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Beacon

XSEPFT Vest U.S. Equity Enhance & Moderate Buffer ETF - September

Grow my money3y track recordRanked #2,075 of 2,960 in this goal

Seeks to provide returns of approximately 2x positive price return of SPY, up to a cap of 9.58%, with a 15% loss buffer.

By First Trust · Launched 2022

Annual Cost

0.85%

#4,336 of 5,562 · expensive

Fund Size

$124M

#2,735 of 5,562 · mid-size

Return (1Y)Goal

+10.0%

Track Record

3 years

#2,796 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$11,031+10.3%

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 = 112.6% of fundconcentrated

CBOE GLOBAL MARKETS, INC.SPY 9 C6.65
91.7%
CBOE GLOBAL MARKETS, INC.SPY 9 C663.71
8.8%
CBOE GLOBAL MARKETS, INC.SPY 9 C6.65
8.1%
CBOE GLOBAL MARKETS, INC.SPY 9 P663.71
4.2%
Dreyfus Government Cash Management
1.0%
CBOE GLOBAL MARKETS, INC.SPY 9 C663.71
0.8%
CBOE GLOBAL MARKETS, INC.SPY 9 P663.71
0.1%
CBOE GLOBAL MARKETS, INC.SPY 9 P564.16
-0.1%
CBOE GLOBAL MARKETS, INC.SPY 9 C695.5
-0.4%
CBOE GLOBAL MARKETS, INC.SPY 9 P564.16
-1.6%

Asset allocation

Stocks
99.4%
Cash
0.6%

Risk profile

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

Year-on-year price swings

Max drawdown
-9.2%Mild

Worst peak-to-trough loss

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

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide returns of approximately 2x positive price return of SPY, up to a cap of 9.58%, with a 15% loss buffer.
Strategy
Invests primarily in FLEX Options on SPY to achieve enhanced returns and a buffer against losses. Targets 2x returns on SPY's positive performance up to a cap, while protecting against the first 15% of losses.
Inception date
September 21, 2022
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 2026-06-19