Skip to content
Beacon

FOCTFT Vest U.S. Equity Buffer ETF - October

Stay safeGrow my money5y track recordRanked #65 of 343 in this goal

Seeks to provide returns with a buffer against the first 10% of losses of the SPDR S&P 500 ETF Trust (SPY).

By First Trust · Launched 2020

Annual Cost

0.85%

#4,345 of 5,573 · expensive

Fund Size

$1.2B

#1,016 of 5,573 · large

Dividend YieldGoal

0.00%

Track Record

5 years

#2,218 of 5,573 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$11,930+19.3%

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 10 holdings = 104.7% of fundconcentrated

CBOE GLOBAL MARKETS, INC.SPY 10 C6.64
91.5%
CBOE GLOBAL MARKETS, INC.SPY 10 C6.64
5.8%
CBOE GLOBAL MARKETS, INC.SPY 10 P664.39
4.2%
CBOE GLOBAL MARKETS, INC.SPY 10 C6.64
1.9%
Dreyfus Government Cash Management
1.1%
CBOE GLOBAL MARKETS, INC.SPY 10 P664.39
0.2%
CBOE GLOBAL MARKETS, INC.SPY 10 P664.39
0.1%
CBOE GLOBAL MARKETS, INC.SPY 10 P597.95
-0.0%
CBOE GLOBAL MARKETS, INC.SPY 10 C764.65
-0.1%
CBOE GLOBAL MARKETS, INC.SPY 10 C764.65
-0.1%

Asset allocation

Stocks
99.3%
Cash
0.7%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
8.1%Low

Year-on-year price swings

Max drawdown
-14.1%Mild

Worst peak-to-trough loss

Sharpe (3Y)
0.87Decent risk-adjusted returns
Sortino (3Y)
1.25Good downside protection

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide returns with a buffer against the first 10% of losses of the SPDR S&P 500 ETF Trust (SPY).
Strategy
Invests primarily in FLEX Options referencing SPY to implement a target outcome strategy. Aims for a 10% buffer against SPY losses and a cap of 15.09% on returns over a one-year 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

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

What's next?

You've reviewed FOCT. Save it to your watchlist to track it alongside the other funds you're weighing.

Data updated on 2026-06-20