DFEBFT Vest U.S. Equity Deep Buffer ETF - February
Seeks to provide returns that match the price return of the SPDR S&P 500 ETF Trust with a buffer against losses between -5% and -30%.
By First Trust · Launched 2020
0.85%
#4,507 of 5,854 · expensive
$461M
#1,651 of 5,854 · large
+12.2%
6 years
#2,010 of 5,854 · seasoned
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 10 holdings = 103.6% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
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 between -5% and -30%.
- Strategy
- Invests in FLEX Options referencing the SPDR S&P 500 ETF Trust to provide a buffer against losses between -5% and -30% while targeting a cap of 11.87%. The strategy aims to deliver returns matching the Underlying ETF's performance up to the cap.
- Inception date
- February 21, 2020
- Fund family
- First Trust
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
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 2026-08-03