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XJAN vs XSEP

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January

XJANCCboe

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September

XSEPCCboe

Overlap

0.5%by weight

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

XJAN0.85%XSEP0.85%

Avg volume · 30D

XSEP 1.1×the volume

XJAN12.7KXSEP13.4K

XJAN vs XSEP Performance

Oct 31, 2025 – Oct 30, 2026

+8.5%XJAN+8.2%XSEP

Oct 31, 2025 to Oct 30, 2026. XJAN +8.5%. XSEP +8.2%. Use the arrow keys to read each point.−2.5%0%2.5%5%Oct 2025Apr 2026Oct 2026
Expense ratio
XJAN 0.85%
XSEP 0.85%
Fund size
XJAN $72M
XSEP $99M
1Y total return
XJAN +8.5%, better
XSEP +8.2%
Holdings
XJAN 4
XSEP 4
Avg volume (30D)
XJAN 12.7K sh
XSEP 13.4K sh, better
NAV per share
XJAN $39.37
XSEP $45.38
52W range

ETF.net Grade

XJAN: Cost 40, Risk 44, Mission not scored, Tradability 83, Holdings not scored, Durability 41. XSEP: Cost 40, Risk 44, Mission 91, Tradability 75, Holdings 53, Durability 66.
Pillar letters and Scores for XJAN, XSEP, with each pillar’s weight
PillarXJANXSEP
Cost30% weightC40C40
Mission25% weightNot scoredA91
Risk15% weightC44C44
Tradability15% weightA83HigherA75
Holdings10% weightNot scoredC53
Durability5% weightC41B66Higher

Rank among S&P 500 Accelerated, 15% Buffer funds

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

Same Category. XJAN and XSEP are both graded against the same 7 S&P 500 Accelerated, 15% Buffer funds, so their Grades compare head to head.

S&P 500 Accelerated, 15% Buffer⁠

Category · 7 funds
See all 7 ›

XSEP ranks 3rd and XJAN 4th of 7 funds in the S&P 500 Accelerated, 15% Buffer Category.

  1. Rank 1BXMARFT Vest U.S. Equity Enhance & Moderate Buffer ETF - MarchScore 54
  2. Rank 2CXNOVFT Vest U.S. Equity Enhance & Moderate Buffer ETF - NovemberScore 52
  3. Rank 3CXSEPFT Vest U.S. Equity Enhance & Moderate Buffer ETF - SeptemberScore 51
  4. Rank 4CXJANFT Vest U.S. Equity Enhance & Moderate Buffer ETF - JanuaryScore 50
  5. Rank 4BXJUNFT Vest U.S. Equity Enhance & Moderate Buffer ETF - JuneScore 50

Our read on each fund

ETF.net Research

XJANCFT Vest U.S. Equity Enhance & Moderate Buffer ETF - January

XSEPCFT Vest U.S. Equity Enhance & Moderate Buffer ETF - September

In short

XJAN No data

XSEP Most 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.

Stated mandate

XJAN No data

XSEP 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

XJAN No data

  • XSEP 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

XJAN No data

  • XSEP 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.

Full XJAN profile⁠

Full XSEP profile⁠

XJAN vs XSEP Holdings

How XJAN and XSEP differ

Overlap by weight

0.5%

Shared holdings make up 1.1% of XSEP and 0.5% of XJAN.

Level by level

  • Holdings0 in both0.5%

Sector

No Sector split for XJAN.

Country, concentration and asset class

Country by domicile

No country split for XSEP.

Concentration

Weight in the 10 largest Holdings

  • XJAN112.8%
  • XSEP111.5%

Securities held

  • XJAN3
  • XSEP3

Asset class

XJAN
Multi-Asset
XSEP
Multi-Asset

Holdings

  • Only in XJAN3
  • In both0
  • Only in XSEP3

Only in XJAN

3 securities, 100% of XJAN by weight

  • 2027-01-15 State Street® SPDR® S&P 500® ETF Trust C 6.93101.17%
  • 2027-01-15 State Street® SPDR® S&P 500® ETF Trust C 691.6710.25%
  • 2027-01-15 State Street® SPDR® S&P 500® ETF Trust P 691.670.94%

Only in XSEP

3 securities, 100% of XSEP by weight

  • 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 7.6997.32%
  • 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 761.697.91%
  • 2027-09-17 State Street® SPDR® S&P 500® ETF Trust P 761.775.18%

Weight gaps

XJAN and XSEP share no securities.

All 5 XJAN holdings⁠All 5 XSEP 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.

XJAN vs XSEP Cost

Same expense ratio

$16,199

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

  • XJAN 0.85%

    $16,199

  • XSEP 0.85%

    $16,199

$10,000
30 years

Cost over time

  • XJAN 0.85%
  • XSEP 0.85%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530XJAN $16,199XSEP $16,199

Year by year

YearXJANXSEP
10$1,508$1,508
20$5,706$5,706
30$16,199$16,199

Expense ratio

  • 0.85%XJAN
  • 0.85%XSEP
  • Middle half of S&P 500 Accelerated, 15% Buffer funds
  • Median 0.85%

XJAN 2nd cheapest of 7 funds

XSEP 2nd cheapest of 7 funds

XJAN vs XSEP Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
XJAN None
XSEP None

Distribution history

XJANAll XJAN payments⁠

No distribution history available.

XSEPAll XSEP payments⁠

No distribution history available.

XJAN vs XSEP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
XJAN 4.3%since Feb 2024XSEP 4.6%
Return per unit of riskSharpe ratio, 3 years
XJAN 1.03since Feb 2024XSEP 1.23
Worst fallMax drawdown, 5 years
XJAN −10.0%since Jan 2024XSEP −9.2%since Sep 2022
Market sensitivityBeta, 5 years
XJAN 0.34XSEP 0.35

XJAN and XSEP in the news

All news⁠

Popular comparisons

  • XJANCvsXMARB

    FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January · FT Vest U.S. Equity Enhance & Moderate Buffer ETF - March

    Expense ratio
    0.85% · 0.85%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • XSEPCvsXMARB

    FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September · FT Vest U.S. Equity Enhance & Moderate Buffer ETF - March

    Expense ratio
    0.85% · 0.85%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • XJANCvsXNOVC

    FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January · FT Vest U.S. Equity Enhance & Moderate Buffer ETF - November

    Expense ratio
    0.85% · 0.85%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • XSEPCvsXNOVC

    FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September · FT Vest U.S. Equity Enhance & Moderate Buffer ETF - November

    Expense ratio
    0.85% · 0.85%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • XJANCvsXJUNB

    FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January · FT Vest U.S. Equity Enhance & Moderate Buffer ETF - June

    Expense ratio
    0.85% · 0.85%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • XSEPCvsXJUNB

    FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September · FT Vest U.S. Equity Enhance & Moderate Buffer ETF - June

    Expense ratio
    0.85% · 0.85%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.