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Beacon

DDECFT Vest U.S. Equity Deep Buffer ETF - December

Stay safeGrow my money5y track recordRanked #112 of 364 in this goal

Seeks to provide returns that match the price return of the SPDR S&P 500 ETF Trust with a buffer against losses.

By First Trust · Launched 2020

Annual Cost

0.85%

#4,514 of 5,861 · expensive

Fund Size

$426M

#1,728 of 5,861 · large

Dividend YieldGoal

0.00%

Track Record

5 years

#2,205 of 5,861 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$11,274+12.7%

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

What's inside

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 10 holdings = 103.1% of fundconcentrated

CBOE GLOBAL MARKETS, INC.SPY 12 C6.8
85.5%
CBOE GLOBAL MARKETS, INC.SPY 12 C6.8
7.0%
CBOE GLOBAL MARKETS, INC.SPY 12 C6.8
3.8%
CBOE GLOBAL MARKETS, INC.SPY 12 P646.56
3.5%
CBOE GLOBAL MARKETS, INC.SPY 12 C6.8
1.9%
Dreyfus Government Cash Management Funds
1.0%
CBOE GLOBAL MARKETS, INC.SPY 12 P646.56
0.3%
CBOE GLOBAL MARKETS, INC.SPY 12 P646.56
0.2%
CBOE GLOBAL MARKETS, INC.SPY 12 P646.56
0.1%
CBOE GLOBAL MARKETS, INC.SPY 12 P476.41
-0.0%

Asset allocation

Stocks
99.1%
Cash
0.9%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
5.9%Low

Year-on-year price swings

Max drawdown
-10.2%Mild

Worst peak-to-trough loss

Sharpe (3Y)
1.10Strong risk-adjusted returns
Sortino (3Y)
1.61Good downside protection

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 with a buffer against losses.
Strategy
Employs a target outcome strategy using FLEX Options to provide returns matching the SPDR S&P 500 ETF Trust's price return, with a buffer against losses between -5% and -30%. The cap for returns is set at 11.96% before fees and expenses.
Inception date
December 18, 2020
Fund family
First Trust

Our take

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

Buffer
Warning

You can build this cheaper yourself

Defined-outcome funds cap your gains (often 8% to 20%) in exchange for cushioning losses by 9% to 30%, priced with options. The fee runs about 0.70% or more, against 0.03% to 0.10% for a plain index fund. For most investors, a simple stock-and-bond mix gives similar protection for far less.

Sources: Morningstar, 'Buffer Funds Are on the Rise, but They May Not Make Sense for Most Investors' (2025)

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 2026-08-04