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Beacon

APXMFT Vest U.S. Equity Max Buffer

Grow my money1y track recordRanked #2,760 of 2,960 in this goal

Seeks to provide returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a buffer against losses.

By First Trust · Launched 2025

Annual Cost

0.85%

#4,336 of 5,562 · expensive

Fund Size

$18M

#4,416 of 5,562 · small

Return (1Y)Goal

+4.9%

Track Record

1 year

#4,344 of 5,562 · young

Performance

Total-return NAV · USD
Growth of $10,000
$10,503+5.0%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Structured outcome

Index tracked

S&P 500 Index

What it actually holds

By weight

Concentration

Top 6 holdings = 100.1% of fundconcentrated

CBOE GLOBAL MARKETS, INC.SPY 4 C5.24
122.5%
Dreyfus Government Cash Management
0.6%
CBOE GLOBAL MARKETS, INC.SPY 4 P526.39
0.5%
CBOE GLOBAL MARKETS, INC.SPY 4 P526.39
0.1%
CBOE GLOBAL MARKETS, INC.SPY 4 C564.52
-5.2%
CBOE GLOBAL MARKETS, INC.SPY 4 C564.52
-18.3%

Asset allocation

Stocks
98.8%
Cash
1.2%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
1.2%Low

Year-on-year price swings

Max drawdown
-0.6%Mild

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a buffer against losses.
Strategy
Invests primarily in FLEX Options referencing the SPDR S&P 500 ETF Trust to implement a target outcome strategy. Aims to provide a maximum buffer against losses while setting a predetermined upside cap, which is at least 7%. The buffer and cap are reset at the beginning of each Target Outcome Period based on market conditions.
Inception date
April 16, 2025
Fund family
First Trust

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Buffer
Warning

Buffer ETF — downside protection at a cost

Defined-outcome funds cap upside (typically 8–20%) in exchange for partial downside protection (9–30%), priced via options. Fees are materially higher than the underlying index (often 0.70%+ vs 0.03–0.10%). For most pre-retirees, a simple stock/bond mix achieves similar downside behaviour at a fraction of the cost.

Source: Morningstar, 'Defined-Outcome ETFs: Useful or Uneconomic?' (2023)

Why we flagged this: strategy=structured_outcome + structured_outcome_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-19