XSEPFT Vest U.S. Equity Enhance & Moderate Buffer ETF - September
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 2022
0.85%
#4,514 of 5,861 · expensive
$134M
#2,722 of 5,861 · mid-size
+9.0%
3 years
#2,729 of 5,861 · seasoned
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 10 holdings = 110.4% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
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 9.58%. The strategy is designed for a one-year Target Outcome Period.
- Inception date
- September 21, 2022
- Fund family
- First Trust
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
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