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Beacon

FDECFT Vest U.S. Equity Buffer ETF - December

Grow my moneyTake a bet5y track recordRanked #106 of 949 in this goal

Seeks to provide returns that match the price return of the SPDR S&P 500 ETF Trust, up to a cap of 14.75%, while providing a buffer against the first 10% of losses.

By First Trust · Launched 2020

Annual Cost

0.85%

#4,507 of 5,854 · expensive

Fund Size

$1.3B

#988 of 5,854 · large

Return (1Y)Goal

+15.5%

Track Record

5 years

#2,206 of 5,854 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$11,581+15.8%

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 = 104.4% of fundconcentrated

CBOE GLOBAL MARKETS, INC.SPY 12 C6.81
89.9%
CBOE GLOBAL MARKETS, INC.SPY 12 P680.59
4.9%
CBOE GLOBAL MARKETS, INC.SPY 12 C6.81
3.6%
CBOE GLOBAL MARKETS, INC.SPY 12 C6.81
3.1%
CBOE GLOBAL MARKETS, INC.SPY 12 C6.81
1.5%
Dreyfus Government Cash Management Funds
1.0%
CBOE GLOBAL MARKETS, INC.SPY 12 P680.59
0.2%
CBOE GLOBAL MARKETS, INC.SPY 12 P680.59
0.1%
CBOE GLOBAL MARKETS, INC.SPY 12 P680.59
0.1%
CBOE GLOBAL MARKETS, INC.SPY 12 C780.98
-0.0%

Asset allocation

Stocks
99.1%
Cash
0.9%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
7.8%Low

Year-on-year price swings

Max drawdown
-15.7%Moderate

Worst peak-to-trough loss

Sharpe (3Y)
1.06Strong risk-adjusted returns
Sortino (3Y)
1.55Good 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, up to a cap of 14.75%, while providing a buffer against the first 10% of losses.
Strategy
Invests substantially all assets in FLEX Options referencing the SPDR S&P 500 ETF Trust to provide a buffer against the first 10% of losses and a cap of 14.75% on returns. The strategy is designed to achieve predetermined outcomes based on the Underlying ETF's performance over the Target Outcome Period.
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 2026-08-03