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DOCTFT Vest U.S. Equity Deep Buffer ETF - October

Stay safeGrow my money5y track recordRanked #109 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 between -5% and -30%.

By First Trust · Launched 2020

Annual Cost

0.85%

#4,514 of 5,861 · expensive

Fund Size

$390M

#1,802 of 5,861 · large

Dividend YieldGoal

0.00%

Track Record

5 years

#2,166 of 5,861 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$11,409+14.1%

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 = 102.9% of fundconcentrated

CBOE GLOBAL MARKETS, INC.SPY 10 C6.63
90.5%
CBOE GLOBAL MARKETS, INC.SPY 10 C6.63
7.3%
CBOE GLOBAL MARKETS, INC.SPY 10 P631.17
2.7%
CBOE GLOBAL MARKETS, INC.SPY 10 C6.63
1.2%
Dreyfus Government Cash Management Funds
0.8%
CBOE GLOBAL MARKETS, INC.SPY 10 C6.63
0.3%
CBOE GLOBAL MARKETS, INC.SPY 10 P631.17
0.2%
CBOE GLOBAL MARKETS, INC.SPY 10 P631.17
0.1%
CBOE GLOBAL MARKETS, INC.SPY 10 P465.07
-0.0%
CBOE GLOBAL MARKETS, INC.SPY 10 C742.32
-0.0%

Asset allocation

Stocks
99.2%
Cash
0.8%

Risk profile

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

Year-on-year price swings

Max drawdown
-9.9%Mild

Worst peak-to-trough loss

Sharpe (3Y)
0.87Decent risk-adjusted returns
Sortino (3Y)
1.26Good 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 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 11.73% on returns. Employs a target outcome strategy to achieve these investment outcomes over the Target Outcome Period.
Inception date
October 16, 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