ETF overview
DSEP uses options in an effort to moderate losses on shares of SPDR S&P 500 ETF Trust (ticker: SPY) over a one-year period, starting in September. In exchange for preventing realization of the first 5% to 30% of the losses, the fund foregoes some upside return as well as the dividend component of SPY because the options are written on the price (not total) return version of the shares. Should the shares of SPY decline greater than 30%, investors participate in the downside performance on a $1 for $1 basis. Shares must be held over a specific period to achieve the intended results. At the end of the target outcome period, the fund will reset for a new outcome period tied to the same index and buffer, but the cap may change based on market rates. The issuer publishes effective interim levels daily on its website. The targeted cap and buffer do not include the fund's expense ratio. The fund is actively managed and uses FLEX options on SPY shares exclusively.
Fund facts
- Expense ratio
- 0.85%
- Fund assets
- 425.95M USD (all share classes)
- Issuer
- First Trust
- Inception date
- Sep 18, 2020
- Number of holdings
- 4
Holdings (4)
| Name | Ticker | Weight |
|---|---|---|
| 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 7.54 | 98.04% | |
| 2027-09-17 State Street® SPDR® S&P 500® ETF Trust P 723.61 | 3.63% | |
| 2027-09-17 State Street® SPDR® S&P 500® ETF Trust P 533.18 | -0.88% | |
| 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 872.59 | -1.86% |
Similar ETFs
- FT Vest U.S. Equity Buffer ETF - SeptemberFSEP · Expense ratio 0.85%
Historical returns do not guarantee future returns. This is not investment advice.

FT Vest U.S. Equity Deep Buffer ETF - September (DSEP)
- Expense ratio
- 0.85%
- Fund assets
- 425.95M USD (all share classes)
- Issuer
- First Trust
- Inception date
- Sep 18, 2020
- Number of holdings
- 4
| Name | Ticker | Weight |
|---|---|---|
| 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 7.54 | 98.04% | |
| 2027-09-17 State Street® SPDR® S&P 500® ETF Trust P 723.61 | 3.63% | |
| 2027-09-17 State Street® SPDR® S&P 500® ETF Trust P 533.18 | -0.88% | |
| 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 872.59 | -1.86% |
DSEP uses options in an effort to moderate losses on shares of SPDR S&P 500 ETF Trust (ticker: SPY) over a one-year period, starting in September. In exchange for preventing realization of the first 5% to 30% of the losses, the fund foregoes some upside return as well as the dividend component of SPY because the options are written on the price (not total) return version of the shares. Should the shares of SPY decline greater than 30%, investors participate in the downside performance on a $1 for $1 basis. Shares must be held over a specific period to achieve the intended results. At the end of the target outcome period, the fund will reset for a new outcome period tied to the same index and buffer, but the cap may change based on market rates. The issuer publishes effective interim levels daily on its website. The targeted cap and buffer do not include the fund's expense ratio. The fund is actively managed and uses FLEX options on SPY shares exclusively.
- FT Vest U.S. Equity Buffer ETF - SeptemberFSEP · Expense ratio 0.85%
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