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XJULFT Vest U.S. Equity Enhance & Moderate Buffer ETF - July

Grow my money3y track recordRanked #2,357 of 2,998 in this goal

Seeks to provide returns of approximately twice any positive price return of the SPDR S&P 500 ETF Trust while providing a buffer against the first 15% of losses.

By First Trust · Launched 2023

Annual Cost

0.85%

#4,514 of 5,861 · expensive

Fund Size

$42M

#3,820 of 5,861 · mid-size

Return (1Y)Goal

+9.4%

Track Record

3 years

#3,011 of 5,861 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$10,952+9.5%

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 = 116.4% of fundconcentrated

CBOE GLOBAL MARKETS, INC.SPY 7 C6.29
86.4%
CBOE GLOBAL MARKETS, INC.SPY 7 C6.29
13.6%
CBOE GLOBAL MARKETS, INC.SPY 7 C627.59
9.9%
CBOE GLOBAL MARKETS, INC.SPY 7 C6.29
2.1%
CBOE GLOBAL MARKETS, INC.SPY 7 C627.59
1.6%
CBOE GLOBAL MARKETS, INC.SPY 7 P627.59
1.5%
Dreyfus Government Cash Management Funds
0.6%
CBOE GLOBAL MARKETS, INC.SPY 7 C627.59
0.2%
CBOE GLOBAL MARKETS, INC.SPY 7 P627.59
0.2%
CBOE GLOBAL MARKETS, INC.SPY 7 P627.59
0.1%

Asset allocation

Stocks
99.5%
Cash
0.6%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
4.3%Low

Year-on-year price swings

Max drawdown
-9.1%Mild

Worst peak-to-trough loss

Sharpe (3Y)
0.89Decent risk-adjusted returns
Sortino (3Y)
1.32Good downside protection

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide returns of approximately twice any positive price return of the SPDR S&P 500 ETF Trust while providing a buffer against the first 15% of losses.
Strategy
Invests in FLEX Options referencing the SPDR S&P 500 ETF Trust to achieve a target outcome strategy, providing a buffer against the first 15% of losses and enhanced returns of approximately twice any positive price return up to a cap of 10.10%. The strategy is designed for a one-year Target Outcome Period.
Inception date
July 21, 2023
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