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Beacon

QDECFT Vest Nasdaq-100 Buffer ETF – December

Stay safeGrow my money5y track recordRanked #83 of 364 in this goal

Seeks to provide returns that match the price return of the Invesco QQQ Trust up to an 18.22% cap while providing a buffer against the first 10% of losses.

By First Trust · Launched 2020

Annual Cost

0.90%

#4,723 of 5,861 · expensive

Fund Size

$697M

#1,366 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
$11,782+17.8%

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

Nasdaq-100 Index

What it actually holds

By weight

Concentration

Top 10 holdings = 106.0% of fundconcentrated

CBOE GLOBAL MARKETS, INC.QQQ 12 C6.16
85.8%
CBOE GLOBAL MARKETS, INC.QQQ 12 P617.04
6.6%
CBOE GLOBAL MARKETS, INC.QQQ 12 C6.16
5.7%
CBOE GLOBAL MARKETS, INC.QQQ 12 C6.16
3.9%
CBOE GLOBAL MARKETS, INC.QQQ 12 C6.16
2.1%
Dreyfus Government Cash Management Funds
1.0%
CBOE GLOBAL MARKETS, INC.QQQ 12 P617.04
0.4%
CBOE GLOBAL MARKETS, INC.QQQ 12 P617.04
0.3%
CBOE GLOBAL MARKETS, INC.QQQ 12 P617.04
0.2%
CBOE GLOBAL MARKETS, INC.QQQ 12 C729.47
-0.0%

Asset allocation

Stocks
99.2%
Cash
0.8%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
10.5%Moderate

Year-on-year price swings

Max drawdown
-25.3%Moderate

Worst peak-to-trough loss

Sharpe (3Y)
1.02Strong risk-adjusted returns
Sortino (3Y)
1.52Good downside protection

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide returns that match the price return of the Invesco QQQ Trust up to an 18.22% cap while providing a buffer against the first 10% of losses.
Strategy
Invests in FLEX Options referencing the Invesco QQQ Trust to provide a buffer against the first 10% of losses and upside participation up to an 18.22% cap. Employs a target outcome strategy over the defined period from December 22, 2025 to December 18, 2026.
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