FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September
XSEP
Chicago Board Options Exchange- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 120 East Liberty Drive, Suite 400 Wheaton IL United States of America 60187
- IPO Date
- Sep 22, 2022
- Website
- ftportfolios.com
- Similar Companies
- Business
- FT Vest U.S. Equity Enhance & Moderate Buffer ETF – September (XSEP) is an actively managed exchange-traded fund that seeks to provide investors with returns, before fees and expenses, of approximately twice any positive price return of the SPDR S&P 500 ETF Trust (SPY), up to a predetermined upside cap, while providing a buffer against the first 15% of SPY losses over a one-year Target Outcome Period. The fund invests substantially all of its assets in FLEX Options referencing SPY, including purchased and written put and call options structured to deliver enhanced upside participation up to the cap and downside protection within the buffer; for the current Target Outcome Period from September 22, 2025, to September 18, 2026, the gross cap stands at 9.58% and the buffer at 15%, adjusting to 8.73% and 14.15% after the 0.85% management fee. Holdings typically include FLEX Options on SPY, U.S. Treasuries or cash equivalents for collateral, and minimal direct equity exposure, with the portfolio resetting at the end of each annual period to establish a new cap based on market conditions while maintaining the fixed buffer. XSEP operates within the defined outcome ETF segment, targeting investors seeking equity-like returns with moderated downside risk and capped upside, primarily retail and institutional allocators focused on U.S. large-cap equities; it lists on Cboe BZX and trades under the ticker XSEP. The fund forms part of First Trust Exchange-Traded Fund VIII, advised by First Trust Advisors L.P. (headquartered in Wheaton, Illinois, founded 1991) with sub-advisory from Vest Financial LLC; it launched on September 21, 2022, and as of late 2025 manages approximately $123-134 million in assets. Vest Financial LLC, the sub-advisor and pioneer of Target Outcome strategies, surpassed $50 billion in assets under management and supervision in July 2025, reflecting surging demand for buffered ETFs amid market volatility. First Trust Advisors expanded its Target Outcome lineup in February 2025 with launches including FT Vest Investment Grade & Target Income ETF (LQTI), FT Vest High Yield & Target Income ETF (HYTI), and FT Vest 20+ Year Treasury & Target Income ETF (LTTI), enhancing its collaboration with Vest on outcome-based fixed income products. In October 2025, First Trust introduced DLAG, a dual directional 10% buffer ETF based on SPY, further broadening the suite of defined outcome offerings that includes XSEP.