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XDECFT Vest U.S. Equity Enhance & Moderate Buffer ETF - December

Stay safeGrow my money4y track recordRanked #159 of 343 in this goal

Seeks to provide returns of approximately 2x positive price return of SPDR S&P 500 ETF Trust, capped at 10.06%.

By First Trust · Launched 2021

Annual Cost

0.85%

#4,345 of 5,573 · expensive

Fund Size

$175M

#2,407 of 5,573 · mid-size

Dividend YieldGoal

0.00%

Track Record

4 years

#2,576 of 5,573 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$11,164+11.6%

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 = 119.5% of fundconcentrated

CBOE GLOBAL MARKETS, INC.SPY 12 C5.92
89.9%
CBOE GLOBAL MARKETS, INC.SPY 12 C591.16
12.6%
CBOE GLOBAL MARKETS, INC.SPY 12 C5.92
7.8%
CBOE GLOBAL MARKETS, INC.SPY 12 C5.92
7.0%
CBOE GLOBAL MARKETS, INC.SPY 12 C591.16
1.0%
CBOE GLOBAL MARKETS, INC.SPY 12 C591.16
0.8%
Dreyfus Government Cash Management
0.4%
CBOE GLOBAL MARKETS, INC.SPY 12 P591.16
0.1%
CBOE GLOBAL MARKETS, INC.SPY 12 P591.16
0.0%
CBOE GLOBAL MARKETS, INC.SPY 12 P591.16
0.0%

Asset allocation

Stocks
99.1%
Cash
0.9%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
4.8%Low

Year-on-year price swings

Max drawdown
-11.7%Mild

Worst peak-to-trough loss

Sharpe (3Y)
0.88Decent risk-adjusted returns
Sortino (3Y)
1.28Good downside protection

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide returns of approximately 2x positive price return of SPDR S&P 500 ETF Trust, capped at 10.06%.
Strategy
Invests primarily in FLEX Options referencing SPDR S&P 500 ETF Trust to achieve enhanced returns and a 15% buffer against losses. The strategy targets outcomes over a one-year period, resetting with each new Target Outcome Period.
Inception date
December 17, 2021
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

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Data updated on 2026-06-20