FT Cboe Vest U.S. Equity Deep Buffer ETF… (DSEP) Performance
DSEP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +8.7% since Dec 31, 2025
- 1 year
- +10.1% total return
- 5 years
- +8.4% a year
- Since first price
- +8.5% a year since 2020
DSEP trailing returns vs SPY, QQQ, AGG
| Period | DSEP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.3% | −0.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.9% | +2.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +6.1% | +6.1% | +7.8% | +8.4% | −1.5% |
| YTD | +8.7% | +8.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +10.1% | +10.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +44.5%+13.0%/yr | +44.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +49.4%+8.4%/yr | +49.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionSep 21, 2020 | +64.6%+8.5%/yr | +64.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: DSEP vs SPY
From Sep 21, 2020: DSEP grew to $16,464, SPY to $25,201.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
DSEP returns by calendar year
4 of 5 full years positive. Best 2023 (+18.9%), worst 2022 (−7.4%). 2026 is year to date.
DSEP annual returns table
| Year | DSEP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +8.7% | −4.5% | +12.3% | +15.1% | −1.0% |
| 2025 | +10.8% | −9.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +11.3% | −2.3% | +24.9% | +25.6% | +1.3% |
| 2023 | +18.9% | −5.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −7.4% | −11.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +6.4% | −1.6% | +28.7% | +27.4% | −1.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
DSEP largest drawdowns
Now 1.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 4, 2022 | −11.8% | Oct 12, 2022 | Jun 2, 2023 | 9 months | 1.4 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
DSEP risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +12.8% | +8.8% | +8.5% |
| Volatility (annualized) | 6.3% | 7.4% | 7.0% |
| Sharpe ratio | 1.27 | 0.71 | 0.79 |
| Sortino ratio | 2.56 | 1.15 | 1.32 |
| Best month | +5.5% | +5.5% | +5.5% |
| Worst month | −3.2% | −4.3% | −4.3% |
| Best 12 months | +18.4% | +20.4% | +20.4% |
| Worst 12 months | +3.9% | −8.4% | −8.4% |
| Positive months | 75% | 68% | 69% |
| Beta vs S&P 500 | 0.49 | 0.45 | — |
| Correlation with S&P 500 | 0.97 | 0.96 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
DSEP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 62 | −8.4% | +10.3% | +20.4% | 81% |
| 3-year (a year) | 38 | +4.4% | +8.3% | +14.6% | 100% |
| 5-year (a year) | 14 | +6.8% | +8.1% | +8.8% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
DSEP performance overview
FT Cboe Vest U.S. Equity Deep Buffer ETF… (DSEP) returned +10.1% over the past year and +8.4% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +8.5% a year, turning $10,000 into about $16,464. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −11.8%, from Jan 4, 2022 to Oct 12, 2022, and it took 8 months to get back to the old high. DSEP finished 4 of its 5 full calendar years with a gain; the best year was 2023 (+18.9%) and the worst 2022 (−7.4%). Volatility has been 7.0% a year.
Related: DSEP chart. See the DSEP overview for the latest quote and fund facts.
DSEP performance FAQ
What is the DSEP return over the past year?
DSEP returned +10.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 10.1%.
What is the average annual return of DSEP?
DSEP has returned +8.4% a year over 5 years, +8.5% a year since September 21, 2020 (total return, distributions reinvested).
How much would $10,000 invested in DSEP be worth?
$10,000 invested in DSEP at its first recorded close on September 21, 2020 would be worth about $16,464 on October 23, 2026 with distributions reinvested.
What was the worst year for DSEP?
The worst calendar year was 2022, with a total return of −7.4%. The best was 2023 at +18.9%.
What is the biggest drawdown of DSEP?
The largest peak-to-trough decline was −11.8% between January 4, 2022 and October 12, 2022. It recovered to the old high on June 2, 2023, 8 months after the bottom.
How volatile is DSEP?
Over the past 3 years DSEP had an annualized volatility of 6.3% and a Sharpe ratio of 1.27 (excess return over 1–3 month T-bills per unit of risk).