Skip to content
Beacon

XAPRFT Vest U.S. Equity Enhance & Moderate Buffer ETF - April

Grow my money2y track recordRanked #2,411 of 2,960 in this goal

Seeks to provide returns of approximately 2x any positive price return of SPY, up to a cap of 12.58%, with a 15% loss buffer.

By First Trust · Launched 2024

Annual Cost

0.85%

#4,336 of 5,562 · expensive

Fund Size

$31M

#4,015 of 5,562 · small

Return (1Y)Goal

+7.9%

Track Record

2 years

#3,535 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$10,824+8.2%

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 = 146.7% of fundconcentrated

CBOE GLOBAL MARKETS, INC.SPY 4 C5.27
50.3%
CBOE GLOBAL MARKETS, INC.SPY 4 C5.27
35.9%
CBOE GLOBAL MARKETS, INC.SPY 4 C5.27
28.8%
CBOE GLOBAL MARKETS, INC.SPY 4 C526.42
12.4%
CBOE GLOBAL MARKETS, INC.SPY 4 C526.42
8.8%
CBOE GLOBAL MARKETS, INC.SPY 4 C526.42
7.1%
CBOE GLOBAL MARKETS, INC.SPY 4 C5.27
2.1%
Dreyfus Government Cash Management
0.6%
CBOE GLOBAL MARKETS, INC.SPY 4 C526.42
0.5%
CBOE GLOBAL MARKETS, INC.SPY 4 P526.42
0.2%

Asset allocation

Stocks
98.7%
Cash
1.3%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
2.3%Low

Year-on-year price swings

Max drawdown
-6.2%Mild

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide returns of approximately 2x any positive price return of SPY, up to a cap of 12.58%, with a 15% loss buffer.
Strategy
Invests primarily in FLEX Options referencing SPY to achieve a target outcome strategy. Aims for enhanced returns of 2x SPY's positive performance while providing a buffer against the first 15% of losses.
Inception date
April 19, 2024
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 XAPR. Save it to your watchlist to track it alongside the other funds you're weighing.

Data updated on 2026-06-19