the fund isn't built as an income payer.
• Shares trade thinly, and the buffer and cap apply in full only across a complete outcome period; buying partway through changes the math.

• PSMJ The 15% buffer and the cap belong to the full outcome period. Step in mid-period and you inherit whatever cap and buffer remain, not the starting terms.paceretfs.com
• Thinly traded next to the largest buffer funds, so spreads and limit orders deserve more of your attention at the point of entry.
• No regular income stream here: the options structure delivers its result through share price rather than distributions.paceretfs.com

Full GOCT profile⁠

Full PSMJ profile⁠